Wall Street gains on Boeing news, Trump’s reopening plan

first_imgGilead Sciences Inc surged 8.1 percent following a report that patients with severe symptoms of COVID-19, the respiratory disease caused by the coronavirus, had responded positively to its experimental drug, remdesivir.With no treatments or vaccines currently approved for the coronavirus, the news lifted global equity markets, but Gilead said the totality of the data from the trial needed to be analyzed and it expected to report results from a study in severe COVID-19 patients at the end of April.The Dow Jones Industrial Average rose 445.98 points, or 1.89 percent, to 23,983.66, the S&P 500 gained 47.29 points, or 1.69 percent, to 2,846.84 and the Nasdaq Composite added 40.45 points, or 0.47 percent, to 8,572.81.Bank stocks recovered after four straight days of losses triggered by lenders reporting several billion dollars in reserves to cover potential loan defaults. Financial stocks were the top boost to the S&P 500.Apple fell as Goldman Sachs downgraded the stock on expectations of a 36 percent drop in iPhone shipments during the third quarter due to coronavirus-related lockdowns.Advancing issues outnumbered declining ones on the NYSE by a 4.96-to-1 ratio; on Nasdaq, a 3.58-to-1 ratio favored advancers.The S&P 500 posted eight new 52-week highs and no new lows; the Nasdaq Composite recorded 28 new highs and nine new lows.Topics : However, the index remains well off its all-time high and strategists have warned of a deep economic slump as a halt in business activity puts millions of Americans out of work.Some US states on Friday were expected to announce timetables for lifting restrictions, a day after Trump outlined guidelines for a phased reopening of the devastated US economy.The plans “provide some hope and optimism for folks and the market and the whole economy. It’s a start,” said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas.The news on Boeing, which Bradshaw says his firm owns, has helped lift optimism as well. US stocks rose on Friday, helped by a surge in Boeing shares, President Donald Trump’s plan to reopen the economy and hopes of a potential drug by Gilead to treat COVID-19.Shares of the US planemaker soared on plans to restart commercial jet production in Washington state after halting operations last month due to the coronavirus pandemic.The S&P 500 was up sharply from its March trough and set to gain for the week following a raft of global stimulus and on hopes that statewide lockdowns would be eased as the outbreak showed signs of ebbing.last_img read more

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97 dead, two survivors in Pakistan plane crash

first_imgAll but two of the 99 people on board a Pakistan passenger plane were killed when it crashed into a residential neighborhood of Karachi, officials said Saturday, as rescue workers toiled through the charred and twisted wreckage strewn across the street.The Pakistan International Airlines (PIA) plane had made multiple approaches to land at Karachi airport on Friday when it came down among houses, sparking a rescue operation that lasted into the night.The bodies of all the passengers and crew had been recovered, the Sindh Health Ministry said, adding that 19 had been identified.  PIA said air traffic control lost contact with the plane travelling from Lahore to Karachi just after 2:30 pm (0930 GMT).The disaster comes as Pakistanis prepare to celebrate the end of the Muslim fasting month of Ramadan and the beginning of Eid al-Fitr, with many travelling to their homes in cities and villages.Sarfraz Ahmed, a firefighter at the crash site, told AFP that rescuers had pulled bodies from the Airbus A320 aircraft who were still wearing seatbelts.Residents near the scene recounted how their walls shook before a big explosion erupted as the aircraft slammed into the neighborhood.”I was coming from the mosque when I saw the plane tilting on one side. It was so low that the walls of my house were trembling,” said 14-year-old Hassan.Another resident, Mudassar Ali, said he “heard a big bang and woke up to people calling for the fire brigade”.An AFP reporter witnessed charred bodies being loaded into ambulances.”It was an [Airbus] A320, which is one of the safest planes,” PIA chief executive Arshad Mahmood Malik said at a press conference. “Technically, operationally everything was in place.” Aviation minister Ghulam Sarwar Khan said the captain, Sajjad Gull, had been described by the airline as a senior A320 pilot with extensive flight experience.Airbus said that the plane had first entered service in 2004 and was acquired by PIA a decade later and had logged around 47,100 flight hours. PIA promised a full independent investigation. ‘Prayers & condolences’Pakistan Prime Minister Imran Khan said he was “shocked and saddened” by the crash, tweeting that he was in touch with the state airline’s chief executive.”Prayers & condolences go to families of the deceased,” he wrote on Twitter.The Pakistan military said security forces were deployed to the neighborhood and helicopters were used to survey the damage, while offering condolences over the “loss of precious lives.”Commercial flights resumed only days ago, after planes were grounded during a lockdown over the coronavirus pandemic.Pakistan has a chequered military and civilian aviation safety record, with frequent plane and helicopter crashes over the years.In 2016, a Pakistan International Airlines plane burst into flames after one of its two turboprop engines failed while flying from the remote north to Islamabad, killing more than 40 people.The deadliest air disaster on Pakistani soil was in 2010, when an Airbus A321 operated by private airline Airblue and flying from Karachi crashed into the hills outside Islamabad as it came in to land, killing all 152 people on board.An official report blamed the accident on a confused captain and a hostile cockpit atmosphere.PIA, a leading airline until the 1970s, has seen its reputation sink due to frequent cancellations, delays and financial troubles.It has been involved in numerous controversies over the years, including the jailing of a drunk pilot in Britain in 2013.Topics : DNA testing was being carried out at the University of Karachi to help identify the dead. Flames and plumes of smoke were sent into the air as the plane came down, its wings slicing through rooftops before crashing onto a street.Residents were the first to search through debris for survivors, with witnesses reporting the cries of a man hanging from the plane’s emergency exit door.A local hospital earlier reported it had received the bodies of people killed on the ground.last_img read more

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Pandemic creates fresh momentum for new sports blueprint

first_imgThe late Bob Hasan, a father figure for Indonesian athletics, once said that one of his failures in more than 40 years of leading the Indonesian Athletics Association (PASI) was the inability to constantly produce a large number of track and field champions.Bob, who passed away in March, said the PASI was only able to produce one star athlete at a time, even before his leadership, from sprinter Mohammad Sarengat in the 1960s to the current top sprinter Lalu Muhammad Zohri. “Data show that our past achievements were not by design but by accident. We found talents and we trained them. But we could not duplicate [either the success or the process]. We have no system for creating achievements,” he said.The planned sports blueprint, he said, was particularly important in supporting Indonesia’s ambition to host the 2032 Summer Olympics, where fresh batches of athletes from across the world are expected to compete.The scheme also aims at promoting sports science in Indonesia, which has fallen behind Southeast Asian countries in sports science, as reflected in Indonesia’s mediocre performance at past biennial multisport regional events like the SEA Games.Analysts, however, said Zainudin’s plan for a sports grand design was not new. A similar idea had once been floated by then-sports minister Adhyaksa Dault during the presidency of Susilo Bambang Yudhoyono.Adhyaksa had gathered 55 sports experts from Aceh to Papua to formulate a strategy for national sports, according to sports expert Tandiyo Rahayu from Semarang State University, but the scheme was abandoned when Adhyaksa’s term in office ended.Such a discontinuity in sport policy hampered national sports development, Tandiyo said.Some major federations, such as those for badminton, soccer, athletics and swimming, meanwhile, have their own programs to optimize performance of athletes, even though these efforts are still far from perfect, according to Tandiyo.A lack of facilities contributes to the poor development of sports science, with Tandiyo recording only Jakarta, West Java and East Java as having sports science laboratories.Sports expert Djoko Pekik Irianto from Yogyakarta State University called on the government to be consistent in developing sports nationwide and to build a sports culture among the youth and society at large.He also said that the state budget allocation for sports was not enough to support sports science development and increase the use of sports science in athletes’ training programs.This year, the Youth and Sports Ministry will receive about Rp 1.7 trillion (US$114 million) from the state budget, among the lowest received by any ministry.”Not to mention that many coaches are not familiar with sports science. Therefore, I suggest scholars create a practical formula that can be easily implemented by coaches in daily training programs for athletes,” Djoko said.Topics : “So far, [we have been able to produce] one top athlete every decade. This is wrong,” he told The Jakarta Post in September. He said that the PASI, at the time, was perfecting its training regimen and expanding the reach of its talent scouting program.What Bob said reflects what is happening in almost every sport in the country, which has long been struggling with formulating long-term, comprehensive development programs for athletes to transform young athletes into champions.The Youth and Sports Ministry is now formulating the so-called national sports grand design to improve the country’s sporting prowess, with minister Zainudin Amali noting that the country had more time to do so after many sporting events have either been canceled or postponed due to the COVID-19 pandemic.The plan was revealed by Zainudin during an online public discussion hosted by the Semarang State University last week. He said Indonesia’s sports achievements mostly happened by accident.last_img read more

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Arsenal chief Edu explains reasoning behind Thomas Partey, Gabriel Magalhaes and Willian signings

first_img 1/1 Read More Skip Ad Coming Next Read More Comment Visit Advertiser website GO TO PAGE 1 min. story Advertisement Video Settings by Metro Metro Sport ReporterThursday 8 Oct 2020 4:09 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link2.1kShares SPONSORED Read More Full Screen Read More Read More deadline day move to West Ham Arsenal chief Edu explains reasoning behind Thomas Partey, Gabriel Magalhaes and Willian signings Edu praises the physical and mental attributes of the new additions, who he says are hungry to lead the north London club to glory.AdvertisementAdvertisementADVERTISEMENT Chelsea defender Fikayo Tomori reveals why he rejected PLAY Edu is the man in charge of transfers at the Emirates (Picture: Arsenal)Arsenal technical director Edu says the club added ‘quality’, ‘physicality’ and mental fortitude to their squad this summer with the signings of Thomas Partey, Gabriel and Willian.In a big show of faith to boss Mikel Arteta, top target Partey was recruited from Atletico Madrid as the north London club activated his £45 million release clause on deadline day.The Gunners also recruited centre-back Gabriel and experienced winger Willian, as well as re-securing the services of Dani Ceballos on another season-long loan from Real Madrid. Advertisement Skip About Connatix V67539 ‘I think we improved the squad’s quality and physicality,’ Edu told the club’s official website.‘Thomas, who we had in our plan for the future, when me and Mikel sit and talked, I think you get all the players who we really focused on. If you see Willian, he brings us experience and a very special physicality in terms of speed. If you see Gabriel, he gives us a lot of physicality and presence. Dani, quality. ‘Thomas, physicality, quality and mentally he is very strong. But in the end if you see all these players we brought to the club, they are very good here (points to legs), but they are better here (points to head) which for me is very important because when you talk to the players, they have a lot of ambition, they are excited and they are hungry to win a title again. ‘This, for me, is important to have in the players to not only be good here (points to legs), but good here (points to head). And they are.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalAs well as new signings, Arsenal crucially negotiated new contracts for top scorer Pierre-Emerick Aubameyang and youngsters Bukayo Saka and Martinelli.‘This is another good point I want to mention because normally people are talking about signing players but for me and Mikel, we dedicate our time to what we have at home,’ the Brazilian added. ‘So we have to renew players, we have to give our respect to the players we have here, so let’s do it as soon as possible. If you see, Martinelli was the first one we did even before the window, Bukayo was during the window and Auba was in the window as well. ‘Those three, in my plan, was to try to get them done before the window even opened but of course there are negotiations, there are talks, there are meetings but we did it and it’s an important point as well.’MORE: Arsenal set to re-attempt efforts to terminate Mesut Ozil’s contract early ahead of January transfer windowMORE: Gareth Southgate heaps praise on Arsenal’s Bukayo Saka ahead of England vs WalesFollow Metro Sport across our social channels, on Facebook, Twitter and InstagramFor more stories like this, check our sport page / Top articleslast_img read more

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EIOPA turns to external researchers for help with big questions

first_imgEurope’s insurance and pensions regulator is turning to external experts to come up with ideas and research to help it tackle a range of questions about topics such as investment allocations and liquidity stress testing.The European Insurance and Occupational Pensions Authority (EIOPA) announced the call for research proposals on Monday, saying it was aimed at addressing open questions related to five topics with a special emphasis on policy angles.The Frankfurt-based authority said: “The ongoing policy and regulatory debates related to the European financial system have been increasingly focused on beyond banking topics including insurance and pension sectors.“Many questions which need to be addressed require both appropriate theoretical foundations as well as deep empirical analysis,” it said. The topics for which it wants research proposals are:Investment allocations of insurers and pension funds;Liquidity stress testing in the insurance sector;Early warning systems in insurance;Systemic relevance of insurance sector and its interlinkages with financial and real sectors;Economic valuation of insurers’ liabilities; best estimate and risk margin.A firstA spokeswoman for EIOPA told IPE this was the first time the regulator had launched such a call, and that it was a response to growing importance of insurance and pension sectors in the overall financial system.“This growing importance reinforces the need to fully develop a both theoretical and empirical foundation for risk assessment methodologies to be used for the sectors,” she said.The authority was taking this new step, she said, “in order to leverage the expertise and capacity of external researchers to further enhance a methodological framework available in EIOPA to be able to timely and properly monitor and assess all risks in the insurance and pension sector and address relevant pending research questions”.While the global research community did a lot of research – both theoretical and empirical – in the area of banking, she said significantly less had been done on insurance and pensions.“We see many topics where more theoretical foundations could be developed to address all ongoing and emerging issues,” she said, adding that this was particularly true for the area of financial stability where micro and macro topics came together and broad expertise covering finance and economics was needed.  All interested researchers with a solid academic background currently working for academic institutions or public authorities are being invited to participate, with each research team having to consist of at least one expert from EIOPA.The deadline for proposals is 15 December.In its recently-published global financial stability report, the International Monetary Fund (IMF) warned that lower-for-longer yields may prompt institutional investors to seek riskier and more illiquid investments to reach targeted returns.“This increased risk-taking may lead to a further buildup of vulnerabilities among investment funds, pension funds, and life insurers,” it said.Low yields promoted greater portfolio similarities among investment funds, the IMF wrote, adding that this may amplify market sell-offs if there were an adverse shock.“The need to satisfy contingent calls arising from pension funds’ illiquid investments could constrain the traditional role they play in stabilising markets during periods of stress,” it said.last_img read more

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EPL: David and Goliath as Norwich dare Reds

first_imgRelatedPosts Lampard: I still have confidence in Tomori Mane double eases Liverpool to win over 10-man Chelsea EPL: Chelsea, Liverpool in cagey duel Norwich vs. Liverpool Venue: Carrow Road Kick off: 6:30PMBottom faces top in the Premier League this evening when Norwich City host Liverpool at Carrow Road as both sides return to top-flight action following the mid-season break. An enormous chasm of 55 points separates the two sides in the standings, with Liverpool looking certain to end their 30-year wait for a title while Norwich would need a great escape to avoid an immediate return to the Championship. It was against Norwich that Liverpool’s remarkable season began back in August, when their 4-1 triumph at Anfield gave an early glimpse of what we could expect from both sides in 2019-20. Many expected Norwich to fare a little better than they have considering the number of problems they caused Jurgen Klopp’s side despite the heavy defeat, but no-one could have predicted just how dominant the Reds would go on to be, even when they were four goals ahead at half time. Twenty-four games later and Liverpool boast a 22-point lead over champions Manchester City – already the biggest lead in Premier League history and one which they have the chance to extend to 25 courtesy of Man City’s postponed game against West Ham United last weekend. No team in the history of Europe’s top five leagues can match Liverpool’s record so far this term, with Klopp’s side reaching the winter break having won 24 of their 25 league games, dropping only two points from a possible 75. Indeed, the remarkable record stretches further back than the last time these two teams met in August, with Liverpool picking up 100 of the last 102 points on offer in the Premier League in a run which now stretches back almost an entire year. A plethora of records have already been shattered and many more look destined to follow in a campaign the like of which has never been seen before and may never be seen again, but central to the relentlessness of their form is Klopp’s insistence to take every game as it comes. Such a zero-tolerance approach to complacency may be tested in a week which sees a much more alluring Champions League tie with Atletico Madrid follow this trip to the Premier League’s basement club, although even when chalking up win after win there have been enough scares to keep Liverpool on their toes. A 4-0 win over Southampton in the last league game was nowhere near as straightforward as the result suggests, and it remains to be seen whether the Premier League’s first ever winter break could have an impact on the winning momentum Liverpool have enjoyed almost unimpeded since the start of the season. Visiting the league’s bottom side is a kind way to get back into the groove, though, and should Liverpool avoid a slip-up at Carrow Road then it would be their 43rd successive top-flight game without defeat to move clear of Nottingham Forest’s 1978 team and haul the Arsenal Invincibles that bit closer. Another landmark within reach is the top-flight record for consecutive wins; victory on Saturday would see Liverpool equal their own mark of 17 which came to an end at Old Trafford earlier this season and leave them just one short of Man City’s record of 18. An away win looks to be by far the most likely result in this match, and Daniel Farke’s admission that his side would need a minor miracle to avoid relegation could also be applied to their chances of toppling Liverpool. The Canaries are seven points adrift of safety with 13 games of the campaign remaining, while their league-worst goal difference makes the gap even more difficult to make up. Norwich have conceded the joint-most goals in the league this season while only Crystal Palace have scored fewer, which is a worrying record when facing a team with the second-best attack and by far the best defensive record. Farke’s side have won just one of their last 12 league games too, although there is perhaps some cause for optimism within that run considering many of their best performances have come when they have been the biggest underdogs. Since the beginning of December Norwich have taken points off Arsenal, Leicester City and Tottenham Hotspur, and they will need to muster those levels of performance again in a run which sees Wolverhampton Wanderers, Leicester and Sheffield United next up after Liverpool. Indeed, six of their next seven league games come against teams currently in the top half, while trips to Chelsea and Manchester City also loom in the final three weeks of the season, so there will need to be more than one upset along the way if they are to haul themselves away from relegation. The Canaries will certainly need to improve their home form considering that Southampton are the only team to have picked up fewer points in front of their own fans this term, and they made a good start to that with victory over Bournemouth in their last outing at Carrow Road. The 1-0 triumph not only secured a first home league win since their unforgettable triumph over Man City in September, it also saw them keep a clean sheet at home in the top flight for the first time since March 2016 – a run which stretched back 16 games. Liverpool is an entirely different proposition, though, with Klopp’s side have scored in every game so far this season and conceded just one goal at the other end in their last 10 matches. Norwich possible XI: Krul, Aarons, Zimmermann, Godfrey, Byram, Tettey, McLean, Buendia, Duda, Cantwell, Pukki. Liverpool possible XI: Alisson, Alexander-Arnold, Gomez, Van Dijk, Robertson, Henderson, Fabinho, Oxlade-Chamberlain, Salah, Firmino, Mane.Tags: Jurgen KloppLiverpoolNorwich Citylast_img read more

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Losing title will be failure – Kompany

first_imgManchester City captain Vincent Kompany admits the club will have “failed” if they lose their Barclays Premier League title to rivals Manchester United this season, but refuses to blame the missed opportunity to sign Robin van Persie for United’s nine-point advantage. Questions have been asked about how much City improved – if at all – during a frustrating summer transfer window, with Van Persie’s move to United just one of a number of disappointments. “United hit the jackpot with Van Persie,” Kompany added. “But you can’t think “What if” about Van Persie. I am not sitting here thinking, “What if we had signed Lionel Messi” either. “His transfer has made a direct impact but to say he’s the reason we can’t make it – if it turns out that way – is not correct. “I still believe we can do this but if we don’t, there will be plenty more reasons than the fact we didn’t sign one player and another club did.” Kompany has missed a number of recent games through injury, but at least avoided a three-match suspension when his red card for a tackle on Arsenal’s Jack Wilshere was overturned. The 26-year-old Belgium international believes it is vital for the English game that tackling is protected and the game does not go the way of other European leagues. “It’s the way the game is played here that makes it possible for fans from all around the world to watch it on TV,” he said. “The intention of what you do – if it’s wrong – should be punished severely. I’m clear on that. But let’s not ruin the game.” Van Persie was pursued by both Manchester clubs last summer but opted for United and his 22 goals so far – including a last-minute winner in the first Manchester derby – have helped Sir Alex Ferguson’s men build a healthy advantage with 13 matches left in the season. City might sense their title slipping away but Kompany is not giving up the fight. He told the Daily Mail: “Nothing matters apart from being first. Anything below that then you are just another top team that’s failed. We are not about to give up but the reality is that we are up against a very good United team.” center_img Press Associationlast_img read more

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Wisconsin readies for indoor season

first_imgLast season, the UW men’s indoor track team barely missed out on a national championship.Many of those players redeemed themselves last semester by clinching Wisconsin’s first cross-country NCAA Championship since 1988 and breaking a three-year streak of second-place finishes.Still, after winning both team and individual titles, senior captain Simon Bairu sees the 2006 season as a comparison not to the cross-country team that won it all in November, but to the track team that fell so close a year ago.”We’re trying to shoot even higher this year, and we have the athletes to do it,” Bairu said. “We returned most of our scorers and gained some more as well. We’ll be looking toward a top-three finish, and if we have the right day, we can win it all.””The training season has made everyone a little bit hungry after the successful cross-country season,” Bairu added. “We know that what we did [last fall] was great, but now we just have to come back and do it during the indoor season. I think everyone is up for the challenge.”The Badgers will be aided by such crossover athletes as Bairu, junior Chris Solinsky and freshman Matt Withrow, all from the cross-country squad.”Any time you have a group of athletes that are at that level, it does nothing but help your team,” UW head coach Ed Nuttycombe said. “It’s great to have Bairu, Solinsky and those guys competing for you because they are going to make us a better team.”The Badgers already know of one setback to this point. Senior Bobby Lockhart, an All-American in 2004, has been suspended for “violating the university’s discipline policy,” according to Nuttycombe.”If he is lost for the year, it will be a big impact,” the coach said. “He’s a senior, he’s a leader and he has been an All-American. We’re certainly hoping to have some type of resolution that would allow him to compete if it’s the right thing [to do].”Without Lockhart, Wisconsin will look for more leadership out of Bairu, Rick Bellford, Nathan Brown and Joe Detmer, the 2006 team captains.UW will also benefit from other experienced athletes like senior Alonzo Moore and junior Demi Omole.”We have captains that are going to lead us, but we also have seniors and other athletes that may not be captains but have been around the block and should also provide a lot of leadership,” Nuttycombe explained.Nuttycombe said the thought of two Wisconsin male championships in one year is something that may indirectly motivate his team to the highest level.”It would be a goal that would be very hard to obtain, but it is one that has been set up quite nicely by the cross-country win,” he said. “I think it has raised the bar, in a sense. It would be one of our far-reaching goals for a perfect season.”On the women’s sideIn what appears to be a bit of a rebuilding year, the UW women’s team will look for leadership from junior captain Melissa Talbot this year.”Obviously, during the bigger meets, we’re going to look for her to score some points for us and be a leader in the sprints and field area,” head coach Jim Stintzi said.Talbot, the defending Big Ten champion in the indoor pentathlon, said she will work with co-captains ‘A Havahla Haynes and Andrea Lang to get their team members motivated for an improved season over last year’s eighth-place finish at the Big Ten meet.”I’m hoping we can be good leaders in order to make other girls on the team want to get to the same level,” Talbot said. “It has hurt to see the team struggle a little bit in the Big Ten in the past few years, and we just want everyone else to want it as badly as we do.”Other runners, such as Shuntia Lucas and Katrina Rundhaug, are expected to make big contributions along the way for the Badgers, as well.Junior Erica Schoeller, who has fought injury throughout the preseason, could be wearing the redshirt for the 2006 season. Schoeller was one of UW’s leading scorers last year.”It’s something that’s up in the air,” Stintzi said. “She’s a little banged up, and we’re just not sure if we’re going to use her this year or hold her out.”With the upcoming Big Ten meet being held in Madison, Talbot knows this would be a perfect time to return to the upper ranks of the conference.”We were talking about trying to get back to the top five in the Big Ten,” she said. “Everyone’s improving from where we left off from last year, which will work to qualify people for the bigger competitions.”last_img read more

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See Tom Brady’s Tampa Bay mansion, Derek Jeter’s old St. Petersburg home

first_imgIn 2017, Jeter received approval from the city to build an opaque gate for privacy, after he realized fans could see directly into the home from the street.That’s good news for Brady, who will likely have plenty of fans flocking to get a glimpse of him and his wife Gisele Bündchen. The quarterback is renting the home that features seven bedrooms, nine bathrooms, an entertainment room and a billiards room.It (of course) comes with a pool and not one but two boat lifts providing access to Tampa Bay.Another feature of the home that likely appealed to Brady? The improved privacy gate. Tom Brady has found a new home in Tampa Bay, according to the Tampa Bay Times. The 42-year-old, who signed a two-year, $50 million contract with the Buccaneers two weeks ago, is in the process of moving his family into a 30,000-square-foot waterfront mansion in St. Petersburg — built by Yankees Hall of Fame shortstop Derek Jeter.MORE: Buccaneers’ Chris Godwin has simple reason for giving No. 12 to Tom Bradylast_img read more

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The French League studies a common loan to help the clubs

first_imgThat decision can be a serious blow to the clubs, which in France receive 36% of their income in the first division from television broadcasting rights. Another threat comes from the fact that the transfer market may be severely affected by the slowdown. French clubs are traditionally vendors and they obtained a significant part of their income from this section. In the 2018-2019 season there were some 635 million euros in transfer surpluses, essential to balance their accounts, and according to the French financial control body, the clubs still need about 200 million euros until the end of the season to not end it in negative. Most of the clubs have resorted to partial unemployment mechanisms for their workforce or to salary reductions for their stars. But, even with these solutions, the coffers of the clubs must support up to 84% of the players’ net salary, not covered by the partial employment regulation files. The LFP is in negotiations with the soccer union to reduce wages 50% globally. The crisis is affecting most of the clubs, even the big ones.The main threatened is Olympique de Marseille, who already had red numbers before the arrival of the coronavirus and was in the spotlight of UEFA for that reason. Monaco, another of the greats, has put all its workers on technical unemployment and negotiates with the staff to reduce their wages. The club can benefit from the support of the Principality’s authorities and studies whether it can also receive help from the French State, since it plays in that league. The Paris Saint-Germain (PSG), for its part, despite having the largest budget, is also the one with the most losses linked to the pandemic. It is estimated that you can stop entering about 215 million euros. The French Professional Football League (LFP) is considering creating a community credit fund to help clubs overcome financial difficulties they may have due to the slowdown in competitions due to the COVID-19 pandemic. According to sources of the organization, it would be a credit of between 200 and 250 million euros that would be requested with the guarantee of future television income, both the current ones, from the BeIN Sports channel, and those of the following seasons, bought by the Spanish Mediapro. In this way, the aim is to allow entities to meet expenses during these months, when they have seen their income decrease due to the lack of ticket sales and all the benefits associated with the parties’ dispute. To this is added that Canal Plus has decided to freeze the payment of 110 million euros that it had to make on April 5, as it could not broadcast the games.last_img read more

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