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IM on top after ‘intense’ year

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Trump warns of ‘complete decoupling’ from China despite talks

first_imgLighthizer told a congressional committee on Wednesday that China so far has been living up to the terms of a “phase one” agreement that eased the dispute, but that decoupling the two economic giants was now impossible.”That was a policy option years ago, but I don’t think it’s a policy or reasonable policy option at this point,” Lighthizer said.Lighthizer described himself as a hardliner on China policy, and outlined the Trump administration’s plans to “reset” the World Trade Organization, largely so that it can better rein in Beijing’s policies which he says run afoul of free trade rules.But his admission that the world’s two largest economies are inextricably linked, despite Trump’s aggressive campaign to push American firms to relocate production to the United States, caused some angst in Republican circles. Trump tried to let his trade official off the hook. “It was not Ambassador Lighthizer’s fault (yesterday in Committee) in that perhaps I didn’t make myself clear.”Trump in January signed the “phase one” of a trade deal aimed at ending a trade war in which he has slapped tariffs on billions of dollars of Chinese products.Secretary of State Mike Pompeo said that a senior Chinese official also confirmed to him Beijing’s commitment to phase one, which includes China stepping up purchases of US products.Pompeo met Wednesday in Hawaii with Yang Jiechi, a veteran maker of Chinese foreign policy, in Hawaii to discuss soaring tensions.Besides trade, the United States has sharply criticized China over its handling of the coronavirus pandemic, an upcoming security law in Hong Kong and its mass detention of Uighurs and other Turkic Muslims.Senior US diplomat David Stilwell, who accompanied Pompeo, said the United States insisted on a “more reciprocal” relationship but declined to discuss the discussions in depth.”Whether or not they were productive or not, I will look at what comes up in the next couple of weeks. You’ll see a reduction in aggressive behavior or not,” Stilwell told reporters.”If they come to the table with a reasonable proposal, the US is obviously going to treat it reasonably and look for ways to work toward a positive outcome.”Topics : President Donald Trump warned Thursday the United States had the option to separate from China’s deeply intertwined economy, despite the powers’ pledges to move forward on a trade deal.The US “certainly does maintain a policy option, under various conditions, of a complete decoupling from China. Thank you!” Trump tweeted.He wrote that he was responding to comments by his trade representative Robert Lighthizer, who has been at the forefront of trade war negotiations with Beijing.last_img read more

Wednesday people roundup

first_imgAXA Investment Managers – Franz Wenzel has been appointed as an institutional solutions strategist within the Multi Asset Client Solutions investment platform. He will be responsible for the development of multi-asset solutions for institutional clients in Austria, Germany and Switzerland. He was previously chief strategist in the research and investment team, having joined AXA IM in 1997 as a European economist.BlueBay Asset Management – Anahita Firouzbakht has been appointed to the newly created position of director of consultant relations at the fixed income manager. Based in London, she will focus on managing BlueBay’s relationships with consultants within the institutional market. She joins from Pictet Asset Management, where she was vice-president in the global consultants team. Before then, she held positions at Partners Group and Duet Group.British Steel Pension Scheme – British Steel’s pension fund manager Jim Wright has been hired for the launch of a global equity infrastructure fund at Miton. The fund, subject to regulatory approval, will be launched in the second quarter of next year. Wright has been with British Steel since 2006, managing a £560m (€628m) portfolio investing in global infrastructure stocks. He will join Milton in January next year.Schroders – Guy Henriques has been appointed country head for the UK business. He will return from Japan, where he was country head for Schroders from 2012 to August 2016. In addition, Robin Stoakley, managing director of UK intermediary, will hand over the management of the business to James Rainbow, head of UK financial institutions and strategic accounts, and Phil Middleton, head of UK intermediary business development, who will become co-heads.bfinance – Kathryn Saklatvala has been appointed global content director at the investment consultancy. Prior to joining bfinance, Saklatvala was managing editor at Institutional Investor’s Digital Networks, part of Euromoney Institutional Investor.KBI Global Investors – The Dublin-based manager, formerly Kleinwort Benson Investors, has appointed William Lynch as senior vice-president of business development for North America. He joins from New Amsterdam Partners, where he was a partner and head of marketing and client service.Baker & McKenzie – Law firm Baker & McKenzie is to appoint Pauline Bakker to increase the capacity of its pensions services. Bakker has gained eight years of experience at law firm HVG, Dutch pensions insurer Zwitserleven and pensions adviser Watson Wyatt.Eumedion – The corporate governance platform for institutional investors has appointed Amra Baliç to its board. Baliç is head of the London-based investment EMEA stewardship team at BlackRock. She succeeds Frank Curtiss, who has retired.Stap APF – Stap, the new general pension fund of insurer Aegon and its subsidiary TKP Pensioen, has named Gerard Frankema as director. Frankema has been working at Dutch pension funds and pensions-administration providers for the last 20 years. Éric Loiselet (Ircantec), NN Investment Partners, AP3, Skandia Liv, AXA Investment Managers, BlueBay Asset Management, Pictet Asset Management, British Steel Pension Scheme, Miton, Schroders, bfinance, KBI Global Investors, Baker & McKenzie, Eumedion, BlackRock, Stap APF Éric Loiselet (Ircantec) – Éric Loiselet, adviser to Jean-Pierre Costes, president of the €9.2bn French public sector pension scheme Ircantec and a leading figure in responsible investment in France, has died, aged 56. Loiselet was also co-founder and a director of the French responsible investment forum (FIR) and an advocate of the now well-known Article 173 of France’s energy transition law. He was previously also a member of the board of directors at the civil service pension fund ERAFP.NN Investment Partners – Maureen Schlejen has been appointed head of institutional relations for the Dutch market, joining on 1 January 2017. She joins from Robeco, where she has worked for more than 20 years. She will be responsible for NN IP’s sales and relationship management for Dutch institutional clients, including pension funds and insurance companies. Meanwhile, Gabriella Kindert was appointed as manager of alternative credit. Kindert has more than 20 years of experience and has been in managing positions at the former private asset manager MeesPierson and BNP Paribas IP.AP3 – Gunnar Blix has been appointed by the Swedish buffer fund to the role of senior Swedish equities manager. Blix has worked for many years on the Swedish equities portfolio of Skandia Liv (Skandia Life), both as an employee of Skandia and for some of the time as an employee of Den Norske Bank.last_img read more

Nor-Shipping Director: Norsk Hydro Cyber Attack a Wake Up Call for Maritime Industry

first_imgThis week’s cyber attack on Norwegian aluminium producer Norsk Hydro is a sign of the growing threat facing firms within the maritime and ocean industries, according to Per Martin Tanggaard, Director of Nor-Shipping.On Monday, Norsk Hydro computer systems were initially hit by the comparatively new LockerGoga virus. It then spread through the firm’s network encrypting files.As a result, the company, which employs some 36,000 people in 40 countries, was forced to halt production in several plants, switching to increased manual operations to bypass problems connecting to its production systems. LockerGoga works by demanding payment for the decryption of infected files.“This is yet another wake up call for industry, and particularly for the maritime segment,” Tanggaard commented.“Shipping has been comparatively slow to join the digital revolution, but now that it has developments are moving fast, with ever increasing automation, connected operations and the move towards autonomy. It is absolutely essential that firms don’t just see the opportunities inherent here, but also the threats,” he pointed out.Tanggaard further said that shipping and ocean industry firms — which have large and expensive assets, infrastructure and cargoes — should have strategies to counter risk. He also mentioned cyber attacks that happened in the past two years, involving companies such as Maersk, COSCO, Austal as well as ports such as San Diego and Barcelona.“Cyber security should be top of the agenda for all businesses, big and small. If a company with Norsk Hydro’s resources, expertise and systems is susceptible to attack, then everybody is. Be aware,” Nor-Shipping’s Director warned.In June, Nor-Shipping is organizing Ocean Leadership Conference which will tackle issues including the evolving threat landscape and devising effective cyber strategies. The conference will be held in the Thon Hotel Arena Lillestrøm, Norway, as part of Nor-Shipping 2019, a maritime event attracting key industry players.last_img read more

Adolescents Who View More Medical Marijuana Advertising Are More Likely to Use Marijuana, Have Positive Views About the Drug

first_imgRand.org 17 May 2018Family First Comment: This is why we should tread carefully with a regulated market for medicinal marijuana…“Our findings suggest that increased exposure to medical marijuana advertising is associated with increased marijuana use and related negative consequences throughout adolescence. Thus, it is possible that teens who were exposed to the most medical marijuana advertising were more likely to use marijuana heavily and therefore experience more negative consequences.”www.saynopetodope.nzAdolescents who view more advertising for medical marijuana are more likely to use marijuana, express intentions to use the drug and have more-positive expectations about the substance, according to a new RAND Corporation study.The findings—from a study that tracked adolescents’ viewing of medical marijuana ads over seven years—provides the best evidence to date that an increasing amount of advertising about marijuana may prompt young people to increase their use of the drug. The study was published by the journal Drug and Alcohol Dependence.“This work highlights the importance of considering regulations for marijuana advertising that would be similar to rules already in place to curb the promotion of tobacco and alcohol across the United States,” said Elizabeth D’Amico, the study’s lead author and a senior behavioral scientist at RAND, a nonprofit research organization.Researchers say the issue is of increasing importance because 29 states and Washington D.C. have approved sales of medical marijuana, and nine states and Washington D.C. also have approved recreational sales of the drug. Both actions are likely to lead to more marijuana advertising that will be visible to adolescents, even if they are not the target of the ads.The RAND study followed 6,509 adolescents from 2010 until 2017 who were originally recruited from 16 middle schools in three school districts in Southern California, and went on to more than 200 high schools in the region. Participants were periodically surveyed to assess their exposure to medical marijuana advertising, and asked about marijuana use and related topics.READ MORE: https://www.rand.org/news/press/2018/05/17.htmllast_img read more

Clay County hosts Hobby Stock Spring Nationals

first_imgSPENCER, Iowa – Clay County Fairgrounds hosts the Spencer Office Supplies and H & N Chevrolet Buick-sponsored Hobby Stock Spring Nationals next Tuesday, May 17.IMCA Sunoco Hobby Stocks run for $2,000 to win, additional prize money for second through seventh place finishers, a $200 hard charger award from Weasy’s Bar and Grill and a minimum of $75 to start.Also on the midweek program at Spencer are Xtreme Motor Sports IMCA Modifieds, IMCA Sunoco Stock Cars, Karl Chevrolet Northern SportMods and Mach-1 Sport Compacts. All applicable points will be awarded in all divisions.Pit gates and the grandstand both open at 5:30 p.m. Hot laps are at 7 p.m. with racing to follow.There is no entry fee. Pit passes are $25.Spectator admission is $10 for adults and free for kids 12 and under.More information is available by calling 515 320-0066.last_img read more

Speedway Engineering backs IMCA Modifieds for 21st season

first_imgThe Sylmar, Calif., driveline and suspension components manufacturer and 21-year IMCA sponsor gives a $1,000 product certificate, good toward the purchase of a complete Ford 9” floater rear end housing or a full-size 10” quick change rear end, to the national champion. SYLMAR, Calif. – Long-time marketing partner Speedway Engineering continues its support of the IMCA Modified in 2019. The other four regional champions all receive $300 product certificates.  Information about the complete line of Speedway Engineering products is available at the www.1speedway.com website or by calling 818 362-5865.    center_img Speedway Engineering awards will be presented during the IMCA national banquet in November.  “As our partnership enters its third decade, we continue to be the only grassroots racing organization consistently supported by Speedway Engineering,” observed IMCA Marketing Director Kevin Yoder. “Ken and Joan Sapper are great supporters and long time friends of IMCA, and the quality of their products have been what has sustained this program for so long.”last_img read more

Perseverance pays off for McGurk

first_imgThree years after he quit football in despair, Adam McGurk is poised to win a first senior cap for Northern Ireland in Wednesday’s friendly against Malta. The 24-year-old was a promising forward at Aston Villa before a serious knee injury halted his progress and he was released early in 2010. McGurk did not seek another club but, pushed on by his family, he played a few times for non-league Hednesford Town and a successful trial with Tranmere that summer offered him a way back in. He has not looked back and, with striker Kyle Lafferty suspended for the next World Cup qualifying game against Russia next month, McGurk is hoping to play his way into contention. He said: “I didn’t really know what to do, I was in a bad place at that time. I eventually got a chance at Tranmere and I took it. This is where I am now so I’m just grateful.” He went on: “It was my family who got me back into it. I didn’t really have any interest myself being honest, but I didn’t want to disappoint them. They went through as much as me and it was just to try to please them, that was the only reason I went back in. Luckily it’s paid off.” With Tranmere pushing for promotion to the npower Championship, McGurk’s form caught the eye of Northern Ireland boss Michael O’Neill – although the forward needed some convincing the interest was genuine. McGurk said: “I was a bit shocked when I got the call-up, I had to phone the club to make sure it wasn’t someone trying to take the mick. It’s a huge honour and hopefully I can get some game time. “I didn’t know Michael was at the games he came to watch but luckily I must have done okay. He phoned me after the squad was announced to say he was impressed and he was looking forward to seeing me. “I know quite a few of the boys from coming through the ranks and at club level, so it wasn’t too bad settling in quickly. Everyone’s very welcoming and it’s great.” McGurk is one of a number of young faces in the squad for the friendly, where O’Neill will hope to secure a first win at the eighth attempt. Northern Ireland have drawn four of their seven previous games, including in an away qualifier against Portugal, and long-serving defender Aaron Hughes is hoping Wednesday will be the day. He said: “It would be nice to get rid of it so we don’t have to talk about it. But there’s deeper meaning to it. We’re missing Kyle in the next games and (Chris) Baird so we have to make a couple of changes. The thing we’re looking for most is a performance, working on all the things that we hope can get us something from the next round of qualifiers.” center_img Press Associationlast_img read more

Lukaku on target in Toffees triumph

first_img Everton did not start like a team on a six-game winless streak but there were moments to suggest their season has not turned the corner just yet, despite victory in south London moving the Toffees seven points clear of the relegation zone. Palace dominated for large periods of the game and it was only a lack of clinical finishing that saw them leave empty-handed. But it was Everton who took the lead with what proved to be their only effort on target until the closing five minutes. Steven Naismith picked up a perfectly-weighted through ball and saw his cross palmed away by Julian Speroni, with the rebound coming off the sliding Lukaku to open the scoring. But the hosts, who battled back after going behind in their last league outing at Burnley, were unperturbed by falling behind so early and looked to peg Martinez’s side back immediately. The recalled Dwight Gayle came close to levelling moments later, beating Everton goalkeeper Joel Robles to the ball before lifting an effort towards goal, only to see Phil Jagielka hack clear just in time to prevent an instant reply. Yaya Sanogo, making his home debut for the Eagles, also had a good chance as Everton failed to clear the resulting corner but his low shot was blocked and Marouane Chamakh was the next Palace player to test the Toffees’ back-line, cutting inside before seeing his effort deflected behind. That was Chamakh’s last meaningful involvement as a clash of heads with Seamus Coleman left the Morocco international with a bloody nose – with debutant Jordon Mutch coming on in his place. Alan Pardew’s honeymoon period as Crystal Palace manager was ended as an early Romelu Lukaku goal earned Everton a much-needed 1-0 victory at Selhurst Park. Puncheon stung the palms of Robles as Palace continued to be the side who were carving out chances as the first half wore on, with Mutch and Puncheon both firing over in stoppage time. The Palace momentum was disrupted by the half-time rest and they could not start the second 45 minutes with the same vigour as the quality of the final ball into the box kept falling short. Sanogo was inches away from connecting with Gayle’s deep cross before the former Peterborough forward shot high and wide. Wilfried Zaha was introduced on 65 minutes and instantly won two corners for the Eagles, with Glenn Murray also brought on by Pardew in the hope of rescuing something from the game. Having soaked up a lot of pressure, Everton broke clear with 10 minutes remaining but Lukaku could not get a telling touch to Aiden McGeady’s driven cross. With Palace throwing men forward, Everton looked to take advantage and McGeady drew a smart save from Speroni before Lukaku fired into the side netting shortly afterwards. Republic of Ireland international McGeady wasted another good chance to seal the win in stoppage time but Palace failed to muster a late flurry, with Robles largely untroubled in the second half. Press Association Having won his first four games at the helm, returning hero Pardew was unable to inspire yet another comeback as Lukaku struck inside two minutes to claim all three points and hand Roberto Martinez and Everton their first Premier League victory since December 15. Palace had won from losing positions in both of Pardew’s opening league fixtures in charge but there was to be no rescue act here, despite a first-half rally following Lukaku’s early effort. last_img read more

Disney World raises prices on most annual passes

first_imgWalt Disney World has raised the prices for most of its annual passes, the park’s website confirms.Walt Disney World has raised the prices for most of its annual passes, the park’s website confirms.The shift comes ahead of the August opening of Galaxy’s Edge.Guests from both in and out of state will see some significant increases on their annual passes and in some cases more than $150 a year.The following passes have been affected:-Epcot After 4 Annual Pass now $309 instead of $289.-Disney Silver Pass now $519 instead of $479.-Disney Gold Pass now $699 instead of $609.-Disney Platinum Pass now $899 instead of $749.-Disney Platinum Plus Pass now $999 instead of $849.Disney last raised the price of most of its annual passes in October, an increase of more than 10 percent on one of its plans at the time.last_img read more