Coronavirus uncertainty causes ‘major downside risks’: Fed minutes

first_imgWhen growth will resume depends “on the containment measures put in place, as well as the success of those measures, and on the responses of other policies, including fiscal policy.”Since then, Congress has approved three support packages, including a massive US$2.2 trillion rescue measure that puts money into unemployment insurance and emergency lending for small businesses to pay workers.Despite the severity of the current crisis, members of the Fed’s policy-setting Federal Open Market Committee said the US economy and banking system were on solid footing.Read also: Government debt issuance to triple to $62b as Indonesia fights COVID-19Some officials viewed the pandemic as “not directly comparable with the previous decade’s financial crisis and it need not be followed by negative effects on economic activity as long-lasting as those associated with that crisis.”Some committee members were reluctant to cut the interest rate by a full point less than two weeks after lowering it a half point, concerned in part about the negative signal that would send about the economic outlook.But the majority favored a “forceful” response, including the measures the Fed has taken to pump huge amounts of liquidity into the US financial system, to help support businesses facing cash shortages.They worried about low-income households with “less of a savings buffer” making them “more vulnerable to a downturn in the economy.”Topics : The uncertainty around the global coronavirus pandemic’s duration and severity creates “major downside risks” to the US economy, the Federal Reserve said Wednesday.The United States is sure to take a hit in the near term as businesses are forced to close and consumers are confined to their homes, the Fed said in the minutes of the March 15 emergency policy meeting, when the central bank slashed the benchmark interest rate to zero.But while the shutdowns imposed to contain the virus create hardship for businesses and households, they should not have the lasting impact that was seen in the wake of the global financial crisis in 2008, Fed officials said. Read also: BI expects rebound in foreign capital flows later this yearThough central bankers worried that the containment efforts would spread to other areas of the country and have a ripple effect on the economy, the meeting was held before the most stringent lockdowns were imposed in most states.In the final two weeks of March, nearly 10 million people filed for unemployment benefits, and economists expect the jobless rate to hit double digits this month.But at the time of that emergency meeting – the second unscheduled meeting last month, which was held on a Sunday – officials said, “The unpredictable effects of the coronavirus outbreak were a source of major downside risks to the economic outlook.”last_img read more

Ramsdale’s positive test for COVID-19 ‘shook’ Bournemouth: Howe

first_img“But as soon as you get that one positive test, that changes the mindset of everybody. Suddenly everyone feels vulnerable, everyone is alerted to the fact that this is serious and real. Then the unknown comes into play, that shook us.”We are now waiting for our next testing times to see if anyone else was in contact with the player. I imagine anxiety is there among the players, I can only imagine they are feeling the same way as I am.”Clubs began training in small groups with social distancing protocols last week and will vote later on Wednesday on whether to move to the second phase of “Project Restart”, which would allow players to resume close-contact training.Howe said the current restrictions on training session times also posed a problem for players used to high-intensity training.”Fifteen minutes is really difficult for them to feel fully prepared because players spend a lot of time getting themselves ready physically for the demands of training,” Howe said.”The most difficult part is the social distancing, where I’m not allowed to get close to the players.” Bournemouth goalkeeper Aaron Ramsdale’s positive test for COVID-19 after his return to training has left everyone at the Premier League club shaken and anxious about their own test results, manager Eddie Howe has said.Ramsdale, who resumed non-contact training last week, confirmed he had tested positive for the novel coronavirus in the second round of testing, three days after returning a negative result in a first batch of tests.”There was not one positive within our group during the early stages and we were comfortable and felt OK,” Howe told the Daily Mail Topics :last_img read more

Inside the Gold Coast mansion where sports are king

first_img The modern kitchen is ideal for entertaining. Multiple living areas make the home feel spacious. The home theatre at 1029 Edgecliff Dr, Sanctuary Cove.The Ferrari bar, games room and home theatre keep guests amused on ground level, but after-hours action happens down in the basement Man Cave.There’s a race car simulator, television and steam room, while a line from the central cool room supplies the bar with beer on tap.“We’ve had it set up as more of a nightclub down there,” said Mr Hookey, “but we’re getting a bit old for that now.” More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago Every day is a holiday here Former cricketer and race driver Scott Hookey with his wife Lisa Hookey. Picture: Jerad WilliamsThe home has played host to sporting identities including New Zealand supercar driver Fabian Coulthard and, more recently, Australian motor racing legend Dicky Johnson.“Bernard Tomic came here to look at one of my cars and I gave him a thrashing at table tennis one time,” recalls Mr Hookey, adding that you “wouldn’t find a better house for entertaining”. Scott and Lisa Hookey have enjoyed entertaining in the Ferrari bar. Picture: Jerad WilliamsA Ferrari bar with beer on tap, 10-car basement, race car simulator, Formula One memorabilia galore … welcome to the Gold Coast home of ex-race car driver Scott Hookey.Perhaps better known for his cricketing prowess – the left-handed batsman played professionally for NSW until 1995 – a passion for sport dominates Mr Hookey’s Sanctuary Cove mansion. The Italian stilletto bath with water view.More than $300,000 of original paintings by Formula 1 artists adorn the house, including an aerial pit stop painting which covers an entire wall in the boardroom. The “Bradman Room” showcases a $100,000 collection of cricketing keepsakes, while the clubs Adam Scott used to win a Masters title in 2013 are also on display. Former cricketer and race driver Scott Hookey and wife Lisa are selling their Sanctuary Cove mansion to downsize by the sea. Picture: Jerad WilliamsMORE NEWS: Why this Gold Coast mansion has the wow factorcenter_img Cold beer on tap? Welcome to the Ferrari bar. Picture: Jerad WilliamsA Ferrari-red bar pays homage to those racing roots and features a series of limited-edition prints from Maranello, Italy, home of the iconic sports car.Also out of Italy is the bathtub — handmade in the shape of a giant stiletto and imported at a cost of $130,000. 1029 Edgecliff Dr, Sanctuary Cove. Former cricketer and race driver Scott Hooke with his wife Lisa Hookey. Picture: Jerad Williams All offers are being considered for the four-level, six-bedroom house at 1029 Edgecliff Place which has been home to Mr Hookey, wife Lisa and their family for almost five years. Designed by Stuart Osman Building Designs, Alex Phillis and Kevin Fan, of Alex Phillis Real Estate, are marketing the private, north-facing residence which occupies a 1031sq m block on wide water.The basement – flood proof with space for a car collection – is what first captured the attention of Mr Hookey, whose green Mercedes-AMG GT R takes pride of place.“I’ve been a Mercedes man all my life, despite the fact that I support Ferrari,” he said.“The Mercedes GTR is very close to one of the race cars that I drive.” After 15 years in Sanctuary Cove, the Hookeys are looking to downsize closer to the beach.“I love Sanctuary Cove, I love the fact that you can get to the golf course so easily and I love the privacy.“We like the heat and one thing we haven’t done is live near or on the beach. We’re looking at heading to Broadbeach.” A race car simulator is a fun feature in the Man Cave.last_img read more

Cheniere, EIG sanction Midship gas pipeline construction

first_imgMidship pipeline/Image courtesy of CheniereHouston-based LNG player Cheniere has awarded the final notice to proceed with the construction of a natural gas pipeline and related compression and interconnect facilities on the Midship Project.The notice was issued by Cheniere’s unit Midship Pipeline Company to Strike, M.G. Dyess, TRC Pipeline Services, and Cenergy.The Midship project received the Federal Energy Regulatory Commission clearance last month and is expected to be placed in service by the end of 2019, Cheniere noted in its statement.Cheniere previously entered into arrangements with investment funds managed by EIG Global Energy Partners for an investment of up to $500 million in the Midship project.Cheniere added that, in order to complete financing of the Midship project, Midship Pipeline entered into senior secured credit facilities with total commitments of up to approximately $680 million.The credit facilities consist of an approximate $615 million construction loan facility and a $65 million revolving credit facility.Proceeds from these credit facilities will be used to fund a portion of the costs of developing, constructing, and placing into service the Midship project, to fund working capital requirements, and for related general corporate purposes.The project entails the development of a natural gas pipeline with a firm transportation capacity of up to 1,440,000 Dth/d connecting new gas production from the Anadarko Basin in Oklahoma to Gulf Coast and Southeast markets via deliveries to existing pipelines.last_img read more

JFD Adds Ansti Test Systems

first_imgJFD has acquired Ansti Test Systems – designer and manufacturer of test facilities for performance measurement of underwater breathing apparatus.Ansti Test Systems provides turnkey packages which utilise computerised data acquisition techniques to display the performance of breathing apparatus under test, in real time. The systems can be configured to meet requirements for any diving equipment and life support systems.Giovanni Corbetta, managing director, JFD, said:“Ansti Test Systems comes with a strong track record in underwater diving testing including a global client base spanning over 60 organisations, more than 5,000 regulator tests for SCUBA manufacturers worldwide, and technical consultancy for various diving related projects. “This extensive experience complements JFD’s existing subsea support operations and will provide a significant contribution to our long-term ambition of protecting and preserving lives in the commercial and defence industries.”As part of the acquisition both Ian Himmens and Stan Ellis will work with JFD on a consultancy basis to assist during the transition period and beyond.last_img read more

Shooting incident lands man in hospital

first_imgThe 28-year-old resident Mario Garces Jr. wastagged as the suspect, police said. Arsalem was driving a motorcycle when Garcesshot him using an unknown firearm around 8 a.m. on Sept. 22, the reportadded.   The motive in the incident was not immediatelyestablished. Wounded was 35-year-old resident ZaldyArsalem. He sustained a gunshot wound on the elbow, a police reportshowed.   center_img BACOLOD City – Police are still locating thesuspect in the shooting of a man in Barangay Tan-awan, Kabankalan City, NegrosOccidental.       Arsalem received treatment at the CorazonLocsin Montelibano Memorial Regional Hospital in this city./PNlast_img

Liverpool one game from EPL title after thrashing Palace

first_imgTrent Alexander-Arnold’s stunning 23rd minute free kick beat the visitors’ defensive wall and goalkeeper Wayne Hennessey before nestling in the top corner to give Liverpool a deserved lead on their way to a 23rd consecutive Anfield win in the Premier League.Salah doubled the hosts’ advantage in the 44th minute, latching onto Fabinho’s lofted through-ball before beating Palace full-back Patrick van Aanholt to score past Hennessey from close range.Fabinho added a third on 55 minutes with a long-range rocket of a strike from around 30 yards out that left Hennessey no chance. Loading… Promoted Content2020 Tattoo Trends: Here’s What You’ll See This Year18 Cities With Neverending Tourist-FlowTop 10 Most Romantic Nations In The WorldA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This DayRihanna Is Getting Her Own Museum In BarbadosPlaying Games For Hours Can Do This To Your Body8 Weird Facts About Coffee That Will Surprise You8 Things To Expect If An Asteroid Hits Our PlanetA Hurricane Can Be As Powerful As 10 Atomic BombsThis Is The First Meme Ever, According To The Internet14 Hilarious Comics Made By Women You Need To Follow Right NowWho Is The Most Powerful Woman On Earth? Read Also: Video: Vinicius clips Real Madrid in front against Real MallorcaSalah turned provider from Liverpool’s defensive half for the fourth goal after 69 minutes, an incisive first-time through-ball playing in Sadio Mane to bend a shot into the corner of the net.Second-placed Manchester City play on Thursday against Chelsea and should they fail to win Liverpool will be crowned champions of the Premier League.FacebookTwitterWhatsAppEmail分享 center_img Liverpool moved within one game of the Premier League title after returning to their irrepressible best to beat Crystal Palace 4-0 on Wednesday night. Liverpool cruised to victory against Crystal Palace A goalless draw against Everton on Sunday had raised questions about Jurgen Klopp’s side following the return of the Premier League earlier this month.Advertisement What did you miss? The latest from Europe’s top leagues But the Liverpool manager made four changes to the side that struggled in the Merseyside derby, restoring Mohamed Salah, Andrew Robertson and Georginio Wijnaldum to the starting line-up in the process and he wasn’t made to wait long for any doubts to be dismissed.last_img read more

Wolla takes winning ways to Texas for $5,000 Fall Classic IMCA Modified checkers

first_imgJason Wolla was the $5,000 IMCA Modified main event winner at Heart O’ Texas Speedway’s weekend Fall Classic. (Photo by Stacy Kolar, Southern Sass Photography)Wolla takes winning ways to Texas for $5,000 Fall Classic IMCA Modified checkersWACO, Texas (Oct. 27) – Add Texas to the list of states Jason Wolla has scored first-time wins in this season.Wolla topped the IMCA Modified main event at the Heart O’ Texas Fall Classic, leading the last 15 of 25 circuits to earn the $5,000 top prize.“The thing I liked best about this was that any time you can go to a track you’ve never been to and win, it says a lot about your race program,” he said following his biggest IMCA career payday. “This season we went to Kansas, Montana and Texas and won for the first time in each state. We’ve had a lot of fun traveling.”Wolla had started fourth, was running second when a well-time caution came out and used multi­ple lines to work his way into the lead. He had a comfortable lead on the rest of the field when he caught up with lapped traffic late in the race.Outside pole starter Anthony Roth ended in second while 11th starting Tom Berry was third. IMCA na­tional rookie of the year Jeffrey Abbey and 15th starting Kelly Shryock completed the top five.Hard charger Cory Davis, winner of the $10,000 IMCA.TV Dirt Dominator race, advanced a dozen positions from his original starting spot to end in eighth.“Heart O’ Texas is a little bullring, a track with a lot of character,” said Wolla, who counted 14 victo­ries at eight different tracks, plus a qualifying feature and the Harris Auto Racing Race of Champions at Boone Speedway during the IMCA Speedway Motors Super Nationals fueled by Casey’s this season. “It’s real small and definitely not what we’re used to in North Dakota. I think it’s similar to Benton County Speedway (in Iowa) where we’ve raced and won before. We defi­nitely take notes at the places we race and that helps you later on.”Wolla was already on the Fast Shafts All-Star Invitational ballot.Nearly 300 cars packed the pits at HO’T for the 21st annual Fall Classic, completed despite wet weather leading up to the weekend. Gabe Tucker topped the $1,500 to win Smiley’s Racing Products Southern SportMod feature and Benji Kirkpatrick motored to the $1,500 first prize for IMCA Sunoco Stock Cars.Pole starter Tucker fell back to fourth in the Southern SportMod headliner as Jeff Sheppherd, Garrett Rawls and Eddie Grmela were faster early on.“They were really quick,” Tucker said. “It took me a little while to find my line. You had to get up on the wheel and be aggressive, which was hard to do and not run over your neighbor.”The 2018 national champion worked his way to the lead by midway, then inched away from the pack after the only caution waved on the 14th of 20 laps. Shepperd, Rawls and Brandon Geurin rounded out the top four.Kirkpatrick had started outside the front row and slipped back a couple spots, then made a nifty move inside and led the last 18 times around the track in the Stock Car feature.A multi-car tangle took out his closest challengers late in the contest. Dillon Smith started 14th and went from sixth to the runner-up position in the final two laps. Damon Hammond and Billy Wade were third and fourth, respectively.Feature ResultsModifieds – 1. Jason Wolla; 2. Anthony Roth; 3. Tom Berry Jr.; 4. Jeffrey Abbey; 5. Kelly Shryock; 6. John Gober; 7. Garrett Higgins; 8. Cory Davis; 9. Kevin Green; 10. Eric Tomlinson; 11. Mat Hollerich; 12. Fred Wojtek; 13. Chris Morris; 14. Brandon Hood; 15. Chase Allen; 16. J.P. Dowell; 17. Nick Roberts; 18. Paul White; 19. Brian Schultz; 20. Kevin Sustaire; 21. David Goode Jr.; 22. Josh McGaha; 23. Jake Henderson; 24. Greg Dinsmore.Southern SportMods – 1. Gabe Tucker; 2. Jeff Shepperd; 3. Garett Rawls; 4. Brandon Geurin; 5. James Guyton; 6. Eddie Grmela; 7. T.J. Green; 8. Tyler Bragg; 9. Taylor Florio; 10. Michael Mar­tin; 11. Joel Garcia; 12. Rusty Head; 13. James Hanusch; 14. Bobby Ortega; 15. Chris Chamber­lain; 16. Ray Smith; 17. Kevin Ward; 18. Jason Kingery; 19. Kyle Wilkins; 20. Kevin manning; 21. Hayden Wade; 22. Casey Brunson; 23. Brian Walker; 24. Collin Montgomery; 25. Chad Fitzger­ald; 26. Joe Browning; 27. Billy Lindsey.Stock Cars – 1. Benji Kirkpatrick; 2. Dillon Smith; 3. Damon Hammond; 4. Billy Wade; 5. Tyler Muirhead; 6. Andy Roller; 7. Austin Smith; 8. Bryan Schutte; 9. A.J. Dancer; 10. Travis Norman; 11. Lewis Blackwood; 12. Brandon Prewett; 13. George Egbert; 14. Christopher Bruner; 15. Char­lie Brown; 16. Jason Riddle; 17. G.W. Egbert IV; 18. Dean Abbey; 19. Westin Abbey; 20. John Frydrych; 21. Jamey Lough; 22. Don Chamblee.last_img read more

McAuley has no complaints over red

first_img Press Association “I wouldn’t say it was harsh, it’s within the rules of the game,” he said after a turgid 0-0 shutout. “I had a split-second to make the decision because their guy made a great pass in behind. “I saw he was getting there first so I just took everything out. I nearly walked and I was just waiting for the red card really. “I don’t know if it was good decision or a bad one or what, but it denied a goalscoring opportunity and we got the clean sheet so we move on.” While McAuley did not have any issue with the official’s performance, he was more critical of what he and his colleagues contributed on the night. It was a performance as bad as any in recent memory from Northern Ireland, devoid of attacking flair and frequently guilty of sloppy distribution. Tellingly, it was the visiting side who were most pleased to reach the end of each half unscathed against a side ranked 122nd in the world. “It didn’t spark,” admitted McAuley. Northern Ireland defender Gareth McAuley had no qualms about the decision to send him off in Wednesday’s dire goalless draw in Cyprus. McAuley was back after two matches out to bolster a defence missing Jonny Evans and Aaron Hughes, but saw his night end early when he was dismissed for a messy lunge at Dimitris Christofis. It was debatable whether the West Brom centre-back was guilty of denying a scoring opportunity – with the incident taking place close to the touchline 30 yards out – but the 34-year-old made no attempt to blame the referee. “We’ve all got personal standards and I don’t think enough of us reached them on this occasion. “You go away and analyse your own performance and Michael will do that for the group. Next time we get together we’ll speak about what we could have done better and there will be a lot of things on that list. “In the first half we tried to play in the wrong areas. We invited pressure from them and got nervous, making a lot of mistakes on the ball. “We need to learn from that because there are no mugs now in international football and we’ve got some tough games in the group where we can’t invite pressure or allow them to get on the front foot.” The game took place in a near deserted GSP Stadium, with the lure of free entry not enough to attract more than a smattering of local fans. At times the game felt like a glorified training session, but captain Steven Davis will not accept that as a reason for his side’s uninspired showing. “The lack of atmosphere wasn’t ideal but if you go looking for excuses you’re going to find them,” he told Press Association Sport. “The performance in the first half was very flat and it felt like we never got going. “It wasn’t a good performance from us and it’s one we’re disappointed in because we were a yard off the pace, especially in the first half. “You wouldn’t say there were really any positives to take but in the second half we had a bit of spirit about us and we dug in when we went down to 10 men.” The fixture will have dampened some of the enthusiasm that was built by a relatively kind Euro 2016 draw, with Davis adding: “It’s better a performance like that happens now than when the qualifiers start up again. “But there’s a lot of work to do and we need to do better.” last_img read more

Cricket News India vs West Indies 2nd T20I, Preview: Men in Blue look to continue winning run in Lucknow

first_imgNew Delhi: The opening T20I summed up at least part of the limited-overs portion of the Windies’ difficult tour of India: so close, yet so far. Team India’s first ever home T20I without MS Dhoni in the side (of a total of 32) didn’t entirely go to plan, with the home side crumbling to 45/4 chasing a target of under a run a ball.This Windies tour has become a great opportunity to take international cricket to parts of the country that rarely experience the elite product, and the Uttar Pradesh city of Lucknow gets its turn as it inaugurated a new stadium – the Bharat Ratna Atal Bihari Vajpayee Ekana Cricket Stadium.A West Indies side full of Caribbean Premier League (CPL) stars, as well as the return of veterans Kieron Pollard and Darren Bravo, couldn’t get the job done with the bat and yet still managed to turn their meagre 109 into a difficult chase for the hosts in Kolkata.With victory in the first T20I, India have now won nine of their last ten in the shortest format of the game, and seven in a row when chasing.Conversely, the Windies have won just two of their last 11 (No Result 1, Defeats 8), with one at home against Bangladesh and another against a piecemeal World XI team.The Lucknow locals will be kicking off Diwali celebrations a day early when the Windies come to town and we can expect this 50,000-seater stadium to be packed as the city hosts international cricket for the first time in 24 years.The Bharat Ratna Atal Bihari Vajpayee Ekana Cricket Stadium has hosted four first-class (Ranji and Duleep Trophies) matches, with the average runs per wicket at 27.7. It has a fairly large outfield, with straight boundaries of 65+ yards and square boundaries of 87+ yards.Players to watch: Rohit Sharma and Shikhar Dhawan (India) are just eight runs apart for the calendar year (445-437), both with strike rates in the mid-140s. It’s almost certain that at least one of them will have a big inning. Whereas Oshane Thomas (Windies) displayed the kind of express pace and variation in game 1 that earned him a league-best 18 wickets in the CPL. He has dismissed Dhawan three times this tour, conceding just ten runs from the Indian opener.Stat attack: India have won their last five T20Is at home.Milestone: Shikhar Dhawan needs just 27 more runs to reach 1,000 T20I runs. Whereas, Jasprit Bumrah is now in the top 30 in the world for lowest T20I economy rates with 6.75 (min. 500 balls, including retired/inactive players) For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more