first_imgView comments Spoelstra, 47, and his wife announced earlier Wednesday that they are expecting their first child, a son.Lauri Markkanen scored 25 points and Robin Lopez added 22 for the Bulls, who were 7 for 28 from 3-point range and got five of those makes in the final 2 minutes. Chicago fell to 1-5, matching its worst start since 2007-08.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutDion Waiters also scored 13 for the Heat, who were without starting forward James Johnson — a late scratch with right knee tendinitis.Miami was rolling early, up 20-6 after 8 minutes and 35-20 midway through the second quarter. The Bulls started 1 for 10 from the floor, Whiteside had eight rebounds in the game’s first 4:50 and everything was working for Miami. Heat: Whiteside made his 200th appearance with the Heat. … This was one of Miami’s four November home games. The Heat play at home three times in the next four weeks, and have 17 of their next 24 on the road. … Miami hasn’t lost four straight games in the same homestand since March 10-16, 2008. … Justise Winslow made his first shot, giving him seven straight makes over three games.NEW ERAWednesday marked the first time since March 26, 2003 that the Heat and Bulls played and Dwyane Wade wasn’t on either roster. Miami and Chicago played 71 times between 2003-04 and last season; Wade played for Miami in 64 of those games, sat out four and played for Chicago in the three Bulls-Heat matchups last season.SPO STATSAmong the 30 current NBA coaches, only San Antonio’s Gregg Popovich has held his job longer than Spoelstra. But there are only nine coaches who are younger than the Heat sideline boss: Luke Walton, Tyronn Lue, Brad Stevens, Dave Joerger, former Heat assistant David Fizdale, Frank Vogel, Jason Kidd, Michael Malone and Hoiberg. Japan ex-PM Nakasone who boosted ties with US dies at 101 Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games That is, until the Bulls started attacking.A 24-10 run by Chicago tied the game late in the half, seven of those field goals by the Bulls coming in close proximity to the rim. Chicago led by as many as six in the third and probably should have been up more, missing five shots at the rim late in the quarter.The Heat reclaimed the lead with a 10-1 run to end the third, Tyler Johnson scoring five of those points and Dragic hitting a late 3 as Miami took a 67-64 lead into the fourth.TIP INSBulls: Chicago tinkered with its starting lineup, adding David Nwaba and having Paul Zipser come off the bench. Bulls coach Fred Hoiberg is exploring certain combinations ahead of the looming return of Bobby Portis (suspension). … The Bulls trailed by as many as 14 in the first quarter, the earliest they’d faced such a deficit so early this season. … Justin Holiday missed 12 of his first 13 shots.ADVERTISEMENT Brace for potentially devastating typhoon approaching PH – NDRRMC Read Next LATEST STORIES Stronger peso trims PH debt value to P7.9 trillion Typhoon Kammuri accelerates, gains strength en route to PH AFPMIAMI — Goran Dragic scored 20 points and Tyler Johnson added 19 as the Miami Heat beat the Chicago Bulls 97-91 on Wednesday (Thursday Manila time) to end a three-game slide.Hassan Whiteside returned from a five-game absence with a bruised knee and scored 13 points and grabbed 14 rebounds for the Heat, who went 3-3 on their six-game homestand and gave coach Erik Spoelstra what has apparently become his annual gift — it was the fourth straight year Miami played and won on his birthday.ADVERTISEMENT Kammuri turning to super typhoon less likely but possible — Pagasa CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Hayward, in blog post, expresses thanks for support QC cops nab robbery gang leader, cohort John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding MOST READ Don’t miss out on the latest news and information. last_img read more

first_imgChot chooses Gilas veterans Don’t miss out on the latest news and information. LATEST STORIES Stronger peso trims PH debt value to P7.9 trillion Cignal will once again parade the core of the Red Lions, fresh from their triumph in NCAA Season 93, with 2017 Aspirants’ Cup Season MVP Robert Bolick and hardworking forward Javee Mocon counted on to provide the leadership.The Hawkeyes edged Racal Motors in three games in the Aspirants’ Cup Finals last season before making it a championship double with a sweep of Centro Escolar University in the Foundation Cup.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutAlready the winningest mentor in the developmental ranks, Fernandez pushed his PBA D-League title collection to eight championships.Cignal, however, has lost valuable members of its championship teams with Raymar Jose and Jason Perkins being picked in the top four of the 2017 PBA Rookie Draft and Pamboy Raymundo and Oping Sumalinog joining Tanduay Alab Pilipinas in the ASEAN Basketball League. Photo by Tristan Tamayo/ INQUIRER.netReigning back-to-back titlist Cignal HD-San Beda will be returning to the PBA D-League after all.Coach Boyet Fernandez and his boys are returning to defend the throne for the Hawkeyes as they push the participating teams this upcoming 2018 PBA D-League Aspirants’ Cup to 13 squads.ADVERTISEMENT Japan ex-PM Nakasone who boosted ties with US dies at 101 Kammuri turning to super typhoon less likely but possible — Pagasa Kris Aquino ‘pretty chill about becoming irrelevant’ View commentscenter_img CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Read Next The Hawkeyes’ entry also increased the number of school-based teams to eight this first conference, while also bringing the count of participants to a record-tying 13, the same number of teams which joined the 2011 Foundation Cup.Aside from Cignal, also joining this year are CEU, Tanduay, Marinerong Pilipino, Batangas-EAC, Zark’s Burger-Lyceum, JRU, AMA Online Education, Wangs Basketball, Gamboa Coffee Mix, and newcomers Perpetual, Powerball-St. Benilde, and Mila’s Lechon.The 2018 PBA D-League Aspirants’ Cup tips off on January 18.ADVERTISEMENT MOST READ QC cops nab robbery gang leader, cohort Brace for potentially devastating typhoon approaching PH – NDRRMC Typhoon Kammuri accelerates, gains strength en route to PH Makabayan bloc defends protesting workers, tells Año to ‘shut up’ PLAY LIST 02:11Makabayan bloc defends protesting workers, tells Año to ‘shut up’01:50Palace defends Duterte’s absences from Asean events00:50Trending Articles01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justicelast_img read more

first_imgThe Supreme Court has asked Committee of Administrators (COA) chief Vinod Rai and member Diana Edulji to not go public over their differences. Earlier, Diana Edulji has squashed rumours of a rift between her and chairman Vinod Rai on the issue of Pakistan’s participation in the ICC World Cup.There were reports claiming that Edulji was not in favour of Rai’s decision to ask the Board of Control for Cricket in India (BCCI) CEO Rahul Johri to write a letter to the International Cricket Council urging them to ban Pakistan from the World Cup in May-June.But Edulji cleared the air on this issue stating that, “There are no differences between the COA members on the issue. We will be meeting on Friday after which a collective decision will be taken taking into account all factors.”The apex court, while observing that it was “partially aware” of what was going on in the CoA, said that whosoever is involved in these issues, they should not bring it in public domain.”We have heard in newspaper reports that some sparring is going on between CoA members. We want to know is it correct?” asked a bench comprising Justices S A Bobde and A M Sapre.Senior advocate Parag Tripathi, appearing for the CoA, responded, “Not on core issues.”To this, the bench said, “We have thought to tell the amicus curiae to inform them (CoA members) that whosoever is involved, they should not bring it in public domain. It should not come in public domain”.advertisementIn 2017, the apex court had appointed a four-member CoA, headed by former Comptroller and Auditor General of India (CAG) Vinod Rai, to run the affairs of Board of Control for Cricket in India (BCCI) and implement the court-approved recommendations of the Justice R M Lodha panel on reforms in the cash-rich cricket body.The other three members of the CoA were — former Indian women cricket captain Diana Edulji, famous historian Ramachandra Guha and banker Vikram Limaye.Following the resignations of Guha and Limaye, the CoA presently has only two members — Rai and Edulji.The two-member CoA has been divided on several matters including the recent controversy involving cricketers Hardik Pandya and K L Rahul.Pandya and Rahul had attracted widespread criticism for their alleged misogynistic comments on TV Show ‘Koffee with Karan’.Rai had reportedly recommended a two-match ban on Pandya and Rahul, but Edulji had taken the matter to the BCCI legal cell which refused to call the players’ actions a violation of the code of conduct and recommended the appointment of an ombudsman.The CoA chief and Edulji had also reportedly differed on the controversy relating to exclusion of Indian women cricketer Mithali Raj from the playing 11 in the crucial semi-final match of the recently concluded women’s world cup.During the hearing on Thursday, senior advocate P S Narasimha, assisting the court as an amicus curiae in the BCCI matter, told the court that earlier there were four members in CoA but now there were only two.”We will appoint the members,” the bench said.To this, senior advocate Kapil Sibal, appearing for a state cricket association, said the number of members in CoA should have been odd.Narasimha also said the CoA should comprise of three members.Sibal told the court that CoA would mean that BCCI would be “sidelined completely”.However, the bench said, “We understand that. It (CoA) will be till further orders. Can we do it in-chamber? We have a name in our mind. We will pass an order”.Later, the bench observed that the CoA may also comprise of five members.”We are partially aware of what is going on in CoA,” the bench observed.The counsel appearing for some of the state cricket associations told the court that CoA has not released funds to them.Solicitor General Tushar Mehta, appearing for Maharashtra Cricket Association, said the condition was “precarious” as their stadium has been attached in a court proceeding and they have not been given funds by the CoA.Sibal argued that for the last three years, “not a single penny has been given to the state cricket associations”.Tripathi told the bench that funds were released directly to the respective vendors for the works done by them.”As long as people are playing the game and cricket is going on, we are not concerned,” the bench observed.It asked Narasimha to advise the CoA to release funds to the state cricket associations for cricketing purpose.advertisement”At the moment, let CoA be re-constituted and they can seek advise of P S Narasimha and then release funds. We are not going to loon into the accounts,” the bench said, adding, “We think that CoA is not utilising the services of amicus. Let them do it”.Meanwhile, the apex court issued notice to the CoA on an application of BJP leader Anurag Thakur, who was removed by the top court from the post of BCCI president in 2017 for obstructing its directions for overhauling governance in the cricket body, that he be allowed to contest and get back into the elected body of the BCCI.”My problem is that I am being barred (from BCCI) and have no remedy for the last two years,” senior advocate P S Patwalia, appearing for Thakur, said.Also Read | India should put pressure on ICC to throw Pakistan out of the World Cup: Chetan ChauhanAlso Read | World Cup not more important than the country, say Harbhajan and Azharuddinlast_img read more

first_imgAbout the authorPaul VegasShare the loveHave your say Arsenal boss Emery: Very young Guendouzi offers many thingsby Paul Vegas10 months agoSend to a friendShare the loveArsenal boss Unai Emery is delighted with the impact of Matteo Guendouzi.Guendouzi was booked for the fourth time this season in the feisty 3-1 win over Burnley.That was the 19-year-old’s 15th Premier League appearance of a season which began with him excelling even in defeat to Manchester City and has seen him establish himself as the latest youngster to take Arsenal by storm.“I am very happy with Matteo, he’s improving a lot and helping us,” said Emery. “He gives us a lot of moments in the team with combination and quality, with the possibility to play with our style.“He needs to improve more, to continue his progress with us. He’s very young.” last_img read more

first_imgRoku has started rolling out a software rollout in the UK, adding two new features designed to make it easier to find and follow content – Roku Search and the Roku Feed.  The update will be available on all current generation Roku players and Roku has at the same time this week launched its new, upgraded Roku 2 player in the UK.Roku Search will allow users to search for movies, TV shows, actors and directors, with the results to show the availability and price of this content across different channels.At launch, Netflix, Snagfilms and Popcornflix will support this search functionality in the UK, with more channels expected t be added over time.Roku’s new My Feed function lets users follow upcoming entertainment they want to watch, with an initial focus on  ‘Movies Coming Soon’, which will give reminders on when titles are available to stream, on what channel and at what price.Roku also said that a new version of the Roku Mobile App for Anrdroid and iOS and Android, with support for the new search and discovery features, is available now.Roku first announced the new Roku Search and Roku Feed functionality, and started to roll it out in the US, last month.The new Roku 2 player will be available in the UK starting this week from Argos, Curry’s and Amazon.last_img read more

first_img Gross profit (billions $) 14.7 Other 16.7 Addition of carriers. Currently, Apple has relationships with and supplies about 250 carriers in over 100 countries. However, there is significant potential for growth with telecoms that do not have relationships with Apple. China Mobile – China’s largest telecom with over 700 million subscribers – is a prominent example. We’ve concluded that adding carriers in emerging markets could provide Apple with an incremental 60 million units of iPhone sales annually. However, carrier expansion will likely be pushed out toward the back half of 2013 and into 2014. In the following calculation of gross profit for Apple’s iPhone segment for 2014, we have assumed a unit volume of 185 million. We’ve also modeled the impact that a low-cost phone will have on average sales price and gross margins. High customer satisfaction around other Apple products (iPods, iPhones, and iPads) creates a halo effect, which drives customers to Macs when they are ready to buy a PC. For these reasons, we think Apple’s Mac sales will continue to resist the overall trend, and at worst, remain flat for the next 18 months. We also foresee little change in average sales price and margins. Here’s our resulting forecast for the PC segment: Gross profit % 46 Units (millions) 18.2 The case presented above yielded earnings per share of $50.32 for fiscal year 2014. Currently, Apple’s share price multiple is about 10 times, well below the current market multiple of 18. This may seem too low; however, we think this is a good number to apply to our estimate. Multiples are usually a reflection of anticipated growth. Because Apple faces the law of large numbers, the market is apt to be perpetually nervous about its ability to grow, and therefore will continue to assign it a low earnings multiple. Nevertheless, 10 times our earnings estimate would result in a share price of $503, a return of about 25% in 18 months. This is by no means a spectacular return, but it is based on conservative projections. So it is, in our view, very achievable. What Will Move Apple Just as a stationary ball needs a push to provide it initial momentum, the undervalued stock needs a catalyst to fuel its price move. With Hewlett-Packard, a stock we recommended in the October issue of BIG TECH, one catalyst we foresaw was breakup speculation. Our thinking was that Hewlett-Packard had become so grossly undervalued, that it was only a matter of time before activist investors and Wall Street analysts began calling for a breakup of the company as a way to unlock shareholder value. That’s exactly what happened. We were also helped along by another catalyst: the Dell buyout news. When it was all said and done, our strategy yielded a 50% profit in just shy of five months. Never let it be said value investing is boring. With Apple, there are a handful of short-term catalysts that could send the stock higher. The ones that immediately come to mind are: The successful launch of a new product – such as the long-rumored smart TV and/or the iWatch – that catches fire in the marketplace. A deal to distribute iPhones with China Mobile, China’s largest mobile network provider with over 700 million subscribers. A sizable dividend hike and/or a sizable share buyback. On the flip side, a disappointing earnings report could send shares lower. But that’s probably baked into the cake. And besides, CEO Tim Cook will probably have some good news in his hip pocket (i.e., a big dividend hike) if he thinks earnings will disappoint. Of course, there’s always the possibility of a major market correction. If that happens, almost every stock will get hit. But since Apple is down big over the last few months, it will probably withstand a downturn better than most. Long story short, Apple possesses the characteristics we look for in a stock. Given its future earnings prospects, it looks undervalued, and it has multiple short-term catalysts. For these reasons, it looks like a decent buy at current levels. Bits & Bytes The Alibaba Phenomenon (The Economist) When thinking of e-commerce companies, Alibaba is probably not one of the first names that comes to mind… but that may soon change. Rumor has it that China’s e-commerce king is planning to go public, with valuation estimates ranging from $55 billion to more than $120 billion. That would make it one of the most valuable publicly traded companies in the world. Bitcoin ATMs Coming Soon (CNN Money) Bitcoins are taking a step into the real world, with an entrepreneur planning to introduce ATMs for the virtual currency. The Bitcoin ATMs will accept dollar bills and instantly convert the amount to Bitcoins and deposit the result in your account. Aereo Could Bring Down Broadcast TV (CNN Money) Aereo, an upstart online service which provides low-cost access to broadcast TV over the Internet, could be a huge step toward a future when programming options come à la carte, divorced from the expensive packages assembled by cable and satellite carriers. Tablets The tablet computer – a cross between a laptop, a smartphone, and a personal digital assistant – is not a new concept. Computer scientist Alan Kay began advancing ideas about component miniaturization, touchscreens, and WiFi technology way back in 1968. However, not until 2010 did any version of the tablet meet with meaningful commercial success. That’s the year that Apple launched the iPad. On launch day, 300,000 iPads were sold. Over the next year, more than 15 million were sold. The era of the tablet had arrived. Why did it take so long? Well, there were some attendant and powerful circumstances that prevailed in 2010 that either did not exist or were not sufficiently mature during earlier attempts to market tablets. Though inferior to the PC for content creation, the tablet is ideal for content consumption. Thanks to the advent of the Internet and WiFi and the spawning of thousands of apps, there is now a lot of content to consume. In addition, battery life has been extended from three hours on early versions of the tablet to over 12 hours on some current models, making these devices more portable and, therefore, more appealing to consumers. Those circumstances have driven astonishing adoption rates every year since 2010. In fact, the market for tablets has ramped up faster than any technology in history. 38.7 Personal Computers Much has been written in recent years about the decline in sales of personal computers (desktops and notebooks). As we all know by now, mobile computing devices are the cause. As consumers shift their time away from their PC to tablets and smartphones, they no longer see their PC as a device that they need to replace on a regular basis. According to Gartner, PC shipments peaked in 2011 at 364 million units, a 3.7% increase over the prior year. In 2012, year-over-year shipments decreased by 6.3%, and the slide is expected to continue in 2013 and 2014, with decreases of 7.6% and 4.1% respectively. However, Apple’s Mac division has experienced no such letdown; unit sales of Apple personal computers actually increased by 9% for the 2012 fiscal year. We think Apple is defying the PC trend for two main reasons: Apple serves the high end of the PC market. Because these high-end users are content creators, they are less likely to abandon the Mac for a tablet. Revenue* 108.3 Operating expenses* (Click on image to enlarge) This is not a fad. Rather, it is structural and will prevail for many years. Technology research firm IDC estimates that tablet shipments will reach 191 million units in 2013 and grow at a compounded annual rate of 16.6% for four years thereafter. Upon reinventing the tablet category in 2010, Apple dominated the market with a whopping 70% share. Since then, several formidable competitors have entered the fray, including Samsung, Amazon, and Microsoft. For the fourth quarter of 2012, Apple’s share had dropped to 46%, owing to the increased number of competitors and to Apple’s unwillingness to participate in a race to the bottom on pricing. IDC estimates that by 2017, the company’s share will drop to 43.5%. Conservatively, we have built our projections on the assumption that its share will be 40% for next fiscal year (September 2014). For fiscal year 2012, the average sale price of an iPad was about $531. However, in November 2012, Apple released the iPad Mini with a retail price of $329. Estimates are that the Mini will comprise 40% of total iPad sales. We estimate that that will lower the average sale price to about $450. Gross margin on iPads was 42.7% during fiscal year 2012, but the shift in sales mix to the Mini will put downward pressure on those margins. We estimate margins will fall to 38% for tablets in 2013 and stabilize at that level for 2014. Putting this all together, here is our projection for tablets down to the gross profit line for 2014: PCs Tablets Gross profit % 24.5 Apple units (millions units) 86 Gross profit % 38 When the market turns against a stock, watch out. Just ask Apple investors. From its peak just seven months ago, Apple is down over 40%. That’s an incredible move for a company of Apple’s size. Several factors have contributed to the decline, including: management departures, low-cost competition, and concerns that Apple’s well of innovation may have run dry with the loss of Steve Jobs. Each of these factors is cause for concern. However, healthy skepticism can quickly give way to a herd mentality, causing an overreaction in share price. Could that be what we’re seeing with Apple? To find out, we decided to take a look at the prospects for each of Apple’s major business segments. Smartphones Worldwide shipments of smartphones topped 700 million units in 2012, according to tech research firm IDC, an increase of 46% over 2011. Torrid growth is expected to continue; in 2013, IDC expects a 27% increase in smartphone shipments and another 17% in 2014, lifting sales to over 1 billion units annually. Analysts look for Apple’s smartphone growth to stay pretty much in lockstep with the market: fiscal year 2013 iPhone shipments are estimated to increase by about 25% (from 125 million to 156 million units), while a 19% increase is foreseen for FY 2014 (from 156 million to 185 million units). These estimates look very achievable and possibly even conservative. Here’s why: Introduction of a low-cost phone. In the US, Apple depends heavily upon a carrier-subsidized business model. Under this model, Verizon, AT&T, and other telecoms buy iPhones from Apple, then resell them to consumers well below their costs. In exchange for the discount received on the phone, the consumer signs a long-term contract (typically two years) with the carrier. In many regions outside the US, the subsidy model is not utilized. In order to penetrate the market in those regions, Apple needs a low-cost phone. Speculation has it that such a phone is on the way and will be introduced sometime around mid-year. In addition to driving growth internationally, an iPhone in the $300-$400 price range should help Apple capture share with non-contract (known as prepaid) US carriers. Pre-tax income* Revenue (billions $) 23.2 26.1 Units (millions) 185 Putting It All Together In the table below, we aggregate the information for the segments we discussed above. We add in the combined revenues from the iPod, iTunes, and accessories segments with the assumption that the iPod segment will decline at a 25% annual rate, while iTunes and accessories will increase at about a 12% annual rate. And finally, we assume that operating expenses and income taxes, consistent with the last two years, will be 8.5% of sales and 25% of pre-tax profits, respectively. 39.5 Income tax* Gross profit % 46.0 Refresh of iPhone 5. The iPhone 5 is due for a refresh. One is expected at mid-year, about the same time as the low-cost phone introduction. If that’s the case, it will be just in time for the upgrade cycle, as iPhone 4 customers who bought phones in the fall of 2011 will be coming off their two-year contracts and looking for new subsidized phones. It’s a safe bet that most of these customers will stick with Apple. A recent survey from Morgan Stanley and AlphaWise found that Apple leads the smartphone industry in customer retention. Among those surveyed, 83% of iPhone users said they plan to buy another iPhone. Total 63.8 Average sale price     450 23.2 Revenue (billions $) 108.3 Average sale price 585 Addressable market (millions units) 214 24.5 10.3 14.7 41.0 * Numbers in billions Gross profit (billions $) 5.7 Gross profit* 49.8 Average sale price 1,275 Net income* Revenue (billions $) 38.7 196.3 Smartphones 38.8 5.7 Apple share 40% 80.5 47.8 16.0 Gross profit (billions $) 49.8last_img read more

first_imgIn This Issue. *  Tapering is “all priced-in”. *  Summers says thanks but no-thanks. *  Retail Sales disappoint in the U.S. *  Gold manipulation whistleblowers. And, Now, Today’s Pfennig For Your Thoughts! Dollar Gets Sold Like Funnel Cakes At A State Fair! Good day.  And a Marvelous Monday to you! What a wonderful weather-wise weekend (how about that poetic use of alliteration so early in the morning!)  for us here in St. Louis this past weekend! We had our “block party” in the subdivision that I live in, so that was a good time, and the grandkids had a “dance party” at the house Friday night, so darn cute! Well, I came in this morning, turned on the currency screens, and what to my surprise! A currency rally! 2 days before the Fed will announce tapering to boot! So, what gives? Why would the dollar be getting sold now? Ahhh grasshopper, come, sit, and listen to a tale of what they call in the markets of an event being “priced in”. Apparently, traders came to the realization last night that the Fed’s tapering, is already “priced in”, and the only thing left is for the Fed to disappoint them, with the announcement of a small amount of pull-back, or a delay. So, the dollar is getting sold like funnel cakes at a state fair this morning. The other item that’s weighing on the dollar was the announcement this weekend that Lawrence Summers has withdrawn his name from the list of those wishing to be the next Fed Chairman.  OK. there are three things here that come to mind as to why Mr. Summers decided to pull out ahead of the nomination process. 1. He could have skeletons in his closet, and the confirmation process would expose those. 2. He got a glimpse of the Fed’s balance sheet, and decided that he didn’t want to be the one who’s name was attached to that mess. or 3. He read the Pfennig last week, and got scared.  So, actually, I think he took what was behind door #2, with #3 coming in close! So, here’s the skinny on why this news is bad for the dollar. You see, Summers was thought to have been a Fed Chairman that would favor tightening at a much quicker pace, and higher interest rates in the U.S. is what a lot of traders were looking forward to. On the other hand, Janet Yellen, the other person close to the nomination is thought to be “pro-growth”, which means interest rates would remain near zero longer.  And, before we go any further, you all know that I’m just having some fun with his reasons for withdrawing his name, right? So, there you go! Two reasons for the currency rally and dollar selling this morning! Let’s review very quickly. The markets came to the realization that they had already priced-in the Fed tapering this week, too far. and 2. Summers grabs his hat from the Fed Chairman ring. On a side bar. Wouldn’t it be something if Janet Yellen also withdrew her name as a Fed Chairman possibility? Then NY Fed Head Dudley would be next, and then he said thanks, but no thanks?  I doubt that will happen, as these Fed Heads are pretty egotistic, and probably believe that they “have the plan to save the world”.  And when they announce that plan to save the world, you might want to make plans to take a long vacation. The Emerging Markets took the Summers news as a sign that they too should rally, and rally they did!  The Indian rupee surged higher, and the Turkish lira made its strongest move in 2 years!  These wild swings is one of the reasons people get squeamish when it comes to investing in the Emerging Markets, which is why it makes sense to go into them with Principal protection, like that’ s afforded to the holders of our Evolving Markets MarketSafe CD, which by the way, we’ve brought back for another round. So, if you couldn’t pull the trigger on the first one, this is your last chance saloon. The best performing currency overnight is the Aussie dollar (A$) which is up over 1-cent this morning.  Knowing that the U.S. rates will be anchored for some time to come, is good news for the currencies like the A$, kiwi, and even the Brazilian real, for those interest rate differentials are really making a comeback as a key fundamental. And that puts a smile on my face. Reminds me a dentist’s card I saw many years ago. It had printed on the card: “Smile, it improves your face value”. Gold just can’t seem to catch a bid these days, and is down $10 this morning. Did you see the report last week from Goldman Sachs, that said they see the risk of Gold going below $1,000? OK. Quick Quiz. What have I told you in the past about Big Brokerage Houses’ Calls for assets? That they very well could be trading their book, or their future needs. In this case, the brokerage firm could be short the asset, and needing to buy it back at cheaper levels, So, they issue a letter to their clients and tell them what they see, in hopes of getting everyone to sell, thus cheapening the price of the asset, and then the firm can go in a buy cover their shorts, at cheaper prices.  Now, I’m not saying this is what this firm is doing right now. I’m just saying that we need to take these calls with a grain of salt, and see them for what they could possibly be. It’s funny, I saw this news story on the Bloomberg Friday morning, and the story below this one was one from HSBC (Hong Kong Shanghai Banking Corp.) “HSBC Lifts 2013 Gold Price Forecast on Higher Physical Demand”.  So, which one  of these stories are you going to hang your hat on? Me?  I think I’ll just keep a steady Eddie focus on owning Gold as a store of wealth, and not get caught up in forecasts! OK. The euro is much stronger to start the week at 1.3350 this morning. The German Federal Elections are next Sunday, and the only thing out there that could hurt the euro in these elections is IF the anti-euro party (AFD) wins 5% of the vote, and makes it into parliament. Right now the polls have then at 4%, which is where they will need to stay to keep the euro well bid next week. If the 5% level is achieved, I would think that the euro would take a hit. The Chinese renminbi / yuan is much stronger this morning as the Chinese Gov’t allowed a strong appreciation overnight. There was an article in the China Finance magazine that talked about how conditions in China have matured to further open Capital account. This is the stuff that I’ve been telling you was going to happen, folks. I love it when a plan comes together! But getting back to the renminbi movement. We saw these kinds of moves last spring too, when hot money flooded the Chinese markets, but then left when they got scared that China’s economy was going to shut down. When that didn’t happen, the hot money has begun to flow into China again. You see, interest rates “in China” are good, and we all know that interest rates sure aren’t good in the U.S., Japan, or Eurozone! And in Norway, the Norwegian August Trade Surplus narrowed to NK28.8 Billion from NK 35.3 in July. But this news wasn’t seen as bad for the krone. This drop in the Surplus isn’t new or surprising, as this data is very volatile. The chart on the Surplus looks like a chart for someone on a trampoline!  I think the thing to keep in mind the most here is that Norway has a Trade Surplus, and that’s something a lot of countries don’t have. And they didn’t need to weaken their currency to achieve this Surplus. Well, the data from last week was interesting, I’ll give it that! The Big Kahuna data print last Friday, the 13th I might add, was U.S. Retail Sales from August, which came in weaker than expected at +.2% (.5% was forecast). So, the Fed Heads have that on their minds as they begin to gather this week for a two-day meeting. The U. of Michigan Consumer Confidence report fell from 82.1 to 76.8. not a good thing.  Today, we get my two faves. Industrial Production, and Capacity Utilization.  Nothing that’s going to turn the dollar around today. For What It’s Worth. JMR Doug, sent me this link to the story on King World News. So thanks JMR  Doug! He said in his note to me, “Looks like the mainstream media will finally have to admit what you’ve been preaching for years Mr. Chuck.” So.. this was in King World News. Here’s the link to the whole story. And my snippet. In a stunning development, two JP Morgan whistleblowers have confessed that the bank manipulates the gold and silver markets.  This is truly a shocking admission by the courageous JP Morgan whistleblowers.  In a blockbuster King World News interview, London metals trader Andrew Maguire told KWN that the two JP Morgan employees came directly to him with hard evidence that the bank was actively manipulating the gold and silver markets.  This is a truly catastrophic event for JP Morgan, which up to now has denied manipulating these markets.  Below Maguire takes KWN readers around the world on a trip down the rabbit hole as he discusses how he led the two JP Morgan employees to turn over the evidence to a law firm which specializes in high profile whistleblowers, and also to the CFTC.  According to Maguire, the CFTC has virtually buried this information.  Is this a cover up, or the next LIBOR scandal about to be exposed? Chuck again. I like the fact that a major news outlet like King World News, ran this story. now, if the cable news stations would pick it up, we might get some traction. Other than that, this will die out again. But don’t worry, we’ll get plenty of coverage from the cable news stations on Miley Cyrus.  Speaking of her, I saw a very funny cartoon last week, it was Dr. Brown from the Back to the Future movies sitting in the DeLorean talking to Marty and the quote was: “Marty, we have to go back in time to help Billy Ray Cyrus from getting into “trouble”..  And make no mistake. I’m just reporting the story here. To recap. The dollar is getting sold like funnel cakes at a state fair this morning, as the markets realize overnight that they have already priced in the Fed’s Tapering, and the news that Lawrence Summers pulled his name from those being considered as the next Fed Chairman, thus leaving the nomination to Janet Yellen, who is a pro-growth Fed Head, and that means ZIRP remains in place longer, which is not good for the dollar. Currencies 9/16/13. American Style: A$ .9380, kiwi .8210, C$ .9710, euro 1.3355, sterling 1.5930, Swiss $1.0790, . European Style: rand 9.7570, krone 5.9090, SEK 6.5105, forint 223.75, zloty 3.1430, koruna 19.2855, RUB 32.26, yen 98.90, sing 1.2595, HKD 7.7540, INR 62.83, China 6.1554, pesos 12.91, BRL 2.2795, Dollar Index 81.14, Oil $106.64, 10-year 2.81%, Silver $21.73, Platinum $1,444.43, Palladium $704.20, and Gold. $1,311.03 That’s it for today. Lucky me! I came in this morning to find some chocolate chip cookies wrapped in foil that were left here for me from Kathy G, when she visited last week! What a sweetheart! My beloved Cardinals are hanging on, but need to get some separation from the Pirates and Reds. Markets could get pretty volatile this week with the Fed meeting, so be prepared to hunker down. Next week I’ll be in Houston for a visit to the oncologist and the other doctors at MD Anderson Cancer Clinic. It’s been a year, since my first visit there. I can’t express my gratitude enough to my beautiful bride who insisted that I apply to MD Anderson. Now, the goal is to NOT have to visit them any longer! Wouldn’t that be nice!  And with that thought, I’ll send you out to tackle this day and week. I hope you have a Marvelous Monday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837last_img read more

first_imgIn This Issue. * Dollar fights back yesterday * But currencies try to rally again this morning. * Foreign Investment flows into India soar! * Money can’t buy you love, but Gold can! And Now. Today’s A Pfennig For Your Thoughts. Eurozone Starts Negotiations With A Tough Stance. Good Day!…  And a Tub Thumpin’ Thursday to you! I’m greeted this morning with a song from the late 70’s while Chris was dancing at a mixer to disco music, by Ambrosia. That’s How Much I Feel..  Yes, there was “other music” being made besides disco in the late 70’s. Chris and I always have fun claiming the other one liked disco music. But I KNOW I didn’t! Now, Chris? I think the possibilities are great!   Remember me whining and complaining about the lack of volatility in the currencies the past 3 to 4 years? Well, I whine no more! Volatility has returned, and the leader of the pack is the euro, which is trading with the most volatility that it has seen since 2011!  And that volatility has been brought to the euro by the goings on in Greece. Funny, isn’t it, that the last time we visited problems in Greece it was 2011. Hmmm.  So, since the euro trading is all about the goings on with Greece, we might as well take a stab at those goings on, eh?  Well, the rug was pulled out from under the euro’s rally yesterday. After a good start to the day, the news from the Eurozone / Greece meetings became very dark, and pulled the rug with a quick, strong yank! So for those of you who want to get into all this drama coming from the Eurozone, I’ll get into it. For those of you who could do without it, because life is so full of drama on a daily basis, go on and skip ahead. At its non-monetary policy meeting yesterday,  the ECB’s Governing Council decided to lift the waiver that allowed bonds issued or guaranteed by the Greek government to be eligible at the Eurosystem’s refinancing operations (you know the LTRO’s we’ve discussed and other forms of refinancing that is used)  despite their sub investment grade rating. As a consequence, such bonds are not eligible anymore as collateral to the ECB’s regular liquidity operations, starting from the maturity of the current main refinancing operation on February 11. So, the Greeks have to go back to the drawing board, and figure out if they want loans or not, because if they do want loans, and they’ll run out of money by the end of this month, they’ll have to accept and maintain austerity programs. The news on the Bloomberg this morning, say the Greeks are going to keep their “anti-austerity” talk. YIKES! Obviously, these are the opening salvos being thrown out to see where the negotiations start, but to me, this is going to get ugly, folks.  There are other things going on, that really get pretty hairy with their description of what’s going on, but in essence, this main point that I’ve discussed here, is what it all boils down to. So don’t let all that other stuff, about eligible or non-eligible get in the way of what’s important here. The euro got whacked on this news, but in reality, I would ask why?  Here is a governing body that represents 17 countries and they decided that one country has not done anything close to what they were asked to do, and now wants more, and the governing body, decided to say “no mas”. We won’t accept your bonds any longer, unless you agree to adopt our terms.  The great 70’s rock group, Foghat, had a song called. Take it or leave it.  Take it or leave it, tell me what you’re going to do.. Take it or leave it, now the choice is up to you.  I can’t wait until tomorrow, tomorrow may be too late. take all the sorrow, I can’t wait! I bet you’re wondering, where the heck does he come up with these bands? Foghat? Ahhh, grasshopper, Foghat songs were the soundtrack of many a party in the 70’s. Slow Ride, Fool for the city, Drivin’ Wheel, and so on. So there’s your Rock history for today.. A changeup was badly needed folks. Don’t you agree?   Today. believe it or don’t, the euro is rallying, along with the Aussie dollar (A$), N.Z. dollar / kiwi, Norwegian krone, and well, heck most of the currencies except the Chinese renminbi, and Gold. With the renminbi weaker this morning, what does that indicate the performance of Indian rupees will be? That’s right! If you were paying attention in class yesterday, I told you that these two currencies (renminbi & rupee) should in my opinion trade together, but in recent trading they move in opposite directions. So that means the rupee is rallying today. I have to say that one of the first things I check each morning, are the prices of Oil, Gold, the 10-year Treasury and the euro.  And this morning, I noted that the price of Oil had dropped again, losing the $50 handle, making the two-day run in Oil earlier this week a thing of the past, and I thought to myself, that the petrol currencies must be under pressure.  But then when I switched over the full currency screen I was stunned and amazed to see not only the Norwegian krone rallying, but too the Russian ruble, Canadian dollar / loonie, Brazilian real, and so on.  So, what gives with that? The price of Oil drops, but the petrol currencies rally?  Well, I’ll tell you sometimes you get ½ the answers and have to live with it. and this is one of those times. So, let’s just move along here, there are not the droids we’re looking for.   Getting back to the Indian rupee for a moment. I saw some stuff on the Bloomberg this morning regarding investment flows to India, which would go a long way toward the rupee rally. And investment flows to India and Indian Gov’t bonds in January were the biggest since last July. Recall that last July we had the euphoria in India about a new PM.   For those of you keeping score at home, foreign investors bought $464 Million more rupee-denominated bonds at the auction yesterday, and in January the total was $3.3 Billion!  The yield on the 10-year Gov’t bond is around 7.7% (for institutional buyers) That’s nearly 600 Basis Points greater than the same tenor U.S. Treasury.  Sure, India is no match to the U.S. as far as size, strength, and safety, but. 600 Basis Points would certainly make me think twice about opting for an investment in India. Now, I’m not saying you should go right out and buy Indian bonds. I’m simply pointing out why the foreign investment flows into India are strong right now, and when that happens, the rupee should be the beneficiary. There’s a report out this morning from Citigroup regarding Denmark, and I have to say I love it!  Citigroup says that it’s unlikely that Denmark will scrap the peg to the euro.  So, wait a minute Chuck, didn’t you say something opposite to that in the Daily Reckoning? (www.dailyreckoning.com)  Well, thank you for being on top of this!  Yes, I did say something opposite of that in the Daily Reckoning, but. You know me. Citigroup has probably dozens of researchers that contributed to this report, and here it’s just little old me.. So, when someone says something opposite of what I’ve said, I take it as they read what I said, and decided to prove me wrong. Yes, it’s a very myopic viewpoint, but what the heck! Now we have to wait-n-see who turns out to be right. Well, Gold can’t seem to find a bid again this morning. UGH!  The Beatles are singing “Money can’t buy me love” on the iPod, right now, and that may be true, but I bet Gold can buy you love! HA!  And then that song was followed by Pink Floyd’s song: Money.  strange how that all came about, eh?  Money, so they say, is the root of all evil today.  Notice they didn’t sing: Gold is the root of all evil today!  Silly stuff, I know, but so is watching the price manipulators take the price of Gold lower. Ed Steer’s daily letter just showed up in my email box, and clicking on it, I see the headline is: “Buy Gold and Short Federal Reserve, Says Marc Faber Once Again!”  Have I ever told you the story about me sitting on a panel at the New Orleans Investment Conference, the granddaddy of all investment conferences, and this is the first time I ever met him.  I was totally impressed with his ponytail, and then at one point of the discussion, he even told the crowd that they should listen to me.  So, now when I see something he has written or a video interview, I click on it immediately, for this guy must know what he’s talking about, he told people to listen to me! The U.S. Data Cupboard is gearing up for tomorrow’s Jobs Jamboree. Just the usual Tub Thumpin’ Thursday stuff for us today, like the Weekly Initial Jobless Claims, we’ll see if last week’s drop was a “true drop” or one that was a result of the week being short a day. Yesterday’s Data Cupboard, printed a weaker than expected ADP Jobs report. Hmmm. 230,000 was expected and only 213,000 printed. Hmmm. On a sidebar. I had the TV on yesterday while I was doing some reading, and the funny Geico commercial with Pinocchio as a failing motivational speaker was on, and it made me laugh, and immediately my mind began thinking about this. Pinocchio is asked to be a motivational speaker to countries.. And he begins by pointing to a country, like Japan, and saying “and you have a strong economy” and his nose grows, then points to the U.K. and repeats “you have a strong economy” and his nose grows, and then points to the U.S. and says, “I really see potential because of your strong economy” and his nose grows a foot!  Now, tell me how many people would have thought of that? For What It’s Worth. I have something different for you this morning. Just something else to think about. Thanks to dear reader Bob for sending along to me, and you can read the whole article here: http://www.theguardian.com/world/2015/feb/04/japanese-bank-introduces-robot-workers-to-deal-with-customers-in-branches “Japan’s biggest bank is preparing to unveil robot employees with a human touch. Nao, a 58-centimetre (1ft 11)-tall humanoid developed by the French company Aldebaran Robotics – a subsidiary of the Japanese telecoms and internet giant SoftBank – will begin work on a trial basis at one or two branches of Mitsubishi UFJ Financial Group from April. Depending on his performance, more robots could appear at other branches in the coming months. Equipped with a camera on his forehead, Nao is programmed to speak 19 languages. He analyses customers’ emotions from their facial expressions and tone of voice, enabling him to greet customers and ask which services they need. The 5.4-kg robot, who was “born” in Paris in 2006, lived up to his billing with a faultless interaction with an English-speaking customer, during a presentation in Tokyo this week.” Chuck again. WOW! Robots in bank branches! I doubt that it catches on here for many years, but in my opinion, if I was concerned about online banking before, I wouldn’t be now!  Where’s a good online bank I hear you asking?  Ahem. you’re reading this letter that’s sponsored by such a bank! To recap. Well, the playing nicely in the sandbox ended up with some sand being kicked in the faces and kids crying and pointing fingers at who started it. Germany opened the negotiations with Greece by dropping Greek bonds from the lending facility (LTRO) and the Greeks answered by saying they were keeping their anti-austerity stance. Needless to say the euro got whacked and led the rest of the currencies lower yesterday. But today is different, and the currencies for the most part are rallying, led by the euro.  The renminbi and Gold are down today, while the rest of the currencies dance. Currencies today 2/5/15. American Style: A$ .7805, kiwi .7390, C$ .7980, euro 1.1430, sterling 1.5245, Swiss $1.0780, . European Style: rand 11.4205, krone 7.5425, SEK 8.2600, forint 269.45, zloty 3.6520, koruna 24.2915, RUB 67.26, yen 117.35, sing 1.3460, HKD 7.7525, INR 61.73, China 6.1366, pesos 14.79, BRL 2.7295, Dollar Index 93.94, Oil $48.98, 10-year 1.77%, Silver $16.94, Platinum $1,246.48, Palladium $791.50, and Gold.. $1,260.22 That’s it for today. It’s a downpour outside this morning, so no going out to see the ocean while I wait for the review for me this morning. This is the first day that it’s rained in the early morning since I’ve been here. And it’s pouring outside!  So, how is your tax accounting going this year? Sorry to bring up such a nasty subject, but it something that has to be done once a year for most, so we might as well face up to it! Mine is not coming along too well, but that’s OK. it’s always a last minute thing with me! I have no idea what I started talking about that. UGH!  I guess I had a pain somewhere and that reminded me. HA!  Well, it was announced yesterday that two more baseball teams will play close to me down here. The Astros and Nationals are moving near here, which is a good thing. I had to laugh right now, I just saw a LinkedIn message that was featuring the story I had for yesterday from the CEO of Gallup, talking about how the Unemployment Rate is a fabrication. So, I run it one day, and LinkedIn runs it the next day. Hmmm. that has to be a co-inkee-dink!   Emerson Lake and Palmer (ELP) is playing their song: Lucky Man, on the iPod right now, this was the first song I remember hearing a synthesizer being played.  I used to play this song on my guitar, so those song are always special for me to listen to..  And with that. it’s time to go! I hope you have a Tub Thumpin’ Thursday! Chuck Butler Managing Director EverBank Global Marketslast_img read more

first_imgSprint 2019 Entrepreneur 360 List Sprint Corp has axed at least 2,500 jobs across six customer care centers and its Kansas headquarters as part of its plan to cut $2.5 billion in costs, a company spokeswoman said on Monday.The job cuts, mostly in customer service, also include 574 positions at Sprint’s headquarters at Overland Park, Kansas, Sprint spokeswoman Michelle Boyd said.Sprint, the fourth-largest U.S wireless carrier, has shut down call centers in Virginia, New Mexico, Tennessee and Texas and cut back jobs at its Colorado and Overland Park call centers, Boyd added.The telecom company, which has kick started a turnaround plan, said last year it is looking at areas such as labor costs, network expenses, information technology and administrative expenses to reduce costs to the tune of $2.5 billion.Investors have been concerned that the company, which is majority-owned by Japan’s SoftBank Group Corp, is burning cash at an alarming rate to acquire users and upgrade its network.Sprint notified employees last week about the job cuts and severance benefits through email, Boyd said.As of Jan. 1, Sprint’s workforce totaled 33,000 employees. The company has said that it planned to give layoff notices to employees before Jan. 30 as its severance package would be reduced after that date.Sprint subscribers are increasingly using the Sprint Zone app and going online for their customer care needs and the jobs cuts were made in response to that trend, Boyd said.Sprint said in November 2014 that it would fire 2,000 employees. In October 2014, the company launched a previous round of layoffs and shed about 1,700 jobs.Boyd declined to comment on whether the company plans to slash more jobs in coming weeks.The Kansas City Star first reported news of the job cuts on Monday.Shares in Sprint, which have fallen about 21 percent this year, were down about 10 percent at $2.59 in afternoon trading.(Reporting by Malathi Nayak in New York and Abhirup Roy in Bengaluru; Editing by Savio D’Souza, Alistair Bell and Meredith Mazzilli) January 26, 2016 Add to Queue –shares Apply Now » The only list that measures privately-held company performance across multiple dimensions—not just revenue. This story originally appeared on Reuters Looking to Cut Costs, Sprint Slashes 2,500 Jobs 2 min read Reuters Next Article last_img read more

first_imgAcquisitions Companies Place Bids for Virgin America Takeover March 29, 2016 Reuters Learn how to successfully navigate family business dynamics and build businesses that excel. This story originally appeared on Reuters Free Webinar | July 31: Secrets to Running a Successful Family Business Next Article center_img Add to Queue Image credit: Chris Parypa Photography | Shutterstock.com –shares 3 min read Virgin America Inc. has received takeover bids from JetBlue Airways Corp. and Alaska Air Group Inc. as the U.S. budget airline backed by British billionaire Richard Branson explores a sale, a person familiar with the matter said Monday.Asian airlines have also expressed interest in buying Virgin America, although they would have to partner with a U.S. bidder under foreign ownership rules governing U.S. airlines.The source asked not to be identified because the sale process is confidential.JetBlue, Alaska Air and Burlingame, California-based Virgin America declined to comment.In the past year, Virgin America has faced steep declines in unit revenue, or sales relative to flight capacity, as bigger rivals have added seats to gain share and take advantage of lower fuel costs that make it cheaper to operate flights. A tie-up with another airline could give Virgin America more flights that would help it compete.Analysts said a deal could make sense particularly for New York-based JetBlue, which has room to grow on the U.S. West Coast. Both carriers fly the same type of aircraft, which means JetBlue would not need to train pilots or maintenance crew on how to operate Virgin America’s planes.Buyers would benefit from Virgin America’s corporate accounts with major technology companies such as Facebook Inc. and Alphabet Inc., Sterne Agee CRT analyst Adam Hackel said.A buyer would have to assume Virgin America’s aircraft leases, likely at above market rates, however, and might have to hike its pilots’ lower-than-average wages, JPMorgan analyst Jamie Baker said in a research note last week after news of a potential sale broke.Mega-mergers among larger U.S. airlines in the past decade have reduced the industry to four top players: American, Delta, United and Southwest, which control more than 80 percent of the market.MJ Moltenbrey, a partner at law firm Paul Hastings and a former director at the U.S. Department of Justice’s antitrust division, said a deal with JetBlue or Alaska Air would likely pass an antitrust review.”A combination of two of the smaller airlines would result in significant efficiencies by giving them a bigger footprint, and would make the merged airline a more effective competitor to the big three,” Moltenbrey said.News of the offers, first reported by Bloomberg, pushed Virgin America’s stock up 10 percent, while JetBlue rose 3 percent and Alaska Air gained 1 percent.Virgin America went public in November 2014 and has a market capitalization of $1.3 billion.(Reporting by Greg Roumeliotis and Jeffrey Dastin in New York; Editing by Steve Orlofsky and Grant McCool) Register Now »last_img read more

first_imgSHARE SHARE EMAIL The BJP will go it alone in Telangana in the upcoming general elections and contest all the 17 Lok Sabha seats in the State, senior party leader Bandaru Dattatreya said on Sunday. Asserting that his party is making efforts to cross 400 Lok Sabha seats this time, the former Union Minister and an MP from Secunderabad claimed that Prime Minister Narendra Modi had given a corruption-free government and his image and popularity continues to rise. “The BJP will independently contest all the 17 Lok Sabha seats. The Assembly elections were a totally different scenario. This is parliamentary election and we are confident,” Dattatreya, the lone BJP MP from Telangana, told reporters here. In the December Assembly polls in Telangana, BJP managed to win only one out of 120 seats. regional elections COMMENT SHARE Telangana Published on COMMENTS February 03, 2019last_img read more

first_imgNEW DELHI: Five cases of alleged discrimination/victimisation of minorities and 99 cases of similar treatment to scheduled castes were registered across the country by National Human Rights Commission (NHRC) between April 1 and June 15 this year. In 2018, NHRC filed 79 complaints regarding harassment of minorities, with UP alone reporting 19 cases, and 672 cases of victimisation of scheduled castes, of which 46% were in UP. Minister of state for home G Kishan Reddy, replying to a query from Lok Sabha MP K Navaskani seeking details of complaints received by NHRC regarding harassment of minorities and dalits, said the number of complaints in respect of minorities had fallen from 117 in 2016-17 to 67 in 2017-18, before rising again to 79 in 2018-19. Similarly, the number of dalits alleging victimisation before NHRC fell from 505 in 2016-17 to 464 in 2017-18 before rising to 672 in 2018-19. State-wise, the highest cases of alleged harassment of minorities as well as Dalits were registered by NHRC in UP, which also happens to be the most populous state in the country. UP reported 19 cases of minority harassment and 311 of SC victimisation in 2018-19, up from 8 and 215 respectively recorded in 2017-18. Other states from where NHRC got complaints of minorities’ discrimination in 2018-19 were Gujarat (8), Tamil Nadu (7), Maharashtra and Haryana (5 each). As regards alleged victimisation of dalits, the maximum cases registered by NHRC between April 1 and June 15 this year were in UP (52). In 2018-19 too, UP topped the table with 311 cases relating toCases related to harassment of dalits, minorities rose in 2018: GovtSC harassment, though Rajasthan too reported 41 cases, Haryana 33 cases and Gujarat, 32. Download The Times of India News App for Latest India News.XStart your day smart with stories curated specially for youlast_img read more

first_imgHispanics are experiencing the largest homeownership gains of any ethnic group in the U.S., a turnaround for the population hardest hit by the housing bust that could help buoy the market for years. The homeownership rate for Hispanics has increased more during the past several years than any race or ethnic group, including whites. The rate, which hit a 50-year low in 2015, has risen 3.3 percentage points since then, according to U.S. Census Bureau data. …last_img