first_imgTiger Woods returning to Riviera LOS ANGELES (AP): Tiger Woods is returning to Riviera Country Club for the first time since 2006 to play the Genesis Open in February. He announced yesterday that he will play in the event from Feb. 13-19 that benefits his foundation. Riviera was the site of Woods’ PGA Tour debut in 1992 at age 16. The Tiger Woods Foundation, the PGA Tour and Genesis announced a partnership under which Woods’ TGR Live will manage the tournament at Riviera. Woods returned to competitive golf earlier this month for the first time since August 2015 at the Hero World Challenge in the Bahamas. Man City, Chelsea fined for melee LONDON (AP): Manchester City and Chelsea have been fined a combined US $170,000 by the English Football Association after their players were involved in a melee in the closing stages of a Premier League match. The FA said yesterday that both clubs accepted they failed to “ensure their players conducted themselves in an orderly fashion and/or refrained from provocative behaviour.” City were fined US $44,000 and Chelsea US $126,000. The melee happened deep in injury time of Chelsea’s 3-1 win at Etihad Stadium on December 3. It was sparked by a studs-first lunge by City striker Sergio Aguero on David Luiz, which earned Aguero a red card. Both sets of players clashed and City midfielder Fernandinho was also sent off for grabbing Chelsea’s Cesc Fabregas by the neck and pushing him over an advertising hoarding. It was the fifth time in 19 months that Chelsea were charged by the FA for failing to control their players.last_img read more

first_imgWASHINGTON – Federal Reserve Chairman Ben Bernanke offered a mostly upbeat assessment of the economy Wednesday, citing improvements in inflation and housing in comments suggesting the Fed will leave interest rates alone for a while. Wall Street liked the message and propelled stocks sharply higher. The Dow Jones industrials gained 87.01 points to close at a new high of 12,741.86. Bernanke said that at present, interest rates are at a level that is “likely to foster sustainable economic growth and a gradual ebbing of core inflation.” “Overall, the U.S. economy seems likely to expand at a moderate pace this year and next, with growth strengthening somewhat as the drag from housing diminishes,” he said as he delivered the Fed’s economic report for the first time to a Democrat-controlled Congress. One is that inflation might flare, which is why the Fed is keeping open the option of a rate increase. It will “be some time before we can be confident that underlying inflation is moderating as anticipated,” Bernanke said. If inflation does not wane as the Fed expects, policymakers are “prepared to take action,” he said. On the other hand, there is the risk that a deeper than expected residential real-estate bust could yet unfold, which could hurt overall economic growth, Bernanke said. The committee chairman, Sen. Christopher Dodd, D-Conn., a 2008 presidential hopeful, and some colleagues said they thought Bernanke was doing a good job in managing the world’s largest economy. Even so, Democrats were vocal about their concerns about the middle class. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! The Fed has held a key interest rate steady at 5.25 percent since August, giving borrowers a reprieve. Before that, the central bank steadily had raised rates for two years, the longest ever stretch of increases, to fend off inflation. Many economists said Bernanke’s testimony to the Senate Banking, Housing and Urban Affairs Committee buttressed their belief that the Fed will continue to hold rates steady for much of this year. Still, Bernanke was not prepared to declare victory over inflation just yet. Thus, he did not close the door on the possibility of further rate increases down the road. The Fed chief was careful to hedge his bets and pointed out risks that could upset the generally good economic outlook. last_img read more