Virus puts globalized economy at risk, says OECD chief economist

first_imgTopics : There are some signs that companies are already giving greater consideration to the issue, though it’s too soon to say there will be knee-jerk reactions to the virus. Last week, France’s Sanofi said its plan to create a standalone company to make key ingredients for other drugmakers will help ensure supplies of essential components and reduce reliance on Asia.Boone was briefing journalists on the OECD’s economic outlook, in which the Paris-based organization slashed its 2020 growth forecast because of the shockwaves the epidemic is sending across the globe. The deeper links between economies that have come with globalization mean that the virus impact is unprecedented.“The global economy has become substantially more interconnected, and China plays a far greater role in global output,” the OECD said in the report. “Even if the peak of the outbreak proves short-lived, with a gradual recovery in output and demand over the next few months, it will still exert a substantial drag on global growth in 2020.”The OECD is not the first to raise the point. The longer-term lessons also came up at a meeting of Group of 20 finance chiefs in February, with some officials warning of the risks of depending largely on complex supply chains in strategic and sensitive sectors.“We clearly see that we are too dependent on supply from foreign countries and China,” French Finance Minister Bruno Le Maire said Monday on France 2 television. “We will review all our industrial supply chains to see how we can re-localize business in most strategic areas and be sovereign and independent.” The upheaval from the coronavirus outbreak may be the final jolt that the world’s biggest companies need to reevaluate how they operate in a globalized economy, the OECD’s chief economist Laurence Boone said.The sprawling, continent-crossing supply chains of corporations have already come under pressure from trade tensions and climate concerns, and may face further stress as countries change global taxation rules. If and when the dust settles from the coronavirus, Boone said firms will likely pause to reconsider what they do.“What characterizes what we have seen over the past decade is effectively real-time management of stocks and very integrated supply chains,” Boone said Monday. “In the same way that central banks can review their monetary policy framework, I think businesses after this outbreak will likely look at how they are managing their stock, how they are organizing their production throughout the world.”last_img read more

Airbnb raises $1 billion in debt from Oaktree, BlackRock

first_imgThe five-year loan priced at a spread of 7.5 percentage points over the benchmark London interbank offered rate and at a discount of 97.5 cents on the dollar, the people said. Terms tightened from a rate of 8 percentage points over Libor and a discount of 96 cents on the dollar, the person said. Investor demand for the deal exceeded $2.5 billion.The new debt is senior to the San Francisco-based company’s borrowings from Silver Lake and Sixth Street that it unveiled earlier this month, which is composed of second-lien debt and equity securities. The equity valued the company at $18 billion, a fraction of its $31 billion peak. The new deal doesn’t include warrants or other equity components, a person familiar with the deal said.The additional funds give Airbnb extra financial cushion as prospects dim for an initial public offering this year. It could help the company weather the economic crisis brought on by the coronavirus pandemic without going public, and could also allow the company to make acquisitions, a strategy it has been weighing, people with knowledge of the matter told Bloomberg last month.Topics : Airbnb raised $1 billion in debt, according to people with knowledge of the matter, as the travel company braces for an extended fallout from the coronavirus.The new, first-lien debt comes from a group of more than 20 investors, including Silver Lake, the largest participant, as well as BlackRock, Eaton Vance, Fidelity Investments and T. Rowe Price Group, according to people with knowledge of the matter. Other participants include Apollo Global Management, Benefit Street Partners, Blackstone Group, Glade Brook Capital Partners, Oaktree Capital and Owl Rock Capital, the people said.The deal builds on last week’s investment of the same size from Silver Lake and Sixth Street Partners, which is also participating in the new debt, said the people, who asked not to be identified because the deal isn’t public. Representatives for the companies involved either declined to comment or didn’t immediately respond to requests.last_img read more

Nautilus Minerals’ Seafloor Production Vessel Hits the Water

first_imgNautilus Minerals’ Production Support Vessel (PSV) was launched today at the Mawei shipyard in China, the company said in its latest release. The vessel will be used by Nautilus and its partner, Eda Kopa (Solwara) Limited at the Solwara 1 project site, in the Bismarck Sea off Papua New Guinea.Mike Johnston, Nautilus’ CEO, said: “Today’s launch is a significant milestone for the company and the deep water seafloor mining industry. Mawei yard has designed and built the world’s first deep sea mining production support vessel, in cooperation with Nautilus and Marine Assets Corporation.”“This has involved much discussion, thought and innovation, to produce this magnificent vessel. The yard’s efforts have been truly amazing, and I would like to thank the management and team at Mawei Shipbuilding for the terrific work that has been done to get the vessel to this stage of completion.“We believe that mining the seafloor for much needed minerals will be a more cost effective and environmentally friendly source of obtaining high grade copper, gold and silver.”The Production Support Vessel (PSV) provides a stable platform for operations using dynamic positioning technologies to ensure it stays on location at Solwara 1 irrespective of wind and wave conditions, said the company.The PSV, as launched today, is approximately 75% complete with the final vessel delivery currently scheduled for March 31, 2019.Image source: Nautiluslast_img read more

TGS, PGS in Barents Sea 3D seismic survey (Norway)

first_imgTwo Norwegian seismic companies TGS and PGS have announced a new multi-client project in the Barents Sea, offshore Norway, labeled the Nansen 3D Geostreamer.The survey will cover around 6100 square kilometers in an active APA area of the Hammerfest Basin. The acquisition is expected to start in late May and is due to be completed in September 2018.According to a statement on Tuesday, the project is designed to improve the imaging of the known fields and discoveries and allow identification and development of new targets in both mature and new plays. The survey area contains shallow targets on the basin flanks and platforms, with deeper exploration potential elsewhere in the basin.Kristian Johansen, CEO, TGS:”Nansen 3D will expand TGS’ data coverage in the Barents Sea where we have a strong track record of success. This project will provide modern, high quality seismic data to an area that is highly relevant for exploration in the current and upcoming APA rounds,” saidPGS’ Ramform Atlas will tow an ultra-high-density 3D configuration with a 16 x 56.25 m x 7,000 m setup. Three of the streamers are towed with 10 km offsets for optimized performance of full waveform inversion (FWI).Data processing will be performed by TGS using its Clari-Fi(TM) broadband technology. Fast-track data will be available in Q1 2019 with final data in Q4, TGS said.Towing configuration (image source: PGS)last_img read more

Top ten ways to relax

first_img Share Share HealthLifestyleLocalNews Top ten ways to relax by: – August 16, 2012 Sharing is caring! 17 Views   no discussionscenter_img Share Tweet Tips to help you de-stress and unwindFinding time to relax can be difficult. With work, family and hectic social lives, it can seem as though proper relaxation takes a back seat. Fortunately, there are many ways to make relaxation a part of your everyday life.Relaxation tip 1: Try tryptophanMany of us reach for food when we are stressed out, however this may be no bad thing as certain foods can actually help us to relax. Foods containing tryptophan, an essential amino acid, are great to stock up on when you need to calm down or unwind. The nutrient helps to raise serotonin levels which can elevate your mood, and melatonin, which can help induce sleep. Good tryptophan-rich foods include nuts, cheese, turkey, chicken and soybeans.Relaxation tip 2: Get activeIf you are feeling stressed out, one of the best things you can do is go for a run or hit the gym. Although you may feel more inclined to veg out in front of the TV to relax, exercise is great for releasing mood-boosting chemicals such as endorphins and anandamine, which can help to lower anxiety and increase mental wellbeing. As well as having a great effect on your mood and stress levels, exercise is also good for taking your mind off problems and helping to induce sleep.Relaxation tip 3: Take deep breathsIf you are short on time, one of the quickest ways to relax is to take a few deep breaths. Anxiety can cause people to breathe more rapidly than normal and taking deep, slow breaths can be an effective aid to relaxation. If you are frequently feeling anxious or stressed, it can be helpful to implement deep breathing in to your regular routine by doing breathing exercises regularly or joining a yoga, Pilates or meditation class; all of which use deep breathing to promote relaxation and wellbeing.Relaxation tip 4: Listen to musicMany of us are aware that listening to our favourite music puts us in a good mood, and studies have now found that music is also good for reducing stress. Various studies have indicated a strong link between music and lowered stress levels in everyday life, while research has also indicated that music can lower extreme levels of stress in people undergoing surgery, critically ill patients and pregnant women. Rather than seeking out “relaxing” genres of music, it is best to go with your individual taste and choose whatever type of music boosts your mood.Relaxation tip 5: Stock up on chocolateGood news for many is that chocolate – one of the world’s most popular comfort foods – is also a great calming food. Chocolate is high in magnesium – which can help relaxation – and also contains anandamine, a neurotransmitter which can help you to experience a feeling of peace. With high levels of phenylethylamine, chocolate also raises endorphin levels, so all the more reason to unwind with your favourite chocolate treat.Relaxation tip 6: Have a hugHaving a hug is a renowned mood booster, and research findings published in Psychomatic Medicine have reinforced what we knew all along — that having a good old cuddle is great for reducing stress. Having physical contact has been found to raise levels of oxytocin — the “love hormone” — and lower levels of stress hormone cortisol, putting us in a more relaxed frame of mind. Human affection is not the only type that counts, however, as owning a pet has also been linked to lowered stress levels, meaning that playing with your pet could be a great way to wind down after work.Relaxation tip 7: Pamper yourselfOne of the best — and most luxurious — ways to unwind is to treat yourself to a spot of pampering. If your budget extends to it, you could have somebody else pamper you by heading to a health spa or beauty salon for a massage, facial or beauty treatment of your choice. Alternatively, you could indulge in a bit of DIY pampering by running yourself a bath, lighting some candles and lying back with a relaxing facemask and some calming music.Relaxation tip 8: Have a laughLaughter is well-known for its therapeutic effects, and many places now offer laughter therapy or laughter yoga classes to those seeking to boost their health and mood. Studies have in fact found that even the anticipation of laughter can help us to relax by lifting our spirits and reducing stress levels in the body. If you are serious about your relaxation, you could consider attending a laughter class, but chilling out with a funny DVD, book or friend is an equally great option to help you relax.Relaxation tip 9: Try aromatherapyTo really make the most of your senses, turn your home into a relaxing sanctuary with a scented candle or some relaxing essential oils. Some good essential oils for relaxation include camomile, lavender, neroli, bergamot and ylang ylang. Use these oils to aid relaxation by adding a couple of drops to a bath, burning in an oil burner, or adding (sparingly) to water to use as a room spray or skin spritzer.Relaxation tip 10: Get in the momentThere are various things you can do to help you relax. However, if you are not fully present in the moment, it is unlikely you will fully benefit from any relaxation technique. If you find it difficult to switch off from your stresses and cast off past regrets or future worries, try making a list of anything that needs to be done or thought about at a later date, set a time and date to deal with each item, then switch off your mind, cast your cares aside, and focus for now on simply enjoying the moment.Real Buzzlast_img read more

Bulldogs EIAC Swimming Results

first_imgBatesville traveled to South Dearborn to compete in the EIAC Championship meet on Saturday. Overall, Batesville placed 4th in the Women’s competition while the Men finished in 5th place.Individuals placing in the top 6 for Batesville included:– Sonja Gaulin (5th 200 Free, 3rd 100 Free)– Allison Storms (6th 200 IM, 2nd 100 Breast — New School Record 1:14.14, previously held by Storms @ 1:15.99)– Gwen Martin (6th 50 Free)– Maria Lopez (4th 100 Fly)– Halle Renck (6th 100 Fly)– Ethan Brewer (4th 200 Free, 3rd 100 Fly)– Sean Callahan (3rd 200 IM, 3rd 500 Free)– Ben Moster (2nd 100 Breast)– Kyler Daulton (6th 100 Breast)“I’m blown away by the way our teams performed this weekend. This team went above and beyond my expectations for this meet, swimming up when needed and improving on their times,” said Coach Greg McMullen. “We have a few things to come back and refine, but overall this season is going extremely well and I’m happy to see a school record come down mid-season.”The Bulldogs travel back to South Dearborn on Tuesday, Jan 8 to take on the host and Lawrenceburg in tri-meet action.last_img read more

Strootman keen on Premier League move

first_img “He has the physique, the character and the fitness for it. I am certainly not afraid he could handle that level.” Manchester United’s chief scout Jim Lawlor saw Strootman in action against Russia during the Under-21 Championships, although, as yet, new Red Devils chief David Moyes is yet to make a move. “Kevin has ambition but it is not in my hands,” said Dekker. “From PSV it would have to be a step up to a good club. “It is not simple though because the price will be expensive and not many teams can afford him. “The clubs know what he can do now. It is up to them whether they want to reach an agreement with PSV and take him.” Kevin Strootman’s heart remains set on a move to the Premier League, despite interest from across Europe. Press Associationcenter_img The PSV Eindhoven midfielder has already won 18 caps for Holland, skippering his country in their World Cup qualifying win over Romania in March. Strootman has just returned from Israel when he led his country to the semi-finals of the European Under-21 Championship. Serie A heavyweights Napoli are the latest to declare an interest and Strootman’s agent Chiel Dekker has also confirmed clubs from France and Russia have expressed a liking for the 23-year-old. However, Strootman wants to play in the Premier League. “He is focussed on England because that would suit his style,” said Dekker. last_img read more

Chelsea boss Jose Mourinho’s ban was for verbal assault on referee Jonathan Moss

first_img “When myself and my colleagues left the field of play at half time, as we entered the tunnel area to get to our dressing room, Mr Mourinho the Chelsea manager was waiting for us clearly agitated and began aggressively asking about first half decisions,” Moss says in the written reasons. “Rather than publically (sic) speak to him I asked him to step into the entrance of my dressing room escorted by Simon Sutton, the West Ham United security manager. “Mr Mourinho asked me about a tackle, an offside and a goal line clearance. I gave him brief answers to his questions. After this I asked him to leave the dressing room area. “He refused. I asked him again. After he refused again I asked Mr Sutton to escort him from the room. At this point Mr Mourinho became very aggressive and animated. “He shouted that you ******* referees are weak… (Arsenal manager Arsene) Wenger is right about you… you are ******* weak. “I advised Mr Mourinho not to take his position in the technical area for the second half due to his actions.” Reports from the assistant referees and fourth official corroborated Moss’ comments, the written reasons said. Mourinho was informed of the charge on October 26 and admitted it three days later before the sanction was announced on Monday. The Football Association on Friday released the written reasons for the case which Mourinho opted not to contest, instead missing Saturday’s Premier League encounter at Stoke’s Britannia Stadium. Referee Moss’ testimony from half-time of the October 24 clash between West Ham and Chelsea was key, with Mourinho furious after Nemanja Matic had been sent-off for two bookable offences and the visitors denied two goals, one due to goal-line technology and the other due to offside. Jose Mourinho’s stadium ban for Saturday’s match at Stoke was imposed after the Chelsea boss unleashed an expletive-laden half-time attack on referee Jonathan Moss and then refused to leave the officials’ dressing room at West Ham’s Upton Park. The Blues boss chose not to appeal, announcing his decision on Friday. “It is clear from both the letter from Mr Mourinho and his submissions that he regrets the incident and to his credit he made an early admission,” the written reasons said. “His behaviour was in the opinion of the commission unacceptable and he showed a total lack of respect for the match officials and the sanctuary of their changing room. “That is a most serious matter and has to be dealt with accordingly.” The three-man commission argued a financial penalty “has little or no impact upon his behaviour” after assessing his previous disciplinary matters. He was, though, fined £40,000. The commission also determined a touchline ban would be insufficient, given he would still have access to the tunnel area. A stadium ban was therefore considered the appropriate penalty. Mourinho on Friday accepted the punishment, having failed in an appeal against a suspended one-match stadium ban and £50,000 fine for a separate offence for comments made about officials following the loss to Southampton. The Chelsea boss said: “I decided to give up. I know the result of that appeal already. “It’s stupid to fight a fight that you know you have already lost.” Press Associationlast_img read more

Football News Manchester United crash out of FA Cup with loss to Wolves

first_img Manchester: Wolves inflicted a second straight defeat on Manchester United on Saturday, outplaying Ole Gunnar Solskjaer’s side to secure a 2-1 win and reach the FA Cup semi-finals. United lacked spark throughout and were overcome by an eager Wolves side with two goals in the space of six minutes in the second half from Raul Jimenez and Diogo Jota. Marcus Rashford’s injury-time effort was a mere consolation. Solskjaer had presided over a run of just two defeats in 18 games since replacing Jose Mourinho in December, progressing to the quarter-finals of the Champions League and the last eight of the FA Cup. But now they have suffered two losses in a row after their Champions League exertions at Paris Saint-Germain.     United were favourites but the Midlanders’ form against the top six that has carried them to seventh position in the Premier League gave home fans hope. The early signs were that United, not Wolves, were going to live up to the hype of the warm-up, dominating early possession. The visitors created the first opening when Paul Pogba gained a yard of space in the box and curled wide.     Goalkeeper John Ruddy was happy to let the ball drift away but was forced to make a falling save to his left soon afterwards when Rashford let fly from 30 yards.  Marcus Rashford scored a goal in injury time but Manchester United still lost.Raul Jimenez and Diogo Jota scored for Wolves to dump United out of FA Cup.Manchester United had lost to Arsenal in the Premier League, breaking thier unbeaten run. highlights Wolves’ first threat came in the 28th minute when Ruben Neves’s low drive was well held by the United goalkeeper Sergio Romero and it was swiftly followed by a better one, Jota failing to connect properly with a volley from Matt Doherty’s centre.     United players surrounded referee Martin Atkinson screaming for a penalty in the 37th minute after Diogo Dalot’s hooked shot hit the elbow of Jonny as he turned his back on the ball. But Atkinson was unmoved.     The best chance of the half fell to Wolves, two minutes before the break. Neves sent Jota galloping clear for a one-on-one with Romero, but the United goalkeeper beat his curling shot away. United had the first opening of the second half when Rashford got away from Conor Coady on the right side of the box but could only whistle a fierce angled drive a few feet wide. Wolves replied with a rising, diagonal effort from Jimenez that looped comfortably over the bar.    Romero saves     Nuno Espirito Santo’s side were gaining in confidence however and created two chances that required some superb goalkeeping from Romero.     First he reacted sharply to tip over a bullet header from Jimenez from Joao Moutinho’s corner. The Argentine keeper then palmed over a rising chip from Moutinho from 25 yards as Wolves got on top.     Wolves scored the goal they had been threatening in the 70th minute. The chance seemed to be lost when Jimenez was forced backwards with his back to goal after being crowded out following a superb run by Moutinho, who breezed through three challenges cutting in from the left.     But the Mexican swivelled 180 degrees, after getting a lucky bounce off Pogba and drilled a low shot past Romero. Six minutes later Wolves doubled their lead.     Neves sent Jota racing clear on the counter as Wolves broke and the Portuguese left Luke Shaw in a heap before firing an unstoppable left-foot drive inside Romero’s near post.     High drama followed when Atkinson showed Victor Lindelof a red card for lunging in on Jota in front of the Wolves dugout. VAR was called and deemed it a booking, allowing the Swedish defender a reprieve. Rashford pulled one back with a shot on the turn in the fifth minute of the five added on, but it was too little, too late. For all the Latest Sports News News, Football News News, Download News Nation Android and iOS Mobile Apps.last_img read more

Mavericks Kitty Group Golf Tournament Tees-off Today

first_imgMavericks Kitty Group End of the Year Golf Tournament will tee-off today with about 80 golfers participating at the event.The tournament slated for Benin Club golf section’s golf course, GRA Benin City, Edo State is organised by the Mavericks kitty group in conjunction with BCGS is for the purpose of mutually enjoying the game of golf, and to promote the aspirations of all members of Benin Club.The group competition secretary, Air Commodore Oscar Iyare, noted that about 80 members within the golf section are participating at the tournament and it will feature men’s, ladies, veteran and super veteran category as well as regular men, and Mavericks members respectively.“The Mavericks kitty group under the leadership of AVM Hassan Aliyu with 25 members within the golf section decided to organise the tournament for all members of BCGS, with the purpose of mutually enjoying the game of golf and promotes the aspirations not only for golf section but of Benin Club as a whole.“There are lots of golf related trophies and other prizes to be won by all those who distinguished themselves in various categories at the event. “This edition is a closed tournament for BCGS members only, but there is a plan to make it an open tournament to other golfers across the country next year. The group comprises of people of like mind similar to The Lord’s group, Jami-Jami group, and Solid golf group within the club, Iyare said. “Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more