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Japan’s coincident index suggests economy may be in recession

TOKYO ( ) – Japan’s coincident indicator index declined in March and the government cut its assessment of the economy, a sign it may already be in recession as the U.S.-China trade war and weak external demand hurt activity.

Worries about the economy have grown as Japan’s exports and factory output were hit by China’s economic slowdown and the escalating U.S.-China trade friction, which had disrupted global supply chains.

The index of coincident economic indicators, which consists of a range of data including factory output, employment and retail sales, fell a preliminary 0.9 of a point in March from the previous month, the Cabinet Office said on Monday.

In its view on the index, the government described the economy as “worsening”. That compared with its previous assessment for February when it described the economy at “a turning point towards a downgrade”.

The index for leading economic indicators is compiled using data such as job offers and consumer sentiment and is seen as a forward-looking gauge of the economy. It slipped 0.8 of a point from February.

Clouding the outlook are government plans to raise a sales tax to 10 percent from the current 8 percent in October unless a big shock on the scale of Lehman Brothers’ collapse in 2008 hits the economy.

There is also speculation Prime Minister Shinzo Abe may postpone the sales tax hike as risks to demand grow, having already twice delayed it.

There are concerns the sales tax increase will damage private consumption as it did so when Japan raised the tax to 8 percent from 5 percent in 2014.

Japan releases gross domestic product (GDP) data on May 20, which will give a clearer read on the state of the economy and whether the government will proceed with the tax hike as sc上海夜生活论坛heduled.

The economy likely contracted at an annualized 0.2 percent in January-March as corporate and consumer spending weakened, a poll showed.

Russia’s top banks plot temporary sanctions workaround: sources

MOSCOW ( ) – Leading Russian banks are working on plans to help each other retain at least short-term access to the global financial system in the event that they are hit by fresh U.S. sanctions, sources familiar with the matter told .

Sberbank, VTB, Gazprombank and others are examining how they can provide each other with access to U.S. dollars or other major foreign currencies by using so-called correspondent accounts, the sources said.

Banks access financial services in different jurisdictions and provide cross-border payment services to customers in various currencies through correspondent banking relationships.

The new scheme, which banks started to draft with Russia’s finance ministry and the central bank last year, would be unlikely to work indefinitely but could help avoid a panic if one or several big banks are cut off from dollar transactions.

U.S. lawmakers last year drafted a sanctions bill which proposed cutting off some of Russia’s top banks from the U.S. dollar system, mentioning Sberbank, VTB, Gazprombank, Russian Agriculture Bank, Promsvyazbank, VEB and Bank of Moscow.

This did not come into force and recently another was proposed, without mentioning any specific banks.

But Russian banks still fear they could come under sanctions and so have begun to draft a contingency plan.

“Each important bank has a step-by step plan on what should be done in a given situation. The first month is set out day by day, if not hour by hour,” a senior financial official said.

The central bank and Gazprombank declined to comment. The finance ministry, Sberbank, VTB, Promsvyazbank, VEB and Russian Agriculture Bank did not reply to requests for comment.

The two biggest threats to the banking sector in Russia are being cut off from the SWIFT banking messaging system and losing access to foreign currency, which they usually get from U.S. banks via correspondent accounts.

In the event of being shut out of SWIFT, Russia already has its own system, which it is upgrading.

And for foreign currencies there are a number of options, said the sources, who include a high-ranking state banker, a well-placed industry official, an executive with a large bank and an individual in a foreign bank.

TEMPORARY FIX

The main option relies on at least one major Russian bank avoiding sanctions and being able to retain access to foreign currencies via correspondent accounts with major overseas banks.

Other Russian banks would then set up or upgrade existing correspondent accounts with that bank to shift currency around.

Publicly available documents show VTB has correspondent accounts with Sberbank and VEB, while Russian Agriculture Bank has accounts with VEB, VTB, Gazprombank, Sberbank and a number of other Russian banks.

VEB has such accounts with Sberbank and Gazprombank.

Sberbank, VTB, VEB, Gazprombank and Russian Agriculture Bank have correspondent accounts with the central bank as well.

However the bulk of these accounts are denominated in rubles, with only a handful in U.S. dollars and euros.

“This would (them) allow to move the dollars between themselves bypassing a correspondent account,” the source at a foreign bank said, adding that in order for the back-up to work one bank in the chain would need to have a U.S. dollar correspondent account with a U.S. bank as there would still be a need to make external settlements, necessitating a bridge.

Correspondent accounts would complicate tracking currency transfers between the banks, making them harder for overseas authorities to spot, a former central bank official said.

Such an arrangement would represent a “temporary solution” which might last for three or four months and buy the banks time to find an alternative, while also reassuring customers.

And a spike in currency transactions by the banks which had not been sanctioned and were dealing with the foreign correspondent bank would likely arous上海夜生活e suspicions.

Other options include the central bank providing forex currency to a ‘clean bank’ which in turn would then distribute it to peers via correspondent accounts, sources said.

Alternatively a sanctioned bank could use correspondent accounts directly with the central bank although that would raise the risk of the central bank itself being hit with sanctions and therefore, is unlikely, the sources said.

Trump knocks off Walker in key state of Iowa: poll

WASHINGTON ( ) – Donald Trump has surged ahead of the pack of Republican presidential candidates in the key state of Iowa, knocking off Wisconsin Governor Scott Walker, who had been the leading contender there, a poll released on Friday showed.

Walker had been leading among the 17 Republicans seeking the party’s nomination for the November 2016 election in the early voting state of Iowa, which borders Wisconsin.

The Quinnipiac University survey showed 27 percent of likely Republican caucus voters in the Midwestern state backed Trump, the outspoken businessman and television personality who has seen his lead in national public opinion polls grow in recent weeks despite a string of controversial comments.

Another 21 percent said they supported former neurosurgeon Ben Carson and 9 percent backed U.S. Senator Ted Cruz of Texas, a favorite of the conservative Tea Party movement.

The university’s July poll found Walker leading among 18 percent of likely participants in the state’s Feb. 1 caucus, followed by Trump and Carson with 10 percent each. In the poll released on Friday, just 3 percent said they would pick Walker.

“With five months until the balloting, anything can happen. But the field has become a two-tiered contest – Donald Trump and Ben Carson ahead and everyone else far behind,” Peter Brown, assistant director of the Quinnipiac University Poll said in a statement.

The results also showed the handicap that Washington experience has become in the minds of potential Republican voters, Brown said.

He added that Carson, who scored better than Trump among those surveyed when it came to honesty, empathy and temperament despite Trump’s edge on leadership, pointing to the ex-surgeon’s potential to gain support when other Republicans drop out of the race.

The findings also highlight the challenge for Walker, who had been leading most Iowa polls earlier in the summer and has in rec上海夜生活论坛ent weeks tried to jump-start his campaign.

Quinnipiac’s survey released on Friday polled 1,038 likely Iowa Republican Caucus participants from Aug. 27 to Sept. 8 and had a margin of error of plus or minus 3 percentage points.

French growth seen firming as impact of protests wanes: INSEE

PARIS ( ) – French quarterly growth will firm in the first half the year as consumer spending benefits from improving household incomes and recovering business confidence after protests at the end of last year, the INSEE statistics agency said on Tuesday.

The euro zone’s second-biggest economy is set to post growth of 0.4 percent in both the first and second quarters, up from 0.3 percent in the final three months of last year, INSEE forecast in its quarterly economic outlook.

The economy would have grown 0.4 percent at the end of last year as well if it were not for the impact of the yellow vest anti-government unrest, which INSEE estimated at 0.1 percentage point.

Protests in December saw some of the worst street violence in Paris in decades with rioters rampaging through upmarket neighborhoods, smashing store windows and burning cars.

With the exception of a flare-up last weekend, the violence has largely subsided since President Emmanuel Macron offered concessions in December worth more than 10 billion euros ($11.3 billion) in a package intended to boost the incomes of the poorest workers and pensioners.

INSEE said higher incomes would help consumer spending rebound 0.5 percent in the first quarter after flatlining at the end of last year in the face of the unrest, which forced many stores in central Paris to be boarded up during the peak holiday shopping period.

Business investment was also expected to recover in the first half of the year as confidence firmed albeit not to rates seen before a slowdown at the end of last year.

INSEE saw a limited impact to the French economy from Britain’s departure from the European Union, in theory still planned for the end of the month.

It estimated an orderly Brexit would knock a cumulative 0.3 percent off French growth over several quarters, while the impact could be as much as 0.6 perce上海夜生活论坛nt if London failed to reach a Brexit deal with the EU and tariffs were raised.

That was much less than impact INSEE estimated for Ireland (-1.4 to -4.1 percent) and Germany (-0.5 percent to -0.9 percent), as both countries are closer trade partners with Britain that France.

Sterling regains poise as fresh Brexit developments eyed

* Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh

* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv

LONDON, March 19 ( ) – The pound edged higher on Tuesday thanks to broad dollar weakness against its rivals as investors waited cautiously for developments on Brexit negotiations with less than two weeks before the United Kingdom is due to leave the European Union.

The British currency got off to a volatile start to the week, shedding half a percent in late London trading on Monday, after John Bercow, the speaker of Britain’s parliament, said Prime Minister Theresa May’s Brexit deal could not be voted on again unless a different proposal was submitted.

While traders have steadily reduced their fears that Britain will crash out of the EU without a deal in recent weeks, Bercow’s move means more uncertainty in the short term as the government 上海夜网races to convince opposing lawmakers to back May’s deal or request for an extension.

“The predominant notion adopted by the market is that as long as the worst case scenario of hard Brexit is avoided by delaying Brexit, the pound is a buy on dips,” Rabobank strategists said in a note.

That view was shared by Morgan Stanley strategists who said the pound remained a buy on dips. The U.S. bank’s positioning tracker showed broader market positions on the pound was broadly neutral.

Against the dollar, the pound firmed 0.1 percent higher at $1.3267. It rallied to a 9-month high against the greenback to nearly $1.34 last week and is down less than a percent from those highs.

Against the euro, the pound was broadly steady at 85.55 pence.

Despite the latest political developments, various gauges of volatility indicators for the pound ticked lower on Tuesday, reflecting a broader drop in currency market volatility.

Preview: Atletico Madrid – Girona

In the first round of the second half of the season, tenth-placed Girona will try to hand Atlético Madrid their first defeat at the Wanda Metropolitano in La Liga. So far, only Chelsea in the Champions League and Sevilla last Wednesday in the Copa del Rey have achieved a victory at Atlético’s fortress.

Flashscore presents the key facts before the match:

In the previous clash between (their only other official match in all competitions), the ‘Colchoneros’ came back from 2-0 down to draw 2-2 after two late goals in the final 15 minutes.

Girona are travelling to Madrid after a superb 6-0 win over Las Palmas in their previous match. Even though they have suffered two losses away from home recently, the Catalans are still among the top eight away teams in LL and have scored at least one goal in seven of their nine away clashes so far.

The managers for the two sides outlined the key points to consider for this match. Girona coach Pablo Machín talked about how difficult it is to score against 上海夜生活论坛Atlético (they have only conceded three goals at home all season in LL), while Diego Simeone warned that “Girona are a very intense and offensive side”.

It will be match number 350 for Diego ‘El Cholo’ Simeone at Atlético. Under the guidance of the Argentinian, the ‘Rojiblancos’ have notched an impressive 400 goals in LL (W147, D48, L36).

Players to watch: With the team’s top scorer Christian Stuani injured (ten goals), Michael Olunga will have to take charge upfront and after a hat-trick within 45 minutes last weekend, he could be just the man to spoil Atletí’s party.Top 5 Real Madrid players who are succeeding on a loan Tomás Pavel Ibarra Meda – We need to talk about the Top 5 Real Madrid players who are currently succeeding away from the club and are currently on a…

As for Atlético, it might be the right moment for Vitolo to make his debut in LL, after remaining on the bench for the last two fixtures.

Stat attack: Three of the last four wins for the ‘Colchoneros’ have been 1-0, a result that has been repeated in 32% of all of Atl. Madrid’s fixtures this season in LL.

As for Girona, they have scored in their last seven away LL matches.

Missing players

Atletico Madrid: Filipe Luis (thigh injury), D. Godin (suspension), N. Gaitan (doubtful)

Girona: J. Suarez (shoulder injury), P. Alcala (doubtful), C. Stuani (doubtful).

Preview: Sassuolo – Inter

Inter Milan will look to bounce back from their surprise loss to Udinese last weekend, whe上海夜网n they welcome Sassuolo in Serie A.

Flashscore presents the key facts before the match:

It is so tight at the top that one loss brought Inter down the table to third after 17 games (40pts, W12, D4, L1). Their first loss of the season puts them two points behind new leaders Napoli (42pts) and Inter must also be worried about AS Roma below them, who are now just two points behind with a game in hand.

Sassuolo are 15th in SA (17pts, W5, D2, L10) but have been on a revival since Beppe Iachini took control at the end of November. Nine out of their 17 points (53%) came in their last five matches where they picked up 1.8 points per game (compared to season avg. of 1.0 points per game).

The visitors are unbeaten in eight away games (W5, D3) conceding just five goals (avg. of 0.62 per game) while scoring 13 (avg. of 1.62 per game). This is bad news for the hosts who have just one win in eight home games (W1, D2, L5) and their home point tally (five) is better than that of only Genoa (two) and Benevento (one).

Inter’s Mauro Icardi has scored 17 goals so far in 17 games and is looking well on course to join Gonzalo Higuain and Luca Toni as the only strikers since the 1930s to score 30 goals in a SA season. The hosts want their talisman to get their title charge back on track, as they look for their first Scudetto since 2010!Italian football to pay respects to Sassuolo owner Squinzi George Patchias – Sassuolo owner Giorgio Squinzi has died at the age of 76, and a minute’s silence will be observed across Italian football this weekend as…

Sassuolo have failed to score in six of their eight home games (75%) while keeping just two clean sheets (25%). They have scored just three home goals (avg. of 0.38 per game) while conceding ten goals (avg. of 1.25 per game). But, the positive news is that their only win has come in their most recent match!

Sassuolo have won four of their last five (80%) encounters against Inter, with their only loss during this process coming last year at home (1-0). Can Inter repeat that feat?

Missing players

Sassuolo: C. Dell’Orco (knee injury), T. Letschert (knee injury), C. Adjapong (doubtful)

Inter: Z. Vanheusden (knee injury), J. Mario (doubtful).

Pogba: We need to win

Paul Pogba tried to motivate his fellow Manchester United players ahead of their derby against local rivals and league leaders Manchester City

The France international will not play in the Red Devils’ important match due to the suspension he picked up against Arsenal. However, Pogba has urged Jose Mourinho’s side to take the game to Pep Guardiola’s men on Sunday, when they meet in the English top-flight.

The United playmaker encouraged his club to throw bodies forward, as they need a win to get closer to their rivals in the league table. He said United must attack during the whole game.

“We need to. To win those games you need to give everything. You need to be there offensively, defensively. Kill the game when you have one chance because they are City and they have quality as well in front and they can kill the game at any time,” Pogba explained.Solskjaer “very pleased” after another failure to win George Patchias – Ole Gunnar Solskjaer said he was “very pleased,” even though United failed to win yet again.It is now ten games on the road since…

“They are first for good reason because they have been doing great at the start of the season. They keep winning and they didn’t lose one game and obviously mentally they are very strong.”

“I have complete trus上海夜生活t in the team. Even if I am not there, I will be there watching the game giving positive energy and hopefully we are going to win,” he added when asked about United’s chances to win the game.

“I’m very disappointed because I really want to help the team and wanted to be there for this derby because obviously we are playing City and in this moment, we need points and we need to win. It’s an important moment, an important game so, like I say, disappointed.”

“It’s a big derby and the atmosphere is going to be big. We want to win, we need to win as well,” the Frenchman praised the derby.

Bonucci expecting a Milan victory in Serie A derby

The Italian is grateful for his time with the Nerazzurri, but hopes to come out as a victor after the clash between Inter and AC Milan.

Leonardo Bonucci has looked back on his spell with Inter Milan ahead of the Serie A derby on Sunday. The Italy international completed a shocking move during the summer as he swapped the Nerezzurri with the Rossoneri in a record €40m deal.

Even though Bonucci is thankful for his great time at Inter, he is expecting a win for his new club AC Milan despite a rather shaky start of the season.

“I arrived when I was 17 years old and had two splendid years in their youth academy, where I really improved a lot,” Bonucci told Tencent Sports.

“They are a good side with some great individual talents and chose an important coach in Luciano Spalletti.

“We’ll have to be very wary and give our best. I would take Antonio Candreva and Eder off the Inter squad, as they are my Italy team-mates and they’re two really great guys.Ernesto Valverde praises Lionel Messi’s “fantastic” impact Andrew Smyth – Ernesto Valverde praised a not fully-fit Lionel Messi’s impact as Barcelona came from behind to beat Inter Milan 2-1 on Wednesday.

“I predict a Milan victory, but I won’t tell you [by] how much.”

The Italian also shared a few words regarding his choice to join the Rossoneri, stating that the new challenge at San Siro is what brought him to AC Milan.

“This stadium is the history of football, the most important arena in Italy. Stepping into San Siro always has an effect on you,

“The Rossoneri project is what pushed me to choose this great challenge. I knew there would be difficulties, but I accepted it because I wanted to challenge myself again.

“The objective is to set no limitations in Serie A or the Europa League. Qua上海夜生活网lification for the Champions League must be the minimum target, as Milan have to play in that tournament every year.”

Real Madrid preparing huge offer for Spurs’ star

Los Blancos are interested in Harry Kane and willing to spend big to land the striker.

According to sports news outlet Diario Gol, Real Madrid are prepared to launch a huge offer for Harry Kane. As the report states, the La Liga champions are willing to offer money plus one of Gareth Bale, Luka Modrić or Karim Benzema.

The English striker has been in outstanding form since the start of 2017, netting 43 goals in 37 appearances for both club and country. September proved上海夜生活 to be one of the most fruitful months for him as he reached a milestone of 13 goals across all competitions.Donny van de Beek rules out January switch to Real Madrid Andrew Smyth – Donny van de Beek has ruled out a January move to Real Madrid as he plans to see out the remainder of the 2019/20 campaign with Ajax.

It is no secret that some of the biggest European clubs are interested in the forward due to Kane’s impressive and consistent performance on the pitch. However, it is rather surprising to see Real Madrid willing to give up on Luka Modrić, who is considered by many the best central midfielder in the world of football at present. Yet, a potential offer including Bale or Benzema would make more sense given the inconsistent showing of the Frenchman and the high number of injuries of the Welshman.

Smalling: “I don’t have to prove anything”

Chris Smalling wasn’t called up to the national team by Gareth Southgate last time but the Englishman insisted that he has nothing to prove to the national team coach as he is playing regularly under José Mourinho.

The 27-year old has been an important part of Manchester United squad but Gareth Southgate said that he isn’t sure about Smalling’s passing ability – the defender remains calm though as he mentioned that he is playing under one of the greatest managers and he is happy for it. He didn’t want to criticize Southgate but he said that he won’t prove him anything.

The central defender spoke about this situation as he said, according to Sky Sports: “I don’t feel like I really need to prove anything to Gareth because I play under one of the biggest and most successful managers in Jose and he’s only going to pick the best players. While I’m playing regularly and he is happy I think ultimately if my season carries on like this and we have a successful season and our team still concedes very few go上海夜生活als, then I think it gives him maybe no choice in the summer but to pick me.”Top 5 Premier League players in September’s last weekend Tomás Pavel Ibarra Meda – A fresh Premier League fixture just ended, which means we can talk about the Top 5 best players of September’s last weekend.After a fresh…

He added that he feels really good and thinks that he is doing well: “I’ve been getting a good run of games over these last few months and I’m feeling good and that’s the feeling you want, you want to be able to play regular games and be a part of a successful team. So far we have been successful, it’s just making sure we keep this going and improve on last year where we got two trophies and we want to at least beat that.”

Smalling is sure that the fact that he plays regularly under José Mourinho should be enough: “I play for one of the biggest clubs and under one of the most successful managers in Jose and while that’s the case I think, ultimately, it is your club form that decides whether you play at a World Cup because there aren’t that many England games throughout the season.”

Benzema blames Ronaldo and Zidane for Real situation

Real上海夜生活 Madrid are going through a real crisis in La Liga. The draw against Atletico has seen them falling ten points below league leaders Barcelona.

Having been identified as a reason for the underwhelming start of the season, Karim Benzema defends himself, saying that manager Zinedine Zidane and Cristiano Ronaldo share the blame for the lack of goals.

Real Madrid have only scored 22 goals this La Liga season, with Cristiano Ronaldo and Karim Benzema each scoring only once. The attack’s lack of efficiency has had a huge impact on their standings in the league, where they are currently third, six points behind Valencia and ten behind Barcelona.

Karim Benzema is unhappy with the fact that he has been pointed as the main responsible for the lack of goals and has made his frustrations known to the club’s president, Florentino Perez. According to Diario Goal, the French striker said that the blame should be shared between him, Cristiano Ronaldo and Zinedine Zidane.Ronaldo scores in Juventus’ victory vs Bayer Leverkusen Tomás Pavel Ibarra Meda – With goals from Higuain, Bernardeschi, and Ronaldo, Juventus defeated Bayer Leverkusen in their second Champions League match.Juventus really needed a victory after the initial…

According to the source, Benzema feels that he would be much more effective if Ronaldo wouldn’t move so often in his area of action, in central positions. Furthermore, the French striker believes that Zidane allows Ronaldo freedom of movement on the pitch because of his superstar status at the club, but this affects the performances of the team.

The report also suggests that Benzema asked Perez to leave the club if the situation doesn’t change. The ex-Lyon striker arrived at Santiago Bernabeu in 2009. He played 378 matches for the club, during which he scored 182 goals.

Benzema started the match against Atletico Madrid (0-0) as a central striker, but didn’t have any goalscoring opportunities during the 75 minutes he spent on the pitch. He was substituted with Marco Asensio, but Real still didn’t manage to win and lost two important points in the title race in La Liga.

Cascarino thinks that Morata is “too nice for Chelsea”

The former Chelsea striker, Tony Cascarino, thinks that Alvaro Morata is “too nice” and the Blues are missing “the nastiness of Diego Costa” as they are no longer able to bully their opponents.

Diego Costa managed to score 20 goals in the previous season but after that, Antonio Conte decided to part company with the Spanish forward – and he brought Alvaro Morata from Real Madrid as the replacement. The former Juventus striker has been doing well so far as he scored seven times in 11 matches but Cascarino feels that he is not the right man for the team.

Cascarino spoke about Morata’s contribution as he said, according to Goal: “Alvaro Morata is a big talent but I wonder if Chelsea are missing the nastiness of Diego Costa up front. Morata is such an honest player: [against Roma] he literally picked up Federico Fazio when the Roma 上海夜生活网defender fell to the floor. I can just imagine Costa shoving Fazio aside if he had been in the same position.”Jamie Carragher puts Chelsea over Manchester United and Arsenal Nedim Maric – In an uneventful derby, last night, Manchester United and Arsenal both got point each.Top four-fight this season looks like it’s going to be between…

He thinks that Chelsea are missing a rude attacker like Costa was: “Morata scores plenty of goals and is a fine all-around player but Costa was always on the edge; bullying people, fouling or being fouled. Perhaps Chelsea as a whole have become nicer to play against. I remember I would pick up opponents in the early part of my career but, by the end, I certainly didn’t. I learned that no centre back would do the same for me.”

The former player of the London club also made a comment about the performance of Cesc Fabregas: “Roma’s third goal provided a classic illustration of why Cesc Fabregas should only be part of a midfield pairing when Chelsea are playing against fairly weak opposition — otherwise he should be in a midfield trio. He gave the ball away to Aleksandar Kolarov and then it was as though he had a parachute on as he tracked back to try to make up for his mistake. He has never been the quickest but he seems to have lost half a yard of pace.”

Updates about Carvajal’s condition

Excellent news are coming from Spain, where it was announced that Dani Carvajal is out of any danger.

The Spanish full-back of Real Madrid was diagnosed with a viral infection of the pericardium and was ruled out of action indefinitely. So far, no news emerged about Carvajal’s situation and there were worries about his general health condition, after the medical staff of Real Madrid said that they don’t know when will the player be ready to play again. He was offered treatment and was kept under supervision by the team’s doctors.

However, AS now announced that the right-back is out of any danger and will return to the first team training sessions very soon. Although the medical team of Real Madrid cannot say exactly when Carvajal will re-join his teammates, rumours suggest that this will happen until the end of October, the player needing at least one more week of rest.Real Madrid injury update ahead of Champions League clash Nedim Maric – Atletico and Real Madrid pl上海夜生活论坛ayed the Madrileno derby last night which finished in a bore 0-0 draw.In the absence of Marcelo and Ferland Mendy,…

Dani Carvajal played 11 matches this season and provided two assists for his teammates. However, he stopped training with his colleagues on the 30th of September, due to the medical condition that was discovered during a routine medical check.

The Spanish right-back signed a new deal with Real Madrid recently, keeping him at the club until 2022. The 25-year-old played 170 matches for Los Blancos, scoring 4 goals and managing 27 assists. His current market value is €32m, according to Transfermarkt.

People have already seen the best of Walker thinks Spurs manager

Mauricio Pochettino believes the the full-back’s prime days were at White Hart Lane.

Tottenham manager Mauricio Pochettino believes Kyle Walker will prove he is a quality player at the Etihad stadium, but also claims his best days are in the past.

The England defender completed a record-breaking £50 million switch from Spurs to Manchester City, making him the most expensive defender in English football history.

Kyle Walker spent eight years with Tottenham and became one of the fans’ favourites. Despite the fact Pochettino is sure Walker will succeed under Guardiola, he also thinks that he struck a good bargain for Tottenham.

“He’s one of the best full-backs in England and Manchester City have paid a lot of money – £50 million – just like they have signed different players to try to get success in the future,” the Argentine said, according to Goal.Paiva says Felix would have done better at City or Barca George Patchias – Joao Felix would have become a better player at Manchester City or Barcelona 上海夜生活网according to former coach Renato Paiva.Renato Paiva was the prodigious Portuguese…

“But, for me, I think we have seen the best of Kyle with Tottenham.

“We helped him improve and learn. When you pay this type of amount for a player, it’s because he’s top and because you are at your best. Then it’s normal that he will succeed.

“It’s a big pressure because when you pay for some players, the pressure to perform as well in every game becomes greater.”

Meanwhile the Citizens parted ways with a number of defenders – Clichy, Sagna and Zabaleta all left the club while Monaco’s Benjamin Mendy arrived at Etihad.

Dani Alves asks Juventus to allow him to leave on a free

The Brazilian full-back is a wanted man. His former manager, Pep Guardiola, wants him at Etihad and the player has made the first step towards a reunion.Written by Cosmin Mihalescu. June 20, 2017.

Manchester City are looking for solutions to fill in their vacancies in the squad. The most sensible role right now is the that of full-backs, after the departures of Gael Clichy, Bacary Sagna and Pablo Zabaleta.

City has long been linked with moves for Kyle Walker and Benjamin Mendy, but neither of those has turned into anything concrete yet. For this reason, Guardiola is exploring other options. And his former pupil at Barcelona, Dani Alves has become a top priority.Kane: Spurs out of excuses after shock Carabao Cup exit Andrew Smyth – Harry Kane concedes that Tottenham only have themselves to blame following a shock Carabao Cup exit at the hands of Colchester United.

The Brazilian right-back still has one year left on his contract with Juventus, but he doesn’t seem to eager to fulfil that deal. According to the Italian press, the player’s agents had a meeting with Juventus executives to discuss the possibility of ending Alves’ contract.

Besides Manchester City, Chelsea are also reportedly interested in the services of the 34-year-old. And being a free agent would allow him to get a better deal than if any interested club would also have to pay a transfer fee.

Juven上海夜生活网tus were looking to get around €5m for their player, but reports suggest that they will not make it hard for Alves to leave Italy and will eventually agree to end his contract. The former Sevilla and Barcelona man played 32 matches for Juventus last season in all competitions, scoring six goals and providing six assists along the way. He has helped Max Allegri’s side to win the Scudetto for the sixth year in a row and also to reach their second Champions League final in three years.

Brandt decided to stay put

Julian Brandt reflect on the interest around him and the possibility of a transfer move.Written by Cosmin Mihalescu. May 5, 2017.

Brandt has been heavily linked with both Bayern Munich and Liverpool lately, but the 21-year-old would prefer to stay at Leverkusen in order to receive his much needed first-team football.

Bayern Munich are already looking into the future and are considering long-term replacements for Arjen Robben and Franck Ribery, who are both approaching the en上海夜生活d of their careers. Jurgen Klopp is also reportedly interested in Brandt, having closely monitoring him from when he was managing Dortmund.Inter Milan V Lazio: Players to Watch Taimoor Khan – Inter Milan are set to host Lazio at the San Siro on Thursday and the game is definitely going to be an exciting affair…

Although Leverkusen are underachieving this season, being 12th in the Bundesliga, the German is thinking of remaining at BayArena for next season as well.

“If you make a move, there’s no guarantee that you play. I think it is very important for me to play many matches next season and that’s what I can do in Leverkusen”, said Brandt in an interview.

Julian Brandt has scored three goals and registered eight assists in Bundesliga this season. He has played 38 games for Bayer Leverkusen in Bundesliga and Champions League.

As Barneys struggles, fashion vendors try on alternative channels

PARIS/NEW YORK ( ) – When fashion label Prada (1913.HK) started demanding greater control over shop floor arrangements in U.S. department stores, Barneys New York, now mired in bankruptcy proceedings, was one of the few with enough swagger to resist.

The luxury retailer, respected by its well-heeled clients for its selection, said in interviews at the time it wanted to maintain its influence over buying the merchandise rather than ceding to a leased shop-in-shop controlled by the brand.

Prada eventually reintroduced its women’s styles to the department store after a three-year hiatus, and still counts Barneys as a wholesale partner, a person close to the label said.

But if that stand-off ended well for Barneys, its bankruptcy last week may give fashion and luxury brands new motivation to move beyond wholesale arrangements with department stores, to focus on their own stores and websites.

“Most luxury vendors prefer to sell at their own stores, rather than in wholesale,” said Jerry Storch, chief executive officer of consultancy Storch Advisors.

While fashion brands still like Barneys’ trend-setting vibe, direct sales are far more profitable than wholesale arrangements, and vendors ultimately want to be in control of their own operations and brand experience, Storch said.

Barneys New York owes some $1.6 million to Prada alone, as well as millions more to labels from Kering (PRTP.PA)’s Gucci to LVMH (LVMH.PA)’s Givenchy, according to its bankruptcy filings, and friction with vendors had been building up.

According to Barneys’ court filings, merchandise shipments began to slow over the summer, with many vendors refusing to send their inventory unless they got cash on delivery.

“There was a lot of talk among brands about finding other distribution channels,” one source familiar with Barneys’ supplier network said. “They’d been paying late, in the market, everyone knew that.”

Barneys has until Oct. 24 to avoid liquidation by finding a buyer and clinching a sale, according to terms of its bankruptcy financing outlined during a court hearing last week.

“Barneys is committed to working closely with our vendors to ensure we continue providing our customers with excellent services, products and experiences,” a company spokeswoman told .

    “We have secured approximately $218 million in new financing from partners who have directly expressed confidence in our ability to achieve a value-enhancing transaction,” she said. “This capital will be used, in part, to ensure our long-standing relationships with our vendor partners who are so essential to our future success.”

For major luxury brands, hiccups in the wholesale chain only compound the allure of controlling their own wares with their own stores, as they seek to master their image by avoiding mark-downs, gain flexibility to roll out products at varying paces, increase brand exposure, and boost margins – and the trend in that direction is picking up.

PRADA’S PUSH INTO MINI-STORES

Prada, with just under 20% of revenues derived from wholesale accounts, wants to whittle that down to 5% over the next three to five years, Chief Executive Officer Patrizio Bertelli told analysts in early August.

The bulk of that reduction will fall on Italy and the rest of Europe. Prada had already transformed some 40 sale locations in U.S. department stores into concessions, essentially mini stores brands operate within host department stores.

The concessions model is already more prevalent in Europe. Parisian department stores like Galeries Lafayette are a maze of branded shop-in-shops. But it is a cultural shift for many U.S. luxury retailers including Neiman Marcus [NMRCUS.UL] and Macy’s Inc’s (M.N) Bloomingdale’s, where concessions are somewhat less common.

Barneys does not do concessions across any category in general. Barneys recently hosted limited-time pop-ups with brands such as Chanel, Bulgari and Moynat.

“Department stores that move to concessions don’t need an internal buying team to select merchandise anymore,” said Mario Ortelli, managing partner at luxury consultancy Ortelli & Co. “What they have to do is create the right retail environment to generate store traffic and attract the brands.”

Another industry source said that concession fees, where retailers typically get around 30% of sales, are starting to fall as brands are in a stronger position to negotiate.

If brands have more say about where and how their merchandise is sold, some may choose to exit less profitable department store locations.

“That’s a real risk for the major department stores because they depend on having the big name brands in their stores to give them credibility, so the pressure is really on,” said Ron Frasch, the former president at retailer Saks Fifth Avenue as well as its rival Bergdorf Goodman.

The Barneys department store chain, struggling with declining sales and soaring rent, plans to close 15 locations and wants to keep seven stores – including its flagship on Madison Avenue in New York – open for business.

Vendors are also increasingly exploring other means of distributing merchandise via partnerships with players like Rent the Runway, Richemont’s (CFR.S) Yoox Net-a-Porter and Stitch Fix Inc (SFIX.O).

To fend off some of this competition, some high-end department-store chains have formed partnerships of their own.

In June, for example, Nordstrom Inc (JWN.N) and Rent the Runway announced a tie-up that aims to draw more foot traffic into the department store while making the clothing rental service more convenient.

In April, struggling upscale U.S. retailer Neiman Marcus took 上海夜生活论坛a minority stake in online luxury reseller Fashionphile. In 2016, the luxury department store also teamed up with Rent the Runway and opened its first in-store Rent the Runway shop in a bid to attract younger shoppers.

Explainer: How powerful are Congress subpoenas, contempt citations?

( ) – U.S. House Democrats threatened on Thursday to hold Attorney General William Barr in “contempt of Congress” for not complying with a subpoena to hand over an unredacted version of the Mueller report. What does that mean?

Congress does not arrest and detain people for ignoring its subpoenas anymore, but it still has significant power to demand witnesses and documents, though it could take time. The contempt citation is a key part of that congressional clout.

President Donald Trump, with Barr’s assistance, is stonewalling several inquiries being led by Democrats in the House of Representatives into his administration, his family and his personal business interests.

The confrontation between the White House and Congress escalated on Thursday when Barr refused to appear for a hearing before the House Judiciary Committee on his handling of Special Counsel Robert Mueller’s report. The report focused on Russian interference in favor of Trump in the 2016 U.S. election and subsequent attempts by Trump to impede Mueller’s investigation.

Here is how the congressional subpoena, contempt and enforcement process works.

What is a subpoena?

A subpoena is a legally enforceable demand for documents, data, or witness testimony. Subpoenas are typically used by litigants in court cases.

The Supreme Court has recognized Congress’s power to issue subpoenas, saying in order to write laws it also needs to be able to investigate.

Congress’ power to issue subpoenas, while broad, is not unlimited. The high court has said Congress is not a law enforcement agency, and cannot investigate someone purely to expose wrongdoing or damaging information about them for political gain. A subpoena must potentially further some “legitimate legislative purpose,” the court has said.

What can Congress do to a government official who ignores one?

If lawmakers want to punish someone who ignores a congressional subpoena they typically first hold the offender “in contempt of Congress,” legal experts said.

The contempt process can start in either the House or the Senate. Unlike with legislation, it only takes one of the chambers to make and enforce a contempt citation.

Typically, the members of the congressional committee that issued the subpoena will vote on whether to move forward with a contempt finding. If a majority supports the resolution, then another vote will be held by the entire chamber.

The Democrats have majority control of the House; Trump’s Republican Party holds the Senate.

Only a majority of the 435-member House needs to support a contempt finding for one to be reached. After a contempt vote, Congress has powers to enforce a subpoena.

How is a contempt finding enforced?

The Supreme Court said in 1821 that Congress has “inherent authority” to arrest and detain recalcitrant witnesses.

In 1927, the high court said the Senate acted lawfully in sending its deputy sergeant-at-arms to Ohio to arrest and detain the brother of the then-attorney general, who had refused to testify about a bribery scheme known as the Teapot Dome scandal.

It has been almost a century since Congress exercised this arrest-and-detain authority, and the practice is unlikely to make a comeback, legal experts said.

Alternatively, Congres上海夜生活s can ask the U.S. attorney for the District of Columbia, a federal prosecutor, to bring criminal charges against a witness who refuses to appear. There is a criminal law that specifically prohibits flouting a congressional subpoena.

But this option is also unlikely to be pursued, at least when it comes to subpoenas against executive branch officials, given that federal prosecutors are part of the branch’s Justice Department.

“It would be odd, structurally, because it would mean the Trump administration would be acting to enforce subpoenas against the Trump administration,” said Lisa Kern Griffin, a former federal prosecutor and a law professor at Duke University.

For this reason, in modern times Congress has opted for a third and final approach to enforcing a contempt finding: getting its lawyers to bring a civil lawsuit asking a judge to rule that compliance is required.

Failure to comply with such an order can trigger a “contempt of court” finding, enforced through daily fines and even imprisonment, Griffin said.

As Japan frets about dearth of AI talent, Daikin develops own program

OSAKA ( ) – There’s a sense of panic within Japan Inc and the government – the world’s No. 3 economy doesn’t have enough experts in artificial intelligence and it’s time to do something about it.

SoftBank Group Corp (9984.T) CEO Masayoshi Son last month bemoaned the state of play, calling Japan a ‘developing country’ in the most important current tech revolution.

Prime Minister Shinzo Abe in June unveiled a plan to train 250,000 people in AI skills annually by 2025, albeit one criticized as unrealistic due to a shortage of teachers. Tech heavyweights like Sony Corp (6758.T) are hiking pay for the right hires and boosting recruitment of foreign engineers.

But Daikin Industries Ltd (6376.T), the world’s biggest maker of air conditioners with a market value of $37 billion, is taking a more unusual route to AI expertise.

At a disadvantage to bi上海夜生活论坛gger tech firms in attracting top talent, it has created an in-house program that takes new graduates and current employees – almost all with no AI background – and trains them up.

It aims to make 1,000 employees AI-savvy by 2022, in what Daikin says is one of the most ambitious AI-specific training programs by a Japanese company.

“We have a sense of crisis as we don’t have experts well-versed in information technology when AI and data analysis are in great demand,” Yuji Yoneda, executive officer at Daikin’s Technology and Innovation Center, told .

Daikin sees AI as essential to its future business model, in which it plans to offer subscription services with AI-powered air conditioners adjusting the temperature and quality of air autonomously to improve efficiency in factories and households.

“Just as car makers are promoting the concept of mobility as a service, we will promote air as a service by providing various services related to air,” he said.

New hires get the most training with a two-year program. The first crop of 100 graduates hired last year took classes given by Osaka University professors for about six months, with the rest of their first year spent on data analysis and group work. This year, they have been assigned to various departments for on-the-job AI training.

Daikin declined to comment on the cost of its program.

By comparison, Sony offers its engineers 290 courses, including AI-courses, that range from a few hours to several days.

Daikin is also keen to hire more engineers from India and China but says its struggles in the United States where it needs to offer hundreds of thousands of dollars to attract the graduates it wants. Additionally, it is looking at raising pay for AI experts to keep them loyal to the company.

LAGGING JAPAN

Japan’s AI woes can be overstated. Of the top 20 companies in AI patents, 12 are Japanese, according to the World Intellectual Property Organization’s 2019 report on technology trends. These include Toshiba, NEC Corp (6701.T), Panasonic Corp (6752.T), Sony and Toyota Motor Corp (7203.T).

But compared to the United States, which issued a national AI development plan in 2016, and China which unveiled plans in 2017 to become a global leader in AI by 2025, Japan is lagging.

Combined Japanese government and corporate investment in information and communication technology was 16.3 trillion yen ($150 billion) in 2017, up 12% from 1994, Japanese government data showed. By contrast, U.S. investment in the sector more than tripled over the same period to $655 billion.

Japanese universities have also come under fire for not doing enough in AI and data science education. The industry ministry estimates Japan had a shortage of 220,000 IT workers in 2018, which could deepen to 790,000 in 2030 – a prediction that was part of the impetus for Abe’s plan to train 250,000 people in AI annually.

In contrast, the World Intellectual Property Organization report noted that Chinese organizations make up 17 of the top 20 academic players in AI patenting.

LIFTING PAY

Hitoshi Matsubara, vice president of Future University Hakodate and an expert in AI, says Japan needs to invest more, make IT jobs more attractive and shake off the mindset that most employees of the same age should be treated equally.

“In Japan, IT jobs have long been thought of as labor-intensive with low pay and late-night work. If they are as well-paid and rewarding as in the United States and China, information science would become more popular among students,” he said.

That is starting to change.

This year, Sony began to offer starting salaries of up to 7.3 million yen for postgraduates proficient in areas such as AI, compared with its standard starting salary of 6 million yen. Toshiba also overhauled its pay system, allowing it to offer bigger salaries to people with expertise in AI and the Internet of Things.

Chat app operator Line Corp (3938.T), which is diversifying into fintech and AI, also boosted annual pay to top graduates to as much as 8 million yen compared to 5.5 million yen for lower-skilled engineers. It is also a heavy recruiter of foreign engineers, who account for 37% of its 670 engineers in Japan.

Sony too is casting its net wider, with favored recruitment grounds including Carnegie Mellon University, Tsinghua University and Indian Institute of Technology.

“Competition in hiring IT talent – whether new grads, mid-career and foreign workers – is getting tougher and tougher,” says Kazunari Ikeyama, a manager in Sony’s human resources division. “We’re broadening our focus, not just in Japan but also globally.”

($1 = 108.5300 yen)