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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.

GRAPHIC-Take Five: Trade winds – World markets themes for the week ahead

May 10 ( ) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the stories related to them. 1/WATCH THOSE CURVES Moody’s warned this week that a trade war could tip the U.S. economy into recession next year. And U.S. President Donald Trump’s latest decision to hike tariff rates on Chinese goods has possibly brought that risk a bit closer. At least the bond market seems to think so — the yield on three-month U.S. Treasury bills is on the cusp of rising above 10-year yields.

A sustained curve inversion, as such a shift is called, would be seen as a sure-fire recession signal; in a normally growing economy, longer-dated borrowing costs are higher than short-term rates.

But the curve has sent a false alarm at least once before and some believe it is doing so again, above all because huge Fed purchases have depressed longer yields. Huge issuance of short-term debt is also likely to have contributed to the flattening.

Which brings us to another question. Given 2019 net borrowing will top $1 trillion, might Washington find itself scrambling to find buyers? Some dismal bond auctions recently have raised the question whether China is paring Treasury purchases — due to the escalating trade spat. Simmering tensions will keep the issue alive.

-EXPLAINER-What is an inverted yield curve -Flattened yield curve reason to be nervous, but US economy solid – Fed’s Evans -U.S. yields spike after dismal 10-year note sale

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2/ TALK, TWEET, REPEAT Industrial output, retail sales, house prices: a batch of data due in coming days was supposed to give investors an idea about how China’s economy was faring against a backdrop of 10% U.S. tariffs and authorities’ stimulus policies.

Fast forward and the stakes have been raised — quite a lot. On Friday, Washington hiked tariffs on $200 billion worth of Chinese goods to 25% and Trump, reverting to Twitter, has threatened more. Beijing warned it would retaliate, though it didn’t say how.

Negotiations to try to end a 10-month-old trade war between the world’s biggest economies are continuing, and markets have taken heart from China’s decision to stick with the talks. Another factor is China’s central bank, which assured markets it had “rich” policy tools to cope with external uncertainties. Weak economic data can only cement that resolve. -Trump’s tariff hike on $200 bln of Chinese goods takes effect -More China policy easing seen as lending slows, trade risks rise -Counting the cost of the U.S.-China trad上海夜生活论坛e war so far tmsnrt.rs/2Lzed8e

3/OIL SLICK The world economy seems to be shifting into a lower gear but Brent crude futures are holding above $70 a barrel, up 30% this year. Barclays sees a climb to $74-$75 in the coming year.

In the short-term too, oil looks well-supported. On the demand side, Chinese imports hit a record in April, possibly due to economic stimulus measures taking effect. And supply has been curtailed by a pipeline contamination issue in Russia and U.S. sanctions that have cut shipments from Venezuela and Iran.

Venezuelan exports have dropped 40% since January and Iran’s exports have more than halved, to one million barrels per day or less. They are expected to slide further in May.

None of these issues will be resolved anytime soon. Iran for one is threatening to retaliate against U.S. sanctions by breaching a nuclear pact signed in 2015. Sanctions have failed to dislodge Venezuelan President Nicolas Maduro but they are likely to cut oil exports further in May, after the expiry of an April 28 deadline for U.S. firms to complete existing deals.

-U.S. sanctions and Venezuela’s exports and imports -OPEC supply squeeze seen supporting higher oil prices -Sinopec, CNPC skip Iran oil purchases for May to avoid U.S. sanctions tmsnrt.rs/2VThqU1

4/NO STICKER SHOCK Few U.S. data series have been as choppy in recent months as retail sales. December’s drop in core sales was the largest in nearly two decades — only to be followed by an equally large swing to the upside in January. Demand for big-ticket items like cars then pushed the March total to the highest in 18 months.

Consumer resilience, emboldened by a strong job market, was a key pillar of support for the U.S. economy in the first quarter. So the April reading will show if that willingness to spend continues into Q2.

estimates point to the first back-to-back rise in retail sales since November. Headline sales are seen up 0.2%.

The report comes soon after Trump imposed new tariffs on $200 billion of Chinese imports, but it is far too soon to see a meaningful impact from the trade war between the world’s two largest economies. Shoppers will probably not start reacting to sticker shock until the third quarter. -U.S. retail sales post biggest gain in 1-1/2 years in March -Fed rate cut likely if U.S. manufacturing continues to slow: Kemp tmsnrt.rs/2VVixm4 5/ITALIA DEJA VU Once again it seems there’s good reason to fret over Italy, the euro zone’s third-biggest economy — and one of its most indebted.

Tensions have flared within the ruling coalition over a corruption scandal that cost a junior minister his job. Rome may find itself footing the bill for a bank bailout after BlackRock ditched a proposed rescue of Carige. And finally, the European Commission has warned that Italian finances may deteriorate further. So another showdown with the EU might be looming.

How talks on deficit targets may pan out could become clearer at the May 16 Eurogroup meeting of finance ministers.

Signs of compromise will bring relief to Italian bond markets, where yields have seen their biggest weekly jump in three months with a rise of over 10 basis points. Contrast that to Spain and Portugal, often lumped in with Italy as the euro zone “periphery” — 10-year Spanish yields are at 2-1/2 year troughs while Portuguese yields have touched record lows.

The latest bond sell-off, which took Italian yields to 2.7%, is small compared to the rout a year ago when yields spiked to 3.4%. But who could be blamed for a sense of deja vu? -Rome scrambles to swerve Carige bank bailout after BlackRock pulls out -Italy coalition patches up rift after PM ousts junior minister

-Italy accuses EU of prejudice after grim economic forecasts

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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.

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).

Herrera lauds Sanchez’ workload

The Chilean’s debut for the Red Devils left a lot of people impressed, but one of his team-mates was struck by a different aspect of Sanchez’ game.

Manchester United midfielder Ander Herrera has revealed how intrigued he was by the Chilean’s tireless work ethics in the Red Devils 4-0 FA Cup win over Yeovil on Friday.

Sanchez took part in the hosts two opening goals and created a lot of chances for his team-mates, but it was another thing that caught Herrera’s eyes during the game.

– Yeah, amazing. He has played very good, but what I really like from him is the way he fights when he loses the ball. – the midfielder told MUTV.Opinion: Solskjaer needs patience from Manchester United Tomás Pavel Ibarra Meda – As we enter into one of the most complicated moments for Solskjaer, we believe Manchester United needs to be patient with him.Ole Gunnar Solskjaer…

– He is always ready to be the first defender of the team. That’s going to be very important for us.

– Of course, we know his quality. He is going to be amazing for us but the way his first, the way he defends I really like it.

When it comes to United’s goals this season and their look on the FA Cup, Herrera added:

– We have won the FA Cup two seasons ago and last season we won three trophies, so this club is about titles, and we are not going to give 上海夜网any competition away, we are going to fight for everything.

Fellaini spoke about his future at Manchester United

Marouane Fellaini, the Manchester United midfielder, spoke about his future at Manchester United and he revealed that he is “not sure whether he will stay at Old Trafford” if the club will make him another contract offer.

The Belgium international spoke about his situation as his contract is going to expire the upcoming summer and he can possibly leave the club – and he admitted that he has been thinking about this possibility. The 30-year old insisted that he expects another proposal by Manchester United but he doesn’t know yet how is he going to react.

The former Everton player spoke about his opini上海夜生活论坛on on that situation as he said, according to ESPN: “Honestly, I don’t know. I do have something in mind, but I cannot say anything about this yet. If Manchester didn’t want me anymore, they would have told me. They made an offer and they will likely make me another one. Whether I will accept that I am not sure. Those things don’t happen overnight.”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…

He also added that he also talked about it with José Mourinho and he respects his decision: “No, we talked about it. The manager is someone who respects his players’ decisions. This is my 10th season in England. Aside from my first experience at Manchester I only had good moments. Five years at Everton, five years at Manchester. I like the stability. It takes a couple of years before you build relationships. I know everyone by now — that is nice.”

In the end, Marouane Fellaini revealed further facts about his injury: “The inner ligaments were touched. One month later I played again, against Chelsea. But three weeks later, against Brighton, I felt pain again. I decided not to take the risk. I trained again, but not at 100 percent. It wasn’t an easy time, but hey, that’s how it works in football. It could have been worse. Two weeks before Bosnia, there was that attack from [Southampton striker] Shane Long.”

Kane: “My teammates deserve the praise, not me”

Harry Kane, the Tottenham striker, admitted that he asked his teammates for help with breaking Alan Shearer’s record ahead of the match against Southampton and he praised them for doing so.

Alan Shearer’s 22-year old record of 36 goals scored was broken – Harry Kane managed to level it in the match against Burnley and now, he has surpassed him by scoring another hattrick against Southampton and set a new benchmark of 39 goals. To be added, he has also become the world’s top scorer of 2017 by surpassing Lionel Messi by two goals and he admitted that he is very happy for that as he wants to score as many goals as he can.

The Englishman spoke about his feeling after breaking this record as he said, according to Sky Sports: “It was hard not to think about it going into the game being level. As always I wanted to win the game first and foremost, but of course, I wanted to score as a striker. To get that goal early on and get that record was a great feeling and I could enjoy the rest of the game.”Opinion: Martin Odegaard is perfect for the Premier League Tomás Pavel Ibarra Meda – Given how much he’s been rejected by Real Madrid, we are convinced that Martin Odegaard is per上海夜网fect for the Premier League.Martin Odegaard is finally…

He also added that he can feel how he has improved: “This year I would say physically I have improved, recovery from games, getting ready, we have such a busy schedule. Just making sure I’m ready for each game, eating right, recovering right with ice baths. I feel really good. I feel sharp and at my best.”

In the end, Harry Kane also thanked his teammates for making this possible to him: “I said to the lads before the game to try and set me up and they all did that, so I’ll have to take them out to dinner or something. That third goal today was good, the third goal against Burnley I think that summed up how I play with the tackle and then the touch and finish so there’s been some good goals, but hopefully some better ones in 2018.”

Wenger vs Mourinho

Jose Mourinho accused Arsenal manager Arsene Wenger of lying about Alexandre Lacazette’s fitness before the showdown between the Gunners and Manchester United last weekend

The Red Devils coach claimed the Frenchman wasn’t honest about his striker’s fitness, and Wenger felt like he had to hit back.

It was France international Alexandre Lacazette who wasn’t supposed to feature against United on Saturday, as Wenger had previously stated he wasn’t in the right condition to play. Not only has he played, the striker managed to score.

As the former Lyon star’s presence put pressure on Mourinho’s men, he accused Pep Guardiola of being similarly dishonest when the Manchester City coach said David Silva isn’t ready to play on Sunday.

The Manchester United manager took his shot at Wenger and Guardiola during a press conference,上海夜生活论坛 when assessing his injured players after their 2-1 Champions League victory over CSKA Moscow on Tuesday.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…

“The truth is Eric Bailly, no chance for the weekend, Phil Jones a chance, [Marouane] Fellaini a chance, Zlatan [Ibrahimovic] a big chance and [Nemanja] Matic is injured but will play for sure. [Michael] Carrick no chance,” Mourinho said.

“I’m telling the truth, he’s injured but will play for sure. No stories of Lacazette or David Silva. All the truth.”

Once Wenger heard what the Portuguese coach had to say, he couldn’t not comment on the issue, and he replied to Mourinho’s claims during a news conference ahead of Arsenal’s Europa League game against BATE.

“I though he wouldn’t play, yes, but in the end, he could play. What did you want me to do, to leave him at home?” the Frenchman replied.

“I’m always honest and I thought really he wouldn’t play. He had a test on Friday morning and we were not sure he would play. After he tried, and he played. That’s part of football,” Wenger said.

Preview: Monaco – RB Leipzig

Monaco and RB Leipzig are separated by two points at the bottom of Group G. The French team are last, with two points, while their German opponents are third, with four points after four rounds.

Flashscore present the key facts before the match:

AS Monaco have positive statistics facing teams from Germany in Europe’s premier competition with 7 wins, 2 draws and 2 losses.

When RB Leipzig score in the Champions League (CL) it’s mainly the first half – 4 of their 5 goals in this season’s competition have come in the first 45 minutes and overall they haven’t scored after the 48th minute in any CL match.

After reaching the semi-finals in the last CL campaign, Monaco have failed to shine this season. They haven’t manage to win a single match or score more than 1 goal in the 4 games so far (3 goals in total).

In the last 2 CL matches Monaco have even given away a 1-0 lead, with the opponents turning it into a draw and a defeat, respectively.

Leipzig have lost 5 of 10 competitive away matches this season and have conceded 7 out of 10 goals 上海夜生活论坛in the first half.Koulibaly warns about Genk danger Nedim Maric – The reliable Napoli defender, Kalidou Koulibaly warned his team about Genk’s quality as he’s played for the Belgian side in the past.Napoli opened their…

Despite losing both home matches in the CL, Monaco remain a big threat at home in Ligue 1 (P 6 W5 D1) and have scored 21 scored goals. In 4 of those matches they scored at least 3 goals.

Leipzig have conceded 6 goals in the 1st half of their Bundesliga away matches (4 in the 2nd) and that could be handy for Monaco, as the team has already scored 12 goals in the first 45 minutes of their home matches (9 in the 2nd half) in Ligue 1.

It’s not easy to be leading after 45 minutes against Monaco, as the team were only behind on 3 occasions at half-time this season.

Missing players

Monaco: T. Lemar (shoulder injury), D. Sidibe (injury), L. Badiashille (doubtful)

RB Leipzig: S. Ilsanker (toe injury), F. Coltorti (doubtful).

PSG: Mourinho or Allegri to take over

Doesn’t matter how good your team started the season, if you have problems with the world’s most expensive player, that means you could get sacked anytime

Unai Emery’s team has been fantastic this season, as PSG are still unbeaten, having won 16 games while drawing only 2. However, even these stunning numbers could prove less than enough to save the Spaniard’s job in Paris.

There has been a lot of rumours going around about the relationship between the world’s most expensive player Neymar, and the Paris Saint-Germain coach and some say that Emery’s inability to please the Brazilian might cost him a lot.

Despite the former Sevilla coach’s best efforts, he struggles to hide that there is something wrong.

“For me, what happens on the field is the most important thing. All that goes on outside is not the most important. What is important is what happens on the pitch,” Emery protested last week.Ian Wright criticizes Emery for the captain choice Nedim Maric – Manchester United and Arsenal participated in a draw which saw some uninspiring football come to light.Neither Emery of Solskjaer will be pleased with the…

The Spaniard’s job is probably not in immediate danger, as the club’s results are outstanding, but pressure will gather on his shoulders once the Champions League returns in the second half of the season. If PSG fail to reach the round of the last 4, that might be the end of the Emery era.

There are two managers heavily linked with the Ligue 1 leaders. One of them is Jose Mourinho, who is currently the boss of Manchester United, and the other one is Massimiliano Allegri, the head coach of Juventus.

Mourinho is not entirely satisfied with life at Old Trafford, due to a clash of personalities with chairman Ed Woodward, and th上海夜生活网e Special One has already indicated that he can’t see himself at United for a long period of time.

On the other hand, Allegri took Juventus to the Champions League final last season, where they were beaten by Real Madrid. However, he is reportedly a better tactician than Unai Emery is in the eyes of PSG.

If Unai Emery wants to stay the manager in Paris, he needs to keep up the good work and get the expected results for the board.

Guardiola about the Catalonia situation

Guardiola is strongly affected by the situation in Catalonia as it’s his home region and he thinks that it’s “scary” to imprison the Catalan politicians as this huge crisis continues.

Nine ex-minsters from the dissolved Catalan parliament appeared at Spain’s high court on Thursday accused of rebellion, sedition and misuse of public funds.All, with exception of bailed former Business Minister Santi Vila, were detained, while ousted Catalan leader Carles Puigdemont remains in Belgium and was one of five separatist politicians not to answer the summons in Madrid, according to Goal.

The Manchester City coach made a comment about that: “I wish that the politicians who they have put in prison are released soon. I’m worried because what happened to them could happen to us for giving an opinion, it could happen to anyone. The two Jordis leading the Catalan organisation were put in prison for asking to vote in a legal referendum.”Pep Guardiola opens up about Champions League ambitions Nedim Maric – Manchester City and Pep Guardiola are aiming to conquer Europe after two consecutive domestic league titles.The English champions started the league stumbling with a…

He wants the situation to be solved as soon as possible, obviously: “I think the Spanish go上海夜生活网vernment and the Catalan government should sit and talk and try to agree on a referendum for both sides. Until then it’s a really difficult situation to be solved. These politicians are in prison for fulfilling the electoral programme. They were fulfilling the wish of the Catalan people. Now they and their families are suffering this situation. It can happen to other people, to all of us, just for wanting to vote. That was the main desire of the Catalan people.”

Pep Guardiola just wants everything to be resolved fairly: “I just wish that the situation can be resolved soon and these guys can be released and December 21 that there is an election in Catalonia – a fair election where the people can express their wish with freedom. [The election must ] recover the institutions and [make sure] that the Parliament of Catalonia is again what it was.”

Arsenal outcast finally out of the Emirates

Lucas Pérez has finally ended his nightmare spell with the Gunners.

The 28-year-old will join Deportivo La Coruna as he stated he was where he wanted to be after completing a loan move from Arsenal.

The 28-year-old has been looking for a way out throughout the whole summer. While it appeared that Wenger’s side is not willing to accept bids below 15 million pounds for his services, the club from north London finally agreed on a €4m loan deal with no option to buy included.

“I’m where I want to be,” Pérez is quoted as saying by Riazor.org.

“I have a right to decide what is going to happen with my future and what I want to do.

“Arsenal understood that and I’m grateful to them. They understood my situation and the fact that I wanted to return home.Top 5 players to watch in Manchester United vs Arsenal Tomás Pavel Ibarra Meda – Ahead of the most important Premier League match of the weekend, we got the Top 5 players to watch in Man United vs Arsenal.The…

“Arsenal defended their own interests, they initially didn’t want me to return to Deportivo.

“They have reached agreements with many clubs but I clearly told them that my intention was to join Depor and no other alternative.

“I don’t want to give a number but 上海夜网in the last three or four days I spoke to many sporting directors and coaches. But I reiterated that my wish was to return to Deportivo.”

Mbappe chose PSG for first-team opportunities

Kylian Mbappe said that he felt he would have more first-team opportunities at PSG than at Real Madrid.

The young forward was disputed this summer by Real Madrid and PSG, but eventually he chose to remain in France and sign with the Parisians. Now he revealed that the main reason behind his choice was the prospect of playing regularly in the first team: “I felt that at PSG, I would have more opportunities to play than at Real Madrid.”

Speaking to L’Equipe, the 18-year-old also revealed that he held discussions with Manchester City boss, Pep Guardiola, but eventually turned down a move to England: “Guardiola is a coach who breathes football, he won everywhere and he transmits passion and makes you want to play. Drogba tips for Neymar and Mbappe to win Ballon d’Or one day Nedim Maric – One of the best strikers in the Premier League era talked about PSG’s sensational duo and their chances of winning individual awards in the…

When I spoke with him, he explained how he would use me in his tactical system. But I did not say no to Guardiola, I said no to Manchester City.”

Although he eventually switched to Ligue 1 rivals PSG, Mbappe said that he had no intention of leaving Monaco at the end of last season, when they won the title: “I had no intention of leaving Monaco at the end of the season, but things happened and I decided to change my mind and I’ll take the time to explain it later.”

Th上海夜生活论坛e 18-year-old is now looking forward to win trophies with his new team and has set his sights on Champions League: “I dream of winning the Champions League this year, it’s easy to say in September, but what counts is to be able to say it in February. We have a great team on paper, now we’ll have to prove it on the pitch.”

Luis Enrique: Messi makes the difference when he\u2019s at home eating dinner

Messi’s brilliance is getting hard to describe with words for Luis Enrique who was happy with the win at BernabéuWritten by Christian Møller Poulsen. April 24, 2017

The Barcelona coach was obviously delighted with the performance of his team in yesterday’s game, but he pointed out that there still was a long way to go to win the title.

Barcelona is currently number one in La Liga, but Real Madrid have a game in hand against Celta Vigo.

Enrique spoke of the game between two great teams, and he felt that it could have gone either way. According to Sport, Enrique said: “The game had a high rhythm, it was uncontrollable at times, as both teams had played in the Champions League. It was a game which demanded a lot physically and mentally. the win is a huge morale boost and it will be a Sant Jordi well celebrated in Catalonia and remembered for many years.”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…

The coach was then asked about Lionel Messi, and the Asturian coach said the following: “he even makes a difference when he’s at home having dinner. He’s the best of all time and I have seen a lot of games of football – and videos. Now the people are better prepared and he makes the difference. And this was his 500th goal!”

“Just imagine, his 500th goal coming here, a winner in the 92nd minute at the Santiago Bernabeu.上海夜网 It’s very nice for Leo and it’s nice for everyone associated with Barca.”

Luis Enrique added: “He allowed us to have superiority in midfield, we wanted him on ball as often as possible. It was more difficult in the middle with lots of bodies in there, but he managed to do it for the first goal. It went as we’d hoped.”

IMF stands by yuan view; says China could need stimulus if trade war worsens

WASHINGTON ( ) – The International Monetary Fund on Friday stood by its assessment that the value of China’s yuan was largely in line with economic fundamentals, but an IMF official said the fund was encouraging China to pursue a more flexible exchange rate with less intervention.

James Daniel, director of the IMF’s China department, said that an assessment of China’s economic policies found the yuan exchange rate in 2018 to be “not significantly over-valued or under-valued.”

The IMF’s views on the yuan are at odds with those of its largest shareholder, the United States, which this week declared China a “currency manipulator” after it allowed the yuan to slip below 7 to the dollar to 11-year lows.

U.S. Treasury Secretary Steven Mnuchin is seeking to engage the IMF to help “correct” an unfair trade advantage from Beijing’s currency actions, but Daniel declined to say how the IMF was responding to the request.

“Our discussions with the U.S. Treasury are ongoing on a range of issues,” Daniel told reporters on a conference call, echoing an earlier statement from an IMF spokesperson.

The IMF said in the report that a worsening of trade tensions with the United States could put China’s economic and financial stability at risk, making new fiscal stimulus measures from the government warranted.

The IMF said if the United States were to impose 25% tariffs on a remaining $300 billion list of Chinese imports, this would reduce China’s growth by around 0.8 percentage points over the following 12 months, driven by a sharp fall in demand and a tightening of financial conditions. Negative global spillovers could be significant, it added.

Daniel said that a 10% tariff on this category of goods — as U.S. President Donald Trump intends to impose on Sept. 1 — could result in a 0.3 percentage point cut to growth.

Weighed down by weak demand at home and abroad, China’s growth slowed to 6.2% in the second quarter, a near 30-year low.

More exchange rate flexibility could help China deal with these external pressures, freeing up monetary policy to deal with domestic demand conditions, Daniel said.

He also said the IMF was pressing Chi上海夜生活na for structural reforms to its economy, including opening more sectors to foreign competition and reducing the role of the state in certain industry — goals also broadly sought by the Trump administration.

“We see continued rebalancing and opening up by China and increased exchange rate flexibility as being in China’s own interests and also benefiting the global economy.”

IMF directors in a statement agreed with staff assessments that China’s external position in 2018 was broadly in line with fundamentals.

But they also called for more transparency in China’s exchange rate policies, the IMF said, with some seeking disclosures of China’s foreign exchange market interventions.

Trump delays tariffs on Chinese cellphones, laptops, toys; markets jump

WASHINGTON ( ) – U.S. President Donald Trump on Tuesday backed off his Sept. 1 deadline for 10% tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, in the hopes of blunting their impact on U.S. holiday sales.

The delay which, affects about half of the $300 上海夜生活billion target list of Chinese goods – along with news of renewed trade discussions between U.S. and Chinese officials – sent stocks sharply higher and drew cautious relief from retailers and technology groups.

Trump’s 10% tariffs will be effective from Dec. 15 for thousands of products including clothing and footwear, possibly buttressing the holiday selling season from some of the fallout from the protracted trade spat between the world’s two largest economies.

“We’re doing this for Christmas season, just in case some of the tariffs would have an impact on U.S. customers,” Trump told reporters in New Jersey. “Just in case they might have an impact on people, what we’ve done is we’ve delayed it so that they won’t be relevant to the Christmas shopping season.”

The U.S. Trade Representative’s Office announced the decision just minutes after China’s Ministry of Commerce said Vice Premier Liu He conducted a phone call with U.S. trade officials.

Liu agreed with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to speak again by phone within the next two weeks, the ministry said.

Trump has said the two sides may still meet in early September as scheduled.

Related CoverageApple’s AirPods will not escape Trump’s China tariffsAPPLE SHINES

The delay in tariffs on a substantial portion of a $300 billion list of remaining Chinese imports sent U.S. stocks surging, after steep losses in the past week, with the Standard & Poor’s 500 .SPX up 1.5% and the Nasdaq Composite .IXIC gaining nearly 2%.

Shares of market bellwether Apple Inc (AAPL.O) soared 4.2% on news that its core iPhone, tablet and laptop computer products would be spared from tariffs for the time being.

But the Trump administration still plans to impose 10% tariffs on thousands of Chinese food, clothing and other consumer electronics products beginning Sept. 1.

Among these are Chinese-made smartwatches from Apple and Fitbit (FIT.N), smart speakers from Amazon.com Inc AMZN., Google (GOOGL.O) and Apple, and Bluetooth headphones and other devices, a category estimated at $17.9 billion last year by the Consumer Technology Association.

Flat screen televisions from China, a category worth $4.5 billion, also will face 10% tariffs on Sept. 1 after being spared from Trump’s first round of tariffs more than a year ago.

Live animals, dairy products, skis, golf balls, contact lenses, lithium ion batteries and snowblowers will also get tariffs on Sept. 1

A trade group representative said USTR informed them that it opted to delay tariffs on items where China supplies more than 75 percent of total U.S. imports. Product categories where China supplies less than 75 percent will still face tariffs on Sept. 1, the representative said, speaking on condition of anonymity because the information was not publicly released.

According to U.S. Census data, China supplied 82 percent of U.S. cell phones and 94.5 percent of U.S. laptops in 2018.

Based on a analysis, the delay could extend to around half of the $300 billion list of remaining Chinese imports. Chinese imports subject to the tariffs on Dec. 15 totaled about $156 billion last year, according U.S. Census bureau data.

While most retailers would have stocked their holiday merchandise before the September deadline, some might have faced the tariffs for fill-in orders late in the holiday shopping season.

Still, the Retail Industry Leaders Association said “removing some products from the list and delaying additional 10% tariffs on other products, such as toys, consumer electronics, apparel and footwear, until Dec. 15 is welcome news as it will mitigate some pain for consumers through the holiday season.”

The Consumer Technology Association applauded the delay on some items, but added: “Next month, we’ll begin to pay more for some of our favorite tech devices – including TVs, smart speakers and desktop computers. The administration should permanently remove these harmful tariffs and find another way to hold China accountable for its unfair trading practices.”

The 21-page-list of products that will not get hit with tariffs until December also includes baby monitors and strollers, microwaves, instant print cameras, doorbells, high chairs, musical instruments, ketchup dispensers, baby diapers, fireworks, sleeping bags, nativity scenes, fishing reels, paint rollers and food products.

A separate group of products will be removed from the tariff list altogether, the USTR said, “based on health, safety, national security and other factors.” It did not immediately identify these items.

Trump announced the Sept. 1 tariffs less than two weeks ago, blaming China for not following through on promises to buy more American agricultural products during talks in Shanghai at the end of July. That move was met with a drop in China’s yuan currency a few days later, prompting the Trump administration to declare Beijing a currency manipulator and sending markets tumbling for several days last week.

Since Trump’s Aug. 1 tweets announcing the new tariffs, the U.S. benchmark S&P stock index has dropped more than 4%.

The tariff delay, combined with renewed talks with China, suggest Trump may be willing to compromise.

In a sign the administration may be expecting something in return, Trump tweeted on Tuesday: “As usual, China said they were going to be buying ‘big’ from our great American Farmers. So far they have not done what they said. Maybe this will be different!” Trump tweeted.

Trump’s tariff delay comes amid growing concerns about a global economic slowdown. Goldman Sachs said on Sunday fears of the U.S.-China trade war leading to a recession were increasing and Goldman no longer expects a trade deal between the two countries before the 2020 U.S. presidential election.

Trump has also personally criticized Chinese President Xi Jinping for failing to do more to stem sales of the synthetic opioid fentanyl amid an opioid overdosing crisis in the United States.

The USTR office plans to conduct an exclusion process that could allow more items to be removed from the 10% tariff list.

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.

Stocks rise on trade hopes, sterling slips on Brexit jitters

NEW YORK ( ) – U.S. stocks added to their gains on Tuesday following news of potential progress in U.S.-China trade negotiations, while the pound fell after Brexit hard-liner Boris Johnson won the leadership of Britain’s Conservative Party, clearing the way for him to become prime minister.

A host of strong earnings gave U.S. stock indexes an early boost, with Dow components Coca-Cola Co and United Technologies Corp both beating second-quarter earnings estimates.

Stocks extended their gains on reports that U.S. negotiators were headed to China on Monday for face-to-face trade talks, a sign of potential progress in the two countries’ prolonged, acrimonious tariff spat.

“Company reports have been very good on the whole, but revenue numbers have missed the mark and on conference calls they’re highlighting trade as an issue,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

“Trade has been holding down stocks. If we’re able to resolve it, you’ll see a pickup in global growth.”

U.S.-China trade tensions, along with the prospect of Britain exiting the European Union, or Brexit, without a deal, were cited by the International Monetary Fund as reasons it cut its global growth forecast through 2020.

The Dow Jones Industrial Average rose 177.29 points, or 0.65%, to 27,349.19, the S&P 500 gained 2上海夜生活0.44 points, or 0.68%, to 3,005.47 and the Nasdaq Composite added 47.27 points, or 0.58%, to 8,251.40.

The European STOXX 600 benchmark rose about 1%, helped by a 6% surge in automakers and growing certainties of policy easing from the European Central Bank and the U.S. Federal Reserve.

The pan-European STOXX 600 index rose 0.98% and MSCI’s gauge of stocks across the globe gained 0.48%.

The dollar advanced to a near five-week high against a basket of world currencies, on the heels of a congressional deal to extend the U.S. debt limit for two years, easing fears of a government default.

But the British pound lost ground after Johnson, who has promised to lead Britain out of the European Union with or without a deal by the end of October, won the Conservative Party leadership and will replace Theresa May as the country’s prime minister.

“It’s going to take some time before we can assess (Johnson’s) negotiating skills and what type of deal he’s going to push for,” added Nolte.

The dollar index rose 0.49%, with the euro down 0.55% to $1.1146.

The pound was last trading at $1.2435, down 0.31% on the day.

Crude prices rose late in the session following reports that the United States may have shot down a second Iranian drone, adding to escalating Middle East tensions.

U.S. crude oil futures settled at $56.77 per barrel, up 1%, while Brent Crude futures settled at $63.83 per barrel, up 0.9% on the day.

U.S. Treasury yields inched higher on renewed trade optimism, and as market participants eyed expected interest rate cuts from ECB and Federal Reserve.

“The dollar and Treasury yields quickly picked up as it became a risk-on afternoon,” added Nolte.

Benchmark 10-year notes last fell 9/32 in price to yield 2.0724%, from 2.043% late on Monday.

The 30-year bond last fell 26/32 in price to yield 2.6069%, from 2.57% late on Monday.

Spot gold prices dropped 0.5% to $1,417.02 an ounce as the safe-haven metal was held in check by a robust dollar.

Ex-Trump aide Manafort charged with mortgage fraud in New York

NEW YORK ( ) – Paul Manafort has been charged in New York with residential mortgage fraud and other felonies, as state lawmakers move to ensure that U.S. President Donald Trump’s former campaign chairman can be prosecuted even if he receives a presidential pardon.

The 16-count indictment was announced by Manhattan District Attorney Cyrus Vance on Wednesday less than an hour after Manafort, 69, was given his second federal prison sentence this month, for a combined term of 7-1/2 years.

“No one is beyond the law in New York,” and the state probe “yielded serious criminal charges for which the defendant has not been held accountable,” Vance, a Democrat, said in a statement.

Manafort was sentenced on Wednesday by U.S. District Judge Amy Berman Jackson in Washington to about 3-1/2 additional years in prison on conspiracy charges from Special Counsel Robert Mueller’s probe into Russia’s role in the 2016 U.S. presidential election.

That sentence came after Manafort was sentenced by another judge last Thursday in Virginia to nearly four years in prison, following his conviction last August on tax evasion and bank fraud charges related to the Mueller probe.

Trump has denied colluding with Moscow. The Kremlin has denied election interference.

Kevin Downing, a lawyer for Manafort, had no comment on the New York case following his client’s sentencing by Jackson.

Rudolph Giuliani, a lawyer for the Republican president and New York City’s former mayor, in a text message called the indictment an “irrational attempt” by Democrats to advance their political agenda.

Vance said the charges in the March 7 indictment related to a year-long scheme in which Manafort and others falsified records to obtain millions of dollars related to property loans.

Manafort faces up to 25 years in prison on the three most serious charges in the latest indictment, residential mortgage fraud in the first degree.

Some charges appeared to relate to testimony in Manafort’s Virginia trial including his alleged effort to disclaim a big American Express bill for season tickets to New York Yankees baseball games to help him qualify for loans.

CHECKS AND BALANCES

It is unclear whether Manafort’s indictment will be challenged on double jeopardy grounds, the doctrine against prosecuting a person twice for the same offense.

Legislation being proposed this week in New York’s state capital of Albany may prevent that from being an issue.

Trump in November said he had not ruled out giving Manafort a pardon. On Wednesday, he said “I have not even given it a thought,” but that he felt “badly” for Manafort.

Presidents possess the power to issue pardons for federal crimes, not state crimes. New York has stronger double jeopardy protections than the U.S. Constitution, which could impede state prosecutions.

A bill proposed by former state attorney general Eric Schneiderman to lessen those protections died last year when control of the state legislature was effectively divided between Democrats and Republicans.

Democrats now have full control, and Assemblyman Joseph Lentol is co-sponsoring joint legislation this week to end such protections for people with what he called “close ties” to the White House, the president and his campaign.

Lentol, a Democrat, said in an interview that this would ensure that Vance, state Attorney General Letitia James and other prosecutors could pursue cases such as Manafort’s.

He said a bill could be ready for Democratic Go上海夜生活论坛vernor Andrew Cuomo’s signature as soon as next week.

“There are people associated with the president who may have committed crimes that should not go unpunished,” Lentol said. “It’s a wise thing to have some sort of a mechanism in our law to act as a check and balance on the presidential power to pardon.”

Exclusive: Chevron Phillips Chemical in bid to acquire Nova…

( ) – ​Chevron Phillips Chemical Company, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on Thursday.

Chevron Phillips Chemical, one of the world’s top petrochemical producers, would gain scale and expand its footprint through the acquisition of Nova Chemicals, whose expandable polystyrene and resins are used in a range of industries, from construction to packaging.

Abu Dhabi’s sovereign wealth fund Mubadala Investment Co, the owner上海夜网 of Nova Chemicals, has been exploring a sale of the Canadian plastics maker since the start of the year, and there is no certainty that it will accept the offer from ​Chevron Phillips Chemical, the sources said.

Another bidder for Nova Chemicals may yet emerge, some of the sources added. Mubadala could also decide to keep a stake in Nova Chemicals in a deal, one of the sources added.

The sources asked not to be identified because the negotiations are confidential. Nova Chemicals, Mubadala, Chevron and Phillips 66 did not immediately respond to requests for comment.

Headquartered in Calgary, Nova Chemicals was founded in 1954. Over the years, it has diversified its business beyond foam packaging and insulation to foam beverage cups and containers.

Nova Chemicals reported earnings before interest, taxes, depreciation and amortization of $271 million in the first three months of 2019, down from $418 million a year earlier, according to its website.

Abu Dhabi acquired Nova Chemicals for $500 million in 2009 using its stated-owned International Petroleum Investment Co (IPIC), saving it from a financing restructuring due to its large debt. Since then, the company’s business has grown rapidly, taking advantage of the shale-driven natural resources boom in North America.

Two years ago, Abu Dhabi merged IPIC with Mubadala, which manages over $225 billion in assets. The emirate has looked into consolidating its holdings and retrenching from some overseas businesses.

Founded in 2000, Chevron Phillips Chemical has 31 production facilities located in the United States, Singapore, Saudi Arabia, Qatar and Belgium. It had total revenue last year of $12 billion, according to its website.