About the authorCarlos VolcanoShare the loveHave your say AC Milan goalkeeper Donnarumma: We’re a beautiful groupby Carlos Volcanoa month agoSend to a friendShare the loveAC Milan goalkeeper Gigi Donnarumma says they’re ready for the derby against Inter Milan.Milan have won two of their first three games under coach Marco Giampaolo.Donnarumma said: “We’re a beautiful group. With a new Coach it’s normal to have some difficulty at the beginning, but we’re working well.“We’ve picked up two wins from three, not playing very well, but winning helps us win more and slowly we’re getting to grips with our game.“A derby goes over everything else, it’s a game that prepares itself and gives out a lot of energy and emotion. Playing the derby is a unique satisfaction.“Samir [Handanovic] is a very good lad and a great goalkeeper, I like how he attacks the ball, plus we know all his other qualities.“With D’Ambrosio I have a beautiful relationship, he’s my compatriot and he also lives near me. I’ll surely cross him.”
About the authorFreddie TaylorShare the loveHave your say Hendrick admits no Europa League has helped Burnleyby Freddie Taylor11 days agoSend to a friendShare the loveBurnley midfielder Jeff Hendrick has admitted that not needing to play in the Europa League is helping his side.The Clarets struggled last season as they had to cope with additional European games.It caused them to have a very poor start to the season, which lead to a relegation battle for much of the campaign.But they have started brighter this term, and Hendrick thinks he knows why.”We’ve progressed but I think last year was a bit different,” the midfielder told reporters.”I know it was frustrating for us as players and maybe the fans, staff and everyone.”At the start of the season, with the games we had, it was difficult, it was tiring.”I was talking to my friend at Wolves when we played them and I said, ‘How are you getting on with the European football?’ and he just said he’s constantly tired.”Without even knowing, the travelling does take it out of you and that’s what happened with us last year.”Even when we were out of that, we tried to pick the performances up, but it didn’t work.”Eventually we sat down, we all got on the same track and the performances started to pick up and we got some points on the board, which we did need at the back end of last year.”
In Thursday’s first contest of the second round of the NCAA Tournament, No. 3 seed Notre Dame held off a wild rally from No. 14 seed Northeastern to prevail, 69-65. The Irish, more known for their offensive prowess, had to lock down defensively on the Huskies’ final possession to eke out the victory. Following the game, head coach Mike Brey kicked off his locker room speech by clarifying just how important a victory it was for the team.Here’s a clip from our locker room after our 2nd-round NCAA win. Stay tuned to @WatchND for full video. #NotDoneYet pic.twitter.com/5a1HuQW7Uz— Notre Dame MBB (@NDmbb) March 19, 2015Notre Dame has had a tough time advancing in the NCAA Tournament over the years, so this was a big hump for the program. How far can the Irish go?
zoomIllustration. Image Courtesy: Pexels under CC0 Creative Commons license Dry bulk specialists Genco Shipping & Trading Limited confirmed that it signed an agreement for the purchase of four drybulk vessels. Under the deal, signed on June 6, the company is to pay around USD 141 million for the vessels using the proceeds of a new stock offering and cash on hand.The ships in question are two 180,000 dwt Capesize units, both of which were constructed in 2015 at Chinese shipyards, and two Ultramaxes of 60,000 dwt and 61,000 dwt, built in 2016 and 2014, respectively.Genco Shipping said that, depending on debt market conditions, it intends to seek commercial bank debt financing to return a portion of the purchase price to for these vessels and to finance or refinance a portion of potential future vessel acquisitions.On June 14, the company commenced a public offering of common stock to fund future fleet expansion.“While we do not currently have an agreement to purchase vessels in addition to the four mentioned above, we currently plan to target the acquisition of two additional modern, high specification Capesize vessels with such borrowings,” the company added.The deal comes on the back of a five-year senior secured credit facility signed on May 31, 2018, for an aggregate principal amount of up to USD 460 million.On June 5, 2018, the proceeds were used, together with cash on hand, to refinance all of the company’s prior credit facilities and pay down the debt on seven of the company’s oldest vessels.
zoomImage Courtesy: Klaveness Norway-based shipowner Klaveness Combination Carriers (KCC) ended the second quarter of this year with a net loss.The company suffered a net loss of USD 1.9 million in Q2 2019, against a net income of USD 3.2 million seen in Q2 2018.Net revenues from operations of vessels stood at USD 12.6 million in the second quarter of this year, decreasing from USD 14.4 million posted in the corresponding period a year earlier.As explained, earnings were negatively impacted by fewer days in the main CABU combination trades due to a temporary lower number of caustic soda contract cargoes. What is more, the historically weak dry bulk market during Q1 2019 and early part of Q2 2019 had negative earnings effect on performing dry voyages in the second quarter.However, despite seasonally low caustic soda volumes, CABU fleet continues to deliver earnings well above the standard markets with earnings 1.3 times the MR-tanker market, KCC said.Following the delivery in January, the first CLEANBU vessel, MV Baru, has been phased in after the completion of guarantee works in mid-April. It completed its first clean petroleum cargo from India to Singapore as a regular tanker vessel in mid-May and started combination trading at the end of May with the fixture of a CPP cargo from India to Argentina. After discharging CPP in Argentina, Baru recently completed the first switch from tanker to dry bulk mode.The concluded earnings of the estimated round voyage of 144 days are around USD 20,000/day, 1.5 times a standard LR1 tanker, according to the company.“We are pleased to report the successful first CLEANBU wet-dry combination voyage with earnings 1.5 times the standard market, proving the superior earnings capacity of our new CLEANBUs,” Engebret Dahm, CEO of Klaveness Combination Carriers ASA, commented.“While the CABU fleet continues to perform well in the second quarter, KCC’s results reflect ‘one-off introduction costs’ for the CLEANBUs which are expected to be substantially reduced over the coming quarters.”“Both CABU and CLEANBU earnings are expected to considerably improve in second half of 2019 based on higher caustic soda contract booking and more CLEANBUs in combination trading,” Dahm continued.The second CLEANBU, MV Barracuda, was delivered in late July and completed first loading as a tanker for shipment of caustic soda in Taiwan on August 23. It is now scheduled to start combination trading in mid-September. The third CLEANBU is expected to be handed over in September and targeted to start combination trading within end of October.KCC currently has six CLEANBUs on order for delivery from September 2019 to February 2021. The combination carriers are designed to transport clean petroleum products in addition to caustic soda and dry bulk products.
Los Angeles: Veteran actor Judi Dench says she is “allergic” to watching her own films. The 84-year-old star said if she saw her movies, she would get “irritated” by her acting and start judging her performance. “I’m so allergic to seeing myself… I don’t see myself on film. When I do, I’m terribly conscious of what I chose to do and not to do in a moment. And I always am irritated,” Dench told USA Today. She, however, added, “I like to watch it quite a long time afterwards when I have forgotten all the questions I had to ask myself in the moment. So I can look at it much more dispassionately.” Dench admitted she has not seen her 1985 classic Room With A View. The film, directed by James Ivory, written by Ruth Prawer Jhabvala and produced by Ismail Merchant.
Lucknow: BSP president Mayawati Monday asked why the Election Commission was not cancelling the nomination of Pragya Singh Thakur, the Bharatiya Janata Party candidate from Bhopal, despite the “BJP ratna” issuing controversial statements. “Malegoan blast case accused and BJP candidate from Bhopal Sadhvi Pragya is claiming that she is contesting a ‘dharm yuddh’. This is the real face of BJP/RSS which is being exposed continuously. But why is the Commission only issuing notices and not cancelling the nomination of BJP ratna (gem) Pragya?” Mayawati tweeted. Also Read – India gets first tranche of Swiss bank a/c details “If the Election Commission is not able to work in an impartial manner to the satisfaction of people despite severe criticism in the media, it is an issue of grave concern for democracy and no one else but BJP and PM Modi, who are surrounded by serious electoral allegations.” Thakur is out on bail in the Malegaon blast case of 2008. She is under fire for saying that Hemant Karkare died during the 26/11 terror attacks because she had cursed him for “torturing” her in custody when he probed the Malegaon blast as Maharashtra Anti-Terrorism Squad chief. Also Read – Tourists to be allowed in J&K from Thursday The BJP candidate from Bhopal retracted the statement after it drew severe criticism. Six people were killed and over 100 injured when an explosive device strapped on a motorcycle went off near a mosque in Malegaon, a town about 200 km from here in north Maharashtra, on September 29, 2008. Thakur has also said she was “proud” of her participation in demolition of the Babri Masjid in Ayodhya. The Election Commission has issued a show-cause notice to her. On Monday in Kolkata, BJP national president Amit Shah defended his party’s decision to field Thakur as its Lok Sabha candidate, saying allegations against her are false and the real culprits in the Malegaon blast case have evaded the law.
Members from all three branches of government were caught up in the Bolaños scandal: one magistrate from the CSJ and the attorney general were dismissed, as well as the manager and board of directors in charge of the Bank of Costa Rica. The Vice Minister of Finance was also forced to resign.The four judges were investigated after a report that they irregularly exonerated the now former legislators Otto Guevara and Víctor Morales Zapata, who were facing influence peddling charges related to Bolaños.A judicial police report documented hundreds of phone calls between the two legislators and the Chinese cement importer, but the judges ignored the document.Twelve members of the full court argued in favor of sanctioning their colleagues for “serious misconduct,” which would involve them being dismissed from their spot on the court. Such a measure would require votes from two-thirds of the magistrates, however, which comes out to 15 votes. Facebook Comments Related posts:Supreme Court president steps down amid corruption scandal Is your candidate under investigation? Public Security minister says he’ll resign if not given more funds for policing Prosecutors requests six months of prison for seven cement case detainees Costa Rican prosecutors raid Emergency Commission office Four judges from Costa Rica’s Supreme Court (CSJ) were reprimanded for “serious misconduct” after dismissing a case against legislators related to influence peddling in the Chinese cement case known as the ‘cementazo.’Carlos Chinchilla, president of the CSJ, is among the sanctioned judges along with his colleagues Jesús Ramírez, Doris Arias and María Elena Gómez, members of the criminal wing of the court.The four judges were reprimanded after they dismissed a case against two legislators who had been pointed out for collaborating with Juan Carlos Bolaños, the businessman at the epicenter of the cementazo scandal.Bolaños, who is being held in preventive detention, is reported to have used political pressure and offered perks in exchange for the authorization to import Chinese cement with millions of dollars worth of unguaranteed credit from public banks.
The BBC is launching a new red button connected TV service.The UK public broadcaster’s Connected Red Button service will launch initially on cable operator Virgin Media’s TiVo service before rolling out to other internet-connected TVs over the coming months.The service will enable users to watch programmes from BBC children’s channels, BBC Three and BBC Four at anytime, even if the channel is off-air. Users will also be able to catch up on previous episodes from other channels and access additional sports streams, clips and content from various events. News and weather headlines and clips will also be available.Daniel Danker, general manager, BBC programmes and on-demand, said, “With today’s launch of BBC Connected Red Button, the BBC is seamlessly bringing the internet together with live TV, while making the technology completely invisible. This is red button reinvented, and the beginning of the exciting future of television.”Cindy Rose, Virgin Media executive director of digital entertainment, said, “The BBC understands as passionately as we do how important connected television is for home entertainment. We’re delighted the BBC is working with us to launch another milestone in interactive services. Our commitment to this partnership of innovation means Virgin Media TiVo customers are the first to experience the latest interactive services at the press of a button.”
Facebook-owned photo-sharing network Instagram has added video functionality to its service, allowing users to share video clips for the first time. Instagram users can now choose to capture videos of up to 15 seconds and choose from 13 filters to give the clips a distinctive look – the major draw for its still image service.“Over the past two and a half years, Instagram has become a community where you can capture and share the world’s moments simply and beautifully. Some moments, however, need more than a static image to come to life. Until now these stories have been missing from Instagram,” said Instagram co-founder Kevin Systrom.The update follows Facebook’s US$1 billion (€756 million) buyout of Instagram last year and will put Facebook in competition with Twitter’s Vine service – another video sharing app that lets users take six-second looping video clips.
In This Issue… * The dollar was king for another day * South African sales disappoint * Norway reduces rates * Gold and silver took another hit And, Now, Today’s Pfennig For Your Thoughts! Fed spillover effect… Good day…and welcome to another Thursday. We saw another summer like day here in the Midwest that lends itself to throwing the winter coat toward the back of the closet and forgetting about it until next winter. While it’s still way too early to take such drastic action, investors have seemingly thrown the debt problems and other fundamental concerns about the US economy to the back of the closet, hidden under that shirt you got as a birthday gift years ago that was never returned. Saying goodbye to my winter attire isn’t the wisest decision, but it’s definitely tempting. It appears the markets were looking for any type of excuse to jump on the US bandwagon and see how far it would take them. We didn’t see any remnants of the choppy trading pattern from Tuesday, so it was an all out rout by the dollar from the time we fired up the currency screens in the morning until we left for the evening. Did we have any reports that would have sent the dollar into orbit yesterday? No, not really. The party that began yesterday after the Fed meeting was still going full force and was still celebrating their upbeat outlook. I’m always up for a good party, but when you see that guy who over-indulged on punch running around with a lampshade on his head, you know it won’t be long before things start to wind down. When that guy comes out of the woodwork is anyone’s guess, but it’s usually just a matter of time. I think the same can be said with this dollar strength. The markets have such a short term memory these days that going from one extreme to the other isn’t outside the norm and investors have no problem bailing mid stream. It’s just something to keep in the back or your mind while dealing with this market volatility. We only saw a handful of economic reports yesterday, which included weekly mortgage applications, the import price index, and the 4th quarter current account balance. The mortgage app figures are considered secondary and very volatile, but nonetheless, it did fall 2.4%. I don’t know if you’ve paid much attention to the bond yields, but they have really shot up recently so that doesn’t spell good news for those looking to refinance or buy a home. Bond yields have been all over the place as well, with the 10 year sitting on a four month high, but it wouldn’t surprise me to see them turn on a dime. I’m sure the Fed isn’t exactly thrilled to see them jump over 27% since the end of January. Finally, we had the 4th quarter current account deficit grow to $124.1 billion and marked the biggest shortfall in three years. The balance for 2011 widened to $473.4 billion, or 3.1% of GDP, and came in much higher than the estimated $115 billion figure. If we do see the type of increased expansion that investors have been hanging their hat on over the past few days, then I would expect to see this number continue to rise. We have a full day in the data department today as there are a couple of regional manufacturing reports, wholesale inflation, and the TIC flows from January. I don’t think the market will pay much attention to those, but the only wild card that I can see would be the weekly jobs numbers. If we see a better than expected result, investors may feel vindicated on their rosier outlook and continue to party on with the dollar. I haven’t seen much that would indicate a sharp rise, but if the report disappoints, we could see things settle down a bit. Speaking of jobs, Chuck sent this tidbit while he was sitting in the airport yesterday morning. “I saw this in today’s post…Talk about the book cookers coming clean! The BLS originally said that St Louis had created 2,500 jobs in 2011… And the civic leaders were gushing, slapping each other on the back for the “job well done” Well… A funny thing happened on the way to the forum…The BLS now has revised the numbers to show that St. Louis actually lost 3,900 jobs instead!!!! Ok I’ve heard of revisions but by this wide of a percentage margin? Oh… And this was reported on the back pages of the paper, hidden away in a corner hoping that no one would see it! But I did!” Thanks again for the info, Chuck. Seeing a report like that is so frustrating. Investors use this type of information to make important decisions not only in real time but also in regard to the future, so it’s no wonder we see market volatility on the rise. Anyway, let’s move on the currency market before my blood pressure begins to rise. While the dollar rose against every single major currency, except for the Indian rupee, a good portion of them took a sizable fall. The worst of the worst, which included both the Norwegian krone and South African rand, got caught with a stiff right jab as they were sitting on 2%+ losses for most of the day. The general optimism surrounding the US economy set the wheels in motion, but economic reports released in each country sent them over the edge and battling for last place throughout the day. Beginning with South Africa, retail sales growth rose at the slowest pace in six months as it fell to 3.9% in January from the previous reading of 8.7%. The rise in January inflation to a two year high was blamed for a majority of the slowdown as rising food, fuel, and utility prices kept a lid on consumer spending. This goes along with what I was talking about yesterday regarding fuel prices in the US and potentially impacting future retail sales figures if consumers are forced to pay more at the pump. The domestic retail industry has played a major role in the economy over the past year so it’s much larger than expected fall led some investors to believe a rate cut might be needed at some point. Interest rates have remained near record lows since November 2010, when they cut to the current 5.5%, but any rate cuts would send investors packing as the interest rate differential has been the primary motivation to own rand. The $40 drop in gold prices didn’t help out either, but there was also speculation the South African central bank has been in the market buying dollars at an increased rate. The Norwegian krone fell to a 5 week low against the dollar and fell by the most in six months against the euro as Norges Bank, their central bank, unexpectedly cut interest rates by .25% to 1.5%. The krone was already in the hole to start the day as economists were just expecting to see a downward revision to their rate forecast, but the decision to actually move took many by surprise. The currency fell nearly 1.5% in a couple of hours and ended the day with over a 2% loss. Coupled with the .5% cut in December and continued government concern of a strong currency, the market took this cut to heart. Policy makers are in a tough spot. The higher krone has been spurred by the economy’s relatively solid fundamentals. If it wasn’t an escape from the eurozone to a neighboring AAA rated country, it was economic resilience underpinned by the oil industry attracting investors from all over the world. We have recently seen improvement in both manufacturing and consumer confidence reports, so it’s not like a poorly performing economy justified the cut. In fact, the already low internal interest rate environment has given rise to the housing and domestic credit markets, so this move will just feed the fire. The Norwegian government has long been critical of its disproportionate currency appreciation compared to the euro as most of their trade is with the eurozone. The stronger krone has kept inflation in the background, so the central bank would rather give manufacturers some breathing room by cutting rates and lessening the appeal to investors seeking yield than worry about the impact of easy money. It’s a delicate balancing act as the krone was trading at a nine year high versus the euro, but I have confidence policy makers have the ability to remain on the tight rope without falling. Well, it wasn’t a pretty picture on the currency screens as I was on my way home last night. The only currency that went against the grain, interestingly enough, was the Indian rupee. From what I could find, it looked as though investors were pleased with the lower than expected report of manufacturing inflation. This report fueled speculation the central bank would have some scope to cut interest rates in order to help bolster economic growth. Also, real returns for foreign investors were being eaten up by the higher inflation so thoughts of higher capital inflows were on the table. The reasons for rate cuts were obviously different, but the market reaction to the cut in Norway certainly wasn’t positive. Both gold and silver took another hit as speculation for QE3 hopped in the back seat after the Fed meeting. Gold fell another 1.5% to $1645 and silver was trying to hold onto the $32 handle when all was said and done. Even though both metals have seen a reduction in buying, silver is still up 15% so far this year and gold has seen a rise of about 5%. If the Fed doesn’t end up taking additional measures, the damage has already been done as far as the previous influx of capital into the market in the form of QE1 and QE2. The same rationale was being applied to the market perceptions of most currencies, in that, if the Fed doesn’t pump more dollars into circulation then a systemic reason for a weak dollar has been removed. I think most rational investors can look past this as being a motivation for buying the dollar. The fundamentals that have applied constant pressure on the dollar over the past several years are still present, if not worse, so looking long term paints a different picture than what has been portrayed this week. As I came in this morning, the dollar buying frenzy has finally subsided as the only currency in negative territory is the pound sterling. The currency is only sitting on a fractional loss at the moment, but Fitch ratings was at it again by changing Britain’s outlook to negative from stable and threatening its AAA status. They went on to say the decision reflects the very limited fiscal space to absorb further economic shocks in light of such elevated debt levels and a potentially weaker than currently forecast economic recovery. Then there was this…Goldman Sachs shares plummeted 3.4% on Wednesday, cutting its market value by $2.15 billion, after The New York Times published an article by a Goldman executive criticizing the firm’s treatment of its clients and a “decline in the firm’s moral fiber.” London-based executive Greg Smith said he was resigning after 12 years with the firm. To recap…It was another day in the sun for the US dollar as a spillover effect from Tuesday’s Fed meeting was in full force. The question then becomes how long with this last. There wasn’t much data yesterday, of which the current account deficit widened, but we’ll see our fair share today. The South African rand and Norwegian krone both fell by over 2%, but all of the currencies ended the day in negative territory except for the rupee. Diminished thoughts of QE3 spurred a selloff in metals as well. Currencies today. American Style: A$ $1.0489, kiwi .8136, C$ $1.0066, euro 1.3046, sterling 1.5661, Swiss $1.0773, . European Style: rand 7.6612, krone 5.8007, SEK 6.8290, forint 223.73, zloty 3.1759, koruna 18.8555, RUB 29.49, yen 83.43, sing 1.2653, HKD 7.7626, INR 50.4350, China 6.3290, pesos 12.6874, BRL 1.8044, Dollar Index 80.41, Oil $105.48, 10-year 2.30%, Silver $32.31, and Gold. $1,646.88 That’s it for today…I happened to look down at the calendar and noticed the end of the first quarter is nearly upon us. Didn’t we just celebrate New Year’s? I’m still amazed how time flies when you’re having fun. I strained a tendon or something in my left elbow and forearm a few months ago, which is slowly getting better, so I’m hoping to get back into the gym next week. I saw a headline on the ticker that companies stand to lose $175 million in lost productivity today and tomorrow as March Madness kicks into full throttle. I’m running a little behind today, so I’ll cut this short and catch up with you tomorrow. Until then, Have a Great Day. Mike Meyer Assistant Vice President EverBank World Markets 1-800-926-4922 1-314-647-3837 www.everbank.com
Over the holidays, a dear friend asked for help—the sort of help you might need too. She’s retired, lives alone, and has a modest nest egg. But the thought of losing any of her life savings terrifies her. Let’s call my friend “Sally.” Sally doesn’t trust stockbrokers or any commission-based investment advisors. I was flattered to learn that she reads all of our material; but considering how often we lambaste low-interest cash accounts, I was surprised when she confided that all her money is in a cash account, earning 0.01% interest. Sally understands that at that rate, she’ll likely outlive her nest egg. She knows she needs to do something but is understandably afraid and feeling vulnerable. Now, I know she wasn’t just flattering me when she said she reads all of our material. She played it right back to me… The stock market is near an all-time high. The government, not solid business fundamentals, is propping up the stock market. It’s on thin ice. Junk bonds have a higher rate of default than top-quality bonds and are currently paying some of the lowest interest rates in several decades. Preserving capital and earning decent yields are both essential to making a lifetime portfolio last, well, a lifetime. CDs are risky because they tie up your money and might lose against inflation. These are real fears. Sally understands the risks of investing; however, she underestimates consequence of doing nothing. Several subscribers have expressed similar concerns. So, to answer Sally and company we’re sharing a conversation between analysts Andrey Dashkov, Chris Wood, and me.Dennis Miller: Andrey, I’ll start with you because I know you’re something of a financial advisor to your mother. What would you say if she asked these questions? Where would you tell her to start?Andrey Dashkov: Dennis, yes, my mother does indeed turn to me for financial advice. Let me start by giving you a little context. She still lives in Belarus, where I was born. I will not get into great detail about the country’s crumbling economy, but as we speak, the Belarusian National Bank has hiked its interest rates (called refinancing rates) by 5 percentage points, from 20% to 25%. You can get 50% annually on a bank deposit denominated in rubles; consumer credit rates go upward of 70%. You heard me right. I never stop admiring people who can navigate an environment like this. Granted, some go the obvious route and spend their money as fast as they can, while others try to save. But despite the attractive deposit rates, few are willing to trust the banking system. Most of the people just buy foreign currency in cash, really. Almost every new year, rumors about another devaluation start popping up, and people line up at ATMs to withdraw US dollars and euros. At the beginning of this year, the ruble was devalued by 7% in an instant. So Belarusians are natural risk avoiders and natural hedgers. Earning interest is less of a concern; preserving buying power and liquidity is what matters. Most people just buy US dollars and euros, hoping that if one of the two depreciates, the other will move up. Compared to the local currency, they feel more comfortable. Back to your friend, though. Since her main concerns are liquidity and stability, I would recommend she try one of the six Stable Income funds in the Money Forever portfolio. She isn’t mentally prepared to take on risk, so she needs to start slowly and build confidence. As you know, these funds function as cash alternatives. One in particular—a fund we’ve held since November 2012—comes to mind. While it pays a low rate of return, it’s still 80 times more than she’s currently earning. It’s a step in the right direction. Diversification is important, though, so I’d also recommend that she add other vehicles to her portfolio. Her well-being shouldn’t depend on any single position. This idea is easy to understand; my mother totally gets it. Many people of her generation have acted as amateur currency hedgers for the better part of the last decade. I’d start by taking easy steps, allocating some of your friend’s cash into our cash-like investments. While they aren’t as safe as cash or top-quality bonds, the additional returns would have an immediate, positive impact on her savings with minimal default risk. It’s as simple as this. If she earned 4% interest and had a 1% default, her net gain would be 3%—300 times what she’s earning now. When she’s ready, I’d encourage her to buy some stocks, too.Dennis: Chris, where would you suggest she start?Chris Wood: Dennis, you aren’t the only one who gets these types of questions. Once your friends and family learn what you do for a living, it’s natural that they start asking these questions. Much like your friend, they know they should “do something.” They just don’t know how to go about it. I tread carefully here because advising a friend in his or her 30s is much different than advising family elders. But back to your friend—I think Andrey is spot-on. Her primary goal should be preserving capital, but she really does need to go into the market to have any chance of keeping up with inflation, actually growing her nest egg in real terms, and generating enough income to continue to live a long and happy life. A good way to start is to dip your toes into safe, cash-like instruments that provide a better yield than a cash account at a brokerage. Then branch out into dividend-paying stocks that also provide the opportunity for robust capital appreciation (diversified geographically and across sectors, of course). Finally, add in some higher-yield income vehicles, like floating-rate funds, preferred stocks, and even high-quality venture-debt BDCs. This three-tiered approach should provide the capital appreciation and income necessary for her nest egg to live as long as she does, and it should do that as safely as possible. Speaking of safety, as she adds to her positions, she should limit each investment to a small portion (say 2-5%) of her entire portfolio. Other things like rebalancing on a regular basis, using limit orders so she doesn’t buy an investment at a price above what she’s comfortable with, and setting trailing stops to prevent catastrophic losses and lock in gains are important too.Dennis: One of my fears with friends is giving good advice that later goes stale. A decade ago I showed a friend how to set up a CD ladder. He recently mentioned that the process works well but complained about the low interest rates. The advice was good at the time, but it’s not something I’d recommend in today’s market. While I also recall suggesting he work closely with a licensed financial professional, he seems to have forgotten that part. How do you update friends and family? Chris, do you want to go first on this one?Chris: Sure. Unfortunately, there’s no “set it and forget it” way to deal with markets à la the Ronco Rotisserie. Probably the most important thing to communicate to friends and relatives who ask for advice is that it will take some work on their part. Vigilance is paramount. Even if you’re working with a financial professional, it’s important to know what’s going on, because the decisions you’re making now will affect the rest of your life. Obviously, there are cost/benefit tradeoffs in terms how much time you have to dedicate to such things. But in general, the more self-directed you are, the better the outcome. That’s basically the whole reason our organization exists, by the way: to help self-directed investors with unbiased research and analysis.Dennis: Andrey, do you have anything you want to add to Chris’ remarks?Andrey: Sure. As Chris says, it’s important to stay informed about what’s going on around you, both in the economy and on the stock market. The caveat, though, is that there is just too much information around, and most of it is useless. So when people ask me how to become better informed, I recommend consuming less information, not more; however, you have to be selective. Pick a couple of weekly magazines that cover the economy and business from different angles, and you’ll do two things: first, you’ll dramatically reduce the amount of information you need to consume per week; and second, what you read will often be better researched and more comprehensive than the bite-sized, out-of-context crap scattered around the Internet in the form of news and blog posts written with speed in mind, not comprehension. Also, treat all TV as entertainment. So that’s step one. Step two is finding reliable investment advice. Granted, there are excellent people in the business, but they’re often slow to adapt to the changing environment. They keep selling you “100 minus your age,” “60/40,” or other schemes, even though they won’t produce the results you need.Dennis: Okay guys, we’ve talked about putting your toes in the water with the safer, cash-like investments. How do you deal with concerns about the stock market? When we put together the bulletproof income portfolio, we started by asking, “What’s the smallest amount we can put in the market and still safely make enough yield to ensure the money lasts?” With the S&P 500 at all-time highs, the prices of companies like Apple are soaring. It’s pretty hard to say, “Buy high and hope to sell higher.” What are your thoughts in this regard? Andrey?Andrey: I don’t think about the stock market in terms of aggregates; in a sense, I don’t care how expensive the S&P 500 is. What I do care about is helping our subscribers enjoy the opportunities the market brings—and minimizing the risks. The first risk is in following the crowd. Most retail investors tend to hold the same 20-30 stocks in their portfolio: companies they know—or think they know about. This means brands like Apple, Chrysler, Coke, Ford, and now possibly Facebook, since it’s so pervasive. This approach is a losing proposition for two reasons. First, buying what everybody else does is irrational investing. Crowds buying (and then selling) stocks en masse creates volatility and hurts returns. Second, brands are not companies: if you like your Apple computer (or your Ford car or your Diet Coke), it doesn’t mean Apple or Ford or Coke are good investments. Investors should look at companies with as little emotion as possible. I read once that if you’re excited about any of your investments, you’re doing it wrong. Staying objective and disciplined is the way to go. In short, the market does what it wishes while we cut our own path. I think the Money Forever way, with our emphasis on risk management, income, and individual opportunities, is the right one. There are still opportunities out there for great appreciation and returns. It’s a matter of finding them ahead of—and while mostly ignoring—the emotional crowd. When the crowd starts buying is when we start looking to lock in profits. In 2014, we did this in several ways: tightening up stop losses; selling off part of our position; and in the case of HES, selling it all for a nice 78% gain.Dennis: Chris, anything to add?Chris: No, I think Andrey summed that up very nicely.Dennis: Guys, thank you both for chiming in here. To distill it down, there are three basic steps my friend and those in similar predicaments should take: stop doing nothing; start small; and, start now.On the Lighter Side Jo and I are making our way across the country, moving from Florida to Arizona just in time for Chicago Cubs’ spring training. While some friends are surprised by our eagerness to uproot our lives, I say it’s never too late to begin a new adventure with your bride. Until next week…
Justin’s note: As regular Dispatch readers know, every Friday we feature no-filtered insights from Doug Casey. You see, Doug isn’t just a world-class speculator. He’s a rare, independent thinker and a walking encyclopedia. Best of all, he isn’t afraid to speak his mind. It’s no surprise that these interviews have been a favorite among our readers.Today, Doug and I talk about why the “politically correct” or “PC” movement is destroying America…Justin Spittler: Doug, I want to ask you about political correctness. Obviously, PC culture’s nothing new, but it kind of seems like it’s spreading like cancer these days. Terms like “gender inclusivity,” “cultural appropriation,” and “white privilege” are everywhere.A good example is last year’s announcement by the University of Minnesota… saying it was dropping the names “Homecoming King and Queen” in favor of “Royals.” It did this in the name of “gender inclusivity.”Is PC culture getting totally out of hand, or am I going crazy?Doug Casey: Parts of the culture are borderline insane. There’ve been news items regarding this on scores of different colleges and universities across the US. What you mentioned at the University of Minnesota was just part of a greater movement. Although I’ve got to say that I find the use of “Royals” objectionable. I dislike the idea of a hereditary aristocracy—kings and queens and royals. They’re basically just successful, silk-clad gangsters. Why the royal family in Britain is looked up to is a mystery to me. They, like all royals in the world, historically are just descendants of successful thugs.But that’s not the point that the PC people are making. They don’t want to see people identified by their birth sex. They would rather that people “identify” as whatever gender—and I understand there are supposed to be about 40—you feel you belong to. You can say you are whoever you think you are. And oddly enough, I’m somewhat sympathetic to that. I think you should be able to call yourself what you want, do what you want, say what you want, this is all fine. And let people judge you by how you identify yourself. Say that you’re a hermaphrodite dinosaur who was born on Mars, if you want. I don’t care; it’s your problem. But these PC types want to legislate that people have to treat the psychologically aberrated as if they were normal. They want laws and punishments governing what you can and can’t do and say and even feel. They want to force you to respect, and pay for, the fantasies of a minority. And change—overturn actually—the whole social culture of the country. It’s a very disturbing trend. It’s likely to end in violence. I believe I first heard the term “political correctness” used on a Saturday Night Live show back in about 1980. And I thought it was just a joke—like most of the things on SNL. But it turned out to be a real thing, and it’s been building momentum, for at least the last two generations. Where is it going to end? I’m not sure, but it’s just one more termite eating away at the foundations of Western civilization itself. People that go along with this stuff aren’t just crazy. They’re actually evil. They’re the same types who rallied around Robespierre during the French revolution, Lenin during the Russian Revolution, Hitler in ‘30s Germany, and Mao in China. It’s a certain personality type.The fact that the average American still puts up with this kind of nonsense and treats it with respect is a bad sign. PC values are continually inculcated into kids that go off to college—which, incidentally, is another idiotic mistake that most people make for both economic and philosophical reasons. It’s a real cause for pessimism.Justin: I agree 100%, Doug. But here’s something our average reader might not realize.The PC “movement” is actually happening across the world.For example, Cardiff Metropolitan University in the U.K. banned words like “mankind,” “homosexual,” “housewife,” “manmade,” and “sportsmanship” in an effort to “promote fairness and equality through raising awareness about potentially discriminatory vocabulary.”Here are some of the University’s approved alternatives…Instead of “manpower,” students and faculty should say “human resources.”Instead of “mankind,” “humanity.”Instead of “sportsmanship,” “fairness.”Instead of “polio victim,” “polio survivor.”So here we have another university trying to legislate what people can and cannot say in the name of fairness and equality.But I really don’t see how this accomplishes anything. Would you agree?Doug: Completely. The words you use control the way you think. These people don’t have good intentions, they have bad intentions. Destructive intentions. They’re opposed to all the things that, starting with Ancient Greece, made Western Civilization unique, and better than any other on Earth. They’re opposed to the concepts of individualism, personal freedom, capitalism, economic liberty, free thought, and the like. And it starts with controlling the words you use. George Orwell pointed that out in 1984 where he created “Newspeak,” which was a new version of the English language that used all kinds of different new words in order to change the way people think. And to make it impossible for them to think clearly, because the words were purposely misdefined, often to the opposite of the meanings that they actually have. So, sure, this is part of the continuing corruption of Western civilization itself.And you’re right, it’s not just in American universities. It’s in universities everywhere, because the culture of universities everywhere has been controlled by this whole class of progressives, social justice warriors, cultural Marxists, socialists—they go under a number of names. I don’t know what’s going to be done about it, quite frankly, because the average person doesn’t have A) the backbone and B) the philosophical knowledge to counter these people. So there’s great cause for pessimism, watching this happen and accelerate. It’s not slowing down, it’s accelerating everywhere.For instance, some years ago I sat on the Board of Trustees of two different universities. The other trustees weren’t academics, but normal, successful middle-class people. And they were completely snowed by these crazy trends. They were of good will, but they’d been brainwashed by their own educations, and the culture around them, into thinking that although perhaps the SJWs and such were going “too far,” they didn’t actively oppose them. I’m afraid the intellectual and psychological battle has been lost. Click to read more Good News for Retirees in Spending BillA jaw-dropping $100 million will be paid out every hour of every day – for the next year. Recommended Link Justin: Exactly, it seems people across the world are waging a war on their own freedom of speech. Meanwhile, you have the government waging a war on people’s privacy…Facebook and internet service providers are hawking private browsing data, Google is listening in on our conversations, the CIA is hacking people’s smartphones…As disturbing as this all is, I can’t say I’m surprised. Are you?Doug: No, I wasn’t at all surprised by it. But people’s reaction to these horrible things is that, “Well, the CIA should be reined in a bit, they should be brought under control.” But this is the wrong reaction. The CIA—along with the NSA, the DEA, and a bunch of others—should be abolished, because the CIA has become an actual Praetorian guard. It’s become a government within a government. They have their own armed forces, they have their own sources of income. You can go rogue within the CIA, and if you’re powerful enough or clever enough you can basically do what you want because you’re an armed government agent that’s a member of a very powerful group.These people are completely out of control. And they have a powerful propaganda machine that works around the clock to convince ignorant and paranoid Boobus americanus that they’re actually good guys, working for his interests against the rest of the world.The CIA should be abolished because it’s dysfunctional, but also because it serves no useful purpose. It’s never ever predicted, through its so-called “intelligence gathering,” anything of value—ever. The Korean War, the rise of Castro, the fall of the Shah, the rise of Islam, the fact that the Soviet Union was just an empty shell—you know, they thought the Soviet Union was actually competing with the US from an economic point of view. They’re always absolutely wrong on everything. It defies the odds of pure chance. They’re not just useless, but extremely dangerous. All the coups and revolutions they’ve plotted were disasters.Can you abolish them? Can you get rid of them at this point? No, they’re far too powerful. And anybody that tries is either going to be killed and/or discredited by their black propaganda. At this point the situation’s completely out of control, and we just have to see where it ends. As an individual American, you should try to insulate yourself from these people. Because they’re not going away; they’re going to become even more powerful.Justin: How can the average American do that? Should they flee to another country? Delete their Facebook? Is this something people can even escape?Doug: It’s now a very small world, so it’s very hard to escape. But you just mentioned something to consider. I spend two-thirds of the year in South America, and travel a lot. Believe it or not, I don’t personally have a cell phone, because I don’t like to feel tethered to an electronic device. Societies down here aren’t nearly as electronically oriented as they are in the US. Though my internet connection in Cafayate, Argentina is much better than the one I have in Aspen. So, yes, that’s one thing. It’s easier to be out of sight and out of mind of the bad guys if you’re out of the US, which is the epicenter of all of this. I think that’s important. And being physically absent and trying to limit your use of electronic devices and be careful when you do use them. That’s about all you can do at this point.Or you can be a good little lamb, and never think out of the box. To mix metaphors, you can act like an ostrich and stick your head in the sand, believing you have nothing to hide, because you’re one of the herd who never does anything wrong. Too few people have read Harvey Silverglate’s book where he points out how the average American often commits about three felonies a day.But that book is surely inaccurate. It’s 10 years old. Now it’s probably like five felonies a day.Justin: Thanks for taking the time to speak with me today, Doug.Doug: My pleasure, Justin.Justin’s note: This October, you’re invited to meet Doug, along with all of our Casey gurus—including Nick Giambruno, E.B. Tucker, Dave Forest, and Marco Wutzer—at the first-ever Legacy Investment Summit in Bermuda. You’ll also have the chance to hear from some of the brightest minds in our business, including Bill Bonner and Teeka Tiwari… and special guests John Stossel and Glenn Beck.This is unlike anything we’ve done before. And we’d like to give you $1,000 in bonuses just for attending. Click here to learn more.P.S. Doug just gave a fantastic interview with Sprott Media and shared his thoughts on bitcoin, gold, and much more. Click here to hear why Doug says bitcoin is better than the US dollar… but not better than gold.Reader MailbagToday, a reader responds to Doug’s recent interview on China’s exploitation of Africa…Writing from Europe… I wish to thank Mr. Doug Casey and his team for their excellent articles. Your most recent musings about Africa and the Chinese expansion there were pretty much spot on. China will be a major factor in Africa for the foreseeable future. This process will be accelerated by the declining American influence, while Europe is falling apart. China is preparing for dominance of this continent, especially the central and southern parts, and more indirectly the Northern African countries.– HendrickAs always, you can send any questions or suggestions for the Dispatch right here.In Case You Missed It…Until now, 99% of the largest hedge funds and banks wouldn’t touch pot. That’s about to change… The “Trillion Dollar Mainstream Marijuana Takeover” begins as soon as November 6.And well-positioned investors could see gains of 7,500%… 9,329%… even 12,547% if these companies get taken over. Click here to learn more about this rare opportunity. Discover the full story here — Recommended Link — Is “$7 Internet” Coming to Your State This Year?America’s “most hated” cable companies are mad as hell. A brand-new internet technology with the code name “Halo-Fi” promises to be faster than cable, yet, by my estimates, over 7 times cheaper, which could save you an easy $19,494. Everything shifts on September 22, so there’s no time to lose.
A healthcare regulator has decided that a notorious benefits assessor will not face any disciplinary action over allegations of dishonesty, even though his former employer admitted that he lied in an assessment report.Paramedic Alan Barham still faces being struck off for comments he made to an undercover reporter while working for the government contractor Capita, which were aired in a Channel 4 Dispatches documentary last April.But the Health and Care Professions Council (HCPC), which is investigating Barham’s actions, has decided that separate allegations that he lied in a report he wrote after assessing a disabled woman’s eligibility for personal independence payment (PIP) will not be dealt with by a disciplinary hearing.The conclusions reached by the council will add to concerns that regulators are failing to act when they receive complaints from disabled people that healthcare professionals have written dishonest reports after carrying out face-to-face PIP assessments.Following a two-month investigation, Disability News Service (DNS) has collected scores of cases of disabled people who claim that PIP assessors like Barham lied repeatedly in reports produced for the Department for Work and Pensions.Undercover footage from the Dispatches programme (pictured) showed Barham admitting that he sometimes completed his PIP assessment reports before even meeting the claimants.He also told an undercover reporter that he could usually “completely dismiss” what he was told by PIP claimants, and made offensive comments about an overweight claimant who was unable to carry out her own personal care.After watching the programme, two disabled people who had been assessed by Barham lodged complaints about his behaviour, based both on the documentary and on reports that he had written following face-to-face assessments of their entitlement to PIP.An HCPC investigating committee has now concluded that the comments Barham made in the documentary are serious enough for him to be found guilty of “misconduct and/or lack of competence” if a disciplinary panel finds them proven.But the committee has also decided that allegations about the two PIP assessments carried out by Barham – which were not part of the documentary – are not serious enough to merit findings of misconduct and/or lack of competence, even though Capita has already concluded that Barham lied in one of the assessment reports.The committee concluded that the allegations concerning lying and other failings in assessments “could be considered to fall short of the expected standards of a Paramedic” but “do not, in the Panel’s view, constitute misconduct and/or lack of competence”.David Nicholls, from Northampton, the husband of one of the PIP claimants, has told DNS of his anger and frustration at the way HCPC has dealt with the case.DNS has seen Capita’s response to his complaint about the assessment report Barham wrote following an assessment of his wife, Jacqueline, in March last year, a month before the Dispatches documentary was screened.As a result of the assessment, she was found ineligible for PIP.It was only after the documentary was aired and DWP agreed to allow her to be reassessed that she was granted the enhanced rate for both the daily living and mobility components of PIP.In the response to the Nicholls complaint about Barham, a Capita senior complaint handler wrote: “You stated that you disagree with the content of your assessment report and that you believe [Barham] had made inaccurate assumptions and had lied in his report…“Based on the outcome of my investigation, I uphold this element of your complaint.”In his report, Barham repeatedly stated that what he was told by Jacqueline Nicholls was not backed up by the tests he carried out during the assessment.But David Nicholls said Barham had ignored the impact of his wife’s brain injury on both her physical and mental functioning, including her seizures, her confusion when asked too many questions, the lack of feeling in parts of her body, her memory problems, and her tendency to get lost when on her own.Barham reported instead that she could plan and follow routes, understand complex written information without any help, and make her own budgeting decisions.Nicholls said: “He has misled people with the findings in his report in the worst possible way.“His assessment gave no consideration to brain injury at all. Jacquie could not take it in.”He said that the effect of dishonest assessors like Barham on disabled people was “devastating”.He said he was “very upset” by the HCPC decision, which he said showed that it was “letting down any person who feels they have been badly treated or assessed.“It sends out the message that no matter what your assessor does or says, they will get away with it. They will be protected and never seen to be at fault.”An HCPC spokeswoman said: “We can confirm that complaints against Alan Barham are currently being investigated through our fitness to practice process and an allegation pertaining to these matters has been referred to the conduct and competence committee.“However, due to the ongoing nature of the investigation and our duty of confidentiality to all parties involved it would be inappropriate for us to comment any further at this stage.“Once the matter is listed for final hearing the full details of the public allegation will be published on our website four weeks prior to the hearing date.”She later added: “I can confirm to you that [the Dispatches claims] are the only allegations going forward to the final hearing, they are now the only two allegations in the public domain. “Essentially, this means [the allegations concerning the two PIP assessments] will not be further considered.“However as this is a private document stemming from an independent panel decision we cannot provide any further comment on the reasoning behind this.”DNS has approached Barham for a comment, but he had not replied by noon today (Thursday).
Former Staff Writer Register Now » Learn how to successfully navigate family business dynamics and build businesses that excel. June 17, 2014 Add to Queue Your Customers Can Now Direct Message You on Yelp 1 min read Customer Relationship Management Geoff Weiss With a just-announced direct messaging feature, Yelp is aiming to make communication between business owners and customers even more seamless.For specific inquiries unlikely to appear on general listings — or for when customers simply don’t feel like picking up the phone — users can now click on a link appearing beneath each claimed company’s contact information to compose a direct message.Business owners receive these messages as emails but can respond directly without having to log in to their Yelp accounts, the company explained in a blog post.Related: Facebook Lets Restaurants Post Menus to Pages; Yelp Announces New Video FeatureUpon sending a message, consumers will be notified of each business’ average response time.Though the feature bypasses in-person interaction, one business owner found that it actually increased contact. “It almost always leads to further correspondence or a phone conversation,” said Wade Lombard, founder of Square Cow Movers in Austin, Texas.The feature is optional for businesses and can be disabled, Yelp said.Related: Yelp Now Points Users to Businesses That Accept Bitcoin as Payment –shares Next Article Free Webinar | July 31: Secrets to Running a Successful Family Business
Source:https://www.elsevier.com/ Reviewed by James Ives, M.Psych. (Editor)Oct 8 2018Non-small-cell lung carcinoma (NSCLC) is often fatal because most cases are not diagnosed until they are so advanced that surgical intervention is no longer possible. To improve outcomes researchers are developing a blood test to detect lung cancer earlier in the disease. A report in The Journal of Molecular Diagnostics describes a new technology, electric field-induced release and measurement (EFIRM) that is both highly sensitive and specific in detecting two epidermal growth factor receptor (EGFR) mutations associated with lung cancer in the blood of NSCLC patients with early-stage disease. This platform is relatively inexpensive and capable of high-throughput testing.Despite advances in chemotherapy, five-year survival for patients diagnosed with unresectable NSCLC is less than 10 percent. The ability to diagnose NSCLC in stages 1 and 2, when surgical resection and potential cure are still possible, could significantly reduce the mortality from NSCLC worldwide. “The revolutionary EFIRM technology is the most exciting development in noninvasive liquid biopsy in recent years. The potential to detect early-stage lung cancer patients with an affordable blood or saliva test could save thousands to tens of thousands of lives annually worldwide,” stated Charles M. Strom, MD, PhD, co-director of the Center for Oral/Head and Neck Oncology Research at the UCLA School of Dentistry, Los Angeles, CA, USA, and Senior Vice President and Chief Medical Officer of EZLife Bio, USA, Woodland Hills, CA, USA. The EFIRM technology can also be used to monitor treatment and detect recurrence in patients already diagnosed with NSCLC.Previously, the investigators had successfully measured two actionable EGFR mutations (p.L858R and Exon 19del) in blood samples from patients with late-stage NSCLC using EFIRM technology. In the current study, they investigated whether the mutations could be found in samples from patients with early-stage disease.Related StoriesAdding immunotherapy after initial treatment improves survival in metastatic NSCLC patientsNew research links “broken heart syndrome” to cancerHow cell-free DNA can be targeted to prevent spread of tumorsThe researchers collected plasma samples from 248 patients with radiographically-determined pulmonary nodules. Of those, 44 were diagnosed with Stage I or Stage II NSCLC (23 with biopsy-proven benign pulmonary nodules and 21 with Stage I or Stage II adenocarcinoma). EFIRM was able to detect the p.L858R mutation in 11 of 12 samples and the Exon 19del mutation in seven of nine samples, resulting in greater than 90 percent sensitivity and 80 percent specificity.”Currently, the clinical sensitivity of EFIRM to detect patients with NSCLC is limited by the percentage of tumors containing either or both of the two variants, which is estimated at 27 percent of NSCLC tumors,” explained co-investigator Wu-Chou Su, MD, of the Department of Internal Medicine, National Cheng Kung University Hospital and College of Medicine of the National Cheng Kung University, Tainan, Taiwan. “We are presently developing a 10-variant panel that contains detecting mutations expressed in 50 percent of all lung malignancies.”Investigators emphasize that this study does not present direct evidence that detecting EGFR mutations in the plasma of an individual is predictive that the patient has cancer. Future work will explore whether finding an EGFR mutation in the circulation has any predictive value. Currently, the EFIRM liquid biopsy may be helpful for guiding treatment selection in patients for whom biopsy material is not available.”We are gratified by the performance of the EFIRM platform in patients whose tumors were still small enough to qualify for surgical care. Work is underway to increase the number of mutations analyzed and to automate the process to increase sensitivity and facilitate mass screening,” commented Dr. Strom.
Spurred by a nine percent increase in passengers, net profit soared to 1.45 billion euros ($1.7 billion) in the year to March 31, a statement said, identifying Germany, Italy and Spain as the three largest growth markets.This was despite “a three percent cut in air fares, during a year of overcapacity in Europe, leading to a weaker fare environment, rising fuel prices, and the recovery from our September 2017 rostering management failure,” Ryanair CEO Michael O’Leary said.The crisis led to the cancellation of 20,000 flights so far. The airline however said it expected profit after tax to fall to between 1.25 and 1.35 billion euros in the current financial year due to a rise in petrol prices.”Fuel will be a major cost headwind for the next 24 months,” it said.”Air fares tend to follow oil prices (as they have downwards over the last three years) but with a lag of up to 12 months before higher oil prices feed through to higher air fares. Accordingly, we expect unit costs over the next year to rise by nine percent.”However the company said it expected to “grow traffic by seven percent to 139 million.”Since recognising unions, Ryanair has reached agreements with pilots in Britain and Italy but is still working towards deals with unions in other major centres such as Ireland and Spain. Irish budget carrier Ryanair said Monday its net profit had risen 10 percent in 2017-2018 despite the cancellation of thousands of flights, but forecast a fall this year due to higher oil prices. Citation: Ryanair profits up 10% despite cancellations crisis (2018, May 21) retrieved 18 July 2019 from https://phys.org/news/2018-05-ryanair-profits-cancellations-crisis.html Ryanair’s flight cancellation crisis led to at least 20,000 flights being axed Budget airline Norwegian says profits grounded by fuel, expansion costs Explore further © 2018 AFP This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
Study identifies lherzolite as a source rock for diamond deposits Explore further Technology is disrupting the diamond business.Lab-grown diamonds that producers say have all the characteristics of the ones that were formed deep in the Earth naturally are finding a place in the market. The Robb Report estimates that lab-grown diamonds sales will reach $420 million this year. That’s almost 3% of the $14 billion annual diamond market.Spence Diamonds, a 40-year-old Canadian fine jeweler, has expanded into lab-grown diamonds and is opening stores in the U.S., including three in Texas: West Village in Uptown Dallas, Legacy West in Plano and The Domain in Austin.Government regulators and industry groups are all over the topic.In April, the Federal Trade Commission searched through diamond jewelry ads and on social media to see what shoppers were being told.The agency found eight businesses using ads that could be deceptive or not in line with its jewelry guides. Spence Diamonds was not one of those.Earlier, the FTC had removed the word “synthetic” from lab-grown diamonds but told jewelers that they must specify clearly to shoppers that the diamonds are lab-grown. And jewelers must use a different scale than they do for Earth-mined diamonds.At the Spence store in the West Village, 500 bridal settings are displayed in traditional glass cases, but they’re open. The rings have glass stones, so shoppers can try on all they want without being watched or having to wait for someone to help them.Lab-grown diamonds are priced lower. Spence sells a mined 1.5 carat diamond solitaire ring for $12,179 and one with a lab-grown 2.3 carat diamond for $10,739.”We’re aware that the U.S. and Dallas is saturated with jewelry stores, but we love how we are positioned,” said Veeral Rathod, Spence Diamond’s CEO and the former CEO and co-founder of Dallas-based J. Hilburn. He joined the Vancouver-based company in September.Spence will make any engagement ring, either in one of its 3,000 settings or a special design brought in by the customer and make it out of either mined or lab-grown diamonds. That’s also true with stud earrings, he said, and the jewelry can be customized to fit the shopper’s budget.Why is this happening? Some consumers are drawn to them over environmental or political concerns. Others simply prefer a bigger stone for less money.”Technology and science has made it possible, and the FTC has confirmed that they are chemically and physically the same,” Rathod said. “We just have to be sure the customer knows what they’re buying, and let the consumer make an informed decision.” Citation: Lab-grown diamonds: Technology is disrupting the diamond business (2019, May 31) retrieved 17 July 2019 from https://phys.org/news/2019-05-lab-grown-diamonds-technology-disrupting-diamond.html This is a collection of 0.02, 0.03 and 0.04 carat solitaire diamonds weighing in total 5.36 carats. Credit: Swamibu/Wikipedia ©2019 The Dallas Morning News Distributed by Tribune Content Agency, LLC. Forget what you know about cubic zirconia, crystals and any simulated diamonds. This isn’t about that. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.