These celebrities are kicking off 2021 with new additions to their family
These celebrities are kicking off 2021 with new additions to their family
In 2018, the all-new seventh-generation Lexus ES redefined its status among entry-level luxury sedans with a striking exterior design and transformative performance made possible by the Global Architecture–K (GA-K) platform. For the 2022 model year, the new ES family builds upon this recipe for success with numerous multimedia, safety, style, and color updates. Additional enhancements to F SPORT models include a new Dynamic Handling Package and the introduction of a new ES 300h F SPORT trim available in select regions. With the added variety, the ES Family continues to offer Lexus guests choices to fit their diverse interests and lifestyles.
(Bloomberg) -- Japan won praise during the pandemic for staying open while other developed economies locked down -- helping lift stocks to three-decade highs. But as the country now struggles with its inoculation program, a case of vaccine envy is breaking out.The Topix is down 2.6% in the past month, compared with gains of 7% in the S&P 500 Index and 4.6% by the FTSE 100 in London, where photos of revelers at re-opened pubs this week contrast with reports from Tokyo, where hours at bars and restaurants have been shortened as virus cases surge.“Japanese indexes are starting to fall behind. Foreign investors are looking at vaccination rates as an investment decision,” said Tomoichiro Kubota, a senior market analyst at Matsui Securities Co. “Markets are at their wits end right now with the vaccination rate slower in Japan.”Talks on a new supply of vaccine between Prime Minister Yoshihide Suga and Pfizer Inc. Chief Executive Officer Albert Bourla failed to immediately lift spirits in Tokyo markets, amid reports the capital’s leadership was considering another state of emergency to tackle the resurgence.Suga told reporters on Monday that Pfizer had agreed to hold talks on supplying more of the vaccine, and that he expected to have sufficient supplies for the entire country by the end of September. However, he didn’t give further clarity on the timeline or how many doses might be secured. Japan’s vaccine czar Taro Kono said Sunday that a deal had been effectively reached with Pfizer.“In a way, it’s a buying opportunity, because it’s not forever that Japan will be behind,” John Vail, chief global strategist at Nikko Asset Management Co., said Friday, before reports on a possible Pfizer deal. “People are going to get vaccinated pretty soon. A lot of people will be relieved.”The first shipments of Moderna Inc.’s vaccine, which could be approved for use in Japan as early as next month, are also set to arrive this week, according to a report by the Jiji news agency.Olympic FocusJapan has entered a fourth wave of the Covid-19 pandemic with fewer than 100 days before the scheduled opening of the Olympic Games. A senior official in Japan’s ruling party indicated last week that canceling the event was an option, though he later clarified his remarks.In Tokyo’s financial circles, some envy peers abroad who have already been vaccinated. Hong Kong on Thursday expanded eligibility to all people over the age of 16. Japan has yet to set out a schedule for groups beyond the over-65s, although officials have said they expect the rates to increase in May.“If the inoculation rate for Japan remains so overwhelmingly low, it’s inevitable that compared to other countries, the recovery of the economy will be significantly delayed,” Toshihiro Nagahama, chief economist at Dai-Ichi Life Research Institute, wrote in a report.The country plans to distribute enough vaccine to cover both doses for people 65 years and older by the end of June, though the timeframe for actual administration of the shots hasn’t been finalized.Less UrgencyJapan started inoculations of the elderly one week ago, with only about 7,000 of the 36 million over-65s administered to in the first four days. Nearly 2 million doses have also been given to medical workers.A combination of factors has dragged the rollout, including a requirement for local trials, a lack of domestic development and production capacity that has made Japan dependent on imports, and a public long-skeptical of vaccines.Also, with around 500,000 reported cases to date -- compared to 31 million in the U.S. and 5.2 million in France -- Japan hasn’t felt as much urgency as many nations in the West. Indeed, even during the most recent state of emergency, businesses both large and small mostly stayed open.“Globally, Japan is still an A-student in terms of how little economic activity declined,” said Hiroshi Matsumoto head of Japan investment at Pictet Asset Management, who cites a lull in the earnings cycle for sluggishness in the markets, with a recovery already priced in and earnings season looming.“There isn’t really a debate that Japan is somehow worse compared to other countries that need to ramp up vaccination because their outbreak is worse,” he said.(Updates with comments from PM Suga from fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Maren Morris glittered at the 2021 ACM Awards on Sunday.
Erica Enders went from nearly not qualifying to winning the Pro Stock finale in the DENSO Spark Plugs NHRA Four-Wide Nationals at Las Vegas Motor Speedway on Sunday. In her 300th career start, the back-to-back world champ earned her 30th career win with a run of 6.656 seconds at 205.88 mph in the final round in her Chevrolet Camaro. Enders slipped into the qualifying field at No. 13 on her last attempt on Saturday and became the first Pro Stock racer to win from that spot since 2006.
(Bloomberg) -- After two weeks of relentless losses, China Huarong Asset Management Co. bondholders are finally finding reasons for optimism.Huarong bonds jumped after China’s financial regulator said on Friday that the bad-debt manager was operating normally and had ample liquidity, its first official comments since the company jolted Asian credit markets by missing a deadline to report earnings on March 31. While the regulator’s statement was hardly a full-throated pledge of government support, it was enough to cement a rally in Huarong bonds from record lows and ease fears of contagion. The gains continued on Monday.One of the state-owned company’s dollar bonds -- a 3.375% note maturing in May 2022 -- climbed to about 85 cents after trading at 65 cents on Wednesday, according to prices compiled by Bloomberg.The rebound suggests investors have become less concerned about extreme scenarios like bankruptcy. Yet questions remain about the extent of Beijing’s support as Huarong tries to overhaul its business.The company, controlled by China’s Ministry of Finance, has been mired in scandal since its former chairman Lai Xiaomin was accused of bribery in 2018 and executed earlier this year. Under Lai, Huarong moved beyond its original mandate of helping banks dispose of bad debt, raising billions of dollars from offshore bondholders and expanding into everything from trust companies to securities trading and illiquid investments.If China decides to impose losses on Huarong bondholders in a debt restructuring, it would be the nation’s most consequential credit event since the late 1990s and the clearest sign yet that Beijing is serious about reducing moral hazard in its $54 trillion financial industry. But if Huarong continues to meet its obligations, the company’s bonds could end up delivering a windfall to investors who bought after prices plunged this month.“The fact that a regulator finally said something should give the market some confidence,” said David Loevinger, a former China specialist at the U.S. Treasury and now a managing director at TCW Group Inc. in Los Angeles. “The amazing thing is like many investors, if you asked me a month ago, what is the risk of Huarong restructuring its debt, I would have said close to zero. Even though I still think it’s unlikely, the risk is no longer zero.”In a statement late Friday, Huarong said it will accelerate disposal of existing risks and keep focusing on its main business of non-performing loans. Huarong said it’s working on its full-year earnings report with its auditor and will disclose it at an appropriate time.Investors will be keeping a close eye on the company’s near-term debt payments for any signs of stress.Huarong’s onshore securities unit has wired funds to repay a local bond due April 18, people familiar with the matter said on Friday. Reports that Huarong has prepared funds to pay a S$600 million ($450 million) bond due April 27 helped trigger the rally in its offshore debt from record lows on Thursday.The comments from China’s regulator on Friday suggest the worst of the Huarong crisis is likely over, according to Yong Zhu, who manages about $6 billion at DuPont Capital Management in Wilmington, Delaware.“The statement from the China Banking and Insurance Regulatory Commission is a clear indication that the policy of the Chinese government is to support Huarong and avoid near term default,” said Zhu, who doesn’t own the bonds.Credit-default swaps on China Huarong International Holdings Ltd., an offshore unit of Huarong, tumbled to 956 basis points on Friday from a record 1,466 basis points, according to ICE Data Services.What Bloomberg Intelligence says“The Chinese government still operates in an opaque manner. So until something is officially announced, things are still in play. It’s either a bailout or a big haircut. People are sensitive to any news.”-- Dan Wang, credit analyst a Bloomberg Intelligence.If Huarong were to restructure with offshore bondholders taking a hit, investors would reassess the credit risk of other Chinese companies that use a similar funding mechanism, said Nick Smallwood, an emerging-market debt strategist at M&G Investments. That would make future borrowing more costly and difficult to come by, Smallwood said.“I think there is an expectation that Huarong will not default and that it is a structurally important credit, resulting in a higher likelihood of government support,” said Steven Oh, head of fixed income at Pinebridge Investments.Chinese policy makers will have to weigh the broader market implications as they decide how to proceed, according to TCW’s Loevinger.“Clearly, the direction of the policy is they want to send a signal that creditors have to pay more attention to credit risks and they have to stop expecting bailouts,” Loevinger said. “They want to kill the chicken to scare monkeys. But having Huarong default would be killing the tiger. Obviously, it’s a much bigger systemic risk.”(Updates with Monday trading from second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Cody Martin (Charlotte Hornets) with a buzzer beater vs the Portland Trail Blazers, 04/18/2021
Miles Bridges (Charlotte Hornets) with a dunk vs the Portland Trail Blazers, 04/18/2021
Leading kids smartphone watch developer Spacetalk Ltd. (ASX:SPA, www.spacetalkwatch.com) and aged care service provider ACH Group have come together to enhance and broaden access to the revolutionary and affordable Spacetalk LIFE smartphone watch for older Australians.
Cody Zeller (Charlotte Hornets) with a 2-pointer vs the Portland Trail Blazers, 04/18/2021
(Bloomberg) -- Deutsche Bank AG is replacing its global pricing engine for emerging-market currencies in London with one in Singapore, drawn by surging trading in Asia and the increasing importance of the Chinese yuan.Locating new and more powerful computer hardware in the city-state will help the bank shave vital fractions of seconds from the time it takes to execute orders in the region, according to Singapore-based David Lynne, the chief of fixed income and currency operations in Asia region.The shift underscores the need to locate servers closer to customers amid the boom in high-frequency trading and the rise of the yuan, which accounts for about 4% of global currency volumes. It is also a win for Singapore, Asia’s biggest currency-trading hub, which is fighting to maintain its lead over chief rival Hong Kong and grab a bigger share of trading in the Chinese currency.“Singapore is growing as a major regional liquidity center, and we along with some of our competitors are building capacity here to boost the speed of transmission into more Asian countries,” Lynne, who is also the regional head of corporate banking, said in an interview last week. “The upgrades we are making in new hardware in Singapore substantially increase our technical capability.”The city-state also has a speed advantage, Lynne said. “It is faster than Tokyo in transmitting FX pricing into local Asia FX markets.”Singapore is ranked third globally behind the U.K. and U.S in the $6.6 trillion-a-day foreign-exchange market, the latest triennial report from the Bank for International Settlements show in 2019. In the past few years, the Monetary Authority of Singapore has been encouraging banks to build systems that would remove a lag caused by routing trades through London or Tokyo, while touting access to the wealthy in the region.To add to daily trading volumes of $640 billion -- up 24% from 2016 -- the MAS has also been promoting its offshore status for Chinese yuan trading.All the major forex hubs are competing for a bigger share of yuan trading -- which had reached a daily average of $284 billion, according to BIS -- especially as capital inflows into China pick up pace. Beijing has also eased investment restrictions as part of broader efforts to turn its currency into a global reserve to rival the dollar.It is the most-traded emerging-market currency, according to BIS data.World’s Traders Catapult China to FX Big League on Yield AppealDeutsche Bank is also boosting its algorithm-based capacity for onshore yuan trading in China, said Lynne, who moved to Singapore with Deutsche Bank in 1998.“We’re increasing our algo capability for China, which requires access to CFETS data,” he said, referring to the China Foreign Exchange Trade System.“We already see a majority of our products trading purely on algo. We expect to see more of that activity pricing on algo in the future.”Deutsche Bank is seeing an increase in demand from clients, particularly those in China, to change the invoice currency for transactions to renminbi. “That will continue to increase,” Lynne said.Emerging-markets team staff will continue to be spread across London, New York, Hong Kong and Singapore, with no impact on headcount from the location of hardware, he said.JPMorgan Chase & Co. and UBS Group AG, the world’s biggest forex trading banks by volumes as per the 2020 Euromoney survey, have already have set up FX pricing and trading engines in the island nation. Deutsche Bank and Citigroup Inc., ranked fourth and fifth respectively, also count Singapore among their global trading centers.Deustche Bank’s other three global FX hubs are London, New York and Tokyo.(Adds Lynne’s comment on speed in fifth paragraph, bank’s other global FX hubs in last.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Five years ago, Maren Morris and Ryan Hurd sang together at Nashville's Ryman Auditorium for the first time, when Morris opened for Chris Stapleton.
Training like a girl is taking on new meaning in the South Valley.
Terry Rozier (Charlotte Hornets) with a buzzer beater vs the Portland Trail Blazers, 04/18/2021
Charles Barkley and Shaquille O'Neal joined former President Barack Obama on a TV special to encourage people to get COVID-19 vaccines.
Hester Ford, the oldest known living person in the United States, passed away peacefully at her Charlotte home. She was at least 115 years old.
Meet the nominees for the News & Observer high school athlete of the week. Vote as often as you like until Friday
Bam Adebayo hit a thrilling game winner at the buzzer on Sunday to lift the Miami Heat to a 109-107 victory over the Brooklyn Nets, who lost superstar Kevin Durant to another injury.
The bull market is now in a Power Trend, but note key warning signs too. Bitcoin plunged from record highs. Square and other growth plays have handles. Will Tesla join them?
Zach Parise required nine stitches to patch up the gash on his right cheek, the result of a high stick from teammate Nico Sturm Friday night. "He apologized right after and I told him, 'Don't worry about it,' " Parise said. "That stuff happens around here." Parise's new facial feature isn't the only imprint his budding partnership has made. Since assembling last week, Parise, Sturm and Nick ...
Braden Holtby (Vancouver Canucks) with a Spectacular Goalie Save vs. Toronto Maple Leafs, 04/18/2021