Yahoo Sports NBA Draft analyst Krysten Peek spoke with Iowa State G Tyrese Haliburton about his experience on draft night and his thoughts on being drafted No. 12 by the Sacramento Kings.
Yahoo Sports NBA Draft analyst Krysten Peek spoke with Iowa State G Tyrese Haliburton about his experience on draft night and his thoughts on being drafted No. 12 by the Sacramento Kings.
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(Bloomberg) -- Chinese firms and Canadian pension funds are on the prowl in Latin America, looking to scoop up assets at rock-bottom prices and make further inroads to the region’s biggest industries following the worst economic downturn in more than a century.Foreign investors are eyeing sectors ranging from Brazilian health care to Argentine power transmission projects. Asian companies, many with links to the Chinese government, top the list, ready to expand their presence in the backyard of the U.S., said Anna Mello, a partner at Trench Rossi Watanabe, a Brazilian law firm that works in cooperation with Baker McKenzie LLP on mergers and acquisitions in the region.“Chinese economic influence in Latin America is likely to gain strength in the post-pandemic era,” she said. “The U.S. will probably focus more on Latin America investments in 2021 and will seek to counter China’s influence in the Western Hemisphere.”The renewed interest comes as deals trend toward a 15-year low this year after the outbreak led to an historic economic drop, causing governments to borrow heavily and sending firms across the region into default. Countries and corporations are likely to sell assets, in some cases at reduced prices, to improve liquidity -- giving foreign firms a chance to spend the cash they’ve been stockpiling.“These long-term investors -- Canadian pension groups, U.S. private equity funds, institutional players -- they have large sums of capital,” said Mauricio Saldarriaga, managing partner at Inverlink SA, a Colombian investment bank. “And they can find opportunities at cheaper prices than they saw 12 months ago.”More DealsCovid-19 took a heavy toll on Latin America with regional gross domestic product expected to contract by more than 7%, the most since reliable record keeping began more than a century ago. The downturn pushed companies and governments into default, including Argentina and the region’s largest airlines.Mergers and acquisitions across Latin America and the Caribbean dropped to around $90 billion this year, a 40% fall from 2019, according to data compiled by Bloomberg.Yet, foreign firms made inroads, with companies like State Grid Corp. of China recently inking a deal to pay $3 billion for an electricity grid in Chile, and China Harbor Engineering Co. buying assets in Colombia. Canada’s pension funds, like the Canada Pension Plan Investment Board and Caisse de depot et placement du Quebec, have also increased investments in the region.Read more: After Trump taunts Colombia, China pours billions into countryMore deals are on the horizon with investors looking to deploy cash in infrastructure projects, oil and gas companies and renewable energy across Latin America, as well as mines in Colombia and Peru, Mello said. Brazilian oil company Petrobras SA said Friday it received bids for divestment of an oil and gas cluster.One country where deals may be slower to materialize is Mexico, where political uncertainty under populist President Andres Manuel Lopez Obrador has pushed foreign firms to change strategies.Some are looking to reinvest elsewhere, or even pull out in search of more stable countries, said Gavin Strong, a Mexico City-based analyst at Control Risks, a consultancy.“We’ve had two types of conversations: One has been with investors looking to get out of the energy sector and looking at infrastructure,” he said. “The other is companies that are considering leaving Mexico and investing in South America.”(Updates deal total in 7th paragraph, adds Petrobras in 9th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A 15-year-old Colorado high school student and young scientist who has used artificial intelligence and created apps to tackle contaminated drinking water, cyberbullying, opioid addiction and other social problems has been named Time Magazine's first-ever “Kid of the Year." Gitanjali Rao, a sophomore at STEM School Highlands Ranch in suburban Denver who lives in the city of Lone Tree, was selected from more than 5,000 nominees in a process that culminated with a finalists' committee of children, Time for Kids reporters and comedian Trevor Noah. For 92 years, Time has presented a “Person of the Year,” and the youngest ever was Swedish climate activist Greta Thunberg, who was 16 when she graced the magazine's cover last year.
The Global Wireless Phone Chargers Market will grow by $ 2.72 bn during 2020-2024
Questions about the legality of Trump profiting from hotels and resorts have overshadowed his presidency – and authorities are now taking action
You have to respect a country that has designated not one—but SIX—dogs as national natural monuments. Get to know the noble breeds known as Nihon Ken, as well as two other native Japanese dog breeds (and one misconception).
The 26-year-old goes to graduate school in the United States, but she was born and raised in Tigray, the northernmost region of Ethiopia, where a deadly conflict broke out last month between federal troops and rebellious regional forces. On Nov. 4, Ethiopian Prime Minister Abiy Ahmed announced a military offensive against the Tigray People's Liberation Front, a powerful ethnically based political party that dominated the East African nation's federal government for almost 30 years, until Abiy came to power in 2018. The prime minister alleged that forces loyal to TPLF had attacked the headquarters of the Ethiopian military's Northern Command in Tigray's regional capital, Mekelle.
Europe’s freedom of movement laws have been exploited for modern slavery, but without sharing information on criminal behaviour with our neighbours we will lose control of our borders
The board firings come less than a month after President Donald Trump pushed out Defense Secretary Mark Esper.
Jurgen Klopp has accused Premier League executives of "ignoring player welfare" after they did not consider allowing clubs to increase the number of substitutes from three to five at a meeting this week.
Americans will receive vaccine record cards and text message reminders to keep track of their COVID-19 vaccine. Here's what else you need to know.
(Bloomberg) -- Europe should extend its de-facto ban on bank dividends by six months, a top official at the European Central Bank’s supervisory arm said, casting a shadow over investors’ hopes for a return to payouts early next year.The comments come as big banks across Europe are facing fraught times, with regulators at the ECB and the Bank of England preparing to decide in coming weeks whether and how to lift their recommendations on payouts. Shareholder dividends were effectively frozen in March in a trade-off for unprecedented regulatory relief and government loan guarantees, yet bankers have subsequently slammed them as doing more harm than good.Speaking in an interview ahead of the long-awaited decision this month, Ed Sibley, a member of the ECB’s supervisory board, said continued uncertainty, a need to preserve capital for lending and reputational issues for banks all speak in favor of extending the regulator’s existing recommendation. The question is how to implement it in practice, because the ECB doesn’t have the powers to enforce a blanket ban over mounting objection by lenders.“Overall, we would be better if we were to hold off for another six months,” said Sibley, who is also a deputy governor at the Central Bank of Ireland. “Whether we can practically do that is a real challenge.”European banking stocks pared gains on Friday, with the 22-member Euro Stoxx Banks Index up 1.2% as of 5:28 p.m. in Frankfurt after earlier rising 2%. The index has fallen 19% this year with Banco de Sabadell SA, ABN Amro Bank NV and Societe Generale SA among the biggest losers.The BOE and ECB have said they will announce their decisions on dividends by the end of the year. Sibley didn’t say how many supervisory board members share his views. “We’ve been having a really good discussion about it,” he said. “It’s not something we’ve been going at in a blasé kind of way.”Regulators will get key input on Thursday when the ECB will release its economic projections, alongside its latest monetary policy decision. The BOE publishes its Financial Stability Report the next day.“That will factor into our thinking, but there are lots of other things we need to think about as well,” said Sibley. “There are significant weaknesses in lots of banks’ ability to demonstrate to us that their planning is effective from a capital management perspective.”Legal BasisThe ECB recommended earlier this year that banks not pay dividends or buy back shares at least through the end of 2020. The central bank can’t order an industry-wide ban, yet big banks fell in line after chief watchdog Andrea Enria said he could impose legally-binding measures on an individual basis.As the pandemic progressed and lenders largely managed to deal with the fallout, some of the banks hardest-hit by the dividend suspension have become more vocal in demanding a return to payouts. Societe Generale Chairman Lorenzo Bini-Smaghi and his counterpart at Banco Santander SA, Ana Botin, have warned that the ban could backfire by making loans more expensive and even cutting banks off from funds provided by investors.Sibley acknowledged that banks need to be able to pay dividends to access capital markets. Still, “some of the lobbying is a little tone deaf, especially with the level of fiscal and regulatory support that has gone into the economy,” he said.Many banks have seen their share prices slump this year, especially when compared with the U.S., where the Federal Reserve only demanded a cap on capital returns.‘Middle’ Ground“We didn’t ban dividends, we expressed our view on them and I think that’s as far as we can go this time,” Sibley said. “You have to think about how would we implement something that is practical and will stand some degree of challenge. I think that’s where we’re having the debate.”Several watchdogs and senior monetary policy officials favor allowing strong banks to resume payouts early next year, according to people familiar with the matter. ECB supervisory board members have discussed whether they can lift the ban just for the best-capitalized lenders without risking legal challenges from weaker ones, said the people, who asked not to be named because the deliberations are private. Capping dividends, potentially at 25% of a bank’s annual profit, is another option that’s been discussed, the people said.A spokeswoman for the ECB declined to comment on those discussions.Sibley said that taking such a case-by-case approach is complicated because it encourages banks to prioritize investors’ short-term interests over their longer-term financial health. It also risks disclosing non-public information about how the ECB views the governance failings of certain lenders, he said.“That leads to another collective action problem or system-wide problem versus the individual incentive,” he said. “Overall, I think we’d be better off waiting. Practically, I don’t know how that’s going to be achievable so we’re going to have to come up with something that sits in the middle.”(Updates with lobbying in 10th paragraph, ECB deliberations in 14th)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Organization for Security and Cooperation in Europe, which includes Russia and the United States and other former Cold War foes, formally agreed on Friday to fill four of its top jobs with new faces, ending months of deadlock and bickering. The 57-nation OSCE is best known for its election observation work and its monitoring mission in eastern Ukraine, and is often involved in diplomacy around regional conflicts. Consensus was reached on four new candidates, headed by Helga Schmid of Germany, who is currently secretary general of the European Union's foreign policy office.
Three of Austria's nine provinces on Friday kicked off a national effort to test as much of the population as possible before Christmas, to limit infections when families meet. Apparently inspired by a similar but more coercive effort in neighboring Slovakia, conservative Chancellor Sebastian Kurz announced the voluntary "mass testing" plan three weeks ago. Vienna and the western, Alpine provinces of Tyrol and Vorarlberg began their additional testing on Friday.
The Minnesota Twins and closer Taylor Rogers agreed to terms Thursday on a $6 million, one-year contract, according to a person with knowledge of the deal.
From air fryers to Airpods to cozy (and chic) cardigans, these are 2020's best gift ideas for the women in your life. She will thank you later.
The "Vision Care: Global Markets" report has been added to ResearchAndMarkets.com's offering.
TR-1: Standard form for notification of major holdingsNOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: ONESAVINGS BANK PLC1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer2\. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rightsX An acquisition or disposal of financial instrumentsAn event changing the breakdown of voting rightsOther (please specify)iii:3\. Details of person subject to the notification obligationiv Name ELEVA CAPITAL SAS City and country of registered office (if applicable) FRANCE 4\. Full name of shareholder(s) (if different from 3.)v Name ELEVA UCITS FUND City and country of registered office (if applicable) LUXEMBOURG 5\. Date on which the threshold was crossed or reachedvi: 30/11/2020 6\. Date on which issuer notified (DD/MM/YYYY): 04/12/2020 7\. Total positions of person(s) subject to the notification obligation% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) Total of both in % (8.A + 8.B) Total number of voting rights of issuervii Resulting situation on the date on which threshold was crossed or reached 0% 0% 0% 0Position of previous notification (if applicable) 2.322% 0.681% 3.003% 8\. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii A: Voting rights attached to shares Class/type of shares ISIN code (if possible)Number of voting rightsix% of voting rights Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) GB00BM7S7K96 0 0% SUBTOTAL 8. A00% B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR220.127.116.11 (a)) Type of financial instrumentExpiration datexExercise/ Conversion PeriodxiNumber of voting rights that may be acquired if the instrument is exercised/converted.% of voting rights SUBTOTAL 8. B 1 B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR18.104.22.168 (b)) Type of financial instrumentExpiration datexExercise/ Conversion Period xiPhysical or cash settlementxiiNumber of voting rights % of voting rights CFDN/AN/ACash-settlement 0 0% SUBTOTAL 8.B.2 0 0% 9\. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)X Namexv% of voting rights if it equals or is higher than the notifiable threshold% of voting rights through financial instruments if it equals or is higher than the notifiable thresholdTotal of both if it equals or is higher than the notifiable threshold Eleva Capital Partners UK Limited ELEVA CAPITAL SAS0%0%0% 10\. In case of proxy voting, please identify: Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held 11\. Additional informationxvi ELEVA CAPITAL SAS, a French asset manager, holds through the portfolios it manages 0% of ONESAVINGS BANK PLC. Place of completionLondon Date of completion04/12/2020
The House is set to vote on marijuana legalization at the federal level Friday, though the bill is expected to come up short in the Senate.
(Bloomberg) -- Boutique women’s clothing chain Francesca’s Holdings Corp. filed for bankruptcy after the coronavirus pandemic accelerated its sales drop.The Houston-based company on Thursday sought Chapter 11 protection in U.S. Bankruptcy Court in Delaware with plans to sell the business, according to a statement. TerraMar Capital LLC or an affiliate has agreed to become the stalking-horse bidder in a bankruptcy auction, and Francesca’s existing lender, Tiger Finance LLC, has committed to provide $25 million of debtor-in-possession financing, the retailer said.“Implementing this process allows Francesca’s to address our lease obligations and seek a new investor that can see Francesca’s into the future,” Andrew Clarke, chief executive officer, said in the statement. Other potential bidders are studying the company, the chain added, with a target of Jan. 20 for completing a sale.Francesca’s joins a growing list of clothing retailers seeking to reorganize under court protection amid the pandemic. About three dozen have done so this year. Bloomberg reported Francesca’s pending filing last week.Shuttered StoresThe bankruptcy is another blow for retail landlords, whose struggling tenants have been withholding rent or filing for Chapter 11 protection. Shopping center owners listed as creditors in Francesca’s court case include Simon Property Group Inc. and Tanger Properties LP, according to court records.Francesca’s temporarily closed all of its stores in March and began reopening them in April, the company said in its first-quarter earnings call. But net sales fell 50% in the first quarter, raising doubt about its ability to survive.Its problems predate the pandemic’s disruption. It posted two years of losses and scrapped a strategic review last year after top executives departed. Francesca’s named Clarke as its CEO in February after a delayed search. Clarke earlier headed the Loft chain of Ascena Retail Group Inc., which has also made a trip to bankruptcy court this year.Francesca’s last month said it planned to shutter about 140 of its 700 stores and added late Thursday that more closings might be necessary. Some 558 stores remain open, the company said.The first store opened in Houston in 1999, touting its frequently changing inventory. Its stores in malls and on main streets cater to 18- to 35-year-old shoppers, featuring apparel, accessories and gifts.Francesca’s stock fell as the pandemic struck and retailers struggled to stay solvent. Its filing follows bankruptcies this year by merchants including J.C. Penney Co. and Century 21 Department Stores.The case is Francesca’s Holding Corp., 20-13076, in U.S. Bankruptcy Court in the District of Delaware. To see the docket on Bloomberg Law, click here.(Updates with details throughout)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.