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Archive of posts published in the category: tduxvaye

GS: Falling Fuels Prices Add to Coal Glut

first_img FacebookTwitterLinkedInEmailPrint分享James Paton for Bloomberg News:Slumping global coal and liquefied natural gas prices will be under further pressure as rising Indian coal production exacerbates a glut of power-generation fuel, according to Goldman Sachs Group Inc.The prospect of higher output from India, which is forecast to overtake China as the world’s largest importer of thermal coal, will likely cause a 10 percent contraction in seaborne trade of the fuel by 2020, the bank’s analysts including Christian Lelong wrote in a report dated Feb. 15. The oversupply of coal and gas and weakening electricity demand prompted Goldman to lower its price forecasts for thermal coal and spot liquefied natural gas in east Asia and Europe for the next three years.The first LNG shipments from the U.S. expected this year will add to a wave of new supply, while the coal industry is languishing as nations take steps to cut pollution and utilities face pressure to close aging power plants. Spot LNG in Singapore has fallen 22 percent in the past year, assessments from Singapore Exchange Ltd. show, and coal at Australia’s port of Newcastle, an Asian benchmark, has tumbled 30 percent over that period, according to data from Globalcoal.“The impact of rising production in Indian coalfields will be felt halfway around the world as newly commissioned LNG facilities in the Gulf of Mexico struggle to compete in a world awash with fuel,” the analysts wrote in the report. “Lower coal prices will drag LNG prices down via greater competition in the fuel mix.”Efforts by the Indian government to streamline the process of building new coal mines and opening the industry to private investment should lift production growth rates in the long term, the analysts wrote in the report. Even if the country misses its output targets, production expansion will outpace domestic consumption growth, according to the analysts.The bank lowered its price outlook for spot LNG in Asia this year by 15 percent to $5.17 per million British thermal units and by 11 percent next year to $4.63 per million Btu. It cut its thermal coal forecast for both this year and next by 12 percent each to $48 and $46 a metric ton, respectively.The bank also downgraded its long-term coal price outlook to $42.50 a ton.“Unlike most other commodities, thermal coal is unlikely to experience another period of tightness ever again because investment in new coal-fired generation is becoming less common and the implied decline in long-term demand appears to be irreversible,” the analysts wrote.Full article: Goldman Sees Indian Coal Worsening Glut in World Awash in Fuel GS: Falling Fuels Prices Add to Coal Glutlast_img read more

German renewable generation tops 100 billion kilowatt-hours for first time

first_imgGerman renewable generation tops 100 billion kilowatt-hours for first time FacebookTwitterLinkedInEmailPrint分享Reuters:German power production in the first half of 2018 from renewable energy totaled 104 billion kilowatt hours (kWh), 9.5 percent more than in the same period of 2017 and was above 100 billion for the first time, utility E.ON said on Monday.Citing inhouse analysts who supply data to E.ON’s power sales units, the company said that, looking back over three years, the increase over the six months had been 33 percent.The 2018 total included 55 billion kWh of wind power, 21 billion kWh of solar power, 20 billion kWh of power from biomass and 8 billion kWh of hydroelectric output. Wind power output in the first half 2017 had amounted to 48 billion, solar 20 billion, biomass 20 billion and hydro 7 billion kWh.The increases reflect the expansion of wind and solar power installations under Germany’s long-term strategy towards a low-carbon economy and also how the exploitation of weather patterns worked out.E.ON noted that while the bulk of production is still fed into public grids and therefore statistically counted, there are increasing numbers of photovoltaic units that produce for consumption in private homes, helped by storage batteriesMore: German renewables up 9.5 percent in first half, above 100 billion kWh – E.ONlast_img read more

Seattle-area nursing home unable to test 65 workers with COVID-19 symptoms

first_img“We would like more kits to test employees,” Life Care Center spokesman Tim Killian told reporters, adding he did not know why they had not been forthcoming. “We’ve been asking the various government agencies that have been supplying us with test kits.”Twenty-six of the nursing home’s 120 patients have died since Feb. 19, with 13 of 15 autopsies carried out so far showing that the coronavirus was the cause. Of the 53 residents still in the facility, results for 31 out of 35 have so far come back positive for the coronavirus.The outbreak has shown how quickly the coronavirus spreads through elderly residents with weak immune systems and underlying health conditions living in close quarters.“We’ve had patients who, within an hour’s time, show no symptoms to going to acute symptoms and being transferred to the hospital,” Killian told a news conference on Sunday. “And we’ve had patients die relatively quickly under those circumstances.” Topics : Two other nursing homes in the greater Seattle area have reported that at least two residents and one staff member have the virus.Killian said he was not sure whether nurses who worked at Life Care Center Kirkland also worked shifts at other nursing homes in the Seattle area before the outbreak came to light over a week ago.The University of Washington School of Medicine said on Monday it could test all Life Care staff. The lab’s current testing is running at about 500 specimens a day, but it has capacity for over 1,000 tests a day.“We’re happy to perform testing if they can get samples and send them through the University of Washington Department of Laboratory Medicine,” said Alex Greninger, assistant director of UW Medicine Clinical Virology Laboratories.He did not know why Life Care had not received kits, but said a general reason why testing was not higher was a shortage of people to pick up specimens and bring them to his university lab.center_img The Seattle-area nursing home at the epicenter of the US coronavirus outbreak said on Monday it had no kits to test 65 employees showing symptoms of the virus that has killed at least 13 patients at the long-term care center.The staffers, representing more than a third of the Life Care Center’s 180 employees, are out sick with symptoms resembling the coronavirus and a federal strike team of nurses and doctors is helping care for 53 patients remaining in the center.With the Kirkland, Washington, home accounting for over half of all coronavirus deaths in the United States, and all its patients tested, it was unclear why it had not been given kits for staff even as the University of Washington offered to process tests.last_img read more

Buy a $5 ticket to win a $2.1 million Kirra prize home

first_imgThe RSL Art Union’s latest property is a house-sized apartment at Kirra worth $2.1 million.A $2.1 MILLION Kirra apartment with sweeping ocean views is the RSL Art Union’s latest prize home.The prize includes the three-bedroom beachfront residence on Haig St as well as furniture and electrical appliances worth almost $125,000.The 376sq m apartment features views stretching to Surfers Paradise and a kitchen complete with high-end appliances.All three bedrooms feature an ensuite and large built-in robes while the main bedroom offers views of the water from both its bed and bath.No expense has been spared in the interior of this Kirra prize home.RSL Art Union general manager Tracey Bishop said the apartment offered a luxurious lifestyle most people could only dream of.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North10 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“With ticket prices starting at just $5 you don’t need to be a millionaire to have a punt onmaking this fantasy come true,” she said.“A second prize of $10,000 in gold bullion and a third prize of $5000 in gold bullion is also upfor grabs.”Unlike other RSL Art Union prize homes this apartment won’t be open to the public.Tickets are on sale until May 9 at or by phoning 1300 775 888.The prize will be drawn on May 17. All money raised goes towards helping veterans and their families.You could win a beachfront lifestyle in the heart of Kirra for just $5. Soak up that view.last_img read more

Fed takes more hawkish turn, but all depends on ‘Trumponomics’

first_imgFour FOMC members seemed willing to place at least a modest bet that “Trumponomics” would justify three hikes instead of two in 2017, he said.Nick Gartside, international CIO for fixed income at JP Morgan Asset Management, said the Fed’s rate increase was a welcome move to policy normalisation.“Perhaps more importantly, the Fed also acknowledged the new reality of fiscal policy in the driving seat by edging up its positive assessment of the labour market and the economy,” he said. He predicted the market would price in at least four rate hikes for next year – from currently expecting two hikes – and a 10-year US Treasury yield of 3.5% by the end of next year.Neil Williams, group chief economist at Hermes Investment Management, said the move yesterday confirmed the Fed would remain the test case for whether any central bank could normalise rates.“We expect it to try, but fail, with the funds target peaking out in 2017 at just 1% – way lower than the near 3% in the Fed’s own ‘dot plot’ rate assumptions,” he said.Loose fiscal policy will come on top of – not instead of – a loose monetary stance, he said.“First, it could be a year of two halves,” Williams said. “The likely short-term growth stimulus from Mr Trump’s sizeable fiscal expansion could then be muted by the threat of widespread protectionist policies – at first locally, then spreading internationally.”Rick Rieder, CIO of fundamental fixed income at BlackRock and co-manager of fixed income global opportunities, said the quarter-point rate hike, although priced in, reflected a broader global policy evolution, and that there was a modestly hawkish tilt to Committee member rate projections for the years ahead.“Overall, the hallmarks of this new policy and market regime are clearly reflation, inflation and greater optimism that a more productive balance between growing fiscal and receding monetary policy stimulus can be found,” he said.Thanos Bardas, head of interest rates and sovereigns, global investment-grade fixed income, at Neuberger Berman, described the rate increase as a “happy hike”, coming as it did against the backdrop of strong economic data and record market highs – as opposed to the rate hike in 2015, when the background was “grim”.“The Fed is pleased about economic progress, the potential for rate normalisation and a narrowing of its expectations gap with the market,” he said.Bardas said that, despite the modest acceleration in pacing, the Fed was likely to take a gradual approach over the next few quarters.“There’s been a lot of talk about fiscal stimulus – which some board members took into account in raising rate expectations – but nothing has actually happened yet, and resulting growth could be more stingy than investors expect,” he said.Ken Taubes, head of US investment management at Pioneer Investments, said he found it interesting that FOMC economic projections did not reflect any big changes from their September levels – apart from one extra rate hike in 2017.“The projections were largely unchanged despite the dramatic post-Trump election rally in equity markets, and sharp increases in Treasury yields, inflation expectations and the US dollar,” he said.“While the Fed will not change its forecast until it sees the impact of Trump’s policies, there is a high likelihood that Trump’s policies will deliver stronger economic growth, accompanied by higher inflation and, potentially, higher deficits.”Larry Hatheway, GAM chief economist and head of GAM Investment Solutions, agreed the overall message from the Fed was more hawkish than expected but found it notable that its official statement had not mentioned the widely expected US fiscal expansion or economic deregulation.“As a consequence, should those factors materialise, the Fed may have to further lift its assessments for US growth, inflation and the likely path of interest rates,” he said. Yesterday’s rate hike by the US Federal Reserve was entirely expected by the markets, but the monetary policymakers did signal that their action would take a more hawkish tone from now on, according to economists and strategists.But whether the 12 members of the reserve’s Federal Open Market Committee (FOMC) will be able to carry out their intended normalisation of monetary policy all depends on how the economic policies of Donald Trump materialise once his term as US president begins next year, many agreed.Richard Clarida, global strategic adviser at PIMCO, said: “While the Fed did hike its target for the federal funds rate to a range of 0.5% to 0.75%, the real message was delivered by the ‘dot plot,’ which moved unmistakably in the hawkish direction for 2017.The dot plot is part of the FOMC’s summary of economic projections and shows how each meeting participant thinks the fed funds rate should develop.last_img read more

Pension funds call on banks to step up climate-related reporting

first_imgOne of the UK’s leading auto-enrolment pension funds and several Swiss pension schemes are part of a $1.8trn (€1.5trn) institutional coalition calling on banks to supply more robust and relevant information about climate-related risks and opportunities.The investors are writing to the chief executive officers of 60 of the world’s largest banks.The letter was coordinated by responsible investment campaign group ShareAction and Boston Common Asset Management.It comes amid a growing desire among asset owners and asset managers for more robust climate-related disclosures and risk management from multiple industries. This is in part fuelled by the recent publication of recommendations by the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).As the TCFD’s framework is voluntary, “progress depends on investors pressing for action”, said a statement about the investor campaign.European asset owners putting their names to the letters include the £2bn (€2.2bn) National Employment Savings Trust (NEST) and the £3.8bn Environment Agency Pension Fund in the UK, and Swiss multi-employer funds Caisse Inter-Entreprises de Prévoyance Professionnelle and Nest Sammelstiftung, with €5.5bn and €2.1bn assets under management, respectively. Finland’s €22bn Elo Mutual Pension Insurance and Swedish pensions and insurance firm Folksam are other European asset owners in the coalition. Asset managers supporting the campaign include Aegon, Candriam, and Storebrand.Roland Bosch, associate director for engagement at Hermes EOS, the stewardship arm of Hermes Investment Management, said: “We believe that the banking sector can do more to expand its disclosure of how climate risks and opportunities are being assessed and managed.”Isabelle Cabie, global head of responsible development at Candriam Investors Group, said: “As a result of climate change and the low-carbon transition, banks now face risks and opportunities that are real, wide-ranging, and material to investors.“As long-term investors, better disclosure of climate risk allows us to judge how specific banks are performing compared to their peers, and so we ask that banks pay heed to this important call from the investor community.”The letter calls for more robust and relevant climate-related disclosure in four key areas: strategy and implementation, risk assessments and management, low-carbon banking products and services, and banks’ public policy engagements and collaboration with other actors on climate change.Banks are exposed to climate change-related risks and opportunities through their lending and other financial intermediary activities as well as through their own operations. Setting out its reporting guidance for banks, the TCFD said that that “investors, lenders, insurance underwriters, and other stakeholders need to be able to distinguish among banks’ exposures and risk profiles so that they can make informed financial decisions”.In June the Bank of England announced it was extending its work on climate-related risks to the regulated UK banking sector, having initially focussed on the insurance sector.last_img read more

No such thing as a ‘good divorce’, says US study

first_imgThe Christian Institute 5 September 2014The negative impact of divorce on children is the same whether parents remain amicable or not, according to a new study in the US.Researchers asked 270 parents who were divorced or separated between 1998 and 2004 about how their break up had affected the youngest child in their family.The study found that children of divorced parents were more likely than others to have behavioural problems, mental health difficulties, and were at a greater risk of performing poorly at school.ProblemsBut the children’s problems were not improved regardless of whether the parents got on well with each other or continued to argue after the divorce, according to the research.The paper’s abstract said: “Despite the expectation that children fare better if their divorced parents develop a cooperative coparenting relationship, the authors found that parents’ reports of their children’s internalizing and externalizing behaviors and their social skills did not significantly differ by type of post-divorce coparental relationships.” read more

6 DOCTORS CONTRACT COVID: St. Paul’s Hospital of Iloilo on lockdown

first_imgOf the region’s 274 cases, Pulmones said, 125 already recovered while 11 died, bringing the active cases to 125. “Our staff selflessly and professionally care for and attend to the needs of our patients, notwithstanding the health risks that are inherent in their chosen profession. We salute them, especially our SPHI COVID team, doctors and personnel for their professionalism, dedication, and compassion. The six doctors were part of the 26 new cases that the Department of Health (DOH) Region 6 confirmed yesterday and brought to 274 the total cases in Western Visayas.The COVID-19-positive hospital doctors were the following: ‘WE SHALL OVERCOME’ Contact tracing was immediately launched by the hospital in coordination with the City Health Office, he said. The doctors may have contracted the virus from a patient at the Intensive Care Unit (ICU), the source said. The virus-infected physicians included five resident doctors (four Internal Medicine and one Surgery) and a Family Medicine consultant, according to a hospital source who asked not to be named for lack of authority to speak on the matter. Here’s the breakdown of the 274 cases – Aklan, six; Antique, 14; Capiz, six; Guimaras, zero; Iloilo province, 24; Negros Occidental, three; Bacolod City, 11; Iloilo City, 25; and repatriates, 185./PN * 31-year-old male from Jaro district (Patient No. 265)* 29-year-old male from Mandurriao district (Patient No. 266)* 29-year-old female from Jaro (Patient No. 267)* 27-year-old from Oton, Iloilo (Patient No. 268)* 42-year-old male from Jaro (Patient No. 269)* 53-year-old male from La Paz (Patient No. 270)“I have coordinated with the hospital director. They are observing all the necessary protocols to ensure the safety of everyone in the hospital,” said Treñas. St. Paul’s Hospital of Iloilo is a tertiary level training general hospital with a capacity of 265 beds. It was founded by the religious order Sisters of Saint Paul of Chartres from France in 1911. Nobody’s allowed to enter the hospital except for healthcare workers with scheduled duties. The hospital, however, decided to temporarily close its Operating Room, Outpatient Department and Emergency Room, said Villa. Hospital staff yet to go home yesterday were advised to stay put in the hospital in line with the lockdown for their COVID tests today. Those who have gone home already yesterday were told to strictly observe home quarantine. In a statement, the SPHI management assured the public it had “protocols and processes to address the results of the said tests.” “Our protocols for infection control have always been in place and strictly followed. These are in accordance with accepted standards to address the COVID-19 pandemic to ensure the safety of everyone working, confined in, or visiting the hospital. “Positive results are managed and contact tracing is done by the SPHI COVID Task Force in accordance with government guidelines. Here’s the hospital’s official statement in full: “We have always strictly complied with the Department of Health (DOH) directives to conduct reverse transcription – polymerase chain reaction (RT-PCR) testing among all our healthcare workers. We have protocols and processes to address the results of the said tests. Infection control protocols were also being strictly followed “to ensure the safety of everyone working, confined in, or visiting the hospital,” it added. “With God’s grace we shall all overcome COVID-19. God bless us all.” According to Atty. Roy Villa, spokesperson of the regional inter-agency task force for COVID-19, notwithstanding the lockdown the hospital remains in operation; confined patients are assured of continued medical care. Policemen are posted at the entrance of St. Paul’s Hospital of Iloilo on General Luna Street. The hospital went on a lockdown last night as a precautionary measure against the spread of coronavirus disease. St. Paul’s Hospital of Iloilo is a tertiary level training general hospital with a capacity of 265 beds. It was founded by the religious order Sisters of Saint Paul of Chartres from France in 1911. IAN PAUL CORDERO/PN WV CASES SURGE      * 23-year-old female from Himamaylan, Negros Occidental, LSI* 24-year-old female from Bacolod City, LSI* 48-year-old female from Sibunag, Guimaras, LSI* 24-year-old female from Bacolod City, LSI* 29-year-old male from Bacolod City, LSI* 46-year-old female from Bacolod City, LSI* 28-year-old female from Pototan, Iloilo, LSI* 28-year-old male from Zarraga, Iloilo, LSI* 27-year-old male from Batad, Iloilo, LSI* 27-year-old male from Zarraga, Iloilo, LSI* 31-year-old male from Estancia, Iloilo, LSI* 28-year-old male from Bacolod City, LSI* 28-year-old male from Bacolod City, LSI* 25-year-old male from San Dionisio, LSI* 28-year-old male from Passi City, Iloilo, OFW* 39-year-old female from City Proper, Iloilo City, OFW* 53-year-old female from Bacolod City, LSI* 22-year-old female from Bacolod City, LSI* 21-year-old male from Bacolod City, LSI* 61-year-old male from Bacolod City, OFWAll these patients were asymptomatic and under facility quarantine. ILOILO City – St. Paul’s Hospital of Iloilo (SPHI) on General Luna Street went on lockdown last night after six of its doctors contracted the virus SARS-CoV-2 which causes the coronavirus disease 2019 (COVID-19).  All asymptomatic, they were immediately quarantined, according to Mayor Jerry Treñas. The ICU patient’s initial rapid test was negative for SARS-CoV-2. In the subsequent reverse transcription – polymerase chain reaction test conducted, however, the patient was positive for the virus, said the source. The six hospital doctors were part of the 26 new cases recorded in Western Visayas – the highest number of cases recorded in a single day, according to Dr. Ma. Sophia Pulmones, chief of DOH Region 6’s Local Health Support Division. These brought to 274 the total cases in the region.The 20 other new cases recorded were the following (either locally stranded individuals or LSIs or repatriated overseas Filipino workers or OFWs):last_img read more

Titania tops Weld entries

first_img The filly, who sports the same Christopher Tsui colours as her sire and is also trained by John Oxx, got off the mark at Leopardstown earlier this month after a promising debut at the same track. The Group Three contest over seven furlongs is run in memory of Charlie Weld and his son Dermot is represented by Tarfasha. The Teofilo filly opened her account at the Galway Festival. Aidan O’Brien has two hopefuls in Dazzling and Minorette, as does Jim Bolger with Chroussa and Intense Debate. The Charlie Hills-trained Queen Catrine, runner-up in the Lowther Stakes, and Stealth Missile, from Clive Brittain’s stable, are the two British entries. Avenue Gabriel, Chicago Girl, Colour Blue, Diamond Stilettos and Witches Brew complete the list. My Titania, a daughter of 2009 champion racehorse Sea The Stars, figures among 13 possibles for the CL Weld Park Stakes at the Curragh on Sunday.center_img Press Associationlast_img read more

McLeod to lead Jamaican hurdles delegation

first_imgWorld and Olympic champion Omar McLeod will lead a strong trio of Jamaican hurdlers competing in the 110-metre hurdles at the Shanghai Diamond League on May 12. McLeod, the best sprint hurdler in the world over the past two seasons, is going for his third straight win in the Chinese city.The 23-year-old McLeod, who was missing for Jamaica at the World Indoors in Birmingham and at the Commonwealth Games in Australia, produced the fastest time in the world to win the Shanghai meeting’s traditional curtain closer in 2016, clocking 12.98 seconds to grab the title ahead of two world champions and the world record holder.In Shanghai in 2018, he will be up against a deep field that includes two compatriots Ronald Levy, the Commonwealth Games gold medalist and Hansle Parchment, the silver medalist as well as 2015 world champion Sergey Shubenkov, who was second behind the Jamaican at the London World Championships, and the 2012 Olympic champion and world record holder, Aries Merritt, who is looking for his first Shanghai victory on his seventh appearance at the meeting.Meanwhile, three Jamaicans are expected to start in the women’s 400 hurdles, including Commonwealth Games champion Janieve Russell, 2017 World Championship bronze medalist Ristananna Tracey and 2016 Rio Olympics finalist Leah Nugent.Two-time African champion Wenda Nel of South Africa, who won bronze in Australia has also been included in the lineup.last_img read more