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At U.N., U.S. tells Russia it’s isolating itself by backing Assad

UNITED NATIONS ( ) – The United States told Russia at the United Nations on Wednesday that it is isolating itself by continuing to support Syrian President Bashar al-Assad, while Britain said its scientists found sarin was used in a deadly toxic gas attack on Syrian civilians last week.

Russia is set to block a push by Western powers at the United Nations later on Wednesday to bolster support for international inquiries into the April 4 toxic gas attack in Syria. It will be Moscow’s eighth veto in support of the Assad government since the Syrian war began six years ago.

“To my colleagues from Russia – you are isolating yourselves from the international community every time one of Assad’s planes drop another barrel bomb on civilians and every time Assad tries to starve another community to death,” U.S. Ambassador to the United Nations Nikki Haley, told the U.N. Security Council.

During a heated Security Council meeting, Russia’s deputy U.N. envoy Vladimir Safronkov told the 15-member body that Western countries were wrong to blame Assad for the attack in the town of Khan Sheikhoun.

“I’m amazed that this was the conclusion. No one has yet visited the site of the crime. How do you know that?” he said.

The attack prompted the United States to strike a Syrian air base with cruise missiles and worsened relations between the United States and Russia.

President Vladimir Putin said on Wednesday trust had eroded between the two countries under President Donald Trump, as Moscow delivered an unusually hostile reception to Secretary of State Rex Tillerson in a face-off over Syria.

Britain’s U.N. Ambassador Matthew Rycroft told the Security Council that samples taken from the site of the gas attack, in a rebel-held area of northern Syria, have tested positive for the nerve gas sarin.

He accused Russia of siding with “a murderous, barbaric criminal, rather than with their international peers.”

Safronkov, who demanded Rycroft look at him while he was speaking, responded: “I cannot accept that you insult Russia.”

Haley also accused Iran of being “Assad’s chief accomplice in the regime’s horrific acts,” adding: “Iran is dumping fuel on the flames of this war in Syria so it can expand its own reach.”

Western powers blame the gas attack, which killed scores of civilians – many of them children – on Assad’s forces. Syria’s government has denied responsibility for the attack, which prompted a U.S. strike on a Syrian air base.

Syrian U.N. Ambassador Bashar Ja’afari said Syria had sent dozens of letters to the Security Council, some detailing “the smuggling of sarin from Libya through Turkey on a civilian air plane by using a Syrian citizen.”

“Two litres of sarin were transported from Libya through Turkey to terrorist groups in Syria,” he said, adding that the government does “not have these weapons.”

U.N. Syria mediator Staffan de Mistura warned the Security Council on Wednesday that fragile progress in peace talks was now “in grave danger.”

(This上海夜生活 version of the story has been refiled to fix garbled words in first paragraph)

UK PM frontrunner fends off court case over Brexit campaign bus claim

LONDON ( ) – Judges at London’s High Court on Friday threw out an attempt to prosecute Boris Johnson, the frontrunner to succeed Theresa May as prime minister, for allegedly lying about the financial benefits of Brexit during the 2016 EU referendum campaign.

Last week, a magistrate agreed to issue summonses for Johnson to face charges of misconduct in public office over a claim emblazoned on his bright red “Leave” campaign bus that Britain would be 350 million pounds ($446 million) a week better off outside the EU.

Opponents had argued that the slogan was deliberately misleading and it became symbolic of the divisions caused by the referendum, which saw Britons vote 52-48% to leave the European Union.

Marcus Ball, 29, who described himself as a social enterprise founder, brought the private prosecution against Johnson in February which led to last week’s decision.

But at a judicial review hearing on Friday at the High Court, Johnson’s lawyer Adrian Darbishire said the magistrate had either erred in law or provided the wrong legal test in allowing the case to go ahead.

Darbishire said the only rational conclusion was that the case was politically motivated and therefore without merit.

The High Court judges agreed the summonses should be quashed, saying they would give their reasons at a later date.

The flamboyant Johnson, who did not attend Friday’s hearing, is the favorite among Conservative lawmakers hoping to replace May as party leader and therefore prime minister.

The case could potentially have damaged his bid to replace May, who stepped down as Conservative leader on Friday although she will remain prime minister until a successor is selected.

“POLITICAL PROSECUTION”

Friday’s challenge, brought in the former foreign minister’s full name – Alexander Boris de Pfeffel Johnson – examined whether a politician could be accused of criminal misconduct over statements made during political campaigning.

“Standing on the hustings is not the exercise of state power, and doing something naughty on the hustings is not an abuse of state power,” said Darbishire.

He said it was not for the police or juries to stray into the sphere of political debate and that it was for the electorate to decide on the truth of claims.

Ball’s overt opposition to Brexit and desire to h上海夜生活ave it stopped also showed the case had no legal merit, Darbishire added. “This is realistically, plainly speaking, a political prosecution,” he said.

After the verdict, Ball, who has raised more than 350,000 pounds through crowd-funding to pursue the prosecution, said he would mull whether to appeal, saying his case was not about stopping Brexit.

“I will not give up until I believe that all possible options are exhausted,” he said.

“If you are an elected representative and you are talking about people’s money … it’s not correct for a member of parliament to lie to everybody about that.”

As for the 350 million claim itself, Johnson’s lawyers said he denied acting dishonestly in any way and the figure remained contentious.

“It is still being adhered to today,” Darbishire said.

($1 = 0.7842 pounds)

Mexico central bank chief flags concern over ratings setbacks

MEXICO CITY ( ) – Mexico’s government must address concerns flagged by rating agencies over the sustainability of the country’s finances following debt downgrades last week, Mexican Central Bank Governor Alejandro Diaz de Leon said on Tuesday.

Fitch last week cut Mexico’s sovereign credit rating and then became the first major ratings agency to downgrade the debt of state oil company Pemex to “junk” status, in a major setback for President Andres Manuel Lopez Obrador.

Fellow ratings agency Moody’s also lowered its outlook for Mexico to negative, adding to pressure on the peso.

Speaking at a banking conference in Mexico City, Diaz de Leon said the ratings developments were a risk factor for the Mexican economy that needed to be tackled.

“This has happened at times in the past, and it was dealt with, and let’s hope this is the case (now) and that it’s not a major worry going forward,” Diaz de Leon said.

The central bank has repeatedly raised concerns about the risks posed to Mexico’s finances by Pemex, which has financial debts of around $106 billion.

Lopez Obrador has vowed to revive the struggling company, pumping extra cash into Pemex to shore it up.

Mexico’s economy contracted by 0.2% quarter-on-quarter in the first three months of the year, and Diaz de Leon said the economic outlook for the coming months was uncertain.

He noted that investment had been sluggish this year but said remittances from abroad were helping to prop up private consumption.

Look上海夜网ing ahead, Diaz de Leon said attracting more investment and improving productivity were among the principal challenges facing Mexico’s policymakers.

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

( ) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the stories related to them.

1/WATCH THOSE CURVES

Moody’s warned this week that a trade war could tip the U.S. economy into recession next year. And U.S. President Donald Trump’s latest decision to hike tariff rates on Chinese goods has possibly brought that risk a bit closer. At least the bond market seems to think so — the yield on three-month U.S. Treasury bills is on the cusp of rising above 10-year yields.

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

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

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

2/ TALK, TWEET, REPEAT

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

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

Negotiations to try to end a 10-month-old trade war between the world’s biggest economies are continuing, and markets have taken heart from China’s decision to stick with the talks. Another factor is China’s central bank, which assured markets it had “rich” policy tools to cope with external uncertainties. Weak economic data can only cement that resolve.

3/OIL SLICK

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

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

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

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

4/NO STICKER SHOCK

Few U.S. data series have been as choppy in recent months as retail sales. December’s drop in core sales was the largest in nearly two decades — only to be followed by an equally large swing to the upside in January. Demand for big-ticket items like cars then pushed the March total to the highest in 18 months.

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

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

The report comes soon after Trump imposed new tariffs on $200 billion of Chinese imports, but it is far too soon to see a meaningful impact from the trade war between the world’s two largest economies. Shoppers will probably not start reacting to sticker shock until the third quarter.

5/ITALIA DEJA VU

Once again it seems there’s good reason to fret over Italy, the euro zone’s third-biggest economy — and one of its most indebted.

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

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

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

The latest bond se上海夜生活论坛ll-off, which took Italian yields to 2.7%, is small compared to the rout a year ago when yields spiked to 3.4%. But who could be blamed for a sense of deja vu?

UPDATE 2-China banks temper April lending as debt worries rise, but all eyes on U.S. trade threat

* April new loans at 1.02 trln yuan vs forecast 1.2 trln yuan

* April M2 money supply up 8.5 pct y/y, in line with forecast

* April TSF at 1.36 trln yuan vs forecast 1.7 trln yuan (Adds analyst quote)

BEIJING, May 9 ( ) – Chinese banks throttled back new lending in April after a record first quarter that sparked fears of more bad loans, but analysts say the central bank will have to keep up policy support for the economy due to escalating trade tensions with the United States.

Global investors are closely watching to see how much more support Beijing injects into the economy to shore up growth. But expectations that it may be moving to a more cautious approach shifted wildly this week after a sudden blowup in U.S.-China ties.

Chinese banks extended 1.02 trillion yuan ($150.16 billion) in net new yuan loans in April, the central bank said on Thursday, well below analysts’ expectations of 1.2 trillion yuan in a poll and March’s surprisingly strong 1.69 trillion yuan.

The credit data was released unexpectedly early, hours ahead of the resumption of last-ditch U.S.-China trade talks and a day ahead of a threatened U.S. tariff increase on Chinese goods. The numbers are usually released between the 10th and 15th of every month.

U.S. President Donald Trump stunned global financial markets on Sunday by announcing the tariff measures, which Beijing later said it will retaliate against. Investors had been betting on news of a trade agreement soon that would relieve pressure on both economies.

While China’s April lending levels have tended to moderate from March in past years, investors had been looking to details of the data for clues on how much more policy easing to expect.

Policy insiders told late last month that China’s central bank is likely to pause to assess economic conditions before making any further moves to ease banks’ reserve requirements, after better-than-expected March growth data reduced the urgency for action.

While the central bank’s easing bias remained unchanged, the sources said it was concerned that pumping too much cash into the economy could reignite bubbles over time, and it wanted to save some of its policy ammunition in case activity deteriorated again.

April’s more modest lending levels suggested Beijing was fine-tuning its policy stance last month, economists at Nomura said in a note.

But they added: “We expect a rebound of money and credit in May.

“The sudden escalation of U.S.-China trade tensions and the recent sharp drop of stock prices could convince Beijing to take further easing measures to bolster confidence and stabilize growth.”

CREDIT GROWTH KEY TO RECOVERY

Thursday’s data also showed that broad M2 money supply in April grew 8.5 percent from a year earlier, in line with market estimates but dipping slightly from March.

Outstanding yuan loans grew 13.5 percent from a year earlier, slightly lower than expectations and March’s 13.7 percent.

Growth of outstanding total social financing (TSF), a broad measure of credit and liquidity in the economy, slowed to 10.4 percent from a year earlier from 10.7 percent in March. TSF growth is a rough gauge of credit conditions.

Total TSF in April fell much more than expected, to 1.36 trillion yuan from 2.86 trillion yuan in March.

Optimism over the outlook for the world’s second-largest economy has improved recently, although preliminary economic data for April showed growth had become more subdued.

But analysts say the Chinese economy is not out of the woods yet, and the chance of reaching a trade deal during Vice Premier Liu He’s visit has declined, adding more uncertainties which might prompt policymakers to take swifter and stronger action.

Top officials have repeatedly vowed not to open the credit floodgates in an economy already saddled with piles of debt – a legacy of massive stimulus during the global financial crisis in 2008-09 and subsequent downturns.

The central bank has cut banks’ reserve requirements five times over the past year,上海夜生活网 and on Monday announced a smaller targeted cut to help cash-strapped smaller firms.

It has also guided money market interest rates lower in various ways, but has not cut benchmark policy rates as it did in the past.

FOREX-Yen surges to 3-month high on fears of U.S. tariffs

* Yen stands tall vs peers as trade woes stoke risk aversion

* Focus on outcome of pivotal US-China talks starting Thursday

* Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh

By Tom Finn

LONDON, May 9 ( ) – The Japanese yen surged to a 3-month high against the dollar on Thursday as investors piled into the safe-haven currency fearing that the U.S.-China trade conflict could escalate.

Two days of trade talks begin in Washington on Thursday and traders are waiting to see whether Chinese and U.S. negotiators can salvage a deal to prevent more U.S. tariff increases.

Currency moves this week in response to a new bout of trade war angst have been fairly muted but Thursday’s jump in the yen – which tends to attract demand in times of political strife and market turmoil – suggested investor nerves are fraying.

The main casualties of the heightened tensions have been the Australian dollar, a proxy for Chinese economic prospects , the U.S. dollar and the offshore Chinese yuan .

The yuan on Thursday fell half a percent to hit a four-month low of 6.838 and was headed for its worst four-day decline in a year.

“It looks very much like a trade deal is almost off the table and that the U.S. will impose new tariffs on Chinese goods tomorrow. Fears in the market are mostly reflected in yu上海夜网an exchange rates,” said Ulrich Leuchtmann, an FX strategist at Commerzbank.

Unlike previous episodes when the dollar benefited from an increase in trade worries, U.S. President Donald Trump’s latest threat to raise tariffs on Chinese imports have prompted market strategists to focus on the corrosive impact on Washington.

The prospects of an escalation in the conflict has seen the yen gain in recent days.

The currency rose 0.3 percent against the dollar at 109.640 yen, a 3-month high, taking its gains to more than 1 percent so far this month.

According to the latest Commodity Futures Trading Commission data, speculators have further raised their net long dollar bets, including those against the yen.

Trump said on Wednesday that China “broke the deal” reached in talks with the United States, and vowed to not back down on imposing new tariffs unless Beijing “stops cheating our workers”.

Shin Kadota, senior strategist at Barclays in Tokyo, said the yen “owes much of its strength to gains made in the cross currency market. ‘Risk on, risk off’ has been the main market driver and the euro has been stuck in range as a result.”

U.S. internet firms ask Trump to support encryption, ease regulations

WASHINGTON ( ) – U.S. internet companies including Facebook Inc and Amazon Inc have sent President-elect Donald Trump a detailed list of their policy priorities, which includes promoting strong encryption, immigration reform and maintaining liability protections from content that users share on their platforms.

The letter sent on Monday by the Internet Association, a trade group whose 40 members also include Alphabet’s Google, Uber and Twitter, represents an early effort to repair the relationship between the technology sector and Trump, who was almost universally disliked and at times denounced in Silicon Valley during the presidential campaign.

“The internet industry looks forward to engaging in an open and productive dialogue,” reads the letter, signed by Michael Beckerman, president of the Internet Association, and seen by .

Some of the policy goals stated in the letter may align with Trump’s priorities, including easing上海夜生活网 regulation on the sharing economy, lowering taxes on profits made from intellectual property and applying pressure on Europe to not erect too many barriers that restrict U.S. internet companies from growing in that market.

Other goals are likely to clash with Trump, who offered numerous broadsides against the tech sector during his campaign.

They include supporting strong encryption in products against efforts by law enforcement agencies to mandate access to data for criminal investigations, upholding recent reforms to U.S. government surveillance programs that ended the bulk collection of call data by the National Security Agency, and maintaining net neutrality rules that require internet service providers to treat web traffic equally.

The association seeks immigration reform to support more high-skilled workers staying in the United States. Though Trump made tougher immigration policies a central theme of his campaign, he has at times shied away from arguing against more H-1B visas for skilled workers, saying in a March debate he was “softening the position because we need to have talented people in this country.”

While urging support for trade agreements, the letter does not mention the Trans Pacific Partnership, which Trump has repeatedly assailed with claims it was poorly negotiated and would take jobs away from U.S. workers. The technology sector supported the deal, but members of Congress have conceded since the election it is not going to be enacted.

Trump’s often-shifting policy proposals on the campaign trail frequently alarmed tech companies and sometimes elicited public mockery, such as when Trump called for closing off parts of the internet to limit militant Islamist propaganda.

Trump has also urged a boycott of Apple Inc products over the company’s refusal to help the Federal Bureau of Investigation unlock an iPhone associated with last year’s San Bernardino, California, shootings, threatened antitrust action against Amazon, and demanded that tech companies such as Apple manufacture their products in the United States.

In a statement, Beckerman said the internet industry looked forward to working closely with Trump and lawmakers in Congress to “cement the internet’s role as a driver of economic and social progress for future generations.”

Norway clears way for Euronext to secure Oslo Bors in Nasdaq battle

PARIS/OSLO ( ) – Euronext won approval from Norway’s Ministry of Finance to buy up to 100% of Oslo Bors on Monday, effectively ending a five-month battle with Nasdaq for one of the last independent stock market operators in Europe.

While Euronext has already secured a stake of more than 50% in Oslo Bors, Nasdaq had argued that no takeover should be allowed unless a two-thirds stake was obtained in order to ensure that a buyer would have complete control.

Both had offered 158 Norwegian crowns per share for Oslo Bors, valuing it at around 6.8 billion Norwegian crowns ($779 million), but the view of the Norwegian government was crucial.

“Euronext welcomes the ministry’s clearance to acquire up to 100% of Oslo Bors VPS’s capital and looks forward to completing the next steps to close the transaction by the end of June,” its Chief Executive Stephane Boujnah said on Monday.

“We are extremely satisfied the process is carried out in full respect of Norwegian law,” Boujnah told .

Both Euronext, which runs exchanges in Paris, Brussels, Amsterdam, Lisbon and Dublin, and Nasdaq are looking to expand their portfolios but opportunities are scarce as market operators either already belong to international groups or because their shareholders want to remain independent.

Given technological changes, size has become an important feature as big data allows larger market operators to squeeze costs and reduce transaction fees.

Oslo Bors was one of the last potential target for Euronext in the region where Nasdaq and London Stock Exchange already control several platforms.

Shares in Paris-based Euronext, which is due to release first quarter results this week, traded 1.6% higher at 61 euros.

Nasdaq had won the support of more than a third of Oslo Bors shareholders including the Norwegian market operator’s major shareholders DNB and KLP. The U.S.-based firm had been hoping to block Euronext’s bid.

No such minimum ownership requirement will be imposed however, the Norwegian ministry said in a statement.

DISAPPOINTMENT FOR NASDAQ

Euronext’s CEO said the offer filed by Euronext is open for the shareholders who supported the Nasdaq bid.

He expects them to tender their shares to Euronext now since the offer filed by Nasdaq is unlikely to proceed. “I don’t think Nasdaq intends to be an minority shareholder in Oslo Bors,” Boujnah said.

Nasdaq expressed its disappointment at the decision by the government, and said it would assess its options.

“The decision not to require a two-thirds majority of the shares to be obtained by any person seeking to acquire control of Oslo Bors VPS is disappointing,” Lauri Rosendahl, president of Nasdaq Nordic, said.

Oslo Bors would diversify Euronext’s revenue from shares and derivative trading, given Oslo Bors’ leading position in seafood derivatives as well as oil services and shipping.

Euronext plans to appoint the CEO of Oslo Bors to its managing board, and set up a hub that would supervise all commodities transactions in the Norwegian capital.

“Euronext looks forward to supporting the Norwegian financial and business community, to working constructively with all key 上海夜生活constituents and stakeholders to further drive the success of Oslo Bors VPS,” Boujnah said.

The board of Oslo Bors, which had supported Nasdaq over Euronext, said it would work with the new owner.

“The board of Oslo Bors VPS takes note of the (ministry’s) decision and will work closely with the new majority owner to maintain the company, its business and the employees in the best possible way,” it said in a statement.

($1 = 8.7338 Norwegian crowns)

In Silicon Valley, some Indian Americans shun Clinton after election row

SAN FRANCISCO ( ) – Hillary Clinton, who has long cultivated the Indian-American community for both funds and votes, is tapping into the excitement around the Silicon Valley visit of Indian Prime Minister Narendra Modi this weekend. Next Monday she is holding a presidential campaign fundraiser expected to attract many prominent Californians with ties to India.

    But some Indian-American Democrats from the region have told they won’t be attending the event, in part because they are upset about the way a candidate was treated in a 2014 race for a Silicon Valley congressional seat. Their frustration extends to other Democratic candidates and causes besides Clinton, who wasn’t involved in the race, but ignoring her campaign is a high-profile way to vent.

    Supporters of the candidate, Ro Khanna, an intellectual-property lawyer of South Indian heritage, accuse his opponent, fellow Democrat Mike Honda, of using race-baiting to undermine Khanna. Honda narrowly beat out Khanna, a former trade official in President Barack Obama’s administration, in the election for a seat in the House of Representatives.

    Just weeks before the election, Honda attacked Khanna in a television ad for supporting “companies that send our jobs overseas.” In the same ad, a shadow briefly appeared on Khanna’s forehead that some Khanna supporters interpreted as a bindi, a red dot worn by many Indians but not by Khanna. 

    Khanna’s supporters point out that in 2012 he published  a book on the importance of U.S. manufacturing jobs, and they say that the shadow was an attempt to spark unease among non-Indians. They say the Democratic Party should have intervened to stop what they saw as unfair attacks.

    Honda spokesman Adam Alberti says Khanna’s financial backers included supporters of outsourcing, and no dot was placed, or is visible, on Khanna’s forehead in the ad in question.

    “The issue of racial baiting is both unfounded and is shallow political theater,” said Alberti, adding that as a Japanese-American who was held in an internment camp as a baby during World War II, Honda is especially committed to racial diversity. In March, Honda co-hosted a networking and fundraising event for “Ready for Clinton,” the organization that sought to draft Clinton to run for president.

    Among those who say they aren’t going to Monday’s Clinton fundraiser, or getting involved in other Democratic campaigns out of concern at Khanna’s treatment, is Rahul Roy, a software entrepreneur. “It hurts,” he says. Roy recently hosted a fundraiser for Khanna, who is  running for the seat again in 2016.

    The Clinton campaign says it is concentrating on the large numbers of Indian Americans that back her. “Hillary Clinton is grateful for the broad support she is receiving across the Indian-American and Asian-American and Pacific Islander communities in California and around the country,” a spokesman said. He did not respond to questions from about the disquiet over the 2014 election.

SOCIAL JUSTICE

    Certainly Clinton has been raising funds in Silicon Valley, where donations to her and an organization raising money on her behalf from area technology employees have totaled $1.07 million through June 30, according to the Center for Responsive Politics.

    And some Khanna supporters are raising money for her. Monday’s Clinton fundraiser – which she is due to attend in person – is being hosted in their home by Khanna supporters Kamil Hasan, a venture capitalist, and his wife Talat Hasan, an entrepreneur. Tickets start at $1,000, and it is expected to attract at least 150 donors, according to a person familiar with the event.

    Khanna’s supporters have shown a largesse that any presidential candidate would want to tap into. He has raised $1.25 million through June 30, far more than most congressional candidates, and more than double the $608,上海夜生活000 raised by Honda.

    “Some of the attacks were very xenophobic,” said Naren Gupta, a Khanna donor and co-founder of investment firm Nexus Ventures, who said the party should have stepped in. He stopped short of saying the issue would affect his support for other Democratic candidates. He is not expected at the Hasan fundraiser, according to the person familiar with the event.

Gupta is also co-chairman of the Indo-American Community of the West Coast, which is helping organize Modi’s appearance before a capacity crowd of 18,000 at the SAP Center in San Jose on Sunday.

    Other donors, like Facebook millionaire turned venture capitalist Chamath Palihapitiya, think Khanna should have hit back harder.

    “You’ve got to be willing to take the gloves off and fight,” said Palihapitya, who donated $2,600 to Khanna in the last race and said he planned to support him again this time. He hasn’t made up his mind about who he might support in the presidential race, he said.

Through spokesman Hari Sevugan, Khanna took credit for bringing many South Asians and technology workers into the political arena for the first time. Now, many of those recruits feel alienated, the spokesman said. Khanna himself didn’t comment directly on the 2014 race or its fallout, but in an email said Indian Americans feel strongly about social justice, and the Democratic Party “needs to do a better job recognizing that.”    

RPT-Only way is down: strong bid for negative-yielding KfW bond amid rates stasis

(Repeats Friday story without changes)

* German banks sells 5 bln euros of bonds at -0.267 pct yield

* Euro zone lenders, foreign central banks among buyers

* Deal paves way for other borrowers to do same

By Abhinav Ramnarayan

LONDON, March 15 ( ) – German development bank KfW’s 5 billion euro debt sale, at one of the most deeply negative yields on record for such a deal, is a clear sign investors are resigned to several more years of low interest rates in the euro zone, bankers and analysts said.

Triple-A-rated KfW, whose debt is guaranteed by the German government and often seen as a proxy for German Bunds, sold 5 billion euros of three-year bonds via a syndicate of banks on Tuesday at a yield of minus 0.267 percent.

Negative yields have been a feature of the euro zone bond market since the European Central Bank began stimulus measures to aid the bloc’s recovery from the debt crisis of 2010-2012.

But the KfW deal is one of very few benchmark-sized transactions to price at such a deeply negative level.

“Nobody really expects rising rates, given the statements by the ECB and (U.S. Federal Reserve) and given the economic data we currently get,” said Petra Wehlert, head of capital markets at KfW. “Investors live with what they get, and they feel comfortable enough to buy into negative rates at the short end (of the yield curve).

“Investors have to manage their cash, and if there is no change in environment, the risk is limited. KfW bonds are a Bund surrogate, and portfolio managers need to buy liquid securities,” she added, while上海夜生活网 acknowledging that demand had exceeded KfW’s expectations.

Comparable examples such as the European Investment Bank’s 5 billion euro three-year deal in January 2016 came at the height of the ECB’s now-terminated asset purchase scheme — and yet the yield on that deal was much higher, at minus 0.147 percent.

The fact that KfW was able to price at such a deeply negative yield even after new asset purchases ceased seems to confirm that investors expect the euro zone economy to flat-line for years to come, and that the ECB will be unable to hike rates meaningfully for the foreseeable future.

FEW ALTERNATIVES

Mark Byrne, a syndicate official at TD Securities, which managed the deal alongside BNP Paribas and JP Morgan, said the ECB’s deposit rate of minus 0.40 percent was a clear incentive for banks to invest in such a bond.

But it was not the only reason for the demand, he said: “Not all investors have access to this (deposit facility) — central banks, asset managers and some non-euro zone banks for example. So you must look at their alternative investments.”

He cited the example of three-year German Bunds, trading around minus 0.53 percent, and three-year French government bonds — with a lower credit rating than KfW — trading at minus 0.376 percent.

“So it makes sense (to buy KfW’s bond) if you are a global central bank that needs to hold euros as part of your portfolio,” Byrne said.

As a result, the two biggest types of investor in KfW’s deal were banks, who took 38 percent of the 5 billion euros sold, and central banks, who took 35 percent.

For banks, the deposit rate is a powerful incentive — paying 26 basis points to hold KfW’s debt could be seen as an improvement on paying 40 bps to hold cash at the ECB. Both count towards the regulatory requirement that lenders hold a proportion of assets in liquid and highly rated instruments.

“The high demand from the banks as a sector overall often has to do with regulatory demand,” said Commerzbank rates strategist Rainer Guntermann. “Most investors also suspect the ECB will take some of the supply in the coming weeks.”

Factbox: U.S. Republican 2016 presidential field slips to 16 after Perry quits

( ) – The field of candidates vying to be the Republican Party nominee in the November 2016 U.S. presidential election slipped to 16 after former Texas Governor Rick Perry quit the race last week.

Candidates in the still-crowded field will meet on Wednesday at the next debate, hosted by CNN with 11 of the contenders.

For the latest /Ipsos poll results on the Republican presidential candidates, see: (bit.ly/1EXCTxR)

Here is a list of the remaining Republicans seeking the nomination:

JEB BUSH

The former Florida governor, the son of one president and brother of another, is a favorite among the Republican establishment. Bush, 62, has become a main target of rival Donald Trump and failed to gain traction in the polls, but this month vowed to jump-start his campaign. He has also faced criticism for not distancing himself from the foreign policies of his brother, former President George W. Bush, and for taking moderate positions on issues such as immigration.

BEN CARSON

Retired neurosurgeon Carson, 63, is a favorite of conservative activists who has touted his outsider status and has seen his public support grow. Raised in a poor family by a single mother, Carson rose to be director of pediatric neurosurgery at Johns Hopkins Hospital in Baltimore. He is the only black candidate running from either major political party.

CHRIS CHRISTIE

The New Jersey governor, 52, has vowed to bridge Washington’s partisan divide. Seen as plain-spoken by supporters and a bully by detractors, Christie’s trademark style has been eclipsed by rival Trump’s own brash rhetoric. While Christie won kudos for his response to Superstorm Sandy in 2012, his support has eroded amid the “Bridgegate” scandal and financial strains in his home state.

TED CRUZ

Cruz, 44, of Texas is the favorite of the party’s conservative Tea Party movement and has appeared with Trump rather than criticize the Republican front-runner as other rivals have done. Some blamed Cruz for the October 2013 government shutdown, and he is seen as leading the charge over the current budget fight. The Princeton- and Harvard-educated son of a Cuban immigrant, Cruz was the first Republican to officially enter the race.

CARLY FIORINA

Once one of the most powerful women in American business, the former Hewlett-Packard Co chief executive has seen her support rise following her performance in the party’s August debate. Fiorina, 60, has positioned herself as an outsider with corporate experience, although she was pushed out of the tech company and later lost her bid for the U.S. Senate. She has criticized the only other woman so far seeking the presidency, Democrat Hillary Clinton.

JIM GILMORE

The former head of the Republican National Committee briefly ran for the party’s 2008 presidential nomination. Gilmore, 65, earlier served one term as the governor of Virginia, a swing state in presidential elections. A former Army intelligence officer, he has also advised former U.S. presidents on counter terrorism response.

LINDSEY GRAHAM

The U.S. senator from South Carolina, a close ally of 2008 Republican presidential nominee John McCain, is running as a defense hawk and has made criticism of President Barack Obama’s foreign policy the main focus of his campaign. The 59-year-old has been more moderate on other issues such as immigration reform and climate change.

MIKE HUCKABEE

Former Arkansas Governor Huckabee, 59, ran unsuccessfully in 2008 and declined to run in 2012 despite his popularity with influential evangelical leaders and voters. The former host of a popular Fox News television show has focused in public appearances on the plight of working Americans left behind in the economic recovery.

BOBBY JINDAL

Louisiana’s two-term governor was once seen as a rising Republican star, but state budget woes have hurt his popularity at home. Jindal, 44, is close to the bottom of the pack in the polls and came under fire in 2013 for calling his party “stupid.” He is the first person of Indian-American heritage to run for U.S. president.

JOHN KASICH

The 63-year-old Ohio governor represents an important election swing state and could be a potent force in the Republican field. Re-elected to a second term in November, Kasich was the last Republican candidates to enter the race. He announced his bid with a focus on budget issues, race relations and his government experience.

GEORGE PATAKI

The former New York governor, who led the heavily Democratic-leaning state for three terms, could be a moderate voice in a Republican field heavy with conservatives but so far is at the bottom of most polls. Pataki, 70, has not held public office since 2006.

RAND PAUL

The first-term Kentucky senator, 52, is following his father, Ron Paul, in seeking the presidency. A libertarian, he has lobbed criticism at Democrats and fellow Republicans alike over the federal debt and personal liberties. He casts himself as an anti-establishment reformer who could win over young and minority voters.

MARCO RUBIO

Rubio, 44, cast his entry into the Republican field as a “generational choice.” The son of Cuban immigrants, the U.S. senator from Florida swept into Congre上海夜网ss in the Tea Party wave of 2010. He has fought to strengthen ties with conservatives after a failed push for comprehensive immigration reform in 2013.

RICK SANTORUM

A favorite of the Christian right, the former Pennsylvania senator, 57, announced his 2016 bid with an eye on economic issues as other contenders also compete for religious conservatives. He has promised to boost the middle class, eliminate the Internal Revenue Service and crack down on illegal immigration.

DONALD TRUMP

The 69-year-old real estate mogul and TV personality has surged in public opinion polls over the summer, leading his closest rival by double digits. Although the outspoken billionaire has come under fire for controversial remarks about immigrants and women, he continues to lead the pack. He recently pledged not to buck the Republican party and run as an independent.

SCOTT WALKER

Walker, 47, had been expected to be the candidate of choice among donors looking for a more conservative option but has fallen into Trump’s shadow. The two-term Wisconsin governor has seen his lead shrink in recent weeks in Iowa, a key state because it votes early in the nominating process.

Preview: Real Madrid – Deportivo La Coruna

Round 20 of La Liga marks the start of the second half of the season with both Real Madrid and Dep. La Coruna hoping to reverse their current poor form.

Flashscore presents the key facts before the match:

While Zinedine Zidane’s side have accumulated a three-match winless streak (LL), Deportivo are in need of a victory after picking up just one point in the last four matches (LL).

Disastrous home performances have kept Madrid in fourth place of the table. The ‘Merengues’ have only won 50% of their clashes played at the Santiago Bernabéu (W5, D2, L3) which is usually something unheard of!

With rumours of Cristiano Ronaldo willing to leave the club at the end of the season, as well as players linked to join Madrid (Neymar, Kane, Hazard…), coach Zidane talked about the Portuguese star: “I can’t imagine a Real Madrid without Cristiano”.

Even though there was an 18-year 上海夜生活period in which Madrid were unable to win at the Riazor stadium, their record at the Bernabéu looks different, as the last time the Galician side won there was back in 2008 (2-1).

Players to watch: Florin Andone (Deportivo) has recovered last season’s efficiency (11 goals). The Romanian has five goals this term – including three in the last three fixtures.Top 5 Real Madrid players who are succeeding on a loan Tomás Pavel Ibarra Meda – We need to talk about the Top 5 Real Madrid players who are currently succeeding away from the club and are currently on a…

Everyone is waiting for Cristiano Ronaldo to up his level. His goal scoring average is as low as it was in his very first season at Madrid in 2009. He’s scored only four goals in 1,156 minutes which is way below his usual astronomical standards.

Stat attack: Madrid would be on top of the LL table if only the first 45 minutes counted, but they would sit 11th if only looking at second halves.

Deportivo have only one clean sheet and one win as an away side. However, they have only failed to score in three of the nine away clashes which should make things interesting.

Missing players

Real Madrid: S. Ramos (calf injury), J. Vallejo (thigh injury), L. Zidane (shoulder injury), K. Benzema (doubtful)

Deportivo La Coruna: J. Bicho (shoulder injury), F. Cartabia (doubtful), B. Gama (doubtful), G. Valentin (doubtful).

Preview: Lazio – Chievo

Will it be the Champions League ambitions of Lazio or the survival instincts of Chievo? With it all to play for, this Serie A clash hosted in the capital city has an interesting sub-context.

Flashscore presents the key facts before the match:

The hosts are fourth in SA, taking advantage of a poor recent run by Roma. With the battle for the final CL qualification spot looking set to be between these two eternal rivals, Lazio would be eager to pocket three points against Chievo.

The visitors have picked up just one win since the end of October and are living off their early season form of 15 points from the opening nine games. They now sit 13th in SA and just seven points above the relegation places. If the slide is not halted, do not be surprised if they find themselves amid that battle soon!

The hosts have won their last three home games in all competitions to go with four on the trot at home to teams in the bottom half. They have a very good scoring record (48 goals) behind only Juventus in SA, although they have conceded the most (24 goals) among the top five!

Compare that to Chievo, who have scored just 20 goals in 20 games so far in SA! In addition, their away form is shaky, with no wins in six trips (W0, D2, L4).

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Leading Chievo’s charge will be Roberto Inglese with seven goals. He will look to capitalise on Lazio’s generosity at the back.

Stat attack: Chievo have not scored in their last three away SA games and lost all of them.

These two sides, together with Inter Milan, have scored the most headed goals in SA this season (seven).

Missing players

Lazio: F. Caicedo (leg injury), S. Radu (suspension), D. Di Gennaro (doubtful), F. Marchetti (doubtful), Mauricio (doubtful)

Chievo: L. Castro (knee injury), A. Gamberini (muscle injury), R. Inglese (knee injury), R. Meggiorini (doubtful).

Wenger hopeful on Ozil deal

Arsenal manager Arsene Wenger has revealed that contract negotiations between midfielder Mesut Ozil and the club are still going but he has been encouraged by the player’s attitude.

The World Cup winner’s contract with Arsenal will expire this summer & despite allowing it to get to the stage where he can now freely negotiate a deal with a club outside of the Premier League, Wenger is hopeful the German see’s his future at the Emirates having witnessed just how focused and committed the player has been.

“We are not close enough to be optimistic, but we are not far enough to be pessimistic,” said Wenger, according to Sky Sports.Moving to Arsenal “a massive change” says Tierney George Patchias – Kiernan Tierney mo上海夜生活ved from Celtic to Arsenal this summer and he says it has been “a massive change.”The move to Arsenal was a protracted…

“He behaves like somebody who is completely focused and ready to commit but after that contract negotiations are what they are.

“We are not close enough to tell you he will do it, I don’t know.”

Ozil is expected to be in the final squad for Germany in this summer’s World Cup tournament in Russia, so it is likely that he will want to sort out his future before then. Keeping him may depend on any new signing Arsenal make in the remaining time left in this January transfer window with Borussia Dortmund’s Pierre-Emerick Aubameyang being heavily linked to the Emirates.

Conte hailed Rooney’s contribution

Antonio Conte, the Chelsea manager, admitted that Wayne Rooney, the captain of his upcoming opponent, is a player who “plays with his soul” and he claimed that the Englishman has got everything to become a successful coach one day.

Rooney managed to find his old form after joining Everton back in summer and Antonio Conte knows that he should be aware of the captain before his Chelsea will face Everton in the upcoming Premier League match. The Italian coach insisted that he considers the 32-year old to be the main attacking threat of the Toffees and his players should be prepared for it.

The former Juventus coach spoke about this player as he said, according to ESPN: “We must pay great attention because Wayne Rooney is an important player, a good player. He is showing his ability. For sure, Rooney is one of the best players of Everton. I think it was a great [move] for him. He’s showing he’s a fantastic player. He’s continued to play in a fantastic way. We must pay great attention because I think Wayne Rooney is a player who, when he plays, plays with his soul. You can see this during the game.”Opinion: Martin Odegaard is perfect for the Premier League Tomás Pavel Ibarra Meda – Given how much he’s been rejected by Real Madrid, we are convinced that Martin Odegaard is perfect for the Premier League.Martin Odegaard is finally…

He also made a comment on Rooney’s decision to finish his international career: “We must have great respect for his decision. Only the player understands when the moment is arriving to say ‘stop’ when it comes to playing for the national team. We must have great respect for this decision. It’s not simple to make.”

In the end, Conte insisted that it’s not an easy thing to make such a上海夜生活网 decision: “To stop your career with the national team is not easy. I’m sure his heart is a bit broken by this decision. But, at the same time, we have to respect it because only the player understands when this moment has come.”

Capello slams Bonucci

The former Rossoneri coach has criticized AC Milan’s skipper after a poor start at San Siro.

Fabio Capello has slammed Leonardo Bonucci, insisting he cannot defend and was simply lucky to play in Juventus’ system that suited him well.

The Italy international completed a rather controversial move during the summer, swapping Serie A champions Juve for the Rossoneri in a €42million deal. However, he has been struggling to find his form since his arrival at AC Milan.

And former Rossoneri boss Capello, who led Milan to four Serie A titles and 1994 Champions League, has offered his assessment of Bonucci’s qualities.Jose Fonte recalls incredible first memory of Cristiano Ronaldo Andrew Smyth – Jose Fonte has given a fascinating insight into Cristiano Ronaldo by recalling the time he first met the star during his Sporting Lisbon days.

“He’s the best Italian defender when he has the ball at his feet. He’s among t上海夜生活网he top three in the world,” Capello told Sky Sport Italia.

“But he can’t defend. He has big problems. It was ideal for him at Juventus, where he was free. It’s perfect for him to play in a three [in defence]. Playing in a four is hard.”

The Italy international has played 16 out of 18 Serie A games for AC Milan this season, with his team sitting 11th in the league table.

Liverpool chief admits uncertainty over Coutinho’s future

The Brazilian was Barcelona’s top priority over the summer and his recent showings on the pitch will certainly make the Catalans want him even more.

Liverpool chief executive Peter Moore insists that he does not know what will happen to Philippe Coutinho and whether the will still be at Anfield after the January transfer window. The 25-year-old was Barcelona’s target during the summer and reportedly submitted a transfer request to force a move through. However, the Reds’ leadership blocked the move and insisted that the ‘Magician’ is not for sale regardless of the money offered to the club.

However, Moore has now revealed that he does not have a ‘crystal ball’ only to further fuel the speculations regarding Coutinho’s future.

“[On Wednesday] I saw a player delighted to score a hat-trick in front of 54,000 fans. It’s all about Philippe on the pitch right now.” he said, according to Goal.

“As far as I’m concerned the squad in January is what we have. I have no crystal ball.”

However, the Reds official highlighted and lauded the job done by the recruitment team, expressing his delight with the signing of Salah, Chamberlain and Keïta.Leicester boss Brendan Rodgers relishing Liverpool return Andrew Smyth – Brendan Rodgers is relishing Leicester City’s trip to his old club Liverpool, whom he described as a “privilege” to work for during his three-year stint.

“From the perspective of competing, we do thing上海夜网s the Liverpool way,” Moore added.

“The chemistry that we build on the field – it’s not about buying the most expensive player.

“We haven’t been shy [in terms of spending]. Obviously, the Mohamed Salah purchase for many people has been the top acquisition of the season.

“We already have Naby Keïta coming and I think Alex Oxlade-Chamberlain is doing a tremendous job.

“The investments are being made. It’s hard to knock what you are seeing on the field right now.

Everton big underdogs against Liverpool

Jamie Carragher, the former Liverpool skipper, insisted that his ex-team will be huge favourites in the upcoming derby match against Everton – and after beating Spartak Moscow 7-0, the expectations will be even higher.

Fourth-placed Liverpool scored 12 goals in their last two games and they are back in their best form – and Jamir Carragher insisted that it will be very difficult for Everton to face their biggest rivals right now. The Toffees have got a new coach as Sam Allardyce took over and won his first match in charge 2-0 against Huddersfield – but this fixture will be far more difficult.

The former Reds defender spoke about his former side’s form as he said, according to Sky Sports: “Is there a feel-good factor going into it after what happened in midweek? Any player or manager coming into this city knows how important this game is. As a fan, you are a little bit nervous thinking Sam Allardyce has come in and Everton have picked up a little bit and could it change? But then you come here in midweek and watch how well Liverpool are playing and it has to give you confidence.”Opinion: Martin Odegaard is perfect for the Premier League Tomás Pavel Ibarra Meda – Given how much he’s been rejected by Real Madrid, we are convinced that Martin Odegaard is perfect for the Premier League.Martin Odegaard is finally…

He added that Sam Allardyce could possibly be an advantage for the guests: “Sam Allardyce will give the Everton supporters and players a bit more belief coming here. But they have been coming here a long time now and been finding it very difficult. He will make them more organised, you know that they had big problems defensively. But I think if Liverpool play the way they have been playing, they will be red-hot favourites. And I think上海夜生活 Sam Allardyce will recognise that.”

In the end, Carragher claimed that the Englishman is very experienced and will know how to play against Liverpool: “He has been to Anfield many times with different teams and the last time he came, he won with Crystal Palace towards the end of last season. So yes, he will probably have a belief that he can come here and win, but Everton will also be well aware of the attacking talent Liverpool have got.”

Preview: Maribor – Sevilla

Maribor’s fate was sealed in their last Champions League (CL) match against Spartak Moscow. They can now not qualify and will finish bottom of Group E. For Sevilla to qualify, they only need a draw or for Spartak Moscow to lose to Liverpool.

Flashscore presents the key facts before the match:

Sevilla’s Argentinian assistant coach, Ernesto Marcucci, will be in charge of this fixture as upsetting news hit the club when head coach Eduardo Berizzo announced that he has been diagnosed with cancer. The club have stated that once treatment has been completed he will return to the club as coach.

Historically the CL has been dominated by Spanish clubs, and it has not been won by any other nation in the last four years. Sevilla come into the competition with a record that Real Madrid are chasing themselves – a hat trick of European trophies (three cups consecutively).

Sevilla forward, Wissam Ben Yedder, has scored six goals in the CL and is the competition’s joint second top scorer, behind only Cristiano Ronaldo (eight). In the last fixture against Maribor, Ben Yedder scored a superb hat-trick, and if he repeats that feat he could overtake CR7 as the tournament’s top scorer.

In terms of the H2H, Sevilla have played Maribor in three European fixtures. Maribor have lost all but one, which was back上海夜生活网 in 2014 (the EL) where they managed a 2-2 draw. In the H2H fixtures, Sevilla have won a total of 24 corner kicks (an average of eight per game), Maribor have six – which is a very low average of just two corners per game.Niko Kovac urges Bayern Munich to remain ‘humble’ Andrew Smyth – Niko Kovac has called on Bayern Munich to stay focused and humble after thrashing Tottenham 7-2 in the Champions League.

Maribor have only lost one game at home in their last ten in all competitions which was a 7-0 thrashing by Liverpool in the CL. In those last ten home fixtures, 22 goals were scored for/against, an average of 2.2 goals per game.

Maribor may feel confident coming into the fixture knowing that Sevilla have suffered more losses than wins and only one draw in their last ten away fixtures (W4, D1, L4). A total of 30 goals have been seen in Sevilla’s last ten away fixtures – an average of three goals per game.

Missing players

Maribor: M. Obradovic (injury), A. Rajcevic (injury), D. Sme (injury), L. Zahovic (injury)

Sevilla: D. Carrico (thigh injury), N. Pareja (hip injury), Jose Mena (doubtful), W. Montoya (doubtful).

Nemyar tried to have Barcelona excluded from UCL

Neymar left Barcelona this summer for PSG, but his departure did not come in the best terms.

PSG decided to pay the €222m release clause in the Brazilian’s contract and Barcelona were left powerless. The Catalans delayed as much as possible the sending of the relevant documents to France and therefore PSG were not able to register Neymar in time for their first match in Ligue 1.

Furthermore, Barcelona accused PSG of breaching the FFP regulations. However, Neymar hit back and has his own personal war going on with the Catalans. The Brazilian reported Barcelona to UEFA and asked for nothing less than the exclusion of the Catalans from Champions League, according to AS.Opinion: FC Barcelona needed to end the internal war Tomás Pavel Ibarra Meda – After a victory at Camp Nou, we believe that FC Barcelona did well by ending the internal war between players and the board ASAP.Those…

The 25-year-old formulated a com上海夜生活论坛plaint against his former team, after Barcelona refused to pay the player’s father the €26m loyalty bonus for the extension on his contract until 2021. Neymar’s decision came after multiple consultations with his legal team, but UEFA decided to dismiss the case, deeming the Brazilian’s claims not founded.

According to Mundo Deportivo, Neymar and his father decided to give up their status as socios of the Catalan club, after the decision that came from UEFA.