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UPDATE 2-Italian yields jump as surprise 20-year bond sale shakes up market

* Italian yields rise, strong demand for 20-yr issue

* Deal comes as EU discusses disciplinary action on Rome

* Spain gets 20 blns euros of interest for 10-yr

* German yields dip as U.S.-China trade tensions persist

* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates prices, adds move in key inflation gauge)

By Abhinav Ramnarayan

LONDON, June 12 ( ) – Italy’s long-dated government bond yields rose sharply on Wednesday after the country launched a surprise 20-year bond sale to take advantage of hefty demand for euro zone debt.

Italy has received orders worth more than 23.5 billion euros for the new bond, a lead manager told .

The final yield on the new March 2040 issue h上海夜生活论坛as been set at 12 basis points over the outstanding March 2038 benchmark, down from an initial guidance of around 16 basis points.

Demand for the sale was strong even though the European Union is expected to take disciplinary action against Rome over the country’s growing debt.

“Right now, the carry and the ECB monetary easing is cancelling out the negative headlines,” said DZ Bank strategist Daniel Lenz. The term “carry” refers to a trade where investors take advantage of low short-dated borrowing costs to pick up some yield by buying longer-dated debt.

Italy’s 10-year bond yield was up 10 basis points at 2.41%, with 20- and 30-year yields rising a similar amount.

Yields usually rise ahead of a sale, with investors selling outstanding debt to make space for the new supply.

But the move comes after a strong rally in recent days, which saw Italy’s 10-year yield drop 30 bps in the first week of June to a one-year low of 2.28%.

Spain also hit bond markets on Wednesday, and recorded over 31 billion euros of demand for 10-year debt even though the country’s debt is trading at record low yields.

The country was set to price a 6 billion euro bond issue at 33 basis points over mid-swaps, according to a lead manager, a level that suggests a final yield of just above 0.60% according to calculations.

DZ Bank’s Lenz said the carry was the predominant factor driving demand for Spanish bonds. “Spanish yields have hit record lows, but there is still a positive carry and it does not include the risk you have on Italy,” he said.

Spain usually launches a 10-year bond sale around this time of the year, so the market reaction was muted, with the country’s benchmark 10-year yield unchanged at 0.58%.

Elsewhere, German 10-year bond yields, the benchmark for the bloc, dropped to minus 0.24%, close to record lows hit last week, as concerns about the global economy grow in the shadow of a trade dispute between its two largest economies.

U.S. President Donald Trump on Tuesday defended the use of tariffs as part of his trade strategy while China vowed a tough response if the United States insists on escalating trade tensions amid ongoing negotiations.

German and U.S. bond yields fell further after soft U.S. inflation data boosted expectations for U.S. rate cuts.

In the euro zone, a key market measure of long-term inflation expectations fell to a new record low below 1.18% . ($1 = 0.8831 euros)

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)

UPDATE 2-Jittery investors cut Italian debt and head for safety

* Italy 10-year bond yields rise to 2-1/2 month highs

* Italy/Spain 10-year yield gap near widest since mid-Feb

* Ten-year German Bund yield falls on trade war fears (Updates with move in German bonds)

By Virginia Furness

LONDON, May 13 ( ) – Italian government bonds yields rose to their highest level in 2-1/2 months on Monday as risk aversion caused by deteriorating U.S.-China trade tensions and worries about political infighting in Rome fuelled a selloff.

Germany’s benchmark 10-year bond yield hit a six-week low after China said it would impose higher tariffs on a range of U.S. goods, sparking a rush into safe-haven assets. “Ultimately the longer the prevailing trade tensions are extending, the heavier the impact on tariffs and economic growth globally,” said Rabobank fixed income strategist Matthew Cairns.

Italian bond yields rose after last week’s warning from the European Commission that public finances would deteriorate further and politicians in Rome raised the possibility that Italy could breach EU rules on public spending unnerved investors.

Analysts said they expected public discord between the two ruling Italian parties to grow in the run-up to European elections later this month.

Italy’s 10-year bond yield briefly rose to a 2-1/2 month high at 2.74% before pulling back in late trade to around 2.70%. It rose 13 basis points last week in the biggest weekly selloff in three months.

The Italy/Spain 10-year bond yield gap held close to its widest since mid-February and was last seen at 172 bps .

Germany’s 10-year government bond yield fell 2.5 bps to its lowest in around six weeks at minus 0.074%, as China fought back in its trade war with the United States.

Short-dated U.S. Treasury yields fell 7 bps to 2.18%, squeezing the gap over two-year German bond yields to around 281 bps – its tightest since March .

EUROPEAN ELECTIONS

Investors are watching the Italian political situation closely after Italy’s coalition government vowed last week to patch up their differences and govern for four more years.

But support for Italy’s far-right League party has fallen following the weeks of feuding with its coalition partner the 5-Star Movement, opinion polls showed on Friday.

Commerzbank rates strategist Rainer Guntermann cited the political news flow and fear over the rising deficit for the selloff, but noted that the budget discussion will likely be postponed until after the European elections.

“The Commission is in a vacuum ahead of the election … and this will heat up later this year when we get the official reporting in Europe,” he said.

The European Commission last week cut Italy’s growth forecast to 0.1%, down from 0.2%, and said the country’s deficit could widen beyond the 3% ceiling set by the European Union.

Italy’s government tested investor patience, as well as that of the EU, last year by trying to push through a budget which breached EU deficit rules.

Lawmakers are once again上海夜生活网 mounting a challenge to EU fiscal rules. Italy’s Deputy Prime Minister Luigi Di Maio said on Friday the European Union’s fiscal rules should be changed to allow more public spending on health, research and education.

Investors will be able to have their say on the outlook for Italy on Tuesday, when its Treasury auctions up to 6.75 billion euros of bonds.

METALS-Copper drops on weak Chinese data and surge in LME stocks

* GRAPHIC-2019 asset returns: tmsnrt.rs/2jvdmXl (Adds closing prices, updates trade war)

By Zandi Shabalala

LONDON, March 14 ( ) – Copper prices dropped on Thursday as industrial output in top metals consumer China fell to a 17-year low in the first two months of 2019, while LME stocks of the metal used in power and construction rose.

Other Chinese data showed a mixed picture as the jobless rate climbed but property investment strengthened.

Deutsche Bank metals strategist Nick Snowdon said the delivery of copper metal into LME warehouses “has been taken as a signal that we are seeing the softness we saw in China feed into ex-China market”.

“China data also disappointed and pointed to relatively sluggish growth,” Snowdon said.

Benchmark copper on the London Metal Exchange closed 1.1 percent lower at $6,404 per tonne, its lowest in nearly a week.

U.S. President Donald Trump and Treasury Secretary Steven Mnuchin said on Thursday that discussions with China to end a months-long trade war are progressing quickly, though Trump said he could not say whether a final deal would be reached.

There were reports earlier saying a meeting between Washington and Beijing scheduled for later this month could be pushed back to at least April.

Hopes for a resolution of the long-standing trade conflict have helped propel the LME index of six major base metals up nearly 9 percent so far this year.

STOCKS: On-warrant stocks of copper, those not earmarked for delivery, in LME-approved warehouses jumped 34,900 tonnes to 66,325 tonnes. MCUSTX-TOTAL

SPREADS: The premium of cash copper over the three-month LME contract CMCU0-3 eased to $20 a tonne from a discount of $70 last week, indicating worries over tight supply were easing.

CHINA PREMIUMS: China’s Yangshan copper import premium SMM-CUYP-CN rose to $59 from $52.5 registered a week ago, which was a level not seen since April 2017.

CHINA STEEL: China’s daily steel output rose in January and February, as mills in the world’s top producer raised production amid firm steel margins and easier environmental restrictions.

ZINC: Vedanta’s Skorpion zinc refinery in Namibia has suspended operations for five weeks due to lack of raw feed material. The refinery has a capacity of 100,000 tonnes annually.

“This comes with available LME inventories in zinc extremely low, and while demand conditions remain subdued (as evidenced by low physical premiums),上海夜生活论坛 ongoing supply issues may see further aggressive backwardation in the coming weeks,” said BMO Capital Markets analyst Colin Hamilton.

ZINC STOCKS: Headline LME inventories of zinc fell 250 tonnes to 58,700 tonnes, their lowest since October 2007.

OTHER METALS: Aluminium fell 0.2 percent to $1,903 per tonne, zinc shed 0.8 percent to $2,825, lead ceded 0.7 percent to $2,114, tin eased 0.7 percent higher at $21,170 and nickel lost 2.5 percent to $12,880.

Silva: “We need to show how good we are”

It has been a very difficult season so far for Watford – after their great start to the campaign, their manager, Marco Silva, was linked with a move to Everton and since then, the performances and results of the team have been getting worse and worse…

The Hornets managed to gain just one point from their last six Premier League matches and this situation can be called a huge crisis after their terrific start to the season. To be added, they will miss their suspended captain Troy Deeney in their upcoming home fixture against Leicester City and Marco Silva urged his players to finally show up and prove their worth.

The former Hull C上海夜生活论坛ity coach spoke about this difficult situation as he said, according to Sky Sports: “In the Premier League we have to work really hard to achieve good results like we did at the start of the season. Of course, we now have big problems with some players (injuries and suspensions). We knew this could happen with our team and in this moment we need to find the solutions.”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 added that he can’t blame just his side’s huge absences: “Not only for us. I think for every team, if you miss four, five players from your starting XI, of course, it’s different. We have 25, 26 players and it’s the moment for everyone to play and to show [their] quality as well.”

In the end, Marco Silva admitted that the mood is not entirely great at the moment: “Of course, nobody is happy in this moment. When you win your face is different to when you didn’t achieve a good result. Like you imagine, in this moment our face in the dressing room is not the best but it’s the football. Our obligation as a team is to keep all together. I believe and I hope and I’m sure we’ll continue all together to change the situation.”

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).

Barcelona to go back in for Coutinho

Barcelona have not given up at the idea of signing Philippe Coutinho.

The Catalans will start negotiations again in January with Liverpool, for the transfer of the Brazilian midfielder, according to El Mundo Deportivo. 

During the summer, Liverpool made it clear that they are not interested in allowing Coutinho to move, not even for €200m. However, Barcelona believe that if the player continues to put pressure on his club, he will eventually be allowed to move to Spain.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 Catalans are ready to submit an initial offer of €80m and another €30m in bonuses, counting on the player’s public desire to play for them. Barcelona lost Neymar to PSG in上海夜网 the summer in a record-breaking deal of €222m and brought in Ousmane Dembele from Borussia Dortmund as a replacement, paying €105m for the French forward. However, the 20-year-old got injured and will be unavailable for the next 2-3 months.

Therefore, Barcelona are still looking to add some quality players to their squad. The club’s general director, Oscar Grau, said: “We are ready to sign with Coutinho or with any other player that the technical staff wants this winter. We want the most competitive team possible.”

Bolasie wants to make an impact

He was injured for the past 11 months but now, he is back and determined to help Everton with achieving far better results – Yannick Bolasie said that he wants to ‘come back feeling refreshed and hungry’.

The DR Congo i上海夜网nternational still isn’t 100% fit but he is close to making his return – he suffered the injury which has kept him out for the last 11 months in the Toffees 1-1 draw against Manchester United on December 4, 2016, but the player recently shared a video of himself doing ball tricks on social media, according to Goal.

The Everton winger spoke about his injury for the club website as he said: “I tend to distance myself [when I’m injured] but now that I am getting there, I am starting to watch and go to games again and I feel like I am close, and that is the main thing. It’s been almost a year but I don’t think of it like that because in that year I have been given the chance to develop myself and develop things I would have taken for granted before.”Wijnaldum looking to repeat Champions League success Nedim Maric – Liverpool are the reigning winners of the Champions League. However, this isn’t stopping them for aiming to get the glory once again.After a perfect…

He also talked about his feelings: “That has taken up my time and the whole package has come together, so I’m buzzing, really, and happy with where I am at. I want to come back feeling refreshed and hungry. We have quite a few new players, it’s happened to teams in the past, but the boys are working hard to make it right.”

Bolasie is aware of the current situation of his club as he claimed: “With everything that is going on, hopefully, I can come in and give a boost to the team and I am confident that they will be confident when I come in. If the team is confident, then that helps you even more, and that makes it better for me to come back and slot in that little bit easier.”

Kola\u0161inac admits he was nervous about working with Wenger

The full-back has certainly been one of the surprises from the transfer window following a run of great performances for the Gunners.

Sead Kolašinac joined Arsenal on a free transfer from Schalke during the close-season, but has turned out a great bargain. The 24-year-old has settled in perfectly at the club from north London, but he admits he was nervous about working with his new manager.

The defender quickly became a fan favourite, featuring in almost every Premier League game so far and even scoring in Arsenal’s上海夜网 3-1 win over Koln. Kolašinac believes he has developed well at the Emirates Stadium and insists he is happy to work under Wenger despite having second thoughts about it in the beginning.Strachan: Arsenal’s Kieran Tierney similar to Virgil van Dijk Andrew Smyth – Gordon Strachan believes Arsenal new signing Kieran Tierney is a similar kind of defender to Liverpool star Virgil van Dijk.

“It is really a lot of fun to work alongside a manager like Wenger. He has been here ever since I can remember,” he told Arsenal’s website.

“At the start, maybe I was a bit nervous to work alongside him. The fact that he speaks German really helps me – it made it a lot easier again for me to settle in here. He is good to work with.

“The season is young but I am happy with how I’ve developed and how I have started. But I have got more potential to get better and I want to show that in the coming games.”

Official: PSG sign Mbappe

Paris Saint-Germain have officially announced the transfer of Kylian Mbappe from Monaco.

The most expected transfer of the summer has been finalised. PSG have 上海夜生活论坛signed Kylian Mbappe on a season-long loan with an option-to-buy that would tie the player to Paris until 2022. The move of the 18-year-old has been confirmed by both clubs.

The striker, currently with the France national team, said to the official website of the Parisians:“It is with great joy and pride that I join the Paris Saint-Germain. For any young person from the Paris region, it is often a dream to wear the red and blue jersey and to taste the unique atmosphere of the Parc des Princes.”Drogba tips for Neymar and Mbappe to win Ballon d’Or one day Nedim Maric – One of the best strikers in the Premier League era talked about PSG’s sensational duo and their chances of winning individual awards in the…

“I was seduced by the project of the club, it is one of the most ambitious in Europe. Along with my new teammates, I intend to continue my progression today while helping the team to achieve the very big objectives it has set itself”, Mbappe added.

It remains to be seen how PSG will deal with the FFP and how they will explain to UEFA the deal that has brought Mbappe to Paris, after having already spent €222m for Neymar.

Arsenal still pushing for Draxler

The Gunners are still hopeful that they will manage to land the German winger.

Although they have made it clear that they are not interested in selling Alexis Sanchez, Arsenal are trying to get cover in case a late Manchester City offer will prove too hard to refuse. Julian Draxler of PSG is the player identified by Arsene Wenger as a quality replacement for the Chilean.

PSG need to offload some of their players following the record-breaking transfer of Neymar Jr. from Barcelona and the prospect of signing Mbappe from Monaco in the second most expensive deal in history. For this reason, the Parisians are willing to let Julian Draxler go. Bayern Munich and Borussia Dortmund have been link上海夜生活网ed with moves for the German international and now, according to The Mirror, Arsenal have re-entered the race for the 23-year-old.Top 5 players to watch in Manchester United vs Arsenal Tomás Pavel Ibarra Meda – Ahead of the most important Premier League match of the weekend, we got the Top 5 players to watch in Man United vs Arsenal.The…

The Gunners have previously been linked with the German, but now it seems like the interest is real and an official bid will be submitted in the coming hours. Arsene Wenger told Manchester City that he will not sell Alexis Sanchez because he wouldn’t have the time to find a valuable replacement for him. But, if Draxler will move to Emirates, then it might open the door for Alexis to make the switch to Etihad.

Pepe to Ronaldo: “Come with me at PSG\u201d

The Portuguese centre-back is one of the best friends of Ronaldo in football, as the pair shared the changing room at Bernabeu for close to eight years now.Written by Cosmin Mihalescu. June 19, 2017.

But with Pepe set to leave Santiago Bernabeu this summer, and Ronaldo’s recent tax evasion scandal, the centre-back is looking to take advantage of their friendship and try to persuade his co-national to join him at Paris Saint Germain.

According to the Spanish Press, Pepe sent a clear message to Ronaldo: “Come with me at PSG.” Pepe is known to be very close to make his move official to Paris.

Furthermore, the centre-back insisted: “The club didn’t defend you as they should have done”, touching on Ronaldo’s main complaint in relation to Real Madrid’s handling of his s上海夜生活论坛ituation.Kane: Spurs out of excuses after shock Carabao Cup exit Andrew Smyth – Harry Kane concedes that Tottenham only have themselves to blame following a shock Carabao Cup exit at the hands of Colchester United.

It’s not the first time Pepe is trying to hurt Real Madrid. Being now sure that he will leave in the summer, the Portuguese defender complained publicly about the way he was treated in the last year at Bernabeu, blaming Zidane for the lack of communication.

After having announced his intention to leave Real Madrid, Cristiano Ronaldo is now monitored by top clubs in the world. Besides PSG, Manchester United and Bayern Munich are also interested in the Portuguese forward, who has also attracted interest from China.

However, the player himself seems set on a return to Old Trafford, where Jose Mourinho would like to be reunited to his former player. Ronaldo has always said that Manchester United have remained in his heart.

PSG ready to activate Oblak\u2019s \u20ac100m buyout clause

Ligue 1 side h上海夜生活论坛ave been linked with several goalkeepers this summerWritten by – Nikolay Nikolov, June 18, 2017.

Paris Saint-Germain are prepared to trigger the €100 million buyout clause in Jan Oblak’s contract with Atletico, says goal.com.

Slovenia international has been intensely speculated over heading into the summer transfer window. He has been linked with Manchester United, Chelsea and Arsenal.

However, the club that wants to buy the 24-year-old has to meet Atletico’s demands and that means a record-breaking offer needs to be in place.Kane: Spurs out of excuses after shock Carabao Cup exit Andrew Smyth – Harry Kane concedes that Tottenham only have themselves to blame following a shock Carabao Cup exit at the hands of Colchester United.

At the moment, PSG are the favorites to sign the goalkeeper, as Ligue 1 side possess the financials required for the transfer and the goalkeeper position reinforcement will be their priority this summer. Moreover, Atletico will have to sell players, as they will be under a transfer embargo.

Recently the goalkeeper said: “In football, you never know, even one day before the market closes news come out. But for now, everything points towards me continuing at Atletico. I am happy and I believe that I’ll continue playing here next season.”

Last season, Oblak made 30 appearances for Atletico Madrid in LaLiga where he made 52 saves and kept 15 clean sheets. He has also featured in the Champions League 11 times.

Baba Rahman\u2019s future at Chelsea remains unclear

The defender is coming back after a loan period in Schalke and any transfer talks have been delayed until he makes a full recovery from an injuryWritten by – Nikolay Nikolov, June 16, 2017.

Baba Rahman’s future at Chelsea will remain uncertain until late July after Chelsea have put discussions over a potential tran上海夜网sfer on hold.

Rahman spent last season on loan at Schalke in the Bundesliga, but unfortunately, he suffered an anterior cruciate ligament injury at the African Cup of Nations.

He is expected to be fully fit by the end of next month and at that time his future at Chelsea will be looked at, after Schalke have decided against renewing his contract at this stage, due to his injury status.Kane: Spurs out of excuses after shock Carabao Cup exit Andrew Smyth – Harry Kane concedes that Tottenham only have themselves to blame following a shock Carabao Cup exit at the hands of Colchester United.

However, the Bundesliga team are looking for a left-back after losing Sead Kolasinac on a free transfer to Arsenal, which might open the door for Rahman if the club is satisfied with his condition.

The 24-year-old’s rehabilitation is going good, as he recently started practicing with a ball at Cobham Training Centre.

At the moment, another loan move is the most likely option for Rahman, but there’s still a chance that Conte may include him in the pre-season tour in China.

Dybala only wants Barca legends jersey

Paulo Dybala has winked at the former Barcelona player Ronaldinho Gaucho, as he stated that he wanted the Brazilians jersey but has not been able to get it

Written by Christian Møller Poulsen. May 2, 2017

Paulo Dybala was recently one of the key figures for Juventus knocking FC Barcelona out of the Champions League, and the Argentinian recently renewed his contract with the Italian side, but is still being linked with FC Barcelona and Real Madrid. However, now the Argentina has revealed that Ronaldinho was one of his greatest idols when he was little and hails the South Americans way of looking at football.Inter Milan V Lazio: Players to Watch Taimoor Khan – Inter Milan are set to host Lazio at the San Siro on Thursday and the game is definitely going to be an exciting affair…

Dybala told UEFA the following: “The one player’s shirt that I would still love to h上海夜生活论坛ave is Ronaldinho’s. One day Gennaro Gattuso promised me that he was going to call him to ask him for a shirt for me, because he’d played with him, but it didn’t happen.”

“Ronaldinho was one of my favourite players when I was growing up and the image he conveyed to me was that you’ve got to have fun and play with a smile on your face.”

“European coaches and players sometimes don’t look at football the way we South Americans do. We enjoy the game, laugh a lot, dance and so on. I always seek to have fun and enjoy what I do out on the pitch. That’s just my mindset.”

House panel, Justice Dept end standoff over Mueller documents

WASHINGTON ( ) – The House Intelligence Committee pulled back on Wednesday from threats to enforce a subpoena against Attorney General William Barr after the Justice Departm上海夜生活论坛ent agreed to turn over materials relating to an investigation into Russian election interference.

The decision ended a standoff between the Democratic-led committee and the Justice Department for access to counterintelligence reports generated by Special Counsel Robert Mueller during his probe of President Donald Trump and his associates.

The dispute, one of many between the Republican administration and the Democrat-controlled House of Representatives, has come as Trump refuses to cooperate with numerous congressional probes into matters ranging from his personal finances and business dealings to Russian meddling in the 2016 presidential election.

“The Department of Justice has accepted our offer of a first step toward compliance with our subpoena, and this week will begin turning over to the Committee twelve categories of counterintelligence and foreign intelligence materials as part of an initial rolling production,” U.S. Representative Adam Schiff, the committee chairman, said on Wednesday.

Schiff canceled a committee meeting to consider enforcement action on Wednesday.

Barr, the top U.S. law enforcement official and a Trump appointee, on May 2 snubbed the House intelligence committee, which voted to hold him in contempt of Congress for not handing over a full, unredacted Mueller report.

In a letter to Schiff on Tuesday, the Justice Department said it was willing to give Intelligence committee members and staff closed-door access to additional material if Schiff does not move forward with his threats to hold the department in contempt.

However, a request to the Justice Department from the Senate Intelligence committee for the same materials was still pending, a congressional source said.

The White House has accused Democrats of playing politics with the congressional probes.

U.S. hiring slows; shorter factory workweek a red flag

WASHINGTON ( ) – U.S. job growth slowed in July and manufacturers slashed hours for workers, which together with an escalation in trade tensions between the United States and China could give the Federal Reserve ammunition to cut interest rates again next month.

The Labor Department’s closely watched monthly employment report on Friday came a day after President Donald Trump announced an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, a move that led financial markets to fully price in a rate cut in September.

The U.S. central bank on Wednesday cut its short-term interest rate for the first time since 2008. Fed Chairman Jerome Powell described the widely anticipated 25-basis-point monetary policy easing as insurance against downside risks to the 10-year old economic expansion, the longest in history, from trade tensions and slowing global growth.

“Fed officials don’t exactly have mud in their eyes after cutting interest rates this week as job growth is slowing with the rest of the world,” said Chris Rupkey, chief economist at MUFG in New York. “We see nothing in today’s report to stop a second rate cut next month.”

Nonfarm payrolls increased by 164,000 jobs last month, the government said. The economy created 41,000 fewer jobs in May and June than previously reported. July’s job gains were in line with economists’ expectations.

Underscoring the moderation in hiring, the average workweek fell to its lowest level in nearly two years in July as manufacturers cut hours for workers. Hours were also reduced in other industries, contributing to the workweek’s drop to 34.3 hours, the fewest since September 2017, from 34.4 hours in June.

“The decline in hours worked suggests that employers may be pulling back more than headline hiring would suggest,” said Andrew Schneider, a U.S. economist at BNP Paribas in New York.

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A measure of hours worked, which is a proxy for gross domestic product, fell 0.2% in July, pointing to weak output.

The U.S.-China trade war is taking a toll on manufacturing, with production declining for two straight quarters. Business investment has also been hit, contracting in the second quarter for the first time in more than three years and helping to hold back the economy to a 2.1% annualized growth rate. The economy grew at a 3.1% pace in the first quarter.

The White House’s “America First” policies are also restricting trade flows. A separate report from the Commerce Department on Friday showed sharp declines in both imports and exports in June, leading a 0.3% dip in the trade deficit to $55.2 billion during the month.

Job gains over the last three months averaged 140,000 per month, the fewest in nearly two years, compared to 223,000 in 2018. Economists say it is unclear whether the loss of momentum in hiring was due to ebbing demand for labor or a shortage of qualified workers.

Still, the pace of job gains remains well above the roughly 100,000 needed per month to keep up with growth in the working-age population. The unemployment rate was unchanged at 3.7% in July as 370,000 people entered the labor force.

Despite the lowest jobless rate in nearly 50 years, wage gains remain moderate, contributing to a tame inflation environment, which could be supportive of a rate cut at the Fed’s Sept. 17-18 policy meeting.

Inflation has undershot the central bank’s 2% target this year, rising 1.6% on a year-on-year basis in June after a 1.5% gain in May. Average hourly earnings rose 8 cents, or 0.3%, in July, after the same increase in June. That lifted the annual increase in wages to 3.2% in July from 3.1% in June.

Financial markets have fully priced in a rate cut in September and the chances for further easing in December have increased, according to CME Group’s FedWatch tool.

The dollar .DXY was trading lower against a basket of currencies, while U.S. Treasury prices rose. Stocks on Wall Street tumbled to a one-month low.

ECONOMY COOLING

Even with the step-down in employment growth and moderate wage gains, the labor market is supporting the economy as the stimulus from last y上海夜生活网ear’s $1.5 trillion tax cut package fades. The economy is expected to grow around 2.5% this year.

There was some encouraging news on the jobs market. The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, rose to 63.0% in July from 62.9% in June.

A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment, fell two-tenths of a percentage point to 7.0% last month, the lowest level since December 2000.

The moderation in hiring was led by construction, which increased payrolls by 4,000 jobs after creating 18,000 positions in June.

Manufacturing employment rose by 16,000 jobs after advancing by 12,000 in June. The strong gains are at odds with weak factory activity. A survey on Thursday showed manufacturing employment hit its lowest level since November 2016 in July.

The sector, which accounts for more than 12% of the U.S. economy, is also battling an inventory bulge and design problems at aerospace giant Boeing Co (BA.N). The manufacturing workweek dropped 0.3 hour to 40.4 hours, the lowest since November 2011. Factory overtime fell by 0.2 hour to 3.2 hours.

“A prolonged drop in hours worked signals that businesses may reduce hiring, with layoffs and cutbacks in private spending to potentially follow, said Beth Ann Bovino, U.S. chief economist at S&P Global Ratings in New York.

Government employment increased by 16,000 jobs in July, boosted by local government hiring, adding to June’s gain of 14,000. Professional and business services employment rose by 38,000 jobs last month.

There were also increases in healthcare, leisure and hospitality, financial activities and wholesale trade employment. But retail payrolls dropped by 3,600 jobs, declining for a sixth straight month.

Free-spending consumers lift company profits, but Trump tariffs now loom

CHICAGO ( ) – U.S. President Donald Trump’s plan to slap new tariffs on Chinese imports comes on the heels of unexpectedly strong second-quarter results for automakers, consumer products companies and restaurant chains, boosted by spending on high-end products

Several major U.S. compa上海夜网nies, from General Motors to KFC-owner Yum! Brands, defied analysts’ sluggish earnings forecasts.

Refinitiv analysts said on Thursday that they expect quarterly earnings growth of 2.5% for S&P 500 companies, compared with the 0.4% decline they had predicted in mid-July. At the time negative second-quarter outlooks outnumbered positive ones by 3.8 to 1, while the average ratio for the prior four quarters was 1.9 to 1, according to Refinitiv data.

But the rosy outlook may be short-lived. After Trump said on Thursday he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, four large retail trade groups warned that the action would hurt consumer purchases, raise prices further and limit hiring.

Even so, consumers would be unlikely to see higher prices when they start shopping for the holiday season, which begins in November, as a result of the new tariffs. Most retailers have already purchased their holiday-season merchandise, and the inventory for the most part has already arrived at U.S. ports and warehouses.

Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged at a 4.3% rate in the second quarter, the fastest since the fourth quarter of 2017. That followed a rather lackluster 1.1% growth rate in the first quarter, blamed on a 35-day partial shutdown of the government.

Quarterly results from companies catering to consumers showed shoppers flocking to high-end SUVs and ordering more fried chicken on mobile phones. Even products like face creams, potato chips and laundry detergent, which have become more expensive due to surging commodities costs, sold well.

Shares in Kellogg surged 12% on Thursday after the company’s quarterly results beat estimates on strong demand in North America for its increasingly pricy Pringles, frozen Eggo waffles and meatless Morningstar burgers. Kellogg CEO Steve Cahillane told that sales growth in North America was due to investments in marketing and new products such as Eggo French Toast.

Similarly, Procter & Gamble’s stock touched a record high on Tuesday after the company reported strong demand for skincare and detergent products in the second quarter even though it increased prices to offset surging raw material costs. P&G, whose brands include Olay and Tide, said the price hikes contributed 3 percentage points to a 7% jump in organic sales and said North America sales rose by the high-single digits.

The consumer goods industry has rushed to revamp products and roll out premium ones to justify higher prices and compete with cheaper, increasingly popular store-brand products from Walmart, Costco and Kroger.

Nestle, the world’s No. 1 consumer goods company whose brands include Nescafe coffee pods and Lean Cuisine, also raised prices during the quarter. In July, confectionary company Hershey said it would hike wholesale prices by 10% on its single-serve products, which account for about a third of total sales. The Reese’s Pieces maker, which had already raised prices on other products this year, beat quarterly earnings forecasts when it reported last week, even though price hikes ate into volumes.

Consumers are also splurging on cars, even as prices have risen to near an all-time high, at $37,169 per vehicle according to Kelley Blue Book. General Motors shares hit a more than one-year high on Thursday as its redesigned Chevrolet Silverado and GMC Sierra pickup trucks helped boost second-quarter profits by $1 billion.

The Retail Industry Leaders Association (RILA), which counts Walmart, Target  and Home Depot  among its members, said the tariffs will raise prices for everyday items like clothing, toys, home goods and electronics.

“This new 10% tariff is a direct hit on consumer products and family budgets,” Hun Quach, RILA’s vice president of international trade, said in a statement.

Exclusive: Full restart of Codelco’s Chuquicamata smelter delayed until end of October – sources

(This Aug. 1 story corrects to show that the smelter is ramping up; adds Codelco statement)

By Zandi Shabalala

LONDON ( ) – The full reactivation of a smelter belonging to Chile’s state-run Codelco, the world’s top copper producer, will be delayed until the end of October after missing a previous target of April, four industry sources told .

Codelco said in a statement that the Chuquicamata smelter in northern Chile was ramping up, in line with plans, after incorporating two new acid plants and re-powering its flash furnace.

It added that the plant, with those three units, was operating normally and that shutdowns had been minor, corresponding only to corrections or tests.

Codelco [COBRE.UL] is also buying copper cathode on the spot market, the sources added.

One of the sources said that was part of efforts to build up an in-house trading unit.

Codelco, in the statement, said i上海夜生活网t was not efficient for the company to be developing a trading office.

The Chuquicamata smelter is one of the world’s largest, producing 320,000 tonnes of metal in 2018, and was originally halted in December last year for changes to meet new emissions standards.

More broadly Chuquicamata, or “Chuqui”, one of Codelco’s key copper deposits, is undergoing a complex $5 billion-plus transformation into an underground shaft mine from an open pit facility to counter deteriorating ore grades.

The 24-million-tonne copper market is expected to see a deficit of 189,000 tonnes this year which will widen to 250,000 tonnes in 2020, the International Copper Study Group said.

Prices of the metal used widely in power and construction are around $5,880 a tonne on the London Metal Exchange.

Smelters are charging miners less to refine concentrates into metal due to falling availability of mine supply, reflected in declining treatment and refining charges.

Treatment charges in China, the world’s top consumer of copper, are around $60 a tonne, their lowest since November 2012.

The smelter delay will also affect the output of molybdenum, a byproduct of copper smelting and used to make stainless steel, where Codelco is the world’s second-largest producer in the 265,000-tonne market.

As part of efforts to modernise state-owned Codelco, about 200 employees lost their jobs at the company in July, a source said.

Codelco appointed company veteran Octavio Araneda chief executive last month as it pushed forward with a 10-year, $40 billion plan to overhaul its flagship mines against a backdrop of falling ore grades and wavering markets.

reported in May that production at the Chuquicamata mine would drop by 40% over the next two years.

U.S., Japan may need more tools to shore up banking system: Fed’s…

( ) – The United States and Japan may need to shore up bank oversight to prepare for economic downturns, the head of the Federal Reserve Bank of Boston warned on Friday.

Eric Rosengren, president of the Boston Fed, said in a speech that policymakers in the two major economies should consider whether regulators need more tools, including requiring banks to hold more capital now, t上海夜生活论坛o counteract economic risks.

“Japan, like the United States, might benefit from considering an expanded set of macroprudential tools to enhance the financial system’s resilience,” Rosengren said in remarks prepared for delivery at a conference in Eltville, Germany.

Rosengren, who is voting member of the Fed this year on U.S. interest rates, did not discuss his monetary policy outlook in the speech. The Fed on Wednesday signaled that rate cuts could begin as early as July in response to growing economic risks, rising U.S. trade tensions and tepid inflation. The Fed has cited high levels of U.S. corporate debt among major risks to the economy today.

Rosengren’s speech focused largely on lessons from the late-1990s financial crisis in East Asia and what he sees as weaknesses in Japan’s financial system today. The speech also pointed to the role that central banks’ powers beyond setting rates, including overseeing banks, may play in the next downturn. Policymakers could have lessened the impact of prior financial crises by “stress testing” banks and requiring them to hold extra cash, Rosengren said.

“Despite the passage of time and adoption of better policies, one could argue that the Japanese banking system is now, once again, being threatened by adverse economic conditions,” said Rosengren, who was at the Boston Fed when the 2008 global financial crisis shook the economy.

“A shrinking population, aging demographics, and very low interest rates provide very little room for Japanese banks to operate profitably. This of course provides an incentive to reach for yield, potentially implying additional risk-taking.”

While Rosengren endorsed requiring banks to keep extra capital cushions during good times, the Fed itself has shied away from requiring banks to do so, keeping its “Countercyclical Capital Buffer” requirement for banks at 0%. Rosengren does not have a vote on those capital requirements.

The Fed is due to report later on Friday some results from its own annual “stress tests” of banks’ ability to weather a major downturn.