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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-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.

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.”

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.

Egyptian pound appreciates to highest in over two years

CAIRO, March 17 ( ) – The Egyptian pound strengthened on Sunday to its highest in over two years, boosted by an increase in foreign funds into the country.

The currency was trading at 17.34 to the dollar o上海夜生活n Sunday, up more than three percent from 17.86 on Jan. 22 when it began its latest round of strengthening.

“You’re seeing most of the indicators improving,” said Hany Farahat, senior economist at Egyptian investment bank CI Capital. “Tourism, exports, substitution of natural gas imports with domestic production, remittances are at a peak, FDI is improving slightly.”

He also said the higher inflows were due in large part to Egypt scrapping a mechanism that guaranteed foreign currency for investors exiting the government securities market.

“Once the repatriation mechanism was abolished, it meant that every single inflow coming into the country reflects directly on interbank liquidity,” he said. “This, in tandem, should also reflect directly on EGP volatility against the dollar.”

“I think it has come a bit late. If the repatriation mechanism had been removed a year ago, this appreciation would have happened a year ago,” he said.

Since the central bank devalued the currency by about half in 2016, economists say it has closely controlled the value of the pound, which was last this strong in March 2017.

Allen Sandeep, head of research at Naeem Brokerage, said the higher inflows were also due to increased carry trade appetite for Egyptian treasury securities and improving balance of payments.

“We have now restarted LNG exports,” Sandeep said. “On an annual basis, assuming that we export 1 billion cubic feet (bcf) of gas every day, that adds more than $2 billion in exports per year.”

Egypt, which now exports 1.1 bcf of natural gas per day, became a net exporter in late 2018, a significant turnaround for a country that spent about $3 billion on annual LNG imports as recently as 2016.

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.”

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.”

Pochettino believes that Kane is the world’s best striker

Mauricio Pochettino, the Tottenham Hotspur coach, admitted that he considers Harry Kane to be the best striker in the world after he managed to score another hattrick to help his side with beating Southampton 5-2.

The Englishman had scored one hattrick in his side’s previous match against Burnley and he repeated it once again today – and thanks to these six goals, he has become the world’s top-scorer in 2017, surpassing Lionel Messi. And his coach, Pochettino, believes that he is currently the best stri上海夜网ker in the world and he proves it in every single match he has played this season so far.

The former Southampton coach spoke about this achievement as he said, according to Sky Sports: “First of all I want to congratulate Harry Kane, a massive achievement for him, well deserved. And we are all so, so, so, so happy because it’s an amazing thing to celebrate. For me, he’s world class. I think today, (number) one striker in the world, specific position, who’s better than him?”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 continued by adding that it is well-deserved for the Englan international: “He deserves everything. It’s been nine years between [Cristiano] Ronaldo and [Lionel] Messi, and now Kane’s name is there. It’s a fantastic achievement and I’m so happy for him. I’d like to congratulate him. Well done. It’s not surprising to us because every day we see how he works, the determination, how professional he is and how he takes care of himself.”

In the end, Mauricio Pochettino insisted that Kane is a great example for anybody: “I’ve told everyone that he is a great example for everybody, not just because of his goals. Professional is a massive word, and you need to include everything there inside – he’s a very good example of how a player behaves like a professional.”

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.

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.”

Shearer slams Liverpool’s title chances

Former England and Newcastle striker Alan Shearer believes that the Reds have way too many problems in the back to challenge for the Premier League trophy.

Liverpool have had an indifferent start of the season, recording only three wins in seven games, and currently sitting seven points adrift of table leaders Manchester United and Manchester City. Just like last season, the Merseyside club is struggling in the back, conceiving easy goals almost every single game. Not only are Liverpool sloppy when it comes to defending, but they are also struggling to materialize on the chances they create, which leaves Shearer convinced that Liverpool are not capable of challenging for the title this season.

The former English striker was questioned which team left him underwhelmed this season and Shearer responded: “Liverpool. Going forward, creating chances, they haven’t scored enough goals.” he said, according to Goal.

“And defensively they’ve been as poor as ever. Nothing has changed from last season.

“I was at the game when they played Newcastle. Same old problems defensively, had a lot of the ball in the first half and should have killed the game off.Crouch: Mane & Salah have a healthy competition for goals Andrew Smyth – Peter Crouch reckons Sadio Mane has doubled his value in recent seasons, and boasts a “healthy competition” with Liverpool team-mate Mohamed Salah for goals.

“One great goal from [Philippe] Coutinho but other than they were poor going forwa上海夜生活rd.

“They’ve got no chance of winning the Premier League playing like that.”

Even though the Reds sealed a top four finish last season, their defensive issues remain unsolved and Shearer believes that Klopp could have done more to prevent that from happening.

“I know they got into the top four last season and got Champions League, which was a success. But one of their problems last season was conceding too many goals. And nothing has changed from last season to this season. [Klopp] constantly rotates the goalkeepers, which cant be helpful for the defenders.”

Preview: Liverpool – Southampton

Liverpool are currently 5th in the Premier League table and Jurgen Klopp’s side will be looking to catch up on the top four today when they receive the visit of 13th-placed Southampton.

Flashscore presents the key facts before the match: 

Liverpool welcome Southampton to Anfield for this Premier League (PL) clash, but the visitors face an uphill task as they take on a side that are undefeated in their last 13 home games in all competitions.

Jurgen Klopp must try and reverse his poor record versus Southampton as there is no other side he has faced more in the PL without winning, drawing 3 and losing 1 of his 4 matches against them, with The Saints also knocking The上海夜生活 Reds out of the League Cup last season with a 2-0 aggregate victory in the semi-finals.

It is no secret that Liverpool defend likes strangers at times, shipping 17 goals in their 11 PL matches this season, but they have surprisingly managed to keep a clean sheet in 6 of their last 7 home games in the competition.Top 5 Premier League players in September’s last weekend Tomás Pavel Ibarra Meda – A fresh Premier League fixture just ended, which means we can talk about the Top 5 best players of September’s last weekend.After a fresh…

Sadio Mane was sent home from international duty this week after being left out of Senegal’s final World Cup qualifier against South Africa with a reported recurrence of an old hamstring injury and is therefore a major doubt to face his former club.

If they avoid defeat in this match, Mauricio Pellegrino’s side can make it 6 consecutive games without loss against Liverpool for the first time in their history, having won 3 and drawn 2 of the last 5 meetings in all competitions.

Missing players

Liverpool: A. Bogdan (knee injury), N. Clyne (muscle injury), D. Ward (back injury), A. Lallana (doubtful)

Southampton: J. Pied (knock), M. Lemina (doubtful).

Conte uncertain of Luiz’s future at the club

The defender missed Sunday’s game against Manchester United as he was not even featured in the group for the game.

Chelsea manager Antonio Conte said he did not know if David Luiz has a future at the club after the Brazilian was left out for the Premier League showdown against the Red Devils.

Luiz was replaced by Andreas Christensen for the game against Mourinho’s men, with the full-back not even making it into the bench as 17-year-old Ethan Ampadu was chosen over him.

Despite the absence of David Luiz, Chelsea went on to take the three points thanks to Morata’s header in the 64th minute.Jamie Carragher puts Chelsea over Manchester United and Arsenal Nedim Maric – In an uneventful上海夜生活论坛 derby, last night, Manchester United and Arsenal both got point each.Top four-fight this season looks like it’s going to be between…

Speaking after the game Conte ruled out that there is a problem with Luiz, stating it was only his form that made him leave the Brazilian out of the squad. However, he also added that he has no idea if Luiz has future at the club even though he started during the week in the Blues’ 3-0 loss to AS Roma in the Champions League.

“Luiz’s future? I don’t know. He has to work really hard otherwise he will be on the bench or in the stand,” the manager explained to the BBC after the game. The Italian also added that this could happen to each and every one of his players, should they be out of shape.

Yet, speaking before the game to Sky Sports, Conte stated that the decision was entirely from a tactical point of view: “It is a tactical decision. There is Andreas Christensen in good form and we have Ethan Ampadu who is a good, young player at the club.

“We are conceding many goals so you have to find stability and solidity. We have to be patient with the team and defend in the right way.”

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.”

Valverde defends Piqu\u00e9’s handball

The Catalan boss believes the defender’s handball was simply instinctive.

Barcelona head coach Ernesto Valverde was adamant that Gerard Piqué acted unconsciously when he reached for the ball with his hand. The full-back was sent off as a result of the handball since he already had a yellow card, but Valverde is certain that the Spaniard’s actions were uninten上海夜生活网tional.

Speaking after the game, as quoted by Football Espana, Valverde stated: “When I watch games on TV, they seem placid, but it’s not the case,”

“We knew they’d get stronger once we went down to 10 men. That’s why we needed to find a second goal, so things would become easier.

“They came to defend and find a goal on the counterattack. With our opponents playing so deep, it was tough to find rhythm. Why take risks if they played deep and we had 10 men?Victor Lindelof’s agent confirms Barcelona interest Andrew Smyth – Victor Lindelof’s agent confirmed that Manchester United blocked a move to Barcelona for his client during the summer transfer window.

“Opponents disappointing? Olympiacos aren’t top [of their League] and came with the idea of surprising us in order to gain mental strength.

“They played a game that suited them, but we came away with very clear ideas.

“Piqué? I haven’t seen the replays, but I’d imagine it was all instinct, with the goal so close to him.”

Barcelona did not stop their perfect run in the Champions League as they now have three wins in three games, leading undisputedly their group in Europe.

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.