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16 days agoMan City retain buyback clause for Sporting Gijon midfielder Manu Garcia

first_imgMan City retain buyback clause for Sporting Gijon midfielder Manu Garciaby Paul Vegas16 days agoSend to a friendShare the loveManchester City retain a buyback clause with Sporting Gijon midfielder Manu Garcia.The 21-year-old signed for Spanish second division club Sporting Gijon for £3.5million in the summer after spending the previous three seasons on loan.Gijon’s sporting director Miguel Torrecilla has revealed that City inserted a buyback clause in the contract which can only be activated within the next two years.“They have an option to take him back, but it would generate a significant profit for us,” said Torrecilla. “They have two years to buy him back.“I don’t want to go into numbers, but we would be talking about one of the best deals in the history of Sporting.” TagsTransfersAbout the authorPaul VegasShare the loveHave your saylast_img read more

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North American stocks end up as ChinaUS trade war worries ease

first_imgStrength in the energy sector helped push Canada’s main stock index to triple-digit gains Thursday as worries about a trade war between China and the United States eased.“What we’re seeing today is really some encouraging developments on the whole U.S.-China debacle,” said Candice Bangsund, vice president and a portfolio manager at Global Fiera Capital Corp.U.S. officials have signalled a willingness to return to the negotiating table after China rapidly matched US$50 billion in U.S. tariff threats with a list of their own.The response was seen as more aggressive than the market was expecting, but the combination of assertiveness with a measured response helped increase the appetite for negotiations, said Bangsund.“Really it did work to get the U.S. officials to sort of soften their tone and walk back…Policymakers seem really intent on finding a compromise, which has really helped to ease fears for that full-blown trade-war scenario, and really rekindled the risk-on trade today.”The increased risk appetite helped drive up equity prices in general, but especially cyclical sectors like energy, materials, industrials, and financials that dominate the TSX, said Bangsund.In the end, the S&P/TSX composite index closed up 191.68 points or 1.26 per cent at 15,356.05, led by energy and base metals.The higher emphasis of the TSX on cyclical sectors also meant it outperformed U.S. indexes, which all gained less than a per cent.In New York, the S&P 500 index ended up 18.15 points at 2,662.84. The Nasdaq composite index was up 34.44 points at 7,076.55, and the Dow Jones industrial average closed up 240.92 points at 24,505.22.The higher gains of the TSX marked a shift from the tougher market it has faced amid economic uncertainty, said Bangsund.“The TSX has been unfairly punished basically because a lot of the headline risks out there, be it NAFTA or elevated debt levels, or the widening oil differentials. So there’s a lot kind of overhanging the TSX, but a day like today is obviously going to close that a little bit.”The Canadian dollar also saw a small gain today, up 0.20 of a US cent to average 78.27 cents US, even as trade data disappointed.Statistics Canada said Thursday that Canada had a trade deficit of $2.7 billion in February, higher than the $2 billion economists had expected according to Thomson Reuters.The negatives on trade were balanced by positive news elsewhere, including on trade and energy, said Bangsund.“The trade numbers came in worse than expected, so higher deficit than consensus forecasts, but at the same time this afternoon you’re hearing some positive developments on the NAFTA front, with Trudeau being optimistic that a deal can be done.”The May crude contract closed up 17 cents at US$63.54 and the May natural gas contract was down four cents to US$2.67 per mmBTU.The June gold contract was down US$11.70 to US$1,328.50 an ounce and the May copper contract was up six cents to US$3.07 a pound.last_img read more

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Canada arrests CFO of Chinas Huawei Technologies

first_imgTORONTO — Canadian authorities have arrested the chief financial officer of China’s Huawei Technologies, who is facing extradition to the United States.Justice Department spokesman Ian McLeod said Wednesday that Meng Wanzhou was arrested in Vancouver, British Columbia, on Saturday. He said Meng is sought for extradition by the U.S.McLeod says as there is a publication ban in effect and he could not provide any further details. The ban was sought by Meng, who has a bail hearing Friday.The Wall Street Journal reported earlier this year that U.S. authorities are investigating whether Chinese tech giant Huawei violated sanctions on Iran.Meng is also deputy chairman of the board and the daughter of company founder Ren Zhengfei.Rob Gillies, The Associated Presslast_img

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P2P lending ensure safer investments with stricter norms under RBI guidelines

first_imgDuring the initial phase, since there was no regulation, the sector lacked credibility and trust by lenders as well as borrowers. Even then, the sector did well as on one side there was a lot of demand for credit from borrowers who did not get credit from banks and NBFCs. And, on the other side, there were lenders/investors that were looking for investment opportunities to deploy their surplus funds to earn better returns. The RBI Regulations have put in a lot of checks and balances to protect the interests of all stakeholders. Some of the Regulations that are helpful for lenders include: Also Read – An income drop can harm brain Eligibility Criteria As per RBI Regulations, no NBFC-P2P can commence or carry out P2P Lending business without obtaining the Certificate of Registration (CoR) from the RBI. For registration, the company should have a net owned fund of Rs. 2 crores or higher. This regulation makes sure only serious companies enter the P2P lending business. It ensures that fly by night operators stay away from this business. Process of Registration Also Read – Shallu Jindal honoured with Mahatma AwardFor registration, the company has to make an application in the specified form to the RBI. The RBI has set stringent conditions to be fulfilled. Some of these include the promoters and directors of the company are fit and proper, the company has technological, entrepreneurial and managerial resources, the company has submitted a viable business plan etc. Scope of Activities The RBI has cleared defined the scope of activities that registered P2P lending platforms can undertake. An NBFC-P2P has to act as an intermediary providing an online platform to participants involved in P2P lending. It cannot raise deposits and it cannot lend on its own. It cannot cross-sell other products. The defined scope of activities makes sure the P2P Lending platform is focused on its core activity and avoids any distractions in the form of unwanted diversifications. Prudential Norms A lender can lend a maximum of Rs. 10 lakhs to all borrowers at any point of time, across all P2P Investments platforms. A borrower can take maximum loans of Rs. 10 lakhs at any point of time, across all P2P Investments platforms. A single lender cannot lend more than Rs. 50,000 to the same borrower, across all Investments platforms. The maximum tenure of loans cannot exceed 36 months. This regulation makes sure that a lender does not take too much risk by lending too much across all P2P lending platforms. It also makes sure a borrower does not borrow too much across all P2P Investments platforms as too much of debt may make it difficult for him/her to repay the loans. Fund Transfer Mechanism All money collected from lenders (for disbursement to borrowers) has to be done through escrow account operated by a trustee. Also, all money collected from borrowers in the form of EMI repayments (for transfer to lenders) has to be done through an escrow account. All fund transfers have to be done through and from bank accounts and cash transactions are strictly prohibited. This regulation makes sure the lender’s money is used only for disbursement to borrowers and not for any other purpose. Submission of data to Credit Information Companies (CICs) An NBFC-P2P has to become a member of all 4 CICs, which include CIBIL, Equifax, Experian, and CRIF High Mark. The company has to submit all credit information (including historical data) relating to borrower transactions to the CICs. The company has to update the data regularly on a monthly basis. This regulation ensures all delays/defaults by borrowers are reported to the CICs thereby impacting their credit score negatively. This regulation is good for lenders as it will make sure that borrowers don’t delay/default on loan repayments. A delay/default reported to the CICs will make it difficult for the borrower to get loans in the future from any bank or NBFC or P2P Lending platform. Hence the borrower will have to think ten times before delaying/defaulting on EMI repayment. This regulation will help in lowering the overall delay/default rates. Transparency and Disclosure Requirements An NBFC-P2P has to publicly disclose on its website the portfolio performance including a share of non-performing assets on a monthly basis and segregation by age. Disclosure of portfolio performance including a share of non-performing assets on a monthly basis will give a lender an insight about the robustness of the credit underwriting systems and loan recovery mechanisms of the NBFC-P2P. It helps the lender make an informed decision on whether he/she should invest his/her hard earned money through this platform or not. Participant Grievance Redressal The company has to put in place a Board approved a policy to address participant grievances/complaints. Complaints have to be handled/disposed within one month from the date of receipt. The company has to appoint a Nodal Officer / Principal Nodal Officer. (Raghavendera Pratap Singh, Co-founder, i2iFunding. The views expressed are strictly personal)last_img read more

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Ohio baseball on the rise Indians Reds weeks in review

After winning only one game the previous week, the Cleveland Indians bounced back, winning four of their past six games, including an eight-run ninth inning comeback in Saturday’s 8-2 win over the Baltimore Orioles.The Tribe won two series on the road against the Kansas City Royals and then against the Orioles, combining to give up just five runs in the four wins.The Indians now have a record of 15-20, and have moved up to third place in the American League Central.Stud: Russell Branyan. Despite only playing 17 games so far this season, Branyan delivered an outstanding offensive week of baseball. He improved his batting average to .245 and had four home runs and seven RBIs.Dud: Justin Masterson. The former Boston Red Sox pitcher has struggled in 2010, and had another rough outing Friday against Baltimore, giving up six runs on eight hits in 5.1 innings, taking his fourth loss of the season. Masterson remains the only Cleveland starting pitcher without a win.Up Next: The Indians have a pair of two-game series at Tampa Bay and home against the Royals before hosting Cincinnati for three games in interleague play.——————————————–Everything seems to be clicking with the Reds lately, and they now sit atop the NL Central with a half game lead over the Cardinals.After having been swept by the Pirates in a 3-game series earlier in the year, the Reds went back the Pittsburgh to return the favor.Dynamite pitching throughout the series from the Reds’ rotation held the Pirates to just one run in three games. Bronson Arroyo had a solid seven-inning outing in the first game and Johnny Cueto and Homer Bailey each pitched complete game shutouts, allowing one and four runs respectively.The Reds then attempted to defend their five-game winning streak back home in a series against the Cardinals.In the first game, the Reds scored three late runs to climb within 4-3, but couldn’t muster any more late game heroics beyond that.The Reds were defending a late lead in the second game when a brilliant play at the plate on a potentially game-tying run by Chris Heisey and Ramon Hernandez allowed the Reds escape with a 4-3 win of their own.The Reds won the third game 7-2 thanks to Bronson Arroyo’s complete game.Studs: Johnny Cueto. Homer Bailey deserves credit as well with his four-hit complete game, but Cueto was just one hit away from pitching the Reds’ first no-hitter since 1988.Duds: Joey Votto. It’s been a great week for the Reds, but he batted less than .200 for the week.This Week: The Reds won’t get a day off this week, as they host the Brewers in a two-game series starting Monday, visit the Braves for another on Wednesday and close out the week with a three-game series at Cleveland on Friday. read more

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Monchi wants Roma fans to be on their best behaviour

first_imgRoma’s director of football urged fans to be on their best behaviour at their clash with Liverpool and the team to beat the Reds as well.Roma’s ultras have been famous for their violent record – if the other clubs have moved past the violence in the 80s of the last century, Roma supporters seem stuck in the past. They are known for stabbing five Manchester United supporters in 2007, a few Tottenham fans later, then there were Arsenal, and Chelsea, and Liverpool, and so on – even Middlesbrough supporters were affected.However, Monchi stated the fans are not violent and urged them to show their true nature.Top 5 Atletico Madrid players to watch in next week’s UCL Tomás Pavel Ibarra Meda – September 14, 2019 With the Champions League about to start, we need to start talking about the Top 5 Atletico Madrid players to watch in the competition.Atletico…“At this time when we talk about violence, we need to make it clear Roma fans are not violent,” Monchi said, according to Liverpool Offside.“Football and life are two different things. We are all human beings.”“Beating Liverpool is more difficult than beating Barcelona,” Monchi shared. “Tomorrow does not exist—it ends all Wednesday and we must not leave anything in it. Every grandfather, every nephew, son, father, mother. Everybody plays on Wednesday.”last_img read more

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Lionel Messi increasingly sure he will not join another European team

first_imgBarcelona forward Lionel Messi has said that he is “increasingly sure” that he will never play for another European club.The 30-year-old suggested that he could return to his homeland in Argentina to play for Newell’s Old Boys.“I always said I wanted to play in Argentine football one day,” Messi told Argentine television station El Trece via BBC.“I don’t know if it will happen but I have it in my mind. It would be at Newell’s, nowhere else. I would like to do that for at least six months, but you never know what will happen.“I’m increasingly sure that in Europe, Barcelona will be my only club.”FC Barcelona, Valencia CFMatch Preview: Barcelona vs Valencia Boro Tanchev – September 14, 2019 Is derby time in La Liga, as Barcelona welcomes Valencia to the Camp Nou Stadium tonight at 21:00 (CET).Messi is currently with the Argentina squad preparing for the 2018 World Cup in Russia and has started out at Newell’s Old Boys before joining Barcelona aged when he was a teenager. He also signed a new deal with Barcelona last November which runs until 2021 and has a generous buyout clause of 700m euros (£612m). Messi has won a Fifa Under-20 World Cup and Olympic gold medal with his country but has yet to win a senior international competition, losing the final in the 2014 World Cup and three Copas America.However, he says he does not regret choosing to play for his native country rather than Spain, who won the World Cup in 2010.“The other day I was talking to a friend and he told me ‘if you had chosen Spain, you’d be a World Cup winner already’, but it wouldn’t have been the same,” added Messi.“Obviously in no moment did I think about doing that. To win it with Argentina would be something unique.”last_img read more

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Neymar I didnt want the Brazil No 10 jersey

first_imgNeymar revealed that he initially didn’t want anything to do with the No. 10 jersey that he now wears for both Brazil and Paris Saint-GermainBrazilian greats Pele, Zico, Rivaldo and Ronaldinho have all donned the iconic shirt over the years for the national team with Neymar the latest to inherit it.The No.10 jersey normally goes to the player with the most creative influence within the team, which makes Neymar the natural choice given his attacking flair.And the 26-year-old appears to have embraced it with manager Tite recently naming him the new Brazil captain.But Neymar revealed that there had been a period where he avoided wearing the shirt, which began in his early days back at Brazilian side Santos, where he hoped to emulate idol Robinho.PSG, Neymar, Ligue 1PSG ultras sent a warning letter to Neymar Manuel R. Medina – September 14, 2019 Brazilian superstar Neymar might play today his first game of the season for Paris Saint-Germain and the team’s ultras have warned him.“Robinho was always my biggest idol and therefore at Santos I wanted to play with the number seven and started using it,” Neymar told UOL Esporte.“Then Robinho came back and I had to respect him, so I took 11, which was the second option I liked the most.”He added: “Before the Confederations Cup, [Luiz Felipe] Scolari was distributing the numbers and I told him that I liked seven and 11.“Dani Alves, however, looked at me and said: ‘You are the 10, put it on. You have to use it’.”After wearing the No.11 jersey for four years at Barcelona, Neymar is also the 10 at PSG following his world record €222m last year.last_img read more

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