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US outlook highly uncertain, businesses ‘pessimistic’: Fed

first_imgAmong the nearly US$3 trillion in rescue measures approved by Congress since the pandemic hit, the government provided an additional $600 in weekly jobless payments temporarily, on top of any state benefits, and extended the time period for receiving payments. Topics : “Although many contacts expressed hope that overall activity would pick-up as businesses reopened, the outlook remained highly uncertain and most contacts were pessimistic about the potential pace of recovery,” the survey said.The disruptions due to the COVID-19 pandemic caused activity to decline in all of the Fed’s 12 districts, with most reporting sharp slowdowns along with steep declines in employment, the survey showed.Government data shows job losses since mid-March are approaching 40 million, although some of the Fed’s regional banks report that most of the layoffs are considered temporary.Businesses also cited a list of “challenges in bringing employees back to work, including workers’ health concerns, limited access to childcare, and generous unemployment insurance benefits,” the report said. Retailers strugglingThe government’s Paycheck Protection Program (PPP) offered low-cost loans that businesses will not have to repay if they keep employees on their payrolls and off state unemployment rolls.The Fed survey reported strong demand for PPP which helped firms “limit or avoid” layoffs.However, some companies reported offering temporary wage increases for essential workers “to compete with unemployment insurance,” which was expanded amid the pandemic.In Boston, many firms reported pay increases of as much as 25 to 30 percent “because of work-related risks,” but they expect the increases to be temporary, the report said.In New York, the state hardest hit by the virus, the economic downturn continued, but there were rays of hope amid “scattered signs of a pickup in early May,” as the region began to tentatively reopen.Businesses resorted to curbside pickup and online sales to partially compensate for lost sales when they were forced to close their doors, but auto sales and construction “ground to a halt.”And “there continued to be fairly widespread pessimism” among businesses in the New York region.The survey also showed signs of potential financial challenges ahead once the economy restarts.Retailers are struggling to pay rent, according to the survey, and while residential landlords say fewer households than expected delayed payment, in St. Louis, “Banks indicated a sharp increase in delinquencies, primarily in mortgages, credit cards and auto loans.”The nationwide survey collected information through May 18 in preparation for the next meeting of the Fed’s policy-setting Federal Open Market Committee on June 9-10. After weeks of economic shutdowns, the outlook for a US rebound remains “highly uncertain” and businesses nationwide are gloomy about how quickly things can return to normal, the Federal Reserve said Wednesday.At the same time firms worry that generous unemployment benefits make it difficult to retain workers or to bring them back to their posts once they are able to reopen, according to the Fed’s beige book survey of economic conditions.The survey showed activity in the world’s largest economy continued to fall sharply in recent weeks in all regions, with auto sales falling sharply and tenants unable to pay rent.last_img read more

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Liverpool enter race to sign long-term Arsenal transfer target Dominik Szoboszlai

first_img Metro Sport ReporterWednesday 13 May 2020 10:53 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link663Shares Advertisement Liverpool enter race to sign long-term Arsenal transfer target Dominik Szoboszlai Szoboszlai would cost around £26m (Picture: Getty)Liverpool are reportedly preparing another transfer raid on Red Bull Salzburg, this time for highly-rated midfielder Dominik Szoboszlai.The 19-year-old has consistently been linked with a switch to the Premier League, with Arsenal regarded as long-time admirers of Szoboszlai.Arsenal have seen their transfer budget slashed due to the ongoing coronavirus pandemic, but the talented Szoboszlai might be picked up for just £26million in the next window.Liverpool secured the bargain £7.25m signing of Takumi Minamino last January from RB Salzburg and are eager to repeat the trick with Szoboszlai.ADVERTISEMENTMinamino has been eased into life at Liverpool and although he has made just seven appearances for the Reds since joining, Jurgen Klopp expects big things from the Japan International.AdvertisementAdvertisementItalian outletTuttosport claim the Reds have entered the race to sign his former team-mate Szoboszlai, but will face competition not only from Arsenal, but Borussia Dortmund and RB Leipzig.Klopp will be very familiar with Szoboszlai, as Liverpool played the Hungarian and Salzburg in the Champions League group stages. Liverpool snared Minamino from Salzburg last January (Picture: Getty)Minamino managed to convince Klopp to sign him with his performances against the Reds and it appears Szoboszlai has now caught the German’s eye.While Arsenal are reportedly targeting free transfers and swap deals, it is unclear how Liverpool’s transfer business will be affected by the public health crisis.The Reds have been linked with a move for RB Leipzig striker Timo Werner and Lyon midfielder Houssem Aouar, who are both long-term targets of Klopp’s.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityBut for now Liverpool’s focus will be on winning their first ever Premier League title, with players gradually returning to training this month.Premier League chiefs want to finish the 2019/20 season this summer which would likely see the upcoming transfer window moved, putting any plans Liverpool or Arsenal might have on hold.MORE: Patrick Vieira praises Mikel Arteta’s impact as Arsenal bossMORE: Bayern Munich chief hits out at Liverpool, Man Utd and Chelsea transfer target Timo WernerFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram. For more stories like this, check our sport page. Advertisement Commentlast_img read more

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Tidetec Puts Its Turbine to Test

first_imgTidetec has completed installation of its tidal turbine is in the test rig at the Technical University of Munich.The following month the turbine will be tested to show performance data, Tidetec  informed.The performance data from the lab tests will verify the overall efficiency for these types of turbines.In addition to increase in efficiency, the Tidetec solution is 35% lighter and has a reduced number of moving parts, the company said. The cost saving on this system compared to the Kaplan bulb are expected to be in the range of 6-9%.According to Tidetec, several companies have contributed to the turbine development, namely: TUM, Minikraft, Metrotidal, Mareval, Norwegian Research Council (Eurostars) and 1-Tech.last_img

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Negros councilor dies of COVID-19

first_imgOther people then catch COVID-19 bytouching these objects or surfaces, then touching their eyes, nose or mouth,said WHO.  “Mayroon nang community quarantine sa bayan ngTayasan. All councilors of Tayasan and some [from] Negros Oriental na nakasamaniya sa Councilors League [ay] under quarantine din,” he added. Patient 39 was initially confined atthe Ace Doctors Dumaguete, Inc. hospital. Greenhills was where Patient 5 – whoeventually died a few days before Patient 39 – used to frequent to pray at aprayer hall, according to the Department of Health. He visited Greenhills Shopping Centerin San Juan City flying back to Tayasan on March 1. People can also catch COVID-19 if theybreathe in droplets from a person with COVID-19 who coughs out or exhalesdroplets. This is why it is important to stay more than one meter (three feet)away from a person who is sick, it added. He was considered immune-compromisedas he was a kidney transplantee. He attended a flag-raising ceremony at Tayasanon March 2 and the graduation ceremony of Tayasan elementary students before displayingCOVID-19 symptoms. Negros Oriental governor Noel Degamosaid the 62-year-old councilor, identified by the Department of Health (DOH) asPatient 39, succumbed to the disease at 11:09 a.m. Three of 15 people in the provincesuspected of carrying the virus tested negative, while 264 are being monitored. MANILA – A Negros Oriental towncouncilor, the first confirmed case of coronavirus disease 2019 (COVID-19) inthe Visayas, died yesterday. According to the World HealthOrganization (WHO), people can catch COVID-19 from others who have the virus.The disease can spread from person to person through small droplets from thenose or mouth which are spread when a person with COVID-19 coughs or exhales.These droplets land on objects and surfaces around the person. The most common symptoms of COVID-19are fever, tiredness, and dry cough. Some patients may have aches and pains,nasal congestion, runny nose, sore throat or diarrhea. These symptoms areusually mild and begin gradually. Some people become infected but don’t developany symptoms and don’t feel unwell. Mark Angelo Llosa, chief of Negros OrientalProvincial Hospital where the councilor was confined, said in a separateinterview that the councilor likely had multiple organ failure and was set tobe cremated yesterday. WHO said most people (about 80percent) recover from the disease without needing special treatment. Around oneout of every 6 people who gets COVID-19 becomes seriously ill and developsdifficulty breathing. Older people, and those with underlying medical problemslike high blood pressure, heart problems or diabetes, are more likely todevelop serious illness./PN The patient was a councilor fromTayasan who went to Manila on Feb. 26 to attend the Philippine CouncilorsLeague convention. last_img read more

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John Smoltz, Hall of Fame

first_imgThis past Sunday John Smoltz of Atlanta was inducted into the baseball Hall of Fame.  The starting pitcher/reliever believes that he may be the last pitcher who had Tommy John surgery to be inducted into the Hall of Fame.  His theory in collaboration with Dr. Jobe is that pitchers today throw too hard and do not learn how to pitch correctly.  Smoltz believes that a pitcher’s arm will last much longer if you throw a variety of pitches rather than just see how hard you can throw.Smoltz also believes that if you have Tommy John surgery you should take at least 14 months off after having the surgery.  Some pitchers today are coming back to pitching in less than a year.  It is not uncommon for a pitcher to have two or more Tommy John surgeries.If you are a kid, he believes you need to take 2-4 months each year when you do not throw or play a game.  He does not believe in year-round pitching.  There have been almost 300 Tommy John surgeries for pro pitchers since 2000.  Smoltz would say that Aroldis Chapman is not his idea of a pitcher, but just a thrower.last_img read more

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Double Header Delayed Until 3:15 CST

first_img Share Double Header Delayed Until 3:15 CST April 28, 2007FLORENCE, Ala. – Due to a scheduling conflict with the umpires, West Florida’s doubleheader at North Alabama on Saturday has been delayed until 3:15 p.m. CSTPrint Friendly Versionlast_img

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Accident leaves downed power lines on US 52

first_imgNew Trenton, IN —A little before 4:30 this morning, New Trenton Volunteer Fire Department and FC EMS were dispatched to US52, in New Trenton, for an accident with injuries. A vehicle hit both a telephone pole and a building. It is also reported that there was a downed pole and wires in the roadway from the incident.  The incident is still under investigation.last_img

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Argentina Spies on Eagles against DR Congo

first_imgAccording to the publication, “The Nigerian team fails to lift its head, after a defeat in March against Serbia and the recent news of the injury of Moses Simon, who for that reason will miss the World Cup,” the Argentine medium remarked.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Super Eagles’ perceived main rivals in Group D of the World Cup in Russia, Argentina, sent spies to monitor the three-time African champions as they take on DR Congo in an international friendly last Monday in Port Harcourt.Argentina’s media group, TyCSports which also uploaded video clips of the match on its website described the game as a ‘timid’ draw.In the video clips, Eagles were given man-by-man analysis of the Nigerian squad.last_img read more

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Senior departures leave hole at LB

first_imgJust like the quarterback position, the Wisconsin linebackers will be battling all spring for spots on the depth chart.[/media-credit]While a lot of focus this spring season will be directed toward the Wisconsin quarterback and running back positions, there also are several defensive positions with question marks.Among those is linebacker, where the Badgers will be without the services of graduating seniors Jonathan Casillas and DeAndre Levy, as well as Elijah Hodge, who has decided to forego his fifth year in favor of graduating in May.Replacing the two starters and three seniors will be a tough challenge for the Badgers over the next five months before the 2009 season kicks off.“Those three guys — Dre, JC and even Hodge — all made a lot of tackles last year,” linebacker Jaevery McFadden said. “But, there’s not really a lot of pressure. I feel like this year we’re just trying to get back to the basics of being a physical, dominant team.”“It’s exciting this spring with JC and DeAndre Levy leaving,” linebacker Blake Sorensen added. “Guys need to step up, and right now my name’s being called, so it’s a lot of fun. We’ve just got to try to get better this spring and improve.”Enter juniors Sorenson and Culmer St. Jean alongside redshirt senior McFadden — who led the team in tackles with 84 as a starter in 2008 — into the starting lineup for Wisconsin.As the current No. 1 unit at linebacker for Wisconsin in spring ball, Sorenson, St. Jean and McFadden also are the only Badgers with starting experience at the position. As a result, the questions of depth and youth at linebacker come into play.“As far as depth, there’s guys that don’t really have that experience,” McFadden said. “But we’ve got a lot of good guys that can really play. They just need to get the playbook down and the basics of the defense to make our depth that much more reliable.”Sorenson, a 6-foot-1-inch native of Eden Prairie, Minn., has been a reliable special teams player for the Badgers over his first two seasons while seeing some time at linebacker, but with the opportunity to enter the season as a starting outside linebacker, he knows he must make the most of it.Not only is it Sorenson’s chance to prove he deserves the starting role, but with a lack of depth at linebacker, Wisconsin will need Sorenson to play a big role defensively in 2009.“It’s really important; the guys are counting on me to do well, and I also put a lot of pressure on myself to do well,” Sorenson said. “I just try to come out and compete every day to try to get better.”The 6-foot-1-inch St. Jean also played a lot on special teams last year for the Badgers before recording a career-high nine tackles while seeing extensive time at linebacker against Cal Poly and starting against Florida State in the bowl game.St. Jean will replace McFadden at middle linebacker this season, forcing the redshirt senior to the outside and earning not only the pressure of starting, but also the added weight that comes along with playing in the middle of the Badgers’ defense.“In my eyes, I see it as the quarterback of the defense,” St. Jean said. “I’m just trying to improve and take that leader role and make plays.”And though two-thirds of the starting lineup is different than it was at this time a year ago, the players don’t feel like the situation they find themselves in is really much different.“Nothing has really changed,” St. Jean said. “I played with [Sorenson and McFadden] before as the twos, so the chemistry is there and the communication is there. The only difference now is that we’re in the starting roles.”As the only senior starting linebacker, McFadden has had to step up into a leadership role as well with the departure of Casillas, Levy and Hodge. For the 6-foot-3-inch native of Riviera Beach, Fla., the transition has been one of actions more than words.McFadden has made an effort to be a leader wherever he can, from what he does on the field to the little things, like cleaning up after himself in the locker room.“I’m just trying to be a leader in everything I do,” McFadden said. “Everybody is looking at me to lead with me being the oldest guy here now, and I think actions speak louder than words. So, I’m just basically trying to do the right thing all the time.”Additionally, as the elder statesman of the group, McFadden has had the opportunity to watch both Sorenson and St. Jean develop over the last two years, giving him a good perspective on their respective strengths and weaknesses.Sorenson and St. Jean showed what they could do Saturday in practice — the first with full pads — as they both recorded interceptions during drills against the first-string offense.While the interceptions may not count for much in spring ball, the opportunity to pick off their own quarterbacks gives the linebackers an extra sense of confidence.“We have a big play chart and a bad play chart, and we always compete,” St. Jean said. “Any time you can get your name on that big play chart, you get a little bragging rights and you can talk a little smack to the opposite side of the ball, so it’s fun.”For McFadden, the key to both players is their wealth of game experience despite this being the first year in a starting role.“Blake is a good guy — he does a lot of good things,” McFadden said. “And even though this is his first year starting, I think Blake will surprise people with what he can do.”“Culmer has a lot of game experience, but this is his first year starting out starting,” McFadden continued. “He showed what he can do in a couple games last year, and I think those two guys are going to pick up right where JC, Dre and Hodge left off.”last_img read more

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Fast reaction: 3 quick takeaways from Syracuse’s 76-72 overtime loss against No. 8 Louisville

first_imgSyracuse (16-11, 8-6 Atlantic Coast) crawled out of another double-digit deficit to take a lead in the second half then again in overtime, but the Orange couldn’t hold on in a 76-72 loss to No. 8 Louisville (21-5, 9-4) on Monday night in the Carrier Dome. SU struggled mightily from 3-point range, and despite scoring the first three points of the extra period, the Orange couldn’t pull off its third straight home win over a top-10 team as Tyler Roberson missed a pair of foul shots with SU down two and 2.7 seconds left.Here are three takeaways from Syracuse’s second straight defeat.Deep troubleSU entered Monday the third-best 3-point shooting team in the ACC at 39.1 percent. The Orange hardly lived up to that billing against the Cardinals, shooting a paltry 8-of-34 from behind the arc.The player who had made almost more than twice as many 3-pointers as anyone else on the team coming into the game, Andrew White, turned in an abysmal 2-of-14 showing from long range. Everyone else combined to shoot 30 percent from behind the arc, while Louisville carded a 32-percent clip from 3-point land.AdvertisementThis is placeholder textSyracuse has often delivered a crunch-time 3 to put it over the hump, especially at home, where the Orange hadn’t yet lost in conference play before Monday night. That rarely came against the Cardinals, and Syracuse suffered its 11th loss of the season.Coming back to lifeAfter one of his worst performances of the season in Saturday’s loss to Pittsburgh, an eight-point, three-turnover showing on 3-of-7 shooting from the field, Lydon turned in arguably the best performance on the team in Monday’s loss to the Cardinals.He scored in a variety of ways in the first half — from beyond the arc, the low post, on follow-up dunks and from the foul line. His team-leading 11 points at the break helped Syracuse trim an early 14-point deficit to four when the first 20 minutes were up.With Syracuse shooting 3-of-21 from deep, Lydon hit the team’s fourth 3-pointer on the night to put the Orange up, 45-43. That lead swung back to Louisville in short order when Donovan Mitchell hit a long ball of his own.The sophomore finished with 14 points on 11 shots, also chipping in nine rebounds and four assists.Not his usual selfWhite’s customary 3-pointers were hard to find in the Dome on Monday night, but the fifth-year senior still found a way to leave his mark when all was said and done. White shot only 14.3 percent from beyond the arc but still extended his streak of scoring 20 or more points to seven games.It wasn’t only from long range that White struggled — he threw away a pass in the backcourt that led to a seamless Mitchell breakaway layup and he almost threw away a second several possessions later. The next shot SU took was a White airball from the corner.Out of the under-four timeout, Syracuse had a chance to cut its deficit to four when White caught the ball wide open on the left wing. He hoisted up a 3-pointer, but just like 11 other times Monday night, it missed. He did hit from right in front of the Syracuse bench to trim the SU deficit to five with 36 second left in overtime, but by that time it was too late despite his 22-point showing. Comments Published on February 13, 2017 at 9:29 pm Contact Matt: mcschnei@syr.edu | @matt_schneidman Facebook Twitter Google+last_img read more

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