FFL Flash Alert - Noah Fant’s been a top-10 TE over the last four weeks. Can the Bronco help you bring home the hardware?
FFL Flash Alert - Noah Fant’s been a top-10 TE over the last four weeks. Can the Bronco help you bring home the hardware?
(Bloomberg) -- Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and subscribe to our Covid-19 podcast for the latest news and analysis on the pandemic.A huge pile up of fish cargoes at a Chinese port risks impacting shipments of frozen food across the country and beyond.Hundreds of containers are being held up in Dalian, a major port for seafood imports, as local authorities test the fish for the coronavirus before allowing them to clear customs, according to several freight forwarders, consultants and shipping companies. That’s leading to scant availability of electric outlets to keep refrigerated containers, known as reefers, cold.The shortage of plug points and dwindling space at the port have prompted shipping liners to cancel new reefer bookings into Dalian, and the congestion is now spreading to other refrigerated items like fruit and dumplings. It also means frozen containers are being diverted to other ports in China, leading to bottlenecks in Shanghai and Qingdao too.“Much of the recent concern for rollover cargo has focused on reefer containers,” said Josh Brazil, chief operations officer of freight-data provider Ocean Insights. “If there are no power outlets at the port for reefers to be plugged in, cargoes of perishable food could be damaged or entirely lost if they cannot be re-routed to another port.”The scenes playing out in Dalian echo the start of the disruptions the world saw when the coronavirus snared global trade flows early last year. Back then, lockdowns in countries including China meant ports were closed and ships couldn’t unload cargoes, causing a dearth of vessels across the world with the ripple effect lasting for months.The TestsIt also highlights the impact China’s controversial testing of foreign food for the virus is having on supply chains. The country has been testing imported meat and seafood for traces of the virus on concern Covid-19 can spread to humans, despite the World Health Organization saying there’s no evidence of people catching the virus from food and food packaging.“China is probably the only country in the world which claims that the coronavirus can be spread through frozen food,” said Ralph Leszczynski, head of research at shipbroker Banchero Costa & Co. “It might well impact container waiting times at ports.”At least four cold-storage vessels have been waiting near Dalian port for as long as two months, nine container ships are docked at the port, and at least six more are waiting in the Yellow Sea to unload, according to Bloomberg data. Reefer containers typically travel together with thousands of normal containers on ships, as long as they have a power source to keep the cargo cold.Liaoning Port Group, which runs the Dalian port, didn’t respond to calls and an email seeking comment. China customs didn’t immediately respond to a fax seeking comment. Officials at the cold-chain subcommittee of China’s Federation of Logistics & Purchasing declined to comment.Chinese port officials have increased coronavirus tests, causing refrigerated shipments to wait as long as 20 days to clear customs at most ports across the country, according to the China Shipowners Association, adding that importers have to foot the bill for electricity and demurrage costs.AP Moller-Maersk A/S, the world’s biggest container shipping line, said it’s stopped taking new reefer bookings for Dalian. French rival CMA CGM SA said will levy surcharges on cargoes headed to Dalian, and diverting reefers where it can. Shipping giant MSC Group also said it’s unable to offload reefers in Dalian, and has told customers their cargoes may be sent to an alternative port and held there -- incurring daily costs -- until they can be forwarded.And it’s not just within China, according to Philip Gray, a reefer analyst at maritime consultant Drewry. Russian vessels filled with seafood that were headed to Dalian and Qingdao have now been re-directed to South Korea’s Busan, raising the risk that its port will also become congested, he said.“Dalian and Qingdao are very big seafood hubs with a thriving import, export and seafood processing industry,” said Gray.The issue is also creating a shorter shelf life for fresh fruit imports such as bananas, which normally arrive in Dalian to supply northern China, said Gray.The impact from the situation in Dalian and other ports is stretching all the way to the U.S., where companies are waiting for empty reefer containers to ship frozen goods out of China and across the Pacific.Steve Kranig, the director of logistics at freight-forwarding firm IM-EX Global Inc. in Wisconsin, U.S., said it took him six weeks before he was able to book a reefer to ship soup-filled dumplings known as xiaolongbao and other frozen foods from Qingdao to the U.S. The shortage of refrigerated containers has been costly -- freight has almost doubled from a few months earlier, and many items in his customers’ inventory have run out.“China continues to be protein hungry and, at the same time the knock-on effect will come to the U.S., where ports are already bursting at the seams struggling to cope with the surge in trade,” Drewry’s Gray said. “U.S. exporters will need to plan very carefully and should expect further rise in supply chain costs.”(Adds details on refrigerated container ships waiting at Dalian in eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Police visited Kellyanne Conway's house on Tuesday a week after her daughter made claims of abuse.
Co2Bitcoin will be available on January 28, 2021 at the www.coinsbit.io exchangeNEW YORK, Jan. 27, 2021 (GLOBE NEWSWIRE) -- A decentralized group of innovators and visionaries, focused on mitigating the causes and potentially cataclysmic effects of climate change, has introduced a new financial instrument. A cryptocurrency, Co2Bitcoin, available to the public on January 28th, 2021, will help Countries to finance local projects to combat global warming’s negative effects on our environment and inhabitants. Co2Bitcoins have already been used to acquire and protect over 100 million trees in the Brazilian Rainforest, saving them from fires by clearing and maintaining the underbrush and using controlled burns, ensuring that they will be preserved, sequestering critical amounts of Co2 and its brimming habitats, for generations to come. Co2Bit (http://www.co2bit.com/news) has already signed partnerships with the Governments of Madagascar, Gambia, Zimbabwe, Kenya, Niger, Sudan, Guinea Bissau, Congo Brazzaville, Mali, Comores, Gambia, Guinee, Gabon, Ivory Coast, the Edo Province of Nigeria, Somalia, and the Democratic Republic of the Congo (DRC), and individually the provinces of Kwango, Maniema, Bas Uele, Kwilu, and Equateur and Lebanon, Center for Energy Conservation. More than 30 countries are expected to be signed before the end of February 2021 and it is the goal of Co2Bitcoins to be partnered with more than one hundred countries by the end of 2021. Liquidity of the currency will be supported organically by the growing investor demand for cryptocurrencies, Decentralized Finance (DeFi), and the rising appetite for Environmental, Social and Corporate Governance (ESG) impact investing. The Co2Bitcoin currency, like any other, depends on its utility, and of course supply and demand, to determine its exchange rate. Co2Bit has many advantages that point to its sustainable impact: - It is the first crypto currency that has the formal support of many nations. The governments will be the main token holders, which give this token a more secure stature. - It has a healthy and comprehensive objective to protect the planet, through the financing of projects aimed at reducing the impacts of global warming in the near term and long term. - It is a very promising message for the public and institutional funds where the Social and Corporate Governance (ESG) vision is becoming more important. - It will make it possible to create a more efficient and liquid voluntary carbon credit option, which will allow large emitters to come and buy Co2Bitcoins, in addition to carbon credits. This will have a stronger impact as they strive to maintain positive brand images. The price of carbon credit certificates has steadily increased over the past 4 years. This market remains a specialist market, exceedingly difficult to access for private investors. As many polluting actors are obliged (legally, or more often by market forces) to offset their carbon footprint. Co2Bitcoin could become a new financial instrument used by companies as a voluntary carbon credit. This Co2Bitcoin asset could, specifically, be mentioned in the environmental annual reports of companies to raise their ESG rating. This will ultimately result in this currency being used more and more, increasing its liquidity and utility. For speculators, this natural demand could have a positive impact on the appreciation of the price of Co2Bitcoin. The Co2Bit cryptocurrency, when injected into climate mitigation project financing, facilitates technological innovations in solar, wind, and hydroelectric power stations, new technologies for making steel and plastics, advancing agricultural yields, and other projects impacting deforestation and reforestation globally. The Co2Bit currency will benefit from strong overlapping trends as significant interest from private and institutional players in cryptocurrencies are multiplying across the entire asset class. On the Ethereum blockchain and in its Smart Contract, one (1) Co2Bitcoin has a value of 1/13th an ETH. Based on a January 25, 2021 price of $1404 USD per ETH, this would result in a price of $108 USD per Co2Bitcoin. In the words of Anatoly Karpov International Statesman & Ten-Time World Chess Champion, "Co2Bitcoin is a real, practical step to try and solve the problem of Global Warming which disturbs the whole world." For additional information go to, Co2Bit.com. Co2B coins will be available January 28th, 2021 on the highly respected, Award Winning Coinsbit Exchange (https://coinsbit.io/) for both individual and institutional investors. This Exchange is centralized and recently launched their Decentralized Exchange (DEX). It is renown for its reliability and convenience for traders of all experience levels. Coinsbit Exchange offers superior security protocols for the safety of each transaction. It includes the world’s first online store for buying goods with cryptocurrency. And, P2P Loans just got easier! Register for free today at https://coinsbit.io/ Media contactCompany: Co2BitcoinContact: Ron Henley, IGMEmail: email@example.comTelephone: +1 (917) 612-7416 (GMT -5)Website: http://co2bit.com/contact/ SOURCE: Co2Bitcoin
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QUEBEC CITY, Jan. 27, 2021 (GLOBE NEWSWIRE) -- LeddarTech®, a global leader in Level 1-5 ADAS and AD sensing technology, announces notable and significant growth in 2020. Despite the pandemic, LeddarTech, a pioneer in automotive sensing technology, boosted growth in investment, units sold, ecosystem partnerships, strategic customer engagements, and acquisitions in 2020. In November of 2020, LeddarTech was recognized by Tracxn in a category of only six Canadian corporations as a Unicorn, defined by Tracxn as one with a valuation exceeding the billion, and even the multi-billion-dollar mark in some cases, representing the elite of the Canada Tech start-up sector. Major 2020 Achievements: Reached over $350 million of investments from industry leaders.Contracted six Tier-1 and OEM customers to develop LiDAR measurement software, sensor fusion, and perception technology to enable ADAS and autonomous driving applications with a lifetime value over US$1.5 billion, supporting a growing opportunity funnel well over US$4.0 billion.Signed strategic partnership agreements with three global automotive Tier-1/2 customers for LiDAR platform development.Delivered over 9,000 low-cost solid-state LiDAR sensors to customers, a double-digit increase over 2019.Announced volume production of the award-winning Leddar™ Pixell with manufacturing partner Faurecia-Clarion Malaysia.Announced the addition of four major global technology companies as collaborative partners for joint delivery of LiDAR solutions to the market within the Leddar™ Ecosystem, including STMicroelectronics, Flex, dSPACE, and Ningbo Sunny Optical. LeddarTech expects to report further additions to the Leddar Ecosystem H1 of 2021.Expanded collaboration with Renesas to accelerate autonomous driving and ADAS development. This platform combines LeddarTech’s industry-leading raw data sensor fusion stack and LiDAR technology with Renesas’ newly launched R-Car V3U, a best-in-class ASIL D system-on-chip (SoC) for ADAS and AD systems.Accelerated automotive sensing solutions through two acquisitions: Phantom Intelligence: This acquisition advanced LeddarTech’s strategy to aggregate and consolidate automotive sensing technologies, enabling the company to offer comprehensive solutions to our customers at lower cost.VayaVision: This acquisition added a vital building block by combining sensor fusion and perception technology with LeddarTech’s proven LeddarEngine™ platform. The LeddarEngine platform built on an open software architecture combined with LeddarVision™ enables LeddarTech to address customers’ need for sensing solutions that are hardware agnostic, scalable, and adaptable to any vehicle and sensor configuration. The acquisitions of VayaVision and Phantom Intelligence, combined with over a decade of expertise in groundbreaking L1-5 ADAS and AD sensing technologies, demonstrate LeddarTech’s commitment to continuous innovation and service to our Tier 1-2, OEM, and autonomous mobility customers. LeddarTech also expanded operations in Israel and augmented the existing engineering team with world-class AI and machine learning engineers. “2020 was the most challenging year in recent history, but meeting challenges is in LeddarTech’s DNA,” stated Mr. Charles Boulanger, CEO of LeddarTech. “We are very proud of the advances we have made as an organization and the faith that our customers and strategic partners have placed in us,” concluded Mr. Boulanger. “Our partners and customers recognize that they can rely upon LeddarTech’s ingrained expertise in sensing solutions that have been achieved through over 10 years of pioneering experience,” said Mr. Frantz Saintellemy, President and COO. About LeddarTech LeddarTech is a leader in environmental sensing platforms for autonomous vehicles and advanced driver assistance systems. Founded in 2007, LeddarTech has evolved to become a comprehensive end-to-end environmental sensing company by enabling customers to solve critical sensing and perception challenges across the entire value chain of the automotive and mobility market segments. With its LeddarVision™ sensor-fusion and perception platform and its cost-effective, scalable, and versatile LiDAR development solution for automotive-grade solid-state LiDARs based on the LeddarEngine™, LeddarTech enables Tier 1-2 automotive system integrators to develop full-stack sensing solutions for autonomy level 1 to 5. These solutions are actively deployed in autonomous shuttle, truck, bus, delivery vehicle, smart city/factory, and robotaxi applications. The company is responsible for several innovations in cutting-edge automotive and mobility remote-sensing applications, with over 95 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities. Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter, Facebook, and YouTube. Contact:Daniel Aitken, Vice-President, Global Marketing, Communications, and Product Management, LeddarTech Inc.Tel.: + 1-418-653-9000 ext. firstname.lastname@example.org Leddar, LeddarTech, LeddarEngine, LeddarVision, LeddarSP, LeddarCore, VAYADrive, VayaVision, and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
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Walmart Inc will add small robot-staffed warehouses to dozens of its stores to help fill orders for pickup and delivery, the company said on Wednesday, as Americans shift their spending online amid the COVID-19 pandemic. The robots will work behind the scenes, picking frozen and refrigerated foods as well as smaller general merchandise items from inside the warehouses, or local fulfillment centers, that will carry "thousands of frequently purchased items." The world's largest retailer, which operates nearly 5,000 stores nationwide, did not say how many stores will have the new centers but said it was "planning dozens of locations, with many more to come."
Here's why investors may want to pay particularly close attention to management's projection for vehicle deliveries this year.
Woman earns $25K from jumping video on TikTok. Credit: JamPress/Australscope
Moises Henriques has enjoyed an immediate impact on his return from Test squad duties as the ladder-leading Sydney Sixers eye another BBL title.
Woman earns $25K from jumping video on TikTok. Credit: JamPress/Australscope
"This whole process can take just a few minutes from the time the order is placed to the time it’s ready for a customer or delivery driver to collect," says Walmart U.S. SVP Tom Ward.
(Bloomberg) -- The two biggest banks in the United Arab Emirates reported a drop in profit last year as they set aside higher provisions to cover an expected spike in bad loans as a result of the coronavirus pandemic.Emirates NBD PJSC, Dubai’s biggest lender, said its full-year profit slumped by more than half and impairment allowances increased by 65% to 7.9 billion dirhams ($2.15 billion), according to a statement Wednesday. Profit dropped to 7 billion dirhams on higher impairment charges and as a gain from the sale of a stake in Network International Holdings Plc in 2019 wasn’t repeated.Its counterpart in the UAE capital, First Abu Dhabi Bank PJSC, is similarly bracing for credit losses amid a shock to earnings from the plunge in oil prices and the coronavirus pandemic.The UAE’s biggest lender posted a profit of 10.6 billion dirhams for 2020, down from 12.5 billion dirhams in same period a year earlier, it said in a statement on Tuesday. Impairment charges soared 22%.Emirates NBD 1H numbers:Profit 6.96 billion dirhams vs 14.5 billion dirhamsExcluding the gain from Network International, profit fell 31%Impairment allowances 7.9 billion dirhams vs 4.8 billion dirhamsTotal income 23.2 billion dirhams vs 22.4 billion dirhamsNet interest income 17.49 billion dirhams vs 16.19 billion dirhamsCost to income ratio 33.8% vs 32.1%Net interest margin 2.65% vs 2.89%For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- The Western world’s largest oil explorers are sailing into earnings season on the tailwind of strong commodity prices after a 2020 they would rather forget.With crude prices and refining margins buoyed by the rollout of Covid-19 vaccines and the prospect of an economic rebound, investors will be watching for signs in Big Oil’s fourth-quarter earnings that higher crude prices will translate into much-needed increased cash flows this year.Some optimism is already priced in. Exxon Mobil Corp. and BP Plc, both of which last year weathered their worst stock-price slumps in decades, are up more than 10% in 2021. Still, the supermajors are largely out of favor: The combined market value of Exxon, Chevron Corp., Royal Dutch Shell Plc, Total SE and BP is now less than that of Tesla Inc.The challenge for executives during conference calls with analysts and investors will be to strike the right balance between paying back debt, funding shareholder payouts and financing growth plans and energy-transition strategies.Here are five things to watch for when they post fourth-quarter earnings, which are scheduled as follows:1. Cash GenerationWhile higher commodity prices clearly benefit oil companies, the supermajors can be something of a black box in translating those gains into cash flows. Trading, production outages, cargo timing, refinery maintenance and fuel stockpiles can have an big impact on results. Investors will be watching for signs that strengthening prices are bolstering cash reserves.The big oil drillers should be “outsized beneficiaries of the continued reopening trade,” Morgan Stanley analysts led by Devin McDermott wrote in a note to clients. But investors still need to see “visible cash flow” before turning bullish in the medium term.The Morgan Stanley analysts believe cash flow is the single top indicator of stock performance for the supermajors as investors have largely given up on rewarding companies for boosting output, expanding underground reserves or timely project construction. The metric has become increasingly important as companies took on more debt.2. Capital AllocationAll the supermajors aggressively cut spending in 2020 and investors will be wary of any moves to flex this year’s outlays higher in response to increasing prices, particularly in U.S. shale fields.“After years of underperformance, for upstream oil & gas, 2021 can best be described as the proof of concept year,” Barclays Plc analysts led by Jeanine Wai wrote in a note. “The oil macro is arguably serving up free cash flow on a silver platter if management teams can just stay disciplined.”Chevron Chief Executive Officer Mike Wirth will likely face questions around his appetite for further takeovers, given the company’s relatively strong balance sheet and recent $5 billion purchase of Noble Energy Inc. Meanwhile, Exxon executives will once again be asked about their ability to maintain the third-largest dividend in the S&P 500 Index.For a look at Bloomberg Intelligence’s ESG data, click hereFor BP and Shell, it will all be about shareholder returns. Both companies slashed dividends last year, drawing the ire of investors counting on generous payouts. Shell sought to woo some of them back during the third quarter with a modest dividend increase and the promise of further hikes as well as share buybacks as debt is reduced.BP also has promised to return surplus cash to shareholders, but with more debt and bigger commitments to low-carbon spending, that is further down on their priority list.The European majors have all promised - to differing levels - to ramp up investments into cleaner energy over the next decades. But oil and natural gas are still their bread and butter, meaning that they will have to juggle money flowing into fossil fuels while also diverting capital into less-profitable renewables and shareholder payouts.3. WritedownsExxon’s fourth-quarter results will be marred by its biggest-ever writedown, which the company has warned may be as large as $20 billion. For its part, Shell warned in December of another multibillion-dollar impairment that will bring the tally for the year to more than $22 billion.Shell expects more charges to come this year related to its global restructuring. The firm will cut as many as 9,000 jobs over two years, and has already announced 1,600 workforce reductions in its home countries of the Netherlands and U.K. Chief Financial Officer Jessica Uhl said in October that severance costs tied to the revamp would likely amount to $1.5 billion to $2 billion.4. Demand OutlookWith their giant networks of refineries, terminals and filling stations, the oil majors have a unique insight into global demand patterns, the key signal for oil markets as the world copes with Covid-19. Executives’ comments on anticipated customer behavior will be closely scrutinized with a view to whether the recent price rally will be fleeting or the beginning of another commodity supercycle.Of particular interest will be the outlook for liquefied natural gas in Asia, which saw a stunning price spike in recent weeks due to weather-driven demand for heating fuel. Though many long-term LNG contracts are benchmarked to the price of oil, the spot market is still an important indicator of demand.5. RestructuringThe crisis of 2020 was so severe that the majors’ quickly resorted to huge layoffs to reduce costs, and now investors will want to see what kind of savings have been reaped. Exxon has already indicated it will beat its target of reducing operating expenses by 15%, and 14,000 job cuts also ought to lead to longer-term gains.In Europe, Shell isn’t the only firm to slim down operations. BP said in June that it would reduce its 70,000-strong workforce by 10,000 to help ease $8 billion in annual “people costs.” BP CEO Bernard Looney has stressed that for the company to transition into cleaner energy it needs to be more nimble, and that has meant dismantling the traditional upstream and downstream divisions, and stripping away entire layers of management.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Don Alexander announces publication of ‘That Rock Don’t Roll’ SANTA ANA, Calif., Jan. 27, 2021 (GLOBE NEWSWIRE) -- Following a cheerleader’s murder, investigative sports reporter Blake Brennon is called to assist on the case, but things get personal with a beautiful deputy sheriff as events take a dangerous turn in “That Rock Don’t Roll” (published by Archway Publishing) by Don Alexander. When he’s asked to help, Blake is happy to as he has always felt protective of cheerleaders and he figures he can get the inside scoop about what happened. As he works alongside Petula, the beautiful deputy sheriff, he begins to wonder if she is interested in him or if she is using him. Rife with danger and death, the case’s conclusion can’t come too soon for Blake. Alexander wants his readers to consider that “there is a lot more to your sports teams than what you see and hear. A lot more.” “That Rock Don’t Roll” is available for purchase online at the Archway link above, at Barnes & Noble and on Amazon at: https://www.amazon.com/That-Rock-Dont-Roll-Alexander/dp/1480894931. “That Rock Don’t Roll” By Don Alexander Hardcover | 5.5 x 8.5 in | 306 pages | ISBN 9781480894938 Softcover | 5.5 x 8.5 in | 306 pages | ISBN 9781480894945 E-Book | 306 pages | ISBN 9781480894921 Available at Amazon and Barnes & Noble About the Author Don Alexander was a sportswriter for 27 years and had his own TV show for eight. He interviewed professional, college, and high school athletes, as well as support personnel, both male and female. He also taught communications at Golden West College for nine years, all while living in Orange County, California. Simon & Schuster, a company with nearly ninety years of publishing experience, has teamed up with Author Solutions, LLC, the worldwide leader in self-publishing, to create Archway Publishing. With unique resources to support books of all kind, Archway Publishing offers a specialized approach to help every author reach his or her desired audience. For more information, visit www.archwaypublishing.com or call 844-669-3957. Attachment 51S+0Gvt8aL._SX302_BO1,204,203,200_ CONTACT: Marketing Services Archway Publishing 844-669-3957 email@example.com
(Bloomberg) -- Europe’s economy is starting to follow the familiar script of lagging its international peers when recovering from a crisis.That was the upshot of the International Monetary Fund’s forecasts on Tuesday, which downgraded the growth outlook for 2021 across Europe and underscored a generally poorer performance compared with China and the U.S.Such diverging fortunes reflect the stringency of lockdowns across the euro zone to contain the coronavirus, as well as a late and stumbling vaccination campaign -- headwinds that threaten to deepen what already looks likely to be a double-dip recession. Political unease over the future leadership of Germany and a crisis in Italy are compounding the gloom.By contrast, China is fulfilling a V-shaped recovery, and the U.S. is strutting more confidently with a new president overseeing an extra stimulus injection and a more aggressive vaccine effort.“We’ve started the year on a softer footing, particularly in Europe, because much of Europe seems to have gone back into recession,” Janet Henry, chief global economist at HSBC Holdings Plc in London, told Bloomberg Television. “China is already back above pre-pandemic levels and, on our projections, the U.S. will be by the end of 2021. For the euro zone, it’ll be the end of 2022.”That divergence was emphasized in the IMF’s forecasts, which showed euro-area gross domestic product rising only 4.2% this year, after falling 7.2% in 2020. The U.S. economy is seen expanding 5.1%, more than recouping last year’s 3.4% contraction.The most immediate cause of Europe’s relative weakness is the need for stricter and longer lockdowns to combat a resurgent coronavirus outbreak, and to contain nastier strains of the disease.As European Central Bank President Christine Lagarde put it last week, a contraction in the fourth quarter will now “travel” into the first three months of the year.“The short-term risk is tilted to the downside,” she added somberly. “Uncertainty is in the air.”What Bloomberg Economics Says...“Under pessimistic assumptions about how long restrictions will last, we now estimate that the euro-area economy will experience a deep contraction in 1Q. That will mark the second technical recession in the region as a result of the pandemic.”--Jamie Rush and David Powell. For full note, click hereSluggish immunization programs also threaten to widen the disparity between Europe and the rest. The European Union’s best performers in that regard, tiny Malta and Denmark, have administered only around 4 shots per 100 people. The U.S. has managed 7 and the U.K. is above 10. The currency bloc is now in a standoff with AstraZeneca Plc over delayed vaccine deliveries.With such shortcomings likely to cement lockdowns even further, the contrast in economic destinies is looking stark, with banks including Barclays Plc pointing to an “Atlantic divide.”“The U.S. outlook is improving, Europe’s is deteriorating” BofA Global Research’s economics team wrote in a report. “Don’t think of both economies’ recovery prospects as equal.”Such a trajectory evokes the frequent impression that Europe has become a natural economic laggard to the rest. That sense has persisted for much of the current century, not least after the region’s sovereign-debt crisis impaired its recovery from the global financial crash a decade ago, while the U.S. and China powered ahead, at least in relative terms.Newfound political disarray is only serving to highlight Europe’s listlessness. Post-Brexit trade curbs with the U.K. are already an irksome reminder of the recent trauma of divorce disfiguring the region.Meanwhile, the succession to Germany’s Angela Merkel is still unresolved, keeping open the question of how the bloc will galvanize itself into fighting crises in the era after she leaves. Even after a candidate to replace her as chancellor is settled, an election in September -- no doubt followed by coalition talks -- will prolong the drift.The sudden resignation of Italian Prime Minister Giuseppe Conte, against a backdrop of burgeoning debt obligations, also shows how turmoil is never far from erupting somewhere in the region. The country has been the focus of the EU’s efforts to forge a joint recovery fund to shore up the integrity of its common currency.Clinging to HopeFor all their potential despair, European policy makers can still cling to hopes that their economies remain sound beneath the surface.Government support programs in the region have tended to be highly targeted toward keeping companies and jobs afloat even when output is shut down, possibly avoiding unnecessary destruction to growth potential.“Economies are being held in an imperfect state of suspended animation, and by and large it keeps underlying economies healthy,” said Kallum Pickering, an economist at Berenberg. “My hunch actually is that there’s a bit less scarring than most people think.”In any case, Europe’s finance chiefs are now resigning themselves to being patient for when vaccination setbacks can be cleared, and the pandemic tamed, so that their economies can finally be unleashed -- even if that happens far later than global rivals.“We have to divide the year 2021 in two parts,” French Finance Minister Bruno Le Maire said in a Bloomberg Television interview. “We have everything that is required to have a very strong, very quick rebound as soon as the pandemic is over.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
New collection of classic and modern poetry captures the human experience and endeavor SCHÖNINGEN, Germany, Jan. 27, 2021 (GLOBE NEWSWIRE) -- With his 2015 debut publication, “Conversations with My Muse,” Gary Bateman showcased his passion for literature through a collection of multi-thematic poetry that reflects mankind’s very soul. This year, as he releases his second book, Bateman invites readers to witness the power of poetry as it translates words into human experience. “Reflections in the Mirror” (published by AuthorHouse UK) is a literary collection of selected poetry spanning the years 2014 to 2019. In this volume, the author presents a very interesting and an eclectic selection of poetry that will bring readers into an intellectual world of interpretative poetry and contemplative thought and reasoning. Each poetic verse carries rich and timeless themes that take on controversial and difficult subjects. A book of both classical and modern poetry forms, “Reflections in the Mirror” is designed to highlight the importance and relevance of poetry in today’s world. It seeks to capture the imagination, emotions and passions of the reader as he or she enters into a reflective state of thought. “Readers who are attracted to and interested in poetry should find this particular book of poetry to be a fascinating read,” Bateman asserts. Visit https://www.authorhouse.com/en-gb/bookstore/bookdetails/763973-reflections-in-the-mirror to purchase a copy. “Reflections in the Mirror” By Gary Bateman Hardcover | 6 x 9in | 618 pages | ISBN 9781665582223 Softcover | 6 x 9in | 618 pages | ISBN 9781665582216 E-Book | 618 pages | ISBN 9781665582209 Available at Amazon and Barnes & Noble About the Author Gary Bateman is a published poet, author, linguist and professional writer. He hails from Wichita, Kansas, in the United States and has already completed two major careers with the U.S. government, as a former U.S. Army intelligence officer, and later as a U.S. Department of Defense Civilian in Germany where he specialized in the field of International Security Cooperation. Bateman holds multiple academic degrees with advanced graduate studies, and originally studied history, political science, and literature as primary fields of interest during his undergraduate college years. As a trained linguist, he has a multilingual proficiency in five languages, including his facility as a native English speaker. Bateman has lived in Europe for many years and presently resides with his family in Germany. AuthorHouse, an Author Solutions, Inc. self-publishing imprint, is a leading provider of book publishing, marketing, and bookselling services for authors around the globe and offers the industry’s only suite of Hollywood book-to-film services. Committed to providing the highest level of customer service, AuthorHouse assigns each author personal publishing and marketing consultants who provide guidance throughout the process. Headquartered in Bloomington, Indiana, AuthorHouse celebrates over 23 years of service to authors. For more information or to publish a book visit authorhouse.co.uk or call 0-800-014-8641. Attachment Cover_l CONTACT: Marketing Services AuthorHouseUK 0-800-014-8641 firstname.lastname@example.org