Capitals winger Tom Wilson threw the hit of the playoffs so far, obliterating Bruins forward Curtis Lazar into his own bench.
Myanmar has been in turmoil since the army ousted Nobel Peace laureate Aung San Suu Kyi's elected government and detained her and officials of her National League for Democracy party. As of Monday, 802 people had been killed in the junta's crackdown on its opponents, according to the activist group the Assistance Association for Political Prisoners. It detailed six additional fatalities including in towns in Chin state and in districts of the main cities of Mandalay and Yangon.
The writers of Paramount+’s iCarly reboot have come forward to defend cast members, including Laci Mosley, from racist attacks on social media. “Hey #iCarly tweeps! I’m seeing a looooot of racist abuse being hurled at one of our stars,” wrote writer/co-producer Franchesca Ramsey, “& I’d love if you’d join me in calling it out it […]
Willson Contreras, Jason Heyward and Javier Báez homered off Jon Lester in his return to Chicago, and the Cubs beat the Washington Nationals 7-3 on Monday. Lester and Kyle Schwarber, two key members of Chicago's 2016 World Series championship team, heard loud cheers all night long in their first game against their former team.
YouKuai Group International ("YouKuai" or the "Company") today announces the completion of its $7.3 million A-round financing, led by TRIREC, a Singapore-based investment firm that focuses on decarbonization-related technologies and businesses globally to support, and an early investor of U.S.-based plant-based meat company Hungry Planet. Co-investors include Thibault Villet, co-founder and former CEO of Mei.com (acquired by Alibaba), as well as several ultra-high net worth individuals from China and Asia. The total funding amount of YouKuai to $8.8 million to date.
Pinch-hitter James McCann broke a scoreless tie with a seventh-inning double, Tomás Nido had three hits and the New York Mets overcame more injuries to beat the Atlanta Braves 3-1 on Monday night. With the bases loaded in the seventh, Mets right fielder Kevin Pillar was hit square in the nose by a 95 mph pitch from Jacob Webb, forcing in a run. Pillar was knocked to the ground, and blood poured from his nose when he lifted his head.
(Bloomberg) -- Japan’s recovery stalled last quarter, with the economy shrinking more than analysts expected, as renewed restrictions to contain the coronavirus hit activity, raising the risk of a double-dip recession if the country cannot bring its virus emergency to a swift end.Gross domestic product shrank an annualized 5.1% from the prior quarter in the three months through March, ending a two-quarter streak of double-digit growth, the Cabinet Office reported Tuesday. Economists had forecast an overall contraction of 4.5%.The worse-than-expected result came as businesses unexpectedly cut investment, consumers pulled back and government outlays fell amid a suspension of a travel-promotion campaign to help the ailing tourism industry.Signs of renewed fragility in the economy heighten the risk that the economy could shrink again this quarter, as Prime Minister Yoshihide Suga’s administration struggles to speed up its vaccine rollout and contain virus cases using a targeted approach that attempts to limit damage to the economy.“If the state of emergency is extended, that will certainly raise the odds of a contraction,” said economist Yoshiki Shinke at Dai-Ichi Life Research Institute. “Consumer spending is the biggest missing piece for the economy and it’s hard to predict because it’s very much dependent on the virus situation.”Suga last week added three more prefectures to the latest state of emergency, a move that puts about half of the economy under restrictions that are slightly tighter than the ones in winter, but still less draconian than Europe’s lockdowns. Restaurants and bars in many big cities are now being asked to refrain from serving alcohol in addition to closing early.Failure to end the restrictions at the end of May, as planned, could also fuel concerns over the staging of the Tokyo Olympics. Cancellation of the Games would deal another blow to the economy and raise the likelihood that Suga will be consigned to a long list of short-lived premiers. The country is set to hold national elections by early fall.What Bloomberg’s Economist Says...“In the details of Japan’s deeper-than-expected GDP contraction in 1Q, there was even more bad news -- a surprise drop in private investment and an unexpectedly steep buildup in inventories. These signal weakness in the manufacturing sector -- a rare growth driver amid the virus emergency -- and add to downside risks to the economy in 2Q.--Yuki Masujima, economistTo read the full report, click here.The first-quarter drop in capital investment signals companies may be more cautious about the outlook than earlier thought, according to preliminary data, which is often revised. In recent days, a chorus of business executives have also started to voice concern over what they see as an unacceptably slow vaccine rollout in one of the world’s richest countries.CEOs Criticize Japan’s Slow Vaccine Push, Saying Growth at RiskStrong exports and industrial production, meanwhile, continue to provide a bedrock of support to the economy, even though a rise in imports caused the trade component of the GDP to go negative in the first quarter.Consumers also didn’t retrench as much as economists feared last quarter, a fact that may signal a reservoir of underlying demand that could help power the recovery ahead.The resilience also suggests that Suga’s targeted approach has indeed enabled the economy to fend off the worst of another emergency.“Once the virus situation starts to be more contained and people’s activity becomes more normalized, pent-up demand is likely to emerge,” economy minister and virus czar Yasutoshi Nishimura said after the GDP report was released. But rising infection numbers across the nation indicate that the government hasn’t got the balance right or hasn’t adjusted its restrictions quickly enough to account for new virus strains as infections rise and the logic of staging an Olympics is called into question.Until earlier this year Japan was seen a relatively successful example of virus control with low infection rates and deaths achieved without full lockdown measures. The positive optics have been changing as the country’s lengthy vaccine approval process and its slow rollout of jabs have left the country well behind the U.S, the U.K. and other countries with more aggressive inoculation programs.‘Where Are the Vaccines?’ Japan Public Asks as EU Doses RevealedIn an Asahi Shimbun newspaper poll published Monday, Suga’s support rate had sunk to 33%, close to the 30% mark that starts to put Japanese premiers in jeopardy.Japan has had far fewer virus deaths than other G-7 economies, but its slow vaccine rollout has limited its tools for fighting the outbreak and getting the economy back into gear. So far, only about 3% of the population has received even a single dose.“The best economic measures is to accelerate vaccination,” said Dai-Ichi’s Shinke. “While many other countries consider loosening restrictions, Japan isn’t there yet.”(Adds comment from economy minister.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Charalambos Anagnostopoulos, 33, posted a photograph of the couple on their wedding day, with both of them grinning and his wife clutching a bouquet of flowers. Twenty year old Caroline Crouch was killed in front of her baby daughter at the couple's home in an Athens suburb last Tuesday.
Oil prices climbed on Tuesday, extending gains from the previous day, as optimism over the reopenings of the U.S. and European economies outweighed fears of slower fuel demand in Asia due to surging COVID-19 cases and a new wave of restrictions. Brent crude oil futures were up 20 cents, or 0.3%, at $69.66 a barrel by 0231 GMT, while West Texas Intermediate (WTI) was up 19 cents, or 0.3%, at $66.46 a barrel. "The market remained in a tight trading range amid the tug-of-war between worries over spreading coronavirus infection cases in Asia and optimism from economic reopenings in Europe and the United States thanks to vaccinations," said Hiroyuki Kikukawa, general manager of research at Nissan Securities.
(Bloomberg) -- The Tokyo Stock Exchange is considering expanding trading hours for cash equities in a move designed to attract retail investors and foreign traders, the Nikkei newspaper reported on Monday, without citing anyone.The bourse, which currently ends trading at 3 p.m. Tokyo time, is considering expanding hours into the afternoon or evening in a change that could be in time for a system renewal in 2024, the report said. An advisory body plans to meet as early as this week and solicit opinions from brokerages and institutional investors, according to the Nikkei.If realized, the move would be the first significant change in trading hours in Tokyo in over a decade. In 2011, the exchange shortened its lunch break by 30 minutes to the current one hour. The Tokyo exchange now trades between 9 a.m. and 3 p.m. local time, with the break between 11:30 a.m. and 12:30 p.m., making the five-hour trading day considerably shorter than many other regional rivals. The bourse is also considering canceling the fixed lunch break, the Nikkei said.A spokesman for Japan Exchange Group Inc., which operates the TSE, said it wasn’t the source of the report.“It’ll be important to have a debate in the securities industry,” Finance Minister Taro Aso said of the report. Longer hours wouldn’t lead to much burden on those offering online services, but “for the many places offering face-to-face services it will impact staffing and opening hours, so it’s not easy to accept.”Online BrokeragesA similar recommendation in 2014 for the exchange to consider an evening session failed to result in changes. The plans were dropped following opposition from traditional brokerages, who said longer hours would increase costs. Some members of an advisory panel at the time also called for a separate afternoon session.But with a growth in online brokerages since that attempt, a proposal could lead to a clash between brokerages offering in-person services and the increasing number of online outlets. One of the goals, according to the report, is to provide opportunities for Japan’s rising number of retail investors, whose ability to trade during work hours is limited. Much will depend on how any changes are actually implemented.“Online brokerages will be in favor, and they’re much bigger than they used to be,” said Hajime Sakai, chief fund manager at Mito Securities Co., who cautioned it took years of preparation to shorten the lunch break. “It’ll take time but it’s going in the direction of expanding hours. That’s the way the times are trending.”Closing PriceA lengthy consultation period is likely before any changes are seriously considered.“If really implemented, this would require a lot of adjustments from both front-end to back,” Takeo Kamai, head of execution services at CLSA Securities Japan Co., said. “We’ll really need to see how much support this idea will get from the street.”With most companies reporting earnings after the close of market, trading on earnings is often done on exchanges overseas, or on proprietary trading systems (PTS) run by securities firms, such as the SBI Holdings-backed Japannext Co.There has been renewed interest in such alternative venues since the TSE’s unprecedented outage last October, which highlighted how centralizing trading in Japan is. In March, Cboe Global Markets Inc. agreed to acquire Chi-X Asia Pacific Holdings Ltd. to expand its reach into Japan and other markets. A growth in rival venues could be a threat to the Tokyo exchange, though recently appointed CEO Hiromi Yamaji has said he welcomed the competition.“Longer trading hours does not increase the amount of money that people have to trade,” said Travis Lundy, an analyst who publishes on Smartkarma. “One of the important functions of a market is its daily settlement mechanism - a closing price. A lot of volume gets traded around that price and a closing auction function is normal. Putting that much later would be seriously inconvenient and serve nobody.”(Updates throughout with comments)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
On Monday, the inaugural MTV Movie & TV Awards: Unscripted honored the best in unscripted television, with RuPaul’s Drag Race and Jersey Shore Family Vacation proving favorites. The former series from VHS took home the statuettes for Best Competition Series, Best Reality Cast and Best Host, while the latter title from Paramount+ won Best Docu-Reality Show. At tonight’s ceremony, […]
"God's timing is what's supposed to be," the former Bachelorette said as she accepted the award for best dating show
Asian shares rose early on Tuesday, shrugging off worries about an increase in regional coronavirus infections and a subdued session on Wall Street, as inflation jitters helped push gold prices to three-month highs. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.13% after a mixed session on Monday. Spot gold traded around $1,871.46 an ounce, near a three-and-a-half month high, after the Empire State Manufacturing Survey, produced by the New York Fed, showed the highest prices paid since the series began in 2001.
May.17 -- China Huarong Asset Management Co. is said to have reached funding agreements with some state-owned banks to help bridge their funding gap. That’s according to people familiar with the matter. Bloomberg’s Rebecca Choong Wilkins reports on “Bloomberg Markets: China Open.”
Don Lemon said goodbye to CNN Tonight on Friday after hosting the show since 2014
Both teams from New York are away from home this week and each one is having a painful road trip. After arriving in Atlanta, the Mets placed outfielder Michael Conforto and second baseman Jeff McNeil on the 10-day injured list Monday with strained hamstrings. Both players were hurt in Sunday’s loss at Tampa Bay.
In the section with the header "First Quarter 2021 Financial Results", the last sentence of the fifth paragraph should read: The above includes $28.8 million in debt retirement, $15.1 million in transaction consideration, and $8.6 million in banker transaction fees (instead of: ...and $8.6 million in transaction fees). Also, in that same section, the third paragraph is corrected to read: Operating expenses in Q1 2021 were $61.9 million, which included $40 million of non-cash expenses, comprised of $25 million of the marketing expenses that were settled in shares for services provided under the Roc Nation Agreement. In addition, stock-based compensation of $6.2 million and depreciation & amortization of $7.9 million. The remaining $21.9 million in cash operating expenses were comprised of general and administrative costs of $9.5 million, salaries and benefits of $7.8 million, and sales and marketing expenses of $4.6 million.
Rapper Clifford “T.I.” Harris is under investigation by the Los Angeles Police Department for allegations of sexual assault, Variety has confirmed. The LAPD would not disclose further details about the probe, including whether T.I’s wife, Tameka “Tiny” Harris, is also under investigation. Representatives for T.I. and Tiny did not immediately respond to Variety‘s request for comment. Since […]
(Bloomberg) -- Brent oil edged toward $70 a barrel with optimism building about the demand outlook in key regions such as the U.S., even as the coronavirus makes a comeback in parts of Asia.Futures in London climbed for a third session, while New York crude rose from the highest settlement in two years. The largest number of passengers passed through U.S. airports since the pandemic began, a sign of the domestic travel revival that’s boosting fuel consumption. The rebound in America along with China and Europe is offsetting concerns around weaker consumption in India.Oil is up almost 35% this year amid optimism fuel demand will increase as the vaccination drive accelerates across major economies and boosts mobility. The devastating resurgence in India and new outbreaks in regions that had largely contained the virus such as Taiwan, however, are a reminder that the recovery is going to be uneven and bumpy.“The market is clearly focused on U.S., Europe and China,” said Jeffrey Halley, a senior market analyst at Oanda Asia Pacific. Brent could climb to $72 a barrel quite quickly once it gets through strong resistance at $70, he added.The prompt timespread for Brent was 30 cents a barrel in backwardation -- a bullish structure were near-dated contracts are more expensive than later-dated ones. That compares with 18 cents a week earlier.Passengers checking in through security at U.S. airports surged to 1.85 million on Sunday, the highest since early March 2020, according to Transportation Security Administration data. The flurry of travelers making their way through terminals has steadily climbed for the past month and is now only about 30% lower than levels the TSA saw at the same time in 2019.A weaker U.S. dollar is also boosting the appeal of commodities such as oil priced in the currency. The Bloomberg dollar spot index was lower for a fourth session.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- The surge in commodities prices is failing to trigger some of the traditional responses in bonds and currencies.Unlike recent commodities rallies in 2008 and 2011, yields on Treasuries and currencies of major exporters like Australia have barely budged. Likewise, the Federal Reserve’s favored measure of inflation expectations has disconnected from moves in raw materials.The biggest buffer: Central bank credibility. Led by the Federal Reserve, policy makers have consistently doubled down on lower-for-longer rates and projections for “transitory” inflation. That’s left investors wary to bet against commitments to keep policy loose for the foreseeable future.“The big change this time around is central bank policy,” said Kerry Craig, global market strategist at JPMorgan Asset Management in Melbourne. Ultra-easy monetary policy is now “weighing down currencies that would have naturally risen a lot more during a cycle where commodity prices are rising.”The Australian and New Zealand dollars -- two major currencies whose fates usually rely heavily on trends in commodities consumed by China’s booming economy -- are indisputable laggards. Each has increased less than 0.3% over the past three months.The Canadian dollar, meanwhile, has surged more than 5% as the central bank signaled it may dial back stimulus. The loonie’s rapid rise could give way to pressure on officials to slow development and curb capital inflows, as is usually the case during commodities booms in Canada.Last week, both the U.S. consumer and producer price index reports surprised to the upside, adding fuel to the global inflation debate on the heels of strong Chinese producer price data. Yet the market reaction was relatively muted after the PPI figures -- with 5-year and 10-year yields easing alongside a weaker greenback.The Fed’s own new “common inflation expectations” gauge, which aggregates a range of such measures, is hovering around 2%, a level that officials want to see overshot for some time.Meanwhile, prices have accelerated for materials as disparate as copper, cotton, rubber and lumber, as well as semiconductors, amid supply disruptions and surging demand.The disparity is a sign of the times amid an evolution -- perhaps revolution -- of central banking. The Fed’s commitment to run the economy hot has rattled markets in part because it means abandoning what has long been a core of their strategy: to act preemptively to curb inflation.In this brave new world, market participants are still grappling with whether to trust that officials will act before price surges get out of control and do more harm than good -- balanced against the full-employment mandate.That message is getting through to traders of the Australian and New Zealand currencies, while for others, hints of monetary policy tightening are giving reason to pile in.“The Bank of Canada and Norges Bank are the only central banks in the developed world to give an unambiguous signal that they’re contemplating withdrawing monetary accommodation,” said Stephen Miller, Sydney-based investment consultant at GSFM, a unit of Canada’s CI Financial Corp. “The RBA has been so aggressively beating the drum on keeping the pedal to the metal that it’s worked in terms of keeping the Aussie lower despite iron ore prices soaring.”A closer look at breakeven rates offers further evidence that investors largely aren’t acting on any inflation worries. The U.S. 10-year breakeven, which has jumped to an eight-year high, isn’t sending a clear runaway-inflation message when viewed against long-term trends.If potential for runaway inflation were the trigger, the spot and forward breakeven curves would be upward-sloping, Cornerstone Macro analysts, led by ex-Fed official Roberto Perli, said in a May 11 report. Yet both are inverted, implying a market bet that inflation is temporary.To be sure, some of the usual correlations have broken down due to other pandemic-related worries. The Philippine peso, which usually moves in inverse with oil prices, is relatively stable given that inflation is damped by weak economic growth. That relationship underscores the central banking mantra these days that growth and employment should remain a greater focus than prices.Looking ahead, persistence in materials prices and further hints of wage gains could start to sway the Fed’s message -- and build momentum for investors to respond.“Recent record highs in metal prices are probably just the beginning,” Howie Lee, an economist at Oversea-Chinese Banking Corp., said in a May 11 report. Chinese demand and green-economy investment should keep iron ore and copper, especially, on the upswing, he said.(Updates currency data in fifth, sixth paragraphs and second chart.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.