These fantasy-inspired outfits and makeup are incredible
These fantasy-inspired outfits and makeup are incredible
Dalton Del Don delivers his game-by-game fantasy football recap for Week 7.
(Bloomberg) -- Holding companies controlled by energy-to-mining tycoon Anil Agarwal face the highest debt repayments in several years just as credit rating firms step up warnings.Vedanta Ltd. holding companies Vedanta Resources Ltd. and Volcan Investments Cyprus Ltd. must repay a combined $1.17 billion next year. That’s the most since 2017, according to data compiled by Bloomberg.The Breakdown:A Vedanta Resources bond principal payment of $670 million due in June. Those notes and others from the company rallied in recent days after Hindustan Zinc Ltd. said it will pay 90 billion rupees ($1.2 billion) in dividends to its shareholders, the biggest of which is Vedanta Ltd.A Volcan Investments Cyprus $500 million syndicated loan that matures in SeptemberInvestors’ focus has been riveted on how Vedanta Resources will deal with its debt after opposition from minority shareholders derailed a delisting of its Indian unit Vedanta Ltd. two weeks ago. The privatization plan had intended to give the parent greater access to profits generated by operating companies and allay concerns about the debt load. Its flop adds to broader strains after the pandemic dragged down demand for commodities.Progress for the company in refinancing debt will be important over the next couple of quarters, S&P Global Ratings analyst Neel Gopalakrishnan said Thursday. Vedanta Resources, which has a B- junk rating at S&P, has sufficient cash from subsidiaries to meet the debt due in the period, but if there are no significant developments “it’s likely that there would be renewed pressure on the rating,” he said.Moody’s Investors Service last week put London-based Vedanta Resources under review for a possible downgrade, citing increased refinancing risk and large funding needs.Debt maturities for the Vedanta group including the parent entity over the next 12 months are around $2 billion, a Vedanta spokesman said, referring to the period from October 2020 to October 2021. “The group operations continue at near capacity even in the generally impacted global supply chains and produces significant free cash flows post capex needs,” he said. The company declined to state the amount of debt maturing in the calendar year 2021.Investors showed more optimism after Tuesday, when Hindustan Zinc, which is 65%-owned by Vedanta Ltd., announced the interim dividend payout. Vedanta Ltd. in turn approved a dividend amounting to 35 billion rupees, according to an exchange filing Saturday.Vedanta Resources’ dollar bonds due next year rallied about 10 cents last week, the most since June, to about 92 cents. Shares in Vedanta Ltd. also surged.But despite the rebound, some of the group’s debt securities are still at strained levels. Vedanta Resources’ notes due in 2022, for example, are at about 77 cents on the dollar even after last week’s rally.Any continued stress would increase difficulties to issue new bonds to refinance the maturing debts, said Vishal Kulkarni, a Hong Kong-based analyst at Nomura International HK Ltd.(Adds link to story on Agarwal seeking $5 Billion for a turnaround fund.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Zane Gonzalez got a rare second chance on Sunday. He did not miss.
(Bloomberg) -- President Xi Jinping opened a meeting in Beijing this week to map out the next phase of economic development, just days before one of the most contentious U.S. elections in history will produce a president resistant to China’s ascent no matter who wins.The country’s 14th five-year plan is expected to center around technological innovation, economic self reliance and a cleaner environment. Communist Party officials will also set goals for the next 15 years as Xi seeks to deliver on his vow for national rejuvenation by gaining the global lead in technology and other strategic industries. The meeting is closed to the press, and key decisions likely won’t be made clear before it wraps up on Thursday. If China’s economy -- which is already recovering swiftly from the coronavirus shock -- can stick to the growth trajectory of recent years, it’ll surpass the U.S. within the next decade. The prospect of ever deeper frictions with the U.S. underpins Xi’s strategy to accelerate plans to shield China from swings in the world economy.“It reflects China’s realist reassessment of the current global climate,” said Fred Hu, the founder of Primavera Capital Ltd., a private-equity fund based in Beijing. “Self reliance is about developing certain domestic capabilities through investments in R&D and innovation, a necessary and prudent response to external uncertainties.”“However, it doesn’t mean China will repudiate its longstanding ‘open door’ policy and turn inward,” said Hu, who previously worked for the International Monetary Fund and led Goldman Sachs Group Inc. in China.Xi and other officials have recently insisted the economy will further open its doors to foreign capital and competition, reflecting concerns about how the world will perceive the upcoming plans. In a speech in Shenzhen this month, Xi vowed to drive technological innovation, but softened that message by making it clear he wants a “new open economic system.”That desire to avoid having the new plans become the latest lightning rod in the nation’s deteriorating relations with the U.S. and other trading rivals may mean the language around them is toned down. A previous strategy dubbed “Made in China 2025” went dark after it inflamed trade hawks in the Trump administration and spurred unease in Europe and other economies at risk of losing out to increased competition.What Bloomberg’s Economists say...“An emphasis on encouraging domestic circulation would not signal that China is closing its doors on the world. We expect the plan to encourage two-way trade and promote services trade.”\--Chang Shu and David Qu. Bloomberg Terminal clients can read the report HERE.There’s already growing support in capitals from Washington to Canberra to restrict China’s access to strategic technologies. President Donald Trump’s aggressive stance toward China now has bipartisan backing and Chinese officials worry Joe Biden may be even more effective by bringing allies together to curb its development.Which is why the new plans “will be much less explicit and not as specific as before, because the Made in China 2025 plan had brought so much trouble for China and helped energize the opposition from the U.S.,” said Chen Zhiwu, director of the Asia Global Institute at the University of Hong Kong. “So, I expect them to focus on general guidelines and stay vague on specifics,” said Chen, who is a former adviser to China’s State Council.Officials have been quick to argue that what’s good for China is good for the world. Foreign ministry spokesman Zhao Lijian cited media reports to reporters on Wednesday that said a third of Mercedes Benz AG’s profits came from China in the third quarter and that China’s box office sales of more than $2 billion surpassed that of North America for the first time this year.This proves that China’s massive market will generate “sustainable impetus for Chinese and world economic growth,” Zhao said.That’s backed up by IMF forecasts. Bloomberg calculations based off the latest estimates show China will be the world’s biggest growth engine in the years ahead.Unlike its peers, China’s economy is the only major one in the world forecast to grow this year after authorities aggressively contained the coronavirus.READ MORE: China’s Economy Plows On as World’s Only Major Growth EngineStill, the number of countries that consider Chinese technology companies as national security threats is growing. Some are banding together to shift import dependency away from China as criticism grows over its domestic policies. Global companies are also assessing their supply chains due to reports of forced labor and China’s treatment of Uighurs in Xinjiang and its policies toward Hong Kong.That resistance from the international community is pushing China to look inward for sources of growth. So far, tariffs and sanctions have done little to change China’s behavior. It maintains an extensive negative list of foreign companies operating in China that it may target, while recent actions aimed at Australian exports show it’s prepared to retaliate when it feels its interests have been threatened.A more coordinated effort that brings together Europe, Japan and other American allies may be harder to resist and could push China onto a more isolated path.That overseas wariness will impact the flow of outbound Chinese investment, said Hu, with the likelihood that state-backed investment into markets such as the U.S., U.K. or Australia is scaled back and ambitions around other projects, such as Xi’s signature Belt and Road Initiative, will be readjusted.Growth TargetFive-year plans, a legacy of China’s command economy, have recently focused on industrial restructuring and maintaining a medium to high rate of growth. State media has reported that China will likely downplay the GDP target in the upcoming plan as it shifts to high-quality growth. While deliberations will be announced after the gathering, the document in its entirely will only be made public at an annual parliamentary session in March.Delivering on self reliance while still benefiting from globalization -- or “dual circulation” as the twin goal is dubbed by Chinese officials -- will be a challenge given that hawkish rhetoric toward China will persist, said Wang Tao, chief China economist at UBS Group AG in Hong Kong.“China is facing a more challenging external environment of development,” she said. “Going forward, China has to be more ambitious on domestic reform and opening. It will probably intensify.”(Updates with Xi kicking off meeting from first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Mohammad Ikram leans over the snooker table, his face at almost touching distance behind the white ball as he assesses his options, then knocks it with his bearded chin. With a twist of the neck this way, or a lighter nudge another, the 32-year-old Ikram has worked out how to pot snooker balls without the use of a cue stick. Ikram remembers watching other children playing on dusty pool tables outside his home when he was a 10-year-old kid.
Chinese leaders will discuss ambitious new measures to tackle climate change on Monday at a government plenum to finalise a new five-year national development plan, after Chinese President Xi Jinping pledged to make the country "carbon neutral" by 2060. Policymakers are under pressure to include radical climate targets in the new 2021-2025 "five-year plan", with the COVID-hit economy weighing on their decisions. Government departments drawing up the document were scheduled to complete the first draft by April, but Xi's announcement to the United Nations that the country will offset all its emissions within 40 years meant they must integrate the new climate goals.
A new coronavirus outbreak at the White House involving Vice President Mike Pence's staff comes as the United States reported a near-record number of new cases on Saturday (October 24). The United States reported 79,852 new infections on Saturday, closeclose to the previous day's record of 84,244 new cases. Hospitalizations are also rising and have hit a two-month high and deaths are also trending upwards, according to a Reuters tally. Late on Saturday a spokesman for Pence said Marc Short, Pence's chief of staff, had tested positive for the new coronavirus. Pence and his wife tested negative earlier in the day and the vice president will not alter his schedule as he campaigns ahead of the Nov. 3 election, the spokesman said. Speaking to reporters in Detroit on Sunday (October 25), Democratic vice presidential nominee Kamala Harris said Pence should adhere to CDC guidelines to avoid contracting and possibly spreading the virus. "I think what we have modeled the right and good behavior, and they should take our lead, you know," Harris said. Earlier in the month, two members of Harris' staff also tested positive for coronavirus.
(Bloomberg) -- Oil extended its slide to a second day on a toxic cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.Futures in New York fell toward $39 a barrel after dropping 1.9% on Friday. The U.S. reported record infections for a second straight day, while Italy approved a partial lockdown and Spain announced a national curfew. Democrats and Republicans accused each other of “moving the goalposts” in interviews on CNN as hopes for a deal before next week’s election appeared to be in tatters.The worsening demand outlook is coinciding with Libya’s push to almost double crude output, which is gaining momentum as rival sides prepare for a new round of talks aimed at ending a nearly decade-long conflict. A force majeure has been lifted on the Ras Lanuf and Es Sider ports, and the country’s state oil company said output would surpass 1 million barrels a day in four weeks.A little more than six months after Covid-19 sent oil prices into a tailspin, a second wave is threatening to take another bite out of energy demand. There are several reasons why a repeat of April’s bloodbath is unlikely, however. Flagging consumption isn’t coinciding with a price war, governments may be less likely to impose major lockdowns and demand in Asia is holding up.See also: It’s Asia to the Rescue Again as Oil Demand Falters Elsewhere“Demand issues tied to resurgent virus cases have taken the market’s attention for the past few weeks,” said Daniel Hynes, a senior commodity strategist at Australia & New Zealand Banking Group Ltd. “The supply side issues have now certainly started to gain a little bit more prominence with Libya suggesting that their supplies will rise significantly over the next couple of months. That presents a new headwind for OPEC.”Brent’s three-month timespread widened to 95 cents a barrel in contango - where prompt prices are cheaper than later-dated ones - from 86 cents on Friday. The change suggests concerns about over-supply have risen slightly.If virus cases keep rising in Europe and the U.S., it’s possible the OPEC+ alliance will push back a planned easing of production cuts from January. Russian President Vladimir Putin last week signaled openness to delaying the taper. The group will decide on whether to stick to the current plan at a meeting scheduled for Nov. 30-Dec. 1.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
While Kogan.com Ltd (ASX:KGN) might not be the most widely known stock at the moment, it led the ASX gainers with a...
A military operation aboard an oil tanker off the Isle of Wight features among the main stories on Monday’s front pages.
Exeter joined Saracens, Wasps and Leicester as double winners after beating Wasps in the Premiership final on Saturday, a week after capturing the European Champions Cup by beating French side Racing 92. "I told them they're a very special bunch of guys," Rowe was quoted as saying by the Daily Mail.
Max Muncy hit a towering home run in the fifth after Clayton Kershaw escaped a jam to protect a one-run lead an inning prior as the Los Angeles Dodgers moved a win away from ending their 32-year championship drought with a 4-2 victory over the Tampa Bay Rays in Game 5 of the World Series on Sunday night at Arlington, Texas. Joc Pederson also homered as the Dodgers rebounded from a disastrous walk-off loss in Game 4 just 24 hours prior. Kershaw (4-1) gave up two runs on five hits over 5 2/3 innings, striking out six and walking two.
Genesis's new G80 hounds the established mid-size luxury sedans but costs thousands less.
The Global Coffee Pod Machine Market will grow by 1,428.20 th units during 2020-2024
Police said all 22 crew members were safe and well.
Footage emerges of Queensland police officer apparently punching protester at refugee rallyPolice reviewing video of incident outside Kangaroo Point hotel in Brisbane housing more than 100 asylum seekers
Clayton Kershaw’s glittering career lacked two of the most satisfying accomplishments: a win deep in the World Series and a championship ring. Now with one more victory, the Dodgers would claim their first title since 1988. Kershaw beat the Tampa Bay Rays for the second time in six days, escaping a fourth-inning jam with a quick reaction throw to cut down Manuel Margot trying for a rare steal of home, and the Dodgers held on for a 4-2 win and a 3-2 Series lead.
Joc Pederson is the guy the Los Angeles Dodgers didn’t need or want — until October. After nearly being traded in February and hitting .190 in the regular season, Pederson is coming up big in the postseason. Pederson crushed a fastball from Rays starter Tyler Glasnow over the left-center field wall leading off the second Sunday night, extending LA's lead to 3-0.
(Bloomberg) -- Kotak Mahindra Bank Ltd., backed by Asia’s richest banker, is exploring a takeover of smaller Indian rival IndusInd Bank Ltd., people with knowledge of the matter said, a move that would create the nation’s eighth-largest financial firm by assets.Uday Kotak, founder and chief executive officer of Kotak Mahindra, is looking at the possibility of an all-stock acquisition, one of the people said, asking not to be identified as the discussions are private. Uday Kotak and the Hinduja family have held initial talks over the proposal in which the founders of IndusInd Bank could retain a stake in the lender after a deal, another person said.Shares of IndusInd jumped as much as 4.1% in early Mumbai trading on Monday, while Kotak Mahindra slipped less than 1%.A deal would cement Kotak Mahindra’s position as one of India’s leading private banks, boosting its assets by about 83%. It would also throw a lifeline to IndusInd, which has seen its market value drop 60% to $6 billion this year after being hit by concerns over worsening asset quality and an erosion of low-cost deposits. Kotak in 2014 acquired the local unit of ING Groep NV for 150 billion rupees ($2 billion) in the largest takeover of a lender in India.Deliberations are at an early stage and talks could fall through, the people said.Kotak Mahindra’s spokesman declined to comment. IndusInd “completely denies the said rumor and considers it malicious, untrue and baseless,” the bank’s external spokesman said in an email, adding the founders “reiterate their full support to IndusInd Bank, now and always.”The U.K.-based Hinduja family began discussions for selling control of the Mumbai-based lender following a dispute between the four brothers over the future of the family’s $11.2 billion fortune, one of the people said.India’s central bank earlier this year pushed back on the Hinduja brothers’ plan to raise stake in IndusInd, people with knowledge of the matter said in June.Kotak Mahindra’s 2.7 trillion rupee market capitalization makes it India’s third-largest lender by value.IndusInd’s shares have fallen 64% in the past year as investors fretted over the founders borrowing money against its shares, worsening asset quality, and erosion of low-cost deposits. The brothers have since repaid the loan backed by shares of the bank.(Adds share prices of Kotak Mahindra and IndusInd in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The big man in Tampa Bay's rotation has struggled with the little things, and the Los Angeles Dodgers have pounced on seemingly every mistake Tyler Glasnow has made. Glasnow allowed four runs in five innings as the Rays fell 4-2 in Game 5 Sunday night, taking his second loss in this World Series. Lanky and strong at 6-foot-8, Glasnow runs his fastball over 100 mph with electric rise and snaps his curveball violently toward the earth — a devastating 1-2 punch that rivals any in the game.