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Foster’s wine in the sights of US private equity businesses

first_img whatsapp KCS-content Monday 20 September 2010 8:57 pm Foster’s wine in the sights of US private equity businesses Show Comments ▼ Tags: NULLcenter_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com PRIVATE equity firms Kohlberg Kravis Roberts and TPG have held early talks about teaming up to bid for the wine unit of Australian brewer Foster’s.The pair are yet to decide whether to proceed either together or separately, according to reports in Australia.In 2007, KKR and TPG united to take Texas-based Energy Future Holdings, formerly TXU, private in the largest leveraged buy out ever. The latest talks come after Foster’s rejected a private equity offer this month worth up to $2.5bn (£1.6bn) for its underperforming wine business, saying the bid was too cheap. Foster’s wants to continue with plans to separate its beer and wine businesses, with top brands including Penfold’s, Beringer and Wolf Blass, after spending around A$7bn (£4.2bn) buying wine assets at the top of the market.The wine business, rebranded as Treasury Wine Estates, is seen as attractive to buyout firms because of depressed earnings at the weak point of the wine-making cycle, and strong brands.TPG had held about 55 per cent of Beringer with some partners when it sold to Foster’s in 2000.Last year KKR bought the South Korean subsidiary of Oriental Brewery from Anheuser-Busch InBev. Meanwhile, SABMiller, one of the world’s largest brewers, was reportedly mulling a $10.9bn acquisition of Carlton and United Breweries (CUB), the beer making arm of Fosters Group Ltd. However, no official offer has been forthcoming. Share whatsapplast_img read more

Virat Kohli vs Ajinkya Rahane- Who’s The Better Test Captain?

first_imgCricketSportSport News YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoFreight & Shipping Quotes | Search AdsResearch & Compare Freight & Shipping QuotesEnjoy Affordable Freight & Shipping Services With These Service ProvidersFreight & Shipping Quotes | Search Ads|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndo Share on Facebook Tweet on Twitter TAGSAjinkya Rahane test captaincy recordvirat kohli test captaincy recordVirat Kohli vs Ajinkya RahaneVote for the Better Test Captain SHARE Facebook Twitter Previous articleSyed Mushtaq Ali T20 Haryana vs Puducherry : Haryana won by 6 wicketsNext articleSyed Mushtaq Ali T20 AND vs DEL Result: – Shikhar Dhawan Delhi thrash Ambati Rayudu AP by 6 wickets Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. By Kunal Dhyani – January 13, 2021 Cricket WI vs SA 2nd Test Day 3 Live: Start delayed due to rain, SA lead by 149 runs – Follow Live Updates Euro 2020 LIVE broadcast in more than 200 countries, check how you can watch Live Streaming of EURO 2020 in your country Football F1 French GP 2021: Max Verstappen pips Lewis Hamilton to win French GP, Perez finishes 3rd by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeGrammarlyImprove Your Spelling With This Helpful Browser ExtensionGrammarlyUndocio.comUnlocking the Success of Digital Transformation with Active Intelligencecio.comUndoMicrosoftBring your desktop to life with Bing WallpaperMicrosoftUndoRahane exhibited those qualities in Dharamshala in 2017, when India defeated Australia in the final Test with the series on the line, and again during the Melbourne Test.They both have different approaches towards captaincy, on-field decision making and demeanour is totally different. While Kohli wears his heart on his sleeve, Rahane is unflappable. Kohli brings aggression and an in-your-face attitude on the field while Rahane is phlegmatic. Kohli’s intensity is quite apparent. Rahane is quietly determined. Virat Kohli vs Ajinkya Rahane- Who’s The Better Test Captain? WTC Final Day 3 LIVE Score: Latham, Conway provide solid start- Tea Break; NZ 36/0 (21 ovs)- Follow Live Updates Cricket Euro 2020, Italy vs Wales: 3 key battles to watch out for in ITA vs WAL BCCI to form committee to take call on compensating domestic cricketers Virat Kohli vs Ajinkya Rahane- Who’s The Better Test Captain? vote for your favourite Test Captain,While Virat Kohli is undoubtedly the supreme leader of the Indian team, stand-in skipper Ajinkya Rahane has created and established his own benchmark.Virat Kohli has won 14 Test series out of the 18 he has captained in for the country while Rahane has shown in his short captaincy career at the international level that he is an astute leader and an instinctive captain.Virat Kohli vs Ajinkya Rahane- Who’s The Better Test Captain?A- KohliB- RahaneVoteBack to vote Cricket Euro 2020, Italy vs Wales LIVE: Gareth Bale and Co face do-or-die clash; Italy eye third consecutive win; Follow Live Updates, ATP Tour Queens Club Final: Matteo Berrettini beats Cameron Norrie in final to win title RELATED ARTICLESMORE FROM AUTHOR Formula 1 Football Euro 2020, Switzerland vs Turkey: Top 5 players to watch out for in SUI vs TUR Football Football Euro 2020, Switzerland vs Turkey LIVE: Switzerland to punish hapless Turkey; Follow Live Updates Football last_img read more

The Bitcoin price tumbles! FCA crypto warning shows why I’m better off buying UK shares

first_img Image source: Getty Images Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. It’s been a wild couple of months for the Bitcoin price. It culminated in the digital currency charging to record highs just shy of $42,000 on Friday. Price action at the start of the week has been much less encouraging for Bitcoin investors though.The threat of a bursting bubble is always there when an asset class rockets over a short timespan. And Bitcoin, which has doubled in value in just over three weeks, has yet again collapsed from record levels like it did in 2017. It’s now dealing 14% lower from the end of last week at around $33,100.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…The FCA wades into BitcoinI’ve remained happy to sit on the sidelines rather than take a gamble with Bitcoin. The fear of a price collapse soon after I theoretically bought in is one fear I have. Concerns over the legitimacy of cryptocurrencies as bona-fide assets is another.Incidentally, a Financial Conduct Authority (FCA) paper released today lays out the colossal risks of buying Bitcoin. In rather stark terms the regulator states that “if consumers invest in these types of product, they should be prepared to lose all their money.”In particular, the FCA lays out five concerns over Bitcoin investment relating to:Consumer protection, as some cryptocurrency investments might not be subject to regulation beyond anti-money laundering rules.Price volatility which places investors “at a high risk of losses.” The risk is worsened by “the inherent difficulties of valuing cryptoassets reliably,” the body says.Product complexity, as product complexity can make it difficult for consumers to understand the risks.Charges and fees, which may be higher for Bitcoin investments than for regulated products.Marketing materials which may “overstate the returns of products or understate the risks involved.”I’m happier investing in UK shares!That’s quite a list for investors to get their heads around. And it’s one which underlines why buying UK shares is a better way for Britons to invest their hard-earned cash. I, for one, never came across severe FCA warnings like these when choosing which Stocks and Shares ISA to invest in!The 2020 stock market crash shows again that UK shares aren’t immune to periods of intense volatility. However, significant selling pressure like we saw last year happen because of significant economic events which threaten to shave a great deal off corporate earnings. There’s a clear reason why UK shares drop so significantly. Bitcoin, as we’ve just seen, can crash at the drop of a hat.Besides, history shows us time and again that UK share prices always come roaring back after stock market crashes. This is because corporate profits inevitably rebound as the economic cycle recovers.By comparison, there’s no guarantee that Bitcoin prices will ever recover to their recent highs because the cryptocurrency has no inherent value. Simply put, it remains just an idea. There’s no tangible reason why investors will be attracted back in en masse.UK shares give you and I a slice of something, i.e. a portion of those corporate earnings. And long-term investors like me tend to make a tasty average yearly return of 8-10%. So why take a chance with something as dangerous as Bitcoin? “This Stock Could Be Like Buying Amazon in 1997” Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.center_img Simply click below to discover how you can take advantage of this. The Bitcoin price tumbles! FCA crypto warning shows why I’m better off buying UK shares Royston Wild | Monday, 11th January, 2021 I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Our 6 ‘Best Buys Now’ Shares See all posts by Royston Wildlast_img read more

Stock market rally: 5 UK shares I think could help me to make a million

first_img Image source: Getty Images Our 6 ‘Best Buys Now’ Shares Peter Stephens | Sunday, 17th January, 2021 I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Simply click below to discover how you can take advantage of this. Enter Your Email Addresscenter_img Peter Stephens owns shares of Barratt Developments, HSBC Holdings, Persimmon, Royal Dutch Shell B, and Whitbread. The Motley Fool UK has recommended HSBC Holdings. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! See all posts by Peter Stephens A long-term stock market rally is likely to be based on an improving economic outlook. As such, UK shares that have experienced challenging periods in the past year and recorded price declines because of a weak economic performance could be among those to benefit the most from a recovery.With that in mind, here are five FTSE 100 shares that have struggled to deliver improving financial performances in the last year due to tough operating conditions. Buying them now could lead to high returns for me in a market rally, and could even produce a portfolio valued in excess of a million.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…UK shares with turnaround prospectsAmong UK shares negatively impacted by a weaker economic outlook are housebuilders Persimmon and Barratt. Although they’ve recently reported resilient levels of demand from homebuyers, their share prices are still down over the last year.In the short run, they could experience challenges from an end to the stamp duty holiday and economic weakness as the current lockdown takes its toll on consumers. However, their long-term share price performance could be catalysed by a likely continuation of the current loose monetary policy. They also have large land banks that may provide them with dominant market positions for many years.Whitbread has also experienced difficulties during the pandemic. The closure of its hotels continues to negatively impact on its performance versus other UK shares. However, its recent update highlighted market share gains, as its large size and financial position aid it versus smaller peers. It also has growth opportunities in Germany, which could diversify its revenue and provide a stimulus as a stock market rally takes hold.International growth opportunitiesOther buying opportunities among UK shares include internationally-focused businesses such as Shell and HSBC. They appear to be in good positions to capitalise on a return to improved global economic growth.HSBC has exposure to fast-growing economies in Asia. It’s also reducing costs and pivoting towards opportunities less reliant on interest rate levels. This could stimulate its financial performance.Meanwhile, Shell is aiming to shift its asset base towards renewables. This may improve its long-term profit potential, as the world economy gradually moves to lower-carbon assets for its energy. The company may also benefit from a rising oil and gas price in the meantime.Making a millionMaking a million with UK shares may be a more achievable goal than many investors realise. For example, the FTSE 100 has produced an annualised total return of 8% since inception in 1984. Assuming the same rate of return on a £750 monthly investment would produce a £1m portfolio within 29 years.However, through buying shares with long-term recovery potential, it may be possible to achieve higher returns. In doing so, the time it takes to make a million could be reduced. Stock market rally: 5 UK shares I think could help me to make a million “This Stock Could Be Like Buying Amazon in 1997”last_img read more

Native & environmental activists take on GE & Big Oil

first_imgEquipment at oil sands mine in Alberta, Canada.The tar sands of Alberta, Canada, are the dirtiest, most polluting oil source in North America and require very specialized, massive evaporators to extract the oil they contain.For months, a coalition of Native and environmental activists has been fighting the transportation of this equipment through Indigenous lands in the Northwest.General Electric makes these huge evaporators, used to reclaim water from tar sand processing at its plant near Portland, Ore. Each one is 96 feet long and weighs up to 644,000 pounds. The convoy that transports them is 380 feet long, 19 feet high, 23 feet wide and weighs around a million pounds. It takes up two traffic lanes.The first route GE tried to use went through Nez Perce (Niimíipu) tribal lands on Highway 12 and was stopped cold by a blockade led by Nez Perce elders, with the support of environmental activists armed with an injunction.So GE’s hauling company, Omega Morgan, chose another route from the port of Umatilla, Ore., to Homedale, Idaho, along a series of winding mountain roads.Omega Morgan’s attempt to move the first mega load Dec. 2 met quick resistance from the Confederated Tribes of Umatilla, supported by local environmental activists. The protesters — or “protectors” according to the Native activists — locked themselves to the loads, stalled cars in front of them and generally slowed the convoy down.The first load hit bad weather and lacked permits to move through Montana. The second began moving on Dec. 22 and is nearly in Idaho. The third is still waiting in Umatilla.In a Dec. 9 letter to Oregon Gov. John Kitzhaber, the board of trustees of the Confederated Tribes of Umatilla challenged the permits issued for transportation of the mega loads. They cited lack of consultation with the tribe by the Oregon Department of Transportation. Board chair Gary Burke noted that “tar sands mining has had negative impacts on Indigenous peoples in Canada, causes significant environmental damage, and is a contributor to global climate change.” (yesmagazine.org, Jan. 8)Linda Sampson, a member of the Walla Walla tribe, added, “In the global picture we all have to breathe the same air, we all have to drink the same water. And as the destruction continues it’s going to affect us.”FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

China builds new type of globalization

first_imgImperialism is worried that China’s huge global infrastructure projects could challenge the U.S.-led world orderThe People’s Republic of China hosted a summit May 14 called the “One Belt, One Road” initiative, also known as the New Silk Road project. Twenty-nine heads of state and representatives of 130 countries attended from across Asia, Africa, Latin America and Europe. Seventy countries signed agreements with China to participate.The “Belt” refers to the Silk Road Economic Belt. It encompasses land route development from central China to Central Asia, Iran, Turkey and Eastern Europe. The “Road” refers to the Maritime Silk Road. This involves ports and coastal infrastructure from Southeast Asia to East Africa and the Mediterranean.The plan projects a network of trade routes with new rail lines, ports, highways, pipelines, telecommunications facilities and energy centers linking countries on four continents. It includes financing to promote urban planning, potable water, sanitation and food development. China is calling it the “plan of the century.”China describes the project as a revival of the ancient Silk Road with 21st-century technology. It is projected to be 12 times the size of the U.S. Marshall Plan, which rebuilt Western Europe after World War II.Major corporate media around the world warn that the gathering signals the end of the American Century — the U.S. claim to be the world’s sole superpower. Numerous analysts suggest the project could shift the center of the global economy and challenge the U.S.-led world order.Former U.S. Assistant Secretary of Defense Charles Freeman described the OBOR project as “potentially the most transformative engineering effort in human history. China will become the center of economic gravity as it becomes the world’s largest economy. The ‘Belt and Road’ program includes no military component, but it clearly has the potential to upend the world’s geopolitics as well as its economics.” (NBC News, May 12)In a May 13 article, “Behind China’s $1 Trillion Plan to Shake Up the Economic Order,” the New York Times predicted: “The initiative … looms on a scope and scale with little precedent in modern history, promising more than $1 trillion in infrastructure and spanning more than 60 countries. Mr. Xi is aiming to use China’s wealth and industrial know-how to create a new kind of globalization that will dispense with the rules of the aging Western-dominated institutions. The goal is to refashion the global economic order, drawing countries and companies more tightly into China’s orbit. It is impossible for any foreign leader, multinational executive or international banker to ignore China’s push to remake global trade. American influence in the region is seen to be waning.”U.S. infrastructure is collapsingMeanwhile, the U.S. infrastructure is literally falling apart. Crumbling roads, bridges, dams and schools have been given an overall D+ grade by the American Society of Civil Engineers. Investment in infrastructure, including schools, hospitals and wastewater treatment plants, is at a 30-year low.Donald Trump, with his “America First” campaign slogan, pledged to rebuild the country’s broken infrastructure. But since becoming president, his administration has instead opted for cutting taxes on the rich while increasing the military budget. Meanwhile, the U.S.-initiated Trans-Pacific Partnership Agreement, which was designed to exclude China, has collapsed.China’s OBOR project has generated enormous interest because U.S. imperialism has less and less to offer any developing country, except weapons sales and military bases. Weapons quickly become obsolete, leaving only debt and underdevelopment.Where U.S. infrastructure projects are in place around the world, they are focused on building and maintaining a vast high-tech network of 800+ military bases and servicing an armada of aircraft carriers, nuclear submarines and destroyers. Each base is an expense to and an attack on the sovereignty of the host country. U.S. foreign aid ranks near the bottom of such expenditures of all developed countries, amounting to less than 1 percent of the federal budget. It is largely military aid to Afghanistan, Iraq, Israel, Egypt and Pakistan.U.S. wars have resulted in great profit for U.S. corporations while massively destroying vital civilian infrastructure in developing countries under attack. Water purification plants, sanitation, sewage, irrigation, electric grid, communication centers, hospitals and schools have been intentionally destroyed in Yugoslavia, Iraq, Libya, Syria and Afghanistan. By contrast, China has no foreign military bases. Its ambitious OBOR initiative does not include military equipment or facilities.Nevertheless, U.S. corporate power sees all other economic development as a threat to its global domination. Its aim is to protect at all costs the irrational capitalist system.Response to U.S. pivot to AsiaThe pivot to Asia begun during the Obama administration is an aggressive military plan that includes the U.S. nuclear arsenal and the Pentagon’s new THAAD missile battery in South Korea. Its focus is containing and threatening China’s growing economic influence in the region.U.S. military planners brag of their ability to strangle China and cut its vital shipping lanes, such as the Straits of Malacca. This narrow transit point between the Indian Ocean and the South China Sea handles 80 percent of China’s crude oil and other vital imports.China, now the world’s largest trading nation, has responded with the nonmilitary OBOR plan that will open many trade routes through surrounding countries. Trade routes, unlike U.S. military bases, offer immediate benefit to the development of these countries. China is expected to invest up to $1.3 trillion in OBOR infrastructure projects.Asian Infrastructure Investment Bank: Challenge to IMF and World BankPast U.S. practices of seizing the assets of countries holding substantial funds in U.S. banks meant that the $1.26 trillion that China has held in U.S. Treasury notes was especially vulnerable. Until six months ago, China was the number one investor in U.S. Treasury notes. Now China is divesting.China has used a part of its significant reserves to establish the Asian Infrastructure Investment Bank. The AIIB plays an essential role in encouraging trade and economic cooperation with other countries in Asia, Africa, Europe and Latin America. This Chinese initiative is seen as a counter to the U.S.-dominated World Bank and International Monetary Fund.As the Cuban news outlet Granma wrote on March 6: “AIIB aims to rescue those areas of the region somewhat abandoned by both the World Bank and the Asian Investment Bank (AIB), as well as encourage trade and economic cooperation.”Both the IMF and the World Bank exert enormous leverage through “structural adjustment” policies. Debt repayment requires countries to cut spending on education, health, food and transportation subsidies. Their real goal is to force developing countries to privatize their national assets.Phony concern for environmentCorporate-funded nongovernmental organizations and social media campaigns claim that China will not show the same respect for the environment and human rights as the U.S. and other imperialist powers do. They claim that China might not follow environmental restrictions on loans imposed by the World Bank and IMF.This is sheer hypocrisy. The U.S. military machine is the world’s biggest institutional consumer of petroleum products and worst polluter of greenhouse gas emissions and many toxic pollutants. Yet the Pentagon has a blanket exemption in all international climate agreements.U.S. wars have contaminated the soil and water of vast regions under U.S. occupation with depleted uranium, benzene and trichloroethylene at air base operations and with perchlorate, a toxic ingredient in rocket propellant.Despite U.S. pressure, AIIB growsDespite strong U.S. efforts to discourage international participation in the OBOR infrastructure fund, Russia, Iran and Latin American countries promptly joined and contributed substantial capital. Breaking ranks, Germany and South Korea then became major shareholders, followed by Britain, France, Italy, Spain and Australia. The Philippines and even Saudi Arabia saw the advantages of participation. The AIIB, founded on June 29, 2015, began operations last year.According to a Times editorial of Dec. 5, 2015, “Countries are finding they must increasingly operate in China’s orbit. The United States worries that China will use the bank to set the global economic agenda on its own terms.”In addition to the AIIB, the China Development Bank and the Export-Import Bank of China already finance big-ticket projects in Asia and Africa. By Chinese estimates, their combined overseas assets stand at $500 billion — more than the combined capital of the World Bank and the Asian Development Bank.Socialist planning to overcome underdevelopmentChina’s past decades of development and modernization and its current surpluses are what make these new global plans possible. China has an estimated $4 trillion in foreign currency reserves. Its granaries are full and there are surpluses in cement and steel.In 1949, when the revolution led by the Chinese Communist Party took power, China was an underdeveloped, war-torn country with a largely illiterate, majority peasant population. Western and Japanese imperialist powers had looted and carved up China for their own profits. Breaking their hold was the first step in liberation, but China was deeply impoverished.After nearly 30 years of heroic efforts to modernize the economy based on the organization and efforts of the masses, the Chinese Communist Party in 1978 opened the country up to some forms of capitalist ownership and foreign capitalist investment.This still risky policy has continued for nearly 40 years. It has allowed Chinese millionaires and even billionaires to develop and spread corruption. Foreign capital, ever hopeful of totally overturning the Chinese state, invested because profits could be made. But the Communist Party has used the years of capitalist investment to build up a modern, state-owned infrastructure alongside the growth of private capital.Now China ranks as a developing country with a majority urban population living in modern, planned cities. The working class is now the largest social class in China. Wages for shop-floor workers in China have tripled in the last decade to become the highest in developing Asia.China adopted a new industrial policy in 2015: “Made in China 2025,” which intends to upgrade manufacturing capabilities for high-tech products. These plans are supported by $150 billion in public or state-linked funds. It is this kind of long-term socialist planning that is the motor behind China’s new One Belt, One Road plan.While the U.S. attempts to block these needed infrastructure efforts, move missiles and aircraft carriers off China’s coast, and send the lowest possible diplomatic delegation to China for the OBOR summit, Washington had the audacity and arrogance to warn China against north Korean participation. The DPRK sent a high-level delegation.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

No. 4 TCU shuts down Kansas, 43-0

first_img Previous articleStudents celebrate Diwali with Mela carnivalNext articleVisitors ogle art at ArtsGoggle Garrett Podell RELATED ARTICLESMORE FROM AUTHOR + posts Linkedin Boschini: ‘None of the talk matters because Jamie Dixon is staying’ TCU places second in the National Student Advertising Competition, the highest in school history printThe Horned Frogs showed the country that they didn’t need a game-winning field goal this year, limiting the Kansas Jayhawks to 21 yards of total offense, the fewest allowed by an FBS defense this season, and the Kenny Hill-led offense attack moved up and down the field at Amon G. Carter Stadium with ease Saturday night in 43-0 blowout victory.“We didn’t play a close ball game like we had with Kansas, and always when you play a night game in the Carter you’re going to have a little bit more energy,” TCU head coach Gary Patterson said. Since beginning Big 12 play in 2012, TCU had won all five meetings with Kansas, but each game was decided by 14 points or less with a combined margin victory of 35 points over the five years.The 43 points were the most TCU has scored in the Kansas series, and the margin of victory alone was greater than those 35 points that had decided the previous five TCU wins.With 12:49 to play and severe weather about to hit the area, both teams agreed to play the remainder of the game with a running clock.“It was nice to run clock and get over it so we wouldn’t have to be here until one in the morning,” Patterson said. TCU took care of business in all three phases: offense, defense, and special teams.Offensively, Kenny Hill put together arguably his most complete performance in his time at TCU, as his five touchdown passes equaled a career-high set last season against Oklahoma and tied for second-most in a game in TCU history. Hill finished the night with 278 yards passing on 19-of-26 passing.“That’s just the hard work, that’s the Kenny that we always knew, and last year he just had to get back into that rhythm, which is a testament to the hard work we put in this offseason, throwing at night, coming in before workouts, throwing after workouts,” TCU wide receiver John Diarse said. The Horned Frog signal-caller connected on scoring passes to wide receiver Jalen Reagor in the second and third quarters, to Desmon White on the first possession of the game, John Diarse in the second quarter and Taj Williams in the third quarter for his first catch of the season, making him the 19th player with a catch for the Horned Frog this year and 11th with a touchdown reception.TCU wide receiver John Diarse also had one of his best games as a Horned Frog totaling 130 yards, including a 67-yard touchdown, extending his team-best streak to 21 consecutive games with a catch, which includes his final game at LSU in 2015. The senior wideout put together the first 100-yard receiving game by a Horned Frog this season and his second career 100-yard effort. He had 139 yards last season versus SMU.TCU quarterback Kenny Hill and TCU wide receiver John Diarse celebrate their 67-yard touchdown connection against Kansas. Photo courtesy of GoFrogs.comDefensively, TCU limited Kansas to just 21 yards, the fewest ever in a Big 12 game, leaving former TCU offensive coordinator and current Kansas offensive coordinator Doug Meacham off the scoreboard. “Bottom line to it is knowledge goes both ways, and people had played a three-man rush against them in the past and I felt like one of our strengths was going to be our defensive line,” Patterson said. “We knew we were going to have to change up coverages because they knew a lot about us.”Kansas had four yards on 42 plays before its last drive of the game, and they ended up with 21 yards on 49 plays. TCU’s four sacks amounted to 24 yards in losses, which means Kansas rushed for 1 yard on 27 carries.The Jayhawks finished the third quarter with negative yardage and just three first downs, one on its opening possession and the others by penalty. At one point, the Jayhawks went three-and-out on eight straight possessions.“You’re just speechless, especially tonight because they gave up negative yards going into that last drive of the fourth quarter,” TCU quarterback Kenny Hill said. “I mean that’s unbelievable; I have never seen that in my life, so to have a defense that is playing that way, playing confident that’s big time, and it gives us energy on offense because we want to go out there and do the same thing for them.”Special teams were TCU’s weakest link, but barely. KaVontae Turpin lived up to his dangerous reputation, as he zigged and zagged through the Kansas punt coverage, running almost into his own end zone, but he eventually found some daylight and took the punt 90 yards to the house with 6:45 left in third quarter.“Every time he [Turpin] touches the ball I think he’s going to score, and whenever we give it to him, I sit back and watch because I know something amazing is about to happen,” Hill said. “He backs it up with that punt return for a touchdown, and it’s unbelievable because I have never seen anything like that. I thought he was tackled at the four.” Linkedin Garrett Podellhttps://www.tcu360.com/author/garrett-podell/ Listen: The Podell and Pickell Show with L.J. Collier Boschini talks: construction, parking, tuition, enrollment, DEI, a student trustee Men’s basketball scores season-low in NIT semifinals loss to Texas Facebook Garrett Podell Garrett Podellhttps://www.tcu360.com/author/garrett-podell/ ReddIt Garrett is a Journalism and Sports Broadcasting double major. He is the Managing Editor for TCU360, and his passions are God, family, friends, sports, and great food. TCU quarterback Kenny Hill breaks away from the Kansas defense in the Horned Frogs’ 43-0 victory Saturday night. Photo courtesy of GoFrogs.com Garrett Podellhttps://www.tcu360.com/author/garrett-podell/ Twitter Facebook ReddIt Garrett Podellhttps://www.tcu360.com/author/garrett-podell/ Up NextThe Horned Frogs have a five-game stretch to finish the regular season that picks up with a visit to Ames, Iowa and a matchup against a surging Iowa State, who improved to 5-2 after its decisive 31-13 beatdown of Texas Tech in Lubbock.“We have a tough ball game next week, even if they weren’t 5-2 it’d be a tough ball game,” Patterson said. World Oceans Day shines spotlight on marine plastic pollution Twitter TCU kicks off its Oct. 28 matchup against Iowa State in Ames at 2:30 p.m. The College of Science and Engineering Dean, Phil Hartman, retires after 40 consecutive yearslast_img read more

Police release photos of former Bush cardiologist and suspect moments before fatal shooting

first_imgHouston Police Department(HOUSTON) — Police have released images from the moment right before a onetime doctor for former President George H.W. Bush was gunned down as he rode his bicycle in Houston.Cardiologist Mark Hausknecht, 65, was shot and killed as he rode his bike Friday, according to Houston Methodist Hospital. In a statement, his wife Dr. Georgia Hsieh called her husband’s death “devastating.”In still photos released Sunday, police used the color green to indicate Hausknecht and red for the suspect.“The Dr. is headed north at 6700 Main & crossing into the W Holcombe Blvd intersect,” police said.Houston Police Department “[In the] 2nd & 3rd photos are suspect behind the Dr. The shooting happened moments later, one block away,” the police said in a post on Twitter.Houston Police Department Houston Police Department “This 4th (and last) photo is moments after the shooting as the suspect heads west on Southgate Blvd toward Travis St. These are the only images available for release at this time,” police said.Houston Police Department Former president George H.W. Bush released a statement about Hausknecht’s death through his spokesman.“Mark was a fantastic cardiologist and a good man,” Bush said in his statement. “I will always be grateful for his exceptional, compassionate care. His family is in our hearts.”Houston police also released a composite sketch of the suspect on Saturday.Police said they are searching for a white or Hispanic male suspect about 30 years old who was wearing a dark jacket and fled the scene.The suspect was riding a bike when he rode past the doctor and, “turned and fired two shots,” police said at a news conference Friday.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

Police body camera footage shows fatal shooting of Black man in Honolulu

first_imgCourtesey of the Myeni Family(HONOLULU) — Honolulu police have released body camera footage showing when officers deployed a stun gun on a Black man and fatally shot him while responding to a call about an alleged burglary.Lindani Myeni, 29, a married father of two originally from South Africa, was killed by police outside a Nuuanu home on Wednesday.Police released two body camera videos Friday. A third officer’s camera had not been activated. The footage, though dark and shaky, shows officers struggle with the suspect, use a Taser on him and shoot him three times, all in less than a minute.Myeni had entered a home, sat down and taken off his shoes, prompting the scared occupants to call 911, Honolulu Police Department Chief Susan Ballard said Thursday.Ballard said during a news conference on Friday that a 911 caller said a man sitting in a vehicle was the person who had been in her home. When the first officer arrived at the scene around 8:10 p.m., a distraught woman is heard outside the house telling the officer, “That’s him.” Myeni is seen in the footage getting out of a car and walking toward the officer. Another officer is heard in body camera footage ordering the man to “get on the ground,” but Myeni did not appear to comply.Instead of getting on the ground, Myeni turned and charged at the first officer who arrived on the scene and punched him several times, Ballard said. The second officer tried to get the suspect off his peer, while a third officer arrived at the scene and deployed his Taser on the target, but it was ineffective, Ballard said. The suspect then charged towards the officer who used the Taser, the chief added.The first officer on the scene then fired a single round, but it’s not clear if it hit anyone.“Officer two then fired three rounds at the suspect, and the suspect then fell to the ground,” Ballard said. “This all happened in less than one minute” from the first officer arriving.The suspect was transported to a hospital in critical condition and later died.Myeni had no criminal record and no weapons on him, police said. The Honolulu Medical Examiner’s Officer identified Myeni and ruled his death a homicide.His wife, Lindsay, opened up on her heartbreak and denounced the shooting, telling ABC Honolulu affiliate KITV: “He was gentle and loving, and the best father and husband I could’ve asked for. There’s no reason this should have happened. I’m white and I guarantee he would not have been shot had he been white. This is ridiculous.”“Obviously, he wouldn’t burglarize. … We have money. We have everything we need. We’re not looking for anything,” she said to Hawaii News Now. “He wanted to talk to them for some reason. It says he took off his shoes. I’m sure he did that as a sign of respect.”She said he is from the Zulu Kingdom, a nation in South Africa, and believes his actions may have been misinterpreted.“In Zulu culture you can go to anyone’s house. You can knock on anyone’s door. It doesn’t matter if its 9 o’clock — it’s not a big deal. Neighbors are neighbors,” she said. Myeni and his wife moved to the island in January after living in South Africa for three years.An attorney representing the Myeni family didn’t immediately respond to a request for comment from ABC News.At a news conference to release the video, acting Deputy Chief Allan Nagata said the officers “fought for their lives.”The first officer on scene, a 23-year veteran, suffered multiple facial fractures, a concussion and injuries to his arms and legs. He remains hospitalized. The second officer suffered multiple body, arm and leg injuries, while the third had a concussion and multiple abrasions. Those officers, on the force for 18 years and 10 years respectively, were discharged from the hospital.Nagata acknowledged that police didn’t identify themselves until after shots were fired, but he said it was clear they were officers in uniform using marked police cars.“They were in the fight for their lives, let me clear with you. … They did very well. They were very brave,” he said. “They didn’t shoot or discharge the firearm right away. This was not a case of overreaction.”Copyright © 2021, ABC Audio. All rights reserved.last_img read more

Indian Navy: All-women crewed vessel makes first port call

first_img View post tag: INSV Mhadei Indian Navy: All-women crewed vessel to circumnavigate the globe in 2017 Authorities Share this article The Indian Navy sailing vessel INSV Mhadei, skippered and crewed by an all-women crew of naval officers for the very first time, entered the Indian Chennai Port on February 13.The 17-meter sail boat left Visakhapatnam after concluding participation in the International Fleet Review on February 9 and is scheduled to make stops at Chennai and Kochi ports enroute before reaching her home port at Goa.Lieutenant Commander Vartika Joshi, a Naval Architect, was appointed as the first woman Skipper of Mhadei on February 8 just prior to her return voyage.The boat is crewed by Lieutenants P Swathi, Pratibha Jamwal (Air Traffic Control specialists), Vijaya Devi and Sub Lieutenant Payal Gupta (both Education officers). The sixth member of the crew, Lieutenant B Aishwarya is an Engineer and is expected to join the boat next month.The women officers are training to form an all-women crew that would attempt to circumnavigate the globe next year. Mhadei will remain at the Ports of Chennai (13-16 Feb) and Kochi (23-26 Feb) on her return journey. She is scheduled to return to Goa on March 2.According to the Indian Navy, this is the first all-women crew to man any ocean-going sailing boat of the Navy. All the crew members are volunteers and are driven by their passion for adventure and a love for sailing and the seas.The Madhei was built at the Aquarius Shipyard Pvt Ltd shipyard based on the Tonga 56 design and delivered to the Navy in February 2009. The upcoming circumnavigation will not be the first for the ship as it already completed two of them, one in 2010 and one in 2012 when the Indian Navy Lt Cdr Abhilash Tomy became the first Indian to complete a single-handed, unassisted, non-stop circumnavigation.[mappress mapid=”17707″]center_img View post tag: Indian Navy Back to overview,Home naval-today Indian Navy: All-women crewed vessel to circumnavigate the globe in 2017 February 15, 2016last_img read more