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Moody’s downgrades outlook for China

first_img Related news James Langton Climate tide turns against oil companies: Moody’s Moody’s Investors Service has revised its outlook on China’s credit ratings to negative from stable amid concerns about the country’s fiscal future and the prospect of reform. The New York-based credit rating agency affirmed its current rating (Aa3) on China, but revised the outlook, citing fiscal concerns, such as rising government debt and rising contingent liabilities on the government balance sheet; ongoing policy, currency and growth risks; and uncertainty about the country’s ability to implement reforms to address imbalances in the economy. Share this article and your comments with peers on social media High debt levels threaten banks’ strong results: Fitch Facebook LinkedIn Twitter Keywords Credit ratings,  China Moody’s says that the government’s fiscal strength has weakened, and that it expects it to “diminish further, albeit from very high levels.” Specifically, Moody’s estimates that government debt in China rose to 40.6% of gross domestic product at the end of 2015 from 32.5% in 2012; it also expects debt to rise further to 43% by 2017. In addition, Moody’s also notes that leverage in the country’s state-owned businesses is high, and rising, which “raises the risk of either a sharp slowdown in economic growth, as debt servicing constrains other spending, or a marked deterioration of bank asset quality.” Moody’s also points out that China’s external vulnerability has increased as its foreign-exchange reserves have fallen over the past 18 months, which “highlights the possibility that pressure on the exchange rate and weakening confidence in the ability of the authorities to maintain economic growth and implement reforms could fuel further capital outflows.” Finally, Moody’s says that “China’s institutions are being tested by the challenges stemming from the multiple policy objectives of maintaining economic growth, implementing reform, and mitigating market volatility.” Failing to implement reforms could harm policy-makers’ credibility, Moody’s says, and it would likely also mean that China’s GDP growth slows more abruptly “as a high debt burden dampens business investment and demographics turn increasingly unfavourable. Government debt would increase more sharply than we currently expect.” Despite these concerns, Moody’s affirmed its rating on China citing the sheer size of its economy, its still-high growth rate and the country’s capacity to accommodate gradual reform. “These buffers include a relatively moderate level of government debt, which is financed at low cost, and high domestic savings and still substantial foreign-exchange reserves,” Moody’s says. Sovereign defaults hit record level in 2020: Fitchlast_img read more

What local leaders are thankful for this Thanksgiving

first_imgHomeBusinessWhat local leaders are thankful for this Thanksgiving Nov. 27, 2019 at 6:00 amBusinessFeaturedNewsWhat local leaders are thankful for this ThanksgivingGuest Author2 years agoBen DratiCynthia RenaudleadersMia WachtelNick ShippthankfulThanksgiving “Every year at Thanksgiving, I am asked the same question: What are you thankful for? There’s a lot in life to be thankful for; Thoughtful friends and a loving family, good grades and a warm place to sleep, but there is one thing I am especially grateful for this year: compassion. Com-passion is the reason we as people are compelled to help one another, to feel for one another, and to support one another. Without compassion, life itself would lose its most endearing quality. I am thankful for the compassion that I am greeted with every single day, and it is the gift that I will be giving back this Thanksgiving. How about you?”Mia Wachtel, Santa Monica-Malibu Unified School District Board of Education student member“There’s a lot of things to be thankful for this holiday season. We’re so thankful to our loyal regulars that have supported us through the years as well as new guests who have taken their valuable time to spend with us too. We’re incredibly thankful to our staff and their families…they are the real backbone of Upper West. Happy holidays and may you all be bestowed with a healthy and prosperous New Year!!!”Nick Shipp, chef of Upper West“As we enter this season of giving, I want to express my thanks for the hard work and dedication toward student achievement, creating safe school environments, and our district goals, by all staff, certificated and classified, throughout the year. I am thankful to be part of Santa Monica and Malibu, which are two very caring and generous communities always looking out for the best interests of our families, staff, and community members.I wish everyone in Santa Monica and Malibu, and all your loved ones, a healthy, safe, warm, and Happy Thanksgiving.”Dr. Ben Drati, Santa Monica-Malibu Unified School District Superintendent“I am thankful for my wonderful family; my husband, children, and siblings who inspire and make me proud every day. I am thankful for the great team here at SMPD that I am fortunate enough to be part of. And I am thankful for this engaged and connected community we all serve.”Cynthia Renaud, Santa Monica Chief of Police“I am deeply thankful for all the amazing people and non-profits in my district who are constantly working to reduce homelessness. Thanks to LA Family Housing in the Valley, Safe Place for Youth and St. Joseph’s Center in Venice, The People Concern in Santa Monica, and Blessed Sacrament and PATH in Hollywood, tens of thousands of men, women, and families, young and old, are moving from homelessness to homes. The lack of affordable housing in this region makes this crisis very challenging, but we are making progress, and I am eternally grateful for the caring dedication of all the people making that progress possible.”Sheila Kuehl, Los Angeles County Supervisor“We are thankful for 42 years on the Santa Monica Pier. We are thankful for the opportunity to represent our great city at one of the best travel destinations in the world. We are thankful to our community, their patience and pride in working with us to make the Santa Monica Pier even better. We are thankful to our city for caring about legacy, small family businesses. We are thankful to be a green business on a green Pier and hopeful that others will carry our message forward and make positive impacts in their community.”Greg Morena, Santa Monica City Council member and owner of The AlbrightTags :Ben DratiCynthia RenaudleadersMia WachtelNick ShippthankfulThanksgivingshare on Facebookshare on Twitteradd a commentCity halts plan to relocate parks maintenance crews to Santa Monica AirportNoteworthy – Tomorrow’s Musical Memories Now, IIYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall7 hours agoNewsCouncil picks new City ManagerBrennon Dixson18 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter18 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor18 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press18 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press18 hours agolast_img read more

Charity MVNO looks to IPO to fund overseas ambitions

first_img Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including… Read more BT consumer boss opens net neutrality debate Related Author Sunrise lanza un smartphone seguro para niños The People’s Operator (TPO), the UK MVNO which backs charitable causes and has Wikipedia co-founder Jimmy Wales as a shareholder, is planning a London flotation ahead of an international expansion.TPO is planning a listing on the small cap AIM market in November. The offering could put a value of up to £100 million on the business, said The Telegraph.Subscribers get to direct ten per cent of their monthly bill to a charity cause of their choosing. The company, which was founded in 2012, also gives a quarter of its trading profits away to charity.Now it has to convince potential investors to buy into that business model.TPO argues the key to its success is a customer acquisition model that undercuts the traditional approach of the mobile industry. It works with community organisations and causes who promote the MVNO’s service to supporters.In addition, its strategy will be supplemented by a new viral marketing system based on an online global community run and developed by Jimmy Wales, who is a ten per cent shareholder in TPO.Currently, the MVNO only operates in the UK where it piggybacks on the EE network. The UK service has signed up more than 10,000 users.The plan is to expand to the US next year via a deal with Sprint, with other countries to follow.Flotation proceeds will support further expansion.The MVNO is advised by Finncap. Richard Handford EEJimmy WalesSprintTPO AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 13 OCT 2014 Home Charity MVNO looks to IPO to fund overseas ambitions EE crowns UK gaming, video experience Previous ArticleGSMA chief hails progress in Arab States, urges more standardisation workNext ArticleEricsson, Facebook optimise app coverage on Indonesia’s XL network Tags last_img read more

First Listen! Steven Pasquale & Kelli O’Hara Perform ‘Falling Into You’ from The Bridges of Madison County

first_img Star Files The musical version of The Bridges of Madison County doesn’t begin Broadway performances until January 2014, but fans eager for a listen to the show’s sure-to-be touching score are in luck! Ghostlight Records released the tender ballad “Falling Into You” from the musical, performed by Steven Pasquale and Kelli O’Hara. Featuring a score by Tony winner Jason Robert Brown and a book by Tony winner Marsha Norman, Bridges tells the story of a lonely housewife named Francesca (O’Hara) and her unlikely love affair with Robert Kincaid (Pasquale), a sensitive photographer. “Falling Into You” ends the first act of the musical, which premiered at the Williamstown Theatre Festival this summer. Check out the song below! View Comments The Bridges of Madison County Show Closed This production ended its run on May 18, 2014center_img Steven Pasquale Related Shows Kelli O’Haralast_img read more

APH Announces New Leadership Structure

first_imgJohn Bartlett will continue his more than 50 years of leadership at APH in the newly-created position of chairman emeritus, where he will nurture key customer and supplier relationships, explore new growth opportunities and mentor company leaders.Advertisement As Automotive Parts Headquarters Inc. (APH) celebrates its 100th anniversary and prepares for its next century in business, Corey Bartlett, president and CEO, has announced a new leadership structure, including new senior management roles and responsibilities.AdvertisementClick Here to Read MoreAdvertisement Dennis Gregory has been named executive chairman. Since 2008, he has served as COO/CFO during a period of significant expansion for the company. In his new role, Gregory will lead the company’s strategic development, guide APH’s growth initiatives and foster a culture of innovation. Left to right: John Bartlett, Corey Bartlett, Jesse Westrup and Dennis Gregorycenter_img Jesse Westrup, who brings extensive operations experience from previous roles, has joined the company as chief operating officer (COO). He leads APH’s industry-savvy merchandising, inventory, pricing and distribution teams as they prepare for rapid growth in the future. Westrup reports to Corey Bartlett. “John led APH to become an industry leader with a strong commitment to its customers, employees and suppliers. We look forward to drawing on his experience and wisdom for many years to come,” commented Corey Bartlett. “The opportunities ahead of us are very exciting and I look forward to working with our entire leadership team to prepare for our next 100 years.”last_img read more

Teams: Hudson-Odoi and Rice handed full England debuts for Montenegro clash

first_img REPLY shining Gareth Southgate has named a positive line-up which sees the likes of Raheem Sterling, Dele Alli and Harry Kane start alongside 18-year-old Hudson-Odoi, who has replaced Jadon Sancho in the team.Rice, 20, has replaced Jordan Henderson in the line-up – with the Liverpool captain not fully fit following his Wembley run out. Boxing Day fixtures: All nine Premier League games live on talkSPORT RANKED Oxlade-Chamberlain suffers another setback as Klopp confirms serious injury LATEST FOOTBALL NEWS Below you can see the confirmed XIs for both teams.Montenegro: Petkovic; Stojkovic, Savic, Simic, Tomasevic; Marusic, Ivanic, Vukcevic, Vesovic; Beciraj, MugosaSubs: Mijatovic, Ljuljanovic, Boljevic, Kopitovic. Bakic, Jankovic, Djordjevic, Jovivic, Kajevic, Kosovic, Scekic, RadunovicEngland: Pickford, Walker, Keane, Maguire, Rose, Rice, Barkley, Alli, Hudson-Odoi, Sterling, KaneSubs: Heaton, Butland, Trippier, Henderson, Tarkowski, Chilwell, Ward-Prowse, Sancho, Wilson Hudson-Odoi has been handed his first England start Ronaldo warned Lukaku how hard scoring goals in Serie A would be before Inter move Son ban confirmed as Tottenham fail with appeal to overturn red card REVEALED Every time Ally McCoist lost it on air in 2019, including funny XI reactions huge blow Where Ancelotti ranks with every Premier League boss for trophies won Leicester full-back Ben Chilwell has been replaced by Tottenham’s Danny Rose in the XI, while Ross Barkley comes in for the injured Eric Dier in the fourth and final change made from team who played the Czechs.Southampton midfielder James Ward-Prowse, 24, will have to wait for his senior bow as he starts on the bench.center_img REVEALED There are six live commentaries across the talkSPORT network this week. Find out what they are and where to hear them, below… Premier League Team of the Season so far, including Liverpool and Leicester stars Top nine Premier League free transfers of the decade Callum Hudson-Odoi and Declan Rice have been handed their full debuts for England as they face Montenegro in their second Euro 2020 qualifying match in Podgorica – a game you can listen to live on talkSPORT.Both the Chelsea winger and the West Ham midfielder were substitutes in the Three Lions’ opening Euro 2020 qualifying win over the Czech Republic on Friday. ADVICE 1 gameday cracker Berahino hits back at b******t Johnson criticism – ‘I was in a dark place at Stoke’ BEST OF Which teams do the best on Boxing Day in the Premier League era? no dice Montenegro vs England (Monday) – talkSPORTFrance vs Iceland (Monday) – talkSPORT 2Czech Republic vs Brazil (Tuesday) – talkSPORT 2West Brom vs Birmingham (Friday) – talkSPORT 2West Ham vs Everton (Saturday) – talkSPORTPortsmouth vs Sunderland (Sunday) – talkSPORT 2 LIVE on talkSPORTlast_img read more