first_imgCHELSEA (4-2-3-1)BEGOVIC, IVANOVIC, CAHILL, TERRY, AZPILICUETA, RAMIRES, FABREGAS, WILLIAN, OSCAR, HAZARD, COSTAVILLA (3-5-2)GESTEDE, SINCLAIR,AMAVI, GUEYE, WESTWOOD, VERETOUT, HUTTON, LESCOTT, RICHARDS, CRESPO,GUZANChelsea lost their last game at Stamford Bridge, beaten 3-1 by Southampton, and now face Aston Villa attempting to win for only the third time in nine games in the Barclays Premier League.The Blues have conceded at least two goals in seven of their eight Premier League games this season. And Chelsea have conceded seven goals in their last four home league games, as many as they had in their previous 17 at Stamford Bridge.And the eight points they have is their lowest total after eight games in a top-flight season since the 1978-79 campaign, when they had just four. Chelsea were relegated that season.Manager JosÈ Mourinho has insisted he will not resign, but his Villa counterpart, Tim Sherwood, is said to be under pressure and unless results improve in this game and the next, against Swansea, he could lose his job.Less than five months after leading Villa to the FA Cup final, Sherwood has lost six of his last seven Premier League and taken just one point from a possible 21. Former Spurs boss Sherwood has now lost 19 Premier League games, as many as he has won.last_img read more

Bond yield does a flip

first_imgWASHINGTON – Whether a harbinger of troubled economic times or a quirk due to light trading around the holidays, this week’s flip in the bond market – where long-term investments for a while fetched lower interest rates than short-term ones – bears close watching. Yields, or the return, on 10-year Treasury notes on Tuesday dropped slightly below the yields on two-year notes, marking the first time this has happened in five years. This phenomenon, also evident for part of the trading session Wednesday, is called an “inverted yield curve” and in the past it has often preceded a recession. Typically longer-term instruments carry higher interest rates than shorter-term ones to compensate investors for tying up their money over a longer time frame – a decision that can be fraught with uncertainty. When the situation reverses, it signals that bond investors are betting that interest rates down the road will move lower, something that can happen in the event the economy were to slow down or slip into a recession, thus blunting any concern about inflation. Analysts pointed out that the difference, or spread, between the two instruments is tiny and it comes during the holidays when lighter than normal trading volume can magnify movements in bond prices. Bond prices and yields move in opposite directions. Against this backdrop, “I think the message in this inverted yield curve is muddled,” said Mark Zandi, chief economist at Moody’s “I think what we are seeing with the bond yields is a byproduct of globalization. That being said, I think it is something to watch and to understand better. But I am not overly concerned.” Zandi and other analysts continue to believe the U.S. economy will remain in good shape. The economy, which grew at a stellar 4.2 percent in 2004, is expected to log solid growth of around 3.6 percent this year and 3.3 percent in 2006, according to some projections. Greenspan and other economists have indicated that given all the forces – especially global ones – that can affect the U.S. financial market – the inverted yield curve might no longer be a useful predictor of future economic activity. “Many factors can affect the slope of the yield curve, and these factors do not all have the same implications for future output growth,” Greenspan wrote in late November in response to a lawmaker’s question about it. Still, economists weren’t willing to completely shrug off Tuesday’s flip. The economy’s last recession, in 2001, was preceded by an inverted yield that started in 2000, analysts said. Inverted yield curves preceded the past six recessions, analysts said. But there were two times, most recently in 1998, when the yield curve inverted but the economy didn’t slip into recession, they noted. If the flip seen Tuesday were to be sustained and the gap between the yields on the two-year and 10-year Treasury notes were to widen, it could spell trouble, analysts said. Credit could get seriously crimped, they said. Banks normally borrow money at short-term rates and lend out the money at longer-term rates. “When the yield curve inverts, banks’ funding costs rise above what they earn by lending. This can produce a credit crunch,” said Greg McBride, senior financial analyst at The housing market also could be hurt if the pool of money available for lending were to dry up. Well before Tuesday’s flip, the yield curve was flattening, analysts said. For nearly two years, the Federal Reserve has been boosting short-term interest rates to keep the economy and inflation on an even keel. During that time, however, longer-term interest rates have stayed surprisingly low and the economy has motored ahead. Greenspan once referred to this puzzling divergence in short- and long-term rates as a “conundrum.” The Fed’s key short-term rate, called the federal funds rate, now stands at a 4 year high of 4.25 percent. The funds rate, the interest banks charge each other on overnight loans, directly affects the prime lending rate as well as short-term adjustable-rate mortgages. Another increase in the funds rate is expected Jan. 31, Greenspan’s last meeting as chairman. After that, the reins will be turned over to Ben Bernanke, who will have to deal with any economic challenges that come his way. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MORERose Parade grand marshal Rita Moreno talks New Year’s Day outfit and ‘West Side Story’ remake For now, though, many analysts – while keeping close tabs on the behavior of bonds – are not ready to ring the alarm. A number of other, more positive forces could be helping to keep long-term interest rates unusually low. Economists said the low longer-term rates might reflect investors’ confidence in the Federal Reserve’s inflation-fighting prowess. The hearty appetite of foreign investors for U.S. Treasury securities – viewed as one of the most safe investments in the world – is another factor believed to be behind the low longer-term rates. Increased competition from an ever-growing global marketplace has helped to keep inflation under control and also may explain the low longer-term rates, economists said. On Tuesday the yield on the 10-year Treasury note was 4.34 percent, a tad lower than the two-year note’s yield of 4.35 percent. The yields, which had hovered in that range for part of Wednesday had switched by the close of trading. The 10-year yield stood at 4.37 percent, up a notch from the two-year’s yield of 4.36 percent. last_img read more

Round-up: Jose upbeat, Diakite wants chance, Bees reject bid, Middlesex lose

first_imgChelsea ended their pre-season campaign with a third loss in five friendlies.The Blues were beaten 1-0 by Italian side Fiorentina at Stamford Bridge, where Radamel Falcao made his first appearance in front of the home fans since moving to West London.Boss Jose Mourinho played down the significance of the result and was pleased to see youngster Ola Aina pick up first-team experience along with fellow academy product Ruben Loftus-Cheek.Meanwhile, Brentford have rejected an £8m bid from Hull City for Andre Gray and Moses Adubajo.Brentford want £10.5m for a double deal involving Gray and AdubajoAnother player who won’t be leaving west London for the time being at least is QPR midfielder Leroy Fer, whose proposed loan move to Sunderland was scrapped after he failed a medical.Samba Diakite, on the other hand, has told West London Sport he wants to stay at Rangers and has pleaded with boss Chris Ramsey to give him a chance.There continues to be speculation over the future of Charlie Austin – the Daily Mirror claim Tottenham want the QPR striker.And R’s fans have been reacting to the arrival of veteran defender Paul Konchesky, with some on Twitter not impressed with the signing.Elsewhere, new Fulham signing Luke Garbutt faces six weeks out with an ankle injury.And Middlesex were beaten by Essex in their latest Royal London One-Day Cup match.Follow West London Sport on TwitterFind us on Facebooklast_img read more

Report: Certified Homes Selling at a Premium in Northwest

first_imgAt this point, it may still be easier to document the energy performance of green homes than it is to calculate the affect of green certifications on sale prices, but that won’t stop people from trying to do the latter with as much accuracy as possible.A case in point is a report released this week by Earth Advantage Institute, a green-home certifier and educational nonprofit based in Portland, Oregon. The study focused on sales of certified and appraiser-approved noncertified homes in the four-county Seattle area and the five-county Portland area.Homes certified by Earth Advantage, Energy Star, Built Green, and LEED for Homes were included in the study – 92 certified homes in the Portland area and 68 in the Seattle area, with respective average selling prices of $474,000 and $523,000. For each certified home, two to seven comparable homes were identified.A certification edgeThe result: certified homes in the Seattle area sold for 9.7% more than noncertified homes, while those in the Portland area sold for 3% to 5% more and, on average, 18 days sooner. Debate is ongoing about the marketability of actual energy performance versus that of a certification label, and as the green-home market evolves the distance between the two may get pretty thin. But for now, we’re looking for more data.Earth Advantage notes that its study is part of a larger regional market analysis that will include a residential case study soon to be published by the Northwest Eco-Building Guild and made available on the Built Green Washington website.The regional analysis is being done collaboratively by several green building nonprofits and government organizations in the Northwest, including Built Green, Cascadia Region Green Building Council, Earth Advantage Institute, Master Builders Association of King and Snohomish Counties, Master Builders Association of Pierce County, the Northwest Eco-Building Guild, Olympia Master Builders, and Washington State Department of Ecology.last_img read more

More than 100 Norwood Residents Get Land Titles

first_img More than 100 residents of Norwood, St. James, have received land titles for the property that they occupy.The presentation ceremony, under the Housing Agency of Jamaica’s (HAJ) land-titling programme, was held on Sunday (July 9) at the Norwood Seventh-day Adventist Church.Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Hon. Dr. Horace Chang, who handed over the documents, congratulated the new property owners.“These are the individuals who have actually paid down for their lots and are receiving their registered titles. We have gone through certificate of ownership (and) this is a genuine registered title, insured by the Government of Jamaica, to demark the property you are on, and it is yours,” he noted.He said that they have made an investment in their homes and the development of a regulated, respected community, and should be proud.“The Jamaican land title is an important piece of instrument. I think many of you have invested much in your homes over the years. You have worked hard… it has taken you a long time, lots of hard work and sweat, and your own self-worth, self-pride and ambition have given you a comfortable space,” he noted.Dr. Chang urged the residents to use the titles to improve their lives.“You can use it in a way that you find appropriate. Whether you want to go to the bank and borrow some money and fix up the house or help pay the school fee; the title gives you that type of opportunity,” he pointed out.He said the Government is committed to providing the necessary infrastructure and titles for residents living in informal communities.“There are thousands of Jamaicans living in such areas… (so) what we want to do is to transform them. The programme will be adequately funded,” he noted. More than 100 residents of Norwood, St. James, have received land titles for the property that they occupy. Story Highlights “The Jamaican land title is an important piece of instrument. I think many of you have invested much in your homes over the years. You have worked hard… it has taken you a long time, lots of hard work and sweat, and your own self-worth, self-pride and ambition have given you a comfortable space,” he noted. Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Hon. Dr. Horace Chang, who handed over the documents, congratulated the new property owners.last_img read more

Government wont ban petrol diesel vehicles Gadkari assures auto makers

first_imgNEW DELHI: Petrol and diesel-powered vehicles will not be banned in the country, the government clarified on Thursday as the automobile industry is at a crossroads with the internal combustion engine (ICE) and rapid transition to electric vehicles.Nitin Gadkari, Union minister for road transport and highways, said, “The government has no intentions of banning the production or stopping the existing petrol and diesel-fuelled vehicles. People had apprehensions about buying ICE vehicles, and we are not going to take any such step.” Also Read – India gets first tranche of Swiss bank a/c detailsAuto industry experts briefed Gadkari about the rise in prices of vehicles due to BSVI compliant engine. “The industry has sought a relaxation of GST on vehicles due to the extra cost incurred for the transition from BSIV to BSVI compliant engine. I would surely convey this to finance minister Nirmala Sitharaman, and the government may consider the reduction of GST temporarily.” The minister, however, highlighted three significant challenges – import of crude, pollution and road accident – the government is currently facing with the automobile sector. Also Read – Tourists to be allowed in J&K from Thursday”Firstly, we are aware of how importing crude is impacting the economy. The imports have crossed Rs 7 lakh crore. Pollution is our second big challenge, which is affecting the entire world. The automobile industry is not the reason behind the pollution. Reducing pollution is of national and social interests. Thirdly, we wanted to address the issue of road accidents. Annually, over five lakh road accidents occur across the country. To ensure greater road safety, we introduced the Motor Vehicles Act 2019,” Gadkari said at the 59th annual convention of Siam (Society of Indian Automobile Manufacturers). “We are ready to take inputs and suggestions from the stakeholders and finance minister Nirmala Sitharama is constantly trying to solve the problems of a slowdown in the automobile industry. The government has taken steps to ensure greater liquidity in the system,” Gadkari added. Sitharaman announced a slew of measures on August 23 including making auto loans cheaper, lifting the ban on purchase of new vehicles for replacing old government vehicles, deferring of one-time registration fees till June 2020, additional 15% depreciation on all vehicles and operation of BSIV vehicles for their entire period of registration. With PTI inputslast_img read more