Alstom in Talks With Skoda Transportation to Sell Plant: Echos


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By Ania Nussbaum

(Bloomberg) —

Alstom SA, the maker of the French high-speed TGV train, will open exclusive talks with Skoda Transportation to sell its plant in Reichshoffen, North Eastern France, to the Czech company, the daily Les Echos reported, without saying where it got the information.

The sale is being imposed by the European Commission to complete a deal with Canada’s Bombardier Inc.’s rail unit. Alstom selected Skoda Transportation over Spain’s CAF, because it’s potentially a more ambitious rival, according to Les Echos. The French train maker declined to comment to the newspaper.

Read more: Alstom Signals Bombardier Rail Arm Losses to Affect Takeover

The companies have said that the purchase of Bombardier’s transport business will be completed in the first quarter of next year. The French train manufacturer would almost double its size with the cash-and-stock purchase of Bombardier’s rail unit.

©2020 Bloomberg L.P.

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S&P, Nasdaq close higher as stimulus talks in spotlight



FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., October 2, 2020. REUTERS/Carlo Allegri/File Photo

October 23, 2020

By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) – The S&P 500 and Nasdaq closed modestly higher on Friday in choppy trading, with investors keeping a close eye on negotiations on a U.S. stimulus package that would ease the economic shock caused by the coronavirus pandemic.

The Dow ended lower on the day, moving within tight ranges.

Uncertainty over the timeline of the relief legislation has been weighing on Wall Street’s major indexes in recent sessions, with all three indexes posting declines for the week.

U.S. House Speaker Nancy Pelosi said it still was possible to get another round of COVID-19 aid before the Nov. 3 election, but that it was up to President Donald Trump to act, including talking to reluctant Senate Republicans, if he wants it.

Trump and Treasury Secretary Steven Mnuchin countered that Pelosi must compromise to get an aid package, saying significant differences remained between the Republican administration and Democrats.

Still the market believes a stimulus deal is going to get done: The only question would be size and timing, analysts said.

The Dow Jones Industrial Average closed 28.09 points lower, or 0.1%, to 28,335.57, the S&P 500 gained 11.9 points, or 0.34%, to 3,465.39 and the Nasdaq Composite added 42.28 points, or 0.37%, to 11,548.28. The communication services sector rose 1.1%, the highest gainer among the major S&P sectors.

“This has been a stimulus-driven market for several weeks — today is more evidence of that,” said Lindsey Bell, chief investment strategist at Ally Invest, in Charlotte, North Carolina.

“The market believes we are getting a stimulus. But it wants to know when it’s going to pass because it’s going to take time for the money to flow out,” she added.

Meanwhile, a record 50 million Americans cast ballots, eclipsing total early voting from the 2016 election.

Trump and Democratic rival Joe Biden debated on Thursday for the last time to persuade the few remaining undecided voters 11 days before their contest, but while the debate was more toned down and substantive, it hardly moved the needle.

Trump still trailed former vice president Biden in national polls after the debate, although the contest is much tighter in some battleground states where the election will likely be decided.

A sharp 10% fall in chipmaker Intel Corp after it reported a drop in margins earlier weighed on the market. Intel’s results were pressured as consumers bought cheaper laptops and pandemic-stricken businesses and governments clamped down on data center spending.

The third-quarter earnings season, meanwhile, chugged along, with about 84% of the 135 S&P 500 companies that have reported so far topping quarterly profit estimates, according to Refinitiv data.

Next week’s focus will be on results from Big Tech companies Apple Inc, Facebook Inc, Amazon.com Inc and Google-parent Alphabet.

Gilead Sciences Inc rose 0.2% as its antiviral drug remdesivir became the first and only drug approved for treating patients hospitalized with COVID-19 in the United States.

American Express Co fell 3.6% as it missed estimates for third-quarter profit after its customers spent less during the COVID-19 fueled economic slowdown and it set aside money for potential payment defaults.

For the week, the Dow ended down 0.9%, the S&P 500 fell 0.5% and Nasdaq declined 1.1%.

Volume on U.S exchanges was 7.79 billion shares, compared with the nearly 9 billion average for the full session over the last 20 trading days.

(Reporting by Gertrude Chavez-Dreyfus; Editing by Cynthia Osterman)





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F1 ace Hamilton delays contract talks


Formula One world champion Lewis Hamilton says agreeing to a new contract with Mercedes is “probably” a formality, but sitting down for talks is “not a priority right now.”

“A formality? I don’t know, maybe, probably,” Hamilton said ahead of the Portuguese Grand Prix on Sunday.

“At some stage I guess we have to sit down and have the conversation. But it’s not a priority right now.

“Getting the job done this year, for me personally, is the priority. So that’s what I’m solely focused on right now.”

Hamilton, 35, is on course to retain his world title and equal Michael Schumacher’s record of seven.

He equalled the German’s record 91 wins on October 11 at the Eifel Grand Prix and can take sole possession of that honour himself on Sunday.

Previously the Briton signed three-year contracts with Mercedes, but now said there were a few factors to consider when it comes to settling how long he wants his next deal to be – including the effects of the coronavirus pandemic.

“I do want to stay, and I think when we do sit down, normally (when) we plan, it’s been three-year periods, but of course, we’re in a different time,” he said.

“Do I want to continue for three years is also a question – there are many, many questions still to be answered.

“Time will tell. I can’t really say too much more. Hopefully you’ll hear something in the next couple of months.”





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Brexit: Why is fishing a stumbling block in the trade talks?


Why fishing is a stumbling block in Brexit talks. Video, 00:03:28



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Jarry Lee: Multi-Talented Model talks about her beauty Secrets and Success Story


Photo Credit: Saudade Studio

Jarry Lee is an agency-signed model, actor, musician, influencer, and former journalist originally from England, Wales, and Connecticut. She has immense following on social media channels, and has appeared as herself on the Netflix show Dating Around (season 1), and in commercials for AT&T, Dr. Brandt skincare, and various L’Oréal brands. As a model and actor, she has worked with Maybelline, Lancôme, Bobbi Brown Cosmetics, Revlon, Apple, Google, Ben & Jerry’s, Nike, and many other companies.

She has been featured in VOGUE Italia, POPSUGAR, Mic, Elite Daily, NY Daily News, AM New York, Authority Magazine, The New York Times, Cliché Magazine, Thrive Global, StarCentral Magazine, Fem Founder, TMS, MESS Magazine, MOVER Magazine, NALUDA Magazine, and other publications.

Previously, she was the Deputy Books Editor at BuzzFeed for about four years, covering books and culture. She is alum of Choate (prep school) and NYU (university), where she graduated summa cum laude as a Phi Beta Kappa honoree. She has also worked in digital marketing for publishing houses HarperCollins, Penguin Random House, and Simon & Schuster.

Women Fitness President Ms. Namita Nayyar did a candid interview with Jarry Lee, a model, actor, musician, influencer, and former journalist where she talks about her workout, diet, hair & skin care, and her success story.

Namita Nayyar:

You are originally from England, Wales, and Connecticut and now are based in New York City. Your first major breakthrough in modeling was when you walked at New York Fashion Week F/W 2018 as a Runway Model in February 2018. This propelled your modeling career to the height where you have been at the top of the world of fashion and glamour modeling. Tell us more about your journey of hard work, tenacity, and endurance?

Jarry Lee:

I started modeling and acting as a hobby on the side — in spring 2018 and fall 2017, respectively. I found that I really enjoyed the creative aspect of collaborating with photographers to make images that looked like art, especially when they involved unique editorial makeup looks and high fashion styles. Eventually when I started booking more and more paid shoots with bigger brands, I quit my job at BuzzFeed and my career in media in general to pursue it full-time. I didn’t have any prior knowledge or experience in the industries I’m in now, which was a challenge at first. But keeping open-minded and adaptable helped me become a quick learner.

I believe you can be successful in an industry you know nothing about as long as you are determined and committed to putting in the work. Another reason I decided to pursue it was because there are few Asian models in the industry — I’ve had young women reach out to me and express that they felt inspired to see someone who looked like them working and succeeding. Representation matters! I never saw Asian models when I was growing up, so I didn’t even consider it as a possibility.

Namita Nayyar:

You have run a half marathon in 2019 and are also an avid long-distance runner & weightlifter. Elaborate about your passion for sports and what you do to build stamina for long-distance running?

Jarry Lee
Photo Credit: Rutvik Katuri
Jarry Lee:

I was on the cross-country running team at Choate Rosemary Hall and grew up playing badminton, tennis, and some golf. I took a break from sports while studying at New York University, but after I graduated, got back into running 5k and 10k races in New York City. I also started weightlifting and strength training with different personal trainers a few years ago.

In 2019, ASICS sponsored me to run my first half marathon, and while it was challenging, the weightlifting really helped to build up my stamina. These days, I try to maintain a balance of both cardio/running and strength training. I also drink protein shakes after every work out and try to cook most of my meals.

Namita Nayyar:

You are a world-leading media personality, model, actress, musician, journalist, and brand ambassador. How do you manage such a remarkable multi-dimensional lifestyle?

Jarry Lee
Photo Credit: Pierre Richard Louis
Jarry Lee:

I love many forms of art, so I work to express myself creatively in many different formats. I’m interested in learning to do everything! It can be difficult to maintain work-life balance because I don’t have formal workday hours, so I’ll find myself working all day and night if I don’t set breaks for myself.

Establishing a consistent hard stop to the workday helps. I also set aside time each week to visualize my current goals and the precise steps I must take to make progress towards them. Writing down a to-do list of these small next steps helps me stay motivated and narrows down my focus.

 Full Interview is Continued on Next Page

This interview is exclusive and taken by Namita Nayyar President womenfitness.net and should not be reproduced, copied or hosted in part or full anywhere without an express permission.

All Written Content Copyright © 2020 Women Fitness

Disclaimer
The Content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition.



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AFL 2020 | Congratulations to the AFL but remember, talks of sacrifices wears thin


That’s dangerous for anyone who relocated temporarily, with permission from the Queensland government, to be with family or play, report on, officiate or administer the game from the state after 14 days in quarantine, even those living under AFL protocols which minimises their activity to essentials.

The environment increases the chances of there being a disconnect between whatever words the AFL use in Queensland to describe the enormous effort it has taken to complete the season and how they are received by those who have endured the lockdown in the heartland.

The negative reaction to grass being transported from the MCG to the Gabba – a sponsor had the idea and bore the total cost – showed the danger of symbolism and the Victorian racing minister’s own goal this week in relation to crowds showed sport needs to remember its place at this time.

Loading

There were hints of potential missteps on Brownlow medal night when players and their families were lauded for the enormous sacrifices they made to enable the season to occur.

Recently more than one player from more than one club has reminded everyone they have now racked up 100 days away from home, as though they are on a tour of duty.

In normal circumstances all that rhetoric is fair enough as everyone gets that lives have been disrupted and it has not been an easy time for players and club officials, particularly with many likely to have experienced difficulties relating to family we will never be aware of and soldiered on. Hell, players had babies on the road.

And the AFL did a great job in adverse circumstances to finish the season with a premier.

But it’s important for those in the AFL and clubs to remember no-one in Melbourne really wants to hear about the sacrifices being made by those who have been in Queensland because – whether the perception is fair or not – most Melburnians suspect those in hubs at clubs have had a better time than them in the past 100 days.

For most football has been a welcome distraction rather than something providing total salvation in the toughest year many have experienced.

On Saturday people in Melbourne will feel acutely what is missing as their traditional gatherings for grand final day are limited during a winter, and now spring, without contact with loved ones. No-one, apart from AFL players, have played football in the state for a long time now.

Everyone, including those involved in the AFL, have either heard or have personal experience of harrowing stories of people not being able to visit loved ones in hospital or attend funerals and the range of emotions such a reality sparks. People face uncertain futures and health workers have been real heroes.

What might be best for the AFL to communicate – rather than anything with a hint of self-congratulation – is their appreciation of the sacrifices Melburnians have made in an attempt to bring the pandemic under control and their continued passionate support of their teams via television.

And an offering that when those running the competition return to Victoria they will rejoin football lovers with renewed energy in its fight to create a strong sense of community heading into 2021, investing – as they are at an increased rate – in the important role community football can play in achieving that.

Loading

If they keep that thought front and centre then Victorians will embrace and respect those in football who packed their bags and gave everyone a distraction when they needed it most.

Denis Pagan said it best when he said, in rough terms, if you’re any good someone will tell you. It will serve the clubs and the AFL well to remember that.

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AFL 2020 | Congratulations to the AFL but remember, talks of sacrifices wears thin


That’s dangerous for anyone who relocated temporarily, with permission from the Queensland government, to be with family or play, report on, officiate or administer the game from the state after 14 days in quarantine, even those living under AFL protocols which minimises their activity to essentials.

The environment increases the chances of there being a disconnect between whatever words the AFL use in Queensland to describe the enormous effort it has taken to complete the season and how they are received by those who have endured the lockdown in the heartland.

The negative reaction to grass being transported from the MCG to the Gabba – a sponsor had the idea and bore the total cost – showed the danger of symbolism and the Victorian racing minister’s own goal this week in relation to crowds showed sport needs to remember its place at this time.

Loading

There were hints of potential missteps on Brownlow medal night when players and their families were lauded for the enormous sacrifices they made to enable the season to occur.

Recently more than one player from more than one club has reminded everyone they have now racked up 100 days away from home, as though they are on a tour of duty.

In normal circumstances all that rhetoric is fair enough as everyone gets that lives have been disrupted and it has not been an easy time for players and club officials, particularly with many likely to have experienced difficulties relating to family we will never be aware of and soldiered on. Hell, players had babies on the road.

And the AFL did a great job in adverse circumstances to finish the season with a premier.

But it’s important for those in the AFL and clubs to remember no-one in Melbourne really wants to hear about the sacrifices being made by those who have been in Queensland because – whether the perception is fair or not – most Melburnians suspect those in hubs at clubs have had a better time than them in the past 100 days.

For most football has been a welcome distraction rather than something providing total salvation in the toughest year many have experienced.

On Saturday people in Melbourne will feel acutely what is missing as their traditional gatherings for grand final day are limited during a winter, and now spring, without contact with loved ones. No-one, apart from AFL players, have played football in the state for a long time now.

Everyone, including those involved in the AFL, have either heard or have personal experience of harrowing stories of people not being able to visit loved ones in hospital or attend funerals and the range of emotions such a reality sparks. People face uncertain futures and health workers have been real heroes.

What might be best for the AFL to communicate – rather than anything with a hint of self-congratulation – is their appreciation of the sacrifices Melburnians have made in an attempt to bring the pandemic under control and their continued passionate support of their teams via television.

And an offering that when those running the competition return to Victoria they will rejoin football lovers with renewed energy in its fight to create a strong sense of community heading into 2021, investing – as they are at an increased rate – in the important role community football can play in achieving that.

Loading

If they keep that thought front and centre then Victorians will embrace and respect those in football who packed their bags and gave everyone a distraction when they needed it most.

Denis Pagan said it best when he said, in rough terms, if you’re any good someone will tell you. It will serve the clubs and the AFL well to remember that.

Most Viewed in Sport

Loading



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S&P edges higher in choppy session as stimulus talks drag on



FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York City, New York, U.S., June 26, 2020. REUTERS/Brendan McDermid

October 21, 2020

By Sinéad Carew

(Reuters) – The S&P 500 advanced slightly on Wednesday in volatile trading as investors tracked Washington negotiations for a fresh coronavirus stimulus package and appeared skeptical a deal would be reached before the Nov. 3 U.S. elections.

U.S. House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin were scheduled to talk at 230 PM EDT (1830 GMT) about details of a relief package that Democrats want be in the range of $2.2 trillion.

Pelosi, who over the weekend had set a Tuesday deadline for an agreement, said she hoped to resolve the “appropriations piece” of the aid bill Wednesday. However, Senate Majority Leader Mitch McConnell does not want to bring a large coronavirus aid bill to the Senate floor before the election, a senior Republican aide said.

“The market’s maybe finally realizing it’s not happening or if it does happen its going to happen after the election,” said Michael O’Rourke, chief market strategist at JonesTrading in Stamford, Connecticut.

But investors were taking that prospect in their stride as a pre-election agreement has been in question for some time.

“We’re not seeing a lot of panic or fear. Apathy is a good description,” said O’Rourke.

At 2:25 p.m. ET, the Dow Jones Industrial Average rose 0.13 points, or 0%, to 28,308.92, the S&P 500 gained 5.71 points, or 0.17%, to 3,448.83 and the Nasdaq Composite added 8.02 points, or 0.07%, to 11,524.51.

Seven of the 11 major S&P sectors were lower, with Energy leading the percentage decliners.

Instead of plowing money into the market broadly, O’ Rourke said investors picked stocks as they looked at results coming out of the third-quarter financial reporting season.

Of the major industry sectors communications services was the biggest gainer, up nearly 2%, after Snapchat messaging app owner Snap Inc beat user growth and revenue forecasts, as more people signed up to chat with friends and family during the COVID-19 pandemic.

The results boosted the shares of social media companies Facebook Inc, up around 5%, and Twitter Inc, up around 8%, helped lift the communications services sector along with a 2.7% rise for Google-parent Alphabet Inc. Smaller social media firm Pinterest Inc was up 8%.

Dampening the mood, Netflix Inc was down more than 6% after it kicked off earnings from the Big Tech club. The video streaming service missed expectations for subscriber growth as competition increased and live sports returned to television.

Of the 84 S&P 500 firms that have reported third-quarter results, 85.7% have topped expectations for earnings, according to IBES Refinitiv data.

After touching a one month high early, Wall Street’s fear gauge edged lower in afternoon trading.

Investors were also worried ahead of the elections.

Republican President Donald Trump and Democratic challenger Joe Biden will face off in their second and final debate on Thursday night, with Biden leading the race, according to national polls.

Indexes changed little after the U.S. central bank’s “Beige Book” report, a snapshot of the economy gleaned from discussions with business contacts, showed that employment increased in almost all districts, though growth remained slow.

Electric-car maker Tesla Inc rose 1.4% as investors geared up for its quarterly report after the closing bell.

Declining issues outnumbered advancing ones on the NYSE by a 1.42-to-1 ratio; on Nasdaq, a 1.38-to-1 ratio favored decliners.

The S&P 500 posted 19 new 52-week highs and no new lows; the Nasdaq Composite recorded 53 new highs and 28 new lows.

(Additional reporting by Medha Singh and Shivani Kumaresan in Bengaluru; Editing by Shounak Dasgupta and David Gregorio)





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UK and EU to resume talks in final push for post-Brexit trade deal


The EU and UK will embark on an intensified final phase of Brexit talks on Thursday after Britain agreed to lift its block on negotiations, prompting the pound to stage its biggest rally since March.

The breakthrough came in a call lasting about an hour between Michel Barnier, the EU’s chief negotiator, and David Frost, his UK counterpart, with both sides agreeing to resume face-to-face talks.

Negotiations had been on ice since last week because of UK prime minister Boris Johnson’s decision to demand a “fundamental” rethink from Brussels before allowing further discussions.

EU officials will travel to London to get talks under way on Thursday with the intention that negotiations will take place every day until a deal is reached — either in the UK capital or in Brussels. The EU team is expected to stay in London until Sunday.

The renewed hopes of a deal boosted sterling, which climbed 1.7 per cent against the dollar to trade at more than $1.31 for the first time since early September.

Both sides have long anticipated a final sprint to the finish line of a deal, with EU diplomats mooting months ago that the second half of October would see talks enter an intensified “tunnel” or “submarine” format.

Mr Barnier and Lord Frost on Thursday agreed a 10-point plan for this “next and final phase of the negotiations”, including working through weekends and establishing a “small joint secretariat” “to hold a master consolidated text”.

Downing Street said public comments by Mr Barnier on Wednesday had answered a call from Mr Johnson for Brussels to take a more realistic and constructive attitude to the talks.

Mr Barnier told the European Parliament on Wednesday morning that “an agreement is within reach if we are on both sides prepared to work constructively and in a spirit of compromise”, while insisting that the EU was not seeking to undermine UK sovereignty.

A Downing Street spokesperson said: “It is clear that significant gaps remain between our positions in the most difficult areas, but we are ready, with the EU, to see if it is possible to bridge them in intensive talks.”

Lord Frost reported back to the prime minister, who was said by officials to be “happy” at what he saw as important movement by Brussels towards a compromise. “His tests have been met,” said one UK official.

Mr Johnson had criticised a statement adopted by EU leaders at a summit last week that called on the UK “to make the necessary moves to make an agreement possible”, saying there was no point continuing talks if all concessions needed to come from the British side.

EU diplomats noted that Mr Barnier’s comments on Wednesday were a close reflection of those he made in last week’s EU summit press conference, as well as of remarks made at that time by other EU leaders such as Germany’s Angela Merkel.

But they proved enough to end the impasse, which persisted over the early part of this week despite daily calls between Lord Frost and Mr Barnier.

Although many seasoned officials in London and Brussels saw Mr Johnson’s threat last week to end the talks as a classic escalation of rhetoric ahead of an inevitable UK climbdown — a repeat of his tactics ahead of agreeing Britain’s withdrawal deal last year — allies of the prime minister saw it differently.

Brexit Briefing

Public policy editor Peter Foster probes the gap between ministerial rhetoric and a new reality for business and industry, as Britain enters the final, critical stages of negotiations with the EU. Get Brexit Briefing in your inbox every Thursday. Sign up here.

“It’s a huge move from them,” said one. “They have backed down. There is a genuine process now.”

Although Downing Street has not set a new timetable for the conclusion of a deal, officials in London are looking at a final phase of negotiations leading to an agreement in early November.

Negotiations remain stuck on three main unresolved issues: fishing rights in British waters, fair competition rules for business and mechanisms for resolving future disputes. 

Mr Barnier on Wednesday pointed to recent progress in talks on “level-playing field” guarantees for companies — including in the area of state aid — as a sign that difficult disagreements could be overcome. 

He acknowledged that Britain had, over the past few weeks, moved to recognise the agreement would need to include “fundamental principles” limiting state subsidies that will go “beyond what exists in other free trade agreements and at the WTO”.

“But it is necessary now that these intentions translate into outcomes in the negotiations,” he said. 

Additional reporting by Tommy Stubbington and Naomi Rovnick



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