Companies Trump said would create thousands of jobs have failed to deliver

first_imgIn his first address to the US Congress, President Donald Trump hailed General Motors Co, Harley-Davidson Inc, Intel Corp and seven other companies as innovators and job creators, predicting they would be among those producing “tens of thousands of new American jobs” and investing “billions and billions of dollars.”Nearly three years later, with unemployment at the lowest in half a century, that first presidential portfolio has stumbled to fulfill that forecast. While Trump’s 10 companies have spent billions on new factories and upgrades, they failed to keep pace with new hires, according to a Reuters analysis of the group’s capital expenditures and headcount since 2017. Collective employment at Fiat Chrysler Automobiles NV, Ford Motor Co, GM, Harley, Intel, Lockheed Martin Corp, Sprint Corp, Walmart Inc and small biotech Amicus Therapeutics has remained flat at about 2 million workers, the analysis shows. In the same period, total US employment has risen by 4.5 percent.Wall Street has not smiled extensively on Trump’s selected companies either. Most of the companies’ total shareholder return has trailed the S&P 500’s 47 percent advance and sector benchmarks since Trump’s February 2017 speech. Only four of the 10 have outperformed the broad benchmark while five have lagged the wider market by 35 points or more, as of Jan. 28. White House Deputy Press Secretary Judd Deere declined to comment about the individual companies, but noted more Americans are coming off the sidelines and finding work, and US wages and consumer confidence are rising. “Despite headwinds from severe monetary tightening and a global recession, President Trump’s agenda of fair and reciprocal trade, lower taxes and deregulation has created the strongest economy we’ve ever seen,” he added. Still, struggles within the Trump portfolio underscore how the president’s economic and immigration policies have produced uneven results as he seeks another term in the White House. Since he took office, only Fiat Chrysler and defense contractor Lockheed Martin have added a meaningful number of net new workers. Lockheed’s US headcount is up about 15 percent. Fiat’s employment is up about 11 percent, with some gains coming from broader North American operations. The net gain of jobs at the two companies is about 22,800 since the end of 2016, according to company disclosures. “What a great brand Jeep is,” Trump said in a shoutout to Fiat Chrysler’s hot-selling vehicle, before signing a tariff agreement with China. By contrast, the combined overall US headcount at Ford and GM has declined by about 10,000, or 5 percent to 184,000, despite investing billions of dollars in their automotive plants.Topics :last_img read more

APG acquires Deloitte data analytics team for sustainable investing

first_imgDutch asset manager APG is taking over the data analytics team for sustainable investing from Deloitte Nederland.APG – the investment manager for the €403bn Dutch civil service scheme ABP – said the takeover would significantly accelerate its use of artificial intelligence and big data for sustainable and responsible investing.Thirteen former Deloitte employees will work for APG in an independent business unit, the asset manager said. Their job will be to identify listed companies that make an important contribution to solutions for climate change, or for problems in healthcare and education.“The technical infrastructure and the team’s smart algorithms are fully operational and are a very good fit with APG’s current investing activities,” said the asset manager in a statement.   Ronald Wuijster, interim member of the executive board of APG Group, said: “We are constantly seeking out innovative and sustainable investment opportunities to achieve the highest possible return at the lowest possible costs.“Using the unique knowledge this team has in relation to big data and artificial intelligence will make us even better at that.”APG said it “invests fully in new technology”, in relation to investments and pension administration. It has a special team that develops algorithms using, among other things, contact history, personal data, pension details, and the online browsing behaviour of large groups of participants.“By combining this information for different target groups, it can be predicted with high reliability when they will contact the pension fund in relation to which topic,” said APG. “These insights are used to proactively approach the pension fund participants, but also to communicate more efficiently and effectively with the participants.”Last year APG and PGGM completed a prototype of a blockchain-driven pension administration system. ABP has aimed to allocate €58bn to sustainability investments by 2020. These are investments in companies, deals or projects that provide “solutions to sustainability challenges”, guided by the UN Sustainable Development Goals.last_img read more

ECB signals end to QE but interest rates to stay low

first_imgThe European Central Bank (ECB) has signalled its intention to end its €2.4trn bond-buying programme at the end of this year.However, in an announcement deemed by some investors as surprisingly dovish, the central bank indicated that it could keep interest rates at their current ultra-low levels until well into 2019.Speaking in Latvia yesterday, ECB president Mario Draghi said the bank would halve the monthly value of assets purchased through its quantitative easing (QE) programme for the last three months of this year, from €30bn to €15bn.As long as inflation remained within its desired range, the ECB said it would cease buying new assets at the end of December. Source: ECBECB president Mario Draghi (second right) addresses media in Riga on 14 JuneThe ECB planned to keep reinvesting the proceeds from maturing bonds purchased through QE “for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation”, it said in a statement yesterday.Draghi told journalists gathered in the Latvian capital Riga that “significant monetary policy stimulus” was still necessary to support prices and inflation.He added that the ECB “stands ready to adjust all of its instruments as appropriate” to meet its inflation target of close to 2%.‘Unnecessarily dovish’Nick Peters, multi-asset portfolio manager at Fidelity International, argued that the cautious tone was “unnecessary”.While the end to QE was expected by markets, he said the bank’s decision to commit to not hike rates until later in 2019 was “surprising” given that inflation forecasts indicated that the bank’s target was in sight.“Second, extrapolating the steady fall in unemployment the euro-zone has now enjoyed for many years, the [unemployment] rate will be back at 2007’s low levels by the time the ECB hikes for the first time this cycle,” Peters added.“The slowing in euro-zone data at the start of this year is clear, but this feels like an overreaction from a central bank that we would expect to remain a steady hand with a medium-term outlook.”Salman Ahmed, chief investment strategist at Lombard Odier Investment Managers, described the comments as “firmly dovish”, despite the reduction in stimulus.“The still quite dovish ECB should also further help European risky assets which had seen risk premia rise on the back of developments in Italy,” Ahmed said. “All in all, global liquidity is moving towards a more tightening stance but the ECB is playing its role in trying to ensure that the journey remains gradual and anchored.”Currency movementsThe euro was likely to weaken against the dollar, according to Larry Hatheway, chief economist at Swiss asset manager GAM, based on the contrast between the Federal Reserve’s plan to raise interest rates twice more by the end of this year, and the ECB’s more conservative stance.David Riley, chief investment strategist at BlueBay, added: “The euro is understandably weakening against the dollar with the Fed ever more confident in the economic outlook and the need to raise interest rates, and the ECB that remains cautious about removing its extraordinary monetary support.“European government bonds will stay very low, anchored by a negative ECB deposit rate, while growth-sensitive assets will be supported by continued ultra-easy monetary policy.”  The Euro Stoxx 50 index closed 1.4% higher last night, while German 10-year Bund yields up 0.5% during the day at 6pm UK time on Thursday. Asset managers were surprised by the tone of the president’s comments, however, as he spoke of keeping interest rates low at least through the summer of 2019.last_img read more

Hundreds turn out for pre-Easter auctions

first_imgThe Hamptons style kitchen has a butler’s pantry and can be accessed directly from the garage.The winning bidders were a local family with three young children who were on holiday interstate and bidding by phone.Also in Saturday auction results, Place Sunnybank sold 12 Alfred Circuit Calamvale under the hammer for $870,000 with eight registered bidders and a crowd of around 90 people attending.While luxury car dealer Brad Emmerson’s five-bedroom property at 11 Eblin Drive, Hamilton is still on the market after being passed-in at auction. Ray White Sherwood-Graceville took 51 Brisbane Corso, Fairfield to auction with more than 40 people standing around this pool to see it sell under the hammer on Saturday.The property had been fully renovated by Queensland construction baron Bob Beech, who bought the flood-affected house in 2012. >>>FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK<<< The brand new house at 31 Agincourt St, Grange that sold at auction on Saturday.Eight local families led an emotional non-stop 40-minute auction, which started with an opening bid of $1 million.The five-bedroom property on 607sq m reached its $1.79 million reserve, at which point two bidders dug in, offering $500 rises all the way to the winning bid of $1,820,500. The property was bought by developers in May last year for $705,000 and this new house was built.“It was quite emotional for the under bidders,” Ray White Wilston principal Alistair Macmillan said.“They loved the house, there was a lot of emotional attachment with the bidders and the auction took every bit of 40 minutes.” Saturday’s auctions included 51 Brisbane Corso, Fairfield, where the house and this view sold for $3.15 million.TWO hundred people saw a new suburb record set in Brisbane’s north while on the river, a renovated waterfront home sold under the hammer for $3.15 million, in a pre-Easter auction surge on the weekend.Of the 69 properties that went to auction across the city, 51 Brisbane Corso, Fairfield, was among the prestige offerings.center_img After knocking out a counter bid, the auction was paused at $2.9 million with Ms Shields, representing a family of five from Brisbane’s western suburbs, in the lead.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoAlmost 20 minutes later, Mr Parker returned with a gavel in hand to announce that Ms Shields had increased the bid to $3.15 million, and the house was on the market. No further bids were received and the property sold.“I came in just below budget,” Ms Shields said.“You never know how things are going to go at an auction.” MORE REAL ESTATE STORIES There is a stunning view from the master bedroom that takes up the whole third level.The five bidders hoping to move in were young couples and families from outside Brisbane, Sydney, and within the city.With two reaches of the Brisbane River as a backdrop, and an audience of more than 40, Ray White auctioneer Phil Parker, himself a Brisbane Corso resident, opened the auction.Energetic bidding in $100,000 lots began almost immediately, with buyer’s agent Belinda Shields joining as an active bidder at $2.8 million.MORE: WOULD YOU SELL YOUR HOUSE AT AUCTION? CHECK OUT THE OPTIONS Less than an hour later in the inner-northern suburb of Grange, a crowd of 200 saw the newly built 31 Agincourt St set a new suburb record for a property under 800sq m.last_img read more

United Rebel Sprint Series primed for Dodge City Raceway Park 305 Nationals

first_imgThis year’s event fires off with the first of two preliminary events on Thursday, June 13, with a second round of preliminary action on Friday before culminating with Saturday’s championship finale.  Set for a $3,000-to-win event that could potentially climb to as much as $4,500 with lap money included is set for this Thursday through Saturday night, June 13-15, atop the 3/8-mile clay oval in southwest Kansas.  Martens has already picked up one URSS victory thus far this season while track regular Luke Cranston has won two events, both at Dodge City. Also picking up series victories this season are Jason Martin and two-time and defending tour champion Zach Blurton.    Sprint car veteran Kevin Ramey of Fort Worth, Texas, took home the victory in the inaugural version of the DCRP 305 Sprint Car Nationals back in 2017, while Fairview, Okla.’s Jake Martens pocketed $4,040 including lap money by fending off a last-lap slider from Jake Bubak and then beating Chad Koch to the stripe in last year’s championship feature finale.   Joining the Rebels for this huge event will be the Precise Racing Products DCRP Sprint Cars as well as the Sprint Series of Oklahoma presented by Smiley’s Racing Products.   Tickets to the Thursday and Friday preliminary events are $12 for each night with Saturday’s finale $20 while children eleven and under are free each night. Pit passes are $30 for each night.center_img By David Smith, Jr./OKTidbits  Holiday Inn Express & Suites Dodge City located at 201 4th Avenue is the official lodging partner of Dodge City Raceway Park.  Race fans staying at the Holiday Inn & Suites Dodge City will want to request the special DCRP rate for their visit when making reservations. Contact the Holiday Inn Express at 620-225-1000. Each night of racing will fire off at 7:30 p.m.  DODGE CITY, Kan. – It’s time for a huge three nights of racing action beginning this Thursday night for the POWRi Lucas Oil United Rebel Sprint Series as they once again partake in the third annual Lubbock Wrecker DCRP 305 Sprint Car Nationals at Dodge City Raceway Park.   read more

10-year sponsor Classic provides Deery trophies

first_imgFORT WAYNE, Ind. – Ten-year IMCA sponsor Classic Trophy has a visible role in the Deery Brothers Summer Series awards program again this season.The Fort Wayne, Ind., company provides the familiar trophy given to the winner of each IMCA Late Model tour event.Also continued are 10 percent discounts on orders from sanctioned tracks that didn’t purchase Classic in 2016.More information is available at the www.trophiesandshirts.com website, on Facebook or by calling 260 483-1161.“A decade of working with someone is a pretty solid milestone,” noted IMCA Marketing Director Kevin Yoder, “and continuing to offer our members some great awards at specials throughout the year as well as at the IMCA Speedway Motors Super Nationals fueled by Casey’s is also something we’re proud to do through our relationship with Classic Trophy.”last_img read more

Gladys L. Frye April 15, 1934 – January 25, 2019

first_imgGladys L. Frye, age 84 of Ross, Ohio formally of Brookville, Indiana passed away Friday, January 25, 2019 in Hamilton, Ohio. Born April 15, 1934 in Carvo, Virginia the daughter of James and Virginia (Childress) Lawson.Gladys worked for Campbell Hausfeld for over 28 years retiring in 1999.Survived by her children Ken (Debbie) Frye of Ross, Ohio and Penny (Darrell) Haas of Brookville, Indiana. Grandmother of seven, great grandmother of 17 and great great grandmother of one. Sister of George (Thelma) Lawson of Florida.Preceded in death by her parents James and Virginia Lawson and sibling Dorothy Abbott, Bill Jones, Martin Jones, Tommy Lawson and Earl Lawson.Visitation will be held Wednesday, January 30 from 11:00 A.M. until time of funeral services at 2:00 P.M. with Pastor Scott Miller officiating all at Jackman Hensley Funeral Home 215 Broadway Street Harrison, Ohio 45030. Burial will follow at Big Cedar Cemetery Brookville, Indiana.Memorials maybe directed to Hospice of Hamilton and or Kidney Foundation c/o the funeral home.last_img read more

Gun-toting Homeowner and “Mob Victim” Shreds CNN’s Chris Cuomo

first_imgThe St. Louis attorney who, along with his wife, who confronted Back Lives Matter protesters says the only thing that kept the “mobsters” at bay was the fact that the couple brandished guns. He got into it with CNN’s Chris Cuomo armed with his intelligence and came out the victor.“I believe in my heart of hearts that the only thing that kept those mobsters, that crowd, away from us is that we were standing there with guns,” Mark McCloskey, 63, recently was quoted saying. He also said he was a victim of terrorism.“If I was in the same situation, I’d do it all again,” the lawyer said in an interview at their mansion. “The bottom line was, I was there to protect my family and my house and myself.”Mark insisted the safety mechanisms on his AR-15 and his wife’s handgun were on when they confronted the group. He declined to say if either weapon was loaded.He said one protester called him by name and that another man kept getting closer “trying to look intimidating.”“I’m not a mind reader but he gave every impression of being there for assault purposes and to be physically threatening,” Mark said. “It got to the point where I was concerned that I might actually have to shoot.”Patricia said she called 911 but that cops never showed up. Her husband said he didn’t blame police because they are “underfunded, understaffed, overwhelmed.”The couple said that while they have heard from supporters, they also have been inundated with threats.“‘We’re gonna burn your house, this is gonna be my bedroom, my living room and bathroom after you’re dead,’” Mark cited as an example.last_img read more

Total is New AFCON, CHAN Sponsor

first_img*Agrees eight-year CAF dealAfrican football’s top club and national team competitions are to be sponsored by French oil and gas company Total, the Confederation of African Football (CAF) announced on Thursday.CAF said Total would take over from mobile phone company Orange as headline sponsor of its 10 competitions for the next eight years, starting with the African Nations Cup in Gabon in January.The value of the sponsorship deal was not disclosed but CAF hopes it will provide the impetus to develop football on the continent. “This partnership is a major milestone in our ongoing search for additional resources to accelerate African football’s development, bring its governance up to date, upgrade its sports infrastructure and advance its performance globally,” CAF president Issa Hayatou said in a statement.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Europa League fixtures.

Everton make their first appearance in the Europa League since 2010 this evening.They’re at home to German side Wolfsburg in their Group H opener.Before that, Tottenham start their Group C campaign in Serbia against Partizan Belgrade. And Celtic begin at Austrian side Salzburg, after missing out on the group stages of the Champions League.