US construction spending up a strong 14 per cent in October

first_imgWASHINGTON – U.S. construction spending surged 1.4 per cent in October, the best gain in five months, with all major categories of building posting gains.The October spending increase was the third monthly gain after more modest advances of 0.3 per cent in September and 0.5 per cent in August, the Commerce Department said Friday.Home building was up 0.4 per cent, with strength in single-family construction offsetting a drop in apartment building. Nonresidential construction rose 0.9 per cent after four straight declines. Spending on government projects jumped 3.9 per cent, the biggest one-month gain in three years, with spending at the federal and state and local levels all showing increases.Though home building has been weak for much of the year, economists expect such construction to rebound as a strong job market boosts sales in coming months.The overall economy grew at a healthy annual rate of 3.3 per cent in the July-September quarter, the best showing in three years, even though residential construction declined for a second straight quarter. But economists remain optimistic that the low level of unemployment — 4.1 per cent in October — will spark a sustained rebound in sales and construction.The strength in October was evident in all major sectors of construction. The rise in housing construction reflected a 0.3 per cent gain in single-family homes, which offset a 1.6 per cent drop in the smaller apartment category.In the non-residential area, office building was up a strong 4.4 per cent, and hotel construction rose 2.3 per cent. Those gains offset a 1.9 per cent fall in the category that covers shopping centres.In government categories, spending at the state and local level rose 3.3 per cent, while spending on federal projects jumped 11.1 per cent.last_img read more

Loonie recovers following dovish interest rate hike Dow soars past 26000

first_imgTORONTO – The loonie rebounded from its earlier losses following the Bank of Canada’s dovish interest rate hike announcement Wednesday, as Wall Street soared to new highs.The Canadian dollar closed at an average trading value of 80.48 cents US, down 0.04 of a U.S. cent, recovering from greater losses earlier in the session after the central bank said it would raise its key interest rate target by a quarter of a percentage point to 1.25 per cent.While the rate hike was widely expected, investors were initially taken aback by the central bank’s cautious tone about future rate hikes.“Typically when markets are uncertain, a rate hike will lead to a stronger loonie. But in this case the rate hike itself was already reflected in market prices … so the real question on investors’ minds was would the Bank of Canada provide more hawkish guidance about future rate hikes?” said Todd Mattina, a chief economist at Mackenzie Investments.“In this case the Bank of Canada highlighted a number of reasons why it would be cautious going forward, which led to the market seeing it as a dovish rate hike.”While the central bank signalled more rate increases are likely over time, it noted the unknowns surrounding the future of the North American Free Trade Agreement — and the potential negatives for Canada — were casting a widening shadow over its outlook.The bank said “some continued monetary policy accommodation will likely be needed” to keep the economy operating close to its full potential.The central bank pointed to unexpectedly solid economic numbers as key drivers behind its decision to hike the rate to 1.25 per cent, up from one per cent. The increase followed hikes in July and September.In equity markets, U.S. stocks moved broadly higher, as the Dow Jones industrial average surged 322.79 points to 26,115.65, closing above 26,000 for the first time. The S&P 500 index was up 26.14 points to 2,802.56 and the Nasdaq composite index was up 74.59 points to 7,298.28.With Wall Street reaching records so often, 1,000-point moves in the Dow have become increasingly commonplace. It’s been just eight trading days since the Dow had its first close above 25,000.Technology and health-care companies accounted for much of the U.S. gains.North of the border, it was a fairly muted day on the S&P/TSX composite index, which rose a modest 27.82 points to 16,326.70, with the health-care, base metals and energy sectors among key advancers.“The TSX is underperforming the U.S. markets,” said Mattina. “It’s really a story of the stronger U.S. marketplace and a bit of a trickle down effect for the TSX.”In commodities, the February crude contract was up 24 cents to US$63.97 per barrel and the February natural gas contract added 10 cents to US$3.23 per mmBTU.The February gold contract was up US$2.10 cents to US$1,339.20 an ounce and the March copper contract was down three cents to US$3.19 a pound.– With a file from The Associated Press.Follow @DaveHTO on Twitter.last_img read more

Depression drives bizman to end life

first_imgGreater Noida: A 40-year-old businessman allegedly committed suicide inside his flat in Assotech society in Zeta-1 sector of Greater Noida on Monday morning. Police have not received any suicide note from the spot.According to police, the deceased has been identified as Ravindra Malik, a native of Panipat district in Haryana. Cops said that Malik, owner of a polyethete bags manufacturing company in sector Ecotech-III of Greater Noida, was living in flat number ST-013 along with his family. However, he was alone at his house when he committed suicide as the family had gone to native place in Panipat. Also Read – Bangla Sahib Gurudwara bans use of all types of plastic itemsPolice said that the body was first spotted by Malik’s wife and his father-in-law on Monday morning. “A Police control room(PCR) call was received around 8:50 am on Monday by Malik’s wife who returned home from Panipat along with her father. As she came back home, she found the door locked from inside. Even after making repeated attempts when no one responded from inside the house, she alerted the security guards of society. The guards broke open the door and found Malik hanging with the ceiling fan inside his room. Immediately they alerted police and a team rushed to the spot,” said Jitendra Kumar Tripathi, Station in-charge of Industrial area police station in Surajpur. Also Read – After eight years, businessman arrested for kidnap & murderPolice said that Malik took the extreme step under mental depression. “Victim’s family members told police that he was under extreme metal stress from past few months while he also suffered a loss in his business and was under huge debts. As of now we have not received any complaint into the matter while the body was handed over to family members after getting the postmortem done,” added Tripathi. Malik is survived by his wife and two teenaged children.last_img read more

Mayawati calls Congress BJP birds of same feather

first_imgLucknow: Bahujan Samaj Party supremo Mayawati on Wednesday hit out at the ruling BJP and the Congress for their ‘garibi hatao’ promise calling it a bluff. She accused both of the parties of being “birds of the same feather” who betray people, despite such eradicate poverty slogans which comes to nothing after the votes are over. Mayawati said: “Ruling BJP calling Congress slogan of Garibi Hatao 2.0 a bluff, is true. “But is poll bluff and reneging of poll promises the sole domain of the BJP?” Also Read – India gets first tranche of Swiss bank a/c details “In fact BJP and Congress party are both birds of the same feather. They betraying the interests of the poor, labourers, farmers and others,” Mayawati tweeted. The Dalit leader’s remarks came after the ruling BJP described Congress’ minimum income scheme ‘NYAY’ announced by party chief Rahul Gandhi for elimination of poverty a “bluff”. Gandhi had on Monday announced to give Rs 72,000 per annum to 25 crore poor families of the country. The BSP, which had earlier announced no alliance with the Congress across the country is fighting the 2019 elections along with the Samajwadi Party (SP) and the Rashtriya Lok Dal (RLD). Also Read – Tourists to be allowed in J&K from Thursday The BSP, which scored a nil in the 2014 elections is contesting on 38 out of 80 seats in Uttar Pradesh. The SP which won five seats is contesting on 37 and it’s other alliance partner, the RLD is contesting on three seats. The SP-BSP-RLD alliance has left two seats of Amethi and Rae Bareli for the Congress in the state. The BJP-led NDA had won 73 seats from Uttar Pradesh in 2014. The seven phased Lok Sabha polls are scheduled from April 11 to May 19. Counting of votes will take place on May 23.last_img read more

Kolkata Police uses mankading fiasco to spread message of road safety

first_imgKolkata: Kolkata Police has used the recent ‘mankad’ episode in the ongoing Indian Premier League (IPL) to deliver the message of road safety awareness through their Facebook page.Kings XI Punjab skipper Ravichandran Ashwin had ‘mankaded’ Jos Buttler of Rajasthan Royals at the Sawai Mansingh Stadium in Jaipur on Monday, which has been evoking divided opinions among the cricket fraternity on social media. The “mankading” dismissal followed a batting collapse as the Rajasthan team collapsed from 108 for 1 to 170 all out and lost the match by 14 runs. It may be mentioned that Buttler was in a destructive mood during the match and had contributed 69 runs off 43 balls before being dismissed. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari PujaKolkata Police has clubbed the picture of Buttler’s dismissal along with a photo which showed a car crossing the stop line on the road, with a statement which reads: “Whether crease or road, you will regret if you cross the line (crease a hok ba rastay, aage perole postay).” “Social media has always been an effective tool for us in creating awareness about road safety and security as the young generation is very active on the social networking sites. These creative ideas have a good impact on them as comments and shares have been flooding our Facebook page,” a senior official of KP’s Traffic department said. Also Read – Bengal civic volunteer dies in road mishap on national highwayThis is, however, not the first time when KP has used action from the cricket field to strengthen their campaign of traffic safety. When Cheteshwar Pujara scored a ton at Adelaide against Australia in December 2018, KP had used his century celebration picture and clubbed it with a picture of a person wearing seat belt while driving his car. The picture had “Defense should be like Pujara,” written on it. The Jaipur Police had used the image of Jasprit Bumrah bowling a no-ball to Fakhar Zaman on a billboard as a means of traffic awareness in 2017. The caption of the picture read: “Don’t cross the line. You know it can be costly.” This, however, didn’t go down well with Bumrah, who had criticised Jaipur Police for the same.last_img read more

SC inhouse committee report clearing CJI should be made public ExInformation Commissioner

first_imgNew Delhi: Former Information Commissioner Sridhar Acharyulu has advocated making public the report of the Supreme Court’s in-house inquiry committee which looked into the allegations of sexual harassment levelled against the Chief Justice of India by a former woman employee of the apex court, saying the decision to withhold the finding “appears to have no reason or legal base”. “The people of this country are informed that the in-house committee of Supreme Court consisting of three judges has cleared Chief Justice of India Ranjan Gogoi of sexual harassment allegations raised by a former employee claiming ‘no substance’ in the complaint,” he said. According to the CJI and other dignitaries, there is a “larger conspiracy” behind this allegation, Acharyulu said. “…public interest gives rise to a right of public to know and hence the report should have been made public after redacting the details if need not be disclosed, especially in complaints like sexual harassment,” he said. The three-member committee had on Monday given clean chit to Chief Justice Ranjan Gogoi, saying it “found no substance” in the allegations. The apex court administration later said the report “is not liable to be made public”, citing the verdict in the 2003 case of Indira Jaising vs Supreme Court of India. Acharyulu said, “As per Indira Jaising order, the enquiry into Mysore incident was informal and only to gather some information from colleague judges, but in this case, it is a statutorily mandated inquiry and it is not opinion collection or information gathering.” The former Information Commissioner said the publication of the report, under any stretch of imagination, cannot impede the inquiry or prosecution or apprehension of any accused or any other person in this case and cannot be withheld from the Right to Information (RTI) Act. “When a judgement given by the courts in a rape case could be made public without mentioning the name of the victim, with all details of examination of witnesses, and their cross examination, prohibiting the report of an internal inquiry committee appears to have no reason or legal base,” he said. Immediately after the office of apex court’s Secretary General came out with the findings of the committee on Monday, the woman issued a press statement saying that she was “highly disappointed and dejected”. “The in-house committee has found no substance in the allegations contained in the complaint dated April 19, 2019 of a former employee of the Supreme Court of India. Please take note that in case of Indira Jaising vs Supreme Court of India and Anr (2003), it has been held that the report of a committee constituted as a part of the In-House Procedure is not liable to be made public,” the notice said.last_img read more

WhackAMole Buckeyes pound Golden Gophers to remain undefeated

Last Tuesday’s win over Iowa was the 110th in the career of Ohio State forward David Lighty, tied for the most in school history. Sunday, with his team trying to hold off a furious comeback from visiting Minnesota, Lighty fouled out with two-and-a-half minutes remaining in the game. Now relegated to the bench, the fifth-year senior could only watch as his teammates tried to clinch his record-breaking victory. It was “the most nervous I’ve probably ever been because I can’t do anything about it,” Lighty said. “I can’t get back in the game to help my team win.” When junior William Buford blocked a potential game-tying shot as time expired, the No. 2 Buckeyes (16-0, 3-0 Big Ten) sealed a 67-64 victory, despite nearly blowing an 18-point, second-half lead. Lighty finished with a game-high 19 points. As is often the case in the Big Ten, the game featured a slow, bruising pace for most of the afternoon. Both teams had stretches in which they struggled to score and both committed a lot of fouls, combining for 44 overall. After finishing his third conference game of the year, freshman Jared Sullinger said he’s learned a lot about what it takes to succeed in the Big Ten. “For me, it’s physicality,” Sullinger said. “It’s real physical down in the paint and the refs just look at you like, ‘Uh, this is the Big Ten,’ so I’ve learned that you have to be physical.” Early on it was hustle, not physicality, that Sullinger used to spark OSU. Midway through the first half, Sullinger dove to the floor on the defensive end to force a jump-ball. Although Minnesota retained possession, it left the Gophers with little time on the shot clock and forced them to take, and miss, a contested, low-percentage shot. More importantly, Sullinger’s play ignited the near-capacity crowd at the Schottenstein Center for the first time all afternoon, and the Buckeyes responded. Starting with a 3-pointer from Buford on the ensuing possession, OSU went on a 10-0 run, culminating with a 3-pointer from freshman Aaron Craft. The Buckeyes opened up a 12-point lead and eventually went to the break up 10. The Gophers cut the lead to eight with just more than 11 minutes to go. But 3-pointers from both Craft and senior Jon Diebler, coupled with two from Lighty, sent the Buckeyes on a 12-2 run. The run gave OSU a 16-point lead, its biggest of the game. However, the Gophers answered with a run of their own, cutting the lead to seven with less than six minutes to play. Several Buckeye turnovers and missed free throws, to go along with Gopher baskets down the stretch, shrunk the OSU lead to just four with less than two minutes to go. An Al Nolen 3-point play with a minute to go cut the lead to three. Senior Dallas Lauderdale then missed two free throws, giving the Gophers possession with a chance to tie the game. “One thing happens on one end and you can’t run to the other end and compound the mistake,” coach Thad Matta said of his team’s struggles down the stretch. “We’ve got to continue to look and learn and make sure our execution should be at an all-time high.” On the final possession, when the Buckeyes most needed a stop, the execution was just as the coach wanted. Lauderdale denied Minnesota’s Blake Hoffarber the ball, forcing freshman Austin Hollins to take the desperation 3-point shot, which Buford blocked to preserve the win. “I was about as proud as I could be of our defense for probably the first 32 minutes of the game,” Matta said. “There were a couple plays that happened and really, really turned the momentum, and we have to be tougher and play through that.” Forward Trevor Mbakwe led the Gophers with 16 points, but several Gophers made big shots down the stretch. Minnesota made all 19 of its free throw attempts in the second half, and finished 24-27 from the line overall. It was one of the few times all year that the Buckeyes have been challenged down to the wire, but despite not executing to perfection, Lighty said he was happy with the perseverance his team showed. “It got a little hectic and we just had to keep our heads,” Lighty said. “Things didn’t go our way, but we stuck in there and found a way to win.” Sullinger finished the game with 15 points and 12 rebounds, his eighth double-double of the season. Craft, who played 34 minutes off the bench, finished with 11 points and a team-high seven assists. The Buckeyes will travel to Ann Arbor, Mich., to play Michigan at 6:30 p.m. Wednesday. read more

United sign City youngster

first_imgManchester United have signed teenage youngster Reece Divine from rivals Manchester City, according to Manchester Evening News.United who are champions of England at U-18 level have added two more youngsters to the squad as they look to defend their title. Reece has made the switch from blue-half of Manchester to sign for the red-half ahead of the new campaign. The 16-year-old joined signed for Manchester United on a free after he was released by rivals City.Divine isn’t the only recruit to have joined United’s U-18 after the club also confirmed that right winger Connor Stanley has joined the team as a first-year scholar from Birmingham.The pair join a list of other players who have also signed for United as the team prepare for the upcoming season which starts on August 10.Harry Maguire, Manchester UnitedSolskjaer praises Harry Maguire after Man United’s 1-0 win Andrew Smyth – September 14, 2019 Ole Gunnar Solskjaer singled out Harry Maguire for praise after helping Manchester United keep a clean sheet in their 1-0 win over Leicester City.The signings show the progress made by United’s Head of Academy Nicky Butt as he seeks to improve the stream to young players entering the first team. Butt has been credited for bringing youngsters Tahith Chong and Joshua Bohui to the club, both players were part of the Manchester United first team that travelled to United States for preseason training.last_img read more

Benitez admits Newcastles implosion at Old Trafford

first_imgNewcastle United boss Rafael Benitez has admitted the team imploded at Old Trafford after losing a two-goal lead to Manchester United.The Magpies netted two goals in the first ten minutes of the game to silence Old Trafford thanks to Kenedy and Yoshinori Muto.However, Juan Mata curled home a free-kick to spark a come back that brought about Anthony Martial’s equalizer before Alexis Sanchez sealed the victory with a header late in the game.Benitez said: “As a team, we did so well. It is a pity because, for 70 minutes, the organization and determination of the team was so good. It’s just a pity that, in the end, we lost against a very good team,” said Rafa quoted by The Northern Echo.Roberto Firmino, LiverpoolVirgil van Dijk praises Roberto Firmino after Liverpool’s win Andrew Smyth – September 14, 2019 Virgil van Dijk hailed team-mate Roberto Firmino after coming off the bench to inspire Liverpool to a 3-1 comeback win against Newcastle United.“We conceded the first goal, and that changed the game. They continued pushing and pushing, and it was difficult to defend. We still had chances on the counter-attack.“We had chances in the first half to score a third goal, and chances in the second half too. We could have done a little bit better; we didn’t score. They were pushing, and they scored.“Obviously, they changed things, and they were really playing with four strikers at the same time. Their substitutions were top-class players, and it was difficult to stop, especially when you have players who are getting tired. They had fresh legs and quality, and they were very strong at the end.”The defeat leaves Newcastle in 19th position in the table, and means they have now claimed just two points from their opening eight games.last_img read more

Agbonlahor retires from football at 32

first_imgFormer Aston Villa and England striker Gabby Agbonlahor has retired from football at the age of 32 after failing to find a club.Agbonlahor who played only for Villa has been without a club since leaving the Championship side back in December 2017.He scored 86 goals in 391 appearances for Villa, while he also won three senior caps for England.“The time has come to officially retire and watch Aston Villa as a fan,” Agbonlahor posted on Instagram and cited via BBC.Harry Maguire, Manchester UnitedLiverpool legend Nicol slams Harry Maguire’s Man United form Andrew Smyth – September 14, 2019 Steve Nicol believes Harry Maguire has made some “horrendous mistakes” recently, and has failed to find his best form since joining Manchester United.“If I would have been told at school I would play nearly 400 league games, be the record Premier League goalscorer for Aston Villa, captain the great club and represent England at senior level, I would have laughed.“I want to say thank you to all the supporters, the staff I have worked with at a great club and my ex-team-mates.“The thought of playing for another team or playing against Aston Villa was something I just couldn’t do. I look forward to whatever the future holds.”Agbonlahor was a key part of the Villa team that finished runners-up to Manchester United in the 2010 League Cup final.TELFORD, ENGLAND – JULY 12: Shane Sutton of AFC Telford United competes with Gabriel Agbonlahor of Aston Villa during the Pre-Season Friendly between AFC Telford United and Aston Villa at New Bucks Head Stadium on July 12, 2017, in Telford, England. (Photo by Malcolm Couzens/Getty Images)last_img read more