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Democrats face uphill fight if Trump gets second U.S. high court pick

WASHINGTON ( ) – If Democrats thought it was hard to stop President Donald Trump’s first U.S. Supreme Court nominee, it promises to be even tougher for them if he gets to fill another vacancy, potentially to replace the most influential justice, Anthony Kennedy.

Kennedy, a conservative who sometimes sides with the court’s liberals in key cases such as on gay rights and abortion, is one of three justices 78 or older. Justice Stephen Breyer is 78 and fellow liberal Ruth Bader Ginsburg is 84.

Former Kennedy Supreme Court clerks said the justice, who turns 81 in July上海夜网, may be pondering retirement either this year or in 2018.

That would give Trump a further chance to shape the court after his first nominee, Neil Gorsuch, was sworn in on Monday for the lifetime job to replace the late conservative Justice Antonin Scalia after overcoming fierce Democratic opposition in the Senate confirmation process.

Kennedy administered Gorsuch’s judicial oath at a White House ceremony, and Trump heaped praise on a justice who has spent nearly three decades on America’s top court, calling him “a great man of outstanding accomplishment.”

Gorsuch is one of Kennedy former clerks. Kennedy is planning a reunion of his clerks in June rather than next year as had been expected. Kennedy, through a court spokesman, declined to comment on his plans.

The implications for the court if Kennedy were to step down are enormous. For the past decade he been its swing vote in major cases. Gorsuch’s confirmation restored the court’s 5-4 conservative majority. If whenever Kennedy leaves the bench he is replaced by a stalwart conservative, that would move the court further to the right.

Republicans possess a 52-48 majority in the Senate. In order to secure Gorsuch’s confirmation, they voted to prohibit a procedural roadblock called a filibuster that had required a super-majority of 60 votes to allow a confirmation vote for Supreme Court nominees, leaving the minority Democrats with little ammunition for the next nomination fight.

“I think it will be very hard for Democrats to get much traction to derail a future Trump nominee without the threat of a filibuster,” George Washington University political scientist Sarah Binder said.

But Democrats and Republicans still are predicting a fierce fight over the next court vacancy.

‘I EXPECT ARMAGEDDON ‘

“For the life of me I don’t understand why the Democrats made such a fuss about this one. They look stupid,” Republican Senator Orrin Hatch said last week of Gorsuch’s nomination. “I expect Armageddon on the next one because that’s going to change, assuming Trump gets another one, the direction of the court. It would certainly keep the court in a more conservative mode for a long time.”

A Democratic congressional aide added, “The opposition to Gorsuch could look weak compared to what a similarly conservative nominee would face, if it would tip the balance on the court.”

Kennedy is the longest-serving of the nine justices. He was nominated by Republican President Ronald Reagan in 1987 and confirmed by the Senate in 1988 after Democrats thwarted Reagan’s first choice, outspoken conservative Robert Bork, and his second pick, Douglas Ginsburg, withdrew from consideration.

Although he has sided with his conservative colleagues on many issues, Kennedy has supported liberal causes such as gay rights, culminating in writing the landmark 2015 ruling legalizing same-sex marriage nationwide.

He also joined the liberals in upholding abortion rights. In 2016, Kennedy joined the court’s four liberal justices in a ruling striking down a Texas abortion law imposing strict regulations on doctors and facilities in the strongest endorsement of U.S. abortion rights in more than two decades.

He also authored a 2016 ruling upholding the consideration of race in college admissions, joined by the court’s liberals.

University of Georgia School of Law professor Lori Ringhand said Republicans may be wary of defending an extremely conservative court nominee with the midterm congressional elections coming up in 2018, if another vacancy arises.

“It’s not clear it would be to the electoral advantage to Republicans to have a hotly contested Supreme Court nomination right before the midterms that highlighted a nominee’s extremely conservative positions on social issues that the majority of the public have actually accepted,” Ringhand said.

House reauthorizes Iran sanctions bill, sets Syria sanctions

WASHINGTON ( ) – U.S. lawmakers passed bills on Tuesday renewing sanctions on Iran for 10 years and imposing new sanctions on Syria, underscoring their determination to play a strong role in Middle East policy no matter who occupies the White House.

The House of Representatives voted 419 to one for a 10-year reauthorization of the Iran Sanctions Act, or ISA, a law first adopted in 1996 to punish investments in Iran’s energy industry and deter Iran’s pursuit of nuclear weapons.

The House also passed by voice vote a bill that would sanction the government of Syria, and supporters including Russia and Iran, for war crimes and crimes against humanity.

The Iran measure will expire at the end of 2016 if it is not renewed. It must still be passed by the Senate and signed by President Barack Obama in order to become law.

The Obama administration and other world powers reached an agreement last year in which Tehran agreed to curb its nuclear program in exchange for sanctions relief.

But lawmakers said they wanted the ISA to stay in effect to send a strong message that the United States will respond to provocations by Iran and give any U.S. president the ability to quickly reinstate sanctions if Tehran violated the nuclear agreement.

“Even after a hard-fought election here at home and power changing hands, American leadership on the global stage won’t falter,” said Representative Eliot Engel, the top Democrat on the House Foreign Affairs Committee, a bill sponsor.

Republican Representative Ed Royce, chairman of the Foreign Affairs Committee, the bill’s lead sponsor, called the ISA “a critical tool.”

“Its expiration would compound the damage done by the pre上海夜生活网sident’s dangerous nuclear deal and send a message that the United States will no longer oppose the destructive role of Iran in the Middle East,” said Royce.

The vote took place one week after Republican Donald Trump was elected U.S. president. Congressional Republicans unanimously opposed the nuclear deal, along with about two dozen Democrats, and Trump has also strongly criticized it.

Lawmakers from both parties said they hoped bipartisan support for a tough line against Iran would continue under the new president.

There was no immediate word from Senate leaders on when the ISA and the Syria measure might be taken up in that chamber.

Many Senate Democrats favor a “clean” renewal of the ISA, like the one that passed in the House. But other lawmakers have pushed to add new sanctions such as some specifically targeting Iran’s ballistic missile tests.

MONEY MARKETS-U.S.-China trade war lifts bets on U.S. rate cut

(Adds graphic, Fed’s Rosengren comments in interview)

By Richard Leong

NEW YORK, May 13 ( ) – Interest rate traders increased their bets the U.S. Federal Reserve would lower interest rates by year-end to counter a domestic economic slowdown stemming from an escalation in the trade war between China and the United States.

The expectations of a rate decrease in December returned to the highest levels that were seen in March after Fed policy-makers signaled they would not raise rates in 2019.

On Monday, Beijing said it planned to set import tariffs ranging from 5% to 25% on 5,140 U.S. products on a revised $60-billion target list. It said the tariffs would take effect on June 1.

China’s retaliatory measure followed Washington’s tariff increase on $200 billion of Chinese imports on Friday as talks between the world’s biggest economies unexpectedly broke down. U.S. President Donald Trump has said the Chinese government backtracked on commitments it made during months of negotiations.

Analysts worry the tension between the two parties will spiral into a trade war that would harm the global economy.

“If growth concerns were coupled with a major correction in equity markets the Fed would certainly be pushed closer to cutting interest rates,” Andrew Hollenhorst, chief U.S. economist with Citigroup, wrote in a research note.

Boston Federal Reserve President Eric Rosengren told on Monday that the Fed would be able to respond to any slowdown from the U.S.-China trade dispute.

“If the impact of the tariffs – and whatever financial market reaction to those tariffs is – causes more of a slowdown, then we do have the tools available to us, including lower interest rates, not that I’m necessarily expecting this will generate the need to do that,” said Rosengren, who is a voter on the Fed’s rate-setting committee this year.

At 3:44 p.m. (1944 GMT), federal funds futures implied traders saw about a 74% chance the U.S. central bank would lower the target range on short-term rates by a quarter point to 2.00%-2.25% at its Dec. 10-11 policy meeting. This compared with a 64% implied likelihood late on Friday, according to CME Group’s FedWatch program.

A month ago, futures 上海夜生活网prices suggested traders saw a 40% likelihood of a quarter-point rate decrease.

Boeing 737 MAX jets could be grounded for weeks as black box probe to start on Ethiopia crash

WASHINGTON/PARIS/ADDIS ABABA ( ) – Boeing Co’s 737 MAX 8 and 9 planes will be grounded for weeks if not longer until a software upgrade can be tested and installed, U.S. lawmakers said on Thursday, as officials in France prepare to begin analyzing the black boxes from a jet that crashed in Ethiopia.

Boeing said it had paused deliveries of its fastest-selling 737 MAX aircraft built at its factory near Seattle but continues to produce its single-aisle jets at full speed while dealing with the worldwide fleet’s grounding.

Investigators in France will be seeking clues into Sunday’s deadly Ethiopian Airlines crash after take-off from Addis Ababa killed 157 people from 35 nations in the second such calamity involving Boeing’s plane since October.

Possible links between the accidents have rocked the aviation industry, scared passengers, and left the world上海夜生活’s biggest planemaker scrambling to prove the safety of a money-spinning model intended to be the standard for decades.

U.S. Representative Rick Larsen said after a briefing with U.S. aviation officials the software upgrade would take a few weeks to complete, and installing it on all aircraft would take “at least through April.” He said additional training would also have to take place.

Boeing has said it would roll out the software improvement “across the 737 MAX fleet in the coming weeks.”

Relatives of the dead stormed out of a meeting with Ethiopian Airlines on Thursday, decrying a lack of transparency, while others made the painful trip to the crash scene.

“I can’t find you! Where are you?” said one Ethiopian woman, draped in traditional white mourning shawl, as she held a framed portrait of her brother in the charred and debris-strewn field.

Related CoverageBoeing prepares for MAX 737 jets sitting outside factory as deliveries haltedAirlines wrestle with calls, cancellations after Boeing MAX fleet groundedSee more stories

After an apparent tussle over where the investigation should be held, the flight data and cockpit voice recorders were handed over to France’s Bureau of Enquiry and Analysis for Civil Aviation Safety (BEA).

Technical analysis would begin on Friday and the first conclusions could take several days, the BEA said, posting a picture of the partly crumpled, orange-cased box.

Nations around the world, including an initially reluctant United States, have suspended the 371 MAX models in operation, though airlines are largely coping by switching planes.

Nearly 5,000 MAXs are on order, meaning the financial implications are huge for the industry. Moody’s rating agency said the fallout from the crash would not immediately affect Boeing’s credit rating.

“We continue to build 737 MAX airplanes while assessing how the situation, including potential capacity constraints, will impact our production system,” Boeing spokesman Chaz Bickers said.

Boeing would maintain its production rate of 52 aircraft per month, and its newest version, the MAX, represents the lion’s share, although Boeing declined to break out exact numbers.

CONNECTION TO INDONESIA CRASH?

The investigation of Sunday’s crash has added urgency since the U.S. Federal Aviation Administration (FAA) on Wednesday grounded the 737 MAX aircraft, citing satellite data and evidence from the scene that indicated some similarities and “the possibility of a shared cause” with October’s crash in Indonesia that killed 189 people.

Though it maintains the planes are safe, Boeing has supported the FAA move. Its stock is down about 11 percent since the crash, wiping more than $26 billion off its market value. It fell 1 percent on Thursday.

U.S. and Canadian carriers wrestled with customer calls and flight cancellations and Southwest Airlines Co and American Airlines Group Inc, the largest U.S. operators of the 737 MAX, said they had started flying empty MAX aircraft to be parked elsewhere during the ban.

U.S. President Donald Trump, an aviation enthusiast with deep ties to Boeing, said he hoped the suspensions would be short. “They have to figure it out fast,” Trump told reporters at the White House.

A software fix for the 737 MAX that Boeing has been working on since the Lion Air crash in October in Indonesia will take months to complete, the FAA said on Wednesday.

And in what may presage a raft of claims, Norwegian Air has said it will seek compensation from Boeing for costs and lost revenue after grounding its fleet of 737 MAX.

Japan became the latest nation to suspend the 737 MAX planes on Thursday. And airline Garuda Indonesia said there was a possibility it would cancel its 20-strong order of 737 MAXs.

WHAT HAPPENED?

Under international rules, Ethiopians are leading the investigation but France’s BEA will conduct black box analysis as an adviser. The U.S. National Transportation Safety Board (NTSB) was also sending three investigators to assist.

Only France and the United States have the experience gleaned from being present at almost every crash involving an Airbus or Boeing respectively.

The cause of the Indonesian crash is still being investigated. A November preliminary report, before the retrieval of the cockpit voice recorder, focused on maintenance and training and the response of a Boeing anti-stall system to a recently replaced sensor, but gave no reason for the crash.

The pilot of Ethiopian Airlines Flight 302 had reported internal control problems and received permission to return, before the plane came down and burst into a fireball on arid farmland.

Preview: Juventus – Genoa

Juventus could be judging their return to form perfectly and will continue their pursuit of Serie A leaders Napoli when they host a Genoa side.

Flashscore presents the key facts before the match:

After an indifferent start, Juventus have stormed back into contention and are in a direct fight with Napoli, who are one point ahead. The depth in their squad should help the Champions stave off the injury crisis that currently engulfs them.

Genoa sit just six points above the bottom three, but have found their rhythm in recent matches. The visitors have lost just once in their last eight SA games (W4, D3, L1) and even started the new year with a 1-0 win over Sassuolo.

The hosts have been immaculate at both ends of the pitch (49 goals scored, 15 conceded) this campaign. They have kept 11 clean sheets in SA – more than any other side – and have conceded only one goal in their last 11 games in all competitions.

Their visitors have scored only 16 goals so far – the second-fewest – while drawing blanks in seven of their ten trips in SA. However, they have conceded more than one goal only once in these games (10%).

Genoa haven’t conceded in four SA games on the trot. Another clean sheet will make it the first time they have done so since 1964!Top 5 matches to watch during October’s first weekend Tomás Pavel Ibarra Meda – With a new weekend in European football about to begin, we dive into the Top 5 matches to watch across all the major leagues.After…

Key battles: In the absence of Paulo Dybala, Douglas Costa remains the top bet for Juventus. Can he fill the void?

His task will be tough against Genoa’s rock Ervin Zukanovic, who has made the most interceptions and clearances for them so far.

Stat attack: The last time Genoa won at Juventus in SA was way back in 1991, a run of 14 games without victory (L11, D3).

Missing players

Juventus: P. Dybala (muscle injury), C. Marchisio (groin injury)上海夜生活网, G. Buffon (doubtful), J. Cuadrado (doubtful), B. Howedes (doubtful)

Genoa: F. Migliore (calf injury), E. Zukanovic (suspension), G. Lapadula (doubtful).

Pardew had only words of praise for Rondon

Alan Pardew, the West Bromwich Albion head coach, insisted that he admires Salomon Rondon for his determination to finish the match despite being involved in James McCarthy’s horrific injury.

The Venezuela international had a collision with the home side midfielder in the second-half of this fixture and it caused a horrible double leg fracture for James McCarthy – Rondon fell in tears after that but he managed to finish the match somehow and in the end, he was really close to scoring the winning goal as he hit the crossbar.

The West Brom manager spoke about this incident and Rondon’s effort as he said, according to Sky Sports: “Salomon was traumatised because he probably heard a break or something, a noise that would have affected him, he’s that kind of person.  I wasn’t sure if he was going to carry on but he got himself together after being affected and, fair play to him, he was the best player on the pitch today. He was awesome for us and it was such a shame he hit the bar at the end.”Top 5 Real Madrid players who are succeeding on a loan Tomás Pavel Ibarra Meda – We need to talk about the Top 5 Real Madrid players who are currently succeeding away from the club and are currently on a…

He also added that they could have won this game at the end of the day: “It’s not often you come to Goodison Park and feel slightly disappointed. We felt we could have won that game. We played well at times, took the lead, frustrated Everton and had them where we wanted them.”

In the end, Alan Pardew claimed that he is also disappointed by McCarthy’s injury: “They only had about two or three chances in the gam上海夜生活e and they scored from one and that got them back in the game. The unsavoury incident in the game, which led to James McCarthy getting a bad injury affected everybody a little bit. I’m disappointed for the lad whose been injured but we’re also disappointed we didn’t get a result.”

Tottenham made a mistake by selling Walker

Jamie Redknapp couldn’t understand Tottenham’s decision to sell Kyle Walker to Manchester City and he claims that it was “a huge mistake” which just showed that Tottenham is “still a small club”.

Spurs have been struggling this season so far as they are, basically said, out from the title race and Jamie Redknapp thinks that the decision not to raise Walker’s salary showed that Tottenham still has got a “small-club上海夜网 mentality”. He also warned the club that the other players might have similar thoughts as Walker and they will probably want to leave as well.

The former Spurs man spoke about the situation in his old club as he said, according to Sky Sports: “Letting Kyle Walker go in the summer looks like a huge mistake. I thought it was good business at the time but now what it’s has done is set a precedent in the dressing room. It looks to me that the players know what the going rate is.”Opinion: Martin Odegaard is perfect for the Premier League Tomás Pavel Ibarra Meda – Given how much he’s been rejected by Real Madrid, we are convinced that Martin Odegaard is perfect for the Premier League.Martin Odegaard is finally…

He continued by adding that there could be a problem with the other players: “Toby Alderweireld is one of the best centre-backs in the world – why has he not signed? Go and give him whatever he deserves. Tottenham have got players anyone in the world would want, but things can quickly slip through your fingers. Once one leaves, then another one. It gives every player an out. They’ve still got a small club mentality there. It’s not changed since I was there.”

Jamie Redknapp, in the end, claimed that he understands that thinking: “These players are well aware of what the going rate is. It’s about going into the England dressing room and seeing a player that plays in your position, knowing he’s getting two or three times what you’re getting a week. It shouldn’t be like that.”

PSG officials questioned in FFP investigation

UEFA have opened an investigation on PSG over FFP regulations breach.

The investigation was started af上海夜生活网ter PSG signed Neymar from Barcelona, for €222m and committed another €180m for the transfer of Kylian Mbappe from Monaco. UEFA wants to find out how is the Parisian club looking to comply with the Financial Fair Play regulations after the massive spendings.

According to AFP, on Thursday afternoon, PSG officials were called to UEFA headquarters in order to answer some of the questions. The meeting was qualified as a “routine meeting” and took place in Nyon.

The general director of PSG, Jean-Claude Blanc and the general secretary of the club, Victoriano Meleoro were tasked by the Parisians with the responsibility of answering to UEFA’s questions. Besides Blanc and Meleoro, two other officials took part in the meeting: Philippe Boindrieux, the deputy general director and Benoit Muller, the financial director of the club.Report: Icardi opens PSG account in 0-1 win over Gala George Patchias – Mauro Icardi opened his goal-scoring account for PSG in a 0-1 away victory over Galatasaray.While Thomas Tuchel has begun to integrate Mauro Icardi into…

UEFA announced right after the opening of the investigation that “during the next months, the investigation office of the clubs’ financial control body will hold regular meetings to evaluate carefully all the documents related to this matter.”

The Financial Fair Play regulations have been enforced by Michel Platini, the former president of UEFA, in 2010. Since then, clubs that are participating in European competitions cannot have a deficit bigger than €30m over a financial period of three years. The sanctions can go all the way to withdrawing the teams’ right to participate in Champions League or Europa League.

PSG have been sanctioned before, in 2014, after a contract signed between the club and the Tourism office in Qatar, was considered overvalued by UEFA.

Dembele pushing hard for ‘El Clasico’

Ousmane Dembele is determined to get back to action in time for this year’s ‘El Clasico’.

The French forward has set himself the very ambitious goal of returning to the pitch for the Real Madrid – Barcelona match scheduled on the 23rd of December. Dembele would like to at least be on the bench for the derby, if not to start it.

The ex-Borussia Dortmund forward suffered a serious injury during his La Liga debut as a starting player for Barcelona, in the match against Getafe, in September. Initially, the medical team ruled him out for the rest of the year, but the young forward has big chances of returning before the end of the year.Valverde cools down controversies at the club Nedim Maric – Barcelona manager Ernesto Valverde spoke at the press conference ahead of Barca’s Inter clash in the second fixture of the Champions League.While Barcelona started…

Dembele cannot hit the ball yet, but it’s just a matter of days until the player will return to individual training sessions. At the moment, he is working on the physical recovery and has impressed the medical staff of Barcelona with his ambition.

Sport.es wrote about the player’s recovery: “The people working with Dembele towards his return are impressed with the player’s attitude and positive mentality, a very important aspect when going through a recovery period”.

Barcelona paid €105m for the transfer of Ousmane Dembele from Borussia Dortmund. The transfer deal also includes another €45m in different bonuses上海夜生活论坛. The French forward is seen as the perfect replacement for Neymar, who left Barcelona for PSG this summer, in a world record deal of €222m.

The new Iniesta

Gremio’s 21-year-old midfielder Arthur Melo has been linked with some of Europe’s biggest clubs, due to his vision and ability to pass the ball

21-year-old Arthur Melo’s talents in the middle of the pitch have earned him early comparisons with Barcelona icon Andres Iniesta and the youngster gained attention from some of Europe’s biggest clubs.

Melo is not famous for his goal scoring exploits or fancy tricks. Instead, his great strength lies in an uncanny ability to spot the right pass and execute plays perfectly, just like Iniesta or Mesut Ozil.

Furthermore, he also has similar physical attributes as the Barcelona idol does, and the 21-year-old is similarly capable of those startling bursts past defenders that the Spanish legend uses to shrug off the attentions of markers.

According to ESPN, Arthur is also learning how to become a more decisive presence in the opposition area.

“I’m a player who likes to have the ball at my feet, and organise play,” he explained to reporters.Ryan Giggs reflects on changing Daniel James Nedim Maric – Daniel James moved from Swansea to Manchester United in an unlikely transfer which raised many eyebrows.A jump from English second division to the senior…

The youngster admitted he and his coach are forcing the midfielder to somewhat transform into an attacking midfielder role, as he has the potential to be the main playmaker of a team.

“As a defensive midfielder I see more of the ball, further back. But as a playmaker Renato is forcing me to get into the area, reach the goal and try to score, as well as thread the ball through,” he said.

“I am also forcing myself to support the attackers and wingers. I think that is where the difference has come, I am trying to get into the area more to feed those up front.”

His potential was noticed by Premier League giants such as Manchester United, Chelsea, and Manchester City. Furthermore, the youngster has also been linked with Atletico Madrid and FC Barcelona.

Gremio, however, are unlikely to let Melo leave easily. The midfielder’s contract will only expire in January 2019, and the Brazilian side will reportedly not consider a bid lower than上海夜生活网 €10 million for the 21-year-old.

Ginola: Ronaldo still better than Kane

Former PSG midfielder David Ginola says Harry Kane can’t be compared to Cristiano Ronaldo yet

Two of the most fearsome strikers of the world are about to face each other again in Real Madrid and Tottenham Hotspur’s game at Wembley Stadium in the Champions League.

Tottenham superstar Harry Kane cannot be considered at the same level as Real Madrid superstar Cristiano Ronaldo, says David Ginola, GOAL reports.

A lot of speculations have been going around about Kane reaching the same level as the Portuguese, but former France midfielder Gionla says it’s too early to talk about Kane in such heights.

Ginola told talkSPORT: “You can’t compare Harry Kane to Ronaldo…yet.”

He thinks the two players are not even that similar, which makes it hard to draw comparisons.

“Even the qualities are not the same. Ronaldo is about pace – I’m not saying that Harry Kane is slow, but he’s not the same kind of player.”Ronaldo opens up about retirement plans Nedim Maric – Cristiano Ronaldo is still playing at a top-level even at 34 years of age.Juventus is looking to end the 23-year-old drought of not winning…

Kane’s team-mate, Jan Vertonghen spoke highly about the striker, saying he wouldn’t swap the English striker for anyone at the moment.

“Harry for me is one of the best No 9s in Europe, maybe the best. He shows that every week and I wouldn’t swap Harry for any player at the moment.”

However, there are some who disagree with Ginola’s statement. For exam上海夜生活网ple, Steffen Freund said the England striker is a natural “successor” to Ronaldo.

The ex-Spurs winger Ginola also said both players could do great under each team: “You could swap Harry Kane for Ronaldo, obviously, because Ronaldo will do some great stuff for Spurs and Harry Kane will do the same for Real Madrid.”

He said Ronaldo simply works really hard and sends the right message to upcoming prospects, inspiring them put in the work to succeed.

“But, on the other hand, Ronaldo has done so much for the game and he works so hard. All the credit to him because for the last five or six years, even more than that, since he played football, every year he is sending the right message to youngsters – if you want to stay at the top, you need to work really hard.”

Kane has outscored Ronaldo so far this season, with the Tottenham attacker having scored 13 times in just 12 matches, compared to Ronaldo’s 7 goals in 11 games.

Manchester United holds Liverpool and remains unbeaten

Even though the Reds from Anfield dominated the game for the most part, the Red Devils clinched a 0-0 draw.

The 199th edition of one of the greatest derbies in English football between Liverpool and Manchester United showed no winner. This was the first game of the Merseyside clu上海夜生活论坛b in front of their new “Kenny Dalglish Stand” and to the disappointment of all the home fans, Klopp’s team could not find the back of the net.

Liverpool’s starting XI.

Manchester United’s starting XI.Jamie Vardy hails Leicester’s 5-0 thrashing of Newcastle Andrew Smyth – Jamie Vardy was delighted as his brace helped Leicester City go third in the Premier League after a 5-0 thumping of 10-man Newcastle United.

The game started as expected with Liverpool dominating and taking the initiative from early on. United were defending deep and playing on the counter-attack, but many were surprised to see Mourinho’s team letting Liverpool take complete control over the game. Despite being disciplined and well-positioned in the back, the Red Devils were lucky to not conceive a goal after a beautiful cross by Firmino who passed it to Matip, but the defender’s effort was brilliantly saved by David de Gea. The ball went straight to Salah, but the Egypt international shot the ball wide on the follow up, wasting the Reds’ best chance to score in the first half. United’s only good chance to score a goal during the first half came after a combination between Lukaku and Martial, which left the Red Devils No. 9 in a great position as he forced a great save by his fellow countryman Mignolet. In fact, this was the only shot on target by Mourinho’s side for the first half.

The second half was no different from the first one. Klopp’s men were trying their best to find a goal, while United were comfortable playing on the back. The home team struggled to create a good chance due to United’s organized defense. However, in the 57th minute Emre Can had a great opportunity to open the score after a chip ball from Gomez, but the midfielder sent the ball over the crossbar from only a few meters away from the goal. Liverpool kept pushing until the last minute, but Mourinho’s side managed to fend off their attempts, sealing a hard fought point an remaining on top of the table as of now.

Manchester City, who are playing later today, have the chance to become the leaders of the table as they take on Stoke City at home today.

You can find live commentary and full statistics of the game below.

Barcelona ready to pay huge sign-on fee for Messi

The Catalans want to make sure that their star man will sign a new deal with the club and are prepared to pay him a huge amount.

Besides the €550k/week wages that Barcelona are proposing to Messi, they are also ready to pay a €90m bonus to the Argentinian for the signing of a new deal, according to Daily Mail. This would be a record breaking signing-on fee.

Barcelona are thought to be lookin上海夜生活网g to sell the naming rights of their stadium, Camp Nou, which is set to undergo major renovations. The Catalans are looking to rename the stadium as early as next season, hoping that the funds attracted will help ease the burden of the wages. Reports suggest that Barcelona would be looking to raise around €200m for selling the naming rights of the stadium for the next 25 years.Pique sends a warning message to the board after Barcelona scrape the win against… Nedim Maric – The turmoil at the beginning of the season caused a lot of concerns at Barcelona.Shaky start of the season for Barca saw them get…

In a report published by L’Ara, it was claimed that Barcelona’s current wage expenditure of €450m represents a staggering 84% of the total revenue of the club.

In addition to the naming rights, Barcelona would also like to make use of their situation with the kit supplier. Nike are set to make the Catalans a new offer to extend the current deal and a new agreement could be announced next year.

With Barcelona having achieved direct qualification to next year’s World Cup in Russia, Messi’s schedule will now allow space for a potential official announcement about his new deal with the Catalans.

Klopp confident in his squad

The German tactician believes Liverpool will be able to challenge for the title this year.

Jürgen Klopp thinks Liverpool will play for the championship in the upcoming 2017-18 as they seek to end a period of 27 years with no English title.

Since Liverpool last won the league, they have been completely overtaken by Manchester United as English football’s most successful club.

Ahead of the Audi Cup in Munich, Klopp told reporters about the ambition of his men:

“We will be playing for the championship. We don’t start a season by not having any ambitions.” the German said, according to Goal.Jurgen Klopp rates Pep Guardiola as his greatest rival Andrew Smyth – Liverpool boss Jurgen Klopp revealed that his Manchester City counterpart Pep Guardiola is the best manager that he’s ever coached against.

“We have to have our goals. That’s what we did last season. We aimed for the top, and we finished fourth. But I think we have a very good team now.

“We did have a bit of bad luck last season. I think we can play a little bit better.

“Let’s hope everything will work very well and that there isn’t much more to improve. We have to work very har上海夜生活论坛d on it and we’re doing that.”

The Reds were one of the title contenders last year, after a dip in their form packed with a number of injuries saw the club from Anfield take the fourth spot, 17 points behind Chelsea.

Denis Suarez objectives for next season: To play the maximum possible minutes and be at the World Cup

The youngster talks about his professional career and the determination to succeed at BarcelonaWritten by – Nikolay Nikolov, June 13, 2017.

Denis Suarez isn’t about to let his dream of playing for Barcelona slip away.

Having played already for major teams, such as Manchester City and Villarreal, the Spaniard admits that he had to train hard, in order to find a path to the top.

“[It’s been] very complicated, when I left Celta Vigo for City it was to succeed in football and after two years in Manchester, I moved to Barcelona,” said the midfielder to MARCA.

“I was given two years in which I tried to win a first-team spot. It was only when I did well at Sevilla and Villarreal that they took me back to Barcelona. Now that I’m there, no one is going to push me out. I will fight to the death for many years of success in Barcelona.”

Things were going great for the 23-year-old, until the beginning of 2017 when little by little, he stopped entering the line-ups.

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“I started playing quite a lot and having more prominence. After the Christmas break I returned to a great level, scoring goals and giving assists, but then my progression was cut back a little,” he said.

“I stopped entering the line-ups”, he continued.

“In the middle of the park there were people of a very high level, but I always look for the positive side of things. I’m at a big club like Barcelona, I see it as the first year of learning and next season I’m going to fight to the death.”

The youngster is currently with the U21 Spanish team for the European Championship in Poland but hopes to be included in the senior team for the World Cup in 2018.

“The objective of next year is to have a good season, play the maximum possible minutes, start at Barcelona and thus be at the World Cup,” he said.

“In Spain, the most difficult position to be selected in is the center of midfield, there are great players and we have many who want to be there. I will do everything in my power.”

Reliance shares see biggest intraday gain in a decade; rivals hit by disruption fears

BENGALURU ( ) – Reliance Industries (RELI.NS) shares saw their biggest intraday rise in more than a decade on Tuesday, after the company set a target to reach zero net debt in 18 months and vowed to reward shareholders with higher dividends and periodic bonus issues.

Reliance led by Mukesh Ambani, Asia’s richest man, said on Monday Saudi Aramco was to invest roughly $15 billion for a 20% stake in its oil-to-chemicals business, while also detailing plans to launch cut-price home internet services across India next month.

The announcements drove Reliance shares up as much as 12% — its biggest such move since Jan. 14, 2009. The spike has put the company within touching distance of becoming the highest-valued Indian company again. Currently, it trails Tata Consultancy Services (TCS.NS) by slightly more than $1 billion.

Its plans to launch JioFiber broadband services threaten to upend India’s telecom market with offers of free voice calls for life, television and movie streaming and even free TV sets to go with some subscription plans.

Analysts at Kotak Institutional Securities said Reliance “hit all the right chords” with its announcements and upgraded the stock to “Buy” from “Sell.”

Shares of telecom majors Bharti Airtel (BRTI.NS) fell almost 7% before recouping some losses, while Vodafone Idea (VODA.NS) slid as much as 10% as the announcements spurred worries of a repeat of what happened just three years ago when Reliance’s telecom upstart, Jio, burst onto the scene.

Jio, with cut-price data plans, has managed to become India’s top mobile operator by subscribers and No. 2 globally in a span of less than three years. The company, with more than 340 million users, said “half a bi上海夜生活网llion customers” are now within its reach.

Jio’s plans to offer free land-line spell further trouble for state-owned Bharat Sanchar Nigam Ltd (BSNL).

BSNL has been reported bit.ly/2YKMHuz to be under severe financial stress, chasing dues worth 30 billion rupees and delaying some employee salaries. At last count, the public sector telco was the fourth largest with 115.9 million users.

Reliance said customers of its Premium JioFiber services will be able to watch movies in their living rooms the same day these movies release in theaters.

It wasn’t immediately clear how Reliance would offer this and multiplex owner Inox INOX.NS said in a release “producers, distributors and multiplex owners in India have mutually agreed to an exclusive theatrical window of 8 weeks, between theatrical release of a movie and release on any other platform.”

Still, shares of theater operators PVR (PVRL.NS) and Inox fell as much as 8% and 10%, respectively, after trading resumed following a holiday on Monday. Shares in Dish TV India (DSTV.NS) also fell.

As of 0733 GMT, Reliance shares were up about 11%, while the broader market .NSEI was down 0.78%.

Georgia Democrat Abrams rules out U.S. Senate run, says not ‘best’ role

( ) – Georgia Democrat Stacey Abrams, a rising Democratic Party star who narrowly fell short of becoming the first female black U.S. governor, said on Tuesday she would not run for the U.S. Senate in 2020 because it was not “the best role” for her.

“The fights to be waged require a deep commitment to the job and I do not see the U.S. Senate as the best role for me in this battle for our nation’s future,” Abrams said in a video posted on Twitter, adding she would work to ensure the state elected a Democrat to the seat.

Abrams stands at the forefront of a diverse and younger generatio上海夜生活网n of Democratic Party leaders catapulted onto the national stage in last year’s midterm elections, and has been discussed as a possible 2020 White House candidate.

Her profile continued to climb when party officials picked her in February to deliver their response to Republican President Donald Trump’s State of the Union speech.

The 45-year-old former Georgia state legislative leader, demonstrated how Democrats could compete in a Southern state that had been voting reliably Republican. She came closer than any Democrat in years by rallying African-American voters, while drawing stronger support from white voters than Democratic presidential nominee Hillary Clinton in 2016, according to exit polls.

Abrams lost the governor’s race by about one percent of nearly 4 million votes cast in a Nov. 6, 2018 election that drew national scrutiny for voter suppression amid widespread complaints of ballot box irregularities, which Abrams blamed for eroding her margins.

“There’s been a lot of doubt about Georgia’s competitiveness that I think has now evaporated,” Lauren Groh-Warren, who managed Abrams’ 2018 campaign, said in an interview with prior to Tuesday’s announcement.

After her defeat, Abrams founded the voting rights nonprofit, Fair Fight Action, which aims to end state practices that have drawn criticism from national voting rights advocates. These practices range from purges of the voter rolls and stringent rules requiring signatures on mail-in ballots, to exact-match official records.

Such requirements can disproportionately affect minority voters who often favor Democratic candidates.

“Bad policies are a direct result of people not being heard because their votes were not counted,” Abrams said in the video, adding she would continue to fight voter suppression.

Abram’s 2018 opponent, Republican Brian Kemp, ignited further controversy for overseeing the election as Georgia’s then secretary of state. Kemp, who has denied nefarious action, stepped down from his post only after winning the governorship.

Despite her loss, Abrams’ candidacy is widely credited with helping to turn out Democratic voters who enabled the party to pick up a congressional seat in the Atlanta suburbs and come close to wresting a second seat away from the Republican Party.

Power traders tackle renewables puzzle in Danish ‘Silicon Valley’

AARHUS, Denmark ( ) – Far from the sprawling financial hubs of London or Frankfurt, high-tech traders in the Danish university city of Aarhus are driving rapid change in European power markets, easing the shift to renewables with technology that also carries some risks.

The red-brick buildings, pavement cafes and streets full of cyclists in the coastal city on the Jutland peninsula belie the sophisticated computer-driven trade in electricity and gas across Europe taking place inside some 10 firms based here.

But the wind turbines filling fields nearby flag the origins of a future-focused business. Leading global wind turbine manufacturers Vestas (VWS.CO) and Siemens Gamesa (SGREN.MC) have roots in Denmark, which now covers around 30 percent of its energy needs with renewables.

The rapid diversification brought by renewables, coupled with growing competition and digitalization in traditional European power and gas, has lowered margins, shortened contracts and brought an explosion of data for traders to consider.

Algorithms can examine live data about the output of wind turbines or solar panels, changeable weather patterns, demand and fuel price data much faster, more accurately and at a lower cost than a human trader.

A Dane called Henrik Lind spotted an opportunity in Aarhus, where Vestas is based, and set up Danske Commodities in 2004. It and other firms established since – some by former Danske Commodities employees – now use algorithms and artificial intelligence to reap rewards from real-time fluctuations in supply and demand.

“A knowledge industry has been created here of power, gas, renewables, Big Data, artificial intelligence – a combination of the traditional markets and the Silicon Valley tech,” said Jesper Johanson, chief executive and co-founder of InCommodities, one of four Aarhus-based firms spoke to.

Energy companies and banks have their own trading desks experimenting with automation and utility companies are also dipping their toes into the business, but some say that with customers to satisfy, the stakes are much higher if they get it wrong.

In an ideal world, the technology helps energy producers to sell their output at the best price, utilities to keep their costs and supplies steady and bankers and brokers to make money with trades that smooth over sharp changes in supply or demand.

Balancing those interests and ensuring transparency and predictability is a challenge, however, and market experts expect regulation to evolve as it has for financial markets as power trading develops.

DATA IS GOLD

Specialist firms are already growing fast as the shift away from fossil fuels introduces a raft of new variables.

“I consider InCommodities just as much an IT company as a commodity trader,” said Johanson, one of four founders of a two-year-old company which now employs 35 people trading short-term power and gas in ten different European markets. All four founders have previously worked at Danske Commodities.

InCommodities’ earnings before tax jumped 529% last year to 7.9 million euros ($8.9 million) and it plans to expand into UK gas next year, emissions markets and, potentially, liquefied natural gas in future.

Danske Commodities was bought by Norwegian oil and gas major Equinor (EQNR.OL) last year: its 50 dedicated energy traders are now doing more than 3,750 trades a day; 24 hours a day; 7 days a week and across 38 power markets.

Unlike InCommodities, which trades for itself, Danske Commodities buys and sells on behalf of clients which may be power companies or renewable energy producers; its earnings before interest and tax rose by 28 percent last year to 72 million euros.

“We treat data as gold. We believe in automation. AI and algorithms are important to be able to leverage the trend of digitalization and develop a competitive edge in these power markets,” said Andreas Schwartz Knudsen, the company’s head of commercial business development.

Leading European power exchange EPEX SPOT said automatic trading began on its platform in 2012 and by last year accounted for around a third of record intraday and day-ahead volumes of 567 terawatt hours (TWh).

Six senior上海夜网 company officials from Danish-based companies involved in the trade interviewed by all saw European power trading becoming so complex that only computer modeling, coupled with human traders, could tackle it.

Investment in automation technology can cost from 100,000 euros to several millions but the most successful has a payback of between one and two years, according to Philippe Vie, group leader of energy, utilities and chemicals at business consultancy Capgemini.

Even so, some people are cautious.

Swedish power company Vattenfall’s CEO Magnus Hall said the company did trade automatically, but “under great surveillance”.

“If it goes wrong it can go severely wrong,” he said by telephone. “Some others do it more frequently but we think there is a need for more safety and security work.”

FAIR MARKET

Market players in Aarhus see themselves as a force for good in a market much more unpredictable than it was in the pre-1990s era of state monopolies dealing with fossil-fuel based regional supply and relatively steady demand.

“The transition towards a higher share of renewable production increases market volatility,” said Sebastian Lund, managing partner of Aarhus-based Nordic Energy House, founded by four former Danske Commodities employees and focused on British and Irish intraday power markets.

“Traders provide market liquidity and play a vital role in establishing dynamic and fair market prices,” he said.

The increasing electrification of power to homes and businesses and the prospect of millions of electric vehicles supplied via a web of renewables and traditional suppliers gives a picture of the complexity ahead.

Algorithmic trading is at a relatively early stage compared with financial markets, but as it develops, it will become harder for the traders overseeing it to gauge the factors behind market moves.

Potential risks have already caught the attention of the body overseeing European energy market transparency regulation, the Agency for the Cooperation of Energy Regulators.

“The two main examined risks are its potential use as a tool for the manipulation of the market and the possibility that algorithms themselves can in certain circumstances be susceptible to manipulation,” it said.

Existing legislation already applied, it said, while adding: “Provisions from the financial legislation and experience from financial market authorities could prove useful.”

REWARDS

The rewards for successful power trading are growing.

Volumes in Europe’s main wholesale markets were broadly stable at 9,270 terrawatt hours (TWh) last year, but a rise in prices pushed its notional value up 25% to a 7-year high of 459 billion euros, research firm Prospex said. Total European gas trading value rose 35% last year to exceed one trillion euros for the first time.

“As technology and trading gets more sophisticated, the imperfections and the profits shrink,….but the companies playing the market the best, with the most sophisticated technology, are claiming larger profit share,” said Antti Belt, managing director and partner at Boston Consulting Group.

Germany has the continent’s most liquid power market and very short term trades are increasing, while German power producers and grid operators are concerned about the possibility of outages as the country shifts to renewables.

In-country and cross-border capacity is an issue, and with a population exceeding 83 million, Germany has around 14 times as many people to worry about than its northern neighbor Denmark.

There, so far, the experience has been good.

“Denmark … is now widely recognized as a global leader in integrating variable renewable energy while at the same time maintaining a highly reliable and secure electrical power grid,” the International Energy Agency said.

At Danske Commodities, the average age of the 300 employees is 33 and 73% have a master’s degree or higher – some even in cosmology and nanophysics. A talent pool for it and other firms lies on the doorstep.

U.S., China to relaunch talks with little changed since deal fell…

WASHINGTON/NEW YORK ( ) – The United States and China are set to relaunch trade talks this week after a two-month hiatus, but a year after their trade war began there is little sign their differences have narrowed.

After meeting with Chinese President Xi Jinping in Japan just in late June, U.S. President Donald Trump agreed to suspend a new round of tariffs on $300 billion worth of imported Chinese consumer goods while the two sides resumed negotiations.

Trump said then that China would restart large purchases of U.S. agricultural commodities, and the United States would ease some export restrictions on Chinese telecom equipment giant Huawei Technologies.

But sources familiar with the talks and China trade watchers in Washington say the summit did little to clear the path for top negotiators to resolve an impasse that caused trade deal talks to break down in early May.

White House economic adviser Larry Kudlow said Washington was still waiting for China to make good on what he called a “very, very important” pledge to quickly buy more agricultural products, but said there was no firm deadline for such purchases, or for finalizing an overall deal.

Kudlow underscored the divergent perspectives of the world’s two largest economies. He said the United States was seeking remedies and correctives for what it sees as decades of unfair and illegal trading practices, but that would necessarily clash with China’s push for a fair and equitable agreement.

Those differences could still be overcome in negotiations, Kudlow, director of the White House’s National Economic Council, told an event hosted by CNBC, adding, “It’s not impossible. Where there’s a will, there’s a way.”

U.S. Trade Representative Robert Lighthizer, Chinese Vice Premier Liu He and Treasury Secretary Steven Mnuchin are due to resume talks by phone this week.

Kudlow told reporters the two teams would meet in person in the near future.

The United States is demanding that China make sweeping policy changes to better protect American intellectual property, end the forced transfer and theft of trade secrets and curb massive state industrial subsidies. At stake, U.S. officials say, is dominance of the high-tech industries of the future, from artificial intelligence to aerospace.

“We’ve had a change in atmospherics,” said Derek Scissors, a China expert at the American Enterprise Institute, a business-oriented Washington think tank. “While this is great for markets, the administration has not said one specific thing about how we’re unstuck.”

Scissors, who has at times consulted with Trump administration officials, said that both sides got what they wanted out of the summit — a lowering of the temperature and the avoidance of new tariffs that would have been painful for both sides.

“The pressure for one side to give into the other is diffused right now. I expect this to drag out for months,” Scissors added.

NO FIRM COMMITMENTS

Washington and Beijing appear to have different ideas of what the two leaders agreed in Osaka.

Three sources familiar with the state of negotiations say that the Chinese side did not make firm commitments to immediately purchase agricultural commodities.

One of the sources said Trump raised the issue of agricultural purchases twice during the meeting, but Xi only agreed to consider purchases in the context of a broader final agreement.

Other than a small purchase of American rice by a private Chinese firm, no purchases have materialized. Chinese officials and state media accounts in the past week have emphasized that any deal, including agricultural purchases, is dependent on removal of U.S. tariffs.

“The Chinese have been clear they didn’t promise anything,” said one source familiar with the talks.

“The idea they would give up their main leverage before getting anything doesn’t make sense. I could see them buying some pork and buying some soybeans, but it’s still going to be pennies.”

Trump administration officials have also downplayed the extent of pledges to allow Huawei to purchase U.S. technology products, with White House trade adviser Peter Navarro saying that only “lower-tech” U.S. semiconductors could be made available for sale to the company..

reported last week that the Commerce Department’s export control enforcement staff was told to continue to treat Huawei as a blacklisted entity as the department considers requests for licenses to U.S. firms to sell products and services to Huawei

And Kudlow told the CNBC event that the relaxed rules on sale to Huawei would only be in effect for a limited time.

Chinese officials point out that they only got the United States to concede on Huawei at the Osaka talks, rather than on their other demand, which was removing the existing tariffs.

    So the focus on the upcoming talks will be the scrapping on the tariffs, they say.

A second source said that U.S. tariffs on $250 billion worth of Chinese goods and Chinese tariffs on $160 billion worth of U.S. goods could wind up being “the new normal.”

    One Chinese official familiar with the situation said trade talks would be re-started very quickly, but that there was a “fairly large gap” in the core demands of both countries and it would be a challenge to reach consensus on the toughest issues.

“The negotiating environment is even more severe,” the official said.

Another official said China remained concerned about the presence of hawks in the U.S. team, such as Trump advisor Peter Navarro.

“There are bullies there,” the official said.

The officials spoke to on condition of anonymity.

China’s foreign ministry cited Xi as telling Trump at Osaka that “on issues concerning China’s sovereignty and dignity, China must safeguard its core interests”.

WHICH TEXT?

There has been no indication the two sides will resume negotiations using a text that had been largely agreed before China backtracked on commitments in early May, prompting Trump to proceed with a long-threatened tariff hike to 25 percent on a $200 billion list of Chinese imports.

Beijing had cut out of that text commitments to make changes to its laws reflecting reform pledges, arguing that this would violate its national sovereignty.

Finding a way around this issue is paramount for talks. Beyond that, there are many other difficult issues to resolve, including the structure of an enforcement mechanism designed to hold the two sides to their pledges.

U.S. demands for curbs to provincial and local subsidies for Chinese state comp上海夜生活anies, access to China’s cloud computing market, agricultural biotech approvals and the scope of China’s agricultural purchases remain divisive issues for the two sides.

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Claire Reade, a former China trade negotiator at USTR who is now a Washington-based trade lawyer with the firm Arnold and Porter, said there was room on both sides to get a deal.

“There are ways to maneuver around the current red flags that have been put in the ground,” Reade said. “Both President Xi and President Trump have to come out of this saying they stood strong, and they in-effect got a win.”

One way for China to avoid the appearance of giving in to U.S. demands is to take some legal steps on key issues before the deal is agreed. That way they can say they’re doing it on their own terms, she added.

Deutsche Bank careers end in an envelope, a hug and a cab ride

HONG KONG/LONDON/NEW YORK ( ) – Summoned by HR to be handed a Deutsche Bank envelope, many of its staff across the world then left their desks for the last time on Monday, shown the door by their German employer within hours of a restructuring announcement.

Deutsche Bank confirmed on Sunday that it was closing huge parts of its trading businesses, with staff in its equities division in Sydney and Hong Kong among the first to be told their roles would go.

“If you have a job for me, please let me know,” said a banker leaving the Hong Kong office on Monday.

Staff leaving in Hong Kong were holding envelopes with the bank’s logo. Three employees took a picture of themselves beside a Deutsche Bank sign outside, hugged and then hailed a taxi.

“They give you this packet and you are out of the building,” said one equities trader.

“The equities market is not that great so I may not find a similar job, but I have to deal with it,” said another.

At the bank’s Wall Street office, staff impacted by the cuts were summoned to the cafeteria to learn of their fate. A notice inside the building’上海夜生活论坛s lobby told staff the cafeteria would be closed until 11.30 a.m. EST.

Hundreds of staff were informed during the meetings that their positions were being cut, sources within the bank told . They also received details of their redundancy packages. One source said staff could be seen saying their goodbyes to colleagues upon leaving the cafeteria.

Speaking outside the bank’s office, one employee told the cuts had been anticipated for weeks.

“People have been planning their next moves but it’s a tough market,” the person said, speaking on condition of anonymity.

Another employee, who asked not to be named, said the bank held a short meeting in its auditorium at 9.30 a.m. EST to inform staff of the cutbacks. He said he was later handed an envelope informing him of his redundancy. The staffer said he and his colleagues had known the impending cuts were likely for the past couple of weeks.

Deutsche Bank plans to close all of its equity trading business and cut some parts of its fixed income operations, in an overhaul expected to lead to 18,000 job cuts.

Some of those roles will be cut immediately, while some staff will be kept on for longer while they help wind down operations.

A few hours after the Hong Kong staff left, workers were seen leaving Deutsche Bank’s office in the City of London, which along with New York is expected to bear the brunt of the cuts, carrying similar envelopes.

“I was terminated this morning, there was a very quick meeting and that was it,” said one IT worker, who left while Deutsche Bank chief executive Christian Sewing was inside the building doing a call with the media.

Few staff wanted to speak outside the bank’s London office, but trade was picking up at the nearby Balls Brothers pub around lunchtime.

“I got laid off, where else would I go,” said a man who had just lost his job in equity sales.

FAR-FLUNG CUTS

The layoffs were going beyond the major financial centers.

A Deutsche Bank employee in Bengaluru told that he and several colleagues were told first thing that their jobs were going.

“We were informed that our jobs have become redundant and handed over our letters and given approximately a month’s salary,” he said.

“The mood is pretty hopeless right now, especially (among)people who are single-earners or have big financial burdens such as loans to pay,” he added.

Deutsche spokespeople in Hong Kong and London declined to comment on specific details about the number of departures, but said they would try to support people being made redundant.

For those losing their jobs in equities, finding a new one could prove difficult, with the industry still grappling with higher costs from new European regulations on share trading.

“The job market in equities is going to be very tough,” said George Kuznetsov head of research and analytics at Coalition, which analyses the investment banking industry.

“Our expectations if for equities sales and trading revenues falling 7-8% this year and that of course is going to put a lot of halts into the hiring across most of the brokers”.

For Deutsche Bank staff whose jobs are safe for now, there was some relief, but also big doubts about the future.

“The biggest question for us is where do we go from here if we don’t offer the whole suite of products? Will clients stick with us or is the game over?” said a Singapore banker who remains in his job.