Sainsbury’s puts plans for store extensions on ice

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Grosvenor plans A$280m fund with Australian trust

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California dreaming

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Hines lights up Edinburgh with 400,000 sq ft city centre scheme

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iPhone maker Hon Hai cuts 2020 outlook after virus outbreak

first_imgHon Hai Precision Industry, Apple’s main production partner, cut its 2020 revenue growth outlook after assessing the potential impact of a deadly coronavirus outbreak.Hon Hai, which makes the vast majority of the world’s iPhones from the central Chinese city of Zhengzhou, is now projecting a sales increase of 1 percent to 3 percent this year, Chairman Young Liu told Bloomberg News in a text message. That’s down from a Jan. 22 forecast of 3 percent to 5 percent, before the epidemic spread around the globe, and lags the 5.4 percent average of analysts’ projections.The contagion is expected to disrupt Apple’s carefully calibrated production chain centered on China, while also dampening consumer demand and overall economic growth. Hon Hai, an important manufacturer also for major brands from HP to Sony, said Tuesday it still expects to be able to restart facilities throughout China on schedule, according to a text message sent to Bloomberg News. Suppliers such as Quanta Computer, Inventec and LG Display also said they would go back to work next week in China. But while Chinese officials and companies have targeted Feb. 10 as the date to resume work in much of the country, doubts about the timing have grown in recent days as the virus death toll rises, workers find themselves stuck in municipal lockdowns and the transport of people and goods has been hampered.”Given current market conditions, we are lowering to 1 percent -3 percent,” Liu replied when asked about whether Hon Hai will cut its original sales growth forecast for this year.Hon Hai’s shares stood largely unchanged Wednesday after having slid about 11 percent since a broader Asian market selloff began in mid-January.Topics :last_img read more

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Lion Air confirms passenger named ‘Jin’ among 188 on Wuhan-Bali flight

first_imgWhen and where Jin was infected with the virus remains unclear. Lion Air, however, had no plans to notify other passengers about undergoing a medical examination, Danang said. He refused to go into detail about Jin’s identity.Danang said JT2618 was well-prepared with all crew members and passengers having gone through a medical examination as required before departure. The flight departed on schedule at 5:05 p.m. local time in Wuhan, Hubei, and landed at the Bali airport at 10:55 p.m. Central Indonesia time.Upon arriving in Bali, Danang said, technicians had worked together with the relevant parties to spray disinfectant in the aircraft according to standard procedures.“This is to ensure the safety, security and comfort of air travel for flight crew and passengers, especially in anticipation of the coronavirus outbreak as notified by local authorities,” Danang added.Lion Air had operated three flights a week, every Wednesday (including on Jan. 22), Friday and Sunday, carrying passengers on flight JT2619 from Bali to Wuhan and flight JT2618 from Wuhan to Bali, before it canceled all Bali-Wuhan international flights on Jan 29.Topics : Lion Air has confirmed that a passenger named Jin was one of 188 passengers on a flight from Wuhan to Denpasar on Jan. 22. An air traveler with the same name was previously reported as testing positive for the novel coronavirus, but it is not confirmed whether the identities match.Read also: Tourist tests positive for coronavirus eight days after return from Bali: Chinese authoritiesIn a media statement received by The Jakarta Post, Lion Air confirmed that JT2618 flew from Wuhan Tianhe International Airport in Huangpi District to I Gusti Ngurah Rai International Airport in Bali on Jan. 22 and that the flight carried two pilots, one co-pilot, six cabin crew members, two technicians and 188 passengers. “All passengers, including Jin, were checked by a medical team from I Gusti Ngurah Rai Airport’s port health office and there was no indication of a virus infection,” Lion Air Group corporate communications strategic officer Danang Mandala Prihantoro told The Jakarta Post on Thursday. He said he was checking the manifest to confirm whether there were other passengers who had “Jin” in their name.Earlier, the Huainan Center for Disease Control and Prevention reported on Feb. 5 that a patient who tested positive for the coronavirus, identified only as Jin, flew on Lion Air flight JT2618 from Wuhan to Bali on Jan. 22. The patient stayed on the island for about a week before flying on Garuda Indonesia flight GA858 from Bali to Shanghai on Jan. 28.The Chinese authority instructed the public in its announcement that passengers of the two flights should impose self-quarantine measures, head to a hospital wearing a mask if they have a fever and avoid public transportation.Read also: ‘We will trace his movements’: Bali officials respond to report of coronavirus-infected touristlast_img read more

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Messi scores four as Barca jump above defeated Madrid before Clasico

first_imgTheir victory, coupled with Madrid’s defeat, means Barca move back to the summit of La Liga, two points ahead of Zinedine Zidane’s side ahead of next Saturday’s showdown at the Santiago Bernabeu. It amounts to a considerable shift in momentum, with Barcelona away at Napoli in the first leg of the Champions League last 16 on Tuesday. Madrid host City a day later and the plan had been for Hazard to regain form and fitness in what was only his second start since returning from three months out with a broken foot. But the Belgian was seen limping and after being taken off he sat in the dugout with what appeared to be an ice pack around the same troublesome right foot.  Lionel Messi scored four goals and Barcelona reclaimed top spot in La Liga as Real Madrid suffered a surprise defeat by Levante on Saturday, a week before the Clasico. Madrid’s nightmare afternoon was made worse by another injury to Eden Hazard, who was forced off in the second half of their 1-0 defeat in Valencia and is now doubtful to face Manchester City on Wednesday in the Champions League. Messi ridiculed talk of a drought by scoring four goals after four games without one, while emergency signing Martin Braithwaite made two assists off the bench, teeing up Messi and then Arthur Melo in injury-time.  Madrid were shaken by Hazard’s departure and Levante capitalised as Jose Morales banged a shot into the top corner from the angle, even if Thibaut Courtois pulled out of a save he really should have made. For Madrid, playing catch-up again next weekend will be a particularly heavy psychological blow, especially given the series of off-field problems engulfing Barcelona in recent weeks. Messi said in an interview with Mundo Deportivo last week that Barcelona, “the way we are now”, will not have enough to go all the way in the Champions League, placing further doubts around the overall direction of the club on the back of his public spat with technical secretary Eric Abidal. Yet on the pitch, Messi showed no sign of distraction as the 32-year-old completed the second fastest of his now 36 league hat-tricks, after less than 40 minutes at Camp Nou. “There’s nothing left to do but stand up and applaud,” Eibar wrote on Twitter afterwards. “I won’t wash my kit after hugging Messi,” said Braithwaite. Braithwaite’s arrival from Leganes on Thursday drew criticism after Barcelona capitalised on a curious La Liga rule that allows clubs to sign outside of the transfer window if they have lost a player to injury for more than five months.  Leganes, without their top scorer, were beaten earlier by fellow strugglers Celta Vigo but Braithwaite made the perfect start with his new team. Brilliant Messi Messi quickly got to work, scoring a brilliant first goal in the 14th minute after collecting the ball centrally, around 30 yards out. He had three Eibar defenders in front of him but found a way through, nutmegging Anaitz Arbilla before chipping delicately into the corner. The second came in the 37th minute as Sergio Busquets found Arturo Vidal, who feathered a flick into Messi’s path. Messi surged forward, past his stumbling opponents, and fired in. His third, three minutes later, was the simplest of the trio and arrived only after he tried to play in Antoine Griezmann. His generosity was rewarded as a sloppy Griezmann touch meant the ball cannoned back to Messi, who apologetically poked in. Coach Quique Setien was able to take Griezmann off with 18 minutes left and introduce Braithwaite for his debut. Braithwaite’s first contribution was a skewed cross but things improved immeasurably from there, as two passes across goal gave Messi his fourth and Arthur his first. Madrid were never in control of a chaotic contest against Levante but might have taken the lead if Hazard had done better with a long ball over the top from Marcelo, which he failed to control and then scuffed into the hands of Aitor Fernandez. He limped off and Madrid lost their way, finally punished with 11 minutes left by a straight ball through to Morales. Luka Modric, exposed on the right side of Madrid’s defence, was unable to recover and Morales caught Courtois by surprise by firing early past the goalkeeper and into the top corner. Real Sociedad moved into fourth and above Atletico Madrid with a 3-0 victory over Valencia, whose miserable form continued following their 4-1 Champions League loss at Atalanta in midweek. Topics :last_img read more

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Trump sell-off shows fear governments can’t save markets

first_imgTopics : Even a coordinated response of fiscal and monetary initiatives appears not to impress traders, at least when it’s in a single country. The Bank of England cut interest rates by half a point on Wednesday, when the UK government also pledged a 30 billion pound ($39 billion) emergency boost to spending. The FTSE 100, which had started the session up as much as 2.2 percent, ended the day 1.6 percent lower.Read also: Indonesia set to delay import duties, corporate income tax payments to cope with virus effectsBritain’s continental neighbors have also made a show of a united fiscal-monetary front, at least when it comes to communication. Some 27 European Union leaders held a video conference to coordinate action with European Central Bank President Christine Lagarde earlier this week. But German Chancellor Angela Merkel’s Wednesday pledge to do “whatever is required” to limit the impact of the coronavirus on Europe’s biggest economy failed to prevent another drop in regional stocks.The echo of the “whatever it takes” pledge from the European Central Bank in 2012 – which helped put a floor under the euro crisis – hasn’t been matched by a large-scale fiscal package. Next up is the ECB meeting Thursday, where economists anticipate a rate cut along with other measures.One market where authorities are proving purposefully unhelpful is oil. With Saudi Arabia and Russia battling for market share, that’s provided a double whammy, alongside the hit due to sliding demand as global growth decelerates.West Texas Intermediate crude has tumbled by roughly half from the high in January.Read also: In Singapore’s neighbor Batam, malls empty, ferry trips reduced as virus fears lurkTrump’s actions might not have forestalled a bear market for US stocks, but in another market things have moved in a more favorable direction. The dollar, which Trump has long said was strong and hurting US competitiveness, is on the retreat – at least against the euro and yen. Losses for emerging-market currencies make the dollar index a more equivocal play.The asset that for the moment stands out as potentially less responsive to fear and panic is gold. The traditional haven asset climbed as the coronavirus spread around the world, but it’s come off of the high it reached Monday. Read also: In dramatic step, Trump restricts travel from Europe to US to fight coronavirus“The central bank ‘put’ has established a floor under risk assets for the past decade. This is the first time that markets are seriously questioning whether it will work again,” Jason Daw, a strategist at Societe Generale SA in Singapore, wrote in a note Thursday. “While fiscal policy is better medicine than monetary, neither are properly equipped to mitigate the coronavirus-induced growth shock.”Error-laden announcements added to Thursday’s tumult. Trump’s initial comments suggested restrictions both travel and trade from Europe, while subsequent clarifications emphasized it applied just to people. Even then, the news underscores how steps to slow the spread of the disease unavoidably also hammer businesses, and so corporate earnings and stock-market valuations.Trump spoke little more than an hour after his Australian counterpart, whose own announcements similarly failed to do the trick for equity investors. Prime Minister Scott Morrison formally announced nearly A$18 billion (US$11.6 billion) in stimulus. The S&P/ASX 200 Index, which had opened in the red, saw losses more than double at one point, to almost 8 percent.center_img For weeks, investors have been pleading for governments to shore up a global economy ravaged by the coronavirus. But after the biggest wave of stimulus announcements since the outbreak began, fear is mounting the efforts might not provide the salvation markets are looking for.Emergency measures in the U.K, Italy and Australia, along with a commitment from Germany’s Angela Merkel to do “whatever is necessary,” were met with fresh waves of selling in stocks, putting the MSCI All-Country World Index on the brink of a bear market. The gloom veered toward panic after President Donald Trump announced an underwhelming set of US support measures and restricted travel from Europe. S&P 500 futures tumbled as much as 4.9 percent and contracts on the Euro Stoxx 50 over 8 percent.While government stimulus helped bring an end to the global recession triggered by the financial crisis, investors are increasingly skeptical whether policy makers can forestall a virus-induced downturn. Fiscal and monetary measures may only help with the knock-on effects of the epidemic’s widespread shutdown of economic activity, leaving investors little option but to await the subsiding of the virus itself.last_img read more

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PREMIUMTransportation companies caught off guard as commuters pack stations

first_imgA restriction on the operational hours of public transportation imposed by Jakarta Governor Anies Baswedan in a bid to contain the spread of COVID-19 appears to have massively backfired, with large crowds and long lines building up at Transjakarta and MRT Jakarta stations across the capital on Monday.The lines accumulated as commuters wearing face masks squeezed into packed bus stops and train stations during peak hours in the morning, with many commuters waiting for hours and becoming distressed at being late for work.While some commuters appeared ignorant about the city’s containment efforts, many others had no option because they still had to go to work since their companies had yet to impose or had only imposed a partial work-from-home policy.Aninda, a 27-year-old state-owned enterprise worker, said she was not able to stay at home because her company enforced a two… LOG INDon’t have an account? Register here Topics : Log in with your social account Facebook Google Forgot Password ? #coronavirus coronavirus public-transportation Linkedinlast_img read more

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PKS, PAN, Dems oppose prioritizing lawmakers for COVID-19 tests

first_imgThe PKS is the first party to reject the plan since it was announced on Monday by House secretary-general Indra Iskandar. As many as 2,000 people are due to be tested on Thursday or Friday at the House’s housing complexes in Kalibata and Ulujami in Jakarta.The plan has also been widely criticized by the public as there are still many sick people across the country struggling to get tested. Thousands of people have signed online petitions on Change.org, calling for the plan to be canceled.”We recommend the House cancel a rapid test for lawmakers and their families this week. We are against the plan because there are many citizens and medical officials that have a more urgent need to be tested,” PKS spokesperson Pipin Sofian said in a written statement on Monday.Read also: West Java to conduct COVID-19 rapid tests at three soccer stadiums Three parties outside the government coalition, the Prosperous Justice Party (PKS), the National Mandate Party (PAN) and the Democratic Party are opposing the plan for members of the House of Representatives and their families to be prioritized for COVID-19 tests.The three have demanded the House cancel the plan, saying that the free tests that are funded by donations from House leaders and members, should be given to citizens who cannot afford them and medical workers who are working every day in hospitals. “It is better to show our empathy toward them. Give priority to those in need,” Pipin added.Dems faction chairman at the House Edhie “Ibas” Baskoro Yudhoyono said on Tuesday that lawmakers should show empathy and humanity toward people infected with the coronavirus and who were struggling to be tested.”Put people first,” Ibas said in a written statement on Tuesday.PAN lawmaker Zainuddin Maliki voiced the same concern as Ibas, saying that amid this situation, all politicians must be wise in setting priorities, and lawmakers should not put themselves first.”I was surprised to hear of the plan. How come lawmakers and their families come first? When it is clear that many medical workers and people are vulnerable to being infected. They are more important,” Zainuddin said.Read also: With low test rates, COVID-19 spreads in shadowsHe said it would be best for the House to cancel the plan, saying there must be many lawmakers who also disagreed with it.”I’m sure they are feeling bad. This is the House secretariat policy, not ours,” he said, adding that the lawmakers should focus on handling the coronavirus outbreak.”If you want to do a test, please do it individually. Not collectively.”Topics :last_img read more

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