Ricky Rubio (Minnesota Timberwolves) with an assist vs the Brooklyn Nets, 04/13/2021
Ricky Rubio (Minnesota Timberwolves) with an assist vs the Brooklyn Nets, 04/13/2021
Corruption charges against the secretary-general trigger a power struggle within the ruling party.
TORONTO — Mandy Bujold would have preferred fighting this battle in the ring. Instead, the Tokyo Olympics fate for Canada’s best boxer lies in the hands of the Court of Arbitration for Sport after her qualifying tournament was scrapped due to the pandemic. Bujold and her lawyer, Sylvie Rodrigue, lost their appeal to the International Olympic Committee earlier this week, leaving CAS as her last chance to box in what would be her final Olympics. “I had been hopeful (about the IOC’s decision),” Bujold told The Canadian Press on Wednesday. “But they did not even address the issues in our letter, which is really unfortunate, right? You think of the Olympics and the principles of Olympism, you think about fairness, you think about sportsmanship, you think about all these things that make the Olympics what they are, and make me proud to be an Olympian and to get this response was really tough.” After a competitive year erased by COVID-19, the 11-time national flyweight champion had been confident she’d clinch a berth at the qualifying tournament this month in Buenos Aires. The event was recently cancelled amid coronavirus cases in Argentina. With no remaining international competitions for boxers from the Americas, athletes were selected on a revised ranking system using three events between 2018 and 2019 — events Bujold didn’t compete in because they conflicted with her maternity leave. Bujold’s daughter Kate was born on Nov. 5, 2018. Rodrigue calls Bujold’s situation a human rights violation and discrimination case. In the Olympic Boxing Task Force’s revised ranking system for Tokyo, “it’s like Mandy has never been ranked in the world,” Rodrigue said. “What we say is the fact that they do not accommodate pregnant or postpartum athletes by recognizing their rankings pre-pregnancy, they are violating the rights of the athletes from a gender equity and from a discrimination standpoint,” she said. The 33-year-old Bujold had planned to retire after the Tokyo Games, and had already pushed back her departure for a year after the Olympics were postponed to 2021. “I’ve been training for this opportunity, for this final moment to kind of close this chapter of my career, and now not even being able to have that opportunity, that’s really tough,” she said. Both the Canadian Olympic Committee and Boxing Canada wrote letters in support of her appeal to the IOC, Bujold said. The continental qualifiers were originally scheduled for last March, but were scrapped due to the pandemic. Adding to the frustration, the European qualifying event is still happening next month in Paris. Bujold said a European boxer with an identical story — she had a baby and took maternity leave around the same time — is just one fight from punching her ticket to Tokyo. Whatever the CAS rules, there was never a doubt Bujold would pursue this battle to the end. “I think about when I’m preparing for a fight in the ring, I make sure that I do everything possible to give myself the opportunity to win. And, that’s exactly what we’re doing right now, in a different type of fight,” she told CP. Bujold, a two-time Pan American Games champion who was previously ranked No. 2 in the Americas, would be the first Canadian woman to box in back-to-back Olympics. Her Rio Olympics ended in heartbreak due to illness; hours before her quarterfinal bout she was in hospital on an I.V. Her goal was to close her career with a medal in Tokyo. Now with everything in doubt, it’s not easy some days to go to the gym. “At the end of the day, I’m trusting Sylvie, I’m trusting her team to fight for me,” she said. "So, I need to be prepared and do my part by staying ready, and staying in shape. So until there’s a final conclusion, at the end of all of this, I need to just stay ready.” The Associated Press
Temenos (SIX: TEMN), the banking software company, today announces that Eurobank in Greece has selected Temenos Wealth to strengthen its position in wealth management and affluent segment services. Eurobank, the third largest bank in Greece, will use Temenos Wealth to create a fully-digital investment portfolio management service offering Robo-Advisor and Goal-Based Investing apps to target the mass affluent and affluent market.
South Africa's Zulu nation awaits a decision on who will succeed the queen, who died last month.
IPL was successfully conducted in UAE in 2020 despite the COVID-19 pandemic.
(Bloomberg) -- Societe Generale SA turned in its best equities-trading performance since 2015, rebounding from a disastrous quarter a year earlier and providing relief to Chief Executive Officer Frederic Oudea as he prepares to unveil his new investment bank strategy.Revenue at the equities business -- hit last year by market volatility -- was the high point in a strong trading quarter for the French bank, soaring to 851 million euros ($1.02 billion) compared with analyst estimates of 573 million euros. Fixed income revenue and provisions were also better-than-expected.European and Wall Street banks reported their best equities revenue in years after booming stock markets and retail-investor volatility during the height of the pandemic continued into the new year. The rally in markets is easing pressure on Oudea after the bank’s first annual loss in more than three decades last year, prompting him to reshuffle top management and pledge buybacks.“Market conditions were very positive in the beginning of the year, and there’s always a seasonality,” Oudea said in an interview with Bloomberg TV on Thursday. “But we are confident for the overall year.”Equities revenue was hammered in the first half of 2020 by losses on structured products hurt by companies canceling dividends, triggering a review and a 684 million-euro writedown at the unit. SocGen is cutting about 450 million euros of costs until 2023 at the business and has designed new products. Still, its equities performance since then has been uneven, with gains in the third quarter giving way to declines in the fourth.The first-quarter performance of the equities unit “shows that the franchise is really intact, and that we made the right decision to redesign the portfolio of structured products,” Oudea said. In a bid to boost profitability, he’s started cutting hundreds of jobs at the investment-banking unit and merged the domestic retail networks to reduce the number of branches. Last month, SocGen also agreed to sell its 170-billion euro asset management arm Lyxor to Amundi for 825 million euros. The deal accelerates the bank’s exit from asset management, even as the sector shows higher valuation multiples, making it a growth priority for some peers.French rival BNP Paribas -- which also saw equities income erased a year earlier -- posted its best quarter from that business since 2018, though couldn’t match SocGen’s performance in fixed income, where it missed estimates. On Friday, Barclays Plc’s equities unit reported a 65% year-on-year jump in equities revenue, making it its best quarter ever.Elsewhere, the implosion of Bill Hwang’s Archegos Capital Management spoiled what would otherwise have been strong trading performances by the Swiss banks. U.S. banks’ equity-underwriting fees were almost quadruple their first-quarter 2020 level in aggregate, according to Bloomberg Intelligence, marking the third quarter in a row of growth more than doubling.SocGen’s investment bank saw its revenue soar 54% to about 2.5 billion euros in the first three months topping analysts’ estimates. The division’s new head, Slawomir Krupa, will update strategy on Monday, just as the unit is dealing with a round of job cuts announced in November.During the first quarter, SocGen also joined other European lenders in posting lower provisions and set aside 276 million euros to cover potential bad loans, less than the the 715.8 million euros that analysts anticipated. The lender expects its cost of risk for the year at between 1.6 billion euros and 1.85 billion euros, or about half its 2020 level. Many big European lenders have bolstered profit by stashing less money for doubtful loans than last year or by freeing up reserves. Deutsche Bank AG, Banco Santander SA and Lloyds Banking Group Plc are among the firms to argue that rosier economic prospects justify such moves.SocGen’s CET1 ratio, a key measure of its capital strength, rose to 13.5%, above analysts estimates. The bank expects the Lyxor deal to have a positive impact of about 18 basis points on its core capital ratio, while share buybacks should have a negative impact of 13 basis points.Other highlights of SocGen’s earnings:Revenue EU6.24b vs EU5.89b est.Global Markets EU1.65b vs. EU1.31b est.Fixed Income & Currencies EU625m vs. EU569.7M est.Equities & Prime Services EU851m vs. EU572.7M est.CET1 Ratio 13.5% vs. 12.99% est.Net income EU814m vs. EU258.3M(Updates with CEO comment in third paragraph, provisions in 11th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Oil climbed toward $70 a barrel as traders assessed an uneven recovery in global demand, with falling U.S. stockpiles pointing to rising consumption even as virus-hit India struggles.Global benchmark Brent, which just failed to top that level on Wednesday, was 0.3% higher after erasing an early decline. While major crude importer India is battling a record coronavirus wave that’s sapped economic activity, there are signs of rising oil consumption in the U.S., Europe and China. Data Wednesday showed American stockpiles declined last week to the lowest since February.Oil has rallied in 2021 as key economies including the U.S. and China rebound from the impact of the pandemic, fanning energy demand. The strength in crude forms part of a broad advance in raw materials, with the Bloomberg Commodity Spot Index surging to the highest level in almost a decade.Still, the outbreak has rapidly worsened in India since the start of April, and the country is now reporting more than 350,000 cases every day. Saudi Arabia’s state energy firm, Saudi Aramco, reduced June pricing to Asia by between 10 and 30 cents per barrel. The key Arab Light grade for the region was cut to $1.70 a barrel above the benchmark, from $1.80 for May.“The failure of Brent to break above $70 per barrel highlights that there is still plenty of concern over the demand outlook,” said Warren Patterson, head of commodities strategy at ING Group. “India is a worry for the market, particularly if we eventually see a national lockdown.”Elsewhere in Asia, Tokyo wants to extend a virus emergency currently in place and will seek approval from Prime Minister Yoshihide Suga, in a bid to stem a surge in infections ahead of the capital hosting the Olympics from July.Oil prices are at risk of a correction, according to Bloomberg Intelligence analyst Henik Fung, who cited the threat posed by India’s crisis as well as higher OPEC+ supply. The Organization of Petroleum Exporting Countries and its allies are raising output by about 2 million barrels a day through to July.In the U.S., government data showed crude stockpiles contracted by nearly 8 million barrels last week and exports surged, but gasoline inventories rose for the fifth straight week. Separately, pent-up travel demand in the country is seen spurring a 30% jump in jet fuel use this summer.Brent’s prompt timespread was 39 cents a barrel in backwardation on Thursday, compared with 31 cents a month ago. That’s a bullish pattern, with near-term prices trading above those further out.“While we continue to hold a constructive view on the market over the second half of this year, we do believe that in the near term that the market is getting a bit ahead of itself given the current risks,” said ING’s Patterson.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The best last-minute Mother's Day gifts you can get on sale include the cult-favorite Always pan, a Coach necklace, a Kate Spade Disney tote and more.
SpaceX managed to land its prototype Starship rocket at its Texas base without blowing it up on Wednesday, the first time it has succeeded in doing so in five attempts. The test flight represents a major win for the hard-charging company, which eventually wants to carry crew inside Starship for missions to Mars. "Starship landing nominal!" tweeted founder Elon Musk triumphantly, after the last four tries ended in big explosions. "Nominal" means normal in the context of spaceflight. The execution wasn't quite perfect, with a small fire engulfing the base of the 50 meter- (160 feet-) high rocket, dubbed SN15, shortly after landing. SpaceX webcaster John Insprucker explained this was "not unusual with the methane fuel we're using," adding engineers were still working out design issues. The flames were quickly put out with water cannons, footage showed.
HMS Severn and HMS Tamar have been deployed to ‘monitor the situation’ at the Channel Island.
The WHO Hub for Pandemic and Epidemic Intelligence has been set up in Berlin and will begin operating later this year.
New Delhi [India], May 6 (ANI): More than 17.15 crore COVID-19 vaccine doses have been so far provided free of cost to states and union territories, the central government informed on Thursday.
New Delhi [India], May 6 (ANI): West Bengal Chief Minister Mamata Banerjee's oath-taking ceremony, for the third consecutive term, was highlighted by several Urdu publications in their Wednesday editions.
Chelsea fans are waking up celebrating this morning after their side booked their place in the Champions League final with what was, if we’re being honest, a pretty comfortable win over Real Madrid. Thomas Tuchel’s side were vastly superior to the most succesful side in Champions League history and went ahead on the night through Timo Werner midway through the first half after Kai Havertz had lifted onto the crossbar.
All you need to know ahead of the second leg
Roma need a miracle comeback to progress to the final
Everything you need to know about tonight’s tie
Man Utd take a four goal advantage to Italy
Everything you need to know ahead of tonight’s tie
All you need to know ahead of the second leg