English & Overseas in takeover sights

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Monkey wrench

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Britain unveils fresh $37b package to stimulate economy

first_imgThe United Kingdom government on Wednesday unveiled a package worth 30 billion poundsterling (US$37 billion) to save jobs, help the young into work and kickstart the British economy ravaged by the coronavirus pandemic.Delivering a mini-budget to parliament, finance minister Rishi Sunak’s announced measures including bonuses to companies retaining staff and taking on apprentices, investment in ‘green’ jobs and even allowing the whole country to enjoy discounted meals in restaurants.  “People need to know that although hardship lies ahead, no-one will be left without hope,” said Chancellor of the Exchequer Sunak. Noting that “people are anxious about losing their jobs, about unemployment rising”, Sunak said: “We’re not just going to accept this.” But he insisted that the government’s furlough scheme already in operation to protect millions of private-sector jobs had to end in October. Other measures announced by Sunak include a temporary cut to value added tax on food, accommodation and attractions – and a higher  threshold for stamp duty on home purchases to help the construction sector.’25 percent contraction’ Britain has suffered Europe’s deadliest outbreak of COVID-19 and a nationwide shutdown led to the worst economic downturn among the G7 leading industrialized states.Sunak said the UK economy had contracted by 25 percent over the coronavirus lockdown – “the same amount it grew in the previous 18 years”.The chancellor also confirmed 3 billion poundsterling of green investment, after British Prime Minister Boris Johnson vowed to “build, build, build” out of the economic crisis.The investment package includes 2 billion poundsterling in grants for households to insulate homes and make them more energy efficient, and 1 billion poundsterling for public sector buildings, including hospitals.The plan is part also of Britain’s long-term pledge to reduce carbon emissions to net zero by 2050 to tackle climate change.Britain imposed a nationwide lockdown on March 23 to halt the spread of COVID-19 but has gradually begun easing restrictions to help ailing businesses, including pubs and hair salons.Recent official data show the UK’s biggest quarterly contraction for more than 40 years – at minus 2.2 percent – in the January-March period.However, the data included only the first full week of the lockdown – and Sunak suggested Wednesday that the second quarter was far worse.Since the crisis began, the Bank of England has pumped cash stimulus worth 300 billion poundsterling into Britain’s economy and slashed its main interest rate to a record-low 0.1 percent – moves aimed at propping up businesses and saving jobs.Experts estimate the total cost of government emergency measures could also run as high as 300 billion poundsterling.The government’s fresh jobs retention plans unveiled Wednesday meanwhile build on its furlough scheme, under which the state is paying up to 80 percent of salaries for some nine million workers.Sunak on Wednesday said the furlough scheme “cannot and should not go on forever”, telling MPs: “I know that when furlough ends it will be a difficult moment… But the truth is, calling for endless extensions to the furlough is just as irresponsible as it would have been, back in June, to end the scheme overnight. “We have to be honest,” he said.center_img Topics :last_img read more

Palace tightens protocols following COVID-19 scares

first_imgHealth protocols have been more strictly enforced on the grounds of the Presidential Palace, including for state guests and embedded journalists, following repeated incidents of COVID-19 infection in close proximity to President Joko “Jokowi” Widodo.Presidential Secretariat head Heru Budi Hartono said that his office would take no chances in order to minimize the risk of transmission, as guests of the President are now obliged to undergo multiple COVID-19 tests.“Whoever will meet the President in person will need to undergo a swab test [prior to the meeting] and a rapid test on the day, even though they have already been tested,” Heru said in a recent statement to the press. He also gave an assurance that physical distancing measures, proper face cover with masks and handwashing protocols were also being very strictly enforced.The secretariat saw the shift in protocol after it emerged that two regional leaders were confirmed to have contracted the disease just days after meeting with Jokowi.Riau Islands Governor Isdianto tested positive with COVID-19 four days after attending a swearing-in ceremony at the State Palace on July 27, while Surakarta Deputy Mayor Achmad Purnomo was tested on July 18. His results came back positive on July 23 – a week after meeting the President on July 16.Jokowi himself took a swab test the same day and Achmad revealed to the press that he was infected with the disease, and palace officials were quick to dismiss any more speculation that the President may be infected as well. Prior to the two cases, palace officials had announced that Transportation Minister Budi Karya Sumadi had contracted the coronavirus on March 14. He was eventually discharged from Gatot Subroto Army Hospital (RSPAD) in Central Jakarta on April 15.The recent cases that occurred so close to the nation’s leader should serve as a wake-up call for officials working in the palace complex, said Pandu Riono, an epidemiologist at the University of Indonesia.“There should be a protocol for state activities during the pandemic era,” Pandu told The Jakarta Post on Thursday. “The regulations should be reviewed and better testing tools should be used if they are available.”He said that consistency was key in implementing strict protocols, stressing that any gesture of compliance by Jokowi would play a significant role in ensuring that the message would get across to the general public.“Everyone – without exception – should wear masks, particularly in certain situations such as state ceremonial events. In any kind of event, the President should lead by example by wearing masks correctly and consistently,” said Pandu.Jokowi and some of his ministers have drawn criticism after a photo of a Cabinet meeting held on Aug. 3 showed the President without a mask as he led the briefing with his Cabinet members.Heru argued that the President and his ministers had fulfilled the necessary protocols and that they were “putting the masks on and off” during that meeting because it would often muffle their voices when speaking.Acrylic partitions were also installed on the table separating Jokowi and his ministers in order to minimize the risk of transmission, Heru added.COVID-19 transmissions have shown little signs of easing in Indonesia. On Thursday, the Health Ministry announced 2,098 new confirmed cases, bringing nationwide case numbers to 132,816. As many as 5,968 people have succumbed to the disease as of Thursday, the data revealed, with 887,558 people having recovered from the virus.The stricter health protocols also apply to members of the press that report from the Presidential Palace complex. Journalists now need to show proof of having undergone rapid tests in the last two weeks when they visit the palace.Meanwhile, those who are embedded in the presidential entourage for Jokowi’s official trips will get a polymerase chain reaction (PCR) test from the secretariat.“Due to the high [rate] of COVID-19 transmissions, we are more thorough in [implementing health protocols]. But access for news gathering will not be reduced as there are technologies that can be used [to compensate for it],” said Bey Machmudin, deputy head for protocol, press and media at the Presidential Secretariat.Separately, the chairman of the Alliance of Independent Journalists (AJI), Abdul Manan, said it was understandable that media access to the President was slightly restricted during the current pandemic.He said, however, that officials should instead hold regular press briefings to ensure that information can still be relayed to the public.Topics :last_img read more

Why Chelsea’s season is in danger of unravelling under Maurizio Sarri

first_img CommentShare this article via facebookShare this article via twitter1.1kShares By Ewan Roberts, Deputy sports editorMonday 11 Feb 2019 11:30 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link1.1kShares At any other club, being one point off the top four places while trying to install a very defined, attacking style of play in your maiden campaign would be considered a promising start. But not Chelsea. After Sunday’s 6-0 thrashing at the hands of Manchester City, Maurizio Sarri is fearing for his future after barely seven months in the job.Admittedly, the nature of recent defeats, and performances, is worrying. This was Chelsea’s worst defeat since losing 7-0 to Nottingham Forest in 1991 and marks their third consecutive away defeat. All have been trouncings. After going unbeaten in their first 12 Premier League matches under Sarri, the wheels have firmly come off. So where has it all gone wrong?…AdvertisementAdvertisementFailing to adapt his philosophy The make-up of the team is still largely geared towards Conte’s pragmatic football and his 3-4-3 formation. Sarri switched to a flat back four but without a left-back to play in it, while his midfield three needed a goalscorer of the Marek Hamsik ilk as much as it needed the playmaking ability of Jorginho. Chelsea have ageing players in key positions, centre-backs not adept at defending space in behind them and a tepid midfield. Even the loan signing of Gonzalo Higuain has a major whiff of short-termism about it.Chelsea have only half backed their manager. ‘People don’t understand how difficult it is,’ said Guardiola after Sunday’s game. ‘It needs time. It depends on the belief from the owners, the people who are in charge.’ Six of the City XI that started against Chelsea were signed by Guardiola. In just under three years, he has spent almost £500m. It takes world-class players to play world-class football, and Sarri doesn’t have enough at his disposal.Should Chelsea get rid of Maurizio Sarri?Yes – sack him!0%No – he needs more time!0%Share your resultsShare your resultsTweet your resultsMore: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalEx-Arsenal scout claims Mikel Arteta will give Thomas Partey a new role But Sarri has not adapted. The Italian appears to be even more dogmatic than Guardiola and continues to persist with the exact same ideas, formation and personnel – even his kick-off routines never change. A defence that shipped four goals at the Vitality Stadium, and was well beaten by Arsenal before that, needed to be solidified. Instead Sarri tried to beat a City side far deeper into their development at their own game and was ruthlessly exposed.The Kante-Jorginho conundrum Sarri on whether he will alter his plans ‘Why? I want to do well playing plan A. I don’t want to change something that at the moment doesn’t work very well. I want to see my football played very well. Then we can change something.’ Advertisement In pressing high and leaving space in behind, Chelsea played into City’s hands (Picture: Getty)Sarri has spoken frequently about the lessons he has tried to learn from Pep Guardiola, who had a mixed debut season in the Premier League when trying to install his own exacting style of play – it was the Catalan, in fact, who suggested that his counterpart stick to a core of just 14 players when trying to impose his philosophy at the club. But one aspect of Guardiola’s management Sarri has failed to appreciate is how much he adapted to English football.Manchester City had plenty of setbacks in that first campaign under Guardiola – notably a 4-0 drubbing at Goodison Park – and he duly tweaked his ideas. More physicality was brought into the team: two rapid full-backs, the tireless energy of Bernardo Silva and height across the back-line. He even spent weeks in training getting his side to manage second balls better. The champions are unquestionably a more fearsome and powerful unit as a result. Guardiola’s signings vs Sarri’s signings Chelsea signings under Sarri: Jorginho, Kepa Arrizabalaga, Mateo Kovacic (loan), Gonzalo Higuain (loan). Total spend: £128.6mMan City signings under Guardiola: Ilkay Gundogan, Nolito, Oleksandr Zinchenko, Leroy Sane, John Stones, Claudio Bravo, Gabriel Jesus, Bernardo Silva, Ederson, Kyle Walker, Danilo, Benjamin Mendy, Aymeric Laporte, Riyad Mahrez. Total spend: £487.2m Sarri made two transfers while Guardiola has added 14 players to his first-team squad (Getty)This is not so much a failing of Sarri as it is the whole Chelsea structure and mindset. Had Antonio Conte not left Stamford Bridge, he would have looked to cull as many as 10 first-team players – in truth, Sarri has done much the same by ostracising a number of fringe players (Danny Drinkwater notably has not played a single minute of football), though without bringing in any replacements.AdvertisementAdvertisementThe Italian made two major signings in the summer, with Jorginho also swapping Naples for west London and Kepa Arrizabalaga becoming the most expensive goalkeeper in history. The Spaniard, as has been the case several times this season, could have done more to prevent several of Manchester City’s goals on Sunday – particularly Ilkay Gundogan’s rather tame effort from the edge of the area. Moreover, his arrival did not strengthen the squad, merely replacing Thibaut Courtois. That decision was particularly highlighted by Fernandinho at the Etihad. Even Guardiola, lauded as a benchmark by Sarri, understands the importance of having a solid, imposing, defensive presence at the base of his midfield – at times this season he has even used John Stones there. The Brazilian recorded eight combined tackles and interceptions on Sunday; Jorginho just half that. In continuing to use Kante further forward, Sarri is criminally wasting one of his greatest weapons.Not strengthening the squad Jorginho had another poor game against a top-six side as Man City ran riot (Picture: Getty)It continues to be one of the most perplexing elements of Sarri’s management at Chelsea. Once again, Sarri tasked Jorginho with sitting at the base of his midfield while N’Golo Kante – the best defensive midfielder in the Premier League, and arguably Europe – was pushed into a more advanced role on the right side of a midfield three.Sarri insists he needs a ‘very technical’ player in the central midfield role in his team and does not believe Kante is capable of dictating the side’s rhythm and tempo. But Kante’s ability to snuff out danger and protect his defence feels exponentially more important than Jorginho’s short, safe passing. Even the fact that he lines up on the right, rather than the more vulnerable left – where Marcos Alonso and Eden Hazard are perhaps Chelsea’s worst, least switched-on defenders – is baffling.N’Golo Kante’s combined tackles + interceptions per match in his last five league campaignsLeicester 2015/168.90Caen 2014/157.70Chelsea 2016/176.10Chelsea 2017/185.80Chelsea 2018/193.20 Share Why Chelsea’s season is in danger of unravelling under Maurizio Sarri Advertisementlast_img read more

Tottenham star Jan Vertonghen leaves Ajax stadium on crutches after incredible Champions League comeback

first_img Comment Tottenham star Jan Vertonghen leaves Ajax stadium on crutches after incredible Champions League comeback Advertisement Jan Vertonghen left the Johan Cruijff ArenA on crutches after Tottenham’s Champions League win over Ajax (Picture: HLN)Tottenham star Jan Vertonghen faces a race to be fit in time for next month’s Champions League final after he was pictured leaving the Johan Cruijff ArenA on crutches.Mauricio Pochettino’s side booked their place in Madrid at Ajax’s expense after a stunning comeback, capped by Lucas Moura’s dramatic 96th minute goal which sparked incredible celebrations among disbelieving Spurs fans, players and staff alike.Vertonghen, a former Ajax player, according to HLN, suffered an ankle ligament injury during the first half and left the stadium on crutches as a precaution.Spurs face Everton on the final day of the domestic season where only a defeat, an Arsenal victory over Burnley and an eight-goal swing would prevent them from finishing in the top four.AdvertisementAdvertisementADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City Pochettino reacts to stunning Spurs comeback against AjaxTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 13:24FullscreenPochettino reacts to stunning Spurs comeback against Ajaxhttps://metro.co.uk/video/pochettino-reacts-stunning-spurs-comeback-against-ajax-1921690/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Belgium international Vertonghen has been a cornerstone of Tottenham’s defence this season alongside compatriot Toby Alderweireld, and would have been a certain starter against Liverpool in three weeks’ time.On a brighter note, Harry Kane appears to be winning his fitness battle after he was seen running onto the pitch unhindered to join in the post-match celebrations, having missed the last month with an ankle injury.‘Hopefully,’ he told BT Sport when asked if he’d be back for the final. ‘Rehab is going well so far.‘I start straight line running this week. That’s why I was okay to straight line run today, I didn’t want to cut any corners.‘We’ll just see. So far, so good. If it carries on like it should, I’d hope to be. There’s still a few weeks to go.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenalcenter_img Metro Sport ReporterThursday 9 May 2019 12:41 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link Advertisementlast_img read more

The owners of this Brisbane home walked away with over $1m today

first_img76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.auTHE owners of this ordinary Brisbane home have walked away with over $1m today – and signs are good that many others in the neighbourhood could follow suit. 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.auThe four bedroom home built in 1960 at 76 Effingham Street, Tarragindi – 15 minutes outside the Brisbane CBD – settled for $1.005m today. 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.auMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agoAgent Ben Jackson of Metro City had marketed the home as one where the owner was willing to meet the market, and highlighted the fact that it was on two lots in an up-and-coming growth suburb. 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.au“We anticipate it will keep happening. It’s an extremely popular area for redevelopment.”Among other recent sales in the area was a five bedroom home at 154 Tarragindi Rd, Tarragindi, that sold for $916,619 last week.center_img 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.au“The owners are over the moon and the buyers are excited. This was a post war family home and some builders bought it to subdivide the land and build two luxury homes,” he said. 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.au“It’s what’s happening in that whole street. A lot are 800 to 900sq m blocks in the area.”Around 10 such sales had been completed in the suburb, according to Mr Jackson, with many more expected to follow.last_img read more

Ex-Subsea 7 man to take chief executive role at DeepOcean

first_imgOffshore services provider DeepOcean has chosen a new chief executive officer (CEO) of the company.DeepOcean said on Wednesday that Øyvind Mikaelsen was named as the company’s new CEO. He will take on the position on May 2 and will be based in Haugesund, Norway.Mikaelsen was most recently the executive vice president at Subsea 7 and has 30 years of experience in the global subsea business holding various senior executive roles.He began his career in the oil and gas industry with Kvaerner Rosenberg in 1988. Mikaelsen then moved to Norske Shell before joining Subsea 7 in 1992.As a result of the appointment, current DeepOcean interim CEO Ottar K. Mæland returns to his responsibilities as the chief operating officer.It is worth noting that Mæland took over as interim CEO after Bart Heijermans decided to step down from his position as CEO in November 2017.Terje Askvig, DeepOcean chairman, said: “We are very happy to welcome Øyvind Mikaelsen on board. During his career, he has an impressive international track record of building strong customer focus, delivering operational excellence and strategic positioning in our industry. Øyvind shares our vision of making DeepOcean the leading global life of field subsea service provider in the oil & gas and the offshore renewables sectors with a solid commitment to safety and quality.“I also want to extend the board’s gratitude to Ottar K. Mæland in moving the company forward as interim CEO with excellent stewardship.”Regarding his appointment, Mikaelsen said: “DeepOcean is known for its can-do attitude and agile organization, and I am very excited about this appointment. I look forward to adding my experience from the global subsea industry and continue to build the company together with the team.”last_img read more

India’s 1st Floating LNG Terminal Inaugurated

first_imgThe vessel is equipped with the re-gasification capacity to operate the project at around 4 million tons per annum.H-Energy said the FRSU sets a new era in Indian LNG industry.“Growth has to percolate to the common man and has to contribute to the progress of the nation,” Niranjan Hiranandani, Chairman of the Hiranandani Group said at the launching ceremony.The terminal was officially inaugurated by Chief Minister of Maharashtra, Shri Devendra Fadnavis.In addition to providing the country with gas, a technical modification of the vessel is planned, aimed at enabling bunkering vessels to load LNG.In this way, the vessels in Maharashtra ports will be able to become compliant with the IMO’s Sulphur Regulations set to enter into force in 2020.H Energy has an option to extend the charter agreement beyond the initial term.Image Courtesy: H-Energy Indian’s first floating liquefied natural gas (LNG) terminal was inaugurated on May 1 by the country’s gas company H-Energy, a unit of Hiranandani Group.Eni’s floating storage re-gasification unit (FSRU) GDF SUEZ Cape Ann was hired for the job in 2017.The 145,000 cbm FSRU, which was hired for a minimum period of 5 years, arrived at the LNG re-gasification project at Jaigarh port in Maharashtra on the west coast of India, on April 30.last_img read more

WoodMac sees huge growth potential in UK following Chrysaor-ConocoPhillips deal

first_imgWood Mackenzie, an energy intelligence group, sees huge growth potential in the UK North Sea region following Chrysaor’s acquisition of ConocoPhillips’ UK business announced on Thursday. WoodMac added it would not be surprised to see Chrysaor make further moves to bolster its production outlook.Jasmine asset; Source: ConocoPhillipsTo remind, oil major ConocoPhillips on Thursday entered into an agreement to sell two ConocoPhillips United Kingdom subsidiaries to Chrysaor for $2.675 billion, plus interest and customary adjustments.Full-year 2018 production and year-end 2018 proved reserves associated with the U.K. assets being sold were approximately 72 thousand barrels of oil equivalent per day (MBOED) and approximately 99 million barrels of oil equivalent (BOE), respectively.This acquisition increases Chrysaor’s pro forma 2018 production to 177,000 boepd, making Chrysaor one of the largest oil and gas producers in the UK North Sea.Commenting after Chrysaor agreed to buy ConocoPhillips’ North Sea assets in a $2.7 billion deal, Romana Adamcikova, Wood Mackenzie senior analyst, North Sea upstream, said: “This deal will make Chrysaor the top producer in the UK in 2019 and keep it among the UK’s largest producers for the next few years.“Considering the company was a relatively small producer before it acquired a batch of assets from Shell in 2017, this is a story of incredible growth.”Namely, Shell sold its UK North Sea assets to Chrysaor in 2017 for a fee of up to $3.8 billion, including an initial consideration of $3bn and a payment of up to $600m between 2018- 2021 subject to commodity price, with potential further payments of up to $180m for future discoveries.Adamcikova said that the Chrysaor-Conoco deal continues a theme seen across the North Sea in recent years with regionally focused, private companies acquiring assets from larger, international players.Chrysaor has already shown it is willing to take older assets and invest to increase production with its efforts at the Greater Armada Area, which was due to be decommissioned before Chrysaor acquired it from Shell in 2017.“It could take a similar approach here, particularly with it now becoming operator at the Britannia and J-Area hubs in the Central North Sea, which have potential for further growth,” she said.“ConocoPhillips is shifting its focus towards lower cost opportunities elsewhere in the world, particularly in the US. Among such a wider global portfolio, UK fields would have struggled to compete for capital.“Chrysaor also gains a stronger presence in the West of Shetland with a stake in Clair. It already had an interest in the Schiehallion field. There is huge growth potential in the region and it wouldn’t be a surprise to see Chrysaor make further moves in the near future, to bolster its mid- to long- term production outlook.”It is also worth mentioning that another major deal has been made recently which, once complete, will see Chevron become the second-largest producing major, in 2019 terms, according to WoodMac. This will be achieved through Chevron’s acquisition of Anadarko Petroleum in a deal valued at $33 billion, or $65 per share.Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.last_img read more