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New York times

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Toyota global output, sales down over 20% in March on coronavirus

first_imgToyota Motor’s global output and sales both fell over 20 percent from a year earlier in March as stay-at-home requests across the globe due to the coronavirus pandemic hit manufacturing activity and demand.Toyota said its global output dropped 20.6 percent to 640,973 vehicles and sales fell 23.8 percent to 681,510 units, including those sold by subsidiaries Daihatsu Motor, a minivehicle manufacturer, and truck maker Hino Motors.While Toyota’s factories in China resumed operations last month, its plants in many parts of Europe, the United States and Asia remain closed as employees stay at home in line with government requests aimed at curbing the spread of the virus. Sales and production in Japan were also sluggish due to fewer visitors to dealers and showrooms, according to Toyota.By region, sales in Asia, excluding Japan, fell 30.4 percent from a year earlier to 171,028 vehicles, while Toyota sold 155,552 units in North America, down 37 percent.The figures are expected to fall further in April after Toyota expanded factory suspensions due to the rapid spread of the virus, with consumer spending also weak at home and abroad.Toyota has temporarily halted production lines at six of its domestic factories in April, leading to a decrease of some 47,000 units. It will again temporarily stop manufacturing in May, resulting in a cutback of at least around 79,000 units.Overseas demand heavily affects Toyota’s domestic production, as it exported around 60 percent of 3.41 million vehicles manufactured domestically in 2019.Topics :last_img read more

 

World Bank: Most Commodity Prices to Drop in 2020

first_img Share BusinessCoronavirusInternationalLifestyleMoneyNews World Bank: Most Commodity Prices to Drop in 2020 by: – April 27, 2020 Sharing is caring! Share Most Commodity Prices to Drop in 2020As Coronavirus Depresses Demand and Disrupts SupplyDespite ample supplies of agricultural commodities, trade and supply chain disruptions raise food security concerns.The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said in its April Commodity Markets Outlook.Energy and metals commodities are the most affected by the sudden stop to economic activity and the serious global slowdown that is anticipated. Commodities associated with transportation, including oil, have experienced the steepest declines. Despite only moderate impact on the outlook for most agricultural commodities, supply chain disruptions and government steps to restrict exports or stockpile commodities raise concerns that food security may be at risk in places, the report says.“In addition to the devastating human toll, the economic impact of the pandemic will dampen demand and cause supply disruptions, negatively affecting developing countries that rely heavily on commodities,” said Ceyla Pazarbasioglu, World Bank Group Vice President for Equitable Growth, Finance & Institutions. “Policymakers must resist the urge to impose trade restrictions and actions that put food security at risk, as the poor would be hit the hardest.”Monthly average crude oil prices plunged 50 percent between January and March. Prices reached a historic low in April with some benchmarks trading at negative levels. They are expected to average $35 per barrel in 2020, a sharp downward revision from the October forecast and a 43 percent drop from the 2019 average of $61 per barrel. The downward revision reflects an historically large drop in demand. The decline in crude oil prices has been exacerbated by uncertainty around production agreements among the Organization of the Petroleum Exporting Countries (OPEC) and other oil producers. Energy prices overall (which also include natural gas and coal) are expected to average 40 percent lower in 2020 but see a sizeable rebound in 2021.Metal prices also fell in early 2020. The biggest declines were in copper and zinc, which are particularly associated with global economic activity. Metal prices are projected to drop 13 percent overall in 2020 as slowing demand and the shutdown of key industries weigh heavily on the market. Industrial metals would be affected the most by the global economic slowdown, in particular that of China, which accounts for more than half of global metals demand.Agriculture prices are less tied to economic growth, and saw only minor declines in the first quarter of 2020, except for rubber, which is used in transportation.  Prices are expected to remain broadly stable in 2020 overall as production levels and stocks of most staple foods are at record highs.  However, agricultural commodity production could face disruptions to the trade and distribution of inputs such as fertilizer, pesticides, and labor availability. Disruptions of supply chains have already affected emerging market and developing country exports of perishable products such as flowers, fruits, and vegetables.“This enormous shock to commodity markets and low oil prices could deliver a serious setback to developing economies and jeopardize the necessary investments in critical infrastructure that support long term growth and create quality jobs,” said Makhtar Diop, World Bank Vice President for Infrastructure. “The international community must rally together to address these setbacks by advancing interventions in diverse sources of energy, sustainable transport and access to digital infrastructure and services that allow people to stay connected during these uncertain times. This will be key to delivering vital social services, protecting jobs, supporting business and saving lives.”An analytical focus examines the impact of the COVID-19 pandemic on commodity markets. Mitigation measures taken to control the virus have resulted in an unprecedented collapse in oil demand, and supply chain disruptions could cause dislocations in the consumption and production of other commodities and imperil food security. The pandemic has the potential to affect commodity demand and supply for an extended period, the analysis finds.The plunge in oil prices provides policymakers in emerging market and developing economies with an opportunity to undertake energy-subsidy reforms. These reforms can help free spending for urgent pandemic-related purposes, discourage wasteful energy consumption, and reallocate spending to programs that better target the poor.Another analytical section looks at OPEC in the context of other similar commodity supply management agreements. Such agreements have collapsed over time under pressure from economic forces and other events, and OPEC may be subject to the same pressures.center_img Share Tweet 134 Views   no discussionslast_img read more

 

Han­cock County IMCA Stars specials are postponed

first_imgBRITT, Iowa – Each of the three Iowa Modified Speedweek specials at Hancock County Speedway have been postponed because of inclement weather.The Night of 1,000 Stars will now be held Friday, Aug. 12; The Night of 10,000 Stars on Saturday, Aug. 13, and the All Star Show on Sunday, Aug. 14 at Britt.Racing follows 6:30 p.m. hot laps Friday and Saturday and 3 p.m. hot laps on Sunday.All three Xtreme Motor Sports IMCA Modified main events boast potential winner’s checks of $10,000. The 50-lappers are qualifiers for the 2017 Fast Shafts All-Star Invitational ballot.All three events will be broadcast by IMCA.TV.More information about any of the three specials is available on Facebook, at the www.hcspeedway.com website or by calling promoter Joe Ringsdorf at 515 320-0066 or the track at 641 843-9080.last_img read more

 

Arsenal coach Emery gets two-match ultimatum

first_imgRelatedPosts No directive to constitute disciplinary committee against us — Ojudu, others ‘Army Officer’ in EFCC net for alleged multiple fraud COVID-19: NCAA to revoke erring airlines licence over non-compliance Arsenal boss, Unai Emery, has two games to save his job this week, it has been claimed.The Times said while Arsenal, who have only lost two of their opening 11 games, still sit fifth in the table, there are mounting problems for the manager.And it is suggested Emery has just “one or two games of credit” left with the Arsenal hierarchy.With the November international break fast approaching, it could be a time when the Gunners choose to act.Arsenal travel to Portugal next to take on Vitoria in the Europa League on Wednesday (3:50pm), having narrowly beaten their Group F opponents 3-2 at home less than two weeks ago.But plenty appears to be riding on next Saturday’s trip to top-four rivals Leicester (5:30pm).last_img read more

 

Joshua, Pulev set deadline for title talks

first_imgRelatedPosts Tyson Fury to Anthony Joshua: Don’t risk fighting Usyk Anthony Joshua, Okolie plot world title double Anthony Joshua wants Tyson Fury, Wilder fight Anthony Joshua and Kubrat Pulev have set a deadline for negotiations over a world heavyweight title fight, the IBF have confirmed. Britain’s unified world champion has been awaiting confirmation of his next fight after being ordered to make world title defences against Pulev and Oleksandr Usyk, his IBF and WBO mandatory challengers. But Pulev appears to be next in line for Joshua as the IBF have revealed that both fighters requested more time to agree a deal. A spokesperson for the IBF told Sky Sports: “I have just been told that the Pulev and Joshua camps have asked until January 31 to negotiate.” Promoter Eddie Hearn revealed earlier in the week that ‘everything is in play’ for Joshua, with Usyk being offered an alternative fight against Derek Chisora in London. “Conversations are ongoing with all parties to plan what’s next and it will really come to a head over the next few weeks,” Hearn told Sky Sports. “We are still awaiting clarification from the governing bodies to confirm who is chronologically next but right now everything is in play. “In terms of Usyk versus Chisora that is still a potential outcome, but March 7 is unlikely. Instead we have March 28 on hold at the O2.” Pulev, who has only been beaten by Wladimir Klitschko, was due to challenge Joshua in October 2017, only to be ruled out through injury, but regained his status as mandatory challenger following a points win over Hughie Fury. Joseph Parker has been elevated to No 2 in the WBO rankings and could target a fight with Usyk for the vacant WBO title, if Joshua was forced to relinquish the belt. “If he [Joshua] vacates the WBO, then suddenly you’ve got Usyk mandatory and I think the next available ranked boxer is Joseph Parker,” said the New Zealander’s manager David Higgins. “You could end up with a situation where you have Usyk fight Parker for the vacant title, which funnily enough is how Joseph became world champion. He fought [Andy] Ruiz for the vacant title. History repeats.”Tags: Anthony JoshuaKubrat PulevOleksandr Usyklast_img read more

 

Murphy to take up coaching role

first_imgLeicester rugby director Richard Cockerill has confirmed that Geordan Murphy will join the Tigers’ coaching staff next season. Press Association Tigers will now face Harlequins in the Premiership play-offs at Welford Road next Saturday. Murphy, who has been troubled by a knee injury for much of this season, looks set to take up a skills-based role when he starts work as a coach. “Geordan is an all-time great at this club,” Cockerill said. “He has been a major player for us for so long and has had a massive impact on the team in his time here. “He has played at the very top level of the game for a long time and has been one of the most outstanding players in the history of Premiership rugby.” Murphy made his Leicester debut in 1997 and went to score 691 points, including 93 tries. He has collected seven league titles and two European crowns. “Every player wants to play on forever but, unfortunately, your body just doesn’t let you do that,” Murphy said. “It is with a very heavy heart that I have had to accept defeat and announce that I will retire from playing this season. “I have been very lucky with Leicester to win a fair amount of silverware, and I am looking forward to looking back on that at some stage – it still hasn’t really sunk in. I have a lot of good memories that I will be able to look back on with great affection. “The best part of playing is the players, the mates that I have made through rugby. I’m very lucky that some of my best friends in life are guys that I have met through rugby and played with and played against. Welford Road is a very special place. It is very dear to my heart, as are the supporters.” center_img Full-back Murphy, 35, announced his playing retirement at the end of the current campaign. He won 72 caps for Ireland, played in two British and Irish Lions Tests and made his 322nd Leicester appearance in last weekend’s Aviva Premiership clash against London Irish. Cockerill said: “Although he has announced the end of his playing career this summer, he will be joining the coaching team here next season and we look forward to his continued involvement.” last_img read more

 

BRAVA lubricants racing Evo to make debut Sunday

first_imgGROUP three competitor Stefan Jeffrey will debut the BRAVA lubricants Mitsubishi Evolution in the newly announced MOTUL time attack series.Jeffrey, who spoke to the media yesterday, explained that mechanical difficulties have once again sidelined the Automotive Art ‘Unruly’ Honda Civic but he will be racing.The ‘street-ed’ out Mitsubishi Evolution IX is one among many road cars that will form part of the new series, organised by GMR&SC.“Those who know the Evo know what it produces, but for those fans who are going to see it for the first time, we are going to `definitely blow some minds.”“It’s a fully street legal car, it’s also my daily car that I drive and I want people to see that the same BRAVA lubricants that I use in my race car, I also use in my daily driven car.”Stefan’s team of mechanics includes Justin Jardine, Kris Gonsalves, Mario Jardine, Junior Jacobs, while his sponsors include Automotive Art, Brava Lubricants and Cristal car care products.The event begins at 09:00hrs. Admission for adults is $1 000 and children $500.Sponsors include E-Networks, Tropical Shipping, BM Soat Auto Sales, Mohamed’s Enterprise, Miracle Optical, Choke Gas Station, Special Auto, Prem’s Electrical, Nexus Machine Shop, Blue Spring Water, Motor Trend, Ramchand Auto Spares, Power Line Automotive and KGM security.last_img
 

iPodia Global program expands distance learning

first_imgThrough iPodia, students from different cultures and time zones and can come together — in the classroom.The iPodia classroom, a program through the Viterbi School of Engineering, connects USC students with those from China, Korea, Israel, Germany and other countries.Global learning · Viterbi Dean Yannis C. Yortsos and Professor Stephen C. Lu joins forces to expand the iPodia Global Program. — Courtesy of the Viterbi School of Engineering The work coincides with the university’s new partnership with the University of São Paulo in São Paulo, Brazil. A delegation of university deans and trustees led by President C. L. Max Nikias traveled to São Paulo earlier this week to open the university’s eighth international office.Professor of Industrial and Systems Engineering and iPodia Director Stephen Lu conceived the program when he saw a need to revolutionize the classroom environment. Though, traditionally, students attend lectures and complete homework to understand concepts, in an iPodia classroom, students review the lectures for homework and come to class for interaction and discussion.“Interaction gives you a good way to learn contextual understanding as well as mutual understanding,” Lu said. “If you have a chance to learn with different people from different countries, you learn in a different context.”Through the Internet, students are able to learn in the same classroom with professors on the other side of the world. The university will host two online course sessions, with each session involving USC and two other universities.Session A involves a partnership with Peking University in Beijing and the Korean Institute of Science and Technology in Daejeon, South Korea. Session B will include students from the Technion-Israel Institute of Technology in Haifa, Israel and the RWTH Aachen University in Aachen, Germany.Lu was inspired to create iPodia by his own time abroad, when he came to the United States as a student 35 years ago.“I sat in the back. I didn’t speak in class or share my culture because I was so overwhelmed,” Lu said. “The iPodia experience, however, allows students to feel more comfortable sharing their opinions because they are in familiar surroundings.”Lu said the structure of this learning should not be considered distance learning. Rather, he considers it a method of using technology to eliminate distance and differences between learners.“You are able to achieve a classroom without borders,” Lu said. “It is the next wave of distance learning. This is a simple idea, but with a huge implication.”Not only does iPodia use video conferencing in a new way, but it also reconsiders how material is taught. Lu refers to this method of teaching as “inverted learning.” Kes Rittenberg, a freshman majoring in business administration who spent time with iPodia students in Korea, said he has already felt the impact of learning with international students.“It was interesting to see how even though we all come from very different backgrounds, we still have some strong undeniable similarities,” Rittenberg said.The course unfolds in three phases. Students watch the lectures from home discuss the lessons with the class online. Conferencing with international universities will start in phase two, beginning on March 16. The culmination of the semester will take place in Korea at a conference for all iPodia students.Some students, including Stephen Collins, a senior majoring in electrical engineering, felt the time spent with the Korean students helped them orient themselves with the rest of the class.“Whether I’m Skyping with a new classmate from Haifa, Israel, or trying to interpret a crazy emoji in our KakaoTalk chatroom from a classmate in Korea, I’m constantly surprised and excited by the interactions I’m able to have,” Collins said.Lu proposes this as an alternative to global studies and the next step in the university’s globalization efforts.“Instead of USC going to the world, iPodia brings the world to USC,” Lu said.last_img read more

 

Miss World 2019 Toni-Ann Singh Appointed As Ambassador for Jamaica

first_imgKINGSTON, Jamaica – Miss World 2019, Toni-Ann Singh has received a diplomatic passport and been appointed as Ambassador for Jamaica by the Jamaican government.The announcement was made by Prime Minister Andrew Holness, who said via his official Facebook page that the documents were presented to Singh on Monday.“I officially presented the documents to Toni-Ann this morning during a courtesy call which she paid at my offices,” said Holness via his Facebook page.With the passport and appointment, Singh will be able to travel the world with the blessings of her country, as well as adding value to both the Miss World organisation and Brand Jamaica.The courtesy call on Holness came a day after Singh toured sections of St Thomas, the parish from which she hails.Her first stop in the parish was at Yallahs, where people were out hours before her scheduled 10 am arrival time.Speaking to the crowd from a stage that was mounted in Yallahs Square, Singh greeted the citizens and thanked them for their rousing support.“I see all of you out here and my heart is just full. I cannot believe it. Thank you so much,” she said to loud cheers.last_img read more