The champions crashed to a fifth straight defeat in all competitions – something not experienced by the club in more than 18 years – as they were thrashed 4-0 by Tottenham at the Etihad Stadium on Saturday. The loss, which was also a third in succession in the Premier League and shattered a 52-game unbeaten home run, damaged the club’s hopes of winning an unprecedented fifth title in a row. It is the worst run of Guardiola’s glittering managerial career and the City boss, who extended his contract until 2027 last week, is determined to turn the situation around. The Catalan said: “When we start to lose I say to the people I have to find a way, I have to. It’s my duty, my responsibility, to find a way to be more consistent, that our game will be better and win games. “This is what we have to do.” City have been hampered by injuries to key players in recent weeks, particularly by the absence of Ballon d’Or-winning midfielder Rodri, who has been sidelined for the remainder of the season. Problems have emerged at both ends of the field with a lack of clean sheets – just five in 19 outings this term – and a shortage of goals being scored on occasions, like Saturday, when the prolific Erling Haaland has an off-day. Guardiola said: “We don’t expect to lose important players but it’s happened and you have to find a way. We have to find other abilities. “I don’t think we didn’t create enough chances. We created a lot of chances, clear ones at 0-0, 0-1, 0-2. “Of course we want a lot of players to score but it’s happened now. “I know at the Etihad when we are there and we score goals our momentum is there, but now we are not solid enough. That is the truth. “In both sides normally we are solid but we concede the goals. Now in both sides we are not good enough. “In these situations, what do you have do to? Keep going my friends, keep going. “We have done it in the past – not in terms of results being as bad as now – but we have done it and we face the situation and move forward.”Intrusion Detection System Market to USD 11.43 Billion by 2032, Owing to Increasing Demand for Enhanced Security Solutions | Research by SNS Insider
Fitch Ratings has upgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC+’, from ‘RD’ (Restricted Default). Fitch typically does not assign an Outlook to sovereigns with a rating of ‘CCC+’ or below. Fitch has also upgraded the Local-Currency IDR to ‘CCC+’, from ‘CCC-‘, to align with the Long-Term Foreign-Currency IDR, as the risk of another default on local-currency debt has been reduced by the completion of the international sovereign bond restructuring and an improved outlook for macroeconomic indicators. Sri Lanka completed the local-currency portion of its domestic debt optimisation in September 2023, following the exchange of treasury bills and provisional advances held by Central Bank of Sri Lanka’s into new treasury bonds and bills. The upgrade of the Long-Term Foreign-Currency IDR reflects Fitch’s assessment that Sri Lanka has normalised relations with a majority of creditors, after the announcement of final results of the invitation to exchange the outstanding stock of international sovereign bonds with a 98% participation rate. One bond series with non-aggregated collective action clauses did not meet the required 75% level. Without this bond series, the acceptance results imply a restructuring of 96% of total commercial external debt. The debt exchange will convert 11 international sovereign bonds and accumulated past due interest (PDI) into a mix of four macro-linked bonds, one governance-linked bond and one PDI bond. Bondholders can choose the local alternative governed by domestic law, with rupee-denominated bonds and a US dollar bond with step-up coupon payments. Sri Lanka is also restructuring debt to commercial and official creditors. An agreement in principle has been reached with most commercial creditors including international banks for an amount of about USD200 million. Restructuring of debt owed to official creditors is expected to be completed by end-2024. Improved External Finances: Sri Lanka’s foreign-currency debt restructuring offers substantial upfront debt repayment relief, with no foreign-currency bond maturities until 2029. The first amortisation on the macro-linked bonds, which have low coupon rates until 2032, starts from 2029. Governance linked bond amortisation begins in 2034 and the US-dollar step-up bonds start amortisation in 2029. We expect foreign-exchange reserves to reach USD8.7 billion by 2026, also reflecting debt relief over the period. The debt restructuring has reduced the government’s debt service burden and liquidity risks, but general government debt/GDP and the interest/revenue ratio are likely to stay high in the medium term. The restructuring under Fitch’s baseline assumptions lowers general government debt/GDP to about 90% by 2028, while Fitch forecasts the interest/revenue ratio to decline to 42%, still well above the ‘CCC’ median of 16%. This is, however, a large drop from the 67% in 2021, prior to the sovereign default. Sri Lanka has a weak long-term revenue raising record, but the government implemented several major tax measures to boost revenue collection and achieve debt sustainability. Fitch expects general government revenue/GDP to exceed 15% by 2026, from 11% in 2023, broadly in line with IMF programme projections. Downside risks could be substantial if the government fails to raise revenue. Strong Mandate from Election Outcome: Sri Lanka’s September 2024 presidential election was won by a leader of the opposition National People’s Power, which secured over two-thirds majority in the legislature. Fitch expects the new government to support progress on reforms. The new government has said it will continue to implement the 48-month IMF extended fund facility, which began in March 2023. Sri Lanka has made major progress on the programme under the previous government. Sri Lanka’s economy is recovering after a contraction in 2022 and 2023. In seasonally adjusted terms, real GDP growth in 3Q24 recovered to 5.2%, after contracting by 7.4% in 2022 and 2.2% in 2023. This was driven by an 11.1% pick-up in industrial growth, while services grew by about 2.8%. We expect growth to recover to 4.1% in 2024 and average 3.6% over 2025-2026. The Central Bank’s policy measures have largely reversed a rise in inflation, which peaked in September 2022 at 67.2% (seasonally adjusted). Inflation continues to decline, falling to -2.1% yoy in November 2024. The central bank has eased monetary policy significantly, reducing the standing deposit facility rate by a cumulative 800 bp since June 2023. Fitch expects further easing over 2025-2026, in line with its expectation that underlying inflationary pressure will remain muted and the central bank will meet its medium-term inflation target of 5.0%. Economic reforms implemented since the crisis period have improved headline macroeconomic metrics, reduced systemic risks and support banks’ operating flexibility. Asset quality stress has peaked and declining credit costs are driving higher profitability. Pressure on foreign- and local-currency funding and liquidity has eased on better external flows and banks’ efforts to preserve liquidity. Fitch expects banks to regain access to foreign-currency wholesale funding, following the restoration of the sovereign’s creditworthiness. Sri Lanka has an ESG Relevance Score of ‘5’ for Political Stability and Rights as well as for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption. These scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in Fitch’s proprietary Sovereign Rating Model (SRM). Sri Lanka has a medium WBGI ranking in the 38th percentile, reflecting a recent record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption. Factors that could, Individually or collectively, lead to negative rating action/downgrade -Public Finances: An increase in government debt/GDP, potentially reflecting an inability to further raise revenue, resulting in wider budget deficits. – External Finances: Inability to rebuild foreign-exchange reserves that weakens debt repayment capacity.
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DeRozan, Sabonis help Kings rout Spurs 140-113, with Wembanyama sidelined by injury'Modi-Modi' Slogan Raised by People at the Hala Event in Kuwait | WATCHIT and banking played a pivotal role in capping losses and driving the recovery in the benchmark. Broader indices also edged higher, with gains ranging between 0.9 per cent and 1.8 per cent Mumbai: Domestic stock markets are expected react, when it opens on Monday,to the recent election outcomes in Jharkhand and Maharashtra as well as domestic macroeconomic data and foreign Institutional fund flows, according to the market analysts. The market analysts say that the bi-monthly Monetary Policy Committee (MPC) which will take place in the first week of December will also have an impact of the activities of the investors, as analysts anticipate a 25-bps rate cut amid concerns of slowing economic growth and moderating inflation. The last trading session in the market ended with decent gains, offering relief after weeks of correction.Despite a negative bias for most of the week due to persistent FII selling, Friday's sharp recovery, led by bargain hunting in index heavyweights, helped indices close near their highs. The Nifty and Sensex gained nearly 2 per cent, ending at 23,907.20 and 79,117.10, respectively."Markets will first react to the outcomes of the Maharashtra and Jharkhand elections. Additionally, macroeconomic indicators, including GDP and infrastructure output, will garner significant attention. Participants remain focused on FII fund flows, given their ongoing selling spree," said Ajit Mishra, SVP, Research, Religare Broking Ltd."Looking ahead, the RBI's meeting from December 4th-6th is generating significant interest, with analysts anticipating a 25-bps rate cut amid concerns of slowing economic growth and moderating inflation," said Manish Goel, Founder and MD, Equentis observing the markets. Goel further added that the upcoming week is likely to bring heightened volatility and cautious trading as investors navigate political uncertainties, economic data releases, and corporate developments.Observing the mood of the market, Joseph Thomas, Head of Research, Emkay Wealth Management stated that despite the up seen in the market during the trading sessions, it remains to be seen to what extent the current momentum is going to be sustained next week."The Russia-Ukraine conflict, the Middle East situation which is still awaiting resolution, local election results in crucial states etc. are all factors that may have some impact on the markets in the coming wee," he added. Market experts are hopeful despite the high volatility in the markets, as Krishna Appala, Sr. Research Analyst, Capitalmind Research said, " Despite global challenges, India's long-term growth story remains compelling."Most sectors, except energy, contributed to the rebound, with realty, auto, and FMCG leading the pack. IT and banking played a pivotal role in capping losses and driving the recovery in the benchmark. Broader indices also edged higher, with gains ranging between 0.9 per cent and 1.8 per cent. On the other hand, the foreign investors extended their selling spree in Indian equity markets for the third consecutive week in November, according to data released by the National Stock Exchange. This week alone, foreign investors sold equities worth Rs 11,412 crore, adding to the ongoing selling pressure.With this, the net selling by foreign investors in November has reached Rs 41,872 crores, indicating persistent bearish sentiment from overseas players. The consistent outflow has weighed on market sentiments, creating volatility in the indices. Meanwhile, domestic institutional investors (DIIs) have continued to provide much-needed support to the Indian markets.This week, DIIs purchased equities worth Rs 11,035 crore, cushioning the impact of foreign outflows. Their total net buying in November now stands at Rs 37,559 crore. Stay informed on all the latest news , real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.
Record-smashing home sales of 2024Riccardo Savi/Getty Images Entertainment Investment Thesis Zoom ( NASDAQ: ZM ) shares are up at an impressive 46.80% since the last time I wrote on the video conferencing giant over the summer. A big driver of the firm’s strong upward movement in Analyst’s Disclosure: I/we have a beneficial long position in the shares of ZM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Noah Cox (main account author) is the managing partner of Noah’s Arc Capital Management. His views in this article are not necessarily reflective of the firms. Nothing contained in this note is intended as investment advice. It is solely for informational purposes. Invest at your own risk. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Swiss National Bank trimmed its stake in CSW Industrials, Inc. ( NASDAQ:CSWI – Free Report ) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,349 shares of the basic materials company’s stock after selling 200 shares during the period. Swiss National Bank owned about 0.18% of CSW Industrials worth $11,120,000 as of its most recent SEC filing. Several other hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of CSW Industrials by 105.9% in the 3rd quarter. GAMMA Investing LLC now owns 70 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 36 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in CSW Industrials during the third quarter worth about $30,000. Contravisory Investment Management Inc. increased its holdings in shares of CSW Industrials by 48.1% during the second quarter. Contravisory Investment Management Inc. now owns 117 shares of the basic materials company’s stock worth $31,000 after buying an additional 38 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of CSW Industrials in the third quarter valued at approximately $72,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of CSW Industrials by 508.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 207 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 173 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds. Wall Street Analyst Weigh In Several brokerages have issued reports on CSWI. Citigroup upgraded CSW Industrials to a “hold” rating in a research report on Wednesday, November 13th. StockNews.com cut CSW Industrials from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. CSW Industrials Price Performance CSWI opened at $426.66 on Friday. The stock has a market capitalization of $7.18 billion, a P/E ratio of 57.97, a price-to-earnings-growth ratio of 3.33 and a beta of 0.78. The company’s 50 day simple moving average is $382.05 and its 200-day simple moving average is $317.58. CSW Industrials, Inc. has a one year low of $172.97 and a one year high of $428.46. CSW Industrials Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 25th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.23%. This is a positive change from CSW Industrials’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, October 25th. CSW Industrials’s dividend payout ratio (DPR) is presently 13.04%. Insider Activity In related news, CEO Joseph B. Armes sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $404.79, for a total value of $404,790.00. Following the transaction, the chief executive officer now owns 50,698 shares in the company, valued at $20,522,043.42. This trade represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . In the last ninety days, insiders sold 3,000 shares of company stock valued at $1,139,500. Company insiders own 1.40% of the company’s stock. CSW Industrials Profile ( Free Report ) CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment provides condensate pads, pans, pumps, switches, and traps; cements, diffusers, grilles, registers, solvents, thread sealants, and vents; line set covers; refrigerant caps; wire pulling head tools; electrical protection, chemical maintenance, and installation supplies for HVAC; ductless mini-split systems installation support tools and accessories; and drain waste and vent system products for use in HVAC/R, plumbing, general industrial, architecturally specified building products. Further Reading Want to see what other hedge funds are holding CSWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSW Industrials, Inc. ( NASDAQ:CSWI – Free Report ). Receive News & Ratings for CSW Industrials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSW Industrials and related companies with MarketBeat.com's FREE daily email newsletter .
From Charity Nwakaudu, Abuja The Federal Government has commissioned a fleet of tractors and harvesters in Kano, marking a significant milestone in its efforts to enhance food production and drive agricultural transformation in Nigeria. The initiative underscores the Federal government’s commitment to advancing the agricultural sector and ensuring food security for the nation. The commissioning was led by the Minister of Water Resources and Sanitation, Prof. Joseph Terlumun Utsev, accompanied by the Chairman of the House Committee on Water Resources, Honourable Sada Soli; the Permanent Secretary, Mr. Richard Pheelangwah; Directors of the Ministry; and other water experts. This contained in a statement released by Mrs. Funmi Imuetinyan, Director, Information and Public Relations. Prof. Utsev commended the River Basin Authority for its proactive efforts in procuring these essential farming tools, emphasizing that the initiative is expected to significantly boost farming productivity and contribute to Nigeria’s journey toward food sufficiency. He also lauded President Bola Ahmed Tinubu for his unwavering support of the Ministry of Water Resources and Sanitation, through the approval and funding of several impactful projects. The Minister urged stakeholders to strengthen collaboration and leverage technological advancements to foster economic growth and development in both the agricultural and water sectors. Prof. Utsev further called for the proper maintenance and judicious use of the tractors and harvesters to ensure their durability and maximize their benefits for farmers and the broader agricultural community. This effort, he noted, highlights the Federal Government’s commitment to empowering farmers with the necessary tools for sustainable agricultural development. Speaking at the event, the Managing Director of the Hadejia Jama’are River Basin Development Authority, Ma’amun Da’u Aliyu, identified the lack of mechanization as a persistent challenge for farmers. He stated that the commissioning of the tractors and harvesters represents a transformative step in addressing this issue and aligns with President Bola Tinubu’s agenda for national development. Aliyu expressed gratitude to the Federal Government and members of the National Assembly for their steadfast support in making the project a reality. He assured farmers that similar initiatives would continue to be prioritized to ease the challenges of food production and further drive agricultural progress across the country.Manchester City manager Pep Guardiola signed a new two-year contract extension on Thursday, extending his club tenure to over a decade. “Manchester City means so much to me,” Guardiola said in a Thursday club statement. “This is my ninth season here; we have experienced so many amazing times together. I have a really special feeling for this football club. The news comes as a huge boost to the Citizens following rumors that the Spaniard would depart alongside director of football Txiki Begiristain – whose decision to leave was announced in October – upon the expiry of his contract at the end of this season. Begiristain worked with Guardiola at Barcelona and was key to his appointment at City, having joined the club in 2012. City acknowledged the rumors surrounding Guardiola’s future in a social media video post announcing a new extension deal had been struck. An off-camera pundit says, “Guardiola’s future - that is going to be a huge soap opera,” to which the manager retorts, “I’m not moving. I can assure you.” Guardiola has won a remarkable 18 trophies – including a historic treble of the Premier League, Champions League and FA Cup in 2023 – during his tenure, overseeing the club’s transition from wealthy challenger to part of soccer’s elite. One of the most successful managers of all time, Guardiola’s time at City was preceded by a four-year stint with Barça, where he won 14 trophies, and three years at Bayern Munich, where he won seven. City has endured an uncharacteristically difficult start to the 2024-25 season having lost Ballon d’Or-winning midfielder Rodri to a serious knee ligament injury in September. The Citizens have lost their last four games – the first time that has happened since the club was bought by the Abu Dhabi United Group in 2008. However, the team remains in second place in the Premier League table, five points behind leader Liverpool, who it will play on December 1. The 53-year-old sounds just as driven for success as he was when he signed for City in 2016. “I have said this many times before, but I have everything a manager could ever wish for, and I appreciate that so much,” he said in a statement. “Hopefully now we can add more trophies to the ones we have already won. That will be my focus.” City is next in action against Tottenham Hotspur on Saturday.
Iowa cornerback Jermari Harris has opted out of the remainder of the 2024 season in order to prepare for the NFL draft, according to a report by 247Sports.com . The 6-foot-1 sixth-year senior from Chicago has recorded 27 tackles, three interceptions and a team-high seven pass breakups in 10 games for the Hawkeyes this season. That includes a pick-6 in a 38-21 win over Troy earlier this season. Iowa (6-4, 4-3 Big Ten) plays at Maryland on Saturday before closing out its regular season at home against Nebraska on Nov. 29. The Hawkeyes are already bowl eligible, so Harris is likely opting out of three games in total. After missing the entire 2022 season due to an ankle injury, Harris was suspended for two games of the following season for his involvement in the gambling investigation into Iowa athletics. He later emerged as the Hawkeyes' top cornerback, earning the team's comeback player of the year award after compiling 42 tackles, one interception and eight pass breakups. Harris will finish his college career with 105 tackles and eight interceptions. --Field Level MediaMe Campaigning for UTM, Over My Dead Body – Fumes Kaliati
Piper Sandler Forecasts Strong Price Appreciation for Penumbra (NYSE:PEN) Stock
US stocks mostly rose Friday after a report showed a healthy jobs market, and Paris rallied as President Emmanuel Macron vowed to serve out his full term and end France's political crisis. Oil fell on concerns of oversupply and Bitcoin held at a level over $100,000 after hitting records Thursday. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Ethiopia’s banking industry is officially opened for foreign investment after the passage of a key proclamation by the parliament. The House of People’s Representatives ratified the draft Banking Business law with a majority vote with three MPs voting against. The newly revised proclamation provides a legal framework that would allow foreign investment in the Ethiopian banking industry. It says foreign banks may be allowed “to establish a partially or fully owned foreign bank subsidiary, or open a foreign bank branch, or a representative office, or acquire shares of a bank.” The foreign nationals and foreign owned organizations can also acquire shares in banks through foreign direct investment in foreign exchange There are now 31 commercial banks, including the state-owned Commercial Bank of Ethiopia (CBE), operating in Ethiopia. The revised law will not only improve the competitiveness and efficiency of the industry and also its contribution to the economic development of the country, said Desalegn Wodaje, Chair of the HPRs Budget and Finance Affairs Standing committee, while introducing the motion to ratify the bill. MPs welcomed the move but some voiced their concerns about the level of readiness for domestic banks to compete and the capacity to regulate the liberalized banking market. currently, all domestic banks except country’s biggest CBE are large enough to be regarded as systemically important banks, according to a recent central bank report. The concerned MPs also argued that the decision to allow foreign banks into the country has to take into account the limited capacity and size of the existing banks. Their fear was that private banks are not well-prepared for the possibility of competition with major foreign banks with huge financial clout. In his response, national bank governor Mihretu Mamo stated the new law’s chief objective is to help build a globally competitive banking industry by strengthening linkage with foreign investors. This provides domestic banks opportunities to investors with foreign banks, and enables the industry with modern knowledge and technology, per NBE. The governor also advises domestic banks to consider the possibility of merger, which, he said would enable them to tap into their collective financial resources and make themselves ready for the incoming competition. The total assets of the 31 commercial banks currently operating in the country reached 3.3 trillion birr at the end of June 2024, showing 15.2% increase from the previous year. The major contributors to the growth were loans and advances, and bonds, which together accounted for the largest share or 66.9% of total assets.