Month: December 2019
Manchester United goalkeeper in talks over late move to West Brom
Anders Lindegaard West Brom have entered talks to sign Manchester United goalkeeper Anders Lindegaard.Albion manager Tony Pulis has been in the market for a new goalkeeper all summer and has turned his attention to the United man after failing in a bid to sign Cardiff’s David Marshall, having refused to meet the Bluebird’s £5million asking price.Lindegaard has a year remaining on his contract at Manchester United but it is understood he could move to the Hawthorns in a free transfer.The 31-year-old, who joined United from Norwegian club Aalesund in January 2011 for a £3.5million fee, has found his first-team chances limited, making the last of 29 appearances 16 months ago in a 4-0 victory against Newcastle at St James’ Park.Denmark international Lindegaard would provide competition for Boaz Myhill, with regular number one Ben Foster not expected back until October as he recovers from a knee injury.He would be the third player to move from Old Trafford to West Brom this year, following Darren Fletcher and Jonny Evans. 1
Liverpool manager Jurgen Klopp considering recalling loan star
Liverpool manager Jurgen Klopp is flirting with the idea of recalling Lazar Markovic from his loan spell with Fenerbahce, according to the Daily Mirror.The Serbian winger cost the Reds £20m last summer but struggled for consistency in his debut Premier League season.His confidence levels deteriorated towards the back end of the campaign, with Brendan Rodgers electing to offload the 21-year-old to Turkey.Liverpool could exercise an option to cut short Markovic’s loan in January and it is understood Klopp is assessing the former Benfica star.Markovic has impressed in his brief spell away so far after being rewarded with more game time than he was offered under Rodgers.Jordon Ibe is currently the only recognised winger in the Reds’ squad, so Markovic’s return would appear viable as Klopp looks to bolster his options. Lazar Markovic 1
Man United send scouts to watch Benfica star Nicolas Gaitan ahead of January bid – reports
1 Benfica star Nicolas Gaitan Manchester United are still harbouring hopes they can land Nicolas Gaitan from Benfica.The Red Devils made a number of attempts to lure the midfielder away from Portugal last summer but were unable to meet his £25million buyout clause.According to Record, United are preparing a fresh January bid having sent scouts to watch Benfica’s clash with Sporting Braga on Monday.The Portuguese giants are reluctant to sell one of their prize assets and are still trying to persuade the Argentine to sign a new contract.However, United are confident they will finally get their man next month with more formal negotiations between the two clubs due to take place this week.
Bournemouth sign Serie A star
1 Bournemouth have wasted no time making their first move in the transfer window with the loan capture of winger Juan Iturbe from Roma.The 22-year-old, an Argentina Under-20 international, joins Eddie Howe’s team for the rest of the season subject to endorsement from the Football Association and a European work permit.Bournemouth have the option of making the move permanent in the summer for an undisclosed fee.Iturbe, who has scored three goals in 39 league appearances for Roma, had been heavily linked with a move to the south coast and he revealed Bournemouth’s desire to sign him was the clinching factor.He told Cherries Player: “It’s a big opportunity for me to come and play in the Premier League. I’d like to thank everyone for making this move happen and I’m very pleased to be here.“There were a few clubs that were interested but things happened pretty quickly and once this process was under way it was a straightforward decision for me to make.“I didn’t know a lot about Bournemouth as a club but the more I read and the more I found out how much they wanted me, it’s an easy decision to go to a place where you feel really wanted. That became the overriding factor.”Iturbe was born in Argentina but grew up in Paraguay and began his career with Cerro Porteno before moving to Europe and joining Porto aged 18.Successful loan spells with River Plate and Verona prompted Roma to shell out more than £17million to bring him to the Italian capital on a five-year deal in the summer of 2014.Iturbe has made 19 appearances for Roma this season, scoring his only goal against Frosinone in September.He trained with his new team-mates on Friday but will not be eligible for Saturday’s trip to Leicester. Roma star Juan Manuel Iturbe
Landslide aftermath surveyed
Wagner not nuts for new ‘Bionic Woman’
Lindsay Wagner, who won an Emmy in the late 1970s for her portrayal of Jamie Sommers in “The Bionic Woman,” says she has seen the new NBC version, starring Michelle Ryan, and wasn’t crazy about it. “It’s very different,” she says. “It’s very much like what the shows are today, kind of dark and broody and violent – what people seem to be getting off on these days. So, it’s not at all what we were doing. We were doing a show for kids intentionally and making it fun and make it in such a way that adults could enjoy it, too, with their children.” Wagner originated the role of Sommers on “The Six Million Dollar Man” in 1975 and played it for three seasons on her own show. She later reprised the role in television movies in 1987, 1989 and 1994. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
Countrywide to bail out borrowers hurt by subprime loans
CALABASAS – With foreclosures mounting, Countrywide Financial Corp. announced a bailout plan on Tuesday to modify $16billion in mortgages for customers who cannot afford the monthly payment because of interest rate resets. A top company executive promised generous flexibility for borrowers whose hybrid adjustable loans are now or might soon be unaffordable. “In some cases, we won’t even invoke the payment reset,” Steve Bailey, Countrywide’s senior managing director of loan administration, said in a conference call. “The payment reset is not going to be the reason why people suffer foreclosure.” AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.Countrywide said that its plan will “proactively address the rising foreclosure rate” through 2008. The program includes $2.2billion this year to help about 10,000 subprime loan holders who are currently delinquent and are experiencing financial difficulties as a result of a recent reset. It did not win universal approval, though. Bart Narter, senior analyst with Celent, a Boston-based financial research and consulting firm, said in an e-mail that the plan means Countrywide’s options went from bad to worse. “The bad consists of renegotiating loans, and perhaps losing some potential profit, but not flooding the market with even more homes,” he said. “What’s worse is that Countrywide is foreclosing on homes in a declining market and going through the legal, administrative and financial pain involved in this process.” But he said that the action by Countrywide, the nation’s largest mortgage provider, will hopefully set an example in the industry. And Bailey acknowledged that sinking home values is one reason the company is now taking this action. The program has a refinance and a work-out component. Here’s how it works: Countrywide set up a special refinance unit for about 52,000 borrowers with subprime loans and strong payment histories. This pool has about $10billion in mortgages, and the company will try to arrange a refinance into prime or FHA loans. For those with credit issues, Countrywide will offer Fannie Mae or Freddie Mac’s expanded criteria programs. Countrywide is also going to contact prime and subprime borrowers who are current but unable to qualify for a refinance and are likely to have difficulty affording an upcoming payment reset. The company will supplement its early notification letter to borrowers by calling no later than three months prior to the reset to determine their financial circumstances and develop affordable solutions. Countrywide hopes to modify $4 billion in loans for approximately 20,000 borrowers in an existing adjustable-rate mortgage through the end of 2008. So far this year, the company said its home preservation efforts have helped more than 40,000 borrowers stay in their homes, including the completion of 20,000 loan modifications. Jack Kyser, vice president and chief economist at the Los Angeles County Economic Development Corp., said the company is doing the right thing. “It’s very unprecedented, and it’s probably a very savvy move on the part of Countrywide given all the criticism that Angelo Mozilo (the company’s chairman and chief executive officer) is getting,” Kyser said. “For a lot of people, this is just going to be wonderful news.” [email protected] (818) 713-3743160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
Millions in settlements being paid by giant BP
HOUSTON – BP PLC is taking a multimillion dollar broom to sweep away a slew of federal charges linked to energy price fixing, a deadly refinery blast and pipeline leaks and focus on its energy business. The more than $373 million in settlements announced Thursday are part of the company’s attempt to get rid of the problems left over from the stewardship of former chief executive John Browne and move ahead with the recently announced restructuring of Europe’s second-largest oil company. On top of the fines and restitution, four former BP employees were indicted by a federal grand jury in Chicago on 20 counts of mail and wire fraud connected to a scheme to manipulate energy markets. The bulk of the fines – $303.5million – aim to punish BP for conspiring to fix propane prices in 2003 and 2004. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.London-based BP also agreed to pay a $50 million fine and plead guilty to a felony for its role in a 2005 explosion at its Texas City refinery that killed 15 employees and injured more than 170 others. Additionally, it will pay $20million in criminal fines and restitution to Alaska and the National Fish and Wildlife Foundation for pipeline leaks and spills at Alaska’s Prudhoe Bay, the nation’s largest oil field. The settlements were made public at U.S. Justice Department news conferences in Washington and Houston. “These agreements are an admission that, in these instances, our operations failed to meet our own standards and the requirements of the law,” Bob Malone, president and chairman of Houston-based BP America, said in a statement. “For that, we apologize.” The chairman of the House Energy and Commerce Committee, Rep. John Dingell, criticized the amount BP will pay to settle the Texas City charge. “I note with curiosity that when an average citizen commits a felony it usually leads to a prison sentence. Yet, apparently, when a big oil company commits a felony that causes 15 deaths, it pays a criminal penalty equal to less than a day’s corporate profits,” the Michigan Democrat said. BP reported an adjusted net profit of $22 billion in 2006, or about $60 million per day. The new legal developments come amid a wide-ranging overhaul at a company that’s had more than safety and operational difficulties in recent years. Earlier this year, Browne, the man who transformed BP into one of the world’s top energy companies, resigned in disgrace after 12 years at the helm for admitting he lied to a judge when he tried to block a newspaper from printing allegations of wrongdoing made by a former boyfriend. Tony Hayward, who succeeded Browne on May 1, acknowledged earlier this month that BP had lagged peers in the past few years, and he launched a comprehensive restructuring that includes reducing the number of business units and simplifying management by stripping out some layers. Analysts have said the overhaul would have little short-term impact but positive long-term implications. Indeed, earlier this week, BP reported a 29 percent slump in third-quarter profit because of higher maintenance costs and outages at key refineries, but some analysts said the worst of the company’s operations woes may be behind it. Gary Adams, vice chairman of oil and gas for Deloitte & Touche USA LLP, said it makes perfect sense for a global energy company like BP to want to refocus efforts on its core business – finding, producing and refining oil and natural gas. The global energy business is difficult enough these days, Adams said, as access to new reserves becomes increasingly difficult and costs for materials and services continue to rise. BP is not out from under the federal microscope yet. The U.S. government’s investigation of the company and its executives will continue during a three-year probation period, Acting Attorney General Peter Keisler said Thursday.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
Most risky home loans stuck beyond bailout
WASHINGTON – If you want to see a Democratic or Republican congressman squirm, mention a multibillion-dollar bailout for the housing market crisis. The apparent discomfort contrasts with reality: Most risky home loans made near the end of the housing boom can’t be salvaged. The unfolding crisis in the $10.8 trillion U.S. home loan market is so widespread and so complex that many experts question whether the government can do much to fix it – especially if a bailout isn’t on the table. “Some people are just in houses that are just way out of reach for them,” said Douglas Elmendorf, a senior economics fellow at the Brookings Institution, noting that politicians do not like “explicitly appropriating funds for this.” Congress, the White House and bank regulators have little ability to prevent defaults and foreclosures, said Karen Weaver, global head of securitization research at Deutsche Bank. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.“It’s unfortunate, but it has to play out … We need home prices to come back to reality,” she adds. Washington’s desire to help is undercut by the reality that it’s not viable to rescue homeowners or banks that made loans or investors that bought securities backed by mortgages. “I have sympathy with a lot of the borrowers, but I don’t see how you would decide which ones were worthy and which ones weren’t,” Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said this week, while announcing legislation to crack down on mortgage lending abuses. Frank and several consumer groups say lending law reform is needed to prevent mortgage abuses in the future, while Republicans say doing it now makes it harder for the housing market to recover. Rep. Patrick McHenry, R-N.C., warned at a House hearing Wednesday that Frank’s proposed bill would “push us into a housing recession” because lenders would face new restrictions on their ability to help borrowers refinance. Political pragmatists say there are so many complicated issues at hand and so many interest groups involved that only narrow proposals can muster support. For example, Alex Pollock, a resident fellow at the American Enterprise Institute, has drawn up a one-page mortgage form designed to give borrowers a much simpler way to understand the financial commitments involved in a home loan. Yet his commonsense suggestion is overshadowed by fears of what more defaults will do to the economy and financial markets. Former Federal Reserve Chairman Alan Greenspan said this week the data suggest the housing downturn is worse than anticipated. However, his analysis of housing statistics put the possibility of a recession in 2008 at 50-50. Politicians headed into a presidential election year aren’t thrilled with those odds, especially as loans made in late 2005 and 2006 with low teaser rates approach deadlines for resets to sharply higher rates. Moody’s Economy.com projects that more than 2 million mortgages worth about $450 billion will default. Even after homes are sold at foreclosure auctions, investors are still likely to be hit with nearly $150 billion in losses, according to the forecast. The defaults extend beyond subprime mortgages extended to borrowers with weak credit. They include loans made to borrowers who weren’t required to provide proof of income, borrowed more than what their home is worth or made down payments of less than 10 percent. President George W. Bush has pushed for expanded authority for the Federal Housing Administration, a Depression-era agency that insures loans made to low-income borrowers. A bill authorizing the FHA to help borrowers with larger home loans stalled in the Senate after passing the House. Many experts say its impact would be limited. Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., argues that mortgage servicing companies should agree to widespread conversions of adjustable-rate loans to fixed-rate loans for borrowers who are current on payments but confront rate resets. Experts in the $6 trillion market for mortgage-backed securities say Bair’s idea won’t work because mortgage servicing companies, which collect and distribute loan payments to lenders, have a legal responsibility to modify loans only if they’re confident the changes would be successful, says Mark Adelson, a mortgage securitization consultant. Some Democrats and consumer advocates want bankruptcy judges to be able to modify loans to keep struggling borrowers from losing their homes. Critics say the idea would keep lenders out of the mortgage market and result in more bankruptcies.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
IRISH RUGBY SUPERSTAR SET TO VISIT MCELHINNEYS
Don’t miss your opportunity to meet Irish and Ulster Rugby Star Tommy Bowe when he visits Ballybofey on Saturday 24th May. On this exclusive trip he will be visiting MasterShoe Company from 11am – 12pm and McElhinneys from 12pm – 1pm where fans can meet him personally, get autographs and talk all things sports and footwear. Tommy will be at the two renowned footwear stores to promote the Tommy Bowe womens, mens and kids footwear collections where if you purchase any pair of Tommy Bowe shoes on the day, you’ll receive a free Rugby Ball.This is a great opportunity to get up close and personal to the Irish Sports Star, so don’t miss out.For further information, contact McElhinneys on 0749131217.IRISH RUGBY SUPERSTAR SET TO VISIT MCELHINNEYS was last modified: May 14th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:BusinessEntertainmentFeaturesIrish RugbynewsTommy Bowe