The news rattled Wall Street. The Dow Jones industrial average fell 147.74, or 1.11 percent, to 13,215.13, giving back five sessions’ worth of gains. It was the biggest point drop in the blue-chip index since a 242-point plunge on March 13. Broader stock indicators also saw their largest one-day point declines since March 13. The Standard & Poor’s 500 index lost 21.11, or 1.40 percent, to 1,491.47, falling back below the 1,500 mark that it surpassed last week for the first time since September 2000. The Nasdaq composite index dipped 42.60, or 1.65 percent, to 2,533.74. Analysts had already expected last month to be weak after an early Easter motivated many consumers to do their holiday shopping in March, siphoning away part of April’s business. But sales were much softer than expected, raising concerns that retailers will also see disappointing results in the months ahead. The UBS-International Council of Shopping Centers sales tally of 53 stores posted a decline of 2.4 percent, the biggest drop since the index started tracking the data back in 1970. The tally is based on same-store sales, or sales at stores open at least a year, which are considered a key indicator of retailers’ health. Michael P. Niemira, chief economist at the ICSC, called the drop in same-store sales a rarity, noting it marked the third time since 1970 that the overall index declined. For the combined March and April period – which provides the best read on the spring selling season – the tally was up only 1.8 percent, below the 2.8 percent forecast. While analysts will be closely watching how May fares, since the month will provide a better indication of consumer outlook, concerns are rising that shoppers can no longer bear the weight of the economy’s woes. “The slowdown is at hand,” said Niemira. He noted that over the past three-month period, same-store sales have averaged a 2 percent growth, exactly half the pace the industry experienced in the same year-ago period. The housing market slump, which had already hurt sales of home-related goods over the past year, seems to be having a greater impact on retail sales. For years, shoppers had tapped into home equity as a source for cash, but rising interest rates have curbed that practice, and rising mortgage defaults may be spooking consumers. Even the job market, which has been a pillar of consumer spending, is showing some signs of strain as the government reported earlier this month that employers added the fewest positions last month in two and a half years. And while the market has hardly collapsed, it appears job seekers will have more difficulty in landing a position. The latest data on unemployment claims, however, was soothing since it showed that the number of laid-off workers filing claims fell for a fourth straight week. Janet Hoffman, managing partner of the North American retail division of the consulting firm Accenture, said stores also are to blame. “The retailers missed on some of the product choices,” said Hoffman noting that much of the fashions reminiscent of mod styles of the 1960s – mini dresses and big geometric patterns – turned off many customers. The good news, however, is that first-quarter profits seem to be intact, with only a handful of merchants, including Abercrombie & Fitch, reducing their profit outlooks Thursday, according to Morris. Most retailers report earnings this month. Wal-Mart reported a 3.5 percent decline in same-store sales. Analysts surveyed by Thomson Financial expected a 1.1 percent decrease.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! NEW YORK – What was once a dull pain behind the eyes is threatening to become a full-blown migraine for the nation’s retailers. On Thursday, they reported one of their worst monthly sales performances ever, raising concerns that higher gas prices and a weakening housing market are eating away at consumer spending. Given projections for more housing problems and higher fuel demand during the summer, prospects for retailers seem even dimmer. “Consumers are not feeling quite as healthy from an economic standpoint as they did last year at this time,” said John Morris, managing director at Wachovia Securities. As retailers released their April sales figures, Wal-Mart Stores Inc. recorded a rare drop – the weakest performance since the world’s largest retailer began publishing monthly sales in 1980, according to John Simley, a company spokesman. But April’s disappointments crossed all segments of the industry, striking stores as varied as apparel retailer Abercrombie & Fitch Co. and Macy’s operator Federated Department Stores Inc.
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Robredo should’ve resigned as drug czar after lack of trust issue – Panelo NATO’s aging eye in the sky to get a last overhaul FILE – Perlas Pilipinas’ France Mae Cabinbin against Japan in the 2017 Fiba Women’s Asia Cup. Photo from Fiba.comKUALA LUMPUR — Perlas Pilipinas shone bright Sunday night.True to its moniker, the Philippine women’s basketball team fashioned out a 88-54 demolition of Singapore to start its bid for the 29th Southeast Asian Games crown at full-packed MABA Stadium here.ADVERTISEMENT View comments MOST READ LATEST STORIES Trump signs bills in support of Hong Kong protesters Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Displaying fluid transition offense through flashy playmaker France Mae Cabinbin, the Philippines kept the tentative Singaporean side under control in the first half, with just about everybody in the lineup scoring at will.Perlas stepped on it in the final two quarters with Cabinbin, Afril Bernardino and Analyn Almazan leading the charge to rip the game apart and cruise to its first victory of the meet.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games opening Celebrity chef Gary Rhodes dies at 59 with wife by his side Hotel says PH coach apologized for ‘kikiam for breakfast’ claim Trending Articles PLAY LIST 00:50Trending Articles02:49World-class track facilities installed at NCC for SEA Games03:07PH billiards team upbeat about gold medal chances in SEA Games05:25PH boxing team determined to deliver gold medals for PH03:04Filipino athletes share their expectations for 2019 SEA Games00:45Onyok Velasco see bright future for PH boxing in Olympics02:25PH women’s volleyball team motivated to deliver in front of hometown crowd01:27Filipino athletes get grand send-off ahead of SEA Games00:36Manny Pacquiao part of 2019 SEA Games opening ceremony Gilas Pilipinas escapes Jordan, salvages 7th place Pagasa: Storm intensifies as it nears PAR Don’t miss out on the latest news and information. Sports Related Videospowered by AdSparcRead Next Lacson: SEA Games fund put in foundation like ‘Napoles case’
New Delhi, Sep 8 (PTI) The Women and Child Development Ministry has invited nominations for this year’s National Children Awards given to children with outstanding achievements in the fields of innovation, scholastic achievements, sports, arts and culture, social service and bravery.This national recognition is conferred by the president. The last date to submit nominations is September 30 this year.Elaborating on the awards, Women and Child Development Minister Maneka Gandhi said the National Children Awards is an “amazing platform to honour the exceptional achievements of our children and those who strive towards their welfare, development and protection in a way to inspire others”.Applications are sought in the categories of ‘National Child Awards’ and ‘National Child Welfare Awards’.The recipients of the ‘National Child Awards’ receive a medal, a cash prize of Rs 1 lakh, book vouchers worth Rs 10,000, a certificate and a citation.The ‘National Child Welfare Awards’ recognise the work of individuals and institutions who have made a remarkable contribution towards the service of children in the fields of child development, protection and welfare.The recipients receive a cash prize of Rs 1 lakh, a citation and a certificate.The Ministry has also launched a logo design contest for the awards. The details of the contest are available on the Facebook and Twitter accounts of the Ministry. Last date to submit entries for the contest is September 23.Further details of the awards are available at www.nca-wcd.nic.in. PTI UZM KJKJ
Jim Harbaugh was only Michigan’s head coach for one of the program’s three rivalry contests against Ohio State during Ezekiel Elliott’s tenure, but he seems to have made quite an impression on the star running back. Friday, Elliott, who is going through the ESPN car wash today, trashed Harbaugh, telling Paul Finebaum that he’s “tired” of hearing about him. Elliott also called out Harbaugh for talking smack when he hasn’t won a rivalry game. Yikes.“I’m tired of hearing about Coach Harbaugh he needs to get in check with reality” – @EzekielElliott pic.twitter.com/QHElXCl7QV— Paul Finebaum (@finebaum) April 15, 2016more from @EzekielElliott: “you can’t talk smack about a rivalry when you haven’t won a game. You have to win ballgames to talk behind it.”— Paul Finebaum (@finebaum) April 15, 2016Here’s @EzekielElliott‘s full quote about Jim Harbaugh on @finebaum pic.twitter.com/FkeSmMrqZa— John Hayes (@johnP_hayes) April 15, 2016This isn’t exactly a surprise – Elliott has made a living off of trolling Michigan the past few years. But it’s still hilarious, and reminds us that there is no better college football rivalry than Ohio State vs. Michigan.
Story Highlights For the 2016/17 financial year, some 2,571 jobs were created by the film industry, compared to 1,406 in the previous year. Film Commissioner at Jamaica Promotions Corporation (JAMPRO), Renée Robinson, says the country has been reaping benefits from development of the local film industry with steady increases in jobs and earnings. The Commission is mandated to promote the Jamaican film industry through facilitation of activities that increase investment, export and employment in the sector. Film Commissioner at Jamaica Promotions Corporation (JAMPRO), Renée Robinson, says the country has been reaping benefits from development of the local film industry with steady increases in jobs and earnings.For the 2016/17 financial year, some 2,571 jobs were created by the film industry, compared to 1,406 in the previous year.Ms. Robinson told JIS News that the Commission tracks the various international productions that come into the island and the local personnel and services that they utilise for their projects.“A film production can hire anywhere from 30 people all the way up to 800, so it really makes a significant difference when we have large productions that are coming into the island and hiring Jamaicans,” the Film Commissioner said.She added that the multiplier effect is massive, as “it is not just the hiring of the production manager or the camera folks, but they hire caterers, drivers, security personnel… (and) if there is a scene at a pool, they hire a lifeguard… . Ambulances are needed on set to ensure that medical attention is available, so there is a lot of spin-offs in jobs for the productions that are happening on the island”.As it relates to capital expenditure from the local film industry, the Commission identifies and tracks the investments that local production entities bring into the island.“So, when a Phase Three, Television Jamaica or other entities bring in production equipment, we track the value of that equipment, which is being invested in the economy,” Ms. Robinson explained.The past financial year saw $300 million worth of capital expenditure from investments by the creative industries.In terms of linkages, which relate to the value of the production budget that comes into the island to offset the services rendered, figures show that for the 2016/17 fiscal period, some $674 million was allocated.The Jamaica Film Commission was established in 1984 and operates alongside the Creative Industries Unit within JAMPRO.The Commission is mandated to promote the Jamaican film industry through facilitation of activities that increase investment, export and employment in the sector.
HALIFAX – (Liberals-Caregivers)The Liberals say they will spend $25 million expanding eligibility for the caregiver benefit over four years.The program gives about $400 a month to those caring for people with severe dementia.Premier Stephen McNeil says the program would be expanded to include 400 people who care for those with lower levels of dementia this year and another 1,200 people caring for those with mental illness in 2018.He says the change will mean about 1,600 more Nova Scotians will qualify for financial help.(The Canadian Press)—(NSHA-Executive-Furniture)The NDP released documents showing the Nova Scotia Health Authority spent nearly $500,000 on new furniture and renovations for its executive offices.The documents show the furniture cost over $257,000 while the renovations came in at just under $195,000.NDP Leader Gary Burrill says after cuts to long-term care in particular, Premier Stephen McNeil owes an explanation for the expenses.McNeil says the cost of the furniture “makes no sense to me,” and spending that kind of money at a time when money is needed for care in the health system is “excessive and inappropriate.”(The Canadian Press)—(NSElxn-Tories)Nova Scotia’s Progressive Conservatives are promising to bring back a refundable film tax credit.Tory Leader Jamie Baillie has announced $34 million to revive the credit in a bid to aid the film and TV industry.He says the industry was set back when the Liberals controversially axed the tax in 2015.—(NSElxn-NDP)The NDP are pledging to restore funding for seniors’ care if elected May 30th.Leader Gary Burrill says $60 million over four years would be put towards long-term care for seniors.Burrill says he would also freeze pharmacare premiums and lobby for a national pharmacare plan.(The Canadian Press)—(Party-Nominations)Elections Nova Scotia says nominations for the May 30 vote have closed.It says 203 candidates have been nominated in the province’s 51 electoral districts.The Liberals, Tories and NDP have candidates in all 51 ridings.The Green Party has nominated 32 candidates while the Atlantica Party is running 15 and there are three Independents.(The Canadian Press)—(N.S. Election Roundup by The Canadian Press)