BMO Q1 profit falls as consumer borrowing wanes

first_img Bank of Montreal (TSX:BMO) saw its first-quarter profits shrink, but analysts say lower oil prices didn’t have as much of an impact as anticipated. “Everyone’s talking about oil and how that’s going to impact the banks, but the full impact hasn’t really hit yet and I think it’s going to take a couple of quarters before it does,” said Morningstar analyst Dan Werner. Canaccord reports record revenues, drops proposal to acquire RF Capital BMO on Tuesday was the first of the big Canadian banks to release its first-quarter results, reporting a profit of $1 billion or $1.46 per share, down from $1.06 billion or $1.58 per share a year ago. Revenue grew to $5.06 billion, from $4.48 billion. On an adjusted basis, BMO said it earned $1.04 billion or $1.53 per share for the quarter, down from $1.08 billion or $1.161 per share a year ago. That’s 10 cents below analyst expectations of $1.63 per share of adjusted profits. BMO attributed the lower adjusted profit to falling long-term interest rates on its insurance business, which the bank said reduced its adjusted earnings by six cents per share. Some analysts had predicted that investment banking business from the oilpatch would dry up during the quarter due to the recent plunge in the price of oil. Although BMO’s capital markets division — which includes investment banking — saw its revenues drop 20 per cent from a year ago to $221 million, analysts said the segment performed better than expected. Meanwhile, “exceptionally strong growth” south of the border offset slowing growth in BMO’s domestic retail banking operations, according to Barclays analyst John Aiken. BMO’s U.S. banking business increased its first-quarter profits by 15 per cent to $192 million, while its Canadian banking arm grew profits by four per cent to $502 million. All of the big Canadian lenders are facing headwinds, including tight lending margins due to rock-bottom interest rates and a growing reluctance by stretched Canadian consumers to take on more debt. Despite these challenges, BMO’s chief executive says he expects the bank’s revenue to improve during the second half of the year. “The current operating environment poses both challenges and opportunities,” Bill Downe told investors during a conference call Tuesday. “In this environment, we’re keeping a close check on expense growth.” Royal Bank (TSX:RY) and National Bank (TSX:NA) will report their earnings on Wednesday, with TD Bank (TSX:TD) and CIBC (TSX:CM) slated to follow on Thursday. Scotiabank (TSX:BNS) will report on March 3. Laurentian Bank reports $53.1M profit in Q2, beats expectations Alexandra Posadzki Share this article and your comments with peers on social mediacenter_img Related news Keywords EarningsCompanies Bank of Montreal Canadian banks to focus on growth, spending and buybacks after strong second quarter Facebook LinkedIn Twitterlast_img read more

Paul McCartney Announces First U.S. Arena Date

first_img[cover photo courtesy of MJ Kim and Nasty Little Man] Paul McCartney has announced his first U.S. arena date of the summer, outside of his already scheduled festival appearances at Firefly in Dover, DE on June 19th and at Lollapalooza in Chicago, IL on July 31st. Macca has announced a show at Philadelphia, PA’s Wells Fargo Center on June 21st. The Out There Tour is currently running through dates in Japan and South Korea.The tour uses state of the art technology and production to ensure the entire audience has the best possible experience. With massive screens, lasers, fireworks, unique video content and, of course, the some of the most well-known songs in rock history, seeing the former Beatle perform live is a once-in-a-lifetime experience.Tickets for the newly announced dates will be on sale Friday, May 1 at 12 noon local time. American Express® Card Members can purchase tickets before the general public beginning Tuesday, April 28 at 10 a.m. through Thursday, April 30 at 10 p.m.Current Paul McCartney Tour DatesJune 19 – Dover, DE – Firefly Music FestivalJune 21 – Philadelphia, PA – Wells Fargo CenterJuly 31 – Chicago, IL – Lollapaloozalast_img read more

Japan Cricket Association takes ambitious steps to grow the game

first_imgThree years ago, Japan didn’t have an active Under-19 cricket team. Today, however, Japan is one of 16 teams taking part in the ongoing Under-19 Cricket World Cup in South Africa.It was poised to be a de facto final at the East Asia Pacific Under-19 qualifiers. The winner would go through to the World Cup, while the loser would be confined to heartbreak and regrets. KEYWORDS On the morning of June 8, 2019, however, Japan woke up to the news that Papua New Guinea had suspended 11 members of its squad for shoplifting. Unable to field a team, Papua New Guinea was forced to forfeit the game, sending Japan through to its first-ever global cricket tournament.During the first week of the World Cup, Japan suffered a 10-wicket defeat to cricketing heavyweight India and a pair of nine-wicket losses to Sri Lanka and England.Despite these results, Japan’s mere presence in South Africa is a testament to the efforts of the Japan Cricket Association to grow the game at the grass roots and school level.Japan’s cricketing origins actually stretch back to 1863, when the Royal Navy had been sent to Yokohama to protect British traders from hostile Japanese samurai. Despite fearing for their safety, the merchants sensed this was an ideal time to get together and play the Navy in a friendly game of cricket.It took until the 1980s, however, before Japan’s first amateur league was formed by a group of foreign and Japanese students, who were captivated by the sport on their visits to the U.K.In 1984, Kenny Matsumura, became the first chief executive of the JCA, leading the charge toward affiliate membership in the International Cricket Council in 1989.Despite these developments, cricket struggled to expand beyond Japan’s expatriate communities. That began to change in 2008 when Naoki Alex Miyaji was appointed as the JCA’s first full-time chief executive. His first challenge was to increase the number of playing facilities in the country. Given Tokyo’s sky-high rents and a limited budget, Japanese cricket needed a home it could afford.Building Japan’s cricket homeThat’s when Miyaji thought of Sano, Tochigi Prefecture, 80 km north of Tokyo, where he’d lived for a few years. He began to discuss his plans to turn the small city into Japan’s cricketing capital with Kenji Yajima, the chairman of the Sano Chamber of Commerce.Yajima, for his part, was looking for a way to curb a worrying trend of depopulation that had seen close to 10,000 residents move out of Sano in the last decade. He took the proposal to Sano’s mayor, Masahide Okabe, who was sold on cricket’s potential to attract people to the nondescript city.The two of them and Miyaji proceeded to set up a cricket supporter’s club, which initially attracted 40 local businesses to invest in cricketing infrastructure and training facilities.Fast forward 10 years and the number of companies in the supporter’s club has ballooned to 120 and together they have funded six grounds in Sano, including the iconic Sano International Cricket Ground.“It does have a wow factor. When teams turn up, they don’t expect to find a cricket ground this nice in the middle of Sano,” observed Alan Curr, JCA’s head of cricket operations.Without the need to share space with other sports, the JCA was able to grow the game beyond expatriate and immigrant communities. Its success is highlighted by the fact that more than half of all students in Sano’s 28 schools have played cricket at least once.Encouraged by the sport’s growing popularity, the JCA organized a youth summer camp in 2017 with an eye toward building an Under-19 team that could qualify for the 2022 edition of the World Cup. Many ethnically Japanese players were developed at the camp, including all-rounder Kazumasa Takahashi, who finished as Japan’s second-highest wicket-taker and its second-highest run-scorer at the EAP Qualifiers.As fate would have it, a trio of qualifying victories over Fiji, Samoa, and Vanuatu, along with PNG’s forfeiture, allowed Japan to realize its World Cup dream two whole years ahead of schedule.As a result, a remarkable 11 out of the current 16 members of Japan’s Under-19 squad will also be eligible for the 2022 edition of the tournament.Big increase in participationJapan’s ever-expanding talent pool currently boasts an estimated 4,000 players across youth, men’s, and women’s competitions: a 33 percent jump from participation figures in 2016.In an effort to increase participation to 5,000 players by 2022, the JCA has begun to establish “cities of cricket” in Akishima (Tokyo), Sanmu (Chiba Prefecture), and Kaizuka (Osaka Prefecture). By 2032, the JCA is eyeing 20,000 players across 22 cities.When asked about the future of the senior men’s side, Curr is encouraged by the trend of baseball players switching to cricket, including former infielder Shogo Kimura, who made the switch after going unsigned ahead of the 2018 NPB season. Within a year of making the switch, Kimura — now 39 — broke into Japan senior team. He’s part of a group of players who have formed the backbone of the Japan men’s side over the last few years.Curr, however, is quick to point out that the JCA is prioritizing youth participation as a pipeline for the men’s team.“What we want now is for people in this Under-19 group pushing them for places,” he said.Not to be forgotten, women’s cricket is also a key priority for Curr and the JCA.“We do have some girls who came through with the boys like Ruan Kanai and Kiyo Fujikawa, who both made their debuts last year. They’re 15 and 16 years old (respectively), but we need a much bigger player base for girls and that’s a focus for us right now.”As things stand, there is every chance Japan will finish in 16th position at the ongoing World Cup. However, whether it’s the youth team or either of the senior outfits, the future of Japanese cricket appears to be in safe hands.Jay Dansinghani, a Hong Kong-based writer, is a regular contributor for Emerging Cricket, the world’s most popular website covering the associate cricket scene. He has commentated on games at the Cricket World Cup Challenge League. He tweets @jaycricketdude. GET THE BEST OF THE JAPAN TIMES Japan players form a huddle before their match against India in Potchefstroom, South Africa, on Jan. 21. | INTERNATIONAL CRICKET COUNCIL / VIA GETTY IMAGES RELATED PHOTOS Infielder-turned-batsman Shogo Kimura poses at the Sano International Cricket Ground in Tochigi Prefecture on Aug. 16, 2018. | INTERNATIONAL CRICKET COUNCIL Japan Cricket Association, Under-19 Cricket World Cup, Kazumasa Takahashi, Kenny Matsumura, Naoki Alex Miyaji, Alan Curr IN FIVE EASY PIECES WITH TAKE 5last_img read more

Svetoslav Dyakov: “My 11” – BG Football – efbet League

first_img“My 11” is the latest section of Gong.bg, in which former and current players will choose their ideal selection of 11 players. The obligatory condition that we set before each participant is that he has played with each of his chosen ones – whether in a club or national team.The first guest in “My 11” is the captain of Ludogorets Svetoslav Dyakov.The hearty midfielder shared in front of us his top team of former teammates in every position on the field. For some positions, the Eagles leader definitely encountered difficulties, while for others there was no hesitation.Who are the 11 of Svetoslav Dyakov – see in the video!last_img read more

Thatchers Cider Monday Pool League

first_imgDiva Sports Bar1511044733 Thirsty Beaver1512034936 Full Moon154011-3312 Results: Black Moonies 6 – 9 Diva Sports Bar, Diva Devils 5 – 10 Moonies Kitchen, Full Moon 7 – 8 Khao Noi Sports, GB Bar/BYE 3 – 12 Honeypot, Honeybees 10 – 5 Pride, Thirsty Beaver 9 – 6 Leks Bar Moonies Kitchen1512035536 Leks Bar154011-2112 TeamPWDL+/-Pts. Honeypot1510051830 Diva Devils158071524 Pride15708-1921 Black Moonies158073524 Honeybees155010-2815 Khao Noi Sports159061727 Results & Standings April 23 (week 15) GB Bar150015-1350last_img read more

Pochettino blames BREXIT for Spurs not signing a single player during window

first_img“And then with Brexit it is worse because the cost is 30 per cent more, and then keep the best players.”For me [that] is to be brave. Of course maybe in the mind of everyone they will say ‘Oh Tottenham didn’t sign’ — but to sign for the sake of signing?”Spurs face Newcastle in the 12.30pm kick off on Saturday and will play their second game of the season at Wembley against Fulham.They then face more games on the road against Manchester United and Watford, before welcoming Liverpool to their new home on September 15.Tottenham open new £850m stadium for ‘orientation day’ to fans to check out the view from their new seatPochettino added: “What the club is doing is showing it is so brave.”Building a new training ground, finishing this summer the lodge was a massive investment.”You need to respect all the opinions but of course we are a club that our decision was not to sign, (even though) it is the fashion to sign or because we are the only club in Europe that has not signed players.”That maybe looks bad because of the perception and because of the history of football.”But that is our decision – to keep the best players and to keep the squad. It’s a brave decision.”MOST READ IN FOOTBALLRETRACING STEPSJack Charlton’s granddaughter Emma Wilkinson ‘would love’ to visit IrelandROY RAGEFurious Roy Keane launched foul-mouthed rant at Pique over Fabregas friendshipPicturedTOP FORMBrazil icon Ronaldo soaks up sun with partner Celina Locks on yacht in FormenteraPicturedON THE PAOLPaolo Maldini shows off shredded physique at 52 while on holiday with wifeLive BlogUNITED LATESTMan Utd transfer news LIVE: All the gossip and updates from Old TraffordExclusiveLOCK CLOWNPaul Scholes flouts local lockdown rules by throwing huge 7-hour birthday bashPicturedMADD FOR ITPrem aces Dele, Maddison & Grealish enjoy hard-earned break in sun-soaked IbizaLive Bloggunners newsArsenal transfer news LIVE – Latest updates from the EmiratesLive BlogBLUES NEWSChelsea transfer news LIVE: Havertz deal LATEST, Willian move updatesMISS-RON IMPOSSIBLERonaldo LOSES Golden Boot race after axe from Juve squad for final game MAURICIO POCHETTINO has blamed BREXIT for Tottenham’s lack of summer signings.Spurs became the first Premier League club to NOT sign a player before the summer deadline since the transfer window came in 15 years ago.3 Mauricio Pochettino was speaking to the media ahead of Tottenham’s first game of the new season against Newcastle on SaturdayCredit: Getty – Contributor But Pochettino, 46, admitted he is happy with the current squad ahead of their move into their new stadium next month.And he pointed to Britain’s decision to leave the single market as one of the reasons why there is less value out there and less temptation to buy new players.Poch said: “Building a stadium that is nearly £1billion.”That is true, don’t believe in £400million, that is the truth.TRANSFER NEWSExclusiveCURSE FEARStrictly curse sees plans for stars and celebs to isolate together scrappedSAM SO SUMPTUOUSVictoria’s Secret Angel Sara Sampaio wows as she poses in racy lingerieExclusiveWAYNE’S AWAYWayne Bridge is selling his mansion — after John Terry moved in nearbyExclusiveRISKY BUSINESSRyan Thomas stops van on dual carriageway to treat himself to a Mr WhippyExclusiveBED GRIME STORYStormzy in talks to write series of children’s books about diversityTUNED INWhat the stars of Chris Moyles’ R1 show are doing now – from marriages to big jobsLive BlogBLUES NEWSChelsea news LIVE: Follow all the latest updates from Stamford BridgeLive BlogUNITED LIVEMan Utd news LIVE: All the latest updates and transfer gossip from Old TraffordExclusive’IT’S BEEN TOUGH’Alan Carr reveals lockdown pressures tempted his husband to drink againBUMPING ALONG NICELYKate Ferdinand shows off her growing baby bump during holiday with Rio3 Harry Kane, right, has been back in training after clinching the World Cup Golden Boot and the birth of his baby daughterCredit: Getty – Contributor3 Dele Alli will be hoping to improve this yearCredit: Getty – ContributorSign up for Dream Team 2018/19 nowDream Team is back and better than ever ahead of the new Premier League seasonCompletely free to play£400k jackpot up for grabs across the seasonREGISTER FOR DREAM TEAM 2018/19 HERElast_img read more

Brazil to play El Salvador in friendly

first_imgRIO DE JANEIRO (AP):Brazil will meet El Salvador in a friendly next month in a suburb of Washington, DC.The game will be held at FedEx Field in Landover, Maryland, on September 11, four days after coach Tite’s team takes on the US in a previously announced friendly at East Rutherford, New Jersey.The two matches will be Brazil’s first since its World Cup quarterfinal elimination against Belgium in July.They will also be the first games since Tite extended his contract until the end of the 2022 World Cup in Qatar.Tite will announce his squad next Friday. The matches are part of Brazil’s preparation for Copa AmÈrica, which it will host in June 2019.The US may not have a full-time coach in place for the September 7 friendly.Bruce Arena quit last October after the Americans failed to qualify for the World Cup. Dave Sarachan, his assistant, is now interim coach and has led the team to two wins, a loss, and two draws.Former US midfielder Earnie Stewart was hired as general manager this month and will lead the search for a full-time coach.last_img read more

How to prepare for the digitization of manufacturing

first_imgThe Ultimate Checklist on Ways to Prevent IoT D… 5 Industries Destined for Technological Disruption Yaniv Vardi How IoT Will Transform Cold Chain Logistics For… Related Posts center_img Imagine the mid-18th century.People going about their agrarian lifestyle completely unprepared for the Industrial Revolution that would change their way of life forever. In those days, the majority was completely unaware of the impending transformation the coming years would unveil: improved living standards, population growth, the rise of capitalism, urbanization, and more.Today, we are in a similar situation.We are on the cusp of another Industrial Revolution and most of us are ill-equipped to handle the forthcoming realities that will change the world, as we know it.History repeats itself …againThere have been three past industrial revolutions and if there’s anything we can learn from their similarities, it’s that they were much bigger than the technological innovations that defined them. They altered the realities of life for the people of their time and generations after. The farmers of pre-first-industrial-revolution Europe transformed into factory workers, (or far more effective farmers) and with that professional shift came a massive human shift. Gone were the days of subsistence living as a default, from then on the people of the industrialized world would live with a sense of economic ambition. Similarly, with the advent of the second great industrial revolution when those same factories were made far more efficient and more scalable; thus changing lives, economies, and societies.The third revolution took the suburban-living commuters employed largely by service companies and armed them with computers and mobile communications. As a result, lines between work and home began to blur and the 9-to-5 job morphed into an always-on and always-connected and mobile job.Now, the fourth industrial revolution — Industry 4.0 — is upon us and we must be prepared, lest we remain the last farmer without a cotton gin or the last stock trader without a cell phone.Each of previous industrial revolutions preceded societal transformation on an epic scale, with considerable economic, social, political and environmental implications. So too, each of the prior revolutions had innovation at their core. To understand the coming modernizations, we must understand the innovations that are shaping tomorrow.Digitization via IoT and the “big data” tsunamiLike the innovation of the assembly line fueled industry by connecting separate tasks, the IoT is fueling manufacturing by connecting separate devices. In the 1800s, when manufacturing tasks could be interwoven into an interdependent array of tasks in the assembly line, manufacturing became more efficient.Today, the IoT is interweaving asynchronous manufacturing equipment into an interdependent array of connected systems. These systems communicate with each other, monitor each other, self-optimize, and alert of any anomalies, thus minimizing downtime, reducing costs, and increasing outputs – in other words, making manufacturing more efficient.For manufacturers to ensure they are not left behind in the coming revolution, they must now take action to connect their equipment through the IoT, connecting disparate systems to enable intelligent flow of data.With the IoT serving as the method of innovation, Big Data serves as the catalyst, making it possible and increasing its effect. Thinking back to the first industrial revolution again, Morse’s innovation, the telegraph, acted to expedite the speed and increase the volume of information that is communicated.Today, Big Data systems are expediting the speed and increasing the volume of information that is collected and analyzed.To prepare for the coming revolution, manufacturers need systems that can automatically analyze big datasets into meaningful insights that can drive optimizations and efficiencies.How to minimize the effect of defectsThe third innovation that is contriving the coming revolution is akin to the “interchangeable parts” championed by Eli Whitney in the first revolution, which lessened the time required to repair devices.Today, predictive maintenance (and in the near future, prescriptive maintenance) advancements are reducing both planned downtime (from preventative maintenance) and unplanned outages (from reactive maintenance). Predictive maintenance relies on information to forecast which equipment needs which service at what time.By only performing the necessary service at the required time, resources are spared, critical systems run optimally and manufacturing becomes more efficient.To prepare, manufacturers should invest now in setting benchmarks and baselines for their equipment and acquiring systems that will use this information to order maintenance.An “In-DATA-strial” RevolutionManufacturing 4.0 is centered on data. Preparing for the revolution means becoming data-minded, retrofitting equipment to collect and communicate data, acquiring big data analysis systems, and learning how to use that data to drive business decisions.  Though the investment is minimal, the payout will be maximal.Like history has taught us, being prepared and remaining flexible to the new realities brought on by the revolution will position us to leverage the economic, social, political, and environmental gains it brings.The author is the general manager at Panoramic Power, a member of the Direct Energy group of companies, and a leading provider of device level energy management solutions.  Tags:#Direct Energy#IIoT#Industrial Internet of Things#industry 4.0#Internet of Things#IoT#Panoramic Power#predictive maintenance Electronic Design is Utilizing AI-Enabled Solu…last_img read more

Shubhankar Sharma takes two-shot lead at World Golf Championships

first_imgShubhankar Sharma took a two-shot lead at the halfway stage at the WGC-Mexico Championship on Friday.In his first appearance in a World Golf Championships event, Sharma added a five-under-par 66 to his opening round 65 to set the pace at 11-under 131 at Club de Golf Chapultepec in Mexico City.”I didn’t really put any pressure on myself before I came here. I expected to play well,” the 21-year-old told Golf Channel.”I’m really happy that I’m playing at such a high level and playing with all these great players. I’ve tried to enjoy myself as much as possible out there and this is the best position I could have been in.”I’ve definitely proved to myself that I belong here and I can play with the big boys.”Several of those big boys were lurking close, with Spanish duo of Sergio Garcia (65) and Rafa Cabrera Bello (67) in a share of second with American Xander Schauffele (68) on nine-under.First round leader Louis Oosthuizen (71) backtracked to fall four shots off the pace in a large group sharing fifth, which also included defending champion Dustin Johnson (66).Sharma entered the week already ranked first on the European Tour after two early-season victories but it would be fair to suggest he was not a name on everyone’s lips pre-tournament.An eagle on Friday at the short par-four first hole, where he drove the ball to inside two feet for a tap-in, changed that and bogeys at the next two holes proved minor setbacks.The five birdies he picked up on the back nine, including at the final three holes, helped him stamp his authority on the event.advertisement”I just kept the ball in play throughout the day,” Sharma said.”The only two bogeys I made were three putts. I kept the ball in the fairway and gave myself as many chances to attack the pin as possible.”Sharma has plenty to play for over the weekend, not least a shot at securing a spot at next month’s Masters.Currently ranked 75th in the world, he needs to climb into the top 50 in the next four weeks, or better yet win a tournament, to qualify for Augusta National.But Sharma is likely to feel some heat in the final two rounds, with reigning Masters champion Garcia among those poised to pounce.”We still have a long weekend to go,” Garcia said. “The course is getting firmer and tougher as the week goes on. Hopefully I can play more of the same.”(With inputs from Reuters)last_img read more