Financial – FK Leotar Fri, 28 May 2021 18:30:38 +0000 en-US hourly 1 Financial – FK Leotar 32 32 US trade deficit hits record high as economy picks up speed Wed, 07 Apr 2021 23:16:32 +0000

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By Lucia Mutikani

WASHINGTON (Reuters) – The US trade deficit hit an all-time high in February as the country’s economic activity rebounded faster than that of its global rivals and could remain high this year, with a massive fiscal stimulus expected to boost the economy. fastest growing in almost four decades.

The economy is booming as increased COVID-19 vaccinations and the $ 1.9 trillion White House pandemic bailout boost domestic demand, some of which is satiated by imports. President Joe Biden proposed a $ 2 trillion infrastructure plan last week, which is expected to attract even more imports and spur economic growth.

“The deficit could remain large this year and next due to the fiscal stimulus package and potential infrastructure that could pass in the second half of this year,” said Ryan Sweet, senior economist at Moody’s Analytics in West Chester, in Pennsylvania. “As the economy continues to strengthen, this will keep the deficit high.”

The trade deficit jumped 4.8% to a record $ 71.1 billion in February, the Commerce Department said on Wednesday. Economists polled by Reuters had forecast a deficit of $ 70.5 billion. The trade gap in goods was also the highest on record.

Exports fell 2.6% to $ 187.3 billion. Exports of goods fell 3.5% to $ 131.1 billion, likely hit by unusual cold weather in large parts of the country. The decrease was mainly attributable to capital goods shipments, which fell by $ 2.5 billion.

Exports of consumer goods fell, as did those of motor vehicles, parts and engines. There were also fewer exports of food products. The pandemic remained a drag on exports of services, in particular travel.

Imports fell 0.7% to $ 258.3 billion. Imports of goods fell 0.9% to $ 219.1 billion. The decline is likely a reflection of supply chain constraints, rather than weak domestic demand. In fact, imports of capital goods have reached a record level, boosted in particular by civil aircraft, medical equipment and electrical equipment.

Imports of industrial supplies and materials were the highest since October 2018, thanks to $ 1 billion in crude oil imports. This led the United States to register its first oil deficit since December 2019.

But imports of motor vehicles, parts and engines fell, as did those of consumer goods. The reduction in trade flows in February was partly due to inclement weather, logistics and transport problems at the ports.

“Congestion at the ports of Los Angeles and Long Beach, which together account for a third of US container imports, has caused container ships to be anchored offshore while waiting for available port space,” said Jay Bryson, chief economist at Wells Fargo Securities in Charlotte, North Carolina.

“Even when ships are moored and unloaded, port officials report a longer than normal container dwell time, or the time it takes importers to collect their cargo at port.”

Following the recent six-day blockade of the Suez Canal, economists expect trade flows to remain depressed in March.

Wall Street stocks were trading higher. The dollar slipped against a basket of currencies. The prices of the US Treasury were mostly higher.


Adjusted for inflation, the goods trade deficit soared to a record $ 99.1 billion in February, from $ 96.1 billion in January. The so-called real trade deficit is well above average for the period October to December.

Economists at JPMorgan estimate that trade could subtract a full percentage point from first-quarter GDP growth, which would be the third consecutive quarterly drag.

But this is unlikely to hurt estimates of first-quarter GDP growth, which currently stand at an annualized rate of 10%. The economy grew 4.3% in the fourth quarter.

Economists expect growth this year to exceed 7%, which would be the fastest since 1984. The economy contracted 3.5% in 2020, the worst performance in 74 years. The International Monetary Fund forecasts global economic growth of 6% this year, driven primarily by the US economy, which the fund has estimated will grow 6.4%.

From the labor market to the hard-hit manufacturing and service industries, activity picked up sharply in March.

But the housing market, one of the key players in the pandemic, is showing signs of fatigue.

A separate Mortgage Bankers Association (MBA) report on Wednesday showed applications for loans to buy a home fell 4.6% last week, down for a second week in a row.

According to the MBA, the 30-year fixed mortgage rate rose to 3.36%, a 10-month high. This, combined with rising house prices due to a severe shortage of properties, makes homeownership more expensive for some first-time homebuyers.

“With inventory at record levels and affordability increasingly tight thanks to rapid increases in house prices, we expect home purchase demand to decline this year,” said Matthew Pointon, senior real estate economist. at Capital Economics in New York.

(Reporting by Lucia Mutikani Editing by David Goodman and Paul Simao)

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Definition of parallel loan Wed, 07 Apr 2021 23:16:16 +0000

What is a parallel loan?

A side loan is a four-party arrangement in which two parent companies from different countries borrow money in their local currency and then lend that money to the other’s local branch.

The purpose of a parallel loan is to avoid borrowing money from one country to another with possible restrictions and fees. Every business can certainly go directly to the Change market (forex) to secure their funds in the appropriate currency, but then they would face risk of change.

The first parallel loans were implemented in the 1970s in the UK to bypass taxes that were imposed to make foreign investments more expensive. Nowadays, currency swaps have mostly replaced this strategy, which is similar to a back-to-back loan.

How a parallel loan works

For example, say an Indian company has a subsidiary in the UK and a UK company has a subsidiary in India. Each company’s subsidiary needs the equivalent of £ 10million to finance its operations and investments. Instead of each company borrowing in its original currency and then converting the funds into the other currency, the two parent companies enter into a parallel loan agreement.

The Indian company borrows 909,758,269 rupees (the equivalent of £ 10 million) from a local bank. At the same time, the British company is borrowing £ 10million from its local bank. They then each lend the money to each other’s affiliates, agreeing to a set term and interest rate (most loans of this type mature within 10 years). At the end of the loan term, the money is repaid with interest and the parent companies repay this money to their home bank. No exchange from one currency to another was necessary and therefore neither the two subsidiaries nor their parent companies were exposed to currency risk due to fluctuations in the rupee / pound exchange rate.

Companies can also lend to each other directly, completely avoiding the use of banks. At the end of the loan term, the company repays the loan at the fixed rate agreed upon at the start of the loan term, thereby ensuring risk of change during the term of the loan.

[Important: By having each party borrow funds in its home currency, a parallel loan seeks to avoid exchange risk—an adverse change in exchange rates between two currencies.]

Advantages and disadvantages of a parallel loan

As mentioned, parallel lending avoids the currency risk and possibly the legal limitations of cross-border lending. They also allow for lower interest rates, as each local business might have an advantage in borrowing in its own territory, as opposed to borrowing as a local affiliate of a foreign business. The credit rating of the branch may not be as high and as a foreign company it may be considered more risky.

When looking for parallel loans, the biggest problem companies face is finding counterparties with similar financing needs. And even if they find suitable partners, the terms and conditions desired by the two may not match. Some parties use the services of a broker, but brokerage fees must then be added to the cost of financing.

The risk of default is also an issue, as failure by one party to repay the loan on a timely basis does not release the obligations of the other party. Usually, this risk is offset by another financial agreement or by a conditional clause covered in the original loan agreement.

Special considerations for a parallel loan

Companies could implement the same hedging strategy by trading in currency, cash or future. And indeed, as forex trading has grown over the past two decades, with digital platforms allowing trading virtually around the clock, side lending has become less common. Still, they can be more convenient, especially if both parties plan to lend to each other directly.

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Former Traverse City area prison vying for new Space Command control center Wed, 07 Apr 2021 23:16:11 +0000

KINGSLEY, MI – The Former Pugsley Correctional Facility is one of six finalists that could become the home of a new Space Command Control Center that would support two launch sites around the state. According to Up North Live, the old prison made the final cut of a group of 13 sites around Michigan.

The command center would be responsible for controlling launches from a vertical launch site north of Marquette and a horizontal launch facility at Oscoda. These two facilities, combined with the command center, are expected to create more than 2,000 new jobs. Work on the Oscoda facility is expected to be completed in early 2024, according to the Michigan Aerospace Manufacturing Association.

The association estimates that up to 40,000 jobs could be created as the space program expands in Michigan in the years to come. The launch sites will involve initiatives that will work to improve several areas of the state’s technology for things like internet access, 5G networks for autonomous vehicles, and other areas such as communications, education, medicine. and first responders.

Grand Traverse Director of Economic Development Lauren Tucker is hoping the site will be selected thanks to a few perks already in place at the facility.

“We have the security of a federal base, but in fact the commercial access, as well as this one, is supposed to be a dual-use command and control center,” Tucker said. “Here in Northern Michigan, we can be a connection to space, which would not only increase awareness in our community, but also increase jobs at all levels in the STEM field, including high paying jobs. in the space industry.

Pugsley Correctional Institution was closed in 2016 by the state as the level of inmates declined. A decision on where to build the command center is expected in November.

Detroit News reports other sites under consideration are Selfridge Air National Guard Base in Harrison Township, a site in Ypsilanti, a property in Dowagiac, the former Sawyer Air Base in Marquette and Sault Ste. Marie’s Chippewa County Airport.


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U.S. Airlines See ‘With Legs’ Recovery, Shares Rise To Pre-pandemic Levels Wed, 07 Apr 2021 23:15:54 +0000

(Reuters) – U.S. airline executives on Monday pointed to concrete signs of a resumption of domestic pleasure travel as a pandemic downturn drives spring and summer bookings, pushing shares to their highest level since that the coronavirus crisis hit the industry a year ago.

FILE PHOTO: A United Airlines airliner takes off with New York in the background, at Newark Liberty International Airport, New Jersey, United States, December 6, 2019. REUTERS / Chris Helgren

“We are certainly seeing the start of what looks like a very big increase,” said American Airlines CEO Doug Parker, one of several CEOs speaking at a JP Morgan conference.

Ted Christie, CEO of low-budget airline Spirit Airlines, said the recovery seemed “to have legs.”

Executives cited data showing that U.S. vaccinations against COVID-19 are accelerating and have exceeded the number of positive cases, which are on the decline.

As of Sunday, 21% of the American population had received at least one dose of a vaccine.

As a result, people are booking vacations and visiting friends and relatives, helping to slow the pace of expected first-quarter income declines, even as business and international travel remains depressed.

Airlines shares began to drop dramatically on February 21, 2020, as the pandemic spread, reaching a low on May 14 and gradually increasing since then to the current high.

United Airlines plans to end its consumption of cash in March, said CEO Scott Kirby, the first major carrier to say it could leapfrog the industry. In January, United said an average daily core cash consumption of $ 19 million in the fourth quarter would likely continue into early 2021.

The positive trend in core cash consumption is expected to continue after March, assuming the current trajectory of reservations remains in place, Kirby said. Core cash consumption excludes debt and severance pay.

United shares jumped 9% and the Dow Jones US Airlines index [.DJUSAR] climbed more than 4%.

Delta Air Lines is “cautiously optimistic” about the possibility of stopping its consumption of cash this spring, said CEO Ed Bastian.

Delta said it will use cash for second-quarter aircraft purchases and expects first-quarter revenue decline to be at the low end of its forecast of 60%. at 65% compared to the same quarter in 2019, before the start of the pandemic.

Southwest Airlines estimated lower cash consumption in the first quarter and lower operating revenue for March than previously expected.

JetBlue Airways also forecast a slowdown in the decline in revenue in the first quarter, projecting a decline of between 61% and 64%, compared to the same period in 2019. It had previously forecast a decline in revenue in the first quarter. 65% to 70% business.

American, the most indebted U.S. airline, has said it is no longer looking to raise financing after a $ 10 billion debt deal last week and expects to have more than $ 17 billion in cash at the end of March.

More than 1.3 million passengers were screened at U.S. airports on Friday and Sunday, according to Transportation Security Administration data, the highest number since the pandemic crushed air travel in 2020.

“I think we’re near the end of the virtual world,” United’s Kirby said.

Reporting by Tracy Rucinski and Sanjana Shivdas; Additional reports from Ankit Ajmera; Edited by Louise Heavens, Paul Simao, Jonathan Oatis and Aurora Ellis

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Maharashtra not to extend the stamp duty reduction; maintains the status quo on circle rates Wed, 07 Apr 2021 23:15:53 +0000

NEW DELHI: In relief for homebuyers, the government of Maharashtra has decided not to increase immediate calculation rates, also known as circle rates, for fiscal year 2021-22 (FY22). However, against the expectations of many, the state government decided not to extend the stamp duty cut. Home sales recovered well, supported by reductions in stamp duties, low mortgage rates and attractive programs offered by developers.

Amit Goyal, CEO of India Sotheby’s International Realty, believes that extending the stamp duty reduction would have helped maintain sales momentum.

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“The reduction in stamp duties, which was introduced in September last year to help the real estate industry weather this global crisis, has helped accelerate demand for housing in the primary and secondary residential markets, including the upscale luxury hotels in the Mumbai Metropolitan Area (MMR) and Pune, the two key cities in the state. The sales registration numbers of these two cities bear witness to this fact. Even the state government revenues remained intact, in fact they increased during this period of September 2020 and March 2021. It was a win-win situation for all stakeholders and gave the sales momentum essential to MMR developers, ”said Goyal.

Home sales have picked up in the state, with the government cutting the stamp duty in August from 2% to 3%. The stamp duty was reduced to 2% from 5% until December 31, 2020, and was 3% in January-March 2021. The reduced rate expired on March 31, 2021 and many had hoped that the government would offer an extension. . On Women’s Day, the government announced a 1% reduction in stamp duty, which would come into effect on April 1.

Some experts believe, however, that the decision not to extend the stamp duty reduction will not deter homebuyers.

“The reduction in stamp duties has certainly helped boost residential sales in the Mumbai metropolitan area (MMR), despite the pandemic. That said, the speed of sales was also helped by discounts given to builders and low interest rates on home loans. Together, these factors have lowered the cost of buying a home in MMR by 5 to 15%. Still, the people of MMR aren’t buying homes just because they’re cheaper – they are buying them because the covid-19 pandemic has instilled urgency and a desire for self-reliance from rent and landlords. ” , said Anuj Puri, chairman of Anarock Property Consultants.

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Banking services to continue to focus on technology; vaccines and stimuli needed to bounce back consumers Wed, 07 Apr 2021 23:15:48 +0000

It wouldn’t be easy to predict what might happen in the state’s banking sector in 2021 without first looking back.

“2020 has certainly been a tough environment,” said George Gleason, chairman and chief executive officer of Bank OZK in Little Rock, the state’s largest bank. “I don’t know if I would rate it more difficult [year] in my 41 year career. But it has been a difficult year.

The COVID-19 pandemic presented serious challenges for banks in 2020. As the economic effects of the health crisis spread, retail banks found themselves faced with broad priorities that required a specific line of action for the moment – think about paycheck protection program loans – while rethinking strategies for the future.

“I’m optimistic 2021 will be more routine than 2020,” said Jon Harrell, president and CEO of Generations Bank at Rogers and chairman of the Arkansas Bankers Association. “But the impact of 2020 will continue into next year. Community banks continue to work with clients to get their PPP loans canceled and there are still important areas of our markets like hospitality and retail that we will continue to work with until things get right. stabilize.

According to the latest data from the Federal Deposit Insurance Corp. (FDIC), Arkansas’ 86 federally insured lenders reported cumulative net income of $ 999 million in the third quarter of 2020, down 18% from a year ago. Banks increased their combined assets to $ 131.14 billion, up 17% year-over-year. Deposits reached $ 105.82 billion.

Brad Crain is President and CEO of Arvest Benton County, the largest of the company’s 14 locally managed markets in Arkansas, Kansas, Missouri and Oklahoma. He said that while the impact of COVID-19 on the banking sector is not yet fully understood, it will not be as significant as the 2008 financial crisis.

Brad Crain, Arvest Benton County President.

“Much of the outlook for 2021 will depend on any upcoming government stimulus and relief measures and how long it will take for the consumer to fully rebound,” Crain said. “Most importantly, I believe that banks will continue to be reliable stabilizers for our communities and customers – both consumers and business – and for the economy in general.

“We are here, more than ever, to provide the products and services our customers need.”

The three banking executives agree that products and services in 2021 will continue to focus on technological improvements. When the pandemic arrived, most banks entered a crisis mode of building or expanding digital capabilities that allowed customers to conduct banking business without stepping into a physical branch. Capitalizing on the newly formed customer habits in 2020 will be a priority.

“The technology and ease of use of banking products will continue to be critical to the future of the industry,” said Harrell. “It will also affect what the future bank branch will look like.”

Gleason said Bank OZK has been committed to developing its technological know-how for several years. A group of around 50 software engineers, code writers, and application builders known as OZK Labs are based in St. Petersburg, Florida.

George Gleason, CEO of Bank OZK.

“Banks that have significant technology products and services will thrive, and banks that have mid to inferior technology products to serve their customers will be challenged to keep pace,” said Gleason. “Customer demands for technological solutions are increasing every day.”

Crain said some industry analysts say digital channel adoption has been brought forward 5 to 10 years due to the COVID-19 pandemic.

“The digitization of banking services has accelerated over the past year, and I expect this to continue,” Crain said. “Customer satisfaction in the face of increasing digitization must be at the heart of the concerns. How banks will create blended service models that combine both digital and in-person to improve customer satisfaction is critical.

“Before COVID-19, withdrawing and depositing cash were the main activities of branches. As digital payments become the norm, we expect the branch to become a place for meaningful discussions about the financial well-being of customers. Banks that have invested in robust digital channels are likely to experience solid growth and a more stable customer base if they can balance that with a high quality customer experience by being their customers’ financial advisors in the branch experience. “

Gleason described a bank’s relationship with customers as symbiotic – what’s good for customers is good for the bank, and vice versa. He said the better prospect for the two in 2021 was the favorable prospect of widespread distribution of the COVID-19 vaccine.

“It will ultimately put this COVID-19 pandemic behind us,” he said. “It’s going to be good for our customers and the economy, and it’s going to be good for the banks.”

Jon Harrell, CEO of Generations Bank and Chairman of ABA.

Harrell said the low interest rate environment would lower banks’ net interest margins, which is of concern. This puts pressure on banks to look for ways to increase non-interest income.

“The surge in the residential real estate market has been one of the positives in the low interest rate environment,” he said. “Assuming demand remains strong, home sales and refinancing are a good source of non-interest income for banks.”

Working from home will continue to impact many businesses, including banks. Harrell said it appears productivity hasn’t suffered, while the potential cost savings from lower overheads puzzled many organizations. Crain said from an operations perspective, he expects banks, like other industries, to continue to adapt to employees working remotely and emphasizing flexible workplace models.

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Election 2021: Normal Candidates for Council on Pandemic Recovery Wed, 07 Apr 2021 23:15:48 +0000

Normal city council candidates turn the question of pandemic recovery efforts into a litmus test of past pandemic response, but say little about what should follow.

The city has already done some things to help the pandemic recover. He used federal community development grants for two rounds of housing assistance grants. It provided $ 500,000 in forgivable loans and grants to small businesses, again as a federal transfer.

Outgoing board member Kevin McCarthy said it showed positive attention to the issue.

“The city has been very successful in getting out and bringing back tax dollars to help our local residents,” McCarthy said.

All of the candidates are particularly silent about new steps the city can take to help the community recover. Indeed, incumbent Chemberly Cummings said there were budget limits.

“To be honest, I don’t think there’s really (a lot more to do locally). We’re already working on kind of a tight budget due to our losses from the pandemic, so I think we’ll eventually have to rely on federal and state level assistance, ”Cummings said.

As with most issues in this electoral cycle, there are two well-defined blocks of candidates when it comes to how the city should shape pandemic aid going forward.

The group consisting of Donna Toney, Steve Harsh and Karl Sila criticize the response to the pandemic so far and label future efforts as do not to do rather than specific actions to be taken.

“The main thing the city has to do is get out of the way. Much like the Hippocratic Oath, do no harm first,” Sila said.

Sila and the others believe the city shouldn’t have cracked down on some businesses that have insisted on disobeying the governor’s decree banning dining service during COVID outbreaks.

“The city is coming in and shutting them down without the involvement of the health department. With the city fining them for political reasons, all of this hinders rather than facilitates recovery,” Sila said.

Supporters of the indoor eating bans when they were in place have called the law enforcement measures a means to control the spread of the coronavirus – not a policy.

Sila said people should be able and make their own decisions.

Harsh also disagreed with the city’s action to support the state’s action to preserve public health.

“Allowing each business to be open and operate under its own control,” Harsh said. “If the governor wants all businesses closed, let the governor shut down all businesses.”

The fourth candidate in that group, David Paul Blumenshine, did not respond to requests for interviews from the WGLT, despite being known to be a government minimalist.

The other block of applicants tends to focus on actions such as suspending liquor license fees for a year. Among them, the chairman of the Planning Commission and candidate for the council, AJ Zimmerman.

“Allow take-out liquor sales or increase the number of outdoor seating so that we can achieve a certain level of capacity,” Zimmerman said.

Holder Scott Preston acknowledged that the alcohol license fee waiver was a small gesture, but said it should not be reduced.

“We bring a kind of relief and a kind of recognition that, at least, we hope it gets you through a tough year, acknowledging that they had already paid those fees for 2020 before the pandemic hit,” Preston says. .

He and his titular colleague, Kevin McCarthy, said the liquor license fee might only be around $ 3,000, but it’s big enough to mean something right now. McCarthy said the waiver is also an example of the creativity the board must have when new possibilities arise.

“We don’t have a ton of money to give. OK, we can waive some liquor license fee for a year. Maybe we can do it for two. It depends on how it goes. happening. But we have to be able to do it. Identify the most pressing needs, then get creative about what we can do to alleviate them. And that means we have to have a good conversation, “McCarthy said.

And candidate Brad McMillan said the conversation should include vigilance and responsiveness to future federal transmission opportunities.

“This new round of federal funds from Washington, DC has a restaurant and bar component. It should hopefully help them survive until we finally get around the corner,” McMillan said.

All applicants recognized that the road to recovery will be long. The election takes place on April 6.

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Chelsea’s Michy Batshuayi ready for six-month Monaco loan Wed, 07 Apr 2021 23:15:47 +0000

Chelsea forward Michy Batshuayi will be on loan at Monaco until the end of the season, sources have told ESPN FC.

The deal will not include a purchase option at the end of the current campaign.

Batshuayi is expected to be in Monaco on Sunday for his medical examination, and his transfer is expected to be announced by Monday.

Monaco manager Thierry Henry wanted to sign a striker to join forces Radamel Falcao up front or to tour with the Colombia international, and Batshuayi has become available after his initial season loan to Valencia was cut short by the Spanish club this week.

The 25-year-old Belgium international has never been in Maurizio Sarri’s plans this season at Chelsea and has never started in La Liga. He has played 15 times for Valencia in the league but has only scored once. In total, he has scored three goals in 23 appearances for Los Ches.

However, he was eager to return to France where he shone with Marseille before a move to Chelsea in the summer of 2016.

With Marseille, he scored 17 goals in 36 league appearances in the 2015-2016 season and Monaco are hoping to rediscover that form to help the struggling Ligue 1 team stay in place. The 2017 French champions are going through a very difficult season, in 19th place in the standings. They have only won twice in Ligue 1 since August 11.

This decision would be the third loan granted to Batshuayi in a year, after Borussia Dortmund (from January 2018 to May 2018) and Valencia.

He is Monaco’s fifth signing this month, following midfielders Cesc Fabregas – a former Chelsea teammate – and Antalyaspor William Vainqueur, in addition to left-back Fode Ballo-Touré from Lille and former center-back Schalke Naldo.

In the Principality, Batshuayi will work again with Franck Passi, who was one of his managers in Marseille and now his assistant to Henry at the Louis II stadium.

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Chelsea escapes UEFA punishment for alleged anti-Semitic chants Wed, 07 Apr 2021 23:15:47 +0000

Chelsea escaped a partial stadium closure after UEFA closed an investigation into alleged anti-Semitic chants by supporters during a Europa League game against Vidi in Hungary in December without penalty.

Had the charge been upheld, part of Stamford Bridge would have been closed for the home game of Chelsea’s round of 16 game with Dynamo Kiev, scheduled for March 7.

Chelsea still face possible disciplinary action from UEFA over alleged actions by their supporters against Malmö in the Europa League round of 16, with separate charges of throwing objects and invading pitch by supporters which will be considered on March 28.

UEFA opened disciplinary proceedings against Chelsea for racist behavior in January following reports on social media of anti-Semitic chants from the section of Groupama Arena which housed the 1,273 Chelsea fans who had traveled to Budapest.

Shortly after the game, a Chelsea spokesperson condemned the chants, saying they had “shamed the club”.

The decision by UEFA’s Control, Ethics and Disciplinary Body is particularly embarrassing for Chelsea, who have gone to great lengths in their attempts to root out anti-Semitism from football since launching a targeted campaign at the request of owner Roman Abramovich in January 2018.

Holocaust survivor Harry Spiro was invited to Cobham to address the first team the same month, while Chelsea sent a delegation to attend the annual March of the Living in Auschwitz the following April.

This was followed in June by an official visit, made up of 150 supporters and club officials, to the Nazi concentration camp.

Chelsea announced in December that they would play for Major League Soccer club New England Revolution in a post-season friendly, titled ‘Game for Change’, as part of their campaign against the anti-Semitism.

Abramovich and Revolutionary owner Robert Kraft, both Jews, pledged to donate $ 1million (£ 778,565) to the fight against anti-Semitism, with all money from ticket sales also going to the cause.

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USA have work to do for Mexico final Wed, 07 Apr 2021 23:15:47 +0000

NASHVILLE, Tennessee – United States Men’s National Team manager Gregg Berhalter said his team’s 3-1 win over Jamaica in the Gold Cup semi-finals was a “step in the right direction “.

The United States advanced to Sunday’s final against rivals Mexico with two goals from Christian Pulisic and another from Weston McKennie. The hosts had to work an hour and 28 minute weather delay in the first half, as well as a second half resurgence of Reggae Boyz, but were finally able to see the match come to an end.

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“As a coach you are always looking for something better, you are always looking for greatness and the team is always looking for greatness,” said Berhalter. “There were some good things today for sure.

“And I think we want to keep growing. It’s hard to say it was our best. I think it was a step in the right direction against a more physical team than what we’ve been through. I think that it was good to have a victory for confidence. “

The United States threatened to hammer Jamaica from the start, continuing McKennie’s opener in the ninth minute and creating plenty of more chances. But in the 16th minute, play was cut short due to the threat of lightning. This interrupted the momentum of the Americans and allowed Jamaica to recover.

“I think if I had to criticize one aspect of the game, I didn’t think we came out of the break with the same intensity, and it’s hard to recreate that, as we started because we started really well,” he said. he added. Said Berhalter. “I would say we are critical about it.”

Pulisic doubled the lead in the 52nd minute, bouncing off the rebound from Jordan morris‘ shoot. Replace Gyasi Zardes then had a glorious chance to put the game to bed in the 57th minute when McKennie netted a goal but shot wide. This sparked a Jamaican retaliation, and the visitors scored a 69th-minute goal on Shamar nicholsonat the head of. Reggae Boyz then repeatedly threatened Leon Bailey, but couldn’t find a way. Pulisic finally sorted things out in the 87th minute, converting another rebound, this time from Paul Arriolashoot.

“In my opinion, we lost our legs a bit,” Berhalter said of the team’s drop in form in the second half. “What I think is that we were developing our transitions too quickly, we didn’t secure the ball and we wanted, I think, the knockout too quickly. We had the opportunity with Gyasi to make 3 -0. That would have been nice, but we didn’t get it.

“However, I think the team shows a lot of resilience when they go 2-1, and there is still a lot of time to play, 15 minutes to play. Now we have to find out what this group is. Now we have to find out, will we concede the second, or will we score the third? It was a pivotal moment for me. I’m really disappointed that we conceded a goal in this tournament, but it’s a moment of learning, and looking back on it now, I’m glad we did because the guys had to dig deep. ”

Berhalter also congratulated the fans in attendance, the vast majority of whom stuck around, despite the weather delay.

“Lots of credit to the fans, they really helped us get through it,” he said. “I’ve been in situations where time is slow to come out and the stadium is empty. Then it’s hard to bring in the same energy. But the supporters were amazing.”

The next challenge for the United States will be Sunday’s final against Mexico, and it will be Berhalter’s first experience of Berhalter’s rivalry as manager.

“We have already started to prepare. We have already started watching them in the last few days,” he said. “I think they’re a good team, quality players, I think a good team concept, with a lot of intensity that they play with, and they can hurt teams. Having said that, they are also vulnerable and we plan to be able to do that. hurt them too. “

This day has the potential to be an unforgettable day in the annals of American football. The United States Women’s National Team will play in the FIFA Women’s World Cup final on the same day against the Netherlands, with the men scheduled to face Mexico later.

“It’s great,” Berhalter said of two finals in one day. “It’s rare. It doesn’t often happen that two teams from the same country play in a continental final and a World Cup final.

“I think it’s a special day, and it’s a special day for American football. We will see the women earlier today, and we will cheer them on. I know they will cheer us on.”

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