Shell moves to cut costs due to coronavirus outbreak

first_imgIn response to the current market environment, oil major Shell has decided to reduce its operating costs by up to $4 billion in 2020 and to cut its capital expenditure from $25 billion to $20 billion.As the COVID-19 virus spreads across the world – seriously impacting people’s health, the way of life and global markets, Shell said on Monday it is taking decisive action to reinforce the financial strength and resilience of its business so that it is well-positioned for the eventual economic recovery.“As well as protecting our staff and customers in this difficult time, we are also taking immediate steps to ensure the financial strength and resilience of our business,” said Ben van Beurden, Chief Executive Officer of Royal Dutch Shell.“The combination of steeply falling oil demand and rapidly increasing supply may be unique, but Shell has weathered market volatility many times in the past.”“In these very tough conditions, I am very proud of our staff and contractors across the world for maintaining their focus on safe and reliable operations while also ensuring their own health and welfare and that of their families, communities and our customers.”In order to deliver sustainable cash flow generation, Shell is actively managing all its operational and financial levers – from focusing on maintaining safe and reliable operations each day to reducing capital spend and operating expenses.According to the company, it is embarking on a series of operational and financial initiatives that are expected to result in reduction of underlying operating costs by $3-4 billion per annum over the next 12 months compared to 2019 levels; reduction of cash capital expenditure to $20 billion or below for 2020 from a planned level of around $25 billion; and material reductions in working capital.Together, these initiatives are expected to contribute $8 – 9 billion of free cash flow on a pre-tax basis. Shell is still committed to its divestment program of more than $10 billion of assets in 2019-20 but timing depends on market conditions.The board of Royal Dutch Shell has decided not to continue with the next tranche of the share buyback program following the completion of the current share buyback tranche.“We will continue to review the dynamically evolving business environment and are prepared to take further strategic decisions and consider changes to the overall financial framework as necessary,” Shell said.Shell said that its liquidity remains strong, with around $20 billion in cash and cash equivalents, $10 billion of undrawn credit lines under the revolving credit facility and access to extensive commercial paper programs.last_img read more

Covid-19: China orders compulsory military training for footballers

first_img Loading… The order was made on Friday, and clubs had until Tuesday (today)  to tell the CFA how they would adhere to it. They will also face random inspections to make sure they’re following the instructions. The CFA said the training was designed to help realise Xi’s grand plans, launched in 2016, to make China a major footballing nation. At the same time, players must also do their bit to fight the deadly coronavirus, which emerged in central China in December and has since spread across the world Read Also Milan donate €250,000 to support the Coronavirus emergency “Achieve epidemic prevention and control on one hand, and focus on training and battle preparations on the other,” the CFA said.”Both hands must be strong and both battles must be won. “Men’s and women’s national teams and professional football clubs are requested to strictly follow the notice,” the CFA added. The results of the surprise checks will be made public and clubs will be ranked to shame underachievers into action. FacebookTwitterWhatsAppEmail分享 Chinese football clubs and national teams must undertake “spring military training” to defeat the coronavirus and help fulfill President Xi Jinping’s dream of making the country a force in the sport, officials said. Matches in China are indefinitely suspended over the outbreak but the football association has issued detailed orders, telling clubs how long players must train each week, what exercises they must do and even how slim they must be. The strict instructions, the latest in a series handed down by the Chinese Football Association (CFA) in recent years, are likely to be met with surprise by coaches such as Rafael Benitez and Fabio Cannavaro with a background in European football. But Cannavaro, at Chinese Super League (CSL) champions Guangzhou Evergrande, and Benitez at Dalian Pro are among the coaches who will be held directly responsible for incorporating the training regime into their pre-season programmes. Chinese League defending champions Guangzhou Evergrande Promoted ContentThe Very Last Bitcoin Will Be Mined Around 2140. Read More6 Most Unforgettable Bridges In The WorldBirds Enjoy Living In A Gallery Space Created For Them6 Incredibly Strange Facts About Hurricanes10 TV Characters Who Were Destined To Become Iconic7 Universities In The World With The Highest Market ValueThe Models Of Paintings Whom The Artists Were Madly In Love With7 Ways To Understand Your Girlfriend BetterCouples Who Celebrated Their Union In A Unique, Unforgettable Way10 Hyper-Realistic 3D Street Art By Odeith9 Facts You Should Know Before Getting A TattooWhat Are The Most Delicious Foods Out There?last_img read more

Thousands peacefully protest ‘French IVF law’

first_imgThe bioethicslaw, which has cleared its first reading in the parliament, would lift thecurrent restriction limiting in vitro fertilization (IVF) to heterosexualcouples. PARIS – Around42,000 protesters took to the streets in the French capital peacefullydemonstrating against a draft law allowing lesbians and single women toconceive children with medical assistance, according to the police. For some inPresident Emmanuel Macron’s governing party, the bill revived memories of thedisruptive and sometimes violent protests against his predecessor FrancoisHollande’s “Marriage For All” law which legalized gay unions.    Protesters march against a reform bill that will widen access to medically-assisted procreation to lesbian couples and single women, in Paris, France on Oct. 6. REUTERS/CHRISTIAN HARTMANNcenter_img Those protestspeaked in January 2013 with a demonstration attended by thousands of people. Remnants of thesame “Demonstrations for All” movement, founded in opposition to Hollande’slaw, took part in Sunday’s march.(Reuters)last_img read more

Lady Cats Battle Lady Pirates On The Court

first_imgThe Franklin County Lady Wildcats Volleyball team suffered a tough loss at home against the Pirates of Greensburg 25-19, 25-14, 25-22.The team is still working on getting better and playing as a team. Autumn McDaniel served 2 aces and had 5 digs for the night. Kamryn McCool had 3 kills. Kendall McCool had 9 assists. Kayley Schoettelkotte had 3 great blocks. The team had 23 digs. They are improving and are working hard.They are back in action for their fourth match of the week as they travel to Connersville Saturday for their first road game. The game starts at 10:00 am with the freshmen, then the JV, and the Varsity bringing up the third game.The JV Lady Cats had a great night on the court. We were able to over come team obstacles along with some individual struggles tonight to beat the Greensburg Lady Pirates 25-24, 22-25, 15-14!!Sydney Graf lead the team with 6 kills and 1 ace serve. Anna Sacksteder added 5 kills for the night. Kaylynn Rauch added 3 kills and 3 aces. Lilli Stewart added 4 kills and 2 aces. Kelly Layton had 9 assists and Audrey Reister added 5. Jalynn Rogers, Kelsey Vail and Charlotte Barrett keep the back row alive with many amazing digs and passes!!!‘If you hear me say this once this year, you will probably hear me say it more than twice .. this team is a very strong team once they all get on the same page.’  Wildcats Coach Jill Mergenthal.This team bettered their record to 2-1 tonight and we will travel to Connersville this Saturday, Aug 19th to take on the Lady Spartans at 10am. Come on out and support your very own Lady Cats!!!!!Our freshman opened their season against our E.I.A.C. Greensburg Pirates. We played a great game and stayed right with our opponent even though we didn’t come out on top 25-24, 25-19.Kloe Bolos led the team in kills with 3 while 4 others also had a kill. Alexis Pennington had 6 aces followed by Kloe Bolos with 5.‘We’ve got a strong team and I’m excited to watch them grow together as they continue to play this season.’ Wildcats Coach Logan Allen.We will be on the road Saturday morning to take on the Connersville Spartans.last_img read more

INDOT kicks off roadside mowing campaign

first_imgAurora, In. — Indiana Department of Transportation personnel met with a representative of Olco Inc. this week at Seymour District offices to discuss schedules for full-width mowing along state highway right-of-ways this spring/summer.  The Batesville contractor plans to begin first-cycle mowing operations in May under three roadside maintenance contracts that total $575,726.Indiana’s right-of-way mowing is slated to start in the INDOT Falls City subdistrict region, then move to Madison and Aurora subdistrict regions.Olco will mow, trim and remove litter along 266 miles of Indiana highways within the Falls City region—which includes these routes in Clark, Floyd, Harrison and Washington Counties:  State Roads 3, 11, 60, 62, Old 62, 64, 111, 135, Old 160, 211, 335, 337 and 462—and U.S. Highways 31 and 150.First-cycle mowing operations will then move to 430 miles of state highways within the Madison subdistrict area—which include these routes in Clark, Jackson, Jefferson, Jennings, Ripley, Scott, Switzerland and Washington Counties:  State Roads 3, 7, 39, Old 39, 56, 60, 62, 135, 160, 203, 250, 256, 335, 356 and 362—and U.S. Highways 31, 50 and 421.Finally, 420 miles of highways within the Aurora subdistrict area will be mowed and trimmed—including these routes in Dearborn, Franklin, Ohio, Ripley and Switzerland Counties:  State Roads 1, Old 1, 46, 48, 56, 62, 101, 129, 148, 229, 250, 252, 262, 350 and Old 350—and U.S. Highways 50, 52 and 421.INDOT officials advise motorist to be alert for tractors/mowers, vehicles and workers entering and leaving roadside areas.last_img read more

Defoe show delights Spurs boss

first_img England international Defoe, who will leave next month to join Major League Soccer team Toronto FC, came on with the game finely poised at 1-0 following Christian Eriksen’s opener, and sewed up the three points for Sherwood’s side with a measured finish. Palace had dominated the first half and should have been in front after they were awarded an early penalty, which was hammered high and wide by Jason Puncheon. Tottenham boss Tim Sherwood highlighted the influence of goalscoring substitute Jermain Defoe as he admitted his side were caught cold by Crystal Palace before running out 2-0 winners at White Hart Lane. Press Association “We could have scored a few more and then Jermain comes on and gives us a bit of breathing space.” Despite falling to the foot of the table, Palace boss Tony Pulis said he would have taken such a position at this stage of the season, with just six points separating the bottom half of the Premier League. “We’ve gone bottom because Sunderland and West Ham have won,” he said. “But it has actually had a concertina effect, moving everyone closer when you look at it now. “When I came to the football club if you said this would be the situation with 17 games to go I would have taken it. It gives us a great chance and a great opportunity, it gives us as good a chance as everyone else. “I thought we played really well in the first half and I was disappointed not to come in with a lead. The size of the lead would be debatable but I don’t think anyone could question we deserved to be winning at half-time.” Pulis also highlighted the need to add more players to his squad during the transfer window, with those boasting previous Premier League experience preferable to the former Stoke manager. “When we come under pressure we need to have more strength about us,” he said. “We have players who are exciting players and can do things. We have got a budget we have got to keep to. “It is just trying to get players who have got something to prove, people who have got a little experience in the Premier League who have faded away and want to come to us and have another crack at it.” Eriksen opened the scoring five minutes after the break before Defoe grabbed his first Barclays Premier League goal since April to take Spurs fifth in the table and leave his manager delighted. “Jermain will score wherever he plays, in any league in the world,” Sherwood said. “He is a goalscorer, he loves scoring goals and if he doesn’t score he gets the hump. He will go home happy tonight. “He warmed up like an Olympic athlete. I saw the appetite he was showing to come on and when he came on he showed his worth.” Palace, who slipped to the bottom of the table following the defeat, not only spurned a penalty chance but also created the best of the opportunities before the break, with Sherwood admitting the Eagles were much more attacking than he had anticipated. “I think we were taken a bit by surprise by Palace,” he said. “The amount of attacking options they had, they were very powerful in the wide areas and deliver a lot of balls into our box and we had to stand up to it. “The only positive for me in the first half is that we got in at 0-0 but in the second half I thought we matched them for desire and effort and then our quality shone through. last_img read more

Monk demands full price for Bony

first_imgGarry Monk insists Swansea’s valuation must be met before Manchester City can complete the signing of Wilfried Bony. “This is the world we live in and these are the discussions that take place. “But Wilf has shown how committed he has been to Swansea City and until a deal is done – if it is done – then he will have no problems whatsoever with that.” Swansea have a ready-made replacement in Bafetimbi Gomis with the 12-times capped France striker having had to wait patiently in Bony’s shadow since joining on a free transfer from Lyon last summer. The 29-year-old has made only eight starts in all competitions this season but he has scored four times and been linked with a January exit from Swansea himself with Crystal Palace, Newcastle, West Ham and Aston Villa among those reported to be interested. “I’m not going to have any players left, am I?” quipped Monk. “Bafe’s here and he’s a big part of the squad. “In terms of selection it’s been difficult for Bafe because there’s not much between them, but Bony has been on good form and kept his place in the team. “Bafe’s chomping at the bit to get in there and I was looking for him in this period to come in and prove what he will want to do, score goals and give 100 per cent for the team.” Press Association Bony’s agent Francis Kacou said on Wednesday that he expects “things will be sorted in the next few days” but the reported £30million deal still has to get over the line with Swansea sticking firm on their valuation of the 26-year-old Ivory Coast striker. “There are talks between the two clubs and at this moment in time it’s ongoing,” Swansea manager Monk said. “It is what it is right now and it’s out there for everyone to see, but unless an agreement is made and the club are happy with everything I guess it will remain ongoing. “I don’t know the actual inner details, that’s what you leave to the club and the chairman himself. “They have talked about fees but whether they are close or far apart is unclear at the moment – whether they’ve got to the valuation that Swansea want. “And that is the most important bit on any player we sell, whether it reaches the valuation that Swansea hold.” Bony made a club record £12m switch to Swansea from Dutch club Vitesse Arnhem in the summer of 2013 and has since scored 34 goals in 70 appearances for the Welsh club. The Ivorian finished the calendar year of 2014 as the top scorer in the Barclays Premier League with 20 goals and only seven weeks ago extended his contract at the Liberty Stadium until 2018, with Swansea removing a £19m buy-out clause in his original deal while improving his financial terms. “Buy-out clauses don’t mean anything to be honest,” Monk said. “Clubs will have to meet a valuation, not just for Bony but for any player. “It happens all across the world for any player and unless the valuation is met then no business can be done. last_img read more

Arsene Wenger anger at Diego Costa’s ‘unacceptable behaviour’

first_img The Gunners saw centre-half Gabriel sent off just before half-time following a series of altercations with Costa after he had man-handled Laurent Koscielny. Chelsea went on to win at home for the first time in the Barclays Premier League this season as Kurt Zouma headed in a free-kick from one-time Arsenal skipper Cesc Fabregas. Arsenal manager Arsene Wenger launched a scathing attack on the dirty tactics of Chelsea striker Diego Costa and labelled referee Mike Dean naive after losing 2-0 at Chelsea, where his side finished with only nine men. Press Association Asked if he felt retrospective action from the Football Association was called for, Wenger replied: “That is the least they could do, but he will do the same again next week and the week after and he always gets away with it. “For me, it is always in provocation and he uses well the naivety of Mike Dean today. “Look at the pictures, it tells you a lot on slow motion. Before the cross comes in he hits him. “The fact is surprising that Diego Costa got away with what he did, that we go into half-time with a red card and he stays on the pitch. “They (referees) are professional people, and they have to make the right decision.” Unsurprisingly, Mourinho backed Costa, declaring his striker was “man of the match”. The Portuguese coach said: “Of course not (a red card). The referee was there, it was the same referee that made every decision of the game, was the same referee that didn’t give two penalties, clear, for us. It’s also the rules of the game. “What Gabriel Paulista did to Eden Hazard is something that is allowed in rugby and not in football, and in the box it’s a penalty. “And in the second half, I don’t know which player it was (Bellerin) but he did the same on Diego Costa. In rugby it’s fantastic, in football it’s a penalty.” Mourinho continued: “If you want to speak about Diego Costa with me, it’s just to say he played like he has to play. “That is why you have full stadiums, you sell to televisions around the world for millions and millions because the game has to be played like that. Okay? “And that’s why tomorrow for what I consider comparable in terms of dedication and passion, I go to New Zealand against Argentina (in the Rugby World Cup). I go tomorrow because I love it. Fantastic, Diego.” Asked if he was concerned over potential retrospective action, Mourinho said: “Look, I think he said before the game that I have to cope with my defeats. Tonight he has to cope with his defeat.” Chelsea started with captain John Terry on the bench but Mourinho again played down any rift. He said: “John Terry doesn’t need me to speak with him because he knows what I feel, what I think. “He knows that if I have to choose one out of 25 to be my man he is the first. He knows that I care about him, as a person, as a player. He knows that nothing is at risk. “If you want to paint a dark picture, I ask you please don’t do it because it’s not the reality. He’s in great condition and in a great situation with the manager and with the club.” The Football Association is likely to await Dean’s match report before deciding whether or not Costa has a case to answer. The fact he was booked in the original incident could indicate the referee saw it, but whether he saw it in its entirety could be key. Dean’s report is likely to be submitted on Monday. Any hopes of an Arsenal comeback had ended when Santi Cazorla collected a second yellow card with 11 minutes left before Eden Hazard’s late shot ricocheted off Calum Chambers past Petr Cech, returning to face his old club. While Wenger accepted Gabriel had been guilty for not controlling himself, flicking out a backheel at Chelsea forward Costa as they returned to the halfway line having both been cautioned, there was no doubt of the main culprit. “He can do what he wants, he stays on and everybody else who responds to him has to be sent off. I think it is unacceptable his behaviour,” said Wenger, who had earlier shaken hands with bitter rival Mourinho ahead of kick-off. “If you look well at the pictures what he does to Koscielny before he pushes him down he hits him in the face and the throat, he always gets away with it. “It is surprising and I don’t understand Mike Dean’s decision at all, not on the sending-off – why does Diego Costa stay on the pitch and Gabriel sent off? ” Okay I accept he has not to react at all. Gabriel is guilty for getting involved of course, he should not have responded at all, but Koscielny had no choice. Wenger added: “We expect that kind of game and were not surprised, but you expect the referee to make the right decision. “I don’t deny Gabriel is sent off, he deserves it, but he (Costa) goes down well.” last_img read more

Russell could face extended ban

first_imgKINGSTON, Jamaica (Reuters) – West Indies all-rounder Andre Russell is facing the prospect of an extension to his one-year ban for a doping whereabouts rule violation.Jamaica’s anti-doping commission (JADCO) is pushing for the maximum two-year suspension to be imposed on the 28-year-old Russell, who was banned in January for one year.JADCO chief executive Carey Brown told Reuters yesterday that his organisation had filed an appeal with Jamaica’s five-member anti-doping Appeals Tribunal.“(JADCO) has appealed,” Brown said.Russell, a two-time Twenty20 World Cup winner, was revealed to have committed the violation a year ago after registering three filing failures in 2015. That constituted a failed drugs test under World Anti-Doping Agency (WADA) rules.last_img read more

Fit-again Bayern’s Pavard Ready for Lyon Today

first_imgCHAMPIONS LEAGUE S’FINALBayern Munich defender Benjamin Pavard has fully recovered from an ankle injury and could be part of the squad that will face Olympique Lyonnais today in the UEFA Champions League semifinals, Bayern Coach, Hansi Flick, announced on Tuesday.Pavard, who had an outstanding season as Bayern won the domestic league and Cup double, injured ligaments in his ankle late last month but returned to fitness quicker than expected. He missed their sensational 8-2 demolition of Barcelona in the quarterfinals last week but has joined the team in Lisbon.“Benjamin has worked hard in the past days and we are all happy that he is here,” Flick told a news conference.“He is not an option to start but an option to be in the squad,” Flick stressed.The Bavarians are the odds-on favourites for the title that would emulate their 2013 treble-winning season.“We have analysed Lyon and we know their qualities,” Flick said. “They have a very good defence, with a lot of players behind the ball, strong runners but also with a lot of quality in attack.“We want to reach the final and we have to beat Lyon. It will not be easy. With Juventus and Manchester City they have taken out two co-favourites.”Lyon first eliminated Italian champions Juventus in the last 16 before a shock 3-1 victory over City last week in the quarterfinals held in Lisbon.“My team is focused. We have set big goals. But it is a game starting at 0-0 and we have to play with the same intensity as against Barca because anything less than 100 percent will just not be enough,” Flick concluded.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more