Tag Archives: managers

Gareth Southgate home: England manager’s £3.75m mansion in North Yorkshire is stunning

England boss Gareth Southgate will be standing nervously on the sidelines while England takes on Italy in the Euro 2020 Final this evening at 8pm BST. But when he’s not leading the England team to victory, Gareth can be seen entering and exiting his huge mansion located in North Yorkshire. The former Middlesbrough FC player, 50, lives in a beautiful Grade-I listed property known as Swinsty Hall.

The 16th-century building includes what appears to be original brickwork and sprawling grounds.

The England manager’s home is also located next to Swinsty Reservoir, near Harrogate, where he is regularly seen walking his dogs and running, according to the BBC.

Gareth shares his home with his wife Alison and their two children.

The home reportedly features six bedrooms, four bathrooms, a private cinema and a wine cellar.

READ MORE: It IS coming home! The Universe “wants England to win” the Euros,

Back in 2019, Gareth said he loved people’s attitude in Yorkshire and loves returning home after matches to “clear my head”.

In an interview with Welcome to Yorkshire, Gareth was asked what he loved about the county.

He said: “The people and their hardworking, no nonsense attitude, good values, honesty and humility that really shines through.

“All things I associate with. I also love to come away from matches, to the calm of living in the countryside and being able to clear my head.”

“He seems very committed to everything he does and is a good part of the local community.

“He’s just like a regular guy in the neighbourhood who you’d love to have a chat with.”

Gareth grew up in Crawley, West Sussex and attended Hazelwick School.

He married his wife Alison in July 1997 in a small village in West Sussex called Worth.

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China fund managers embrace robots as competition intensifies

China fund managers embrace robots as competition intensifies© Reuters. FILE PHOTO: Investors check share prices at a brokerage office in Beijing, China January 2, 2020. REUTERS/Jason Lee

By Samuel Shen and Andrew Galbraith

SHANGHAI (Reuters) – Chinese fund managers, grappling with a rapidly-growing list of publicly-traded securities and mountains of data, are rapidly embracing machine learning and other types of artificial intelligence (AI) to boost efficiency and bolster returns.

From using computers for analyzing news and research reports and crunching numbers to getting robots to pick stocks, the move comes as foreign players are expanding their footprint in China’s $ 3.4-trillion mutual fund industry.

While AI has already been widely used in China’s mammoth e-commerce and manufacturing sectors, it is now being adopted by asset managers as Beijing aims to digitize the economy further and close the technology gap with the western world.

Last week, Zheshang Fund Management Co launched a fund that uses robots to predict the market outlook and select stocks. It came after China Asset Management Co (ChinaAMC) announced its partnership with Toronto-based AI company Boosted.ai.

“I think it’s a must. Every major player is actively looking for AI solutions. The competition is really tough,” said Bill Chen, chief data officer of ChinaAMC, which managed $ 246 billion worth of assets at the end of last year.

Global fund managers such as BlackRock Inc (NYSE:) have been using computer artificial intelligence (AI) to analyze fundamentals, market sentiment and macroeconomic policies in the last couple of years to get an investment edge.

“Companies like BlackRock have very powerful, advanced technology. They are leading us in AI for sure, by at least several years,” said Chen. “But I think we understand the Chinese market better.”

Fund managers’ increased usage of AI in the world’s second-largest economy comes as Beijing is stepping up digitalization drive, a trend accelerated by the COVID-19 pandemic and as it increasingly clashes with the West over technology policy.

China’s stock market listing reforms have boosted the number of public companies, leading to a data explosion that also fuels demand for AI, said Zhou Yu, chief product officer of ABC Fintech, a Beijing-based AI company.

ABC Fintech counts asset managers such as China Universal Asset Management and Hwabao WP Fund Management Co as clients, and serves as their data factory, Yu said.

REGULATORY CHALLENGES

Growing investments into AI are also being fueled by early signs of success.

Zheshang Fund’s first AI-powered fund, Zheshang Intelligent Industry Preferred Hybrid Fund has gained 68.34% since its launch in Sept 2019, according to its Q1 report, compared with a 21.64% gain in its benchmark, which is a combination of stock and bond indexes.

The fund has built an “AI Beehive strategy model” in which robots team up like humans to buy stocks. More than 400 robots compete for the right to make decisions as their models constantly evolve through trial and error.

Peter Shepard, managing director at MSCI Research, said that instead of providing super-human intelligence, AI provides super-human scale that will open up fresh sources of information that drive new levels of insight and efficiency.

“These new tools on their own can’t predict the future any better than people can, but they are key to unlocking new, alternative and unstructured data sets that will continue to transform the investment process.”

“AI will be an important edge,” said Larry Cao, senior director at CFA Institute, who authored several reports on AI-powered investing. “The hard truth with AI is that the bigger firms can invest a lot more resources.”

Some Chinese industry officials, however, expressed concerns that the use of machine learning algorithms to pick stocks and better returns could run into regulatory challenges.

“From a regulatory perspective, you need to go through a lot of compliance procedures. You need to write reports on your decision making. Some AI-powered models are like black boxes, and unexplainable,” said Yu of ABC Fintech.

“That’s hardly acceptable to regulators.”

As learning algorithms are increasingly used in trading rooms, local fund managers are working with regulators to try to design new standards for the industry.

“One of the main barriers we face … is that we are so highly regulated,” ChinaAMC’s Chen said. “Every decision you make, you have to be responsible for that decision, and you should be able to explain a decision when you lose money.”

Author: Reuters
This post originally appeared on Stock Market News

Cyclical stocks running further despite slow U.S. jobs recovery

Cyclical stocks running further despite slow U.S. jobs recovery
© Reuters. FILE PHOTO: A man walks past the New York Stock Exchange on the corner of Wall and Broad streets in New York City, New York, U.S., March 13, 2020. REUTERS/Lucas Jackson

NEW YORK (Reuters) – While some technology stocks got a boost Friday after a disappointing U.S. jobs report, some portfolio managers say that blow-out earnings from several large technology companies over the last few weeks are not enough to keep making outsized bets on the sector.

Instead, those fund managers say that they are continuing to rotate into value and cyclical stocks – whose fortunes are closely tied to economic conditions – in anticipation that the economic recovery will be longer and more gradual than originally anticipated.

The notion that the U.S. jobs recovery has not yet peaked was reinforced by data from the Labor Department on Friday that showed U.S. employers hired far fewer workers than anticipated. The lower-than-expected job gains are likely to keep the Federal Reserve’s accommodative measures in place for an extended period, economists said.

The transition between the stay-at-home economy and a full reopening will likely take at least a year, leaving value stocks more attractive than technology shares over that time, said Barry James, a portfolio manager at James Investment Research, who remains underweight in technology.

“In the short run, it may bounce back and forth but we think we are in for at least another year or more of this transition,” he said.

Large technology stocks rallied Friday after the jobs report tampered concerns about inflation and pushed the yield of the 10-year Treasury near a 2-month low, but the direction of the economy regains intact and should continue to favor cyclical stocks over defensive stocks, said Sameer Samana, senior global market strategist at Wells Fargo (NYSE:) Investment Institute.

“We would not read too much into any one jobs report, and continue to think the labor market remains on track and will be more than enough to underpin consumer confidence and consumption,” he said.

Despite Friday’s gains, large-cap technology companies continue to lag the broad market. Apple Inc (NASDAQ:) is down nearly 2% for the year-to-date, Amazon.com Inc (NASDAQ:) is up less than 2%, and Netflix Inc (NASDAQ:) is down 6.5%. Overall, the technology sector is up 6.8% for the year-to-date, about half of the 12.6% gain in the broad .

Instead, value companies in such cyclical areas such as financials, energy, and consumer discretionary are surging. The Russell 1000 Value index is up 18% for the year to date, including a 0.7% gain Friday, while the Russell 1000 Growth index is up 6.3%, and gained 0.6% Friday.

“You had some people saying, that is as good as it gets across the board. Peak momentum, peak growth, peak earnings, but the market is misperceiving the backdrop here. You are going to end up with robust levels of growth for the remainder of this year,” said Jack Janasiewicz, portfolio strategist and portfolio manager at Natixis Advisors.

Funds that have remained heavy in growth stocks jumped Friday, with the ARK Innovation ETF adding 1.4% by mid-afternoon. Yet the fund remains down more than 10% for the year.

At the same time, the stretched valuation of large technology companies makes them less attractive than cyclical stocks that will most likely see the greatest economic boost over the next year, said George Young, a portfolio manager at Villere & Co.

The S&P 500 technology sector, for example, trades at 33.8 times trailing earnings, more than double that of the S&P 500 financial sector, which trades at 16.2 times trailing earnings.

Young has been adding to his position in cyclical companies like casino company Caesars (NASDAQ:) Entertainment Inc, a position he called “the opposite of the stay-at-home trade.”

“People are turning the corner and saying ‘We can see the light at the end of the tunnel and we don’t have to say at home anymore,’ so investors are looking for what’s the next thing,” he said.

By David Randall

Author: Reuters
This post originally appeared on Stock Market News

Four managers who have snubbed Tottenham and six candidates to replace Mourinho

Another day, another candidate out of the running. For Tottenham chief Daniel Levy, the search for a successor to Jose Mourinho is proving difficult to conclude.

The Portuguese was brutally axed on April 19, just six days before he was due to take charge of his side for the Carabao Cup final against Manchester City.

Ryan Mason was drafted in as interim head coach until the end of the season and took his place in the dugout at Wembley. But their 13-year wait for a trophy goes on after their 1-0 defeat to Pep Guardiola’s side.

Levy is believed to be targeting an attack-minded manager to replace Mourinho, whose defensive style of play and critical man-management style proved unpopular during his 18-month reign at the Tottenham Hotspur Stadium.

But the list of candidates is dwindling as other European clubs prepare to make changes of their own this summer, although Levy is refusing to rush into a decision over his next appointment.

So, who remains on the list of candidates to take the hotseat?

Managers who have snubbed Spurs

Julian Nagelsmann

The German emerged as an exciting candidate for Spurs as it was reported he was keen on a move to the Premier League.

However, it quickly transpired that once Hansi Flick confirmed his exit from Bayern Munich, the RB Leizpig coach would be their first choice to take the reins at the Allianz Arena.

Brendan Rodgers

Rodgers has publicly committed his future to Leicester and that is perfectly understandable given the comfort the Northern Irishman has in the dugout at the King Power.

He remains the bookmakers’ favourite for the vacant post, but if he guides the Foxes to Champions League football next season, it would be a shock to see him leave them behind.

Erik Ten Hag

The Dutchman appeared to be the leading man for the job after Tottenham made contact with the Ajax boss over replacing Mourinho.

Ten Hag was the man at the helm of the Dutch side when they reached the Champions League semi-finals, before Lucas Moura’s hat-trick completed a famous comeback in Amsterdam.

He is a promising coach who Levy was keen on snapping up. But on Friday, the former Bayern Munich assistant spurned their interest to sign a one-year extension to his deal with the Eredivisie giants.

Nuno Espirito Santo

Super agent Jorge Mendes has been doing his utmost to put his client in the frame for the job after a disappointing season with Wolves.

In addition to this, Nuno said to be keen on managing a club competing for European football after taking the West Midlands outfit to the Europa League last season.

Despite this, the 47-year-old reaffirmed his commitment to the club only last week, suggesting he may be off-limits for now.

Potential candidates for the job

Maurizio Sarri

At this stage, the Italian seems the most likely choice.

Sarri has pedigree coaching at the highest level with Napoli, Chelsea and Juventus with a patient, possession-based game the sole pillar of his management.

He is also a free agent, although Roma are reportedly interested too. Notably, he won the Serie A with the Bianconeri and the Europa League with Chelsea and just might be the man to finally end Tottenham’s trophy hoodoo.

Massimiliano Allegri

A manager with a proven track record of winning is precisely what every Tottenham fan wants. The only question is: does Allegri fancy risking it all for a spell at Spurs?

What’s more, his tendency to favour results over performance is far removed from an attacking philosophy.

And according to reports in Italy, the five-time Serie A winner is in the running to return to Juventus, with Andrea Pirlo is facing the sack.

Rafa Benitez

Having managed three other Premier League clubs in Liverpool, Chelsea and Newcastle, there are few foreign coaches who know the English game better.

The Spaniard is a tactical mastermind and has enjoyed success almost everywhere he has been, although questions remain over whether his ideals match Levy’s demands for attacking football.

Scott Parker

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A previous Spurs captain who understands the club from top to bottom, Parker would resemble a sensible choice after building a promising project at Fulham — and there is no doubt he would jump at the chance to lead his former club.

But the absence on his CV of coaching a side in Europe could prevent him getting the job.

Ryan Mason

The interim manager turning permanent manager? We have seen this one before. It really depends on how he copes with the pressure.

So far, he has said all the right things, but he is still raw as a coach, and getting the best out of Harry Kane and Heung-min Son may prove a difficult challenge.

At 29, it feels like this role may be out of Mason’s reach, barring a magnificent finish to the season.

Eddie Howe

Fits the brand of football required by Levy but doubts remain over whether he can he handle a big-time job.

Even when guiding Bournemouth to an impressive 9th in 2016-17, none of the top clubs were prepared to take a punt on the 43-year-old.

Now his stock has fallen, Howe may be viewed as a gamble — something Levy can ill afford.

You can still get all the latest news by visiting Mirror.co.uk/sport or get email updates on the day’s biggest stories by signing up for our newsletters.

Author: [email protected] (Joe Krishnan)
This post originally appeared on Mirror – Football

5 managers Daniel Levy could appoint as Spurs suffer Julian Nagelsmann blow

Author: [email protected] (Matthew Cooper)
This post originally appeared on Mirror – Football

Tottenham Hotspur are looking for a new manager, having parted ways with Jose Mourinho on Monday after 17 months in charge.

Former midfielder Ryan Mason has been appointed interim head coach for the remainder of the season, as Spurs chief Daniel Levy considers who to bring in as Mourinho’s replacement.

RB Leipzig boss Julian Nagelsmann was among the early favourites for the job, but reports from Germany claim he is set to take over from Hansi Flick at Bayern Munich.

Flick confirmed earlier this month that he had asked Bayern to terminate his contract, after a falling out with the club’s sporting director Hasan Salihamidzic.

With Spurs set to miss out on Nagelsmann, Mirror Football takes a look at five other contenders for the job.

Former Chelsea and Juventus coach Maurizio Sarri has been linked with the Spurs job
Former Chelsea and Juventus coach Maurizio Sarri has been linked with the Spurs job

Maurizio Sarri

The former Chelsea boss is currently out of work, having been sacked by Juventus last August, and it has been rumoured that Spurs are interested in appointing Sarri as their next manager.

Reports have claimed that the club has made contact with his agent Fali Ramadani, but football.london state that there is no truth in the rumours.

Ralf Rangnick

Former Red Bull chief Rangnick was previously considered for the role in 2012, following Harry Redknapp’s departure.

Although he missed out to Andre Villas-Boas that time around, the Telegraph that he is once again on the list of targets that Tottenham are considering.

Erik Ten Hag worked with Guardiola at Bayern Munich before taking the top job at Ajax
Erik ten Hag has impressed at Ajax and he is said to be on Spurs’ radar

Erik ten Hag

The same report also names Ajax boss Erik ten Hag as one of the names Spurs are looking at, claiming their interest is set to intensify now that Nagelsmann is set to take over at Bayern.

Ten Hag has one year left on his deal with the Dutch club, meaning he would be available for minimal compensation.

Massimiliano Allegri

Allegri has been out of work since leaving Juventus in 2019 and, having won five Serie A titles and reached two Champions League finals, the Italian boasts an impressive CV.

According to football.london, Allegri is highly thought of at Spurs but his lack of English is said to be a concern.

Massimiliano Allegri has been out of management since 2019, when he left Juventus
Massimiliano Allegri has been out of management since 2019, when he left Juventus

Brendan Rodgers

The Leicester boss has done an excellent job at the King Power Stadium, with the Foxes regularly competing for a top four spot.

He has also been linked with the Spurs job but it seems unlikely he would leave Leicester, especially if they secure Champions League football next season.

Crystal Palace boss Roy Hodgson recently said of the rumours: “I think, if other clubs want to tempt him away, it will not be easy and as simple as suggesting that historically we happen to be a bit of a bigger club than the one you are at.

“They [Spurs] would have to persuade him that his future will be much better if he moves. But that will not necessarily be an easy thing to do.”

German prosecutors charge more VW managers in emissions scandal

Author: Reuters
This post originally appeared on Stock Market News

2/2 German prosecutors charge more VW managers in emissions scandal© Reuters. FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris 2/2

BERLIN (Reuters) -German prosecutors have charged 15 executives from Volkswagen AG (OTC:) and a car supplier in connection with the diesel emissions scandal that emerged in 2015, a spokesman for the prosecutor’s office said on Saturday.

The suspects are accused of aiding and abetting fraud in combination with tax evasion, indirect false certification and criminal advertising, said Klaus Ziehe from the prosecutor’s office in the northern city of Braunschweig.

The scandal saw more than nine million vehicles of the VW, Audi, Seat and Skoda brands sold to consumers with a so-called defeat device which helped to circumvent environmental tests of diesel engines.

The prosecutor’s office did not name any of the charged executives, who are accused of bringing cars onto the market in a condition that was not officially approved, meaning they were illegal and advertised misleadingly, Ziehe said.

He added the indictment had now reached 1554 pages.

The prosecutions were earlier reported by news agency Deutsche Presse-Agentur (dpa).

A Volkswagen (DE:) spokesman said a criminal investigation against the company was dropped in 2018 after it paid a fine, adding that the company was not involved in the upcoming trail against individual suspects.

“Against this background, we do not comment on the other charges that have come to light…,” the spokesman added.

Volkswagen said last month that it would claim damages from its former CEO Martin Winterkorn and former Audi boss Rupert Stadler over the diesel emissions scandal, which was discovered in 2015, as it looks to draw a line under its biggest-ever crisis.

The trial of Winterkorn and the other managers has been postponed until September due to the pandemic.

X: Therefore doesn`t .

Ince names two surprising managers he thinks deserved Man Utd job over Solskjaer

Author: [email protected] (Alex Milne)
This post originally appeared on Mirror – Football

Paul Ince has controversially claimed that Steve Bruce and Mark Hughes were more worthy contenders for the Manchester United manager’s job than Ole Gunnar Solskjaer.

The Norwegian first took charge at Old Trafford in December 2018 after Jose Mourinho was sacked despite having limited coaching experience.

And despite some initial criticism there have been signs of improvement from United under him recently, and they have a big chance of winning their first trophy with Solskjaer in the Europa League.

But speaking on Sky Sports ahead of United’s game against Leeds, Ince stated his belief that both Bruce and Hughes would have been a more suitable choice than Solskjaer at the time.

Ole Gunnar Solskjaer has been in charge at Manchester United since December 2018
Ole Gunnar Solskjaer has been in charge at Manchester United since December 2018

“At the time, when they gave Ole the job, I thought he was really inexperienced for one of the biggest clubs in the world,” Ince said.

“I thought there were better managers out there with more experience, like Steve Bruce or Mark Hughes, who could have come in and done a better job.

“But saying that, he’s obviously changed the mindset of the players after Mourinho and the results have been very, very good.

“But the performances have still been really inconsistent, even last week against Burnley, it wasn’t a great performance. We look at their away record, they keep going behind and then coming back. They’ve got great character and mental toughness to come back.”

Paul Ince wasn't convinced by Solskjaer initially
Paul Ince wasn’t convinced by Solskjaer initially

Ince thinks the progression United have shown recently is promising, but still believes they are a way off the quality of some of their rivals.

“I think Ole has had progress in the last year,” he added. “I still don’t think they’re where City are, or Liverpool once they get their main players back, but I think if they win the Europa League, they’re in the Champions League next year – it’s progression.

“Hopefully they can bring some new players in for next season, so yeah, I think he’s done a good job.”