FacebookTwitterLinkedInEmailPrint分享Julie Silvederio for SNL:Fitch Ratings released Feb. 18 its bearish outlook of China’s coal sector, citing “losses and plunging profits” reported in 2015 by 28 of the country’s 33 listed coal companies and the unlikelihood of coal price recovery in 2016 amid a supply glut and weaker demand.Twenty eight of the 33 coal companies listed on China’s Shanghai and Shenzhen Stock Exchanges reported an aggregate net loss of over 4 billion Chinese yuan in 2015 against 37 billion Chinese yuan of net profit in 2014, according to the ratings agency’s special report. It said the 28 coal companies “represent the strongest subset among China’s more than 6,000 coal-mining companies,” and that the rest are in worse condition.“Twenty of the 28 companies reported a net loss in 2015, while the remaining eight saw their net income cut by between 57% and 93% from a year ago,” Fitch analysts wrote.Fitch also indicated that only China Shenhua Energy Co. Ltd., Yanzhou Coal Mining Co. Ltd. and Shanxi Lu’an Environmental Energy Co. Ltd booked net income of over 200 million Chinese yuan among the eight companies that reported profits in 2015.Citing oversupply of thermal coal as the major factor, Fitch forecast a difficult recovery for coal prices.Full article ($): Fitch sees dismal year for Chinese coal amid supply glut and decreased demand Citing Oversupply, Fitch Is Bearish on China Coal Sector
(Atlanta, GA) — A final tribute to the late Congressman and civil rights icon John Lewis will be held today.His funeral service will be held at Atlanta’s historic Ebenezer Baptist Church.Former President Barack Obama will deliver the eulogy for Lewis, who passed away earlier this month after battling cancer.Former Presidents Bill Clinton and George W. Bush are expected to attend the service.Today’s ceremony is the culmination of a week-long series of honors for Lewis.His casket laid in state at the U.S. Capitol and at the state capitols of Alabama and Georgia.Lewis represented Georgia in Congress for over three decades. He was also a leader of the Civil Rights movement in the 1960s.
As it is, local organizers reached a deal they say will generate hundreds of millions of dollars in savings and additional revenue.The IOC, among other concessions, has agreed contribute at least $1.8 billion to L.A. and advance $180 million immediately, the majority of which leaders assure will be invested in local youth sports.“This is a big win for Los Angeles,” said bid chairman Casey Wasserman, who added that his committee’s slogan of “Follow The Sun” is “not because of our weather but because of our belief that tomorrow will always be better than today.”“That’s called optimism,” he explained. “We believe … it is the perfect message for the Olympic movement going forward.”Well, this is one movement that could certainly use something optimistic, an IOC now being characterized as generous and agreeable, famous in the past only for its astounding greed.Don’t misunderstand me. I’ve been blessed with the opportunity to travel all over the globe to cover the Olympics, from Sydney to Torino to Beijing, where I still can’t believe the abundance of Kentucky Fried Chicken locations.I love the Games. The drama. The pageantry. The weird confluence of events that led to me encountering, early one morning along the edge of the Black Sea, Al Roker.I’ve seen just how important the Olympics can be, what a significant role this sports gathering can have in advancing the notion that we aren’t just one planet but also one world.Garcetti is right to claim victory, L.A. again rising to the top of the podium at a time when the United States in particular and the IOC in general were desperate for direction.Yet, let’s acknowledge that winning in this case was aided greatly by a lack of competition. Not medaling, you know, is impossible when only two participants actually leave the starting line.These Games might have belonged to Boston, until Boston spoke up and told everyone it wasn’t interested in risking the money of its taxpayers.Along the way, Budapest, Hamburg and Rome all decided against bidding for the Summer Olympics under similar mounting public pressure.All of this came within two years of six European and Asian cities backing out of bids for the 2022 Winter Games.In other words, the Olympic movement wasn’t moving anywhere but backward, the future of the Games jeopardized by corruption, doping and financial irresponsibility that trampled the line of being criminal.I’ve also seen just how damaging the Olympics can be, leaving behind the sad legacy of mountains of money wasted in Sochi and scores of citizens neglected in Rio de Janeiro.Both locations today are well suited to host another Games — the Ghost Games, complete with abandoned venues and haunting debt.Here, of course, we’re much better prepared to meet the burden of the world’s athletes descending as one.We have the facilities, the infrastructure and — thanks to this genuinely historic agreement — the apparent safeguards against living a fiscal nightmare.“This wasn’t a tough negotiation,” Garcetti said. “Sure we had to work out details. But they saw the vision of Los Angeles and wanted to be a part of it.”It’s worth noting that the 1984 Los Angeles Games are the only ones in modern history to run at a profit.It’s also worth remembering that 1984 was more than three decades ago and the cost of doing Olympic business has spiked astronomically in the time since.Now add in another 11 years of economic uncertainty until the cauldron here is lit and we’re left with a lot of time and space to ponder the possibilities, good and bad.Garcetti, naturally, touted only the positive, saying this agreement gives “both the world and the Olympic movement a model for being able to move forward in a responsible, low-risk way.”Here’s hoping that the Mayor is right and that the IOC really has reformed. Because if the latter is true, there aren’t enough gold medals to go around. The development is being hailed as a “win-win-win,” which, even for the Olympics, is a performance truly Olympian.Rarely do you see an event conclude with the awarding of three gold medals.Still, on the latest historic day en route to the Southland hosting the 2028 Summer Games, no one finished as distant as runner-up, even as L.A. willingly came in second for the 2024 Olympics to Paris.“This agreement,” Mayor Eric Garcetti said Monday in praising the victory, “…will allow us to seed a legacy of hope and opportunity that will lift up every community in Los Angeles.” Immediate and rampant optimism from organizers and politicians alike is as much a part of the Olympic movement as the flame itself, both shining brightly and neither capable of being doused.Still more than a decade removed from the opening ceremony at the Coliseum, however, the more important message today is the promise that the flame won’t come back to burn us all.“What we were able to negotiate,” Garcetti said, “this deal was too good to pass up.”Wait, these are the still Olympics, right? And this is still the International Olympic Committee, a group often hard to stomach and more frequently difficult to trust?Even with Agenda 2020, the reforms introduced by IOC president Thomas Bach to clean up the murky bidding process, this all sounds like some sort of crazy Olympic dream. Newsroom GuidelinesNews TipsContact UsReport an Error read more