Don’t miss out on the latest news and information. UP NEXTClippers: Host Toronto on Tuesday night, their fifth back-to-back set of games this season.Suns: At San Antonio on Tuesday night, their fourth back-to-back set of games this season.Sports Related Videospowered by AdSparcRead Next Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew View comments Will you be the first P16 Billion Powerball jackpot winner from the Philippines? Injury-hit Nuggets sign Nick Young, waive Brandon Goodwin Los Angeles went ahead by as many as nine points, 56-47, after Warren’s ejection. But the Suns finished the half on a 9-2 run, capped off by Ayton rattling in a 20-footer at the buzzer, and trailed 58-56.The Clippers made 15 of 23 shots in the second quarter.Phoenix took a brief one-point lead, 84-83, late in the third quarter, but the Clippers went into the fourth quarter ahead 88-86.TIP-INSClippers: G Milos Teodosic saw action for the first time in four games, having missed the previous three due to a coaching decision. … The Clippers have won 10 straight over the Suns, with their last loss coming April 13, 2016.Suns: Phoenix announced the signing of post player Eric Moreland right after tipoff. The 6-foot-10 Moreland, 26, has played for Sacramento and Detroit. … For the fourth time this season, the Suns started three rookies — Melton, Ayton and Bridges. … The Suns were without guard Devin Booker, inactive for the fourth straight game with a hamstring strain, and guard Jamal Crawford, who was out with a sore left knee.DANIELS LEAVES, RETURNSDaniels crumpled to the floor with less than a minute to play trying to defend in the key, and had to be helped to the locker room. He returned for overtime.BLOCKED AND BLOCKAyton tried to go up strong with the ball in the paint midway through the first quarter, only to have his shot blocked by Boban Marjanovic. But Ayton got back on defense to swat away Shai Gilgeous-Alexander’s layup attempt at the other end. Danilo Gallinari scored 16 of his 25 points in the second half and Harris added eight rebounds.Deandre Ayton led the Suns with 20 points and 12 rebounds, the rookie’s 15th double-double of the season. Fellow rookie Mikal Bridges added a career high 19 points, and backup center Richaun Holmes chipped in a season-high 19 points as the Suns lost their ninth straight.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissThe Clippers twice led by four in overtime, but the Suns tied it at 119 on Troy Daniels’ reverse layup with 51.3 seconds to play. But those were the last points scored by the Suns.The Suns’ De’Anthony Melton hit a short baseline fadeaway to tie the score at 111 with 5.5 seconds left in regulation. The Clippers had the final possession of regulation, but Gallinari missed a step-back 3-point attempt at the buzzer with two defenders in his face. LATEST STORIES Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award After winning title, time for LA Tenorio to give back to Batangas folk No.13 lucky for Orlando Bloom Holmes dunked with 7:09 to play to give the Suns a 104-95 lead. But the Clippers rallied, surging ahead by four, 109-105. Then Bridges hit a 3-pointer for the Suns with 1:16 left, and added a technical foul free throw 18 seconds later to tie it at 109.Both teams were without top scorers for the second half.Clippers guard Lou Williams left the court in the second quarter with what was described as a sore left hamstring, and didn’t return. Williams, who was averaging 17.6 points per game going into Monday, had seven points and four rebounds in 12 minutes.The Suns got forward T.J. Warren back from a right ankle injury after he missed the past five games. Warren, however, was ejected for drawing back-to-back technical fouls near the end of the second quarter. He had six points in 12 minutes.The Clippers’ Montrezl Harrell scored seven points in less than a minute in the second quarter as Los Angeles came back from a 10-point deficit.ADVERTISEMENT Japeth Aguilar embraces role, gets rewarded with Finals MVP plum Nadine Lustre’s phone stolen in Brazil Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew MOST READ Los Angeles Clippers forward Tobias Harris, left, looks to pass as Phoenix Suns forward Josh Jackson (20) defends during the first half of an NBA basketball game, Monday, Dec. 10, 2018, in Phoenix. (AP Photo/Matt York)PHOENIX — Tobias Harris scored 33 points and Patrick Beverley made two free throws with 33.3 seconds left in overtime to lead the Los Angeles Clippers to a 123-119 victory over the Phoenix Suns on Monday night.Avery Bradley sealed the Clippers’ 17th victory of the season with a pair of free throws with 1.6 seconds left, after he hustled to control a loose ball off jump ball and was fouled.ADVERTISEMENT ‘Mia’: Rom-com with a cause a career-boosting showcase for Coleen Garcia
Foreign investments by pension funds protect Canada’s triple-A credit rating Since 2011, the value of Canada’s overseas assets has more than doubled, says the global credit rating agency Fitch Canadian corporations have ramped up their spending abroad as Canada deals with significant levels of debt.Darryl Dyck/Bloomberg Esteban Duarte Sponsored By: Email Comment Facebook Bloomberg News Join the conversation → Featured Stories 0 Comments ← Previous Next → Recommended For YouChina’s commodity demand holds up, with copper the exception: RussellCorn jumps 1% to hit 5-year high as forecast stokes supply woesChina Q2 GDP growth slows to 6.2% y/y, 27-year lowChina’s June crude oil throughput up 7.7% on year to 53.7 mln tonnes – stats bureauChina Q2 GDP rises 6.2% y/y, slowest in at least 27 years What you need to know about passing the family cottage to the next generation April 23, 201912:21 PM EDT Filed under News FP Street More advertisement Reddit Twitter Share this storyForeign investments by pension funds protect Canada’s triple-A credit rating Tumblr Pinterest Google+ LinkedIn Canada’s trove of overseas assets, including airports and roads owned by pension funds, is helping to protect the country’s top credit rating, according to Fitch Ratings.Foreign assets held by Canadians reached $3.71 trillion US at the end of 2018, exceeding foreign liabilities by $528.6 billion US$ and making the country a net creditor to the rest of the world.That’s helping to support the credit rating, despite a mountain of public-sector debt and persistent current account deficits that would typically undermine a nation’s creditworthiness, Fitch said. The current account includes trade in goods and services, as well as net earnings on cross-border investments and transfer payments. Stephen Poloz’s dashboard: The latest charts that matter most to the Bank of Canada CPPIB and Ontario Teachers’ on team buying British satellite operator Inmarsat for $3.4 billion Brookfield buys most of Oaktree in $4.8 billion deal to build juggernaut to rival Blackstone “Countries that run current account deficits are countries that tend to pull the rating down,” said James McCormack, Fitch’s global head of sovereign & supranational group. Nonetheless, “Canada is building more external assets than external liabilities.”Canada historically had been a debtor nation, with net liabilities peaking at $333 billion US in 2011, according to Statistics Canada. But since then, the country has seen the value of its foreign assets more than double, helped in part by a weaker Canadian dollar. That outpaced a 72 per cent increase in liabilities. The nation turned from debtor to creditor in 2014.The $2.2 trillion US economy is supporting public sector debt — provincial and federal — equivalent to almost 90 per cent of its output, compared with an average of about 40 per cent for the 11 countries rated AAA by Fitch. Top-rated countries have on average been reporting current account surpluses while Canada has posted deficits of about two percentage points to almost four percentage points of gross domestic product in the last decade.Pension FundsThose weaknesses would put the country’s rating in the AA-range, were it not for a two-level uplift that Fitch applies to take into account issues including the net international investment position and unfunded pension commitments that are lower than its peers, wrote McCormack, who previously was a Bank of Canada official as well as a Goldman Sachs Group Inc. alumni.Only Canada and Denmark are given that adjustment, said McCormack.Pension funds such as the Canada Pension Plan Investment Board and the Caisse de dépôt et placement du Québec are playing a key role in bolstering Canada’s presence abroad. Pension fund assets rose 53 per cent to $1.92 trillion US at the end of 2018 from $1.25 trillion US in the second quarter of 2011, according to Statistics Canada.Clear LiabilitiesCPPIB, which manages the pension savings of all Canadians except those in Quebec, had $302.3 billion US of investments overseas in the fiscal year ended March 2018, or almost 85 per cent of its assets under management, according to its annual report. Last month, it committed about $900 million US in a joint bid for U.K. satellite company Inmarsat Plc.Almost two-thirds of the Caisse’s $309.5 billion US of assets at the end of last year were invested outside of Canada. On April 5, the Caisse announced a deal with with France’s Engie SA to buy 90 per cent of Petroleo Brasileiro SA’s pipeline unit TAG for $8.6 billion US.Other big overseas investors include Brookfield Asset Management Inc., which has about $350 billion US under management.“Despite heavily financing ourselves abroad, Canadians have not dug themselves into a foreign debt hole,” Avery Shenfeld, chief economist at Canadian Imperial Bank of Commerce, said Friday in a separate note. “If we sold everything we’ve added to our balance sheets in assets abroad, as a country, we could clear our liabilities.”To be sure, the country’s international net international investment position may be not enough to protect the country’s top rating should public debt ratios head upward and rise over 90 per cent of GDP, said McCormick.Also, the country’s net international investment position declined by $109.1 billion US in the last quarter after reaching record $637.7 billion US at the end September, according to government data.Shenfeld also cautions that in the next downturn the value of Canada’s overseas assets may slip while the country will still have to make interest payments on debt held abroad.