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Alliance CEO Craft sees need for consolidation in U.S. coal industry

first_imgAlliance CEO Craft sees need for consolidation in U.S. coal industry FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):The U.S. coal industry “needs” to consolidate in the face of difficult market conditions and sinking coal demand because of the coronavirus pandemic, Alliance Resource Partners LP CEO Joe Craft said on a May 8 earnings call.“Consolidation is needed in the coal space, and we’re a consolidator,” Craft said, commenting on options available to the Oklahoma-based coal producer to survive the uncertainty in the U.S. economy and among fossil fuel industries in particular. “Nothing [is] currently being done but it needs to happen,” he said. “Whether it does or not, I can’t predict. But that needs to happen. And we are a willing participant in that.”Craft did not specify transactions that could occur in the future. In prepared remarks at the beginning of the call, he said the company believes 2020 “will provide a new foundation for future growth of our partnership” and that “we are committed to continuing this strategy.”The drop in electricity demand created by stay-at-home orders and other social distancing efforts in the U.S. appears set to accelerate the decline of the coal industry as energy markets fundamentally transform in the wake of the crisis. Though the pandemic has yet to push U.S.-based coal-fired power plants toward earlier retirements, a Trump administration official recently told virtual attendees of a fuel buyers conference the industry may perform worse than the U.S. government’s already-grim predictions and that coal plants may retire early.Sustainability-focused think tank Institute for Energy Economics and Financial Analysis concluded in a March report the U.S. coal sector would face pressure to consolidate, with the pandemic expected to exacerbate negative market conditions. Current coal production capacity in the U.S. is “unsustainable,” the think tank stated, and 2020 “will very likely see the beginning of a long-overdue rethinking of production capacity in the U.S.”For Alliance, the pandemic has meant withdrawing its full-year 2020 production guidance in late March and temporarily idling its coal mines in the Illinois Basin while reducing production at other mines. The company is now targeting coal sales and production for 2020 of approximately 28 million tonnes and 27 million tonnes, respectively, or 25%-30% lower than originally guided, with plans to draw down inventories in the second quarter and produce in the back half of the year to meet existing contractual obligations, Craft said. In line with losses expected for major coal producers, Alliance recorded a first-quarter attributable net loss of $144.8 million, falling year over year from a net income of $276.4 million.[Jacob Holzman]More: U.S. coal industry needs to consolidate in light of pandemic, Alliance CEO sayslast_img read more

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Dembele – The best is yet to come

first_imgMousa Dembele believes the best is yet to come at Tottenham, even suggesting they are capable of challenging for the title in the coming years. The halcyon days of Champions League football under Harry Redknapp have become an increasingly distant memory in recent years, with big-name arrivals unable to secure Spurs’ place back at the top table. Things are looking up once again at White Hart Lane, though, with a trip to Wembley for the Capital One Cup on the horizon, as well as a realistic chance of finishing in the top four. “Of course it is a big compliment and I think everybody in this team wants to be at the top of their game. “Me as well, but I am not thinking about other things. “Every day I focus on being as sharp as possible and with this manager as well, training is different than we’re used to. It’s much harder. “I think it is a good thing for us and I think it is easier to develop then to become a better player. “I know I can do better. I think we played well today but I think even the team can do better because we know we have a lot of talent, a lot of experience. We have everything here.” Dembele certainly appears to be enjoying himself at Spurs right now, impressing in the role of number 10 behind the “unbelievable” Kane. He praised head coach Mauricio Pochettino for bringing a “positive energy” to the camp, while saying the squad depth at his disposal keeps everyone on their toes. Dembele appears to now be embracing the challenge brought by the abundance of quality in the Spurs squad, having not so long ago suggested he was struggling to cope with his lack of game time. “It was not frustrating,” he said. “It is just never fun as everyone wants to play, but you can see the manager rotates a lot because we have a very good squad, a big squad. “At the moment, we are playing well as a team so I think it is something nice for everyone. “It is a different thing if you don’t play and you’re used to playing. “Now, I know how it is like this as well and the manager gave me a chance and I will do everything to continue like this. “It is easy as well with a team like this, playing incredibly well, but, yeah, I think everybody has to fight and everybody gets a chance in this team.” Key to that have been standout performances from the likes of Harry Kane, Christian Eriksen and Hugo Lloris, as well as the fact Spurs appear to finally have ridden themselves of their inability to compete against the Barclays Premier League’s best. Tuesday’s trip to Liverpool will be another test of that after a north London derby win Dembele described as the “total package” – a defeat of Arsenal, he suggests, is the tip of the iceberg. Asked if this Spurs team, should they be kept together, are capable of challenging for the title in the coming years, the Belgian said: “Yeah, you see as well how the club works now, the feeling that they want to keep a lot of players here. “They extended the contract as well, so it is a very positive thing because the players that you saw now that have extended their contract are very good players, young players as well, who in the future will make massive progression. “It is a very good thing for everyone. Everybody knows if the team is together for a long time, it gets easier and easier.” Things are certainly looking up for Spurs and, on a personal level, Dembele, who has recently shown flashes of his undoubted potential. His inability to produce that on a more regular basis frustrated former Spurs coach Les Ferdinand, who believes the Belgium midfielder could be good enough to follow Luka Modric and Gareth Bale to Real Madrid. “As a player, I don’t think about that,” Dembele said, when those comments were put to him. Press Associationlast_img read more

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Airbnb Bans “Party Houses” Following Fatal CA Halloween Shooting

first_imgFive people died in a Halloween night shooting at a four-bedroom home which had been rented on Airbnb by a woman who allegedly told the owner that her family members had asthma and needed to escape smoke from a nearby wildfire.The owner, who was suspicious of a one-night rental on Halloween, reminded the renter that no parties were allowed, according to a source.The owner, Michael Wang, says his wife reached out to the renter on Thursday night, when neighbors contacted them about the party.He adds, “We called the police. They were on the way to go there to stop them, but before we got there the neighbor already sent us a message saying there was a shooting.”No arrests have been made, and a motive for the attack is not yet known. However, authorities found two guns at the property.Three people from the Bay Area died at the scene, while a fourth died at the hospital.In addition, Airbnb has banned the renter from its platform, and the home has been removed from its listings. First, we are expanding manual screening of high-risk reservations flagged by our risk detection technology.— Brian Chesky (@bchesky) November 2, 2019 Airbnb’s CEO says the company is already taking actions against unauthorized parties, following a deadly shooting at a Halloween party that was held at a rental home in California.Brian Chesky tweeted Saturday that his staff is expanding manual screening of “high risk” reservations, and they will remove guests who fail to comply with policies banning parties at the company’s rental homes.He added that the company is forming a “rapid response team” to address complaints of unauthorized parties.We must do better, and we will. This is unacceptable.— Brian Chesky (@bchesky) November 2, 2019center_img Third, we are taking immediate action against users who violate these enhanced guest policies, including removal.— Brian Chesky (@bchesky) November 2, 2019last_img read more

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Kawhi Leonard, Clippers rally in fourth quarter to fend off Warriors

first_imgROCK. MY. SOUL.We SEE YOU @Jmyke1! 🔥 pic.twitter.com/Uij5KW0Afa— FOX Sports West (@FoxSportsWest) January 11, 2020 “That’s what we are… We’re a work in progress. We just got to keep getting better”Coach Doc Rivers comments on tonight’s victory over Golden State.#ClipperNation • @LAClippers pic.twitter.com/ciezccqpvg— FOX Sports West (@FoxSportsWest) January 11, 2020 “I feel better, I’m able to jump without it grabbing too much,” said Leonard, who shot 14 for 25 and added nine rebounds, five assists and three steals but committed five turnovers in Friday’s win.The Clippers again were without Paul George, who suffered a strained left hamstring during practice Wednesday and was sidelined for the second time in three games.L.A. also was playing for the first time since Sunday, enjoying a four-day break, “like a mini-All-Star break,” Clippers guard Rodney McGruder called it. But the Clippers looked like the layoff was a lot longer than that – or maybe not long enough.After allowing 272 points in a Staples Center split last weekend, the Clippers missed dunks, missed plenty of 3-point shots (28 of 39 tries were off-target), and committed lots of turnovers (19).“Tonight, what’s the date? January whatever? There is not a lot that we can do about it today,” Rivers said of his team’s miscues, with an eye on the future to which Kerr was referring. “If we play like that in May or April, that will hurt us.”Fortunately for the Clippers, they were facing a Warriors squad that was (without injured All-Star guards Steph Curry and Klay Thompson) inept enough from behind the arc, shooting 20.5 percent (8 for 39) from deep.Alec Burks did bury a big 3-pointer for the Warriors with 4:32 to play, drawing a foul on Landry Shamet (who had five for the game) before converting the four-point play to cut the Clippers’ lead to 97-95. Omari Spellman’s open 3-pointer cut the Clippers’ advantage to 101-98 with 3:35 left.Williams responded with a 3-pointer with the shot clock running out to give the Clippers a 103-98 lead with 2:22 to play.Draymond Green’s layup pulled Golden State back within four points, then Leonard threw down a resounding slam to increase the Clippers’ lead to 106-100.Finally, a 3-pointer by Patrick Beverley (12 points, 10 rebounds, nine assists and a career-high-tying three blocked shots) sealed it. Beverley fell one assist short of his first career triple-double.“Awww … I wish we’da knew that, collectively,” Williams said. “But that’s the makeup of this group, we really don’t chase individual stats, I don’t think anybody was even paying attention to that or knew that. We were just going with the flow of the game.“I wish he’d have got it, because that’s something special.”Said Beverley: “I just go out there and try to be Pat. Unfortunately, PG’s out, I know I’m gonna have the ball a little bit more, so I just try to, you know, go out there and make my teammates better and get Kawhi the ball when he needed it, and get Sham the ball when he needed it, and hopefully, it works out.”Williams finished with 21 points and Harrell had 11 points and 10 rebounds as the Clippers defeated the Warriors in consecutive games for the first time since 2011. Kawhi Leonard scored 10 of his game-high 36 points in the fourth period, when Lou Williams and Montrezl Harrell both contributed nine to help their squad recover in time to keep the Warriors (9-31) from winning on the road for just the fourth time this season.Among Leonard’s baskets were a trio of ferocious slams, including one he hammered down to make it 106-100.“He’s been doing it a lot lately,” Clippers coach Doc Rivers said of his slam-dunking superstar, who’s been limited to playing only half of every back-to-back set of games while he sticks to an injury management regimen to help an ongoing issues with the patella tendon in his left knee.“I think he is in a far better place now than he was in Game 1, let’s just put it like that. You can see it with him, you can see it in the practices, it’s just going up, you can feel it, you can see it, he has a better thrust now, and it’s good, it has been really good to see.”Leonard agreed with Rivers’ assessment. Kawhi Leonard pours in a game-high 36 PTS to spark the @LAClippers comeback victory! #ClipperNation pic.twitter.com/eEbzSHTKvK— NBA (@NBA) January 11, 2020 PreviousLos Angeles Clippers forward Kawhi Leonard, right, goes up for a dunk as Golden State Warriors forward Omari Spellman defends during the second half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. The Clippers won 109-100. (AP Photo/Mark J. Terrill)Clippers guard Patrick Beverley, right, grabs a rebound away from Warriors guard Alec Burks, left, and guard Ky Bowman during the second half of Friday’s game at Staples Center. Beverley (12 points, 10 rebounds, nine assists and a career-high-tying three blocked shots) fell one assist shy of his first career triple-double in the Clippers’ 109-100 win. (AP Photo/Mark J. Terrill)Golden State Warriors guard Jacob Evans, right, shoots as Los Angeles Clippers forward Montrezl Harrell defends during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill) SoundThe gallery will resume insecondsLos Angeles Clippers forward Kawhi Leonard, right, shoots as Golden State Warriors forward Eric Paschall defends during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Golden State Warriors forward Glenn Robinson III, left, shoots as Los Angeles Clippers guard Lou Williams defends during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Los Angeles Clippers center Ivica Zubac shoots as Golden State Warriors forward Omari Spellman defends during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Golden State Warriors forward Eric Paschall shoots as Los Angeles Clippers guard Rodney McGruder defends during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Los Angeles Clippers forward Kawhi Leonard, right, goes up for a dunk as Golden State Warriors forward Alen Smailagic defends during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Golden State Warriors center Willie Cauley-Stein, front, shoots as Los Angeles Clippers forward Montrezl Harrell watches during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Clippers forward Kawhi Leonard, left, passes the ball as Warriors guard Ky Bowman defends during the first half of Friday’s game at Staples Center. Leonard had 36 points as the Clippers rallied for a 109-100 win. (AP Photo/Mark J. Terrill)Golden State Warriors forward Omari Spellman, center, shoots as Los Angeles Clippers forward Maurice Harkless, left, and forward Kawhi Leonard defend during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Golden State Warriors forward Omari Spellman, right, goes up for a dunk as Los Angeles Clippers forward JaMychal Green, left, watches during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Golden State Warriors guard Jordan Poole, center, passes the ball as Los Angeles Clippers forward Montrezl Harrell, left, and forward Maurice Harkless defend during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Golden State Warriors forward Eric Paschall, left, shoots as Los Angeles Clippers guard Rodney McGruder defends during the first half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. (AP Photo/Mark J. Terrill)Los Angeles Clippers forward Kawhi Leonard, left, and Golden State Warriors guard Damion Lee reach for the ball during the second half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. The Clippers won 109-100. (AP Photo/Mark J. Terrill)Los Angeles Clippers forward Kawhi Leonard, left, shoots as Golden State Warriors forward Draymond Green, second from left, Glenn Robinson III and forward Omari Spellman defend during the second half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. The Clippers won 109-100. (AP Photo/Mark J. Terrill)Los Angeles Clippers forward JaMychal Green, right, dunks as Golden State Warriors forward Eric Paschall defends during the second half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. The Clippers won 109-100. (AP Photo/Mark J. Terrill)Los Angeles Clippers forward Montrezl Harrell, left, shoots as Golden State Warriors center Willie Cauley-Stein defends during the second half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. The Clippers won 109-100. (AP Photo/Mark J. Terrill)Los Angeles Clippers forward Kawhi Leonard, left, blocks a shot by Golden State Warriors guard Alec Burks during the second half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. The Clippers won 109-100. (AP Photo/Mark J. Terrill)Los Angeles Clippers forward Kawhi Leonard, right, goes up for a dunk as Golden State Warriors forward Omari Spellman defends during the second half of an NBA basketball game Friday, Jan. 10, 2020, in Los Angeles. The Clippers won 109-100. (AP Photo/Mark J. Terrill)Clippers guard Patrick Beverley, right, grabs a rebound away from Warriors guard Alec Burks, left, and guard Ky Bowman during the second half of Friday’s game at Staples Center. Beverley (12 points, 10 rebounds, nine assists and a career-high-tying three blocked shots) fell one assist shy of his first career triple-double in the Clippers’ 109-100 win. (AP Photo/Mark J. Terrill)NextShow Caption1 of 19Clippers guard Patrick Beverley, right, grabs a rebound away from Warriors guard Alec Burks, left, and guard Ky Bowman during the second half of Friday’s game at Staples Center. Beverley (12 points, 10 rebounds, nine assists and a career-high-tying three blocked shots) fell one assist shy of his first career triple-double in the Clippers’ 109-100 win. (AP Photo/Mark J. Terrill)ExpandLOS ANGELES — Steve Kerr certainly isn’t concerned about the Clippers.Before his depleted Golden State Warriors team pushed the Clippers for much of Friday night’s game at Staples Center, the three-time NBA champion coach offered some perspective on his opponent’s state of affairs.“They’re playing for the playoffs,” Kerr said. “And sometimes you just bide your time a little bit and lay in the weeds a little bit, but we know who they are and they’re going to be one of the teams to beat in the playoffs.”The Clippers showed a glimpse of what that team might look like when it’s clicking in the fourth quarter of their 109-100 win on Friday, outscoring Golden State 36-17 in the final frame to recover from a 10-point deficit entering the final 12 minutes. Cookies ➡️ Easy Two #ClipperNation • @LAClippers pic.twitter.com/WUuemF1DcO— FOX Sports West (@FoxSportsWest) January 11, 2020 Tonight, Patrick Beverley was one assist shy of his first career triple-doubleHe chats with @jaimemaggio following tonight’s come-from-behind win.#ClipperNation • @LAClippers pic.twitter.com/56SPtk0jHu— FOX Sports West (@FoxSportsWest) January 11, 2020 Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more