dan patrick chris webber fab fiveFormer NBA and Michigan basketball star Chris Webber went on The Dan Patrick Show Wednesday morning. The current NBA analyst for Turner Sports discussed a number of things with Dan Patrick, including, most notably, his time with the Wolverines and ESPN’s 30 for 30 “Fab Five” documentary, which Webber was not a part of. While on that topic, Webber seemed to criticize some of his former teammates, who he says exaggerated their importance in the film. “My whole thing has been it’s always been about us five,” he told Patrick. “And so when one guy has a million highlights in there of himself like he was the leading scorer, like when the stories are all after and embellished it’s just a little hard for me. But I think it was entertaining, there was a lot of truth in it.”Here’s the full interview:
OTTAWA – Homeowners with variable-rate mortgages have seen their rates go up over the past year as the Bank of Canada has raised its key interest rate target four times.And now, with economists expecting the central bank to hike its target interest rate again next week, those who have continued to stick with the variable-rate option may again be thinking about converting to a fixed-rate mortgage.Scott Evans, a financial planner at BlueShore Financial in North Vancouver, B.C., says you should ask yourself why you decided to choose a variable-rate mortgage in the first place and if anything has changed.“Was it something that you really thought about or was it something that you just chose because it was the lower rate at the time,” he said.The Bank of Canada has raised its key interest rate target by a quarter of a percentage point four times since July 2017, increasing it by a total of one percentage point to 1.5 per cent.Those moves by the central bank have prompted the country’s big banks to raise their prime lending rates, taking the amount charged on variable-rate mortgages higher.“Historically, you’ve been better off in a variable rate as far as rates go, but rates do fluctuate and if you see rates go up, more of your payment will be going toward interest rather than principal,” Evans said.“If that’s something that keeps you up at night then I think, yes, you should be looking at a fixed.”Omar Abouzaher, regional vice-president at Bank of Montreal, says the majority of the bank’s customers go for fixed-rate mortgages, opting for the certainty they provide over the term of the loan.“We are in a rising interest rate environment and it is always good to have a pulse check basically and have a mortgage review with your bank just to review where you are and assess your options,” he said.Abouzaher said switching to a fixed-rate mortgage can give you peace of mind because you will know what the interest rate you will be charged for the term of your loan.“You are not subjected to any fluctuations or surprises,” he said.But converting to a fixed-rate mortgage does not come without down sides.A fixed-rate mortgage will have a higher rate than you are currently paying. The savings come if rates continue to rise, but if you lock in and rates don’t continue to rise or even reverse course, you could end up paying more in interest than you would have if you stuck with the variable-rate loan.The penalty to break a fixed-rate mortgage before it is up is also generally higher than the cost to get out of a variable-rate loan early.“If you’re planning on selling your house and you’re planning on purchasing a new property, if you want to get out of your mortgage and break your mortgage, definitely the penalties are a bit cheaper on variable mortgages,” he said.Evans, who locked his own mortgage in last year, noted that a lot of people locked in at the time in part because the difference between variable and fixed-rate mortgages was quite narrow.“As rates have climbed we’ve seen that spread grow a little bit,” he said.But Evans says you shouldn’t try to predict where interest rates are going to go because even the experts get it wrong.“You shouldn’t be making your decision based on the outlook for interest rates that you’re reading in the newspaper. You should be making it on your own situation, your own personality, how it works with your overall financial plan.”
TOKYO — Asian shares rose Wednesday amid hopes for progress in U.S.-China trade talks.ASIA’S DAY: Japan’s benchmark Nikkei 225 jumped 2.2 per cent to 21,602.75. Australia’s S&P/ASX 200 edged up 1.4 per cent to 5,653.50. South Korea’s Kospi was up 1.4 per cent at 2,082.57. Hong Kong’s Hang Seng added 1.7 per cent to 26,216.08, while the Shanghai Composite index rose 0.3 per cent to 2,602.15. Shares also rose in Taiwan, India and most Southeast Asian markets.TRADE TALKS: Recent media reports say China has agreed to reduce tariffs on U.S. autos. That has raised hopes the two countries can make progress on their trade dispute. Investors worry weaker global trade would dent economic growth and corporate profits around the world.WALL STREET: The S&P 500 dipped by 0.94 points, or less than 0.1 per cent, to 2,636.78, while the Dow Jones industrial average fell 53.02, or 0.2 per cent, to 24,370.24, and the Nasdaq composite rose 11.31, or 0.2 per cent, to 7,031.83. Slightly more stocks fell on the New York Stock Exchange than rose.THE QUOTE: “U.S.-China trade developments appear to be the outstanding item set to aid Asia markets,” said Jingyi Pan, market strategist at IG in Singapore. “Much needed positive news in the form of auto tariff reduction underpinned the early optimism.”ENERGY: Benchmark U.S. crude oil gained 45 cents to $52.10 a barrel in electronic trading on the New York Mercantile Exchange. It rose 65 cents to settle at $51.65 per barrel Tuesday. Brent crude, the international standard, gained 57 cents to $60.77 per barrel.CURRENCIES: The dollar rose to 113.41 Japanese yen from 113.08 yen late Tuesday. The euro slipped to $1.1329 from $1.1384.___Yuri Kageyama is on Twitter at https://twitter.com/yurikageyamaOn Instagram at https://www.instagram.com/yurikageyama/?hl=enYuri Kageyama, The Associated Press
TOKYO — SoftBank Group Corp.’s Japanese mobile subsidiary has begun trading in one of the world’s biggest share offerings rivaling that of China’s Alibaba Group.Wednesday’s IPO on the Tokyo Stock Exchange seeks to raise more than 2 trillion yen ($18 billion).Softbank fetched the initial price of 1,463 yen ($13.03), down 2 per cent from the IPO price of 1,500 yen announced earlier this month.Softbank is listing 1.6 shares, or about one third held by its parent company.The Associated Press
Mumbai: Reserve Bank governor Shaktikanta Das Tuesday underlined the need for sticking to the fiscal roadmap by adopting a commonly agreed expenditure code-based spending plan to address the socioeconomic challenges. He also advocated giving permanent status to the finance commission. The comments from the former-economic-affairs- secretary-turned-central banker assume importance as the government for two consecutive terms have missed it fiscal deficit targets by 10 bps in the outgoing fiscal year. Many analysts fear that even the upwardly revised fiscal deficit target of 3.4 percent may be difficult to meet given the massive shortfall indirect tax collection and also shortfall in other budgeted non-tax revenue. Das, speaking at the launch of a book ‘Indian Fiscal Federalism’, by former RBI governor YV Reddy along with GR Reddy here this evening, Das said there is now general agreement about the importance of fiscal consolidation roadmaps both at national and state levels. “While adhering to fiscal deficit targets and debt- to-GDP ratios, it is equally important to undertake a robust expenditure planning based on a ‘commonly agreed expenditure code’ to address the socioeconomic challenges without diluting the goals of fiscal consolidation,” he said. Das, however, said his views do not represent the deliberations or the direction of thinking of the 15th Finance Commission, where he was a member for more than a year. Das said over the past several decades, the successive finance commissions have adopted different approaches with regard to principles of tax devolution, Central grants to be given to the states and fiscal consolidation issues. While at one level, there has to be a framework for fresh and innovative thinking by every finance commission, there is also a need to ensure broad consistency between various finance commissions so that there is some degree of certainty in the fund flow, especially to the states, he said adding this has become more critical in the post-GST scenario. “There has to be continuity and change between finance commissions. Increasingly, it is felt that there is a need to give permanent status to the finance commission,” Das said. According to him, the principle of decentralisation works better when powers and functions are delegated based on which tier of governance is best suited to fulfill that responsibility. Although the Constitution has provided for delegation of certain functions to the urban and rural local bodies, it is seen that there is still a good distance to traverse when it comes to devolution of funds to these local bodies. “It is, therefore, essential that state finance commissions are constituted every five years as well, he said. Das said recent initiatives in fostering cooperative federalism have opened new chapters of cooperation between the Centre and the states, as reflected in the GST Council, which is functioning on the principle of shared sovereignty. “We are, however, a union of states in which both the Union and the states have to be fiscally strong. While this issue has to be addressed by the finance commission, the challenge for GST council is to realise the full potential of GST for enhancing tax-GDP ratio and work on other areas of the economy to enhance competitiveness,” he said. Das mooted that the GST Council can expand its scope and agree to work on other areas of reforms to generate national consensus. But he warned aganist cooperative federalism breeding inertia instead of encouraging competitive federalism.
Ohio State landed what some may consider its best recruit in recent memory.Braxton Miller, the No. 2-ranked quarterback in the country, chose OSU Thursday out of a group of the NCAA’s top football programs that were all hoping to add him to their squad next year.Unlike current starter Terrelle Pryor, Miller was recruited not for his athleticism, but his pure talent at the quarterback position. Miller has made a name for himself in the passing game during his career at Wayne High School in Huber Heights, Ohio.According to Kevin Noon of BuckeyeGrove.com, coming out of a larger school like Wayne should better prepare him for his career at OSU.“He comes out of a strong program and that will give him somewhat of an advantage when he gets to the collegiate level,” Noon said. “Sometimes you have players who come out of systems that are not geared toward the next level, but that is not the case with Miller.”The junior stands at 6-foot-1, 185 pounds, but what he lacks in size, he has made up for on the field.Landing the state’s top quarterback will hopefully lead to a domino-effect for the Buckeyes, bringing in other solid wide receivers and players for the 2011 recruiting class.The next target for OSU will likely be Springfield linebacker Trey DePriest, a familiar face for Miller.“They have been friends for a long time and despite playing at different high schools, the lure of playing at the same college could play a factor in DePriest’s decision,” Noon said.With a commitment from Miller, OSU fans will be able to breathe a sigh of relief for the future of their team when Pryor is no longer a Buckeye.
Tottenham was the only Premier League club not to sign any players during the summer transfer windowAccording to Don Goodman, one of England’s longest playing footballers, the fact that Tottenham Hotspur did not sign any players is “remarkable.”“The fact that Spurs have no signings, I find quite remarkable really because they are now in the business of trying to win trophies,” he told Sky Sports News on Thursday night.Jose Mourinho is sold on Lampard succeeding at Chelsea Tomás Pavel Ibarra Meda – September 14, 2019 Jose Mourinho wanted to give his two cents on Frank Lampard’s odds as the new Chelsea FC manager, he thinks he will succeed.There really…“Now they have made massive strides over the last four or five season, but they are still trophyless. They have seen every single team in and around them buy players,” he added.“And so it adds a bit of pressure as it is almost an arrogant attitude saying, almost, that ‘We are alright.’”Tottenham Spurs boss Mauricio Pochettino already defended himself and his club, saying he doesn’t need new signings.