Could these cheap FTSE 100 stocks be the best UK shares to buy now?

first_img I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Simply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” Image source: Getty Images We all know that the coronavirus pandemic caused high street retailers in Britain to close their physical stores as the nation was placed under lockdown. Consequently, listed retailers in the FTSE 100 watched their share prices tumble over fears surrounding the future of the underlying businesses. However, with lockdown restrictions beginning to ease up and stores starting to reopen their doors, could FTSE 100 retailers be the best UK shares to buy ahead of a potentially swift economic recovery?British fashion retailers JD Sports (LSE: JD) and Next (LSE: NXT) have had a tough time over the past few months. Both saw their share prices fall by considerable amounts in the depths of the market crash, tumbling by 66% and 52% respectively. This comes as no surprise given the closure of all stores combined with worries over the long-term future of the high street.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Thankfully, both firms have a strong online presence which, to a certain extent, has enabled sales to keep ticking over. That said, online sales alone were by no means enough to keep overall sales close to pre-pandemic levels.FTSE 100 starsSince the beginning of 2013, the JD Sports share price has skyrocketed by 1,785% to date. Prior to the sell-off, that figure was a staggering 2,482%! The sports fashion retailer’s growth is testament to its stellar business strategy and reputation. The company has firmly established its position in the market as the nation’s go-to trainer store. Additionally, in my view, the coronavirus won’t have affected JD’s business negatively long term. I think shoppers are likely to return, boosting the business in the process.And Next? A recent trading update released by the firm revealed the extent of the financial damage caused by Covid-19. Total full-price sales fell by 38%, with retail store sales down by 52% and online sales down by 32%. Yet despite a meaningful debt pile, the company maintains a relatively healthy balance sheet. This should ensure its ability to overcome weak sales in the short run. Thanks to the company’s importance as a major online retailer, Next should weather the storm comfortably in my view.The future of retailSo are they both buys, in my eyes? One of my concerns involves the extent to which consumer spending may be affected by the pandemic. It’s deemed unlikely that shoppers will make a quick return to the high street in pre-pandemic numbers — bad news for both retailers. That said, an article published in the Financial Times on Monday reported that: “Eager shoppers queued early outside some stores on London’s Oxford Street”, an anecdotal but nonetheless positive sign that consumers are still willing to spend.Nevertheless, Covid-19 undoubtedly posed an unprecedented challenge for retailers. With the sector already in a state of decline, there are legitimate fears that the pandemic could speed up the process. For this reason, I’d limit my investments to retailers with a strong online presence. For that reason, both companies satisfy my criteria and more. Both are market leaders with a powerful online presence.Ultimately, the depressed share prices of these FTSE 100 retailers may signal significant value. Provided the economy continues to make a swift recovery, there may never be a better time to buy shares in JD Sports and Next. With that in mind, I feel these FTSE 100 retailers may truly be among the best UK shares to buy now. Matthew Dumigan has no position in any of the shares mentioned. The Motley Fool UK owns shares of Next. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.center_img See all posts by Matthew Dumigan Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Could these cheap FTSE 100 stocks be the best UK shares to buy now? I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Matthew Dumigan | Wednesday, 17th June, 2020 | More on: JD NXT Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!last_img read more

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2021-07-05

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The 52nd Vinkovci Autumn was officially opened

first_imgOn the big stage on Ban Šokčević Square, a program entitled “Ex Slavonia” or “From Slavonia” was held, which officially opened the 52nd Vinkovci Autumn, which is held from 8 to 17 September in Vinkovci.Actors, singers, soloists on traditional instruments, tamburitza ensembles, cultural and artistic societies, singing groups and many others, were part of the stage and music event, which this year was conceived by the author Ana Cvenić, according to whom the script structure is ditiramb beauty of Slavonia plains expressed by the song of Vinkovci poet Vladimir Kovačić “Ex Slavonia” and a series of fragments through which the story of Slavonia. It is also a story about young people, for whom love and beauty are in the first place in terms of importance, explains Ana Cvenić.”Welcome to a city that has nurtured Croatian traditional history for more than half a century. I invite you to take a peek into the rich treasury of Croatian traditional culture and heritage this weekend, which is the crown of our event, and to experience all the beauty of the customs of the Homeland in our city, and on our streets and squares you can taste Slavonia with all your senses. The beauty of our tame Slavonian plain was crowned by this event which, with its optimism and unsurpassed beauty, always brings joy to the hearts of both the participants, of whom there are almost 10.000 this year, and I believe you who are here tonight. Slavonia provided the world with a great constellation of people who enriched their homeland with their words and vision, enriched a person’s life, stimulated his thoughts and quivered his feelings. I am convinced that the Vinkovci Autumns, through their half a century, have managed to evoke the past in its original forms, successfully show the present, and at the same time direct many young generations to the future who will nurture the customs of their ancestors and love for the Croatian land. ” – said Vinkovci Mayor and President of the Organizing Committee of the 52nd Vinkovci Autumns Ivan Bosančić, and then the event was opened by Parliament Speaker Goran Jandroković, who stressed that this traditional Croatian folklore festival has become one of the most important events of its kind in Croatia, but also in this part Europe.The rich program was attended by 14 professional and four amateur actors, then KUD Šumari, HKUD Osijek 1862, KUD Šokadija from Stari Mikanovac, tamburitza ensembles Dike, Slavonske lole, Caprio, Đeram, Slavonski dukati, singing group Sinovi atara, Women’s singing group Andrijaševci , singing group Lipe, Šima Jovanovac, Stanko Šarić…The little folklorists in the procession showed that they are worthy guardians of the heritage of their ancestorsOver 2500 children from 58 children’s folklore groups from all Croatian counties marched through the streets and squares of Vinkovci last weekend and it was the culmination of this year’s Children’s Vinkovci Autumns, one of the most attractive events of the 52nd Vinkovci Autumns held from 8 to 17 September. Passing in a procession, small folklorists performed parts of their program, and in front of the gymnasium in the Pedestrian Zone, each group stopped and performed a dance, a game, sang a children’s popcorn, a count or a custom and thus presented themselves to the audience who rewarded them with applause. by way of parade.Proudly wearing the folk costume of their place and region, the children showed that they are diligent and proud guardians of the heritage they inherited from their ancestors, and many spectators knew how to reward them with long applause.last_img read more

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2020-11-18

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Tesla is calling some California plant workers back next week

first_imgTesla is calling some workers back to its lone US vehicle-assembly plant starting next week, before San Francisco Bay area stay-home orders are scheduled to expire.Supervisors told some staff in the paint and stamping operations of the factory in Fremont, California, to report to the facility on April 29. In messages seen by Bloomberg News, plant leaders ask workers to reply and say whether they plan to show up.Tesla representatives didn’t immediately respond to a request for comment. Tesla had previously communicated to workers that it expected to resume normal production at its US facilities on May 4, the day after Bay area health measures are slated to end. The electric-car maker clashed with Fremont officials last month over whether its factory was an essential business or otherwise needed to shut down to comply with an Alameda County order issued in mid-March.The Fremont plant builds every vehicle currently in Tesla’s lineup — the Model Y, 3, X and S — and last produced cars on March 23. Analysts at Credit Suisse estimate that the factory’s shutdown has been driving about $300 million of cash burn per week.When Tesla was resisting calls to idle the factory last month, Fremont officials sought clarification from Alameda County as to whether the company was an essential business. Erica Pan, the county’s health officer, considered the plant to be a public health risk, according to documents obtained through a California public-records request.Debate over how soon it will be safe for auto companies to reopen their factories is now dividing the industry. While carmakers including Volkswagen, Toyota Motor and Hyundai Motor have said they intend to restart operations early next month, the United Auto Workers union has said that’s too soon and too risky for its members, who work for General Motors, Ford Motor and other manufacturers.Topics :last_img read more

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2020-10-19

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Ronaldo using rugby studs to get extra advantage on the pitch

first_img Loading… read also:Ronaldo tops chart for highest-earning athlete on Instagram during lockdown They seem to be working, as Delort set a record for this season in Ligue 1 by sprinting at 36.8km/h. These are likely to be rubber studs more than metal, allowing for greater flexibility and speed. FacebookTwitterWhatsAppEmail分享 According to Tuttosport and Sport Mediaset, CR7 believes the change to his boots will get a stronger grip on the turf and enable him to run faster. It’s not entirely a new idea, as Montpellier forward Andy Delort has already been using these studs since February 19.Advertisementcenter_img Juventus star, Cristiano Ronaldo, is reportedly using new studs inspired by rugby to get an extra advantage on the pitch.last_img read more

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2020-09-24

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La Liga: Real Madrid have five untouchable stars for run-in

first_img Promoted Content8 Things To Expect If An Asteroid Hits Our Planet6 Incredibly Strange Facts About Hurricanes7 Universities Where Getting An Education Costs A Hefty Penny20 Amazing Facts About The Daenerys Of The House Of Targaryen8 Best 1980s High Tech Gadgets6 Most Unforgettable Bridges In The World11 Movies That Changed The Way We Think Of CGI Forever5 Of The World’s Most Unique Theme ParksEver Thought Of Sleeping Next To Celebs? This Guy Will Show YouBest & Worst Celebrity Endorsed Games Ever MadeBirds Enjoy Living In A Gallery Space Created For ThemThe Very Last Bitcoin Will Be Mined Around 2140. Read More Loading… Real Madrid have five players who are untouchable in their starting line-ups for the remaining seven matches of the season in La Liga.Advertisementcenter_img As highlighted by the front page of Saturday’s edition of Diario AS, goalkeeper Thibaut Courtois, defensive trio Dani Carvajal, Sergio Ramos and Raphael Varane along with striker Karim Benzema are the five names who are the first on the teamsheet for boss Zinedine Zidane.Los Blancos have won all four fixtures in La Liga since the resumption of Spanish football earlier this month and enter the final seven rounds of action just ahead of Barcelona in the race for the title, due to their superior head-to-head record against the Catalan side.Read Also: Liverpool will struggle to match Man Utd dominance, says SolskjaerMadrid now appear to be reaching their best form of the season in the vital stages, having entered the prolonged break from football with an underwhelming 2-1 loss against Real Betis.Next up for Zidane’s side is a trip to basement team Espanyol on Sunday.FacebookTwitterWhatsAppEmail分享 last_img read more

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2020-09-24

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It’s been quite the summer for the World Series bound Wellington 16-under softball team

first_imgby James Jordan and Tracy McCue, Sumner Newscow — The Wellington 16-under Babe Ruth Girls Softball team is just a week away from the biggest tournament of these young ladies lives so far, when they travel to the Babe Ruth Girls Softball 16-under World Series in Jensen Beach, Fla. The tournament will be a two bracket tournament and consist of eight teams from across the United States. The team flies out of Oklahoma City on August 6 for the seven day tournament. It will consist of pool play and a championship bracket thereafter. No bracket for this tournament has been finalized at this time.  It’s been quite awhile that a Wellington team has been represented in a Babe Ruth World Series. From what we could tell, the Wellington Babe Ruth 13-15 year old All Stars were in the World Series back-to-back years in Anchorage, Alaska in 1967 and Kiamath Falls, Oregon in 1968. Now the table is set for Wellington to step up on the national stage again. The team is a mix of older and younger players from Wellington. Three will be seniors for the Wellington Crusader softball team this spring: Baylee DeJarnett, Siarah Walker and Taylor Zimmerman.  Three will be juniors, Erin Goodrum, Madison Goans and Madison Lewellen.  The remaining girls on the team, Annika DeJarnett, Bre Turner, Emily Templeton, Gracie Fink, Jenna Rausch, Lexi Saffell, and Sammie Lira, will all be sophomores. This group has played together at various times for several years, some going back as far as when they were 6 or 7-years-old. Coaches knew they would have a pretty good team in the summer of 2015, and it helped that Wellington was the location of the Midwest Plains Regional at Worden Park. The girls clinched a World Series berth with a 14-8 victory against Southeast Denver 14-8 in the championship game on July 19 (see story here). Wellington has been undefeated all summer – going 26-0, and the regional was no exception where most of the locals’ wins were by double digits. “They have played very well together,” said Shawn DeJarnett, Wellington 16-under head softball coach. “We have hit the ball very well through the season and played good defense.  Erin Goodrum is one of three pitchers for the 16-under team.“The key to tournament success is typically pitching.  I felt all along we had good pitching.  I had thought if we had three good pitchers, we could make a pretty good run at winning.” Madison Lewellen and Erin Goodrum were very strong pitchers, especially in the post season. They were doing so well that it was hard to get innings for their third pitcher, Annika DeJarnett. In the state tournament they allowed only three runs, and only nine hits at the regionals. They have pitched six shutouts in 11 post season games. Their regular season era was 1.6, which is pretty good, and they have stepped it up a notch in the post season, lowering it to 1.25.Shawn DeJarnett speaks with one of his players during a Midwest Regional. Since their Midwest Championship victory, practicing has been one thing, fundraising has been another. Babe Ruth will be paying for the flight to Florida which will include the players and coaches. But they must stay at specific hotel accommodations in a city not too far north of Fort Lauderdale. Then there is the general expenses of the trip like food, travel and other items. It will be several ‘firsts’ for many on this team. Some have never flown and some have not seen a beach, and of course there will be the tournament itself. To pay for these expenses, the 16-under group have embarked on several fundraisers. •Tonight, The Dore will be hosting at its tournament from 5 to 9 p.m. hamburgers and fries with all proceeds going to the softball team’s travel expenses. •The group will be hosting a pancake feed and bake sale/pie auction on Saturday from 5 to 8 p.m. at the Knights of Columbus. •People can make donations at the Wellington Rec Center. To get on a T-shirt, donations need to be made by Friday (see information here). •Last week, T.D. Barbecue donated all its food proceeds for the Great Race for travel expenses. It has been quite an endeavor, and one the girls will never forget. When the girls throw out their first pitch at this year’s World Series, a community 1,500 miles away will be smiling. Follow us on Twitter. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more

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2020-08-14

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Hey! It’s the 27th April. So What?

first_imgPeople who will vote in the next General Election in 2009 were 3 years old when all South Africans could vote in a democratic General Election on 27th April 1994 irrespective of race or creed. Eighteen year olds who voted for the first time then, will be 33 years old at the next General Election. It would be an interesting survey to find out what either age cohort thinks about the significance of a non-racial vote and of democratic participation in the politics of our country.The 27th April should be the most symbolically significant and strategically relevant public holiday on our annual calendar of public holidays. It was on that day in 1994 that legalized racial discrimination and oppression was voted out of our public life and policy. It should not only be a day of remembrance and rejoicing but of reflection and debate on the significance of adult suffrage and its role in democratic policy making. One feels a sense of dread that the survey mentioned might reveal a great deal of ignorance, even indifference about the significance of non-racial adult suffrage in the lives of the two age cohorts mentioned. Why?In the first place the vote exercised every five years has become a ritual of affirmation of predetermined candidates appointed by Party Bosses. It is gesture of complete voter disempowerment. The average voter knows only which party he or she voted for but not the actual public representatives which they can call to account.Secondly, the issue of accountability means that the voter can identify an individual or individuals coming from the area in which the voter lives and who, through being elected, is committed to interact with those voters and addressing their concerns. Attempts are now being made by the ANC for example, to allocate constituencies to MP’s and urging them to look after them. However, the constituencies have no statutory relevance and are not electorally contestable. Consequently the party can do with them as they see fit without fear of voter recriminationThirdly, participatory democracy means exactly that voters be actively encouraged to participate in the governance of their constituency, provinces and parliament. In the very real sense it should mean that “the people shall govern”. Instead you have elected representatives who create self serving bureaucracies in which they dish out positions and privileges to one another. There is nothing wrong with such officials, from the President down holding regular imbizos to hear first hand from constituencies what their grievances are. But such imbizos do not guarantee delivery or subsequent accountability.All of the above concerns mean that the current electoral system for national and provincial politics is hopelessly inadequate to promote serious democratic participation and accountability.  The system is one of closed list Proportional Representation where the list is effectively drawn up by the party leaderships and presented to the voters as a fait accompli. This system was provisionally adopted by all parties to get us over the problems of a first non-racial democratic election. And it worked. It was uncomplicated and very easy to administer. But it was also agreed that the system was provisional and would be looked at a later stage. This was done by the appointment of an Electoral Commission which investigated various electoral alternatives and had interviews with all the parties in parliament as well as the input of international and local experts. The recurring complaint with the exception of the governing party and official opposition, was lack of accountability and participation on the part of the voter.The majority recommended that a system of multi – member constituency participation should be implemented, initially under a closed list proportional system but moving eventually to an open list. This system should apply to 300 candidates of the 400 in Parliament whereas the remaining 100 should cater for special interest lobbies such as women, the aged and disabled etc.The multiple member constituency system is often confused with a first past the post constituency system such as Great Britain has and the old racist Parliament in South Africa had.   Nothing can be more different.  The multiple member constituency system, for example, means South Africa is divided into approx 70 constituencies.   From each, no less than three and not more than seven candidates can be elected, from the Constituency (NB).   Initially the list can be closed i.e. candidates being appointed by the party but eventually it should be open in the sense that a voter can vote for candidate 1 from party A and candidate 3 from party C etc.  Such a system will be immediately more accountable to get greater involvement from the voter.We do not have any indication that there is a serious move in this direction from Government. But perhaps if the 27th April, is a public holiday during which ordinary voters are invited to participate in discussions and seminars on the significance of non-racial democratic participation, given the history of our country, then more and more of us can shout together:  “Hey? 27th April: Hurrah!”   More likely however parties will give each other tight lipped smiles and say:  “Happy, happy floor crossing comrades”.   This further dis-empowering the voter.DR F V Z SLABBERT18thApril, 2007last_img read more

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2019-12-19

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2015 Ohio State Fair Reserve Champion Market Steer

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Oliver McGuire of Champaign County was the exhibitor of the 2015 Reserve Champion Market Steer. Ty Higgins caught up with him after the show.last_img

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2019-12-18

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TransCanada says spill clean up underway in South Dakota as pipeline vote

first_imgCALGARY – TransCanada Corp. said Friday that work is well underway to clean up a sizable oil leak at its Keystone pipeline in South Dakota that occurred days before a vote on the fate of the company’s flagship pipeline proposal.The company said about 75 crew members, as well as government officials, are on site near Amherst, S.D., with a full complement of clean-up equipment to contain the 795,000-litre spill in a farmer’s field.“TransCanada has taken this incident very seriously and is working with federal and state regulatory agencies,” the company said in an update.The company said it has observed no further environmental impacts and no threat to public safety, though the nearby Sisseton Wahpeton Oyate of the Lake Traverse Reservation has expressed concern the spill might contaminate water supplies.Thursday’s spill comes four days before Nebraska is set to vote on whether TransCanada can go ahead with Keystone XL pipeline, which would take a more direct route than the existing Keystone pipeline by going through Montana and South Dakota to Nebraska, where it would connect with pipelines that feed Texas Gulf Coast refineries.Environmentalists were quick to point to the spill as reason to reject the Keystone XL project, but state officials said Friday the spill won’t affect their decision.A spokeswoman for the Nebraska Public Service Commission said commissioners will base their decision solely on evidence presented during public hearings and from official public comments.A Nebraska law approved in 2011 prevents the commissioners from factoring pipeline safety or the possibility of leaks into their decisions. Lawmakers argued at the time that pipeline safety was a federal responsibility that pre-empts state law. Opponents say oil interests lobbied for the restriction.The news might not sway the vote, but will bring greater focus to the issue, said James Coleman, an energy law expert at Southern Methodist University’s Dedman School of Law.“It’s the worst possible timing, and it’s a reasonably big spill….I think most people expect the commissioners to approve it regardless, but nonetheless, it’s not helpful.”Among other concerns, opponents of Keystone XL say the pipeline would pass through the Sandhills, an ecologically fragile region in Nebraska of grass-covered sand dunes, and would cross the land of farmers and ranchers who don’t want it.“There’s some states where the big issue is climate change, but Nebraska, the issue has been those local land-use impacts, and so I’m sure the commissioners will have that in mind,” said Coleman.The spill near the border of Minnesota and the source of the Minnesota River has certainly raised concerns about Enbridge’s (TSX:ENB) Line 3 pipeline replacement project in the state, said Coleman.He said he wasn’t sure, however, whether this Keystone spill will have an impact on current review of the pipeline in the state that’s already approved elsewhere, but it certainly will add fodder to those campaigning against oil pipelines.“I think that this will continue to be a bigger and bigger political issue because, as climate campaigners haven’t had success in other areas, they feel like this is one area where they’ve been reasonably successful.”Protesters have already started setting up camps and planning direct action to stop Enbridge’s Line 3 construction, which is already underway in Canada.Pipeline opponents have also vowed to stop the Keystone XL pipeline if it is approved, having once declared victory on the project when Barack Obama rejected it in 2015, only for President Donald Trump to give the go-ahead earlier this year.Shares of TransCanada (TSX:TRP) were down 1.2 per cent in early afternoon trading on the Toronto Stock Exchange, as the energy sector rose half a percentage point.-With files from APlast_img read more

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2019-10-13

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ConocoPhillips wins 2 billion arbitration against Venezuela

first_imgCARACAS, Venezuela – ConocoPhillips said Wednesday that it won a $2 billion arbitration award against Venezuela’s state oil company, compounding the financial woes of the socialist-run nation as it struggles to feed its population.The award represents the equivalent of more than 20 per cent of the cash-strapped government’s foreign currency reserves.The Houston-based company said in a statement that the ruling against PDVSA by an International Chamber of Commerce panel was final and binding.“ConocoPhillips will pursue enforcement and seek financial recovery of its award to the full extent of the law,” the company said in a statement.But collecting the judgment won’t be easy, as President Nicolas Maduro is holding on to the few dollars trickling into the country from plummeting oil production and amid sanctions by the Trump administration barring U.S investors from lending money to the government.There was no immediate comment from Venezuela’s government.The ruling arose from the expropriation of ConocoPhillips’ investments in two heavy crude oil projects in 2007 at a time then President Hugo Chavez increased the state’s take of record oil rents, forcing foreign oil companies to accept less generous terms. Many instead left the country and sued to hold up their original contracts.ConocoPhillips is pursuing separate legal action against Venezuela’s government under the auspices of the World Bank’s investment dispute mechanism. The World Bank tribunal has already ruled that Venezuela broke international law when it nationalized Conoco’s stakes in the two fields. Proceedings are underway to determine the amount of compensation.Venezuela still faces 22 arbitration cases at the World Bank, more than any other country in the world, with potential losses stretching into the billions.last_img read more

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2019-10-13

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