DUBLIN (Reuters) - Irish consumer sentiment dropped to its lowest level in nine months in March as the prospect of U.S. tariffs on the European Union made consumers more nervous about the outlook for the economy and their own finances, a survey showed on Friday.

The Credit Union Consumer Sentiment index fell to 67.5 from 74.8 in February, the largest monthly pullback in two-and-a-half years and well below its long-term average of 84.2.

Research co-authored by the Irish finance ministry this week found that Ireland faces a disproportionate hit from tit-for-tariffs.

Irish League of Credit Unions CEO David Malone said it was not surprising that the sentiment survey painted a picture of a much more nervous Irish consumer.

Gold prices hit a record high in Asian trade on Friday, extending recent gains amid heightened safe haven demand after U.S. President Donald Trump imposed steep tariffs on the automobile sector.

Investors were also bracing for a potentially hotter PCE price index reading later in the day. The print is the Federal Reserve’s preferred inflation gauge, and is expected to factor into expectations for future interest rate cuts. 

Gold was sitting on bumper gains through March, having benefited from deteriorating risk appetite as markets fretted over Trump’s tariffs and the threat of a U.S. recession. Geopolitical tensions between Russia and Ukraine, as well as a breakdown in the Israel-Hamas ceasefire fueled haven demand. 

Spot gold traded up 0.6% at $3,073.79 an ounce by 00:47 ET (04:47 GMT), after hitting a record high of $3,077.67/oz earlier in the day. Gold futures expiring in May jumped 0.7% to $3,112.72/oz after hitting a peak of $3,117.50/oz. 

Tariff jitters persist, keep gold uplifted 

Trump’s auto tariffs were a main point of support for gold in the past two sessions, with the U.S. President stating that his 25% duties will take effect from April 2. 

Trump is set to announce reciprocal tariffs against a host of major U.S. trading partners on the date, with the scope and potential impact of his tariffs being a key point of uncertainty for markets.

Trump has also threatened tariffs against industries such as semiconductors and pharmaceuticals, as well as select commodities. 

The U.S. President’s tariff agenda has drawn ire from other countries, with Canada, China, Europe and Mexico all preparing retaliatory measures, marking the start of a global trade war. 

This uncertainty factored heavily into demand for gold.

Other precious metals also rose on Friday. Platinum futures inched up to $989.55/oz, while silver futures were an outlier, rising 0.6% to an over 12-year high of $35.283/oz. 

Among industrial metals, benchmark copper futures on the London Metal Exchange fell 0.3% to $9,828.80 a ton, while U.S. copper futures fell 0.4% to $5.1015 a pound, retreating from record highs hit earlier this week. U.S. copper prices rallied on expectations that Trump’s tariffs on the red metal will severely crimp copper supplies in the country. 

PCE inflation awaited for more rate cues 

Markets were now awaiting key PCE price index data for February, which is the Federal Reserve’s preferred inflation gauge, for more cues on the U.S. economy and interest rates.

While consumer and producer inflation readings for the month showed some cooling, components from the two, which factor into PCE inflation, rose through the month. This kept investors largely on edge over a potentially hotter than expected PCE print. 

Core PCE inflation is also expected to have risen further above the Fed’s 2% annual target. 

Sticky inflation gives the Fed less impetus to cut interest rates, with the central bank having signaled as much during a meeting earlier this month.

By Hyunjoo Jin and Kantaro Komiya

SEOUL/TOKYO (Reuters) -For Japan and South Korea, tariffs announced by U.S. President Donald Trump represent a blow to domestic car industries that are both economic pillars and sources of national pride.

Shares in companies such as Japan’s Toyota and Honda (NYSE:HMC) and South Korea’s Hyundai Motor (OTC:HYMTF) and Kia Corp fell, wiping off some $16.5 billion in value, after Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks to take effect on April 3.

On the streets of Tokyo and Seoul, and in "motor city" Gwangju, people were concerned the levies would have a far-reaching impact, speaking to the singular role the car industry has played in the post-war economic rise of the two U.S. allies.

While car production helped transform Germany, Italy and France after World War Two, its influence in Asia has been even more profound. Automakers form the nucleus of vast networks of group companies that impact almost every facet of working life in the two countries. 

In Japan, where the industry accounts for roughly 3% of gross domestic product, it is the automakers - particularly Toyota (NYSE:TM) - that set the precedent for national wage increases through annual talks between unions and management.

The auto supply chain totalled around 60,000 companies as of May last year, according to research firm Teikoku Databank. The industry is broadly responsible for the employment of more than 5 million people, or 8% of the entire workforce, according to the Japan Automobile Manufacturers Association.

South Korea’s car industry is its biggest employer, and cars and automotive parts account for 14% of exports. About half go to the United States.

"The auto industry is the first thing that comes to mind for most people when you mention manufacturing," said Hiroshi Kojima, a 56-year-old businessman at a materials company who spoke to Reuters in central Tokyo.

"I am worried this could have a big impact on the economy and hit production of Japan’s manufacturers."

UNCERTAINTY IN MOTOR CITY

In Gwangju, South Korea, home to the factories that export Kia’s Sportage, Soul and Seltos crossovers to the United States, "we are concerned about production volume and jobs," said a worker at a Kia supplier, who spoke on condition of anonymity. 

He told Reuters his factory planned to keep staffing Saturday shifts in April, but that demand looked uncertain.

U.S. automaker General Motors (NYSE:GM) has factories in South Korea that export more than 80% of vehicles produced, including Chevrolet Trax and Trailblazer crossovers to the United States. They are likely to be hit harder than plants of South Korean rivals, which produce more cars for the domestic market.

"We are nervous," one union worker told Reuters, also speaking on condition of anonymity. He said management previously told the union that 2025 production would be in line with last year, and has not so far updated its targets.

"We are very concerned about the absence of the South Korean president who can address tariff issues. This is not something that we can control," the worker said, referring to the political turmoil that started in December when now-impeached President Yoon Suk Yeol briefly declared martial law.

South Korea’s industry minister Ahn Duk-geun met with executives from automakers and suppliers on Thursday and expressed concern about the impact of tariffs, especially for auto parts makers. He promised measures by April to minimise the impact, including boosting domestic investments and demand.

Japanese Prime Minister Shigeru Ishiba said Tokyo would put "all options on the table" and noted that Japan is the top source of foreign investment into the United States, something the government has been stressing to Washington.

In 2023 Japan exported 4.4 million vehicles, including trucks and buses, with one-third going to the United States.

The tariffs hit a key part of most global automakers’ supply chains - Mexico, where for years they have built up lower-cost production bases.

Mexico is the top vehicle exporter to the United States, accounting for 2.5 million light vehicles in 2023, according to the Mexican Automotive Industry Association. Nissan (OTC:NSANY) took a 10% share of that, the largest among Asian carmakers but less than General Motors, Stellantis (NYSE:STLA) and Ford.

JOB WORRIES

For 57-year-old waitress Etsuko Fukada, the tariffs highlighted the difficult dynamics of Japan’s relationship with the United States. She said Tokyo was unlikely to speak out because of its reliance on Washington for its military defence.

The auto industry has become even more important as Japan’s influence in other areas - such as consumer electronics and microchips - has waned in recent years. Automakers are still seen as top destinations for new graduates and competition for white-collar jobs can be fierce.

Most Asian stocks fell on Friday, extending recent losses as investors remained on edge over U.S. President Donald Trump’s tariff agenda. 

Japanese markets were by far the worst performers in the region, especially as hotter-than-expected inflation data from Tokyo ramped up bets on an early rate hike by the Bank of Japan.

Automobile and technology sectors clocked the biggest losses, with auto stocks still reeling from Trump’s announcement of 25% tariffs on the sector. Tech was dented by persistent losses in chipmakers, amid growing concerns of oversupply in the artificial intelligence data center industry. 

Regional markets took a weak lead-in from Wall Street, which fell for a second straight session on concerns over Trump’s tariffs. The U.S. The President is set to impose even more duties on April 2. 

U.S. stock index futures were muted in Asian trade, with focus turning to upcoming PCE price index data for more cues on U.S. inflation. 

Japanese stocks slide on hot CPI

Japan’s Nikkei 225 and TOPIX indexes were the worst performers in Asia on Friday, losing more than 2% each.

Losses in the two were driven chiefly by concerns over higher interest rates in the country, after Tokyo consumer price index inflation data read higher than expected for March, remaining above the BOJ’s 2% annual target.

This saw analysts begin factoring in a greater chance that the BOJ could raise rates by as soon as May, as it moves to curb inflationary pressures and wean the economy off monetary support. 

Asia stocks dip on auto, tech losses

Japanese stocks were also wallopped by persistent weakness in heavyweight auto stocks such as Toyota (NYSE:TM) Motor Corp (H:7203) and Honda Motor Co Ltd (TYO:7267). The country’s two biggest automakers slid nearly 5% each, extending steep losses from the prior session following Trump’s tariff announcement. 

Losses in major tech stocks also weighed.

South Korea’s KOSPI slid 1.7% on a similar trend, given that tech and chip stocks are among the heaviest on the index. Hyundai (OTC:HYMTF) Motor (KS:005380)- the world’s third-largest automaker by sales- slid 4.2%, while memory chip giant SK Hynix fell 3.5%. 

In Taiwan, TSMC (TW:2330)- the world’s biggest chipmaker- fell 0.9%, while electronics assembly giant Hon Hai Precision Industry Co Ltd (TW:2317) slid 3.4%. 

Tech stocks were slammed by growing questions over a supply glut in the AI data center industry- a key source of chip demand- after major investor Microsoft Corporation (NASDAQ:MSFT) was seen cancelling several data center leases. 

Broader Asian markets were less negative, with China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes losing about 0.2% and 0.4%, respectively. Hong Kong’s Hang Seng index fell 0.3%, but was on track to recoup all of its losses from earlier in the week. 

Chinese stocks have vastly outpaced their peers so far in 2025 amid growing optimism over the country’s AI capabilities, as well as more stimulus from Beijing. Focus is now on purchasing managers index data for March, due on Monday, for more cues.

Australia’s ASX 200 rose 0.2% before a Reserve Bank of Australia meeting next week, where the central bank is widely expected to keep rates unchanged. 

Singapore’s Straits Times index rose 0.1% after hitting a series of record highs this week, while futures for India’s Nifty 50 index pointed to a flat open. 

The S&P 500 closed lower Thursday as sentiment was hurt by the Trump administration’s announcement to impose tariffs on automobile imports just ahead of key inflation data.

At 4:00 p.m. ET (20:00 GMT), the Dow Jones Industrial Average fell 155 points, or 0.4%, the S&P 500 fell 0.4% and the NASDAQ Composite fell 0.5%.

Trump announces auto tariffs, car stocks slide 

Sentiment has been hit by U.S. President Donald Trump announcing he will impose 25% tariffs on all foreign-made cars and light trucks, effective April 2.

The move is expected to ramp up local automobile costs in the near-term, as manufacturers race to find new supply chains and shift more of their production into the U.S.

But the 25% tariff also heralds pain for U.S. automakers, given that a bulk of them operate factories outside the U.S., especially in Mexico. 

General Motors (NYSE:GM), Stellantis (NYSE:STLA) and Ford (NYSE:F) all traded lower, while U.S.-listed foreign automakers Toyota (NYSE:TM), Honda (NYSE:HMC) and Ferrari (NYSE:RACE) also fell. 

Trump’s auto tariff threat sparked renewed concerns over the economic impact of his tariff agenda, especially as he gears up to impose tariffs on several major U.S. trading partners, also on April 2, a date he has dubbed "liberation day". 

U.S. economic growth slows 

Worries that the trade duties will dent U.S. growth and potentially reignite inflation have weighed on U.S. equities in the first quarter of 2025.

Data released earlier Thursday showed that U.S. economic growth slowed in the fourth quarter, according to a final revision of government data that followed two earlier estimates.

Gross domestic product increased at an annualized rate of 2.4% during the period, compared to a rise of 3.1% in the July-September quarter, figures from the Commerce Department’s Bureau of Economic Analysis showed.

Economists had predicted that the number would remain unrevised at a prior estimate of 2.3%.

Lululemon to report, AMD falls on downgrade

On the earnings calendar, markets will keeping tabs on a quarterly report from athleisure wear company Lululemon Athletica (NASDAQ:LULU) after the closing bell.

Investors are tipped to pay particularly close attention to any comments executives from the group may give about the broader outlook for discretionary spending, with recent data indicating that shoppers are becoming more cautious due in part to possible economic headwinds from Trump’s tariffs.

Elsewhere, Winnebago (NYSE:WGO) stock rose over 8% after the manufacturer of motorhomes reported better-than-expected fiscal second-quarter revenue and a narrowed loss.

Robinhood Markets Inc (NASDAQ:HOOD) fell 1% after rolling out weather management and private banking services.

Advanced Micro Devices Inc (NASDAQ:AMD) fell 3% after Jefferies’ downgrade to hold from buy, citing competition concerns.

(Peter Nurse, Ambar Warrick contributed to this article.)

(Reuters) - Declines in auto stocks pushed European shares to a two-week low on Thursday after U.S. President Donald Trump announced plans to slap 25% import tariffs on all vehicles and foreign-made auto parts from next week.

The pan-European STOXX 600 was down 1% to hit its lowest point since March 14, as of 0806 GMT. The benchmark index for Germany, among the biggest auto suppliers of car and car parts to the United States, fell 1.4%.

Shares of Volkswagen (ETR:VOWG_p), the most vulnerable among German carmakers to tariffs due to its large supply base in Mexico and lack of U.S. production for its Audi and Porsche brands, dropped 3.6%.

Chrysler parent Stellantis (NYSE:STLA) slumped 6.4%, BMW (ETR:BMWG) fell 3.9%, Porsche slid 4.2%, while Volvo (OTC:VLVLY) Cars and car parts maker Continental shed about 2.5% each.

The STOXX 600 autos sector slumped more than 3.3%, on track to erase all of its gains seen this year.

Car industry stocks ranging from the U.S. to Asia were hit hard as the new levies could increase the cost of an average U.S. vehicle by thousands of dollars, given the intertwined manufacturing operations across Canada, Mexico and the United States.

Germany’s economy minister and its auto association slammed the newly announced U.S. tariffs, warning that they would harm both European and U.S. economies, and called for urgent negotiations to avert a spiralling trade war.

By Ankur Banerjee

SINGAPORE (Reuters) - The euro weakened to a three-week low on Thursday and the yen was steady against the dollar after U.S. President Donald Trump slapped a 25% tariff on imported cars and light trucks starting next week as the looming all-out trade war dims risk sentiment.

Investors worry that the trade duties will dent U.S. growth and potentially reignite inflation, although the prospect of narrower-than-feared tariffs has buoyed sentiment recently.

The currency market reaction to the auto tariffs was largely muted, with the euro down 0.07% at $1.0747 after touching a three-week low of $1.0733 in early trading. The yen was a shade stronger at 150.445 per dollar.

The dollar index, which measures the U.S. currency against six rivals, was at 104.61, close to the three-week high touched in the previous session.

The U.S. imported $474 billion of automotive products in 2024, including passenger cars worth $220 billion. Mexico, Japan, South Korea, Canada and Germany, all close U.S. allies, were the biggest suppliers.

"It’s hard not to interpret this as anything but a cue for higher prices and lower growth with a soft landing becoming more complicated," said Prashant Newnaha, a senior Asia-Pacific rates strategist at TD Securities.

The Mexican peso weakened more than 0.5% to 20.2222 per U.S. dollar in Asian hours. The Canadian dollar was slightly weaker at 1.429 per U.S. dollar, having touched its strongest level since February 24 in the previous session.

Trump for now exempted auto parts that are compliant with the U.S.-Mexico-Canada Agreement on trade that he negotiated during his first term.

Kyle Rodda, senior financial market analyst at Capital.Com said the tariffs indicated the Trump administration’s shake-up of global trade would not necessarily end with an April 2 announcement of reciprocal tariffs, as previously hoped.

"This potentially drags out trade uncertainty even longer and raises the question of how radical a change to the global trade order is Trump trying to bring about," Rodda said.

Investor focus will now be on the reciprocal tariffs due to be announced next week. Trump indicated the measures may not be the like-for-like levies he has been pledging to impose.

The Australian dollar was slightly lower at $0.62925, while the New Zealand dollar was little changed at $0.57245.

“The ramp in demand from Google is driven by what we increasingly believe is a global capacity shortfall as its internal demand ramped amid its late August pullback from the market (which we highlighted in September 2024) stemming from an internal initiative to increase the utilization of its existing data center fleet,” the analyst said. “ As for Meta, the demand ramp comes as it is meaningfully increasing its data center capacity in support of Llama.”

On OpenAI, the firm checks indicate that the company is increasingly securing data center capacity directly from third parties, exemplified by its deal with CoreWeave. Additionally, OpenAI has significant long-term capacity ambitions, planning multiple Stargate projects, each ranging from 800MW to 1.5GW, potentially exceeding 6GW in total. To meet these needs, OpenAI is hiring talent from other hyperscalers with expertise in design, construction, and capacity planning, suggesting a move toward self-building data centers in the medium to long term.

Most Asian stocks fell on Thursday after U.S. President Donald Trump’s announcement of automobile tariffs ramped up concerns over his trade agenda. 

Major technology and chipmaking stocks also fell in tandem with their U.S. peers on growing concerns over a potential supply glut in data center and computing supply for the artificial intelligence industry. 

Japanese shares were the worst hit in Asia, given the Nikkei’s high concentration of automakers and tech, while Chinese markets were steady.

Hong Kong shares advanced on strength in local tech names, which have become increasingly disconnected from their U.S. and global peers in recent months, amid optimism over China’s AI prospects and more stimulus from Beijing.

Broader regional markets tracked overnight weakness in their U.S. peers, as Wall Street tumbled on Trump’s tariff threats. His 25% auto tariffs will take effect from April 2, with the U.S. President also expected to announce a host of other tariffs on that date. 

U.S. stock index futures fell marginally in Asian trade. 

Japan, Korea stocks fall the most on auto, tech losses

Japan’s Nikkei 225 index was the worst performer on Thursday, losing 1.1%, while South Korea’s KOSPI shed 1%.

The two were the worst performers in Asia, given their heavy exposure to automaking and tech stocks. Japan’s TOPIX index shed 0.7%.

Among major Asian automakers, Japan’s Honda (NYSE:HMC) Motor (TYO:7267), Nissan Motor Co., Ltd. (TYO:7201), and Toyota Motor Corp (H:7203) fell between 2.6% and 3.1%. South Korea’s Hyundai (OTC:HYMTF) Motor (KS:005380) sank 3.8% despite recently committing $21 billion towards growing its U.S. operations, which could help shield it from U.S. tariffs.

Trump’s auto tariff comments sparked renewed concerns over the impact of his trade and economic agenda. April 2 is expected to provide more clarity on this front, with Trump set to unveil reciprocal tariffs against major American trading partners next week.

Tech, chipmakers rattled by AI data center questions

Asian tech and chipmaking stocks sank on Thursday, with losses concentrated towards those with heavy exposure to the U.S. AI industry. This came after U.S. tech majors sank overnight, amid growing doubts over AI-driven demand and oversupply of data infrastructure. 

NVIDIA Corporation (NASDAQ:NVDA) suppliers TSMC (TW:2330) and Hon Hai Precision Industry Co Ltd (TW:2317) fell 1.8% and 2.4% in Taipei trade, while Japan’s Advantest Corp. (TYO:6857) slid nearly 7%. South Korea’s SK Hynix Inc (KS:000660) lost about 2%. 

Losses in tech stocks came in tandem with their U.S. peers, after TD Cowen said major AI investor Microsoft Corporation (NASDAQ:MSFT) had canceled several data center leases in the U.S. and Europe, raising concerns of a supply glut in the AI computing sector. Such a scenario could crimp demand for major chip and server makers, with Nvidia sliding nearly 6% on this notion on Wednesday.

Chinese stocks steady, Hong Kong rises 

Chinese markets were an outlier, with the mainland Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rising slightly. Hong Kong’s Hang Seng index rose 0.3%, with local tech stocks appearing to be increasingly insulated from headwinds faced by their U.S. peers. 

Optimism over China’s AI capabilities grew this week following new AI model updates from DeepSeek, as well as tech giants Tencent and Baidu (NASDAQ:BIDU). 

There are more jitters in the AI sector Wednesday after analysts at TD Cowen highlighted that their channel checks show Microsoft is canceling data center leases in the U.S. and Europe, following up on his earlier finding.

Across the AI sector, AI chip makers NVIDIA (NASDAQ:NVDA) and Broadcom Inc (NASDAQ:AVGO) are each down 5%, while AI server makers Dell Technologies Inc (NYSE:DELL) and Super Micro (NASDAQ:SMCI) are down 3% and 9%, respectively.

Specifically, analyst Michael Elias said that Microsoft (NASDAQ:MSFT) walked away from +2GW of capacity in both the U.S. and Europe in the last six months that was in the process of being leased and has both deferred and canceled existing data center leases in both the U.S. and Europe in the last month.  Elias first warned about Microsoft’s data center activity slowing in February.

The analyst views the pullback as being largely driven by the decision not to support incremental Open AI training workloads.

That being said, they still believe that the lease cancellations and capacity deferrals indicate an oversupply of data centers.

“As such, we believe the lease deferrals are intended to provide Microsoft with a medium-term runway of capacity in major markets to support cloud/inference workloads, with Microsoft canceling leases for capacity that exceeds its updated medium-term capacity needs,” the analyst commented.

On a positive note, Elias said that competitor Google (NASDAQ:GOOGL) is stepping in to backfill the capacity that Microsoft walked away from in international markets.  In the U.S., Meta (NASDAQ:META) is backfilling the capacity.

“The ramp in demand from Google is driven by what we increasingly believe is a global capacity shortfall as its internal demand ramped amid its late August pullback from the market (which we highlighted in September 2024) stemming from an internal initiative to increase the utilization of its existing data center fleet,” the analyst said. “ As for Meta, the demand ramp comes as it is meaningfully increasing its data center capacity in support of Llama.”

On OpenAI, the firm checks indicate that the company is increasingly securing data center capacity directly from third parties, exemplified by its deal with CoreWeave. Additionally, OpenAI has significant long-term capacity ambitions, planning multiple Stargate projects, each ranging from 800MW to 1.5GW, potentially exceeding 6GW in total. To meet these needs, OpenAI is hiring talent from other hyperscalers with expertise in design, construction, and capacity planning, suggesting a move toward self-building data centers in the medium to long term.

U.S. President Donald Trump said he will impose a 25% tariff on all foreign-made cars and light trucks on April 2, as he gears up to widen his tariff agenda on key industries and trading partners.

Shares of major U.S.-listed automakers slumped after Trump’s comments, while Wall Street also retreated.

“What we’re going to be doing is a 25% tariff on all cars that are not made in the United States... business is coming back to the United States so that they don’t have to pay tariffs... This will continue to spur growth like you haven’t seen before,” Trump said during an event at the White House on Wednesday.

Trump expects automakers worldwide to flock to the U.S. to build their cars. He also expects U.S. automakers to shift production back onto U.S. soil from countries such as Mexico and Canada.

Earlier this week, Hyundai (OTC:HYMTF) announced a $21 billion investment in the U.S., including $5.8 billion for a new steel plant in Louisiana, creating nearly 1,500 jobs. Hyundai plans to increase its U.S. production capacity by about 200,000 vehicles.

The administration said the tariffs are expected to generate $100 billion in new tariff revenue for the country. But they are expected to be borne by local importers- a scenario that could ramp up local car prices, disrupt supply chains and factor into stickier inflation.

Trump said he would ask Congress to pass a bill to make interest payments for cars made in the U.S. tax deductible.

Wall St, auto stocks slide on tariff jitters

Shares of General Motors Company (NYSE:GM), Ford Motor (NYSE:F), and Stellantis NV (NYSE:STLA) fell between 3% and 8% in aftermarket trade. Tesla Inc (NASDAQ:TSLA) steadied after falling over 5%.

Foreign automakers like Toyota Motor (NYSE:TM), Honda Motor (NYSE:HMC), and Ferrari NV (NYSE:RACE) fell anywhere from 1% to 3%.

Losses in automobile stocks came amid a broader rout on Wall Street, as investors fretted over the impact of Trump’s tariff agenda. The U.S. President is set to announce sweeping reciprocal tariffs against at least 15 countries on April 2, a date he has repeatedly touted as "liberation day."

Trump is also expected to impose tariffs on select commodity imports, and has threatened to impose tariffs on other key sectors such as semiconductors and pharmaceuticals.

But investors and policymakers- especially at the Federal Reserve- are growing increasingly concerned over the economic impact of Trump’s tariffs, especially in that they will crimp consumption and underpin inflation.

Ambar Warrick contributed to this report