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CORRECTED-Trump’s Dubai real estate companion strips his image, name from luxury golf project site

(This December 10 story has been corrected to modify spelling to “Golf” from “Gold” in paragraph 9)

DUBAI A Dubai real estate firm constructing a $ six billion golf complex with Donald Trump on Thursday stripped the property of his name and image amid a backlash more than the U.S. presidential candidate’s proposal to ban all Muslims from entering the United States.

Trump triggered an international uproar when he created his comments in response to final week’s deadly shootings in California by two Muslims who authorities said were radicalised.

DAMAC Properties had initially mentioned it would stand by Trump, even as one more of the billionaire’s Middle East partners, the Life style chain of department stores, halted sales of his “Trump Property” line on Wednesday in protest at his comments.

A spokesman for DAMAC Properties, Niall McLoughlin, declined to comment on why Trump’s image had been removed from a billboard outside the project construction site, along with that of his daughter, Ivanka Trump.

The AKOYA by DAMAC project will consist of a Trump-branded golf course, gated island neighborhood and spa. Trump is also building a second golf course, the Tiger Woods-made Trump Planet Golf Club, at one more DAMAC property in Dubai, AKOYA Oxygen.

An marketing billboard outdoors the AKOYA by DAMAC development had shown Trump in a red hat swinging a golf club against a backdrop of a lush green golf course.

By Thursday, the image had gone, a Reuters photographer stated.

An adjacent photo of Trump’s daughter Ivanka, an executive vice president for his Trump Organization firm, was also removed from the billboard.

Gold letters spelling out “Trump International Golf Club,” affixed to a landscaped stone wall at the entrance to the project website, had been also removed later in the day, according to the Reuters photographer.

Trump on Thursday postponed a planned trip to Israel amid the global backlash more than his proposal. Israeli politicians and much more than 370,000 Britons urged their governments on Wednesday to bar Donald Trump from their countries.

(Reporting by Matt Smith Writing by Katie Paul Editing by Sami Aboudi and Raissa Kasolowsky)

REFILE-UPDATE 1-DoubleLine’s Gundlach says ‘real carnage’ in junk bonds ahead of Fed

NEW YORK Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, stated on a webcast on Tuesday that the junk bond market has come below severe selling pressure ahead of the Federal Reserve’s policy meeting subsequent week.

“We are seeking at true carnage in the junk bond industry,” Gundlach stated. Gundlach also mentioned it was as well early to acquire higher-yield junk bonds and energy debt securities. “I don’t like items when they go down every single day.”

Gundlach, who has been warning that the U.S. Federal Reserve must not tighten monetary policy in December, cited a number of other asset classes that are signaling deteriorating conditions. The commodities market has been facing monstrous declines with copper rates, as an example, down 37 % since July 2014 while “the breadth of the equity industry could be the worst ever.” Gundlach characterized commodities as the “widow maker” of the markets.

General, Gundlach stated it is “unthinkable” to raise prices with junk bonds and leveraged loans struggling so a lot.

Higher Yield bonds rated CCC are at the moment at multi-year lows, down a lot more than 20 percent from their peak in June 2014.

In spite of soft development in the U.S. and weakening international development, the Fed is “hell bent” on raising interest prices since it has said in numerous speeches that it would do so, Gundlach says. “It’s feasible the Fed pulls another Lucy and the football,” Gundlach said, referring to Peanuts character Lucy yanking a football away from Charlie Brown.

Gundlach stated market place turmoil would be the primary element that delays a hike by the Fed subsequent week, its initial in nearly a decade. “If the Fed hikes, it will be a different world,” he added.

The Fed could end up searching like Sweden’s Riksbank, which hiked back in 2010 and 2011 only to have to swiftly reverse and speedily slash prices, Gundlach mentioned. The Fed “philosophically” wants to raise interest rates and will use “selectively back-tested evidence” to justify an enhance in prices, he added.

Los Angeles-primarily based DoubleLine Capital oversees $ 80 billion in assets beneath management. The DoubleLine Total Return Fund is posting returns of 2.53 % so far this year, beating 99 % of its category. The DoubleLine Core Fixed Earnings Fund is posting returns of 1.47 percent, surpassing 92 % of its category. Both funds are overseen by Gundlach.

(This version of the story was refiled to show Peanuts is suitable name in 6th paragraph)

(Reporting by Jennifer Ablan Editing by James Dalgleish and Diane Craft)