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MLB standoff continues after players send 70-game counteroffer to owners
World

MLB standoff continues after players send 70-game counteroffer to owners

Executive Director of the Major League Baseball Players Association Tony Clark on February 19, 2020 at Clover Park in Port St. Lucie, Florida. The Major League Baseball Players Association has countered a proposal by club owners to start the 2020 regular season suspended by Covid-19. MLBPA executive director Tony Clark said players issued a 70-game proposal, up from 60 games offered by the MLB. Clark also said the union's plan includes "a number of issues, (including) expanded playoffs for both 2020 and 2021. We believe this offer represents the basis for an agreement on resumption of play," Clark said in a statement. According to The Associated Press, the two sides remain more than $200 million apart on a deal that would offer $1 billion in salaries and include postseason pool pay. Clu...
Wirecard ex-boss Braun arrested as creditors hunt lost billions
World

Wirecard ex-boss Braun arrested as creditors hunt lost billions

Wirecard's former boss has been arrested on suspicion of falsifying its accounts, after the German payments firm disclosed a US$2.1 billion financial hole and questioned whether trustees had actually held money on its behalf. MUNICH/FRANKFURT: Wirecard's former boss has been arrested on suspicion of falsifying its accounts, after the German payments firm disclosed a US$2.1 billion financial hole and questioned whether trustees had actually held money on its behalf. Markus Braun turned himself in on Monday night after Munich prosecutors issued a warrant for his arrest. A judge ruled on Tuesday that the 50-year-old Austrian could be released as soon as he posts 5 million euros (US$5.7 million) in bail. Germany's financial regulator also filed a fresh complaint against Wirecard with th...
Commentary: Why are Chinese officials acting like Internet trolls and entertaining online fights with the US?
Singapore, World

Commentary: Why are Chinese officials acting like Internet trolls and entertaining online fights with the US?

A heated exchange of words is unhelpful when the superpowers need each other, especially in view of the economic downturn exacerbated by the pandemic this year, says Yew Chiew Ping. SINGAPORE: As protests over the police killing of George Floyd raged in the US, the chaotic scenes of fire and tear gas called to mind the anti-extradition bill protests in Hong Kong which started a year ago. China’s pent-up anger at US support of the Hong Kong protests found a release, as its diplomats jumped on the opportunity to conflate the two protests and accuse the US of hypocrisy and double standards. Chinese Foreign Ministry spokesman Zhao Lijian questioned the US’ reference to those Hong Kong protesters as heroes while labeling American protesters thugs. In late May, when the US State Departme...
RCEP members to keep aiming for deal this year, with hopes India will rejoin
Singapore, World

RCEP members to keep aiming for deal this year, with hopes India will rejoin

Ministers from 15 Asia-Pacific countries negotiating a sprawling free trade agreement agreed Tuesday to continue aiming for a deal by the end of the year, while keeping the door open for India to return to the talks. “We believe that India’s participation in (the Regional Comprehensive Economic Partnership) would contribute to the advancement and prosperity of the region. We therefore wish to emphasize that the RCEP remains open for India,” the ministers said in a joint statement following a videoconference. The 10 members of the Association of Southeast Asian Nations along with China, Japan, South Korea, Australia and New Zealand said last November that they had concluded the bulk of negotiations. But India, which is concerned that opening up its market would cause its trade deficit wi...
US Treasury agrees on loan terms with American, four other airlines
USA, World

US Treasury agrees on loan terms with American, four other airlines

The U.S. Treasury said on Thursday it has agreed on terms for government loans with five U.S. carriers, including American Airlines Group Inc . WASHINGTON: The U.S. Treasury said on Thursday it has agreed on terms for government loans with five U.S. carriers, including American Airlines Group Inc . The Treasury said it had signed letters of intent with American, Frontier Airlines, Hawaiian Airlines , SkyWest Airlines , and Spirit Airlines under a US$25 billion emergency loan program created by Congress in March. American said in April it expected to apply for a loan from the U.S. Treasury of approximately US$4.75 billion on top of US$5.8 billion in payroll assistance. Treasury separately awarded airlines US$25 billion in payroll assistance bailouts with most of the aid in the form ...
China says it must improve hygiene in markets after Beijing COVID-19 outbreak
Market, World

China says it must improve hygiene in markets after Beijing COVID-19 outbreak

SHANGHAI: Low standards of hygiene in China's wholesale food markets and vulnerabilities in its food supply chain need to be urgently addressed after a new COVID-19 outbreak in Beijing, a leading body of the ruling Communist Party said. The resurgence of COVID-19 in the country's capital over the past week, infecting more than 100 people and raising fears of wider contagion, has been linked to the city's massive Xinfadi food centre. The Communist Party's top disciplinary body said the outbreak underlined the urgent need to improve sanitation standards and minimise health risks at markets. "The epidemic is a mirror that not only reflects the dirty and messy aspects of wholesale markets but also their low-level management conditions," the Central Commission for Discipline Inspection (...
India’s appeasement policy toward China unravels
World

India’s appeasement policy toward China unravels

Indian Prime Minister Narendra Modi is “not in a good mood,” U.S. President Donald Trump recently declared, as he offered to mediate India’s resurgent border conflict with China. After years of bending over backward to appease China, Modi has received yet another Chinese encroachment on Indian territory. Will this be enough to persuade him to change his approach? While India was preoccupied with the COVID-19 crisis, China was apparently planning its next attempt to change the region’s territorial status quo by force. Last month’s swift and well-coordinated incursions by People’s Liberation Army troops into the icy borderlands of India’s Ladakh region were likely the product of months of preparation. The PLA has now established heavily fortified camps in the areas it infiltrated, in additi...
Stocks wobble as investors assess risks of second wave
China, World

Stocks wobble as investors assess risks of second wave

Asian stocks were set for gains on Friday although trade was likely to be choppy after a mixed Wall Street session with investor focus swinging between concerns about a second pandemic wave and more upbeat hopes about an economic recovery. TOKYO/WASHINGTON: Asian shares and U.S. stock futures teetered in choppy trade on Friday as lingering concerns about an fresh spike in coronavirus cases offset growing hopes for a quick economic recovery. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1per cent. U.S. S&P 500 e-minis moved in and out of the red, and were last up 0.21per cent. Shares in China rose 1.15per cent, led by gains in financials and the health care sector, but South Korean stocks fell 0.25per cent due to concern about diplomatic tension with North Korea. ...
Looters target Myanmar temple treasures in tourist slump
World

Looters target Myanmar temple treasures in tourist slump

BAGAN, Myanmar: A squad of armed police patrol Myanmar's sacred site of Bagan under the cover of night, taking on plunderers snatching relics from temples forsaken by tourists due to coronavirus restrictions. Each evening as dusk falls, about 100 officers fan out across the plain of Bagan measuring 50 sq km, sweeping torches over the crumbling monuments to scour for intruders. "Our security forces are patrolling day and night," Police Lieutenant Colonel Sein Win tells AFP. "We have it under control for the moment, but it's a challenge." The central Myanmar city is strewn with more than 3,500 ancient monuments – stupas, temples, murals and sculptures – and was finally added to the prestigious United Nations Educational, Scientific and Cultural Organisation (UNESCO) World Heritage Li...
Exclusive: Boeing 737 MAX development marred by design, communications flaws – US IG report
World

Exclusive: Boeing 737 MAX development marred by design, communications flaws – US IG report

Boeing Co failed to submit certification documents to the U.S. Federal Aviation Administration (FAA) detailing changes to a key flight control system faulted in two fatal crashes, a long-awaited government report seen by Reuters has found. WASHINGTON/SEATTLE/CHICAGO: Boeing Co failed to submit certification documents to the U.S. Federal Aviation Administration (FAA) detailing changes to a key flight control system faulted in two fatal crashes, a long-awaited government report seen by Reuters has found. The flight control system, known as MCAS, was "not an area of emphasis" because Boeing presented it to the FAA as a modification of the jet's existing speed trim system, with limited range and use, according to the report. The 52-page report by the U.S. Department of Transportation's ...