World

U.S. Navy multirole fighter landing on the flight deck of USS Ronald Reagan (CVN-76) aircraft carrier as it sails in South China Sea Oct. 16, 2019. Catherine Lai | AFP | Getty Images The U.S. Navy exercise in the disputed South China Sea over the weekend was about "showing the flag" and sending a message to the region, an expert told CNBC this week. Two U.S. aircraft carriers conducted operations and exercises in the contested waters on the Fourth of July "in support of a free and open Indo-Pacific," the Navy said in a statement. Beijing also carried out military training in the South China Sea from July 1 to July 5. "The U.S. wants to send a message that it's not backing down, and that it's still able to do this," said Gregory Poling of the Center for Strategic and International Studies....

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'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...

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...