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Police reform: Democrats offer sweeping bill to reform police

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Police reform: Democrats offer sweeping bill to reform police

Legislation – led by Congressman Black Caucasus, Democrats on the Parliamentary Committee on Justice and Democrats Sens. New Jersey-based California-based Kamala Harris and Cory Booker – comes as the country recovers from the recent deaths of several black Americans at the hands of police, including George Floyd, who died in Minneapolis last month after a white police officer strangled him in the neck. for more than eight minutes.

“People are watching the birth of a new movement in our country,” Black Caucasian Congress President Karen Bass told a news conference Monday that Democrats had officially unveiled the legislation.

House Speaker Nancy Pelosi said Congress “can do nothing less than transformative structural change.” But the proposal, which has yet to be co-sponsored by Republicans, will need bilateral support to succeed through the Senate.

Legislation is the most extensive effort in recent years to crack down on federal police practices in the United States, but it is expected to face strong resistance from Republicans, police unions and local officials who do not want Washington to interfere in their political construction.

“This is a strong movement and it has created such legislation that it was probably impossible to do a month ago,” Booker told CNN in an interview on Sunday.

According to a brief document obtained by CNN, the legislation includes a ban on chokeholds, as well as the creation of a National Police Register to prevent a change of jurisdiction for employees.

The bill also encourages states and territories to impose racial prejudice education and to teach officers about their “duty to intervene.” The bill places some restrictions on the transfer of military equipment to state and local law enforcement authorities and requires federal police bids to wear body cameras.

It also includes anti-lynching legislation that has weakened the Senate. The anti-lynching bill sparked an emotional debate in the Senate last week when Republican Sen. Rand Paul of Kentucky tried to amend legislation that he said was too broad. Sens. Harris and Booker opposed the move, as Floyd’s memory service was running thousands of miles away.

“It was just unfortunate that he would do it that day. It was unnecessary and honestly very painful for a lot of people,” Booker said.

Legislative initiative is only the beginning of Congress’ action. On Wednesday, the Parliamentary Committee on Justice will hold a hearing on policing and oversight. Floyd’s brother, Philonise Floyd, is expected to testify, according to a committee aide.

Legislative efforts are coming as protests against police brutality and racial justice have erupted across the country, both in major cities and in rural communities. Over the weekend, thousands of protesters in Washington, DC, gathered at the National Mall. Rallies, rallies and protests made headlines in rural Montana on the streets of Portland, Maine.

“So many Americans have taken to the streets across the country. Black, white, Latino, Asian, young, old, gay, straight, citizens, dreamers – people across the spectrum of the beautiful mosaic of the American people say it’s enough Enough, and Congress must hear these cries and act on them That’s what the Democrats are trying to do, “said Hakeem Jeffries, a New York Democratic spokesman for Dana Bass, on CNN’s Inside Politics on Sunday.
Democrats are unveiling their police legislation at a time when some left-wing activists are calling for greater efforts to weaken the police. Some liberal lawmakers have voiced support for the movement, while others have offered more careful approaches to funding.

Pelosi did not respond immediately when asked on Monday if she supported local moves to remove the police.

“The fact is that we have a lot of legislation coming down on the lottery that addresses some of the concerns of our communities across the country,” Pelosi said. He suggested that people should have these discussions locally.

“This is a local decision,” he said, but “that does not mean we will raise more money to further militarize the police.”

DC mayor says federal response to protests has led larger groups to participate peacefully

Republicans have not yet shown the embrace of the democratic police legislation introduced on Monday. While Republican Sen. Lindsey Graham of South Carolina, chairwoman of the Senate Judiciary Committee, announced last week that she would hold a hearing on police violence on June 16, many Republicans in the Senate argued that Congressional citizens should not be nationalized. that instead, states and regions must take their own action.

“This is a kind of classic Washington. You have an individual and tragic event and people are prolonging it and suggesting that this problem is an epidemic. And I think it was as terrible as what happened to Mr. Floyd and as much as he and his family deserve it. Justice, you can’t paint with such a big brush and condemn the imposition of the law and say it’s a systematic failure, “said Sen. John Cornyn, a Republican from Texas.” The idea that Congress should suddenly put in anticipation of the public health crisis, which, incidentally, will not remain pending … to address this is simply, I think, hysteria. “

Republican Sen. Roy Blunt of Missouri said he did not believe it was possible to reach a nationalized, legislative response to policing.

“I don’t think you can find a national, enforceable answer about behavior or practice, nor do I think you can find a national manual that really makes sense to departments,” he told CNN last week.

Jeffries rejected the Republicans’ view that Congress should remain on the sidelines.

“Some of my colleagues on the other side of the aisle, on the other side of the Capitol, want to keep burying their heads in the sand,” Jeffries said.

“As for the police officers I deal with here in New York, the vast majority are good people who are hardworking and in the community for protection and service, but we can’t deny that we have too many brutal officers. … We have to deal with that. That’s why so many Americans are taking to the streets across the country. “

Parliamentary Attorney General Jerry Nantler said he wanted to vote on the committee just next week.

Senate Majority Leader Chuck Sumer said Monday that Republicans will “fight like hell to make it a reality” and will vote on legislation to reform the Senate police, addressing the Senate Majority Leader directly. McConnell.

“Collectively, all Americans must raise our voices and ask leader McConnell to put this reform bill on the floor of the Senate before July to be discussed and voted on,” he said, adding, “Leader McConnell, let We’re talking, not just on TV and Twitter, but on the floor of the United States Senate. “

CNN’s Clare Foran and Haley Byrd contributed to this report.

New York Coronavirus: NYC comes out of the lock but enters a new crisis

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New York Coronavirus: NYC comes out of the lock but enters a new crisis

Now, New York and cities across the country have to deal with a combination of corona, huge unemployment and systematic racism – a toxic trinity that hurts black communities more deeply.

As soon as the center of the pandemic becomes the largest and densest city in the United States, New York enters phase one Monday’s restart plan, allowing non-essential construction and manufacturing workers to return to work and retail stores to create a reservation or receipt at the store.

“This is a triumphant moment for New Yorkers who have counterattacked against the disease,” said Mayor Bill de Blasio. “My message is to stick to it.”

However, hairdressers, offices and interiors in bars and restaurants remain out of bounds until the next opening phase. And Broadway shows, museums and big cultural gatherings are a long way off.

New York has come a long way since March.

In the state, more than 377,000 people signed the Covid-19 and more than 30,000 died from it, the largest among all states in total numbers and per capita rates, according to Johns Hopkins University data. More than 21,000 of those deaths, or about two-thirds, were in New York.

The 78-day lock represents the largest in the country and comes weeks after other parts of the state meet the necessary criteria to reopen.

Cranial public health crises and racism

The resumption opens after the destruction of corona throughout the city, especially in neighborhoods of black and brown people. Now, after months of staying at home, with almost universal mask wear and extensive availability of tests, New York will be taking its first step toward some smoothness.

“Look what we did. Straighten the curve? Forget to straighten the curve … I bent the curve,” said Governor Andrew Cuomo on Sunday. “We are curves, if there is such a thing.”

In New York, blacks / Africans-Americans and Hispanics / Latinos have died of corona at twice the rate of whites, according to city data.

David Williams, a professor of public health and African-American studies at Harvard University, said Covid-19 was the latest disease to disproportionately affect minority communities.

“It’s not a new pattern,” he said. “It’s just that the Covid-19 shed a lot of light on a pattern that has been around for a long time, and we haven’t done as much as we could to make a difference.”

Health experts have expressed concern that a number of anti-racism demonstrations – a public health issue – could lead to a new increase in corona cases.

“While everyone is worried about the risk of Covid, there is a risk of being black in this country that is almost sometimes overcrowded,” said Dr. Abby Hussein, an infectious disease at the University of Washington. “And the sad part is that the group that is protesting for their rights is the same people who have already been disproportionately affected by the disease.”

More than 500 deaths a day at their peak

Protesters wear masks as they denounce systemic racism and police killings of black Americans in Washington Square Park in the municipality of Manhattan on June 6, 2020 in New York.
Cuomo ordered non-essential workers to stay home from work on March 22, as the corona cases were in the midst of a rapid, exponential growth that flooded hospitals. But his and De Blasio’s delayed actions came too late to avoid a sharp rise in the densest and most densely populated city in America.

The wave meant that patients were being treated in the corridors, nurses and doctors were missing from personal protective equipment, funerals were left out of space and hospitals were being set up at Central Park, the Javits Conference Center and the USS Comfort Hospital ship.

Because New York is the epicenter of the American coronavirus epidemic
At its peak in early April, more than 500 people died daily in New York from the virus. Home stay orders and the mass termination of public life reduced this number, but at a disappointingly slow pace.

Since then, the death toll and hospitalization rates have shrunk and the space in the hospital bed and the ability to detect contacts and contacts is high enough for New York to be able to reopen Phase 1.

As of Sunday, New York’s hospitals have received 72 people due to Covid-19, 324 people remain in the ICU and 4% of the city is currently positive for Covid-19, de Blasio said.

Across the state, 35 people died from Covid-19 on Saturday and 45 died on Sunday, Cuomo said.

“Compared to where we were, that’s a big relief,” he said.

To celebrate these declining trends, landmarks across the state of New York had to light blue and gold on Sunday night, Cuomo said.

Views of the words “New York Tough” will also appear across the state, Cuomo said.

As office workers across the state begin to return to work, Cuomo said he would also sign an executive order allowing commercial buildings to take the temperature of incoming people.

“We give commercial buildings the right to take the temperature of everyone who enters a building. It’s not just your health, it’s the people you could infect,” Cuomo said.

CNN’s Laura Ly, Mallory Simon and Elizabeth Joseph’s report contributed to this report.

The artist Toyn Onikh Odutola painted intricate portraits of black life

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The artist Toyn Onikh Odutola painted intricate portraits of black life

Written by Jacqui Palumbo, CNN

Nigerian-American artist Toyn Onikh Odutola is known for his rich textured portraits of black life, layered with intricate pens, charcoal and pastels.

Born in 1985, Oji Odutola is essentially a storyteller, influenced by the storytelling traditions of her childhood. Her 2017 show at the Whitney Museum, her first solo exhibition in New York, unfolded a dual, interconnected story of two fictional aristocratic families in Nigeria.

Most recently, when the Barbican Center in London closed due to Covid-19 restrictions in March, it was just days before its first exhibition in the UK, “Equalization theory, “was opened. Now, with the postponement of the show, Ojih Odutola has prepared a virtual exhibition for the Jack Shainman Gallery in New York,”Tell me a story, I don’t care if it’s true, “Made mostly from works created while the artist was at home for the past few months.

Ojih Odutola presents a new work, made during the lock, at a virtual show for the Jack Shainman Gallery in New York. Credit: Toyin Ojih Odutola

Her still-spotted Barbican exhibition focuses on the creation of myths and features 40 drawings based on an ancient legend set in Nigeria that the artist imagined. Meanwhile, her more intimate virtual show about Jack Sheiman focuses on lonely, free-flowing stories told through images and text.

Here, Ojih Odutola discusses the two exhibitions, his rich study of black identity and how art can be a balm and space for an agency in times of crisis.

Ojih Odutola's 2017 show in Whitney, New York, helped raise her international profile.

Ojih Odutola’s 2017 show in Whitney, New York, helped raise her international profile. Credit: Beth Wilkinson / Toyin Ojih Odutola

CNN: Can you see us through what Yours What will the Barbican show look like when it is unveiled?

Toyin Ojih Odutola: Some pieces are seven feet high and some are really, really small. It’s all based on a myth I wrote last year involving an ancient civilization and set on a plateau in the state of Nigeria. It was necessary for me to delve into the visual narrative in a way that is engaging and different and I felt very present.

These drawings are in every drawing and may look like a decorative motif, but in fact the system is working. When you see a picture full of these lines, you see a system that is not spoken, not seen, but is everywhere in the world of these signs. It affects and influences them, but they do not recognize it,, It’s just there. So, of course, it affects everything.

(The exhibition) deals with gender, power, hierarchies, oppression and imperialism in a way that, I hope, once revealed, is very subtle and nuanced and speaks to the insidious nature of systemic oppression.

The Barbican show enabled Ojih Odutola to work on an ambitious scale, mixing large-scale and intimate monochrome works based on an imaginary ancient myth.

The Barbican show enabled Ojih Odutola to work on an ambitious scale, mixing large-scale and intimate monochrome works based on an imaginary ancient myth. Credit: Toyin Ojih Odutola / Barbican

How did your new virtual exhibition “Tell me a story, I don’t care if it’s true” come about?

The title of the show came to me in February before the block. It was something that felt right and applicable to the times. This is a series of diptychs, independent drawings and independent textual works. These are stories that came to my mind, which was completely new to me because I tend to plan a lot of things. This show was much more introspective.

These stories are anecdotal; they are insulated vignettes. There is not too much context, but just enough information to understand. There is a conversation between the image and the text. In one you meet a figure leaning on a sofa and you can have your own ideas about what this figure thinks – the inside of this moment. Then read the text and go back and forth between the two and form your own meaning.

The spectator activity is an activity. Take a little, go crazy. I hope this is a way to question what you see and read.

Which oral or written traditions related to the myths have influenced you?

I grew up in a household where the speaker was the means. Gathering and hearing someone tell a story is a huge part of Nigerian culture. I also grew up in a house with two incredibly funny parents who like to tell stories about anything. I have always appreciated it. And it wasn’t until I was much older that I realized how valuable it was to have that experience and to have access to it.

When I first started my career, I was just drawing figures and I wasn’t really thinking about a story. But there is a wealth of knowledge that I already have in my own personal history and experience – and I can apply it to a visual story and really help people see the possibilities of figurative work.

Ojih Odutola presents a new work, made during the lock, at a virtual show for the Jack Shainman Gallery in New York.

Ojih Odutola presents a new work, made during the lock, at a virtual show for the Jack Shainman Gallery in New York. Credit: Toyin Ojih Odutola

I am strongly influenced by comics and animation. For the Barbican show, engaging in epic mythology was my way of being completely free and creating something from scratch. Unlike “Tell me a story, I don’t care if it’s true”, there is no text (in the Barbican show) – there is no publication for the audience and everything is extraterrestrial and strange. But what I hope is that as they go through this space, they begin to adapt to my visual language.

You often explore the texture and importance of skin in your work. How has this developed with your practice?

Initially, I wanted to come up with a way to visually translate the feeling of the skin. I use wired lines; it’s very layered and I mostly worked with ballpoint pen ink. And then I started to include other drawing materials like charcoal and pastel, and now, more likely, colored pencil and graphite.

Ojih Odutola compares black skin to water, calling it

Ojih Odutola compares black skin to water, calling it “a living surface, a terrain … a place where so much beauty and positivity spreads.” Credit: Toyin Ojih Odutola / Barbican

When I think about the surface of the skin, I think about the work of multimedia artist Ronnie Horn, who uses water as a metaphor for a surface that is ambiguous and constantly changing. I think of the skin in a very similar light. The skin is terrain. This is a landscape on which you project meanings. It has a story.

When I look at black skin, I think of it as a living surface – terrain, construction, projection, but also a place where so much beauty and positivity spreads. It includes so much and holds so much.

After George Floyd’s death, there was so much talk about the black trauma, the images of black people in the media, and how those images spread. How do you think art can play a role at this point?

There is a lot of noise – images can be noisy. But with art it is only you and this work. You are in dialogue with him and there is no right or wrong way to get involved. Art gives people the opportunity to be still, to think and absorb this moment and to try to understand it.

Ojih Odutola wants her art to provide a space through which viewers can reflect and come to their own interpretations.

Ojih Odutola wants her art to provide a space through which viewers can reflect and come to their own interpretations. Credit: Toyin Ojih Odutola

I made a pact with myself, as an image maker, that if I were to contribute images to the multitude of those available on the Internet, I would not show black pain, death or trauma.

This is my choice. And if you’re an artist who does these things, fine. I’m not saying it’s right or wrong, but it’s very important to me to provide images and texts that give people something else to engage with, because we already know that trauma and pain are a sad and unfortunate thing that connects black people worldwide.

Blacks are catalysts. In every society of which we have been a part, our culture has left an indelible mark. This is not accidental. That is why we should not always think that we come from a place of absence, that we are powerless. I am not saying that these are not realities. But it is not how we should read each other as a community, as a collective (s) as a diverse, brilliant diaspora.

And as someone who is part of the diaspora, I want to give people space to engage with potential, to engage with our capabilities. Yes, they are afraid of us because they do not know what we are capable of. But we we must not be afraid of what we are capable of.

Hearse carrying George Floyd’s body arrives at the Houston church

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live news
The moon is visible behind the Fountain of Praise church, where services will be held for George Floyd on June 8, 2020 in Houston, Texas. Democrats vowed on June 7, 2020, to crack down on legislation to combat systematic racism in enforcing U.S. law as the battle for change sparked by the assassination of police officer George Floyd began to shift from the streets to politics. Protests continued across the country on Sunday – including in Washington, New York and Florida’s Winter Park – as protesters began to focus their initial outrage at the death of unarmed Floyd on demands for police reform and social justice. (Photo: Johannes EISELE / AFP) (Photo by JOHANNES EISELE / AFP via Getty Images) Johannes Eisele / AFP / Getty Images

Houston officials are expecting thousands of mourners during today’s visit George Floyd, whose death at the Minneapolis police station sparked protests around the United States and around the world.

Floyd will be buried in Houston next to his mother, according to Fort Bend Monument Design Center.

The public is invited to attend the visit from noon to 6 p.m. local time, said La’Torria Lemon, a spokesman for the funeral.

“We expect about 10,000 and that’s what we’re preparing,” he said.

To comply with the rules of social distance, 15 people will be allowed each time in The Fountain of Praise. Guests will have the right to stay within no more than 10 minutes after the body is displayed. Guests must wear a mask and gloves and casual attire is allowed.

Floyd’s connection to Houston: Floyd, 46, grew up in the city’s Third Field. He graduated from Jack Yates High School in 1992, where he helped the football team win the state title. He also played basketball there, Lemoni said.

Before moving to Minneapolis, Floyd was known on the Houston music scene, rap with a band called Screwed Up Clik (SUC).

Floyd’s body is already in Houston, according to Houston Police Chief Art Acevedo.

“#GeorgeFloyd and his family are safe in Houston,” he wrote on Twitter on Sunday.

It was “a big deal for our city to bring him back home,” Acevedo said. “He is known, he is known to many of our officers. We want to ensure that the family is safe, that the movement is safe. We want to make sure the family knows we are here for them and we support them right now.”

Chinese companies facing retreat in the United States may seek asylum in Hong Kong

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Chinese companies facing retreat in the United States may seek asylum in Hong Kong

NetEase has attributed its decision in part to the need for more funding, which it wants to use to expand its business. But it also became clear that he said the United States was becoming increasingly hostile to Chinese companies as regulators and lawmakers considered new rules that would lead to tighter controls. Some restrictions would even make it difficult for companies to publish publicly or continue trading in New York.

The entry into force of such rules “may lead to investor uncertainty for the issuers concerned, including us, the market price of our [US shares] it may be adversely affected and we may be deactivated if we are unable to “meet the requirements,” NetEase wrote in a listing on the Hong Kong Stock Exchange.

NetEase’s recognition is a sign of how much relations between the United States and China have deteriorated – and how much they are at risk for Chinese companies that are not developing a viable backup plan.

Other companies are also considering Hong Kong

“China’s technology giants see Hong Kong as a middle ground,” said Brock Silver, chief investment officer of Hong Kong-based Adamas Asset Management.

He added that the city was “under Chinese control, but still with access to US dollars.” Unlike mainland China, where there are strict restrictions on capital entering and leaving the country, Hong Kong allows capital to flow more openly. The city’s currency is also freely convertible.

NetEase is also not the last company to look at Hong Kong. About 37 Chinese companies are eligible to do so, according to data provider Refinitiv, based on their market cap, revenue and ability to comply.

At least a handful of companies that trade in New York seem to be already considering it. E-commerce company JD.com (JD) has received approval from the Hong Kong Stock Exchange for a secondary stock in Hong Kong and has released a prospectus, which was published on Friday. Bloomberg reported that the company may start trading as early as this month. Technical companies Baidu (BIDU) and Trip.com (TCOM) may consider similar plans according to various Chinese media reports.

Baidu and Trip.com declined to comment. But Baidu founder and chairman Robin recently suggested that his business could move to Hong Kong if necessary.

“We are really paying close attention to the US government’s tightening regulations on Chinese companies,” Li told the state-run China Daily last month“We are discussing internally what we can do to deal with it, including a secondary list in Hong Kong.”

Developing motives

New York has long been an attractive option for foreign companies to go public. Wall Street boasts the world’s largest stock exchanges and the opportunity to get involved huge amounts of investment capitalFor Chinese companies, the New York list also gave them the opportunity to avoid strict IPO rules in China, including a ban on companies with certain types of joint stock companies.

But Beijing has eased some of those restrictions in recent years as part of efforts to get Chinese companies to go home. The country is trying to improve its position as a major technological superpower, and the closer some of its most valuable companies are, the more influence the government can have on them.

Arriving at Alibaba's home is a pleasure from China and buying trade war insurance
The desire to impress Beijing was widely quoted as a big reason for Alibaba’s decision to join Hong Kong last fall – although analysts also cited tensions between the US and China and the need to reduce political risks as a significant factor.

“The political reckoning that drives Chinese US technology companies to seek secondary listings was initially Beijing’s desire to put those companies under its bureaucratic control,” Silver said. “But it develops in the light of the trade war and its subsequent separation.”

It is not entirely clear how quickly potential new rules in the United States could cause problems for Chinese companies trading in New York. It envisages, for example, a bill that has not yet passed the US House of Representatives force these companies to open their books for U.S. regulators, a condition opposed to Beijing that requires companies that trade abroad to have their audit documents in mainland China, where they cannot be reviewed by foreign agencies.

But the bill would force these companies to be repealed only if they could not be audited for three consecutive years, according to analysts at Goldman Sachs.

However, even the potential for tighter regulatory scrutiny “could accelerate their trend towards double listing in the EU [Hong Kong] market, “Goldman analysts wrote in a recent report.

The pressure also comes from the Trump administration. Secretary of State Mike Pompeo praised the Nasdaq on Thursday for proposing new compliance rules that could affect Chinese companies, adding that other exchanges should consider similar provisions.

“American investors should not be exposed to hidden and unjustified risks associated with companies that do not follow the same rules as American companies,” Pompeo said in a statement“The action of the Nasdaq should serve as a model for other exchanges in the United States and around the world.”

And President Donald Trump has given authorities 60 days to recommend steps that regulators need to take to curb Chinese companies that do not comply with U.S. audit rules.

“It is wrong and dangerous for China to take advantage of our capital markets without taking into account the critical protections that investors in these markets rightly expect and deserve,” he wrote. in a memorandum published on thursday,,

The pros and cons of Hong Kong

A wave of secondary listings could bring great benefits to Hong Kong’s financial markets, where long-term stability has been threatened since last year. anti-government protests, further encroachment by Beijing and escalating tensions between the United States and China.
The United States may end its special relationship with Hong Kong. But for Western companies, this is complicated
For example, analysts at Jefferies recently suggested that the Asian financial hub is the benchmark. Hang Seng Index (HSI) eventually there will be a “complete transformation” as more Chinese internet companies list in Hong Kong, removing more city-oriented stocks such as banks and real estate companies. Such an “emigration enumeration” could add nearly $ 560 billion to Hong Kong’s market capitalization and raise $ 28 billion in capital.
In a recent study note, Jefferies analysts compared Dow Jones Industrial Average (INDU) to Hang Seng, saying that the New York index exceeded the Hong Kong index due to its desire to replace “stagnant” companies with “successful, high-growth” ones.

“We believe in [Hang Seng] over the next few years, it will undergo a similar change and become an index that mainly reflects the growth of new economic companies in China, “they wrote.

After all, Alibaba has been a major success story for the city. The company’s Hong Kong-listed shares have jumped 19% since they began trading last November.

“Other companies are following suit,” said Hong Hao, managing director and head of research at Bank of Communications International in Hong Kong. “It pays to have a plan B.”

Trade in Hong Kong is not without risk. The city has become a lightning bolt in the Washington-Beijing confrontation: Trump said last week that the United States wants to end its special economic and trade relations with Hong Kong, which could jeopardize the city’s status as a center for international business.

However, Trump’s statement does not include specific sanctions related to the financial sector in Hong Kong. And pegging the Hong Kong dollar to the US dollar seems safe for now: City officials have convinced investors this week that they have enough reserves to keep the bulb, which keeps the city’s currency trading close and stable.

BP will cut 10,000 jobs after falling oil prices

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BP will cut 10,000 jobs after falling oil prices

CEO Bernard Looney told workers Monday that the oil giant would cut its global workforce by almost 15% this year. Most cuts will affect office jobs.

The company said in February that it would reorganize its business to succeed net zero emissions until 2050 or earlier. The corona pandemic, which caused oil prices to fall as people hunted at home, only accelerated the need to reduce costs, Looney said.

Brent crude futures contracts, the global benchmark for oil prices, reached their lowest level in decades in April, falling below $ 20 a barrel. Since then, more than $ 42 per barrel has been returned and traded. But that’s even much lower than where prices started that year.

“Oil prices have fallen well below the level we need to make a profit,” said Looney, who took over BP’s top job earlier this year in an email to employees. “We’re spending a lot, a lot more than we’re doing – I’m talking millions of dollars every day.”

The BP also announced that senior leaders would not receive a pay rise until March 2021. It was also “very unlikely” that they would pay cash bonuses for 2020, the company added.

The company has so far resisted pressure to cut payments to shareholders, despite a $ 6 billion increase in its net debt in the first quarter. The board said it would reconsider whether it could pay dividends on a quarterly basis.

– Chris Liakos contributed to the report.

People are saving more than ever. Here’s where to put your emergency money

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Another 2.1 million Americans file for unemployment benefits

The most personal savings rate – the amount that people save as a percentage of their disposable income – jumped to 33% in April. The month was around 8%, but then reported up to 13% in March before jumping in April, according to new data from the U.S. Bureau of Economic Analysis. This is by far the highest savings rate recorded since the BEA began tracking it in 1959.

The accumulation of money is largely due to the pandemic, which has done people are wary of their health and finances and have retained many of their usual spending habits, said Ken Tumin, a banking expert at DepositAccounts.com, a bank account comparison site.

Here’s what to keep in mind when looking for a place to store your emergency savings.

Traditional savings accounts

Interest rates on savings accounts have been declining since last summer. And then they fell even lower in March after the Federal Reserve cut percentage of federal funds in an emergency as the coronavirus epidemic caught.
The most average for the country the percentage on all savings accounts this week was 0.06% annual percentage yield or APY, according to FDIC, The big banks, like chase,, Wales Fargo or Bank of America offer savings accounts closer to 0.01%. Some premium accounts may be slightly higher.

That’s not much of a return. But for many savers in this ultra-low environment, the benefit that traditional savings accounts offer is convenience.

Although both traditional and online savings accounts are FDIC insured, the availability of branches in traditional banks makes it easier to do things like cash – something that is harder to do with online savings accounts.

But large banks tend to charge higher monthly fees.

And those fees can be added, said Stephen Chow, a certified financial planner at Know Your Worth Financial in Tempe, Arizona.

“The interest rate difference in this environment will not exceed the cost of a few fees,” Chow said.

Online savings accounts

To earn a higher rate of return while maintaining easy access and security, online savings accounts are one of the best places for your money, Tumin said. Companies like Ally Bank,, Vio Bank,, Nationwide from Axos Bank,, Synchronous bank or Marcus of Goldman Sachs, often have lower overheads than large banks and will offer higher prices to attract customers.

“They are FDIC insured and you can keep your existing check account,” he said.

Rates for online savings accounts have fallen, but they are still higher than in ordinary banks. Current prices are available according to comparison sites NerdWallet, Investopedia,, Bankrupt or DirectAccount are over 1.6%. First Foundation Bank offers a rate of 1.6%, more than 26 times the national average.

“Prices are over 1% now, but rates on online savings accounts are falling,” Tumin said. “I wouldn’t be surprised if they fall to 1%.”

At 1%, if you deposit $ 10,000, this is the difference between the profit of $ 100 per year if the exchange rate remains unchanged in online banking against $ 1 at the end of the year from a traditional savings account offering 0.01%.

“It’s not a great return, but it’s better than nothing for funds that need to remain liquid for any needs that may arise,” said Ryan Watermiller, a certified financial planner at Ankeny Financial Planning in Iowa.

Just be sure to read the fine print: Some online accounts charge a fee if you have not made a deposit or withdrawal within a certain number of months or if the balance falls below a certain amount. And there are some accounts that function as a certificate of deposit, charging a penalty for closing the account before a certain period of time.

Alternatives to savings accounts

CDs: Another safe place to deposit your money is a certificate of deposit or CD. It is similar to a savings account because it is federally insured, but you agree to leave your money there for a period of time, such as six months, a year, five years or even longer. You usually earn more interest the longer your money is deposited.

But, as with savings accounts, the interest is not much.

The most average The 6-month CD has an interest rate of 0.17% and the 5-year CD has 0.52%, according to the FDIC.

“Because the frequency of CDs has dropped so much, it’s not a good time to lock up right now,” Tumin said. “There are already several online banks that are reducing the levels of their 5-year CDs so low that they are lower than their savings account rates.”

But, he said, if you already have a CD ladder in which mature CDs are transferred to new CDs, stick to it.

However, before you automatically roll over with your current bank, shop, he said.

“Even online banks are reducing CD rates for all time, but not for all, he said. – Your bank may be the one that lowers interest rates and you may get a better interest rate elsewhere. Look around. You don’t want to conclude with a very low percentage if you can find something better. “

Money market accounts: Money market accounts, which typically earn higher percentages than savings accounts, may allow checking or debit cards and may require a higher minimum deposit.

Money market accounts win average of 0.09%, according to the FDIC.

But there may be some fees. Some money market accounts may have monthly fees, fees for inactive accounts or other fees for non-compliance with the bank’s specifications.

Checking high-yield accounts: High-yield checks, sometimes called remuneration checks, are usually offered by community banks or credit unions and offer rewards for meeting specific account requirements.

Rates can be similar or better than online savings accounts by about 1.5% or higher, depending on DepositAccounts, but you are usually required to make a certain number of debit card payments or spend a certain amount of money on your account each month to get a higher rate.

Most have no fees, but you must meet the requirements to earn a high interest rate.

“Checking payroll accounts can at least provide a way to earn some interest right now in an environment where rates are low and will remain low for a while,” Tumin said.

Cranial virus cases are approaching 2 million in the United States with at least 110,514 deaths

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Coronavirus news and live udates from around the world
Crowds of protesters marched from the Capitol building to the White House during a protest against police brutality and racism on June 6 in DC, Washington. Roberto Schmidt / AFP / Getty Images

Health officials have expressed concern about the spread of coranoia, as thousands of people bravely pandemic to participate in national demonstrations caused by death by George Floyd.

The U.S. Centers for Disease Control and Prevention (CDC) said on Sunday it was closely monitoring the protests in all of the United States and warned that such rallies could promote coronavirus transmission. Some states are already seeing upward trends in new cases.

For three months, the country passed one gloomy milestone after another, killing 100,000 coronae at the end of May. Public health officials have said that without the implementation of most states, the death toll could have been significantly higher.

As these locks and other measures began to relax, the CDC and other senior health officials urged Americans to use face masks when going out and always keep a distance.

But large-scale protests make it difficult to maintain the recommended social distance guidelines and “may endanger others,” CDC spokeswoman Kristen Nordlund said in a statement.

“It is too early to know what will happen if these events affect the Covid-19 federal response. Every local situation is different. State and local officials will make decisions to protect public health and safety based on local conditions, “he said.

Earlier this month, CDC Director Dr. Robert Redfield said protesters should be evaluated and tested for the virus.

“I think there is a possibility that, unfortunately, it is a sowing event,” he said – especially in metropolitan areas where there has been significant transmission.

Read the full story here:

James Bennett resigned from the New York Times after Cotton did not deviate

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New York Times editor James Bennet resigns after backlasck

Sulzberger also said that Jim Dao, deputy editor of an editorial page, who publicly took responsibility as a supervisor editing the song, will retreat from the mast and will be transferred to the newsroom. Katie Kingsbury, another deputy editor of an editorial page, will monitor the editorial page through the 2020 election.

The tectonic restructuring limited a week of turmoil inside the nation’s document, with officials engaging in debates over the publication of Cotton’s option and the Times’ outspoken leadership about the process that led to it.

“Although it was a painful week for the entire company, it sparked urgent and important talks,” Sulzberger officials wrote in a memorandum announcing the changes.

Cotton’s piece, released Wednesday, entitled “Send the Troops,” claims that the Uprising Act could be called upon to deploy troops across the country to help local law enforcement agencies with the unrest caused by George Floyd’s death.

The option was published in The Times’ opinion section, but opinion and newsroom employees, who work separately from each other, publicly disagreed.

Initially, Bennett defended himself against the management of the publication, but later said that his section was wrong, that he had published it, and blamed the failure in the editorial process for the mistake.

Sulzberger’s announcement that Bennett will leave stunned employees was reported by people familiar with The Times’ internal conversations to CNN Business.

A Times official said the episode sparked meaningful conversations about systemic racial bias and diversity in the newsroom. The person said such conversations went deeper than just providing a diverse staff and were about larger issues related to race and the role of The Times in society.

In the town hall with employees on Friday, Salzberger and Bennett said that the work process that has been chosen is inadequate for the moment and has structural problems, a person who was in the conversation told CNN Business.

“Last week we saw a significant breakdown in our editing processes, not the first we’ve experienced in recent years.” Sulzberger writes on Sunday, mentioning other major debates that took place in the Bennett-led opinion section. “James and I agreed that a new team would be needed to lead the department during a period of significant change.”

Bennett’s term was marked by a series of missed mistakes.

The Times section was reopened in September after fueling a sexual assault charge against Brett Cavanaugh.

The vertical measure collided with the heat last summer for actions of columnist Brett Stevens,,

And last April, the public opinion section apologized after publishing an anti-Semitic cartoon in its international edition.

The latest debate has led to criticism from Republicans, who say the paper is biased against them.

Cotton sharply criticized The Times for saying his opt did not meet his standards, noting that Bennett had initially defended the option. Cotton told Fox News that the newspaper was attached to a “crowd of awake children.”

“My wholesale does not meet New York Times standards,” Cotton said. “It goes far beyond their standards, which are usually full of left-wing, sophistic movement.”

President Trump responded to the news on Sunday by attacking the newspaper on Twitter.

An English man has been rescued after six days trapped in a well in Bali

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An English man has been rescued after six days trapped in a well in Bali
Rescuers pulled Jacob Matthew Roberts from a well in the village of Pecatu on Saturday, Krisna Maharta, a public relations officer for the search and rescue service in the area, Basarnas Bali, he told CNN.

Roberts broke his right leg when he fell into the well with a depth of 13 feet and could not escape, although the water was not deep, Maharta said.

He regained consciousness and his calls for help were eventually heard by locals, who informed local authorities on Saturday.

A rescue team was deployed on the same day. Three rescuers climbed a ladder to reach Roberts and used a stretcher to pull him to safety shortly before 2 p.m. local time, according to Maharta.

The fancy vacation in Bali, YouTuber definitely looks nice. No, the photos were taken in Ikea

He was transported by ambulance to the nearest hospital, BIMC Nusa Dua Hospital, where he was in stable condition.

In a statement, local search and rescue chief Gτεten Darmada called on locals to pay attention to their wells and consider using temporary shelters to ensure their safety.

A spokesman for the UK’s Foreign and Commonwealth Office told CNN: “We support a British man in Bali and we are in touch with the local hospital.”

Bali is known for its lush beaches, historic temples and UNESCO rice paddies, but its popularity has also led to struggles with hypertourism.

In January 2019, there were reports that the island was considering a tourist tax to deal with the impact of a large number of visitors.