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News, analysis and comment from the Financial Times, the worldʼs leading global business publication

Keep abreast of significant corporate, financial and political developments around the world.
Stay informed and spot emerging risks and opportunities with independent global reporting, expert
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India News: PATNA: Bihar chief minister Nitish Kumar’s personal attack on his arch rival Lalu Prasad during the recently held assembly elections evoked a visceral.

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B.C.’s Independent Investigations Office was called after a man went into medical distress and died during a confrontation with Vancouver police on Thursday night.

B.C.’s police watchdog is investigating after a man went into medical distress and died during a confrontation with Vancouver police on Thursday night.
Vancouver police say they were called to the Tim Hortons at Terminal Avenue and Station Street just after 6 p.m. because of a man who had been inside the bathroom for half an hour.
At the time, staff at the coffee shop were trying to shut down the dining area and wanted the man removed, according to an email from VPD spokesperson Const. Tania Visintin.
“When he came out of the restroom, he was agitated and aggressive which resulted in a physical altercation,” Visintin wrote.
Police say the man went into medical distress during that confrontation, and though paramedics were called, the man was pronounced dead at the scene.
The Independent Investigations Office, which investigates incidents involving police that lead to serious harm or death, has been called in.

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Convincing retirees to draw down on superannuation and eat into the equity of the family home to fund their golden years will be the next major policy battleground, say industry leaders.

The review also noted that “using superannuation assets more efficiently and accessing equity in the home can significantly boost retirement incomes without the need for additional contributions”.
Mr Cooper, who undertook a 2009 review of the super system for the Rudd government, said the family home had been put on a pedestal in Australia and there were significant issues in encouraging the uptake of products such as reverse mortgages which had been successful in other countries.
Very challenging debate
“It’s exempt to the age pension, it’s CGT [Capital Gains Tax] exempt and it’s also not subject to any inheritance tax,” he said, so there is little incentive for people to draw down on the equity in their home over handing it down to their children.
“We’ve got to come up with a way of making people actually confident to spend that money down, otherwise we’ve got a broken system in retirement, so that’s a huge challenge.”
Martin Fahy, chief executive of the Association of Superannuation Funds of Australia, said changing attitudes towards the family home and encouraging people to draw down every last dollar until they die was “very challenging”.
Labor labelled the idea of greater draw downs, combined with the government’s strong indication it will freeze the super contribution guarantee rate at 9.5 per cent in the May Budget, “political dynamite”.
“What they are saying is that if 9.5 per cent is not enough [for a dignified retirement], then people can just sell their home. Is that really an argument they want to take to an election?” Labor’s Stephen Jones said.
Former Prime Minister Paul Keating likened a move towards freezing the super guarantee rate and encouraging more people to draw down on the equity in their home as forcing people to “eat your house”.
Incomplete information
Industry Super Australia, the lobby group for industry super funds, questioned the adequacy of retirement modelling used by the review’s author, claiming it did not consider the impact of the coronavirus early release super scheme.
The scheme allowed people who lost their jobs or had hours cut due to COVID-19 to withdraw up to $20,000 from their accounts in two tranches. The government expects $42 billion to be withdrawn by year’s end.
However, the Retuirement Review did model the effect on retirement incomes of withdrawing two $10,000 amounts over two years finding a person withdrawing $10,000 in two consecutive years from age 30 would lower their superannuation at retirement by $40,300 in wage-adjusted terms.
ISA chief executive Bernie Dean said: It was always going to be tough to review the whole retirement income system during a pandemic, but you cant base decisions that will affect peoples lives on a report that ignores how almost a quarter of the workforce have just tapped into their super, fundamentally changing what their retirement will look like.”
We need debates about super to be based on credible and complete information because its peoples money were talking about.

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There has been no statement by the authorities on whether Ms. Mufti has been detained or not.

Iltija Mufti, daughter of Peoples Democratic Party (PDP) chief Mehbooba Mufti, on Friday said her mother was placed under a house arrest in Srinagar.
My mother is not being allowed to see the family of party leader Waheed Parra in south Kashmirs Pulwama, she said.
Mr. Parra was arrested two days ago by the National Investigation Agency in a militancy-related case.
Is this what you call democracy where you dont have any right to exercise your freedom of speech and expression? You are being threatened and intimidated for raising voice about anything, she said.
Ms. Mehbooba Mufti had written two letters to the police department in the past two days and sought permission to visit Pulwama.
Why is it that puppets and proxies can travel the length and breadth of Kashmir yet we cant visit and express solidarity with a party workers family? Ms. Iltija asked.
There has been no statement by the authorities on whether Ms. Mufti has been detained or not.

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Germany has seen its total number of coronavirus infections pass one million, the Robert Koch Institute for disease control said.

Germany has seen its total number of coronavirus infections pass one million, the Robert Koch Institute for disease control said.
The institute recorded more than 22,000 new daily cases, pushing the country’s total beyond the one million mark.
Germany had largely contained the spread of the virus in the spring but has been hit hard by a second wave of infections.
The number of Covid-19 patients in intensive care nationwide has soared from just over 360 in early October to more than 3,500 last week.
Most populous North Rhine-Westphalia state has recorded more than a quarter of all cases, ahead of Bavaria’s 198,000 confirmed infections. Berlin has seen 62,000 cases since the start of the pandemic. 
Chancellor Angela Merkel this week announced that Germany was extending its current coronavirus restrictions through to early January unless there is a dramatic drop in infections.
Rules will ease over the festive period to accommodate Christmas and New Year celebrations, allowing meetings of up to 10 adults from December 23 to New Year’s Day.
Latest coronavirus stories 
Europe’s biggest economy has shuttered restaurants, bars, sporting facilities and cultural venues, though schools and shops remain open.
South Korea faces hospital bed shortage
South Korea reported more than 500 new coronavirus cases for the second consecutive day today, a level unseen in nearly nine months, as a third wave of infections spread nationwide, leaving authorities scrambling to provide more hospital beds.
“The situation is extremely serious and acute, as all of the17 metropolitan cities and provinces and especially all the 25 districts in Seoul are reporting new cases,” Prime Minister Chung Sye-kyun told a meeting on Covid-19 responses.
The daily tally of 569 came a day after the numbers hit the highest level since 6 March.
Of the latest cases, 525 were domestically transmitted and more than 64% of those were from the Seoul metropolitan area, according to the Korea Disease Control and Prevention Agency.
People queue for Covid-19 tests in Seoul
Authorities said the fresh wave is more difficult to trace and contain than early outbreaks which were concentrated in a specific region or among a certain religious group.
Alarmed by the countrywide spread and increasing number of cases involving younger patients, Mr Chung warned that daily infections could swell to 1,000 and there could be hospital bed shortages unless the contagion was brought under control.
The health ministry said there are sufficient beds available for now but it could face shortfalls if the current spike continues for more than two weeks.
The government reimposed strict social distancing rules on the capital Seoul and surrounding regions this week -restricting dining out, religious services and nightly entertainment. The move came only a month after similar restrictions were eased as a second wave of infections subsided.
South Korea has reported total infections of 32,887, with 516 deaths.

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As political tensions rise between Canberra and Beijing, China has been blocking wide range of Australian imports.

China will impose temporary anti-dumping measures on wine imported from Australia from November 28, the Ministry of Commerce said on Friday, in a move likely to further escalate trade and diplomatic tensions between Beijing and Canberra.
Importers suspected of bringing in products to be sold below cost price in order to gain market share a process known as dumping will need to pay deposits to Chinas customs authority, which will be calculated based on different rates the authority has assigned to various companies, according to the statement.
The duties come three months after China started an anti-dumping and anti-subsidy investigation into Australian wine, and follow a raft of other measures barring imports from coal to copper to barley this year.
Beijings latest move comes against a backdrop of worsening political relations between the countries after Canberra called for an international inquiry into the origins of the novel coronavirus.
China is the top market for Australian wine exports and is also Australias largest trading partner, with two-way trade worth 235 billion Australian dollars ($170bn) last year.
[Bloomberg]
China in August began an anti-dumping probe into imports of Australian wine at the request of the Chinese Alcoholic Drinks Association. Earlier this month, the association called for retrospective tariffs on Australian wine imports.
The anti-dumping deposits announced on Friday range from 107.1 to 212.1 percent, the Ministry of Commerce said in a statement.
The rate required of Treasury Wine was 169.3 percent, the highest among all the wine firms named in the statement.
Treasury Wine hit
Shares of Australias Treasury Wine Estates Ltd, the worlds largest listed winemaker, fell more than 13 percent before being put on a trading halt pending an announcement.
[Bloomberg]
The company said it is reviewing details of the provisional measures as a matter of urgency in order to update the market.
We dont believe there is any case to answer, so without seeing the details, obviously its disappointing, said Tony Battaglene, chief executive of industry group Australian Grape and Wine, noting that he had yet to see the Chinese statement.
Chinas commerce ministry did not specify how long the measures would last for. It said that it looked into samples from a few Australian firms, including that of Treasury Wines, Casella Wines and Australia Swan Vintage.
Obviously well vigorously defend this, Australian Agriculture Minister David Littleproud told reporters, adding that the tariffs were quite outrageous.
Well exhaust all avenues available to us through the WTO, he added.
A spokesman for Australias Minister for Trade Simon Birmingham did not immediately respond to a request by the Reuters news agency for comment.
Teaching Australia a lesson
The two nations have been in a deadlock since 2018 when Canberra barred Huawei Technologies Co from building its 5G mobile phone network. Adding to the grievances was Prime Minister Scott Morrisons call for an inquiry into the origins of the coronavirus outbreak, a move that bruised Chinas pride and unleashed a torrent of criticism that Australia is a puppet of the US.
This latest hit by the Chinese government shows Beijing is determined to teach Australia a lesson that can reverberate globally, John Blaxland, a former intelligence officer whos now a professor in international security at the Australian National University, told the Bloomberg news agency.
While its important for Australia not to cave into this pressure, it also shows how the nations traders have no option but to quickly recalibrate and diversify their markets.
Morrison sought this week to release some of the pressure, giving a speech that praised China for pulling its people out of poverty. Australia, he said, wants a mutually beneficial relationship and insisted his government isnt siding with the U.S. to contain China. The Ministry of Foreign Affairs in Beijing noted the positive comments.

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Pokemon’s 25th anniversary celebration was teased at the 2020 Macy’s Thanksgiving Day Parade with a new logo and the promise of and exciting 2021 for Pokemon fans.

Pokemon’s 25th anniversary celebration was teased at the 2020 Macy’s Thanksgiving Day Parade with a new logo and a promise of an exciting 2021 for Pokemon fans around the world.The new logo, which you can see below, features Pikachu’s iconic face with the number 25 on its cheeks. Pokemon’s Twitter also said “Our Pokémon 25th Anniversary celebration kicks off in 2021! Stay tuned for more details.”
This logo is very similar to the logo for Pokemon’s 20th anniversary, but without other Pokemon making up Pikachu’s face.
Oh, and we also had to share with you the dancing Pikachu that appeared in the parade alongside the Pikachu balloon that took flight for the 20th consecutive parade.
Did you catch ’em all? #MacysParade@pokemonpic.twitter.com/ck9UBZ9DE9
Macy’s (@Macys) November 26, 2020
There is a good chance we won’t have to wait too long to hear what The Pokemon Company has planned for 2021, as Pokemon Red and Green were released in Japan on February 27, 1996, and it has previously celebrated milestones based on the Japanese release.In 2016, The Pokemon Company celebrated Pokemon’s 20th anniversary with the announcement of Pokemon Sun and Moon (On February 26, no less),Pokemon Red, Blue, and Yellow on 3DS’ Virtual Console,a special 3DS bundle featuring cover plates of Charizard and Blastoise, a Super Bowl commercial, and much more.
With Pokemon Sword and Shield’s Isle of Armor and The Crown Tundra DLC released, it may be time to hear about the next big Switch Pokemon title, whether it be a new generation or something similar to Pokemon: Let’s Go, Pikachu! and Let’s Go, Eevee!
We are also waiting to hear more of New Pokemon Snap and Pokemon Unite, the Co-op strategy game that closely resembles a MOBA like League of Legends or DOTA 2.
How do you hope The Pokemon Company will celebrate Pokemon’s 25th anniversary? Let us know in the comments below!
Have a tip for us? Want to discuss a possible story? Please send an email to newstips@ign.com.Adam Bankhurst is a news writer for IGN. You can follow him on Twitter @AdamBankhurst and on Twitch.

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$100 Off MacBook Air, MacBook Pro with Apple M1 Chip for Black Friday

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Penfolds maker Treasury Wine Estates faces turmoil in its largest export market after Chinese regulators announced a sudden 169.3 per cent tariff on its exports

“TWE is reviewing the details of the provisional measures as a matter of urgency in order to update the market,” it said.
We recognise that for any of these companies operating in the export areas with China at the moment they’re in the firing line.
Angus Gluskie, chief executive of White Funds Management
China is Treasury’s biggest single export market, and while the $6.6 billion wine giant does not disclose the value of its wine exports to China, its annual revenue from the market is widely believed to be hundreds of millions of dollars a year.
In 2018-19 Treasury’s total revenue from its Asia division jumped a hefty 36.8 per cent to $748.9 million, largely powered by the rising appreciation of Chinese wine drinkers for Australian red wine. JP Morgan recently esimated that China accounts for about two-thirds of Treasury’s sales in Asia.
In the 12 months to the end of September total Australian wine exports to China rose 1 per cent to $1.26 billion, even as volumes fell 12 per cent. The result cemented Australia’s position as the wine export nation with the largest market share in China.
MOFCOM documents suggest Casella Wines faces a 160.2 per cent tariff on exports to China, while Accolade Wines, ASX-listed Australian Vintage and Pernod Ricard face a 160.6 per cent tariff. A spokeswoman for Accolade declined to comment.
Angus Gluskie, managing director of long term Treasury investor White Funds Management, said he was not surprised by the new hit on Australian wine exports, which he thought was “inevitable”.
“We recognise that for any of these companies operating in the export areas with China at the moment they’re in the firing line and it’s not just wine, it’s been barley it’s been other goods as well. It’s a by-product of international relations,” he said.
“As an investor I’m sure all of us would prefer to see the international angst removed, so that there’s free and fair trade,” he said.
At Treasury’s recent annual meeting its chairman Paul Rayner told shareholders the company was planning for a potentially severe tariff, but also said Treasury was committed to China for the long term.
“We’re preparing for a range of potential outcomes, from mild to severe tariffs, and we’re undertaking detailed scenario planning to ensure we’re prepared, once the investigation outcomes are known,” he said.
Treasury chief executive, Tim Ford, told The Age and the Herald after the meeting that Treasury would be able to respond quickly to whatever decision was made by Chinese regulators.
“It’s a wide range of tariff scenarios, and I won’t declare the actual percentages we’re working to but some of them are certainly more dramatic than others,” he said at the time.
Industry leaders held urgent talks on Friday afternoon to discuss the China move.
“We don’t see it’s justified and we’re obviously deeply concerned about what it does,” said Tony Battaglene, chief executive of Australian Grape and Wine.
“It’s all rather academic up around those levels anyway. Because once you’re up at 160, 200 per cent, essentially it’s going to be very difficult to sell product that consumers are prepared to pay for,” he said.
The tariff comes after an investigation by MOFCOM into claims that Australian wine was dumped in China. It is the latest trade strike by China against Australian exports this year and follows new restrictions on barley, beef, timber and seafood exports.