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Wednesday, October 9, 2019

World News Updates, World News, Current Affairs, Daily Current Affairs, World News Updates

World News Updates, World News, Current Affairs, Daily Current Affairs, World News Updates


Russia masterplan: Spy chiefs uncover top-secret ‘Unit 29155’ plot to take down Europe

Posted: 09 Oct 2019 12:55 AM PDT



RUSSIA'S attempt to assassinate former spy Sergei Scripal in Salisbury were part of a chilling Cold War-style plot to destabilise Europe, according to security sources.

US-Syria: Trump scrambles to redeploy US troops as Turkey launches attacks in Syria

Posted: 08 Oct 2019 09:27 PM PDT



DONALD TRUMP is scrambling to redeploy troops in Syria following reports that Turkey has attacked US-backed rebels in the region.

Michelle Obama snub: Former FLOTUS in shock book clash as she reignites Clinton-Obama feud

Posted: 08 Oct 2019 06:41 PM PDT



MICHELLE OBAMA announced the release of her $20 journal this week, but the announcement saw the ex-FLOTUS steal the limelight from another former First Lady.

EU wastes £3.6bn in one year - 'Grave concern' as watchdog finds bloc squandering funds

Posted: 08 Oct 2019 04:29 PM PDT



MORE than £3.59billion of European Union funds were misspent last year, according to the European Court of Auditors.

Typhoon Hagibis landfall: What time will Super Typhoon Hagibis make landfall in Japan?

Posted: 09 Oct 2019 02:15 AM PDT



TYPHOON HAGIBIS, a monstrous Category 5 storm, is approaching Japan following a rapid intensification in the Pacific Ocean, but what time and which areas will be hit by the massive storm?

China chaos: Beijing hits out at US with visa crackdown as simmering tensions boil over

Posted: 09 Oct 2019 01:48 AM PDT



BEIJING has launched a visa crackdown on US citizens with links to anti-China groups as tensions between the two countries threaten to boil over.

Iran 'continued nuclear missile development under Trump's nose' sparking Middle East chaos

Posted: 09 Oct 2019 01:17 AM PDT



DONALD TRUMP's wrestle with Iran over its nuclear programme has ended with heightened tensions as Tehran now accelerates its missile development having ignored restrictions set by the nuclear deal for years, according to analyst Behnam Ben Taleblu.

Typhoon Hagibis path: ‘Explosive’ super typhoon changes course and makes beeline for Tokyo

Posted: 09 Oct 2019 12:46 AM PDT



TYPHOON HAGIBIS has strengthened enormously over the Pacific and its wildly unpredictable path has seen it zigzag toward Japan. Here is all the latest.

South China Sea: Russia interested in Philippine 'power' in blow to China's dominance

Posted: 08 Oct 2019 09:03 PM PDT



RUSSIA and the Philippines look set to conclude a monumental infrastructure project according to reports.

World News, World News Updates, World News Headlines, Latest World News, Current Affairs

World News, World News Updates, World News Headlines, Latest World News, Current Affairs


The China-NBA Spat Underscores Just How Far Sino-U.S. Relations Have Deteriorated

Posted: 09 Oct 2019 02:12 AM PDT

It was supposed to be a week celebrating basketball in Asia, with some of the sport’s top stars due to play preseason games and host charity events in Japan and China. But the escalating showdown between the NBA and Beijing over free speech is fast becoming the latest hot potato in deteriorating Sino-U.S. relations.

On Tuesday, China’s state television CCTV and streaming service Tencent suspended all broadcasts of preseason NBA games following a tweet by Houston Rockets general manager Daryl Morey in support of pro-democracy protests in Hong Kong. That same day, a Brooklyn Nets community event in Shanghai was abruptly canceled, while Rockets memorabilia has been stripped from Chinese online retailers.

That Morey’s tweet received a furious backlash in China is hardly surprising. But it’s the muddled and inconsistent response by the NBA, its teams and owners that threatens to cast the spat as an inflection point undermining sport’s time-honored apolitical, and thus unifying, role.

“The most disappointing thing about this whole incident is that sport does appear to be tarnished,” says Mark Dreyer, a Chinese sports industry analyst. “It’s not even neutral any longer but actually seen as a negative.”

Initially, the NBA said it was “extremely disappointed” by Morey’s “inappropriate” tweet, while Rockets owner Tilman Fertitta insisted his general manager doesn’t speak for the team. But this prompted American NBA fans, as well as politicians on both side of the aisle, to accuse the league of shameless kowtowing to a totalitarian Chinese Communist Party (CCP) for the sake of revenue. NBA commissioner Adam Silver later backtracked, supporting Morey’s right “to exercise his freedom of expression.”

Profit versus principle is, of course, a timeless quandary, though one thrown into ever-sharper focus as the global economy slows and the world’s number two becomes more repressive and thinner skinned.

Certainly, Silver’s U-turn in the face of domestic pressure ended any prospect for a quick resolution. A statement by CCTV announcing the suspension of broadcasts said, “We believe any speech challenging national sovereignty… is outside of the realm of freedom of speech.” Meanwhile, Brooklyn Nets owner Joe Tsai — the Taiwanese-Canadian co-founder of Alibaba — accused Morey in a lengthy Facebook post of “supporting a separatist movement,” borrowing straight from the language of the CCP.

Chinese basketball fans were just as uncompromising. “You only have a home after you have a country,” Mr. Wang, a businessman who has supported the LA Lakers for over a decade, tells TIME. “When our sovereignty is challenged, not watching the NBA isn’t a big deal.”

While soccer remains China’s national sport, basketball is arguably more popular among young, urban Chinese. Some 300,000 regularly shoot hoops, while almost half a billion Chinese watched an NBA game on television last year. China is the NBA’s second biggest market — Tencent’s streaming deal alone is worth $1.5 billion — and one of its main avenues for growth. But that opportunity comes with strings attached.

In recent years, Western brands as diverse as Marriott Hotels, Daimler, Swarovski and Samsung, as well as fashion labels Gap, Givenchy, Coach and Versace, have all been forced to apologize for perceived slights that damage their China business interests.

In today’s China, under the jingoistic rule of strongman President Xi Jinping, nobody can afford to have their patriotism called into question. In the wake of the Versace scandal, which like many of the above erupted after the brand suggested that the Chinese special administrative regions of Hong Kong and Macau were independent states, a slew of top Chinese celebrities cut ties with the fashion house.

The NBA spat has prompted a similar chill. Chinese sportswear brand Li-Ning, Tencent, Shanghai Pudong Development Bank and the Chinese Basketball Association (CBA) all dropped ties with the Rockets. The latter particularly stings given that CBA’s current chair is none other than Yao Ming, China’s most successful basketball star, who played for the Rockets from 2002 to 2011, and helped transform it into one of the NBA’s most popular teams in China.

It remains to be seen what happens next. For now, the two scheduled games in Shanghai and Shenzhen — both between the LA Lakers and Brooklyn Nets —remain on track (even if no Chinese outside the arena will be able enjoy them.) Silver is expected in China today and will hope to smooth things over with Yao and other stakeholders. But the “nuclear option” would be for CCTV and Tencent to expand their coverage suspension into the NBA season proper, which begins Oct. 22, says Dreyer.

“I would be staggered if that happens,” Dreyer adds. “But you just don’t know, because once it becomes a political situation, other rules are followed.”

It’s certain to not be the last moral quandary to beset foreign companies chasing China’s 1.4 billion potential customers. As China regresses on human-rights, censorship and myriad other issues, U.S. firms turning a blind eye to egregious abuses — not least the imprisonment of over a million ethnic Uighur Muslims in restive Xinjiang province — to maintain their China business will alienate customers at home. For one, Google’s plan to return to China with a search engine that complies with Chinese censorship was shelved following a very public staff revolt.

Of course, that sport has been thrown into the spotlight is unfortunate, given it has historically served as a key soft power avenue for building bridges between political adversaries. North and South Korea marching under a united flag at the 2018 Pyeongchang Winter Olympics helped mend ties between the estranged neighbors, despite them technically remaining at war. In China, the thaw with the West that began in the 1970s with ping-pong diplomacy gathered pace over the following decades with the swelling popularity of the NBA, Premier League Soccer and even NFL in the Middle Kingdom.

But in recent years political rapprochement has slowed and even regressed. The U.S. under Trump has taken aim at China’s economy and key industries amid what analysts have dubbed a “new cold war.” The E.U. earlier this year branded China a “systemic rival.” Not even sport, it seems, can escape this chill. As one netizen mused on Chinese social media Wednesday, “The China-U.S. relationship started with table tennis and ends with basketball.”

With reporting by Zhang Chi/Beijing

Islamic State Militants Hit U.S.-Backed Kurdish Fighters in Northern Syria

Posted: 08 Oct 2019 11:56 PM PDT

(BEIRUT) — A U.S.-backed force and two Syrian activist groups say Islamic State militants have carried out an attack in the city of Raqqa in northern Syria.

The early Wednesday attack targeted a post of the U.S.-backed Kurdish-led Syrian Democratic Forces in Raqqa, which was once the extremists’ de facto capital.

The attack comes as Turkey is expected to launch an offensive against the Kurdish fighters in northeastern Syria.

The Kurdish fighters say IS launched three suicide attacks against its positions in Raqqa. There was no word on casualties.

Raqqa is being Silently Slaughtered, an activist collective, reported an exchange of fire and a blast.

The Britain-based Syrian Observatory for Human Rights, a war monitoring group, says the attack involved two IS fighters who engaged in a shootout before blowing themselves up.

U.S. Dips in Global Competitiveness Index as Singapore Takes Top Spot

Posted: 08 Oct 2019 07:38 PM PDT

(GENEVA) — The United States is less competitive than it was a year ago and the global economy remains hobbled by low productivity despite a decade of cheap money from central banks, the World Economic Forum said Wednesday.

In its latest assessment of the factors behind productivity and long-term economic growth, the organization best-known for its annual gathering of the elites in the Swiss ski resort of Davos found Singapore overtaking the United States as the most competitive country, aided in no small part by its state-of-the-art infrastructure and strong cooperation between labor and management.

The Global Competitiveness Report, which is now in its 40th year, said the U.S. is losing ground in measures such as “healthy life expectancy” and preparedness for the future skills needed in the 21st century.

Hong Kong, the Netherlands and Switzerland rounded out the top five places in the rankings.

The report’s index maps out the competitive landscape of 141 economies based on more than 100 indicators in a dozen categories.

Those categories include headings like health, financial system, market size, business dynamism and capacity to innovate.

The U.S. did remain “an innovation powerhouse” and the world’s most competitive large economy, and despite the prospects of a future skills gap, the U.S. still ranks highly for “ease of finding skilled employees” today.

WEF founder Klaus Schwab called the index a “compass for thriving in the new economy where innovation becomes the key factor of competitiveness.”

Authors say it’s too early to fully assess the impact of some of the operative factors in the world economy over the last year, notably rising trade tensions between the U.S. and China that’s led to tariffs on hundreds of billions of dollars’ worth of goods imposed.

They found signs that the trade tiff has led some economies to benefit as businesses look for alternatives to China.

“For example, Vietnam used to be at 77 last year. This year, it’s at 67,” said Saadia Zahidi, head of the WEF’s Center for the New Economy and Society. “That 10-rank increase is in part because the economy has been able to use the current situation in terms of the trade war to attract some of the investments to be able to become a little bit more of a regional trading hub.”

Zahidi said there’s not enough information yet to assess the full impact of tariffs on competitiveness, but that the restrictive trade measures appear to be linked to a “downturn in business sentiment” that could bode badly for the global economy.

Trump Just Handed Control of ISIS Prisoners to Turkey. Not Everyone in Turkey Is Happy About That

Posted: 08 Oct 2019 02:59 PM PDT

President Donald Trump’s impromptu endorsement of a Turkish incursion into northeast Syria has prompted accusations that Trump had betrayed America’s Kurdish allies in Syria. But his handing Turkey responsibility for thousands of ISIS prisoners has also rung alarm bells among former top officials in Ankara.

Shortly after Trump spoke on the phone with his Turkish counterpart Recep Tayyip Erdoğan on Sunday, the White House issued a statement saying Turkey would soon be moving ahead with its “long-planned operation in Northern Syria” and that U.S. forces would “no longer be in the immediate area.” The statement added that Turkey would now “be responsible for all ISIS fighters in the area captured over the past two years.”

Taking responsibility for ISIS will be a “nightmare” for Turkey, said Yaşar Yakış, who served as the country’s foreign minister under prime minister Abdullah Gul between 2002 and 2003. “There are already dormant ISIS cells in Turkey. They may wake up and wreak havoc in the country.” In 2015 and 2016, a series of terror attacks in Turkey claimed by ISIS killed at least 276 people.

There are about 11,000 ISIS detainees in over 30 detention facilities across northern Syria. A separate camp for internally displaced persons known as al-Hol, located in northeastern Syria, holds nearly 70,000 people, including thousands of ISIS family members, according to a recent Defense Department Inspector General’s report.

These facilities are currently controlled by the Syrian Democratic Forces (SDF), the U.S.-backed alliance comprised mostly of Kurdish fighting units known as the YPG, which were instrumental in routing ISIS from its Syrian strongholds. Turkey regards the YPG as indistinguishable from the militant Kurdistan Workers’ Party (PKK), which both Ankara and Washington consider a terrorist organization. The objective of the operation in northeast Syria is to strike at YPG fighters.

Nejat Elsern, a retired Turkish Army general, says that while the Kurdish fighters in Syria are the “most important threat” to Turkey, “the main topic of the White House statement is not the PKK, it is ISIS.” Economic or political pressure may have pushed Ankara to agree to the quid pro-quo, he added, but it’s a deal “I would not have accepted.”

The White House statement on Sunday bemoaned European countries’ refusal to take back captured ISIS fighters and the cost of ISIS prison camps to U.S taxpayers. That demonstrates “a complete lack of understanding of anything happening on the ground,” former U.S. special envoy to the global coalition to defeat ISIS Brett McGurk wrote on Twitter.

McGurk, who resigned shortly after Trump announced U.S. troops would pull out of Syria late December, said that Turkey does not have the intent, desire, nor the capacity to manage detainees the SDF holds at al Hol camp, which Pentagon officials warn is the “nucleus for a resurgent ISIS.”

The U.S. flip-flopping on Syria has already impeded the SDF’s ability to stem an ISIS resurgence, according to Dareen Khalifa, Senior Syria analyst at the International Crisis Group. Despite Trump’s past assertions of total victory over ISIS, hit and run attacks still take place daily, she wrote in Twitter thread, and the group’s ideology lives on strongly in the camps of captured fighters and their families.

Now the SDF is considering leaving the extremists under their control to their own devices. On Monday, General Mazloum Kobani Abdi, the group’s commander, told NBC news that watching over the ISIS prisoners had become a “second priority” as the group’s fighters rush to Syria’s northern border in anticipation of a Turkish offensive.

“If you are the Kurds, you look at this and say can we afford to have our hands partially tied looking after these people who mean us harm whilst we are going to face some sort of threat from across the border?” a western official who focuses on ISIS told TIME on Monday. “They only really have two options. One is to release them… or to kill them.”

Turkey is yet to confirm when its operation will commence, how many troops it will deploy, or how far into Syrian territory it plans to advance. The ISIS fighters captured in Syria are not being detained in the Arab-majority towns near the Turkish border but in prison camps and local detention centres dispersed deeper into Syria’s northeast. An incursion into Kurdish majority areas beyond the borderlands “will not only fuel further conflict in a relatively stable part of the country but also mass displacements,” says Gonul Tol, director of The Middle East Institute’s Center for Turkish Studies.

Ankara’s goals may end up being more limited than that, says former foreign minister Yakış. “Turkey’s initiative may eventually boil down to give the impression that the government fulfilled the promise of carrying out a military operation in Syria and stop there.”

—With reporting by Kimberly Dozier/Washington

Climate Activists Block Central London Streets as Boris Johnson Derides Them as ‘Uncooperative Crusties’

Posted: 08 Oct 2019 11:50 AM PDT

(LONDON) — Hundreds of climate change activists camped out in central London on Tuesday during a second day of world protests by the Extinction Rebellion movement to demand more urgent actions to counter global warming.

Determined activists glued themselves to the British government’s Department of Transport building as police working to keep streets clear appealed to protesters to move to Trafalgar Square.

Cities in Australia, elsewhere in Europe and other parts of the world also had climate change protests for a second day.

British Prime Minister Boris Johnson appealed Monday to the protesters to stop blocking London’s streets. He called the activists “uncooperative crusties” who should abandon their “hemp-smelling bivouacs.”

Mike Gumn, 33, a National Health Service manager with two children, said he used a day of annual leave so he could attend the demonstration. Gumn, of Bristol, took umbrage at Johnson’s characterization of climate change activists as “hippies.”

“I want to make a statement that (the activists) are all different sorts of people from all different walks of life, not just people you would call hippies,” he said.

Police arrested 152 people on Monday, taking the two-day total to 471.

Disruption continued in other major cities in Europe. Activists set up tents in Paris, occupying a major square and blocking traffic along a bridge near city hall.

“We’ll stay here until the end and if they must remove us by carrying us out, moving us out or using teargas, we will be here, we will remain united, non-violent,” said Clement Schneider, 26, from Fribourg, Switzerland.

“And this will only reinforce, I hope, our commitment for the coming protests.”

In Brisbane, Australia, protesters chained themselves to intersections in the city center and three people locked themselves onto barrels filled with concrete. A protester hanging from a harness beneath Brisbane’s Story Bridge and brandishing “climate emergency” flags was taken into police custody and charged with unregulated high-risk activity.

Queensland police confirmed 29 people – ranging in age from 19 to 75 – were arrested in the city, and six others were arrested in Sydney after lying in a downtown street intersection.

More than 100 protesters dressed as bees at Sydney’s Hyde Park to highlight their claim that insects are under threat due to the impact of humans on the environment.

Some activists camped at Melbourne’s Carlton Gardens overnight before marching to a street corner locked down by more than 100 protesters in inclement weather. Police arrested 59 people for blocking an intersection.

“I don’t know that shutting the city down necessarily wins you many friends,” Victoria premier Daniel Andrews said.

In Perth, about 50 protesters converged outside the offices of The West Australian, the city’s daily newspaper. The front page of Tuesday’s paper was left intentionally blank for protesters to use as a placard.

Founded in Britain last year, Extinction Rebellion has chapters in some 50 countries and wants to achieve net zero carbon emissions by 2025.

On Monday, activists with the movement stopped traffic in European cities and smeared themselves and emblems of Wall Street in fake blood and lay in New York streets.

In Berlin, 300 people blocked Potsdamer Platz, placing couches, tables, chairs and flowerpots on the road. They earlier set up a tent camp outside German Chancellor Angela Merkel’s office out of dissatisfaction with her government’s climate policy.

Merkel’s chief of staff, Helge Braun, criticized the group’s tactics.

“We all share an interest in climate protection, and the Paris climate targets are our standard in this,” he told ZDF television. “If you demonstrate against or for that, that is OK. But if you announce dangerous interventions in road traffic or things like this, of course that is just not on.”

Blizzard Entertainment Bans Professional Gamer for Supporting Hong Kong Protestors

Posted: 08 Oct 2019 10:45 AM PDT

Blizzard Entertainment has banned a professional Hearthstone player who expressed support for protestors in Hong Kong during a live broadcast following the recent Asia-Pacific Grandmasters tournament in which the top pro players from the region participate — and rescinded the money he won in the competition.

Blizzard Entertainment, a U.S.-based video game developer that’s a part of the entertainment company Activision Blizzard, is the publisher behind the digital collectible card game Hearthstone.

During a post-game interview Sunday on the official Hearthstone Taiwan livestream, the player, Ng “Blitzchung” Wai Chung, pulled down a pro-democracy Hong Kong-style mask and shouted, “Liberate Hong Kong. Revolution of our age!”

Inven Global, a website that covers esports and gaming news, reports that Blitzchung shouted the phrase in Chinese. Blitzchung is from Hong Kong, according to Inven Global. A clip of the interview can be seen here.

In response, Blizzard, a U.S.-based video game developer, banned Blitzchung from competing in Hearthstone tournaments for a year, starting on Oct. 5. The company said Blitzchung has been removed from the Grandmasters roster, and will not receive any prize money he earned during the Grandmasters season 2 tournament. According to a statement from Blizzard, Blitzchung violated a competition rule that bars players from doing anything that “brings you into public disrepute, offends a portion or group of the public, or otherwise damages Blizzard image.”

Blitzchung lost $10,000 in prize earnings, Bloomberg reports. In a statement to Inven Global, Blitzchung said he viewed his comments as a continuation of his participation in the protests.

“As you know, there are serious protests in my country now. My call on stream was just another form of participation of the protest that I wish to grab more attention,” he said. “I put so much effort in that social movement in the past few months, that I sometimes couldn’t focus on preparing my Grandmaster match. I know what my action on stream means. It could cause me lot of trouble, even my personal safety in real life. But I think it’s my duty to say something about the issue.”

Blizzard is the latest American organization trying to quell support for the ongoing pro-democracy protests in Hong Kong out of an apparent fear of retaliation from the Chinese government, which has insisted that Hong Kong and Taiwan be referred to as its territories, and not as their own countries. Just this week, China’s state television banned broadcasts of preseason NBA games after a now-deleted tweet from Houston Rockets General Manager Daryl Morey expressed support for the Hong Kong protestors.

Why the Swedish King Just Cut 5 of His Grandchildren From the Royal House

Posted: 08 Oct 2019 07:46 AM PDT

Five of King Carl XVI Gustaf of Sweden’s seven grandchildren will no longer have to perform royal duties and will no longer receive taxpayer support, the Swedish Royal House announced Monday.

The King has three children. His eldest daughter and heir to the throne, Crown Princess Victoria, has two children, Princess Estelle and Prince Oscar, who were exempt from the Monday decision (as the current second and third in line). But the children of Carl’s younger children, Prince Carl Philip and Princess Madeleine, were stripped of their royal titles.

Carl Philip’s children, Prince Alexander and Prince Gabriel, and Madeleine’s children, Princess Leonore, Prince Nicolas, and Princess Adrienne, “will continue to be members of The Royal Family,” a statement from the Royal House read. “However, they will no longer enjoy the style of Royal Highness and, in the future, will not be expected to perform duties incumbent on the Head of State.

The children will retain the Duke or Duchess titles they have already been granted. Alexander and Gabriel are the Dukes of Södermanland and Dalarna respectively; Leonore and Princess Adrienne are the Duchesses of Gotland and Blekinge respectively, and Nicolas the Duke of Ångermanland.

Both Prince Carl and Princess Madeleine shared their support for the decision on social media.

Princess Madeleine announced on Instagram that the change had been planned for a long time, and said her husband, Christopher O’Neill, who is an American citizen and therefore unable to have a “Prince” title, believed it was a good idea. “Our children now have a greater opportunity to shape their own lives as individuals in the future.

Similarly, Carl Philip announced on Instagram that he and his wife, Princess Sofia, favor the king’s decision, adding that his family will continue to participate in royal events as they wish.

The decision came amid increasing conversations in Sweden as to who in the royal family should receive taxpayer money, according to the BBC. Swedish historian Dick Harrison told the BBC Monday that royal house was, prior to King Carl’s ruling, the largest in 100 years, and argued it wasn’t necessary for Swedish taxpayers to fund members of the family who may not be needed to perform official duties.

Amid China Backlash, NBA Commissioner Says League Will Support Freedom of Speech

Posted: 08 Oct 2019 05:39 AM PDT

(TOKYO) — NBA Commissioner Adam Silver said the league is not apologizing for Houston Rockets general manager Daryl Morey’s since-deleted tweet showing support for anti-government protesters in Hong Kong, even after China’s state broadcaster CCTV canceled plans to show a pair of preseason games in that country later this week.

Silver, speaking Tuesday at a news conference in Tokyo before a preseason game between the Rockets and NBA champion Toronto Raptors, went as far as to say that he and the league are “apologetic” that so many Chinese officials and fans were upset by Morey’s tweet and comments that followed — but insisted that Morey has the right to freedom of expression.

“Daryl Morey, as general manager of the Houston Rockets, enjoys that right as one of our employees,” Silver said. “What I also tried to suggest is that I understand there are consequences from his freedom of speech and we will have to live with those consequences.”

Among those consequences: CCTV said it would not show the games between the Los Angeles Lakers and Brooklyn Nets, who will play Thursday in Shanghai and Saturday in Shenzhen. Basketball is wildly popular in China and those two teams — largely because of LeBron James starring for the Lakers and Chinese e-commerce giant Alibaba’s co-founder Joe Tsai now owning the Nets — would have almost certainly been a huge television draw.

“We’re strongly dissatisfied and oppose Adam Silver’s claim to support Morey’s right to freedom of expression,” CCTV said in a statement. “We believe that any remarks that challenge national sovereignty and social stability are not within the scope of freedom of speech.”

The broadcaster is also reviewing all its cooperation and exchanges involving the NBA, said the statement posted to CCTV Sports’ official social media account.

Silver is going to Shanghai on Wednesday and said he hopes to meet with officials and some of the league’s business partners there in an effort to find some sort of common ground. He said he hopes Chinese officials and fans look at the totality of the impact of the three-decade-plus relationship between the league and their country, and urged them to see his response while acknowledging there are political differences between the countries.

“I’m sympathetic to our interests here and our partners that are upset,” Silver said. “I don’t think it’s inconsistent on one hand to be sympathetic to them and at the same time stand by our principles.”

Silver said the NBA did not expect CCTV to cancel plans to show the Lakers-Nets games. “But if those are the consequences of us adhering to our values, I still feel it’s very, very important to adhere to those values,” Silver said.

This rift between China and the NBA started late last week when Morey tweeted a now-deleted image that read “Fight for Freedom. Stand with Hong Kong,” in reference to months of pro-democracy demonstrations in the semiautonomous Chinese territory that has been mired in escalating violence between protesters and law enforcement.

Efforts were quickly made to defuse the impact; Rockets owner Tilman Fertitta said Morey does not speak for the Rockets, and Morey returned to Twitter on Monday in an effort to clarify his meaning. But damage was clearly done: at least one Chinese sporting goods company said it was no longer cooperating with the Rockets, NBA streaming partner Tencent — which has a $1.5 billion contract with the league over the next five seasons — said it would not show Rockets games and a sports news website in China said it was no longer covering the team.

Further complicating the matter is this: China’s best-known basketball player is Hall of Famer Yao Ming, who spent his NBA career with the Rockets. Yao is now the president of the Chinese Basketball Association, which has said it is suspending its relationship with the Rockets as part of the response to Morey’s tweet. The CBA also canceled plans to have the G League affiliates from Houston and Dallas play preseason games in China later this month.

“I’m hoping that together Yao Ming and I can find an accommodation,” Silver said. “But he is extremely hot at the moment, and I understand it.”

A ceremonial NBA Cares event for an educational center in Shanghai with the Nets was canceled Tuesday, though the Nets participated in other events as scheduled. The Lakers were arriving there Tuesday. Silver said NBA Cares would still honor its bigger mission surrounding that event, including providing a gift of new computers.

“How can it be possible to carry out exchanges and cooperation with China without knowing China’s public opinion?” Chinese Foreign Ministry Spokesman Geng Shuang said Tuesday. “NBA’s cooperation with China has been going on for quite a long time, so for what should be said and what should be done, they know best.”

Silver also released a statement prior to his news conference, saying “those who question our motivation” should know that the NBA’s stance is about more than business. Many U.S. lawmakers have called for the league to take action — some even suggesting the games in China should be canceled by the NBA.

“We are not apologizing for Daryl exercising his freedom of expression,” Silver said. “I regret — again, having communicated directly with many friends in China — that so many people are upset, including millions and millions of our fans. At the end of the day, we come with basketball as an opportunity to sell dreams, sell hopes … that we are causing disruption in people’s lives and that we are causing disharmony, that’s something I regret.”

Tuesday, October 8, 2019

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Mildly Nervous Reaction to Trade Negotiation News

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Apple stock is holding its ground as natural gas prices drive oil prices lower and Weyerhauser stock outperforms timber ETFs.

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Cannabis ETFs and Stocks May Be Next Shoe to Drop After Failed IPOs

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Forecasts have been slashed for cannabis sales, cash flow and stock performance.

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3 Charts Suggest Traders Will Want to Buy Financials

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Strong channel patterns across the financial sector are clearly laying out how where trend followers will want to place their orders.

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Atlassian Fails to Break Out After Hiking Prices

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The Future of ETFs

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ETFs are growing in popularity as a result of recent shifts in the markets and Federal Reserve interest rate cuts. But where are they headed in the future?

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7 Underpriced Stocks With Biggest Upside as Market Stages 4Q Rally

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Goldman Sachs names 7 stocks with wide gaps between their current and target prices that could soar.

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3 Europe ETFs Near Support as Brexit Deadline Nears

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European stocks have been in a holding pattern ahead of the Oct. 31 Brexit deadline. Watch these ETFs as the negotiations continue.

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Richly Priced Market Failing to Price in Recession Faces 30% Plunge: Leuthold

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A study by The Leuthold Group finds that stock valuations are too high in the face of rising recessionary risks.

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Investors Rushing to Safe Haven ETFs Despite Sky High Valuations

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As uncertainty increases, money flows into ETFs such as real estate, utilities, consumer staple and low vol funds.

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Stocks Hesitate as Investors Realign Needs and Wants

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The utility sector maintained its relative strength, while Disney share prices bounced off support.

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What is a currency crisis?

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Find out what can cause a currency to collapse and what central banks can do to help in times of a currency crisis.

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Airbnb or Hotel: Which Is Better for Las Vegas Visitors?

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A glitzy hotel on the Strip or a quiet guesthouse at the edge of town? Airbnb widens your options for a Vegas vacation.

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Why the 2019 IPOs May Slow the Market for New Offerings

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Stock performance for newly public companies is the worst it has been since at least 1995.

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The 7 Best CD Rates for October 2019

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Find the highest nationally available rates for each CD term from federally insured banks and credit unions on Investopedia.

Momentum Unwind Hurts Star Hedge Funds

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While we may not be out of the woods yet, the worst selling is likely behind us, and underpriced assets could offer buying opportunities.

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Traders Should Be Watching This Weekly Government Report

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The CFTC releases weekly stats on market composition; we should all pay attention.

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NVIDIA Stock Tests Highs After Bullish Analyst Comments

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NVIDIA shares moved higher to retest reaction highs following two price target increases driven by a recovery in gaming.

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3 Stocks to Play a Rebound in Natural Gas Prices

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Natural gas prices staged an impressive reversal late last week. Play momentum in the commodity by trading these three large-cap producers.

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Utility Rally Could Last Into 2020 Election

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Utility stocks have zoomed to new highs in powerful uptrends that could last into the presidential election.

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8 Stocks That Can Lead Longterm as Steep Market Selloff Looms

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These stocks offer low valuations and high dividends, and look poised to outperform under several possible economic backdrops.

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What to Expect From Netflix Earnings

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Investors are anxiously awaiting Netflix's third-quarter earnings report to see if the company can reverse the slowdown in subscription growth.

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Forced Place Insurance Definition

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Force place insurance is placed onto a mortgaged property by lien holders to provide coverage after a borrower has allowed their policy to lapse.

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Underperform

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"Underperform" is a analyst designation or recommendation that indicates an expectation that a stock will do slightly worse than the market return.

Clean-Up Requirement Definition

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A clean-up requirement is a stipulation that is a way for lenders to ensure borrowers who use revolving lines of credit pay their debts.

Accredited Asset Management Specialist (AAMS) Definition

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Accredited Asset Management Specialist (AAMS) is a professional designation awarded to financial professionals by the College for Financial Planning.

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How Does Privatization Affect a Company's Shareholders?

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Shareholders are typically well compensated when they sell their shares so that a company can go from being public to private.

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How To Talk To Headhunters

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Try to build a cordial relationship with any headhunters you talk to and leave them with the impression that you'd be happy to speak again in the future.

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Best Credit Cards For International Students

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International students studying in the U.S. can establish credit history and get a locally issued credit card.

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Read the Fine Print Before Investing in Callable CDs

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Learn about callable certificates of deposit (CDs) and how they offer higher yield returns than regular certificates of deposit, but with a catch.

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Investment Center

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An investment center is a business unit that can utilize capital to contribute directly to a company's profitability.

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Closely Held Corporation

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A closely held corporation is any firm that has only a limited number of shareholders; its stock is publicly traded on occasion but not on a regular basis.

Regulatory Arbitrage

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Regulatory arbitrage is a practice where firms take advantage of loopholes in order to circumvent unfavorable regulation.

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Bearer Form

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A bearer form is a security not registered in the issuing corporation's books, but which is payable to its bearer, that is, the person possessing it.

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Financial Markets Definition

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Financial markets refer broadly to any marketplace where the trading of securities occurs, including the stock market and bond markets, among others.

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Trading Ahead Definition

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Trading ahead occurs when a market maker trades securities from his firm's account instead of matching available bid and ask orders from market investors.

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Local Exchange Trading Systems Definition

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Local exchange trading systems are locally organized economic organizations that allow members to participate in the exchange of goods and services.

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Reload Option Definition

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A reload option is a type of employee compensation in which additional stock options are granted upon the exercise of the previously granted options.

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AUTEX Definition

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Autex is an electronic platform from Thomson Financial that allows potential buyers or sellers of a large block of shares to identify each other.

Backspread Definition

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A backspread is s a type of option trading plan in which a trader buys more call or put options than they sell.

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Forex Account Definition

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Opening a forex account is the first step to becoming a forex trader.

Weighted Average Definition

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A weighted average is a calculation that takes into account the varying degrees of importance in the numbers in a data set.

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Absolute Priority

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Absolute priority is a rule that stipulates the order of payment in the event of liquidation among creditors and shareholders.

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Diversified Fund

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A diversified fund is a fund that is broadly diversified across multiple market sectors or geographic regions.

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How to Evaluate a Roboadvisor

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With the addition of roboadvisors, investors have a variety of new choices when it comes to how they find help in managing their assets.

Is An Online Financial Advisor Right For You?

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Is an online adviser right for you? As with most questions in financial planning, the answer is 'it depends.' Here are a few thoughts to consider.

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Away From The Market Definition

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Away-from-the-market order is a limit order where the buy limit order is lower, or the sell limit order is higher, than the current market price.

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Confederate Dollar (CSD) Definition

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The Confederate dollar (CSD) was the legal tender of the eleven states that comprised the Confederate States of America during the U.S. Civil War.

Subindex Definition

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In financial markets, a subindex tracks of a group of securities, which are part of a larger index, based on common sub-characteristics.

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E-Mini Definition

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E-mini is an electronically traded futures contract that is a fraction of the value of a corresponding standard futures contract.

Key Rate Definition

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The key rate is the specific interest rate that determines bank lending rates and the cost of credit for borrowers.

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PKR (Pakistani Rupee) Definition

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The PKR is the symbol for the Pakistani rupee.

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Warrant Premium Definition

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The warrant premium represents the cost of purchasing a share through the warrant, compared to buying the share directly through the open market.

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Forex Chart Definition

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A forex chart graphically depicts the historical behavior, across varying time frames, of the relative price movement between two currency pairs.

Dollar-Bull Definition

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A dollar-bull is an investor who is optimistic about the value of the U.S. dollar (USD) and expects it to appreciate versus other major currencies.

RSD (Serbian Dinar)

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The RSD (Serbian dinar) is the ISO currency code for the official currency of the Republic of Serbia and is subdivided into 100 para.

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Fully Funded

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"Fully funded" is a term that describes when a pension plan has sufficient assets to provide for all accrued benefits.

Stabilization Policy Definition

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Stabilization policy is a government strategy intended to encourage steady economic growth, even price levels, and optimal employment numbers.

Extendable Swap Definition

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An extendable swap has an embedded option that allows either party to extend that swap, on specified dates, past the original expiration date.

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VeChain

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VeChain is a blockchain platform that aims to improve business operations by enhancing the tracking of processes and products.

Disruptive Technology Definition

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Disruptive technology significantly alters the way businesses or entire industries operate.

Virtual Currency

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Virtual currency is a form of digital currency that represents monetary value in electronic form and mostly remains outside of regulatory purview.

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Form 1040EZ Definition

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Form 1040EZ: Income Tax Return for Single and Joint Filers with No Dependents was the shortest version of form 1040, designed for taxpayers with basic or simple tax situations.

Easy Money Definition

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Easy money is when the Federal Reserve allows cash flow to build up within the banking system, lowering interest rates and making it easier to loan money.

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Bank Interest Rates: Which Banks Pay The Best Interest Rates on Savings Accounts

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Online banks offer the best savings account interest rates, but all banks offer the same features, so it pays to read the fine print.

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Black Box Model Definition

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A black box model is a system using inputs and outputs to create useful information, without any knowledge of its internal workings.

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Why IPO Class of 2019 Has Become As Risky As Dotcom Bust Stocks

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Mountains of IPO cash have been raised by unprofitable companies, creating scary parallels with the dotcom bubble of the late 1990s.

How risky are futures?

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Futures as an investment asset are not inherently riskier than other investment assets, such as equities or currencies.

Why Debt-Laden Stocks Leading S&P 500 Risk Major Reversal

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These companies' leverage may be boosting the risk for individual stocks and the market.

Bull Market in M&A Threatened as Deals Fall to 3-Year Low

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Merger activity is plunging in the U.S. and globally amid rising economic and regulatory uncertainties.

What Are the Top Social Security Scams Targeted at the Elderly?

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Prevent Social Security scams by learning to recognize the most common types of tricks that target senior citizens receiving benefits.

Equation of Exchange Definition

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The equation of exchange is a model that shows the relationship between money supply, price level, and other elements of the economy.

Business Logic

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Business logic is the custom rules or algorithms that handle the exchange of information between a database and user interface.

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Average Up Definition

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Average up is the process of buying additional shares in a stock that an investor already owns, at a higher price.

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Best Bid Definition

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Best bid is the highest quoted bid for a particular security among all bids by competing market makers and participants.

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Capitation Payments Definition

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Capitation payments are monthly payments received by a physician, clinic or hospital per patient enrolled in a health plan with a capitated contract.

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Free Trade Area Defintion

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Free trade areas are groups of countries which sign free trade agreements to facilitate trade and reduce trade barriers.

Mode Definition

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The mode is a statistical term that refers to the most frequently occurring number found in a set of numbers.

Key Reasons to Invest in Real Estate

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Investor sentiment has soured on the real estate sector has since the 2008 economic crisis, but it may be time to reconsider investing in real estate.

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