EU urges US to draft joint rule book to rein in tech giants

first_imgBRUSSELS (AP) — The European Union is urging U.S. President Joe Biden to help draw up a common rule book to rein in the power of big tech companies like Facebook and Twitter and combat the spread of fake news. European Commission President Ursula von der Leyen said in a speech to the Davos World Economic Forum on Tuesday that the way online platforms are doing business impacts on “our democracies, our security and on the quality of our information.” Meanwhile. Hungary’s justice minister says her government wants to place restrictions on tech giants that she said arbitrarily silence users of online platforms, including by suspending the accounts of government leaders like former U.S. President Donald Trump.last_img

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Investors question government’s transparency in handling COVID-19 crisis

first_imgInvestors are questioning the government’s response to the COVID-19 pandemic in Indonesia amid a selling spree on the domestic stock market as the country records rapid increases in the number of confirmed cases and death toll.They expect the government to take swift action in containing the novel coronavirus spread while demanding more data transparency.“The lack of a swift response from the government to the situation is what is causing investor confidence to decline right now,” Sucor Sekuritas head of business development Bernadus Wijaya told The Jakarta Post on Thursday. The government appeared to have changed gear following widespread criticism of its first response to the pneumonia-like illness. Jokowi had previously allowed his trusted Health Minister Terawan Agus Putranto and several other high-ranking officials to confidently declare that the country was “immune” to the virus, disregarding the 2 million Chinese tourists who visited Indonesia annually and the lack of testing in the country.Read also: Despite low airfares, people avoid travel as fears grow amid COVID-19 outbreakMarket players, however, seemed to take the statements with a grain of salt as they steadily abandoned the domestic stock market from late February,­­­ even before the first COVID-19 case in Indonesian soil was discovered.The Jakarta Composite Index (JCI) has lost almost 35 percent of its value so far this year as it closed Thursday’s session 5.2 percent lower at 4,105.42, the lowest level since September 2013. Foreign investors have recorded a net sell of around Rp 9.46 trillion (US$597.22 million) so far this year.Anugerah Mega Investama director Hans Kwee said the lack of confidence among investors was also caused by the government’s opaque COVID-19 data revealed to the public.“Some investors, like the public, are questioning the accuracy of the government’s data on the illness’ development in the country,” he told the Post over the phone.Read also: Indonesia scrambles to contain coronavirus as most hospitals not readyEven though the government updated the COVID-19 cases daily, not all analysts are entirely confident about the data. Moreover, the government is still reluctant to release detailed history of the places that patients have visited in the days before they contracted the virus, further complicating the public’s efforts to take precautionary measures to protect their health.The lack of transparency, Hans said, was worsening the already bad situation in the capital markets. Global investors have expressed concerns that the virus spread could trigger a global recession as it disrupts business activity worldwide, including in Indonesia.Read also: ‘We don’t want people to panic’: Jokowi says on lack of transparency about COVID casesFinance Minister Sri Mulyani Indrawati said the country’s economic growth might drop to just 4.5 percent in the first quarter, further slowing from the 4.97 percent recorded in last year’s fourth quarter.Bank Indonesia (BI) also revised down on Thursday its economic growth projection to between 4.2 and 4.6 percent this year, which would be the lowest levels since 2005. The figure is far lower than last month’s projection of between 5 and 5.4 percent.Faisal Nugraha, a 26-year old bank employee who has invested in the stock market for six years, admitted that the government’s lack of detailed information on the COVID-19 cases was what caused him to be reluctant to invest more money in the capital market.“It feels as if the government is only publishing data that will advantage them in some way, like increasing the number of cases to make the virus mortality rate decline,” he said.Read also: To buy it or not: Retail investors are torn amid volatile stock marketFaisal said he was pessimistic that the government would be able to handle the situation well and restore his confidence in the capital market.“I won’t invest my money in the capital market until the coronavirus is contained because looking at the external sentiment and the way the government is handling the issue, I’m not so sure that the capital market will recover anytime soon,” he said.Topics : The government, he went on to say, should act faster in preventing the infection spreading by testing more people for the virus to help restore investor confidence in Indonesian assets.Read also: Businesses call for transparent action in handling novel coronavirusIndonesia reported 82 new confirmed cases in a day, bringing the total infected number to 309 people as of Thursday afternoon. The fatality number, meanwhile, increased to 25.President Joko “Jokowi” Widodo ordered his subordinates on Thursday to perform rapid tests for COVID-19 across the country in a bid to accelerate detection of the disease.last_img read more

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Update on the latest in sports:

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditPANTHERS-MCCAFFREYAP source: Panthers make McCaffrey highest-paid running backCHARLOTTE, N.C. (AP) — The Carolina Panthers have rewarded Christian McCaffrey for his production and versatility, making him the highest-paid running in the NFL. Without funding from McDonald’s and Credit One Bank, Ganassi seemingly will be forced to dump Larson in favor of a different driver.McDonald’s has partnered with CGR for nearly a decade and sponsors the team’s No. 42 Chevrolet in the Cup Series. Ending its relationship with Larson would make it next to impossible for Ganassi to stick with Larson behind the wheel. NASCAR ordered Larson, who is half Japanese, to complete a sensitivity training course before he can be eligible for reinstatement.Larson apologized in a video posted on his social media accounts.VIRUS OUTBREAK-SPORTSGet ready for the Madrid Virtual Open —Washington State athletic director Pat Chun, head football coach Nick Rolovich and men’s basketball coach Kyle Smith are taking voluntary 5% pay cuts through the end of the 2020-21 academic year due to revenue reductions caused by the COVID-19 pandemic. Chun says all Washington State coaches will voluntarily forgo all bonuses or incentives through the end of the next academic year.— New York Post sports photographer Anthony Causi has died from the coronavirus at age 48. Causi was an exceedingly popular sports photographer who covered the city’s teams for 25 years. He was married with two young children. Many of New York’s professional teams and several players posted messages on Twitter expressing sadness, condolences and paying tribute to him.— The Cleveland Browns will donate net proceeds from sales of their new jerseys to a fund aiding health care professionals, first responders and others who have selflessly served during the COVID-19 pandemic. The team launched the Hats Off to Our Heroes Fund on Monday, two days before it will reveal the new uniforms. The Browns said the team will commit 100 percent of the proceeds “for a significant period of time” to the fund.— Spanish soccer club Real Sociedad (ray-AL’ soh-see-ay-DAHD’) is going back on its plan to resume practicing at the team’s training center during the coronavirus pandemic. The club says it made the decision after discussions with the Spanish government. Spain is starting to loosen some of its lockdown measures this week by allowing non-essential workers to return to their activities while observing social-distancing guidelines.— IOC President Thomas Bach tells a German newspaper that the Olympic body will face “several hundred million dollars” of added costs because of the postponement of the Tokyo Games. Estimates in Japan place the overall cost of the postponement at between $2 billion-$6 billion. All of those costs will be borne by the Japanese side except for the IOC portion. Bach says he is confident the Olympics could be held in 2021 despite the current pandemic caused by the coronavirus. In other NFL news:—Former NFL quarterback Tarvaris Jackson has died in a one-car crash outside Montgomery, Alabama. He was 36. The 2012 Chevrolet Camaro that Jackson was driving went off the road, struck a tree and overturned at 8:50 p.m. Sunday. Jackson was hired as quarterbacks coach for Tennessee State last season after a 10-year NFL career with the Seattle Seahawks, Minnesota Vikings and Buffalo Bills.—The NFL and its players union have agreed to conduct “virtual” offseason workout programs until every team is permitted to open its facilities. Teams can hold classroom instruction, workouts and non-football educational programs using online platforms. The three-week virtual offseason starts on April 20 and runs through May 15. Teams with a new head coach have the option to also hold a fourth week for a voluntary veterans minicamp.—ESPN and NFL Network will join forces for this year’s NFL draft. They will produce a broadcast that will air on both networks over all three days. The April 23-25 draft was originally scheduled to be in Las Vegas but has been moved due to the coronavirus pandemic. It will now originate from ESPN’s headquarters in Bristol, Connecticut.—The San Francisco 49ers have re-signed cornerbacks Dontae Johnson and Jason Verrett to one-year contracts. Johnson and Verrett played sparingly for San Francisco last season but were brought back for depth in the secondary. Update on the latest in sports: —The mother of Minnesota Timberwolves center Karl-Anthony Towns has died due to complications from COVID-19. Jacqueline Cruz-Towns had been fighting the virus for more than a month. The native of the Dominican Republic was a fixture at Timberwolves games from the start of her son’s NBA career in 2015. Karl Towns Sr., the father of the two-time All-Star, was also hospitalized with the virus but has since recovered.—The NBA has been sending evaluations to players considering leaving college early and entering the draft. The league will do so for all underclassmen who ask before Thursday’s deadline. The task falls to the league’s Undergraduate Advisory Committee, which understands that what it says in these uncertain times may carry even more weight than usual. No date has been set for the draft.—Houston Rockets star Russell Westbrook has donated 650 computers to children in need so they can continue learning with schools shut down because of the new coronavirus. Westbrook’s Why Not? Foundation teamed with Comp-U-Dopt and Houston mayor Sylvester Turner’s office of education to provide computers to underprivileged children across the city.In NBA draft news:— Kansas guard Devon Dotson is entering the NBA draft after leading the Big 12 Conference in scoring his sophomore season. The 6-foot-2 guard averaged 18.1 points, 4.1 rebounds, 4 assists and 2.1 steals while helping Kansas go 28-3 and win its final 16 games. The WWE-backed XFL canceled the rest of its return season last month because of the coronavirus pandemic. It suspended operations and laid off its employees Friday.The XFL had eight franchises this season and played five games out of a planned 10-game schedule. It drew decent TV ratings early on and had deals with ESPN and Fox.NBA-BULLS-FRONT OFFICEBulls fire Forman, announce Karnisovas hire, reassign PaxsonCHICAGO (AP) — The Chicago Bulls fired general manager Gar Forman on Monday, while officially hiring Denver Nuggets GM Arturas Karnisovas as their executive vice president of basketball operations and moving John Paxson into an advisory role. UNDATED (AP) — Rafael Nadal and Andy Murray are among 12 players confirmed to play in the virtual Madrid Open tennis tournament, April 27-30.The online competition will be played from players’ homes and is expected to be broadcast live on TV and social media channels.There will be 150,000 euros ($164,000) distributed in prize money for each of the men’s and women’s events. The winners then decide how much they want to donate to tennis players who are having a hard time financially without any tournaments to play.Another 50,000 euros ($55,000) will be donated to reduce the social impact of the pandemic.In other virus-related developments: April 13, 2020 Associated Press — Kentucky guard Immanuel Quickley will enter the NBA draft and sign with an agent, leaving school after a breakout season in which he was an honorable mention All-America selection by The Associated Press. Southeastern Conference coaches voted the 6-foot-3 sophomore Player of the Year after he wasn’t picked for any preseason all-conference teams. Quickley averaged a team-high 16.1 points per game last season with double-figure efforts in his final 20 contests.NASCAR-LARSON SLURKyle Larson suspended for racial slur in virtual raceCHARLOTTE, N.C. (AP) — Kyle Larson’s racial slur cost him his two primary NASCAR supporters. It likely will cost him his job soon.McDonald’s and Credit One Bank ended their sponsorship of Larson on Monday, a day after he used the N-word during a live stream of a virtual race. The decision came hours after NASCAR and Chip Ganassi Racing suspended Larson indefinitely, his team doing so without pay. The Bulls handed the keys to the 48-year-old Karnisovas last week, hoping he can spark a struggling franchise.Paxson is moving into a background role after nearly two decades as the top basketball decision-maker. He took over as general manager for Jerry Krause in 2003 and was promoted to vice president of basketball operations in May 2009 with Forman — who joined the Bulls as a scout in 1998 — becoming GM.But now, Forman is out. And the future of coach Jim Boylen remains unclear.The Bulls thought they were ready to contend for a playoff spot after combining for just 49 wins the past two seasons. Instead, they were 11th in the Eastern Conference at 22-43 when the NBA suspended play because of the COVID-19 pandemic.In other NBA news: The team agreed to a four-year, $64 million contract extension with McCaffrey on Monday, a person familiar with the contract negotiations told The Associated Press.The person spoke to the AP on condition of anonymity because the Panthers have not announced the extension. Details on how much of the contract is fully guaranteed were unavailable.The $16-million-a-year deal eclipses Ezekiel Elliott’s contract with the Dallas Cowboys that is worth $15 million per season.The extension keeps McCaffrey, 23, tied to the Panthers through the 2025 season. The coming season would be the final year of his rookie contract, and Carolina had the option to pick up a fifth year in 2021.It appeared to a matter of when, not if, the extension was coming after Panthers coach Matt Rhule made it clear last week that he viewed McCaffrey as a vital part of the franchise moving forward. —The Los Angeles Rams have signed kickers Lirim Hajrullahu and Austin MacGinnis as potential replacements for longtime incumbent Greg Zuerlein. Hajrullahu has spent the past six seasons playing for three Canadian Football League teams. MacGinnis kicked in the defunct Alliance of American Football and in the defunct XFL over the past 14 months.XFL-BANKRUPTCYXFL files for bankruptcy, cites COVID-19 crisisUNDATED (AP) — The XFL has filed for bankruptcy, likely spelling the end of the second iteration of the league.The filing Monday in U.S. Bankruptcy Court in Delaware estimates the organization has between $10 million and $50 million in both assets and liabilities. Former coaches Bob Stoops and Marc Trestman are among the creditors with the largest unsecured claims. — Athletes completing doping bans over the next year will be eligible to compete in the postponed Tokyo Olympics. It’s an unintended effect of the coronavirus pandemic that has some crying foul. Irish race walker Brendan Boyce says, “It doesn’t seem like a fair punishment.” The 2020 Olympics were officially postponed last month for one year, with the opening ceremony now set for July 23, 2021.— Premier League soccer club Tottenham has reversed a decision to use government money to fund some staff salaries during the coronavirus pandemic. Staff put on furlough during the pandemic receive 80% of their salaries up to a maximum of 2,500 pounds ($3,000) per month from the government. And Tottenham had said non-playing staff not being furloughed would have their pay cut 20%.— A lower-level German soccer team has sold more than 125,000 tickets to a fictional game. Fourth-division club Lokomotive Leipzig says it has set an “attendance record” by selling so many tickets for a “virtual game against an invisible opponent on May 8.” The former East German league club has been selling symbolic tickets for 1 euro ($1.10).,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6last_img read more

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