The Chicago City Council voted Wednesday to ban the sale of flavored
vaping products in the city.The measure passed by a vote of 46-4.To get
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Critics have said flavored vaping products are marketed to young
people. »Please don’t hide behind vaping is a cessation; they’re
targeting our children, and it will cost lives, » 19th Ward Alderman
Matt O’Shea said.
« With flavors like candy and chocolate, these products are designed
to entice youth, and we as a City have a responsibility to do everything
we can to prevent that from happening, » Lightfoot said in a statement.
« This ordinance is an important step, but more must be done to protect
our young people’s health from vaping and the tobacco industry’s
efforts to have them to develop life-threatening habits. »
The ordinance specifically targets the taste or aroma of things like
menthol, mint, wintergreen, chocolate, vanilla, cocoa, candy or dessert.
Lightfoot’s office said studies show 80% of youth tobacco users started with a flavored product.
« I congratulate the City Council for addressing flavors
comprehensively in this vape-focused ordinance, rather than carving out
specific flavors, » Chicago Department of Public Health Commissioner Dr.
Allison Arwady said. « And I look forward to seeing this body take this
same comprehensive approach to flavors in the future, as together we
address combustible products and work to improve the health and life
expectancy of all Chicagoans. »Some opponents said the city can’t afford
to lose any revenue and people can cross over the border to buy them.
« At a time when we’re looking at anywhere between a $1.2 and 1.5
billion deficit, we should be doing everything we can to keep as much
revenue in the city of Chicago, » 41st Ward Alderman Anthony Napolitano
said.
« We should not trade off the health of young people for the
budget, » 48th Ward Alderman Harry Osterman said. »An ounce of
prevention can be a pound of cure later on, » 16th Ward Alderman
Stephanie Coleman said. »As a business owner from between borders,
Chicago, between suburbs, it’s really unfair if people can go down the
street, just grab them from two blocks down, and they can’t have them
over here in their neighborhood, » said Shayef Abdulla, co-owner of
Hookah Kings.
The ban does not address flavored tobacco products, and the decision
is being called unfair and hypocritical. There had been discussion about
also banning menthol cigarettes and e-cigarettes, and the city is still
pursuing that.
Lightfoot said her father was a long-time smoker and suffered the effects. She acknowledged some compromises were necessary.
« The tobacco industry is looking for his next generation of people
who are addicted to nicotine, and we as a city have a responsibility to
do everything that we can to keep that from happening, » Lightfoot said
after the council meeting.
In a rising salary cap environment, productive players with options
in their contracts are heavily incentivized to test free agency. It's
common sense. Consider Kyrie Irving. When he signed his rookie extension
in the summer of 2014, the salary cap was $63 million. Last offseason,
when he had to decide whether to pick up the option on the final season
of that contract, the cap was over $109 million. Over the past
half-decade, the cap has grown so rapidly that, short of injuries or
rapid decline, player options have largely been a formality. Players
wanted to get to free agency as quickly as possible. To get more news
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But in 2020? Most veterans will want to sit out. The spending spree of
2019 deprived most teams of 2020 cap space even before the pandemic.
Now? The best-case scenario is likely a cap freeze, and a decline is not
off the table. Those same player-options have become life rafts. Nobody
wants to dip their toe into such an uncertain free-agent market. In
2019, 12 of the league's 26 player options were declined.
That number is going to be substantially lower this time around.
There
are 28 player options on the board, according to Spotrac. The
overwhelming majority will be exercised, most without a second thought.
But of those 28 options, nine stand out as possible opt-outs. Some make
significantly more sense than others, and we could see a surprise or
two, but the total number will wind up being closer to four or five.
Below are the players who could credibly improve their financial
standing through free agency rather than passivity, and how their teams
might respond to such a decision. But first, a quick glance at the
options that we should expect to be exercised without much thought:
Davis is the only player on this list that is guaranteed to decline his
player option.
That option would pay him $28.7 million. Even if
he wants to stay with the Lakers, he is virtually assured a sizable
raise by opting out of his deal and signing a new one. Davis, as an
eight-year NBA veteran, is eligible for a contract starting at 30
percent of the salary cap. Under last season's $109.14 million cap, that
would have paid him over $32.7 million. The expectation right now,
despite the coronavirus pandemic damaging the league's finances, is that
the cap stays the same. Even if it falls, it would have to drop over
$13 million to cost him enough money to opt into that $28.7 million.
There isn't going to be a $95 million cap, therefore, Davis is opting
out and taking the raise.
U.S. Customs and Border Protection officers working at the
Dallas-Fort Worth port of entry seized a shipment of counterfeit
footwear including several pairs of limited-edition basketball shoes
that retails for $2,000 per pair, the agency announced Monday.To get
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The shipment -- valued at more than $4.3 million -- included more
than 1,800 pairs of counterfeit Limited Edition “Dior X Air Jordan 1”
shoes destined for Mexico.
CBP says its officers targeted 60 boxes that originated from Hong Kong
and were manifested as “Ball Golf” for an exam. The inspection revealed
several styles of footwear bearing the registered trademarks of Nike and
Adidas.
Due to the poor quality of workmanship, incorrect packaging, and
previous experience with similar products, CBP says officers determined
the footwear were not authentic items.
“Counterfeiters trafficking in phony merchandise are not concerned about
the American consumer or the damage their fake goods can do to our
economy,” said CBP Port Director Timothy Lemaux.
“CBP will
continue to take every opportunity to intercept illegitimate goods and
disrupt transnational criminal enterprises seeking to fund criminal
activities with counterfeit or pirated merchandise.”
CBP contacted the various trademark holders for merchandise
verification, and the shipment’s consignee was given an opportunity to
submit proof of Trademark Licensing before CBP seized the shipment.
In fiscal year 2019, Department of Homeland Security says its agencies
seized counterfeit footwear for intellectual property rights that
recorded a Manufacturer Suggested Retail Price of more than $37 million.
The Nike Air Jordan 1 High sneakers, described as the "rarest of the
rare", were used by the Chicago Bulls star in an exhibition game in
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In total, Christies sold nine pairs of Jordan's shoes to
celebrate his 14-year career with the team.
There is a big market for rare trainers and collectors can pay high
prices.
Michael Jordan is considered to be the best basketball player in the
history of the game, and became a global icon in the 1980s and 1990s,
helping to raise the NBA's profile around the world.
A recent Netflix series, "The Last Dance," has renewed interest
in his life.Christies said the shoes, which belonged to US firm Stadium
Goods, were the "greatest" collection of historic Michael Jordan
footwear ever offered at one time.
All the shoes were made by Nike, which sponsored the player for much of
his career.
The Air Jordan 1 High's, which had an estimated sale price of $650,000-
$850,000, were the top lot. During the game in which they were used,
Jordan memorably dunked the basketball so hard that it shattered the
glass backboard.
Carl Webb, a collector from Stoke-on-Trent who
owns 170 pairs of vintage trainers, told the BBC's Wake up to Money that
it had a lot to do with nostalgia.
"Some people collect stamps, some people collect books, for me it's rare
trainers... Knowing you are one of the only people who will have a
certain model feels quite nice."
He said he paid up to £270 for trainers and had only worn 30 of the
pairs he owns, keeping the rest on display in his house.
He said the price of a pair of trainers was usually determined by their
"unavailability" and association with famous people or events.
"There is a resale market [for these shoes], people want to buy trainers
even if they have been worn... And if you pick the right ones they will
hold their value."
A pair of shoes worn by Michael Jordan during a 1985 exhibition game
broke a world record when they sold for $615,000 at an auction.To get
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Auction house Christie's said the Nike Air Jordan 1 High sneakers, worn
by the basketball legend during an exhibition game in Trieste, Italy,
were autographed by Jordan and described by the auctioneer as "a
one-of-a-kind Michael Jordan artifact.
"The shoes were billed as
especially unique due to a shard of glass embedded in the sole of the
left shoe as a result of Jordan shattering a glass backboard with a
forceful slam dunk.
The $615,000 final price for the shoes broke a record set by another
pair of the player's shoes, which sold for $560,000 earlier in 2020.
Christie's said another pair of Jordan's shoes, worn during a 1992 game,
sold for $112,500 as part of the same auction.
South Africa is seeking 95 billion rand ($4.99 billion) from
multilateral lenders to help it fight the COVID-19 pandemic, a senior
Treasury official said on Sunday.To get more news about
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Africa's most advanced economy is talking to the International
Monetary Fund (IMF), World Bank, New Development Bank of the BRICS and
African Development Bank to source funding to contribute to a 500
billion rand rescue package aimed at cushioning the impact of the new
coronavirus on businesses and poor households.
The IMF has said South Africa is entitled to apply for up to $4.2
billion in response to the crisis, and Finance Minister Tito Mboweni
said on Friday the government could negotiate for a facility of “maybe
between $55 and $60 million” at the World Bank.
Dondo Mogajane, director general of the National Treasury, said in an
interview with eNCA television on Sunday that South Africa “will
certainly go” for the IMF funding.
“The World Bank has said ...South Africa can access a loan of about
$50 million, the New Development Bank did say long ago that they have
set aside a billion dollars that we can access and again we will be
accessing that,” Mogajane said.
“All in all, all of these interventions, currently we are looking at
95 billion rand coming from these institutions only for COVID-related
interventions.”
Mogajane said the government has to do everything at its disposal to
make sure the coronavirus is contained, including reprioritising money
from projects that are not a priority for now and looking for new cheap
money.
“I am emphasising new money that is cheap because currently the
discussions obviously should centre around what the term rates are going
to be. That is where we are currently, we are discussing with them
(lenders),” he said.
“The IMF has said upfront that it is 1% interest that is available so we will certainly go for it because it is cheap.”
Mboweni on Friday played down worries in some governing party circles
and within the influential trade union movement that the money would
come with onerous conditions.
An IMF official told Reuters that the emergency funds on offer came with no requirement for a structural adjustment programme.
The economy was in recession when the virus outbreak hit South Africa
and public finances were already strained as the government bailed out
struggling state firms.
South Africa had recorded 4,361 cases, including 86 deaths, with 161,004 people tested for the virus as of Saturday.
Argentina has banned until September ticket sales for commercial flights
as part of its coronavirus response, prompting an industry outcry that
the new measure will put massive strain on airlines and airports.
While the country's borders have been closed since March, the new
decree goes further in preventing until Sept. 1 the sale and purchase of
commercial flights to, from or within Argentina.To get more news about
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The spread of coronavirus “does not allow certainties” for the end of
social isolation measures, which would threaten commercial air
transportation, the decree said.
“It has been understood to be reasonable to set September 1, 2020 for
the purpose of rescheduling regular operations or requesting
authorizations for non-regular operations of passenger air transport
subject to the effective lifting of restrictions imposed on commercial
air transport and operating modalities,” the decree by the National
Civil Aviation Administration said.
Part of the decree's aim is to prevent airlines from ticketing flights not approved by the government.
“The problem was that airlines were selling tickets without having
authorization to travel to Argentine soil,” a spokesman for President
Alberto Fernandez said.
The decision prompted industry groups including ALTA, which lobbies on
behalf of Latin American airlines, to warn that the decree represented
“imminent and substantial risk” to thousands of jobs in Argentina.
“It is our responsibility to express the deep concern generated by the
resolution in question, which was not shared or agreed with the
industry and, furthermore, runs counter to the efforts of all the actors
in the sector to propose and implement a plan for responsible and safe
reactivation that re-establishes commercial activities and an essential
service for the population,” the groups said in a statement.
The presidential spokesman, however, said the decision resulted from a
“consensus between the government and the airline sector.”
The Sept. 1 timeframe was arranged with the airlines “to give time to
our authorities to bring all the Argentines who are abroad and want to
get back,” the spokesman said.
The South American nation had already closed its borders and blocked
entry to foreigners from “affected zones,” including Europe, China and
the United States.
Argentina has been under a national lockdown since March 20. The
government, over the weekend, extended the quarantine until May 10, but
said it had been successful in slowing the rate at which new cases
double.
The British pound has been sluggish recently, being among a group of
non-US currencies that suffered general pressure due to risk aversion
sentiment caused by WTI's decline into negative areas. However, the
pound has now shown obvious resistance to decline.To get more news about
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Despite Markit's service industry PMI in April of 12.3, which was much
lower than the expected 27.8, the pound did not show a sharp decline,
indicating that the market partially digested the epidemic's shock on
Britain's economy. We believe that pound s current exchange rate at an
extremely low range indicates the currency has little room for further
declines. As the global economy gradually recovers, the pound may
rebound significantly.
The negotiators of the United Kingdom and the European Union began
week-long consultations to discuss the relationship between the two
countries after the Brexit, including trade issues. As the epidemic
persists, the possibility of the UK applying for an extension of the
Brexit transition period is also increasing. The market still needs to
pay close attention to how the progress of related matters evolve.
Asian stocks and US futures took a hit as oil prices dropped another 14%
on Tuesday, despite optimistic rises in US stocks as states prepare to
re-open.Oil futures slumped after the largest U.S. oil exchange-traded
fund said it would sell all its front-month crude contracts to avoid
further losses as prices collapse.MSCI's broadest index of Asia-Pacific
shares outside Japan was down 0.3%. Shares in China fell 0.7% and South
Korean shares fell 0.22%.U.S. crude skidded 14.24% to $10.96 a barrel
while Brent crude fell 4.05% to $19.18 per barrel.Visit Business
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TOKYO/NEW YORK (Reuters) - Asian shares and U.S. stock futures dipped
into the red on Tuesday, erasing earlier gains as a renewed decline in
oil prices overshadowed optimism about the easing of coronavirus-related
restrictions seen globally.MSCI's broadest index of Asia-Pacific shares
outside Japan was down 0.3%. Shares in China fell 0.7% and South Korean
shares fell 0.22%.Oil futures slumped after the largest U.S. oil
exchange-traded fund said it would sell all its front-month crude
contracts to avoid further losses as prices collapse.Some investors are
hoping the worst may be over for the world economy as more countries
allow businesses to re-open, but others see reasons to remain cautious,
especially as a coronavirus vaccine has yet to be developed.
“We are less optimistic and expect a slower recovery in the world
economy,” Commonwealth Bank of Australia said in a research note.“The
risk of reintroducing restrictions is a risk to market participants'
optimistic outlook for a quick resumption of normal economic
activity.”All three major U.S. stock averages advanced on Monday and are
all now within 20% of their record closing highs reached in
February.The benchmark S&P 500 is on track for its best month since
1987, after trillions of stimulus dollars helped U.S. equities claw back
much of the ground lost since the coronavirus crisis brought the
economy to a grinding halt.
But some analysts believe gains may be limited unless there is progress in finding treatments for the disease.
From Italy to New Zealand, governments announced the easing of
restrictions, while Britain said it was too early to relax them there.
New York state is not expected to reopen for weeks..Oil prices weakened
again on persistent concerns about oversupply and a lack of storage
space. The front-month contract was trading at lower-than-usual volumes
on Monday as traders moved to later months in futures contracts.U.S.
crude skidded 14.24% to $10.96 a barrel while Brent crude fell 4.05% to
$19.18 per barrel.
Shares of United States Oil Fund LP , the country's largest crude ETF,
fell more than 16% on Monday, after it said it would sell all of its
front-month crude contracts to avoid a repeat of the heavy losses
suffered last week.The U.S. dollar and the euro were little changed as
traders refrained from taking big positions before a Federal Reserve
policy decision due on Wednesday and a European Central Bank (ECB)
meeting Thursday.The Fed has already announced a raft of measures to
lessen the economic blow from the coronavirus pandemic and is expected
to stay on hold this week.The ECB is likely to extend its debt purchases
to include junk bonds and provide a backstop for corporate financing.
Major central banks have responded to the economic slump caused by the
coronavirus by slashing interest rates, buying more government debt,
and taking steps to increase lending to small companies.Elsewhere in
currencies, the Australian dollar traded near a six-week high of $0.6472
as investors continued to cheer the country's progress in containing
the coronavirus.Gold, a safe-haven often bought during times of
uncertainty, fell for a third consecutive trading session in signs of
improving risk appetite.(Reporting by Stanley White in Tokyo and
Chibuike Oguh in New York; Editing by Sam Holmes)
They say you gotta be in it to win it, but an attorney in Arlington,
Va., just took home a $1 million prize after putting in the bare minimum
in the "be in it" column. A press release cited reports that Daniel
Schuman never plays such games of chance, but his wife decided to kick
off the new year on Jan. 1 by buying him a New Year's Millionaire Raffle
from a 7-Eleven in the Ballston neighborhood. It turned out to be one
of three winning tickets in the state worth a million bucks, which the
couple couldn't believe when they checked their ticket.Get more news
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"We saw that the number matched, and we checked again," Schuman told
Virginia Lottery officials. "It was shocking. ... This isn't what we
expected!" Schuman, who picked up his payout on Feb. 20, says he doesn't
know what he'll do with the winnings yet. The 7-Eleven, meanwhile, got
$10,000 for selling the ticket. WUSA 9 notes that Virginia had another
recent holiday winner: A man who purchased a lottery ticket in Manassas
on St. Valentine's Day won $10 million.