Wall St down, Apple sinks on ruling
Photo: ReutersThe S&P 500 has risen about 19 percent this year, buoyed by support from dovish central bank policies and reopening optimism. The Dow Jones Industrial Average fell 0.78 percent to close at 34,607.72 points, while the S&P 500 lost 0.77 percent to 4,458.58. For the week, the S&P 500 lost 1.69 percent, the Dow declined 2.15 percent and the NASDAQ shed 1.61 percent. Friday was the first time since February that the S&P 500 had dropped for five days in a row. The S&P 500 posted 15 new 52-week highs and three new lows; the NASDAQ Composite recorded 55 new highs and 47 new lows.
Source:Taipei Times
September 11, 2021 15:56 UTC
Anger at biennial World Cup bid mounting
Anger at biennial World Cup bid mountingAFP, LAUSANNE, SwitzerlandFIFA risks plunging the world of soccer into a new conflict with its proposal to hold the World Cup every two years instead of four, raising the possibility of a divorce with leading clubs and the powerful European leagues. FIFA’s central argument is that a biennial World Cup would create more profits that could be distributed to federations in Africa, Asia and South America, who have a greater reliance on FIFA funds than the wealthy European leagues. So good luck with a World Cup like that,” he told the Times newspaper on Thursday. Major European clubs have opposed it as well. Perhaps sensing it was losing the battle of public opinion, FIFA gathered together a group of illustrious former players and coaches in Doha this week to defend the idea of a biennial World Cup.
Source:Taipei Times
September 11, 2021 15:56 UTC
Oil caps third weekly gain with Ida’s impact in view
Oil caps third weekly gain with Ida’s impact in viewBloombergOil gained for a third week, as investors focused on the ongoing production shut-ins in the US Gulf of Mexico because more refineries have resumed operations nearly two weeks after Hurricane Ida tore through the region. Brent crude for October delivery was up 2.06 percent at US$72.92 a barrel, posting a weekly increase of 0.43 percent. Photo: ReutersMore than 1 million barrels a day of US offshore crude production remains shut in after Ida swept through the area nearly two weeks ago. Meanwhile, more Louisiana refineries are resuming operations, raising demand for crude oil. China’s bold, but vague declaration to release oil reserves from its massive strategic stockpiles has some traders questioning the lasting impact of such a move by the world’s biggest crude importer.
Source:Taipei Times
September 11, 2021 15:56 UTC
Ministry mum on TECRO name change
The US is “seriously considering a request from Taiwan to change the name of its mission in the US capital from ‘Taipei Economic and Cultural Representative Office’ [TECRO] to ‘Taiwan Representative Office,’” the paper reported on Friday, citing several anonymous sources close to the matter. The nameplate of the Taipei Economic and Cultural Representative Office in the US is pictured in an undated photograph. The ministry yesterday said it has no comment on the report. The government would continue to steer Taiwan-US relations pragmatically, and in accordance with mutual trust and shared interests, it said. The office, to be named “the Taiwanese Representative Office in Lithuania,” is to be located in Vilnius, Wu has said.
Source:Taipei Times
September 11, 2021 15:56 UTC
National Day celebrations to be smaller this year
National Day celebrations to be smaller this yearStaff writer, with CNADouble Ten National Day celebrations would this year have fewer participants than last year and the general public might be excluded, Deputy Minister of the Interior Chen Tsung-yen (陳宗彥) told a news event on Wednesday to unveil the logo for the celebrations. Banners for the Double Ten National Day celebrations in Taipei are pictured on Wednesday last week. Moreover, the number of participants in a National Day evening banquet in Hsinchu City on Oct. 9 would be limited, he said, without giving a specific figure. People attending the National Day fireworks in Kaohsiung on Oct. 10 would have to remain in designated areas, Chen said. The logo also bears the words “Taiwan National Day 2021,” which has drawn criticism from the Chinese Nationalist Party (KMT) over the omission of the country’s formal name, the Republic of China.
Source:Taipei Times
September 11, 2021 15:56 UTC
Dollar gains with Treasury yields as Fed policy in focus
Dollar gains with Treasury yields as Fed policy in focusReuters, NEW YORKThe US dollar on Friday rose in line with higher US Treasury yields, as investors focused on when the US Federal Reserve is likely to begin reducing its asset purchases. The greenback has risen from a one-month low on Friday last week after jobs data for last month showed that jobs growth slowed, while wage inflation rose more than expected. Fed officials are grappling with rising price pressures while jobs growth remains below their targets. The Wall Street Journal wrote that Fed officials would seek to make an agreement at the Fed’s meeting this month to begin paring bond purchases in November. The euro on Friday fell 0.07 percent to US$1.1816, a day after the European Central Bank said it would trim emergency bond purchases over the coming quarter.
Source:Taipei Times
September 11, 2021 15:56 UTC
US soccer head vows to ‘equalize’ World Cup payments
US soccer head vows to ‘equalize’ World Cup paymentsAFP, LOS ANGELESThe US Soccer Federation aims to “equalize” World Cup prize money for its men’s and women’s national teams as part of efforts to settle ongoing litigation with its women players, federation president Cindy Parlow Cone said on Friday. The question of World Cup prize money formed a prominent part of a lawsuit filed by the US women’s soccer team in 2019, which accused the body of “stubbornly refusing” to pay it’s men and women’s players equally. The 2019 lawsuit cited the discrepancy in World Cup prize money payments paid to the two teams in 2014 and 2015. The US men received US$5.375 million for reaching the round of 16 at the 2014 World Cup, while the women received US$1.725 million for winning the 2015 tournament. The federation has said that its hands are tied because the prize money is set by FIFA, which awarded US$38 million to France for winning the 2018 men’s World Cup in Russia, but only US$4 million to the American women for winning the 2019 Women’s World Cup.
Source:Taipei Times
September 11, 2021 15:56 UTC
FEATURE: Cat abuse case puts spotlight on animal rights laws
FEATURE: Cat abuse case puts spotlight on animal rights lawsStaff writer, with CNAAfter 11 days of intensive care, Tea Tea (茶茶), a tabby cat in New Taipei City, succumbed to his injuries on Aug. 28. Tea Tea was scalded so badly that he had lost a lot of his fur and his ears were curled, Fan said. The low conviction rate was a result of improper law enforcement, namely a lack of animal protection police, animal advocates said. Cheng’s office said that there are three categories of people, either full-time or part-time staff, handling animal protection affairs: animal shelter staff, veterinarians stationed at shelters and animal protection inspectors. Increased civic participation, including help from animal groups, is needed to raise awareness about animal protection and curb abuses, she said.
Source:Taipei Times
September 11, 2021 15:56 UTC
Greek winemakers delve the depths of underwater aging
Greek winemakers delve the depths of underwater agingBy Vassilis Kyriakoulis / AFP, NAOUSSA, GreeceWinemakers in northern Greece are diving into the unknown by plunging hundreds of bottles of their wine into the depths of a local river. As a band ceremoniously played traditional Greek songs, a crane lowered a large metal crate holding about 500 bottles of wine from off the riverbank. A metal crate containing 500 bottles of Xinomavro wine is lowered into the Arapitsa River in Naousa, Greece, on Sept. 5. Photo: AFPAbout 22 makers of Xinomavro, a wine made from a dark-skinned grape variety, proudly watched, hoping the water cellar will broaden the varieties of the products. About 5,000 tonnes of Xinomavro wine are produced there annually.
Source:Taipei Times
September 11, 2021 15:56 UTC
Afghan women could still play, board chairman says
Afghan women could still play, board chairman saysAFP, SYDNEYWomen could still be allowed to play cricket, the chairman of Afghanistan’s Cricket Board on Friday told an Australian broadcaster in an apparent backflip on the Taliban’s hardline stance. “We will give you our clear position on how we will allow women to play cricket,” he told SBS Radio Pashto, the broadcaster reported on its English-language Web site. Under International Cricket Council (ICC) regulations, nations with Test status must also have an active women’s team. Despite reports that many of the women’s team were in hiding in Kabul and that members of the Taliban had come looking for them, Fazli insisted they were safe. “The women cricket coach Diana Barakzai and her players are all safe and living in their home country,” he told SBS.
Source:Taipei Times
September 11, 2021 09:56 UTC
Pangolin aged 23 dies at Taipei Zoo
Pangolin aged 23 dies at Taipei ZooBy Tsai Ya-hua and Jonathan Chin / Staff reporter, with staff writerTaipei Zoo’s pangolin Chuanpang (穿胖), the world’s oldest and most virile scaly anteater on record, died on Wednesday of kidney failure, the zoo said yesterday. Chuanpang was 23 years and nine months old at the time of his death, the zoo said. The pangolin had kidney problems since 2018, when veterinarians first noticed that it was losing weight, the zoo said. Pangolin named Chuanpang is pictured at Taipei Zoo in an undated photograph. “Chuanpang lived a legendary life as a key contributor to pangolin conservation, in addition to being our pride and joy,” zoo spokesman Eric Tsao (曹先紹) said in a statement.
Source:Taipei Times
September 10, 2021 15:56 UTC
Vietnam exporters riled as rules hit supply chains
Vietnam exporters riled as rules hit supply chainsBloombergVietnam’s tough policies to control COVID-19, which have shuttered factories and stunted output, are being criticized by overseas industries and within the government as a threat to exports and investment. The European Chamber of Commerce (EuroCham) in Vietnam vice chairman Nguyen Hai Minh said that the group estimates 18 percent of its members have relocated some production to other countries to protect their supply chains. Exporters could face difficulties restoring lost international business after the pandemic is contained, it said. More than 571,000 domestic virus patients have been reported since the latest outbreak began in late April, with more than 14,400 fatalities, according to the Vietnamese Ministry of Health. The nation of 98 million has administered nearly 25 million COVID-19 vaccine doses, with 4.3 percent of the population fully vaccinated, the health ministry said.
Source:Taipei Times
September 10, 2021 15:56 UTC
Shipping giant freezes rates amid trade chaos
Shipping giant freezes rates amid trade chaosCOST CONCERNS: With an eightfold rise in shipping fees during the pandemic, one carrier is acting on pressure coming from customers and regulatorsBloombergThe world’s third-largest container carrier is capping spot rates for ocean freight for the next five months, it said on Thursday, yielding to pressure from some customers and regulators who are concerned that global trade disruptions have pushed the cost of shipping too high. “Although these market-driven rate increases are expected to continue in the coming months, the group has decided to put any further increases in spot freight rates on hold for all services operated under its brands,” CMA CGM SA said in a statement on its Web site. Global supply chains, with container shipping as their backbone, are struggling to keep pace with the demand for goods and overcome labor disruptions caused by COVID-19 outbreaks. Separately on Thursday, the Federal Maritime Commission in Washington announced the membership of its newly formed National Shipper Advisory Committee. The panel of 24 members representing exporters and importers would “advise the commission on policies relating to the competitiveness, reliability, integrity, and fairness of the international ocean freight delivery system.”
Source:Taipei Times
September 10, 2021 15:56 UTC
AmCham China wants summit progress on trade
AmCham China wants summit progress on tradeBloombergUS firms in China are hoping for a meeting between US President Joe Biden and Chinese President Xi Jinping (習近平) this year, a survey showed, as they look for relief from trade barriers raised during the administration of former US president Donald Trump. Another 47 percent wanted the removal of tariffs, with more than three-quarters of companies complaining that measures levied during the trade war were impacting their operations. Chinese President Xi Jinping, left, and US President Joe Biden are pictured in a combination of photographs from July 3, 2019, and May 17 respectively. About 54 percent of respondents called for “regularized government-to-government communication” to rebuild relations, while 38 percent wanted a Biden-Xi summit this year. The survey suggested that companies were feeling more pain from tariffs.
Source:Taipei Times
September 10, 2021 15:56 UTC
Ethan Hayter wins stage, takes Tour of Britain lead
Ethan Hayter wins stage, takes Tour of Britain leadAFP, LONDONEthan Hayter on Thursday won stage five of the Tour of Britain in a reduced sprint to move back into the overall lead of the race. Wout van Aert was caught on the wrong side of the incident in the leader’s jersey and so with the bonus seconds Hayter moved back in front overall, eight seconds ahead of the Belgian. “On this stage, I know so many of the roads, and it’s the Tour of Britain, so it’s amazing to win as a British rider,” Manchester-based Hayter said. “I owe it to my teammates.”Thursday’s 152km stage from Alderley Park took the peloton into the Peak District, but a sprint finish was always anticipated given the long flat run into Warrington. “I didn’t actually get a great run at the finish, I couldn’t quite believe the situation, but I just put it in the biggest gear and it was enough,” Hayter said.
Source:Taipei Times
September 10, 2021 15:56 UTC