Archive for the ‘Media Control’ Category

Abramovich says he has not asked for Chelsea loan to be repaid – Reuters

Russian billionaire and owner of Chelsea football club Roman Abramovich arrives at a division of the High Court in central London October 31, 2011. REUTERS/Andrew Winning/File Photo

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May 5 (Reuters) - Russian oligarch Roman Abramovich on Thursday denied media reports that he has asked for his loan to Chelsea football club to be repaid, saying that the suggestions are "entirely false".

Premier League Chelsea were put up for sale by Abramovich following Russia's invasion of Ukraine and before sanctions were imposed on him by the British government.

A consortium led by LA Dodgers part-owner Todd Boehly has been in negotiations to buy the club for $3 billion while British billionaire Jim Ratcliffe is not giving up on a bid despite apparent rejection from the U.S. bank handling the sale. read more

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The loan Abramovich made to Chelsea is reported to total 1.5 billion pounds ($1.85 billion). read more

"Firstly, Mr Abramovich's intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed," his spokesperson said in a statement published on Chelsea's website.

"Secondly, Mr Abramovich has not asked for any loan to be repaid to him such suggestions are entirely false as are suggestions that Mr Abramovich increased the price of the club last minute.

"As part of Mr Abramovich's objective to find a good custodian for Chelsea FC, he has however encouraged each bidder throughout this process to commit investing in the club."

The spokesperson added the loan has also become subject to European Union sanctions and requires additional approvals.

"That means that the funds will be frozen and subject to a legal procedure governed by authorities," the statement read.

"These funds are still earmarked for the (Chelsea) Foundation. The government are aware of these restrictions as well as the legal implications.

"To be clear, Mr Abramovich has no access or control of these funds and will not have any access or control of these funds following the sale."

($1 = 0.8097 pounds)

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Reporting by Rohith Nair in Bengaluru; Editing by Ed Osmond

Our Standards: The Thomson Reuters Trust Principles.

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Abramovich says he has not asked for Chelsea loan to be repaid - Reuters

Wall Street tumbles on fear Fed may need bigger rate hike to tame inflation – Reuters

May 5 (Reuters) - Wall Street's main indexes tumbled on Thursday as investors fretted the Federal Reserve's rate hike might not be enough to bring inflation under control and the U.S. central bank might need to take more drastic action.

The Nasdaq dropped 5.1% and the S&P 500 looked set to erase all of its gains from Wednesday after Google-parent Alphabet Inc (GOOGL.O), Apple Inc (AAPL.O), Microsoft Corp (MSFT.O), Meta Platforms (FB.O), Tesla Inc (TSLA.O) and Amazon.com (AMZN.O) fell between 4.9% and 8.1%.

The U.S. central bank on Wednesday raised interest rates by half a percentage point as expected and Fed Chair Jerome Powell explicitly ruled out a hike of 75 basis points in a coming meeting.

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Traders, however, on Thursday raised their bets on a 75 basis-point hike at the Fed's June meeting. IRPR

"Yesterday's explosion higher was completely comical. It was ridiculous. His comments did not justify the move that we saw," said Kenny Polcari, managing partner at Kace Capital Advisors.

"Part of what people are recognizing, very deep within his speech yesterday, is the concern that inflation is out of control, and the Fed is behind the eight ball. It is the concern that they may even have to make a more drastic move."

Worries about Fed policy moves, mixed earnings from some big growth companies, the conflict in Ukraine and pandemic-related lockdowns in China have hammered Wall Street recently, overshadowing a better-than-expected quarterly reporting season.

By 2:00 p.m. ET, the Dow Jones Industrial Average (.DJI) fell 1,075.08 points, or 3.16%, to 32,985.98, the S&P 500 (.SPX) lost 154.68 points, or 3.60%, to 4,145.49 and the Nasdaq Composite (.IXIC) dropped 657.83 points, or 5.07%, to 12,307.03.

Only 22 constituents of the S&P 500 index were in the green by 2 p.m. ET, while the Nasdaq was on track for its biggest one-day percentage fall since June 2020.

One stock in positive territory was Twitter Inc (TWTR.N), which gained 3%. Elon Musk revealed on Thursday that Oracle's co-founder Larry Ellison and Sequoia Capital were among investors that would back his takeover of the social media giant with $7.14 billion of financing. read more

All of the 11 major S&P sectors declined, with consumer discretionary (.SPLRCD) leading the way. The index was dragged by Etsy Inc (ETSY.O) and eBay Inc (EBAY.O), which slumped 18% and 10.7% respectively, after both forecast Q2 revenue would be below Wall Street's estimates.

The technology sector (.SPLRCT) dropped 5.1%. Intuit Inc (INTU.O) was among those weighing the heaviest, down 8.8% a day after agreeing to pay a $141 million settlement centered on deception claims around its TurboTax product. read more

The CBOE Volatility index (.VIX), also known as Wall Street's fear gauge, climbed to 31.11 points.

The focus now shifts to the U.S. Labor Department's closely watched monthly employment report on Friday for clues on labor market strength and its impact on monetary policy.

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Reporting by Devik Jain and Medha Singh in Bengaluru and David French in New York; Editing by Shounak Dasgupta, Sriraj kalluvila and Cynthia Osterman

Our Standards: The Thomson Reuters Trust Principles.

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Wall Street tumbles on fear Fed may need bigger rate hike to tame inflation - Reuters

For the first time in 36 years, Portland has a race for city auditor – Oregon Public Broadcasting

FILE PHOTO: Portland City Hall. The Portland city auditor earns about $125,000 a year, oversees 52 employees and has a budget of over $11 million. Their job is to keep the mayor and councilors accountable by doing impartial reviews of city programs and making them public.

City of Portland

One of the least scrutinized races in Portland this election season will likely be for city auditor. Voters tend to overlook the race because the position isnt partisan, candidates must be qualified as accountants or auditors and, for the last 36 years, the winner has run unopposed.

But the Pacific Northwest has a strong tradition of elected auditors. Portland has had one since 1868. And the office is substantial: The auditor earns about $125,000 a year, oversees 52 employees and controls a budget of over $11 million.

The auditors job is to keep the mayor, city commissioners and city bureaus accountable by doing impartial reviews of city programs and making them public.

Related: Election 2022: OPB Ballot Guide

Over the last year, current auditor Mary Hull Caballero has looked into everything from sewer maintenance to fraud and waste. In 2021 she said she would not be seeking a third term. And this year she roundly castigated the council for pushing a ballot measure to change the way the city handles civilian oversight of the police.

The disagreement is just one of many reasons why both candidates, Simone Rede and Brian Setzler, say the auditors role deserves scrutiny.

Heres a look at the two candidates and their campaigns:

Setzler describes the job of auditor as a bit like being an umpire.

Hold Mayor Wheeler accountable, hold the city council accountable, he said in a recent interview.

Theres a crisis in homelessness, public safety, affordability, climate change. (They) are all things that we need to address, said Portland city auditor candidate Brian Setzler. Im looking to bring an independent eye to this process.

Kristian Foden-Vencil / OPB

Setzler, who has a masters degree in sustainable business, said he wants to focus on whats known in accounting circles as the triple bottom line: on Portlands environment, economics and equity. He said politically savvy friends suggested he run, although hes not mentioning any names.

He has been a certified public accountant in Oregon for 30 years and has worked with two large international accounting firms. He has also worked in the public sector with the Washington State Department of Revenue and now runs his own business.

Setzler moved to Oregon from Seattle and said that while hes proud of Portland, he worries the city has lost its sheen.

Theres a crisis in homelessness, public safety, affordability, climate change. (They) are all things that we need to address, he said. " Im looking to bring an independent eye to this process.

Setzler said he doesnt have a particular issue hed focus on if elected, but said the city is going to be spending a lot of money on homelessness.

The question is: What do we do? Are we getting the bang for our buck? Is what were doing actually getting people off the street? he said.

Before identifying any new audits, Setzler said he wants to talk to commissioners, community activists, business and labor leaders, to see what needs attention.

Setzler is endorsed by the Pacific Green Party, the Oregon Progressive Party and the Independent Party of Oregon. He recently deleted his Twitter account after discussions about population and homelessness grew heated. He suggested society might reduce population, change lifestyles and reduce consumption. Other social media users called him an eco-fascist.

Setzler told OPB that people were taking his comments out of context and that it wasnt productive to have a nuanced conversation in 280 characters or less.

One of the most controversial issues the new auditor will have to deal with are changes to Portlands Independent Police Review process. Voters passed Measure 26-217 in 2020 to replace the review board with a new board. Details are still being hashed out, but unlike the old board, the new board will have the authority to discipline officers and compel them to testify if they are under investigation.

Current Auditor Mary Hull Caballero is not happy with Measure 26-217 and is pushing control of the Independent Police Review out of her office and onto the entire city council. Shes not seeking reelection.

Setzler voted for Measure 26-217 and said hell work with city leaders to implement the will of the voters.

There is one drawback to the job of city auditor. In Portland, the city council gets to approve the auditors budget meaning it is theoretically possible for commissioners and the mayor to punish the auditor if they disagree with the scope or substance of the offices work.

Its not the kind of thing Setzler has had to deal with in the private sector. But he says private sector experience is what the city needs right now.

We havent had a contested race since Ronald Reagan was president, and I believe it has been one bureaucrat professional after another moving up into this office, he said. " And so Im looking to bring in an independent, outside perspective to help get this city back on track.

As a performance auditor Im looking at how effectively programs are working. Im not necessarily looking at how well our finances are being accounted for, said Portland auditor candidate Simone Rede. Thats something that a completely different office is responsible for at the city.

Kristian Foden-Vencil / OPB

The other candidate in the race, Rede, is the principal management auditor at Metro, the regional government. She has worked herself up through the ranks of the public sector.

She said auditors like herself and accountants like Setzler perform different jobs.

As a performance auditor Im looking at how effectively programs are working. Im not necessarily looking at how well our finances are being accounted for, she said. Thats something that a completely different office is responsible for at the city.

In 1986, voters clarified the duties of the auditor authorizing broad-scope performance audits. But they have to be done in accordance with Government Auditing Standards at the U.S. Government Accountability Office.

Rede said a good auditor needs a thorough knowledge of how governments work as well as strong analytical skills.

Shes endorsed by a number of the more prominent groups that tend to participate in city elections, including the Basic Rights Equality PAC, the Color PAC, the NW Oregon Labor Council and the Portland Business Alliance.

Rede said she also understands what does not fall under the auditors bailiwick: The auditors role is not to design policy necessarily, but see if its being implemented as intended, she said.

Rede was born in Portland and has worked for decades auditing government agencies such as the Oregon Secretary of States office.

I worked as a performance auditor there on audits of Oregons childcare system, identifying improvements in safety and affordability. And I also worked on the first audit of TriMet, which was a legislatively mandated audit, she said.

Before becoming an auditor, Rede worked in a number of Portlands alternative schools, advocating for continuing education.

If elected, Rede said, shell look for better ways to reach out to Portland residents, like on social media. That way she hopes they can play a larger role in deciding which audits need to be performed.

At the top of her current list of concerns is the way Portland is responding to the homelessness crisis.

Thereve been a lot of proposals coming through the pipeline, a lot of untested ideas that I think are worth looking into with the auditors resources, she said.

Like Setzler, Rede voted for Measure 26-217, to change the Independent Police Review board. She said she would use her authority to improve police accountability.

Rede and Setzler are both running using Portlands Small Donor Elections program. Its a campaign finance system that attempts to reduce the influence of money in politics by limiting the contributions candidates can accept. In return, they get small dollar donations matched six-fold by the city.

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For the first time in 36 years, Portland has a race for city auditor - Oregon Public Broadcasting

Never mind New York City: For Mako and Kei, there’s no place like home – Japan Today

This coming July, Kei Komuro, husband of Prince Akishino's eldest daughter, will be making his third attempt to pass the New York State bar examination.

Will Komuro get lucky this time? Citing an old saying that goes, Sandome no shojiki (the third time's a charm), Shukan Post (May 6-13) reports that a growing number of voices are being raised that the couple would be better off returning to Japan.

This view is shared not only by reporters covering the Imperial Household Agency, but by international attorneys and royalty watchers as well.

Komuro's not passing the bar exam means an unstable lifestyle for the couple, who wed in Tokyo last Oct 26.

Just being permitted to work in the U.S., moreover, is no simple matter.

"If the law office where Komuro is currently employed decides to lay him off, it's possible his U.S. visa will be invalidated," says Hiroshi Kiyohara, an attorney licensed to practice in New York.

Commenting on Mako's working as a volunteer for the New York Metropolitan Museum of Art, The Daily Mail of April 12 pointed out that since she entered the U.S. on a spouse visa, she is not permitted to undertake bona fide employment.

Currently, Komuro and his wife reside in an apartment in central Manhattan where the monthly rent has been reported to be around the equivalent of 500,000.

According to statistics of other aspirants on their third bar examination, Komuro's chances of passing are believed to be 30% at best.

A news reporter points out some of the other potential downsides to the couple's residing in the Big Apple, including being hounded by paparazzi; the surge in anti-Asian hate crimes; and the general increase in crimes of violence, such as a mass shooting that occurred not far from the couple's residence.

"If Komuro's still determined to be admitted to the bar in New York State, he can cram for the test while working in Japan, and just fly back to New York to take the examination," suggested the aforementioned attorney Kiyohara.

If the couple does return to Japan, that will also give a boost to Prince Akishino, the emperor's younger brother and first in line for succession to the throne.

"Having a big sister around could be expected provide Prince Hisahito, who is in second line to the throne after his father, with psychological support," says a journalist who covers the Imperial Household Agency. "And as long as Mako is living peacefully in Japan under her family's watchful eyes, she can devote herself to various duties with peace of mind."

Privacy is another issue, and not just for the couple, but the entire imperial family.

"If the Komuros are approached by the local media in the U.S., the Imperial Household Agency has no control over the situation in a foreign country, so there's likely to be less cause for concern if they stay in Japan," points out the aforementioned journalist covering the Imperial Household Agency.

"If Komuro were still a bachelor, he could work things out even without financial issues, and keep taking the bar exam until he passes it," remarked cartoonist Mayumi Kurata, who has been observing the couple's activities since they first announced their engagement. "But now he's got a wife to support.

"It's certainly notable for him to move to the U.S. and harbor the ambition of becoming an attorney, but I think the time has arrived for him to beat a 'courageous retreat,'" Kurata said, adding, "After studying in the U.S. for three years, I realize how hard it will be for him to say, 'I give up,'He may want to be recognized by the world as a man who is worthy of Mako, but now that he has a family, I think he needs to plant his feet solidly on the ground first.

"At the end of the day, it's up to the individual, but whether in Japan or the U.S., if Komuro lands a job and applies himself at it, the couple will eventually fade from the limelight and have the peace and quiet they both seek," Kurata predicts.

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Never mind New York City: For Mako and Kei, there's no place like home - Japan Today

Explained: What Modi meant by FOMO and other Internet shorthand and how to pick them up – The Indian Express

This week, the popular Internet slang FOMO, short for fear of missing out, was employed by an unlikely speaker: Indias Prime Minister.

Narendra Modi was giving a joint address with Denmarks Prime Minister Mette Frederiksen to the India-Denmark Business Forum on the sidelines of the second India-Nordic Summit in Copenhagen. The official handle of the Prime Ministers Office tweeted: These days the term FOMO or fear of missing out is gaining traction on social media. Looking at Indias reforms and investment opportunities, I can say that those who dont invest in our nation will certainly miss out: PM @narendramodi in Copenhagen.

What is FOMO?

The Oxford English Dictionary describes FOMO as the anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on social media.

In their 2021 research paper Fear of missing out: A brief overview of origin, theoretical underpinnings and relationship with mental health, authors Mayank Gupta and Aditya Sharma wrote that FoMO is characterized by the desire to stay continually connected with what others are doing.

Although the phenomenon of the fear of missing out was identified some time in the late 1990s by a brand strategist named Dan Herman, the expression was popularised only in 2004 by Patrick J. McGinnis, an American venture capitalist.

In their 2016 article titled Fear of missing out, need for touch, anxiety and depression are related to problematic smartphone use,Jon D Elhai, Jason C Levine, Robert D Dvorak, and Brian J Hall highlighted that problematic smartphone use was most related to the fear of missing out, depression (inversely), and a need for touch.

Gupta and Sharma wrote that The social aspect of FoMO could be postulated as relatedness which refers to the need to belong, and formation of strong and stable interpersonal relationships.

And what is meant by Internet slang?

Since it first originated in the Internets early days, Internet slang or Internet shorthand has been developing constantly and rapidly. With time, the occurrence of these words and expressions in the vocabulary, especially of users who spend significant time on social networking services and similar online platforms, has become more frequent. And as our digital lives and personalities have become increasingly more enmeshed with real ones, this language of the Internet has seeped into everyday speech.

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A BBC report from 2015 traced the origins of one of the earliest Internet slangs to the mid-1980s when a developer in Canada claimed that he had used LOL in a chat room. Laughing out loud is one of the most commonly used and easily recognisable Internet slang words, and it was added to the Oxford English Dictionary in 2011.

So are BTW (by the way), TFW (that feeling when), and CUL8R (see you later), the last being more common during the early days of SMS.

Punctuation marks play an important role in the language of Internet slang: common punctuation marks used to express feelings or emotions include, for example, a string of full stops (.) and a series of exclamation marks (!!!!!!!!!!), as well as a combination of question marks and exclamation marks (?!?!?!?!).

In 2014, following a Freedom of Information request, the US Federal Bureau of Investigation (FBI) published an 80-page list of Internet slang words that it had compiled to help the agencys agents navigate the fast-changing world of Internetspeak. But a Fast Company report published earlier this year indicated that the list had become largely irrelevant, an indication of how quickly the language develops.

It is often not so much the creation of new words as it is the appropriation of existing words and phrases, which are given new identities and meanings on the Internet. Researchers have submitted that the development of earlier technologies such as radio, television, and telephone too engendered their own set of slang. An example: the phrase the pilot radioed the control room produced the verb radioed that originated in the technology itself.

How can you pick up Internet slang?

You have to spend a lot of time on the Internet, of course, and you have to be, as active social media users say, ITK, or in the know. New words first become cool in certain spaces, and having a wide trawling sweep helps, as does a circle of users who are with it on the Internet. New expressions and connotations keep emerging, with older ones becoming uncool.

For those who are starting out, Kaspersky has a helpful beginners guide to Internet slang. Another resource that is being constantly updated is Urban Dictionary, a crowdsourced online dictionary specifically to help decode slang words and phrases.

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Explained: What Modi meant by FOMO and other Internet shorthand and how to pick them up - The Indian Express