Oil claws back some losses after crashing on supply-demand shock

first_imgOil clawed back some losses after its biggest drop in three decades as investors grappled with simultaneous supply and demand shocks and the most volatile market on record.Futures in New York rose about 6 percent after losing a quarter of their value Monday in the biggest plunge since the 1991 Gulf War. A gauge of volatility in the contract jumped to the highest in data going back to 2007 after the collapse of the OPEC+ alliance set off what could be a long and bitter price war.Saudi Arabia slashed its official crude pricing over the weekend and is threatening to raise output to record levels, while Russia’s largest producer said it will ramp up production next month. The gush of new supply is happening as the coronavirus pummels global consumption, with the International Energy Agency warning crude demand will drop this year for the first time since the worldwide financial crisis. Topics : Russian Energy Minister Alexander Novak indicated Moscow was prepared for a war of attrition, saying his country’s oil industry had “enough financial resilience to remain competitive at any forecast price level, and to keep its market share.” IEA Executive Director Fatih Birol warned that “playing Russian roulette in oil markets may well have grave consequences.”The unprecedented supply-demand shock poses a serious threat to the US shale boom and oil-dependent economies in the Middle East, Africa and elsewhere. It sent shock waves across global markets, with US stocks plunging, Treasury yields dropping to records and credit markets buckling. Exxon Mobil Corp. dropped the most in 11 years, while Occidental Petroleum Corp. and Chevron Corp. suffering double-digit losses.West Texas Intermediate crude for April delivery rose 5.2 percent to US$32.75 a barrel on the New York Mercantile Exchange as of 10:05 a.m. in Singapore after climbing as much as 6.6 percent earlier. It crashed by more than $10 a barrel on Monday to end at $31.13, the lowest since early 2016.Brent for May settlement advanced 6.2 percent to $36.48 a barrel on the London-based ICE Futures Europe exchange after plummeting 24 percent on Monday. The global crude benchmark traded at a $3.32 a barrel premium to WTI for the same month.center_img The bounce in oil looks like “nothing more than a slight correction after the huge sell-off yesterday,” said Jeffrey Halley, senior market analyst at OANDA. “Nothing has changed with regards to the structural outlook for oil after the collapse of the OPEC+ grouping.”Big banks including Citigroup Inc., Societe Generale SA and Goldman Sachs Group Inc. are warning oil prices could fall further. The IEA said Monday that oil demand is now expected to contract this year by 90,000 barrels a day and, in a rare move, included a more pessimistic scenario in which the demand loss would be many times more severe. In the US, the Energy Information Administration said it would delay the release of its monthly Short-Term Energy Outlook to allow time to “incorporate recent global oil market events.”The shocks in supply and demand have also reverberated across time-spreads and options. Brent for prompt delivery collapsed against later shipments. The structure, known as contango, is a sign of bearishness and oversupply and makes it profitable for physical traders to buy crude and put it into storage, either in onshore tank farms or at sea on tankers.last_img read more

To buy it or not: Retail investors are torn amid volatile stock market

first_imgTopics : Read also: Indonesia prepares additional measures to stabilize markets, halt tax payments amid virus risksArief did not stop there. He admitted that he was too affected by the panicked atmosphere spreading among market players, prompting him to sell stocks in his portfolio to seek cover from further losses.However, the JCI rebounded after the US Federal Reserve delivered an emergency 50-basis-points rate cut on March 3, blowing a soothing wind for Arief to calm himself down.“I’m still in a wait-and-see mode as I observe the latest virus developments and until the situation improves,” he said, adding that he believed the market rout would remain until the virus could eventually be contained. The Indonesia Stock Exchange (IDX) data showed that its main gauge, the JCI, fell 17.12 percent so far this year with foreign investors dumping out Rp 7.12 trillion (US$497.37 million) worth of stocks more than they bought. The local bourse’ market capitalization has dropped to Rp 6 quadrillion from Rp 7.26 quadrillion at the end of last year.The index rebounded 1.64 percent to 5,220.83 on Tuesday, after crashing 6.58 percent in the previous session. Stocks of private-owned Bank Central Asia (BCA) and state-owned Bank Rakyat Indonesia (BRI) and Bank Mandiri became the index movers.Read also: Bourse announces new trading suspension policy on brink of bear marketThe uncertainties stemmed from the COVID-19 spread around the globe that has hit stock markets worldwide from New York and London to Shanghai and Tokyo. The pneumonia-like illness infected more than 114,000 people globally, including 19 in Indonesia, and killed around 4,000, disrupting business activity in various countries, including economic giants China, Japan and Germany.Fathia Haq, a 29-year-old expectant mother, stood on the opposite side of Arief as she planned to use the less-than-favorable market conditions to her advantage: accumulating cheaper stocks into her portfolio. She, however, did that with a careful and calculated strategy.“I only buy stocks of companies that produce products that I know and have good fundamentals,” the Bali-based writer told the Post, referring to the companies’ financial state and profitability ratios.Fathia, who planned to use the gains from her investment to pay for her unborn child’s school tuition fee, said the fundamental conditions had become the most important thing for her to pick which stocks are worth to be included into her portfolio.Although she sometimes felt a pinch of worry from the stocks sharp decline, she tried to remind herself that buying stocks during a rout could help her gain big profits in the next five to seven years, enough to pay for the school tuition fee.“I try not to panic and just think of the stock market is having a big sale right now,” she said.The JCI gained almost two folds in its value in the last 10 years with the number of retail investors surging forward at 30 percent to 1.1 million people last year, the bourse data showed.Domestic investors are the biggest traders at the local bourse so far this year with a 60 percent contribution versus foreign investors.Read also: Disappearing act: Market braces for volatile March after $2.4b vanishes in a weekSucor Sekuritas head of business development Bernadus Setya Ananda Wijaya was one of the market players that suggested investors to benefit from the weak market.“Investors are slowly building up their portfolios while many stocks are at their cheapest price,” he said during a seminar in Jakarta on Feb. 29.Mandiri Investasi deputy chief investment officer Aldo Perkasa explained on Thursday that such a strategy would be best fit for mid-to-long term investors as he expected the JCI would still move with high volatility in the short term.“Investors should also be able to manage their fears [during the coronavirus outbreak] and watch out for other investment assets’ movement, like the government bond, that would influence the stock market’s movements and help them make a profit,” Bahana TCW chief economist and investment strategist Budi Hikmat said in a statement on last Tuesday.He, however, reminded investors to stay prudent in investing during times of volatility like today, suggesting investors to closely watch other economic indicators, such as the rupiah value against the US dollar and global bourse indices. (ydp)center_img Retail investors have found themselves facing two difficult decisions amid a volatile Indonesian stock market that has wiped out trillions of rupiah in less than three months: to buy more shares or not.Arief Hendarwan, a 28-year-old employee in Jakarta, admitted that he had been holding off from buying more stock for the past month as the Jakarta Composite Index (JCI) plummeted deep into the red.“I’ve pulled out of buying more stocks to keep myself from losing more money because the share prices are tanking due to the fear of the coronavirus outbreak,” he told The Jakarta Post.last_img read more

Travelers rush into US ahead of ban on Europe arrivals

first_imgNew Yorker John Eckard, 66, was sleeping soundly at his son’s home near Frankfurt, Germany when he was startled by a 3:00 am call from his wife saying he “had to fly back now.””I was half-asleep but went straight on the Singapore Airlines website,” said Eckard after he landed in the United States on Thursday.”I think I must have got the last ticket because I was sitting in the last seat in the last row.” Travelers milled around and check-in queues were short, with the only hint that something was out of the ordinary being the few passengers wearing surgical masks.”On the plane, there were rumors that we would be swabbed and have our temperatures taken when we landed but it’s quiet. I was expecting to turn up at a mad house,” added the semi-retired deli store manager. ‘Uneasiness and anxiety’ Peter Stults, a 37-year-old graphic designer from New York, was on the same flight as Eckard.He ended a business trip and vacation to Germany two days early following Trump’s shock announcement late Wednesday.”I wanted to stay longer but it (the ban) didn’t come as a surprise. The theme over there (in Germany) was it was coming, not if but when,” he told AFP.Newly-arrived German tourists Niklas Schliesmeier, 25, and Sabrina Schwichtenberg, 23, were determined not to let any travel restrictions ruin a week’s holiday in the Big Apple.”When we heard the announcement we were extremely nervous, so we checked our flights.”When we saw that they weren’t cancelled we’re like, let’s try to go there and until we came out from immigration we were still not 100 percent sure that we would be allowed to enter,” said Schliesmeier.He added that the couple were “relieved” and “looking forward to a nice week in New York City.”They may not be able to do everything they had hoped to do, however.”We are worried about closed museums but are hopeful we will have a nice week. We didn’t think about cancelling.”New York’s theaters and many museums were closed from Thursday, and most gatherings of over 500 people have been banned, including the annual St Patrick’s Day parade.The pair laughed when asked if they were worried whether they could make it back to Germany.”That’s our next problem. We’ll face it in a week,” said Schliesmeier.But over at Terminal 1, Oskar and Juliane, also from Germany, were feeling anxious about whether they would get back home.They came to JFK to see if they could get on an earlier flight than their booking next week.”We came here to get information because the hotline is always blocked,” 28-year-old Oskar told AFP, declining to give his surname.”There is a feeling of uneasiness and anxiety not knowing what might happen.”At Washington’s Dulles airport, John Gover, a British pensioner who lives in the south of France with his wife, was hoping for a last-minute seat on a flight back to Nice.”We have a flight next week, but because there aren’t many flights coming over, we assume there won’t be any planes going back,” he said.Topics : President Donald Trump on Wednesday  announced a ban on entry into the United States of people coming from continental Europe to diminish the spread of the new coronavirus.Travelers who had hurried to leave Europe before the travel ban is implemented on Friday braced themselves for chaos at New York’s JFK but on their arrival found the airport calmly serene.Eckard said he was “very sad” to be cutting short his visit to see his grandson, but was concerned that Trump’s month-long measure to combat the coronavirus spread would be extended.”I could have stayed for another 30 days but I was thinking that would have probably turned into 60 days and that I could still be here come New Year’s Eve,” he told AFP at JFK’s Terminal 4.last_img read more

Expand deficit to 5%, cut taxes on rich in exchange for required COVID-19 donations: House

first_img25% Income up to Rp 50 million 15% 30% Layers of taxable income (annually) 5% Income of more than Rp 500 million Income of Rp 250 million to Rp 500 million Percentage taxed The House of Representatives has urged the government to issue a government regulation in lieu of law (Perppu) to revise the 2020 state budget, expand the budget deficit cap and provide incentives for individual taxpayers to cope with the economic effects of COVID-19.The House’s budget committee (Banggar) chairman Said Abdullah said on Monday that the government should raise the budget deficit ceiling from the current 3 percent of gross domestic product to 5 percent. The government debt-to-gross domestic product (GDP) ratio, he said, had to be kept in check at 60 percent from around 30 percent today.“Almost every macroeconomic indicator has changed significantly due to the spread of the COVID-19 pandemic. The 2020 state budget, as the government’s fiscal instrument, will no doubt change as well,” Said wrote in a public statement after a teleconferenced meeting with Finance Minister Sri Mulyani Indrawati and Bank Indonesia governor Perry Warjiyo. Income of Rp 50 million to Rp 250 million The government should also issue another Perppu to make changes to the current income tax law to roll out incentives for individual taxpayers, Said added.“The important point is to [reduce] income tax to 20 percent for those with savings of more than Rp 100 billion,” he said. As a consequence of lower income tax for the haves, they will then be required to pay Rp 1 billion per person to the National Disaster Mitigation Agency (BNPB) for the COVID-19 response fund.The prevailing 2008 Income Tax Law, Article 17 “This Perppu is meant to support the public’s recovery efforts due to COVID-19, ensure the implementation of a social safety net program and help informal and small and medium businesses survive in the face of a hard economic situation,” Said added.Sri Mulyani was not immediately available for comment in response to the ideas from the Banggar. However, she previously estimated that the state budget deficit could widen to between 2.2 and 2.5 percent of GDP this year, taking into account the large government stimulus packages provided to fuel the virus-stricken economy.Read also: More cash aid, stimuli needed to soften economic shocks of COVID-19: EconomistsThe government will reallocate Rp 62.3 trillion (US$3.9 billion) of state spending from the 2020 budget to tackle COVID-19, focusing on healthcare, the disbursement of social funds and economic stimuli for businesses and workers.The allocated sum will add to the Rp 120 trillion of stimulus packages already stipulated as the government prepares for worst-case scenarios, including the possibility of zero percent economic growth, ministers have said.“We’ve identified about Rp 62.3 trillion of planned spending that can be reallocated to priority areas put forward by the President. This includes funding for business trips, blocked funds and non-operational purchases of goods, among other items,” Sri Mulyani said.Several economists have also called for a flexible state budget to help the country cope with the COVID-19 pandemic.“Desperate times call for desperate measures,” University of Indonesia rector Ari Kuncoro told The Jakarta Post. “The government should look to implement an intertemporal budget. If we pass the 3 percent limit this year, then we should compensate for the deficit over the next three to five years.”As of Tuesday, Indonesia had 579 confirmed cases of COVID-19 and 49 deaths. Thirty people who contracted the virus have recovered. Globally, the pneumonia-like illness has infected over 381,000 people and has claimed at least 16,500 lives.Topics :last_img read more

Bundesliga stars glad to train again, even with social distancing

first_imgThe German Football League (DFL) is in talks with the clubs and authorities about the Bundesliga resuming on May 2, but with matches played in front of empty terraces and fans locked out while public events remain banned in the country.A decision about when the competition can resume is expected on April 17, which could make it the first of Europe’s top leagues to return.Meanwhile, the league’s stars are adjusting to training in the era of social distancing.Defending champions Bayern Munich, who were four points clear when the league was halted, were typical of sides in holding sessions in small groups. Topics : Wearing gloves for hygienic reasons and observing social distancing on the pitch are among the challenges facing Bundesliga footballers back in training this week amid hopes the league could resume next month.Most of the 18 clubs in Germany’s top flight returned to their clubs on Monday, albeit in small groups with limited contact to meet health guidelines due to the coronavirus.League matches in Germany have been suspended since March 13. Contact is kept to a minimum with hugs of greeting and handshakes banned and players staying 1.5m apart, even on the training pitch.”It was a very unusual feeling to train in small groups,” admitted Bayern captain Manuel Neuer with a maximum of five players per group permitted at their state-of-the-art training complex.Like most other clubs, Bayern’s squad members were told to shower elsewhere and handed post-training snacks in a box to eat at home.In Wolfsburg, the players trained wearing gloves despite warm spring temperatures.   “For hygienic reasons, we have to wear gloves, even though it’s 22 degrees [Celsius],” said forward Maximilian Arnold.”Of course it’s necessary, but also a bit funny.”Tackling and close-quarter challenges for the ball are frowned upon at all outfits.”I would love to tackle, but I can’t do that now,” said Hoffenheim defender Havard Nordtveit.Previous weeks at home, in many cases filled by hours on the PlayStation games console, had left a toll. ‘Well regulated'”My ball control was never perfect, but you can tell that a few team-mates have not trained with the ball for three weeks,” Nordtveit added.”The most important thing, is to keep working on our fitness now and be ready” should the season resume.In Berlin, Union defender Christopher Lenz was just as happy to have team-mates to pass to again and “have a real ball” at his feet.”I missed the boys. The PlayStation had been my best friend”.After weeks of training individually, or in online groups like Bayern did, most players were pleased to be back on a pitch, despite the new hygiene measures.”It’s a nice feeling” to “play a bit of football and see the colleagues again,” Fortuna Duesseldorf forward Rouwen Hennings said.”Of course you can’t put in hard tackles or challenges, but I think it’s quite well regulated for the here and now.”In Gelsenkirchen, Schalke coach David Wagner said his squad were happy to be put through their paces.”The fitness coaches can really let off steam, and the boys are up for it too,” said the former Huddersfield boss.”Anything is better than running alone through the forest.”However, players training in small groups offers an extra advantage for eagle-eyed coaches.”Nobody can hide,” said Duesseldorf coach Uwe Roesler with any lack of fitness quickly showing up.last_img read more

Indonesia’s factory activity in deepest-ever contraction as pandemic disrupts supply, demand

first_img“The contraction in all of the PMI-BI components was caused by slower demand and a disrupted supply chain as a result of COVID-19,” the central bank said in a statement.Manufacturing industry contributed around 19 percent of Indonesia’s gross domestic product (GDP), which grew by 4.97 percent in the fourth quarter last year, the slowest in four years. Economic growth is expected to reach 2.3 percent this year, a 21-year low, with a possibility of contracting by 0.4 percent contraction under the worst-case scenario, government forecasts estimate.Read also: Indonesia’s factory activity at record low as COVID-19 paralyzes businessBI Governor Perry Warjiyo said on April 9 that GDP growth would reach 4.7 percent in the first quarter but would weaken to 1.1 percent in the second quarter as the government implements stricter COVID-19 containment measures. Growth is seen at 1.3 percent in the third quarter and 2.4 percent in the fourth quarter. Indonesia’s factory production contracted by a record level in the first quarter of the year as a result of weak demand and disruption to the supply chain against the backdrop of the coronavirus pandemic, the latest survey has shown.Bank Indonesia’s Prompt Manufacturing Index (PMI-BI) was recorded at 45.64 percent, the lowest level ever, compared with 51.5 percent in the fourth quarter of 2019. An index reading above 50 indicates expansion while below 50 reflects contraction.The contraction was seen in all component indexes. The order volume index was at 47.28 percent, production volume index at 43.1 percent, goods stock volume at 46.69 percent and the manpower index at 47.63 percent. The virus has infected more than 1.8 million people around the globe including 4,241 in Indonesia, forcing factories, shops and schools to close amid government-imposed lockdowns and social restrictions. This has upended supply chains and crushed demand for goods as consumers stay at home worried about job prospects, reining in consumer spending, which accounts for nearly 60 percent of Indonesia’s GDP.According to the BI-PMI survey, almost all sectors of manufacturing have tumbled in the first quarter except for food, beverages and tobacco. However, the central bank projects an improvement in factory activity in the second quarter due to increasing volume in factories.“Manufacturing activities will slightly recover in the second quarter of 2020 to 48.79 percent,” the central bank projected. “The recovery will be driven by expansion in the order volume and goods stock volume indices.”Read also: COVID-19 impacts across Indonesia’s business sectors: A recapBI’s survey was largely in line with IHS Markit’s Purchasing Managers Index (PMI), the gauge for manufacturing activities. Indonesia’s PMI slumped to 45.3, the worst in the survey’s nine-year history.”Under stricter antivirus measures, demand weakened sharply at the end of the first quarter. New business inflows fell at the fastest rate in the series history, dragged down by a plunge in export sales,” the survey statement reads.”At the same time, factory shutdowns led to a marked drop in production, with output also falling at a survey record rate.”Indonesia has implemented large scale social restrictions (PSBB) measures within the capital city Jakarta, the nation’s virus epicenter, to contain COVID-19. The measures include closing down schools and public places, prohibiting crowds gathering and restricting mobility and commercial activity to those serving essential needs only.Topics :last_img read more

Italy launches antibody tests for virus immunity in hard-hit Lombardy

first_imgRisks remainImmunity to the virus is little understood and hopes about its efficacy possibly exaggerated. Lacking data, virologists and epidemiologists must extrapolate information from past coronaviruses to make predictions. Experts believe at least 60 to 70 percent of a population must be immune to the virus in order to gradually wipe it out. But recent studies, such as one conducted in March and April by France’s Institut Pasteur, have found that so-called “herd immunity” was harder to attain than believed. At a high school in the Oise department, site of one of the country’s first outbreaks, researchers found only 26 percent of students, teachers and their families carried antibodies. Moreover, it is not known for how long immunity to coronavirus lasts, meaning there is a risk those deemed “immune” may be re-infected and pass along the virus to others. In the 2002-2003 SARS epidemic, those who had contracted the virus but recovered were immune for two to three years on average, according to Francois Balloux, director of the Genetics Institute at London’s University College.”One can certainly get reinfected but the question is, after how much time? We won’t know until retroactively,” Balloux told AFP.Even more risky, a person who has developed antibodies can still carry traces of the virus, and thus be contagious. Therefore, experts such as Italy’s Locatelli say antibody tests should be accompanied by swab testing.Immunologist Jean-Francois Delfraissy, who heads France’s scientific council formed to fight coronavirus, said many doubts remain. “We’re currently asking the question whether someone who has had COVID-19 … is as protected as we think,” said Delfraissy.Scientists must wait until more reliable data is available, said Saad Omer, director of the Yale Institute for Global Health.”It’s too premature,” Omer told AFP. “We should be able to get clearer data very quickly — in a couple of months — when there will be reliable antibody tests with sensitivity and specificity.” Although Germany has already started nation-wide antibody tests and countries such as Finland and Britain have announced plans to roll them out, many questions remain about how reliable data derived from the tests will be.Health authorities have said 20,000 tests would be performed every day in Lombardy. First to be tested are those in the worst-hit provinces: health workers, those under quarantine showing coronavirus symptoms and those they have been in contact with, as well as others with mild symptoms.Authorities hope to roll out the tests to the wider region after April 29. The head of Italy’s National Health Council, Franco Locatelli, said last month antibody tests would help authorities determine the spread of the coronavirus.  Data would also provide “very relevant information on herd immunity” which would useful in developing strategies to help restart the country, he said, such as who could be allowed to go back to work.The kits, made by Italian biotech firm DiaSorin, look for the presence of antibodies in the blood. Such antibodies indicate that the person has been exposed to the virus, pointing to some level of immunity. They differ from the more common swab tests, which test molecules from nasal secretions to determine whether a person currently has the virus. Lombardy’s swab testing has revealed that 24 percent of those tested have the virus. Italy began conducting antibody tests in one northern region on Thursday seeking information about coronavirus immunity to help guide authorities as they reopen the long locked-down country.Lombardy, the region hardest-hit by the coronavirus crisis in Europe’s worst-affected country, is betting that the science about “herd immunity” derived from the blood tests will help the prosperous industrial region return to work faster and safer. Nearly 13,000 people have already died of the virus in densely populated Lombardy, whose capital is Milan — or more than half of Italy’s total dead. Topics :last_img read more

Three days of rain thwart Florida reopening, cause severe flooding

first_img“This is epic. Never had this much rain in 3 consecutive days in 8 years of living here. 10.58″ and counting… will be over a foot easily,” tweeted Brian McNoldy, a hurricane and climatology expert at the University of Miami.As of Tuesday night, there were no reports of damage.The rain ruined the long Memorial Day weekend and prevented crowds from forming at the recently reopened restaurants and beaches in Broward County, north of Miami, that opened Tuesday.The weather also puts at risk the launch, planned for Wednesday, of a rocket with two astronauts on board from the Kennedy Space Center in Cape Canaveral, in the center of the state. South Florida residents were unable to enjoy the reopening of restaurants and beaches after two months of coronavirus lockdown, when three straight days of rain Tuesday caused severe flooding in Miami and other coastal cities.Floridians have received warnings for severe storms, tornadoes and flash floods since Sunday, as streets turned into rivers and electricity flickered.Images of cars flooded up to their windows have circulated on social media, as well as photos of people kayaking through the streets of Miami. Some people were even surfing, towed along by a rope attached to an SUV. Meanwhile, in northeast Florida, another disturbance producing storms has a 30 percent chance of becoming a tropical cyclone, according to the National Hurricane Center.Hurricane season officially begins June 1, but this year it was pushed forward by Tropical Storm Arthur, which formed two weeks ago in the Atlantic Ocean and passed by the coast of Florida and the Carolinas.center_img Topics :last_img read more

Human Rights Watch report documents abuse of child athletes in Japanese sport

first_imgTopics : “For decades, children in Japan have been brutally beaten and verbally abused in the name of winning trophies and medals,” Minky Worden, director of global initiatives at Human Rights Watch (HRW), said in a statement.In 2013, the Japanese Olympic Committee (JOC) promised to take steps to wipe out violence among its sports federations after an internal survey revealed more than 10% of its athletes had been victims of bullying or harassment.They also cut funding to its judo federation at the time after coaches were found to have physically abused female athletes.HRW said, however, that not enough had been done since then and demanded organizations such as the Japan Sports Council and the JOC use the upcoming Olympics as a catalyst for change. A Human Rights Watch report has found child athletes in Japan often suffer physical and verbal abuse and sometimes sexual abuse when training for sport after documenting the experiences of over 800 athletes in 50 sports.The 67-page report released on Monday titled “I Was Hit So Many Times I Can’t Count” looks at Japan’s history of physical punishment in sport and includes first-hand accounts of athletes being punched, kicked and whipped.The report comes in the week that would have marked the start of the Tokyo Olympics had it not been for the global coronavirus pandemic. The Games have now been delayed a year.center_img The JOC did not immediately respond to Reuters requests for comment.The report was based on interviews with more than 50 current and former athletes, an online survey that drew more than 757 responses and meetings with eight Japanese sports organizations.Of the 381 survey respondents aged 24 or younger, 19% indicated they had been hit, punched, slapped, kicked, knocked to the ground or beaten with an object while participating in sports. These experiences occurred in at least 22 different sports, the report said.”The coach told me I was not serious enough with the running, so we were all called to the coach and I was hit in the face in front of everyone. I was bleeding, but he did not stop hitting me,” the report quoted a professional athlete given the pseudonym of Daiki A. as saying.Eighteen percent reported experiencing verbal abuse, and five reported experiencing sexual assault or harassment while participating in sport as children.last_img read more

Shockwaves from Wisconsin police shooting rattle US sports and politics

first_imgPolice in Oakland, California, said hundreds of people took part in demonstrations that included fires, broken windows and vandalized businesses. And police and protesters continued to clash in Portland, Oregon, where demonstrations have gone on for nearly three months straight.At the Republican National Convention on Wednesday, U.S. Vice President Mike Pence described the Nov. 3 election between President Donald Trump and Democratic challenger Joe Biden as a choice between “law and order” and lawlessness.’Blake didn’t harm anyone’National Basketball Association players led by the Milwaukee Bucks went on strike to protest racial injustice during the playoffs, putting the rest of the season in jeopardy. Milwaukee is about 60 km north of Kenosha.Players in Major League Baseball, Major League Soccer and the Women’s National Basketball followed with their own wildcat strikes. Tennis player Naomi Osaka pulled out of a tournament in Ohio.In the police shooting that sparked the latest wave of outrage, Rusten Sheskey, a 7-year veteran of the Kenosha police force, fired seven times at Blake’s back, striking him four times, as he walked away from them and entered his car.Blake survived despite injuries to his spine and multiple organs, and he may be permanently paralyzed, his family lawyers said.The Wisconsin Department of Justice revealed on Wednesday that investigators found a knife on the driver’s side floorboard of Blake’s car.Investigators also said police had tased Blake during an attempt to arrest him as part of a domestic dispute, and that Blake had admitted to them that he had a knife.Civil rights attorney Ben Crump, who represents the Blake family, disputed the claim he had a knife.”Jacob Blake didn’t harm anyone or pose any threat to the police, yet they shot him seven times in the back in front of his children. But when a young white supremacist shot and killed two peaceful protesters, local law enforcement and National Guardsmen allowed him to walk down the street with his assault weapon,” Crump and his co-counsels said in a statement.They were referring to video from the previous night that showed the person who had just fired on protesters was able to walk past a battery of police without getting arrested.Authorities later caught up to the suspect, 17-year-old Kyle Rittenhouse, in his hometown of Antioch, Illinois, about 30 km away. Peace returned to Kenosha, Wisconsin, for a night but shockwaves from the police shooting that paralyzed a Black man reverberated across the United States, further polarizing the presidential election campaign and bringing major sports to a halt.Following three nights of civil strife including arson, vandalism and a shooting spree that killed two people, calm appeared to take hold on Wednesday night and Thursday morning.About 200 protesters who defied a curfew marched peacefully through city streets, chanting, “Black lives matter” and “No justice, no peace” in response to the seven shots fired at the back of 29-year-old Jacob Blake on Sunday in the presence of his three young sons. Law enforcement kept a low profile during the demonstration, and notably absent were any counterdemonstrators or armed militia figures.Prior nights had seen an array of rifle-toting civilians such as the 17-year-old, pro-police advocate who was arrested on Wednesday and charged with homicide for a shooting outburst that killed two and wounded another.With protests elsewhere in America still lingering over the May 25 death of George Floyd, whose neck was pinned to the ground by a Minneapolis police officer, the Kenosha events revived debates about racism in the criminal justice system.Authorities declared a state of emergency in Minneapolis on Wednesday to quell unrest that was stirred by the death of a Black homicide suspect who police say shot himself.center_img Topics :last_img read more