The headquarters of the Bank of England in London | Adrian Dennis/AFP via Getty Images
Borrowers in difficulty get extra time but Treasury encourages others to resume payments.
The U.K. Treasury instructed banks Friday to extend mortgage holidays for another three months for people still struggling with the impact of the coronavirus.
Banks should contact existing beneficiaries to give them a chance to extend the payment suspensions put in place since March, which are due to begin expiring in June.
For borrowers who can resume payments, “it is in their best interest to do so,†the Treasury said.
Lenders will keep the window of applications open for customers to request deferrals until October 31, under related guidance from the Financial Conduct Authority. The FCA extended its ban on home repossessions until then.
“Anyone who continues to need help gets help,†the regulator said.
Nonpayment of a mortgage under a moratorium is not to be treated as a bad loan, the Bank of England said, reiterating its March guidance on the application of capital, provisioning and accounting rules.
Banks should revise payment schedules according to how much a borrower can afford to pay. For those unable to resume full payments on those terms, banks should distinguish between those temporary cash shortfalls versus people facing longer-term trouble, such as permanent loss of a job.
Lenders would then take a “proportionate approach†to assessing the likelihood of repayment, considering the underlying reasons for the financial distress. The BoE said this can be done “without detailed quantitative analysis.â€
“Firms are reminded to apply sound risk management practices regarding the identification of defaults,†the central bank added Friday to extend mortgage holidays for another three months for people still struggling with the impact of the coronavirus.
This article is part of POLITICO’s premium policy service: Pro Financial Services. From the eurozone, banking union, CMU, and more, our specialized journalists keep you on top of the topics driving the Financial Services policy agenda. Email pro@politico.eu for a complimentary trial.
Long before the Umbrella Movement or last year’s sustained political unrest, this reputation was cemented in 2003, when mass marches against a proposed anti-sedition law known as Article 23 succeeded in forcing the government to shelve the legislation. In the 17 years since, despite promises to do so and much prodding from Beijing, no Hong Kong administration has dared restart this process.
This week, Beijing’s patience ran out. On the back of more than six months of often violent pro-democracy protests in Hong Kong last year, the National People’s Congress (NPC), China’s rubber-stamp parliament, put forward plans to introduce a national security and anti-sedition law on the city’s behalf, bypassing Hong Kong’s legislature via a rarely used constitutional backdoor.
The details of the proposed law go far beyond what was put forward in 2003. As well as criminalizing “treason, secession, sedition (and) subversion” against the central government, it will also enable Chinese national security organs to operate in the city “to fulfill relevant duties to safeguard national security in accordance with the law.”
Expected to be passed by the NPC later this month and promulgated in Hong Kong soon after, the law will have drastic effects on whole swaths of Hong Kong society, from the city’s garrulous and defiant political sphere to media, education and international business.
Broad application
Hong Kong has always prided itself on following the rule of law, with an independent judiciary and civil liberties far beyond what is allowed across the border in mainland China. The type of arbitrary punishment, secret detention and nakedly political prosecution common in the mainland is almost unheard of in the city.
These rights are enshrined within the Basic Law — the city’s de facto constitution — and guaranteed (in theory) by an agreement between China and the United Kingdom when Hong Kong was handed over to Chinese rule in 1997. Hong Kong, unlike China, is also party to international treaties guaranteeing various civil liberties.
The new law challenges all of this. By criminalizing such a broad swath of ill-defined acts, it could give the authorities leeway to go after the city’s opposition as they see fit.
In China, sweeping national security laws have been used to target human rights activists, lawyers, journalists and pro-democracy campaigners. Nobel Peace Prize laureate Liu Xiaobo, who died in 2017 after more than a decade behind bars, was convicted of “inciting subversion of state power.”
Permitting China’s security apparatus to operate in the city also raises the specter of extralegal persecution. Dissidents and activists in China are often disappeared by the authorities or threatened with arrest around sensitive events, and many journalists and lawyers are dragged in to “take tea” with the security services, during which they receive thinly-veiled threats about the potential consequences of their work.
Speaking at a news conference called by opposition lawmakers on Friday, Democratic Party legislator Helena Wong said that even the local government “will not be able to regulate what the agents do in Hong Kong.”
Her colleague Claudia Mo told CNN that the news was proof that Beijing “will do anything to rein in Hong Kong at any cost.”
“It’s clear Beijing couldn’t care less anymore what people think,” she added.
Implementation of the law in Hong Kong could also prove to be a nightmare for the city’s courts — which operate separately to the Chinese legal system and free of the political pressures put on mainland judges.
This does not mean the law is at much risk of being overturned, however. The NPC is the court of final appeal in Hong Kong and can issue an “interpretation” of any constitutional issue, essentially rewriting the Basic Law on the fly.
But the confusion and uncertainty the new rules may create, and a potential prolonged fight in the courts, could pose a major blow to the city’s reputation for upholding the rule of law, which has long been seen as vital for Hong Kong’s position as an international finance and business hub.
Chilling effect
Unlike the proposed extradition bill that kicked off last year’s unrest, the scope and effects of the anti-sedition law could be broad and society-wide. A major chilling effect can be expected on the city’s media and political spheres — journalist groups have long warned of increasing self-censorship as pressure from Beijing has increased and newspapers and television stations came under the control of Chinese owners.
The fate of the city’s large international press corps is unclear. At present, foreign journalists are free to work in Hong Kong unimpeded by the type of visa and other restrictions imposed on colleagues in China, but ahead of the new law there were already indications that this was coming to a close. New controls on reporting in Hong Kong could see many media organizations relocate from the city, traditionally a base for reporting on the wider Asia region.
A crackdown on the city’s legislature, where pro-democracy lawmakers hold around a third of seats, could also be a result. In recent years, lawmakers have been expelled from the body and some candidates have been barred from standing on political grounds. The new law could give Hong Kong authorities a broader remit to remove obstructive lawmakers from their positions or even prosecute them for blocking key legislation, particularly on national security grounds.
The effects of the proposed change will likely be felt outside the city too. US Senators are due to issue an assessment under the Hong Kong Democracy and Human Rights Act (HKDA) on whether the city remains sufficiently autonomous from China to justify its special trading status. It’s difficult to see how Beijing bypassing Hong Kong’s parliament and legislating on its behalf won’t shape this decision.
Late Thursday, several US lawmakers promised to impose sanctions against Chinese and Hong Kong officials responsible for imposing the law, which they described as a “gross violation” of China’s agreement with the UK to preserve the city’s freedoms when it assumed sovereignty in 1997.
Beijing may be counting on the fact that the coronavirus pandemic has weakened the ability and determination of the international community to pressure it over Hong Kong — the UK in particular, newly outside of the European Union, is dependent on increased trade with China to boost its flagging economy.
With the new rules being imposed from on high, leap-frogging Hong Kong’s legislature, it is unclear what protesters or opposition lawmakers can do to prevent them becoming law. Legislators succeeded in filibustering a proposed law criminalizing any insult of China’s national anthem for years, while protesters physically blocked the parliament last year and prevented further discussion of the loathed extradition bill. Neither tactic would work against the new national security law.
The timing, coming as coronavirus restrictions are still in place in Hong Kong, which is only just getting its domestic epidemic fully under control, could mean that people are less willing to join mass protests than they were last year.
Nevertheless, amid widespread despair late Thursday night, Nathan Law, a former lawmaker and leader of the 2014 protests, called on people not to give up entirely: “At this time last year, didn’t we all think the extradition law would definitely be passed? Hong Kong people can always create miracles.”
The first emergency alerts sounded in the wee hours of Tuesday morning, when small-town residents near two lakes strung together by Michigan’s Tittabawassee River were told to seek higher ground.
First responders went door to door in the riskiest places, startling some people awake with an unpleasant message: Days of heavy rain had put too much stress on nearby Edenville Dam, which held back the rising waters of Wixom Lake above. The dam was expected to break.Â
Shortly before 6 p.m. Tuesday, it did just that ― water began gushing from the lake down into the river valley. Local pilot Ryan Kaleto captured the disaster from the sky infootage posted to Facebook that shows a powerful current felling trees and swallowing them whole.Â
“Wixom Lake will be gone by tomorrow,†Kaleto predicted.Â
The water kept going, feeding into Sanford Lake, held back on its southern end by the Sanford Dam. By 7 p.m., that failed, too, and Sanford Lake began draining into the Tittabawassee River, flowing downstream to Midland, Michigan, a city of around 42,000 best known as the longtime international headquarters of the Dow Chemical Company.Â
Video of Sanford Lake posted Tuesday evening shows a pontoon careening across a seemingly calm surface of water that had risen nearly to the underside of a bridge, reflecting a pinkish-purple sunset. In under 10 seconds, the boat meets the bridge and holds still for a breath before an unseen current grabs hold and drowns it.Â
“Are you kidding me?†a voice says.Â
David Guralnick/Detroit News via AP
Connie Methner, owner of CJ’s Hairstyling, wades through the mud covering the inside of her salon in Sanford, Michigan, on May 21, 2020.Â
Midland County is no stranger to flooding, but this week’s event was historic. The Tittabawassee crested at 35.05 feet, topping the previous record of 33.94 feet set during a major flood in 1986. The state’s Democratic governor, Gretchen Whitmer, declared a state of emergency Tuesday night, urging residents in the flood zone to seek shelter with family or friends or head to one of several shelters set up in schools that have been closed for weeks.
It’s an economic and humanitarian disaster. And then, of course, there’s the pandemic.
“This is truly a historic event that’s playing out in the midst of another historic event,†Whitmer said at a press conference on Tuesday.Â
In the Midland area, the effects of COVID-19, the illness caused by the coronavirus, have been relatively mild. Cases in the county have flattened over the past several weeks, currently standing at a total of 76, with eight deaths and 49 recoveries, according to Johns Hopkins University.
The same is not true of communities in the southeastern part of the state, including Detroit, with some of the highest COVID-19 mortality rates in the nation. Whitmer enacted precautionary stay-at-home orders statewide to ensure no other region sees such a spike in cases.
A Perfect Storm
The Midland area’s economic situation is direr given the statewide order to keep theaters, restaurants and bars closed through May 28.
Miranda Hess, a legal assistant in Midland, described surveying damage to one relative’s hard-hit home in Sanford. The water had reached the top of the steps to the second floor before it receded, leaving a crumbling first-floor ceiling and a 4-inch layer of mud and dirt “everywhere inside and out,†she said. Only the belongings on the upper floor could be salvaged. The hot tub was missing.
Other things vanished, too.
“There was a red house, it was an old farmhouse just across the Curtis Road Bridge,†said longtime resident Alice Such, who served as Edenville Township supervisor for several years until the mid-2000s. “You would never know a house was there.â€
“It’s just heartbreaking, you know,†she told HuffPost, adding that her household was lucky not to have lost more than a pontoon boat and a shed ― in other words, “just stuff.â€
Jake May/The Flint Journal, MLive.com via AP
Ruins of the Curtis Road Bridge lie asunder as waters continue to roil on May 20, 2020, in Edenville Township north of Midland. After two days of heavy rain, the Edenville Dam failed and floodwaters rushed south, ravaging the landscape in its path.Â
No fatalities or injuries have been reported. Many people in the sprawling neighborhoods east of the river were spared, while others were left dealing with basements that had flooded to varying degrees. (At least one person found a live fish in their home floodwaters.) Around 10,000 people in Midland, however, were forced to flee their homes, alongside close to 1,000 people from nearby towns, including Sanford and Edenville.Â
In Sanford, Hess said, businesses were already struggling with closures due to the coronavirus. She is “very concerned about their ability to rebound†from the added economic stress.
Armin Mersmann, an artist living in Midland with his wife, was among those spared the worst of the flooding just blocks away ― his home sits on an elevated street. Another artist he knows wasn’t so lucky; with studio space in the flood zone, the man lost 50 years’ worth of work and supplies. Many people haven’t been able to access their homes to assess the damage, he said.Â
As people come together to deal with the impact of the flooding, Mersmann worries about the harm a spike in coronavirus cases would do to the community.
“All of a sudden, people forgot about this virus,†he said, having seen a lot of maskless people checking out damage around town.Â
Armin Mersmann
Floodwaters overwhelm a bridge two blocks from the home of Armin Mersmann, a Midland-based artist.
‘We’re Just Trying To Help Each Other Out’
Whether or not a deadly virus is spreading, neighbors want to help neighbors. A Midland realtor, Badger Beall, told HuffPost Wednesday that he’d spent the morning helping a business partner move some of her belongings to safety.Â
“I guess we’re all just trying to help each other out. Some people are doing astronomical amounts, and some people are just doing their little share all over the place,†Beall said.
Whereas the 1986 flood was a “100-year event,†Midland City Manager Brad Kaye told reporters, a flood like this only comes along every 500 years.
“We have never been through an event such as the one we’re experiencing today,†Kaye said at a press conference.Â
Wednesday’s weather became oddly cheery. A main Midland thoroughfare, M-20, stood covered in mud-colored water sparkling against a perfectly clear sky.Â
Kaleto’s prediction turned out to be correct: Photos showed Wixom Lake looking like a craggy desert, leaving boat docks out to dry. Downstream, more photos showed Sanford Lake nearly completely empty, revealing a golden sandy bottom dotted with sticks and debris.
Warning SignsÂ
Both lakes were popular warm-weather destinations for fishing and boating ― particularly the unmoving variety, where everyone hangs out on the water enjoying the sun. They formed in the 1920s when the dams went up, providing hydroelectric power to the region.Â
By this year, standing at nearly 100 years old, both dams were well known to have structural deficiencies. Due to their private ownership, Such said, there was little local government officials could do. Only in the past few years was a plan concocted to transfer ownership of four local dams, including Sanford and Edenville, to a quasi-governmental group called the Four Lakes Task Force to spend up to $35 million bringing the structures into the 21st century.
Records with the Federal Energy Regulatory Commission show that the dams’ owner, a company called Boyce Hydro, had been neglecting them for years, repeatedly missing deadlines to comply with safety regulations to prevent overflow.Â
Jake May/The Flint Journal, MLive.com via AP
Sanford resident Clint Clark, 44, walks out into what was once the bottom of Wixom Lake after water washed out due to the failure of the Edenville Dam on May 20, 2020.
Boyce Hydro kept saying it could not make the improvements due to “financial hardship†while refusing to provide documentation of any such problems. In a 2018 order revoking the company’s license to operate the dams, the FERC replied “as sarcastically as a regulatory agency can,†as Slate’s Ben Mathis-Lilley put it.Â
“The Commission will not rely on factual representations regarding Boyce Hydro’s financial status when it later claims evidence regarding those representations is not germane to the matter at hand,†said the FERC.
Last spring, both sides reached a tentative agreement to transfer ownership to the task force. At the time of the dams’ failure, however, Boyce Hydro was still the technical owner.Â
There is also some evidence, Kaye told HuffPost, that the Smallwood Dam ― upstream of both Sanford and Edenville ― may have overflowed and set off the disaster in the first place. The Smallwood structure is also owned by Boyce Hydro.
Whitmer has promised that the state will “pursue every line of legal recourse†against those responsible for the dam failures.Â
Crumbling infrastructure is hardly unique to Michigan. Some 1,680 dams across the U.S. are in bad condition, putting an unknown number of homes and businesses in danger of potentially life-threatening flooding, according to an Associated Press investigation released in November. Many are at least a half-century old and no longer prepared to face the challenges of more extreme weather brought on by a warming climate.Â
The destruction in the Midland area might even represent a best-case scenario, considering how quickly local authorities responded to give residents time to get out. Sometimes, dams fail without warning.
“They just fail, and suddenly you can find yourself in a situation where you have a wall of water and debris racing toward your house with very little time, if any, to get out,†a former Federal Emergency Management Agency official told the AP.
Although the floodwaters were still receding around mid-Michigan on Thursday, some locals have already taken an optimistic view.Â
Tony Stamas, president and CEO of the Midland Business Alliance, pointed out that the floodwaters hadn’t damaged downtown Midland’s Main Street, which sits on a hill. His group will now help local businesses navigate “parallel paths†through the coronavirus and flooding crises, he told the Detroit News.Â
The City of Midland also appears to have been spared potentially worse damage. Although water escaped the Sanford Dam and caused massive flooding, the structure appears at least partially intact. Officials will not know the extent of the damage until floodwaters recede.Â
“Midland County is a very generous, heartwarming, giving community,†Such said. “We will rally, and we’ll get through this.â€
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(CNN) — We all know that travel broadens the mind. Thanks to that place on the seafront that sells delicious gelato, it has a tendency to broaden other body parts too.
We can’t deliver you two scoops of pistachio, but we can keep flexing those brain cells while your next trip across the world is on hold.
CNN Travel’s experts have been compiling some tricky questions to test your knowledge of the planet and to kindle your curiosity for more.
Think you can outsmart us? Try answering the following without resorting to Google. By all means hop on a video call to get family and friends in on the challenge.
There’s a link out to the answers at the end. We trust you not to do any peeking!
1. Which of these cities has not hosted the Summer Olympics?
a. Amsterdam; b. Madrid; c. Helsinki; d. Tokyo; e. Rome
2. Can you identify the city from its skyline?
Getty Images
3. The London Underground, or Tube, is the world’s oldest metro rail system. Which city has the second oldest electrified system?
4. Some nations have more than one capital city. Can you identify these countries by their perhaps lesser known capitals?
a. Brno; b. Sri Jayawardenepura Kotte; c. Putrajaya; d. ValparaÃso
5. In which city is the world’s tallest building?
6. Can you name the city from these landmark places of worship?
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7. Which city has the world’s oldest Chinatown?
a. San Francisco; b. London; c. Manila; d. Jakarta; e. Toronto
8. Can you identify the city from the name of its airport?
a. General Edward Lawrence Logan; b. Hamad International; c. O.R. Tambo International; d. Soekarno-Hatta International
9. Name the world’s highest capital city
10. Which three destinations are widely recognized as the world’s only three sovereign city states?
1. Which famous aircraft made its last flight on November 26, 2003?
2. Before the Covid-19 pandemic, what was the world’s busiest airport in terms of passengers?
a. Beijing Capital; b. London Heathrow; c. Amsterdam Schiphol; d. Los Angeles, e. Hartsfield-Jackson Atlanta
3. Identify the airlines by their tailfin logos
4. What type of airplane is the US President’s Air Force One?
a. Gulfstream III; b. Boeing VC-25; c. Airbus A320; d. Boeing 777-300ER; e. Antonov An-148
5. Which two countries were connected by the Kangaroo Route?
6. Which direction — north, east, south or west — would you travel between these airports identified only by their codes? (Five bonus points if you can identify all the cities)
a. LAX to HNL; b. LGA to MCO; c. LHR to JNB; d. BKK to PVG; e. ARN to SVO
7. Match the massive airplane to its nickname
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a. Whale; b. Queen; c. Dream. d. Superjumbo
8. Which airline had the most aircraft at the beginning of 2020?
a. Delta Airlines; b. American Airlines; c. Cathay Pacific; d. Virgin Atlantic; e. JetBlue
9. Why is three the magic number for the following aircraft?
Hawker Siddeley HS-12, the Tupolev Tu-154, the Lockheed L-1-1011, Boeing 727?
10. What aviation first did Amelia Earhart achieve in 1928?
1. Where in the world can you find these pyramids?
Getty Images
2. What is the world’s largest island?
3. Which country is home to Europe’s largest natural desert?
4. Match the image to the US national park?
Getty Images
a. Canyonlands; b. Yellowstone; c. Grand Canyon; d. Yosemite
5. Can you name the oceans that make up the so-called seven seas?
6. What links Java Trench, Challenger Deep, Molloy Deep, South Sandwich Trench, Puerto Rico Trench?
7. Match these desert oddities to the locations below
Getty Images/Plan South America/Barry Neild
a. Qatar; b. Chile; c. Texas; d. Namibia
8. Which is the only one of the world’s 10 longest rivers to flow northward?
9. Where can you no longer see the Azure Window?
10. Which place receives the most annual rainfall?
a. Manchester, England; b. Mawsynram, India; c. Seattle, Washington; d. Quibdó, Colombia
1. Which two Asian destinations separated by the sea were linked by 55 kilometers of bridge and tunnel in 2018?
2. Match the image to the New York bridge
Getty Images
a. Manhattan; b. Queensboro; c. Williamsburg; d. Brooklyn
3. Which towering French engineer designed the Bolivar Bridge in Peru, the Truong Tien Bridge in Vietnam and the Imbaba Bridge in Egypt?
4. Which country is home to the world’s longest bridge?
5. Match the image to the London bridge
Getty Images
a. Millennium; b. Hammersmith; c. Tower; d. Westminster
6. What would happen if you tried to cross France’s Rhône River on the Pont d’Avignon?
7. Can you identify the following famous bridges?
Getty Images
8. Which two continents are connected by the Yavuz Sultan Selim Bridge?
9. What caused part of the Pont Des Arts bridge in Paris to collapse in 2015?
10. Which country is home to this handy structure?
LINH PHAM/AFP/AFP via Getty Images
1. Which city has the most Michelin stars?
2. Mirazur was named top of the World’s 50 Best Restaurants list in 2019. In which country is it?
3. Can you identify the country from the classic dessert?
Shutterstock
4. What are the bubbles commonly made of in bubble tea?
5. The world’s “happiest country” also consumes the most coffee per capita. Name the country?
6. Which antipodean dessert is named for a ballerina?
7. Can you match these four British dishes to their names (without laughing)?
Suzanne Plunkett
a. Eton Mess; b. Toad in the hole; c. Scotch egg; d. Spotted dick
8. Kartoffelknoedel, xiaolongbao, manti and pierogi are all types of what?
9. What color or colors is Neapolitan ice-cream?
10. Chef Mary Mallon worked in kitchens in New York and Long Island in the early 20th century. By what unhygienic name is she better known?
1. What do Colombia, Sao Tome & Principe, Gabon, Uganda, Maldives and Kiribati all have in common?
2. Which three Asian countries topped the list in April 2020 for the most powerful passports for visa-free travel, according to the Henley Passport Index?
3. Which country has the most official languages?
4. Four red, white and blue flags, four different countries. Name them
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5. What happened in Samoa and Tokelau on December 30, 2011?
6. Which country changed its name to eSwatini in 2018?
7. Identify these countries from their outlines
8. Which is the world’s newest country?
9. These frontiers divide areas claimed by which pairs of countries?
a. The Line of Control; b. The Demilitarized Zone; c. The 49th Parallel
10. Which country is surrounded to the north, east and south by Senegal?
1. Name the protagonist in Jules Verne’s 1872 novel “Around the World in 80 Days”
2. Which four destinations have Steve Coogan and Rob Brydon visited in four series of “The Trip?”
3. Who led this ill-fated Antarctic expedition?
Hulton Archive/Getty Images
4. Whose fictional crusade took him from Utah to Portugal, Venice, Austria, Berlin and then Petra?
5. What record did US journalist Nellie Bly break in 1890?
6. Where did Anthony Bourdain have lunch with former US President Barack Obama?
Zero Point Zero for CNN
7. Norwegian Thor Heyerdahl conquered what personal fear to cross the Pacific Ocean on his Kon-Tiki balsa wood raft in 1947?
8. What have John “Wedge” Wardlaw, Mark Rumer-Cleary, Dallas Burney, John Molony and John Dickson done every five years since 1982?
9. Why doesn’t Dora the Explorer wear Boots?
10. Here she is in India in 1983, but which country has Queen Elizabeth II visited more times than any other?
Fox Photos/Hulton Archive/Getty Images
1. Actor Stanley Tucci has proved his awesomeness by showing the Internet how to make the perfect Negroni. His recipe calls for double the usual quantity of which liquor?
2. In “The Devil Wears Prada,” Tucci’s character Nigel is overlooked for the job of Runway magazine’s creative director. Which city is he in when he finds out?
a. Paris; b. New York; c. Milan; d. Pittsburgh
3. Tucci has been involved in making a new travel series with CNN looking at the food of which country?
a. France; b. The United States; c. Italy; d. Croatia
4. In the 2004 movie “The Terminal,” Tucci plays Frank Dixon, the customs chief trying to prevent Tom Hanks’ character from living in his airport. Which airport is the movie set in?
5. Does Tucci prefer his Negroni straight up or on the rocks?
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That’s it. You made it to the end. Now fix yourself a drink and click the link below to see the answers and find out how you did.
Baltimore Mayor Bernard “Jack†Young (D) has urged President Donald Trump to cancel his scheduled Memorial Day visit to the city, which remains under a stay-at-home order amid the coronavirus pandemic.
“Please stay home!†Young tweeted at Trump on Thursday.
In a statement shared on Twitter, Young said Trump was sending “the wrong message to our residents, many of whom have been disproportionately impacted by the COVID-19 virus†with his planned trip to the Fort McHenry National Monument and Historic Shrine.
“I wish that the President, as our nation’s leader, would set a positive example and not travel during this holiday weekend,†Young added.
ASSOCIATED PRESS
Baltimore Mayor Bernard “Jack†Young is urging President Donald Trump to cancel his scheduled Memorial Day visit to the city.
He also argued against the high cost the city would incur from the presidential visit. Baltimore is “still dealing with the loss of roughly $20 million in revenue per month†because of the public health crisis and “simply can’t afford to shoulder†the price tag that would accompany Trump’s trip, he wrote.
“I would hope that the President would change his mind and decide to remain at home,†added Young. “If he decides, however, to move forward with his scheduled trip to Baltimore we will, of course, be prepared for his visit.â€
Dear Mr. President @realDonaldTrump, please stay home! The City of Baltimore is currently under a Stay at Home order for the safety of our residents, who have been hit hard by #COVID19. pic.twitter.com/7FwrHIHyeX
— Mayor Bernard C. Jack Young (@mayorbcyoung) May 21, 2020
Young early last year slammed Trump over his criticism of the city, during which the president attacked the late Rep. Elijah Cummings (D-Md.), calling the congressman who died in October a “brutal bully†and describing his majority-black Baltimore district as a “rodent-infested mess.â€
“If you want to help us, help us. Don’t talk about us. Send the resources that we need to rebuild America,†Young fired back at Trump at the time. “He’s talking about he wants to make America great again. Put the money in the cities that need it the most, and that way you can make America great again.â€
Michigan Attorney General Dana Nessel (D), meanwhile, has also said Trump is now unwelcome in the state after the president refused to wear a face mask in front of reporters during Thursday’s visit to a Ford plant. He did briefly don a mask.
“The president is a petulant child who refuses to follow the rules, and I have to say, this is no joke,†Nessel told CNN.
Check out Nessel’s comments here:
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Yet the United Kingdom is also racing toward a self-imposed deadline to construct a post-Brexit trade agreement with the European Union, its single biggest market for exports, by the end of the year. Talks are not going well — raising the possibility of another major shock just as the expected economic recovery gains momentum.
“The whole of the advanced world is in recession because of the coronavirus,” said Kallum Pickering, senior economist at Berenberg Bank. “But the UK has an additional problem of the UK-EU negotiations in the second half of the year.”
Even without considering the implications of Brexit, the UK economy is in dire straits.
The Bank of England said earlier this month that the economy could shrink by 14% this year. That would be the biggest annual contraction since a decline of 15% in 1706, based on the bank’s best estimate of historical data. GDP could fall by 25% in the three months to the end of June.
Data released by the UK government in recent days has been harrowing. Claims for unemployment benefits soared by 69% to almost 2.1 million last month. Inflation in April, meanwhile, declined for its third consecutive month to 0.8%, raising concerns that prices could be entering a damaging downward spiral.
Restaurants and non-essential shops remain closed, and economists aren’t confident that activity will pick up right away once they reopen.
The grim mood was reflected Wednesday when the UK government sold its first bond ever with a negative yield. This indicated demand was so high that investors were essentially willing to pay the British government to lend it money.
Gilts, as they’re known, are considered a safe-haven asset, alongside US, Japanese and German government bonds; elevated demand signals that investors are worried economic growth will remain depressed.
“The markets are reflecting the economic reality, which is that the economy has collapsed,” said Robert Wood, chief UK economist at Bank of America.
The British pound has dropped more than 8% since the start of the year to less than $1.22, and has also fallen more than 5% against the euro. The FTSE 100(UKX) index in London has lost more than 21% year-to-date, compared to nearly 9% for the S&P 500, while the FTSE 250 index of midsize British companies is down more than 26%.
Attempting to stem the vast economic damage, the UK government borrowed £62.1 billion ($75.7 billion) in April, the highest level since records began in 1993. The government now projects it will need to borrow £298.4 billion ($363.3 billion) through March 2021, almost twice as much as at the height of the global financial crisis.
And Bank of England Governor Andrew Bailey even hinted this week that official interest rates — currently 0.1% — could go negative for the first time in British history. His comments have encouraged speculation that the bank could opt for negative rates in 2021, should the economy need another shot in the arm then.
“What the Bank of England has done is remove the floor on policy rates, so you can’t assume they will definitely not cut” below zero, Wood said. “That said, clearly negative rates are one of the last resorts here.”
Brexit clock ticking
The risk they may be needed is rising because UK Prime Minister Boris Johnson has committed to nailing down the terms of the UK’s new relationship with the European Union by the end of 2020, following its exit from the bloc in January.
Failure to reach an agreement could subject UK companies to steep new tariffs, threaten their supply chains and maketheir products and services more expensive at the worst possible moment. The United Kingdom has until June 30 to ask for an extension to the deadline, but the Johnson government has consistently said it does not want to do this.
Talks are not going well, however. Michel Barnier, the EU’s chief Brexit negotiator, said last week that he was “not optimistic” about reaching a deal with the United Kingdom, adding that the EU will step up preparations for the year to end without new terms of trade in place.
The UK’s chief Brexit negotiator, David Frost, said in a letter to Barnier on Tuesday that the EU was offering up “a relatively low-quality trade agreement.”
Without a deal, industries that have already been hit hard by the pandemic would be battered even more.
David Henig, a former trade negotiator and director of the UK Trade Policy Project at the European Centre for International Political Economy, said on Twitter Thursday that a 10% tariff on cars shipped to the European Union would kick in if an agreement isn’t reached, threatening at least £15 billion ($18.3 billion) in exports.
Pickering of Berenberg Bank is concerned that the running clock on Brexit talks could create problems for the United Kingdom in the second half of the year, when economic growth is meant to be picking back up.
Household spending, which makes up around 70% of GDP in the UK, will determine the trajectory of the UK’s recovery, he said. As the lockdown ends, the worry is thatBritons will keep saving their money due to anxiety about their jobs or a second wave of infections, limiting the impact of government and central bank relief efforts.
Uncertainty tied to Brexit will only encourage that excessivesaving, according to Pickering.
Even if the United Kingdom does reach a new trade agreement with the European Union, itwon’t be as favorable as the old regime. Johnson is pushing for a deal that would allow the United Kingdom to also strike an agreement with trading partners such as the United States.
In the draft proposal released by the UK government this week, Britain reaffirmed that it does not want to be part of the EU single market, and is instead seeking a deal in line with what the bloc has in place with Canada or Japan.
“Worsening your trade terms with the destination for nearly half your exports will be an economic negative,” Bank of America’s Wood said. “[It’s] another reason to expect the recovery from this crisis to be a very elongated U [shape], and not a V.”
Irish Prime Minister Leo Varadkar echoed this view on Thursday.
“Brexit will further complicate matters,” Varadkar said. “As I said a few months ago, Brexit’s not over. It’s only halftime.”
Australia’s Deputy Prime Minister Michael McCormack | Sam Mooy/Getty Images
The salvo is the latest in a string of measures Beijing has taken against Australia after the country called for a global inquiry into the origins of the coronavirus.
SYDNEY — Australia’s Deputy Prime Minister Michael McCormack said the country is “very concerned” about reports the Chinese government has told state-owned power plants not to buy Australian thermal coal and instead buy local.
“Of course we’re very concerned by it,†McCormack told ABC radio on Friday, adding that Trade Minister Simon Birmingham and Australian diplomats were attempting to resolve the issue. “We want to make sure that our coal exports have a destination,†he added.
Thermal coal is Australia’s second-largest commodity export to China, after iron ore — and the Global Times, a mouthpiece of the Chinese government, indicated that could be next in the firing line.
“China-Australia relations have ebbed because of Canberra’s incessant efforts to spearhead an independent probe of the COVID-19 outbreak in China in order to stigmatize the country,” the Global Times wrote Wednesday. “Analysts speculate that Australia’s iron ore export to China could fall victim to the rising bilateral tensions.”
On Friday, the newspaper said: “A trade spat is escalating between China and Australia, with the interests of a considerable number of Australian farmers caught in the middle.”
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DUBAI, United Arab Emirates (AP) — The family of slain Washington Post columnist Jamal Khashoggi announced Friday they have forgiven his Saudi killers, giving legal reprieve to the five government agents who’d been sentenced to death for an operation that cast a cloud of suspicion over the kingdom’s crown prince.
“We, the sons of the martyr Jamal Khashoggi, announce that we forgive those who killed our father as we seek reward from God Almighty,†wrote one of his sons, Salah Khashoggi, on Twitter.
Salah Khashoggi, who lives in Saudi Arabia and has received financial compensation from the royal court for his father’s killing, explained that forgiveness was extended to the killers during the last nights of the Muslim holy month of Ramadan in line with Islamic tradition to offer pardons in cases allowed by Islamic law.
The announcement was largely expected because the trial in Saudi Arabia left the door open for reprieve by ruling in December that the killing was not premeditated. That finding was in line with the government’s official explanation of Khashoggi’s slaying that he was killed accidentally in a brawl by agents trying to forcibly return him to Saudi Arabia.
Prior to his killing, Khashoggi had written critically of Saudi Arabia’s crown prince in columns for the Washington Post. He’d been living in exile in the United States for about a year as Crown Prince Mohammed bin Salman oversaw a crackdown in Saudi Arabia on human rights activists, writers and critics of his devastating war in Yemen.
In October 2017, a team of 15 Saudi agents was dispatched to Turkey to meet Khashoggi in the Saudi Consulate in Istanbul for what he thought was an appointment to pick up documents needed to wed his Turkish fiance. The group included a forensic doctor, intelligence and security officers and individuals who worked for the crown prince’s office.
Turkish officials allege Khashoggi was killed and then dismembered with a bone saw. The body has not been found. Turkey, a rival of Saudi Arabia, apparently had the Saudi Consulate bugged and has shared audio of the killing with the CIA, among others.
The grisly killing, which took place as his Turkish fiance waited for him outside the building, drew international condemnation of Prince Mohammed.
The 34-year-old prince, who has the support of his father King Salman, denies any involvement. U.S. intelligence agencies, however, say an operation like this could not have happened without his knowledge and the Senate has blamed the crown prince for the murder.
After initially offering shifting accounts of what transpired, and under intense international and Turkish pressure, Saudi prosecutors eventually settled on the explanation that Khashoggi had been killed by Saudi agents in an operation masterminded by two of the crown prince’s top aides at the time. Neither was found guilty in trial, however.
In addition to the five who had been sentenced to execution, the Saudi trial concluded last year that three other people were found guilty of covering up the crime and were sentenced to a combined 24 years in prison. In all, 11 people were put on trial in Saudi Arabia for the killing.
Saudi media outlet Arab News sought to clarify Friday that the announcement made by Khashoggi’s sons may spare the convicted killers from execution, but does not mean they will go unpunished.
In an interview in September with CBS’ “60 Minutes,†Prince Mohammed said he takes “full responsibility as a leader in Saudi Arabia.†But he insisted that he had no knowledge of the operation, saying he cannot keep close track of the country’s millions of employees.
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The US government added Huawei to the Entity List on May 16, 2019 without justification. Since that time, and despite the fact that a number of key industrial and technological elements were made unavailable to us, we have remained committed to complying with all US government rules and regulations. At the same time, we (Huawei) have fulfilled our contractual obligations to customers and suppliers, and have survived and forged ahead against all odds.
Nevertheless, in its relentless pursuit to tighten its stranglehold on our company, the US government has decided to proceed and completely ignore the concerns of many companies and industry associations.
This decision was arbitrary and pernicious, and threatens to undermine the entire industry worldwide. This new rule will impact the expansion, maintenance, and continuous operations of networks worth hundreds of billions of dollars that we have rolled out in more than 170 countries.
It will also impact communications services for the more than 3 billion people who use Huawei products and services worldwide. To attack a leading company from another country, the US government has intentionally turned its back on the interests of Huawei’s customers and consumers. This goes against the US government’s claim that it is motivated by network security.
This decision by the US government does not just affect Huawei. It will have a serious impact on a wide number of global industries. In the long run, this will damage the trust and collaboration within the global semiconductor industry which many industries depend on, increasing conflict and loss within these industries.
The US is leveraging its own technological strengths to crush companies outside its own borders. This will only serve to undermine the trust international companies place in US technology and supply chains. Ultimately, this will harm US interests.
Huawei is undertaking a comprehensive examination of this new rule. We expect that our business will inevitably be affected. We will try all we can to seek a solution. We hope that our customers and suppliers will continue to stand with us and minimize the impact of this discriminatory rule.
Epidemiologist Julia Marcus, an assistant professor at Harvard Medical School, warned of the pitfalls of “abstinence-only messaging†amid the coronavirus pandemic.
During CNN’s global town hall on the public health crisis on Thursday, Marcus said a possible side effect of attempting to totally eliminate the risk of spreading the virus (which she accepted is currently not possible) was people shaming others on social media “for what seems to be risky behavior.†That shaming, she said, drives those activities underground, possibly to an indoor dinner party, “which we know is going to be actually higher risk.â€
“The last thing we want is for contact tracers to be trying to trace people who may have been exposed in an outbreak and people not being willing to disclose they attended an event,†Marcus said.
Marcus instead advocated a harm-reduction approach that equips people with the knowledge and tools to differentiate between high-risk and low-risk activities.
People can’t stay inside forever or until a vaccine is developed, which could take several months or even years, she noted. The “all-or-nothing approach, where we’ve really been telling people to stay home,†was needed during the pandemic’s first months, she said.
But now, a more sustainable strategy is required, she said.
To that end, Marcus said she was “very happy†to hear Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and member of the Trump White House coronavirus task force, encouraging people during the same town hall to “go out†over Memorial Day weekend (while still avoiding crowds, wearing masks and maintaining physical distance).
“I think that’s the approach we need moving forward, is to encourage people to be outdoors where we know the risk of transmission is much lower,†said Marcus.
Check out the interview here:
Epidemiologist Julia Marcus says “abstinence-only messaging” and trying to totally eliminate risk can backfire. “If we start to see people gathering in a park… and call them out on social media, then what they might do is take that indoors and have a dinner party.”#CNNTownHallpic.twitter.com/NK4tSR5ITH
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