Home Blog Page 9096

DeChambeau wins maiden major

MAMARONECK, N.Y. — A bulked-up Bryson DeChambeau bashed his way to a six-shot US Open victory on Sunday, silencing any lingering questions as to whether his brawny game could translate to the major stage.

World number nine DeChambeau, who began the day two shots back of US Open debutant Matthew Wolff, clinched his first major title with a mix of jaw-dropping drives and clutch putts, shooting a virtually flawless three-under-par 67 to reach six under for the tournament.

“I did it. I did it. As difficult as this golf course was presented, I played it beautifully,” DeChambeau said of Winged Foot, on one of the hardest layouts the United States Golf Association has to offer.

Wolff (75), appearing in only his second major, was one shot back of DeChambeau at the turn, but fell apart over a back nine that included two bogeys and a double-bogey.

A fearless DeChambeau, whose final round included an eagle, two birdies and a bogey, attacked at every chance and for his efforts was the only player to break par in the final round as he cruised to a maiden major at his 16th attempt. — Reuters

Clinging to wild card hopes, Mets host Braves again

THE NEW YORK METS’ playoff hopes looked pretty dim following a Friday night in which they lost by 13 runs and almost everyone else battling for the final National League wild card spot won.

But the Mets’ picture doesn’t look nearly as bleak following a Saturday in which they won and almost everyone else in the race lost.

Such is life on the outside of contention looking in for the Mets, who will try to remain in the thick of things Sunday when they host the Atlanta Braves in the finale of a three-game series between the NL East rivals.

Rick Porcello (1-5, 6.06 ERA) is scheduled to take the mound for the Mets against Kyle Wright (1-4, 7.20) in a battle of right-handers.

The Mets evened the series Saturday, when rookie left-hander David Peterson earned the win by striking out a career-high 10 over six innings and Robinson Cano homered and collected three RBIs in a 7-2 victory.

A lopsided 15-2 loss to the Braves on Friday, coupled with wins by three of the four teams ahead of them in the wild card race (the Cincinnati Reds, St. Louis Cardinals and Milwaukee Brewers) left the Mets with a seemingly steep hill to climb.

But the win by the Mets (24-28) on Saturday and losses by the Reds and Giants pulled New York within 1 1/2 games of Cincinnati, San Francisco and Milwaukee for the final wild card spot.

“The fact that we can still compete for a spot makes every game important, which makes the atmosphere that much better,” said Mets reliever Justin Wilson, who preserved a 3-1 lead in the seventh by getting hot-hitting Braves first baseman Freddie Freeman to hit into an inning-ending double play. “Down the stretch, the losses hurt a little bit more and the wins feel a little bit better just because of the situation that we’re in.”

The situation isn’t nearly as precarious for the Braves (30-22), though their NL East lead over the Miami Marlins shrunk to 2 1/2 games by virtue of the Marlins’ 7-3 home win over the Washington Nationals.

A second straight solid performance by Wright — who earned his first big league win in his most recent start Sept. 13 by allowing four runs (three earned) over six innings as the Braves beat the Nationals 8-4 — would both solidify Atlanta’s playoff standing and provide more evidence he can be a member of a postseason rotation that needs reliable starters behind ace Max Fried and promising rookie Ian Anderson.

Wright has a 7.46 ERA in 50 2/3 career innings.

“I know I’m capable and I know I have great stuff,” Wright said following the win over the Nationals. “Sometimes I just have to get out of my own way. I feel like I’m getting back to that and pitching the way I can.”

Porcello took the loss Tuesday, when he gave up four runs over six innings as the Mets fell to the Philadelphia Phillies, 4-1. He is 0-4 with a 5.75 ERA in his last seven starts.

Porcello is 3-2 with a 5.10 ERA in six career starts against the Braves. Wright is 0-1 with a 9.00 ERA in three games (two starts) against the Mets. — Reuters

Brady beats Panthers for first win with Bucs

TOM BRADY threw a touchdown pass and Leonard Fournette scored two touchdowns as the Tampa Bay Buccaneers defeated the visiting Carolina Panthers 31-17 on Sunday afternoon in Tampa, Fla.

It was the home opener and the first victory for Brady, a six-time Super Bowl winner, in a uniform other than the New England Patriots.

Brady, a week after receiving criticism from coach Bruce Arians, completed 23 of 35 passes for 217 yards with an interception. Fournette’s 46-yard touchdown ramble with 1:48 to go put him at 103 rushing yards on 12 carries for the Buccaneers (1-1).

The Panthers (0-2) committed turnovers on their first two possessions under first-year coach Matt Rhule, whose team fell into a 21-0 hole.

Christian McCaffrey scored on second-half runs of one and seven yards for Carolina. Teddy Bridgewater completed 33 of 42 passes for 367 yards with two interceptions.

Bridgewater’s interception and fumble marked the first two Carolina turnovers.

Tampa Bay opened the scoring on a 7-yard run by Ronald Jones II. Then Brady connected with Mike Evans for a 23-yard touchdown play on the first snap following Bridgewater’s lost fumble.

The Buccaneers scored their third touchdown following Carolina’s failed fake punt in the second quarter. Fournette capped a 65-yard drive with a 1-yard run with 3:01 left in the half.

McCaffrey put the Panthers on the board with his first touchdown run at the 8:36 mark of the third quarter.

Carolina then converted on fourth-and-two from the Tampa Bay 7 when McCaffrey took a pitchout and ran to the end zone with 13:25 remaining. McCaffrey injured an ankle on the play and didn’t return.

The Buccaneers stretched their edge to 24-14 on Ryan Succop’s 33-yard field goal with 6:18 left. That came a play after LeSean McCoy dropped a would-be touchdown pass in the end zone.

Joey Slye’s 23-yard field goal with two minutes left cut the margin to 24-17, but the Panthers had only two timeouts left. Tampa Bay’s Rob Gronkowski recovered Carolina’s onside kick before Fournette’s second touchdown run.

Tampa Bay played minus receiver Chris Godwin, who led the team in receiving yards in the opener but is in the concussion protocol. The Panthers were without veteran defensive tackle Kawann Short due to an ankle injury. — Reuters

Halep to meet Pliskova in Italian Open title clash

ROME — Top seed Simona Halep overcame Spaniard Garbine Muguruza 6-3 4-6 6-4 on Sunday to reach the Italian Open final and stay on course for her third straight WTA title.

Halep, who skipped the US Open amid the COVID-19 pandemic, won the Dubai title before the Tour was suspended and lifted the Prague crown on its resumption.

The Romanian, who is looking to extend her winning run to 14 matches and seal a first title in Rome, will next face Karolina Pliskova after the Czech beat compatriot Marketa Vondrousova 6-2 6-4 in the second semi-final.

Halep, the 2018 Roland Garros champion cruised through the opening set and was on course for an easy win but Muguruza, who took a medical timeout for a back issue, battled back from 2-4 down to win the second set and force a decider.

Watched by a small group of fans who were welcomed back for the first time since the Tour was shut down, Halep regained focus in the third set and switched gears to surge ahead 5-1.

Muguruza was not done yet, however, as she clawed her way back to 5-4. But the 2016 French Open champion, who was serving to stay in the match, made successive double faults to gift victory to Halep.

“She’s a very difficult player and a good player,” Halep said. “It’s always a good feeling when I win against her.”

“I know I had so many chances to maybe finish it a little bit faster and easier, but as we saw, she doesn’t give up. I’m happy I was a little bit stronger and more aggressive when I needed to be.”

Defending Rome champion Pliskova, knocked out in the second round of last month’s US Open, said she was delighted with her form on clay.

“I feel I have more time to play my game on clay, some of my best matches, victories have been on clay,” Pliskova added.

“I feel it can be for me, and with every year I prove that even more, winning smaller tournaments, indoors in Stuttgart, then Rome last year. Now, I feel like I can replicate those results without huge preparation on clay.” — Reuters

Djokovic to face Schwartzman in Italian Open final

ROME — Novak Djokovic was made to work hard by Casper Ruud in blustery conditions before the world number one got past the unseeded Norwegian 7-5 6-3 on Sunday to reach the Italian Open final.

The Serbian had to save two set points in the first set before finding his groove to reach his 10th title clash in Rome and remain on course to win his 36th ATP Masters 1000 crown and overtake Rafa Nadal on the all-time list.

He will face Diego Schwartzman in Monday’s final after the Argentine held his nerve to beat Canadian youngster Denis Shapovalov 6-4 5-7 7-6 (4) in a dramatic second semi-final.

“It was a tough two-setter today. It was over two hours for two sets,” said Djokovic, who equalled Nadal’s tally of Masters 1000 titles by winning the Western & Southern Open last month.

“I definitely had to work hard for most of the points and it was really anybody’s game in the first set.

“It was probably the windiest day since we arrived in Rome and it was quite tough to handle that. But the second set was much better. I got used to it and started swinging through the ball better.”

Djokovic started sluggishly and trailed 4-5 in the opening set, but broke back and won the final three games to take the early advantage in the contest.

The Serb, who fired 12 aces in the match, served with much better accuracy in the second set and broke to go ahead 3-2 before closing out in style.

Schwartzman, who knocked out Nadal in the quarter-finals on Saturday, will break into the top 10 of the rankings if he beats Djokovic in the title clash.

“I think if I win I’m going to be Top 10, so I just need to rest. That’s why I was fighting this match because I need those points to be close to the Top 10 and to be close to Denis,” Schwartzman said.

“Maybe [it will happen] tomorrow, maybe the next tournaments, but that was in my mind the whole match. I think that’s why I won, because I was fighting.

“I was not playing all the match my best tennis, but I felt like I took the chances at the end and that’s why I won.” — Reuters

US sets record with over 1 million coronavirus tests in a day

The United States set a one-day record with over 1 million coronavirus diagnostic tests being performed, but the country needs 6 million to 10 million a day to bring outbreaks under control, according to various experts.

The country performed 1,061,411 tests on Saturday, according to data from The COVID Tracking Project, a volunteer-run effort to track the outbreak.

The record comes after testing has fallen for several weeks.

The United States tested on average 650,000 people a day in the week ended Sept. 13, down from a peak in late July of over 800,000 people a day.

Since the start of the pandemic, testing shortages have hampered efforts to curb the spread of the virus.

At one point during the summer, Houston residents lined up in cars and waited hours for tests, even sleeping in their vehicles overnight. Miami saw similar lines.

Once tested, people may have to wait up to two weeks to learn if they have the virus, which has killed nearly 200,000 Americans and infected more than 6.7 million. Such delays defeat the purpose of trying to prevent further infections.

In March, President Donald Trump said “anyone who wants a test, gets a test.” That goal has yet to be achieved.

At the heart of the crisis is a reliance by labs on automated testing equipment that locks them into using proprietary chemical kits and other tools made by a handful of manufacturers.

The Food and Drug Administration has granted emergency use authorization to several saliva tests, which require no swabs and use readily available reagents.

The United States has also authorized pooled testing, a method that tests samples from several people at once and can expand testing capacity.

However, pooled testing is only more efficient in areas with limited outbreaks. In mid-September, 27 of 50 states had positive test rates above 5%, according to a Reuters analysis, including South Dakota at 17%.

The World Health Organization considers positivity rates above 5% concerning. — Reuters

In SUVs and on planes, richest 1% drive climate-heating emissions

LONDON — Prone to frequent flying, a passion for SUVs and big spending, the richest 1% of the world’s population produced twice as many planet-heating emissions as the poorest half of humanity over the last quarter-century, researchers said on Monday.

That excessive consumption has left little room in the world’s “carbon budget” for poorer countries to grow without pushing the planet into increasingly dangerous climate impacts, from worsening storms to water shortages, scientists said.

And it suggests that keeping global climate change under control will require not just helping poorer countries to develop cleanly, but putting in place tough measures to curb over-consumption by the world’s rich, they said in a new study.

Tim Gore, head of climate policy for anti-poverty charity Oxfam and lead author of the report, said change would not come from individuals voluntarily acting alone.

“That will never add up. This has to be driven by governments,” he told the Thomson Reuters Foundation.

The research, carried out with the Stockholm Environment Institute, found that over the 25 years between 1990 and 2015, the richest 1% of people drove 15% of climate-changing emissions—more than twice the 7% emitted by the poorest half.

The richest 10% accounted for 52% of emissions over that period, the study said.

The growing popularity of fuel-guzzling SUVs was a particular problem, with the vehicles emerging as the second biggest driver of global growth in carbon emissions between 2010 and 2018, it said.

As countries now look to recover from economic downturns linked to the COVID-19 pandemic, which have hit the poor hardest, revamping economic incentives to discourage excessive consumption could play a role, officials said.

“Our current economic model has been an enabler of catastrophic climate change and equally catastrophic inequality,” said former United Nations Secretary-General Ban Ki-moon.

The pandemic offers a chance to rethink systems—and “addressing the disproportionate carbon emissions from the wealthiest in society must be a key priority as part of this collective commitment”, he added in a statement.

Still, the scale of the emissions cuts needed by the wealthy to hold planetary heating to 1.5 degrees Celsius above pre-industrial times—the toughest goal of the 2015 Paris Agreement—is breathtaking.

The Oxfam report estimates that the richest 10% of people would have to slash their emissions to about 10 times lower than now to keep the world on track for the goal—and do it by 2030.

But with the onset of the coronavirus crisis, as well as growing demands for racial and social justice, “policies that were unthinkable a year ago are now being rolled out”, Mr. Gore said. “This is the moment to be bold and do things differently.”

Business travel, for instance, has shrunk dramatically during the pandemic, offering “a huge opportunity” to tax business-class flights, as well as private jets and frequent fliers—a move supported by a British citizens’ climate panel.

Funds raised through such levies could be used to support the poorest, by investing in healthcare and education, or to boost public transport, digital infrastructure, and other measures to make low-carbon living easier, researchers said.

France has already introduced tougher taxes on SUVs, Gore noted, while some governments like New Zealand and Scotland are shifting away from economic growth as the main measure of success toward a broader assessment of “well-being”.

And using bailout cash for energy-smart home retrofits—something that can slash emissions, improve life for the poorest and create jobs—would address two challenges at once.

“We have to tackle deep-rooted problems of inequality alongside problems like climate change,” he said. — Thomson Reuters Foundation

Duterte eases overseas travel ban on health workers

Healthcare workers from the Philippines are on the front lines of the pandemic at hospitals in the United States, Europe, and the Middle East as well as at home.

President Rodrigo R. Duterte has eased an overseas travel ban on Filipino nurses and other medical workers to allow more to take jobs abroad, his spokesman said on Monday, as his government believes it has its coronavirus outbreak under control.

Thousands of health workers, who call themselves “priso-nurses”, had appealed to the government to let them travel, Reuters reported last week. The nurses say they feel underpaid, under-appreciated and unprotected in the Philippines.

Mr. Duterte approved the proposal of the labor ministry to expand exemptions from the ban to those who had overseas contracts and complete documents as of Aug. 31, spokesman Harry L. Roque, Jr., told a regular briefing.

So far only those with contracts as of March 8 have been allowed to travel.

Mr. Roque said the president’s decision would benefit 1,500 health personnel.

“These are nurses who already spent a lot (of money) processing their papers. They are not that many so we allowed them to leave,” Mr. Roque said.

Healthcare workers from the Philippines are on the front lines of the pandemic at hospitals in the United States, Europe, and the Middle East as well as at home.

Mr. Duterte’s government in April barred nurses, doctors and other medical workers from leaving, saying they were needed to fight the coronavirus crisis in the Philippines, which is still tackling its first wave of infections.

The country has the highest number of recorded coronavirus infections in Southeast Asia with 286,743 cases. Its 4,984 deaths are second only to Indonesia.

But Mr. Roque insisted there was no reason to panic and said: “We are in control.”

“We know the enemy and we know how to fight the enemy through isolation, tracing and treatment,” Mr. Roque added. — Reuters

Why is Taiwan-China tension rising and what are the risks?

TAIPEI — China sent numerous aircraft close to Taiwan during two days of drills from Friday, causing the island’s air force to scramble, as Beijing expressed anger at the visit of a senior US official to Taipei.

WHY IS TENSION RISING NOW?
China claims democratically run Taiwan as its own territory, to be taken by force if needed, a threat the island has lived with since 1949, when defeated Kuomintang, or Nationalist, forces fled there after their defeat by the Communists in the Chinese civil war.

China has been angered by stepped-up US support for Taiwan, including two visits in as many months by top officials, one in August by Health Secretary Alex Azar and the other last week by Keith Krach, the undersecretary for economic affairs.

In addition, the United States is planning major new arms sales to Taiwan. China views all these steps as effectively being US support for Taiwan independence, with the eventual establishment of a Republic of Taiwan, a red line for Beijing.

Taiwan President Tsai Ing-wen says the island is already an independent country called the Republic of China, its formal name, and that the People’s Republic of China has never ruled Taiwan and has no right to.

China calls Taiwan its most important and sensitive issue in US ties. For China’s ruling Communist Party, Taiwan is the last part of the nation still awaiting “liberation” after the 1949 victory, adding an extra historical significance.

WHAT ARE THE RISKS?
Taiwan and China do not have an official dialogue mechanism, meaning that any accidental clash between their fighter jets, for example, could quickly spiral out of control.

Taiwan’s air force now regularly scrambles to see off approaching Chinese aircraft.

A conflict over Taiwan may suck in the United States and its Asian allies, though it is an open question whether Washington would, or could, come to Taipei’s aid.

China may quickly overwhelm Taiwan with missile and cyber attacks before the United States even has a chance to respond.

However, any war would be damaging for China too, in terms of its international reputation and economically, especially if it is subject to broad Western economic sanctions.

WHY IS TAIWAN STRATEGICALLY IMPORTANT?
Not only is Taiwan in a key geographic location on the edge of the Pacific between the disputed South China Sea and Japan, but it is a tech powerhouse, home to the world’s biggest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd.

The United States views China’s tech firms as a security risk and has moved to cut off its access to advanced chips, including those from Taiwan.

HOW DO THE ARMED FORCES OF THE TWO SIDES COMPARE?
Taiwan’s military is well-trained and well-armed, but is dwarfed by China’s People’s Liberation Army, which is adding stealth fighters, aircraft carriers, and advanced missiles in the throes of an impressive modernization program.

Ms. Tsai has made upgrading Taiwan’s military a priority, stressing “asymmetric warfare”, to make any attack as painful and as difficult for China as possible. This could include, for example, pinpoint strikes by long-range missiles on targets in China.

WHAT WOULD HAPPEN IN A WAR BETWEEN TAIWAN AND CHINA?
While China could easily overwhelm Taiwan with missiles and air attacks, it has other options to bring the island to its knees, such as cyberattacks to take down basic infrastructure, or a naval blockade to force surrender.

Whatever happens, the reaction of the United States will be crucial. — Reuters

HSBC HK shares drop to lowest since 1995, StanChart falls after ‘FinCEN’ leak

HONG KONG — HSBC and Standard Chartered’s Hong Kong shares dropped on Monday after media reports that they and other banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.

BuzzFeed and other media reports were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the US Department of Treasury’s Financial Crimes Enforcement Network (FinCen).

The revelations underscore challenges for regulatory and financial institutions trying to stop the flow of dirty money despite billions of dollars of investments and penalties imposed on banks in the past decade.

HSBC shares in Hong Kong fell as much as 4.4% to HK$29.60 on Monday morning, the lowest since May 1995, while StanChart dropped as much as 3.8% to HK$35.80, the lowest since May 25 this year.

The Hang Seng Index was down 0.4%.

HSBC and Standard Chartered, among other global banks, have paid billions of dollars in fines in recent years for violating US sanctions on Iran and anti-money laundering rules.

More than 2,100 SARs, which are in themselves not necessarily proof of wrongdoing, were obtained by BuzzFeed News and shared with the International Consortium of Investigative Journalists (ICIJ) and other media organizations.

The files contained information about more than $2 trillion worth of transactions between 1999 and 2017, which were flagged by internal compliance departments of financial institutions as suspicious.

The ICIJ reported the leaked documents were a tiny fraction of the reports filed with FinCEN.

HSBC and StanChart were among the five banks that appeared most often in the documents, the ICIJ reported.

The SARs showed that banks often moved funds for companies that were registered in offshore havens, such as the British Virgin Islands, and did not know the ultimate owner of the account, the report said.

Staff at major banks often used Google searches to learn who was behind large transactions, it said.

In a statement to Reuters on Sunday, HSBC said “all of the information provided by the ICIJ is historical.” The bank said as of 2012, “HSBC embarked on a multi-year journey to overhaul its ability to combat financial crime across more than 60 jurisdictions.”StanChart said in a statement, “We take our responsibility to fight financial crime extremely seriously and have invested substantially in our compliance programmes.” — Reuters

PAL pays 80% of $329 million refund requests

Philippine Airlines Inc. (PAL) said it has already paid back 80% of the 15.9 billion pesos ($329 million) in refund requests it received amid the coronavirus pandemic.

The carrier owned by billionaire Lucio Tan has canceled more than 60,000 flights since March, affecting over 1.3 million passengers, PAL said in a statement.

“The loss of revenues deprived us of liquidity to make prompt refund payments, even as lockdown restrictions posed serious staffing and logistical limitations,” it said.

PAL said it has restored nearly 15% of its regular local and international network and plans to ramp up flights as travel and quarantine restrictions ease. Cebu Air Inc., the nation’s largest budget carrier, said last week it has refunded 2.4 billion pesos or half of total refund requests since April. — Bloomberg

[B-SIDE Podcast] Warehousing and logistics: a bright spot in an otherwise battered economy

Thanks to e-commerce and changing consumer habits, the logistics and warehousing sector still expects to grow by 8% in the next three years despite the pandemic. This is a bright spot in an otherwise battered economy that dropped by 16.5% in the second quarter.

Sheila G. Lobien, CEO of property consultancy firm Lobien Realty Group, speaks with BusinessWorld reporter Denise A. Valdez about the impact of new consumer patterns on the future of the industry, and how the Philippines compares with the rest of Southeast Asia—8% growth is good, but that rate is slower when compared to the likes of Vietnam. Ms. Lobien shares insights on what the country has to do to get a bigger slice of the warehousing pie.

TAKEAWAYS

E-commerce and the demand for essentials—food or medical goods—is driving the logistics and warehousing sector, which continues to grow despite a general drop in real estate demand during the pandemic.

“The warehousing industry is one of the luckiest sectors,” said Ms. Lobien, who added that the pandemic has sped up the growth of the logistics and warehousing industry.

To maximize the potential of the logistics and warehousing industry, government must make good on its ‘Build, Build, Build’ projects.

Due to limited space in Metro Manila, rental rates in Central Business Districts have increased to P1,000/square meter from about half that price two years ago. 

Big players such as Ayala Corp. and SM Prime Holdings are eyeing building warehousing facilities outside Metro Manila. Cavite, Bulacan, and Laguna are ideal locations since they are accessible, flood-free, and near the center. 

For warehouse operators to locate in the provinces, they need better infrastructure to ensure the seamless transfer of goods.

The Philippines’s logistics and warehousing sector still has a lot of room to grow to level with its regional peers.

Local demand is fueling the growth of the logistics and warehousing industry. The 8% growth rate cited by Ms. Lobien is slower compared to, say, Vietnam’s warehousing industry, which is booming thanks to government support, lower cost of utilities, better road networks, and low COVID-19 numbers. 

To catch up, the Philippines must address red tape, port congestion, and the sorry state of the country’s roads. The government must also step up its response to the worst COVID-19 outbreak in Southeast Asia.

Meanwhile, warehouse operators have to adapt to e-commerce and employ artificial intelligence and robotics to make the transfer of goods faster.

Recorded remotely on September 3. Produced by Nina M. Diaz, Paolo L. Lopez, and Sam L. Marcelo.

 

Related episode: