Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.
Amazon founder Jeff Bezos has become the world’s third richest person, according to Forbes, after strong earnings from the company.
Jeff Bezos owns 18% of Amazon’s shares, which rose 2% in trading on July 28.
Forbes estimated Jeff Bezos’ fortune to be $65.3 billion.
Amazon’s revenue beat analysts’ expectations, climbing 31% from last year to $30.4 billion in Q2 of 2016.
The company’s profit was $857 million, compared with $92 million in 2015.
According to Forbes estimates, Jeff Bezos’ fortune is only surpassed by Microsoft founder Bill Gates, worth $78 billion, and the $73.1 billion fortune of Zara founder Amancio Ortega.
Amazon had developed a reputation for announcing little or no profit each quarter, but appeared to hit a turning point last year and has seen improving earnings since.
Amazon shares have spiked 50% since February.
Its Prime membership, which offers extra services including free shipping for an annual fee, saw impressive international growth.
In June, Amazon launched Prime in India to take advantage of the country’s large consumer market.
Jeff Bezos said: “It’s been a busy few months for Amazon around the world, and particularly in India – where we launched a new [Amazon Web Services] Region, introduced Prime with unlimited free shipping, and announced that Prime Video is coming soon, offering Prime members in India exclusive access to Amazon Original Series and Movies – including original content featuring top Indian creators and talent.”
Amazon has boosted Prime membership by improving its video streaming offerings, an area in which it competes with Netflix.
Prime Day, Amazon’s annual promotional shopping festival earlier this month, was the company’s largest ever sales day.
Amazon does not release figures for its Prime membership, but Consumer Intelligence Research Partners estimated US membership to be close to 63 million. Members spend an average of $1,200 a year, compared with $500 by non-members, according to the research company.
The company’s cloud computing unit also spiked. Revenue for Amazon Web Services (AWS), climbed 58.2% to $2.89 billion, beating analysts’ exceptions of $2.83 billion.
Sales growth for the unit in North America climbed 10% and 8% in the rest of the world.
Amazon has grown its market share in cloud computing compared with rivals such as Microsoft and Google.
It introduced a new Asia Pacific region for its cloud unit this quarter.
Amazon has also been looking to expand its presence in other areas. The company has now launched its online grocery store in the UK.
Earlier this month, it announced a partnership with US bank Wells Fargo to offer discounts on student loans for members of its Prime Student services.
Russia will not be totally banned from Rio 2016 following the country’s doping scandal.
The International Olympic Committee (IOC) will leave it up to individual sports’ governing bodies to decide if Russian competitors are clean and should be allowed to take part.
The IOC decision follows a report in which Canadian law professor Richard McLaren said Russia operated a state-sponsored doping program from 2011 to 2015.
The Rio Olympic Games start on August 5.
Russian competitors who want to take part in the Games will have to meet strict criteria laid down by the IOC.
Any Russian who has served a doping ban will not be eligible for next month’s Olympics. Track and field athletes have already been banned.
IOC president Thomas Bach said: “We have set the bar to the limit by establishing a number of very strict criteria which every Russian athlete will have to fulfill if he or she wants to participate in the Olympic Games Rio 2016.
“I think in this way, we have balanced on the one hand, the desire and need for collective responsibility versus the right to individual justice of every individual athlete.”
IOC’s decision not to impose a blanket ban came after a three-hour meeting of the body’s executive board, and reaction came quickly.
Russian Sports Minister Vitaly Mutko described the decision as “objective” but “very tough”, while the United States Anti-Doping Agency (USADA) claimed the IOC had “refused to take decisive leadership”.
The 28 individual federations now have just 12 days to “carry out an individual analysis of each competitor’s anti-doping record, taking into account only reliable adequate international tests, and the specificities of each sport and its rules, in order to ensure a level playing field”.
The International Tennis Federation quickly confirmed on July 24 that Russia’s seven nominated tennis players meet the IOC requirements, having been subjected to “a rigorous anti-doping testing program outside Russia”.
Russia’s full Olympic team would consist of 387 competitors.
The International Association of Athletics Federations (IAAF) has already ruled that Russian track and field athletes will not compete at the Games, a decision which was upheld on July 21 by the Court of Arbitration for Sport (CAS).
IAAF president Lord Sebastian Coe said: “The IAAF team are ready to offer advice to any International Sports Federations given our experience and what we have learned over the last eight months.”
World Anti Doping Agency (WADA) president Craig Reedie said previously that his organization, which commissioned the McLaren report, wanted the IOC to “decline entries for Rio 2016 of all athletes” submitted by the Russian Olympic and Paralympic committees.
The IOC also confirmed it will not allow whistleblower Yulia Stepanova to compete as a neutral athlete in Rio.
Yulia Stepanova has previously failed a doping test and also did not satisfy the IOC’s “ethical requirements”.
The statement added: “The executive board would like to express its appreciation for Mrs. Stepanova’s contribution to the fight against doping and to the integrity of sport.”
The IOC was “expressing its gratitude” to Yulia Stepanova by inviting her and her husband to Rio as guests.
USADA chief Travis Tygart described the decision to exclude Yulia Stepanova as “incomprehensible”, adding it will “undoubtedly deter whistleblowers in the future from coming forward”.
Russia will remain banned from track and field events at this year’s Rio de Janeiro Olympics following claims the country ran a state-sponsored doping program.
The Russian Olympic Committee (ROC) and 68 Russian athletes attempted to overturn the suspension, implemented by the IAAF.
However, the Court of Arbitration for Sport (CAS) has ruled the suspension can stand.
A handful of Russian athletes could still compete as neutrals at the Rio Games, which start on August 5.
“It’s sad but rules are rules,” said Olympic 100m and 200m champion Usain Bolt, who will be chasing more gold medals in Rio.
Usain Bolt said it was important to send a strong message to the dopers.
Russian pole vaulter Yelena Isinbayeva – one of the 68 to appeal to CAS – said the ruling was “a blatant political order”.
The 2012 gold medalist, 34, told the Tass news agency: “Thank you all for this funeral for athletics.”
The International Association of Athletics Federations (IAAF) said it was “pleased CAS has supported its position”, adding that the judgement had “created a level playing field for athletes”.
IAAF president Lord Coe added: “This is not a day for triumphant statements. I didn’t come into this sport to stop athletes from competing.
“Beyond Rio, the IAAF taskforce will continue to work with Russia to establish a clean safe environment for its athletes so that its federation and team can return to international recognition and competition.”
Separately, the International Olympic Committee (IOC) is considering calls to ban all Russian competitors across all sports from the Rio Games following a second report into state-sponsored doping.
Some Russian athletes could compete in Rio as neutrals if they meet a number of criteria, including being repeatedly tested outside their homeland.
At least two – 800m runner and doping whistleblower Yuliya Stepanova and US-based long jumper Darya Klishina – have gone down that path.
Now the CAS ruling has cleared the way for more to follow.
CAS said the ROC could still nominate athletes to compete as neutrals. However, there appears to be little time for athletes to comply with the criteria.
Russia was suspended from track and field events by the IAAF in November 2015 following the publication of an independent World Anti-Doping Agency (WADA) report that showed a culture of widespread, state-sponsored doping.
Russian sports minister Vitaly Mutko apologized for Russia’s failure to catch the cheats but stopped short of admitting the scandal had been state-sponsored.
However, another WADA-commissioned report delivered earlier this week – the McLaren report – contained more damaging allegations and suggested senior figures in Russia’s sports ministry were complicit in an organized cover-up.
The report implicated the majority of Olympic sports in the cover-up and claimed that Russian secret service agents were involved in swapping positive urine samples for clean ones.
Following July 18 publication of the McLaren report, the IOC faced calls to ban all Russian competitors from the 2016 Olympics and will hold an second emergency meeting on July 24 to decide its course of action.
The Russian authorities have already suggested that they will look at ways to continue legal action.
Following the ruling, sports minister Vitaly Mutko said CAS had set “a certain precedent” by punishing a collective group for doping offences by individuals.
Kremlin spokesman Dmitry Peskov said: “The principle of collective responsibility cannot be acceptable. The news is not very good.”
Herbalife has reached a deal with the Federal Trade Commission (FTC) to avoid being labeled a pyramid scheme.
The dietary supplement company agreed to pay $200 million to settle the accusations.
The FTC had been investigating whether Herbalife misled customers about the potential value of reselling its products.
The deal was a blow to activist investor Bill Ackman who was betting against the company.
Herbalife shares climbed over 18% at one point.
Bill Ackman made several public allegations that Herbalife was a “bad” company that relied on a hierarchical structure that focused on recruiting new salespeople rather than selling products.
The FTC investigation also focused on this structure. Herbalife uses a direct sales method where products are bought by distributors to sell to the public and who are also encouraged to bring in new recruits.
The FTC settlement requires Herbalife to reorganize its compensation system to reward retail sales more than recruitment.
The regulator said, only a small proportion of Herbalife distributors earned anything near the amount the company promised.
FTC chairwoman Edith Ramirez said in a statement: “Herbalife is going to have to start operating legitimately, making only truthful claims about how much money its members are likely to make.”
Herbalife marketing material advertised that part-time sellers of its nutritional products would earn between $500 to $1,500 a month. Many distributors, in fact, lost money.
On July 15, Herbalife also announced it was changing its internal governance to allow investor Carl Icahn to own a larger stake in the company.
Carl Icahn will now be able to own 35% of Herbalife shares.
In a statement, Carl Icahan praised Herbalife’s management for the way it handled the investigation. He also said the company should move on and look at possibly acquiring some competitors.
“Now that the company has reached a settlement with the FTC, it is time to consider a range of strategic opportunities, including potential roll-ups involving competitors, as well as other strategic transactions,” he said.
Carl Icahan’s support of Herbalife led to a dispute with Bill Ackman.
Bill Ackman has been “shorting” the company – a strategy where an investor borrows stock and sells it hoping to buy it back at a lower price before the date of return.
The two exchanged insults during an interview calling each other a “liar” and a “cry-baby”.
If you have watched any reality television shows about house hunting, or have paid attention to real estate stories that are online, there are always people who buy a house and then end up with a nightmare. Just because a home looks like it is one of the best and most picturesque listings you have ever seen, you still need to be cautious of what it really is. Any given home could be hiding a significant number of problems just out of sight, so you need to be certain to keep the following points in mind before you purchase a new house, even if it does look like it is the house of your dreams.
Have an Appraisal Done
As Yahoo News states, the cost of a home appraisal is not that expensive, but you need to have it done. On the basis of a market valuation you might be willing to pay a certain amount of money for a home, but you also need to be aware of just how much money it actually is worth. And, while you might also be worried that you will lose the house if you make it conditional on an appraisal, then you have to remember oftentimes the banks will want some sort of appraisal done anyways to ensure that they won’t actually be giving you more money than the building is worth.
The reason an appraisal is also such a good thing is because an appraisal will take into consideration everything from the comparable values or the market to also understand what your finances will be. As the appraiser looks at the house they may also even take into consideration some of the current values of the home itself, and might be mindful enough to tell you when certain aspects of the home might need to be replaced, updated, or repaired in order to get full value. The unit appraisal is a great benefit because it means you know the true value, and as you deal with the bank it also means you know exactly what numbers you are working with when it comes time to make an offer, obtain financing, or close on the house.
The most important thing you have to do when it comes time to find a townhouse for sale with DDProperty is that you specify the areas you are comfortable with and know what type of environment you will actually be in. While every area is going to have their own benefits and their own problems, you just can’t afford to live in a spot where you know the hassle is too much. What if the crime is too high, the traffic and noise are too dense and loud, or even the schools aren’t that great? When you are looking for the next place to call your home and you have to understand exactly what you are getting yourself into, the one of the best things to do is find out about the area.
If you are unaware of the general area, you could always continue to seek out advice by asking your realtor. After all, they should be comfortable enough with a given location to tell you what you need to know. On the other hand, you might want to be sure you are getting the up to date information straight from the source and in that case you could always just speak with the neighbors of a potential home and see what they have to say. Take all information with a grain of salt just in case they are overly happy or unsatisfied with the area, but where there is smoke there is fire and you should also be able to spot trends if multiple people have the same opinions about an area. The last thing you want to do is to move into an area where you have things surprise you, after all.
Know Your Upfront Costs
While costs can absolutely change depending upon the location, the realtors, the type of loan and even the type of property, if you are looking to buy a home then you need to know the cost of the closing itself is expensive but everything leading up to it will absolutely nickel and dime you as well. The fees and taxes that are already mandated for the services you are expecting can be enough of a hit on your wallet or your purse, but when you start to think about the specifics of what else is going to start costing you then you have to know what you will be on the hook to pay.
According to Fox News, the other things you should be expecting to pay when you are looking to buy are the add-ons that most people know they pay but don’t realize how quickly they add up. Homeowners insurance is one, and PMI can be another. You don’t even know you need to pay them until you recall how expensive they actually become. Throw in the costs of maintenance for cleaning supplies and something like a lawnmower and your expected costs are through the roof.
Deciding on a house that you fall in love with will be exciting enough for anyone to want to rush through. Once you have found the unit of your dreams then why do you want to wait for anything else like specifics, fine print, or even paperwork? However, if you aren’t comfortable with the idea of making sure you know exactly what you are getting into, then perhaps home ownership isn’t for you yet.
Serena Williams beat Angelique Kerber to win a seventh Wimbledon and 22nd Grand Slam title.
The world No 1 coped with a gusty wind on Centre Court to win 7-5 6-3 and equal Steffi Graf’s Open era record of major titles.
Angelique Kerber, 28, had beaten Serena Williams in the Australian Open final in January but could not produce another shock.
Serena Williams ends a losing run at Slams stretching back to Wimbledon in 2015.
Fourteen years since she first won Wimbledon, Serena Williams claimed the title for a seventh time after dropping just one set all tournament.
Serena Williams moves alongside German great Steffi Graf in the all-time list of Grand Slam singles champions, and just two behind overall leader Margaret Court, the Australian who won 13 of her 24 major titles before tennis turned professional in 1968.
Angelique Kerber was the outsider but buoyed by her win over Serena Williams in Melbourne, and the swirling wind added another element of uncertainty to the final.
The first death potentially caused by self-driving technology is now being investigated by the National Highway Traffic Safety Administration (NHTSA).
The driver of a Tesla car died in Florida in May after colliding with a truck.
Under scrutiny is Tesla’s Autopilot feature, which automatically changes lanes and reacts to traffic.
In a statement, Tesla said it appeared the Model S car was unable to recognize “the white side of the tractor trailer against a brightly lit sky” that had driven across the car’s path.
Tesla said the crash was a “tragic loss”.
The collision led to the death of Tesla driver Joshua Brown, 40. The driver of the truck, which was pulling a trailer, was unhurt.
A video on YouTube, which appears to have been posted by Joshua Brown, shows a dashboard camera recording of a previous incident, with the car steering to avoid a truck in the next lane.
He wrote: “Tesla Model S autopilot saved the car autonomously from a side collision from a boom lift truck.
“Hands down the best car I have ever owned and use it to its full extent. It has done many, many amazing things, but this was one of the more interesting things caught on the dashcam.”
On June 30, Tesla stressed that cars being controlled by Autopilot had travelled 130 million safe miles to date.
Tesla said in a statement: “The high ride height of the trailer combined with its positioning across the road and the extremely rare circumstances of the impact caused the Model S to pass under the trailer, with the bottom of the trailer impacting the windshield of the Model S.”
“Had the Model S impacted the front or rear of the trailer, even at high speed, its advanced crash safety system would likely have prevented serious injury as it has in numerous other similar incidents.”
The NHTSA will look at whether the Autopilot function performed as expected, or was at fault.
Such investigations can sometimes lead to a recall. Should that be the case, it is likely Tesla would put out an “over-the-air” update to its cars, rather than having to physically take the vehicles back.
However, the incident could be a serious blow to the reputation of autonomous technology at a time when regulators across the world are considering how to safely introduce it on public roads.
Tesla’s shares dropped by 3% after the government said it would investigate the crash.
The Autopilot function was introduced by Tesla in October 2016. In a conference call, the company’s enigmatic chief executive Elon Musk urged caution in using the technology.
“The driver cannot abdicate responsibility,” he said.
In June 30 statement, Tesla said: “It is important to note that Tesla disables Autopilot by default and requires explicit acknowledgement that the system is new technology and still in a public beta phase before it can be enabled.
“The system also makes frequent checks to ensure that the driver’s hands remain on the wheel and provides visual and audible alerts if hands-on is not detected.
“It then gradually slows down the car until hands-on is detected again.”
In its statement, the NHTSA stressed: “The opening of the Preliminary Evaluation should not be construed as a finding that the Office of Defects Investigation believes there is either a presence or absence of a defect in the subject vehicles.”
Volkswagen has reportedly reached a $15 billion settlement with US car owners after admitting it cheated emission tests.
The German auto maker would offer to repair or buy back the affected diesel vehicles and pay owners compensation, according to sources close to the talks.
In 2015, US regulators discovered that VW cars were fitted with software that could distort emissions tests.
VW subsequently said 11 million cars were affected worldwide.
The US settlement is still pending approval by a judge, but it would be the largest car scandal settlement in the country’s history. The details are expected to be announced on June 28.
According to news agencies, the legal settlement sets aside $10 billion to repair or buy back around 475,000 affected vehicles with 2-litre diesel engines, and to compensate owners with a payment of up to $10,000.
Car owners would still be able to decline the VW offer and sue the company on their own.
According to the sources quoted by news agencies, the deal also includes $2.7 billion in funds to offset excess diesel emissions and $2 billion for research into green energy and environment-friendly cars.
VW installed software in diesel engines to detect when they were being tested so the cars could cheat the results.
Some models could have been pumping out up to 40 times the legal limit of the pollutant, nitrogen oxide, regulators disclosed.
The company told its shareholders last year it had set aside $7.3 billion to help defray the potential costs of a recall or regulatory penalties.
That amount though might not be enough – VW faces as much as $20 billion in fines for Clean Air Act violations alone.
The increased emissions provision pushed VW to an annual pre-tax loss of €1.3 billion, compared with a profit of €14.7 billion the previous year.
Getting the most from an ERP system requires two areas of focus: picking the right ERP provider and implementing their services properly (carefully). Neglecting one in favor of the other will limit the impact your ERP has on your organization and expose you to risks and vulnerabilities you wished you avoided.
In this article will focus on the second part of the process, implementing an ERP system. Follow these steps to speed up the process while ensuring the best possible outcomes:
Consider Specialized Support – An ERP implementation can be a long and complex process. If you have a limited in-house tech team or have never undergone a major revision to your IT, you might find the implementation process overwhelming. Consider working with a provider of ERP implementation services from the start. They will evaluate the needs of your business, align those with the capability of your system, and then execute the implementation carefully and systematically. You incur an extra cost but sidestep major pitfalls as a result.
Prepare Your Team for Change – The reason you’re implementing an ERP system is because you want to fundamentally change the way you do things. Once the system is in place, everyone on your team is able to operate more collaboratively, transparently, and innovatively. It’s important to educate your team in advance about the capabilities of the ERP, your motives for implementing it, and your expectations for how it will be used. This kind of open, direct approach helps to get everyone feeling excited rather than resistant about the change.
Get Your Data Ready – Quality ERP systems will flexibly and fluidly adapt to many different kind of data. It’s important to understand, however, that their adaptability is not universal, and that not all your data will be appropriate to enter into ERP databases. Start by making sure that any data you want to integrate is stored in acceptable file formats. Then scour that data for items you may want to exclude like information about old, inactive customers or information that doesn’t need to be shared company wide.
Plan for Change – ERP implementations, like most major IT initiatives, rarely go exactly as planned. Before you actually start implementing the system, identify your major needs and primary end goals. Once the implementation goes into effect, you can amend or revise the process as necessary without compromising the core purpose for the project.
Test Early, Often and Extensively – Given the depth and breadth of an ERP system, it’s easy for problems both major and minor to hide out of plain sight. Throughout every step in the implementation process, invest the time, labor, and resources necessary to test thoroughly for problems with the system, data, or user engagement strategy. The earlier you resolve them the better.
Prioritize Training – The best way to train your team on how to use the new ERP system is hands on, in person. Since this is a resource you want your staff to use extensively on a daily basis, don’t try to rush or abridge the training process. Ideally, they will feel completely comfortable using the system to the fullest starting on day one. Make sure your IT team is also trained in how to monitor, maintain, and troubleshoot the system.
Ensure Ongoing Support – The process doesn’t end after the system goes live. There will almost inevitably be problems that you overlooked, and keeping the system optimized and up to date will now become a priority. It helps to survey your employees to identify possible sources of friction and to identify areas for improvement. You may also need to add staff or resources to your in-house tech team to handle the additional demands for support.
Finally, be sure to track the impact your system has on your business. Look at productivity and efficiency metrics to get a clear understanding of your organization pre and post ERP. If you’ve handled the implementation effectively, your company is in an ideal position to overtake the competition, win new customers, and bolster your brand.
Thousands of fans are attending a farewell procession for Muhammad Ali in his home city of Louisville, Kentucky.
Onlookers lining the roadside waved, took photos and chanted “Ali, Ali” as a cortege led by the hearse carrying his coffin drove through the downtown area.
The boxing legend and rights activist died on June 3 at the age of 74.
The cortege is taking Muhammad Ali’s body past key sites in his life, ahead of an interfaith memorial service.
Will Smith and ex-boxer Lennox Lewis will be among the pallbearers, while former President Bill Clinton will deliver one of the eulogies.
Thousands of free tickets for the memorial service, taking place at a major sports centre, were snapped up within half an hour.
The motorcade procession began at about 10:35 local time, more than an hour behind schedule, and is taking the coffin past his childhood home, the Ali Center, the Center for African American Heritage and then down Muhammad Ali Boulevard.
Fans threw flowers at the hearse and rose petals were scattered along the route.
The procession, expected to take about 90 minutes, will end at the Cave Hill Cemetery where Muhammad Ali will be laid to rest in a private ceremony.
The funeral service at the KFC Yum! Center is due to begin at 14:00 local time.
Billy Crystal will also deliver a eulogy, while sports journalist Bryant Gumbel, the daughter of civil rights activist Malcolm X, Attallah Shabazz, and Muhammad Ali’s wife, Lonnie, and daughters, Maryum and Rasheda, are also expected to speak.
Among those expected to attend the service is King Abdullah of Jordan.
Turkish President Recep Tayyip Erdogan attended June 9 prayer ceremony and had been due at the service, but reports say he has cut short his visit to the US.
The reasons for his departure are not clear, though there are reports of differences with the funeral’s organizers.
President Barack Obama will not be there, as he is to attend his eldest daughter Malia’s graduation.
In a video message, Barack Obama said: “This week we lost an icon. A person who for African Americans, I think, liberated their minds in recognizing that they could be proud of who they were.”
Muhammad Ali’s family and fans are attending a Muslim prayer service to honor the boxing legend in his hometown of Louisville, Kentucky.
The two-day funeral was planned by Muhammad Ali in the years before his death, according to a family spokesman.
Muhammad Ali, “The Greatest”, wanted the Muslim prayer service, known as a Jenazah, to be “a teaching moment”, according to Imam Zaid Shakir, who is leading the service.
The legendary boxer died on June 3 at the age of 74.
More than 14,000 people have tickets to the event at the site of Muhammad Ali’s last fight in Louisville in 1961.
Boxing legend Muhammad Ali has been taken to hospital after falling unconscious at home just days after his frail appearance at a funeral for Joe Frazier
American Muslims attending the service and watching on TV say they hope that the public prayers will help Americans to become more familiar with Islam and its practices.
In 1964, Muhammad Ali famously converted to Islam, changing his name from Cassius Clay, which he called his “slave name”.
He first joined the Nation of Islam, a controversial black separatist movement, before later converting to mainstream Islam.
Muhammad Ali traveled the world as a boxer and speaker, and inspired Muslims around the world.
The funeral will continue on June 10 with an interfaith memorial service and procession through Louisville passing key locations such as Muhammad Ali’s childhood home, and a museum dedicated to him.
Tickets to attend the June 10 service sold out only an hour after they went on sale.
World leaders and celebrities will attend, including former President Bill Clinton and Turkish President Recep Tayyip Erdogan. President Barack Obama will not be able to attend due to his eldest daughter’s graduation on the same day.
The International Tennis Federation (ITF) has banned Maria Sharapova for two years for using prohibited drug meldonium.
Maria Sharapova was provisionally banned in March after testing positive for meldonium at January’s Australian Open.
Meldonium, a heart disease drug, which 29-year-old Russian says she has been taking since 2006 for health issues, became a banned substance on January 1, 2016.
The five-time Grand Slam winner said she “cannot accept” the “unfairly harsh” ban – and will appeal.
Photo Getty Images
Maria Sharapova will challenge the suspension, which is backdated to January 26, 2016, at the Court of Arbitration for Sport (CAS).
In a statement, Maria Sharapova said the tribunal concluded her offence was “unintentional” and that she had not tried to use a “performance-enhancing substance”.
However, she claimed the ITF had asked the tribunal to impose a four-year ban, adding it “spent tremendous amounts of time and resources trying to prove I intentionally violated the anti-doping rules”.
The tribunal ruling said Maria Sharapova tested positive for meldonium in an out-of competition test on February 2, as well as in the aftermath of her Australian Open quarter-final defeat by Serena Williams on January 26. It treated both results as a single anti-doping violation.
The ITF will not appeal against the tribunal’s decision.
Nike, which suspended its relationship with Maria Sharapova in January, said it would “continue to partner” the Russian, based on the tribunal’s findings.
Maria Sharapova was Forbes‘ highest-paid female athlete for 11 consecutive years, until Serena Williams moved above her in 2016.
The World Anti-Doping Agency (WADA) said in April that scientists were unsure how long meldonium stayed in the system, and suggested athletes who tested positive before March 1 could avoid bans, provided they had stopped taking it before January 1.
Maria Sharapova had already admitted she continued taking the substance past that date, saying she was unaware it had been added to the banned list as she knew it by another name – mildronate.
In reaching its verdict, the ITF recognized Maria Sharapova had not intentionally broken anti-doping rules, as she did not know that mildronate contained a banned substance from January 2016.
If you’re lucky enough to have a motorcycle, you’re probably riding it around constantly, enjoying its economic and convenient value to the fullest. However, like all vehicles you have to park it on the street. This can be problematic depending on your area’s busyness and crime.
Accidents can and will happen, even when your prized motorcycle is stationary and out of the way. So what happens if your bike gets hit by another car while parked?
Let’s take a look below.
Do You Know Who Did It?
If you didn’t actually see someone strike your bike, then they are being a good Samaritan by telling you, or a good Samaritan happened to be in the right place to capture the hit-and-run driver’s info. While people shouldn’t strive to be hit and run drivers, according to USA Today, it happens more often than any insurance company or motorcycle owner is willing to admit. Assuming that either you saw it or someone saw it and let you know (a witness), you have the ability to make them pay for it. Any specifics like vehicle type and color, and ideally, a license plate number will be your best bet in getting the at-fault party to pay for damages.
What is the State Law?
If another driver is able to claim that your bike was parked too far out in the street, or if they can say that both parties were equally negligent (say your kickstand wasn’t secure or you were parked on a hill), then you have to be careful. According to the Insurance Information Institute, insurance liability differs from state to state, and if you are even partially negligent or you happen to reside in a no-fault state, then under certain accidents and claims you might not be able to have the other driver pay (or pay fully) for their damages.
It’s important to know your state’s law, and also what you’re covered for when you actually obtain quotes. Your policy can always step in but you will need to compare motorcycle insurance quotes from a handful of different providers to truly know what you’re getting coverage-wise.
Can You Prove It?
As terrible and pessimistic as it is to say, can you prove that someone actually knocked over your bike? You obviously have the best of intentions, but what if someone made a claim against you that had no backing? Would you really want to be liable for any claim or remark that someone made about you even if they didn’t have any proof? The road goes both ways in this scenario in that if you can’t prove someone else hit your bike and knocked it over, then you may have a hard time getting their policy to pay.
You’ll obviously want to sort things out as quickly as possible if your bike is hit while parked, but rest assured you’ll be covered with a comprehensive package. Comprehensive coverage for motorcycles is the same as if a car was damaged during a hit and run; someone else is at fault, so they should pay. If fault cannot be determined (or you can’t prove it), then you’ll still be covered from a comprehensive point of view.
The only thing that you’ll be on the hook for in a worst-case scenario is your deductible, and you might even be able to get that back if you can prove fault is on the other party.
While you might get upset with the legal system of some states, and possibly even lose faith in other motorists on the road, you can at least be at ease when it comes to the protection and maintenance of your motorcycle. As long as you have quality coverage then you know you’ll be covered in any incident. Paying anything, even a few hundred dollars toward your deductible in an incident you didn’t cause, is annoying, but it’s small change compared to not having adequate coverage and having to pay big dollars should the hit-and-run driver get away scot-free.
Muhammad Ali died of “septic shock due to unspecified natural causes”, his family has announced.
The boxing legend, formerly known as Cassius Clay, died on June 3 at a hospital in Phoenix, Arizona. He was 74.
Muhammad Ali had been suffering from a respiratory illness, a condition that was complicated by Parkinson’s disease.
A public funeral will be held for the boxer on June 9 in his hometown of Louisville in Kentucky.
Boxing legend Muhammad Ali has been taken to hospital after falling unconscious at home just days after his frail appearance at a funeral for Joe Frazier
The family spokesman, Bob Gunnell said: “He was a citizen of the world and would want people from all walks of life to be able to attend his funeral.”
Former President Bill Clinton is among those who will give a eulogy at the service, and was one of many prominent global figures who paid tribute to Ali on June 4, saying he lived a life “full of religious and political convictions that led him to make tough choices and live with the consequences”.
The legendary Brazilian footballer, Pele, said the sporting universe had suffered a huge loss.
President Barack Obama said: “Muhammad Ali shook up the world. And the world is better for it.”
Soon after retiring, rumors began to circulate about the state of Muhammad Ali’s health. His speech had become slurred, he shuffled and he was often drowsy.
Parkinson’s syndrome was eventually diagnosed but Muhammad Ali continued to make public appearances, receiving warm welcomes wherever he traveled.
One of the world’s best-known sportsmen, boxing legend Muhammad Ali, has died at the age of 74, a family spokesman has confirmed.
The former world heavyweight boxing champion died at a hospital in Phoenix, Arizona, after being admitted on June 2.
Muhammad Ali was suffering from a respiratory illness, a condition that was complicated by Parkinson’s disease.
The funeral will take place in his hometown of Louisville, Kentucky, his family said in a statement.
Born Cassius Marcellus Clay, Muhammad Ali shot to fame by winning light-heavyweight gold at the 1960 Rome Olympics.
Nicknamed “The Greatest”, he beat Sonny Liston in 1964 to win his first world title and became the first boxer to capture a world heavyweight title on three separate occasions.
Muhammad Ali eventually retired in 1981, having won 56 of his 61 fights.
Crowned “Sportsman of the Century” by Sports Illustrated, Muhammad Ali was noted for his pre- and post-fight talk and bold fight predictions just as much as his boxing skills inside the ring.
He was also a civil rights campaigner and poet who transcended the bounds of sport, race and nationality.
Asked how he would like to be remembered, Muhammad Ali once said: “As a man who never sold out his people. But if that’s too much, then just a good boxer. I won’t even mind if you don’t mention how pretty I was.”
Muhammad Ali turned professional immediately after the Rome Olympics and rose through the heavyweight ranks, delighting crowds with his showboating, shuffling feet and lightning reflexes.
British champion Henry Cooper came close to stopping Cassius Clay, as he was still known, when they met in a non-title bout in London in 1963.
Henry Cooper floored Cassius Clay with a left hook, but Clay picked himself up off the canvas and won the fight in the next round when a severe cut around Cooper’s left eye forced the Englishman to retire.
In February 1964, Cassius Clay stunned the boxing world by winning his first world heavyweight title at the age of 22.
He predicted he would beat Sonny Liston, who had never lost, but few believed he could do it.
Yet, after six stunning rounds, Sonny Liston quit on his stool, unable to cope with his brash, young opponent.
At the time of his first fight with Sonny Liston, Cassius Clay was already involved with the Nation of Islam, a religious movement whose stated goals were to improve the spiritual, mental, social, and economic condition of African Americans in the US.
In contrast to the inclusive approach favored by civil rights leaders like Dr. Martin Luther King, the Nation of Islam called for separate black development and was treated by suspicion by the American public.
Muhammad Ali eventually converted to Islam, ditching what he perceived was his “slave name” and becoming Cassius X and then Muhammad Ali.
In 1967, Muhammad Ali took the momentous decision of opposing the US war in Vietnam, a move that was widely criticized by his fellow Americans.
Muhammad Ali refused to be drafted into the US military and was subsequently stripped of his world title and boxing license. He would not fight again for nearly four years.
After his conviction for refusing the draft was overturned in 1971, Muhammad Ali returned to the ring and fought in three of the most iconic contests in boxing history, helping restore his reputation with the public.
Muhammad Ali was handed his first professional defeat by Joe Frazier in the “Fight of the Century” in New York on March 8, 1971, only to regain his title with an eighth-round knockout of George Foreman in the “Rumble in the Jungle” in Kinshasa, Zaire (now Democratic Republic of Congo) on October 30, 1974.
He fought Joe Frazier for a third and final time in the Philippines on October 1, 1975, coming out on top in the “Thrilla in Manila” when Frazier failed to emerge for the 15th and final round.
Six defenses of his title followed before Muhammad Ali lost on points to Leon Spinks in February 1978, although he regained the world title by the end of the year, avenging his defeat at the hands of the 1976 Olympic light-heavyweight champion.
Muhammad Ali’s career ended with one-sided defeats by Larry Holmes in 1980 and Trevor Berbick in 1981, many thinking he should have retired long before.
He fought a total of 61 times as a professional, losing five times and winning 37 bouts by knockout.
Soon after retiring, rumors began to circulate about the state of Muhammad Ali’s health. His speech had become slurred, he shuffled and he was often drowsy.
Parkinson’s Syndrome was eventually diagnosed but Muhammad Ali continued to make public appearances, receiving warm welcomes wherever he travelled.
Muhammad Ali lit the Olympic cauldron at the 1996 Games in Atlanta and carried the Olympic flag at the opening ceremony for the 2012 Games in London.
Soccer star Lionel Messi is due to give evidence in a Spanish court on tax fraud charges.
The Argentina and Barcelona professional player and his father Jorge Messi, who manages his financial affairs, are accused of defrauding Spain of more than €4 million ($4.5 million) between 2007 and 2009.
Spain’s authorities allege that the two used tax havens in Belize and Uruguay to conceal earnings from image rights.
The tax agency is demanding heavy fines and prison sentences. Both men deny any wrongdoing.
Lionel Messi is to face trial for alleged tax evasion
The trial began on June 1, and June 3 is expected to be the final day. A verdict is not expected until next week.
Evidence is being considered regarding income related to Lionel Messi’s image rights, including contracts with Banco Sabadell, Danone, Adidas, Pepsi-Cola, Procter and Gamble, and the Kuwait Food Company.
Lionel Messi’s lawyers had argued that the player had “never devoted a minute of his life to reading, studying or analyzing” the contracts.
However, the high court in Barcelona ruled in June 2015 that the football star should not be granted immunity for not knowing what was happening with his finances, which were being managed in part by his father.
Lionel Messi and his father made a voluntary €5 million ($5.6 million) “corrective payment” – equal to the alleged unpaid tax plus interest – in August 2013.
Donald Trump has reacted angrily after the PGA Tour golf tournament was moved from one of his courses to Mexico.
The PGA Tour said it could not find sponsors to hold the 2017 World Golf Championship at Donald Trump’s Doral course in Miami.
The presumptive Republican nominee said the PGA had “put profit ahead of thousands of American jobs”.
On the campaign trail, Donald Trump has portrayed Mexico as undermining the US economy.
PGA Tour commissioner Timothy Finchem said Donald Trump’s current profile had made it “difficult” to attract sponsors.
He said: “It’s fundamentally a sponsorship issue.”
Photo Getty Images
Luxury car maker Cadillac has reportedly not renewed its sponsorship deal.
“Donald Trump is a brand, a big brand, and when you’re asking a company to invest millions of dollars in branding a tournament and they’re going to share that brand with the host, it’s a difficult decision,” Timothy Finchem said.
However, he insisted the decision to move the event to Mexico City from Florida, where it has been held for the past 55 years, was not political.
“From a golf standpoint we have no issues with Donald Trump. From a political standpoint we are neutral. PGA Tour has never been involved or cares to be involved in presidential politics,” Timothy Finchem added.
The PGA Tour has signed a new seven-year sponsorship deal with Grupo Salinas, and the first WGC-Mexico Championship will held in March 2017.
Donald Trump said the decision marked a “sad day for Miami, the US and the game of golf”.
“This decision only further embodies the very reason I am running for president of the United States,” he said.
The venue for the event has not been officially confirmed, but media reports say it will take place at the Club de Golf Chapultapec outside Mexico City.
“I hope they have kidnapping insurance,” Donald Trump told Fox News.
Timothy Finchem said that a member of his staff had already confirmed that this was in place.
“I haven’t inquired about the detail,” he said.
“But I made the point that maybe that’s something we don’t want to advertise.”
Gotthard base tunnel, the world’s longest and deepest rail tunnel, has officially opened in Switzerland, after almost twenty years of construction work.
The 35-mile (57km) twin-bore tunnel will provide a high-speed rail link under the Swiss Alps between northern and southern Europe.
Switzerland says it will revolutionize European freight transport.
Goods currently carried on the route by a million trucks a year will go by train instead.
Gotthard base tunnel has overtaken Japan’s 53.9km Seikan rail tunnel as the longest in the world and pushed the 50.5km Channel Tunnel linking the UK and France into third place.
In a speech to guests in Erstfeld, near the northern entrance to the tunnel, Swiss Federal President Johann Schneider-Ammann said it was a “giant step for Switzerland but equally for our neighbors and the rest of the continent”.
A live relay carried a speech from the southern end of the tunnel, in Bodio, by the Swiss federal transport minister, Doris Leuthard.
Afterwards two trains set off in opposite directions through the tunnel, each carrying hundreds of guests who had won tickets in a draw, and the new route was formally open.
A lavish show then got under way for the assembled guests in Erstfeld, with dancers, acrobats, singers and musicians celebrating Alpine culture and history.
The sacrifices of the tunnel miners, nine of whom died during the work, were also commemorated in the spectacle.
German Chancellor Angela Merkel, French President Francois Hollande, Italy’s PM Matteo Renzi, Austrian Chancellor Christian Kern and other European leaders are to attend the day’s events, along with European Commission chief Jean-Claude Juncker.
Europe’s goods had to cross the Alps and now they will able to do so more quickly, more safely, and more cheaply.
The project, which cost more than $12 billion to build, was endorsed by Swiss voters in a referendum in 1992. Voters then backed a proposal from environmental groups to move all freight travelling through Switzerland from road to rail two years later.
The completed tunnel travels up to 2.3 km below the surface of the mountains above and through rock that reaches temperatures of 46C.
Engineers had to dig and blast through 73 different kinds of rock, some as hard as granite and others as soft as sugar. More than 28 million tons of rock was excavated.
Now the completed tunnel – delivered on time and within budget – will create a mainline rail connection between Rotterdam in the Netherlands and Genoa in Italy.
When full services begin in December, the journey time for travelers between Zurich and Milan will be reduced by an hour to two hours and 40 minutes.
The tunnel’s trajectory will be flat and straight instead of winding up through the mountains like the old rail tunnel and a road tunnel opened in 1980.
About 260 freight trains and 65 passenger trains will pass through the tunnel each day in a journey taking as little as 17 minutes.
The tunnel is being financed by value-added and fuel taxes, road charges on heavy vehicles and state loans that are due to be repaid within a decade.
Swiss bank Credit Suisse has said its economic benefits will include the easier movement of goods and increased tourism.
Volkswagen profit fell 20% in Q1 of 2016 as the auto maker continues to grapple with fallout from the diesel emissions scandal.
Pre-tax profit fell to €3.2 billion in Q1 of 2016, down from €3.97 billion in the same period a year ago.
VW CEO Matthias Muller said he was “satisfied” with the start of “what will undoubtedly be a demanding” 2016.
The German giant admitted last year that it installed software to cheat US emissions tests.
VW has already set aside more than €16 billion to pay for costs arising from the scandal.
The company has agreed a deal with the DoJ in which it will buy back and “substantially” compensate more than 500,000 American owners of its diesel cars affected by the emissions cheating. Final details are expected in June.
“In the first quarter, we once again managed to limit the economic effects of the diesel issue and achieve respectable results under difficult conditions,” Matthias Muller added.
VW Group sales revenue fell 3.4% to €51 billion in the period.
Sales of VW-branded cars were particularly hard hit, with profit from that part of the business falling 83% to €73 million from €514in 2015.
VW maintained its forecast of a 5% fall in 2016 sales revenue compared with last year, “depending on economic conditions – particularly in South America and Russia – and exchange rate developments as well as against the backdrop of the diesel issue”.
However, the company predicted “a marked decrease in sales revenue” in 2016 for its passenger car brands, which include Audi, Seat and Skoda.
Matthias Muller said: “2016 will be a transitional year for Volkswagen… we remain confident that our operating business will again record solid growth this year.”
After publishing the profit report, VW shares fell 3% in Frankfurt to €133.57 and are down 40% over the past 12 months.