Russia bans fake news, criminalises 'disrespect' of state

Houston, Jun 10: George Floyd was fondly remembered Tuesday as “Big Floyd” — a father and brother, athlete and neighborhood mentor, and now a catalyst for change — at a funeral for the black man whose death has sparked a global reckoning over police brutality and racial prejudice.

More than 500 mourners wearing masks against the coronavirus packed a Houston church a little more than two weeks after Floyd was pinned to the pavement by a white Minneapolis police officer who put a knee on his neck for what prosecutors said was 8 minutes and 46 seconds.

Cellphone video of the encounter, including Floyd’s pleas of “I can’t breathe,” ignited protests and scattered violence across the U.S. and around the world, turning the 46-year-old Floyd — a man who in life was little known beyond the public housing project where he was raised in Houston’s Third Ward — into a worldwide symbol of injustice.

“Third Ward, Cuney Homes, that’s where he was born at,” Floyd’s brother, Rodney, told mourners at the Fountain of Praise church. “But everybody is going to remember him around the world. He is going to change the world.”

The funeral capped six days of mourning for Floyd in three cities: Raeford, North Carolina, near where he was born; Houston, where he grew up; and Minneapolis, where he died. The memorials have drawn the families of other black victims whose names have become familiar in the debate over race and justice — among them, Eric Garner, Michael Brown, Ahmaud Arbery and Trayvon Martin.

After the service, Floyd’s golden casket was taken by hearse to the cemetery in the Houston suburb of Pearland to be entombed next to his mother, for whom he cried out as he lay dying. A mile from the graveyard, the casket was transferred to a glass-sided carriage drawn by a pair of white horses. A brass band played as his casket was taken inside the mausoleum.

Hundreds of people, some chanting, “Say his name, George Floyd,” gathered along the procession route and outside the cemetery entrance in the mid-90s heat.

“I don’t want to see any black man, any man, but most definitely not a black man sitting on the ground in the hands of bad police,” said Marcus Brooks, 47, who set up a tent with other graduates of Jack Yates High School, Floyd’s alma mater.

In the past two weeks, amid the furor over Floyd’s death, sweeping and previously unthinkable things have taken place: Confederate statues have been toppled, and many cities are debating overhauling, dismantling or cutting funding for police departments. Authorities in some places have barred police from using chokeholds or are otherwise rethinking policies on the use of force.

Dozens of Floyd’s family members, most dressed in white, took part in the four-hour service. Grammy-winning singer Ne-Yo was among those who sang.

The mourners included actors Jamie Foxx and Channing Tatum, J.J. Watt of the NFL’s Houston Texans, rapper Trae tha Truth, Rep. Sheila Jackson Lee, Houston Police Chief Art Acevedo and Houston Mayor Sylvester Turner, who brought the crowd to its feet when he announced he will sign an executive order banning chokeholds in the city.

“I know you have a lot of questions that no child should have to ask, questions that too many black children have had to ask for generations: Why? Why is Daddy gone?” former Vice President Joe Biden, the Democratic presidential candidate, said, addressing Floyd’s 6-year-old daughter in a video eulogy played at the service. “Now is the time for racial justice. That’s the answer we must give to our children when they ask why.”

Biden made no mention of his opponent in November. But other speakers took swipes at President Donald Trump, who has ignored demands to address racial bias and has called on authorities to crack down hard on lawlessness.

“The president talks about bringing in the military, but he did not say one word about 8 minutes and 46 seconds of police murder of George Floyd,” said the Rev. Al Sharpton, the civil rights activist. “He challenged China on human rights. But what about the human right of George Floyd?”

Most of the pews were full, with relatively little space between people.

“So much for social distancing today,” the Rev. Remus Wright told mourners, gently but firmly instructing those attending to wear face masks.

Texas has no limit on how many people can gather in places of worship during the pandemic, though Republican Gov. Greg Abbott has encouraged churches to follow federal health guidelines.

Although the church service was private, at least 50 people gathered outside to pay their respects.

“There’s a real big change going on, and everybody, especially black, right now should be a part of that,” said Kersey Biagase, who traveled more than three hours from Port Barre, Louisiana, with his girlfriend, Brandy Pickney. They wore T-shirts printed with Floyd’s name and “I Can’t Breathe.”

Floyd served nearly five years in prison for robbery with a deadly weapon before becoming a mentor and a church outreach volunteer in Houston. He moved to Minnesota several years ago through a program that tried to change men’s lives by helping them find work in new settings.

At the time of his death, Floyd was out of work as a bouncer at a Minneapolis club that had closed because of the coronavirus outbreak. He was seized by police after being accused of passing a counterfeit $20 bill at a convenience store.

Four Minneapolis officers were arrested in his death: Derek Chauvin, 44, was charged with second-degree murder. J. Alexander Kueng, Thomas Lane and Tou Thao were charged with aiding and abetting. All four could get up to 40 years in prison.

Some of the mostly peaceful demonstrations that erupted after Floyd’s death were marked by bursts of arson, assaults, vandalism and smash-and-grab raids on businesses, with more than 10,000 people arrested. But protests in recent days have been overwhelmingly peaceful.

Washington, Feb 19: US President Donald Trump has said he is "saving the big deal" with India for later and he "does not know" if it will be done before the presidential election in November, clearly indicating that a major bilateral trade deal during his visit to Delhi next week might not be on the cards.

"We can have a trade deal with India. But I'm really saving the big deal for later," he told reporters at Joint Base Andrews Tuesday afternoon (local time).

The US and India could sign a "trade package" during the visit, according to media reports.

Asked whether he expects a trade deal with India before the visit, Trump said, "We're doing a very big trade deal with India. We'll have it. I don't know if it'll be done before the election, but we'll have a very big deal with India."

US Trade Representative Robert Lighthizer, the point-person for trade negotiations with India, is likely to not accompany Trump to India, sources said. However, officials have not ruled it out altogether.

In an apparent dissatisfaction over US-India trade ties, Trump said, "We're not treated very well by India." But he praised Prime Minister Narendra Modi and said he is looking forward to his visit to India.

"I happen to like Prime Minister Modi a lot," Trump said.

"He told me we'll have seven million people between the airport and the event. And the stadium, I understand, is sort of semi under construction, but it's going to be the largest stadium in the world. So it's going to be very exciting... I hope you all enjoy it," he told reporters.

Meanwhile, the US-India Strategic and Partnership Forum (USISPF) in a report said the latest quarterly data depict continuation of overall positive bilateral trade trends. The third quarter data reflects some downslide in growth rates.

"It may be due to several reasons, including the unexpected economic slowdown in India's economic growth, impact of US-China trade war, GSP withdrawal from the US side and retaliatory tariffs on specific US goods from the Indian side," USISPF said.

According to the report, the data available for the first three quarters of 2019 (January-September) pulled the overall growth rate in cumulative bilateral trade down to 4.5 percent from 8.4 percent registered for the first two quarters.

Goods and services trade performance in third quarter was dismal at -2.3 percent, in contrast with the impressive 9.6 percent growth witnessed for the first two quarters of the year; while trade in services was up two percent goods trade dropped five percent, the report said.

The cumulative US-India trade in goods and services (USD 110.9 billion) for the first three quarters of 2019 increased 4.5 percent with US exports and imports growing at four percent and five percent respectively.

The US exported USD 45.3 billion worth of goods and services to India in the first three quarters 2019, up 4 percent from the corresponding period in the previous year; and the US imported USD 65.6 billion worth of goods and services from India, up five percent from the previous year's USD 62.5 billion level for the same period, it said.

The USISPF has projected that the total bilateral trade can touch USD 238 billion by 2025 if the current 7.5 percent average annual rate of growth sustains; however, higher growth rates can result in bilateral trade in the range of USD 283 billion and USD 327 billion.

The US remains the top trading partner for India in terms of trade in goods and services, followed by China. While the bilateral trade between US and India is approximately 62 percent in goods and 38 percent in services, the bilateral trade between India and China is dominated by goods.

China had a huge trade surplus of USD 58 billion with India, indicating Beijing's strength in the Indian market, especially in sectors, such as electronics, machinery, organic chemicals, plastics and medical devices.

The US goods exports to India, in comparison, were mainly concentrated in mineral fuels, precious stones, and aircraft. The US faces tough competition with China in the Indian market in areas such as electronics, machinery, organic chemicals and medical devices.

Washington, May 6: At a time when the coronavirus pandemic has squeezed them, multi-national companies in America are laying off workers while paying cash dividends to their shareholders. Thus making the workers bear the brunt of the sacrifices while the shareholders continue to collect.

The Washington Post said in one of its reports that five big American companies have paid a combined USD 700 million to shareholders while cutting jobs, closing plants and leaving thousands of their workers filing for unemployment benefits.

Since the pandemic was declared an emergency, Caterpillar has suspended operations at two plants and a foundry, Levi Strauss has closed stores, and toolmaker Stanley Black & Decker has been planning layoffs and furloughs.

Steelcase, an office furniture manufacturer, and World Wrestling Entertainment have also shed employees.

Executives of those companies told the Post that the layoffs support the long-term health of their companies, and often the executives are giving up a piece of their salaries. Furloughed workers can apply for unemployment benefits.

But distributing millions of dollars to shareholders while leaving many workers without a paycheck is unfair, critics argue, and belies the repeated statements from executives about their concern for employees' welfare during the coronavirus crisis.

Caterpillar, for example, announced a USD 500 million distribution to shareholders April 8, about two weeks after indicating that operations at some plants would stop. The company however declined to divulge how many workers are affected.

"We are taking a variety of actions globally, but we aren't going to discuss the number of impacted people," spokeswoman of the company, Kate Kenny, said in a reply to an email by the Post.

This spate of dividends is also likely to revive long-standing debates about economic rewards.

"There are no hard-and-fast rules about this," said Amy Borrus, deputy director of the Council of Institutional Investors, a group that argues for shareholder rights and represents pension funds and other long-term investors.

Many large US companies choose to issue a regular, quarterly dividend to shareholders, often increasing it, and they boast about these payments because they help keep the share price higher than it might otherwise be. Those companies might be reluctant to announce that they are cutting or suspending their dividend during a crisis, Borrus was further quoted as saying.

But "companies have to be mindful of the optics of paying dividends if they're laying off thousands of workers," she added.

On March 26, Caterpillar had announced that because of the pandemic, it was "temporarily suspending operations at certain facilities." Two plants, in East Peoria, Ill., and Lafayette, Ind., were coming to a halt, as well as a foundry in Mapleton, Ill., according to news reports.

"We are taking a variety of actions at our global facilities to reduce production due to weaker customer demand, potential supply constraints and the spread of the covid-19 pandemic and related government actions," Kenny said via email.

"These actions include temporary facility shutdowns, indefinite or temporary layoffs," she added.

Similarly, Levi Strauss announced April 7 that the company would stop paying store workers, and about 4,000 are now on furlough. On the same day, the company announced that it was returning USD 32 million to shareholders.

"As this human and economic tragedy unfolds globally over the coming months, we are taking swift and decisive action that will ensure we remain a winner in our industry," Chip Bergh, president and chief executive of the company, also told the Post.

Stanley Black & Decker announced on April 2 that it was planning furloughs and layoffs because of the pandemic. Two weeks later, it issued a dividend to shareholders of about USD 106 million.

The notion that a company's primary purpose is to serve shareholders gained prominence in the 1980s but has come under attack in recent years, even from business executives, the newspaper reported.

Corporate decisions to suspend dividends and buybacks are complex, however, and it is difficult to know whether these suspensions of dividend and buyback programs were motivated by a desire to conserve cash in anticipation of bad times, and how much they are prompted by a sense of obligation to employees.

Over recent decades, the mandate to "maximize shareholder value" has become orthodoxy, for many, and it is often unclear what motivates companies to pare dividends or buybacks for shareholders, said William Lazonick, an emeritus economics professor at the University of Massachusetts at Lowell, who has been one of the leading critics of companies that distribute cash to shareholders through stock buybacks and dividends rather than reinvesting the profits into employees, innovation and production.