LCPL hailed a massive success
The inaugural Limacol Caribbean Premier League (LCPL) has been hailed by organisers and players as a “massive success.”
The tournament ended on Saturday night in front of a full house at the Queen’s Park Oval in Port-of-Spain, Trinidad with the Jamaica Tallawahs crowned as the champions after beating the Guyana Amazon Warriors by seven wickets with 15 balls in hand.
It was the culmination of 24 matches over 26 days involving six franchise teams from across the region, with those matches played out at packed venues.
“We have exceeded every benchmark we set for the Limacol Caribbean Premier League when we embarked on this project,” said the Limacol CPL Chief Executive Damien O’Donohoe. “By every measure there is no doubt it has been a massive success.
“For the first time in many years venues in the Caribbean have been consistently packed to the rafters and the atmosphere the fans have generated has been incredible.
“The staggering public support has been matched by unprecedented commercial support, the like of which this region has never seen for a cricketing event, with local and international business joining the party.”
Even before a ball was bowled 37 commercial partners were on board, including nine league sponsors, an apparel partner and sponsors for each of the six franchises as well as four national tourism boards also supporting the event.
On top of that, high profile individuals from the worlds of entertainment and business also got involved and threw their weight behind the Limacol CPL with Hollywood actors Mark Wahlberg and Gerard Butler taking equity shares in the Barbados Tridents and Jamaica Tallawahs respectively while Sir Richard Branson’s Virgin Group backed the Antigua Hawksbills.
“We have had a global audience for the action through outstanding broadcast coverage on television and radio, and the Limacol CPL has also enjoyed a significant presence on social media through Facebook, Twitter and YouTube,” said O’Donohoe. “I cannot thank the fans enough for showing up in their numbers each night and showing the world how we do cricket in the Caribbean. Caribbean cricket fans are like no other on the planet and their support of this Tournament played a huge, integral part in its success. We are grateful for, and inspired by their love for the game.
“In addition, the commercial partners and players as well as the staff who have worked tirelessly behind the scenes, and the army of volunteers enlisted at each of the venues, have all contributed to the final result and everyone involved deserves thanks for their efforts.
“The result has exceeded our expectations and now our task is to build on what we have achieved this year, ensures the Limacol Caribbean Premier League goes from strength to strength and that it becomes even bigger and better next year.”
Ajmal Khan, Chairman of Verus International and Founder of the Limacol Caribbean Premier League said: “When we set out on this journey we asked everyone involved to come and play – and that is exactly what has happened.
“We wanted the Limacol Caribbean Premier League to be the biggest party in sport and there is no doubt we achieved it.
“The players did their part by producing a host of memorable performances, the fans came and enjoyed themselves in huge numbers and our sponsors backed the event like never before in this region.
“The Limacol Caribbean Premier League has shown both the West Indian public’s enduring love for cricket and the limitless potential for growth and success that there is in this region.
“Within an incredibly short space of time we have established the Limacol Caribbean Premier League as something that everyone – players, fans and commercial partners – wants to be involved in.
“Our task now is to ensure that we build on this success starting with the second edition next year.”
Jamaica Tallawahs captain Chris Gayle summed up the feelings of players from each of the six franchises when he said: “It has been a great tournament and I am really happy to be here at the end.
“I give thanks to the fans for turning out and supporting us. I am very happy with the (Limacol) CPL and hopefully next year it will be even bigger and better – and I will be here again.”
Ramnaresh Sarwan, the captain of the Guyana Amazon Warriors added: “I was fortunate to play in the IPL a few years ago but I think this (Limacol Caribbean Premier League) is right up there and I can only see it getting bigger and better.”
The Limacol Caribbean Premier League took place between July 30 and August 24 and involved six franchises – the Antigua Hawksbills, the Barbados Tridents, the Guyana Amazon Warriors, the Jamaica Tallawahs, the St. Lucia Zouks, and Trinidad & Tobago Red Steel - from across the region.
Source-CMC
WICB happy with success of Limacol CPL
President of the West Indies Cricket Board Whycliffe ‘Dave’ Cameron says he is very pleased with the success of the inaugural Limacol Caribbean Premier League (LCPL) T20 Tournament so far, and impressed with the response the League has received both regionally and internationally.
The WICB signed an agreement with LCPL with the goal of further developing and strengthening West Indies cricket by expanding the global fan base as well as increasing the number of West Indian cricketers under regional retainer contracts, and showcasing the talent and beauty of the Caribbean internationally.
Cameron says he believes these objectives are being met.
“The support of the Limacol CPL by the West Indian fans has been overwhelming and this is evidenced by the sold-out crowds at each and every match so far. That says to me that the interest and passion for the game is still there, and it’s our responsibility to continue to nurture that love which is what the LCPL is all about,” said Cameron.
“In addition, the entire world has come to play through the global reach and appeal that the Tournament has achieved. The combination of some of the best regional and international T20 players with the amazing carnival, party-like atmosphere for which the Caribbean is renowned has turned the eyes and ears of the world to our shores, and we could not be more pleased about that exposure.”
The Limacol CPL is being broadcast on television in India, the UK, Australia, New Zealand, the Caribbean and the USA, reaching millions of viewers through such networks as ESPN3, Fox Sports, BT Sports and Sony.
ESPN Caribbean also produces a weekly highlights show of the Tournament which airs on the ESPN Caribbean television network and online at ESPN Play. In addition, the Line and Length Radio Network offers live ball-by-ball commentary of all the matches which airs on 22 radio stations in the English-speaking Caribbean and reaches over 850 000 listeners.
The Limacol CPL has also developed a strong presence on social media networks Facebook and Twitter with thousands of fans and followers keeping up to date on the latest news and match information from the six franchise teams. Celebrities such as actor Mark Wahlberg – part owner of the Barbados Tridents – and Virgin Group Chairman Sir Richard Branson – sponsor of the Antigua Hawksbills team – who tweet about the Tournament have added to the interest.
Cameron said that he is impressed by the hidden talent that is emerging as a result of the League.
“Players like young Nicholas Pooran (Trinidad & Tobago Red Steel) and the likes of Rayad Emrit (Barbados Tridents), Sheldon Cotterell (Antigua Hawksbills) and Steven Jacobs (Guyana Amazon Warriors) to name a few, that may have flown under the radar or been overshadowed by the bigger names in the region have now been given their time to shine, and they are indeed taking advantage of that opportunity.
“I expect that the Limacol CPL will open many doors for these young men to play cricket all over the world and it’s satisfying to know that it all started with the LCPL.”
Limacol CPL chief executive officer Damien O’Donohoe agrees. “As the governing authority for cricket in the region, the WICB have shown great foresight and support in how they have partnered with us to develop the LCPL.
“While in our inaugural year of the Tournament we recognise we have a long way to go to build and achieve all our mutual goals, we are warmed by the reception that the WICB and all local territorial boards have provided throughout and the passion with which they have interacted with us concerning our future development programmes which we think will yield far reaching results for the sport in the region.”
England win series 3-0 after bad light ends Ashes 2013
England were denied a probable victory over Australia in the final Test when bad light ensured the match ended in a draw which confirmed the hosts' 3-0 series win.
Set a target of 227 by Michael Clarke's ambitious declaration, England needed 21 more from 24 balls with five wickets in hand when play was called to a halt by the umpires at 7.36pm.
The Oval crowd, who had been treated to an incredible final day in which 447 runs were scored and 17 wickets fell, booed in disapproval before gathering to watch England captain Alastair Cook lift the Ashes urn.
England, who have now won three Ashes series in a row for the first time since 1977-1981, celebrated with a lap of honour while fireworks blazed over the pavilion.
Cook said: "It would have been nice to finish with a win but the rules and regulations are there for a reason. The umpires have strict guidelines and, if it was day three, we would have gone off."
Such an absorbing and ultimately controversial conclusion to the series looked unlikely when England began the final day only four wickets down in their first innings.
But the hosts' aggressive approach on Sunday morning, and Australia's determination to give themselves a chance of a consolation victory, saw Clarke declare his side's second innings on 111-6 at tea and set England a tantalising target in 44 overs.
A partnership of 64 between Cook (34) and Jonathan Trott set England on course before a buccaneering 62 off 55 balls from Kevin Pietersen established the hosts as firm favourites.
After Trott (59) and Pietersen were dismissed in quick succession, Chris Woakes and Ian Bell kept up the pace, but with the light fading rapidly, Australia began to complain.
When Bell was run out by Mitchell Starc for 17, the umpires consulted their light meters, and took the unpopular decision to end the match, denying the full house the finale they desired.
Under International Cricket Council regulations, the umpires were obliged to take the players off once the light had faded to the same level it was when they had stopped play on Thursday evening.
The crowd subsequently jeered the umpires and Clarke during the post-match presentation before applauding Cook's triumphant team as they jogged around the floodlit outfield with flags draped around their shoulders.
The victory margin was their biggest in the Ashes since they won 5-1 in 1978-79 and their best at home since their 3-0 win in 1977 - the last time Australia failed to win a single match against their fiercest rivals.
The result also means England move above India into second place in the ICC Test rankings, while Australia drop below Pakistan into fifth.
Source-BBC
Mike Tyson 'close to death from drugs and alcohol'
Former undisputed heavyweight world champion Mike Tyson claims he is "on the verge of dying" from ongoing drug and alcohol problems.
Tyson, 47, admitted he is a continual substance abuser but added he is hopeful of finally getting clean.
"I want to live my sober life. I don't want to die. I'm on the verge of dying, because I'm a vicious alcoholic," Tyson said on ESPN's "Friday Night Fights".
"I'm a bad guy sometimes. I did a lot of bad things, I want to be forgiven."
At the age of 20, in 1987, the American fighter held the record as the youngest boxer to win the WBC, WBA and IBF heavyweight titles.
But five years later Brooklyn-born Tyson was convicted of raping Desiree Washington and sentenced to six years in prison.
He returned to the ring but retired from the sport in 2006 and in 2007 was sentenced to 24 hours in jail and 360 hours of community service for drug possession and driving under the influence.
Tyson, who now works as a boxing promoter, added: "I hope they can forgive me. I want to change my life, I want to live a different life now.
"I haven't drank or took drugs in six days, and for me that's a miracle.
"I've been lying to everybody that thinks I was sober, but I'm not. This is my sixth day. I'm never going to use again."
Lance Armstrong reaches settlement with Sunday Times
Disgraced cyclist Lance Armstrong has reached an agreement with the Sunday Times after it had sued the drugs-tainted American for around one million pounds, the British paper announced yesterday.
"It is the final episode in a long legal battle between this newspaper and the fallen icon..." the paper said.
The newspaper was forced to pay Armstrong 300,000 pounds in 2006 to settle a legal case after it had questioned his Tour de France victories in an article published two years earlier.
However, after the 41-year-old was stripped of his record seven Tour wins and handed a life ban last year for cheating his way to glory, the newspaper demanded a return of the payout plus interest, as well as costs accrued in defending the case.
After years of denials, Armstrong confessed in an interview with Oprah Winfrey earlier this year that he used performance-enhancing drugs to cheat his way to the Tour de France wins.
Greece may need a third bailout
Greece may need a third bailout but would not accept new austerity measures, the Greek finance minister has said.
Yannis Stournaras said: "If there is need for further support to Greece, it will be in the order of about 10bn euros (£8.6bn; $13.4bn), or much smaller than the previous programmes."
Greece has already received two bailouts totalling about 240bn euros.
Meanwhile, Angela Merkel has warned about writing down any more Greek debt.
Germany's chancellor said a so-called haircut of Greek debt would be bad for the stability of the eurozone, which has seen a return in investor confidence after years of worrying about the future of the single currency following bailouts of several nations - most recently, Cyprus.
"I am expressly warning against a haircut," Mrs Merkel said. "It could trigger a domino effect of uncertainty with the result that the readiness of private investors to invest in the eurozone again falls to nothing."
Her comments come after Germany's finance minister, Wolfgang Schaeuble, said - for the first time - earlier this month that Greece will need another bailout to plug a forthcoming funding gap.
The issue of bailouts is a sensitive one in Germany, where Mrs Merkel faces elections for a third term on 22 September.
Many Germans feel they have already contributed enough to European bailouts.
The International Monetary Fund (IMF) last month estimated Greece would need around 11bn euros in 2014-15.
Argentina loses $1.3bn debt court appeal
Argentina has been told again it must pay back more than $1.3bn (£830m) to a group of investors - 11 years after its record debt default.
A New York appeals court unanimously rejected every Argentine argument against the payout.
The decision is the latest twist in the long-running legal saga.
Argentina refuses to pay anything to investors who declined to participate in a previous debt reduction deal involving most of the nation's lenders.
"What the consequences predicted by Argentina have in common is that they are speculative, hyperbolic and almost entirely of the Republic's own making," the judges said in their decision.
But the appeals court held off forcing Argentina to pay pending an appeal to the Supreme Court - which is considered unlikely to hear the case, but puts off any decision to 2014, well after Argentina's congressional elections in October.
The appeal came after a Manhattan court ruled last February that Argentina had violated its contractual obligation to treat all creditors equally. That meant the country would have to pay the bondholders, led by NML Capital and Aurelius Capital Management.
Argentina defaulted on some $100bn of debts in 2002, and has since restructured its debt twice, cancelling around 75% of the nominal value of the bonds.
Almost 92% of the country's bondholders agreed to write off most of the amount owed to them.
NML Capital and Aurelius are demanding 100% repayment of the $1.3bn, plus interest.
The investors were so determined to get their money that they went to court to have an Argentinean ship, the Libertad, impounded in Ghana last year. After several weeks, the ship returned home.
Source-BBC
N.Y. attorney general suing Trump's school for fraud
New York's attorney general accused Donald Trump in a lawsuit Saturday of defrauding students who studied at the billionaire mogul's investment institute, though Trump's representative said a large majority of the school's alumni were satisfied with their experience.
The $40 million civil suit alleges Trump made false claims about the school, including that he was personally involved in selecting instructors and creating the curriculum.
Eric Schneiderman, the New York attorney general, said Trump had crafted a "bait and switch" with his school, using his well-known name.
"Trading on his celebrity status, Mr. Trump personally appeared in advertisements making false promises to convince people to spend tens of thousands of dollars they couldn't afford for lessons they never got," he wrote in a statement. "No one, no matter how rich or famous they are, has a right to scam hard working New Yorkers. Anyone who does should expect to be held accountable."
The suit names both Trump, the chairman of the school, and Michael Sexton, its former president, as defendants. Schneiderman is seeking $40 million to repay customers who have enrolled in the school, as well as additional penalties and fines.
On Twitter, Trump called Schneiderman a "lightweight" and said the attorney general was "trying to extort me with a civil law suit."
He also linked to a website that claims 98% of Trump University's former students were satisfied with their experience.
Michael Cohen, executive vice president of the Trump Organization and a lawyer for the billionaire, said the suit "has no merit and is nothing more than a cheap publicity stunt to deflect from (Schneiderman's) weak job performance."
"I am shocked he didn't leak it to the Kris Kardashian show," Cohen continued. "Maybe his office should focus more of their attention and the use of our tax dollars on bringing to justice those responsible for the financial meltdown."
Cohen also pointed to the website citing an approval rating of 98% for the Trump investing classes, saying the figure was derived from questionnaires submitted by students upon completing the course of study. He said the website was created in anticipation of the lawsuit.
Trump University became the Trump Entrepreneur Initiative in 2010 after the New York State Education Department said the company could not use the term "university" without its consent. In 2011, the attorney general began investigating it, along with several other for-profit educational institutions.
Former students in California have also sued Trump's school, saying its advertising misled them into spending thousands of dollars on workshops and "mentorships." In a class-action suit filed in 2010, the former students say Trump University is "like an infomercial" that lures customers with the Trump name but fails to deliver on its promises of success in real estate.
The Trump school offered courses in real estate, asset management, entrepreneurship and wealth creation. The courses ranged in price from $1,495 for a three-day workshop to $34,995 for a "full education."
Unlike other for-profit schools, Trump's outfit relies heavily on the brand of its namesake.
Trump made his money by investing in New York real estate, casinos and golf courses around the world. But he is perhaps best known in popular culture for his long-running reality television show, "The Apprentice."
More recently, Trump made headlines for suggesting that President Barack Obama is not a U.S. citizen, part of Trump's public mulling of a presidential bid. He eventually declined to run for the White House.
Source-CNNMoney
Jump in mortgage rates hurts new home sales
Americans cut back sharply in July on their purchases of new homes, a sign that higher mortgage rates may slow the housing recovery.
US sales of newly built homes dropped 13.4 per cent to a seasonally adjusted annual rate of 394,000, the Commerce Department said Friday. That's the lowest in nine months. And sales fell from a rate of 455,000 in June, which was revised down from a previously reported 497,000.
The housing rebound that began last year has helped drive economic growth and create more construction jobs. But mortgage rates have climbed a full percentage point since May. The increase has begun to steal some momentum from the market.
Sales of new homes are still up seven per cent in the 12 months ending in July. Yet the annual pace remains well below the 700,000 that is consistent with a healthy market.
July's drop "may mark an uh-oh kind of moment for the housing recovery," said Mark Vitner, an economist at Wells Fargo Securities.
Homebuilder stocks declined sharply Friday, even as overall market indexes rose. Shares of Toll Brothers Inc, DR Horton Inc and Lennar Corp. -- three of the largest US builders -- all fell more than three per cent in afternoon trading.
And major homebuilders' shares have been dropping steadily since late May. The slide began after Federal Reserve Chairman Ben Bernanke first signalled that the Fed might reduce its bond purchases later this year. The bond purchases have helped keep mortgage rates and other borrowing costs low.
The average rate on a 30-year mortgage reached 4.58 per cent this week, according to Freddie Mac. That's up from 3.35 per cent in early May and the highest in two years.
The impact on would-be buyers' finances is significant.
Take someone who locked in the early May rate on a US$200,000 mortgage. They would have a monthly payment of around US$875. But the same mortgage at last week's average rate would cost US$1,025 a month.
The difference adds up to US$150 more each month -- or US$54,000 over the lifetime of a 30-year loan. The monthly figures don't include taxes, insurance or initial down payments.
Potential buyers appear to have noticed that financing a home purchase has become more expensive. The number of Americans applying for mortgages to buy homes has plummeted 16 per cent since the end of April. And builders began work on the fewest single-family homes in eight months in July.
Still, mortgage rates remain low by historical standards. The same US$200,000 loan would cost a buyer US$1,330 a month at a seven per cent rate, the average since 1985.
Most economists expect the housing recovery will continue, albeit at a slower pace.
IMF's Lagarde urges caution over withdrawing stimulus
The head of the International Monetary Fund has warned central banks not to end their stimulus measures too soon.
Christine Lagarde said stimulus policies were still needed in some regions, especially Europe and Japan.
With signs that the global economy is improving, there has been much debate about when supportive policies should be wound down.
But, in a speech in the US, Ms Lagarde said she did not suggest a "rush to the exit" as some economies remain fragile.
The US Federal Reserve has signalled it may slow down its huge monthly bond buying programme, a suggestion that has hit stock markets and currencies around the world.
But Ms Lagarde said stimulative measures had been successful and were still necessary in key economies.
Any withdrawal should be determined by the strength of individual economies, she said.
"Unconventional monetary policy is still needed in all places it is being used, albeit longer for some than for others,'' Ms Lagarde said in her speech to a conference in Jackson Hole, Wyoming.
She said finance officials should prepare contingency plans in case market turbulence worsened.
Support being provided by major central banks is buying time for nations to implement key economic reforms.
"Push ahead with deeper reforms to lay the foundation for durable and lasting growth,'' Ms Lagarde said. "Do not waste the space provided by unconventional monetary policies.''