CPL names six franchise teams
The Caribbean Premier League (CPL) authorities have announced the name of its six franchise teams and unveiled the team logos after weeks of speculations and hundreds of suggestions via social media, reports UNB.
The names of six CPL franchise teams: Antigua Hawksbills, Barbados Tridents, Guyana Amazon Warriors, Jamaica Tallawahs, St Lucia Zouks, and Trinidad & Tobago Red Steel.
Caribbean Cricket Premier League squads finalised
The Caribbean Premier League draft was held in Jamaica on June 5, with squads of 15 finalised for each of the six participating franchises.
Marlon Samuels has been named a franchise player for Antigua and Barbuda, Kieron Pollard for Barbados, Sunil Narine for Guyana, Chris Gayle for Jamaica, Darren Sammy for St Lucia, and Dwayne Bravo for Trinidad & Tobago. The West Indies franchise players, who were in London because of the Champions Trophy, were tuned in online during the draft process. “I really enjoyed the entire draft process. I can’t wait for the CPL to get started, and I love my team,” Bravo said.
Among the overseas players, Ricky Ponting, Steven Smith and Justin Kemp will play for Antigua and Barbuda while Shoaib Malik, Umar Akmal, and Shakib Al Hasan will play for Barbados. Mohammad Hafeez, Martin Guptill, and James Franklin will represent Guyana, and Muttiah Muralitharan, Shaun Marsh, Vernon Philander, and Jacques Rudolph have been enlisted by Jamaica. Herschelle Gibbs, Albie Morkel, and Tamim Iqbal have been signed by St Lucia, and Ross Taylor, Aaron Finch, and Kevin O’Brien will turn out for Trinidad & Tobago. Adam Gilchrist, last week, pulled out of the Caribbean Premier League due to an ankle injury.
Players in the league were originally divided into three groups. Pool A featured international cricketers – 14 from West Indies and 12 from overseas. Pool B included six international and over 100 local players, a few of whom have represented West Indies. Under-23 players from across the Caribbean islands made up Pool C.
A head coach, assistant coach, one West Indian and one international player, designated as ‘franchise players’ (who are among the 15 in each squad) made up the team’s selection committee, and was in charge of strategies for the draft. These franchise players were not part of the three pools and were appointed to each team by the league.
Apart from the two franchise players, each team could pick four players from Pool A, seven players from Pool B and two from Pool C. Players selected from Pool C have to be under 23 years of age before September 1, 2013. However, five of the six franchises picked just three international players instead of four. Jamaica was the only one that picked four international cricketers.
A total of 24 matches will be played in the competition that starts on 30 July and ends on August 24.
Antigua and Barbuda: Marlon Samuels, Ricky Ponting, Kieran Powell, Johnson Charles, Kemar Roach, Steven Smith, Sheldon Cotterell, Dave Mohammed, Devon Thomas, Gavin Tonge, Justin Kemp, Rakheem Cornwall, Jahmar Hamilton, Anthony Martin, Montcin Hodge.
Barbados: Kieron Pollard, Shoaib Malik, Dwayne Smith, Shakib Al Hasan, Umar Akmal, Jason Holder, Shannon Gabriel, Rayad Emrit, Ashley Nurse, Carlos Brathwaite, Jonathan Carter, Kyle Mayes, Devendra Bishoo, Kirk Edwards, Ramon Reifer.
Guyana: Sunil Narine, Mohammad Hafeez, Ramnaresh Sarwan, Lendl Simmons, Denesh Ramdin, James Franklin, Christopher Barnwell, Martin Guptill, Krishmar Santokie, Steven Jacobs, Ronsford Beaton, Trevon Griffith, Narsingh Deonarine, Veerasammy Permaul.
Jamaica: Chris Gayle, Muttiah Muralitharan, Andre Russell, Ravi Rampaul, Shaun Marsh, Vernon Philander, Danza Hyatt, Carlton Baugh, Nikita Miller, Jacques Rudolph, Chadwick Walton, Jermaine Blackwood, Akeem Dewar, Dave Bernard, Nkrumah Bonner.
St. Lucia: Darren Sammy, Herschelle Gibbs, Albie Morkel, Tino Best, Tamim Iqbal, Shivnarine Chanderpaul, Shane Shillingford, Devon Smith, Andre Fletcher, Garey Mathurin, Liam Sebastien, Dalton Polius, Kavem Hodge, Kenroy Peters, Nelon Pascal.
Trinidad & Tobago: Dwayne Bravo, Ross Taylor, Darren Bravo, Fidel Edwards, Aaron Finch, Samuel Badree, Kevon Cooper, Kevin O’Brien, Sulieman Benn, Adrian Barath, Delorn Johnson, Nicholas Pooran, Yannick Cariah, Miguel Cummins, Justin Guillen.
India squad unchanged for West Indies tri-series
India has named an unchanged squad from the one playing in the Champions Trophy for the ODI tri-series in the West Indies, which begins on June 28. The continuity is reflective of the team’s success in the ongoing tournament, where they have reached the semi-finals after winning all their group matches.
The squad includes five seam bowlers in Umesh Yadav, Ishant Sharma, Bhuvneshwar Kumar, Irfan Pathan and Vinay Kumar, and three spinners: R Ashwin, Ravindra Jadeja and Amit Mishra. MS Dhoni, Shikhar Dhawan, Rohit Sharma, Virat Kohli, Suresh Raina, Dinesh Karthik and M Vijay constitute the batting.
India will travel to the West Indies following the Champions Trophy, for the series that also includes the hosts and Sri Lanka.
The make-up of the squad indicates that the Indian selectors, in relation to the one-day team, have turned their focus firmly on World Cup 2015. India had fielded a new-look team for the Champions Trophy, dropping seniors like Gautam Gambhir and Yuvraj Singh. These players as well as others—including Zaheer Khan, Virender Sehwag and Harbhajan Singh—who had been central to India’s success over the previous decade but have had form and injury issues of late, remain sidelined.
India has named an unchanged squad from the one playing in the Champions Trophy for the ODI tri-series in the West Indies, which begins on June 28. The continuity is reflective of the team’s success in the ongoing tournament, where they have reached the semi-finals after winning all their group matches.
The squad includes five seam bowlers in Umesh Yadav, Ishant Sharma, Bhuvneshwar Kumar, Irfan Pathan and Vinay Kumar, and three spinners: R Ashwin, Ravindra Jadeja and Amit Mishra. MS Dhoni, Shikhar Dhawan, Rohit Sharma, Virat Kohli, Suresh Raina, Dinesh Karthik and M Vijay constitute the batting.
India will travel to the West Indies following the Champions Trophy, for the series that also includes the hosts and Sri Lanka.
The make-up of the squad indicates that the Indian selectors, in relation to the one-day team, have turned their focus firmly on World Cup 2015. India had fielded a new-look team for the Champions Trophy, dropping seniors like Gautam Gambhir and Yuvraj Singh. These players as well as others—including Zaheer Khan, Virender Sehwag and Harbhajan Singh—who had been central to India’s success over the previous decade but have had form and injury issues of late, remain sidelined.
India team for tri-series v WI, SL
MS Dhoni (capt/wk), Shikhar Dhawan, M Vijay, Rohit Sharma, Virat Kohli, Dinesh Karthik (wk), Suresh Raina, Ravindra Jadeja, R Ashwin, Bhuvneshwar Kumar, Ishant Sharma, Umesh Yadav, Irfan Pathan, Amit Mishra, Vinay Kumar
G8 leaders agree tax evasion measures
Leaders of the G8 major economies have agreed new measures to clamp down on money launderers, illegal tax evaders and corporate tax avoiders.
Governments agreed to give each other automatic access to information on their residents' tax affairs.
They will also require shell companies - often used to exploit tax loopholes and invest money anonymously - to identify their effective owners.
The measures are designed to combat illegal evasion of taxes, as well as legal tax avoidance by large corporations that make use of loopholes and tax havens.
The summit in Northern Ireland also saw the launch of free trade negotiations between the EU and US, which UK Prime Minister David Cameron, who was hosting the summit, dubbed "the biggest bilateral trade agreement in history".
Tax, trade and transparency - dubbed "The Three Ts" - were placed at the top of the UK's agenda for its presidency of the G8, which consists of the UK, US, Germany, France, Italy, Russia, Canada and Japan.
But the summit has been overshadowed by the conflict in Syria.
The G8 leaders - including Russian President Vladimir Putin, an ally of Syrian leader Bashar al-Assad - backed calls for Syrian peace talks to be held in Geneva "as soon as possible".
Mr Cameron said the leaders had managed "to overcome fundamental differences", but no timetable for the Geneva talks was given, and the statement made no mention of what role Mr Assad could play in the future.
Shadowy arrangements
Leaders agreed that multinationals should tell all tax authorities about what taxes they pay and where.
"Countries should change rules that let companies shift their profits across borders to avoid taxes," the communique said.
Leaders agreed that multinationals should tell all tax authorities about what taxes they pay and where.
"Countries should change rules that let companies shift their profits across borders to avoid taxes," the communique said.
It follows revelations about the ways in which several major firms - including Google, Apple, Starbucks and Amazon - have minimised their tax bills.
Illegal activities, including tax evasion and money laundering, will be tackled by the automated sharing of tax information.
Ahead of the summit, the Organisation for Economic Co-operation and Development (OECD), proposed to share tax information by building on an existing system set up by the US and five major European economies, but on a global scale.
"This international tax tool is going to be a real feature of ensuring that we get proper tax payment and proper tax justice in our world," said Mr Cameron, who claimed that it meant "those who want to evade taxes have nowhere to hide".
The OECD includes all of the G8 members except Russia.
Among the information to be shared will be who actually ultimately benefits from the shadowy shell companies, special purpose companies and trust arrangements often employed by tax evaders and money launderers.
Earlier in the day, Chancellor George Osborne unveiled plans for a UK register of companies and their owners.
The White House also announced a similar plan for the US.
Last week the UK also unveiled a deal with its crown dependencies and overseas territories - including the Channel Islands, Gibraltar and Anguilla - to start sharing more information on which foreign companies bank their profits there.
About a fifth of offshore tax havens, which are used by multinationals to shelter cash from the tax authorities, are British dependencies.
Source-BBC
Oil climbs above US$98 ahead of Fed policy news
The price of oil rose above US$98 yesterday as traders awaited the latest word on both the Federal Reserve’s monetary policy and US oil supplies. US benchmark oil for July delivery rose 67 cents to close at US$98.44 a barrel on the New York Mercantile Exchange. The focus in oil markets, as in others, was on the Fed, as policymakers began a two-day meeting.
To help support the US economic recovery, the Fed has been buying US$85 billion in bonds every month in an attempt to keep long-term interest rates low and encourage lending. The new money generated has flowed into the financial system, helping many assets, including oil, to climb from the lows witnessed during the global recession following the 2008-2009 financial crisis.
After the meeting ends today, Fed chairman Ben Bernanke will hold a press conference. Investors want to hear if the Fed plans to reduce the amount of financial assets it is buying each month. Few expect a change in policy today as some recent economic data has been disappointing. The uncertainty though has rattled markets in recent weeks.
Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates, said in a note to clients that big gains yesterday in the stock market indicated that Wall Street expects the Fed to maintain its current policy. Oil traders will also be monitoring fresh information on US stockpiles of crude and refined products.
Data for the week ending June 14 is expected to show a decline of 1 million barrels in crude oil stocks and an increase of 1.2 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill. The American Petroleum Institute released its report on oil stocks last night, while the report from the Energy Department’s Energy Information Administration—the market benchmark—will be out today.
Brent crude, a benchmark for many international oil varieties, gained 55 cents to US$106.02 a barrel on the ICE Futures exchange in London. In other energy futures trading on the Nymex:
• Wholesale gasoline added two cents to US$2.88 a gallon.
• Heating oil was rose one cent to US$2.96 per gallon.
• Natural gas gained three cents to US$3.91 per 1,000 cubic feet.
Meanwhile, metal prices fell yesterday as traders anticipate that the Federal Reserve may start easing its support for the US economy. The price of gold for August delivery fell US$16.20, or 1.2 per cent, to US$1,366.90 an ounce. Palladium and silver also declined. Only platinum bucked the trend and edged higher.
The central bank will end its two-day policy meeting today. Until this year, the Fed’s bond-buying stimulus programme had helped drive gold prices to record highs. Many investors thought the Fed’s efforts to pump money into the financial system would lead to high inflation, and they bought gold as insurance. Yet inflation has remained tame and the Fed may now signal it intends to ease its stimulus as the economy recovers. Gold has fallen 18 per cent this year.
“The bears are maintaining control of the metals until proven otherwise,” said Matt Zeman of Kingsview Financial. Silver for July delivery fell 8.1 cents, or 0.4 per cent, to US$21.677 an ounce. Copper for the same month dropped 4.25 cents, or 1.3 per cent, to US$3.155 a pound. Palladium for September fell US$9.50, or 1.3 per cent, to US$708.35 an ounce. Platinum for July gained $5.30, or 0.4 per cent, to US$1,440.10 an ounce. In trading of agricultural products, wheat, corn and soybeans all rose.
Wheat for July gained seven cents, or one per cent, to US$6.875 a bushel. Corn for December rose 12 cents, or 2.2 per cent, to US$5.5050 a bushel. Soybeans for November climbed 4.25 cents, or 0.3 per cent, to $12.8975.
Source-AP
Deloitte gets one-year New York ban
Deloitte has agreed to a one-year suspension from doing consulting work for financial firms in the state of New York, after regulators criticised its work at Standard Chartered bank on anti-money laundering issues.
New York's financial regulator cited the company's "misconduct, violations of law, and lack of autonomy".
Deloitte will also pay the state of New York $10m (£6.4m) under the agreement.
Deloitte could not immediately be reached for comment.
Last year, UK-based Standard Chartered agreed to pay $340m to the Department of Financial Services (DFS), as well as $227m to the Department of Treasury and a fine of $100m imposed by the Federal Reserve, to settle charges it violated US sanctions on Iran, Burma, Libya and Sudan.
After investigating Deloitte's work at Standard Chartered, New York's DFS found that the firm did not demonstrate the necessary autonomy required of consultants performing regulatory work.
It also said that Deloitte had violated New York banking law by disclosing confidential information of other clients to Standard Chartered.
In addition to the voluntary suspension and agreeing to pay the $10m fine, Deloitte will implement a set of reforms designed to help address conflicts of interest in the consulting industry, the DFS said.
"The State's agreement with Deloitte will serve as a new model for reforming the financial services consulting industry in New York as well as across the country," New York Governor Andrew Cuomo said in a statement.
"When tasked by government agencies to undertake regulatory work at financial institutions, it is critical for these consultants to remain autonomous and avoid conflicts of interest. Our homeowners, investors and economy are protected when independent consultants are truly 'independent'."
Japan exports rise by most since 2010
Japanese exports rose in May by the most since 2010 as the yen weakened, providing a boost to Prime Minister Shinzo Abe's plan to revive the economy.
Shipments shot up 10.1% from the previous year, data showed, rising for a third straight month.
The yen has weakened significantly since last year, despite recent gains, helping exporters.
A strong yen makes their goods expensive overseas and cuts profits.
"We can certainly say that exports are headed in the right direction," said Shuji Tonouchi from Mitsubishi UFJ Morgan Stanley Securities. "The breakdown shows that export volumes are still a little weak. Demand from the United States is doing well."
Shipments picked up in key markets with exports to the US rising 16.3% from a year earlier. Shipments to China increased 8.3%.
However, imports kept pace rising by 10% in May from a year ago, data showed. Therefore the trade balance came to a deficit of 993.9bn yen ($10.4bn; £6.7bn).
It marks the 11th straight month that Japan has posted a deficit as energy import costs continue to be high after nuclear plants were shut down.
Stocks closes High on Wall Street
Stocks on Wall Street closed higher on Tuesday, as investors pinned their hopes on the US Federal Reserve sticking to its current bond-buying stimulus programme.
The Dow Jones Industrial Average rose 138.38 points, or 0.91% to finish at 15318.23.
Elsewhere, the Standard and Poor's 500 rose 12 points, or 0.8%, to 1,651.
Traders are now waiting for the conclusion of the latest Federal Reserve meeting on Wednesday.
Investors appear confident that the Fed will not opt to wind down its economic stimulus programme just yet, despite the recent improvements in the US economy.
"The game is different from what it used to be,'' said Mark Spellman, portfolio manager for Value Line Funds in New York.
"It's not just, 'Is the Fed going to raise (its benchmark interest rate) up or down?' It's 'Is the Fed going to keep buying $85bn worth of bonds each month?'" he added.
Official figures on Tuesday suggested a pick-up in new homes building and inflation that is rising at a manageable rate.
Shares in Dell rose 0.5% after the billionaire investor Carl Icahn called on the computer maker to purchase a majority of its outstanding shares for $14 per share in his latest effort to block founder Michael Dell's plan to take the company private. Dell has offered $13.65 per share.
UnitedHealth rose 2% after Deutsche Bank raised the price target on the shares to $63 from $60.
Hormel Foods, the maker of Skippy peanut butter and Spam, slipped 3.6% after the company said it expects lower profits for the year.
Source-BBC
US House Republicans pass abortion-limits bill
The Republican-controlled US House of Representatives has passed a bill that would introduce strict abortion limits.
The plan to restrict terminations to the first 20 weeks after conception was approved by 228 votes to 196, largely along party lines.
But it has no chance of becoming law as Democrats control the Senate and the White House has threatened a veto.
Most US states allow abortions to when a foetus becomes viable outside the womb, considered to be some 24 weeks.
The Republican leadership pressed ahead with the abortion bill after the case of Kermit Gosnell, a Philadelphia abortion doctor who was recently sentenced to life in prison after being convicted of killing three babies delivered alive.
The legislation passed on Tuesday makes exceptions for victims of rape and incest, as long as they first report the crime to authorities.
Republican congressman Trent Franks, the bill's sponsor, provoked outrage last week when he said in a committee hearing that the "incidence of rape resulting in pregnancy [is] very low".
BBC Washington correspondent Jane Little says that while the bill has delighted the Republicans' core social-conservative supporters, it may alienate the female, young, and independent voters that party bosses hope to win over.
Controversial remarks about abortion by Republicans provoked a backlash during the November 2012 elections.
One candidate said women's bodies could prevent pregnancy in cases of "legitimate rape"; another said pregnancy resulting from rape was "something God intended to happen".
Ten US states have passed laws similar to the House bill, although several are facing legal challenges.
Brazil clashes after President Rousseff praises protests
Riot police and protesters clashed in fresh protests on Tuesday in Brazil's largest city, Sao Paulo.
Shops and banks were vandalised by groups of masked activists, who fought other demonstrators trying to stop the violence.
The protests began earlier this month, with demonstrators calling for a 10% hike in bus fares to be revoked.
But they have since grown into a nationwide movement calling for better education, schools and transport.
Looting
More than 50,000 people gathered in front of the Sao Paulo Cathedral on Tuesday for a march through the city centre.
Scuffles broke out with police outside the office of Mayor Fernando Haddad.
Police officers sought refuge inside the building. Stones were thrown, windows broken, and students tried to break down the door.
Journalists were attacked and a car set alight, while protesters set fire to a police station in another part of the city, says the BBC's Luis Kawaguti.
Brazilian TV showed images of a small group of people involved in looting at nearby offices and shops.
Demonstrations were also taking place in the states of Rio de Janeiro and Minas Gerais. As the protests continue, Brazil is hosting the Confederations Cup, a curtain-raiser event for next year's football World Cup.
Many of the demonstrators have complained of the huge sums spent on construction for the World Cup and the 2016 Olympics, which will be hosted by Rio de Janeiro.
Brazilian footballer Hulk said on Tuesday that watching the protests made him feel like taking part. At least two other players have sent messages of support on social media.
The demonstrations are Brazil's largest since 1992, when people took to the streets to demand the impeachment of President Fernando Collor de Mello.
US Military to Put Women in Key Combat Roles
The U.S. military says that within three years, it will put women in key combat positions from which they once were excluded.
Officials from all four branches of the U.S. military gathered at the Pentagon Tuesday to announce a timeline for changes to regulations banning women from more than 200,000 positions.
A senior Pentagon official at the gathering, Juliet Beyler, called the announcement a milestone. She said the Pentagon's goal is to ensure the U.S. military mission is met with the most capable people, regardless of gender.
A top U.S. general, Bennet Sacolick, said cultural, social and behavioral concerns may be bigger hurdles than physical fitness requirements for women seeking to move into special operations units. He said the key characteristic of today's special operations people is "intellect."
The general said the days of "Rambo" are over, a reference to the movie series depicting a U.S. war hero who relies much on brute strength.
The U.S. Marines already maintain new gender-neutral physical tests, and the Army will have new standards by 2015 that will allow women to be part of its elite Ranger regiment.
American women have served in combat roles for years, and hundreds have been killed on the front lines. But women have been excluded from key positions in areas including special operations and infantry.