Categories
Sports

Alpine’s claim to Piastri as Ricciardo faces McLaren exit

Alpine's claim to Piastri as Ricciardo faces McLaren exit

Oscar Piastri and Daniel Ricciardo

Daniel Ricciardo is set to be replaced at McLaren for the 2023 Formula 1 season by Oscar Piastri.

Ricciardo has reportedly been asked to make way for his countryman for next season, despite holding a valid contract with the team.

In turn, Piastri will join the Woking squad alongside Lando Norris on a two-plus-one deal.

All this comes despite the stated position from Alpine to the contrary, and radio silence from McLaren.

The motorsport world has run rampant since Monday, when Fernando Alonso’s decision to join Aston Martin for 2023 was announced.

On Friday, it was revealed that Piastri had signed a deal with McLaren for next year, which had been accepted by the Contract Recognition Board, a facility of the FIA.

The primary function of the CRB is to provide a resolution to driver contract disputes in days rather than weeks, without needing to involve expensive legal proceedings.

It is a body which is included in the Formula 1 Sporting Regulations, and is cited in Schedule 11 of the Concorde Agreement, the commercial contract between teams and the sport’s rights holder (Liberty Media).

The CRB is understood to have deemed McLaren holds a valid contract with Piastri for 2023.

Effectively it means, at least in the eyes of the FIA, Alpine has no legal claim to the Australian.

That isn’t necessarily the end of the affair, though pursuing it further opens a costly legal pandoras box, and draws aspects of the Concorde agreement itself into question.

On Tuesday when he spoke with the media, Szafnauer stated Alpine’s position and opinion on the matter.

His comments pre-date Alpine’s ‘confirmation’ of Piastri, but provide insight into the thinking at Enstone.

“I’m not privy to whatever pre-arrangements I have [Piastri] has with McLaren, if any at all, but I hear the same rumors that you do,” Szafnauer began.

“But what I do know is that he does have contractual obligations to us, and we do to him.

“We’ve been honoring those obligations all year, and those obligations last through ’23 and possibly in ’24 if some options are taken up.

“Our obligations to him this year was to be a reserve driver, to also put him in last year’s car for a significant amount of time – we’re well over half that program of 5000 kilometers, which isn’t insignificant, in last year’s car in preparation for a race seat next year – also Free Practice 1s, some simulator work.

“We’ve been performing those obligations on both sides,” he added.

“So he’s been performing, we’ve been performing, so therefore we do have a legal contract with him in the future for ’23 and, if an option is taken up, for ’24.

“I don’t know what he’s done with McLaren, like I said, I’m not privy to that.”

It’s thought Piastri signed a deal with McLaren over the Hungarian Grand Prix weekend, and was lodged with the CRB on July 30, prior to Alonso’s departure from Alpine.

Szafnauer said he only learned of the Spaniard’s defection through the media on Monday.

He then spoke with the media on Tuesday morning, having spent the previous afternoon fielding calls from prospective drivers.

It leaves precious little time to have got to the bottom of Piastri’s contract situation to understand exactly what rights Alpine has over him.

Nonetheless, Szafnauer is adamant that his team has a valid claim over the Melburnian, and believes it is Alpine which is entitled to decide where he drives in 2023.

“So the contractual terms, you know that those details we don’t like to disclose, but it was on the team’s side to say, not on the driver side,” he said.

He went on to explain the process of contractually converting Piastri from the team’s reserve driver to a full-time racer.

“There are some considerations of going from a reserve driver contract with options, to become a racing driver, to that racing driver contract,” he stated.

“But we’re absolutely in the position to take him.

“It’s just when you switch to racing driver; a racing driver these days signs, some of them, four different contracts.

“There’s commercial agreements, testing agreements, racing agreements, link agreements, there’s all that kind of stuff. And those are for all sorts of different considerations.

“When you move from reserve driver to racing driver, all that stuff has to happen too.

“But yes, we do have the right to take him.”

Szafnauer’s stance appears at odds with developments of the week as they’re understood to have transpired.

On the other side of the ledger, it’s suggested McLaren advised Ricciardo over the course of the Hungarian Grand Prix that he would be replaced by Piastri next season.

Should that indeed be the case, a settlement would need to be reached given the 33-year-old has a deal for 2023.

It’s understood the option to continue into next season sits on Ricciardo’s side, and would therefore need his cooperation.

Another possibility, should he not agree to step away, is Piastri taking on the reserve driver role at McLaren next year, then stepping into a race drive in 2024.

That is thought to be unlikely, with Ricciardo expected to reach a settlement and move on, freeing the pathway for his compatriot.

With few high caliber drivers and competitive seats on the market, the logical extension is therefore a return to Alpine.

It’s a move Szafnauer has suggested the operation would be open to.

“In the short term, we now have to replace Fernando with the absolute best driver, but what we mustn’t forget is we have [a] 100 race plan to start winning races and vying for a championship,” Szafnauer explained.

“We’re over 10 races into that, so we’ve got 80-some races left.

“The choice for us has to be one that complements that goal.

“That driver that sits next to Esteban [Ocon] has to be the best choice for us, that complements and helps us attain that goal.

“If you looked at Fernando, for example, he comes and goes, and I think that happens to other drivers too,” he added specifically referring to a Ricciardo return.

“I don’t think that’s an issue at all.

“I think what we need to focus on, for the plans that we have, for the next 89/88 races.

“We’ve got to make sure that we complement that plan with the best driver that we can, and there are some options out there for us.”

Categories
Australia

New Adelaide accommodation for domestic violence victims expected to be full within weeks

Women standing around a bench top looking at each other

Eight new units have been set up in an undisclosed location in Adelaide to help women and children escape domestic violence.

South Australia is the first state to get new upgraded facilities, with other states set to follow suit.

It is a part of a $20 million federal government program to upgrade domestic violence services across the nation.

The Adelaide facility, operated by the Salvation Army, will accommodate approximately 40 people, with on average one adult and four children per property.

Salvation Army general manager of family violence Lorrinda Hamilton said the facility was in high demand.

“We are almost half full and we’ve only been open for two weeks,” she said.

A woman standing with a beige jacket and looking serious
Lorrinda Hamilton says the Salvation Army runs domestic violence refuge facilities across the nation. (abcnews )

“We are expected to be fully occupied within the next week.

“These facilities are critical. The demand for family violence responses outstrips the supply of refuge accommodation.

“It is one of the leading causes of homelessness.”

The site includes recreational facilities and outdoor play areas for children, but in a high-security setting.

DV Shelter Adelaide (1)
Bedroom and living areas have been designed to maximize privacy and safety for parents, while affording them the opportunity to easily supervise their children and ensure their safety. (abcnews )

Ms Hamilton said it was important the location was kept secret.

“It is imperative that we operate in non-disclosed locations, and that’s particularly important when we are working with high-risk family violence, particularly women who might be an imminent risk of death,” she said.

“The majority of people using this facility are from South Australia but there are some women who will be fleeing from interstate who will use this facility.”

A woman with brown curly hair and glasses mid-sentence with everything else around her blurred out
Minister for Social Services Amanda Rishworth says no woman should have to choose between having a home or experiencing violence.(ABC News: Matt Roberts)

Minister for Social Services Amanda Rishworth said the federal government fund was “about supporting women and children who are escaping family and domestic violence.”

“Every 10 days, one woman is killed by their former or current partner,” she said.

“This is a really big problem, family and domestic violence in this country.”

.

Categories
US

Milwaukee to host 2024 GOP convention after Nashville pulls out

Milwaukee to host 2024 GOP convention after Nashville pulls out

Beer, Brats, and Elephants.

The Republican National Committee has officially tapped Milwaukee to host the party’s 2024 national convention, where state and territory delegates will officially select the GOP’s next nominees for president and vice president.

“Milwaukee is a world-class city, and we are eager to see it shine in the spotlight come 2024,” RNC Chair Ronna McDaniel said. “I look forward to working with the members of the Republican National Committee, Milwaukee Mayor Cavalier Johnson, the Milwaukee Host Committee, and Visit Milwaukee to deliver an incredible convention for our Party and nominate the next President of the United States.”

Milwaukee was the last candidate city standing after Nashville’s city council rejected a draft agreement to host the event on Tuesday. However, the RNC’s site committee had already recommended last month that Milwaukee be the pick.

The choice marks a return to the Midwest for the GOP’s quadrennial extravaganza. The Republican Party has held 14 presidential nominating conventions in Chicago since its first election in 1856. Since the last Chicago Republican Convention in 1960, the party has picked Kansas City (1976), Detroit (1980) Saint Paul, Minn. (2008) and Cleveland (2016) as notable convention sites.

Milwaukee was due to host the 2020 Democratic National Convention, but the COVID-19 pandemic intervened and forced all events to be held virtually. The city used its preparations for that convention to argue to Republicans that it had a “turnkey” operation ready to host for real in 2024.

DowntownMilwaukee,
Milwaukee was originally due to host the 2020 DNC but was canceled due to the COVID-19 pandemic.
Getty Images/iStockphoto

“Milwaukee welcomes the 2024 Republican National Convention. My city is ready to show the world what a great destination we are for conventions and tourism,” Milwaukee Mayor Cavalier Johnson said. “We look forward to the positive economic impact of the Presidential nomination convention, and, as the host city, I am confident all the attendees will find Milwaukee to be a splendid location for the event.”

Like most big cities, Milwaukee leans heavily Democratic. In the 2020 presidential election, Milwaukee County residents backed President Biden over Donald Trump by 40 percentage points, helping the Democrat to a narrow win in the Badger State after Trump pulled off an upset in 2016.

The winner in Wisconsin has been elected president the past four elections.

“My stance, and I think that most Democrats understand this, is that this is not a political decision, it is a business decision,” Johnson told CNN. “It will present an opportunity for us to have millions of dollars of economic impact … for us to fill our restaurants, our bars, our hotels, and to support our hospitality industry that’s been battered by COVID, of course, over the last couple of years.”

The Democratic Party has yet to announce where it will be holding its 2024 convention, but Atlanta, Chicago, Houston and New York have all submitted bids.

With Post wires

.

Categories
Business

Bupa dispute with Ramsay Health Care leaves patients in limbo

Woman with hands on table

Sick or injured Australians may have to pay more in up-front costs at hospitals as patients become a bargaining chip in negotiations between two multi-billion-dollar medical firms.

Hospital giant Ramsay Health Care formally ended its long-standing deal with private health insurer Bupa and its 3.9 million members on August 2 when the pair failed to agree on hospital costs for patients.

There is now a 60-day window, which expires on October 2, before Bupa customers have to pay more at Ramsay’s 72 private hospitals across the country.

‘I feel sorry for anyone else’

Bupa customer Liz Havriluk from Coolum on Queensland’s Sunshine Coast said she felt lucky her surgery would still be covered.

She just made the company’s deadline for her nasal surgery next month at Sunshine Coast University Private Hospital.

A sign on a building reads Bupa
Bupa customers will likely pay more if they try to be treated at certain hospitals.(ABC News: Nic MacBean)

Ms Havriluk said she felt for others who would be left with mounting hospital costs.

“Ramsay hospitals are just about all we have up here, so I feel sorry for anyone else,” she said.

Ramsay Health Care has four of the five major private facilities on the Sunshine Coast, including Noosa Hospital, Caloundra Private Clinic, Selangor Private Hospital at Nambour and Sunshine Coast University Private Hospital.

Ms Havriluk has been a member of Bupa health insurance for 22 years and her partner since 1953.

The pair pay $195 a fortnight for their cover.

Hospital with gardens
Ramsay Health owns Sunshine Coast University Private Hospital.(Supplied)

GP says patients sold ‘false promise’

Sunshine Coast Local Medical Association president Roger Faint said he was already having to comfort and advise patients in similar situations to Ms Havriluk, who were feeling lost because of the stalemate between the two giant health companies.

A man standing in a surgical waiting room
Roger Faint says patients face uncertainty in the wake of the dispute.(Supplied: Roger Faint)

Dr Faint said they could need to look further afield.

“It puts them in a difficult financial situation — where there was a certainty there’s now uncertainty,” Dr Faint said.

He said older people would be affected by the fallout.

“These people don’t want to travel to Brisbane, or they can’t travel to Brisbane because transport is difficult and they may or may not have family,” he said.

signage of hospital outside entry with person walking in background
Bupa customers with treatment booked at Ramsay Health Care facilities may have to pay more.(ABC Gold Coast: Steve Keen)

Dr Faint said patients might not realize they were affected until they became sick or injured.

“And they’ve paid their premiums which are thousands of dollars a year, in some cases for a very long time, then they can’t get the service they thought they were paying for,” he said.

“It’s almost been like a false promise as well, isn’t it?”

Hospital spat will ‘ring alarm bells’

Australia Medical Association president Steve Robson said the dispute would make people question why they should bother with private health cover.

“I think people around the country who have private health insurance are looking at this with some trepidation and saying, ‘Why are we in a situation where our health fund and our hospital can’t agree on things,'” Professor Robson said.

A man in blue medical scrubs smiles at the camera.
Steve Robson says customers will be left questioning why they bother with health insurance.(ABC News: Dave Sciasci)

He said hospitals were under pressure with staff shortages and supply issues while insurers spent less because so many surgeries were cancelled.

“I would think there’d be an enormous pressure on Bupa to actually do the right thing by the people who paid them so much money, and for them to have the care that they need,” he said.

“And I think it’s going to ring alarm bells around the country if it’s not resolved quickly.”

In statements, Ramsay Health Care said Bupa’s offer was below inflation and did not cover the increases in its costs.

Bupa said it would not accept a deal that would significantly push up premiums for its members.

Bupa said it would continue to pay some of the costs for care, even at Ramsay, but that the hospital may decide to charge more without a deal in place.

On Friday, Bupa competitor HCF confirmed it had made a five-year deal with Ramsay that “recognizes the increased costs hospitals are facing.”

Ms Havriluk said she was still facing out-of-pocket costs of $2,500 for her September surgery to address her sleep apnea, despite having gold-class membership.

“Bupa only covers only 85 per cent of the very first nasal procedure and then the other side I get 50 per cent, then 25 per cent for a third surgery,” she said.

“When you think about all the money you’ve spent, it’s pretty lousy.”

.

Categories
Technology

The Best Samsung Galaxy Z Fold 3 prices and deals of August 2022

Galaxy Z Fold 3

Rumor has it that an announcement regarding Samsung’s next generation of foldable phones is just around the corner, which means it’s a pretty perfect time to track down the best Samsung Galaxy Z Fold 3 deals.

Hefty discounts on the popular phone are becoming more and more common, and that’s a very good thing: with its $1,799.99 price tag, the cost is prohibitive for most people unless they can find a really good deal. Luckily, that’s why we’re here. Below you’ll find the best offers of the month, with everything from straight discounts to enhanced trade-in opportunities up for grabs.

With its lightning-fast performance, excellent cameras, and unique, one-of-a-kind user experience, the Galaxy Z Fold 3 was the first device to transform the idea of ​​the foldable from a gimmick into a serious phone that anyone could use . While we’re still trying to make sense of everything we know about the Galaxy Z Fold 4 so far, why not take advantage of the buzz surrounding the upcoming device and pick up a still-excellent foldable from last year.

Best Samsung Galaxy Z Fold 3 deals

Once you get your new Z Fold 3, you’re obviously going to want to keep it safe. Check out our list of the best Samsung Galaxy Z Fold 3 cases for some stylish and reliable protection.

Categories
Sports

Commonwealth Games 2022 – Australia’s team of matchwinners will take some stopping

Commonwealth Games 2022 - Australia's team of matchwinners will take some stopping

Take an inch against Australia and they’ll still win by a mile. That’s the realization other teams have come to in recent years as the depth of talent enjoyed by the reigning ODI and T20I world champions has come to bite them again and again.

In the opening match of the Women’s Ashes in January, England started brightly with an 82-run opening stand to reach 169 for 4 from their 20-over allocation. Then Alyssa Healy fell for just 7 and Australia were 26 for 1, only for Tahlia McGrath to smash an unbeaten 91 in a 144-run stand with Meg Lanning and Australia won by nine wickets. England didn’t win another match in that series, despite challenging in the drawn Test.

Against India in their opening match of the Commonwealth Games, Australia slid to 49 for 5 chasing 155 before Ashleigh Gardner and Grace Harris launched a successful rescue mission with a 51-run partnership for the sixth wicket. And when McGrath and Beth Mooney dug Australia out of trouble at 19 for 2 in their final group match to beat Pakistan by 44 runs, a key to their success was rammed home yet again – if one or two players fail, someone else inevitably steps up .

“We were in a bit of a sticky situation early,” McGrath said after the Pakistan game. “Then Moons and I both probably struggled a bit early and had to work through that. Then that sort of allowed us to have that freedom at the end and get us to what was a really good total.”

McGrath has been a revelation in T20Is, going unbeaten in four of her six innings in the format, although she said her approach wasn’t so much about valuing her wicket.

“In T20 cricket I sort of just go out there with no fear, a bit of freedom,” she said. “I get to play my shots and I know that the batters I’ve got coming in before me are world-class, that allows me to play with that freedom.

“I’ve just been lucky that I’ve had a few not-outs because it doesn’t happen very often in T20. So I’ll just ride it for as long as I can do it.”

Her partnership with Mooney has also been key, in this instance yielding 141 runs for the third wicket.

“We’re both very chill,” McGrath said. “I remember there was a game in the Gold Coast where we got caught in traffic and it was Moons and I in the car and we literally rocked up two minutes before the start of warm-up. The security guard said to us he was glad it was us two because everyone would be freaking out.

“We’ve batted a fair bit together now. I really enjoy with Moons and we both recognize when each other is struggling.”

Mooney agreed: “She’s awesome to work with. I think we’ve got a pretty good understanding of each other and each other’s games. We’re both pretty level-headed people.

“She just comes out and plays to her strengths straight away and takes some pressure off the person at the other end, so she’s a very impressive player and hopefully she can continue that form for a while yet.”

Their union against Pakistan was all the most important after Healy, the hero of Australia’s ODI World Cup triumph in April, fell for four runs, as did Lanning, the captain. In six innings since her knock of 170 in the World Cup final against England, Healy has not passed 23. But Mooney wasn’t concerned.

“She’s looking really good in the nets,” Mooney said of Healy. “Ella She’s just been a little bit unlucky. We also know that when we get into semis and finals, that she steps up and is one of the best players in the world.

“So there’s no doubt in our changeroom that she’s going to show up and do that again for us. We’re really behind her and we know that she’s got the capacity to do some serious damage against the opposition, so I’m sure she ‘ll be fine.”

With Australia having set such a high standard for themselves, Mooney warned against seeing them as “robots” in light of “a couple of low scores”.

With the ball, Australia are also in a good place. McGrath took 3 for 13 against both Pakistan and Barbados, while spinners Alana King and Jess Jonassen have been in fine form.

New Zealand are well aware of the task they face in Saturday’s second semi-final of the Commonwealth Games, scheduled to start at Edgbaston at 6pm local time, which will be 3am on Sunday in Sydney and 5am in Auckland.

Having managed just 71 for 9 in their final group game – a seven-wicket loss to England, who will play India in the other semi-final earlier on Saturday – Sophie Devine, the New Zealand captain, was keen to put their latest result behind them .

“We were well below par and it wasn’t through lack of effort or lack of planning or anything like that, I think you just get days like that,” Devine said. “It’s never nice to be a part of but we’ve got to flush it down the dunny pretty quickly and move on to something that’s actually really exciting for us, playing in a semi-final against Australia at a Commonwealth Games.”

And Devine embraced underdog status against a side New Zealand, like everyone else, knows are capable of great things.

“I think a lot of the pressure is going to be on Australia,” she said. “They’ve certainly come into this competition as favorites and hopeful of taking that gold medal whereas a lot of people didn’t think we’d maybe make the semi-finals.

“We can really take that on board and just play with a bit of freedom and take it to the Aussies. We obviously know them really well, so I think our plans are going to be pretty spot on and likewise they know us really well too It’s always just a great battle against the Australians.”

Valkerie Baynes is a general editor at ESPNcricinfo

.

Categories
Australia

Anti-corruption chief Robert Redlich calls for independent funding for IBAC

Anti-corruption chief Robert Redlich calls for independent funding for IBAC

Center for Public Integrity research director Catherine Williams said: “It is not difficult to imagine a scenario where an executive which is the subject of adverse reports is tempted to retaliate against an institution like IBAC by reducing its funding.”

loading

She said a parliamentary committee could play a role in budget decisions for IBAC, but it must be non-government dominated and report to the public.

“But the optimal model would see funding allocated by an independent funding tribunal,” she said.

She also said the current threshold for IBAC to launch investigations was an “unjustifiable limitation” to investigate soft corruption, for example pork barrelling, which is designed to divert public funding to help the private political interests of the major parties, and breaches of ministerial and staff codes of conduct which might not reach the threshold of committing an offence.

Under the current law, IBAC must have a reasonable suspicion that a relevant offense has been committed before it can launch an investigation. Redlich said this threshold must be lowered to bring IBAC in line with its NSW counterpart, the Independent Commission Against Corruption, which can investigate any allegation of suspicion of corruption, including alleged substantial breaches of the codes of conduct that govern ministers and MPs.

“Very often when it comes IBAC, whilst it’s plain enough there is unethical behavior worthy of investigation, unless the material goes so far as to substantiate or meet that threshold, we must dismiss it,” Redlich said.

Robert Redlich has flagged a suite of reforms he believes are needed to strengthen the anti-corruption watchdog.

Robert Redlich has flagged a suite of reforms he believes are needed to strengthen the anti-corruption watchdog.Credit:Jason South

“In many of our investigations, we do not find at its conclusion that a relevant offense has been committed but we uncovered such fundamental institutional failings. And that’s the importance of integrity commissions. Anything that stands in the way of that, one has got to look at very carefully.”

Although the Andrews government increased IBAC’s powers in 2016 by removing the requirement for corrupt conduct to be “serious”, and added the ability to investigate the offense of misconduct in public office, its jurisdiction remains more limited than ICAC’s.

Victoria’s IBAC would have been unable to investigate, for example, former NSW premier Gladys Berejiklian, who was probed by ICAC over whether she breached public trust or encouraged corrupt behaviour.

NSW Premier Dominic Perrottet in May announced an overhaul of funding for his state’s key integrity bodies and made them exempt from efficiency dividends applied to other government departments. However, he has stopped short of granting a request from ICAC for its funding to be made independent because of a “philosophical view” about the role of the executive.

Victorian Premier Daniel Andrews and Opposition Leader Matthew Guy are preparing to fight an election campaign on integrity.

Victorian Premier Daniel Andrews and Opposition Leader Matthew Guy are preparing to fight an election campaign on integrity. Credit:Fairfax Media

Victorian Attorney-General Jaclyn Symes said IBAC had broad powers and the resources it needed to conduct its investigations effectively.

“We’ve delivered stronger powers and record funding to further support IBAC in these investigations,” Symes said. “This funding includes an almost-doubling of what IBAC received in 2015, with this year’s forward estimates to show an annual increase of more than $31 million.”

Rules governing IBAC ensure “a balance is maintained between IBAC being able to do its important work and the proper protection of individual rights and their welfare,” she said.

loading

Shadow attorney-general Michael O’Brien said the Coalition had committed to a suite of reforms, including an additional $10 million to IBAC’s budget and giving it the powers to conduct more public hearings.

“We strongly support the IBAC having the funding and powers it needs to uncover and prevent serious corruption,” he said.

The Andrews government has been embroiled in several corruption scandals over the past eight years, including the recent joint IBAC and Ombudsman investigation, Operation Watts, which found two former Labor ministers misused public money for party-political activities.

The integrity agencies made adverse findings against former ministers Adem Somyurek and Marlene Kairouz, but stopped short of recommending criminal prosecutions, saying the law was “grey” and the duo had engaged in soft corruption.

Meanwhile, the government referred Opposition Leader Matthew Guy and his former chief of staff Mitch Catlin to IBAC this week after The Age revealed Catlin asked wealthy Liberal Party donor Jonathan Munz to make more than $100,000 in payments to his private marketing business in addition to his taxpayer-funded salary.

The Morning Edition newsletter is our guide to the day’s most important and interesting stories, analysis and insights. Sign up here.

Categories
US

Yaser Said’s ex-wife slams ‘devil’ father for ‘honor killings’ of daughters

Yaser Said's ex-wife slams 'devil' father for 'honor killings' of daughters

A Texas man on trial for murdering his two daughters in “honor killings” because they were dating American boys was called the “devil” in court Thursday by the girls’ mother, who detailed 15 years of abuse during their marriage.

Patricia Owens, Yaser Said’s former wife, had not seen him since New Year’s Day of 2008 — when he took their daughters Amina, 18, and Sarah, 17, to dinner and insisted on going alone so they could talk.

Instead, prosecutors say, Said shot the girls multiple times in the cab he drove and left them for dead outside a hotel in suburban Irving.

Owens testified that she and the girls had just returned to their home in Lewisville, Texas, from Oklahoma, where they had gone to get away from Said. She testified she knew the girls were dating — and that Said would have become enraged if he knew about it.

“I just thought he would, like, punish them, like take their phone away and stuff like that,” she said.

But long before 2008, Owens testified, she and her daughters were abused by Said. She told the jury how she married Said in 1987, when she was just 15 and he was 29. She gave birth to Amina, Sarah, and their brother Islam in the first three years of their marriage.

Patricia Owens called her ex-husband Yaser Said the "evil" for allegedly murdering their two daughters at his trial in Dallas, Texas on August 4, 2022.
Patricia Owens called her ex-husband Yaser Said the “devil” for allegedly murdering their two daughters at his trial in Dallas on Aug. 4, 2022.
Liesbeth Powers/The Dallas Morning News via AP
Said allegedly killed his two daughters Amina, 18, and Sarah, 17, in 2008 because they were dating American boys.
Said allegedly killed his two daughters Amina, 18, and Sarah, 17, in 2008 because they were dating American boys.
Liesbeth Powers/The Dallas Morning News via AP

Owens claimed she left Said multiple times during the marriage and described him as controlling.

In 1998, while living near Waco, Texas, Owens filed a report with the Hill County Sheriff’s Office accusing Said of sexually abusing the two girls. She took all three children and left him for months, before returning and telling the girls to recant their story.

“I felt scared not to go back,” Owens explained. “Yaser was abusive.”

Said allegedly shot the two girls and left them dead outside of a hotel in Irving, Texas.
Said allegedly shot the two girls and left them dead outside of a hotel in Irving, Texas.
Owens claimed Said abused her and their daughters.
Owens claimed Said abused her and their daughters.
Liesbeth Powers/The Dallas Morning News via AP

In late 2007, Owens and her daughters fled again to Tulsa, Okla., after the girls feared their father would kill them if he learned they had both become engaged to their boyfriends. Owens said Said had previously threatened Amina with a gun.

The mother and daughters returned to Texas to finish their schooling on the promise that Said would leave the family home. Even then, Amina refused to go back to the house, fearful of the repercussions.

When prosecutors asked Owens if she knew what would happen when they returned, she replied, “Part of me did. Part of me didn’t.”

Photos of Sarah and Amina Said shown at the "honor killing" trial.
Photos of Sarah and Amina Said shown at the “honor killing” trial.
Shafkat Anowar/The Dallas Morning News via AP

Earlier this week, prosecutors played a recording of a 911 call placed by Sarah after she had been shot, but was still alive.

“My father shot me. I’m dying,” Sarah said in the recording.

Said, who was arrested in August 2020 after more than a decade on the lam, has maintained his innocence and his lawyer has argued that he is being targeted by law enforcement for being Muslim in a post-Sept. 11 world.

He will serve an automatic life sentence if he’s found guilty.

.

Categories
Business

Rudi’s View: August Preview – Curve Balls, Profits & Opportunities

Rudi's View: August Preview - Curve Balls, Profits & Opportunities

rudi-views

Always an independent thinker, Rudi has not shied away from making big out-of-consensus predictions that proved accurate later on. When Rio Tinto shares surged above $120 he wrote investors should sell. In mid-2008 he warned investors not to hold on to equities in oil producers. In August 2008 I predicted the largest sell-off in commodity stocks was about to follow. In 2009 I suggested Australian banks were an excellent buy. Between 2011 and 2015 Rudi consistently maintained investors were better off avoiding exposure to commodities and to commodity stocks. Post GFC, I have dedicated his research to finding All-Weather Performers. See also “All-Weather Performers” on this website, as well as the Special Reports section.

Rudi’s View | Aug 04 2022

In this week’s Weekly Insights:

-The Non-Recession Recession
-August Preview: Curve Balls, Profits & Forecasts
-Conviction Calls
-Focus on Quality
-FN Arena Talks

By Rudi Filapek-Vandyck, Editor

The Non-Recession Recession

When is a recession not a recession?

I’ll leave the debate to the global community of economists, but needless to say the first two quarters of 2022 did not deliver the recession the US economy had to have, irrespective of the statistical outcomes for the period.

As to why US share markets simply shrugged and moved on, CIBC’s Avery Shenfeld provided the answer:

Rumors to the contrary, economists don’t define two consecutive negative quarters as a recession.

“One needs to see a material decline in a broader range of activity measures, and the key missing ingredient thus far has been in the labor market.

“There can be job-free recoveries for a while, but the very definition of a recession essentially rules out having one without job losses, let alone a recession with a hiring boom.”

When share market commentators, including myself, talk about recession coming, we’re referring to company earnings falling by -20%, or maybe by -10%. Could be zero growth, on average, or a tiny positive number.

We just don’t know yet which scenario is most likely. We might find out between now and February next year.

This year’s August reporting season is too early in the cycle to provide investors with all the answers needed.

August Preview: Curve Balls, Profits & Forecasts

If I were to put in my good-humoured attempt at an old fashioned Dad-joke, I’d start off with:

I am old enough to remember when corporate reporting season in Australia was all about profits, margins, dividends and forward-looking guidance.

It’s not as if reporting seasons in the past have never been closely intertwined with macro-geopolitical, -financial or -economic concerns, but ever since the early days of the pandemic in 2020, corporate results season in Australia has never been simply about corporate health and profits.

If it wasn’t about the virus, or societal lockdowns, the key drivers underneath share price trends have been the return of inflation followed by the normalization in global bond yields.

The power of all four has proven extremely dominant throughout the past five results seasons and ahead of August, investor consensus is for a global recession on the horizon (domestic Australia not included).

We don’t know yet about the exact timing or what will be the severity of the upcoming economic slump, but corporate results will definitely be assessed against the background of (much) tougher conditions ahead.

That is, unless central bankers declare the war on inflation is due for a pause and they stop their rigorous tightening, which adds yet another macro factor into the mix.

An end to the war in the Ukraine could be another macro catalyst, albeit an unlikely one.

****

At face value, the Australian share market looks like a bargain hunter’s paradise. The market’s average Price-Earnings (PE) ratio starts with 13x while the average dividend yield has risen to 5% on the back of sharply weaker share prices for large segments of the ASX.

The long-term average PE in Australia is 14.9x including a few years of very high valuations. Prior to those years of elevated multiples, the average PE stood at 14.5x; still a long while off from today’s multiple.

The problem with today’s average is that commodity producers are enjoying exceptionally favorable conditions, to which investors have responded with low valuation multiples (as they traditionally tend to do when confronted with peak-of-the-cycle earnings and cash flows).

BHP Group ((BHP)) shares, for example, with circa 11% the largest index weight in Australia, are trading on 7x next year’s forecast earnings per share. Shares in Rio Tinto ((RIO)) are on 7.3x. For Fortescue Metals ((FMG)) the comparable multiple is only 6.3x. The numbers look pretty similar for the large caps in the local energy sector.

Following the commodities resurgence post late-2020, mining and energy now represent the second largest group in the local index, after banks/financials.

Any experienced and astute investor knows such low PE multiples are not by default a signal of severe undervaluation; they are merely a sign that investors worry about the two years ahead. But having low PEs for such a large index constituent does depress the overall average, artificially creating the impression of a “cheaply” priced share market.

In the largest group, the banks are mostly trading on below-average multiples too; Once again showing the market is concerned about RBA rate hikes, their impact on local housing and the subsequent impact on spending and the local economy in general.

Excluding the two largest index sectors, the average PE in Australia quickly rises above 20x, which, by contrast, still doesn’t look that cheap at all.

****

The biggest problem investors are facing today is figuring out what is the correct valuation for companies that mostly have no track record in dealing with an economic recession. For multiple reasons, the brief recession of 2020 is hardly a reliable reference point.

Not making things any easier, the impact of sharply higher bond yields, tighter liquidity and high inflation on economies and companies individually has been gradual, if not slow-paced thus far this year, while supply chain bottlenecks seem to be easing and lockdowns outside China are now a thing of the past, but the pandemic is not.

Combine all of the above and August seems too early to reveal the full impact for every company on the ASX.

The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE

If you already had your free trial, why not join as a paying subscriber? CLICK HERE

Categories
Technology

What to expect at Samsung Galaxy Unpacked event 2022

What to expect at Samsung Galaxy Unpacked event 2022

What to expect at Samsung Galaxy Unpacked event 2022

video transcript

– Samsung is holding its next unpacked livestream on August 10th, and expectations are running high. The company has used previous summer events to introduce new foldable phones, smartwatches, and earbuds. And the company has effectively confirmed a repeat for 2022. Just what will appear this time around, though? Don’t worry, we’ve got you covered with what you should expect to see at Samsung’s next big event.

[MUSIC PLAYING]

It will be easy to follow Samsung’s announcements. The company is streaming Unpacked Live on August 10 at 9:00 AM Eastern. You can watch it on Samsung’s website, and there’s usually a broadcast on the brand’s YouTube channel as well. And of course, you can expect tons of coverage, hands-ons, and more from us here at Engadget.

The Galaxy Z Fold3 is nearly a year old, so it’s arguably due to an update, and Samsung’s own Unpacked teasers hint that one is coming. That said, we wouldn’t expect the Z Fold4 to represent a major overhaul. If leaks are correct, the new model will represent a refinement of the marquee foldable. Rendered images shared by OnLeaks and SmartPrix as well as Evan Blass and 91Mobiles suggest the Z Fold4 will mate the series phone/tablet formula with design elements from the S22 Ultra. You get Ultra-Like rear camera bumps and slightly tweaked dimensions, but it would otherwise be a very familiar device.

Not that we’d rule out any functional changes. According to leaker Ice universe, the Z Fold4 could have a less prominent crease, which is a good thing for everybody. Performance upgrades could be more substantial, though, if a bit predictable. Noted leaker Yogesh Brar says the Z Fold Fold4 would use the new Snapdragon 8+ Gen 1 chip paired with either 12 gigs or 16 gigs of RAM. We’re expecting to see an upgraded 50 megapixel main sensor along with a new-and-improved 16 megapixel UDC. That’s the under-display camera that goes on the Z Fold4’s main foldable display. We’re also expecting to see a 12 megapixel ultrawide sensor along with a 3x optical Zoom and a 10 megapixel selfie shooter on the front.

That said, there is a dispute over the storage. While Brar maintains the Z Fold4 will start with 256 gigs of storage, Evan Blass has discovered references to a 128 gig model. That storage question may also affect the price. While YouTuber Jon Prosser and others believe that the Z Fold4 four will reach stores on August 26, it’s not clear how much the device will cost. A 128 gig variant could lead to a lower starting price than the $1,800 price tag we saw on its predecessor. Just don’t expect higher capacities than last year when there hasn’t been any mention of storage options beyond 512 gigabytes.

As for the Z Flip4, there’s even less mystery to that one. Samsung’s teaser video for the Unpacked event very clearly shows a new version of the clamshell phone, so it’s really just a question of what the Z Flip4 will offer compared to the previous model. Don’t expect a major redesign, though. If images shared by OnLeaks and Evan Blass are accurate, the Z Flip4 looks to be a virtual carbon copy of the previous model. So you should expect a very similar rear camera setup, maybe a slightly larger exterior screen, and some new color options.

Now, that isn’t necessarily a bad thing, but it might prove a bit disappointing if you’re looking for a brand new look. The less pronounced screen creasing from the Z Fold4 might carry over too. However, the under-the-hood upgrades for the Z Flip4 might be a little bit more subtle compared to the Z Fold4 if rumors are accurate. Yogesh Brar claims the Z Flip4 would make the leap to a Snapdragon 8+ Gen 1 chip but would still feature just 8 gigs of RAM and up to 256 gigs of non-expandable storage and a 6.7 inch, 120 Hertz display.

You’d also get a larger 3,700 milliamp power battery compared to 3,300 milliamp hours on the Z Flip3 and 25 Watt charging, so the Z Flip4 might last a little bit longer. The previous phone’s dual 12 megapixel rear cameras and 10 megapixel selfie camera also look to be carried over to the new model. As for a potential release date, Samsung typically releases both versions of its new foldables on the same day, so we’re expecting to see the Z Flip4 also come out on August 26. If so, the only big question left is price. There’s no certainty that the Flip4 will stick to the previous model’s $999 price tag. However, if there is a 128 gig model, we wouldn’t expect the latest device to be much more expensive, if anything at all.

Moving on to new watches, the Galaxy Watch4 marked a revival of Samsung’s smartwatch strategy with its switch to Wear OS and a sleeker design. And it looks like the company could be eager to preserve that momentum as there are signs it’s running the Galaxy Watch5 family with a few new twists. If 91mobile’s shared renders are authentic, Samsung will drop its higher-end classic model in favor of a more modern looking, if still posh, Galaxy Watch5 Pro. You might not get the neural bezel of the previous smartwatch, but the Pro would upgrade from a steel case to a light-but-strong titanium chassis.

Samsung inadvertently hinted at the Pro name in its health app, although we haven’t seen any further clues since. The regular Galaxy Watch5 isn’t expected to be quite as big of a departure, so you should expect a very familiar minimal and fitness-oriented device similar to what we’ve seen in the past. SamMobile floated a rumor that the wristwatch could have a 10% larger battery than its [? Euro ?] counterpart, but it’s unknown if that will translate into actually improved longevity. It’s also still unclear if Samsung is going to add any new processors or any new sensors that could affect that battery life.

You may also have to pay more than you might expect. Win Future’s Roland Quant heard in June that the regular Galaxy Watch5 would start at around 300 Euros or around $306 for a 40 millimeter Bluetooth model and top out at around 400 Euros or $409 for a 44 millimeter LTE unit. For the Galaxy Watch5 Pro, because titanium is more expensive than steel and aluminum, that could bump up the price to around 490 euros or about $502 for a 45 millimeter Bluetooth model, or around 540 Euros or $552 for its LTE equivalent.

As for audio, the basic Galaxy Buds2 premiered at last year’s Unpacked. And Samsung might follow that up with a higher-end option this year. Evan Blass and 91mobiles recently posted renderings of what they say are the Galaxy Buds2 Pro. Cosmetically, the true wireless earbuds will look nearly the same as the existing Galaxy Buds Pro, which were introduced in January 2021. 9to5Google sources claim that you might get new 24-bit audio support. And there have been murmurs of a larger battery as well. Otherwise, Samsung might play it safe with familiar active noise cancellation and multi-device pairing support.

Just be ready to pay a little bit more too. A tipster who spoke to 9to5Google says that the new Galaxy Buds Pro 2 could cost around $230, which is $30 more than the previous model. Well, that still makes them more affordable than rivals like the AirPods Pro, which cost $249. You might not save much by springing for Samsung’s new in-ear headphones. As for any potential wild cards, while we wouldn’t rule out any surprises for Samsung’s Unpacked event, we’re not expecting to see any either.

There haven’t been any signs of any upgrades coming to the standard Galaxy Buds2. And because Samsung already updated the Galaxy A S-series phones this year, those don’t seem in line for any upgrades either. But what about you? Is there some dark horse device that you’re hoping to see Samsung update? Let us know in the comments below. And of course, stay tuned to Engadget for more news, hands-on, and coverage from Samsung’s Unpacked event next week.

[MUSIC PLAYING]