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NEW YORK (AP) — Baseball Commissioner Rob Manfred says there might be no major league games this year.This comes amid a breakdown in talks between teams and the players' union on how to split up money in a season delayed by the coronavirus pandemic.The league also revealed several players have tested positive for COVID-19.Two days after union head Tony Clark declared additional negotiations futile, Deputy Commissioner Dan Halem sent a seven-page letter to players’ association chief negotiator Bruce Meyer asking the union whether it will waive the threat of legal action and tell MLB to announce a spring training report date and a regular-season schedule.“The proliferation of COVID-19 outbreaks around the country over the last week, and the fact that we already know of several 40-man roster players and staff who have tested positive, has increased the risks associated with commencing spring training in the next few weeks,” Halem wrote in his letter to Meyer, which was obtained by the Associated Press.The pandemic caused the league to stop spring training on March 12, two weeks before the start of the season. On March 26, the sides reached an agreement on how to revise their labor deal to account for the virus. Hostility has escalated since then as both sides exchange offers. 1301
NEW YORK — The NYPD has suspended an officer without pay who was recorded using the bullhorn on his marked police vehicle on Saturday to shout "Trump 2020."The suspension is effective immediately without pay, the NYPD said Sunday.Brandon K Hines, who shared one of the videos on social media, said the incident occurred in the Flatbush neighborhood of Brooklyn."Trump 2020. Put it on YouTube. Put it on Facebook," the officer said as the vehicle sat at an intersection with its emergency lights on.The officer also encourages an unseen person to "take a picture" several times and called them a "tough guy." 615
NEWS: @NASA is buying lunar soil from a commercial provider! It’s time to establish the regulatory certainty to extract and trade space resources. More: https://t.co/B1F5bS6pEy pic.twitter.com/oWuGHnB8ev— Jim Bridenstine (@JimBridenstine) September 10, 2020 265
NEW YORK (AP) — Uber shares sunk even further after its disappointing stock market debut as doubts lingered over the company's ability to turn a profit and trade tensions dragged down the overall market.The ride-hailing giant's stock fell 10% and hovered around Monday afternoon on Uber's first full day of trading.The mounting losses followed Uber's disappointing initial public offering. On Friday, it took a 7 million hit — the largest loss on the first day of trading by a U.S.-based company in recent history, according to Renaissance Capital.Uber's earliest investors are still making money off the IPO, but "for late-round investors, it's possible by the time they exit they will end up with a loss," said Jay Ritter, finance professor at the University of South Florida.Among the recent big investors — and perhaps losers — is PayPal, which had disclosed plans to buy 0 million in Uber stock at the IPO price of .Uber has had no trouble convincing venture capitalists to pour money into its earlier funding rounds, but with its unclear path to profitability, it's having a more difficult time with Wall Street investors."It's clearly a high-risk, high-reward scenario. You're betting on something that may happen 10 years down the road," said Matt Kennedy, senior IPO market strategist at Renaissance Capital, a manager of IPO exchange traded funds. "Public investors are looking at profits and not seeing any, and the company's growth in the last quarter was relatively strong, but I don't think it blew anyone away."Uber's main U.S. rival, Lyft, is in a similar spiral. Its stock was trading below on Friday, down 33% from its IPO price of .It's rare to see shares in a tech company hit so hard upon going public. Over the past five years, just 10% of similar companies finished their first day of trading below their IPO price, Kennedy said.Uber's revenue last year surged 42% to .3 billion, but the company admits it could be years before it turns a profit. 2000
NEW YORK, N.Y. — President Donald Trump's former political adviser Steve Bannon was arrested Thursday morning on charges that he and three others scammed many people who donated an online fundraising scheme called “We Build The Wall.”The charges were outlined in an indictment unsealed in Manhattan federal court.Federal prosecutors say Bannon and three others “orchestrated a scheme to defraud hundreds of thousands of donors" in connection with an online crowdfunding campaign that raised more than million to build a wall along the southern border of the U.S.Along with Bannon, the other three men arrested in the case are Brian Kolfage, Andrew Badolato, and Timothy Shea. They’re each charged with one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering, both of which carry a maximum penalty of 20 years in prison.According to the indictment, the scheme started in December of 2018.To induce donors to donate to the campaign, court documents say Kolfage repeatedly and falsely assured the public that he would “not take a penny in salary or compensation” and that “100% of the funds raised . . . will be used in the execution of our mission and purpose” because, as Bannon publicly stated, “we’re a volunteer organization.”Those representations were reportedly false. In truth, prosecutors say Kolfage, Bannon, Badolato, and Shea received hundreds of thousands of dollars in donor funds from "We Build the Wall," which they each used in a manner inconsistent with the organization’s public representations.In particular, Kolfage is accused of covertly taking more than 0,000 in donations for his personal use, while Bannon allegedly used a non-profit organization under his control to receive over million from the campaign. Prosecutors say Bannon used at least some of that money to cover hundreds of thousands of dollars in personal expenses.To conceal the payments to Kolfage from "We Build the Wall," the men allegedly devised a scheme to route those payments from the campaign to Kolfage indirectly through a nonprofit and a shell company under Shea’s control, among other avenues.“They did so by using fake invoices and sham ‘vendor’ arrangements, among other ways, to ensure, as Kolfage noted in a text message to Badolato, that his pay arrangement remained ‘confidential’ and kept on a ‘need to know’ basis,” prosecutors say.Acting U.S. Attorney Audrey Strauss said: “As alleged, the defendants defrauded hundreds of thousands of donors, capitalizing on their interest in funding a border wall to raise millions of dollars, under the false pretense that all of that money would be spent on construction. While repeatedly assuring donors that Brian Kolfage, the founder and public face of We Build the Wall, would not be paid a cent, the defendants secretly schemed to pass hundreds of thousands of dollars to Kolfage, which he used to fund his lavish lifestyle. We thank the USPIS for their partnership in investigating this case, and we remain dedicated to rooting out and prosecuting fraud wherever we find it.” 3088