Categories
Business

United Airways’ shares slip as enterprise and worldwide journey stay depressed

A United Airlines plane seen at the gate at Chicago OHare International Airport (ORD) on October 5, 2020 in Chicago, Illinois.

Daniel Slim | AFP | Getty Images

United Airlines shares fell more than 5% Tuesday morning after the airline reported its fifth straight quarterly loss, and its CEO was unsure about when two key parts of the business would recover from the pandemic.

CEO Scott Kirby said the demand for long-haul and business international travel had declined by about 80% compared to 2019, depriving the airline of high-paying customers it relied on before the pandemic.

“The big question is when those two things will come back and we’re not sure when that is,” Kirby said in an interview with CNBC’s Squawk Box. He said both segments are expected to recover in the summer and the second half of the year.

The airline reported a $ 1.4 billion loss for the first quarter on Monday and said it could achieve profitability even if demand for long-haul and business international travel returns to 35% of 2019 levels.

Demand for domestic vacation travel in popular vacation destinations like beaches has surpassed 2019 levels, Kirby said.

Vacationers flying within the US have spearheaded the recovery of travel as more people are vaccinated, governments relax travel restrictions, and tourist attractions reopen. But companies still haven’t got many of their employees back on the streets, and international travel bans or quarantine requirements continue to keep many travelers closer to where they live.

“I don’t know how people find hotels,” said Kirby.

Categories
Politics

Georgia Religion Leaders to Urge Boycott of Dwelling Depot Over Voting Legislation

A grand coalition of black faith leaders in Georgia, representing more than 1,000 churches in the state, will call for a boycott of Home Depot Tuesday, arguing that the company has given up its responsibilities as a good corporate citizen by failing to accept the responsibility of the state has pushed back new electoral law.

Calling for a boycott, led by Bishop Reginald T. Jackson, who oversees all 534 African Methodist episcopal churches in Georgia, is one of the first major steps to put companies under significant economic pressure to stand up against Republican efforts in Georgia and Georgia to put across the country to impose new restrictions on voting.

“We don’t think this is simply a political matter,” Bishop Jackson said in an interview. “This is a matter of securing the future of this democracy, and the greatest right in this democracy is the right to vote.”

Mr. Jackson, Home Depot, said, “There has been an indifference, a lack of response to calls, not just from clergy, but from other groups to speak out against this legislation.”

While boycotts can be a challenge that puts significant financial pressure on large corporations, the call nonetheless marks a new phase in the struggle for the right to vote in Georgia, where many democrats and civil rights groups are reluctant to support boycotts and risk unfair collateral damage to workers of the company.

However, pointing to the use of boycotts in the civil rights movement when the rights of black voters were threatened, the Coalition of Faith leaders said their call to action was intended as a “warning shot” for other state lawmakers.

“This is not just a Georgia question. We are talking about a democracy in America that is under threat, ”said Rev. Timothy McDonald III, pastor of the First Iconium Baptist Church in Atlanta. “We must use every leverage and force we have, including our dollars, to help people understand that this is a national campaign.”

Home Depot is headquartered in Georgia and is one of the largest employers in the state. While other major Georgian corporations like Coca-Cola and Delta have spoken out against the state’s new electoral law, Home Depot has not and only made a statement this month that “the most appropriate approach for us is our conviction further emphasize that all elections should be accessible, fair and safe. “

One of the company’s founders, Arthur Blank, said in a conversation with fellow executives earlier this month that he supports voting rights even though he is not publicly involved in the fight. Another founder, Ken Langone, is a supporter of former President Donald J. Trump.

Mr Jackson said Home Depot’s religious leaders called for four specific measures: speak out against Georgia electoral law, publicly oppose similar bills in other states, offer support for the John Lewis Suffrage Bill in Congress, and assist in litigation against Georgian law.

Not all constituencies are on board with a boycott.

“I cannot fully support a boycott in Georgia,” said Aunna Dennis, executive director of the Georgia chapter of Common Cause. “The boycott hurts the person of the working class. But companies need to be held accountable for where they put their dollars. “

Faith leaders recognized the concerns of Democratic and Republican leaders about the effects of boycotts, but felt the stakes were high enough.

“It is unfortunate for those who will be affected, but how many millions will be affected if they do not have the right to vote?” said Jamal H. Bryant, the senior pastor of the New Birth Missionary Baptist Church in Lithonia, Ga.

“And so, when we weigh up, we understand, tongue in cheek, that this is a necessary evil,” said Dr. Bryant. “But it has to happen for the good to happen.”

Categories
Business

Dogecoin Merchants Push ‘Doge Day’ in Effort to Increase Its Worth

Dogecoin, a cryptocurrency that started out as a joke, now has a market value that is hard to laugh about: more than $ 50 billion. On Tuesday, Dogecoin traders attempted to raise the price to coincide with April 20 or April 20, a date linked to smoking cannabis.

The hashtags #DogeDay and # Doge420 were trending on Twitter. The price of Dogecoin, which has risen recently, fluctuated between gains and losses on Tuesday and was quoted at around 40 cents according to Coindesk. A month ago it was about 5 cents.

The effects of the boom in the crypto markets can be felt far and wide. Coinbase, the cryptocurrency exchange that went public last week and is helping to push the industry mainstream, has a market value of $ 66 billion. Central banks have stepped up their plans to research digital currencies to provide people with a safe alternative to cryptocurrencies that are beyond their control. On Monday, the Bank of England announced at the latest that it was dealing with a digital currency from the central bank.

On Tuesday morning, prices for cryptocurrencies and related stocks fell. Bitcoin’s fell 1 percent and traded just over $ 55,000. Coinbase and Riot Blockchain stocks were slightly lower in premarket trading.

Categories
Health

Finland Is Once more the World’s Happiest Nation, Report Finds

In Finland, a relatively egalitarian society, people tend not to be fixated on “keeping up with the Joneses”.

“People are often pretty good at social standards,” said Antti Kauppinen, professor of philosophy at the University of Helsinki. “That is based on the training; Everyone has access to a good education. Income and wealth differences are relatively small. “

David Pfister, an Austrian architect who lives in Oulunkyla, a suburb of Helsinki, said he would describe Finns as happy, but it was hard to tell if they were happy. “The baby has increased our happiness,” said his wife, Veera Yliniemi, a teacher. Another man in the same suburb, Janne Berliini, 49, said he was lucky enough. “I have work,” he said. “The basic things are fine.”

People in Finland also tend to have realistic expectations of their lives. But when something in life exceeds expectations, people will often act humbly, preferring a self-deprecating joke to boasting, said Sari Poyhonen, professor of linguistics at Jyvaskyla University. Finns, she said, are professionals at keeping their luck a secret.

This year’s report received little coverage in the Finnish news media. “Finland is still the happiest country in the world,” began a short article that appeared in the daily Ilta-Sanomat.

All of the top 10 countries – including the four other Nordic countries – have different political philosophies than the United States, # 14 on the list, behind Ireland and ahead of Canada. Lower levels of happiness in the United States could be caused by social conflict, drug addiction, lack of access to health care, and income inequality, said Dr. Wang.

Things are far from perfect in Finland. As in other parts of the continent, right-wing nationalism is on the rise, and unemployment at 8.1 percent is higher than the average unemployment rate of 7.5 percent in the European Union.

Categories
Business

Client merchandise gross sales jumped 9.4% to $1.53 trillion final yr

People buy toilet paper at a Costco store in Novato, California on March 14, 2020.

Josh Edelson | AFP | Getty Images

Soaring demand from the coronavirus pandemic saw sales of packaged consumer goods, which include everything from toilet paper to canned soup, surge 9.4% to $ 1.53 trillion last year, according to a new report from the Consumer Brands Association -Dollar.

But the boom in demand hasn’t let up, and the trading group said manufacturers are still struggling to catch up on their stocks. To meet this challenge, companies are hiring more workers, adding new factory lines, and raising wages in light of the continued surge in demand.

“This was the greatest test the system has ever seen,” said Geoff Freeman, chief executive officer of the CBA. “Our wildest imaginations may not have been able to imagine the 12 month climb we just went through.”

Even if the pandemic subsides, the CBA predicts that industry revenue will still increase 7.4% to 8.5% in 2021 from 2019 onwards. Sales in January are up 16% year over year which is the biggest change from last year last March. Revenue growth slowed slightly in February but was still in double digits. Prior to the pandemic, strong growth for a CPG company meant an increase in the low single digits.

“This industry is still sprinting a marathon,” said Katie Denis, CBA’s vice president of research and industry storytelling.

The surge in demand over the past year means manufacturers are still trying to catch up, and any obstacle can result in millions in lost sales. Freeman cited a conversation with a business executive who saw that more than a quarter of its manufacturing facilities were closed for a week in February because of the Texas winter storm. The blockade of the Suez Canal in March caused even more headaches.

General Mills and Clorox are among the companies that have reached out to third-party manufacturers for a temporary fix to the skyrocketing demand. The situation has led some CPG companies to rethink inventory targets and how close products are to retailers. Freeman said some manufacturers won’t be able to catch up on inventory until new investments go online.

The current stress on the supply chain is making some bottlenecks, such as the ongoing shortage of ketchup packages first reported by the Wall Street Journal, harder to predict.

“We should see something like this six to twelve months in advance,” Freeman said.

The rise in demand has resulted in higher wages for CPG manufacturing workers. PepsiCo and Hormel were among those who gave rewards to their frontline employees last year. From July to September, wages for food processing workers rose 3.4% from the same period last year, according to the CBA report. Nationwide non-farm wages fell 0.8% over the same period.

“I do not know if [wages] will rise higher than 2020 but there is no reason to believe there will be a decline, according to the companies we surveyed with McKinsey, “said Denis.

CPG companies have also increased their recruitment. After initially losing jobs in the industry, particularly among food service providers, other manufacturers of food, beverages and household products sought to attract more workers. Some companies hired 10 to 20% more workers than they actually needed to account for employees who quarantined or cared for sick loved ones, Freeman said.

Current manufacturing employment in the industry is only 2% down from January 2020, while the total employment rate in the US was 6% in March, according to the CBA report.

Categories
Entertainment

Edinburgh Festivals Will Go Forward, in Individual and On-line

LONDON – The Edinburgh International Festival, a showcase for international dance, music and theater, will take place in front of an audience this August, the festival organizers announced on Tuesday.

The festival, which usually floods the city with tourists, was canceled last year due to the coronavirus pandemic. However, the events will take place in three pavilions across Edinburgh from August 7th to 29th, Fergus Linehan, the festival’s director, said in a telephone interview.

The pavilions will be purpose built to maximize airflow and allow social distancing, he added.

The festival program will be released in June, Linehan said; The organizers are still waiting for a decision by the Scottish government on how many people will be allowed to participate. But the ongoing pandemic and the limits it has placed on international travel mean it will have a different taste than normal.

“In terms of the people on stage, we’re not going to be flying in a big dance company from the US or an opera company from Paris,” Linehan said. “But there are individual artists.”

The festival, which began in 1947 with the aim of uniting people through culture after World War II, is known for large-scale performances, especially great classical and operatic works. At the 2019 Festival, for example, the Orchester de Paris with epic pieces by Beethoven and Berlioz as well as several presentations by the Komische Oper Berlin were performed. That will change this year too. “We can’t have that many musicians on stage, and we can’t have these big choral pieces,” Linehan said, but he insisted that smaller works would be just as exciting and innovative.

Many performances are streamed for free to international audiences, he added.

Coronavirus cases have fallen rapidly in Scotland this spring thanks to an expanded lockdown and a strong vaccination program. As of Monday, only 199 new cases were reported out of a population of around 5 million people, according to the Scottish government, and there were no deaths within 28 days of a positive test.

However, there are still many restrictions, including for cultural life. Museums cannot reopen until April 26th. Other cultural activities cannot resume until May 17th at the earliest, and even then only with a small audience.

The Edinburgh International Festival is one of the many art events that usually take place in the city each summer. The organizers of the festival insist that the others will perform in some form as well.

A spokeswoman for the seedy Edinburgh Festival Fringe, which typically features thousands of small theater and comedy shows, said in an email that organizers are working towards an event for August 6-30. It is still unclear whether the edge is “digital, personal, or both,” she added.

The Edinburgh International Book Festival will also continue with face-to-face events from August 14th “if circumstances permit,” a spokeswoman said in a telephone interview.

The Royal Edinburgh Military Tattoo, a popular parade series of bagpipe performances by armed forces from around the world, also continues. It started selling tickets last October but hasn’t provided any updates since then. On Tuesday, the organizers did not respond to a request for comment.

Linehan hoped the announcement of the International Festival would give confidence to other events to move forward with the plans. His festival won’t make any money, he said, but it didn’t matter. “This is a really significant moment for us,” said Linehan, adding, “It’s really important that we perform live again.”

Categories
World News

Inventory futures combined forward of main company earnings

US stock futures rose slightly early on Tuesday morning as investors prepared for the next corporate earnings.

Dow futures rose 63 points. S&P 500 futures and Nasdaq 100 futures both traded in slightly positive territory.

The main averages fell on Monday, reflecting the general weakness in the tech sector. The Dow Jones Industrial Average lost more than 120 points, hurt by a more than 1.5% drop in Intel stock.

The S&P 500 fell more than 0.5%.

The Nasdaq Composite was the relative underperformer, falling nearly 1% as Facebook, Amazon and Microsoft all closed lower. Tesla fell more than 3% over the weekend as Bitcoin – which makes up part of Tesla’s balance sheet – fell after an all-time high of $ 64,841 on Wednesday morning, according to Coin Metrics.

The small-cap benchmark Russell 2000 fell 1.4% on Monday.

“Real estate and healthcare had another good day last week to build on outperformance and technology stocks pulled back today after a strong start into April,” said Jim Paulsen, chief investment strategist at Leuthold Group. “The US dollar’s recent decline this month has accelerated today, driving raw material prices higher, keeping energy stocks below today’s leaders.”

The first quarter earnings season got off to a good start last week, major US banks reported. Financial results exceeded expectations by 38%, while others in the S&P 500 surprised upward by 12%, according to data from Credit Suisse.

The winning season continues on Tuesday with streaming giant Netflix after the bell. Wall Street analysts expected Netflix to remain a winner in the streaming arena even as the pandemic recovery improves.

More big reports from Johnson & Johnson, Procter & Gamble and Travelers land before the market opens. CSX and Interactive Brokers publish the results after the bell.

“The bond market will continue to be the focus this week after last week’s inexplicable slump in 10-year bond yields amid surprisingly strong economic data. The 10-year return, which is back above 1.6% today, is driven by both bonds as well as stocks, traders are watching closely this week to see if the next move is back above 1.7% or if the technical level is retested below 1.5%, “added Paulsen.

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Categories
Health

Coronavirus second wave exhibits no indicators of slowing

The coronavirus crisis in India is worsening and hospitals are buckling under the increasing pressure of the second wave of infections.

The South Asian country reported 259,170 new cases and 1,761 deaths within 24 hours, according to the government on Tuesday. It is the sixth day in a row that India’s daily caseload exceeded 200,000, while the daily death toll – still comparatively low – continues to rise.

Cases have risen since February and so far India has reported more than 3.1 million new cases and over 18,000 deaths this month. The total number of cumulative cases has exceeded 15 million, making India the second worst infected country after the US.

“With the huge number of cases and the increase, we see that hospitals are really overwhelmed – and that is a challenge we must face,” said K VijayRaghavan, Chief Scientific Advisor to the Government of India, told CNBC’s Street Signs Asia. ” on Tuesday.

Hospitals reject patients because of a lack of beds – even those who are seriously ill. In some cases, unrelated patients are being forced to share beds, according to media reports. Oxygen supplies are also poor in health facilities and the government is reportedly diverting oxygen destined for industrial use for medical purposes.

VijayRaghavan said the government is trying to cope with the burden on the medical system by moving healthcare workers from one location to another and setting up emergency hospitals.

Covid facility is being prepared on April 19, 2021 at the Commonwealth Games Village Sports Complex in New Delhi, India.

Mohd Zakir | Hindustan Times | Getty Images

States are partially blocked

So far, India has resisted a second nationwide lockdown – last year’s nationwide lockdown from late March to May has disproportionately damaged the informal sector and kept India from growing.

However, states are tightening social restrictions as hard-hit places are partially closed.

The epicenter of the second wave is India’s richest state, Maharashtra, which is home to the country’s financial capital, Mumbai. The western state alone has reported over a million new cases since the beginning of April.

Maharashtra is already in a state of partial lockdown until May 1st. However, further restrictions are reportedly expected as the daily number of cases shows little sign of slowing down.

The state capital Delhi as well as India’s most populous state, Uttar Pradesh, are also among a handful of regions and states where the number of cases of Covid-19 is increasing.

Delhi initiated a six-day partial lockdown on Monday, during which only essential services are allowed to operate.

Prime Minister Arvind Kejriwal said in a virtual press conference that it would help the local government organize more hospital beds, although he is generally against a lockdown if people in Delhi stay at home and work with the federal government to increase supplies of oxygen and medicines. He begged people to watch the lockdown and not go out unnecessarily.

Other states, including Uttar Pradesh, Rajasthan, Madhya Pradesh, Karnataka, Haryana, Gujarat, Kerala, and Tamil Nadu, have also tightened restrictions, such as the introduction of curfews at night.

Extension of vaccines to other groups

The Serum Institute produces AstraZeneca’s shot, known locally as Covishield. The world’s largest vaccine maker previously said its manufacturing capacity was “very stressed” and it needed about $ 400 million to increase supply.

VijayRaghavan told CNBC that India is “fully aware that we are part of global supply chains and that there is a moral, economic and pragmatic responsibility to do what we need for our people and what we need to balance our responsibilities elsewhere bring. And we’ll meet. ” both.”

India recently approved a third emergency vaccine – Sputnik V, which is being developed in Russia. It also approved overseas-made vaccines that received emergency approval from the agencies listed in the US, UK, European Union, Japan, and World Health Organization-listed agencies.

Categories
Business

Tribune indicators a choice for a sale to a New York hedge fund.

Tribune Publishing announced Monday that talks about the sale to Newslight, a company founded last month by hotel manager Stewart W. Bainum Jr. in Maryland and Swiss billionaire Hansjörg Wyss, had ended after Mr Wyss split had withdrawn from a planned offer Friday.

Tribune Publishing’s special panel that evaluates bids said in a press release on Monday that the Newslight plan could no longer “reasonably” result in a “superior proposal” than the binding agreement the company made with Alden Global Capital in February had a New York hedge fund. (An earlier version of this article incorrectly stated that the agreement was non-binding.)

Mr. Bainum and Mr. Wyss were blown up last month with a $ 18.50 per Tribune share proposal, beating Alden’s offer of $ 17.25 per share.

The road to a deal with Mr. Bainum, CEO of Choice Hotels, one of the world’s largest hotel chains, is not completely blocked.

In a letter on Saturday, Mr Bainum briefed the Tribune Board of Mr Wyss’ exit from a potential business, adding that after reviewing the company’s finances and discussing a possible arrangement with other potential donors, he is continuing a proposal at a price of Felt committed to $ 18.50 per share.

“I remain confident that there is significant interest in joining this effort and expect the necessary arrangements between one or more additional equity funding sources to be swiftly completed,” Bainum wrote in the letter. He declined to comment on this article.

The Tribune Special Committee said in its statement on Monday that it would “consider carefully any further developments to determine the course of action that is in the best interests of Tribune and its shareholders, subject to the provisions of the Alden Merger Agreement”.

The committee added that, following an earlier recommendation, its board of directors would advise the company’s shareholders to vote for the Alden deal.

Tribune, publisher of The Chicago Tribune, The Baltimore Sun, The Daily News and other newspapers in major cities across the country, has been the target of Alden, its largest shareholder, since last year.

As Alden is known for cutting costs on the 60 or so daily newspapers it controls through its subsidiary MediaNews Group, journalists from Tribune Publications welcomed the surprising entry of Mr Bainum and Mr Wyss into the tender. Alden has said that it allows newspapers that might otherwise find themselves in a tough line of business to stay in business.

Tribune shareholders are expected to vote on a buyer this summer after the board officially approves an offer.

Categories
Politics

Jury begins deliberating in Derek Chauvin homicide trial

Former Minneapolis Police Officer Derek Chauvin and his defense attorney Eric Nelson attend the final confrontation during the Chauvin’s trial for second degree, third degree and second degree homicide in the death of George Floyd with his defense attorney Eric Nelson in Minneapolis, Minnesota , part. US April 19, 2021 in a still from video.

Reuters

Prosecutors and the defense advanced their final arguments to the jury on Monday in the murder trial of Derek Chauvin, the white ex-police officer who was accused of killing George Floyd last May.

The anonymous, multiracial jury can now deliberate until a unanimous verdict is reached.

Violent police violence against black men broke out in Minneapolis and elsewhere.

“You can believe your eyes,” Prosecutor Jerry Blackwell told the jury. A video of Chauvin with his knee to Floyd’s neck was a central aspect of the prosecution.

“Why is it necessary to continue to lethally restrain a man who is defenseless, who is handcuffed, who does not resist, who does not breathe, who has no pulse?” Blackwell added.

“It was like he was in a truck. It was like being squeezed into a truck,” said prosecutor Steve Schleicher.

Schleicher pushed back the defense’s arguments that Floyd died as a result of his underlying health conditions and drug use.

“You don’t have to believe the amazing coincidence that after this nine-minute restriction of 29 seconds, Floyd” chose this moment to die of heart disease, “said Schleicher.

Eric Nelson, Chauvin’s attorney, began his arguments to get the jury to think deeply about whether Chauvin was acting within the law.

“The standard is not what the officer should have done in the circumstances. It is not what the officer could have done otherwise,” Nelson said.

Nelson said the standard was what a reasonable officer would do in any circumstance he or she faces.

“All the evidence shows that Mr. Chauvin thought he was following his training,” said Nelson. “There is absolutely no evidence that the officer chauvin intentionally and deliberately used unlawful violence.”

The case is the best-known litigation involving a white officer accused of killing a black man in recent years.

Immediately after the arguments concluded, Nelson asked Judge Peter Cahill to issue a mistrial, citing comments from Rep. Maxine Waters, D-Calif. Waters called on protesters on Saturday to “become more confrontational” if the jury concludes that they are not guilty.

Cahill turned down a lawsuit but said, “I give you that Congressman Waters may have given you something on appeal.”

“I wish elected officials would stop talking about this case, especially in ways that do not respect the rule of law, the judiciary or our role,” said Cahill.

White House press secretary Jen Psaki was briefed on the case during a press conference Monday afternoon. Psaki declined to say whether President Joe Biden would be personally disappointed if Chauvin was found not guilty.

The final arguments put forward two very different versions of what happened on May 25, the day Floyd died after Chauvin and other Minneapolis police officers tried to arrest him on suspicion of passing a forged bill.

The Floyd family and Reverend Al Sharpton gesticulate as they arrive at the Hennepin County Government Center to finalize testimony on the trial of former police officer Derek Chauvin, charged with the murder of George Floyd in Minneapolis, Minnesota, USA in April 19, 2021.

Nicholas Pfosi | Reuters

Prosecutors and their experts have told the jury that Chauvin killed Floyd by cutting off his airway with the police officer’s knee while the black suspect was handcuffed and pegged to the floor for about 9 minutes.

During the trial, they made extensive use of video footage recorded by bystanders showing Floyd pleading for his life and telling officers he could not breathe.

The prosecutor also called Dr. Martin Tobin, a pulmonologist and respiratory science expert, who testified that Floyd had died of a lack of oxygen.

“A healthy person exposed to what Mr. Floyd was exposed to would have died,” Tobin told the jury.

Schleicher relied heavily on Tobin’s earlier statements in his final arguments.

“It was very clear that George Floyd died of low oxygen levels,” he said.

The indictment was led by Matthew Frank, an attorney with the Minnesota Attorney General. Two other prosecutors, Schleicher and Blackwell, shared the final arguments.

The defense led by Nelson argued that Floyd died as a result of the large amount of the drug fentanyl that he was taking prior to his arrest in addition to his underlying medical problems. An autopsy also found methamphetamine in Floyd’s system.

Nelson also tried to label the crowd of spectators who were there on May 25 as a threat to the arresting officers and to make their work more difficult. He has argued that Chauvin’s knee may not be on Floyd’s neck, but rather was on his back.

Nelson also highlighted obvious discrepancies between the prosecution’s arguments and Dr. Andrew Baker, Hennepin County’s medical examiner, who performed Floyd’s autopsy.

Baker ruled Floyd’s death was murder, but did not establish that the cause of death was asphyxiation or lack of oxygen as prosecutors alleged.

“The sub-dual law enforcement, reluctance, and neck compression were simply more than Mr. Floyd could endure due to this heart condition,” Baker said.

Dr. David Fowler, a former Maryland chief medical officer called on by the defense, testified that carbon monoxide fumes from a nearby vehicle may have contributed to his death in addition to his enlarged heart, high blood pressure, and drug use.

Chauvin has been charged with second degree murder, third degree murder, and second degree manslaughter. Each of these allegations requires prosecutors to show that chauvin was a “major contributing factor” to Floyd’s death.

Second degree murder is sentenced to a maximum of 40 years in prison. Third degree murder is 25 years maximum and manslaughter charges are 10 years maximum. Actual penalties are often below the legal maximums.

Jurors are instructed that if they have reasonable doubts about Chauvin’s guilt, they must not vote guilty. A unanimous jury is required to convict any of the cases.

The jury consists of 14 people, including two deputies who can be dismissed before the deliberations. The diverse group consists of two multiracial women, three black men, one black woman, six white women, and two white men.

The trial comes as tensions are high. On April 11, while the clashes were ongoing, police officer Kimberly Potter Daunte Wright, a 20-year-old black man, fatally shot and killed during a traffic obstruction in nearby Brooklyn Center and sparked protests.

Potter stepped back, claiming she thought she was using a taser. She was charged with second degree manslaughter.

– The Associated Press contributed to this report

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