Categories
Politics

SPAC pulled, bail listening to in UAE case modified

Thomas Barrack, Executive Chairman and CEO, Colony Capital, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 28, 2019 in Beverly Hills, California.

Michael Kovac | Getty Images

A federal judge in Los Angeles on Friday ordered the release on a $250 million secured bond of Thomas Barrack, the private equity investor charged with illegally lobbying his close friend ex-President Donald Trump for the United Arab Emirates.

The order requires the release bond — which is among the highest ever set in the world — to be secured by $5 million cash, another $21.23 million in securities and Barrack’s home in California.

Barrack and his co-defendant Matthew Grimes, a 27-year-old business associate, had been in jail since Tuesday, when they were arrested in Los Angeles on an indictment issued in Brooklyn, New York, federal court.

Grimes earlier Friday was ordered released on a $5 million bond. Neither he nor Barrack were in court before Judge Patricia Donohue, having waived their right to appear.

Donohue ordered Barrack to surrender his passport, to be fitted with an electronic bracelet, and be subject to GPS monitoring and a curfew.

Barrack also was ordered to stay in the company of his lawyers until at least his and Grimes’ arraignment Monday in Brooklyn.

He also cannot transfer any funds overseas, is barred from transferring more than $50,000 except for attorneys fees, and is prohibited from trading securities without written permission from prosecutors. His travel is restricted to the federal Central District of California, and to the Southern and Eastern districts of New York, which encompass New York City, Long Island, and several counties to the north of the Big Apple.

Barrack was identified as a billionaire on the Forbes richest list in 2013, but since then has not appeared on that roster.

Earlier Friday, Falcon Acquisition, a special purpose acquisition company backed by Barrack, told the Securities and Exchange Commission it is withdrawing its registration statement with the agency “because the company has elected to abandon” planned transactions.

The transactions had included an initial public offering of 25 million shares to raise $250 million for Falcon Acquisition, which was formed by Barrack’s family office Falcon Peak, and TI Capital.

Falcon Acquisition, which had planned to list its shares on the New York Stock Exchange, had said it was targeting tech-driven businesses as candidates for mergers.

A lawyer for Falcon Peak did not immediately respond to a CNBC request for comment. 

Barrack and Grimes originally were due to have their bail hearing in Los Angeles on Monday.

But that was moved up to Friday after prosecutors reached a deal on bail conditions with defense lawyers.

Prosecutors earlier in the week had asked at Barrack’s first court appearance in LA on Tuesday that he be detained until at least he appears in court in Brooklyn for another hearing because of the risk that he could flee to avoid facing the charges. Barrack holds Lebanese citizenship and has a private jet.

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Barrack, who was chairman of Trump’s 2017 inauguration fund, is accused with Grimes and UAE national Rashid Sultan Rashid Al Malik Alshahhi of secretly advancing Emirates’ interests at the direction of senior officials of the oil-rich Gulf country. Prosecutors said the three influenced the foreign policy positions of Trump’s 2016 campaign, and continued that effort during Trump’s presidency through April 2018.

Barrack also is charged with obstruction of justice and making multiple false statements during a June 2019 interview with federal law enforcement agents.

The indictment noted that Barrack at the same time informally advised American officials on Middle East policy, and sought appointment to a senior role in the U.S. government, including as special envoy to the Middle East.

Alshahhi, 43, remains at large.

Barrack stepped down last year as CEO of Colony Capital, a private equity firm he founded, and as its executive chairman in April.

Categories
World News

Inventory futures are little modified because the S&P 500 appears to be like to carry on to report

Futures contracts, which are pegged to the major US stock indices, changed little on Monday after the S&P 500 posted its best week since February and a new record on Friday.

Futures pegged to the S&P 500 hovered around the flatline and those pegged to the Dow Jones Industrial Average fell 17 points. Nasdaq 100 futures rose 0.2%.

A massive, bipartisan infrastructure deal appeared to be resurrected on Sunday evening after President Joe Biden made it clear on Saturday that he would not veto the bill if it comes without a separate Democrat-favored reconciliation bill. Republican senators then said on Sunday that the deal can move forward.

The president, flanked by a bipartisan group of senators, said Thursday that after weeks of negotiations, the group had reached a billion-dollar deal to improve the country’s roads, bridges, waterways and broadband. Democrats are pushing for a second bill that would include funding for issues such as climate change, childcare, health care and education.

Caterpillar stocks were higher in the pre-trading session and should add to their gains last week.

“The bipartisan infrastructure deal negotiated in Washington DC last week seems to have a chance of becoming a reality,” wrote John Stoltzfus, chief investment strategist at Oppenheimer Asset Management, in a press release. “This program could serve the country in the short and long term in job creation, economic growth, corporate sales and profit growth, and US ability to compete with other nations in the relatively new but hypercompetitive twenty-first century compete.”

Stocks had their best week in months on Friday as investors become more confident that current US inflation is not a persistent economic threat, but rather a temporary upward trend.

The S&P 500 finished Friday with a record high of 4,280.70 while the Dow rose 237.02 points, less than 2% off its record high. While the Nasdaq Composite closed slightly lower on Friday, it rose 2.35% for the week, its best since April 9, and rose 4.45% for the month of June.

The weekly gains even came after the Commerce Department reported that the inflation indicator rose 3.4% in May, the fastest increase since the early 1990s.

Spikes in the core consumer spending index can cause heartburn among investors as the Federal Reserve likes to watch it for signs of inflation. Still, the increase actually fell short of what economists polled by Dow Jones had forecast, and reaffirmed for investors that macroeconomic price increases are likely to be temporary and manageable.

The next key economic data is the June job report that the Department of Labor is slated to release on Friday.

Economists expect the number of non-farm workers to have increased by 683,000 in June. While such a robust figure would top 559,000 in May, it would still be below the 1 million some had hoped a US economy could see a rebound after the Covid-19 crisis.

Investors will also check the June report for signs of wage inflation as employers struggle to find workers to fill positions and pandemic-era unemployment benefits run out in some states.

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Categories
World News

America Might Be ‘Again’ in Europe, however How A lot Has Actually Modified?

FALMOUTH, England – Few pictures have captured the rupture of the transatlantic relationship better than that of President Donald J. Trump in 2018, arms crossed over his chest, as he saw Chancellor Angela Merkel and other frustrated leaders in their doomed endeavors the rescue of their summit resisted in Canada.

When the same leaders meet again in Cornwall, England on Friday, President Biden will reverse body language and replace stagnation with hug. But below the pictures, it’s not clear how much more open the United States will be to Europe than it was under Trump.

The transatlantic partnership has always been less reciprocal than its proponents like to claim – a marriage in which one partner, the United States, held the nuclear umbrella. Now that China is overtaking the Soviet Union as America’s arch-rival, the two sides are less united than they were during the Cold War, a geopolitical shift that exposes longstanding tensions between them.

At the reunification of the group of 7 industrialized nations on Friday, the question arises: will this expression of solidarity be more than a diplomatic pantomime – reassuring for Europeans who are traumatized by Trump’s “America First” policy, but have to disappoint them if they do realize that? does the United States go its own way under Mr Biden?

“America’s foreign policy has not fundamentally changed,” said Tom Tugendhat, Chairman of the Foreign Affairs Committee in the UK Parliament. “It’s more collaborative and inclusive, but essentially it’s the same.”

“Like all leaders,” he added, “Biden puts his own country first. How he achieved this distracted many. “

Few Europeans question the sincerity of his efforts. Even more than his former boss, Barack Obama, Mr Biden is an Atlanticist who has been involved in European affairs from the Balkans to Belfast for decades.

On Thursday he and Prime Minister Boris Johnson presented a new Atlantic Charter based on the post-World War II draft signed by Franklin D. Roosevelt and Winston Churchill.

In their first face-to-face meeting, Mr Biden and Mr Johnson each projected unity, each promising that his country would provide hundreds of millions of doses of vaccine to the developing world.

“I will not contradict the President in this or anything,” said Mr Johnson after Mr Biden said that both he and the newlywed Prime Minister “got married over our station.”

But the president has made China the guiding star of his foreign policy more aggressive. While American officials seek European support for these efforts, analysts said their expectations are limited given the commercial interests of Germany and other countries and the fact that Ms. Merkel and other Europeans showed no appetite for a new Cold War with Beijing.

“The Biden administration is determined to be courteous, determined to hear them, and then they will do whatever it was up to,” said Jeremy Shapiro, who worked at the State Department during the Obama administration and is now the European Council’s director of research for foreign relations in London.

“It doesn’t matter what US policy is towards Europe,” said Shapiro, summing up the prevailing opinion in the government. “We’re going to get the same amount out of them in China.”

The skepticism goes in both directions. Many European officials view Mr. Biden’s statement that “America is back” with a yellowish look, even if it is well-intentioned, in the face of the attack on the US Capitol and other threats to American democracy, not to mention Mr. Trump’s iron influence on the Republican Party.

“We live in an era of loss of confidence,” said Wolfgang Ischinger, a former German ambassador to the United States who chairs the Munich Security Conference, at which Biden was a regular speaker.

The Germans used to think that the transatlantic alliance didn’t care much whether the president was a Democrat or a Republican. Now Ischinger said: “For the first time in 70 years we are confronted with a new question: What happens when a resurrected Trump appears on the stage?”

White House officials have carefully choreographed Mr Biden’s trip to make it a summer festival of Alliance repair. But back in Washington, analysts say its staff moves show a marginalized role for Europe.

Biden in Europe

Updated

June 10, 2021, 8:08 p.m. ET

The White House has appointed prominent officials to coordinate Indo-Pacific and Middle Eastern politics in the National Security Council. There is no equivalent for Europe, nor has the government made diplomatic appointments such as a NATO ambassador or an envoy for Northern Ireland.

Mr Biden has welcomed the leaders of Japan and South Korea to the White House, but has not yet welcomed a major European leader.

On the eve of his visit to the UK, a senior American diplomat spoke bluntly to Johnson’s chief negotiator for Brexit about how the UK is handling tensions over post-Brexit trade deals in Northern Ireland.

There is a similar sense of limited expectations of Russia on both sides, even if Mr Biden meets President Vladimir V. Putin in Geneva next week. Washington-Moscow relations quickly deteriorated in the early months of the administration as the United States faced a Russian hacking operation, evidence of continued Russian interference in the 2020 presidential campaign, and Putin’s masses of troops on Russia’s border with Ukraine.

Russia’s arrest of opposition leader Aleksei A. Navalny three days before Mr Biden’s inauguration set the tone for tensions to come.

Far from the “reset button” that Mr. Biden announced during his tenure as Vice President of Mr. Obama in 2009, his meeting with Mr. Putin appears to be primarily aimed at suppressing tensions with what is usually a divided Russia, so that both sides can use it avoid conflicts that could disrupt Mr Biden’s domestic political agenda.

Given what analysts are saying, Mr Putin’s calculation is that Russia will benefit from instability by sowing, they question how successful Mr Biden will be. Europe’s proximity to Russia – and Germany’s dependence on its natural gas – means that instability would pose a greater threat to Europe than it does to the United States.

“The problem with China is that it’s not our neighbor, it’s the US neighbor,” said Robin Niblett, director of Chatham House, a think tank in London. “Russia is Europe’s neighbor, and that reality complicates it, but only to the extent that the US wants to raise the temperature.”

The government’s zigzag course on Nord Stream 2, a gas pipeline that runs from Russia to Germany, has left some in Europe scratching their heads. Foreign Minister Antony J. Blinken said Mr. Biden publicly rejected the pipeline as a “bad idea”. But Mr Blinken recently declined to impose sanctions on those behind the $ 11 billion project, saying its conclusion was a “fait accompli”.

The reversal on the eve of Mr Biden’s European tour seemed designed to avoid a break with Germany, a critical ally. But in Britain, which is cracking down on Russia tougher than Germany, some officials said they were concerned that the decision would encourage Mr Putin and weaken Ukraine’s eastern border.

While the transatlantic differences with China are substantial, officials on both sides say Europe is gradually moving in Mr Biden’s direction. The European Parliament held up the ratification of a landmark investment treaty between Brussels and Beijing last month. This followed Beijing’s sanctioning of ten European Union politicians in what Europeans thought was an exaggerated reaction to the sanctions China had imposed for imprisoning Uighur minorities in Xinjiang.

The UK has leaned on the US on China, restricting Chinese telecommunications giant Huawei’s access to its 5G network. However, analysts warn that the change is motivated less by a change of heart about Beijing than by a desire not to get out of step with its most important ally after Brexit.

Some in Europe argue that Mr. Biden’s China policy is not fully worked out, noting that there was no shortage of diplomatic pantomime at Mr. Blinken’s stormy meeting with Chinese officials in Alaska in March.

Europe’s views could also develop further with the departure of Ms. Merkel, who firmly believes in a commitment to China, after 16 years in office and with French President Emmanuel Macron, who faces a difficult election campaign next year.

“The EU’s position on China has hardened over human rights issues,” said Simon Fraser, a former senior official in the UK Foreign Office. “I suspect there is a lot in common, even if different national interests come into play.”

Still, some Europeans have been put off by the way Mr Biden has portrayed competition with China in stark ideological terms – a fateful battle between democracy and autocracy in which the autocrats could win.

For leaders like Ms. Merkel, whose land sells millions of Volkswagen and BMW in China, the relationship is driven by trade and technology, not a possible military clash in the South China Sea.

“There’s a profound psychological problem at play,” said Thomas Wright, director of the Center on Europe and the United States at the Brookings Institution in Washington. “Some Europeans believe the US is too nostalgic for the Cold War and too ready to return.”

These are, of course, the early days of Mr Biden’s presidency. Analysts said he had recalibrated his message on China and Russia two months ago when he told Congress that Chinese President Xi Jinping believed that “democracy cannot compete with autocracies in the 21st century.”

Charles A. Kupchan, a Georgetown University professor who worked in the Obama administration on European affairs, said Mr Biden’s goal was to prevent the creation of a Sino-Russian bloc against the West. That requires the help of allies, which is why he predicted that Mr. Biden would not only listen to Europeans, but would also listen.

“This attempt to find geopolitical dividing lines will not find much support from the American allies,” said Kupchan.

Mr Biden appears to be sensitive to these concerns. In a column in the Washington Post last Sunday in which he outlined his travel destinations, he refrained from militant references to an autocratic China. Instead, he wrote about whether the United States and its allies might face a poor challenge: “Can democracies come together to deliver real results for our people in a rapidly changing world?”

Categories
Entertainment

Was 1971 the Yr ‘Music Modified Every thing’?

Everything changed with the music of 1971. No, wait. It was 1973. Check if – 1974 was the year, except it was music, film, and television but only in Los Angeles.

If you’re writing a book or adapting one for television, you could do worse than picking a specific year as your organizational principle. This is especially true when you’re dealing with the tumultuous early 70s, when pop culture went up in flames and then regularly rose again.

The last to take on this challenge are the makers of “1971: The Year That Music Changed Everything”, based on the David Hepworth book “Never a Dull Moment: 1971 – The Year That Rock Exploded”. The eight-part documentary series, which was fully released on Apple TV + last week, offers plenty of evidence that their human subjects are as convinced of the premise as they usually are. “Music said something,” says Chrissie Hynde of the opening credits; “We created the 21st century in 1971,” says David Bowie.

But as difficult as it may be to avoid boomer bias – after all, a sense of generational self-esteem is anchored in the premise – it is perhaps even more difficult to limit the scope of such efforts to a single year: Did the music of 1971? really change things than ’72? What would 1969 say about that? How can you even start making the case?

“Sometimes you have to make a bold statement,” said Asif Kapadia, the series’ overall director and one of the executive producers, on a video call from London. “Our research revealed something amazing about this particular moment when it comes after the 60s, when it comes as a turning point in relation to the 70s.”

The series brings together so many captivating clips and stringing together so much recent history that it is hard to deny the results whether you buy the premise or not.

In 1971 Marvin Gaye transformed the protest song with the sublime “What’s Going On”; the Rolling Stones pounded on their raw classic “Exile on Main St”. (and copious amounts of heroin) in a rented villa in the south of France; Aretha Franklin showed her public solidarity with the imprisoned black activist Angela Davis; and David Bowie wrote the book on rock ‘n’ roll androgyny.

It was also a remarkable coming-out year for female artists. Carole King, who split from husband and songwriting partner Gerry Goffin in 1968, released Tapestry in 1971 and Joni Mitchell released Blue after her relationship with Graham Nash ended. These weren’t just great albums; there were also personal expressions of independence, resounding screams of defiance and vulnerability in a world that was still often male.

But life just doesn’t organize itself in 12 month periods, even if books and TV series dictate it. No project of this kind could provide the right context without spending time, for example with the Manson family massacre and the Altamont, California disaster in which four people died in a free concert with the Rolling Stones headline – two events from 1969, which signaled the end of the flower power era. The Kent state shootings of 1970 were another such trailblazer that helped set the table for the mood and music to come.

Even if it digresses from 1971, this is top notch cultural history with a killer beat. Sometimes you bend the rules a little.

Think Bowie, who has the last word on the series. The Man Who Sold the World was released in 1970 in the United States, but in 1971 in Bowie’s native England. He recorded the majority of “The Rise and Fall of Ziggy Stardust and the Spiders From Mars,” which is the highlight of the series, in 1971, but the album was released in 1972. Similarly, the Stones recorded most of “Exile” in this mansion in ’71, but they ended it in ’72, the year the album was released.

“We had a very basic rule that it had to have a very strong footprint in 1971,” said Danielle Peck, the series producer who directed four of the episodes. “It could start in 1969 and end two years later. But most of the event had to be felt in ’71 because we had to have a way to filter out all of these amazing stories. “

Of course, you can remove any ambiguity by adopting subjectivity. Pointing out that he turned 21 in 1971 – and that we probably all consider this personal milestone special – Hepworth doubles in his book: “There is an important difference between me and 1971,” he writes. “The difference is this. I am right.”

At least he thinks he’s right. When Ronald Brownstein, Senior Editor at The Atlantic, decided to celebrate a year, he chose 1974 and decided to include music, film and television. He also limited his geographic focus to the entertainment hub, Los Angeles, which was much more sleepy then than it is now.

The resulting book “Rock Me on the Water: 1974 – The Year Los Angeles Transformed Movies, Music, Television and Politics” is a strong argument. Brownstein saw ’74 as the end of an era.

“Losing LA’s cultural supremacy has made a far greater change in American life,” he writes. “The most memorable works of Los Angeles in the early 1970s – from ‘Chinatown’ to ‘All in the Family’ to Jackson Browne’s great album ‘Late for the Sky’ – emerged from the collision of 1960s optimism with growing cynicism and pessimism of the 70s. “

But let’s play the devil’s advocate for a moment with “1971”. What if Hepworth’s Certainty is Justified? What if 1971 is really the be-all and end-all of rock and pop, and not just a year of a lot of cool music coming out? What if “I’m right” isn’t arrogance but accuracy?

A list of 1971 publications is certainly daunting. In addition to those already mentioned, there was Black Sabbath’s “Master of Reality”; Cans “Tago Mago”; the “LA Woman” of the Doors; Aretha Franklin’s “Aretha Live at Fillmore West”; “Led-Zeppelin IV”; John Lennon’s “Imagine”; Bill Withers “Just As I Am”; and Sly and the Family Stones “There’s a Riot Goin ‘On” to start with.

Not bad, says 1972. But look here: Nick Drake’s “Pink Moon”; Curtis Mayfield’s “Superfly”; Lou Reed’s “Transformer”; the Staple Singers’ Be Altitude: Respect Yourself and so on.

Quality is in the ear of the beholder – only the writer Andrew Grant Jackson has depicted the meaning of the years 1965 and 1973 in book length – and to his credit, “1971” is aware of this. At best, it avoids the album checklist game that takes up the source book in favor of a decisive cultural history.

It shows the uprising in the prison in Attica and his statements about racial incarceration discrepancies and the conditions of detention in general. It deals with the obscenity allegations made by the British government against Oz, an underground magazine that sparked outrage when 20 teenagers published a special “schoolchildren” issue. (Among the publication’s loudest defenders: John Lennon and Yoko Ono.)

It was a time of social upheaval, not just great music. But they were encouraged by the music, by the empowerment of women and African American and gender warriors. Was 1971 the gold standard for pop, rock and soul? Any answer would be steeped in subjectivity. But it was absolutely a step out of the 60s into a hectic new era, difficult to define but rich in conflict and opportunity.

“I’m sure different people have different arguments,” Kapadia said, “but our point was that at that moment, with the end of the Beatles and the start of other artists, something special happened, who then create what we see now can. “was the music of the future.”

When you see 1971, it’s probably best not to worry if it was “the year music changed everything”. Perhaps it is enough just to appreciate the era and its soundtrack without checking the title.

Now let’s take a look at which albums came out in 1975.

Categories
Business

How the Pandemic Modified Sabine Roemer’s Jewellery Enterprise

LONDON – disturber, fixation, opportunity. The pandemic was all of that and more for jewelry fans and designers.

Just ask Sabine Roemer.

The German-born designer has two brands: the high jewelry line that bears her name (one-offs priced at £ 10,000 or around $ 14,095) and Atelier Romy, which has trendy pieces like stackable chain necklaces and ear-party studs Sold online for £ 50 to £ 500.

And now with England easing restrictions, both lines are evolving into direct-to-consumer businesses – more closely tied to their own identities as artisans.

“The workmanship is absolutely evident in everything Sabine does,” said Marisa Drew, a senior investment banker in London who has jewelry from both brands from Ms. Roemer. “There is always personality in her pieces, and she really approaches her designs with a story in mind.”

Ms. Drew said she likes Ms. Roemer’s convertible designs and her attention to detail, traits that resonate with Sarah Giovanna, a director of a private equity firm in London.

“She sits down with you and really creates something that suits you. For me, it’s all about flexibility, ”said Ms. Giovanna, who also carries both lines. “I work in a high-intensity environment and deal with large companies. I want pieces that I can dress up and down. Both brands deliver that. “

However, last year’s lockdown was “a moment of pause,” Ms. Roemer said, especially for Atelier Romy, which was only three years old when the pandemic broke out.

“I was forced to look at every single aspect of the business and not just trust others,” said the 41-year-old designer, admitting that she had focused on creation and clients. Suddenly, she couldn’t just help clients come up with tall jewelry like a pair of diamond and pearl earrings with 17-carat citrines or work on a philanthropic collaboration like the jeweled reproduction of a postage stamp she made for the Queen Elizabeth Scholarship Trust was created in 2017 to celebrate the Queen’s 65th anniversary on the British throne.

In March 2020, Ms. Roemer canceled her freight forwarder. She wasn’t entirely satisfied with the service and decided that it should be done in-house. “I packed, I shipped, and tied the ribbon around each box,” she said. “I had to learn everything – my accountant joked that it was like McDonald’s where you start in the kitchen and work your way up.” (A handwritten card is now included with every order.)

Ms. Roemer and her team also focused on Atelier Romy’s social media presence, creating stronger digital content and graphics that highlighted Ms. Roemer as the maker behind the jewels. She wouldn’t share sales numbers, but Ms. Roemer said buyers must have liked the changes as sales quintupled.

It’s the kind of online marketing that’s going to stay here, said Juliet Hutton-Squire, director of global strategy at Adorn, a jewelry market intelligence company.

When consumers couldn’t spend on travel, they spent more on luxury goods and capital goods. Fashion brands were well positioned to generate these revenues thanks to their early investments in digital media. “Brands with online presence or shop-able content on social media were even further ahead of the curve when cell phones became our way of shopping,” said Dr. Hutton-Squire explained. “It will just go on like this. We will not return from it. “

In many ways, Ms. Roemer’s early career, which began as a 15-year-old goldsmith apprentice in Germany, has now led to her role as a businesswoman and jeweler.

Making jewelry, she said, is not just about “tools, craft and creation” as she once imagined. “You quickly realized that you also have to be good at physics and mathematics, chemistry and chemistry. Fortunately, those were my favorite subjects at school. “

Atelier Romy trained her math brain even more. “I love data,” she said. “I find it fascinating to sit in lockdown at home and just look at data and who comes into the virtual shop.”

After graduating from Pforzheim Goldsmith and Watchmaking School in Germany, Ms. Roemer joined Stephen Webster, a London designer whom she admired as “a craftsman and not just a designer”.

Further work for other houses on Bond Street followed, as well as orders from private customers – the early 2000s became a golden era for Ms. Roemer’s high jewelry career. Her philanthropic work has also been recognized, particularly some custom-made items she made in collaboration with the Nelson Mandela Foundation, such as a gold, diamond and emerald bangle with the South African President’s prison number on it. Morgan Freeman wore the piece at the 2010 Oscars as a nominee for Best Actor for “Invictus”.

Ms. Roemer said the experience showed her how jewelry can be a form of storytelling. “The easy thing was to put in a bling diamond piece that grabbed attention, but I wanted to put Mandela’s story on the red carpet,” she said. “In the end, jewelry is emotional – you wear it on your skin every day. I don’t carry my grandmother’s purse every day, but I do wear her ring. It is very close to me and it really carries this emotional value. “

In the same year, her first high jewelry collection debuted at Harrods.

Atelier Romy – a name inspired by the birth of Ms. Roemer’s first daughter Romy – was developed as an affordable ready-to-wear line that can be sold exclusively online. “I wanted to portray something different,” she recalled. “Something with very bold designs, but still modern and timeless” – German for timeless – “depending on how you would superimpose it and make it your own.”

Valery Demure, the London-based brand consultant who represents several independent jewelers (but not Ms. Roemer) said, “Sabine interests me because she doesn’t come from a jewelry family. All she learned was through hard work and the fact that she has all of these skills. She is a woman with a real soul and purpose. “

That sense is becoming more and more relevant in a post-pandemic world. Ms. Hutton-Squire said the pandemic’s “forced pause button” highlighted the importance of sustainability and the environment, and prompted jewelers to trade more authentically online. For example, whether this was a playlist for meditation or sharing home recipes, “It wasn’t just about selling, selling, selling,” she said. “That really separated the authentic bands from the less authentic ones.”

This also explains the growing demand for handicrafts – something Ms. Roemer said she experienced prepandemic among some of the female customers of her high jewelry line. “They have a completely different attitude: to ask who did it and what it is. It’s less about the stone, how big it is and how big it is, ”said Ms. Roemer. “They only want to express themselves and their personality through jewelry.”

She brought the feeling online. Atelier Romy now has weekly drops of videos and footage of Ms. Roemer at the workbench cutting, soldering and shaping metal, always among her most popular posts. “Few people really know how jewelry is still made,” she said. “It was nice to bring people into the workshop and show them the process.”

In March, Ms. Roemer introduced Cornerstones, her first jewelry collection in more than 10 years. The extra time in Lockdown was a creative blessing, she said (“I always found the best pieces in the shop when you don’t have a plan”) and the nine pairs of earrings collection was a travel muse with multifunctional pieces like sea-inspired blue topaz, aquamarine, and diamond transformable earrings that Ms. Drew bought.

Ms. Roemer hopes to resume meeting customers from both brands who, thanks to the pandemic, feel more complementary than ever. “It’s like having two babies – you can’t choose a favorite baby, they are equally important,” she said. “But also completely different.”

Categories
Business

How the Pandemic Has Modified Attitudes Towards Wealth

In the past three years, several key metrics used to define wealth had declined. In 2018, 65 percent of those polled thought wealth gave them peace of mind, but that number had dropped to 53 percent by the spring. Half of those surveyed equated prosperity with happiness, four percentage points less than in 2018.

On another shift, more people said wealth meant success in life – up to 50 percent, up from 40 percent last time.

“A big component of success is still making money, but it’s just not making money to increase your financial capital,” said Baker. “It’s about achieving something in this process, building other things, taking some of this financial capital and putting it into something else.”

Mr Norton said his priorities had shifted to focusing more on the people around him and he decided to pay the first half of his company’s Christmas bonus to employees in May. “I only did it to make sure they were okay,” he said. “I focused less on my assets and my income than on doing the right thing for our customers, but also on ensuring that my employees and my family are doing well.”

For others, however, the prescribed isolation was centered on their minds. Douglas Swets, an angel investor in early-stage startups, said the pandemic added clarity and focus to the investments he and his partners made.

“After a year of Zoom meetings, I can have a lot more meetings, which improves our due diligence,” he said. “We can have more people making reference calls. You will get all questions answered. “

At the same time, Mr Swets, who is married with two grown children, said the investments he is reviewing are not necessarily better given the extra time. If anything, they were actually riskier, but the pandemic gave him a different view of investing.

Categories
Health

Why the CDC Modified Its Recommendation on Masks

The advice from federal health officials that fully vaccinated people could drop their masks in most situations took Americans, from state officials to scientific experts, by surprise. Even the White House has been notified less than a day in advance by the Centers for Disease Control and Prevention, press secretary Jen Psaki said at a news conference on Friday.

“The CDC, the doctors and medical experts there, have determined what these guidelines will look like based on their own data and the schedule,” said Ms. Psaki. “That wasn’t a White House decision.”

For months, federal officials have been vigorously warning that wearing masks and social distancing are necessary to contain the pandemic. So what has changed?

Dr. Rochelle P. Walensky, CDC director, presented the new recommendations on Thursday, citing two recent scientific findings as key factors: Few vaccinated people become infected with the virus, and transmission appears to be even less common. and the vaccines appear to be effective against all known variants of the coronavirus.

At this point there is no doubt that the vaccines are strong. On Friday, the CDC released results from another major study showing that the vaccines manufactured by Pfizer-BioNTech and Moderna are 94 percent effective in fully vaccinated patients and 82 percent effective in partially vaccinated patients.

“The science is pretty clear on this,” said Zoë McLaren, a health policy expert at the University of Maryland, Baltimore County. There is growing evidence to suggest that vaccinated people are very unlikely to catch or transmit the virus, she noted.

The risk “is definitely not zero, but it is clear that it is very small,” she said.

One of the scientists’ lingering concerns was that even a vaccinated person could carry the virus – perhaps briefly, with no symptoms – and spread it to others. However, CDC research, including the new study, consistently found few infections in those who received the Pfizer-BioNTech and Moderna vaccines.

“This study, which was added to the many previous studies, was instrumental in changing the CDC’s recommendations for those fully vaccinated against Covid-19,” said Dr. Walensky in a statement on Friday.

Other recent studies confirm that people infected after vaccination carry too few viruses to infect others, said Florian Krammer, a virologist at the Icahn School of Medicine on Mount Sinai.

“It’s really difficult to even sequence the virus sometimes because there is very little virus and it is there for a short period of time,” he said.

Still, most of the data was collected on the Pfizer-BioNTech and Moderna vaccines, warned Dr. Krammer. Because the Johnson & Johnson vaccine was later approved, there are fewer studies evaluating its effectiveness.

In clinical trials, the Johnson & Johnson vaccine was 72 percent effective – less than the Pfizer and Moderna vaccines. Efficacy was measured against moderate and severe illness rather than mild illness.

“It’s a very good vaccine and I’m sure it will save many, many, many lives,” said Dr. Krammer. “But we need more data on how well the J. & J. vaccine prevents infection and how well it prevents transmission. “

Variants of the virus have been of particular concern to scientists. While Dr. Walensky citing evidence that the mRNA vaccines like those from Pfizer and Moderna are effective against the variants circulating in the US, there is little data on variants and the Johnson & Johnson vaccine. And new variants are constantly emerging.

“I’m not saying at all that this is a big problem now,” said Dr. Krammer. But before I lifted the masking requirements, “I might have waited a little longer to look at the numbers.”

Updated

May 14, 2021 at 11:12 p.m. ET

In a statement on Friday, a CDC spokesman said: “All approved vaccines offer strong protection against serious illness, hospitalization and death. We are collecting data that our approved vaccines are effective against the variants circulating in this country. ”

Fully immunized people are unlikely to get seriously ill even if infected with the coronavirus. The risk of infection is greater for those around them – unvaccinated children and adults, or vaccinated people who are left unprotected due to illness or treatment.

CDC officials said they weighed these factors and are confident about assessing the science. And the new advice has other beneficial effects: It rewards fully vaccinated people by giving them permission to end their social isolation – and possibly encouraging others to choose to vaccinate.

The new advice “signals that we are really at the last stretch here, and I think that is a very good thing for people,” said Dr. Joshua Sharfstein, the vice dean of public health practice and community involvement at the Bloomberg School of Johns Hopkins University Health.

“It is unlikely that we will see another large spike in some cases,” he added. “But will the last stretch take weeks or months is still a question.”

The difficulty with the new recommendations, he and other experts said, is less the science that underpins them than their implementation.

Executives at the state, city and county level still have the authority to require masks for people who have been vaccinated, as the CDC quickly confirmed on Thursday. Following the agency’s announcement, some states immediately lifted the mask mandates, while others said they would need more time to weigh the evidence.

In states without a mask mandate, shopkeepers, restaurant workers, school officials and workplace managers must check vaccination status.

“Without a means of checking vaccination, we have to rely on an honor system,” said Caitlin Rivers, an epidemiologist at Johns Hopkins University.

The number of cases in the country is the lowest since September, and many experts are supporting the lifting of mask mandates across much of the country. But this will be riskier in places like Michigan, where there are more cases and for people who are unprotected, including children under the age of 12 and people with weak immune systems, said Dr. Rivers.

“People who are not vaccinated should continue to wear masks indoors in public and avoid crowds,” she said.

In Nacogdoches, Texas, Dr. Ahammed Hashim that only 36 percent of the population were vaccinated and the pace seemed to have stalled. Yet only one or two in ten people in local shops wore masks.

“I think the CDC could send the wrong message that everything is fine,” said Dr. Hashim, a pulmonologist. “It would feel a lot better if we had a 60 or 70 percent vaccination.”

The CDC guidelines are aimed at fully vaccinated individuals and should only be interpreted as such, warned Dr. Sharpstein. Nationwide, only 36 percent of the population are fully vaccinated.

“What we are seeing right now is a small gap between advice that is perfectly appropriate for people who have been vaccinated and the fact that there are places where virus transmission still takes place and a lot of people who are not vaccinated. ” he said.

Individuals can make decisions based on their perception of their own risks, but state and local leaders must decide what is best for the community based on the rate of infection. “These are two different things,” said Dr. Sharpstein. “And when they get into conflict, people can make bad judgments about politics.”

The new guidelines should remind health authorities to expand their reach and investment to ensure everyone has access to vaccines, said Dr. McLaren. Parents of children under the age of 12 should continue to encourage them to wear masks around the house.

The CDC’s new policy also shifts responsibility to immunocompromised people to protect themselves from exposed and unvaccinated people.

“When we make politics, we have to balance everyone’s needs and wants,” said Dr. McLaren. “We could mask forever, but there are benefits in going back to a life that looks more normal.”

Health officials should emphasize that the situation may still change, and official recommendations on that, she added, “We really need to practice being responsive to changing situations.”

Categories
Health

The Pandemic Has Modified Their Bathe Habits. How About Yours?

Robin Harper, an administrative assistant at a Martha’s Vineyard preschool, grew up taking a shower every day.

“It’s what you did,” she said. But when the coronavirus pandemic kept her indoors and out of the public eye, she started showering once a week.

The new practice felt environmentally virtuous, practical, and liberating. And it stayed.

“Don’t get me wrong,” said Ms. Harper, 43, who has returned to work. “I like showers. But it’s an off my plate thing. I am a mother. I work full time and there is one less thing to do. “

Parents have complained that their teenage children don’t take daily showers. After the UK media reported a YouGov poll found that 17 percent of Brits had given up daily showers during the pandemic, many Twitter users said they did the same.

Heather Whaley, a writer in Redding, Connecticut, said her shower use fell 20 percent over the past year.

After the pandemic forced her to lock her up, Ms. Whaley, 49, said she started thinking about why she showered every day.

“Do I? I want you to say.” Taking a shower was less a question of function than a question of doing something for myself that I enjoyed. “

Ms. Harper, who still uses deodorant and washes “the parts that need to be done” at the sink daily, said she was confident she was not offending anyone. Her 22-year-old daughter, who takes a demanding bath and shower twice a day, did not comment on her new hygiene habit. Still have the children in their school.

“The kids will tell you if you don’t smell good,” said Ms. Harper, “3-, 4-, and 5-year-olds will tell you the truth.”

Daily showers are a fairly new phenomenon, said Donnachadh McCarthy, a London environmentalist and writer who grew up taking weekly baths.

“We had a bath once a week and washed at the sink the rest of the week – under our armpits and our private lives – and that was it,” said 61-year-old McCarthy.

As he got older, he showered every day. But after a visit to the Amazon jungle in 1992 exposed the ravages of overdevelopment, McCarthy said he pondered how his daily habits affect the environment and his own body.

“It’s not really good to wash with soap every day,” said Mr. McCarthy, who showered once a week.

Doctors and health experts have said that daily showers are unnecessary and even counterproductive. Washing with soap daily can rid the skin of its natural oils and make it feel dry, although doctors still recommend frequent hand washing.

The American obsession with cleaning began around the turn of the 20th century when people moved to cities after the Industrial Revolution, said Dr. James Hamblin, professor at Yale University and author of Clean: The New Science of Skin and the Beauty of Doing Less. “

Cities were dirtier, making residents feel like they had to wash more often, said Dr. Hamblin, and soap making became more common. Indoor plumbing also improved, giving the middle class better access to running water.

To stand out from the crowd, wealthy people started investing in fancier soaps and shampoos and bathing more often, he said.

“It became a kind of arms race,” said Dr. Hamblin. “It was a token of wealth to look like you could bathe every day.”

Kelly Mieloch, 42, said she’d only showered “every few days” since the pandemic began.

What’s the point of showering every day if she rarely leaves home to run errands like taking her 6-year-old daughter to school?

“You don’t smell me – you don’t know what’s happening,” said Ms. Mieloch. “Most of the time, I don’t even wear a bra.”

In addition, she said her decision to quit daily showers helped her appearance.

“I just feel like my hair is better, my skin is better, and my face isn’t as dry,” said Ms. Mieloch, an Asheville, NC mortgage lender

Andrea Armstrong, an assistant professor of environmental science and studies at Lafayette College in Easton, Pa., Said she was encouraged as more people rethink their daily shower.

An eight-minute shower uses up to 17 gallons of water, according to the Water Research Fund. Running water uses as much energy as running a 60-watt light bulb for 14 hours for five minutes, according to the Environmental Protection Agency. And frequent washing means going through more plastic bottles and using more soap, which is often made from petroleum.

The individual decision to stop showering or bathing every day is an important decision at a time when environmentalists are urging countries to take more action against climate change, said environmentalist McCarthy.

“There’s nothing like bathing in a deep, warm bath,” he said. “It’s a joy that I absolutely accept and understand. But I keep these joys as rewards. “

However, Professor Armstrong said large numbers of people would need to change their bathing habits to improve carbon emissions. To make a real impact, local and federal governments need to invest in infrastructure that makes showering and water use generally less polluting.

“It pains me to think about fracking every time I shower and use my water heater at home,” said Professor Armstrong. “I’m in Pennsylvania. There is not much choice. “

Despite the compelling science, it’s hard to imagine that Americans as a whole rarely shower and bathe, said Lori Brown, a professor of sociology at Meredith College in Raleigh, NC

“We’ve been told so much about it that we can’t smell and buy products,” she said. “You are dealing with culture. You’re not into biology. You can tell people all day that this is of no use to them, and there will still be people who say, “I don’t care. I will take a shower.'”

Nina Arthur, who owns Ninas Hair Care in Flint, Michigan, said she had many clients who were menopausal and felt so uncomfortable they felt like they had to shower twice a day.

“I’ve had women who have hot flashes in my stool,” she said.

One client was sweating so badly that she asked Ms. Arthur to come up with a hairstyle that could withstand constant sweat.

The pandemic has not affected the bathing habits of such clients, Ms Arthur said.

“When you have menopause, the smells are really different,” she said. “They are not your normal smells. I don’t think there is a woman who would want that smell on her. “

Ms. Arthur, 52, said she understood the environmental argument for fewer showers, but it wouldn’t encourage her to change her bathing habits.

“No,” she said. “I’m not that woman.”

Susan Beachy contributed to the research.

Categories
World News

Asia-Pacific shares little modified as markets wrestle for route

SINGAPORE – Asia Pacific stocks barely changed on Wednesday morning, with major markets wrestling over direction.

In Japan, the Nikkei 225 fell slightly while the Topix index rose 0.2%.

Japan’s retail sales rose 5.2% year over year in March, according to the government. According to Reuters, this was higher than a median market forecast for growth of 4.7%.

South Korea’s Kospi slipped easily. The S & P / ASX 200 in Australia was down about 0.1%. Australia’s inflation data for the first quarter are expected. The consumer price index is expected to be released at 9:30 a.m. HK / SIN.

MSCI’s broadest index for stocks in the Asia-Pacific region outside of Japan was down 0.08%.

On corporate developments, investors will monitor Alibaba’s Hong Kong-listed shares after the Wall Street Journal reported that China is investigating how founder Jack Ma received swift approval to list the company last year.

The major indices on Wall Street were muted overnight in the US. The S&P 500 closed little changed at 4,186.72, while the Dow Jones Industrial Average also ended its trading day largely unchanged at 33,984.93. The Nasdaq Composite fell 0.34% to close at 14,090.22.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its peers, stood at 90.893 after hitting below 90.9 at the start of the trading week.

The Japanese yen was trading at 108.79 per dollar after weakening significantly below 108 against the greenback at the beginning of the trading week. The Australian dollar was trading at $ 0.7762 after yesterday’s drop of around $ 0.78.

Oil prices were higher on the morning of Asian trading hours and the international benchmark’s Brent crude oil futures rose 0.12% to $ 66.50 a barrel. US crude oil futures rose 0.13% to $ 63.02 a barrel.

Here’s a look at what’s on tap:

  • Australia: First quarter consumer price index at 9:30 am HK / SIN
Categories
Health

People Replicate on How the Pandemic Has Modified Them

Times Insider explains who we are and what we do, and provides a behind-the-scenes look at how our journalism comes together.

The pandemic has changed our reality. To better understand this transformation, Elizabeth Dias and Audra DS Burch, the National Desk correspondent, recently spoke to people across the country about her own experiences. They made a call to readers online, conducted interviews to hear from a number of voices, and collected these reports in the Who We Are Now article. Ms. Dias and Ms. Burch shared what they have learned in their reporting and how they have changed during this time. Read a slightly edited excerpt below.

How did this story come about?

ELIZABETH DAYS Last year, I reported on the mental crisis that sparked the pandemic. People everywhere have faced mortality and the deepest questions people have about life, death and suffering. National Desk Editor Jia Lynn Yang and I talk a lot about what it all means, and this story grew from one of those conversations to a collaboration with Audra and our image editor, Heather Casey. The subject of transformation is deeply spiritual and we wanted to hear from people who are now living differently and can share these stories with us.

How did you work with photography for this story?

DAYS It was a collaboration from the start. Art can give a voice to moments in our lives when words fail. The pictures and words together offer readers a journey to reflect on their own lives.

What did you look for in your appeal to readers?

AUDRA DS BURCH We tried to frame the questions in such a way that people are forced to think in obvious and not-so-obvious ways about what this year means to them. I think even the exercise of responding to the callout was a journey in its own right. Some people clearly struggled with who they had become in a year and when they came out of the “darkness” what they wanted for themselves. I can’t tell you how many people thanked us for investigating what caused the pandemic. Probably in the middle of reading the entries, I remember thinking, in a way, this really felt like a public service.

What did you find most interesting about the answers?

DAYS So many people found the reflection process enormously difficult or even impossible. It showed me how difficult it is to face, let alone change, feelings, and how little collective language there is to talk about these deep issues. Realizing that helped me think about how this story could help readers in this process.

BURCH I think I was most surprised by the bookends, the people willing to share their deepest thoughts and experiences on one end of the spectrum, and the people who – even though they were attending – were clearly in some sort of private hold pattern and unwilling or unable to come to terms with the emotional or spiritual toll of the pandemic.

Were there certain topics that you kept hearing?

DAYS So many people struggled with their homeland and wanted to get back to the core of who they are and where they come from. Time and again, people reassessed their most important relationships, where they want to live and how they want to be in the world.

What changes do you think we will see as a result of this time?

DAYS The most honest answer is I don’t know. I hope we can remember the common humanity revealed this year and help each other on this journey. But it is also true that the clarity that comes with intense suffering often tarnishes over time – it is one reason we made this story to name the transformation that is visible at this moment.

BURCH I think the big challenge is how long we can hold on to the clarity that such an event brought and how long the truths we discovered this year will shape our lives.

Was there anything that you thought of a lot while working on this story?

BURCH I thought of death. Much. One of the people I interviewed for the story was Joelle Wright-Terry. She is a Covid survivor. Her husband died of Covid last April. Your story stayed with me. I have thought many times about how it must feel when your family is knocked down by this virus and the ongoing trauma of loss.

DAYS I have thought many times about narratives of the apocalypse and awakening in spiritual literature and how closely they are intertwined with suffering. There were so many times that beings had to die to be reborn, like the phoenix, the old bird that went up in flames and then rose from the ashes.

How have you changed personally during this time?

DAYS One of the most amazing things about all of these interviews was hearing echoes of my feelings in the stories of so many other people with so many different life experiences, from anger to loneliness to newfound strength. It helped me feel less alone and took courage.

BURCH The process of working on this story had its own convenience. I also saw myself in so many of the stories told, from fear to helplessness to feeling not tied down as we trudged through the pandemic month after month.