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Hong Kong media tycoon Jimmy Lai denied bail after arrest on fraud charge – Global News

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Hong Kong media tycoon and pro-democracy activist Jimmy Lai was denied bail on Thursday on a charge of fraud related to the lease of a building that houses his Apple Daily, an anti-government tabloid.

Authorities have intensified a crackdown on key opposition figures in the Chinese-ruled city since Beijing circumvented the local legislature and imposed sweeping national security legislation on the global financial center on June 30.

Read more:
Hong Kong activist Joshua Wong sentenced to jail for 2019 anti-government protest

While Lai’s fraud charge did not fall under the national security law, it marks the latest crackdown on pro-democracy figures in the former British colony, which was handed back to Beijing in 1997 with a promise to maintain the free-wheeling city’s way of life for 50 years.

Critics say the law crushes freedoms in the global financial center, while supporters say it will bring stability after prolonged anti-China, pro-democracy protests last year.

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Click to play video 'More anti-Beijing critics arrested under Hong Kong security law'



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More anti-Beijing critics arrested under Hong Kong security law


More anti-Beijing critics arrested under Hong Kong security law – Aug 10, 2020

On Wednesday, one of Hong Kong’s most prominent democracy activists Joshua Wong was jailed for more than 13 months for his role in an unlawful anti-government rally in 2019, the toughest and most high-profile sentencing of an opposition figure this year.

Lai, 73, and two senior executives of his company Next Digital, were charged on Wednesday on suspicion of concealing from and falsely representing the use of their office to their landlord, a public corporation set up by the Hong Kong government.

The charge stated they were not using the office space as permitted under the lease between 2016 to 2020, and had sub-let a part of the premises, resulting in benefits to Apple Daily.

Read more:
Hong Kong leader says Chinese security law has been ‘effective in restoring stability’

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Reuters was not immediately able to reach Lai or his lawyers for comment. Next Digital suspended trading on Thursday morning, pending an announcement containing “inside information.”

“This is about dirtying Jimmy up. It’s Beijing’s policing brought to Hong Kong,” Mark Simon, an associate of Lai, told Reuters.

An ardent critic of Beijing, Lai has been detained since Wednesday after reporting to the police for his arrest in August. Prosecutors applied to adjourn the case until April next year, according to local media.

In August, Lai was arrested after about 200 police officers swooped on his offices. Hong Kong police later said they had arrested nine men and one woman for suspected offenses including “collusion with a foreign country/external elements to endanger national security, conspiracy to defraud” and others.


Click to play video 'Hong Kong police arrest nine people suspected of helping 12 activists held in China'



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Hong Kong police arrest nine people suspected of helping 12 activists held in China


Hong Kong police arrest nine people suspected of helping 12 activists held in China – Oct 10, 2020

Suspicion of colluding with foreign forces carries a maximum sentence of life in jail under the new security law.

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Lai has been a frequent visitor to Washington, where he has met officials, including U.S. Secretary of State Mike Pompeo, to rally support for Hong Kong democracy, prompting Beijing to label him a “traitor.”

The security law was introduced on June 30 and punishes anything China considers subversion, secession, terrorism or collusion with foreign forces with up to life in prison.

(Reporting By Clare Jim, Tyrone Siu and Greg Torode; Writing by Anne Marie Roantree and Raju Gopalakrishnan)

© 2020 Reuters

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Sunday January 17th 2021 Media Release – Brandon Police Service – Brandon Police Service

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Media Release for January 17th

Theft of Vehicle

Police received a report that a vehicle that had been left running was stolen from the 200 block of 10th Street at approximately 7:00PM January 16th.  Police located the vehicle on Victoria Avenue a short time later.  When police attempted to stop the vehicle it fled and a short pursuit was initiated.  The vehicle ended up in the ditch on Hwy 1 west off Brandon and while police were attempting to make an arrest, the vehicle intentionally collided with a police vehicle and fled eastbound on Hwy 1.  The stolen vehicle was later recovered by the RCMP abandoned in a field in the area of Minnedosa.  No Police Officers were injured during this incident. 

Theft of Vehicle

A vehicle was reported stolen from a driveway in the south part of the city.  The Ford truck had been left with the keys inside the vehicle and unlocked.  The vehicle was recovered with the assistance of an App the owner had installed that located the vehicle in the 000block of 26th Street.

Assault

A 43-year-old Brandon Male has been charged for assaulting a member of Brandon Fire and Emergency Services.  First responders were treating the male who was reported to be having breathing difficulties when he became disruptive and began intentionally coughing on BFES members and proclaiming that he was COVID positive.  Police took the male to hospital for treatment of his medical issues.  He has been released from police custody to appear in court March 1st 2021.

Anyone with information on any unsolved crime is asked to call Brandon Crime Stoppers at 204-727-(TIPS) 8477, www.brandoncrimestoppers.com or by texting BCSTIP and your message to CRIMES (274637).  Crime Stoppers pays up to $2000.00 cash for information that leads to the solution of a crime.

CRIME STOPPERS 204-727-TIPS

RELEASE AUTHORIZED BY:

Sgt. B. Verhelst #106

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More Media Coverage Drives Improved Stock Performance, Researchers Find – Forbes

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In turns out that stocks that attract consistent headlines offer better returns to investors of around 2.6% a year over past decades according to research.

Two researchers have published a paper on this topic of the ‘Value of Visibility’, they are Alexander Hillert of Frankfurt University and Michael Ungeheuer of Aalto University. They analyzed stock performance based on New York Times

NYT
coverage from 1924-2013 along with other relevant datasets.

They find that stocks that attract news coverage can see other benefits too. Such stocks can see higher growth in sales and profitability, as well as improvements in corporate governance.

It also appears that CEOs who perform poorly at companies with high media exposure are more likely to lose their jobs. This may not be good for them, but is considered to be good for the stock price. This may be one way in which more media coverage drives stock performance.

Types Of Coverage

The media coverage that can help drive stock performance does not need to be positive. Even stocks that receive negative media coverage generally see more positive stock price performance than those stocks that see less media attention.

There is significant variation in which firms see New York Times coverage, about 30% to 60% of firms receive some coverage annually. The rate of coverage has actually declined over time as the New York Times has shifted focus away from covering company’s financial reports to a great focus on other news events.

Controlling For Factors

Of course, it’s important to be careful when examining media coverage because it can correlate with other factors. For example, larger companies generally receive more media coverage. So maybe company size is the real driver of this effect, not media coverage. However, the researchers control for this, and do find that media coverage does appear to be a driver of returns, even after other factors are controlled for.

Motivation

A secondary question is why increased media coverage should lead to improved stock price performance.

The researchers suggest two main effects here, building on prior research by Philip Tetlock. There may be two ways in which greater media coverage help firms. The first is essentially free advertising. More media coverage can drive demand for company’s products and services. They find support for this view. So the greater media coverage may help improve sales and profits.

Secondly, media coverage can improve governance. It’s likely harder for a company to commit fraud or retain an underperforming CEO when they have more media attention. The researchers find support for this view too.

It also appears that this effect may still occur today. The researchers split their dataset and found the effect to be just as strong after 1974 than before. They also looked at Wikipedia page views in recent years from 2009-2014 as a proxy for more recent media attention. They found that Wikipedia page attention too, was a good predictor of stock price performance. Therefore, the effect may still exist today and likely spans multiple forms of attention that companies receive, not just newspaper coverage by the New York Times.

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More Media Coverage Drives Improved Stock Performance, Researchers Find – Forbes

Published

 on


In turns out that stocks that attract consistent headlines offer better returns to investors of around 2.6% a year over past decades according to research.

Two researchers have published a paper on this topic of the ‘Value of Visibility’, they are Alexander Hillert of Frankfurt University and Michael Ungeheuer of Aalto University. They analyzed stock performance based on New York Times

NYT
coverage from 1924-2013 along with other relevant datasets.

They find that stocks that attract news coverage can see other benefits too. Such stocks can see higher growth in sales and profitability, as well as improvements in corporate governance.

It also appears that CEOs who perform poorly at companies with high media exposure are more likely to lose their jobs. This may not be good for them, but is considered to be good for the stock price. This may be one way in which more media coverage drives stock performance.

Types Of Coverage

The media coverage that can help drive stock performance does not need to be positive. Even stocks that receive negative media coverage generally see more positive stock price performance than those stocks that see less media attention.

There is significant variation in which firms see New York Times coverage, about 30% to 60% of firms receive some coverage annually. The rate of coverage has actually declined over time as the New York Times has shifted focus away from covering company’s financial reports to a great focus on other news events.

Controlling For Factors

Of course, it’s important to be careful when examining media coverage because it can correlate with other factors. For example, larger companies generally receive more media coverage. So maybe company size is the real driver of this effect, not media coverage. However, the researchers control for this, and do find that media coverage does appear to be a driver of returns, even after other factors are controlled for.

Motivation

A secondary question is why increased media coverage should lead to improved stock price performance.

The researchers suggest two main effects here, building on prior research by Philip Tetlock. There may be two ways in which greater media coverage help firms. The first is essentially free advertising. More media coverage can drive demand for company’s products and services. They find support for this view. So the greater media coverage may help improve sales and profits.

Secondly, media coverage can improve governance. It’s likely harder for a company to commit fraud or retain an underperforming CEO when they have more media attention. The researchers find support for this view too.

It also appears that this effect may still occur today. The researchers split their dataset and found the effect to be just as strong after 1974 than before. They also looked at Wikipedia page views in recent years from 2009-2014 as a proxy for more recent media attention. They found that Wikipedia page attention too, was a good predictor of stock price performance. Therefore, the effect may still exist today and likely spans multiple forms of attention that companies receive, not just newspaper coverage by the New York Times.

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