Key reason Tottenham are targeting Ivan Perisic revealed

Key reason Tottenham are targeting Ivan Perisic revealed

An insight into why Tottenham are targeting Inter Milan’s Ivan Perisic has been revealed.

Perisic is 33 years of age and out of contract with the Serie A powerhouse at the end of June.

But given his age, Tottenham’s interest in the winger is seen by many as somewhat odd.

Now though, an insight into why Tottenham are looking to bring the Croatian in has been provided and it centres around current Spurs talent, Ryan Sessegnon.

According to football.london, Spurs’ managing director of football Fabio Paratici believe that Perisic can help mentor and push on 21-year-old Sessegnon to develop as the wing-back duo share the large amount of matches on offer next season with Spurs’ return to the Champions League.

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They add that Conte has high hopes for Sessegnon if he can get a good full pre-season under his belt and steer clear of further hamstring woes.

Speaking about Sessegnon earlier this season, the Italian had this to say:

“Sess in my vision has all the possibility to become an important player. First of all he is young and has in front of him a lot of years. He is strong physically and fast, has a good engine, a resilience,” he said “He has good quality. Sometimes I think he feels a bit of pressure, but with me he played important games, against Liverpool, against Chelsea, against City.

“It means I trust him. If you remember in the last game I changed the system, but only for this, I took him off after 30 minutes. I explained it was a tactical situation, but we are talking about another player that if he works and you have patience to work with him he is another player that can become an important player, also for England, the national team, but the first person that has to be convinced is himself. I trust him in the same way I trust all the players.”

It is also worth pointing out that if Perisic is being brought in to tutor Sessegnon, then Sergio Reguilon is now somewhat surplus to requirements as the Lilywhites don’t really need three left-wing-backs.

Tottenham squad assessment: Who should they keep, who should they sell?

Tottenham 2021/22 season review: Best signing, biggest flop & more


Tottenham betting odds, next game:

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Marcus Smart on facing Warriors in NBA Finals: “We’re up for the challenge”

The Celtics returned to the NBA Finals for the first time since 2008 when Boston won a championship. It will be the first time for Marcus Smart as well for his teammates to play at this stage.

The 28-year-old point guard, who was one of the top three scorers for the Celtics alongside Jayson Tatum and Jaylen Brown with 24 points, says that his team is up for a challenge of facing the Warriors in the Finals.

“No matter what adversity is put in front of us. No obstacle, no loop. We’re gonna get through it. We’re gonna get over it. We’re gonna get around it,” Smart said postgame. “This is how we live our lives on the court. We really truly believe that.

“We know we’re going up against a great team with the Warriors. Great players, great organization. They have a track record to prove it. They know exactly what it takes. They’ve been here. There they’re vets. We know we got a long road in front of us, but we’re up for the challenge.”

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Nintendo Shutting Down Pokémon DP Sound Library After Just 3 Months

Nintendo is shutting down the Pokémon Sound Library later this week, just three months after the service was launched.

As reported by Eurogamer, the Pokémon DP Sound Library – which lets content creators download and legally use sound effects and music from Pokémon Diamond and Pearl – will cease to exist as of May 31.

The move is quite unexpected as Nintendo heavily promoted the Sound Library when it launched in February, even collaborating with Japanese performer and DJ Alan Shirahama to have a single released that solely used Pokémon music.

Though not confirmed to be related, the service was also launched shortly after Nintendo removed several videos from video game music YouTube channel GilvaSunner, prompting its owner to delete the channel completely. The Pokémon Sound Library was therefore seen as a viable, safe, and completely legal way for Nintendo fans to enjoy otherwise hard-to-find music.

No reason for the shutdown was given, with the Sound Library now simply displaying a message that states users can no longer stream or download sounds after 2am PT on May 31.

Users who have already downloaded files from the website can continue to use them as long as that use adheres to the Sound Library’s terms and conditions, though it’s currently unclear if these will change following the website’s closure.

The Sound Library has 149 different tracks and sound effects from the original 2006 versions of Pokémon Diamond and Pearl but doesn’t feature any of the updated music from last year’s remakes, and fans can continue to download these files until the service closes.

We’ve contacted The Pokémon Company for comment.

Ryan Dinsdale is an IGN freelancer who occasionally remembers to tweet @thelastdinsdale. He’ll talk about The Witcher all day.

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All the Leads That Proved to Be Letdowns in the Natalee Holloway Case

Paul van der Sloot died suddenly of a heart attack in February 2010, leaving his son adrift. According to Holloway family attorney John Kelly, a desperate Joran emailed him that March, writing, as Kelly told Dateline, “‘I want to come clean. My father’s dead now. I have nothing to hide. I want to help Natalee’s family, but at a price, you know, for a quarter million dollars…I will tell you what happened to Natalee, where she is now so you can help Beth bring her home.'”

With Beth’s permission, John Kelly met with Joran in Aruba, promising to start with $25,000. The young man said he knew where the body was; John asked what would happen if they didn’t pay him. Joran allegedly replied, “‘Beth can wait another five years.'” The family then turned to the FBI, which helped orchestrate a plan to make Joran think he’d be getting paid in order to catch him committing wire fraud, which would at least be something to hold him on.

John and Joran met again, and this time John wired him a total of $25,000. In turn, Joran led John to a house near the Aruba Racquet Club, where he claimed he had stashed Natalee’s remains in what was then a freshly poured foundation, before the house was built. John said on Dateline that Joran claimed he had been on the beach with Natalee, he wanted to go, she resisted, and then he “got angry and actually threw her. He actually made the gesture in the car, on video, showing me how he threw her in anger, because she wouldn’t leave at that point. And according to him, she hit the back of her head, lots of blood and she was dead.”

John said he was skeptical of Joran’s overall story, which was that he first hid Natalee’s body at the beach with his father’s help, and then the next day they buried her. But he still hoped they had shaken something loose.

“When I got on the plane May 11 [2010], I thought it was a done deal,” John said. “And he was going to be arrested at some point. That he’d be talking at some point, and we’d get some closure at some point.”

But the house Joran pointed to hadn’t been under construction in 2010, according to the authorities who said they didn’t find his story credible enough to make an arrest. He wasn’t even arrested for wire fraud.

John said that Joran remained in touch with him up until May 25, claiming he would turn himself in. Instead, he flew to Peru.

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Nintendo Switch Pro Controllers Are On Sale for Memorial Day

Memorial Day has landed and with it is your chance to snap up some great bargains. While Memorial Day sales tend to focus on household appliances and clothing, there are some great gaming and tech deals out there if you know where to look. Be sure to check out our roundup of all the best Memorial Day offers this year.

One of the best deals we’ve managed to pick out so far is this wonderful offer from Amazon on the Nintendo Switch Pro Controller which has dropped to just $54.99 (see price in cart).

Memorial Day Savings on Nintendo Switch Pro Controller

You can grab yourself a Nintendo Switch Pro Controller for just $54.99 over on Amazon. That’s a 21% discount this Memorial Day, and it’s pretty rare to see the controller see such a significant discount, so this could be a great opportunity to pick one up. Just make sure you add it to your basket to see the correct price at Amazon.

These controllers are such a handy piece of kit that allows you to take your handheld gaming to the next level. It also comes with a handy USB C to USB A charging cable to keep you going no matter where you are.

More Great Deals on Controllers

There aren’t just great savings on Switch controllers this Memorial Day, there are also loads of savings to be had on DualSense Controllers for the PS5. Did we mention this discount is available at all retailers? Don’t miss out on this one.

You can grab a brand new DualSense controller for as little as $59 (dropping from as much as $74.99 list price). The offer applies to a number of different designs, including Cosmic Red, Galactic Purple, and Midnight Black.

PlayStation Days of Play Sales

Speaking of PlayStation, we’ve once again been lucky enough to be blessed with a Days of Play sale. Sony’s incredible offerings are running right the way through to June 8.

As well as the DualSense controllers listed above, you can find savings on titles like Ratchet and Clank: Rift Apart, LEGO Star Wars: The Skywalker Saga, and Elden Ring.

Not to mention that PS5 consoles will very soon be avaialble again in Walmart stores, the retail giant is expected to restock the consoles from June 2.

Best Days of Play Deals Today

Robert Anderson is a deals expert and Commerce Editor for IGN. You can follow him @robertliam21 on Twitter.



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Samsung Galaxy Z Fold 4 Specifications Surface in Detail, Snapdragon 8+ Gen 1 SoC Tipped

Samsung Galaxy Z Fold 4 specifications have been leaked online in detail. The new Samsung foldable phone is said to come with a few incremental upgrades over the Galaxy Z Fold 3. The Samsung Galaxy Z Fold 4 would carry an octa-core Qualcomm Snapdragon 8+ Gen 1 SoC — the chip that was launched earlier this month. It would also feature an improved rear camera setup as well as an upgraded under-display camera. Given the company’s historical records, the Galaxy Z Fold 4 may launch sometime in August–September.

Tipster Yogesh Brar on Twitter has leaked the Samsung Galaxy Z Fold 4 specifications. Since the company has not yet officially confirmed the existence of the new foldable, it is safe to consider the reported details with a pinch of salt.

Samsung Galaxy Z Fold 4 specifications (expected)

According to the tipster, the Samsung Galaxy Z Fold 4 will come with a 7.6-inch QXGA AMOLED display, with a 120Hz refresh rate. The phone is also said to have a 6.2-inch HD+ AMOLED cover display with a 120Hz refresh rate. The display details of the new foldable phone are identical with those of the Galaxy Z Fold 3.

The Galaxy Z Fold 4 is also said to have octa-core Qualcomm Snapdragon 8+ Gen 1 SoC, along with 12GB and 16GB RAM options as well as 256GB and 512GB storage versions. Last year, the Galaxy Z Fold 3 came with the Snapdragon 888 SoC and had 12GB RAM as standard as well as 256GB and 512GB onboard storage options.

Similar to last year’s model, the Samsung Galaxy Z Fold 4 is said to have a triple rear camera setup. The camera setup this time will have a distinct primary sensor and according to the tipster, it will have a 50-megapixel resolution. This is different from the 12-megapixel primary camera available on the Galaxy Z Fold 3. A previous report, though, suggested that the Samsung Galaxy Z Fold 4 would come with a 108-megapixel primary camera.

The Samsung Galaxy Z Fold 4 is also said to have a 16-megapixel under-display camera on the foldable display. This is a significant upgrade over the 4-megapixel under-display camera available on the last-year model.

Samsung is tipped to offer a 10-megapixel selfie camera sensor on the cover display of the Galaxy Z Fold 4. This appears identical to Galaxy Z Fold 3’s 10-megapixel selfie camera.

The Galaxy Z Fold 4 is also said to run Android 12 out-of-the-box, with One UI on top.

Just like the last-year model, the Galaxy Z Fold 4 is tipped to have a 4,400mAh battery with 25W fast charging support.




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Lamar Jackson’s situation, Eagles do right by Jalen Hurts and more

The Baltimore Ravens began their OTAs last week, but star quarterback Lamar Jackson was absent. Nobody is talking, and it’s getting weird.

Lamar Jackson’s words say one thing. His actions say otherwise.

Last week, the Baltimore Ravens opened their season with voluntary OTAs. Jackson wasn’t in attendance, only one of two quarterbacks around the NFL not present. The other was Kyler Murray of the Arizona Cardinals, who has been public in his discontent with the organization throughout the offseason.

However, unlike Murray, Jackson’s team has repeatedly attempted to engage him in extension talks this winter. No dice.

Entering the final year of his rookie deal, the Heisman Trophy winner and unanimous 2019 MVP hasn’t returned the urgency of general manager Eric DeCosta, something the team made clear at the Owner’s Meetings in late March.

“Unless he has a change of heart, calls Eric and says ‘I’m ready,”’ said team owner Steve Bisciotti, via the team’s website. “Eric can’t keep calling him and going, ‘Hey Lamar, you really need to get in here and get this thing done.’ It’s not a GM’s job.

“Eric can structure contracts any way he wants. I think we’re a pretty aggressive team and when Lamar’s ready…we’ll pay him when he’s ready.”

Still, Jackson doesn’t appear ready to negotiate. And considering Jackson represents himself, it presents a tricky situation for DeCosta, who doesn’t have an agent to work with as an intermediary.

Jackson, who has publicly stated both his love for the franchise and his displeasure with the trade of receiver Hollywood Brown in recent months, took a moment Friday to tweet he isn’t at OTAs because he doesn’t need to be, but stated “I will be there, just not on your watch,” in response to criticism from NBC Sports’ Chris Simms.

While Jackson’s words say he is committed to Baltimore going forward, his actions are of a man either conflicted on the future, or one who doesn’t believe it’s in Charm City. And for the Ravens, every passing day without Jackson signed long-term creates potential cap issues as planning becomes difficult.

“They have to give themselves some other options,” a former NFL general manager told FanSided. “If they love the backup, that’s one thing but I’m not sure that’s their best answer. I would’ve drafted one that I felt really good about in the second or third round. Maybe they didn’t like any of them, I don’t know.

“The worst deals I ever made as a GM were the ones that I struggled to communicate with the other side on — or had no options. I have never thought hope was a real plan.”

At this juncture, DeCosta has two options. He can play out 2022 as is, and then place the franchise tag on Jackson, knowing he can do the same come the following year. Or, DeCosta can continue trying to work out an extension, and if he fails, start seriously considering drafting a quarterback in what is expected to be a loaded ’23 rookie class before trading Jackson for one of the biggest hauls in league history.

And for Baltimore, maybe the second option is becoming increasingly appealing.

The Ravens have enjoyed immense regular-season success with Jackson, but their limited passing game has hurt them in three consecutive playoff losses from 2018-20. While Jackson has steadily improved, DeCosta must weigh paying Jackson $45+ million annually, or finding another quarterback who will be cheap for four years and can produce similar win totals. Not easy, but appealing.

Ultimately, if Jackson won’t sit at the bargaining table, DeCosta may feel he has little choice.

Smart money still says the sides get a deal done. Baltimore clearly wants Jackson, and although he’s been aloof in negotiations to this point, Jackson continues to publicly state his love for the Ravens. Furthermore, if DeCosta wants, he can control Jackson’s movement for the next three years, albeit at a massive cap number in ’23 and ’24.

As for Jackson, he has to assess risk. With this being the final year of his rookie deal, one serious injury and suddenly he loses what could literally be hundreds of millions. We’ve seen men like Kirk Cousins play out the tag, and that was risky, but it’s meager compared to what Jackson would be losing.

For the Ravens, and Jackson, the safe move is signing.

But so far, Jackson’s words have gone much further than his actions, and the Ravens have to be worried.

Power rankings

Top 10 Offensive Rookie of the Year candidates

1. Chris Olave, WR, New Orleans Saints – Deep threat, big-armed QB
2. Treylon Burks, WR, Tennessee Titans – Tons of opportunity with A.J. Brown gone
3. Kenny Pickett, QB, Pittsburgh Steelers – Only rookie QB who is likely to start
4. Breece Hall, RB, New York Jets – Excellent talent, top rookie RB taken, opportunity
5. Skyy Moore, WR, Kansas City Chiefs – Patrick Mahomes, great system for big numbers
6. Garrett Wilson, WR, New York Jets – Might be top target for Zach Wilson
7. Alec Pierce, WR, Indianapolis Colts – Opportunity as No. 2 receiver, Matt Ryan
8. Christian Watson, WR, Green Bay Packers – Aaron Rodgers, no clear top target
9. Jameson Williams, WR, Detroit Lions – Can Williams get healthy for enough games?
10. James Cook, RB, Buffalo Bills – Carries, great offense, light boxes

Quotable

“He has the total package. Just being around him for the past week and seeing some of the things he can do, he has all the tools. He’s very gifted. It’s about applying it, taking the stuff he learns in the classroom, taking it to the field. He has the tools. It’s about refining those tools. And it takes time.”

– Green Bay Packers’ Randall Cobb on fellow receiver and rookie Christian Watson

The handwringing surrounding Green Bay’s lack of weaponry is overblown, considering the two-time reigning MVP is playing quarterback in Titletown. However, if the Packers don’t get much from Watson in his rookie year, it’s a fair question to ask what Green Bay will do on third down and in the red zone against quality defenses.

If the youngster can perform immediately, that’s where he’ll have his biggest impact.

Podcast

Random stat

Joe Gibbs is the only head coach in NFL history to win the Super Bowl with three different starting quarterbacks, doing so with Washington in 1982 (Joe Theismann), ’87 (Doug Williams and ’91 (Mark Rypien).

Info learned this week

1. Deshaun Watson situation continues to build for NFL, Browns

Another week, and more speculation about the future of Deshaun Watson.

Watson, who still faces 22 civil suits from women in Texas alleging sexual misconduct, has yet to be suspended by the NFL. While rumors swirl about when discipline could be handed down — and the amount of it we’ll see — Tuesday brought more to light with HBO’s Real Sports with Bryant Gumbel airing interviews with some of Watson’s accusers.

While the commentary didn’t bring new bombshells, it reinforced the heinous nature of what Watson allegedly did. And although all 10 criminal complaints have been dismissed by a pair of Texas grand juries, the NFL still has the ability to ban Watson for whatever duration it believes appropriate.

Eventually, commissioner Roger Goodell must decide whether to wait for all the civil suits to be settled, or to act soon. If it’s the former, Watson could well play the entire 2022 season. If it’s the latter — which Sports Illustrated’s Albert Breer predicts — it makes sense to move before training camp, allowing the league to shift the conversation from rampant speculation to a final decision.

2. It’s been a big week of health for AFC East quarterbacks

Mac Jones and Zach Wilson. Ready for both the beach and their sophomore seasons.

Last week, there was ample talk about both of them getting into better shape. For Wilson, the New York Jets’ signal-caller says he’s up to 221 pounds through elimination of added sugars, putting on healthy weight. Wilson was 208 pounds as a rookie, and hopes to be 218 once the season starts. As a more slender quarterback, it’s a wise move for the former BYU star to bulk up.

Meanwhile, the New England Patriots are also seeing less of Mac Jones. Literally.

Jones has cut down the belly fat after his rookie campaign and entered OTAs at 214 pounds. While he was able to stay healthy and play all 17 games for New England in 2021, the increased nutrition could pay off in terms of avoiding a late-season downturn, as happened a year ago.

For both Wilson and Jones, it shows the willingness to be serious about the non-football portions of a career which often extend the lifespan of a player. Good signs for each team.

3. Steelers make smart, predictable move in hiring Omar Khan

Nobody is more consistent in their processes than the Pittsburgh Steelers.

On Wednesday, Pittsburgh hired internal candidate Omar Khan to replace long-time general manager Kevin Colbert, who retired this offseason. Khan has been with the club since 2001 and working as Colbert’s right-hand man since the ’16 season.

For Pittsburgh, this was the easy choice. No team loves continuity more than the Steelers, who famously have had only three head coaches since 1969. In the front office, there’s also been little change, and Khan’s elevation in light of Colbert’s departure stays with that line of thinking.

While so many franchises are constantly flailing and changing course, Pittsburgh never does. It has served the Steelers well, with six Super Bowl titles and 30 playoff appearances over the past 49 seasons.

4. Raiders work out Colin Kaepernick for backup role

Colin Kaepernick hasn’t thrown an NFL pass since 2016. Could that soon be changing?

For the first time since being blackballed for his social justice stance, Kaepernick worked out with an NFL team. Last week, the Las Vegas Raiders gave him a look. In theory, if he’s better than current backup Jarrett Stidham, he should be signed. However, despite positive reviews, Kaepernick hasn’t gotten a deal from Las Vegas yet.

Although Kaepernick hasn’t had any opportunities since ’16, it’s hard to argue he’s not worth a backup spot. Forget the politics for a minute. Kaepernick was a decent starter who went 28-30 as a starter, completing 59.8 percent of his attempts with 72 touchdowns against 30 interceptions. To argue he’s a quality starter is asinine and biased, but it’s the same thing to say he’s not better than most current backups in the league.

The Raiders got a good view. Perhaps it’s finally his door back, but so far, that door hasn’t opened.

5. Deion Jones hurt, and the Falcons already dealing with issues

With the Atlanta Falcons starting OTAs, one prominent face wasn’t there.

Linebacker Deion Jones is going to miss the remainder of the offseason program following shoulder surgery. This means sidelining one of the Falcons’ top-five players, albeit with the hope Jones is back in time for a good chunk of training camp and the regular season.

If the Falcons are going to compete at all in 2022, they need some luck. The offense is barren save for tight end Kyle Pitts and rookie receiver Drake London, while the defense is largely Jones and star corner A.J. Terrell. Outside of those names and a few veterans such as tackle Jake Matthews and defensive lineman Grady Jarrett, it’s one of the NFL’s weakest rosters.

And for Jones, this is a contract year, even with his current deal running through 2023. If Jones struggles, the Falcons can release him for a cap savings of $13.1 million while, only eating $5.3million in dead cap.

Two cents

If any one unit can swing a playoff race this autumn, it’s the Miami Dolphins’ offense.

Miami spent gobs of money and draft capital this offseason, signing guard Connor Williams, left tackle Terron Armstead and running back Raheem Mostert. The Dolphins also made a blockbuster trade to land receiver Tyreek Hill from the Chiefs, sending back five picks over the 2022 and ’23 drafts.

All of this is a major push under first-year head coach Mike McDaniel to win a playoff game for the first time since 2000. And whether the draught finally ends is largely on McDaniel and quarterback Tua Tagovailoa.

For two years, Tagovailoa dealt with horrid offensive lines and only one top-tier weapon in last year’s rookie sensation, Jaylen Waddle. Now, Tagovailoa is supported by better protection, Hill and Waddle, a speedy backfield led by Mostert and sure-handed tight end Mike Gesicki.

If Tagovailoa takes a major step forward, the Dolphins can challenge for a playoff berth in the loaded AFC. If not, Miami will once again be an afterthought.

Inside the league

Nobody has had a better offseason than Jalen Hurts.

The Philadelphia Eagles surprised many last season by winning nine games and earning a wild card spot, before being handled by the Buccaneers in the opening round.

However, the Eagles didn’t beat a single playoff team in 2021, prompting general manager Howie Roseman to look inward, understanding Philadelphia needed serious upgrades.

The result was a slew of activity.

Roseman traded for star receiver A.J. Brown on draft night from the Tennessee Titans, giving up a first-round choice. However, Philadelphia had two such picks and used the other on defensive tackle Jordan Davis out of Georgia, adding to a great interior which includes Javon Hargrave and Fletcher Cox. In the third round, another Bulldog with linebacker Nakobi Dean, who was projected universally as a first-rounder.

Finally, the Eagles took advantage of the New York Giants’ cap situation and signed star corner James Bradberry, pairing him with Darius Slay on the perimeter.

All of this bodes well for Hurts, who enters a critical year surrounded by one of the league’s best rosters. If the quarterback doesn’t improve, Roseman has two ’23 first-round picks to potentially upgrade.

Yet, Hurts now has Devonta Smith and Brown to target along with a burgeoning defense, loaded with stars both up front and in the back. It’s a great position to succeed in, and one Hurts must take advantage of.

History lesson

Few teams have ever been carried by one player quite like the 1977 Chicago Bears.

In ’77, Chicago reached the playoffs for the first time since beating the New York Giants in the 1963 NFL Championship Game. It was almost solely because of future Hall of Fame running back Walter Payton.

Payton ran for 1,852 yards and totaled 2,121 total yards from scrimmage, accounting for 45.6 percent of the Bears’ output that season. Payton also scored 16 of the team’s 29 offensive touchdowns, and was the only member of Chicago to make the Pro Bowl or All-Pro squads.

Ultimately, Chicago went 9-5 and earned a wild card spot before losing to the Cowboys, 37-7, in the Divisional round.

Parting shot

This is an NFL column, and I’m an NFL reporter. My job is to inform on and discuss football. But I’m an American and a father well before the aforementioned title. And in this moment, I’m furious.

On Tuesday in Uvalde, Tx., 21 people were murdered during a mass shooting at Robb Elementary School, including two teachers and 19 children.

In the days since, we’ve seen the typical nonsense. Talk from certain politicians about the need to fortify schools as though they’re prisons, reducing doors, blaming Godlessness and video games, etc. Anything but the obvious: common-sense gun laws.

What are we doing? Who are we as a society?

I’m not looking for a repeal of the Second Amendment or to keep guns away from the regular citizen. Not at all. I also believe the country — and the globe — could certainly use more attention paid to mental health. That’s a real problem.

But to avoid a discussion on guns after such a horrific tragedy is to be purposefully obtuse. There’s no reason we can’t keep 2A and also enforce universal background checks, a mental health screening, safety training, a course test and the requirement of a permit.

That’s barely more than what getting a driver’s license asks of us.

I’ve seen all the arguments about why guns aren’t to blame. Most of them are hogwash. All the other factors constantly brought up are also present in every other country on earth, and yet the United States is the only nation which sees more mass shootings than days in the year.

The bottom line is until we keep our children safe, we have failed. And America is failing. Badly.



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Gov’t says crypto miners consume 2% of total electricity in Russia

Crypto miners account for two percent of the total electricity consumption in Russia, according to the latest government estimate.

The energy consumption share of the crypto mining industry has exceeded the country’s agricultural sector, showing signs of recovery after Russia fell out of the top three in the global Bitcoin (BTC) mining hash rate share.

Russia’s deputy minister of trade and industry Vasily Shpak called for bringing the mining industry under the purview of law in the wake of the recent mining estimate. He said:

“Do you know how much mining accounts for in the overall map of electricity generation in our country? And I’ll tell you: more than 2%. This is more than the cost of electricity for agriculture. We cannot but recognize mining in this sense as an industrial activity or industry.”

Crypto mining in Russia falls under the “gray zone‘ where even though it is not banned, it is not regulated either, which creates a risk for those involved in the industry. The deputy minister also assured that once the crypto mining industry is regulated, it would move toward more energy-intensive methods.

Related: Amid sanctions, Russia weighs crypto for international payments: Report

The calls for regulating the crypto mining industry come just days after legislators in the country introduced an updated version of the crypto mining bill. The updated bill removed two sub-sections – the obligation for mining operators to join a special registry and a one-year tax amnesty for all those who’ve registered.

Apart from the deputy minister of trade, the country’s prime minister Mikhail Mishustin has also batted for looking into the crypto mining industry, In April Mishustin has said:

“We also think that in order to stimulate investment, primarily in fixed capital, we can discuss mining issues, this is the creation of data centers and related infrastructure,”

The Russian central bank on the other hand continues to call for a blanket ban on mining operations in the country.

Bitcoin mining hash rate share. Source: CBECI

Russia’s BTC mining hash rate share dropped to 4.55% behind Kazakhstan, China and the United States in the latest report from the Cambridge Bitcoin Electricity Consumption Index (CBECI).

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South Korean authorities reportedly probe staff behind Terra

The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna Classic (LUNC), previously known as Terra (LUNA), and TerraUSD (UST) tokens, by reportedly summoning subpoenas to employees.

South Korean authorities have reportedly summoned all employees at Terraform Labs as part of a full-scale investigation of the collapse of UST and LUNC, the local news agency JTBC reported on Saturday.

According to the report, the probe is conducted by the joint financial and securities crime investigation team of the Seoul Southern District Prosecutors Office. The authorities are looking into the case to check for signs of intentional price manipulation and whether the tokens went through proper listing procedures.

The investigators also reportedly alleged that the Terra token’s mechanism was faulty in the first place, as stablecoin UST is not pegged to a stable collateral or profit model. “At a certain point in time, there is no other way but to collapse because it cannot handle interest payments and fluctuations in value,” the authorities reportedly said.

As previously reported, Terra investors filed a class-action suit against Terraform Labs CEO Do Kwon and co-founder Shin Hyun-seun in mid-May, demanding a record of user accounts, marketing materials and UST-related communications. The investors reportedly lost up to $44 million worth of deposited funds after LUNC tanked 99% and UST lost its 1:1 peg value to the United States dollar.

According to some reports, Terraform Labs dissolved its South Korean branch days before the LUNC and UST collapse, with some speculating that Kwon closed the local division to evade taxes. South Korea’s national tax agency eventually slapped Terraform Labs and its co-founder with a $78 million penalty for tax evasion.

Related: Investors dumping on Terra as LUNA 2 tanks 70% in two days

The news comes amid Terraform Labs on May 28 relaunching Terra’s new chain, Terra 2.0, aiming to revive the crashed Terra ecosystem. Major crypto exchanges including Binance and FTX said that they were working closely with the Terra team to support the upcoming airdrop to help affected users. The new LUNA token plummeted 70% shortly after going live, with many investors dumping on Terra 2.0.

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UN Deeply Troubled by Impending Cuts on Development Aid by Rich Nations — Global Issues

UN Deputy Secretary-General Amina J. Mohammed at the UN Economic and Social Council (ECOSOC) meeting mid-May.
  • by Thalif Deen (united nations)
  • Inter Press Service

In an advance warning of the upcoming cuts, the UN’s Deputy Secretary-General Amina Mohammed told a recent meeting of the Economic and Social Council (ECOSOC): “As Chair of the United Nations Sustainable Development Group, I am deeply troubled over recent decisions and proposals to markedly cut Official Development Assistance (ODA) to service the impacts of the war in Ukraine on refugees”.

UN Secretary-General Antonio Guterres, who was equally concerned about the impending reductions, has urged donor nations to reconsider making cuts that will affect the world’s most vulnerable.

The people who benefit from the work of the UN system need additional and more predictable funding, he added. “Contributions to key UN agencies, funds and programmes, working with people on the ground, are facing steep proposed reductions. Cuts to development and the United Nations mean scaling back support at a time when demand for support to meet the deepening development needs has reached an all-time high”.

He said ODA is more necessary than ever, and called upon all countries to demonstrate solidarity, invest in resilience, and prevent the current crisis from escalating further.

According to a UN report, titled 2022 Financing for Sustainable Development Report: Bridging the Finance Divide released last April, “the fallout from the crisis in Ukraine, with increased spending on refugees in Europe, may mean cuts to the aid provided to the poorest countries”

At a meeting in mid-May, the Group of Seven – comprising some of world’s biggest economies — Canada, France, Germany, Italy, Japan, UK and the US, plus the European Union– agreed to provide nearly $20 billion to support Ukraine and bolster its war-ravaged economy.

Separately the US has pledged over $40 billion in economic, humanitarian and military assistance to Ukraine since the Russian invasion last February.

The widespread fear is that the collective $60 billion assistance to Ukraine may result in corresponding reductions in ODA.

Bhumika Muchhala, senior advocate on global economic governance at the Third World Network, told IPS cuts to ODA at a time of a convergence of crises in the Global South is extremely concerning.

She said the pandemic is still ongoing, and health and economic recovery need immediate funds. Food security is being threatened by global supply disruptions, exacerbated by the war in Ukraine, creating urgent crises of malnutrition, hunger and even famine.

She also pointed out that climate change is creating catastrophes every day, from fatal heat waves to floods and droughts, while both existing climate financing as well as ODA commitments still remain unfulfilled by rich countries.

“Underpinning these crises is the surge in gender inequality, as women absorb the shocks and costs of global inequalities”.

“Making matters worse, a large number of developing countries are in debt distress or experiencing debt crisis, leading to another era of austerity that is already arresting the achievement of SDGs, resulting in a retrogression of poverty reduction that has taken many decades of hard-won economic and social development to achieve”. said Muchhala.

In light of the fact that every crisis in the South will ripple through the world economy with adverse effects for all, “rich countries have a collective duty to fulfill existing ODA commitments, as well as climate financing commitments and efforts to create genuine fiscal space for developing countries through equitable debt restructuring, international tax cooperation to eradicate illicit financial flows, and needs-based issuances of Special Drawing Rights,” she declared.

The Development Assistance Committee (DAC) of the Organization for Economic Cooperation and Development (OECD), comprising some of the world’s richest nations, has been providing development assistance since the 1960s.

According to OECD, ODA is defined as “government aid that promotes and specifically targets the economic development and welfare of developing countries”.

The DAC adopted ODA as the “gold standard” of foreign aid in 1969 and it remains the main source of financing for development aid.

The April UN report, 2022 Financing for Sustainable Development Report: Bridging the Finance Divide, said record growth of Official Development Assistance, increased to its highest level ever in 2020, rising to $161.2 billion.

“Yet, 13 countries cut ODA, and the sum remains insufficient for the vast needs of developing countries”.

But according to OECD, ODA rose to an all-time high of $178.9 billion in 2021, up 4.4% in real terms from 2020 as developed countries stepped up to help developing countries grappling with the COVID-19 crisis, according to the latest available figures.

This figure included $ 6.3 billion spent on providing COVID-19 vaccines to developing countries, equivalent to 3.5% of total ODA. Excluding ODA for donated COVID-19 vaccines, ODA was up 0.6% in real terms from 2020.

The 2021 ODA total is equivalent to 0.33% of DAC donors’ combined gross national income (GNI) and still below the UN target of 0.7% ODA to GNI.

The beneficiaries of ODA include the UN’s 46 least developed countries (LDCs), described as the poorest of the world’s poor. https://unctad.org/topic/least-developed-countries/list

Meanwhile, in a new report released May 24, the United Nations Development Programme (UNDP) warned of the direct and indirect impacts of the war in Ukraine on the African continent, which could further stall the continent’s development trajectory already significantly jeopardized by the COVID-19 crisis.

This report, entitled “The Impact of the War in Ukraine on Sustainable Development in Africa”, reinforces findings of the Global Crisis Response Group (GCRG) that the war in Ukraine is pushing the 2030 Sustainable Development Goals and the aspirations of the African Union’s Agenda 2063 further out of reach, and provides key recommendations for actions that need to be taken immediately, to avert further crises in Africa.

“Africa is facing a double crisis with the combined effects of the war in Ukraine and of the COVID-19 pandemic. However, with strategic partnerships, the crisis also presented the opportunity to rechart Africa’s development trajectory, breaking away from a dependency cycle” said Achim Steiner, Under-Secretary-General of the United Nations and UNDP Administrator.

“Now is a critical time for action. It is time to intensify efforts and reframe development finance, strengthen resilience in African economies, and foster economic transformation as a key driver for change in Africa.”

According to the report, some of the direct impacts of the crisis in Africa include trade disruption, food and fuel price spikes, macroeconomic instability, and security challenges. African countries are particularly affected due to their heavy reliance on imports from Russia and Ukraine.

The current hike in prices for food and fuel directly affects the entire continent, including the biggest economies, as food and fuel account for over one-third of the consumer price index in most African countries, (Nigeria 57 per cent, Egypt 60 per cent, Ghana 54 per cent, and Cameroon 42 per cent).

In 2020, African countries imported $4.0 billion worth of agricultural products from Russia, 90 per cent of which was wheat.

The full report is accessible

Daniel D. Bradlow, SARCHI Professor of International Development Law and African Economic Relations at the University of Pretoria told IPS: “I think the UNDP statement gives a good summary of the situation”.

“The impact of the war in Ukraine is having a devastating impact on Africa. If it continues it is likely to lead to hunger, increased poverty and serious debt crises across the continent,” he added.

“If the Western countries really wanted African support for the war in Ukraine, they should have taken steps to shield Africa and other parts of the Global South from the impacts of a European war. Instead, they are redirecting aid that could have gone to Africa to Ukraine and are cutting their aid budgets”.

He pointed out that the support that is being offered through the IFIs and others are likely to be in the form of loans rather than grants.

“This means that at the end of the day, the Western states are making African states pay for a conflict in Europe that suits their political agendas.”

In a statement last April, Jeroen Kwakkenbos, EU aid expert at Oxfam said donors have thrown out the rule book by counting vaccine donations in aid budgets.

“Over 350 million vaccine doses came from hoarded stocks, some of which, were donated far too close to their expiry date. Many more were donated without essential equipment such as syringes making them almost useless. Including these ‘donations’ in aid budgets inflates aid. It is merely donors patting themselves on the back for a job that may have cost lives,” he noted

“The war in Ukraine poses a risk to future aid budgets. Aid is already being pulled from countries like Syria to fund the reception of Ukrainian refugees in Europe.”

“We are left with the bizarre situation where European countries could become the largest recipients of their own aid. Instead of cherry-picking humanitarian crises, donor governments need to boost aid budgets to meet the challenges of today.”

IPS UN Bureau Report


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