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    The value-added tax brings in billions for other countries, but the U.S. doesn't have one

    The word “taxes” is seen engraved at the headquarters of the Internal Revenue Service (IRS) in Washington, D.C., U.S., May 10, 2021.Andrew Kelly | ReutersMany in Congress want to fix the country’s crumbling roads, bridges and other infrastructure.Lawmakers still haven’t agreed on how to pay for it.President Joe Biden has called for tax increases on the wealthy, including hikes on income and capital gains, along with estate tax reforms and increased IRS enforcement.Other policymakers have floated alternatives to Biden’s tax plans, such as boosting gas levies, which the White House has already opposed.But there’s another funding option that has been absent from negotiations: a value-added tax, or VAT, which is a duty on goods and services at each step along the supply chain. “The U.S. is the only major country that does not have a value-added tax,” said William Gale, co-director at Urban-Brookings Tax Policy Center.More from Personal Finance:Many wealthy Americans escape big income tax bills. Here’s how they do itAdvisors look to lessen toll of Biden’s retroactive capital gains tax hikeHow Biden’s tax plan may spark more charitable givingHow VAT worksVATs are similar to retail sales taxes, except there’s a levy at each step of the production process, rather than one tax at the end. For example, let’s say a farmer grows $100 of wheat and sells it to a baker. If there’s a 20% VAT on the sale, the baker pays $120, and the farmer remits $20 to the government. When the baker sells $5 loaves of bread, they tack on an extra $1 per loaf for VAT.As the baker files their tax return, they will remit the $1 VAT payments on bread and claim a $20 credit for the VAT they paid to the farmer. However, there is no credit for the VAT paid by the consumer.The VAT system creates a “self-reporting mechanism” where each company documents the activity of another, leading to higher levels of compliance, said Wojciech Kopczuk, an economics professor at Columbia University.A ‘workhorse’ for other tax systemsAnother reason why VATs work so well is the relative stability of the tax base, said Daniel Bunn, vice president for global projects at the Tax Foundation.”The government is not going to see huge swings in tax revenue from year to year,” he said.The pandemic, of course, may have been the exception. “But even in a pandemic, your consumption tax revenue doesn’t swing as widely as income,” Bunn said.VATs are the third-largest revenue producer for other member countries in the Organisation for Economic Co-operation and Development, behind personal income taxes and levies for social security-type programs, according to a Brookings Institution and Urban-Brookings Tax Policy Center report.  “It’s been a workhorse of the European tax systems,” said Gale.VATs have also been effective in developing countries because these levies are easier to administer and enforce than income taxes, he added.There are unique challenges that come with implementing VATs, however.Many countries exclude certain products or services from VAT, such as food, medicine or other necessities, said Kopczuk. There may be inconsistencies among excluded products, creating a burden for some businesses.Moreover, there are cases of tax evasion, particularly for cross-border purchases when someone receives a tax credit for VAT paid outside their home country.There are also instances of companies creating phony invoices to claim VAT credits for purchases along the supply chain that never happened, he said.”For example, in China, it’s a big problem,” Kopczuk said.Despite these issues, VATs collect a lot of revenue and seem to be working pretty well, he said.Why there’s no value-added tax in the U.S.Although VATs have been lucrative elsewhere, the levy faces political hurdles in the United States, said Bunn.  Some Democrats see the VAT as regressive because it hits families regardless of income, whereas Republicans may fight a broad-based tax increase, he said. Plus, it may also be a tough sell to lawmakers in states without a sales tax, Bunn added.The logistics of a VAT may also elicit pushback from the business community, Kopczuk said. More

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    How college athletes will be cashing in after Supreme Court NCAA ruling

    Notre Dame Quarterback Brandon Wimbush (7) runs with the ball under pressure from University of Miami Hurricanes Defensive Lineman Trent Harris (33) during the college football game between the Notre Dame Fighting Irish and the University of Miami Hurricanes on November 11, 2017 at the Hard Rock Stadium in Miami Gardens, Florida.Icon Sportswire | Icon Sportswire | Getty ImagesAs Brandon Wimbush sees it, his earnings power should have peaked in November 2017: ESPN used an image of him all week in onscreen promotions of a football showdown between Notre Dame and Miami, but Notre Dame’s then-starting quarterback didn’t see a dime from 65,303 tickets sold or the millions of dollars ESPN parent Walt Disney Co. pays for broadcast rights.Soon, Wimbush’s start-up, Fort Lauderdale, Fla.-based MOGL Corp., may begin to change that, thanks to laws working through state legislatures and Congress, and also to the unanimous Supreme Court decision on Monday that ruled against the NCAA in an antitrust case limiting the National Collegiate Athletic Association’s rights to bar college athletes from getting paid.The Supreme Court ruled that the NCAA had violated antitrust rules and should pay student-athletes for education-related benefits, though it did not rule on broader compensation questions, and in the decision said legislation may be needed to address remaining issues. But it is one more step in a multiyear battle to chip away at the definition of “amateurism” used to keep collegiate athletes from making money from the sports in which they excel.The NCAA had argued that limits on athlete pay don’t violate antitrust laws because they promote consumer choice by distinguishing the college game from professional sports leagues. The case decided Monday covered whether athletes can be paid for their services, beyond the basic cost of attendance, and whether the NCAA’s rules against it violate antitrust laws. The case technically does not cover payment for endorsements, as new state laws do, but experts expect Congress to act on that shortly after the decision.On July 1, Florida and Alabama will become the first states to overrule the NCAA on some of those broader pay issues and authorize athletes to make money off their name, likeness and image — including traditional endorsements, personal appearances and social media opportunities. MOGL is positioning itself as the first online marketplace to match college athletes with marketers to exploit their new rights, as Congress considers nationwide rules. A long list of states are planning moves later on to open the market for collegiate athletes to make marketing deals, including New Mexico, Mississippi and Georgia.”I was that college athlete, I experienced that lack of opportunity,” Wimbush says. “The Miami game was one of the most-hyped games. I could have done a lot.” MOGL is an audible for Wimbush, a former five-star recruit who hoped to be in the National Football League by now. The 24-year-old from national powerhouse St. Peter’s Prep in Jersey City was New Jersey’s Gatorade Player of the Year his senior year, beating teammate Minkah Fitzpatrick, now an All-Pro safety for the Pittsburgh Steelers. He’s also the son of a divorced mother who worked as a nurse. Like many athletes, he talks about having seen sports as a means to take care of his family, a goal frustrated by the NCAA’s ban on his profiting off his college playing career.Most athletes’ brands reach peak value in collegeAs he came to grips last year with the idea that he wouldn’t be picked in the NFL draft, he was approached by Ayden Syal, a friend from Notre Dame who was then working in private equity, who had the beginnings of the idea for MOGL.  “Even though he went to [St. Peter’s archrival] Seton Hall Prep, he was a good guy, and it was an idea I could get behind,” said Wimbush, who majored in accounting while Syal studied consulting. If it works, the company could change the balance of power in collegiate athletics between schools and athletes by helping athletes make a living while in school, Syal says. It also may help colleges build ties to local communities by having athletes promote local businesses, countering the NCAA’s longstanding argument that fans like college sports because athletes don’t get paid. “In 99.9 percent of cases, college is when the value of athletes’ brands happens to be the highest,” Syal said. Their site is a platform where athletes will effectively serve as their own agents, Syal said, matching their name, image and likeness to the listings from businesses, usually small businesses in or near college towns. MOGL weeds out businesses the NCAA would consider boosters trying to disguise illegal inducements to pick a specific school. That’s different from traditional agents who solicit bigger-dollar opportunities for a handful of top stars. If it works, the partners say, they’ll make much smaller deals but many more of them.We’re not going to get Trevor Lawrence his ‘Head and Shoulders’ deal that will be worth millions. We’re the local source.Ayden Syal, MOGL co-founderThe idea is to connect the second tier of college athletes with mostly local businesses, such as car dealers and restaurants. Wimbush and Syal think marquee stars such as Clemson quarterback Trevor Lawrence, picked No. 1 in the 2021 NFL Draft by the Jacksonville Jaguars, and his successors at the top of the competitive mountain will sign with traditional agents in the world of paid college athletes that is about to dawn.”We’re not going to get Trevor Lawrence his ‘Head and Shoulders’ deal that will be worth millions,” said Syal, referring to Lawrence’s shoulder-length blond mane. “We’re the local source.”One of their first clients is the Orlando North Seminole County Office of Economic Development and Tourism. The office worked through MOGL to contract three players for the National Women’s Soccer League’s Orlando Pride to promote a national youth soccer tournament through podcasts, videos and other social media. That effort supported a $33 million investment Seminole County has made in youth sports facilities to draw visitors, said tourism director Guilherme “Gui” Cunha.”I absolutely love everything they’re doing,” said Cunha, a former college football player and high school coach himself. “Spending $6,000 to get three athletes was a steal.”Orlando Pride players featured in a local government economic development and tourism marketing campaign. From left: Bridget Callahan (holding soccer ball, Orlando Pride), Brandon Wimbush (MOGL co-founder), Carrie Lawrence (Orlando Pride), Jordyn Listro (holding soccer ball, Orlando Pride), Karen Aplin (black mask, Orlando North Seminole County), Jessica Pickering (pink mask, Orlando North Seminole County).Karen Aplin | Orlando North, Seminole CountyWimbush and Syal have interns handling sales on campuses, Wimbush said, promoting MOGL in states where legislatures have passed laws, not yet in effect, to authorize athletes to cash in on their name, image and likeness despite the NCAA’s rules. Florida’s and Alabama’s laws will take effect first, but 13 states including California have passed similar laws, effective between now and 2023.The largest number of states passing such laws so far are in the Southeast, home to high-profile Southeastern Conference athletic programs such as the University of Alabama, Auburn University, University of Georgia and University of Florida. To date, Wimbush and Syal claim to have about 500 athletes signed up, though their identities won’t be released until the laws take effect in their states. For the athletes to endorse MOGL publicly before the laws take effect would violate NCAA rules.Wimbush’s ability to be the public face of a company is unsurprising to people who have followed his career. From his freshman year at Notre Dame he landed big-company internships. Tim Zanni, former head of accounting firm KPMG’s technology practice, called Wimbush the most impressive intern he’d hired in 17 years. Wimbush also counts former NetApp vice chair Tom Mendoza, for whom Notre Dame’s business school is named, as a mentor and spent a summer at venture capital firm Accel Partners.NCAA and college sports laws are changingThe law around amateur athletics is changing rapidly as courts and legislators expand athletes’ rights to be paid more of the estimated $8 billion in revenue it generates, dominated by football and basketball, said Florida attorney Darren Heitner. Heitner helped write the state’s law permitting athletes in the state to make endorsement deals and barring the NCAA from stopping them.Congress and President Joe Biden are likely to have the final word on what the rules for the new world of college athletics will be, a stance Heitner said is favored by the NCAA, which would rather not face multiple state standards.NCAA spokeswoman Stacey Osburn didn’t respond to e-mails seeking comment.Seven federal bills have been introduced on the topic. Democrats led by Sens. Cory Booker of New Jersey and Richard Blumenthal of Connecticut have proposed a measure that would require half of adjusted revenue to be shared with athletes, an arrangement similar to collective bargaining agreements in the National Basketball Association. Sen. Roger Wicker, R-Miss., has proposed less-sweeping changes that exclude revenue sharing but would let athletes do endorsements and paid appearances.An aide involved in the legislation said the two parties are working on a compromise to expand athletes’ compensation, commercial opportunities and health-care coverage but will likely stop short of revenue sharing. The aide declined to be named because the aide was not authorized to be an official source on the topic and did not want to disrupt the ongoing negotiations.Capitol Hill’s push will likely make the NCAA propose its own changes, said John Heisler, senior associate athletic director at the University of Central Florida, where Wimbush, who spent his last year of eligibility playing for the Knights, is targeting current athletes.”We all anticipate something coming from the NCAA soon,” said Heisler, noting that many proposals to let athletes make off-the-field deals violate existing NCAA rules. UCF needs to know the final rules before it can evaluate proposals to partner with commercial entities that are interested or counsel athletes about how they should move forward, Heisler said.How local markets become big gameSeminole County’s Cunha has one idea, which he says illustrates how a platform like MOGL may work over time.He hopes to use local athletes to lure more tourists, in the immediate future from Hawaii, exploiting the fact that both UCF and Florida State expect to start quarterbacks from the Aloha State this fall. He noted there is a direct flight from Hawaii to Orlando, and Hawaiians tend to behave like international tourists who stay in town longer and spend more money than visitors from closer by.Seminole County plans to sign an amateur athlete on July 1, though Cunha could not be more specific because he has not been allowed to have direct contact with the athlete — he is only allowed to speak with MOGL until the Florida law takes effect. The Supreme Court decision and any future changes from the NCAA are irrelevant to Florida, he said.”I can see the NCAA wanting to slow play this, but we want to show that we support our athletes and this is a valuable market for us,” he said. “We can’t chase an athlete from the Orlando Magic. This is space we want to live in, the amateur athlete space.”The NCAA is likely to take action ahead of July 1. The organization has had an NIL — or name, image, likeness — proposal that is ready for a vote since January, but that was delayed due to antitrust concerns. NCAA President Mark Emmert has said he wants the governing bodies in college sports to approve new rules before the state laws go into effect, a decision that could come during the next meeting of the council that oversees Division I sports on June 22-23.The NCAA could also look to challenge the state rules in court. Other college sports executives, such as SEC Commissioner Greg Sankey, have called for Congress to set a standard that would override state laws.Cunha said MOGL has a chance to end up like tech start-ups that build out a technology that bigger rivals don’t have, create a market that the big players always considered too small to serve with traditional business models, and ultimately become attractive M&A targets. He predicts MOGL will attract thousands of athletes to its platform, prove it can match athletes with small opportunities in bulk, and attract an offer from agency titans that now focus on making big deals for a relatively small number of elite athletes.”With this innovation, I think they’ll get bought out within 24 months of the new [NCAA] rules,” Cunha said, naming agencies such as IMG and William Morris as potential suitors. “This will be an easy purchase for them.”Syal and Wimbush stop short of that. Their two-year goal is to establish themselves as a business that high-school athletes think of as the place to help them begin brand-building while in college, operating nationwide as new laws allow it. To do that, they need to build ties with businesses and with the NCAA as well as athletes, Syal said.”Our access to athletes at scale does make us an attractive acquisition target for a company looking to enter the collegiate space,” Syal said. But, he added, “what will be the most important over the next 24 months is achieving a critical mass of athletes and opportunities on the platform.” More

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    Dr. Scott Gottlieb worries about spread of delta Covid variant among kids in schools this fall

    Dr. Scott Gottlieb told CNBC on Monday the highly transmissible delta Covid variant, first discovered in India, could present challenges to U.S. schools this fall given lower vaccination rates among children.”I think the reality is that kids are becoming more likely to be vectors of these new variants,” the former Food and Drug Administration commissioner said on “Squawk Box.”It’s only been a little more than a month since the FDA cleared Pfizer’s Covid vaccine for use in kids ages 12 to 15. Moderna, also a two-shot regimen, asked the FDA to expand its emergency use authorization to cover adolescents from 12 to 17. Pfizer’s EUA initially covered 16 and up, while Moderna’s is for 18 and older.”The old assumptions about children and children [not] driving community spread were based on the original strain of this virus,” he added. “With these new, more contagious variants, I think we’re going to see that children and schools do become more of a focal point of spread.”There are trials testing Covid vaccines in younger populations. Pfizer and its German partner BioNTech expect to have data for children ages 5 to 11 in the coming months.Gottlieb pointed to coronavirus case data in the U.K., where the delta Covid variant is more prevalent than in the U.S. and led to Prime Minister Boris Johnson delaying the nation’s reopening. In the U.K., the test positivity rate for people under the age of 24 is significantly higher than it is for people over the age of 65, a cohort with more vaccine protection, Gottlieb said.”There are some hopeful signs, but it is an epidemic among schools, among younger people who are unvaccinated. Older people who are vaccinated are not the ones spreading this and, by and large, they’re not getting as sick,” Gottlieb said.”The case fatality rate is way down, not necessarily because this is a less dangerous variant. We don’t believe that that’s the case,” he added. “The case fatality rate is down substantially because the people who would succumb to the virus are, by and large, vaccinated.”Gottlieb said the accumulating evidence around the delta variant’s risk to unvaccinated people is unlikely to dramatically change how the FDA approaches clearing Covid shots for children. It was already a priority and will remain that way, said Gottlieb, who led the FDA from 2017 to 2019 in the Trump administration.However, he said the public health campaigns around administering the vaccines to kids, once they’re eligible, may take on increased focus due to the delta variant.”I think trying, especially, [to get] teenagers vaccinated is going to be important because the schools will become more focal points of spread and a more transmissible strain that infects more children, even if it’s not more dangerous, you’re going to see more bad outcomes,” Gottlieb said.”It’s just math that if more kids get infected, even if the rate of bad outcomes in kids is very low, more kids are going to have bad outcomes because more of them are getting infected,” he said.Gottlieb added that he hopes schools do have some policies in place this fall to try limiting Covid spread. “Whether it’s masks or just some distancing and good prudent practices within the schoolhouse, I think smart schools are going to start the school year with some form of mitigation until they figure out which way this goes.”Reopening schools for in-person instruction has been contentious throughout the pandemic. Citing multiple studies, the Centers for Disease Control and Prevention says on its website that when appropriate mitigation strategies are implemented, “transmission within school settings is typically lower than – or at least similar to – levels of community transmission.”Disclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic testing start-up Tempus, health-care tech company Aetion and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings’ and Royal Caribbean’s “Healthy Sail Panel.” More

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    Salad chain Sweetgreen confidentially files for initial public offering

    A worker wears a Sweetgreen Inc. hat while preparing food inside the company’s restaurant in Boston, Massachusetts.Adam Glanzman | Bloomberg | Getty ImagesSalad chain Sweetgreen has confidentially filed for an initial public offering.Founded in 2007, Sweetgreen is seen as a healthier alternative to fast food. A planned debut had been rumored for years, but it comes as the coronavirus pandemic fueled an increase in its digital sales. Axios first reported the news.The chain is a favorite of both busy office workers and investors. The company’s last funding round earlier this year valued it at nearly $1.8 billion. Sweetgreen told The New York Times that its 2019 revenue topped $300 million.Like its rival Chipotle Mexican Grill, Sweetgreen has leaned into technology to fuel sales growth even before the health crisis made it necessary. The salad chain invested in its mobile app and formatted its restaurants to make picking up digital orders as easy as possible to cut down on the long lines that snaked through its stores during lunch hour.The pandemic has also spurred other big changes for Sweetgreen, like the acceleration of its plans to start building locations with drive-thru lanes. The pilot restaurant is slated to open this winter in Highlands Ranch, Colorado. It has also been pushing into the suburbs after its first decade focused on urban areas. More

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    Amazon Prime Day is on. These are the deals you can skip

    In this articleAMZNAmazon Prime Day is underway. But not every deal is as good as it seems.The two-day shopping event, which started early Monday and runs through 3 a.m. ET Wednesday, is offering more than 2 million deals — and some are better than others.”That is an incredible number,” said Dave Kender, the editor in chief of Reviewed, but “most of the products are not that interesting.”Here are some of those discounts you may want to skip:Pass on deals that are too good — or not good enoughWhile some of the biggest markdowns are on Amazon-branded products, including Fire TVs starting at $99.99, other budget TVs aren’t as good, according to Nathan Burrow, the senior deals editor at Wirecutter.”Look out for smaller discounts on quality options that will last you longer,” he said.Some savings are pretty insignificant, according to Casey Runyan, the managing editor for Brad’s Deals.”Don’t feel like you have to buy something because it’s Prime Day,” she said.Avoid the hypeBurrow predicted air fryers could be one of the most popular items overall, outshining even the Instant Pot, which has remained one of the hottest sellers for years.And yet, such items are often “overhyped,” he said. Burrow recommends “a nice convection toaster oven over an air fryer — it’s more versatile.” While a hot deal may catch your eye, look for savings on everyday essentials, such as lightbulbs and toilet paper, Kender said. “Unsexy products are also on sale right now.””It’s the television deal or the Instant Pot deal that gets you in the door, but before you hit purchase, you can pick up a bag of coffee,” he said.Remember: This isn’t the only chance to get a good dealJust because something is discounted on Prime Day, doesn’t mean it’s the best deal you’ll see anywhere, or even all year.In fact, some of the best bargains are not exclusive to Amazon at all.Walmart, Target, Best Buy and other retailers are holding competing deals events — as they have in previous years — to coincide with Amazon Prime Day 2021.More from Personal Finance:Amazon Prime Day: These are the top deals so farBe careful with ‘buy now, pay later’ appsWhy you might want to hire a travel advisorBest Buy is selling the Roku Express for just $29.99 and Jabra earbuds for $179.99, a $50 discount. During Office Depot’s discount days, which run from June 21 to June 23, an Acer Chromebook is marked down 25% to $169.99. And while Amazon is offering 50% off Levi jeans, so is Levi.com.Further, prices on mattresses and outdoor furniture will likely be even lower around Labor Day, toys get marked down further on Black Friday and Cyber Monday, and televisions generally hit their lowest price point ahead of Super Bowl Sunday.Be wary of unknown brandsShoppers should also carefully consider off-brands, Burrow added, especially when it comes to tech accessories such as headphones or household appliances. “We see deep Prime Day discounts on unknown brands right alongside sales on known and reliable brands,” he said.Read user reviews as well as price histories so you can determine how good the product — and discount — really is, Kender said. As a rule of thumb, look for 1,000 reviews or more with 4.5 stars or greater, he suggested.”You can’t concentrate on the short savings, you’ve got to concentrate on the long dollar,” Kender said.Amazon Prime Day 2021 coverageRead more about what Amazon and others have planned for this year’s sales events:Supply chain snafus could affect what’s available to you on Amazon Prime DayTarget looks to lure shoppers with deals on groceries in its Prime Day rival saleAs e-commerce sales proliferate, Amazon holds on to top online retail spotAmazon Prime Day 2021: Best deals and sales to shop nowSubscribe to CNBC on YouTube. More

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    Harry Kane: Man City make £100 million transfer bid for Tottenham striker

    Harry Kane of England scores a penalty in a shootout at the end of extra time during the 2018 FIFA World Cup Russia Round of 16 match between Colombia and England at Spartak Stadium on July 3, 2018 in Moscow, Russia. Robbie Jay Barratt – AMA/Getty ImagesManchester City have made a £100m bid for Tottenham striker Harry Kane.City are open to including players in addition to the cash offer, but Tottenham are expected to reject the bid.Sky Sports News exclusively reported last month that Kane had told Spurs he wanted to leave this summer with Man City, Manchester United and Chelsea interested.Kane is valued at upwards of £120m and Tottenham keen to keep him despite the 27-year-old believing he has a gentleman’s agreement with Daniel Levy.The England captain is said to be fully focused on the Euros, with a decision on his club future not expected before the conclusion of the tournament.Man City chairman Khaldoon Al Mubarak said after last month’s Champions League final that the club will be “competitive and aggressive” this summer, and are aiming to strengthen by bringing “quality to the squad in a couple of key positions”.The Premier League champions’ priority is to replace Sergio Aguero, with Kane being considered along with Erling Haaland, Romelu Lukaku and Lautaro Martinez.Man City begin their Premier League title defense by travelling to Tottenham on August 15, live on Sky Sports.Kane insists that neither a lack of fitness nor speculation over his future at Tottenham have been the reasons for his disappointing start to Euro 2020.Kane was substituted in England’s opening win over Croatia and their underwhelming 0-0 draw with Scotland following below-par performances in both games.His displays have come as a surprise given he enjoyed an impressive season with Spurs, topping the Premier League charts for goals and assists, despite his club’s struggles.And while he did sustain a couple of ankle injuries during the campaign, he returned from the most recent of those nearly two months ago, and was a regular for Spurs until the end of the season.Kane won the Golden Boot at the 2018 World Cup – a factor that has only added to expectations on him at Euro 2020 – and although he admits he became fatigued in Russia three years ago, he says that is not the problem this time around.”Gareth [Southgate] is within his rights to make the changes he thinks are best for the team,” Kane told The Guardian when asked for his reaction to being replaced in both of England’s games so far.”What we’ve learned over past tournaments is about trying to peak at the right time. The best time to be peaking is in the knockout stages and hopefully kick on from there.”Maybe in Russia there were times, towards the quarter and semi-final, when I wasn’t as sharp as I wanted to be. In the end we didn’t get to where we wanted to go, maybe partly for that reason.”It’s about managing the squad, making sure everyone is feeling as fit and sharp as possible. In my case, it was a tough couple of games and it’s about making sure I’m right for the rest of them.”I didn’t have any issues. I didn’t feel physically I wasn’t up to it. I felt going into those games as good as I’ve felt all season, if I’m honest.”Read more stories from Sky SportsWriters’ picks: What changes should Southgate make?Joshua: Fury let the whole boxing world downWho could England, Scotland and Wales play in last 16?Although Kane was one of the standout players in the Premier League during the 2020/21 season, Spurs endured a difficult campaign, finishing seventh in the table, without a trophy or a manager, having sacked Jose Mourinho in April.The club was also rocked by the news that Kane had told them he wanted to leave this summer due to their failure to regularly compete for – and win – trophies.Manchester City, Manchester United and Chelsea are all understood to be keen on signing the striker but, despite his future promising to be one of the main plotlines of this summer’s transfer window, Kane says it is not affecting his international performances.”Absolutely not,” he insisted. “All my focus is on how I can help this team and how we can be successful in this tournament.”I understand from a media point of view there is speculation, but I am fully focused on the job here.” More

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    Bad at public speaking? Use this mental trick that takes just 15 minutes, says speech expert

    Speech anxiety is one of the most common social fears, affecting 15% to 30% of the general population.After a difficult speech or two, most of us assume that we’re just shy, then hope that we’ll never be forced to speak in public again. And when, inevitably, it’s time to hold a meeting, do a job interview or deliver a pitch, we freeze in front of the people we most want to impress.But improving your public speaking skills has nothing to do with changing your personality or your emotions — and everything to do with understanding how people listen.A simple mental trickMany people approach public speaking with their egos: “What will they think of me? I’m going to sound dumb!” But our audience isn’t thinking about us. Their biggest concern is figuring out what we’re talking about and how it pertains to them.I’ve coached thousands of people on how to present ideas effectively, and everything I teach boils down to a single mental trick that takes just 15 minutes or less: Pretend you’re in the audience, listening to yourself.Here are some tips and what to remember when imagining yourself as the audience:1. Greet themHow do you like it when a speaker takes the stage and lurches directly into their talk, rattling on in a monotone with no introduction?When you begin to speak without acknowledging your audience’s existence, they find the omission unnerving. Why? Because you’re not the only one with an ego.Rightly or not, your audience thinks they’re more important than your information. Before any kind of speech, do them the courtesy of giving them a nod, a hello, a thanks or a recognition of the occasion.2. Get to the point, then lead the wayDo you like to listen to a presenter apologize about how nervous they are, or about the traffic jam they encountered on the way to the speech? Or their quaint family story that has nothing to do with what they’re going to talk about?Most audience members find it hard to focus and to suppress their inner chatter to listen to a speaker for very long, so skip the small talk.Help them concentrate by explaining early in your speech what your topic is, why it’s important to them and how you plan to fill your allotted time. It sounds so simple, but setting expectations helps people relax and enjoy the ride.3. Be legible — in every senseWhen you’re sitting in an audience, do you like it when you can barely see or hear the speaker, or read the slides (e.g., because the text is too small)?Whether on stage or in virtual meetings, help people understand your ideas by reducing the cognitive work it takes to see and hear you. Use good lighting and a decent microphone. Speak slowly, enunciate, and use short words, sentences and paragraphs.Lastly, get rid of filler words like “um,” “ah,” “like” and other expressions that can distract from or bloat your message when used in excess.4. Share what you think or how you feelHave you ever sat in a meeting where a speaker projects one slide after another filled with data, while turning their back to you to recite what’s on their slides?  Whether you’re a scientist delivering research findings or an executive pitching a strategy, the point of a live meeting or presentation is not to recite information that could just as easily be emailed, but to create a human context. Audiences want to know at least something about how you think and feel about what you’re sharing.More importantly, they’re curious about how you think they should think and feel about it. Information doesn’t speak for itself. Make it meaningful by explaining what it means — to you, your company and the people who asked you to talk about it.  5. End your speech … with an endingEver hear a presentation that just peters out? (“Yeah, no, so I guess, you know, that’s it. If, um, anyone has any, uh, questions…”) It probably didn’t make you think: Wow. How authoritative!Whether you’re facing a parole board or delivering Q4 sales results, your speech is only as good as your conclusion. There’s no single best way to wrap up, but my general rule is to always write out your conclusion in advance and memorize it.A conclusion should remind the audience what the speech was about, and often reiterates a call to action. Look them in the eye and give them something to remember after the presentation is over.John Bowe is a speech trainer, award-winning journalist, and author of “I Have Something to Say: Mastering the Art of Public Speaking in an Age of Disconnection.” He has contributed to The New Yorker, The New York Times Magazine, GQ, McSweeney’s, This American Life, and many others. Visit his website here.Don’t miss: More

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    Bitcoin sinks to two-week low as China intensifies crypto mining crackdown

    In this articleBTC.CM=A bitcoin mine near Kongyuxiang, Sichuan, China on August 12, 2016.Paul Ratje | The Washington Post | Getty ImagesBitcoin sank Monday on reports that China has intensified its crackdown on cryptocurrency mining.The world’s largest digital currency fell 7% to a price of $32,801 Monday morning, dropping below $33,000 for the first time since June 8, according to data from Coin Metrics. It was last trading at $33,243 as of 5:50 a.m. ET. Smaller rivals like ether and XRP also tumbled, down 8% and 7% respectively.Many bitcoin mines in Sichuan were shuttered Sunday after authorities in the southwestern Chinese province ordered a halt to crypto mining, according to a report from the Communist Party-backed newspaper Global Times. More than 90% of China’s bitcoin mining capacity is estimated to be shut down, the paper said.Bloomberg and Reuters also reported on the move from Sichuan authorities. It follows similar developments in China’s Inner Mongolia and Yunnan regions, as well as calls from Beijing to stamp out crypto mining amid worries over its massive energy consumption.Separately, China’s central bank said Monday it had summoned Alipay, the payments service run by Alibaba affiliate Ant Group, and some major banks urging them to crack down on crypto trading. China had already banned financial institutions from providing crypto-related services.China’s crackdown appears to have led to a significant decline in bitcoin’s hash rate — or processing power — which has fallen sharply in the last month, according to data from Blockchain.com. An estimated 65% of global bitcoin mining is done in China.Bitcoin’s network is decentralized, meaning it doesn’t have any central party or middleman to approve transactions or generate new coins. Instead, the blockchain is maintained by so-called miners who race to solve complex math puzzles using purpose-built computers to validate transactions. Whoever wins that race is rewarded with bitcoin.This power-intensive process has led to growing concerns over the potential environmental harm of bitcoin, with everyone from Tesla CEO Elon Musk to U.S. Treasury Secretary Janet Yellen raising the alarm. China, where most bitcoin mining is concentrated, relies heavily on coal power. Last month, a coal mine in the Xinjiang region flooded and shut down, taking nearly a quarter of bitcoin’s hash rate offline.However, miners in China often migrate to places like Sichuan, which are rich in hydropower, in the rainy season. And some industry efforts have been launched — including the Bitcoin Mining Council and the Crypto Climate Accord — in an effort to reduce cryptocurrencies’ carbon footprint. More