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Sudharma Times
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{ 26 July 2020 ~ 1 august 2020 } |
Political News
~by RISHABH
1. Want to push for
continued advancement of China-Nepal ties: Xi Jinping.
-1 August 2020
Chinese President Xi
Jinping on Saturday said he wants to push for a continued advancement of ties
with Nepal amidst Beijing’s sustained forays to shore up pro-China Prime
Minister K P Sharma Oli grip on power in the backdrop of intra-party feud in
the ruling communist party.
In an exchange of
congratulatory messages with his Nepalese counterpart Vidhya Devi Bhandari on
the 65th anniversary of the establishment of diplomatic
relations, xi asserted that he was ready to work to bring greater benefits to
the two peoples of the two neighbouring countries.
The Chinese President
said that he attaches great importance to the development of China-Nepal
relations and is willing to work with his Nepali counterpart Bhandari to push
for the continued advancement of the bilateral relationship.
2. ‘Don’t want to wait
for 3 months and then find out ballots were missing’: Donald Trump.
-31 JULY 2020
US President Donald
Trump on Thursday (local time) said he doesn’t want to delay the November
election but expressed doubts about ‘mail-in voting’.
‘I don’t want a delay; I
want to have the election. But I also don’t want to have wait for three months
and then find out that the ballots were all missing and missing and election
doesn’t mean anything,’ said the US President at a press conference.
‘Do I want to see a date
change? No. But I don’t want to see a crooked election. This election will be
the most rigged election in history if that happens,’ Trump was quoted as
saying by The Hill, referencing widespread mail-in voting.
‘With Universal Mail-In
Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE
& FRAUDULENT Election in history. It will be a great embarrassment to the
USA. Delay the Election until people can properly, securely and safely vote???’
Trump had earlier said in a tweet.
3. Pakistan indulging in
activities to deflect attention from support to terror: India.
-30 JULY 2020
As Pakistan plans to
hold protests to mark one year of the scrapping of Article 370, India on
Thursday said the neighbouring country indulges in such activities to divert international
attention from its support to cross-border terrorism in Jammu and Kashmir.
August 5 will mark the
first anniversary of India’s decision to abrogate Article 370 of THE India
Constitution from Jammu and Kashmir and to bifurcate the state into two union
territories.
‘They indulge in
activities from support to cross border terrorism,’ external affairs ministry
spokesperson Anurag Srivastava said at an online media briefing, replying to a
question on Pakistan’s planned activities to protest India’s action of
scrapping of Article 370 on its first anniversary next week.
4. Trump tweets in
defense of disproved Covid-19 treatment.
-29 JULY 2020
President Donald Trump
issued a stout defense Tuesday of a disproved use of a malaria drug as a
treatment for the corona virus, hours after social media companies moved to
take down videos promoting its use as potentially harmful misinformation.
The president, in a
marked shift from the more measured approach he’s taken toward the virus in
recent days, took to Twitter to promote hydroxychloroquine as a treatment for
Covid-19, the disease caused
by the virus, and to amplify criticism of Dr Anthony Fauci, the nation’s top
infections disease expert. In a White House briefing, Trump defended his
decision to promote a viral video of a group of doctors promoting the use of
the drug Monday, even though his own administration withdrew emergency
authorization for its use against the corona virus.
5. Indian-origin
politician Pritam Singh appointed of Opposition in Parliament.
-28 JULY 2020
Indian-origin politician
Pritam Singh was on Tuesday designated as the Leader of the Opposition in
Singapore, the first such appointment in the history of the city-state.
The 43-year old Singh’s
Worker’s Party won 10 parliamentary seats out of the 93 contested in the
biggest opposition presence in Singapore’s Parliament.
Singh is the
Secretary-General of Worker’s Party. Singapore’s legislatures have never had
formally designated Leaders of the opposition, and such a position is not
provided for in the Constitution or the Standing Orders of Parliament,’ the
parliamentary offices said in its statement on Tuesday.
6.Be more like Pakistan,
China tells Afghanistan and Nepal at four-country meet.
-27 JULY 2020
China on Monday urged
Afghanistan, Nepal and Pakistan to forge ‘four-party cooperation’ to overcome
the Covid-19 crisis and continue work on projects under the Belt and Road
Initiative (BRI), including the China-Pakistan Economic Corridor (CPEC).
Presiding over a virtual
meeting with his counterparts from the three countries, China’s foreign
minister Wang Yi said the four status should work together to extend CPEC to
Afghanistan.
The video conference,
organized by Beijing ostensibly to discuss the Covid-19 pandemic, was held
against the backdrop of the months-long India-China border standoff.
Given India’s currently
strained ties with Nepal, the meeting is unlikely to go down well with the
foreign policy establishment in New Delhi.
7. Senior UN official
skips Pakistan visit, citing flight issue.
-26 JULY 2020
The incoming president
of the United Nations General Assembly announced Sunday that he was postponing
a scheduled visit to Pakistan ‘due to some technical flight problems.’
Turkish diplomat Volkan Bosker
was elected president of the 75th session of the United Nation
General Assembly last month and was scheduled to arrive in Islamabad on Sunday.
But in a Twitted post,
he said the visit to Pakistan’s capital would have to wait.
Pakistan’s foreign minister shah Mehmood Qureshi tweeted in response to Bosker that ‘I look forward to welcoming you to Pakistan soon for a constructive and fruitful visit.’
Health News
~by NIKHIL
-26 JULY 2020
Nearly nine out
of 10 Americans believe there is still stigma around HIV, while 59% think it is
important to be careful around people who are HIV positive, a study published
on Monday found.
Half the 2,506
American adults questioned in the survey, for media advocacy group GLAAD and
pharmaceutical company Gilead, felt knowledgeable about HIV, while six out of
10 believed it could be treated.
“People living
with HIV today are leading long, healthy lives ... but the stigma that they
face has persisted for far too long and leads to harmful discrimination,” said
GLAAD president and chief executive Sarah Kate Ellis in a statement.
“HIV issues have
flown under the radar, but with advances in treatment and prevention, we
urgently need to educate the public on the facts about HIV today.”
As of 2018,
there were about 1.2 million people living with HIV in the United States,
according to the United Nations.
Deaths from
AIDS, the disease caused by HIV, have fallen sharply since the peak of the
pandemic in the mid-1990s, U.N. data shows, with fewer than 8,000 Americans
succumbing to the disease each year.
Although there
is no cure for HIV, the virus can be treated with antiretroviral medication,
making it undetectable when there are too few copies of it in the blood to show
up on standard blood tests.
According to the
U.S. Center for Disease Control and Prevention (CDC), a person taking HIV
medication as prescribed has virtually no risk of transmitting the virus to
sexual partners.
Despite this,
59% of Americans, including more than half of LGBT+ Americans, surveyed agreed
that “it is important to be careful around people living with HIV to avoid
catching it”.
Only about a
third of those surveyed said that someone living with HIV “shouldn’t have to
tell others” about their condition.
About half of
all Americans, and 40% of LGBT+ Americans, said they would be uncomfortable
having a partner or spouse with HIV.
“This new survey
gives us valuable insight into the role stigma plays as a barrier to care,”
said Amy Flood, senior vice president of public affairs at Gilead, by email.
“The solution
will require collaboration between the entire community fighting this
epidemic.”
The GLAAD study
was conducted online between November and December last year.
(This story has
been published from a wire agency feed without modifications to the text. Only
the headline has been changed.)
2.Does being fatter
increase severe Covid-19 risk? Study finds possibilities
-27 JULY 2020
Evidence
emerging around the world suggests that people who are overweight or obese are
at increased risk of getting more severely ill with Covid-19, the disease
caused by the SARS-CoV 2 coronavirus.
Scientists are
still learning about which specific mechanisms might explain this link, but
they say some likely factors are:
FAT ADDS STRAIN
- Obesity leads
to fat accumulation in vital organs like the heart, and leads to insulin
resistance and high blood pressure. This means obesity often coincides with
other health conditions, including diabetes, a weaker heart, and less
well-functioning liver and kidneys.
- Excess fat can
also affect the respiratory system. In other words, it can make someone
breathless and less able to get oxygen into the blood and around the body. It
is also likely to have an effect on inflammatory and immune functions.
- “Obesity puts
extra pressure and metabolic strain on almost every organ system of the body,”
said Susan Jebb, a professor of diet and population health at Britain’s Oxford
University. “So it’s perhaps not surprising that it also exacerbates the risk
of Covid-19 complications.”
FATTY TISSUE
- Fatty tissue -
also known as adipose tissue - has high levels of an enzyme called
angiotensin-converting enzyme, or ACE2, which is used by the new coronavirus to
enter cells.
People with
higher levels of ACE2 in their blood and other tissues are likely to be more
susceptible to Covid-19 infection.
TWO ‘PANDEMICS’
CLASH
Francesco
Rubino, an expert on obesity and chair of metabolic and bariatric surgery at
King’s College London, calls the Covid-obesity link a “clash of two pandemics”.
“The
(coronavirus) pandemic really brings to the fore the need to tackle obesity
more aggressively,” he said. “One lesson from the pandemic of Covid-19 is that
not treating obesity is not an option.”
3.Coronavirus pandemic |
43% Indians suffering from depression: Study
-28 JULY 2020
Ever since the
pandemic hit India over five months back, followed by an unprecedented
lockdown, stress levels have been on the rise with 43%Indians suffering from
depression, according to a new study.
Conducted by
GOQii, a smart-tech enabled preventive healthcare platform, the study surveyed
over 10,000 Indians to understand how they have been coping with the new normal.
According to the study, 26 per cent respondents were suffering from mild
depression, 11% were feeling moderately depressed, and six% were facing severe
symptoms of depression.
“The last five
months have been unexpected. The situation has taken a major toll on the mental
health of citizens. With the series of lockdowns, anxiety, job cuts, health
scares, and the overall volatile environment, stress levels are at an all-time
high. Copious amounts of stress can lead to depression. With the current
lockdown and lifestyles drastically changing, we have seen that 43% of Indians
are currently plagued with depression and are learning to cope with it,” the
study said.
To monitor the
severity of depression in the respondents, the study relied on
self-administered Patient Health Questionnaire or PHQ-9 (a form of primary care
evaluation of mental disorders).
It took into
account nine aspects of an individual’s daily routine, including interest
levels in activities, appetite, sleep cycles, ability to concentrate, and energy
levels. “Our study indicates that an increasing number of people across the
country are dealing with mental health issues triggered by the spread of the
coronavirus and the consequent lockdown. “The mounting uncertainty is the basis
of the high stress index which can be controlled with a balanced diet, changes
in lifestyle and appropriate sleep patterns,” said Vishal Gondal, Founder and
CEO, GOQii.
Those feeling
depressed complained of having little interest or pleasure in doing things,
feeling hopeless, dealing with erratic sleep cycles, poor eating habits, low
levels of energy, low self esteem, having trouble concentrating, being
restless, and having thoughts of self harm. “More than 59% of the population
said they had little pleasure in doing things these days, out of which 38% have
this feeling on a few days and 9% feel so more than half of the days. Nearly
12% felt this way almost every day in these times,” the study said.
It pointed out
that more than 57% of the respondents complained of feeling tired or having
little energy through “at least some days in the last few weeks”. “At least
more than 15% have this feeling more than half of the days. This leads to some
people sleeping too much while some others have trouble sleeping. “With the
change in lifestyle, approximately half of the population is having trouble
with their sleep,” the study said.
“At least 7% of
the population goes through this nearly every day while 33% experience it on a
few days,” it added.
Feeling
hopeless, on the other hand, was not so common among the respondents. Only 10%
of them said they felt “down and depressed” more than half of the days or
nearly every day.
The study
suggested that adding exercising to one’s daily routine could help improve
their mental health. “Exercising can lead to endorphins (the happy hormone)
which can help with depression. The more depressed you are, the more likely you
are to not workout. “But, it is important to cajole yourself into doing more
things that make you feel happier,” it said.
4.Hand sanitiser in Covid-19 pandemic: How much is too
much?
-29 JULY 2020
Excess of anything is bad and the
same holds true for hand sanitisers as well. Although sanitisers have ruled our
lives amid the pandemic, and have become a necessity in the ‘new normal’ world
— blame it on the paranoia, or stress owing to the spread of the virus — there
have been times where people have used sanitisers excessively. And this has
reportedly lead to breathing problems and hand allergies, among other health
concerns. Often, just one trip to the market leaves one with sore hands due to
copious amounts of sanitisers poured, at the entry of most stores. So, how much
is too much? And how can one be wary of excessive usage of sanitisers?
Yatin Wadhwa, a Gurugram-based
businessman, says he has developed an allergy on his hands due to an increased
use of sanitisers. “I was using sanitisers about 10 to 15 times a day, and
slowly developed an allergy on my hands. I went to the doctor and he gave me
medicines to eat, and to apply on the skin. That was the lesson for me to
restrict my usage of sanitisers!”
5.Eid al-Adha 2020: Safety precautions and measures issued by WHO to be
observed during the celebration of Bakrid
-30 JULY 2020
Eid al-Adha is a time of
celebration, and the devotion and love of Ibrahim towards Allah is celebrated.
It is also the time for offering prayer, feasting on that which has been
sacrificed and partaking of the feast with the needy and providing them with
alms. Muslims around the world gather at mosques to offer their prayers and
interact with their relatives in celebration but this can be problematic
considering the pandemic that the world is undergoing currently.
It is imperative to maintain the
proper safety procedures to ensure that more contamination does not take place
during the celebration of this joyous occasion. As Eid al-Adha consists of
masses of people gathering together in celebration, the World Health
Organisation (WHO) have issued some guidelines that should be followed through
the course of the celebration, to ensure everyone’s safety.
• Clean your hands frequently and
follow proper coughing and sneezing etiquette.
• Maintain physical distance of at
least 1 metre and if physical distancing cannot be achieved, wear a mask.
• If you are over the age of 60 or
have any pre-existing medical conditions such as diabetes, cardiac disease,
chronic lung disease, chronic kidney disease or cancer, avoid attending Eid
al-Adha prayers and gathering. The same applies if you are exhibiting any
Covid-19 symptoms or are feeling unwell.
To maximize the safety of all
attendees at prayers and family gatherings, these measures can be taken –
• Shorten the events to limit
exposure.
• Maintain physical distancing,
including while praying.
• Regulate flow of people at
entrances and exits.
• Trace contacts if an ill person is
identified among the attendees.
WHO has issued guidelines that the
mosques holding Eid ul-Adha prayers should ensure –
• Availability of soap, water, and
alcohol-based hand-rub.
• Use of personal prayer rugs.
• Visual displays of advice on
safety measures against Covid-19
• Disposable tissues and bins for
safe disposal
• Routine cleaning of frequently
touched objects and surfaces.
• Applying physical distancing
measures of at least 1 metre.
While Covid-19 spreads primarily
through human-to-human transmission, there is also evidence of transmission
from humans to animals. In order to ensure cleanliness and safety during the
ritual animal sacrifice, WHO has issued a guideline –
• Do not slaughter at home.
• Do not slaughter animals that
appear sick.
• Procure animals through trusted
official procedures.
• Nominate one household member to
perform the sacrifice.
• Consider using centralized
institutions to avoid overcrowding.
• Adhere to physical distancing and
proper hand hygiene throughout the cycle (collection, packaging, storing and
distribution)
Only those facilities that are
following these precautions are deemed safe for slaughter of animals –
• Sanitation, e.g. hand washing
facilities, clean walls and floors.
• Staff use protective measures and
do not show symptoms.
• Waste materials are collected and
disposed of.
• Adequate veterinary checks for
livestock.
• Dedicated space for isolation of suspected sick animals.
Business
News
~by JATIN
1.London’s newest ghost town was financed by
China
-1 August 2020
Chinese President
Xi Jinping and then-U.K. Prime Minister David Cameron were on hand to toast the
signing of the deal to transform 35 acres of derelict London riverfront into a
bustling finance hub.
Five years on, in
the wake of Brexit and a cooling of Sino-British ties, developer Xu Weiping’s
vision for another Canary Wharf packed with Chinese companies looks more like a
mirage. Overlooking the Thames, along the old Royal Albert Docks and across the
water from City Airport, stand 21 new buildings that form the first phase of
the 1.7 billion-pound ($2.2 billion) project. They’re almost all empty.
“All of these
geopolitical changes have brought uncertainty, which affected the mindset of
Chinese and Asian investors,” says Xu, a China-born citizen of the Seychelles
who has been in London since the outbreak of the pandemic. “Some of them
already paid deposits, but because of those changes they had a change of heart.
Therefore, the tension between China and the U.K. definitely brought risks to
our project here.”
Not just Xu’s
project. U.K. real estate investors, already facing a deadly virus that’s
threatened rent payments, occupancy and defaults, have seen the tap from China
virtually shut. While investment was curbed by the tightening of capital
controls in 2017, investors from China, excluding Hong Kong, have yet to
acquire a single commercial property in Britain so far in 2020, according to
data compiled by broker CBRE Group Inc. This would be the first year they’ll
have been out of the market since 2011.
The U.K decision,
under U.S. pressure, to ban Huawei Technologies Co. from building its 5G
networks and the suspension of its extradition treaty with Hong Kong have
sparked a new era of hostility between the world’s rising superpower and the
territory’s 19th century colonizer. In retaliation, China scrapped a new London
headquarters for social media giant TikTok Inc., and state-run media has warned
that steps to punish HSBC Holdings Plc, Jaguar Land Rover Automotive Plc and
Burberry Group Plc could be next.
“This is another
era of cold war that we need to wake up to,” Tobias Ellwood, a Conservative
lawmaker and chairman of the U.K. Parliament’s Defense Committee, said in a
Bloomberg TV interview. A former army officer, Ellwood is among the
backbenchers who persuaded the government to reverse an initial decision to
welcome Huawei.
Deal Drought
It’s all a far cry from the heady days of 2015 when Cameron
boasted that Britain was “China’s best partner in the west.” The mere fact Xu won
the rights to the site two years earlier hints at a friendlier era. Financing
was provided by some of China’s biggest lenders, including Critic Bank, Bank of
China, Agricultural Bank of China, Industrial and Commercial Bank of China and
China Construction Bank.
Xu was an unknown
quantity in London even after his Advanced Business Park was selected to
develop the plot in 2013. When city officials who oversaw the bidding asked for
proof of his credentials and ability to finance the project, he offered them
his custom-made watch.
“The most valuable
item on me was that watch,” Xu said in a Zoom interview. “It was expensive but
more importantly it was very valuable to me personally so I wanted to offer it
to show our commitment to this project.”
The procurement
process was later investigated by the city government’s oversight committee to
examine whether officials had tweaked the rules in ABP’s favor. It eventually
concluded the company was the only viable contender for the project.
Spokespeople for
the Greater London Authority, as the city government is called, didn’t return
calls or emails seeking comment.
2.Donald Trump offers, Democrats reject fix for $600 jobless benefit
-31 JULY 2020
With aid expiring,
the White House offered a short-term extension on Thursday of a $600 weekly
unemployment benefit that has helped keep families and the economy afloat
during the COVID-19 pandemic, but Democrats rejected it, saying President
Donald Trump's team failed to grasp the severity of the crisis.
Democratic leaders
panned the idea in late-night talks at the Capitol, opting to keep the pressure
on for a more sweeping bill that would deliver aid to state and local
governments, help for the poor and funding for schools and colleges to address
the pandemic. Without action, the benefit runs out Friday.
"They want to
do one small thing that won't solve the problem," said top Senate Democrat
Chuck Schumer after meeting with Treasury Secretary Steven Mnuchin and White
House chief of staff Mark Meadows. "We have to have a bill, but they just
don't realize how big it has to be," said House Speaker Nancy Pelosi,
D-Calif.
Republicans have
been fighting to trim back the $600 jobless benefit in the next coronavirus
package, but their resolve weakened with the looming expiration of the popular
benefit - and as Trump indicated that he supports keeping the full $600 benefit
for now
"We want a
temporary extension of enhanced unemployment benefits," Trump said at the
White House. "This will provide a critical bridge for Americans who lost
their jobs to the pandemic through no fault of their own." He added:
"It has to be substantial."
During the
two-hour meeting at the Capitol, Trump's team offered a weeklong extension. But
Democrats have so far rejected a piecemeal approach, saying the next relief
bill needs to move as a complete package. The sides agreed to talk again Friday
and into the weekend.
Before Trump
spoke, top Senate Republican Mitch McConnell adjourned the chamber for the
weekend while taking a procedural step that could allow voting on a potential
compromise next week. Negotiators for the first time this week reported at
least some progress.
"On certain
issues we made progress. On certain issues we're still very far apart,"
Mnuchin said after the two-hour meeting in Pelosi's office. "The speaker
and Sen. Schumer said - and we feel the same way - that it is our objective to
try to reach an agreement that's good for the American people."
There continues to
be agreement among Washington's top power players that Congress must pass
further relief in the coming days and weeks.
Trump is eager for
another round of relief, and it's also a priority for GOP allies like
McConnell, as well as Pelosi and Schumer, D-N.Y. Democrats hold a strong
negotiating hand - exploiting GOP divisions over whether more aid is even
needed - and they are expected to deliver a necessary trove of votes.
Raising the
stakes, a bleak government report released Thursday said the economy shrank at
a 33% annualized rate in the second quarter of the year, a stark reminder of
the economic damage afflicting the country as lawmakers debate the size and
scope of new relief.
"This jarring
news should compel Congress to move swiftly to provide targeted and temporary
assistance to unemployed Americans, employers, and state and local governments,
and liability protections for businesses who follow public health guidelines,"
said Neal Bradley of the U.S. Chamber of Commerce, the powerful business group.
But bipartisan
talks have yet to reach a serious, productive phase. Democrats are playing
hardball, insisting on a package that's far larger than the $1 trillion-plus
measure unveiled by McConnell on Monday. Thursday brought more tit-for-tat.
"They won't
engage. Period," McConnell said as he opened the Senate. "The
Democrats are saying, my way or the highway."
Pelosi and McConnell have an extensive history, however. They
often find ways to reach deals, though the process involves intense maneuvering
and plenty of cross words.
McConnell showed a
willingness in recent days to consider some Democratic priorities, like
additional food aid. He and Trump have made plain they are intent on getting a
bill
Schumer continued
his daily fusillade against McConnell and Republicans controlling the Senate,
noting that McConnell "refuses to go in the room" and join the talks
in person, instead transferring ownership of the talks to Meadows, along with
Mnuchin, who has been a key architect of previous accords.
3.Huawei overtakes Samsung as top smartphone seller in Q2: Industry tracker Canalys
-30 JULY 2020
China's Huawei has
overtaken Samsung to become the number-one smartphone seller worldwide in the
second quarter, industry tracker Canalys said Thursday.
Canalys said embattled firm, which is facing US sanctions,
shipped 55.8 million devices -- overtaking Samsung for the first time, which
shifted 53.7 million units.
The research group
said the US sanctions had "stifled" Huawei's business outside
mainland China, but that it had grown to dominate its substantial domestic
market.
More than 70
percent of its smartphones are now sold in the country, Canalys said.
Huawei said in a statement it was a sign of "exceptional
resilience".
Overseas
shipments, however, fell nearly a third in the second quarter and Canalys
analyst Mo Jia warned that strength in China alone "will not be enough to
sustain Huawei at the top once the global economy starts to recover".
Huawei has become
a pivotal issue in the geopolitical standoff between Beijing and Washington, which
claims the firm poses a significant cybersecurity threat.
The US has also
requested the extradition of Huawei executive Meng Wanzhou on fraud charges,
further damaging relations between China and Canada, where she is under house
arrest.
4.Zuckerberg, Bezos, Sundar Pichai and Tim Cook getting heat
from US Cong on competition
-29 JULY 2020
Four Big Tech
CEOs, Facebook's Mark Zuckerberg, Amazon's Jeff Bezos, Sundar Pichai of Google
and Tim Cook of Apple, are set to answer for their companies' practices before
Congress as a House panel caps its yearlong investigation of market dominance
in the industry.
The powerful executives
are set to defend their companies as buttressing competition and offering
essential services to consumers. The four CEOs are testifying remotely for a
hearing Wednesday by the House Judiciary subcommittee on antitrust.
President Donald
Trump, meanwhile, continued to denounce the big tech companies, which he has
accused, without evidence, of bias against him and conservatives in general. In
a tweet, he challenged Congress to crack down on the companies.
``If Congress
doesn't bring fairness to Big Tech, which they should have done years ago, I
will do it myself with Executive Orders,`` Trump tweeted before the start of
the hearing. ``In Washington, it has been ALL TALK and NO ACTION for years, and
the people of our Country are sick and tired of it! ``
Trump's Justice
Department has urged Congress to roll back long-held legal protections for
online platforms such as Facebook, Google and Twitter. The proposed changes
would strip some of the bedrock protections that have generally shielded the
companies from legal responsibility for what people post on their platforms.
The four tech CEOs
command corporations with gold-plated brands, millions or even billions of
customers, and a combined value greater than the entire German economy. One of
them, Bezos, is the world's richest individual; Zuckerberg is the fourth-ranked
billionaire.
Critics question
whether the companies stifle competition and innovation, raise prices for
consumers and pose a danger to society.
In its bipartisan
investigation, the Judiciary subcommittee collected testimony from mid-level
executives of the four firms, competitors and legal experts, and pored over
more than a million internal documents from the companies. A key question:
whether existing competition policies and century-old antitrust laws are
adequate for overseeing the tech giants, or if new legislation and enforcement
funding is needed.
Subcommittee chairman
Rep. David Cicilline, a Rhode Island Democrat, has called the four companies
monopolies, although he says breaking them up should be a last resort. While
forced breakups may appear unlikely, the wide scrutiny of Big Tech points
toward possible new restrictions on its power.
``Simply put, they
have too much power,'' Cicilline said in opening remarks Wednesday, as he laid
out data pointing up the power of the four tech companies as essential cogs of
commerce and communications.
He also said that
in the wake of the coronavirus pandemic, ``these giants stand to profit'' and
become even more powerful as millions shift more of their work and commerce
online.
The companies face
legal and political offensives on multiplying fronts, from Congress, the Trump
administration, federal and state regulators and European watchdogs. The
Justice Department and the Federal Trade Commission have been investigating the
four companies' practices.
Each company has a
distinct profile and each tech titan has his own approach and story to tell.
For Bezos, who presides over an e-commerce empire and
ventures in cloud computing, personal ``smart'' tech and beyond, it will be his
first-ever appearance before Congress.
5.McDonald's global sales suffer as COVID-19 lockdowns limit
operations
-28 JULY 2020
McDonald's Corp on
Tuesday reported a bigger-than-expected drop in global same-store sales as the
burger chain's restaurants across the world were shut because of the COVID-19
pandemic, limiting operations to only drive-thru and delivery.
Global same-store sales fell 23.9% for the second quarter
ended June 30, dragged down by big international markets including the United
Kingdom, France and Latin America.
Analysts had
forecast a 23.24% fall, according to IBES data from Refinitiv.
In the United States, where it operates more than a third of
its restaurants, same-restaurant sales fell 8.7%, but were better than the
anticipated 9.97% fall, as most locations were able to stay open with drive-thru
and delivery options.
As lockdowns eased, sales improved and losses were not as
bad, providing some optimism for a measured rebound.
Restaurants have
been struggling to cope with the changing dynamics and consumer behaviors
around the health crisis, forcing them to simplify menus and shift largely to
online and mobile orders for pickup, delivery and drive-thru.
"Our strong
drive-thru presence and the investments we've made in delivery and digital over
the past few years have served us well through these uncertain times,"
Chief Executive Officer Chris Kempczinski said.
To help drive its
recovery, McDonald's, like many other U.S. restaurant chains and retailers,
said face coverings would be mandatory at its stores in the United States and
employees would offer one to anyone entering without a mask.
The company said about 96% of its restaurants were operating
with drive-thru, delivery or reduced seating capacity.
Revenue fell 30.5% to $3.76 billion, but beat the estimate of
$3.68 billion.
Net income fell to
$483.8 million, or 65 cents per share, from $1.52 billion, or $1.97 per share,
a year earlier.
6.EU talks with Pfizer, Sanofi, J&J on COVID-19 vaccines hit pricing, payment roadblocks
-27 JULY 2020
European efforts
to secure potential COVID-19 vaccines from Pfizer, Sanofi and Johnson &
Johnson are mired in wrangles over price, payment method and potential
liability costs, three EU officials told Reuters.
The bloc is in talks with at least six vaccine makers to
acquire up front doses of potential shots against the novel coronavirus,
officials told Reuters earlier in July, in a strategy meant to increase the
chances of having COVID-19 vaccines for its population.
Despite the urgency
to seal deals amid a global race to secure the most promising shots, the EU is
struggling to reach swift agreements, said the officials, who are involved in
the talks, and declined to be named because the negotiations are confidential.
The United States, meanwhile, has already inked two supply
agreements with AstraZeneca NSE 0.59 % and Pfizer among other major funding
deals.
The EU's
negotiations with Johnson & Johnson are among the most advanced but have
yet to conclude amid a back-and-forth over how to share liability costs if the
potential vaccine showed unexpected side-effects, two of the officials told
Reuters.
Johnson & Johnson had no immediate comment.
France's Sanofi is
negotiating to supply 300 million doses of the potential vaccine it is
developing with British drugmakers GlaxoSmithKline Plc to the EU and wants an
immediate upfront payment for the entire stock, two officials said.
But the EU wants to pay in tranches and delay some payments
until the vaccine has passed large clinical trials, the officials said.
This has caused "some hurdles," one of the
officials said.
A spokesman for
Sanofi declined to comment.
A spokesman for the Commission, which is leading EU talks
with drugmakers, declined to comment.
Aside from the Pfizer, Sanofi and Johnson & Johnson
discussions, the EU is also in talks with biotech companies Moderna and Germany's
CureVac, officials told Reuters earlier in July.
Moderna and CureVac were not immediately available to comment.
A deal with
AstraZeneca for its vaccine under development with Oxford University was struck
by four large EU countries in June and is now about to be completed for the
whole 27-nation bloc, officials said.
One official said the EU was seeking to seal three or four
advance purchase deals.
This might
eliminate the EU's risk of losing money should the shot prove unsuccessful. But
the bloc fears that if it waits for the vaccine to be proved effective, the
bill could be much higher and they risk going "over budget," one of
the officials said.
In a further potential complication, some EU negotiators have
raised doubts about mRNA, which is also used in the potential COVID vaccines
developed by Moderna and CureVac.
7.Corporate insiders pocket a billion dollars amid rush for Covid vaccine
-26 JULY 2020
On June 26, a
small South San Francisco company called Vaxart made a surprise announcement: A
coronavirus vaccine it was working on had been selected by the U.S. government
to be part of Operation Warp Speed, the flagship federal initiative to quickly
develop drugs to combat COVID-19.
Vaxart’s shares
soared. Company insiders, who weeks earlier had received stock options worth a
few million dollars, saw the value of those awards increase sixfold. And a
hedge fund that partly controlled the company walked away with more than $200
million in instant profits.
The race is on to
develop a COVID-19 vaccine, and some companies and investors are betting that
the winners stand to earn vast profits from selling hundreds of millions — or
even billions — of doses to a desperate public.
Across the
pharmaceutical and medical industries, senior executives and board members are
capitalizing on that dynamic.
They are making millions of dollars after announcing positive
developments, including support from the government, in their efforts to fight
COVID-19. After such announcements, insiders from at least 11 companies — most
of them smaller firms whose fortunes often hinge on the success or failure of a
single drug — have sold shares worth well over $1 billion since March,
according to figures compiled for The New York Times by Equilar, a data
provider.
In some cases,
company insiders are profiting from regularly scheduled compensation or
automatic stock trades. But in other situations, senior officials appear to be
pouncing on opportunities to cash out while their stock prices are sky high.
And some companies have awarded stock options to executives shortly before
market-moving announcements about their vaccine progress.
The sudden
windfalls highlight the powerful financial incentives for company officials to
generate positive headlines in the race for coronavirus vaccines and
treatments, even if the drugs might never pan out.
Some companies are attracting government scrutiny for
potentially using their associations with Operation Warp Speed as marketing
ploys.
Some companies are
attracting government scrutiny for potentially using their associations with
Operation Warp Speed as marketing ploys.
For example, the headline on Vaxart’s news release declared:
“Vaxart’s COVID-19 Vaccine Selected for the U.S. Government’s Operation Warp
Speed.” But the reality is more complex.
Vaxart’s vaccine
candidate was included in a trial on primates that a federal agency was
organizing in conjunction with Operation Warp Speed. But Vaxart is not among
the companies selected to receive significant financial support from Warp Speed
to produce hundreds of millions of vaccine doses.
The U.S.
Department of Health and Human Services has entered into funding agreements
with certain vaccine manufacturers, and we are negotiating with others. Neither
is the case with Vaxart,” said Michael R. Caputo, the department’s assistant
secretary for public affairs. “Vaxart’s vaccine candidate was selected to
participate in preliminary U.S. government studies to determine potential areas
for possible Operation Warp Speed partnership and support. At this time, those
studies are ongoing, and no determinations have been made.”
Some officials at the Department of Health and Human Services
have grown concerned about whether companies including Vaxart are trying to
inflate their stock prices by exaggerating their roles in Warp Speed, a senior
Trump administration official said. The department has relayed those concerns
to the Securities and Exchange Commission, said the official, who spoke on the
condition of anonymity.
It isn’t clear if
the commission is looking into the matter. An SEC spokeswoman declined to
comment.
“Vaxart abides by
good corporate governance guidelines and policies and makes decisions in
accordance with the best interests of the company and its shareholders,”
Vaxart’s Chief Executive, Andrei Floroiu, said in a statement Friday. Referring
to Operation Warp Speed, he added, “We believe that Vaxart’s COVID-19 vaccine
is the most exciting one in OWS because it is the only oral vaccine (a pill) in
OWS.”
Well-timed stock
transactions are generally legal. But investors and corporate governance
experts say they can create the appearance that executives are profiting from
inside information, and could erode public confidence in the pharmaceutical
industry when the world is looking to these companies to cure COVID-19.
“It is
inappropriate for drug company executives to cash in on a crisis,” said Ben
Wakana, executive director of Patients for Affordable Drugs, a nonprofit
advocacy group. “Every day, Americans wake up and make sacrifices during this
pandemic. Drug companies see this as a payday.”
Executives at a long list of companies have reaped seven- or
eight-figure profits thanks to their work on coronavirus vaccines and
treatments.
Technology News
~by GAURAV
1.Google, amazon, Facebook, and
Apple
CEO defend themselves during
antitrust
hearing
-28 JULY 2020
In a historic the CEOs of google, Amazon, Facebook, and Apple testified to the US House of an antitrust investigation focusing on tech companies.
The house committee on
the judiciary antitrust subcommittee brought the four GAFA CEO (Google’s Sundar
Pichai amazon’s jeff Bezos Facebook’s mark Zuckerberg and Apple Tim cook to
testify together for the first time albeit via WebEx rather than in person. the
hearing also marked Bezos’s first time testifying before congress.
The subcommittee has
been investigating alleged anti-competitive Behavior by online Platform’s for
over a year collecting 1.3 million pages of evidence from the companies and
submission from more than 100 other companies. The latest hearing which focuses
on the market dominance of the GAFA companies, is the sixth so far.
2.Nasa’s latest mars rover blasts off in
search of alien life
-29 JULY 2020
Nasa’s perseverance
rover has successfully blasted off on its $2.4 Mission to mars atop an atlas 5
rocket signs of life on the planet.
The car – sized robotic
spacecraft is set to deploy a mini helicopter on mars for the first times time
and test equipment that may ultimately be used in a future manned mission.
The rocket carrying the
rover launched from the cape Canaveral air force station in Florida today at
around 12.50 pm GMT.
Dramatically a 4.2
magnitude earthquake shook southern California just 20 minutes before
departure.
“I’m so relieved: Nasa’s
science division chief Thomas Zurbuchen said on a live stream after the launch
saying everything looking good.
3.COVID-19 tracing app
launches in
Northern Ireland
-30 JULY 2020
The stop COVID NI
proximity App is available on both the apple store and google play and works by
emitting anonymized coded key or identifier beacons which change every 15
minutes.
The UK government was
developing its own app. which was originally supposed to rollout in
England by June .however the app was ineffective at tracking iPhone users and
work was restarted using a new method developed by apple and google that the NI
app is based upon .
The app has been
designed to assist in stopping the spread of covid-19 by anonymously contact
with someone who has tested positive for the virus. It will notify any app
users that have been closer than two meters for more than 15 minutes in the
previous 14 days.
4.AI test can identify COVID-19 within one hour
researchers say
-31 JULY 2020
A new test powered by artificial intelligence could coronavirus within one research.
Its developers say it
can rapidly screen people arriving at hospitals for covid-19 and accurately
predict whether or not they have the disease.
The curial AI test has
been developed by a team at the university of oxford and assesses data
typically gathered form patients within the first hour of arriving in an
emergency department – such as blood tests and vital signs – to determine the
chance of a patient testing positive for covid-19 .testing for the virus
currently involves the molecular analysis of a nose and throat swab with result
having typical turnaround times of between 12 and 48 hours . however, the
oxford team said their tool could deliver near real time predictions for a
patient’s covid-19 status.
In an ongoing study
running since march the researchers have tested the AI tool on data from
115,000 visits to at oxford university hospitals.
5.Greener roads lower wind costs and fewer bags
best of the week’s news
-1 August 2020
The news from past week
that caught their eye and reflect on what these latest developments in
engineering and technology mean to them
If we’re looking for a
green recovery for a better world then this is precisely the sort of technology
we should be turning to. a proper example of the circular economy resulting in
fewer quarries being quarried and less energy spent processing virgin materials
for processing also it removes a waste-disposal problem. what’s not to love!
Nothing superficially. however new road – building material are not new we covered a story last year about using waste plastics for road building in Scotland and numerous other trials of different materials have gone before. yet concrete. there huge inertia in the construction industry. A prime reason is the longevity of the project. buildings bridges roads projects. buildings bridges roads etc. are expected to last for many decades and their failure could be catastrophic. so, if something works building processes then the temptation is stick with it. doing something new also adds elements of uncertainty building contractors’ architects and engineers don’t like.
Great work bro
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