Day: November 12, 2018

Tech Giants Slide, Pulling US Stock Market Sharply Lower

By Uponbiz | | No Comments | Business

A broad sell-off in technology companies pulled U.S. stocks sharply lower Monday, knocking more than 600 points off the Dow Jones Industrial Average.

 

The wave of selling snared big names, including Apple, Amazon and Goldman Sachs. Banks, consumer-focused companies, and media and communications stocks all took heavy losses. Crude oil prices fell, erasing early gains and extending a losing streak to 11 days.

 

The tech stock tumble came followed an analyst report that suggested Apple significantly cut back orders from one of its suppliers. That, in turn, weighed on chipmakers.

 

“With the news out of the Apple supplier this morning, you have the market overall questioning the growth trajectory as we look out to 2019,” said Lindsey Bell, investment strategist at CFRA. “We continue to like tech going into next year, but we think it could be a little bit of a rocky period for the group as we continue through the last two months of the year.”

 

The market’s slide came after a two-week winning streak.

 

The S&P 500 index dropped 54.79 points, or 2 percent, to 2,726.22. The Dow fell 602.12 points, or 2.3 percent, to 25,387.18. It was down briefly by 648 points.

 

The Nasdaq composite slid 206.03 points, or 2.8 percent, to 7,200.87. The Russell 2000 index of smaller companies gave up 30.70 points, or 2 percent, to 1,518.79.

Bond trading was closed for Veterans Day. Stocks in Europe also suffered losses.

 

Apple tumbled 5 percent to $194.17 after Wells Fargo analysts said the iPhone maker is the unnamed customer that optical communications company Lumentum Holdings said was significantly reducing orders. Shares in Lumentum plunged 33 percent to $37.50.

 

Several chipmakers also fell. Advanced Micro Devices gave up 9.5 percent to $19.03, while Nvidia lost 7.8 percent to $189.54. Micron Technology gave up 4.3 percent to $37.44.

 

Amazon slid 4.4 percent to $1,636.85.

 

Banks and other financial companies also took heavy losses Tuesday. Goldman Sachs slid 7.5 percent to $206.05.

“Expectations are really that the deregulation process that has benefited banks up to this point is going to be slowed down with the Democrats in charge,” Bell said.

 

Stocks appeared to have regained their footing after a skid in October snapped a six-month string of gains for the S&P 500. Stocks rallied last week after the U.S. midterm elections turned out largely as investors expected, with a divided Congress promising legislative gridlock in Washington the next couple of years.

 

While the market has typically thrived in periods of divided government, investors continue to grapple with uncertainty over the U.S.-China trade dispute and the potential impact of increased oversight of Corporate America by Democrats, who will be taking over leadership in the House of Representatives in January.

 

In addition, some companies have recently reported third-quarter earnings and outlooks that have stoked investors’ worries about the future growth of corporate profits.

 

While companies got a boost this year from the lower tax rates put in place by President Donald Trump and the GOP last December, several companies have recently warned about the impact of higher costs related to tariffs and rising interest rates.

 

“The bull market is not over, the economic expansion is not over, but things are starting to wind down,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “We’re clearly getting into the late innings of the ball game.”

 

British American Tobacco, which makes Newport cigarettes, plunged 8.8 percent to $38.08 on reports that regulators were considering a ban on menthol cigarettes.

 

PG&E tumbled 17.4 percent to $32.98 after the electric utility told regulators that a high-voltage line experienced a problem near the origin of one of the major California wildfires before the blaze started.

 

Investors bid up shares in Athenahealth after the struggling medical billing software maker said it received a $5.7 billion cash buyout offer. The stock jumped 9.7 percent to $131.97.

 

About 90 percent of S&P 500 companies have reported third-quarter results so far, with some 51 percent of those posting earnings and revenue that topped Wall Street’s forecasts, according to S&P Global Market Intelligence. Several big retailers are due to deliver results this week, including Walmart, Home Depot, Williams-Sonoma, Nordstrom and J.C. Penney.

 

“That could actually probably boost the market,” Bell said.”Retailers are going to have a better third quarter than most people expect. A lot of them ordered goods ahead of the tariffs going into place, so they’re not going to have to pass on higher prices on to the consumer this holiday season.”

 

Benchmark U.S. crude gave up an early gain, sliding 0.4 percent to settle at $59.93 per barrel in New York. Brent crude, used to price international oils, dipped 0.1 percent to close at $70.12 per barrel in London. Oil futures rose earlier on news that Saudi Arabia and other major producers planned to reduce output.

 

The dollar strengthened to 113.86 yen from 113.80 yen on Friday. The euro fell to $1.1240 from $1.1336. The British pound weakened to $1.2853 from $1.2975 amid concerns that Britain’s government is struggling to find unity on a Brexit deal.

 

Gold fell 0.4 percent to $1,203.50 an ounce. Silver lost 0.9 percent to $14.01 an ounce. Copper slid 0.3 percent to $2.68 a pound.

 

In other energy trading, heating oil fell 0.8 percent to $2.16 a gallon and wholesale gasoline gained 0.9 percent to $1.64 a gallon. Natural gas rose 1.9 percent to $3.79 per 1,000 cubic feet.

 

Major stock indexes in Europe also ended lower Monday. Germany’s DAX lost 1.8 percent and France’s CAC 40 fell 0.9 percent. Britain’s FTSE 100 shed 0.7 percent.

 

In Asia, markets finished mixed. Japan’s Nikkei 225 added 0.1 percent, while Hong Kong’s Hang Seng rose 0.1 percent. Australia’s S&P-ASX 200 gained 0.3 percent. The Kospi in South Korea dipped 0.3 percent.
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Bolsonaro: Brazil Pension Reform Legislation Unlikely in 2018

By Uponbiz | | No Comments | Business

Brazil’s Congress is unlikely to pass pension reform legislation this year, far-right President-elect Jair Bolsonaro said on Monday, a blow to investor hopes that caused the country’s currency to weaken in futures markets.

Investors snapped up Brazilian assets in the wake of Bolsonaro’s election victory last month, cheered by his party’s stronger-than-expected showing in congressional races, which raised hopes he could make quick advances on fiscal reforms.

Many economists say cuts to Brazil’s social security system are essential to controlling a huge federal deficit and regaining Brazil’s investment-grade rating.

Last week, Bolsonaro said he would like to see some form of pension reform passed this year to make it easier to deal with the deficit after he takes office on Jan. 1.

On Monday, however, he told reporters in Rio de Janeiro that after speaking with his chief economic advisor Paulo Guedes, passing a 2018 pension reform bill looked increasingly unlikely.

He added that the reform would not just be based on crunching the numbers, but would also have to take into account the social impact of the overhaul.

Brazil’s currency, the real, weakened against the U.S. dollar in futures markets after his comments.

Bolsonaro also said that no decision had yet been taken on the next head of state-controlled oil company Petroleo Brasileiro SA, with more names for the chief executive position set to come out on Tuesday.

Separately, Guedes said on Monday that World Bank chief financial officer and former Brazilian finance minister Joaquim Levy had accepted Bolsonaro’s offer to lead state development bank BNDES.
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Scientists: Wind, Drought Worsen Fires, Not Bad Management

By Uponsci | | No Comments | Science

Both nature and humans share blame for California’s devastating wildfires, but forest management did not play a major role, despite President Donald Trump’s claims, fire scientists say.

Nature provides the dangerous winds that have whipped the fires, and human-caused climate change over the long haul is killing and drying the shrubs and trees that provide the fuel, experts say.

“Natural factors and human-caused global warming effects fatally collude” in these fires, said wildfire expert Kristen Thornicke of the Potsdam Institute for Climate Impact Research in Germany.

Multiple reasons explain the fires’ severity, but “forest management wasn’t one of them,” University of Utah fire scientist Philip Dennison said.

Trump tweeted on Saturday: “There is no reason for these massive, deadly and costly forest fires in California except that forest management is so poor. Billions of dollars are given each year, with so many lives lost, all because of gross mismanagement of the forests.”

The death toll from the wildfire that incinerated the town of Northern California town of Paradise and surrounding areas climbed to 29, matching the mark for the deadliest single blaze in California history. Statewide, the number of fire dead stood at 31, including two victims in Southern California.

One reason that scientists know that management isn’t to blame is that some areas now burning had fires in 2005 and 2008, so they aren’t “fuel-choked closed-canopy forests,” Dennison said.

In those earlier fires, Paradise was threatened but escaped major damage, he said. In the current blazes, it was virtually destroyed.

The other major fire, in Southern California, burned through shrub land, not forest, Dennison said.

“It’s not about forest management. These aren’t forests,” he said.

The dean of the University of Michigan’s environmental school, Jonathan Overpeck, said Western fires are getting bigger and more severe. He said it “is much less due to bad management and is instead the result of our baking of our forests, woodlands and grasslands with ever-worsening climate change.”

Wildfires have become more devastating because of the extreme weather swings from global warming, fire scientists said. The average number of U.S. acres burned by wildfires has doubled over the level from 30 years ago.

As of Monday, more than 13,200 square miles (34,200 square kilometers) have burned. That’s more than a third higher than the 10-year average.

From 1983 to 1999, the United States didn’t reach 10,000 square miles burned annually. Since then, 11 of 19 years have had more than 10,000 square miles burned, including this year. In 2006, 2015 and 2017, more than 15,000 square miles burned.

The two fires now burning “aren’t that far out of line with the fires we’ve seen in these areas in recent decades,” Dennison said.

“The biggest factor was wind,” Dennison said in an email. “With wind speeds as high as they were, there was nothing firefighters could do to stop the advance of the fires.”

These winds, called Santa Ana winds, and the unique geography of high mountains and deep valleys act like chimneys, fortifying the fires, Thornicke said.

The wind is so strong that fire breaks – areas where trees and brush have been cleared or intentionally burned to deprive the advancing flames of fuel – won’t work. One of the fires jumped over eight lanes of freeway, about 140 feet (43 meters), Dennison said.

Southern California had fires similar to the Woolsey fire in 1982, when winds were 60 mph, but “the difference between 1982 and today is a much higher population in these areas. Many more people were threatened and had to evacuated,” Dennison said.

California also has been in drought for all but a few years of the 21st century and is now experiencing its longest drought, which began on Dec. 27, 2011, and has lasted 358 weeks, according to the U.S. Drought Monitor. Nearly two-thirds of the state is abnormally dry.

The first nine months of the year have been fourth-warmest on record for California, and this past summer was the second-hottest on record in the state.

Because of that, there are 129 million dead trees, which provide fuel for fires, Thornicke said.

And it’s more than trees. Dead shrubs around the bottom of trees provide what is called “ladder fuel,” offering a path for fire to climb from the ground to the treetops and intensifying the conflagration by a factor of 10 to 100, said Kevin Ryan, a fire consultant and former fire scientist at the U.S. Forest Service.

While many conservatives advocate cutting down more trees to prevent fires, no one makes money by cutting dead shrubs, and that’s a problem, he said.

Local and state officials have cleared some Southern California shrub, enough for normal weather and winds. But that’s not enough for this type of extreme drought, said Ryan, also a former firefighter.

University of Alberta fire scientist Mike Flanigan earlier this year told The Associated Press that the hotter and drier the weather, the easier it is for fires to start, spread and burn more intensely.

It’s simple, he said: “The warmer it is, the more fire we see.”

For every 1.8 degrees Fahrenheit that the air warms, it needs 15 percent more rain to make up for the drying of the fuel, Flannigan said.

Federal fire and weather data show the years with the most acres burned were generally a degree warmer than average.

“Everyone who has gardened knows that you must water more on hotter days,” Overpeck said. “But, thanks in part to climate change, California isn’t getting enough snow and rain to compensate for the unrelenting warming caused by climate change. The result is a worsening wildfire problem.
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Abu Dhabi Summit: Oil Production Cuts May Be Necessary

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OPEC and allied oil-producing countries will likely need to cut crude supplies, perhaps by as much as 1 million barrels of oil a day, to rebalance the market after U.S. sanctions on Iran failed to cut Tehran’s output, Saudi Arabia’s energy minister said Monday.

The comments from the minister, Khalid al-Falih, show the balancing act the U.S. allies face in dealing with President Donald Trump’s actions related to the oil industry.

Trump in recent weeks demanded the oil cartel increase production to drive down U.S. gasoline prices. “Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!” he tweeted Monday.

The U.S. has meanwhile allowed some of its allies — Greece, India, Italy, Japan, South Korea, Taiwan and Turkey — as well as rival China to continue to purchase Iranian oil despite reimposed sanctions, as long as they work to reduce their imports to zero.

Al-Falih, who on Sunday said the kingdom would cut production by over 500,000 barrels per day in December, said Monday that Saudi Arabia had been giving customers “100 percent of what they asked for.” That appeared to be a veiled reference to Trump.

Before the United States reimposed sanctions on Iran, “fear and anxiety gripped the market,” al-Falih said at the Abu Dhabi International Petroleum Exhibition & Conference. Now “we’re seeing the pendulum swing violently to the other side,” he added.

The energy minister of the United Arab Emirates, Suhail al-Mazrouei, currently the president of OPEC, said “changes” likely would be necessary as the oil cartel meets in December in Vienna. However, he added: “We need not to overreact when these things happen.”

Al-Falih said OPEC officials have seen analysis papers suggesting a production cut of upward of 1 million barrels of crude a day may be necessary to rebalance the market. However, he stressed that more study needed to be done.

“There are a lot of assumptions in their projections that may change,” al-Falih said. “We don’t want to throttle the global economy.”

A gallon of regular gasoline in the U.S. on average now sells for $2.69, down from $2.90 a month ago, according to AAA. Those lower prices likely quieted Trump, but production cuts could again boost prices at the pump.

Trump and volatility

Neither al-Falih nor al-Mazrouei directly criticized Trump, but Mohammed Hamad al-Rumhy, Oman’s oil and gas minister, blamed the U.S. president for some of the volatility striking the oil market. Oman, a sultanate on the eastern edge of the Arabian Peninsula, maintains close diplomatic ties to Iran and often serves as an interlocutor between Western powers and Tehran.

“Supply and demand is perhaps the easy part because you can measure it,” al-Rumhy said. It’s “extremely difficult to quantify what is happening in [the] White House — almost impossible.”

Iran, which has tense relations with Abu Dhabi, the capital of the UAE, did not have a high-level official at the summit.

Crude oil dropped to a low of $30 a barrel in January 2016. That forced OPEC to partner with non-OPEC countries, including Russia, to cut production to help prices rebound.

Benchmark Brent crude, which had been trading above $80 a barrel recently, now hovers just over $70 after the U.S. sanction waivers on Iran.

Fracking

Meanwhile, Sultan Ahmed al-Jaber, the head of the state-run Abu Dhabi National Oil Co., said the UAE planned to increase oil production to 4 million barrels a day by 2020 and 5 million barrels a day by 2030. The UAE now produces some 3 million barrels of oil a day.

Al-Jaber also said the UAE would begin fracking — injecting high-pressure mixtures of water, sand or gravel and chemicals — to gain access to otherwise unreachable natural gas reserves.

“Make no mistake: Hydrocarbons will continue to play an absolutely essential part of a diversified energy mix,” al-Jaber said.

But the highs and lows of the market need to end for both oil consumers and producers to profit, said al-Rumhy, the Omani official.

“If it was my heart beat going that way, I think I would be in the hospital right now,” he said.
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More Women in Poor Countries Use Contraception, Says Report

By Uponsci | | No Comments | Science

More women and girls in poor countries are using modern contraception, signifying progress in efforts to involve women in family planning, according to a report released Monday.

The number of women and girls using contraceptives in 69 of the world’s poorest countries surpassed 317 million in 2018, representing 46 million more users than in 2012, said the report by Family Planning 2020, a U.N.-backed global advocacy group working to promote rights-based family planning.

Access to modern contraception helped prevent over 119 million unintended pregnancies and averted 20 million unsafe abortions between July 2017 and July 2018, although populations continue to soar across Africa and other low-income countries, the report said.

“The best way to overcome this challenge of rapid population growth is by giving women and girls [the] opportunity to decide how many children they want to have,” Beth Schlachter, executive director of Family Planning 2020, told The Associated Press.

The mix of contraceptive methods has improved significantly in 20 of the surveyed countries, “meaning that more women are able to find the short-term, long-acting, emergency, or permanent method that suits their needs and preferences,” the report said.

But even as millions of poor women use contraceptives, millions more who want to delay or prevent pregnancy are still unable to access it, often due to lack of information, the report said, citing perceived health side-effects and social disapproval as deterrents.

Under Family Planning 2020, which grew out of a summit on family planning held in London in 2012, donors have pledged millions of dollars to bring contraception to 120 million more women and girls in developing countries by the year 2020.

Many of the 69 countries surveyed for the report are in sub-Saharan Africa, which is witnessing a population boom even as other parts of the world see dropping birth rates. Over half of the global population growth between now and 2050 will take place in Africa, according to U.N. figures.

According to the new report, contraceptive use is growing fastest in Africa, even though the region’s fertility rates remain high.

The most recent U.N. global population report estimates Africa’s fertility rate to be 5.1 births per woman.

Because the region’s growing population is not backed by substantial rises in family incomes and the development of public infrastructure, there are concerns that a population boom may deepen poverty levels for many Africans. 

Over the years, family planning has often been difficult to sell in heavily paternalistic sub-Saharan Africa, with the matter becoming controversial as some African leaders challenge the view that a growing population is bad for the world’s poorest continent.

Ugandan President Yoweri Museveni insists Africa needs more people, and has lambasted what he calls “the shrill cries of NGOs about population control.”

In February, President John Magufuli of Tanzania encouraged polygamy, citing the 10 million more women than men in his country in advising men to marry “two or more wives” to reduce the number of single women.
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Scientists to Swap Dusty Old Kilogram for Something More Stable

By Uponsci | | No Comments | Science

After years of nursing a sometimes dusty cylinder of metal in a vault outside Paris as the global reference for modern mass, scientists are updating the definition of the kilogram.

Just as the redefinition of the second in 1967 helped to ease communication across the world via technologies like GPS and the internet, experts say the change in the kilogram will be better for technology, retail and health — though it probably won’t change the price of fish much.

The kilogram has been defined since 1889 by a shiny piece of platinum-iridium held in Paris. All modern mass measurements are traceable back to it — from micrograms of pharmaceutical medicines to kilos of apples and pears and tons of steel or cement.

The problem is, the “international prototype kilogram” doesn’t always weigh the same. Even inside its three glass bell jars, it gets dusty and dirty, and is affected by the atmosphere. Sometimes, it really needs a wash.

“We live in a modern world. There are pollutants in the atmosphere that can stick to the mass,” said Ian Robinson, a specialist in the engineering, materials and electrical science department at Britain’s National Physical Laboratory.

“So when you just get it out of the vault, it’s slightly dirty. But the whole process of cleaning or handling or using the mass can change its mass. So it’s not the best way, perhaps, of defining mass.”

What’s needed is something more constant.

So, at the end of a week-long meeting in the Palace of Versailles, Paris, the world’s leading measurement aficionados at the International Bureau of Weights and Measures will vote Friday to make an “electronic kilogram” the new baseline measure of mass.

Just as the meter — once the length of a bar of platinum-iridium, also kept in Paris — is now defined by the constant speed of light in a vacuum, so a kilogram will be defined by a tiny but immutable fundamental value called the “Planck constant.”

The new definition involves an apparatus called the Kibble balance, which makes use of the constant to measure the mass of an object using a precisely measured electromagnetic force.

“In the present system, you have to relate small masses to large masses by subdivision. That’s very difficult — and the uncertainties build up very, very quickly,” Robinson said.

“One of the things this [new] technique allows us to do is to actually measure mass directly at whatever scale we like, and that’s a big step forward.”

He said it had taken years of work to fine-tune the new definition to ensure the switchover will be smooth.

But while the extra accuracy will be a boon to scientists, Robinson said that, for the average consumer buying flour or bananas, “there will be absolutely no change whatsoever.”
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Zimbabwe Farmers Call for Help to Mitigate Drought Effects

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Farmers in Zimbabwe are appealing for funds to irrigate their land, in hopes of fending off a possible drought predicted by the U.N. Food and Agriculture Organization.  FAO says droughts caused by the El Nino weather pattern are recurring more often and that might affect food security.

At Mugutu farm, about 40 kilometers north of Harare, a tractor tills land ahead of the rainy season, expected any time now.  

But at another farm nearby, 59-year-old Tsitsi Marjorie Makaya is focused on raising her chickens.

“We cannot do irrigation, we do not have the money to set up the irrigation system, the money to buy pipes, for electricity, we do not have the money.  We only managed to drill a borehole and that is how we water our garden.  We cannot put the whole plot under irrigation because we do not have all the necessary equipment,” Makaya said.

When asked if she was aware of the predicted El Nino drought predicted, the former vegetable vendor said it was beyond people’s control.

“There is nothing we can do about it, all we say is the rain belongs to God.  Sometimes they said there is not much rain and we end up having plenty of rain.  Since we started living here in 2000, we have never had any problems with rain; all other areas might have challenges with rainfall, but never in this area,” Makaya said.

But Patrick Kormawa head of FAO in southern Africa says depending on rain-fed agriculture on the continent is not a good idea anymore.

“El Nino is here to stay.  Any countries where agriculture relies on rainfall agriculture, we believe that member states should see how best they can invest in irrigation schemes.  For example here in Zimbabwe, we have worked with the government to rehabilitate 34 irrigation schemes.  This is showing tremendous improvement in the productivity of farmers,” he said.

Kormawa said even smallholder irrigation schemes were improving food security and income in countries where agriculture is the backbone of the economy.

The FAO official said with irrigation plans the effects of droughts would be mitigated and food security ensured. 
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Colombia’s Ex-rebels Turn Rafting Guides

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The nine former rebel fighters, who traded their guns, battle fatigues and heavy rucksacks for paddles, helmets and life jackets, launch four rafts laden with visitors into the turbulent Pato River, deep in Colombia’s dense Amazon jungle.

The former guerrillas from the Revolutionary Armed Forces of Colombia (FARC) have chosen rafting as their path to reintegration, as the government pushes to make tourism a top engine of the Andean nation’s economy.

“During the conflict, this region was rough, there were bullets and bombs all the time. Today, so much has changed — many people come to see the waterfalls, the mountain, the river,” guide Duberney Moreno, 34, a 13-year veteran of the FARC, said on Friday.

Nearly 13,000 former combatants and their unarmed sympathizers are participating in a reintegration process agreed as part of a 2016 peace deal to end more than 52 years of war with the government.

Reincorporation is considered fundamental to ensuring former FARC members do not return to the battlefield with smaller rebel group the National Liberation Army (ELN), numerous crime gangs and dissident groups that refused to demobilize.

The conflict in Colombia has killed more than 260,000 people and millions more have been displaced, suffered sexual violence or been maimed by land mines or bombs.

Implementation of the polarizing deal has advanced slowly, but the FARC is now a political party with 10 guaranteed seats in Congress through 2026.

Many former fighters have returned home to reunite with their families, but some 5,000 have remained in 24 demobilization zones like the one on the Pato, turning them into makeshift towns built on Marxist principles.

Certified rafters 

The government has budgeted some $1.6 million to help those in the zones, which are protected by government forces, start some 300 farming, ranching, shoemaking, fishery, woodworking and now tourism projects.

Many ex-combatants, most of whom come from poor, rural backgrounds, have also contributed the money they were given upon demobilization to the projects.

Moreno and eight other former fighters got 200 hours of guide training and are now certified by the International Rafting Federation.

The site in Caqueta province cost $20,000 to construct and features hiking trails and lodging. Former fighters cook meals and drive visitors two hours by rutted road from the nearest large town.

“We have to keep supporting these initiatives — they create confidence in the peace process,” said Jessica Faieta, deputy chief of the United Nations’ mission in Colombia, which helps manage reintegration.

President Ivan Duque, who took office in August, has said tourism could be the country’s new economic driver. Travel to Colombia has spiked in recent years, as stereotypes about violence are offset by positive media coverage of the country’s diverse destinations.

“I want tourism to be Colombia’s new oil and for it to be the great invigorator of economic activity,” Duque said at a recent event.

More than 3.3 million tourists visited Colombia in 2017, a 23.9 percent jump from 2016. Figures from the past two years were more than double rates in 2010 and before, when just 1.4 million people visited.

The government estimates tourism has the potential to generate $6 billion annually and some 300,000 jobs.

Colombia has coastline on both the Caribbean and the Pacific Ocean, Amazonian jungle, Andean glaciers and cosmopolitan urban areas, as well as a plethora of adventure sports and wildlife.

Moreno and his colleagues are optimistic about their future on the river.

“We want peace,” Moreno said, standing on a beach along the Pato in the suffocating heat. “We believe a different Colombia is possible.”
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France to ‘Embed’ Regulators at Facebook to Combat Hate Speech

By Uponsil | | No Comments | Silicon Valley

Facebook will allow French regulators to “embed” inside the company to examine how it combats online hate speech, the first time the wary tech giant has opened its doors in such a way, President Emmanuel Macron said Monday.

From January, Macron’s administration will send a small team of senior civil servants to the company for six months to verify Facebook’s goodwill and determine whether its checks on racist, sexist or hate-fueled speech could be improved.

“It’s a first,” Macron told the annual Internet Governance Forum in Paris. “I’m delighted by this very innovative experimental approach,” he said. “It’s an experiment, but a very important first step in my view.”

The trial project is an example of what Macron has called “smart regulation,” something he wants to extend to other tech leaders such as Google, Apple and Amazon.

The move follows a meeting with Facebook’s founder Mark Zuckerberg in May, when Macron invited the CEOs of some of the biggest tech firms to Paris, telling them they should work for the common good.

The officials may be seconded from the telecoms regulator and the interior and justice ministries, a government source said. Facebook said the selection was up to the French presidency.

It is unclear whether the group will have access to highly-sensitive material such as Facebook’s algorithms or codes to remove hate speech. It could travel to Facebook’s European headquarters in Dublin and global base in Menlo Park, California, if necessary, the company said.

“The best way to ensure that any regulation is smart and works for people is by governments, regulators and businesses working together to learn from each other and explore ideas,” Nick Clegg, the former British deputy prime minister who is now head of Facebook’s global affairs, said in a statement.

France’s approach to hate speech has contrasted sharply with Germany, Europe’s leading advocate of privacy.

Since January, Berlin has required sites to remove banned content within 24 hours or face fines of up to 50 million euros ($56 million). That has led to accusations of censorship.

France’s use of embedded regulators is modeled on what happens in its banking and nuclear industries.

“[Tech companies] now have the choice between something that is smart but intrusive and regulation that is wicked and plain stupid,” a French official said.
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New US Exercise Guidelines: Move More, Sit Less, Start Younger

By Uponsci | | No Comments | Science

Move more, sit less and get kids active as young as age 3, say new U.S. federal guidelines that stress that any amount and any type of exercise helps health.

The advice is the first update since the government’s physical activity guidelines came out a decade ago. Since then, the list of benefits of exercise has grown, and there’s more evidence to back things that were of unknown value before, such as short, high-intense workouts and taking the stairs instead of an elevator.

“Doing something is better than doing nothing, and doing more is better than doing something,” said Dr. Donald Lloyd-Jones, a preventive medicine expert at Northwestern University in Chicago.

Only 20 percent of Americans get enough exercise now, and the childhood obesity problem has prompted the push to aim younger to prevent poor health later in life.

Highlights of the advice released Monday at an American Heart Association conference in Chicago and published in the Journal of the American Medical Association:

Children and teens

The biggest change: Start young. Guidelines used to begin at age 6, but the new ones say preschoolers ages 3 through 5 should be encouraged to take part in active play throughout the day. They don’t call for a certain amount but say a reasonable target may be three hours of various intensities. That’s consistent with guidelines in many other countries and is the average amount of activity observed in kids this age.

From ages 6 through 17, at least an hour of moderate-to-vigorous activity throughout the day is recommended. Most of it should be aerobic, the kind that gets the heart rate up such as brisk walking, biking or running. At least three times a week, exercise should be vigorous and include muscle- and bone-strengthening activities like climbing on playground equipment or playing sports.

Adults

Duration stays the same — at least 2 to 5 hours of moderate-intensity or 1 to 2 hours of vigorous activity a week, plus at least two days that include muscle-strengthening exercise like pushups or lifting weights.

One key change: It used to be thought that aerobic activity had to be done for at least 10 minutes. Now even short times are known to help. Even a single episode of activity gives short-term benefits such as lowering blood pressure, reducing anxiety and improving sleep.

Sitting a lot is especially harmful.

The advice is similar for older adults, but activities should include things that promote balance to help avoid falls.

Brought to you by the letter E

Targeting young children is the goal of a project that Dr. Valentin Fuster, a cardiologist at New York’s Mount Sinai Hospital, has worked on for years with the Heart Association and Sesame Workshop, producers of television’s “Sesame Street.”

At the heart conference, he gave results of an intensive four-month program to improve knowledge and attitudes about exercise and health among 562 kids ages 3 to 5 in Head Start preschools in Harlem.

“It was really successful,” Fuster said. “Once they understand how the body works, they begin to understand physical activity” and its importance.

When brains are young, “it’s the best opportunity” to set health habits that last, he said.

 

 
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Michelle Obama Memoir Next Pick for Winfrey Book Club

By Uponent | | No Comments | Entertainment

Michelle Obama’s “Becoming,” already expected to sell millions of copies, now has the official backing of Oprah Winfrey.

“This book is everything you wanted to know and so much you didn’t even know you wanted to know. I believe it’s going to spark within you the desire to think about your own becoming,” Winfrey, who on Monday told The Associated Press in a statement that she had selected “Becoming” for her book club. “It’s so well-written I can hear her voice; I can hear her expressions; I can feel her emotion. What she allows us to see is how she was able to discover, define and then refine her voice.”

In “Becoming,” Obama shares such deeply personal revelations as suffering a miscarriage and sharply criticizes President Donald Trump for promoting the false “birther” rumor that Barack Obama was not a U.S. citizen. The former first lady’s book comes out Tuesday and is among the most anticipated political memoirs in years, topping Amazon.com’s best-seller list throughout the weekend.

Winfrey, publishing’s most established hit maker, knows the Obamas well, to the point where Michelle Obama and Ellen DeGeneres once teased each other over who was closer to her.

Winfrey was a prominent backer of Barack Obama’s candidacy in 2008 and has interviewed both Obamas over the years. She is scheduled to be onstage Tuesday night with Michelle Obama at Chicago’s United Center, the first stop on Obama’s promotional tour.

Winfrey has already taped an interview with Obama, which airs Thursday on the OWN network, and excerpts of the book will appear in O, the Oprah Magazine and in Elle. A two-part podcast will run Thursday and the following Monday, November 19.

“Becoming” is Winfrey’s first pick by an author from the political world since she started her club in 1996, although Obama has said repeatedly she has no interest in running for office. Winfrey’s previous picks have ranged from novels such as Colson Whitehead’s “The Underground Railroad” and Tayari Jones’ “An American Marriage” to Anthony Ray Hinton’s memoir “The Sun Does Shine.”
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Blue Eyes Special: Frank, Barbara Sinatra Auction Upcoming

By Uponent | | No Comments | Entertainment

More than 200 items belonging to Frank and Barbara Sinatra ranging from movie scripts to jewelry are going up for auction.

Sotheby’s on Monday unveiled the contents of Lady Blue Eyes: Property of Barbara and Frank Sinatra, which will go on the block in a series of auctions in New York in December. Sotheby’s says the items, gathered over the couple’s 22-year marriage, portray their public and private lives.

 

Barbara Sinatra’s 20-plus-carat diamond engagement ring, which Frank Sinatra presented to her in a glass of champagne, is among the jewelry up for bid.

 

Copies of scripts include “From Here to Eternity,” for which Sinatra won an Academy Award, and “Ocean’s 11.”

 

Paintings, signed letters and personal accessories also are available.

 

A portion of the proceeds will benefit the Barbara Sinatra Children’s Center in Rancho Mirage, California.

 

 
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Macron, Tech Giants Launch ‘Paris Call’ to Fix Internet Ills

By Uponsil | | No Comments | Silicon Valley

France and U.S. technology giants including Microsoft on Monday urged world governments and companies to sign up to a new initiative to regulate the internet and fight threats such as cyberattacks, online censorship and hate speech.

With the launch of a declaration entitled the ‘Paris call for trust and security in cyberspace’, French President Emmanuel Macron is hoping to revive efforts to regulate cyberspace after the last round of United Nations negotiations failed in 2017.

In the document, which is supported by many European countries but, crucially, not China or Russia, the signatories urge governments to beef up protections against cyber meddling in elections and prevent the theft of trade secrets.

The Paris call was initially pushed for by tech companies but was redrafted by French officials to include work done by U.N. experts in recent years.

“The internet is a space currently managed by a technical community of private players. But it’s not governed. So now that half of humanity is online, we need to find new ways to organize the internet,” an official from Macron’s office said.

“Otherwise, the internet as we know it today – free, open and secure– will be damaged by the new threats.”

By launching the initiative a day after a weekend of commemorations marking the 100th anniversary of World War I, Macron hopes to promote his push for stronger global cooperation in the face of rising nationalism.

In another sign of the Trump administration’s reluctance to join international initiatives it sees as a bid to encroach on U.S. sovereignty, French officials said Washington might not become a signatory, though talks are continuing.

However, they said large U.S. tech companies including Facebook and Alphabet’s Google would sign up.

“The American ecosystem is very involved. It doesn’t mean that in the end the U.S. federal government won’t join us, talks are continuing, but the U.S. will be involved under other forms,” another French official said.

 
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Asian-Americans Bring Diverse Perspective to Comics, Graphic Novels

By Uponent | | No Comments | Entertainment

Diversity in the comic and graphic novel industry in the United States has increased with the growing number of artists who have international backgrounds. VOA’s Dhania Iman reports from San Diego, Calif., on two Asian-American authors who are contributing to the industry’s diversity.
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Black, Asian Ballerinas Now Can Buy Shoes That Match Their Skin Tone

By Uponent | | No Comments | Entertainment

The typical image of ballerinas is of agile dancers in shiny pink slippers. An American company began offering brown-toned slippers last year, and last month, Britain’s oldest ballet apparel supplier began offering shoes made to better match the skin color of nonwhite dancers. VOA correspondent Mariama Diallo reports.
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Japan’s Abe Calls for Public Works Spending to Help Economy 

By Uponbiz | | No Comments | Business

Japan’s Prime Minister Shinzo Abe called Monday for a new public works spending program to stimulate the economy amid growing concerns about global risks. 

The spending, which is expected in the first half of next fiscal year starting in April, will focus on strengthening infrastructure to withstand earthquakes and frequent flooding, according to a presentation made at the Council on Economic and Fiscal Policy (CEFP). 

Some of Japan’s top government advisers also called for stimulus to offset a decline in consumption expected after an increase in the nationwide sales tax in October next year. 

The rush to approve public works spending and other measures to support consumption highlights growing concern among policymakers about the economy. 

“The prime minister asked me to take firm measures to ensure that our economic recovery continues,” Economy Minister Toshimitsu Motegi said at the end of the CEFP meeting. “He also said the public works spending program expected at the end of this year should be compiled with this point in mind.” 

Japan’s economy is forecast to contract in July-September, and a recent slump in machinery orders suggests any rebound in the following quarters is likely to be weak if exports and business investment lose momentum. 

Government ministers will compile a preliminary public works plan by the end of this month and then submit a final version of the plan by year’s end, according to documents used at the CEFP meeting. 

Urgent matter

Members of the CEFP did not say how large the spending program should be or how the government should fund the package. At the meeting, Abe said compiling the package has become an urgent matter, according to a government official. 

Japan’s government is considering a 10 trillion-yen ($87.77 billion) stimulus package to offset the impact of a sales tax hike next year, sources told Reuters last week, as concerns about consumer spending and the global economy grow. 

Increasing spending on public works started to gain support after a strong earthquake in September caused a blackout in the northern island of Hokkaido and a series of typhoons damaged transport infrastructure in western Japan. 

The advisers on the CEFP are academics and business leaders who are considered close to Abe, so their recommendations often influence policy decisions. 

The CEFP met earlier Monday to debate consumer prices and fiscal policy, which is where the advisers made their recommendations. 

The advisers did not lay out the specific steps the government should take to stimulate consumption, but government officials have previously said they are considering shopping vouchers for low-income earners and more spending on public works. 

The nationwide sales tax is scheduled to rise to 10 percent in October 2019 from 8 percent currently. The government already plans to exempt food and some daily goods from the tax hike to soften the blow, but there is still a lot of concern that the tax hike will wreck consumer spending and sentiment. The economy was tipped into a recession the last time the tax was raised in 2014. 

Advisers at the CEFP meeting also threw their support behind the government’s plan to encourage mobile phone carriers to lower smartphone fees, saying they hoped the move would increase households’ disposable incomes. 
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