In 2020, 56% of Americans agreed that journalists were purposely trying to mislead people, illustrating an unprecedented dip in confidence in the press. With that backdrop, and in an election year with peak political polarization, rolling out a brand-new media publication was “absurd,” admits Nabiha Syed, president of The Markup , a digital outlet focused on holding tech companies accountable. “How are we going to get people to trust us when they’ve never heard of us, especially when we are interrogating tools that people are using and are sometimes beloved?” advertisement advertisement But the founders felt that the site’s mission was critical: to investigate the power and practices of Big Tech. Plus, it was going to do things differently. The Markup is nonprofit newsroom, funded by philanthropists, including more than $20 million from Craigslist founder Craig Newmark. It is data-driven, and only publishes about twice a week, in order to be as … [Read more...] about This news outlet is exposing Big Tech’s practices by building its own tech tools
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Moneycontrol Pro Weekender | Shaktikanta Das refuses to pivot
RBI Governor Shaktikanta Das. (File photo) Dear Reader , A day before the monetary policy announcement, the yield on the 10-year bond fell sharply on a media report that the MPC would signal a pause after Friday’s hike. Thankfully, the MPC held firm, refusing to oblige the bond markets. Not only did it increase the repo rate by 50 basis points, but also the MPC signalled more rate hikes in future by refusing to tone down its ‘withdrawal of accommodation’ stance. Much is being made of the fact that the policy rate is now at the pre-pandemic level. At 5.4 percent, the repo rate is now back to where it was in September 2019. But that is no big deal. GDP growth was a measly 3.7 percent in 2019-20 compared to RBI’s projection of 7.2 percent in 2022-23; retail inflation was a much lower 4.8 percent in 2019-20, compared to a projected 6.7 percent for 2022-23; the current account deficit was a comfortable 0.9 percent of GDP in 2019-20 as against projections of around 3 percent … [Read more...] about Moneycontrol Pro Weekender | Shaktikanta Das refuses to pivot
Suspense over Jardine’s third attempt at CCB privatisation
This article first appeared in The Edge Malaysia Weekly, on August 1, 2022 - August 07, 2022. - A + A WILL it be third time’s the charm for Jardine Cycle & Carriage Ltd, which launched yet another unconditional takeover offer for Cycle & Carriage Bintang Bhd (CCB) on July 14? Jardine’s bid to acquire the rest of the shares in CCB that it does not already own — at an offer price of RM2.70 per share — marks its third attempt at making CCB a fully owned subsidiary. As with the first two exercises, the current offer is expected to fall short, because even though it is higher than the previous offers of RM2.20 per share followed by another at RM2.40, it is still far from the RM4.65 enterprise value (EV) that the main dissenting shareholder Datuk David Goh contends it is worth. In an exclusive interview with The Edge in July last year, Goh said that the underlying value of CCB — one of the largest Mercedes-Benz dealerships in the country — was at … [Read more...] about Suspense over Jardine’s third attempt at CCB privatisation
CNN Exclusive: Biden administration offers convicted Russian arms dealer in exchange for Griner, Whelan
Washington (CNN) After months of internal debate, the Biden administration has offered to exchange Viktor Bout , a convicted Russian arms trafficker serving a 25-year US prison sentence, as part of a potential deal to secure the release of two Americans held by Russia , Brittney Griner and Paul Whelan, according to people briefed on the matter. These sources told CNN that the plan to trade Bout for Whelan and Griner received the backing of President Joe Biden after being under discussion since earlier this year. Biden's support for the swap overrides opposition from the Department of Justice, which is generally against prisoner trades. Kremlin spokesman Dmitry Peskov said Thursday that "so far, there is no agreement on this issue." Secretary of State Antony Blinken announced Wednesday that the US presented a "substantial proposal" to Moscow "weeks ago" for Whelan and Griner, who are classified as wrongfully detained. Speaking at a press … [Read more...] about CNN Exclusive: Biden administration offers convicted Russian arms dealer in exchange for Griner, Whelan
Under 60, healthy, vaccinated and boosted? ‘You’re in a pretty good place’ with Covid-19
(CNN) Data obtained by CNN from New York's largest health-care provider indicates you're very unlikely to become severely ill with Covid-19 if you're under age 60, up to date on your Covid-19 vaccines and don't have underlying health problems, backing up a government plan expected to be announced this week that will ease up on coronavirus restrictions . If you're young, healthy and vaccinated, "you're going to be in a pretty good place," said Dr. William Schaffner, a vaccine adviser to the US Centers for Disease Control and Prevention. "You're going to be well-protected." CDC expected to ease Covid-19 recommendations, including for schools, as soon as this week The data from Northwell Health shows that of the nearly 2,000 people hospitalized there for Covid-19 in May, June and July, about 80% were over 60. Nearly 90% had an underlying health problem such as hypertension or diabetes. Vaccination status was also critically important. … [Read more...] about Under 60, healthy, vaccinated and boosted? ‘You’re in a pretty good place’ with Covid-19
Russia Threatens, EU Reduces, US Industry Helps To Untangle The Natural Gas War In Europe.
Share to Twitter Share to Linkedin Both oil and gas exported from Russia bring in significant revenue that can be used to support the Russian war in Ukraine. But the export revenue from oil sales is much greate r than export revenue from gas sales. If the West stops buying oil this really hurts Russia – more than if the West stopped buying gas. Back in May, the EU agreed to ban all Russian oil imports by the end of 2022, at least those that are delivered by sea. That was a good move. Russia threatens to cut gas supplies to the European Union. Russia has realized that cutting natural gas doesn’t affect their export revenue (like oil does) but it affects the economies of EU countries a lot more. Russia supplied the EU with 40% of its gas last year , with Germany, Italy, and Netherlands the top three importers in actual volumes of gas. Germany had imported more than 50% of its gas from Russia via the Nord Stream 1 pipeline. By the end of June, … [Read more...] about Russia Threatens, EU Reduces, US Industry Helps To Untangle The Natural Gas War In Europe.
Acen’s Q2 profit up 25% as local operations rebounded
The Ayala group’s AC Energy Corp. (Acen) saw its second quarter consolidated net income jump by 25 percent to P1.8 billion as its domestic operations returned to profitability while its overseas projects revved up their output. Second-quarter results significantly improved — albeit not enough to reverse profit decline — in the first semester, with Acen’s net income falling by 19 percent to P2.2 billion. From April to June alone, Acen’s net income got a boost from fresh contributions from new power generators here and abroad, as well as the easing of transmission restrictions in the Visayas grid. Acen’s generators in the Visayas were forced to limit the output they delivered in the aftermath of Typhoon Odette in December, damaging transmission facilities. This worsened the “curtailment,” or forced reduction of supply deliveries, that had resulted in a June 2021 incident that damaged a major undersea transmission cable that links the islands of Negros and Cebu. The company said … [Read more...] about Acen’s Q2 profit up 25% as local operations rebounded
How this Family-Owned Retailer Capitalized on RushTok
Last August, sorority rush at the University of Alabama exploded on TikTok with Greek letters, glitter, and teenage girls explaining their #OOTD, or outfit of the day. The videos generated millions of views as people watched new college students share carefully curated ensembles for each round of the recruitment process--name-dropping well-known brands like Shein, Target, Kendra Scott, Kate Spade, and Steve Madden. But one unfamiliar name kept getting mentioned: the Pants Store. Founded as a wholesale warehouse for pants in 1950 in Leeds, Alabama, the Pants Store is a third-generation family business run by Michael Gee, whose grandfather started the company out of the trunk of his car. Not being a TikTok user, Gee had no idea his business had gone viral on the platform last year. It was his then-14-year-old daughter who told him. In just one week, online sales soared by more than 600 percent year-over-year. Orders from out of state--particularly from other college … [Read more...] about How this Family-Owned Retailer Capitalized on RushTok
Thailand News Today | Thailand no longer considers Covid “dangerous infectious disease”
Thailand’s Communicable Disease Committee no longer considers Covid a “dangerous infections disease”, the owner of the nightclub that burned down has been released on bail, and will Prayut resign at the end of this month? All this and much more, coming up in today’s program You’re watching Thailand News Today, bringing you the latest top stories in Thailand beyond. My name is Jett Gunther and in our first story, Thailand’s National Communicable Disease Committee decided to change the status of COVID-19 today (Monday), from a “dangerous infectious disease”, which came into effect on March 1 st , 2020, to an “infectious disease under watch”, tentatively from October 1 st , as Thailand cautiously transitions to a post-pandemic status. Chaired by Public Health Minister Anutin Charnvirakul, the committee also approved a policy guideline framework, encompassing several aspects of COVID-19 monitoring and containment efforts, such as controlling the spread of the disease by … [Read more...] about Thailand News Today | Thailand no longer considers Covid “dangerous infectious disease”
Opinion: Biden’s Afghanistan exit decision looks even worse a year later
Peter Bergen is CNN's national security analyst, a vice president at New America and a professor of practice at Arizona State University. Bergen's new paperback is "The Rise and fall of Osama bin Laden." from which this article is, in part, adapted. The views expressed in this commentary are his own. View more opinion on CNN. (CNN) In 1961, after a CIA-backed invasion of Cuba failed spectacularly, President John F. Kennedy said of the Bay of Pigs fiasco, "Victory has 100 fathers and defeat is an orphan." Peter Bergen Last week, President Joe Biden took a victory lap when he announced that the US had tracked down and killed its most wanted terrorist, al Qaeda leader Ayman al-Zawahiri, who was living in a house in Kabul, Afghanistan. Don't expect a similar celebration on August 30, the first anniversary of the US troop withdrawal from Afghanistan, which ended the longest war in American history. Any realistic assessment of that action shows that it … [Read more...] about Opinion: Biden’s Afghanistan exit decision looks even worse a year later