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[Misc] (HL-20200426~20200502) Weekly Headlines Review
ÃÖ°í°ü¸®ÀÚ  |  20-04-24 10:53
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!!! Coronavirus Worldwide !!!

!!! A state-by-state breakdown of US coronavirus cases !!!

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(Mon) Bug in iPhone, iPad may have opened door to hackers
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Apple is planning to fix a glitch that a security firm said may have left more than half a billion iPhones vulnerable to hackers. CEO of U.S. security company ZecOps¡¯ - Zuk Avraham - said he found evidence that the bug was exploited in at least six cybersecurity break-ins as far back as January 2018. Apple acknowledged a vulnerability in its Mail app for iPhones and iPads and said it will be rolling out a fix for millions of devices. But Apple declined to comment on Avraham¡¯s research that suggests the flaw could be triggered from afar and that it had already been exploited by hackers against high-profile users and a Fortune 500 North American technology company. Avraham said a blank email message forced a crash and reset of the Mail app - which allegedly opened the door for hackers to steal data, such as photos and contact details and possibly confidential messages. Avraham, a former Israeli Defense Force security researcher, said he suspected that the hacking technique was part of a chain of malicious programs, which could have given an attacker full remote access. Apple declined to comment on that prospect.

(Tue) Will food prices rise?
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As agricultural production and food supply chains are disrupted , commodity markets are responding. Wheat futures surged to two-month highs in March, as people turn to baked goods and pastas. "Before this quarantine , we rarely made bread. Now, as we are forced to stay at home, having a small girl and wanting to entertain her, we often make bread and pies at home. This week we used around two and a half or three kilos of flour." In contrast , corn maize sank to a three-and-a-half year low, as biofuel demand dipped with grounded transport. Swings in the markets reflected on traders¡¯ screens aren¡¯t necessarily filtering through to those on the streets. Food firms typically buy raw materials in advance. But a sustained rise in prices will eventually be passed on to consumers. The U.N. warned a rush to buy staples, by countries that rely on imports, could fuel global food inflation - despite ample reserves. Fresh produce reflects more immediate changes in supply and demand. For Californian farmer Jack Vessey, instead of supplying this year¡¯s harvest to restaurants, he¡¯s had to destroy his crops. "Not to see it harvested and being able to feed the nation is stressful and hurtful and emotionally tough."

(Wed) Wall Street drops as U.S. crude crashes below $0
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Stocks on Wall Street fell sharply on Monday amid a historic fall in oil prices. The price for a barrel of West Texas crude due to be delivered next month turned negative for the first time ever , ending the day at a jaw-dropping minus $37.63 a barrel. Meaning sellers were willing to pay buyers to have it taken off their hands as storage capacity runs low. Demand for oil has dried up - creating a global supply glut - as billions of people stay home under government orders. Loreen Gilbert is president of WealthWise Financial Service: "We are seeing historic lows in the oil pricing and we are seeing OPEC start to come together and it is an important part of the important economy but right now we have a supply glut. Hopefully, they will be able to come up with a greater plan. Ultimately what's needed is more cuts so OPEC is going to have to cut more." The stunning drop in oil prices dragged down shares of energy companies Exxon Mobil and Chevron. Both ended the day down 4 percent. Year to date, the S&P 500 energy index has lost 45%, by far the worst performer among the S&P's 11 sectors.

(Thu) Disney suspends pay for 100,000 employees: FT
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The Happiest Place on Earth will stop paying nearly half its workforce this week. The Walt Disney is looking to save money as global lockdowns have shuttered its parks, hotels and cruises. That's according to the Financial Times, which reported the world¡¯s largest entertainment company will stop paying more than 100,000 employees. A measure that the company expects will amount to $500 million in monthly cost-savings. The move comes after Disney just last week announced it would start furloughing non-essential employees in the U.S. Disney said it would provide full health care benefits for all employees who have been placed on unpaid leave. According to the Financial Times, its parks, experiences and products business last year brought in nearly $7 billion last year, making up nearly half of its total operating profits.

(Fri) Facebook tries again with its Bitcoin rival
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Facebook¡¯s planned rival to Bitcoin could now launch by mid-November. That¡¯s around five months later than planned. But the so-called Libra cryptocurrency has faced some sharp criticism . Opponents are alarmed by the thought of Facebook¡¯s 2.5 billion users adopting it. They say that could destabilize monetary policy , aid money laundering and erode privacy. Countries including France and Germany said they could block it. Now Libra¡¯s governing body has a new plan it hopes will mollify sceptics. It says Libra will now offer a series of so-called ¡®stablecoins¡¯, each backed by a single national currency. The dollar, euro and sterling are likely. There will also be a Libra Coin that is a composite of the different currencies. A college of central banks and regulators from 20 countries will have a say in its licensing. Libra says the redesign will help governments transform payment systems, and deliver its initial goal of helping people who lack access to banks. The sceptics will be taking a very close look.

** Other Latest Headlines **

* Antibody survey shows wide exposure to virus in NY

More evidence is emerging that far more New Yorkers have had the coronavirus than the number confirmed by lab tests, officials said Thursday, offering insight that could help authorities decide how and how quickly to let people stop isolating from friends and return to work. Blood samples collected from about 3,000 people indicated that nearly 14% had developed antibodies to fight a coronavirus infection, Gov. Andrew Cuomo said at his daily news briefing. In New York City, the epicenter of the pandemic in the U.S., 21% of the people tested had antibodies. It¡¯s not know yet how much protection antibodies provide or how long that immunity might last, and Cuomo cautioned that the data was preliminary. The sample of people tested was small. Participants were hastily recruited at shopping centers and grocery stores, meaning they were healthy enough to be out in public. But the governor said knowing how many people have antibodies — and who might possibly be immune to the virus — could potentially help set policy on when to reopen parts of the state.

* Online learning goes mainstream as new normal

Seven-year-old Lee Sae-ron was supposed to become a first grader at Eulji Elementary School in Seoul in March at the start of the new school year. Unfortunately, she has been forced to wait, and instead began her first day of school Monday by taking online lessons because of the coronavirus pandemic. Instead of meeting her friends and homeroom teacher in person, she watched pre-recorded TV programs aired on the state-run Educational Broadcasting System. Lee said she doesn't have any idea of how a normal life at school would be and accepts the idea of attending school through an online platform as a "new normal." "It's fun watching the educational programs and using a computer tablet to study at home instead of attending class in person. My mom said I must feel sad about not meeting new friends and teachers, but you know, I can't miss friends and teachers whom I've never met," she said. Hong Eun-hee, 45, Lee's mother, said taking care of her daughter at home all day and helping her engage in remote learning was challenging. But she was surprised that her daughter had adapted to online school life faster than she had expected. "The concept of remote learning is nothing new, but younger children like my daughter take to it more naturally. They are the so-called digital natives who are more familiar with digital systems than adults are," Hong said.

Korea to grant visa for heroic Kazakh man who saved people from blaze

The government will grant a G-1 visa for the heroic Kazakh man who risked his life to rescue people from a burning building in Gangwon Province last month. According to the Ministry of Justice Thursday, the Korea Immigration Service is completing the paperwork to give the visa for the man, 28, identified only by his given name Ali, whose bravery saved 10 people from a burning apartment at a town in Yangyang County on March 23. He was scheduled to be deported after his illegal status came to light. The visa will allow him to continue to receive treatment at a hospital in Seoul. Ali suffered burns to his back, neck and hands while trying to rescue his neighbors. Unfortunately, a woman on the second floor died after inhaling too much toxic smoke.

* Universities refuse to refund tuition

Colleges have decided to not refund tuition despite facing growing calls from students as classes are being disrupted due to the COVID-19 pandemic, according to the association of university presidents Sunday. A network of 27 university student councils, who have demanded tuition refunds, had a meeting with the leadership of the Korean Council for University Education (KCUE) to discuss compensation through a reduction in tuition fees for the first time on Friday. During the meeting, however, the KCUE clearly stated that it would be difficult to refund the tuition fees as they could not afford to do so. They said their financial difficulties stemmed from a tuition freeze over the past 10 years, and recent spending to quarantine international students, disinfect facilities and prepare for remote classes. The Ministry of Education also had a discussion on the issue with the KCUE on April 10, but Vice Education Minister Park Baeg-beom said the tuition refund is "a matter to be decided by the university presidents," during the meeting. Instead of refunding tuition, the association said universities are willing to provide special grants to support students suffering from the financial problems due to the virus pandemic.

A flood of business bankruptcies likely in coming months

The billions of dollars in coronavirus relief targeted at small businesses may not prevent many of them from ending up in bankruptcy court. Business filings under Chapter 11 of the federal bankruptcy law rose sharply in March, and attorneys who work with struggling companies are seeing signs that more owners are contemplating the possibility of bankruptcy. Companies forced to close or curtail business due to government attempts to stop the virus¡¯s spread have mounting debts and uncertain prospects for returning to normal operations. Even those owners receiving emergency loans and grants aren¡¯t sure that help will be enough.