Global Breaking News - Monday, May 6, 2024
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[Misc] (HL-20200419~20200425) Weekly Headlines Review
최고관리자 | 20-04-18 01:38
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!!! Coronavirus Worldwide !!!
!!! A state-by-state breakdown of US coronavirus cases !!!
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(Mon) Coronavirus to push China's Q1 GDP into first decline on record
중국 1분기 GDP, 코로나바이러스에 사상 최초로 감소 전망
The Coronavirus health crisis has likely sent China's economy into its first Q1 decline since records began. The pandemic - which originated in the country's Hubei province – ground production to a halt as authorities curbed people's movements. Factories, transport and shopping malls were all shut down. While China is slowly easing restrictions, other countries face similar lockdowns as the virus spreads globally. And any drop in demand outside of China could severely hurt its huge export sector. Now analysts forecast Chinese GDP shrank 6.5% between January and March from a year earlier. Reversing 6% growth seen at the end of 2019. China's Central Bank took drastic action to support the economy on Wednesday. It cut a key rate to a record low. Financial institutions can now get a one-year medium-term loan at 2.95%. The Central Bank also reduced the amount banks must hold in reserve by around $28 billion. The moves should inject around $43 billion into the financial system. China's Q1 GDP figures are due on Friday.
(Tue) Amazon to put online grocery customers on wait list
아마존, 온라인 식료품 구매자들 대기 명단에 올려
Amid surging demand, Amazon said it will put all new online grocery customers on a wait list starting Monday and reduce shopping hours at some Whole Foods stores to prioritize online orders. For example, the Whole Foods at Bryant Park in New York City sent out an email saying it was temporarily closed to focus on internet-only customers. Many recent online shoppers have found they could not place orders due to a lack of available delivery slots. Amazon, which acquired Whole Foods in August 2017, is now leveraging its presence both online and in physical stores to handle high demand from consumers who are stuck eating at home. Under pressure to do more to protect workers, Amazon recently added daily employee temperature checks and is supplying employees face masks and gloves. Over 50 Amazon fulfillment centers and several Whole Foods stores had confirmed COVID-19 cases, according to multiple reports.
(Wed) China opposes U.S. action against China Telecom
중국 정부, 미국의 차이나텔레콤 퇴출 움직임에 반대입장 표명
The U.S. Justice Department and other federal agencies on Thursday called on the Federal Communications Commission to revoke China Telecom Corp's authorization to provide international telecommunications services to and from the United States. The agencies, including Homeland Security, Defense and State, cited " substantial and unacceptable national security and law enforcement risks associated with China Telecom’s operations." Chinese foreign ministry spokesman Zhao Lijian told reporters that the United States must stop politicizing commercial matters. "China has noticed relevant reports, and China is firmly opposed to it. The Chinese government has always required Chinese companies to do business based on market principle and to be compliant with the law. Concurrently, we also require them to abide by the local laws and regulations. We urge the U.S. to follow market principle, stop generalizing national security, stop the mistaken action of politicalizing economic issues, stop oppressing Chinese companies with no reason. And provide a fair, just and non-discriminative environment for Chinese companies." China Telecom has rejected the allegations and said it has "been extremely cooperative and transparent with regulators."
(Thu) OPEC, Russia approve biggest ever oil cut
OPEC, 러시아 사상 최대 규모의 원유 감산에 합의
OPEC, Russia and other oil producing nations agreed on Sunday to cut oil output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic. The group, known as OPEC+, agreed to reduce output by 9.7 million barrels per day for May-June, after four days of marathon talks and following pressure from U.S. President Donald Trump to stop the price decline as measures to fight the virus have weakened demand. Trump had threatened OPEC leader Saudi Arabia with oil tariffs and other measures if it did not fix the market's oversupply problem as low prices have put the U.S. oil industry, the world's largest, in severe distress. OPEC+ has said it wanted producers outside the group, such as the United States, Canada, Brazil and Norway, to cut a further 5% or 5 million barrels per day. Global oil demand is estimated to have fallen by a third as more than 3 billion people are locked down in their homes due to the coronavirus outbreak.
(Fri) Disney+ subscribers pass 50 million mark
디즈니+, 스트리밍 가입자 5천만 명 돌파해
Disney was late to the video streaming game. But it's making up for lost time. The company says subscribers have passed the 50 million mark just five months after launch. No fewer than 8 million of those are in India, where the Disney+ service rolled out only last week. Analysts say viewers have been won over by strong content. Besides the famous animated movies, Disney also owns franchises including Star Wars and the Marvel comics movies. For now it's a still a long way behind rival Netflix though. It has nearly 167 million paid subscribers in over 190 countries. But it will be watching its new competitor very carefully. Disney+ is steadily spreading worldwide. It rolled out to eight European countries, including the UK, France and Germany, over the past two weeks. And the timing could hardly be better. With seemingly the whole world stuck at home, demand for video streaming has never been higher.
** Other Latest Headlines **
* America's broken healthcare exposed by virus
In the wealthiest country in the world, the Covid-19 pandemic has exposed the core of a healthcare system that is structurally incapable of dealing with the pandemic. Federal and local governments, health insurers and employers have pledged to help Americans pay their way through this crisis, but to do so requires a dramatic overhaul of a system which has for decades prioritized cost over care. “As this epidemic makes clear, at any moment, any of us could become sick, could become hospitalized, could be on a mechanical ventilator,” said Adam Gaffney, an ICU doctor in Boston. “And that, in the United States, could mean potentially ruinous healthcare costs.”
* Trump says he’ll ‘suspend immigration,’ offers no details
President Donald Trump said Monday that he will sign an executive order “to temporarily suspend immigration into the United States” because of the coronavirus. “In light of the attack from the Invisible Enemy, as well as the need to protect the jobs of our GREAT American Citizens, I will be signing an Executive Order to temporarily suspend immigration into the United States!” Trump tweeted. He offered no details as to what immigration programs might be affected by the order. The White House did not immediately elaborate on Trump’s tweeted announcement. Trump has taken credit for his restrictions on travel to the U.S. from China and hard-hit European countries, arguing it contributed to slowing the spread of the virus in the U.S. But he has yet to extend those restrictions to other nations now experiencing virus outbreaks.
* One $1,200 stimulus check won’t cut it. Give Americans $2,000 a month tax-free to fire up the economy
Since the coronavirus struck our shores, my focus has been on keeping Americans safe and ensuring working people don’t get left behind. Their struggles today are greater than ever. Too many have suffered job losses, shrinking income, isolation, and health issues — all while caring for children and other loved ones. The one-time $1,200 stimulus check that many Americans are now receiving under the CARES Act was a good start, but it does not go far enough as this quarantine enters its second month. Rent is still due, credit card bills keep coming in, utilities still need to be paid, our phone plans haven’t gotten cheaper, we still need to buy groceries to feed our families. How far do politicians think one $1,200 check can stretch? That is why Representative Ro Khanna (D-CA) and I introduced the Emergency Money for the People Act, which will provide almost every American $2,000 per month until employment levels reach pre-coronavirus levels. Every American age 16 and older who earns less $130,000 per year will receive this money tax-free.
* Social Security and Medicare funds at risk even before virus
The financial conditions of the government’s two biggest benefits programs remain shaky, with Medicare projected to become insolvent in six years and Social Security on track to no longer be able to pay full benefits starting in 2035. And that’s without accounting for the impact of the coronavirus, which is sure to impose further pressure on the two programs. For Social Security, the projected 2035 date for exhausting the trust fund reserves means that it would be able to pay only 79% of benefits at that time. The projected timetables, which remained unchanged from last year’s estimates, were revealed Wednesday with the release of the annual trustees reports of both programs. Even if employment rebounds by the end of this year and payroll taxes return to near-normal levels, the shock from the pandemic shutdown could accelerate the depletion of the Social Security trust fund by about six months, officials told reporters. If a recession extends into next year, it could mean that a depletion would come a full year earlier. The consequences may be worse for the Medicare program, which in this report is estimated to deplete its reserves in 2026. The expected recession, projected by economists to be the deepest since the 1930s, will mean fewer people paying into Social Security and Medicare. Compounding the problem, the pandemic will impose heavier caseloads on the health program, which provides care for those 65 and older.
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