May 9, 2024

Archives for February 2021

From Britney Spears to Janet Jackson, the Era of the Celebrity Reappraisal

Such reappraisals have become common over the past several years. In the midst of #MeToo and a reckoning over racial injustice, people have begun to re-examine the art, music, monuments and characters on whom cultural significance has been placed.

But this current wave revolves not around individuals so much as the machine that produced them: the journalists, the photographers, and the fans — who were reading, watching, buying.

“To me, the question is, what do we do when a whole culture essentially becomes the subjugator?” Monica Lewinsky said in a recent interview. “How do we unpack that, how do we move on?”

In his book, “The Naughty Nineties,” David Friend, an editor at Vanity Fair, described how the market for humiliation thrived in the early ’90s, a trend that can be traced, in part, to the rise of tabloid talk shows such as “The Jerry Springer Show.”

Gossip magazines ruled during this time, which meant that the paparazzi did, too. They photographed under skirts, chased cars down winding roads, competing, often dozens at a time, for images that could fetch millions.

But the race for the most salacious shot was never an equal-opportunity game. It was not young men who appeared in photos with their bra straps showing and their makeup smeared, or had their breasts enlarged in postproduction without their knowledge, as was the case for Ms. Spears on a 2000 cover of British GQ, according to the photographer, who recently posted about it on Instagram. While white women were scrutinized on the covers of magazines, Black artists were told, as Beyoncé was, that they’d never get covers at all — “because Black people did not sell.”

Article source: https://www.nytimes.com/2021/02/27/style/britney-spears-documentary-jackson-celebrity-reappraisal.html

World’s wealthiest clash over bitcoin: Gates advises to stay away, while Musk causes cryptocraze

The Microsoft co-founder, who boasts the third-largest fortune in the world and calls himself a “bitcoin skeptic,” took on the world’s most popular cryptocurrency several times this week. In one of his recent chats on the popular Clubhouse app, he pointed out that the production of bitcoin is harmful to the environment. “Bitcoin uses more electricity per transaction than any other method known to mankind,” Gates said.

The statement came around two weeks after researchers at the University of Cambridge found that bitcoin mining consumes more electricity than some countries do – for example, Argentina.

Also on rt.com Bill Gates wants ‘rich nations’ to switch to 100% SYNTHETIC beef to save the planet

As the token started to tumble this week, Gates said in an interview with Bloomberg that, while price fluctuations might not be a concern for the likes of the “sophisticated” and wealthy Tesla CEO, the risks would be worrisome for other people. “I do think people get bought into these manias who may not have as much money to spare. My general thought would be that if you have less money than Elon, you should probably watch out, he said.

This week saw a halt to bitcoin’s record rally, as it plunged from a near-record $58,000 to its current level of around $47,300, according to data from CoinDesk.

Also on rt.com ‘Who let the Doge out?’ Musk’s favorite canine-crypto smashes another record high as celebrities jump on board

Meanwhile, Musk has been actively promoting the use of bitcoin, predicting it could soon win wider recognition. His company, Tesla, recently piled $1.5 billion into the cryptocurrency and explored the option of accepting the token as payment. Despite defining the move as “adventurous,” he still believes investing in bitcoin is less “dumb” than investing in fiat money, he has said.

Musk has also been busy tweeting about another token, the joke cryptocurrency dogecoin, triggering another trading frenzy. One of his recent tweets included an image of the coin’s mascot, the meme-famous Shiba Inu, standing on the Moon. However, those dogecoin-related tweets have reportedly triggered an investigation by the US Securities and Exchange Commission (SEC). Musk is no stranger to drawing the ire of the regulators – in 2018, the SEC filed a lawsuit against him after he announced he had secured funding to take Tesla private.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516760-gates-musk-bitcoin-investment/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

China’s Xiaomi wants to create global manufacturing hub in India

Xiaomi teamed up with two local companies, BYD and DBG, to set up mobile phone manufacturing plants, the Chinese firm announced on Thursday. One of the facilities, located in the northern state of Haryana and owned by DBG, is already operational. The other plant in Tamil Nadu is set to go online within the first half of this year.

A television manufacturing plant has been set up in partnership with Radiant Technology in Telangana. Xiaomi did not elaborate on when the third of the new plants is set to open.

Also on rt.com China’s Xiaomi overtakes Apple as world’s third-largest smartphone maker

The company has been the top smartphone and TV brand in India and already runs several plants in the country, including those in partnership with Foxconn and Flex. Boosting local production will allow the tech giant to manufacture over 99 percent of its smartphones as well as all of the televisions it sells in India.

“We hope to play a small role in building India as a global manufacturing hub,” Xiaomi India Head and Global Vice President Manu Jain said in a statement.

Also on rt.com China to build over 600,000 new 5G stations in 2021

In a separate interview with Indian daily Mint, Jain noted that India could become an export hub for Xiaomi in the future. He said that last year the company exported India-made products to nearby countries like Bangladesh and Nepal.

“We would love to see India as an export hub,” Jain said. “Once we meet 100% of the local demand is when we will start thinking of further increasing out-export.”

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516547-xiaomi-opens-plants-india/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Unmasking mysterious bitcoin inventor may send cryptomarket into tailspin, Coinbase warns

In its IPO filing sent to the Securities Exchange Commission earlier this week, Coinbase listed Nakamoto, an individual creator or a group of people thought to be behind the creation of the world’s largest cryptocurrency, as one of the recipients of the document. 

However, the same anonymous inventor could pose a risk to the entire “cryptoeconomy.” According to the filing, if the identity is revealed or if Nakamoto’s bitcoins are transferred, the prices of the most valued digital coins, bitcoin and ethereum, may deteriorate.

Also on rt.com Bye-bye bitcoin rally? Cryptocurrency slumps by 20 percent in worst week in almost a year

The creator, or a group of creators, are believed to hold around 1.1 million bitcoin, which account for around five percent of all bitcoins that can be ever mined. At bitcoin’s current value, Nakamoto’s fortune could exceed $50 billion, making him almost as rich as Chinese entrepreneur and the founder of Alibaba, Jack Ma.

Since Nakamoto published the white paper titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’ in 2008, various theories have emerged about his identity. However, little is still known about him.

Also on rt.com Investing in bitcoin ‘less dumb’ than holding cash, but only slightly better – Elon Musk

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516678-satoshi-nakamoto-return-risk/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Indian economy finally returns to growth, beating Covid-driven recession

India’s real gross domestic product (GDP) rose 0.4 percent in the third quarter of its fiscal year, returning the economy to “the pre-pandemic times of positive growth rates,” the Ministry of Finance said as the new data emerged.

However, the growth rate was slightly smaller than analysts had expected, with those polled by Bloomberg having predicted a 0.6-percent expansion.

Also on rt.com Bitcoin out, digital rupee in: India cracks down on private cryptocurrencies while seeking to launch its own digital coin

The Asian economic powerhouse still performed better than most of its European peers in the final three months of the pandemic year. The eurozone economy shrank by 0.7 percent in that period, with even its strongest economies like France failing to post growth.

The growth in India came after two consecutive quarters of decline, which is defined as a technical recession. India suffered a record contraction of 24 percent in the April-June quarter, when the government imposed strict lengthy lockdowns to contain the spread of the deadly virus. In the following three months, India’s GDP fell by seven percent, in what the government says was the beginning of a V-shaped recovery.

Also on rt.com India to become world’s fastest-growing economy in 2022, says IMF

As the fiscal year finishes in March in India, the final results showing the scale of economic consequences from the coronavirus outbreak will be available in May, when the official GDP estimates for the January-March quarter are set to be published. According to analysts’ projections, India’s economy may shrink 7.7 percent for the full fiscal 2021 year before growing by as much as 10 percent in the following year.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516754-indian-economy-exits-recession/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

They Were on Equal Footing. Then the Ground Shifted.

“You just got to scrape along and gut it out,” he said. “We’re really struggling to get by.”

But in Ms. Arnone’s other field, home appraising, her friends and colleagues are reaping rewards from the booming housing market, where January sales were up 23.7 percent from a year earlier, according to the National Association of Realtors. Ultralow mortgage rates have prompted a wave of refinancings, which require fresh appraisals.

“I don’t have much to complain about,” said Traci Warner, a friend of Ms. Arnone’s and a home appraiser in Waldorf, Md., south of Washington. After her husband was laid off from his sales job in April, Ms. Warner’s work picked up the slack.

It’s not that things are perfect, but unlike Mr. Gallagher, she does not feel that she is barely hanging on.

This contrast is mirrored in the larger economy. Weekly unemployment claims by newly laid-off workers remain at historically elevated levels even as stock indexes reach record highs.

Vaccines have arrived, but their slow rollout means it will be months before anything resembling normal activity can resume at restaurants, hotels, gyms, airports, malls and other businesses that depend on bringing people together.

“It’s very uneven,” said Gregory Daco, chief U.S. economist at Oxford Economics, a forecasting and research group. “The recovery for the most vulnerable parts of the population will take years.” Not only are wages and salaries down for the hardest-hit segments of the work force, he noted, but so are overall employment and participation in the labor force.

At the very top, the gains have been staggering. In eight months after the pandemic hit the United States, the wealth of the country’s roughly 650 billionaires grew by $1 trillion, according to a November study by the Institute for Policy Studies and other progressive groups. That included a $70 billion lift for just one of those magnates: the founder of Amazon, Jeff Bezos.

Article source: https://www.nytimes.com/2021/02/27/business/economy/unequal-economic-recovery.html

NYSE to delist oil giant CNOOC as Biden reviews Trump’s policies on China

The decision will take effect on March 9, the US stock exchange said in a statement released after the closing bell on Friday. The NYSE said CNOOC, formally known as China National Offshore Oil Corporation, is “no longer suitable for listing” as it was one of the targets of Trump’s November order that banned investments into Chinese companies the US claims have ties with the Chinese military. 

Also on rt.com China may exercise ‘nuclear option’ against US defense industry with rare-earths export ban – reports

The delisting decision, which can be appealed by CNOOC, was enacted several months before the investment ban was set to officially come into force. Last month, the Biden administration pushed the deadline back from January to May 27.

The extension came as the new administration was reviewing actions that Trump had taken against China, such as trade policies and the inclusion of dozens of Chinese firms in two blacklists that were repeatedly expanded. In December, CNOOC ended up on the Pentagon’s blacklist, which prohibits investment into what it deems “communist Chinese military companies.” Just days before Biden’s inauguration in January, the oil group was also added to the infamous Entity List, which makes it harder for it to be supplied with exported US technology. 

Also on rt.com Full decoupling from China could wipe out hundreds of billions from economy – US Chamber of Commerce

The delisting of the oil major follows a similar Wall Street move to ditch three major telecommunications corporations – China Mobile, China Telecom, and China Unicom (Hong Kong) – that had been present on the US market for nearly two decades. After the initial delisting announcement, the NYSE actually changed its mind at one point, but finally moved to enforce the plan to suspend trading in their shares.

Beijing has repeatedly warned Washington against hurting its businesses, saying that the delistings violate both market competition principles and international economic and trade rules. However, Chinese officials have stressed, while such removals from US stock markets may hurt American investors, they won’t cut off Chinese businesses from foreign capital inflows.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516741-nyse-delists-china-cnooc/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Gold price could drop to $1,200 per ounce by 2023, warns Fitch

According to Fitch, prices for many commodities “will benefit in the short term from returning demand while the supply response remains slow and inventories are running low.”

The ratings agency said it expects gold prices to drop to $1,200 per troy ounce by 2023.

Also on rt.com Central banks do not have the physical gold they pretend to have, fund manager tells Keiser Report

The price of the precious metal has been under some significant pressure lately. Gold prices fell below the $1,800 level this week, extending losses due to weak safe-haven demand and rising yields for US bonds, which push gold prices down. Prices slid more than one percent on Friday to $1,734 an ounce.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516553-fitch-gold-price-decrease/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Loretta Whitfield, Whose Black Doll Was ‘Ahead of Its Time,’ Dies at 79

Loretta Mae Thomas was born on Feb. 17, 1941, in Wellington, Kan. Her family moved to Washington after her father, Jesse, got a job as a clerk at the Pentagon. Her mother, Verna Mae (Hayden) Thomas, also worked for the federal government.

Loretta entered Eastern High School in 1954, the same year the Supreme Court struck down school segregation in Brown v. Topeka Board of Education. Dolls played an important part in that case: Thurgood Marshall, the lead lawyer, relied on research by the psychologists Kenneth and Mamie Clark that showed Black children had a preference for white dolls — evidence that segregation taught them that being Black meant being inferior.

She graduated magna cum laude from Howard University in 1962 and later received a master’s in psychology from American University in Washington.

The Whitfields were not the only people in the mid-1980s thinking about Black dolls, said Fath Davis Ruffins, a curator at the Smithsonian Institution and an expert in Black consumer culture.

In 1968 Mattel began selling Christie, marketed as a Black friend to Barbie. In 1980 Kitty Black Perkins, one of the company’s few Black product designers, created the first Black Barbie, complete with an Afro.

And in the late 1970s, Ms. Ruffins said, Black artists had already begun selling handmade Black dolls with realistic features at markets and art fairs. A few other entrepreneurs had even sold mass-produced dolls like Baby Whitney.

Article source: https://www.nytimes.com/2021/02/25/business/loretta-whitfield-dead.html

Amazon Moves From Film Industry’s Margins to the Mainstream

“Those movies all kept coming out as No. 1,” said Ms. Salke, referring to the films’ performances on Amazon Prime. “Every time we launched one, the next one would eclipse the next one. We were training our audience to know that we would have big original films that were more commercial on Prime Video. It’s a little bit of an ‘If you build it, they will come’ strategy.”

But what happens to that plan once the pandemic is over and studios are no longer willing to sell their movies to streaming platforms?

Amazon has some 34 films in various stages of production around the world, and Ms. Salke said the company was committed to spending upward of $100 million on a production if merited. (Amazon’s founder, Jeff Bezos, is stepping down as the company’s chief executive this year, but the studio isn’t expecting any big changes when Andy Jassy takes the reins.)

The Culver City, Calif., complex is still being built, and, if anything, investment has increased. Ms. Salke points to Aaron Sorkin’s upcoming film about Lucy and Desi Arnaz, starring Nicole Kidman and Javier Bardem, as a potential hit. There’s also George Clooney’s film “The Tender Bar,” starring Ben Affleck, and an L.G.B.T.Q. romantic drama, “My Policeman,” featuring Harry Styles and Emma Corrin (“The Crown”).

“The new news is that you will see us embrace some bigger projects going forward that are self-generated,” she said.

In Ms. Salke’s mind, this was always the place where Amazon Film was going to land. And there is a newfound confidence to her outlook as she celebrates her third anniversary as the head of the studio. In addition to her recent acquisition spree, she has made overall content deals with Mr. Jordan and the actor and musician Donald Glover, which she says will reinforce her mission to burnish Amazon’s reputation as a talent-friendly place.

With its healthy subscription base, Amazon is attracting those in Hollywood who are interested in the company’s global reach but also curious about the company’s other businesses that have the potential to expand a star’s brand beyond film and television.

Article source: https://www.nytimes.com/2021/02/26/business/media/amazon-films-jennifer-salke.html