April 27, 2024

Archives for June 2021

Nikole Hannah-Jones Is Granted Tenure After Weekslong Dispute

“I had no desire to bring turmoil or a political firestorm to the university that I love, but I am obligated to fight back against a wave of antidemocratic suppression that seeks to prohibit the free exchange of ideas, silence Black voices and chill free speech,” she said in the statement, which was issued by one of the law firms representing her, the NAACP Legal Defense and Educational Fund.

A Legal Defense Fund spokeswoman said at the time that the university had unlawfully discriminated against Ms. Hannah-Jones “based on the content of her journalism and scholarship and because of her race.”

In a June 21 letter, Ms. Hannah-Jones’s legal team informed the university that she would not join the faculty without tenure, adding that she had not withdrawn her application for tenure.

The letter, published on NC Policy Watch, a North Carolina news site, said Ms. Hannah-Jones had prepared her tenure application with an expectation that it would be voted on by the board at its meeting last November. The matter was not addressed at that meeting, nor at a meeting in January, the letter said, and the board offered no explanation on why tenure had been withheld.

The letter added that Ms. Hannah-Jones, after signing her fixed-term contract, had learned of “political interference and influence from a powerful donor,” which she believed had contributed to the failure of the board to vote on the matter.

The “powerful donor” was apparently Walter E. Hussman Jr., the Arkansas newspaper publisher after whom the journalism school is named. In emails to university leaders, Mr. Hussman, who has pledged $25 million to the school, had expressed concerns about certain aspects of the 1619 Project and Ms. Hannah-Jones’s hiring.

But in an interview with The Times in June, Mr. Hussman said that, despite his misgivings, he did not want to influence the board’s decision. He added that the outcome of the matter would not affect his donations to the university.

Article source: https://www.nytimes.com/2021/06/30/business/media/nikole-hannah-jones-unc-tenure.html

A Flight Attendant Drafted Her Novel on Cocktail Napkins. It Took Off.

“I did the starving artist route and had multiple survival jobs, and it was a lot of rejection and doors slammed in my face,” said Newman, who graduated from Illinois Wesleyan University with a degree in musical theater in 2006. While living in Sunnyside, Queens, she made ends meet by babysitting, working in restaurants and passing out fliers in Times Square.

Two years later, she was back in Phoenix, living in her parents’ house — a humbling end to a dream that took shape when she starred in a junior high school production of “Annie.”

Newman found solace in a job at Changing Hands, a bookstore in Tempe, Ariz., that she said helped her get back to her roots as a reader and a writer. “I’m always going to be a creative person,” she said. “I realized those impulses are never going away. If I’m writing and no one reads it except me, that’s a lot less scary than putting myself out there in New York in front of an entire table of casting directors who won’t even look up at me.”

“She was Torri to us then,” said Cindy Dach, the bookseller’s chief executive. “She had a passion for books and community and was a star on the floor. Some booksellers love books but they’re introverts. Torri is the best of both worlds because she can connect with people easily.” (T.J. stands for Torri Jan.)

In early 2011, Newman left to work for Virgin America. She held onto her Changing Hands staff badge and continued to help out during the holiday rush and at events at the Tempe and Phoenix locations, but she could no longer ignore the tug of wanderlust. “I grew up traveling on my mom’s passes,” Newman said. “Travel is just about my most favorite thing in the world to do, which is why I wanted a job that paid me to do it.”

There were challenges to her new role — entitled passengers, the beverage cart — but Newman believes her time in the air helped lay the groundwork for a writing career. “You become really good at reading people: Has this person had too much to drink? Is this person showing a proclivity for noncompliance?” she said. “We are in a metal tube traveling hundred of miles an hour, miles up in the sky. We’re always aware of the margin of error.”

Article source: https://www.nytimes.com/2021/06/30/books/tj-newman-falling.html

Google faces legal action in Russia over breaching personal data law

Google faces a fine of up to six million rubles ($82,060) if the regulator finds against it. Roskomnadzor also said that it’s currently awaiting a response from Facebook and Twitter, after these platforms were told to localize Russian user data by July 1, or face fines.

Also on rt.com Tax on Google? To fund country’s IT industry, Russia mulls new levy on foreign internet giants that use citizens’ data to sell ads

The measure comes as part of the country’s campaign to establish control over Big Tech activities. Technology and social media firms have recently run into heightened awareness from state authorities across the world.

Russia has been slowing down the work of Twitter for more than three months. The punitive measure came after the administration of the micro-blogging platform refused to delete illegal content at the request of the regulator.

Also on rt.com Hey, Zuck! Can you spare a buck? Facebook fails to pay $50 fine in Russia

The country’s government is currently considering new regulation forcing foreign technology firms to open offices in Russia, or face penalties such as advertising bans.

In 2016, Russia blocked the website of the world’s largest professional network LinkedIn for failing to comply with the country’s data privacy law. LinkedIn pledged to stay in Russia and discuss all conditions with the regulator, however, the website has remained blocked.

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

Article source: https://www.rt.com/business/527995-russia-google-fine-personal-data/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Russia’s agricultural growth will curb rising domestic food prices – Putin

“We are expecting the new vegetable harvest to have an impact on prices,” Putin said on Wednesday during the annual presidential direct-line event.

He said that Russian farmers produced over 19 million tons of potatoes in 2020, while the potato crop is expected to exceed 22 million tons this year.

Also on rt.com US demand for Russian caviar surges by 640%

Putin stated that increasing production of fruit and vegetables is a high-priority task for the country’s agricultural sector.

“We are not producing enough fruit and vegetables to meet domestic consumption,” he said.

At the same time, he pointed out that Russian farmers are producing “more than enough” meat and poultry, allowing for more exports. Russian agricultural exports reached a record high of $30 billion in 2020.

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

Article source: https://www.rt.com/business/527980-russias-agricultural-growth-reduce-prices/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Russia in final stage of negotiations with Egypt to build industrial park in Port Said

“In the near future, the sides will begin negotiations on the practical steps to create an industrial zone,” Gamea said, marking the end of a meeting of the Russian-Egyptian Intergovernmental Commission on Trade, Economic, Research and Technical Cooperation.

The minister added that launching of the industrial zone would open access for Russian products to many markets through localization of manufacturing sites for various economic sectors.

Also on rt.com Russia’s industrial zone in Egypt’s Suez Canal to be launched by end of 2020-early 2021

“The ambitious project is a huge step towards strengthening economic partnership,” she said, highlighting that the area of the zone is about 5.2 million square meters with investments expected to reach $7 billion.

According to Gamea, Russia and Egypt have enormous potential for investment cooperation in such sectors as construction and the modernization of railways, including the launch of a railway transport control center, supply and assembly of rail carriages, as well as shipbuilding, modernization of shipyards, production of oil tankers and floating workshops.

“The two nations are also cooperating in the sphere of oil field exploitation and in the banking sector,” the minister added.

The intergovernmental arrangement on the project was signed in 2018. Back then, the parties projected full implementation of the vast enterprise to be complete within 13 years.

Also on rt.com Suez Canal blockage proves relevance of alternative Russia-Iran-India trade route, Foreign Minister Lavrov says

Russian resident companies are expected to launch production lines as early as 2022. Russian firms may count on rent payment holidays, reduced tariffs for energy, special taxation schemes, as well as ready-made areas for work.

The start of construction works was planned for 2020, but was delayed due to the coronavirus pandemic.

Moscow will reportedly invest around $190 million in the development of basic infrastructure, while the entire volume of private investments is expected to reach $7 billion.

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

Article source: https://www.rt.com/business/527952-egypt-russia-industrial-zone/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

OPEC expects increase in global oil demand in 2021 amid world’s post-pandemic recovery

According to Barkind, the group and its allies expect the world’s demand for crude to increase by six million barrels per day, as global GDP is projected to grow by 5.5% in 2021 due to recoveries in such countries as China, the US, India along with the Eurozone.

“The projections for oil are largely unchanged from our last meeting, with demand expected to grow by six million b/d to around 96.5 million b/d on average for the year, an increase of 6.6%,” the website of the organization cites the official.

Also on rt.com OPEC+ may boost oil production to ease global supply deficit

“In fact, we anticipate that demand will surpass 99 million b/d in the fourth quarter, which would put us back in the range of pre-pandemic levels,” Barkind added.

The secretary also said that the agreement on capping production of crude clinched between OPEC members and allied leading oil producers last year, is one of the major factors for sustainable oil market stability.

As of 7:20 GMT, global oil prices were rising on Wednesday with Brent crude trading above $75 a barrel, and US crude benchmark WTI up 40 cents to $73.41 a barrel.

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

Article source: https://www.rt.com/business/527883-opec-increase-global-oil-demand/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Fed Unity Cracks as Inflation Rises and Officials Debate Future

The central bank’s 18 policy officials roundly say that the economy’s path is extremely hard to predict as it reopens from a once-in-a-century pandemic. But how they think about inflation after a string of strong recent price reports — and how they feel the Fed should react — varies.

Inflation has spiked because of statistical quirks, but also because consumer demand is outstripping supply as the economy reopens and families open their wallets for dinners out and long-delayed vacations. Bottlenecks that have held up computer chip production and home-building should eventually fade. Some prices that had previously shot up, like those for lumber, are already starting to moderate.

But if the reopening weirdness lasts long enough, it could cause businesses and consumers to anticipate higher inflation permanently, and act accordingly. Should that happen, or if workers begin to negotiate higher wages to cover the pop in living costs, faster price gains could stick around.

“A new risk is that inflation may surprise still further to the upside as the reopening process continues, beyond the level necessary to simply make up for past misses to the low side,” Mr. Bullard said in a presentation last week. The Fed aims for 2 percent inflation as an average goal over time, without specifying the time frame.

Other Fed officials have said today’s price pressures are likely to ease with time, but have not sounded confident that they will entirely disappear.

“These upward price pressures may ease as the bottlenecks are worked out, but it could take some time,” Michelle Bowman, one of the Fed’s Washington-based governors, said in a recent speech.

The Fed’s top leadership has offered a less alarmed take on the price trajectory. Mr. Powell and John C. Williams, president of the Federal Reserve Bank of New York, have said it is possible that prices could stay higher, but they have also said there’s little evidence so far to suggest that they will.

Article source: https://www.nytimes.com/2021/06/30/business/economy/inflation-federal-reserve.html

Supreme Court Rejects Request to Lift Federal Ban on Evictions

The challengers argued that the moratorium was not authorized by the law the agency relied on, the Public Health Service Act of 1944.

The 1944 law, the challengers wrote, was concerned with quarantines and inspections to stop the spread of disease and did not bestow on the agency “the unqualified power to take any measure imaginable to stop the spread of communicable disease — whether eviction moratoria, worship limits, nationwide lockdowns, school closures or vaccine mandates.”

The C.D.C. argued that the moratorium was authorized by the 1944 law. Evictions would accelerate the spread of the coronavirus, the agency said, by forcing people “to move, often into close quarters in new shared housing settings with friends or family, or congregate settings such as homeless shelters.”

The case was complicated by congressional action in December, when lawmakers briefly extended the C.D.C.’s moratorium through the end of January in an appropriations measure. When Congress took no further action, the agency again imposed moratoriums under the 1944 law.

In its Supreme Court brief, the government argued that it was significant that Congress had embraced the agency’s action, if only briefly.

Last month, Judge Dabney L. Friedrich of the Federal District Court in Washington ruled that the agency had exceeded its powers in issuing the moratorium.

“The question for the court,” she wrote, “is a narrow one: Does the Public Health Service Act grant the C.D.C. the legal authority to impose a nationwide eviction moratorium? It does not.”

Article source: https://www.nytimes.com/2021/06/29/us/politics/supreme-court-eviction-ban.html

Facebook Antitrust Cases Brought by FTC and States Are Thrown Out

The state suit was signed by attorneys general from 46 states and the District of Columbia and Guam. Alabama, Georgia, South Carolina and South Dakota did not join the case.

Facebook asked the court to dismiss both suits in March. The company argued that it was continually challenged with competition, including from new rivals such as TikTok. It also argued that the regulators had failed to prove how the services, which are free, harmed consumers. The judge’s dismissal of both suits, so early in process, stunned regulators and Facebook executives.

The judge, James E. Boasberg of U.S. District Court for the District of Columbia, wondered why the states had waited so long to try to unwind Facebook’s deals for Instagram and WhatsApp. Regulators had not tried to block them when they happened. He also rejected allegations that Facebook squashed rival apps by blocking their ability to easily interact with the social media platform.

“Ultimately, this antitrust action is premised on public, high-profile conduct, nearly all of which occurred over six years ago,” he wrote, “before the launch of the Apple Watch or Alexa or Periscope, when Kevin Durant still played for the Oklahoma City Thunder and when Ebola was the virus dominating headlines.”

Judge Boasberg, who was appointed to his current post by President Barack Obama, said the F.T.C. did not sufficiently prove that Facebook was a monopoly. He said the agency’s definition for social media was too vague, and in a reference to an interpretation of antitrust law prevalent in courts that is anchored in consumer prices, he noted that the product was free.

“It is almost as if the agency expects the court to simply nod to the conventional wisdom that Facebook is a monopolist,” he wrote. “After all, no one who hears the title of the 2010 film ‘The Social Network’ wonders which company it is about.”

But, he said, “‘monopoly power’ is a term of art under federal law with a precise economic meaning.”

Article source: https://www.nytimes.com/2021/06/28/technology/facebook-ftc-lawsuit.html

Markets Work, but Untangling Global Supply Chains Takes Time

Now, there are higher prices for base materials like steel and aluminum. There are suppliers being forced to raise wages sharply to keep assembly lines operating. There are semiconductor manufacturers stretched too thin to provide enough computer chips to make as many cars as consumers wish to buy. There have even been shortages of resin, needed in the plastics that are part of a car, caused by Texas winter storms this year. And adding to it all, there are logjams of shipping capacity for materials imported from overseas.

“It’s almost like a patient who’s fighting cancer and heart disease and diabetes all at the same time,” Mr. Burris said. The power that automakers usually hold to dissuade suppliers from increasing prices is breaking down, he said, amid the urgency to obtain supplies.

And as automakers throttle production, there have been unusual dynamics in the retail side of the market.

The inability of automakers to produce at full speed, combined with strong consumer demand, shows up in both obvious (prices are higher than usual) and less obvious ways, said Ivan Drury, senior manager for insights at Edmunds, a publisher of auto industry information. In the past, the “manufacturer’s suggested retail price” was generally a mere suggestion, with dealers negotiating actual sale prices $2,000 to $3,000 below that level for an average car. Now, new cars are typically selling at or only slightly below the suggested retail price, he said.

And dealers are resorting to other techniques that restrict sales. With inventories lean, buyers seeking a particularly in-demand car may need to commit to buying it before it has arrived on the lot, sight unseen. Some dealers, he said, will refuse to sell to people from outside the dealer’s area, to ensure that the buyer will generate continuing service revenue.

Things are even more wild in the used-car market, where the down-and-up last 16 months for the rental car industry, among other factors, has caused a severe shortage and steep price increases. Used cars and trucks were a major source of overall consumer price inflation in April and May.

Mr. Drury doesn’t expect that to change anytime soon. According to Edmunds data, the average trade-in value of a car was still rising through the first three weeks of June, up an additional 2.9 percent after increasing a combined 21 percent in April and May.

Article source: https://www.nytimes.com/2021/06/29/upshot/markets-work-but-untangling-global-supply-chains-takes-time.html