America's greatness challenged by China and Russia: Donald Trump

Agencies
December 19, 2017

Washington, Dec 19: Notwithstanding competition from China and Russia and challenged by non-state actors and rogue nations like North Korea, US President Donald Trump has asserted that America will lead again.

Laying out his new national security strategy yesterday, Trump said both China and Russia seek to "challenge the American values, influence and wealth".

"They are determined to make economies less free and less fair, to grow their militaries, and to control information and data to repress their societies and expand their influence," he said.

"America will lead again", Trump said as he sent the 68- page National Security Strategy (NSS) document to the US Congress.

"We do not seek to impose our way of life on anyone, but we will champion the values without apology. We want strong alliances and partnerships based on cooperation and reciprocity," he added.

"We will make new partnerships with those who share our goals, and make common interests into a common cause. We will not allow inflexible ideology to become an obsolete and obstacle to peace," he said.

The US will pursue the vision it has carried around the world over this past year -- a vision of strong, sovereign, and independent nations that respect their citizens and respect their neighbours; nations that thrive in commerce and cooperation, rooted in their histories and branching out toward their destinies.

"With the strategy, we are declaring that America is in the game and America is going to win," he said.

And for this, he came out with a four-point action plan.

For the first time ever, American strategy now includes a serious plan to defend the homeland, he said, adding that it calls for the construction of a wall on southern border; ending chain migration and the horrible visa and lottery programmes; closing loopholes that undermine enforcement.

In addition, the strategy calls for the US to confront, discredit, and defeat radical Islamic terrorism and ideology and to prevent it from spreading into the US.

"And we will develop new ways to counter those who use new domains, such as cyber and social media, to attack our nation or threaten our society," he said.

The second pillar of US strategy is to promote American prosperity.

"For the first time, American strategy recognises that economic security is national security. Economic vitality, growth, and prosperity at home are absolutely necessary for American power and influence abroad. Any nation that trades away its prosperity for security will end up losing both," Trump said.

The strategy calls for cutting taxes and rolling back unnecessary regulations.

Describing his third pillar as preserving peace through strength, he recognised that weakness is the surest path to conflict, and unrivalled power is the most certain means of defence.

"For this reason, our strategy breaks from the damaging defence sequester. We're going to get rid of that," he said, and called for a total modernisation of our military, and reversing previous decisions to shrink armed forces.

It calls for streamlining acquisition, eliminating bloated bureaucracy, and massively building up our military, which has the fundamental side benefit of creating millions and millions of jobs.

This strategy includes plans to counter modern threats, such as cyber and electromagnetic attacks.

It recognises space as a competitive domain and calls for multi-layered missile defence.

"This strategy outlines important steps to address new forms of conflict such as economic and political aggression," Trump said.

And finally the strategy is to advance American influence in the world, but this begins with building up wealth and power at home.

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News Network
January 10,2020

New Delhi, Jan 10: An IPS officer's thumb was bitten by a woman protester when he was pushing back agitators, who were trying to march towards the Rashtrapati Bhawan here on Thursday, police sources said.

The protesters had gathered after a call was given by JNU Students' Union president Aishe Ghosh to march towards President's House to demand the removal of University's Vice Chancellor, M Jagadesh Kumar.

Ingit Pratap Singh, a 2011 batch officer, who is currently posted as the additional deputy commissioner of the southwest district, was injured in the attack.

According to sources, Singh was trying to pull a male protester when the woman, in a bid to shield her friend, bit Singh's left thumb.

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coastaldigest.com news network
May 6,2020

Mangaluru, May 6: Three more coronavirus positive cases have been reported in Dakshina Kannada district. 

According to fresh bulletin of health and family welfare department, an 11-year-old girl and a 36-year-old woman from Boloor in Mangaluru and a 16-year-old girl from Bantwal tested positive for the covid-19. 

All of them are undergoing treatment at Wenlock Hospital. Their condition is said to be stable. 

With this the total number of cases in the district reached 28 including 22 residents of Dakshina Kannada, 4 from Kasaragod, 1 from Udupi and 1 from Uttara Kannada.

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News Network
May 6,2020

Washington, May 6: At a time when the coronavirus pandemic has squeezed them, multi-national companies in America are laying off workers while paying cash dividends to their shareholders. Thus making the workers bear the brunt of the sacrifices while the shareholders continue to collect.

The Washington Post said in one of its reports that five big American companies have paid a combined USD 700 million to shareholders while cutting jobs, closing plants and leaving thousands of their workers filing for unemployment benefits.

Since the pandemic was declared an emergency, Caterpillar has suspended operations at two plants and a foundry, Levi Strauss has closed stores, and toolmaker Stanley Black & Decker has been planning layoffs and furloughs.

Steelcase, an office furniture manufacturer, and World Wrestling Entertainment have also shed employees.

Executives of those companies told the Post that the layoffs support the long-term health of their companies, and often the executives are giving up a piece of their salaries. Furloughed workers can apply for unemployment benefits.

But distributing millions of dollars to shareholders while leaving many workers without a paycheck is unfair, critics argue, and belies the repeated statements from executives about their concern for employees' welfare during the coronavirus crisis.

Caterpillar, for example, announced a USD 500 million distribution to shareholders April 8, about two weeks after indicating that operations at some plants would stop. The company however declined to divulge how many workers are affected.

"We are taking a variety of actions globally, but we aren't going to discuss the number of impacted people," spokeswoman of the company, Kate Kenny, said in a reply to an email by the Post.

This spate of dividends is also likely to revive long-standing debates about economic rewards.

"There are no hard-and-fast rules about this," said Amy Borrus, deputy director of the Council of Institutional Investors, a group that argues for shareholder rights and represents pension funds and other long-term investors.

Many large US companies choose to issue a regular, quarterly dividend to shareholders, often increasing it, and they boast about these payments because they help keep the share price higher than it might otherwise be. Those companies might be reluctant to announce that they are cutting or suspending their dividend during a crisis, Borrus was further quoted as saying.

But "companies have to be mindful of the optics of paying dividends if they're laying off thousands of workers," she added.

On March 26, Caterpillar had announced that because of the pandemic, it was "temporarily suspending operations at certain facilities." Two plants, in East Peoria, Ill., and Lafayette, Ind., were coming to a halt, as well as a foundry in Mapleton, Ill., according to news reports.

"We are taking a variety of actions at our global facilities to reduce production due to weaker customer demand, potential supply constraints and the spread of the covid-19 pandemic and related government actions," Kenny said via email.

"These actions include temporary facility shutdowns, indefinite or temporary layoffs," she added.

Similarly, Levi Strauss announced April 7 that the company would stop paying store workers, and about 4,000 are now on furlough. On the same day, the company announced that it was returning USD 32 million to shareholders.

"As this human and economic tragedy unfolds globally over the coming months, we are taking swift and decisive action that will ensure we remain a winner in our industry," Chip Bergh, president and chief executive of the company, also told the Post.

Stanley Black & Decker announced on April 2 that it was planning furloughs and layoffs because of the pandemic. Two weeks later, it issued a dividend to shareholders of about USD 106 million.

The notion that a company's primary purpose is to serve shareholders gained prominence in the 1980s but has come under attack in recent years, even from business executives, the newspaper reported.

Corporate decisions to suspend dividends and buybacks are complex, however, and it is difficult to know whether these suspensions of dividend and buyback programs were motivated by a desire to conserve cash in anticipation of bad times, and how much they are prompted by a sense of obligation to employees.

Over recent decades, the mandate to "maximize shareholder value" has become orthodoxy, for many, and it is often unclear what motivates companies to pare dividends or buybacks for shareholders, said William Lazonick, an emeritus economics professor at the University of Massachusetts at Lowell, who has been one of the leading critics of companies that distribute cash to shareholders through stock buybacks and dividends rather than reinvesting the profits into employees, innovation and production.

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