Democrat Pelosi elected US House speaker for 2nd time

Agencies
January 4, 2019

Washington, Jan 4: Nancy Pelosi knew this moment would come, even if others had their doubts — or worked to stop her. Pelosi was elected Thursday as House speaker, the only woman who has held the office and now one of few elected officials who have returned to it.

The last time a speaker regained the gavel was more than a half-century ago.

The California Democrat has spent her political career being underestimated, only to prove the naysayers wrong. In this case, it was by winning back the Democratic majority and amassing the votes for the speaker's job.

"None of us is indispensable," Pelosi told The Associated Press while campaigning last fall, "but I do know that I'm very good at what I do."

In accepting the gavel, Pelosi gave nod to the new era of divided government with a pledge to "reach across the aisle in this chamber and across the divisions across our nation."

She said, "The floor of this House must be America's Town Hall: where the people will see our debates and where their voices will be heard and affect our decisions."

In outlining Democratic priorities, she talked about lowering health care costs, investing in green infrastructure and restoring "integrity to government." "We must be champions of the middle class and all those who aspire to it — because the middle class is the backbone of our democracy," she said.

Pelosi remains a highly polarizing figure, vilified by Republicans as a San Francisco liberal and a caricature of big government. But she is also a mother of five and a grandmother of nine who has shattered glass ceilings to become one of the most powerful politicians of the 21st century.

With President Donald Trump in the White House and Republicans still controlling the Senate, Pelosi's return to the speaker's office to lead a Democratic majority with its biggest freshmen class since Watergate shakes up the dynamic in Washington even beyond the new era of divided government.

Pelosi has faced pressure from some incoming Democrats who have been willing to talk about the possibility of impeachment proceedings against Trump. Pelosi has called impeachment a "divisive activity," and Democrats were cautious about mentioning the "I'' word during the 2018 midterms for fear it would backfire politically.

She took a measured approach to it in an interview airing Thursday on NBC's "Today" show.

"We shouldn't be impeaching for a political reason, and we shouldn't avoid impeachment for a political reason," she said, adding that she would wait for the findings of special counsel Robert Mueller's investigation into Russia meddling in the 2016 election.

Only the House can begin impeachment proceedings. And while Justice Department guidelines suggest a sitting president can't be indicted, Pelosi called that "an open discussion." "Everything indicates that a president can be indicted after he is no longer president," she said.

Trump himself has denied any wrongdoing.

Pelosi is one of the few congressional leaders who seem to understand Trump, both being children from famous families now primed for deal-making. Trump appreciates strong characters, and, in perhaps a sign of respect, she is one of the few congressional leaders in Washington he has not given a nickname — though he has made her a frequent target.

A core group of rank-and-file Democrats has hungered for new leadership, saying it's time for a new generation to take the helm. They tired of the Republican attack ads featuring Pelosi that are constantly run against them back home, and they worried she would be a drag on efforts to keep the majority in the next election. They enlisted some of the newcomers from the freshmen class to their ranks to try to stop her from regaining the gavel.

But one by one, Pelosi peeled away the skeptics, flipping "no" votes to the "yes" column, sometimes in a matter of days. Some were given lead positions on their legislative priorities, even a gavel of their own to chair special panels.

And Pelosi gave a little, too, promising, at 78, to serve no more than four years in leadership, making way for the next generation.

Pelosi won the speakership by a vote of 220 to Republican Kevin McCarthy's 192 votes.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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Agencies
July 28,2020

Sydney, Jul 28: Nearly 3 billion koalas, kangaroos and other native Australian animals were killed or displaced by bushfires in 2019 and 2020, a study by the World Wide Fund for Nature (WWF) said on Tuesday, triple the group's earlier estimates.

Some 143 million mammals, 2.46 billion reptiles, 180 million birds and 51 million frogs were impacted by the country's worst bushfires in decades, the WWF said.

When the fires were still blazing, the WWF estimated the number of affected animals at 1.25 billion. The fires destroyed more than 11 million hectares (37 million acres) across the Australian southeast, equal to about half the area of the United Kingdom.

"This ranks as one of the worst wildlife disasters in modern history," said WWF-Australia Chief Executive Officer Dermot O'Gorman in a statement.

The project leader Lily Van Eeden, from the University of Sydney, said the research was the first continent-wide analysis of animals impacted by the bushfires, and "other nations can build upon this research to improve understanding of bushfire impacts everywhere".

The total number included animals which were displaced because of destroyed habitats and now faced lack of food and shelter or the prospect of moving to habitat that was already occupied.

The main reason for raising the number of animal casualties was that researchers had now assessed the total affected area, rather than focusing on the most affected states, they said.

After years of drought made the Australian bush unusually dry, the country battled one of its worst bushfire seasons ever from September 2019 to March 2020, resulting in 34 human deaths and nearly 3,000 homes lost.

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News Network
February 22,2020

Feb 22: A 20-year-old Chinese woman from Wuhan, the epicentre of the coronavirus outbreak, travelled 400 miles(675 km) north to Anyang where she infected five relatives, without ever showing signs of infection, Chinese scientists reported on Friday, offering new evidence that the virus can be spread asymptomatically.

The case study, published in the Journal of the American Medical Association, offered clues about how the coronavirus is spreading, and suggested why it may be difficult to stop.

"Scientists have been asking if you can have this infection and not be ill? The answer is apparently, yes," said Dr. William Schaffner, an infectious disease expert at Vanderbilt University Medical Center, who was not involved in the study.

China has reported a total of 75,567 cases of the virus known as COVID-19 to the World Health Organization (WHO) including 2,239 deaths, and the virus has already spread to 26 countries and territories outside of mainland China.

Researchers have reported sporadic accounts of individuals without any symptoms spreading the virus. What's different in this study is that it offers a natural lab experiment of sorts, Schaffner said.

"You had this patient from Wuhan where the virus is, travelling to where the virus wasn't. She remained asymptomatic and infected a bunch of family members and you had a group of physicians who immediately seized on the moment and tested everyone."

According to the report by Dr Meiyun Wang of the People's Hospital of Zhengzhou University and colleagues, the woman travelled from Wuhan to Anyang on Jan. 10 and visited several relatives. When they started getting sick, doctors isolated the woman and tested her for coronavirus. Initially, the young woman tested negative for the virus, but a follow-up test was positive.

All five of her relatives developed COVID-19 pneumonia, but as of Feb. 11, the young woman still had not developed any symptoms, her chest CT remained normal and she had no fever, stomach or respiratory symptoms, such as cough or sore throat.

Scientists in the study said if the findings are replicated, "the prevention of COVID-19 infection could prove challenging."

Key questions now, Schaffner said, are how often does this kind of transmission occur and when during the asymptomatic period does a person test positive for the virus.

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