India a high-tariff nation, says Trump

The Cambridge Analytica scandal is far from over. New explosive details leaked by a whistleblower shows that the extent of the rot is far deeper than previously thought.

An anonymous Twitter account, @HindsightFiles, has started releasing the documents, apparently on behalf of Brittany Kaiser, a former employee of the now defunct British data analytics and consulting company Cambridge Analytica.

"Democracies around the world are being auctioned to the highest bidder. We release the documents that explain how," reads the biography of the @HindsightFiles.

The document will reveal previously unreleased emails, project plans, case studies, negotiations and more spanning over 60 countries.

"Over the past two years I have given evidence to investigators, journalists and academics to analyse what happened at Cambridge Analytica, and how our data was used to influence democracies around the world. In the name of shedding light on these dark practices, I am releasing documents and emails in full for the public good," Kaiser, who worked with Cambridge Analytica from 2014 to 208, was quoted as saying.

"I do this to strengthen the case for data rights and enforcement of our electoral laws online globally. We should all be seeking more ethical digital future for ourselves and our children," added Kaiser who starred in the Oscar-shortlisted Netflix documentary "The Great Hack".

The details released so far includes links to material on the firm's activities in Malaysia, Kenya, Brazil and Iran, an addition to the John Bolton archive.

Over the next months, more than 100,000 documents relating to work in 68 countries are set to be released, according to a report in The Guardian.

More than one and a half year after the Cambridge Analytica scandal first became public, US regulators last month said that the now-defunct British data analytics and consulting company engaged in deceptive practices to harvest personal information from tens of millions of Facebook users for voter profiling and targeting.

According to Kaiser, the Facebook data scandal was part of a much bigger global operation designed to manipulate people in collaboration with governments, intelligence agencies, commercial companies and political campaigns.

The unpublished documents contain material that suggests the firm collaborated with a political party in Ukraine in 2017 even while under investigation as part of Robert Mueller's investigation into Russian interference in the 2016 US presidential election, said The Guardian report.

"There are emails between these major Trump donors discussing ways of obscuring the source of their donations through a series of different financial vehicles. These documents expose the entire dark money machinery behind US politics," Kaiser was quoted as saying.

Similar tactics were deployed in other countries that Cambridge Analytica operated in, including Britain, she claimed.

The files released by Kaiser suggest that Cambridge Analytica offered to help United Malays National Organisation (Umno), the party of Malaysia's Former Prime Minister Najib Razak, to influence the voting of 40 parliamentary constituencies in the 14th General Election (GE14) in 2013.

Umno, according to the leaks, requested the company to prepare a proposal to regain 13 seats, The South China Morning Post reported on Saturday.

In 2018, Razak claimed that he had never engaged Cambridge Analytica in any way.

May 28: Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming.

One of the nation's biggest manufacturers will lay off 6,770 U.S. employees this week, and another 5,520 workers are taking buyout offers to leave voluntarily in the coming wee

Air travel within the U.S. tumbled 96% by mid-April, to fewer than 100,000 people on some days. It has recovered slightly. The Transportation Security Administration said it screened 264,843 people at airports on Tuesday, a drop of 89% compared with the same Tuesday a year ago.

Boeing had said it would cut 10% of a work force that numbered about 160,000. A Boeing spokesperson said Wednesday's actions represent the largest number of job cuts, but several thousand additional jobs will be eliminated in the next few months.

The layoffs are expected to be concentrated in the Seattle area, home to Boeing's commercial-airplanes business. The defense and space division is stable and will help blunt the impact of the decline in air travel and demand for passenger jets, the company said.

Boeing said additional job cuts will be made in international locations, but it did not specify numbers.

"The COVID-19 pandemic's devastating impact on the airline industry means a deep cut in the number of commercial jets and services our customers will need over the next few years, which in turn means fewer jobs on our lines and in our offices," CEO David Calhoun said Wednesday in a memo to employees.

Calhoun said the company faces the challenges of keeping employees safe and working with suppliers and airlines "to assure the traveling public that it can fly safe from infection."

Calhoun warned that Boeing will have to adjust business plans constantly because the pandemic makes it hard to predict the impact on the company's business.

Boeing's crisis began with two crashes of its 737 Max, which led regulators around the world to ground the jetliner last year. The company's problems have deepened with the coronavirus, which has cut global air traffic by up to 90% and caused airlines to postpone or cancel orders and deliveries for new planes.

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31.