Long-lasting global recession likely as corona devastates lives, livelihoods

News Network
May 19, 2020

May 18: Risk managers expect a prolonged global recession as a result of the coronavirus pandemic, a report by the World Economic Forum showed on Tuesday.

Two-thirds of the 347 respondents to the survey - carried out in response to the outbreak - put a lengthy contraction in the global economy top of their list of concerns for the next 18 months.

Half of risk managers expected bankruptcies and industry consolidation, the failure of industries to recover and high levels of unemployment, particularly among the young.

“The crisis has devastated lives and livelihoods. It has triggered an economic crisis with far-reaching implications and revealed the inadequacies of the past," said Saadia Zahidi, managing director of the World Economic Forum.

Environmental goals risk being discarded as a result of the pandemic, the report said, but governments should try to carve out a "green recovery".

"We now have a unique opportunity to use this crisis to do things differently and build back better economies that are more sustainable, resilient and inclusive," Zahidi said.

The report was compiled by the World Economic Forum’s Global Risks Advisory Board together with Marsh & McLennan Companies Inc and Zurich Insurance Group.

Risk managers were surveyed between April 1 and 13.

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News Network
January 8,2020

Sydney, Jan 8:  Authorities in Australia will begin five-day campaign to kill thousands of camels in the country as they drink too much water amid the wildfires.  The government will send helicopters to kill up to 10,000 camels in a five-day campaign starting Wednesday, The Hill reported citing The Australian.

Marita Baker, an Anangu Pitjantjatjara Yankunytjatjara (APY) (large, sparsely-populated local government area for Aboriginal Australians) executive board member, said that the camels were causing problems in her community of Kanypi.

"We have been stuck in stinking hot and uncomfortable conditions, feeling unwell, because the camels are coming in and knocking down fences, getting in around the houses and trying to get to water through air conditioners,'' she said.

The planned killing of the camels comes at a time the country is ravaged by wildfires since November. The disaster has killed more than a dozen people and caused the displacement or deaths of 480 million animals, according to University of Sydney researchers.

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Agencies
March 8,2020

Panic gripped big tech firms like Facebook and Twitter which decided to close their offices from Seattle to London as more employees tested positive for the new coronavirus.

Facebook shut its three London offices till Monday after an employee was diagnosed with COVID-19.

The social networking giant told nearly 3,000 employees in London to work from home after an employee, who is based in Singapore but visited the London offices between February 24-26, was diagnosed with the new coronavirus, Sky News reported on Friday.

"An employee based in our Singapore office who has been diagnosed with COVID-19 visited our London offices on February 24-26.

"We are therefore closing our London offices until Monday for deep cleaning and employees are working from home until then," the company said in a statement.

There have been 163 cases of coronavirus so far in the UK.

Earlier, Facebook recommended all its Bay Area employees in the US to work from home. The latest precautions come after San Francisco announced its first two coronavirus cases on Thursday.

Facebook has also shut its Seattle office until Monday after one of its contractors was confirmed to be infected with the virus. The infected contractor last visited the Facebook office on February 21. King County health officials said all Facebook sites should work from home until March 31.

Twitter shut its Seattle office for a 'deep clean' after an employee developed COVID-19 like symptoms though final result was still awaited.

"A Seattle-based employee has been advised by doctor about likely COVID-19, though still awaiting the final testing," Twitter said in a tweet on Friday.

"While the employee has not been at a Twitter office for several weeks and hasn't been in contact w/others, we're closing our Seattle office to deep clean," the company added.

According to The Seattle Times, at least 14 people have died due to COVID-19 in Washington State till date.

Amazon, Microsoft, Google and Facebook have advised their employees in Washington State to work from home.

Apple has reportedly suggested its employees at California campuses to work from home as an "extra precaution" while new coronavirus cases spread on the west coast in the US, especially Seattle area.

Apple's flagship developers' conference WWDC 2020 in June is also at the risk of getting cancelled as the Santa Clara public health department has warned against large public gatherings. The event draws nearly 5,000 developers from across the world.

The US death toll from the new coronavirus has climbed to 14, according to Johns Hopkins' tracker, with 329 cases reported across the country.

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Agencies
June 4,2020

Washington D.C, Jun 4: A lawsuit has been filed against US President Donald Trump for signing an executive order on preventing online censorship that seems to violate the freedom of speech of individuals on social media platforms.

On Tuesday, the Center for Democracy and Technology filed the lawsuit against Trump's "Executive Order on Preventing Online Censorship," which was signed May 28, 2020. The suit argues that the Executive Order violates the First Amendment by curtailing and chilling the constitutionally protected speech of online platforms and individuals.

"CDT filed suit today because the President's actions are a direct attack on the freedom of speech protected by the First Amendment. The government cannot and should not force online intermediaries into moderating speech according to the President's whims. Blocking this order is crucial for protecting freedom of speech and continuing important work to ensure the integrity of the 2020 election," said CDT President and CEO Alexandra Givens.

The executive order is designed to deter social media services from fighting misinformation, voter suppression, and the stoking of violence on their platforms, the digital rights group said.

"Access to accurate information about the voting process and the security of our elections infrastructure is the lifeblood of our democracy. The President has made clear that his goal is to use threats of retaliation and future regulation to intimidate intermediaries into changing how they moderate content, essentially ensuring that the dangers of voter suppression and disinformation will grow unchecked in an election year," Givens said.

The law firm of Mayer Brown is representing CDT in this action.

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