Obama most admired foreign leader in India: Poll

Washington, Apr 12: The US has overtaken Italy as the country with the highest number of deaths due to COVID-19 pandemic with the fatalities crossing 20,000, according to Johns Hopkins University data, as the novel coronavirus continues to wreak havoc across the globe.

The deadly coronavirus, that originated in China in December last year, has so far killed more than one lakh people across the globe. The United States on Saturday became the country with the highest number of deaths at 20,597, surpassing Italy's 19,468 fatalities.

More than 5.3 lakh Americans have tested positive for coronavirus, which is about the same for the next four countries put together: Spain (163,027), Italy (152,271), Germany (125,452) and France (93,790). In terms of fatalities, the US and Italy are followed by Spain (16,606), France (13832) and United Kingdom (9,875), the varsity data showed.

New York City, the financial capital of the world, has emerged as the epicenter of coronavirus in the world. A city of 8.3 million, which is one of the most densely populated cities in the US, by Saturday night had as many as 8,627 deaths and more than 180,000 people had tested positive for COVID-19.

President Donald Trump has declared a national emergency and all the 50 States have been notified with major disaster declaration. More than 95 per cent of the country's 330 million population are under stay-at-home order. Trump has deployed more than 50,000 personnel from the armed forces in fight against COVID-19.

After an initial two-week social mitigation measures, that includes social distancing, the measures have been extended till April 30. Initially, members of the White House Task Force on Coronavirus had projected between one and two lakhs deaths. Now, they have dropped the projection to 60,000 deaths, mainly due to the successful implementation of these measures.

"The people of our country have gone through a lot. But we did it the right way. And we look like we'll be coming in on the very, very low side, really below the lowest, the lowest side of the curve of death," Trump told Fox News on Saturday night.

Trump asserted that situation was improving in places like New York, where there is a drop in new patients. Responding to a question, he said he wanted the country to open up as soon as possible.

However, he has not taken a decision so far, even as some media reports said that he the President was looking for early May.

"I think it's going to be the toughest decision that I've ever made. I really, hopefully that I ever will have to make. But it's certainly the toughest decision that I've ever made. I hope that I'm going to make the right decision," Trump said, adding that he will be making a decision reasonably soon.

"We're setting up a council now of some of the most distinguished leaders in virtually every field including politics and business and medical. We'll be making that decision fairly soon," Trump said.

Meanwhile, The New York Times reported that its investigations have revealed that the president was warned about a potential pandemic but that internal divisions, lack of planning and his faith in his own instincts led to a halting response.

According to The Washington Post, coronavirus is killing about one in 10 hospitalised middle-aged patients and four in 10 older than 85 in the United States. It is particularly lethal to men even when taking into account common chronic diseases that exacerbate risk.

Globally, the novel coronavirus has killed 108,862 people and infected over 1.7 million people globally. The US has the highest number of infections at 529,887, according to Johns Hopkins University data.

Washington, Jul 7: The US House of Representatives Judiciary Committee will grill the CEOs of US tech giants Apple, Google, Facebook and Amazon during an antitrust hearing on July 27.

Apple's Tim Cook, Facebook's Mark Zuckerberg, Alphabet's Sundar Pichai and Amazon's Jeff Bezos will testify before the antitrust panel that is working on proposals to reform and regulate the digital market.

The hearing would mark the first time all four top executives testify together in front of Congress, virtually or in-person depending on the panel's call in the COVID-19 pandemic times.

"Since last June, the Subcommittee has been investigating the dominance of a small number of digital platforms and the adequacy of existing antitrust laws and enforcement," House Judiciary Committee Chairman Jerrold Nadler (D-NY) and Antitrust Subcommittee Chairman David Cicilline (D-RI) said in a statement on Monday.

"Given the central role these corporations play in the lives of the American people, it is critical that their CEOs are forthcoming. As we have said from the start, their testimony is essential for us to complete this investigation.”

The House Judiciary Committee announced its antitrust probe into the four tech giants in June last year.

Last month, the committee sent letters to technology giants Apple, Facebook, Amazon and Alphabet (Google's parent company), asking them to confirm if their chief executives will testify as part of the committee's tech competition investigation.

Committee chair David Cicilline said the documents that the investigators sought were "essential" to the probe and that requests like this were part of the "appropriate process" to obtain them.

"The only CEO who has expressed reservation about appearing, through a representative, has been Amazon," Cicilline said. "No one in this country is above the law ... nobody is above answering a congressional subpoena".

The lawmakers want the tech giants to furnish documents that have been produced in relation to other competition probes and internal communications.

The letters that the committee sent also posed questions related to possible harms to competition in the market.

In addition to the antitrust probe, Apple's App Store policies are also facing scrutiny from the US Department of Justice.

United Nations, Apr 2: The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic activities are extended without adequate fiscal responses.

The analysis by the UN Department of Economic and Social Affairs (DESA) said the COVID-19 pandemic is disrupting global supply chains and international trade. With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt.

"Millions of workers in these countries are facing the bleak prospect of losing their jobs. Governments are considering and rolling out large stimulus packages to avert a sharp downturn of their economies which could potentially plunge the global economy into a deep recession. In the worst-case scenario, the world economy could contract by 0.9 per cent in 2020," the DESA said, adding that the world economy had contracted by 1.7 per cent during the global financial crisis in 2009.

It added that the contraction could be even higher if governments fail to provide income support and help boost consumer spending.

The analysis noted that before the outbreak of the COVID-19, world output was expected to expand at a modest pace of 2.5 per cent in 2020, as reported in the World Economic Situation and Prospects 2020.

Taking into account rapidly changing economic conditions, the UN DESA's World Economic Forecasting Model has estimated best and worst-case scenarios for global growth in 2020.

In the best-case scenario with moderate declines in private consumption, investment and exports and offsetting increases in government spending in the G-7 countries and China global growth would fall to 1.2 per cent in 2020.

"In the worst-case scenario, the global output would contract by 0.9 per cent instead of growing by 2.5 per cent in 2020," it said, adding that the scenario is based on demand-side shocks of different magnitudes to China, Japan, South Korea, the US and the EU, as well as an oil price decline of 50 per cent against our baseline of USD 61 per barrel.

The severity of the economic impact will largely depend on two factors - the duration of restrictions on the movement of people and economic activities in major economies; and the actual size and efficacy of fiscal responses to the crisis.

A well-designed fiscal stimulus package, prioritising health spending to contain the spread of the virus and providing income support to households most affected by the pandemic would help to minimise the likelihood of a deep economic recession, it said.

According to the forecast, lockdowns in Europe and North America are hitting the service sector hard, particularly industries that involve physical interactions such as retail trade, leisure and hospitality, recreation and transportation services. Collectively, such industries account for more than a quarter of all jobs in these economies.

The DESA said as businesses lose revenue, unemployment is likely to increase sharply, transforming a supply-side shock to a wider demand-side shock for the economy.

Against this backdrop, the UN-DESA is joining a chorus of voices across the UN system calling for well-designed fiscal stimulus packages which prioritize health spending and support households most affected by the pandemic.

Urgent and bold policy measures are needed, not only to contain the pandemic and save lives, but also to protect the most vulnerable in our societies from economic ruin and to sustain economic growth and financial stability, Under-Secretary-General for Economic and Social Affairs Liu Zhenmin said.

The analysis also warns that the adverse effects of prolonged economic restrictions in developed economies will soon spill over to developing countries via trade and investment channels.

A sharp decline in consumer spending in the European Union and the United States will reduce imports of consumer goods from developing countries.

Developing countries, particularly those dependent on tourism and commodity exports, face heightened economic risks. Global manufacturing production could contract significantly, and the plummeting number of travellers is likely to hurt the tourism sector in small island developing States, which employs millions of low-skilled workers, it said.

Meanwhile, the decline in commodity-related revenues and a reversal of capital flows are increasing the likelihood of debt distress for many nations. Governments may be forced to curtail public expenditure at a time when they need to ramp up spending to contain the pandemic and support consumption and investment.

UN Chief Economist and Assistant Secretary-General for Economic Development Elliot Harris said the collective goal must be a resilient recovery which puts the planet back on a sustainable track. We must not lose sight how it is affecting the most vulnerable population and what that means for sustainable development, he said.

The alarms raised by UN-DESA echo another report, released on March 31, in which UN experts issued a broad appeal for a large-scale, coordinated, comprehensive multilateral response amounting to at least 10 per cent of global gross domestic product (GDP).

According to estimates by the Johns Hopkins University, confirmed coronavirus cases across the world now stand at over 932,600 and over 42,000 deaths.