Profits up at Facebook; no impact from privacy scandal

Agencies
April 26, 2018

Washington, Apr 26: Facebook today reported a sharp jump in profits in the past quarter, with gains in its user base and strong ad growth as the social network appeared to see no impact from a controversy on privacy.

Profit in the first quarter of 2018 jumped 63 percent from a year ago to USD 5 billion, and total revenues increased 49 percent to USD 11.97 billion, Facebook said in an earnings update which topped most analyst forecasts.

Facebook chief executive Mark Zuckerberg, who has spent most of the past month on the fallout from the revelations on the hijacking of personal data by a political firm, sought to reassure investors in the latest update. "Despite facing important challenges, our community and business are off to a strong start in 2018," Zuckerberg said.

"We are taking a broader view of our responsibility and investing to make sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together." Facebook shares climbed more than 4.7 percent to USD 167.33 in after-hours trades that followed the release of the earnings figures.

The number of people using Facebook monthly climbed 13 percent from last year to 2.2 billion as of the end of March, despite concerns that users would abandon the network.

The earnings results "should give the bulls finally something to hang their hat on after the company (and its investors) have just gone through the darkest chapter in Facebook's history," GHB Insights analyst Daniel Ives said in a research note.

Facebook's strong earnings report comes as it grapples with a data privacy scandal that strikes at how the huge social network makes money from what it knows about people.

Zuckerberg two faced questioning in congressional panels about revelations that personal data was harvested on 87 million users by Cambridge Analytica, a consultancy working for Donald Trump's 2016 campaign. Whether the scandal is taking a toll on membership or advertising at the online social network was not likely to be revealed in earnings numbers from the first three months of this year, and the topic was expected to come up during a routine call with financial analysts.

Using information about people's lives to target advertising is a standard internet business model, and any effort to rein it in could ripple through the industry.

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Agencies
August 9,2020

New Delhi, Aug 9: Indian on Sunday achieved a grim milestone after recording the highest single-day spike of 64,399 coronavirus cases, according to the Union Ministry of Health and Family Welfare.

As many as 861 deaths were reported in the country in the last 24 hours, taking the cumulative toll to 43,379.

With the new cases, the country's coronavirus count has reached 21,53,011 including 6,28,747 active cases and 14,80,885 cured/discharged/migrated.

Maharashtra has 1,47,355 active coronavirus cases, the highest in the country.

According to the Indian Council of Medical Research (ICMR), 7,19,364 samples were tested on August 8 while over 2.41 crores samples so far have been tested in the country.

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News Network
July 2,2020

Los Angeles, Jul 2: New daily coronavirus cases in the United States soared past 50,000 for the first time Wednesday, as the World Health Organization delivered a grave warning that the global pandemic is accelerating.

Restaurants, bars and beaches in the world's worst-hit nation closed from California to Florida, as states reeling from yet another surge in the deadly virus braced for Independence Day festivities.

Global infections have hit their highest level in the past week, WHO data showed, with chief Tedros Adhanom Ghebreyesus saying new cases topped "160,000 on every single day."

The grim milestone came as the European Union left the United States, Brazil and Russia off its final list of nations safe enough to allow residents to enter its borders.

With more than 52,000 new COVID-19 cases in the United States alone in the past 24 hours, according to a Johns Hopkins University tally, several US states imposed 14-day quarantines on visitors in the buildup to the long weekend's July 4 celebrations.

California suspended indoor dining at restaurants in Los Angeles and several counties, while New York scrapped plans to allow restaurants to seat customers inside from next week.

President Donald Trump reiterated his belief that the contagion will "at some point... sort of just disappear, I hope."

But the US leader who has yet to be seen in public wearing a face mask during the pandemic added he would have "no problem" doing so.

EU travel ban eased

The rollbacks came as the European Union reopened its borders to visitors from 15 countries.

The bloc hopes relaxing restrictions on countries from Algeria to Uruguay will breathe life into its tourism sector, choked by a ban on non-essential travel since mid-March.

Travelers from China, where the virus first emerged late last year, will be allowed to enter the EU only if Beijing reciprocates.

And Brazil -- which has suffered the most deaths globally for the last week, and is the second-worst affected country overall -- was excluded entirely.

It topped 60,000 total fatalities Wednesday, after suffering 1,000 deaths in just 24 hours.

However, with over 10 million known infections worldwide and more than 500,000 deaths, the pandemic is "not even close to being over", the WHO warned.

Data provided by the UN health agency for the seven days from June 25-July 1 showed the highest number of new daily cases ever recorded came on June 28, when over 189,500 new cases were registered worldwide.

'Dutch brothels reopen'

According to the United Nations, the coronavirus crisis could cost global tourism and related sectors from $1.2 to $3.3 trillion in lost revenue.

Greece, which has suffered fewer than 200 virus deaths, has seen its economy hit hard by lockdowns and travel restrictions -- all but ending its lucrative tourism season before it began.

Romanian Cojan Dragos was "the first tourist" in one Corfu hotel after driving there with his wife and daughter.

"We have the whole hotel just for us," he told news agency.

Separately, Spain and Portugal held a ceremony as they reopened their land border.

The Netherlands also confirmed the reopening Wednesday of another tourist draw -- its brothels and red-light districts.

"I'm totally booked," said sex worker Foxxy, adding that she had held a "little party" when she heard restrictions would be lifted.

Clusters spur new lockdowns

Russia did not make the EU's list of approved countries so its citizens will be absent from the bloc's tourist hot-spots.

The country, however, enjoyed a public holiday Wednesday as it voted in a referendum to approve constitutional changes allowing President Vladimir Putin to stay in power for another 16 years.

Putin was forced to postpone the vote in April as his government tackled an outbreak that has infected almost 650,000 people -- the third-highest in the world.

In other countries, clusters are still causing problems.

Parts of the Australian city of Melbourne suffered sharp rises in infections, spurring new stay-at-home measures.

The Palestinian Authority announced a five-day lockdown across the West Bank after a surge in confirmed cases.

And textile factories in the central British city of Leicester were suggested as the reason for a spike in infections that has prompted the reimposition of local restrictions.

Americas spike

In the United States, spikes across southern and western states are driving a surge in national infections.

Texas, which again smashed its daily COVID-19 record with over 8,000 new cases, joined Florida and California in closing some beaches for the upcoming holiday weekend.

Apple announced it would close another 30 US stores on Thursday, half of them in California.

A further 700 deaths nationwide took the US past 128,000 deaths in total.

The Pan American Health Organization warned that the death count in Latin America and the Caribbean could quadruple to more than 400,000 by October without stricter public health measures.

The US government announced this week it had bought 92 percent of all remdesivir production -- the first drug to be shown to be relatively effective in treating COVID-19.

Britain and Germany, however, said Wednesday they had sufficient stocks of the drug.

'Corona baby'

In Britain, some 1,500 acts from Ed Sheeran and Coldplay to Paul McCartney and The Rolling Stones urged the county's government to save the live music industry, which has been collapsing because of the coronavirus.

But while lockdown measures have been a disaster for many, some have welcomed the chance to spend more quality time with hard-working partners.

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News Network
June 25,2020

Ottawa, Jun 25: Prime Minister Justin Trudeau took his son out for ice cream on Wednesday in his first family outing since Canada started easing out of its pandemic lockdown.

It was also Saint-Jean-Baptiste Day in Quebec province.

Wearing masks, the Canadian leader and his six-year-old son Hadrien were cheered at Chocolats Favoris in Gatineau, Quebec.

According to a pool report, Trudeau said the shop tapped into a federal emergency wage subsidy and business loan in order to weather the pandemic, and "avoid being frozen out of the frozen treat market."

Hadrien is said to have bounced with excitement, settling on a vanilla cone with a cookie topping while dad bought a vanilla cone dipped in chocolate for himself.

Father and son then headed out to the patio, where they doffed their masks to eat their cones.

Canada's provinces and territories declared states of emergency mid-March, closing schools and non-essential businesses in response to the pandemic.

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