Obama invites Indra Nooyi for consultation on economy

November 14, 2012
indra
Washington, November 14: United States President Barack Obama has invited at least three Indian-Americans, including PepsiCo CEO Indra Nooyi, as part of his wider consultations with leaders from business, labour, civic community and Congress on the current economic crisis.

Neera Tandon, president of the Center for American Progress, an eminent U.S. think-tank based in Washington; and Deepak Bhargava from the Center for Community Change are the other Indian-Americans invited for consultations, said a White House official.


The President this week would meet leaders from the business, labour, progressive and civic communities, as well as congressional leadership, to have discussions on the best ways to move the economy forward and find a balanced approach to reduce deficit, he said.


“On Tuesday, Obama will attend a meeting with labour and progressive leaders….” Ms. Tandon and Mr. Bhargava have been invited to attend the White House meeting with Mr. Obama later on Tuesday.


Others attending the meeting are Kay Henry from the Service Employees International Union (SEIU); Lee Saunders from the American Federation of State, County and Municipal Employees (AFSCME); Dennis Van Roekel from the National Education Association (NEA); and Rich Trumka from the American Federation of Labour and Congress of Industrial Organisations (AFL-CIO).


Those invited for the meeting on Wednesday include Mark Bertolini (President, Chairman and CEO, Aetna); and Ursula Burns (Chairman and CEO, Xerox), Kenneth I.

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Agencies
January 21,2020

Fifty-six journalists were killed in 2019 and most of them died outside conflict zones, a United Nations spokesperson said.

The number dropped by nearly half from the year 2018, but perpetrators enjoyed almost total impunity, Xinhua news agency quoted Stephane Dujarric, spokesperson for UN Secretary-General Antonio Guterres, as saying on Monday citing Unesco figures.

The figure was published in the 'Unesco Observatory of Killed Journalists' on Monday.

In total, Unesco recorded 894 journalist killings in the decade from 2010 to 2019, an average of almost 90 per year. The number in 2019 was 99.

Journalists were murdered in all regions of the world, with Latin America and the Caribbean recording 22 killings, the highest number, followed by 15 in Asia-Pacific, and 10 in Arab States.

"The figures show that journalists not only suffer extreme risks when covering violent conflict, but that they are also targeted when reporting on local politics, corruption and crime - often in their hometowns," the Unesco said.

Almost two thirds (61 per cent) of the cases in 2019 occurred in countries not experiencing armed conflict, a notable spike in a wider trend in recent years, and a reversal of the situation of 2014, when this figure was one third.

More than 90 per cent of cases recorded in 2019 concerned local journalists, consistent with previous years, it added.

In response to these figures, Audrey Azoulay, the Director-General of Unesco, said: "Unesco remains deeply troubled by the hostility and violence directed at all too many journalists around the world.

"As long as this situation lasts, it will undermine democratic debate."

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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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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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