Wednesday, March 12

Types of News: Brief

News briefs are shorter stories about current events. It’s the who-what-when-and-where. “Just the facts, ma’am.” Please see our writers guidelines.

In A Sign Of Global Disintegration, Microsoft Closing LinkedIn In China
14Oct By Patti MohrNo Comments
Big Tech, Digital Economy, Communism, Dictatorship, Globalization, Global Disintegration, Types of News: Brief

In A Sign Of Global Disintegration, Microsoft Closing LinkedIn In China

Decision Ends The Era Of Western-Owned Social Media In China File photo from LinkedIn in China October 14, 2021—In a sign that the global world is becoming more divided, Microsoft's LinkedIn is closing its operations in China. The company is planning to replace its LinkedIn in China with a China-centric application called InJobs. The goal of that standalone app is to help "China-based professionals find jobs in China and Chinese companies find quality candidates." Notably, it will not include a social media feed and will not allow users to share posts or articles. Mohak Shroff, LinkedIn's senior vice president of engineering announced the decision today in a blog post. "While we’ve found success in helping Chinese members find jobs and economic opportunity, we have not foun...
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Facebook And Big Tech Face ‘Big Tobacco Moment,’ Senator Says
5Oct By Patti MohrNo Comments
Big Tech, Digital Economy, Types of News: Brief

Facebook And Big Tech Face ‘Big Tobacco Moment,’ Senator Says

Senate Subcommittee on Consumer Protection, Product Safety, and Data Security on October 5, 2021 October 5, 2021—In a bipartisan hearing investigating practices at Facebook and its platforms, senators promised to take on what they said is the "immense power" of big tech. If big tech won't act to protect consumers and children, "Congress has to intervene," said Sen. Richard Blumenthal, D-Connecticut, the subcommittee chair. He added that Facebook "dodged, sidetrack, and in effect misled" the subcommittee in August when the senators and staff engage the company in their investigation. It's reached a point, Blumenthal said, that "Facebook and big tech are facing a big-tobacco moment." "Big tech has gotten away with abusing consumers for too long," said Sen. Marsha Blackburn, R-Tennes...
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Facebook’s Server Goes Down As Firm Faces Congressional Heat, Widespread Criticism
4Oct By Srinidhi RajagopalNo Comments
Big Tech, Digital Economy, Types of News: Brief

Facebook’s Server Goes Down As Firm Faces Congressional Heat, Widespread Criticism

Facebook Whistleblower Reveals Identity, Testifies on TuesdayOctober 4, 2021—Francis Haugen, a former Facebook employee who gave a series of interviews and internal documents to the Wall Street Journal about the company's practices, is seeking whistleblower protection from the Securities and Exchange Commission, the paper reported on Sunday. As the company faces perhaps its highest level of criticism yet since the disclosures released around the 2016 U.S. election, Facebook suffered a worldwide outage on Monday along with its Instagram and WhatsApp platforms. As of Monday afternoon, it was not clear what caused the massive outage. Facebook Exposed Haugen exposed explosive information about the social media giant. Her interviews on WSJ and CBS News revealed shocking details a...
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El Salvador’s Volcano-Powered Bitcoin Goes On Display
29Sep By Patti MohrNo Comments
Cryptocurrency, Types of News: Brief

El Salvador’s Volcano-Powered Bitcoin Goes On Display

September 29, 2021—Just a few weeks into its experience of using Bitcoin as its national currency, El Salvador, under the leadership of its entrepreneurial leader, is employing the use of its volcano to mine the cryptocurrency. President Nayib Bukele released a video today showing a state-owned geothermal facility on the side of El Salvador's volcano with Bitcoin mining machines. He introduced it on Twitter, saying "First steps." https://youtu.be/Y-S-oa3Rp8I The state-owned facility, LaGeo, is a subsidiary of the Comisión Ejecutiva Hidroeléctrica del Río Lempa. Bitcoin mining involves solving complex math problems with blockchain technology through high-powered computers. A study by the University of Cambridge suggests that Bitcoin mining consumes 121.36 terawatt hours ...
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‘Debt Doesn’t Matter,’ Treasury Secretary Yellen Tells Senate Committee
28Sep By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Finance, Investing, Global Economics, Types of News: Brief, United States

‘Debt Doesn’t Matter,’ Treasury Secretary Yellen Tells Senate Committee

September 28, 2021—It's been 20 years since Vice President Dick Cheney asserted to the world and the U.S. Congress that "deficits don't matter." Today, Treasury Secretary Janet Yellen asserted a similar sentiment when asked about the overall size of the debt. In an exchange with Sen. Mike Rounds, R-SD, Yellen said it is the interest cost of the debt, which is virtually zero, is all that matters. "When do we have to say, 'Enough is enough' when it comes to our deficit and our debt?" Rounds asked. Yellen responded that "there are different metrics" for looking at the level of debt. One is the debt-to-GDP ratio. "We are a little bit over 100 percent," she added, "which has traditionally been regarded as high." But rather than use that metric to examine the debt level, Yellen s...
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Fed Official Warns About Global Impact of U.S. Not Raising Debt Limit
27Sep By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

Fed Official Warns About Global Impact of U.S. Not Raising Debt Limit

September 27, 2021--As the U.S. Senate got ready to vote on a resolution to fund the government and raise the breeched debt limit, officials from the Federal Reserve warned about dire consequences that could take place if the Treasury runs out of cash. John Williams, president of the Federal Reserve Bank of New York, warned about an "extreme kind of reaction in the markets" if the U.S. Congress would raise the current debt limit. The limit of $22 trillion is well below the current debt of $28 trillion, the GER reported in July. He said the U.S. Treasury market is at the center of the global financial system. If it stops functioning due to running out of cash, the global economy will feel it. "If you actually crossed that line and got to a place where the government wasn't paying off ...
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The World Is ‘Off Track’ On Climate Action
27Sep By Guest WriterNo Comments
Climate Action, ESG, Sustainable Finance, Diplomacy, Types of News: Brief, UN Security Council

The World Is ‘Off Track’ On Climate Action

Leaders Pledge Action And Finance For Climate Initiatives At UN General Assembly Matthew Lauster is a freelance writer living in Washington, D.C. Matthew graduated from the College at Brockport State University of New York with a BA's of Science in Journalism and Broadcasting and a Minor in History. He has previously reported on climate change for George Washington University's Planet Forward. September 27, 2021—As the world’s leaders convene in New York this month for the 76th United Nations General Assembly, they are discussing national and multilateral efforts to address the many challenges the world faces. At the top of many of their lists is climate change, and its drastic impacts around the world. "Without deep and rapid decarbonization of our energy systems over the nex...
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Taliban Seeks UN Recognition, Says It Has Its Own Income Sources
24Sep By Srinidhi RajagopalNo Comments
Diplomacy, Foreign Aid, International Development, Types of News: Brief

Taliban Seeks UN Recognition, Says It Has Its Own Income Sources

At The Same Time, The Taliban Rejects 'Interference' And Rights Of Women And Girls September 24, 2021—Just as the world is coming to terms with a complete takeover of the Taliban in Afghanistan, the organization has written a request to join the talks at the ongoing United Nations General Assembly. Challenges Expected The unexpected request, which was addressed to the U.N. Secretary-General, is an example of the political challenges the Taliban now face.  According to reporting by the Associated Press, the U.N. committee that generally meets in November will issue a ruling “in due course.” The bigger issue is how to gain legitimacy after forcefully taking over the country in the vacuum of power left by U.S. and NATO forces. It's true the former Afghan government and mil...
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India Raises Concerns About Rising Regional Extremism
17Sep By Srinidhi RajagopalNo Comments
Diplomacy, Geopolitics, Types of News: Brief

India Raises Concerns About Rising Regional Extremism

September 17, 2021—Meeting with regional leaders in Tajikistan today, India Prime Minister Narendra Modi expressed concern that the Taliban's takeover of Afghanistan could exacerbate extremism in the area. "I believe the biggest challenges in this area are related to peace, security and a trust deficit," Modi said. "The root cause of these problems is the increasing radicalization. Afghanistan has made this challenge more clear." Taliban Influence Abroad Diplomatic leaders in India's capital New Delhi are apprehensive about the growing influence of the Taliban in Afghanistan and the progress of peace talks between the two countries. The biggest challenges India faces as a result of the Taliban takeover in Kabul, seem to be peace, security and trust deficit. The Indian Exter...
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U.S. Treasury Secretary Warns — Again — About Breach Of Debt Limit
9Sep By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief, United States

U.S. Treasury Secretary Warns — Again — About Breach Of Debt Limit

Photo by Alexander Schimmeck, courtesy Unsplash U.S. Government Likely to Run Out Of Cash By October Without Act of Congress September 9, 2021--U.S. Treasury Secretary Janet Yellen wrote another letter to leaders of Congress yesterday, pleading for lawmakers to authorize a higher level of government spending than the $28.7 trillion currently owed. Having breached the last debt limit long ago, Treasury is relying on extraordinary measures, such as suspension of making payments to certain disability and benefits funds and thrift savings plans, to pay its bills. Like Yellen's last letter in July, the Sept. 8 letter does not mention the amount of the current U.S. debt. Neither does it mention that the U.S. government surpassed the last debt limit of $22 trillion long ago. Congre...
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