US ‘still digging out of an economic collapse,’ but on ‘right track’: Biden reacts to weak jobs report

US ‘still digging out of an economic collapse,’ but on ‘right track’: Biden reacts to weak jobs report

President Biden on Friday said the country is “still digging out of an economic collapse” amid the coronavirus pandemic, but that the U.S. is on the “right track,” as the administration reported that the economy created just 266,000 jobs in April, and saw rising unemployment. Biden, speaking from the White House, said he took office during a “once-in-a-century pandemic and a once-in-a-generation economic crisis.” He continued, “We knew this wouldn’t be a sprint—it would be a marathon.” The April jobs report released Friday showed the U.S. economy heavily missed Wall…

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US passes emergency legislation after fuel pipeline cyber-attack

US passes emergency legislation after fuel pipeline cyber-attack

The US government issued emergency legislation on Sunday after the largest fuel pipeline in the US was hit by a ransomware cyber-attack. The Colonial Pipeline carries 2.5 million barrels a day – 45% of the East Coast’s supply of diesel, gasoline and jet fuel. It was completely knocked offline by a cyber-criminal gang on Friday and is still working to restore service. The emergency status enables fuel to be transported by road. A total of 18 states have been granted a temporary hours of service waiver for transporting gasoline, diesel,…

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Biden to support waiver of intellectual property rights of Covid-19 vaccines

Biden to support waiver of intellectual property rights of Covid-19 vaccines

President Joe Biden on Wednesday backed the U.S. entering negotiations at the World Trade Organization for the waiver of intellectual property rights as a means to boost vaccine supplies by allowing poorer countries to make their own. It won’t speed the manufacture of vaccines. It enraged the developers who delivered lifesaving doses in record time. But President Joe Biden’s decision to support waiving intellectual property rights for coronavirus shots had a broader purpose: to broadcast his administration’s commitment to global leadership. More than a month of internal debate led up…

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U.S. Congress passes $1.19 trillion COVID-19 relief bill

U.S. Congress passes $1.19 trillion COVID-19 relief bill

In a massive and early victory for the Democrats, the House of Representatives approved 220-211 a $1.9 trillion COVID-19 relief bill, voting almost entirely along party lines. The bill, having already passed the Senate, will be signed into law by U.S. President Joe Biden on Friday. “Help is here,” Mr Biden tweeted shortly after the House had voted on the American Rescue Plan. He called the bill – which is one of the largest stimulus measures on record — a “historic victory” for the American people. Eligible Americans will receive…

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Finland to end state of emergency as COVID-19 cases drop & will finance post-Covid stimulus with debt

Finland to end state of emergency as COVID-19 cases drop & will finance post-Covid stimulus with debt

Finland should end its COVID-19 state of emergency as infection rates decline, Prime Minister Sanna Marin said on Tuesday, adding that the issue would go before parliament. “We see that the conditions no longer call for the emergency powers legislation,” Marin said. On April 9, Marin had presented a plan to relax restrictions in the run-up to the summer. The state of emergency was declared on March 1 because of a third spike in COVID-19 infections that began in late January. The daily number of coronavirus infections has been decreasing since…

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Reports say that Huawei will launch test satellites for 6G technology verification in July

Reports say that Huawei will launch test satellites for 6G technology verification in July

5G technology has now gone mainstream when it comes to offering support on consumer electronics like smartphones, although the deployment of 5G infrastructure is still limited to developed countries online while developing nations are working towards it. As 5G communication technology has reached the milestone, companies have now started working on the next-generation technology — 6G. One of the leaders in this segment, the Chinese giant Huawei, is now moving towards the next step. Report coming from China, citing Chang’an Shumajun as source who has close ties to Huawei, says…

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AS 2021 begins, Europe’s hotel construction pipeline stands at 1,905 projects with 307,093 rooms

AS 2021 begins, Europe’s hotel construction pipeline stands at 1,905 projects with 307,093 rooms

According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts at LE report that at the close of 2020, Europe’s hotel construction pipeline increased 2% by projects and 3% by rooms year-over-year (YOY) to end the fourth quarter with 1,905 projects and 307,093 rooms, a record high project and room count for the region. Europe’s construction pipeline has remained robust as hotel developers have purposely delayed their opening dates to await improved operating conditions. Rooms under construction are at an all-time high of 967 projects/157,833…

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Whatsapp,Facebook,Twitter,Instagram Signal & Telegram face problems as India announces new social media rules.

Whatsapp,Facebook,Twitter,Instagram Signal & Telegram face problems as India announces new social media rules.

India’s new social media regulations want social media apps like WhatsApp, Signal and Telegram to identify the ‘first originator’. In cases where social media apps are being used to spread ‘mischief’, the government wants the ability to track down the instigators. Tracking the origin of messages may require apps offering privacy to break end-to-end encryption. To prevent the misuse of social media, the Union government on Thursday announced new rules that make it mandatory for platforms such as WhatsApp to aid the government in identifying the “originator” of certain messages containing unlawful…

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China Outspends Rest of the World on 5G Infrastructure By 2 is to 1 Ratio

China Outspends Rest of the World on 5G Infrastructure By 2 is to 1 Ratio

When Beijing sets its mind to building new infrastructure, there’s very little that can stop it. That’s the message coming from a top telecom official who was talking up China’s fast-growing 5G network at a major industry event taking place this week in Shanghai. The nation now has more than 718,000 base stations for the cutting-edge communications technology, covering all of its major cities, said Liu Liehong, a vice minister at the Ministry of Industry and Information Technology (MIIT). The nation’s huge base station buildup means China is now home…

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Analysts’ View: U.S. stock futures dip as election results trickle in

Analysts’ View: U.S. stock futures dip as election results trickle in

(Reuters) – U.S. stock market futures dipped on Tuesday as early voting projections in the U.S. presidential election pointed to a close result, creating uncertainty for markets.Investors had hoped to avoid a prolonged process that would delay any stimulus to help an economy reeling from the coronavirus pandemic. E-Mini futures for the S&P 500 ESc1 were down 0.1% during a volatile session, having earlier been up 1%. Signs that President Donald Trump could win Florida dampened expectations of a quick outcome and saw 10-year Treasury yields drop to 0.85% US10YT=RR from a five-month…

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