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Contents contributed and discussions participated by lilyrashkind

lilyrashkind

Federal officials say efforts in Wilmington are national example of how to address hous... - 0 views

  • On a day where, nationally, federal officials unveiled an initiative to address the affordable housing shortage, efforts to provide such opportunities in Wilmington were highlighted as an example of what was achievable when all levels of government and community worked together for the greater good. While U.S. Department of Housing and Urban Development Regional Administrator Matthew Heckle noted June is a month where homeownership is celebrated, he called June 1st a "national day of action" to answer President Joe Biden's call to "solve the housing supply deficit that our nation faces, and makes it so difficult for so many families to find, afford and keep a roof over their heads."
  • From the front yards of the Habitat For Humanity-built Amara Way II townhomes along Bennett Street in Wilmington--and across from the Amala Way I homes previously completed--HUD Deputy Secretary Adrianne Todman said everywhere she travels across the country, she's heard from someone who's had trouble accessing home ownership.Luckily, she said, the problem is one that can be addressed, and through the Our Way Home initiative, HUD's "answer to the president's call to solve the housing supply deficit that our nation faces," the steps to do so are ones being accomplished in Wilmington already. 
  • "One of the reasons I love coming to events like this is that I pick up something, I learn something that I then talk about throughout the rest of the country," Todman said. "What you're doing here, I will be talking about in Nevada, in Idaho, in Florida, in Wyoming, because it's going to take this level of intentionality...for us to be moving forward as a country, as we should."Addressing housing issues should be everyone's focus, said U.S. Sen. Chris Coons, because it's the number one priority to be fixed that can impact all the other issues that drag a community down. Ensuring access to safe, affordable, quality housing trickles down to ultimately impacting issues in education, public health, public safety, and challenges with families, children, and seniors. 
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  • Additionally joined by U.S. Sen. Tom Carper, New Castle County Executive Matt Meyer, and Wilmington Mayor Mike Purzycki, Habitat for Humanity of New Castle County CEO Kevin Smith told everyone to get ready for a serious facelift for a Wilmington neighborhood that often gets a bad rap.
lilyrashkind

Tulsa shooting: Four dead, multiple injured in "catastrophic scene" at Saint Francis Ho... - 0 views

  • Tulsa Police Department Capt. Richard Meulenberg told CNN multiple people were wounded — he said it was fewer than ten and no one had wounds that were considered life-threatening. He told The Associated Press the medical complex was a "catastrophic scene."
  • The shooting occurred a little before 5 p.m. local time on the campus of Saint Francis Hospital, Tulsa Deputy Police Chief Eric Dalgleish told reporters. Officers responded to the scene within three minutes and made contact with the gunman about five minutes later, he said.
  • The amount of time it took police in Uvalde, Texas, to engage the gunman during last week's deadly shooting at Robb Elementary School has become a key and controversial focus of that probe. Officers waited more than an hour to breach the classroom where the gunman attacked.Dalgleish described the gunman as a Black male believed to be between 35 and 40 years old and said he was armed with a long gun and a handgun. Both weapons appeared to have been fired, Dalgleish disclosed.
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  • Police later received information that the shooter may have left a bomb in a residence in Muskogee, Oklahoma, Muskogee police said Wednesday night. The home was searched by a bomb squad and no explosives were found, CBS Tulsa affiliate KOTV reported, citing Muskogee Police. Surrounding homes were either evacuated or residents were told to shelter in place.Muskogee is located about 50 miles southeast of Tulsa.Tulsa police asked family and friends of the victims and survivors to go to Memorial High School, a block from the hospital campus, to wait to learn the fate of the people at the shooting scene, KOTV said.  
  • Hodges said she was in lockdown for just under two hours.Another employee wondered out loud, "What's going on with the world these days?" A witness observed, "I mean, it's a doctor's office, like, you can't go nowhere no more without something happening. I's just crazy."
lilyrashkind

Biden Struggles to Defend His Presidency Amid Setbacks | Politics | US News - 0 views

  • But those plans, experts say, may be just that – plans and proposals, many of which need unlikely approval by an uncooperative Congress or are subject to the whims of hostile foreign leaders, unpredictable markets or other forces beyond any president's control.
  • "Did you anticipate that the closure of the Abbott facility, because it was not producing the quality that was necessary, that it would have this profound effect immediately, or did it take a little time?" Biden asked. The question appeared directed at criticisms that the administration did not work better, earlier, to head off shortages when Abbott was forced to recall contaminated formula.The public relations effort, however, may not be enough to boost Biden's low approval ratings in time to help Democrats in a challenging midterm election season this fall. And in many cases, Biden's ability to fix the problems bedeviling the administration is limited.
  • On COVID-19, Biden has indeed ramped up testing and vaccinations during his term, Perry says. But he can't fight Mother Nature and human nature, she adds, noting that public impatience with masking and the virus's mutations aren't things he can control.On Ukraine, Biden has repeatedly noted his success in strengthening the NATO alliance. But "has he ended the war? No. That's something a president can't do," Perry adds. Aside from the threat of the war itself, the ongoing Russian invasion means higher gas prices as well, since the U.S. and its allies have imposed embargoes on Russian energy.
lilyrashkind

Lives Cut Short: COVID-19 Takes Heavy Toll on Older Latinos | Healthiest Communities He... - 0 views

  • LOS ANGELES – In December 2020, about 10 months into the COVID-19 pandemic, Javier Perez-Torres boarded a bus from Los Angeles to Tijuana, Mexico, to buy a bracelet for the upcoming birthday of one of the five granddaughters who lived with him and his wife. Perez-Torres, 68, a Mexican immigrant, liked the selection of inexpensive jewelry available in the city just south of the U.S. border, so he made the trek, which lasted more than four hours round-trip.
  • For more than a month, Miron went to the hospital to see her husband, who’d been intubated. But nurses – following COVID-19 safety protocols – wouldn’t let her in. She’d sit on a bench outside the hospital for hours, then go home, and repeat the process.In early February of last year, a nurse called to let her know her partner of more than 40 years had died. She could now see him. “I said, ‘Why would I want to see him now?’” Alicia recalls in an interview in Spanish.
  • Overall, mortality from COVID-19 is some two to three times higher for Latinos than for non-Hispanic whites, says Dr. Michael Rodriguez, vice chair in the Department of Family Medicine at the David Geffen School of Medicine at UCLA. Rodriguez also is a professor in the Department of Community Health Sciences in UCLA’s Fielding School of Public Health.
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  • Latinos have maintained this type of edge despite generally having lower incomes, less access to health care and a greater prevalence of some chronic health issues, such as diabetes and obesity. Some researchers believe the life expectancy advantage is tied to the fact that many Latino immigrants to the U.S. are younger and healthier than many older Latinos, and have lower rates of smoking.
  • The researchers used projections of COVID-19 mortality to reach their conclusions, and a follow-up study arrived at similar findings. A CDC analysis showing provisional life expectancy estimates also pointed to a three-year drop in life expectancy for Latinos, and a shrinking gap between Latinos and whites.
  • Latino subgroups have an array of political and cultural differences. But one cultural norm that cuts across all groups is the primacy of family. Whatever country they’re descended from, it’s not uncommon for Latinos in the U.S. to live in multigenerational households that often include young children, their adult parents and a grandparent or grandparents.When young children and adults – many of whom are essential workers – live with elderly grandparents, “that increases the risk for the older people in the household,” says Dr. Luis Ostrosky, chief of the Division of Infectious Diseases at the McGovern Medical School at UTHealth Houston. “If the younger people in the household contract COVID-19, they may be OK, because younger people have stronger immune systems and tend to be healthier. Older people – who tend to be not as healthy and have chronic diseases – may become severely ill, with increased risk of hospitalization and mortality.”
  • “Once you put all those together, what you find is you have the disappearing of the Latino paradox,” Saenz says.While older Latinos have continued to have a higher rate of COVID-19 mortality than their white counterparts during each year of the pandemic, the difference in death rates has diminished over time. During the first year of the crisis, Latinos age 65 and older died of COVID-19 at 2.1 times the rate of older whites, Saenz and Garcia’s research shows. In 2021, older Latinos died at 1.6 times the rate of older whites, and into late April of this year, older Hispanics had died at 1.2 times the rate of older whites. Saenz attributes the narrowing difference to COVID-19 death rates among older whites in red states where vaccination rates are lower.
  • Transportation, language and employment. A study in 2020 from the UCLA Latino Policy & Politics Initiative found Latinos (and Blacks) in Los Angeles County and New York City were roughly twice as likely to die of COVID-19 as non-Hispanic whites as of July 20 of that year, and noted that carpooling or taking public transportation to work may raise the risk of coronavirus exposure. The study also found that 34% and 37% of the populations in Los Angeles County and New York City were foreign-born, respectively, with Latinos making up the largest share of that population in each area. Approximately 13% of the foreign-born do not speak English, according to the report, which poses a challenge to their obtaining important health information.
  • “A three-year reduction in life expectancy is huge in historical terms. We usually have not seen reductions this large except during times of war or major pandemics,” says Theresa Andrasfay, a postdoctoral scholar at the Leonard Davis School of Gerontology at USC and one of the PNAS study’s researchers. “Of course, it’s really sad to think about the individuals who died of COVID, but it also has broader implications for the family members of those who died.”COVID-19 has not only claimed the lives of many older Latinos, but many younger, working-age Latinos as well, leaving behind children, siblings, parents and grandparents who depended on them, Andrasfay says. She says she and other researchers are working on an update, tracking the effect of COVID-19 on life expectancy in 2021: “We’re finding a similar pattern (to 2020), with Latinos having the largest reduction in life expectancy.”
  • Though he wasn’t in the best of health, Salvador Macias, 83, enjoyed going to a neighborhood community center for senior activities in Long Beach, a beachside city about 25 miles south of downtown Los Angeles. He lived in a modest, tidy house with his wife, Manuela, and their adult daughter, Julie.Salvador suffered from three chronic health conditions: diabetes, high cholesterol and high blood pressure, says his son, Joe Macias.In August 2020 – four months before health care workers received the first COVID-19 vaccine – the elder Macias became ill with the disease, suffering from fatigue and severe shortness of breath. After several days, Salvador died at home. Manuela, who doesn’t have the chronic health conditions her husband had, also contracted COVID-19. She was hospitalized for a week, but survived.
lilyrashkind

WHO: Monkeypox Outbreak Suggests Virus Was Spreading Undetected | Health News | US News - 0 views

  • The head of the World Health Organization on Wednesday said that the rapid appearance of the monkeypox outbreak suggests the virus has been spreading undetected.“Investigations are ongoing but the sudden appearance of monkeypox in many countries at the same time suggests there may have been undetected transmission for some time,” WHO Director-General Tedros Adhanom Ghebreyesus said at a briefing.
  • “Currently, the overall public health risk at global level is assessed as moderate considering this is the first time that monkeypox cases and clusters are reported concurrently in widely disparate WHO geographical areas, and without known epidemiological links to non-endemic countries in West or Central Africa,” WHO said.The risk level could increase if the virus “exploits the opportunity to establish itself as a human pathogen and spreads to groups at higher risk of severe disease such as young children and immunosuppressed persons,” it added.
lilyrashkind

June Poised to be Major Month for Coronavirus Vaccine Decisions | Health News | US News - 0 views

  • The Food and Drug Administration’s vaccine advisory committee has several meetings scheduled for June, including a two-day meeting in mid-June when experts will consider whether to allow shots from Moderna and Pfizer in America’s youngest kids – a major milestone that has eluded parents for months.
  • Additionally, the committee meets at the end of June to discuss whether and how to modify the coronavirus vaccine to combat circulating variants.The pair of developments could mean major changes on the vaccine front. Many parents have criticized the Biden administration for moving too slowly to authorize a coronavirus vaccine for the youngest children as record numbers became infected and hospitalized during the omicron wave. Meanwhile, experts have raised concerns over waning vaccine efficacy while waves of new coronavirus variants wash over the country and show no signs of slowing.
  • The company said that the majority of infections were mild and that no kids developed severe cases of COVID-19, but it acknowledged that efficacy of the vaccine dropped during the omicron surge. It added that it is “preparing to evaluate the potential of a booster dose for all pediatric populations.”
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  • Despite mounting anticipation for the decision, the percentage of parents who will get their young children vaccinated is likely to be low compared to other age groups. A survey from February found that 31% of parents of children in the age range will get their kid vaccinated right away if a vaccine is authorized.
  • The decision has to come this month “because of the time required for manufacturing the necessary doses,” three of FDA’s top officials – FDA Commissioner Robert Califf, vaccine expert Peter Marks and principal deputy commissioner Janet Woodcock – wrote in a paper published by the journal JAMA in May.Both Pfizer and Moderna are studying vaccines designed to combat omicron and other strains. However, data on the shots remains scarce.
  • Clinical data from Moderna’s shot is expected this month, according to the company. Moderna in April released findings to support its booster shot development strategy, but the data comes after research in animals suggested the omicron-specific shot might not provide additional protection. A study from scientists at the National Institutes of Allergy and Infectious Diseases’s Vaccine Research Center found that primates boosted with the original vaccine had similar levels of protection as monkeys who got an omicro
  • The Biden administration has warned of potential fall and winter surges infecting up to 100 million Americans as it gears up for a fall booster shot campaign, whether that is with an omicron-specific shot or not. The FDA authorized a fourth vaccine dose for people ages 50 and older in March, and expanding the shot to more age groups is under consideration.“Administering additional COVID-19 vaccine doses to appropriate individuals this fall around the time of the usual influenza vaccine campaign has the potential to protect susceptible individuals against hospitalization and death, and therefore will be a topic for FDA consideration,” the officials wrote.In fact, the officials said that coronavirus booster shots could be on their way to becoming a yearly occurrence.
  • It is time to “accept that the presence of SARS-CoV-2, the virus that causes COVID-19, is the new normal,” according to the officials.“It will likely circulate globally for the foreseeable future, taking its place alongside other common respiratory viruses such as influenza,” they wrote.But paying for the shots remains an issue for the Biden administration as Congress shows little appetite for approving more COVID-19 funding.
lilyrashkind

Uvalde Mayor Don McLaughlin describes attempts to phone gunman during school massacre -... - 0 views

  • In an interview with The Washington Post, McLaughlin (R) said he rushed to Hillcrest Funeral Home about 15 minutes after “the first call” reporting that 18-year-old Salvador Ramos had crashed his pickup truck nearby. He found himself standing near an official he identified only as “the negotiator,” while frightened parents gathered outside the school and police waited well over an hour to storm the classroom.
  • He said he doesn’t believe the negotiator was aware there were children calling 911 and asking police to save them while the gunman was in the classroom. The mayor said he was not aware of those calls, nor did he hear shots fired from inside the school, across the street.
  • In the recent Texas primary for governor, he opted not to endorse the Republican incumbent, Gov. Greg Abbott, labeling him a “fraud” over his approach to the border and immigration. And he has appeared on “Tucker Carlson Tonight” multiple times to lambaste the Border Patrol’s release of migrants into the streets of Uvalde and lament that he cannot get a call back from the state’s two Republican senators, Ted Cruz and John Cornyn.
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  • McLaughlin said he has not been in touch with Pete Arredondo, the embattled head of the Uvalde school district’s police department, who served as the incident commander during the shooting and has been criticized for not sending officers in sooner.Arredondo has not spoken publicly about the incident, telling CNN on Wednesday that he would do so after more time has passed and the victims of the massacre are buried.
  • Last week, Abbott said he was “misled” by law enforcement authorities about the series of events that took place.
  • “Why should any of us be afraid of expanding background checks? There’s nothing wrong with that, I don’t have anything to hide,” said McLaughlin, who has also long pushed to build a psychiatric hospital in Uvalde.
  • During the interview on Wednesday, however, McLaughlin took a much more conciliatory tone, urging compromise between Republicans and Democrats to find a set of laws that “work for everyone.”
  • “The briefing that the governor and the lieutenant governor and everybody else in that room [had] ... was given by the DPS, not local law enforcement,” McLaughlin said.“They’ve had three press conferences,” he added. “In all three press conferences, something has changed.”
  • In his letter to Patrick, who presides over the Senate, and House Speaker Dade Phelan (R), Abbott asked that both chambers form committees to explore five issues: school safety; mental health; social media; police training; and firearm safety.“As leaders, we must come together at this time to provide solutions to protect all Texans,” Abbott said in his letter.
  • Abbott also announced new instructions for the Texas School Safety Center, a research center focused on campus safety and security that is statutorily responsible for auditing schools for safety processes and establishing best practices.
  • According to a letter Abbott sent to education officials, the governor said the San Marcos-based safety center should start conducting “random intruder detection audits,” designed to find weaknesses in campus security systems.
  • McLaughlin said he could not imagine the school returning to normal operations.“I hope we tear it down to the ground,” he said. “I would never expect a teacher, a student, anyone to go walk back in that building.”
lilyrashkind

Biden says he heard late about baby formula shortage - The Washington Post - 0 views

  • Biden’s comments came after he met with executives of companies that manufacture infant formula, who told the president they knew the shortage would be severe in February after the closure of an Abbott plant in Michigan. Biden suggested he was not informed until April.
  • The disconnect between the industry’s alertness to the looming crisis and the administration’s lack of awareness was hinted at during the panel discussion itself. Biden asked one panelist directly if his company had been surprised by the “profound effect immediately” of the Abbott closure.“No, sir, we were aware of the general impact that this would have,” said Robert Cleveland, a senior vice president at Reckitt. “From the moment that that recall was announced, we reached out immediately to retail partners like Target and Walmart to tell them this is what we think will happen.”
  • “We have been doing this whole-of-government approach since the recall,” she said at the White House daily press briefing after Biden met with the executives. “We have been working on this for months, for months. We have been taking this incredibly seriously.”When pressed why Biden himself said he was unaware of the “whole-of-government approach,” Jean-Pierre said that Biden “has multiple issues, crises at the moment” and that administration officials often respond to problems before the president is aware.
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  • In recent weeks, Biden has scrambled to show he is on top of the matter. He invoked the Defense Production Act to ramp up domestic production of baby formula, and his administration has airlifted supplies from foreign countries to try to address the mushrooming crisis. But the declaration by industry leaders that the scope of the problem was immediately clear to them in February raises questions of why the president was slow to learn of the issue.
  • “Seeing the empty shelves is unacceptable,” she said. “Seeing what families are going through is unacceptable. This is why we have been working 24-7 to make sure that we are using every lever at our disposal to deliver for the American people.”
  • Officials said United Airlines had agreed to transport Kendamil formula for free from Heathrow Airport in London to multiple airports across the United States over a three-week period. The formula will be distributed and available for purchase at selected U.S. retailers nationwide as well as online, the White House said.All told, about 3.7 million 8-ounce bottle equivalents of Kendamil infant formula will be delivered, it said.
  • Still, despite the all-hands-on-deck approach to replenishing the American supply, store shelves continue to be emptier: Data firm IRI reported Tuesday that the nationwide in-stock inventory figure was 76 percent for the week ending May 22, down from 79 percent the week before.
lilyrashkind

Europe's Russian Oil Ban Could Mean a New World Order for Energy - The New York Times - 0 views

  • HOUSTON — The European Union’s embargo on most Russian oil imports could deliver a fresh jolt to the world economy, propelling a realignment of global energy trading that leaves Russia economically weaker, gives China and India bargaining power and enriches producers like Saudi Arabia.
  • Europe’s hunt for new oil supplies — and Russia’s quest to find new buyers of its oil — will leave no part of the world untouched, energy experts said. But figuring out the impact on each country or business is difficult because leaders, energy executives and traders will respond in varying ways.
  • China and India could be protected from some of the burden of higher oil prices because Russia is offering them discounted oil. In the last couple of months, Russia has become the second-biggest oil supplier to India, leapfrogging other big producers like Saudi Arabia and the United Arab Emirates. India has several large refineries that could earn rich profits by refining Russian oil into diesel and other fuels in high demand around the world.
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  • “It’s a historic, big deal,” said Robert McNally, an energy adviser to President George W. Bush. “This will reshape not only commercial relationships but political and geopolitical ones as well.”E.U. officials have yet to release all the details of their effort to squelch Russian oil exports but have said those policies will go into effect over months. That is meant to give Europeans time to prepare, but it will also give Russia and its partners time to devise workarounds. Who will adapt
  • In addition, Germany and Poland have pledged to stop importing oil from Russia by pipeline, which means Europeans could reduce Russian imports by 3.3 million barrels a day by the end of the year.And the union has said European companies will no longer be allowed to insure tankers carrying Russian oil anywhere. That ban will also be phased in over several months. Because many of the world’s largest insurers are based in Europe, that move could significantly raise the cost of shipping Russian energy, though insurers in China, India and Russia itself might now pick up some of that business.Before the invasion of Ukraine, roughly half of Russia’s oil exports went to Europe, representing $10 billion in transactions a month. Sales of Russian oil to E.U. members have declined somewhat in the last few months, and those to the United States and Britain have been eliminated.
  • Another hope of Western leaders is that their moves will reduce Russia’s position in the global energy industry. The idea is that despite its efforts to find new buyers in China, India and elsewhere, Russia will export less oil overall. As a result, Russian producers will need to shut wells, which they will not be able to easily restart because of the difficulties of drilling and producing oil in inhospitable Arctic fields.
  • “Why wait six months?” asked David Goldwyn, a top State Department energy official in the Obama administration. “As the sanctions are configured now, all that will happen is you will see more Russian crude and product flow to other destinations,” he said. But he added, “It’s a necessary first step.”
  • Russian natural gas for some time, possibly years. That could preserve some of Mr. Putin’s leverage, especially if gas demand spikes during a cold winter. European leaders have fewer alternatives to Russian gas because the world’s other major suppliers of that fuel — the United States, Australia and Qatar — can’t quickly expand exports substantially.Russia also has other cards to play, which could undermine the effectiveness of the European embargo.
  • India is getting about 600,000 barrels a day from Russia, up from 90,000 a day last year, when Russia was a relatively minor supplier. It is now India’s second-biggest supplier after Iraq.But India could find it difficult to keep buying from Russia if the European Union’s restrictions on European companies insuring Russian oil shipments raise costs too much.“India is a winner,” said Helima Croft, RBC’s head of commodity strategy, “as long as they are not hit with secondary sanctions.”
lilyrashkind

Buffalo shooting suspect is indicted on a domestic terrorism charge : NPR - 0 views

  • The white 18-year-old man accused of fatally shooting 10 Black people at a Buffalo supermarket was charged Wednesday by a grand jury with domestic terrorism motivated by hate and 10 counts of first-degree murder.
  • The charge, Domestic Acts of Terrorism Motivated by Hate in the First Degree, is punishable with a sentence of life imprisonment without parole. Murder charges were filed for each of the victims, who ranged in age from 32 to 86 and included eight shoppers, the store security guard and a church deacon who drove shoppers to and from the store with their groceries. The gunman, carrying an AR-15-style rifle he had recently purchased, opened fire on Saturday afternoon shoppers at the only supermarket in the predominantly Black neighborhood.
  • The domestic terrorism charge accuses Gendron of killing "because of the perceived race and/or color" of his victims. Former Gov. Andrew Cuomo proposed the domestic terrorism hate crime law in August 2019, in the wake of a mass shooting targeting Mexicans at a Walmart store in El Paso, Texas. The measure, dubbed the "Josef Neumann Hate Crimes Domestic Terrorism Act" after an attack at a rabbi's home in Munsey, New York, was signed into law on April 3, 2020, and took effect Nov. 1, 2020.
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  • Gendron drove about three hours from his home in Conklin, New York, intending to kill as many Black people as possible, investigators have said. His attorney, Brian Parker, said he had not seen the indictment and could not comment, adding that prosecution and defense attorneys have been barred by a judge from discussing the case publicly.
lilyrashkind

Javier Olivan, Meta's new COO, built his career on global growth - 0 views

  • Sandberg, the author of the best-selling 2013 book “Lean In: Women, Work, and the Will to Lead,” has over 900,000 Instagram followers. Olivan’s Instagram, with 17 followers, is private. Until Wednesday, Olivan hadn’t published a public post to his Facebook profile since 2018.
  • Olivan’s quiet public persona doesn’t reflect his influence at the company. He’s among a handful of executives reporting to Zuckerberg, climbing near the top of the latter in his almost 15-year stint at the social-media company. He joined the C-suite five months ago, assuming the title of chief growth officer, and is also vice president of cross-Meta products and infrastructure.If Sandberg led the charge in building Facebook’s advertising business, which still represents 97% of Meta’s total revenue, Olivan deserves credit for its global expansion. His first job at the company, from 2007 to 2011, was head of international growth.
  • In addition to Vy Global, Olivan spent six years on the board of Latin American e-commerce company MercadoLibre, and he invested in geospatial imaging company Satellogic ahead of the SPAC deal it completed in January.But his career has been centered at Facebook. In 2008, Olivan accompanied Zuckerberg for an appearance at the University of Navarra. He later worked on Internet.org, an effort Facebook and other companies launched in 2013 to connect people to internet services in less developed countries.
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  • Spanish was Facebook’s first non-English language, and it was the first project Olivan worked on, he said in an interview earlier this year.Olivan has continued serving the company overseas. As recently as March, he represented Meta on a state visit with Pedro Sánchez, the prime minster o
  • Zuckerberg wrote in his Facebook post that Olivan is taking on integrated ads and business products while continuing to run infrastructure, integrity, analytics, marketing, corporate development and growth.“With some exceptions, I don’t anticipate my role will have the same public-facing aspect, given that we have other leaders at Meta who are already responsible for that work,” Olivan wrote in his Facebook post.
lilyrashkind

China faces a nearly $1 trillion funding gap. It will need more debt to fill it. - 0 views

  • The Chinese government faces a growing shortfall of cash, analysts say, as they predict an increase of debt to fill the gap.The analysts did not share specific figures on how much additional debt might be needed. But they pointed to growing pressure on growth that would require more support from deb
  • BEIJING — The Chinese government faces a growing shortfall of cash, analysts say, as they predict an increase of debt to fill the gap.“The latest wave of Omicron and the widespread lockdowns in place since mid-March have resulted in a sharp contraction in government revenue, including land sales revenue,” Ting Lu, chief China economist at Nomura, and a team said in a report last week.
  • “Much of the incoming ‘stimulus measures’, be it special government bonds or incremental lending by policy banks, will be merely used to fill this funding gap,” the Nomura analysts said.
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  • “Many cities without Omicron outbreaks also suffered, as their economies are linked to those currently under lockdown,” Zhang said in an email in mid-May. “The economic costs are not limited to a small number of cities, it is a national problem.”
  • Excluding tax cuts and refunds, the Ministry of Finance said local fiscal revenue grew by 5.4% during the first four months of the year from a year ago. Eight of China’s 31 province-level regions saw a drop in fiscal revenue during that time, the ministry said, without naming them.Incomplete data for the period from Wind Information showed the regions of Qinghai, Shandong, Liaoning, Hebei, Guizhou, Hubei, Hunan and Tianjin posted year-on-year declines in fiscal revenue for the first four months of the year. Tianjin was the worst with a 27% decline.
  • Even before the latest Covid outbreak, land sales, a significant source of local government revenue, have plunged following Beijing’s crackdown on real estate developers’ high reliance on debt. Local governments are also responsible for implementing tax cuts and refunds that Beijing has announced to support growth.
  • Although financial data isn’t readily available for many Chinese cities, the southern tech hub of Shenzhen released figures showing a 44% year-on-year drop in fiscal revenue in April to 25.53 billion yuan. That followed a 7% year-on-year decline in March to 22.95 billion yuan.
  • Beijing in March already announced an increase in transfer of funds from the central to local governments. When asked in May whether that would be expanded, the Ministry of Finance noted some funding for next year would be transferred ahead of time to help local governments with tax refunds and cuts this year.
  • In late April, Chinese President Xi Jinping called for a nationwide push to develop infrastructure ranging from waterways to cloud computing infrastructure. It was not clear at what scale or timeframe the projects would be constructed.
  • “We expect the debt to continue to climb this year as a result of these economic pressures,” Yuan said, noting it remains to be seen how Beijing decides to balance economic growth with debt levels this year.
lilyrashkind

Self-driving car companies' first step to making money isn't robotaxis - 0 views

  • BEIJING — While governments may be wary of driverless cars, people want to buy the technology, and companies want to cash in.It’s a market for a limited version of self-driving tech that assists drivers with tasks like parking and switching lanes on a highway. And McKinsey predicts the market for a basic form of self-driving tech — known as “Level 2” in a classification system for autonomous driving — is worth 40 billion yuan ($6 million) in China alone.
  • But when it comes to revenue, robotaxi apps show the companies are still heavily subsidizing rides. For now, the money for self-driving tech is in software sales.
  • “As a collaborator, we of course want this sold [in] as many car OEMs in China so we can maximize our [revenue and] profit,” he said, referring to auto manufacturers. “We truly believe L2 and L3 systems can make people drive cars [more] safely.”In a separate release, Bosch called the deal a “strategic partnership” and said its China business would provide sensors, computing platforms, algorithm applications and cloud services, while WeRide provides the software. Neither company shared how much capital was invested.
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  • WeRide has a valuation of $4.4 billion, according to CB Insights, with backers such as Nissan and Qiming Venture Partners. WeRide operates robotaxis and robobuses in parts of the southern city of Guangzhou, where it’s also testing self-driving street sweepers.
  • “Because Bosch is in charge of integration, we have to really spend 120% of our time to help Bosch with the integration and adaptation work,” Han said. WeRide has yet to go public.
  • picks for autonomous driving include ArcSoft and Desay SV.An outsourcing business model in China gives independent software vendors more opportunities than in the United States, where software is developed in-house at companies like Tesla, the analysts said. Beijing also plans to have L3 vehicles in mass production by 2025.“Auto OEMs are investing significantly in car software/digitalization to 2025, targeting US$20bn+ of obtainable software revenue by decade-end,” the Goldman analysts wrote in mid-March.
  • They estimate that for every car, the value of software within will rise from $202 each for L0 cars to $4,957 for L4 cars in 2030. For comparison, the battery component costs at least $5,000 today. By that calculation, the market for advanced driver assistance systems and autonomous driving software is set to surge from $2.4 billion in 2021 to $70 billion in 2030 — with China accounting for about a third, the analysts predict.
lilyrashkind

Start-up investors issue warnings as boom times 'unambiguously over' - 0 views

  • Y Combinator said companies have to “understand that the poor public market performance of tech companies significantly impacts VC investing.”
  • Slow your hiring! Cut back on marketing! Extend your runway!The venture capital missives are back, and they’re coming in hot.With tech stocks cratering through the first five months of 2022 and the Nasdaq on pace for its second-worst quarter since the 2008 financial crisis, start-up investors are telling their portfolio companies they won’t be spared in the fallout, and that conditions could be worsening.
  • It’s a stark contrast to 2021, when investors were rushing into pre-IPO companies at sky-high valuations, deal-making was happening at a frenzied pace and buzzy software start-ups were commanding multiples of 100 times revenue. That era reflected an extended bull market in tech, with the Nasdaq Composite notching gains in 11 of the past 13 years, and venture funding in the U.S. reaching $332.8 billion last year, up sevenfold from a decade earlier. according to the National Venture Capital Association.
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  • As it turns out, technology demand only increased and the Nasdaq had its best year since 2009, spurred on by low interest rates and a surge in spending on products for remote work.
  • “Companies that recently raised at very high prices at the height of valuation inflation may be grappling with high burn rates and near-term challenges growing into those valuations,” Shakir told CNBC in an email. “Others that were more dilution-sensitive and chose to raise less may now need to consider avenues for extending runway that would have seemed unpalatable to them just months ago.”
  • “Our companies heeded that advice and most companies are now prepared for winter,” Lux wrote.
  • “This time, many of those tools have been exhausted,” Sequoia wrote. “We do not believe that this is going to be another steep correction followed by an equally swift V-shaped recovery like we saw at the outset of the pandemic.”Sequoia told its companies to look at projects, research and development, marketing and elsewhere for opportunities to cut costs. Companies don’t have to immediately pull the trigger, the firm added, but they should be ready to do it in the next 30 days if needed.
  • And among companies that are still private, staff reductions are underway at Klarna and Cameo, while Instacart is reportedly slowing hiring ahead of an expected initial public offering. Cloud software vendor Lacework announced staffing cuts on Friday, six months after the company was valued at $8.3 billion by venture investors.“We have adjusted our plan to increase our cash runway through to profitability and significantly strengthened our balance sheet so we can be more opportunistic around investment opportunities and weather uncertainty in the macro environment,” Lacework said in a blog post.
  • Shakir agreed with that assessment. “Like many, we at Lux have been advising our companies to think long term, extend runway to 2+ years if possible, take a very close look at reducing burn and improving gross margins, and start to set expectations that near-term future financings are unlikely to look like what they may have expected six or 12 months ago,” she wrote.
  • Lux highlighted one of the painful decisions it expects to see. For several companies, the firm said, “sacrificing people will come before sacrificing valuation.”But venture firms are keen to remind founders that great companies emerge from the darkest of times. Those that prove they can survive and even thrive when capital is in short supply, the thinking goes, are positioned to flourish when the economy bounces back.
  • conditions.”CORRECTION: This story was updated to reflect that cloud software vendor Lacework raised $1.3 billion in growth funding at a valuation of $8.3 billion.
lilyrashkind

Rapid grocery delivery start-ups Getir, Gorillas slash jobs - 0 views

  • Fears of an impending recession are forcing rapid grocery delivery companies to slam the brakes on growth.This week, two of the largest instant grocery apps, Getir and Gorillas, announced decisions to lay off hundreds of employees. Another firm, Zapp, said it is proposing redundancies in its U.K. team.Getir told staff Wednesday that it plans to reduce its global headcount by 14%. The Turkish company employs more than 6,000 people worldwide, according to LinkedIn.
  • Gorillas on Tuesday said it was making the “extremely hard decision” to let go about 300 of its employees, citing the need to reach profitability in the long run.The Berlin-based company is also evaluating a possible exit from Italy, Spain, Denmark and Belgium, among other “strategic options,” as it shifts focus to more profitable markets like the U.S., U.K. and Germany.
  • Getir and Gorillas have raised $1.8 billion and $1.3 billion to date, respectively. Getir scored a $12 billion valuation in March, while Gorillas was last valued at $3 billion. Both firms have burned through significant amounts of cash to expand in the U.S.London-based grocery start-up Zapp on Wednesday confirmed reports that it is considering making layoffs of up to 10% of staff. A final decision hasn’t yet been made as a consultation is underway with the firm’s U.K. employees.
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  • “As a venture-backed scale-up that will need to fundraise again in the future, we therefore need to adjust our business plan to reduce costs and accelerate our path to profitability.”
  • The recent raft of layoffs in the industry highlights a broader shift in investor sentiment toward high-growth tech companies, many of which have taken steps to cut down on costs recently against the backdrop of a sharp plunge in global stock markets. Earlier this week, buy now, pay later firm Klarna said it would lay off about 10% of staff following reports the company was seeking a new round of funding that would reduce its valuation by a third.
  • Meanwhile, New York start-ups Fridge No More and Buyk — which both raised money from Russian investors — wound down their operations after facing issues with fundraising after Russia’s invasion of Ukraine.
  • Earlier this month, London-based grocery service Jiffy said it would stop making deliveries and instead shift its focus toward in-person grocery collection, in a bid to convince investors that it can achieve profitability. The company has since announced plans to resume deliveries through a deal with Zapp.
lilyrashkind

Elon Musk tells Tesla workers to be in office full time or resign, report says - 0 views

  • Elon Musk has told Tesla employees to come back into their respective offices at least 40 hours a week or leave the company.Musk said in two separate emails that people must show up for at least 40 hours per week in a main Tesla office. “If you don’t show up, we will assume you have resigned,” he said in one of the emails, first reported by Electrek and also obtained by CNBC.
  • “Tesla has and will create and actually manufacture the most exciting and meaningful products of any company on Earth. This will not happen by phoning it in,” he added.
  • For example, when Covid numbers were rising in California in April 2020, Musk called health restrictions “fascist” in a rant during a company earnings call. He also kept his company’s Fremont, California, plant operating despite health orders but faced no repercussions from the state or Alameda County.
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  • By contrast, some big tech employers including Atlassian and Airbnb now allow remote work year-round.
  • Everyone at Tesla is required to spend a minimum of forty hours in the office per week. Moreover, the office must be where your actual colleagues are located, not some remote pseudo-office.If you don’t show up, we will assume you have resigned.The more senior you are, the more visible must be your presence. That is why I lived in the factory so much- so that those on the line could see me working alongside them. If I had not done that, Tesla would long ago have gone bankrupt.
lilyrashkind

Facebook parent Meta COO Sheryl Sandberg is stepping down - 0 views

  • Sheryl Sandberg is stepping down from her role as Chief Operating Officer at Meta, the company formerly known as Facebook.Sandberg joined Facebook in early 2008 as the No. 2 to Facebook CEO and co-founder Mark Zuckerberg, and helped turn Facebook into an advertising juggernaut and one of the most powerful companies in the tech industry, with a market cap that topped $1 trillion at one point.
  • Meta has come under fire in recent years for its massive influence, its lack of success in stopping the spread of misinformation and harmful material, and its acquisitions of one-time rivals like Instagram and WhatsApp. Zuckerberg and other execs have been forced to testify before Congress multiple times in the last three years, although Sandberg has largely escaped that spotlight. The company currently faces an antitrust lawsuit from the Federal Trade Commission and could see scrutiny from other agencies like the Securities and Exchange Commission after a whistleblower filed a complaint about its efforts to combat hate on its platform.
  • In 2013, she released the book “Lean In: Women, Work, and the Will to Lead,” focusing on the challenges women face in the workplace and what they can do to advance their careers.In 2015, she was faced with the unexpected death of her husband Dave Goldberg, who suffered cardiac arrhythmia and collapsed on a treadmill. Sandberg has spoken at length about dealing with the grief of Goldberg’s passing, and in 2017, she released a book titled “Option B” centered around the topic.
lilyrashkind

Southern California water restrictions start today as drought worsens - 0 views

  • Sweeping restrictions on outdoor water use go into effect on Wednesday for more than 6 million residents in Southern California as officials work to conserve water during a severe drought.The conservation rules, among the strictest ever imposed in the state, were set by the Metropolitan Water District of Southern California, one of the largest water distributors in the country.
  • The megadrought in the U.S. West has produced the driest two decades in the region in at least 1,200 years. Conditions are likely to continue through 2022 and could persist for years. Researchers publishing in the journal Nature Climate Change have estimated that 42% of the drought’s severity is attributable to human-caused climate change.
  • During the state’s drought from 2012 to 2016, former Gov. Jerry Brown ordered a mandatory 25% cutback in water use, during which many residents responded by switching to drought-tolerant landscaping.Gov. Gavin Newsom has not imposed such mandatory restrictions, but requested last year that residents curb household water consumption by 15%. Officials also have urged people to use recycled water for outside projects, take shorter showers and only run dishwashers and washing machines when full.
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  • “Californians made significant changes since the last drought, but we have seen an uptick in water use, especially as we enter the summer months,” Newsom said in a statement. “We all have to be more thoughtful about how to make every drop count.”
lilyrashkind

Tulsa, Oklahoma, shooting: At least 4 people were killed on St. Francis Hospital campus... - 0 views

  • Officers responded to the scene at roughly 4:56 p.m. and made contact with victims and the suspect roughly five minutes later, Dalgleish said. The officers who arrived could hear shots inside the building, which directed them to the second floor, according to the deputy chief. "The scene is fairly limited to one section of that floor, on the second floor," Dalgleish said. At least part of the scene was in an orthopedic office on that floor, according to Dalgleish.
  • Tulsa Mayor G.T. Bynum expressed "profound gratitude" for the first responders who "did not hesitate today to respond to this act of violence.""The men and women of the Tulsa Police Department did not hesitate," the mayor said. LIVE UPDATES: Tulsa hospital campus shooting
  • "We're treating this as a catastrophic scene right now," Meulenberg said.There has been a reunification site set up for family members and friends at Memorial High School west of LaFortune Park, police added.
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  • he Bureau of Alcohol, Tobacco, Firearms and Explosives is also assisting on scene, the ATF Dallas Field Division said on Twitter. "What happened today in Tulsa is a senseless act of violence and hatred," Oklahoma Gov. Kevin Stitt wrote on Twitter. "I am grateful for the quick and brave actions of the Tulsa Police Department and other first responders who did their best to contain a terrible situation."
  • Debra Proctor was in another building on the hospital campus for a doctor's appointment when she heard police sirens ringing out. When she stepped outside, first responders were lined up everywhere, she told CNN. Proctor, who has been a registered nurse for more than four decades, said it was a "shocking" scene."Police were everywhere in the parking lot, up and down the surrounding blocks," Proctor said. "They were still arriving when I was leaving."Kalen Davis, a lifelong Tulsa resident, was waiting in traffic around 5 p.m. local time when she saw multiple police cars responding to the scene.
lilyrashkind

Ukraine's Muslim Crimea Battalion Yearns for Lost Homeland | World News | US News - 0 views

  • YASNOHORODKA, Ukraine (Reuters) - Standing amid the charred remains of a roadside hotel on a major highway near Kyiv, Isa Akayev explained what drove him to build his Muslim volunteer unit and fight for Ukraine.
  • Many Tatars opposed Moscow's annexation of Crimea, which had followed the overthrow of a pro-Kremlin Ukrainian president amid mass street protests.Their suspicion of Moscow has deep roots. Soviet dictator Josef Stalin ordered the mass deportation of Crimea's Tatars - Akayev’s grandparents among them - in 1944, accusing them of collaboration with Nazi Germany.They were only allowed to return with their descendants in the 1980s - as Akayev did from Uzbekistan in 1989 - and many welcomed the 1991 collapse of the Soviet Union as a liberation.
  • become a fully-fledged unit of Ukraine's army.Dozens of other volunteer battalions sprang up in 2014 and began helping Ukraine's unprepared regular army to fight in the Donbas. They included two Chechen units, a Georgian one, and several with a right-wing nationalist ethos. Some have since disarmed while others have joined the regular army.Russia has been scathing about such units. Foreign Minister Sergei Lavrov said on the eve of the war that providing shoulder-held anti-aircraft missiles to former volunteer battalions was evidence of a "militaristic psychosis".A Ukrainian presidential envoy said in March that such volunteer battalions now numbered more than 100. Ukraine's government celebrates them as heroes, celebrating their exploits on an annual volunteers' day.
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  • Moscow, which in 2016 banned the Mejlis, a body representing Crimean Tatars, rejected the report's findings. It says a March 2014 referendum legitimised its "incorporation" of Crimea.The Crimea battalion performed reconnaissance against Russian forces around Yasnohorodka, a village 25km west of Kyiv, and later in nearby Motyzhyn, Akayev said."The residents here were initially very scared when they saw us because they didn't know who we were. We had to shout 'we are Ukrainian'... then people started slowly coming out of their homes and they gave us tea."
  • "We wanted to buy this place, to build a Crimean Tatar school and a mosque here... It didn’t come to anything, and then this happened," Akayev said, gesturing at the building’s charred remains which he said was the result of Russian shelling."I (still) dream about this project, but really I just want to return home to Crimea."
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