Eurozone suffers double-dip recession
The eurozone's economy has fallen back into recession as the impact of the pandemic continues to hit activity.
Europe's economies have been set back by a renewed surge in infections this year and Covid-related restrictions.
The eurozone shrank by 0.6% in the January-to-March period - the second consecutive contraction, which is a widely-used definition of a recession.
It is the second such episode, a so-called double-dip recession, since the onset of the pandemic.
However, among the national economies that have reported data so far, that pattern was repeated only by Italy.
Other countries reported some growth in one or other of the last two quarters.
The French economy did grow in the first three months of this year, by 0.4%, after a decline at the end of 2020, although the rebound was described by the national statistical agency as "limited".
In Germany it was the other way around, with some growth in the fourth quarter of last year and a sharp decline - of 1.7% - revealed by the latest figures.
That said, the economic damage in this phase of the health crisis is less severe. Economic activity in the eurozone in the most recent period was 11% higher than at the nadir in the second quarter of last year.
That supports the idea that businesses have found ways to reduce the impact that restrictions have on what they do, although for some the effect is still severe.
Looking ahead, this weak performance is expected to improve as vaccination programmes allow further easing of restrictions and support consumer confidence. That will be especially important in southern Europe where many businesses need to see a recovery in tourism.
Source-BBC
Sean Connery's last 007 pistol sells for $106K; Bruce Lee's nunchucks for $83K, and more
After furious online and in-person bidding, Julien's Auctions in Los Angeles saw some precious Hollywood memorabilia sell for a mint, as part of its ongoing "Hollywood Legends and Luminaries" series.
The Walther P5 pistol brandished by the late Sean Connery in his final James Bond film, 1983's Never Say Never Again, sold for $106,000. This comes after the pistol he carried in his first James Bond movie, 1962's Dr. No, fetched $256,000 in December.
Other items that sold during the two day event were a pair of wooden nunchucks used by Bruce Lee, which sold for $83,200 -- forty-one times what it was expected to fetch. A blue, pin-striped suit worn by Al Pacino from the climactic shootout scene in 1983's crime classic Scarface sold for $83,200 as well, while the .45 pistol that he carried in 1995's crime epic Heat went for $10,240.
An original prototype xenomorph costume from 1979's Alien sold for more the $44,800, and Michelle Pfieffer's Catwoman cowl from Tim Burton's 1992 film Batman Returns sold for $41,600, well over the $8,000 it was expected to fetch. And someone dropped $25,600 -- 25 times its estimated sales price -- on a wooden ping pong paddle used by Tom Hanks in his Oscar-winning film Forrest Gump.
The auction saw hundreds of other famous movie weapons up for grabs, also including the custom-made Bowie knife used by Brad Pitt in as Nazi hunter Lt. Aldo Raine in Quentin Tarantino's Inglourious Basterds, which sold for $32,000; Marshall Matt Dillon's Gunsmoke Colt .45, which went for $38,400; and Arnold Schwarzenegger's Mr. Freeze rifle from Batman & Robin, which sold for $19,200.
Source-ABC
WEATHER FOR FRIDAY APRIL 30th 2021
PARTLY SUNNY AND HOT WITH A FEW POSSIBLE SHOWERS. TURNING FAIR AND WARM AT NIGHT.
WINDS: SOUTHEAST TO SOUTH AT 10 TO 15 KNOTS, FALLING LIGHT & VARIABLE AT TIMES IN THE NORTHWEST BAHAMAS. EAST TO SOUTHEAST AT 10 TO 15 KNOTS IN THE CENTRAL BAHAMAS & EASTERLY AT 15 KNOTS IN THE TURKS & CAICOS.
SEAS: 2 TO 4 FEET OVER THE OCEAN IN THE NORTHWEST AND CENTRAL BAHAMAS & 3 TO 5 FEET IN THE TURKS & CAICOS ISLANDS.
DAYTIME HIGH TEMPERATURE 88°F 31°C
OVERNIGHT LOW TEMPERATURE 72°F 22°C
SUNRISE: 6:35 AM
SUNSET: 7:32 PM
MOONSET: 8:39 AM
MOONRISE: 10:49 PM
Former Sri Lanka Test player gets six-year ban for match-fixing
Sri Lanka's former Test cricketer and Bowling Coach Nuwan Zoysa was banned for six years on Wednesday by the International Cricket Council (ICC) for match-fixing during a T10 tournament in the United Arab Emirates.
The ban on the 42-year-old is backdated to October 2018 when he was suspended pending an investigation into his conduct at the inaugural Sharjah tournament in 2017.
“Contriving to fix a game betrays the basis of sporting principles,” the ICC's anti-corruption chief Alex Marshall said. “It will not be tolerated in our sport.
“In his role as a national coach, he should have acted as a role model. Instead, he became involved with a corrupter and attempted to corrupt others.”
There was no immediate comment from Zoysa, but he had expressed shock when the ICC initially announced in November that he had been found guilty.
“It is a fallacious and cheap gimmick by the ICC to perform such an act (of announcing guilt) intentionally to tarnish my reputation and the reputation of my beloved country,” Zoysa told reporters in Colombo at the time.
Source- BBC
Brazil passes 400,000 deaths due to Covid
It was heart wrenching for our news team yet again, to look at the dashboard as the numbers climbed higher by the hour.
The number of deaths related to Covid-19 has passed 400,000 now in Brazil, the second-highest in the world, as the country continues to struggle with its vaccination programme.
There were just around 3,001 deaths in 24 hours, after a peak of more than 4,000 was reached at the start of April.
The 14-day average of deaths and cases remains high but has seen a slight reduction.
Congress has opened an inquiry into the government's handling of the pandemic.
Meanwhile, President Jair Bolsonaro, who has frequently spoken out against lockdowns, masks and defended unproved drugs as treatment, is facing widespread criticism and his support has plummeted.
The outbreak has been fuelled by more transmissible variants of the virus and a lack of co-ordinated national measures. The situation has improved in many areas, including where the health system was on the brink of collapse, but they are already being eased.
Brazil recorded 100,000 deaths in just 37 days, between March and April, which were the worst months in the country. Only the US has a higher death toll.
Since the start of the pandemic, Brazil has had more than 14.5 million cases.
Source-BBC
UN improves Latin American growth forecast for 2021
The previous forecast of the UN Economic Commission for Latin America and the Caribbean (ECLAC), in December, had been for growth of 3.7 per cent in 2021.
In 2020, the region saw its economy contract 7.1 per cent as it was ravaged by the COVID-19 pandemic.
The updated growth projection, said ECLAC executive secretary Alicia Barcena, will not allow the region "to return to the level of (economic) activity before the pandemic".
Furthermore, the region's economic recovery depended on numerous "uncertainties," including access to vaccines and the shots' efficacy, which was "also not guaranteed," she said.
Hard-hit by the economic and social impacts of the pandemic, Latin America and the Caribbean risk a recovery that will be "asymmetrical, divergent, and lead to more disparities," said Barcena.
The region now has about 44 million unemployed people, a situation the ECLAC boss said was due to "old structural" problems.
Apple is rolling out a major privacy feature
Apple is rolling out a major privacy feature on Monday that will allow iOS users to decide how they want their personal data handled -- a move that has worried some companies, including Facebook.
iOS users must now give explicit permission for apps to track their behavior and sell their personal data, such as age, location, spending habits and health information, to advertisers. While many apps have allowed people to manage or opt-out of this for years, it's typically buried deep in user settings and wordy privacy policies.
The new App Tracking Transparency feature, now available as an iOS 14.5 software update, will usher in a wave of privacy awareness, especially as permission requests start coming in from apps people never thought were tracking them.
Developers are now required to ask users via a pop-up alert if they can "track your activity across other companies' apps and websites." People who opt-out will see fewer personalized ads. The app developer controls when the prompt appears. And once a user makes their choice, they can change their mind in the settings.
Although some data can help users map their runs, tag photos or track locations so a store nearby can offer up discounts, "some apps have more trackers embedded in them than they need," Apple said in a video posted to YouTube on Monday. "They collect thousands of pieces of information about you to create a digital profile that they sell to others. These third parties use your profile to target you with ads, and they can also use it to predict and influence your behaviors and decisions."
"This has been happening without your knowledge or permission. Your information is for sale. You have become the product," Apple said in the video.
Apple's effort has roiled some businesses that rely on data tracking to target users with personalized advertising. Facebook (FB), which makes almost all of its revenue from advertising, warned investors in August that Apple's software changes could hurt its business if people start opting-out of tracking.
UK sees budget deficit rise to highest rate since 1946
Britain has seen its budget deficit rise during the novel coronavirus pandemic to its highest level since the year after the end of World War II, official figures showed last Friday.
The Office for National Statistics said public sector net borrowing — the official gauge of the difference between the Government's spending and taxes — reached £303.1 billion (US$420 billion) in the financial year to end March. This was equivalent to 14.5 per cent of the country's annual gross domestic product (GDP), the highest level since 1946, when the deficit hit 15.2 per cent of GDP.
The causes of the spike are simple. While tax receipts have ebbed as a result of the deepest recession in more than 300 years, the Government has splashed out billions of pounds trying to prop up the economy and jobs since the pandemic first struck more than a year ago. Notably, it has been covering the lion's share of the salaries of people unable to work during the country's many lockdowns and providing further support to hard-hit businesses.
The scale of the borrowing the Government has undertaken in the wake of the pandemic is evident in the size of the increase in the deficit from £57 billion in the previous financial year.
“The increase on the pre-pandemic forecast is unprecedented and highlights the extraordinary impact of the pandemic on Government revenues and spending,” said Isabel Stockton, research economist at the well-respected Institute for Fiscal Studies.
Stockton thinks the actual deficit will end up being higher, “perhaps quite significantly”, as many businesses won't be able to repay Government-backed loans.
In the post-war era the deficit peaked in the aftermath of the 2008 financial crisis, hitting around 10 per cent of GDP. The average deficit since 1970 has been 3.4 per cent of GDP.
The borrowing undertaken by the Government has pushed public sector net debt up to £2,142 billion, which is 97.7 per cent of Britain's GDP. This is the highest proportion since the early 1960s.
Because interest rates are low historically, the Government doesn't have much of a problem managing its debt, but economists worry that higher borrowing rates in coming years may create problems in the future.
The Government is hoping that the economy, which shrank by nearly 10 per cent during 2020, will recover strongly through the spring and summer as lockdown restrictions are eased in the wake of the sharp fall in coronavirus cases, and amid the rapid roll-out of vaccines.
Source-AP
Premier David Burt presents roadmap to reopening Bermuda
Speaking during last evening's National Address, Premier of Bermuda Hon. David Burt said, “Following the 7 day Stay at Home Order, this past Tuesday we commenced Phase 1 of 3 on our Roadmap to Reopening. This current phase, when combined with 7 day stay at home order, will be for a total of four weeks.
“If the data allows, it is envisioned Phase 2 can commence on Sunday May 9th, Mother’s Day. Phase 2 will see the end of restrictions on household mixing, as well as reopening of schools, leisure facilities, churches, gyms, outdoor dining and limited personal care services.
Due to our desire to eliminate local transmission, there will be continued restrictions on activities, gathering sizes and a curfew will remain in place during this time. The Government will continue to provide financial support to businesses and individuals who are directly affected by the restrictions.
“Provided that we are successful in continuing to reduce local transmission, and all of the data metrics allow, after four weeks in Phase 2 we would be able to progress to Phase 3 on June 6th.
“This will permit the reopening of all other businesses which were not opened in the previous phase. A determination on the need to continue the curfew and other restrictions such as gathering sizes will be based on the data at that time.
“June 6th will also be the date that the 14 day supervised quarantine for all non-immunised travellers comes into place. If all goes well following the commencement of Phase 3, and we are successful in eliminating local case transmission through compliance with restrictions and increased vaccinations, the Public Health emergency will be allowed to expire on June 24.
Source-Bern
82 dead after 'oxygen tank explodes'
At least 82 people have been killed in a fire at a hospital treating coronavirus patients in the capital of Iraq, Baghdad.
More than 100 others were injured in the blaze, which erupted at the Ibn Khatib hospital on Saturday night.
Reports say an accident had caused an oxygen tank to explode, sparking the blaze.
Videos on social media show firefighters scrambling to extinguish the flames as people flee the building.
Iraq's Prime Minister Mustafa al-Kadhimi on Sunday suspended the health minister and ordered an investigation into the tragedy.
The head of Iraq's Civil Defence, Gen Kadhim Bohan, said the fire had broken out in the hospital's intensive-care unit, on a floor "designated for pulmonary resuscitation". About "30 patients were in the intensive care unit", which was reserved for the most severe cases of Covid-19 in Baghdad, a hospital source told the AFP news agency.
The fire was under control by the early hours of Sunday morning, Iraq's Civil Defence said.
In a statement, the government's human rights commission said the incident was "a crime against patients exhausted by Covid-19".
Emergency service officials said many patients died when they were taken off oxygen machines to be evacuated, while others were suffocated by smoke.
Source-BBC