World Bank chief sounds alarm over job automation
The world is on a "crash course" as people's hopes collide with a future in which millions of jobs are automated, the World Bank chief has said.
Jim Yong Kim said policymakers should take action by investing in education and health.
The World Bank president was speaking in New York ahead of the group's annual meeting in Washington DC this week.
The remarks come amid wider concerns about political threats to economic growth.
The World Bank plans to publish a ranking of countries that measures investments in "human capital", such as education.
The focus is a shift for the organisation, which was established after World War Two to spur infrastructure reconstruction.
But Dr Kim said other kinds of investments are important to economic growth in the future, as robots displace millions of low-skill workers.
"The one thing you know for sure that you'll need in whatever the economy looks like in the future is people who can learn," he told the BBC.
"We want to create a sense of urgency to invest in people that we think is necessary given the way ... the global economy is changing."
The push for education and health investments comes as outlooks for economic growth improve.
In July the IMF said it expected the global economy to expand by 3.5% this year and by 3.6% in 2018.
IMF managing director Christine Lagarde said updated forecasts, to be released this week, were likely to be even more optimistic.
However, bankers from the IMF, World Bank and other organisations have warned that the progress is threatened by political movements that favour trade barriers, isolation, military aggression and other measures.
"If your aspirations start to rise but then there's no opportunity it can lead to fragility, conflict, violence," Dr Kim said. "This is the crash course we're going down."
Political uncertainties are increasingly behind many of the risks identified by sovereign debt analysts, said Moritz Kraemer, managing director of S&P Global Ratings, which tracks economic and political movements in dozens of countries to devise credit ratings.
The subject was also the topic of a speech by European Central Bank president Mario Draghi earlier this year.
Ms Lagarde said this month that policymakers "should not let a good recovery go to waste".
"We know what can happen if we let the moment pass," she said. "Growth will be too weak, and jobs too few. Safety nets will be unable to handle aging populations. Our financial system will be unprepared for future shocks."
Source-BBC
Deadly wildfires sweep through California
Parts of California's wine region are being ravaged by fast-spreading fires that have killed at least 10 people.
Mass evacuations have taken place and at least 1,500 properties have been destroyed. Seven people were killed in Sonoma county, authorities said.
About 20,000 people fled from Napa, Sonoma and Yuba counties after some of the state's worst-ever wildfires broke out.
The governor of California has declared an emergency."These fires have destroyed structures and continue to threaten thousands of homes, necessitating the evacuation of thousands of residents," the declaration said.
Along with the deaths in Sonoma county, two people were killed in Napa county and one in Mendocino county when thousands of acres burned in one valley.
Further injuries have been reported and some people are said to be missing.
The head of California's Department of Forestry and Fire Protection, Kim Pimlott, said that about 1,500 buildings had already been destroyed.
The fires are particularly fast-spreading because of the combination of high winds, low humidity and hot, dry weather.
The National Weather Service has issued a warning for the San Francisco area that "any fires that develop will likely spread rapidly".
UPDATE ON REOPENING OF LONG BAY HIGH, CLEMENT HOWELL HIGH AND ENID CAPRON PRIMARY
The Ministry of Education appreciates the understanding that parents and the general public demonstrated over the past few weeks as we worked out the logistics for the resumption of school since the passage of hurricanes Irma and Maria. As previously mentioned, our priority was to get the senior students at both the primary and high school levels back to school as quickly as possible.
While this is so, the Ministry is keen to ensure that students resume classes in conditions that are safe and healthy - free from mold and other hazards. To this end, the Ministry of Education has partnered with the Public Works Department and the Environmental Health Department and we are pleased to announce the reopening of the following schools and for the following students with effect from, Tuesday, 10th October 2017:
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School |
Island/location |
Forms or Grades |
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Long Bay High |
Providenciales |
Forms 1 and 2 |
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Clement Howell High |
Providenciales |
Forms 4 and 5 |
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Enid Capron Primary |
Providenciales |
Grades 4, 5 and 6 |
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|
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Ianthe Pratt Primary |
Providenciales |
Grades 4 and 5 to join Grade 6 |
The Public is hereby reminded of the reopening of the following schools:
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School |
Island/location |
Forms or Grades |
|
H. J. Robinson High |
Grand Turk |
Forms 1 to 5 |
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Ona Glinton Primary |
Grand Turk |
Infant 1 to Grade 6 |
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Eliza Simons Primary
|
Grand Turk |
Infant 1 to Grade 6 at the Ona Glinton Primary |
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|
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Oseta Jolly Primary |
Providenciales |
Grades 4 to 6 at the Gustavus Lightbourne Sports Complex Grades 2 and 3 at the Edward Gartland Youth Centre |
The Ministry of Education commits to continue updating you via further announcements in the coming days, as we work together to return our students to a state of normalcy.
Theresa May: 'We can prove Brexit doomsayers wrong'
Theresa May will tell parliament later that the UK can "prove the doomsayers wrong" when it comes to Brexit.
The prime minister will say "progress will not always be smooth", but add that she wants the best possible deal for both the UK and the EU.
Her comments come as the fifth round of negotiations begin in Brussels later.
It is the final set of talks before EU leaders meet to decide if enough progress has been made to talk about post-Brexit relations with the UK.
In her first address to parliament since she outlined her plans in Florence, Mrs May will describe the government's ambition for a "new, deep and special partnership between a sovereign United Kingdom and a strong and successful European Union."
"Achieving that partnership will require leadership and flexibility, not just from us but from our friends, the 27 nations of the EU.
"And as we look forward to the next stage, the ball is in their court. But I am optimistic we will receive a positive response."
The PM will reiterate the need for a "spirit of friendship and co-operation" in the talks, but say: "I believe we can seize the opportunities of this defining moment in the history of our nation."
The talks between UK negotiators and Brussels officials will be lower profile this week, with neither David Davis or his EU counterpart Michel Barnier attending the start.
However, it will be the last time the two sides are scheduled to meet before an EU summit on 19 October.
European Commission president Jean-Claude Juncker has said it will take miracles for the necessary progress to have been met before the summit, whilst the European Parliament made its voice heard with a non-binding motion saying that more needed to be done.
Around Brussels there is cautious optimism that agreement can be reached on how British judges might interact with the European Court of Justice and how the deal will be implemented.
Chatter concerns whether the final arrangement on citizens' rights can be accorded a status in the UK similar to the European Communities Act, which gave EU rules supremacy over British law - a legal concept called "direct effect."
However, progress on a means of calculating the UK's financial obligations - the "Brexit Bill" - seems much less likely.
The UK will continue to challenge the demands made by EU chief negotiator Michel Barnier.
But the EU side is disappointed that specific British negotiating positions have not emerged after Theresa May's warm words in Florence a fortnight ago.
After her speech in the House of Commons, Mrs May will meet with leading industry figures to try and reassure them about the Brexit process.
Source_BBC
Asphalt helps batteries charge more quickly
Lithium batteries can be made to charge 10 to 20 times faster by using asphalt, suggests US research.
Scientists at Rice University speeded up the charging time by making one component of a battery using carbon derived from the viscous liquid.
In tests, batteries made using asphalt charged to full power in minutes, said the researchers.
They also found that using asphalt stopped the formation of deposits that can shorten the life of a battery.
"The capacity of these batteries is enormous," said Prof James Tour, who heads the lab that developed the batteries.
"What is equally remarkable is that we can bring them from zero charge to full charge in five minutes, rather than the typical two hours or more needed with other batteries," he added.
To make their batteries, the Rice team used carbon derived from asphalt that was mixed with graphene nanoribbons and then coated with lithium metal.
Prof Tour said the manufacturing process behind this new approach was simpler than earlier techniques it had developed for making fast-charging batteries.
The Rice team has put prototype batteries through hundreds of cycles of charging and discharging to ensure the technology is stable.
This testing also revealed that the batteries were less likely to suffer the build-up of structures called "lithium dendrites" that can gradually spread through a device limiting its life.
Details of the research were revealed in the scientific journal ACS Nano.
The Rice group is just one of many developing faster-charging technologies.
Source-BBC
Netflix raises prices for first time in two years
Netflix has raised prices in countries including the UK and US for the first time in two years.
The streaming video service will also increase subscription charges in some European countries, a spokeswoman said.
A standard UK plan will rise 50p to £7.99 a month, while a premium subscription for four simultaneous users jumps £1 to £9.99 a month.
The standard US plan increases by $1 to $10.99 a month, with a $2 rise to $13.99 for the premium option.
A basic subscription in the UK, which does not offer high definition viewing, remains at £5.99 a month.
The increases apply immediately for new customers, while existing users will be notified of the change 30 days in advance.
Germany and France are among the other countries where prices will rise. Subscriptions were tweaked in Canada, Latin America and some Nordic countries earlier this year.
Netflix said in July it has 104 million subscribers globally, while revenues rose 32% in the second quarter to $2.8bn.
Shares in Netflix closed 5.4% in New York, bringing the stock's gain this year to 56%.
The price rises come as Netflix faces growing competition from Amazon and other sites such as Hulu in the US.
Source-BBC
GM, Ford, Toyota lead rebound in U.S. auto sales
Ford and GM pickups, a hot Toyota SUV and Nissan's popular crossovers helped recharge U.S. auto sales in September.
The auto industry rebounded as several automakers posted significant sales gains, potentially positioning the industry for a strong end to the year after several months of year-over-year monthly declines.
Overall, U.S. auto sales rose 6.1%, compared with a year earlier, to 1.52 million vehicles, according to Autodata.
The three largest sellers in the U.S. — General Motors, Ford and Toyota — posted particularly strong months.
Their sales rose 11.8%,14.9% and 8.9%, respectively.
GM and Ford got a big boost from sales to fleet customers, but retail sales were strong, as well.
The gains come after a prolonged period of year-over-year declines, as auto sales cooled off from consecutive years of industry records in 2015 and 2016.
Despite the solid month, the industry likely will fall short of the full-year record of 17.55 million vehicles.
Sales of profitable pickups, sport-utility vehicles and crossovers remain strong, while passenger car sales continue to struggle.
“The auto industry showed renewed strength in September," Jack Hollis, group vice president and general manager of the Toyota division, said in a statement.
The company's popular RAV4 SUV continued its hot streak, jumping 44% to 42,395, making it the automaker's most popular vehicle by more than 7,600 units.
Japanese automaker Nissan notched a 9.5% increase to 139,932 vehicles in September, reflecting a company record for the month.
Nissan's extremely popular Rogue crossover, its most popular model, jumped 47% to 38,969 vehicles.
For Ford and GM, pickup sales led the way.
The Ford F-series pickup, the most popular vehicle in the U.S., soared 21.4% to 82,302 units.
GM's Chevrolet Silverado rose 21.7% to 55,236 vehicles, lifting Chevrolet to a 17.2% increase.
Italian-American automaker Fiat Chrysler recorded a 10.1% sales decline for the month.
Fiat Chrysler has been aggressively slashing its reliance upon sales to less-profitable fleet customers. Retail sales rose 0.3% and fleet sales declined 41%.
U.S. sales of German automaker Volkswagen's namesake brand jumped 33.2%, and the company's luxury Audi brand rose 9.6%.
Japanese automaker Honda posted a 6.8% increase to 142,722 units.
Source- USA Today
Nadal wins sixth title of the season
World number one Rafael Nadal beat Nick Kyrgios 6-2 6-1 in the China Open final to win his sixth title of the season.
Australian Kyrgios began well but lost his way after he became frustrated by a line call in the first set in Beijing.
The temperamental world number 19 continued to let the incident bother him and later received a one-point penalty for continuing to complain.
French and US Open winner Nadal won nine games in a row on his way to reclaiming the trophy he won in 2005.
The two players looked set for a tight contest as Kyrgios battled to fend off five break points in his opening service game.
But having been angered by a line call, the Australian proceeded to complain to the umpire at two changes of end, which eventually cost him a penalty point at the start of the eighth game.
Spaniard Nadal clinched his second break to take the first set, and despite a spirited response from Kyrgios, there was no stopping the 31-year-old.
Source-BBC
North Korea's Leader Calls Nuclear Weapons Program a 'Treasured Sword'
North Korean leader Kim Jong Un is defiantly calling his country's nuclear weapons program a "treasured sword" to protect it against aggression, even as U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe continue to pressure his regime.
Pyongyang's state media reported that Kim on Saturday told the powerful Central Committee of the ruling Workers' Party the nuclear weapons were a "powerful deterrent" guaranteeing the country's sovereignty against what he described as "protracted nuclear threats of the U.S. imperialists."
But he acknowledged that North Korea's standoff with the United States, Japan, South Korea and other countries over its nuclear weapons development was a "complicated international situation."
Kim vowed to continue developing the country's economy as it advanced North Korea's weapons program in the face of stiffened United Nations sanctions aimed at curbing Pyongyang's export income. He said North Korea faces "ordeals" under a "stern" situation, but claimed its economy has grown.
Kim tightened his family's firm grip on the government, promoting his sister, Kim Yo Jong, to be an alternate member of the politburo, the top decision-making body over which Kim Jong Un presides.
Kim's support for North Korea's nuclear weapons program came as Trump said Saturday that "only one thing will work" in dealing with North Korea after previous U.S. administrations had negotiated with Pyongyang without results.
"Presidents and their administrations have been talking to North Korea for 25 years, agreements made and massive amounts of money paid," Trump said in a Twitter comment. "Hasn't worked, agreements violated before the ink was dry, making fools of U.S. negotiators. Sorry, but only one thing will work!"
It was not clear exactly what Trump meant, but seemed to suggest that he was referring to military action. Trump has engaged in weeks of taunts with Kim, saying the United States would "totally destroy" North Korea if necessary to protect itself and its allies if Pyongyang attacks. North Korea has conducted numerous missile and nuclear tests.
Source-VOA
Venezuela Leader Thanks Trump for Making Him 'Famous'
Venezuelan President Nicolas Maduro baited U.S. President Donald Trump on Sunday by thanking him for a barrage of criticism that had made him famous worldwide.
"It's an honor that the head of the empire mentions me every day," said the 54-year-old president, who is just back in Venezuela from a trip to Russia, Belarus and Turkey.
"That means I'm doing something right!" Maduro laughed, during his weekly program on state TV.
The U.S. government, saying Venezuela has become a corrupt and repressive dictatorship, has widened individual sanctions on top officials including Maduro and also prohibited new debt dealings with Caracas.
Businessman-turned-president Trump has repeatedly criticized Maduro and his Socialist Party in public and at meetings with other heads of state.
"Donald Trump has become the head of the Venezuelan opposition," said Maduro, who has ruled the OPEC member since 2013 but seen his popularity plummet during an economic crisis.
"He has made me famous around the world. Every time he mentions me, they love me more," Maduro added, saying he had been acclaimed by people abroad on his visit to nations who have all had frayed relations with Washington.
Maduro said he had a one-and-half-hour meeting with Russian President Vladimir Putin where, among other subjects, he discussed the possibility of trading Venezuelan oil in rubles because of the U.S. financial sanctions.
Source-VOA