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Coinbase studies estimated Q1 income of $1.eight billion, up nine-fold

In preparation for its debut on Nasdaq next week, the cryptocurrency exchange Coinbase announced on Tuesday that sales in the first quarter had increased nine-fold over the previous year, due to a historic price increase for Bitcoin.

Revenue in the reporting period rose from $ 190.6 million in the year-ago quarter to around $ 1.8 billion, Coinbase said in a press release. The results are preliminary and unchecked. Net income increased from $ 31.9 million a year ago to $ 730 million to $ 800 million. Coinbase has 56 million verified users.

Coinbase is poised to become the latest tech company to hit the market with a massive valuation, capitalizing on the continued growth of the sector despite general economic troubles due to the coronavirus pandemic. Trading in the private market valued the company at $ 68 billion, a number that climbs to about $ 100 billion considering a fully diluted stock count.

In the past seven months, the software provider Snowflake, the food delivery app DoorDash, the room sharing website Airbnb and the games platform Roblox went public. Their market capitalization is currently between $ 40 billion and $ 113 billion.

Coinbase is unique in that its rating upgrade reflects the trajectory of the top cryptocurrencies. Bitcoin is up about 700% over the past year, while Ethereum is up more than 1,100%.

Bitcoin and Ethereum last year

CNBC

Coinbase announced last week that the SEC approved the direct listing, which is scheduled for April 14th. The company has announced that it will register nearly 115 million Class A common shares trading under the ticker symbol COIN. In the case of direct listing, the issuing company waives the sale of new shares and instead allows existing stakeholders to sell their shares to new investors.

While Coinbase today relies heavily on attracting users who store and trade the two major cryptocurrencies, the company is betting on developing a larger ecosystem of crypto-related assets in the years to come.

“We expect significant growth in 2021, driven by transaction and custody revenues, as institutional interest in the crypto asset class has increased,” the company said in the press release.

In the first quarter, Coinbase said it had 6.1 million monthly transaction users (MTUs). Looking at the year as a whole, three possible scenarios for revenue are identified, as much of the business comes from these transactions.

Rising market values ​​could result in MTUs of 7 million, Coinbase’s most aggressive estimate. In the middle range, MTUs would land at 5.5 million in a flat crypto market. And the most conservative forecast in the event of a price drop is 4 million MTUs.

– MacKenzie Sigalos from CNBC contributed to this report.

SEE: Basketball, Bitcoin, and the big ketchup shortage of 2021

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Covid-19 Reside Updates: Vaccines, Instances and Variants

Here’s what you need to know:

Credit…Lynne Sladky/Associated Press

President Biden plans to announce on Tuesday that he is speeding up the deadline for states to make all adults eligible for a coronavirus vaccine — to April 19 — according to an administration official familiar with his planned remarks.

The announcement will come as nearly every U.S. state has already heeded earlier calls by the president to accelerate their timelines for when all adult residents will be eligible to be vaccinated — the vast majority now meeting or beating the April 19 target. On Tuesday, Oregon said those who are 16 or older will be eligible for vaccination on April 19.

Mr. Biden’s newest target comes almost a month after he set an original deadline of May 1 for every state, and a week after he said that by April 19, 90 percent of adults would be eligible for a shot and within five miles of a site.

A White House official said last week that Mr. Biden revised the timeline because states, encouraged by increases in shipments, were ramping up their vaccination programs more rapidly than expected.

Mr. Biden on Tuesday plans to visit a vaccination site at Virginia Theological Seminary in Alexandria, Va., then deliver a speech at the White House on the state of vaccinations across the nation.

The U.S. vaccination campaign has steadily picked up pace: More than three million doses are being given on average each day, compared with well under one million when Mr. Biden took office in January, according to the Centers for Disease Control and Prevention. Every state has now given at least one dose to a quarter or more of its population. About 62.4 million people — 19 percent of Americans — have been fully vaccinated.

Mr. Biden has said he hopes for 200 million doses to be administered by his 100th day in office, a goal that the nation is on pace to meet. The federal government has delivered about a total of 207.9 million doses to states, territories and federal agencies since last year.

The recent burst in supply has prompted governors to move up eligibility timelines on their own weeks ahead of Mr. Biden’s original May 1 marker.

“Today, we are pleased to announce another acceleration of the vaccine eligibility phases to earlier than anticipated,” Gov. Larry Hogan of Maryland said on Monday, announcing that all Maryland residents 16 or older would be eligible from Tuesday for a vaccine at the state’s mass vaccination sites, and from April 19 at any vaccine provider in the state.

Also on Monday, Gov. Philip D. Murphy of New Jersey said residents 16 or older in his state would be eligible on April 19. Mayor Muriel Bowser of Washington said later on Monday that city residents 16 or older would also be eligible on April 19.

Public health experts have said that the vaccines are in a race against worrisome coronavirus variants that were identified in Britain, South Africa and Brazil. New mutations have continued to pop up in the United States, from California to New York to Oregon.

The shots will eventually win, scientists say, but because each infection gives the coronavirus a chance to evolve further, vaccinations must proceed as fast as possible.

As that race continues, the optimism sown by the steady pace of vaccinations may be threatening to undermine the progress the nation has made. Scientists also fear Americans could let their guard down too soon as warmer weather draws them outside and case levels drop far below the devastating surge this winter.

Cases are now rising sharply in parts of the country, with some states offering a stark reminder that the pandemic is far from over: New cases in Michigan have increased 112 percent and hospitalizations have increased 108 percent over the past two weeks, according to a New York Times database.

The United States is averaging more than 64,000 new cases each day, an 18 percent increase from two weeks earlier. That’s well below the peak of more than 250,000 new cases daily in January, but on par with last summer’s surge after reopenings in some states, like Arizona, where patrons packed into clubs as hospital beds filled up. The United States is averaging more than 800 Covid-19 deaths each day, the lowest level since November.

United States › United StatesOn April 5 14-day change
New cases 76,594 +20%
New deaths 530 –24%
World › WorldOn April 5 14-day change
New cases 505,121 +20%
New deaths 7,565 +11%

U.S. vaccinations ›

Where states are reporting vaccines given

Several businesses in China are offering incentives for those getting inoculated, including this Lego stall outside a vaccination center in Beijing.Credit…Gilles Sabrié for The New York Times

In Beijing, the vaccinated qualify for buy-one-get-one-free ice cream cones. In the northern province of Gansu, a county government published a 20-stanza poem extolling the virtues of the jab. In the southern town of Wancheng, officials warned parents that if they refused to get vaccinated, their children’s schooling and future employment and housing were all at risk.

China is deploying a medley of tactics, some tantalizing and some threatening, to achieve mass vaccination on a staggering scale: a goal of 560 million people, or 40 percent of its population, by the end of June.

China has already proven how effectively it can mobilize against the coronavirus. And other countries have achieved widespread vaccination, albeit in much smaller populations.

But China faces a number of challenges. The country’s near-total control over the coronavirus has left many residents feeling little urgency to get vaccinated. Some are wary of China’s history of vaccine-related scandals, a fear that the lack of transparency around Chinese coronavirus vaccines has done little to assuage. Then there is the sheer size of the population to be inoculated.

To get it done, the government has turned to a familiar tool kit: a sprawling, quickly mobilized bureaucracy and its sometimes heavy-handed approach. This top-down, all-out response helped tame the virus early on, and now the authorities hope to replicate that success with vaccinations.

Already, uptake has skyrocketed. Over the past week, China has administered an average of about 4.8 million doses a day, up from about one million a day for much of last month. Experts have said they hope to reach 10 million a day to meet the June goal.

“They say it’s voluntary, but if you don’t get the vaccine, they’ll just keep calling you,” said Annie Chen, a university student in Beijing who received two such entreaties from a school counselor in about a week.

Millions of people have received the AstraZeneca vaccine without safety problems, but reports of rare blood clots have raised concerns.Credit…Alessandro Grassani for The New York Times

A top vaccines official at the European Medicines Agency said on Tuesday that AstraZeneca’s vaccine was linked to blood clots in a small number of recipients, the first indication from a leading regulatory body that the clots may be a real, if extremely rare, side effect of the shot.

The agency itself has not formally changed its guidance, issued last week, that the benefits of the AstraZeneca vaccine outweigh the risks. It said on Tuesday that its review was ongoing and that it would announce its findings this week. But any further ruling from regulators would be a setback for a shot that Europe and much of the world are relying on to save lives amid a global surge in coronavirus cases.

The medicines agency said last week that no causal link between the vaccine and rare blood clots had been proven. Only a few dozen cases of blood clots have been recorded among the many millions of people who have received the vaccine across Europe.

But the vaccines official, Marco Cavaleri, told an Italian newspaper that “it is clear there is an association with the vaccine.” He said that it would likely remain up to individual countries to decide how to respond, given the variation in supply of Covid-19 vaccines and in the state of the virus.

Those comments represented the first indication from a member of a leading regulatory body that the blood clots could be a genuine, if extremely rare, side effect of the AstraZeneca vaccine. Previously, health officials in several European countries temporarily restricted the use of the shot in certain age groups, despite the European Medicines Agency’s recommendation to keep administering it.

Regulators in Britain and at the World Health Organization have also said that, while they were investigating any rare side effects, the shot was safe to use and would save many lives.

Mr. Cavaleri told the Italian newspaper Il Messaggero that European regulators had not determined why the vaccine might be causing the rare blood clots, which generated concern because the cases were so unusual. They involved blood clots combined with unusually low levels of platelets, a disorder that can lead to heavy bleeding.

The most worrisome of the conditions, known as cerebral venous sinus thrombosis, involves clots in the veins that drain blood from the brain, a condition that can lead to a rare type of stroke.

The clots are, by all accounts, extremely rare. European regulators were analyzing 44 cases of cerebral venous sinus thrombosis, 14 of them fatal, among 9.2 million people who received the AstraZeneca vaccine across the continent. Emer Cooke, the European Medicines Agency’s director, said that the clotting cases in younger people translated to a risk for one in every 100,000 people under 60 given the vaccine. Younger people, and especially younger women, are at higher risk from the brain clots, scientists have said.

In Britain, regulators last week reported 30 cases of the rare blood clots combined with low platelets among 18 million people given the AstraZeneca vaccine, which was developed with the University of Oxford. No such cases were reported in people who had received the Pfizer-BioNTech vaccine in Britain.

Regulators in Britain have said that people should get the vaccine “when invited to do so.” But British news reports indicated Monday night that regulators were considering updating that guidance for certain age groups.

Monika Pronczuk and Emma Bubola contributed reporting.

The North Koreans at the closing ceremony for the 2018 Winter Games in Pyeongchang, South Korea.Credit…Edgar Su/Reuters

North Korea said on Tuesday that it had decided not to participate in the Tokyo Olympic Games this summer because of the coronavirus pandemic.

The North’s national Olympic Committee decided at a March 25 meeting that its delegation would skip the Olympics “in order to protect our athletes from the global health crisis caused by the malicious virus infection,” according to Sports in the Democratic People’s Republic of Korea, a government-run website.

It is the first Summer Olympics that the North has missed since 1988, when they were held in Seoul, the South Korean capital.

North Korea, which has a decrepit public health system, has taken stringent measures against the virus since early last year, including shutting its borders. The country officially maintains that it has no virus cases, but outside health experts are skeptical.

North Korea’s decision deprives South Korea and other nations of a rare opportunity to establish official contact with the isolated country. Officials in the South had hoped that the Olympics — to be held from July 23 to Aug. 8 — might provide a venue for senior delegates from both Koreas to discuss issues beyond sports.

The 2018 Winter Olympics, held in the South Korean city of Pyeongchang, offered similar hope for easing tensions on the Korean Peninsula. Kim Yo-jong, the only sister of North Korea’s leader, Kim Jong-un, grabbed global attention when she attended the opening ceremony, becoming the first member of the Kim family to cross the border into South Korea.

Mr. Kim used the North’s participation in the Pyeongchang Olympics as a signal to start diplomacy after a series of nuclear and long-range missile tests. Inter-Korean dialogue soon followed, leading to three summit meetings between Mr. Kim and President Moon Jae-in of South Korea. Mr. Kim also met three times with President Donald J. Trump.

But since the collapse of Mr. Kim’s diplomacy with Mr. Trump in 2019, North Korea has shunned official contact with South Korea or the United States. The pandemic has deepened the North’s diplomatic isolation and economic difficulties amid concerns over its nuclear ambitions. North Korea launched two ballistic missiles on March 25 in its first such test in a year, in a challenge to President Biden.

Since North Korea’s first Olympic appearance in 1972, it has participated in every Summer Games except for the Los Angeles event in 1984, when it joined a Soviet-led boycott, and in 1988, when South Korea played host. North Korean athletes have won 16 gold medals, mostly in weight lifting, wrestling, gymnastics, boxing and judo, consistently citing the ruling Kim family as inspiration.

The Tokyo Games were originally scheduled for 2020 but were delayed by a year because of the pandemic. The organizing committee has been scrambling to develop safety protocols to protect both participants and local residents. But as a series of health, economic and political challenges have arisen, large majorities in Japan now say in polls that the Games should not be held this summer.

Even though organizers have barred international spectators, epidemiologists warn the Olympics could still become a superspreader event. Thousands of athletes and other participants will descend on Tokyo from more than 200 countries while much of the Japanese public remains unvaccinated.

The Australia-New Zealand travel bubble is expected to deliver a boost to tourism and to families that have been separated by strict border closures.Credit…Matthew Abbott for The New York Times

Prime Minister Jacinda Ardern of New Zealand announced on Tuesday that her nation would establish a travel bubble with Australia, allowing travelers to move between the countries without needing to quarantine for the first time since the pandemic began.

The bubble, which will open just before midnight on April 19, is expected to deliver a boost to tourism and to families that have been separated since both countries enacted strict border closures and lockdown measures that have all but eliminated local transmission of the coronavirus.

The announcement came after months of negotiations and setbacks, as Australia battled small outbreaks and officials in both countries weighed testing requirements and other safety protocols.

“The director general of health considers the risk of transmission of Covid-19 from Australia to New Zealand is low and that quarantine-free travel is safe to commence,” Ms. Ardern said at a news conference.

Since last year, Australia has permitted travelers from New Zealand to bypass its hotel quarantine requirements. New Zealand’s decision to reciprocate makes the two countries among the first places in the world to set up such a bubble, following a similar announcement last week by Taiwan and the Pacific island nation of Palau.

Australians flying to New Zealand will be required to have spent the previous 14 days in Australia, to wear a mask on the plane and, if possible, to use New Zealand’s Covid-19 contact tracing app. In the event of an outbreak in Australia, New Zealand could impose additional restrictions, including shutting down travel to a particular Australian state or imposing quarantine requirements, Ms. Ardern said.

She warned that the new requirements would not necessarily free up many spaces in New Zealand’s overwhelmed hotel quarantine system, which has a weekslong backlog for New Zealanders wishing to book a space to return home. Of the roughly 1,000 slots that would now become available every two weeks, around half would be set aside as a contingency measure, while most of the others would not be appropriate for travelers from higher-risk countries, Ms. Ardern said.

Before New Zealand closed its borders to international visitors in March 2020, its tourism industry employed nearly 230,000 people and contributed 41.9 billion New Zealand dollars ($30.2 billion) to economic output, according to the country’s tourism board. Most of the roughly 3.8 million foreign tourists who visited New Zealand over a 12-month period between 2018 and 2019 came from Australia.

Ms. Ardern encouraged Australians to visit New Zealand’s ski areas, and said she would be conducting interviews with Australian media outlets this week to promote New Zealand as a tourism destination.

The bubble would also make it easier for the more than 500,000 New Zealanders who live in Australia to visit their families.

“It is ultimately a change of scene that so many have been looking for,” Ms. Ardern said, addressing Australians. “You may not have been in long periods of lockdown, but you haven’t had the option. Now you have the option, come and see us.”

Fans filled the seats on Monday for the Texas Rangers opening day game in Arlington, Texas, against the Toronto Blue Jays.Credit…Tom Pennington/Getty Images

There was no need to pipe in crowd noise at Globe Life Field on Monday, as the Texas Rangers hosted the Toronto Blue Jays in front of the largest crowd at a sporting event in the United States in more than a year.

From the long lines of fans waiting to get into the stadium to the persistent buzz of the spectators during quiet moments, the game in Arlington, Texas, was a throwback to a time before the coronavirus crippled the country.

“It felt like a real game,” Rangers Manager Chris Woodward said. “It felt like back to the old days when we had full capacity.”

The official crowd of 38,238 fans, which was announced as a sellout, represented 94.8 percent of the stadium’s 40,300-seat capacity. It topped the Daytona 500 (which allowed slightly more than 30,000 fans) and the Super Bowl (24,835), both of which were held in February, as the largest crowd at a U.S. sporting event since the pandemic began last year.

The lifting of capacity restrictions in Texas made the enormous crowd possible. And for Major League Baseball, which claims its teams collectively lost billions during a largely fanless 2020 season, it was a hopeful sign that large crowds can return to all of the league’s games before too long. The open question is whether such events can be safe as the pandemic continues.

M.L.B. requires all fans over age 2 to wear masks at games this season, but a large percentage of the fans in Arlington went maskless. That will undoubtedly raise fears of the event resulting in a spike in coronavirus cases.

A garment worker in Cambodia signaled support for a campaign demanding relief for garment workers who have lost jobs and reform of the apparel industry, including a severance guarantee fund.Credit…Enric Catala/Wsm

Garment workers in factories producing clothes and shoes for companies like Nike, Walmart and Benetton have seen their jobs disappear in the past 12 months, as major brands in the United States and Europe canceled or refused to pay for orders after the pandemic took hold and suppliers resorted to mass layoffs or closures.

Most garment workers earn chronically low wages, and few have any savings. Which means the only thing standing between them and dire poverty are legally mandated severance benefits that are often owed upon termination, wherever the workers are in the world.

According to a new report from the Worker Rights Consortium, however, garment workers are being denied some or all of these wages.

The study identified 31 export garment factories in nine countries where, the authors concluded, a total of 37,637 workers who were laid off did not receive the full severance pay they legally earned, a collective $39.8 million.

According to Scott Nova, the group’s executive director, the report covers only about 10 percent of global garment factory closures with mass layoffs in the last year. The group is investigating an additional 210 factories in 18 countries, leading the authors to estimate that the final data set will detail 213 factories with severance pay violations affecting more than 160,000 workers owed $171.5 million.

“Severance wage theft has been a longstanding problem in the garment industry, but the scope has dramatically increased in the last year,” Mr. Nova said. He added that the figures were likely to rise as economic aftershocks related to the pandemic continued to unfold across the retail industry. He believes the lost earnings could total between $500 million and $850 million.

The report’s authors say the only realistic solution to the crisis would be the creation of a so-called severance guarantee fund. The initiative, devised in conjunction with 220 unions and other labor rights organizations, would be financed by mandatory payments from signatory brands that could then be leveraged in cases of large-scale nonpayment of severance by a factory or supplier.

Several household names implicated in the report made money during the pandemic. Amazon, for example, reported an increase in net profit of 84 percent in 2020, while Inditex, the parent company of Zara, made 11.4 billion euros, about $13.4 billion, in gross profit. Nike, Next and Walmart all also had healthy earnings.

Some industry experts believe the purchasing practices of the industry’s power players are a major contributor to the severance pay crisis. The overwhelming majority of fashion retailers do not own their own production facilities, instead contracting with factories in countries where labor is cheap. The brands dictate prices, often squeezing suppliers to offer more for less, and can shift sourcing locations at will. Factory owners in developing countries say they are forced to operate on minimal margins, with few able to afford better worker wages or investments in safety and severance.

“The onus falls on the supplier,” said Genevieve LeBaron, a professor at the University of Sheffield in England who focuses on international labor standards. “But there is a reason the spotlight keeps falling on larger actors further up the supply chain. Their behavior can impact the ability of factories to deliver on their responsibilities.”

Jon Laster performing on Friday at the Comedy Cellar in Manhattan.Credit…Jeenah Moon for The New York Times

More than a year after the pandemic brought down the curtain at theaters and concert halls around the world, the performing arts are beginning to return to the stage.

A smattering of theater and comedy shows lit up New York stages over the last few days, but next week will see one of the higher-profile arts returns. The New York Philharmonic is scheduled to give its first live performance in a concert hall since the pandemic began: “a musical musing on Goethe,” at the Shed at the Hudson Yards development on April 14.

The reopenings come at a confusing moment in the pandemic. Vaccinations are rising in the United States — Saturday was the first time the country reported more than four million doses in a single day, according to data compiled by The New York Times — but so are case counts.

While new cases, deaths and hospitalizations are far below their January peak, the average number of new reported cases has risen 19 percent over the past two weeks.

Still, performance spaces are carefully starting to welcome audiences, at a fraction of their capacity. There remains much debate over what regulations to impose on attendees. In Israel, concertgoers are required to have a Green Pass, which certifies that they have been vaccinated, though enforcement can be spotty.

In New York, as at the Daryl Roth Theater, an Off Broadway venue, temperatures were checked as a small audience streamed in for an immersive sound performance based on the José Saramago novel “Blindness” — a dystopian tale from 25 years ago whose resonances eerily align with the present. Mayor Bill de Blasio, masked and sneaker-clad, greeted some theatergoers on the sidewalk outside with wrist and elbow bumps.

But that optimism has been tinged with more halting news that underscores how fragile these reopenings are.

The Park Avenue Armory had to postpone one of the most high-profile experiments to bring indoor live performance back to New York. A sold-out run of “Afterwardsness,” a new piece that addresses the pandemic and violence against Black people, was canceled after several members of the Bill T. Jones/Arnie Zane Company tested positive for the virus.

At the Comedy Cellar, a Greenwich Village club that has nursed the early careers of many comics, laughter filled the room for its first show, but reminders of reality were impossible to miss: Performers’ microphones were swapped out between each set, every fresh one covered with what looked like a miniature shower cap.

John Touhey, 27, said that his reason for coming was simple. “Just to feel something again,” he said.California officials have announced guidelines for indoor concerts, theater, sports and other events, which will be permitted beginning April 15. Capacity will be linked to a county’s health tier.

Los Angeles County, for example, on Monday moved into the orange tier, which would allow venues that hold up to 1,500 people to operate at 15 percent capacity, or 200 people. The number rises to 35 percent if all attendees are tested or show proof of vaccination.

In Minneapolis, pandemic-weary music fans may have to wait longer, but the results will be louder. First Avenue, a legendary club, last month booked its first new, non-postponed show since the pandemic began, The Star Tribune reported. The band is Dinosaur Jr., led by J. Mascis, one of the most durable indie rockers of the last 30 years. The show is scheduled for Sept. 14.

“Those people have not been catered for,” said Dr. Raja Amjid Riaz, a surgeon who is a leader at the Central Mosque of Brent in North London.Credit…Andrew Testa for The New York Times

Minority communities in Britain have long felt estranged from the government and medical establishment, but their sense of alienation is suddenly proving more costly than ever amid a coronavirus vaccination campaign that depends heavily on trust.

With Britons enjoying one of the fastest vaccination rollouts in the world, skepticism about the shots remains high in many of the communities where Covid-19 has taken the heaviest toll.

“The government’s response to the Black, Asian and minority ethnic communities has been rather limited,” said Dr. Raja Amjid Riaz, 52, a surgeon who is also a leader at the Central Mosque of Brent, an ethnically diverse area of North London. “Those people have not been catered for.”

As a result, communities like Brent offer fertile ground for the most outlandish of vaccine rumors, from unfounded claims that they affect fertility to the outright fabrication that shots are being used to inject microchips.

With the government seen as still disengaged in Black, Asian and other ethnic minority communities even as they have been hit disproportionately hard both by the virus itself and by the lockdowns imposed to stop its spread, many local leaders like Dr. Riaz have taken it upon themselves to act.

Some are well-known and trusted figures like religious leaders. Others are local health care workers. And still others are ordinary community members like Umit Jani, a 46-year-old Brent resident.

Mr. Jani’s face is one of many featured on 150 posters across the borough encouraging residents to get tested for the virus and vaccinated, part of a local government initiative.

The goal is to reframe the community’s relationship with the power structure, and perhaps establish some trust.

“In Brent, things have been done to communities and not in partnership,” said Mr. Jani, who said he had seen the toll the virus has taken on the area’s Gujarati and Somali communities.

A line for meals at the Bowery Mission in New York last month. Some people who would benefit most from the stimulus are having the hardest time getting it.Credit…Andrew Seng for The New York Times

For most Americans, the third stimulus payment, like the first two, arrived as if by magic, landing unprompted in the bank or in the mail.

But it’s not as straightforward for people without a bank account or a mailing address. Or a phone. Or identification.

Just about anyone with a Social Security number who is not someone else’s dependent and who earns less than $75,000 is entitled to the stimulus. But some of the people who would benefit most from the money are having the hardest time getting their hands on it.

“There’s this great intention to lift people out of poverty more and give them support, and all of that’s wonderful,” said Beth Hofmeister, a lawyer for the Legal Aid Society’s Homeless Rights Project. “But the way people have to access it doesn’t really fit with how most really low-income people are interacting with the government.”

Interviews with homeless people in New York City over the last couple of weeks found that some mistakenly assumed they were ineligible for the stimulus. Others said that bureaucratic hurdles, complicated by limited phone or internet access, were insurmountable.

Paradoxically, the very poor are the most likely to pump stimulus money right back into devastated local economies, rather than sock it away in the bank or use it to play the stock market.

“I’d find a permanent place to stay, some food, clothing, a nice shower, a nice bed,” said Richard Rodriguez, 43, waiting for lunch outside the Bowery Mission last month. “I haven’t had a nice bed for a year.”

Mr. Rodriguez said he had made several attempts to file taxes — a necessary step for those not yet in the system — but had given up.

“I went to H&R Block and I told them I was homeless,” he said. “They said they couldn’t help me.”

People dining indoors in Northville, Mich., on Sunday. Coronavirus cases are rising even as restrictions are eased, with a more transmissible variant of the virus making up many of the cases in Michigan and elsewhere.Credit…Emily Elconin/Reuters

U.S. coronavirus cases have increased again after hitting a low late last month, and some of the states driving the upward trend have also been hit hardest by variants, according to an analysis of data from Helix, a lab testing company.

The country’s vaccine rollout has sped up since the first doses were administered in December, recently reaching a rolling average of more than three million doses per day. And new U.S. cases trended steeply downward in the first quarter of the year, falling almost 80 percent from mid-January through the end of March.

But during that period, states also rolled back virus control measures, and now mobility data shows a rise in people socializing and traveling. Amid all this, more contagious variants have been gaining a foothold, and new cases are almost 20 percent higher than they were at the lowest point in March.

“It is a pretty complex situation, because behavior is changing, but you’ve also got this change in the virus itself at the same time,” said Emily Martin, an epidemiologist at the University of Michigan School of Public Health.

Michigan has seen the sharpest rise in cases in the last few weeks. B.1.1.7 — the more transmissible and more deadly variant of the coronavirus that was first discovered in Britain — may now make up around 70 percent of all of the state’s new cases, according to the Helix data.

Higher vaccination rates among the country’s older adults — those prioritized first in the vaccination rollout — mean that some of those at highest risk of complications are protected as cases rise again.

But almost 70 percent of the U.S. population has still not received a first dose, and only about half of those ages 65 and older are fully vaccinated. And in many states, those with high-risk conditions or in their 50s and 60s had not yet or had only just become eligible for the vaccine when cases began to rise again, leaving them vulnerable.

Global Roundup

A gym in Saarbruecken, Germany, reopened on Tuesday to anyone with a negative coronavirus test in the previous 24 hours.Credit…Oliver Dietze/DPA, via Associated Press

The tiny German state of Saarland, home to around 990,000 people, is making a cautious return to a new kind of normal in a pilot project that state officials hope could show how to keep the local economy open while controlling infections. From Tuesday, residents who test negative for the coronavirus will be able to use outdoor dining areas, gyms and movie theaters and even attend live theater performances.

Even as cases have continued to rise in Germany, prompting calls for a harsher national lockdown to halt a third wave of the pandemic — which has already shut down many of its European neighbors.

“More vaccinating, more testing, more mindfulness, more options: That’s the formula we want to use as Saarland break new ground in the fight against the coronavirus pandemic,” Tobias Hans, the governor of the state in southwestern Germany, said last week as he announced the reopening plans.

Under the guidelines, as many as 10 people can meet outdoors, and anyone with a negative test result within the previous 24 hours can visit stores, gyms, theaters and beer gardens — places that have largely been closed across Germany since the country announced a “lockdown light” in November.

(Many stores have been open since March, when a court overturned the rules.)

The Saarland project begins the same day that new regulations require travelers from the Netherlands to present a negative coronavirus test to cross the border into Germany. Travelers from the Czech Republic, France and Poland face similar measures.

In other news from around the world:

  • The new leader of Tanzania said she would set up a committee to look into the coronavirus pandemic in the country — a sharp departure from her predecessor’s stance. “We cannot isolate ourselves as an island,” President Samia Suluhu Hassan said in a speech on Tuesday in the port city of Dar es Salaam. Tanzania has not shared data on the coronavirus with the World Health Organization since April, and it has reported just 509 cases and 21 deaths, figures that have been widely viewed with skepticism. President John Magufuli, who died last month, had scoffed at masks and social distancing measures, argued that “vaccines don’t work,” and said that God had helped the country eliminate the virus.

  • The World Health Organization does not support requiring vaccination passports for travel, a spokeswoman said on Tuesday during at a news briefing in Geneva, Switzerland.

    “At this stage we would not like to see the vaccination passport as a requirement for entry or exit because we are not certain at this stage that the vaccine prevents transmission,” the spokeswoman, Margaret Harris, said, according to Reuters. She also cited concerns over the “question of discrimination against the people who are not able to have the vaccine for one reason or another.”

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Credit score Suisse takes $4.7 billion hit from Archegos hedge fund scandal

A Swiss flag flies over a Credit Suisse sign in Bern, Switzerland

FABRIC COFFRINI | AFP | Getty Images

Credit Suisse announced several senior executives leaving Tuesday and proposed cutting its dividend as it weighs the heavy losses from the Archegos Capital saga.

The Swiss lender now expects a pre-tax loss of around 900 million francs (960.4 million US dollars) for the first quarter after taking on a burden of 4.4 billion francs as a result of the scandal.

“The significant loss in our Prime Services business due to the failure of a US-based hedge fund is unacceptable,” CEO Thomas Gottstein said in a trading update.

Brian Chin, CEO of the Investment Bank, and Lara Warner, Chief Risk and Compliance Officer, will be stepping down from their roles with immediate effect, the bank said.

Last week, Credit Suisse announced that it was expecting heavy losses following the collapse of US hedge fund Archegos Capital. The bank was forced to dump a sizeable amount of shares in order to sever ties with the troubled family office.

The board has also waived its bonuses for the 2020 financial year, the bank announced on Tuesday. Chairman Urs Rohner gave up his “chairman’s fee” of 1.5 million francs.

At its Annual General Meeting on April 30, Credit Suisse, together with the amended compensation report, will propose a dividend of CHF 0.10 gross per share.

“In particular, following the major US hedge fund issue, the board of directors is changing its proposal to distribute dividends and withdrawing its proposals for variable compensation for the board of directors,” the Swiss lender said in a trade update.

The company has suspended its share buyback program and does not intend to resume buying shares until it has returned to its target capital ratios and restored its dividend.

Credit Suisse stocks were trading 0.1% below the flatline by mid-morning trading in Europe.

Another scandal

Last month, the bank announced a restructuring of its wealth management business and a suspension of bonuses to contain the damage from the collapse of UK supply chain finance firm Greensill Capital.

The Board has launched two separate inquiries into the Greensill and Archegos sagas, to be conducted by third parties, “to examine not only the direct problems that arise from each of them, but also the wider implications and lessons learned . ” “”

On May 1, Chin will be replaced at the head of the investment bank by Christian Meissner, currently Co-Head of the international wealth management investment banking advisory service at Credit Suisse and Deputy Chairman of Investment Banking.

Joachim Oechslin was appointed Interim Chief Risk Officer and Thomas Grotzer Interim Global Head of Compliance on Tuesday. All three will report to CEO Gottstein.

“Combined with the recent issues related to supply chain finance funds, I have found that these cases have caused significant concern to all of our stakeholders. Together with the Board of Directors, we are determined to address these situations,” Gottstein said in a statement .

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North Korea Bows Out of Tokyo Olympics, Citing Covid-19

North Korea announced on Tuesday that it had decided not to participate in the 32nd Summer Olympics in Tokyo because of the Covid-19 pandemic.

The decision was made when the National Olympic Committee of the North met in Pyongyang on March 25th and decided that a delegation would skip the Tokyo Olympics, scheduled for July 23rd to August 8th, “to our athletes protect from the global health crisis caused by the malignant viral infection, “said the government-run sport in the Democratic People’s Republic of Korea.

It’s the first Summer Olympics the North has skipped since boycotting the Seoul Olympics in 1988.

North Korea, which has a rundown public health system, has taken tough measures against the virus since the beginning of last year, including closing its borders. The country officially claims there are no Covid-19 cases, but outside health experts remain skeptical.

North Korea’s decision robs South Korea and other nations of a rare opportunity to make official contact with the isolated country. Officials in the south had hoped the Olympics could provide a venue for high-level delegates from both Koreas to discuss issues beyond the sport.

The 2018 Winter Olympics in the South Korean city of Pyeongchang provided such an opportunity. Kim Yo-jong, the only sister of North Korean leader Kim Jong-un, attracted worldwide attention when she became the first member of the Kim family to cross the border into South Korea to attend the opening ceremony.

Mr. Kim used the North’s participation in the Pyeongchang Olympics as a signal to begin diplomacy after a series of nuclear and long-range missile tests. The inter-Korean dialogue soon followed, leading to three summit meetings between Mr. Kim and President Moon Jae-in of South Korea. Mr. Kim also met three times with President Donald J. Trump.

Since the collapse of Mr Kim’s diplomacy with Mr Trump in 2019, North Korea has avoided official contact with South Korea or the United States. The pandemic has deepened its diplomatic isolation and economic difficulties amid concerns over its nuclear ambitions. North Korea launched two ballistic missiles in its first such test in a year on March 25 to challenge President Biden.

The Tokyo Games, which start in July, were originally scheduled for 2020 but have been postponed for a year due to the pandemic. The Tokyo Organizing Committee has made efforts to develop security protocols to protect both attendees and local residents from the virus. Concern is high in Japan, with large majorities in polls saying the Games shouldn’t be held this summer.

A number of health, economic and political challenges have besieged the Games. Even when the organizers decided last month to exclude international viewers, Epidemiologists warn that the Olympics could turn into a superspreader event. Thousands of athletes and other participants will come to Tokyo from more than 200 countries while much of the Japanese public remains unvaccinated.

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Harvey Weinstein appeals rape conviction in MeToo case

Harvey Weinstein enters the courthouse on July 11, 2019 in New York City.

Stephanie Keith | Getty Images

Film producer Harvey Weinstein’s lawyers appealed his conviction of rape and another sex crime on Monday.

69-year-old Weinstein was convicted after a trial in the Manhattan Supreme Court in February 2020.

He is serving a 23-year prison sentence on trial two years after Weinstein’s explosion of explosive sexual misconduct allegations that sparked the #MeToo movement that has derailed the careers of other high-profile men to this day.

In a lawsuit, his attorneys set seven grounds for overturning the conviction of the producer of such films as Pulp Fiction, Shakespeare in Love and Gangs of New York.

These include allegations that Weinstein was denied the right to be tried by an impartial jury when the trial judge denied his challenge to banning a potential juror who wrote an autobiographical book on “The Predators of Older Men Against Younger Women.” and had lied about the substance of the book in the “selection of the jury.

Defense attorneys also argued that Weinstein was denied his right to a fair trial because the jury was allowed to hear allegations of serious sexual misconduct from him that were not the subject of the specific charges he faced and that defense experts were wrongly excluded from testimony became the subject of memories of sexual events.

And, the lawyers argued, Weinstein received “a punishment that was harsh and excessive”.

The complaint is filed with the Appeals Department of the Manhattan Supreme Court.

“We filed a 166-page brief listing some serious errors that were made during the process,” Weinstein’s appellate attorney Barry Kamins said in a statement to CNBC.

“We are confident the Appeals Department will take these issues seriously enough to have the conviction overturned,” said Kamins.

The jury sentenced Weinstein to a first-degree criminal sexual act by forcibly performing oral sex with production assistant Mimi Haleyi in 2006. He was also found guilty of third degree rape for assaulting aspiring actress Jessica Mann in a Manhattan hotel room in 2013.

During the trial, the jury heard testimony from actress Annabella Sciorra, who said Weinstein raped her in her Manhattan apartment in 1993.

Weinstein was not accused of raping Sciorra, but her testimony, along with that of five other women, was admitted by the judge on trial so that prosecutors could show a pattern of predatory behavior by the film mogul. Numerous other women have accused Weinstein of sexual misconduct.

Another Weinstein attorney, Arthur Aidala, said, “With a year behind and emotions waning, the case record confirms what we have always believed: that Mr. Weinstein did not get a fair trial.”

“We will argue that the trial judge violated well-accepted and fundamental principles of New York law and violated Mr. Weinstein’s constitutional rights,” Aidala said. “We are very confident that the Appeals Department will correct these mistakes and send this case back to another judge.”

In addition to the New York case, Weinstein is also facing pending charges filed by the Los Angeles prosecutor in January 2020. She accused him of raping a woman and sexually assaulting a second woman over a period of two days in 2013.

The Los Angeles attorney has an extradition request pending for Weinstein, who is being held in a New York State prison. Weinstein, who has several health problems, tested positive for the coronavirus in prison in March 2020.

Weinstein founded the entertainment company Miramax with his brother Bob Weinstein.

They later founded The Weinstein Company, another film production company that filed for bankruptcy in early 2018 following the damned Harvey Weinstein charges, which were first published in The New Yorker and The New York Times. The Weinstein Company closed later that year.

– CNBCs Kevin Breuninger contributed to this article.

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Girls, 86 P.c Absent From Jordan’s Work Pressure, Are Left Behind

AMMAN, Jordan – Marwa Alomari’s compassionate and patient style made her a popular English teacher who filled her classes in Irbid, Jordan with eager students and her free hours of private tuition.

As a college graduate, she received up to $ 3,000 a month, far more than most other Jordanians.

But after she married an army officer and moved in with his family, he began to get annoyed that she was paid more than he was. Although she contributed to the household with both money and housework, he and his family discouraged her from work and the marriage almost collapsed, she said.

“I was absolutely convinced that I would not stop, but at some point I found no support and just got tired and gave up,” said Ms. Alomari, 35. “I cooked, cleaned and gossiped with women again. And that wasn’t my ambition. “

Her story mirrors what is happening across Jordan – a small Arab monarchy that has been an unwavering ally of Western countries – where women’s status in terms of labor force participation, health and politics has declined for years, and even behind more conservative countries in the US remains region.

For the past 10 years, the country has been at the bottom of the World Economic Forum’s Global Gender Gap Report, which highlights gaps between women and men in employment, education, health and politics.

After large increases over the past three decades, more women than men have graduated in the country, and women also have higher literacy rates.

Nevertheless, according to government data and the latest Global Gender Gap Report, 86 percent of women in the country are inactive. According to the World Bank, this is the highest rate in the world for a country not at war.

In contrast, Western Europe has moved and continues in the direction of gender equality the most, followed by North America.

And the effects can be felt far beyond the economy.

“As long as women are absent from the labor market, they are not represented in public,” said Asma Khader, president of the non-profit group Sisterhood is Global Institute in Jordan. “Top officials are afraid to make decisions in favor of women because society is conservative. But I believe if there are real economic reforms, women will be empowered and challenged. “

With its close ties to the West, an outspoken queen, female MPs and police officers, Jordan has long had the image of a relatively progressive kingdom in a conservative neighborhood. Recently, however, some golf neighbors have seen an increasing number of women-run startups and changes in labor legislation that have resulted in growing opportunities for women.

In Jordan, the head of household is usually defined as a husband unless he is dead, missing, or has lost his citizenship. This gives him sole guardianship over children, with authority over matters such as travel, citizenship, and opening bank accounts. In Saudi Arabia, due to the recent changes, at least in theory, women could also be viewed as “householders”.

Traditional attitudes, discriminatory laws, lack of access to public transport and wage differentials are hindering the advancement of women in Jordan.

The November elections to the country’s 130-seat parliament were testament to the declining role of women. Turnout was low and female candidates lost heavily. Women did not occupy a single seat beyond the quota of 15 female legislators, compared to 20 in the previous parliament.

Sara Ababneh, assistant professor of politics and international relations at the University of Jordan, said the problem extends beyond the elections.

“Sometimes we talk about women’s representation – we say there should be more women ministers,” she said. “But we never talk about universal rights and real political empowerment.”

Recent research by the World Bank has shown that men in Jordan are paid up to 40 percent more than women for the same job in the private sector. In the public sector, the gap is 28 percent.

The employment gaps – 53 percent of men are employed compared to 14 percent of women – are almost twice as high as in neighboring countries such as Bahrain, Kuwait and the United Arab Emirates.

The traditional roles in Jordan are enshrined in laws that distinguish between the rights and duties of women and men. There is no law that prohibits gender discrimination in the workplace. And while the constitution provides that “every worker must receive a wage commensurate with the quantity and quality of their work”, there is no right to equal pay for women and men.

For Muslims, who make up the majority of Jordan’s nearly 11 million population, marriage, divorce, custody and inheritance issues are governed by Sharia or Islamic law and are decided by Sharia courts rather than civil or military courts. For example, under Sharia law, women can inherit property, but daughters receive half as much as sons.

And during the Arab Spring a decade ago, many women and human rights defenders attacked a parliamentary committee for breaking its promise to include the word gender in Article 6 of the Constitution, which aims to ensure equality for all Jordanians. It states: “There must be no discrimination between Jordanians with regard to their rights and obligations on the basis of race, language or religion.”

Despite the obstacles, some women have managed to be successful in their careers.

Jamileh Shetewi is an exception among Jordanian women in every way. She grew up with her eight siblings and parents in a mud-walled one-room house and spent her childhood picking tomatoes, eggplants and bananas with her four sisters on hot and shadowless farms.

The odds were against them.

She dropped out of school at the age of 17 and married at the age of 18. As a young farmer, she was paid $ 3 less a day than the men she worked with from 1997 to 2002 and had to cook for them on top of her job.

She decided to go back to school and did her PhD. in archeology. Today she heads the antiques department in the Jordan Valley region.

“Yes, I defied all expectations,” said Ms. Shetewi, 50. “I fought and destroyed the culture of shame.” But without changing laws and perceptions, most women will not be able to move forward.

“I didn’t care what people had to say and I said to my husband, ‘I need your support to make our lives better,” she said. “We are not the enemy. Believe that a country without half of its population can reform and prosper? “

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Japan shares edge larger as main markets in Asia-Pacific are closed

SINGAPORE – Japanese stocks rose Monday afternoon as many major Asia Pacific markets are closed for public holidays.

In Japan, the Nikkei 225 was up 0.91% while the Topix index was up 0.66%.

South Korea’s Kospi hovered over the flatline. LG Electronics’ shares rose approximately 0.6%. The company announced on Monday that it was closing its mobile division to focus resources on “growth areas” like electric vehicle components.

The broadest MSCI index for stocks in the Asia-Pacific region outside of Japan has hardly changed.

The markets in Australia, Mainland China and Hong Kong are closed on Mondays for public holidays.

US payrolls exceed expectations

In terms of economic development, the U.S. Department of Labor reported Friday that the number of non-agricultural workers rose by 916,000 in March – well above the 675,000 increase that Dow Jones polled economists had expected.

The unemployment rate also fell to 6%, in line with the expectations of economists polled by Dow Jones.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its peers, came in at 92.942 – up above 93.3 from late last month.

The Japanese yen was trading at 110.57 per dollar, weaker than 110.5 against the greenback last week. The Australian dollar changed hands at $ 0.7619, above the $ 0.756 level seen last week.

Oil prices were lower in the afternoon of Asian trading hours, with the international benchmark Brent crude oil futures falling 0.99% to $ 64.22 a barrel. US crude oil futures were down 0.91% to $ 60.89 a barrel.

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On Easter, Pope France Urges Common Entry to Coronavirus Vaccines

Pope Francis conveyed his annual Easter message “Urbi et Orbi” (“To the city and into the world”) to a small group of believers in St. Peter’s Basilica on Sunday, while the coronavirus pandemic ban kept the usual audience of around 70,000 pilgrims for a second Year away from St. Peter’s Square.

The Pope conveyed the message after presiding over the Easter mass in the presence of about 200 believers.

Francis spoke of the economic and social difficulties many people, and especially the poor, are experiencing due to the pandemic that has recently worsened in Italy and much of Europe. He also addressed the ongoing armed conflict, civil unrest and increased military spending in Myanmar, Syria, Yemen, Nigeria and other regions and nations.

As in the past, the leader of the world’s 1.3 billion Catholics urged the international community “in a spirit of global responsibility” to ensure that everyone had access to vaccines, which he considered “an essential tool” in the fight against the US designated pandemic. Delivery delays had to be overcome to “facilitate their distribution, especially in the poorest countries,” said Francis.

He called on all governments to take care of the many people who have lost jobs and faced economic difficulties as a result of the pandemic, as well as those who lack “adequate social protection”.

“The pandemic has unfortunately dramatically increased the numbers of the poor and the despair of thousands of people,” he said.

The Pope also noted the youth’s difficulty “being forced to spend long periods of time without going to school or university or spending time with their friends”. He paid tribute to the children who had written meditations on Good Friday for the Torchlight Way of the Cross, which this year took place in front of the basilica instead of the Colosseum and spoke of loneliness and sadness as a result of the pandemic.

“The risen Christ is hope for all who continue to suffer from the pandemic, both the sick and those who have lost a loved one,” said Francis.

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Tesla TSLA Q1 2021 car manufacturing and supply numbers

Tesla has just reported its vehicle production and delivery numbers in the first quarter for 2021. A total of 184,800 vehicles were delivered and 180,338 cars were produced.

Analysts had expected Tesla to deliver around 168,000 vehicles as of April 1, according to FactSet estimates. The estimates were between 145,000 and 188,000 deliveries.

Deliveries in the first quarter surpassed Tesla’s previous record of 180,570 deliveries in the fourth quarter of 2020.

All of the electric vehicles he produced were Model 3 sedans and Model Y crossover SUVs during the quarter, and none of the more expensive Model S sedans and Model X SUVs were made.

2,020 vehicles of the models S and X were delivered from stock, which, however, only corresponds to 1% of the total deliveries. In a statement, Tesla wrote that the company is “now in the early stages of ramp-up” for updated versions of the S and X with “new equipment installed and tested in the first quarter.

Elon Musk, CEO of Tesla, said in his last report on January 27th: “We were able to promote the Plaid Model S and X – Model S will be delivered in February and Model X a little later.” He added, “The Model S plaid, we’re in production right now.”

The S Plaid model is a luxury sedan that the company promises to go from 0 to 60 mph in less than 2 seconds and seat up to seven people with third-row seating. What is important to Tesla’s automotive margins is that the S and X models have a higher average retail price than the S and Y models. The Model S plaid costs between $ 79,990 and $ 149,990, according to Tesla’s website.

However, Tesla’s operations for the quarter ended March 31, 2021 were ultimately affected by a fire at its Fremont, California facility. Temporary closings, which Musk attributed to shortages of parts, a major chip shortage in the industry, problems with port capacity and the ongoing pandemic.

Tesla’s most recent shipments were more than 100% higher than the same period last year when the company first began shipping and mass producing the Model Y. However, Tesla Q1 shipments were up a little more than 2% vehicles from the quarter through 2020 when Tesla shipped 180,570 vehicles.

Deliveries are closest to Tesla’s reported sales.

During the company’s latest earnings call in 2021, Chief Financial Officer Zachary Kirkhorn said, “Especially for the first quarter, our volumes will have the benefit of an early Model Y ramp in Shanghai. However, S and X production will be discontinued due to the transition to new revised products. “

At an annual general meeting in 2020, CEO Elon Musk announced to shareholders that he expects deliveries to hit an implied range between 477,750 and 514,500 cars for the year. Tesla hit the mid-range of that window, shipping 499,550 cars for the year, the best sales volume ever.

Musk and Kirkhorn declined to provide specific guidance on deliveries in 2021 during that call, but said they would provide more clarity in the second quarter. Kirkhorn said on the conference call, “We continue to expect a long-term volume CAGR of 50%, which we could significantly exceed in 2021.” That goal was reiterated in the same appeal by Tesla’s then President of the Automotive Industry, Jerome Guillen. (Guillen has since taken on the role of President of Heavy Trucking.)

Fans and critics will both watch whether new battery-electric vehicles entering the market undermine Tesla’s lead in this category or have a more negative impact on internal combustion engine and hybrid vehicle sales. Startups and major automakers are introducing more EV models than ever before.

On March 29, Jeffries cut his price target for Tesla from $ 775 to $ 700. Analyst Philippe Houchois wrote in a note:

“Legacy-free 30-50% net growth and double-digit margin potential still support high multipliers, but Tesla is no longer unique as an EV game with preferential access to capital. Part of the edge began to erode, but slowly and Tesla is still leading on multiple fronts, from software to design to manufacturing, speed of execution and direct sales. “

– CNBC’s Jordan Novet contributed to the coverage.

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Myanmar Troopers, Aiming to Silence Coup Protests, Goal Journalists

Ten days after taking power in Myanmar, the generals issued their first order to journalists: stop using the words “coup”, “regime” and “junta” to describe the military takeover. Few reporters observed Orwell’s policy, and the junta pursued a new goal – the suppression of all freedom of expression.

Since then, the regime has arrested at least 56 journalists, banned online news outlets known for their harsh reporting, and disrupted communications by shutting down the mobile data service. Three photojournalists were shot and wounded while taking photos of the anti-coup demonstrations.

Under pressure from professional journalists, many young people who have come of age during a decade of social media and information sharing in Myanmar have come into battle, called themselves citizen journalists, and risked their lives to document the brutality of the military. They take photos and videos with their phones and share them online when they are given access. It is a role that is so common today that they are simply referred to as “CJs”.

“They are aimed at professional journalists so that our country needs more CJs,” said Ma Thuzar Myat, one of the citizen journalists. “I know that at some point I could be killed for videotaping what was happening. But I will not resign. “

Ms. Thuzar Myat, 21, noted that few people were able to document the protests in 1988 when the Tatmadaw, as the military is known, exterminated a pro-democracy movement by massacring an estimated 3,000 people. She said she saw it as her duty to gather evidence of today’s violence, even though a soldier had already threatened to kill her if it didn’t stop.

The regime’s obvious goal is to set the clock back to a time when the military ruled the country, the media was tight, and only the richest people had access to cell phones and the internet. But the new generation of young people who grew up with the internet say they are not giving up their freedoms without a fight.

“What we are seeing is a widespread attack on the centers of democracy and freedom,” said U Swe Win, co-founder and editor-in-chief of Myanmar Now, one of the banned outlets. “We are very concerned that Myanmar will become North Korea. They will destroy all forms of information gathering and sharing. “

The Tatmadaw has a history of suppressing the opposition. When it took control in 1962, it ruled for nearly half a century before it decided to share power with elected civilian leaders and open the country to the outside world.

In 2012, under a new quasi-civil government, inexpensive cell phones poured in and Facebook became the dominant online forum. Vibrant media sprouted online and competing newspapers flocked to newsstands.

Protests have broken out almost every day since the February 1 coup – often led by young people – and a broad civil disobedience movement has brought the economy to a virtual standstill. In response, soldiers and police killed at least 536 people.

At the United Nations on Wednesday, the special envoy for Myanmar, Christine Schraner Burgener warned that “a bloodbath is imminent”. The regime has arrested thousands, including the country’s civilian leader Daw Aung San Suu Kyi. On Thursday, one of her lawyers said she was charged with violating the Official Secrets Act and added a list of suspected crimes.

While the UN Security Council has not punished the military in Myanmar, it has spoken increasingly negatively about the repression. In a statement released Thursday evening, the Council expressed “deep concern about the rapidly deteriorating situation and strongly condemned the use of force against peaceful demonstrators and the deaths of hundreds of civilians, including women and children”.

While the military uses state media to spread its propaganda and fire warnings, attacks on journalists and arrests have increased dramatically in recent weeks.

In order not to be targeted, journalists have stopped wearing helmets or vests with the word “PRESS” on them and have tried to adapt to the demonstrators. Many also go quietly by not receiving credit for their published work and avoiding sleeping in their own four walls. Even so, their professional cameras can give them away.

At the same time, soldiers and police routinely search civilians’ phones for protest photos or videos.

“If you get arrested with video clips, you can go to jail,” said U Myint Kyaw, secretary of the Myanmar Press Council, an independent advocacy group for the news media, before he and most of the others stopped the panel in protest in February.

At a recent press conference, a junta spokesman said it was up to journalists to avoid behavior that could be construed as violating the law.

“Only the action of the journalist himself can guarantee that they will not be arrested,” said Brig. Gen. Zaw Min Tun spokesman. “If their actions are against the law, they will be arrested.” All three journalists shot and wounded claim to have been attacked by security forces.

Freelance journalist Ko Htet Myat Thu, 24, photographed protests in Kyaikto, a city in southern Myanmar, as a soldier on Saturday shot him in the leg, he said. A video of his arrest, recorded by a citizen journalist from a nearby building, shows soldiers beating him and forcing him to jump on his good leg as they lead him away.

Another photojournalist, U Si Thu, 36, who was shot that day, was hit in his left hand while holding his camera in front of his face and photographing soldiers in Mandalay, the country’s second largest city. He said he believed the soldier who shot him aimed at his head.

“I had two cameras,” he said, “ “So it was obvious that I am a photojournalist, even though I had neither a press helmet nor a vest.”

“I am sure the military junta will target journalists because they know we are showing the world the realities and they want to stop us by arresting or killing us,” he added.

Half of the 56 journalists arrested have been released, according to a group tracking arrests. Those released included reporters for The Associated Press and the BBC.

However, 28 remain in custody, including at least 15 people sentenced to up to three years’ imprisonment under an unusual law prohibiting the dissemination of information that could induce military officers to neglect or fail to perform their duties.

Ma Kay Zon Nway, 27, a reporter for Myanmar Now, televised her own arrest in late February while escaping from police in Yangon, Myanmar’s largest city. Your video shows the police shooting into the air as the demonstrators flee. The sound of their labored breathing can be heard as the police catch up with them and take them away.

She is among those charged under the vague and comprehensive law. She was only allowed to meet her lawyer in person once.

Mr. Swe Win, the editor of Myanmar Now, was imprisoned for seven years in 1998 for protesting. “All of these legal proceedings are being conducted for formality reasons,” he said, adding, “We cannot expect fair treatment. ”

With mobile communications blocked, Facebook bans and nightly internet shutdowns, Myanmar’s mainstream media rely on citizen journalists for videos and news tips, said Myint Kyaw, the former press council secretary.

One of them, Ko Aung Aung Kyaw, 26, was videotaping the police arresting people in his neighborhood in Yangon when an officer spotted him. The officer cursed him Aimed his rifle and fired, Mr. Aung Aung Kyaw’s video shows.

The bullet hit a wall in front of him.

“I know that recording such things is very risky and I may be shot or arrested,” he said. “But I think I have to keep doing it, to have evidence, to punish her.”

Rick Gladstone contributed to the coverage from New York.