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Baidu Hong Kong itemizing to boost not less than $Three billion

Robin Li, General Manager of Baidu.

Nelson Ching | Bloomberg | Getty Images

GUANGZHOU, China – Baidu will raise $ 3.6 billion in an upcoming Hong Kong secondary listing if stocks are valued at the high end of their range.

On Thursday, the Nasdaq-listed Chinese technology giant published its prospectus for the Hong Kong listing. Baidu will issue 95,000,000 Class A common shares at a price not exceeding 295 Hong Kong dollars or US $ 38.05.

At that high end, Baidu’s net proceeds from the offering will be Hong Kong $ 27.6 billion, or $ 3.6 billion.

The banks that subscribe to the listing also have the option to purchase up to 14,250,000 additional shares. That would bring the net proceeds from the deal to Hong Kong $ 31.8 billion, or $ 4.1 billion.

The final price for the shares will be determined in part by the price of the US-listed Baidu shares on the last trading day prior to the price of the global offering, which is expected to occur on or about March 17, the company said.

Earlier in the day, CNBC reported that Baidu will raise at least $ 3 billion, citing two people familiar with the matter.

The listing will be completed before the end of the month, they said.

The book-making process could begin as early as Friday with final stock pricing, which will be announced late next week. This was announced by the person on CNBC, who spoke on condition of anonymity as the details of the deal are not yet public.

Baidu declined to comment when contacted by CNBC.

Diversification plans

Baidu could also benefit from a huge 128% surge in its shares over the past 12 months to raise capital.

While Baidu is traditionally known for its search and advertising business, more recently it has looked to diversify.

The company has focused on its autonomous auto business and is creating independent companies. CNBC reported in February that Baidu plans to raise money for an artificial intelligence semiconductor company.

Baidu has also built a standalone electric vehicle business with automaker Geely and is raising money for a biotechnology company.

The company said it will use the proceeds from the Hong Kong listing to invest in technology and commercialize its artificial intelligence products, improve monetization and diversify, and for general corporate purposes.

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Your Thursday Briefing – The New York Occasions

Despite accusations of “vaccine nationalism” and protectionism, the European Union has exported 34 million doses of coronavirus vaccines to dozens of countries in the past few weeks, though it lags behind the US, UK and Israel according to internal documents from The Times seen.

The news, EU officials privately admitted, was bound to outrag European citizens in 27 countries who were still waiting to be shot as they watched people in other countries rush past them to reopen and reopen their economies to resume safer, more normal public life.

By the numbers: Only 6.5 percent of people in the EU received at least one shot, compared to nearly 58 percent of Israelis, 33 percent of British and 19 percent of Americans.

Here are the latest updates and maps of the pandemic.

In other developments:

  • A protest in Greece turned violent as anger mounted over tactics used by police officers enforcing lockdown restrictions.

  • The Biden government plans to procure an additional 100 million doses of Johnson & Johnson’s single-shot vaccine by the end of this year.

  • According to RDIF, a Russian sovereign wealth fund, Kenya and Morocco have approved the Russian vaccine Sputnik V, Reuters reported.

President Biden’s $ 1.9 trillion stimulus package was finally approved in the House of Representatives on Wednesday. Mr Biden is expected to sign the bill on Friday.

The American Rescue Plan provides direct payments of up to $ 1,400 to Americans and an additional $ 300 per week of unemployment benefits extended through early September. The bill also offers significant benefits to low-income Americans, including an expanded child tax credit, and funds pandemic priorities like testing, contact tracing, and genome sequencing.

The measure, which was passed with 220-211 votes, cemented one of the largest injections of federal aid since the Great Depression. Republicans have attacked the plan as wasteful and excessive, but according to a poll by Pew, 70 percent of Americans support it.

Connected: Merrick Garland was confirmed as attorney general with strong support from both parties. The Senate vote was 70-30, with 20 Republicans in support.

Chinese leaders are releasing tens of billions of dollars to allow the country’s tech industry to borrow. With a projected 7 percent annual increase in research and development spending for five years, China’s goal is not to be indebted to anyone – especially not to the United States.

The Trump administration angered the Communist Party leadership by restricting access to American technology for corporate giants like Huawei, and Beijing believes the U.S., under President Biden, will continue to question China’s technological advancement. The first face-to-face diplomatic meeting under the Biden administration is scheduled for March 18 in Anchorage.

Microchips: China only covers 15.9 percent of its chip demand domestically. That could change, however: Premier Li Keqiang last week made detailed proposals to accelerate semiconductor production that are part of a broader strategy that includes processors, cloud computing and AI

Connected: China and Russia announced Tuesday that they had agreed to jointly build a research station on or around the moon to set the stage for a new space race.

A year ago this month, the city famous for never sleeping began to close. Retailers closed their doors. Wealthy residents fled to second homes. The nightly subway service has been discontinued.

We spent months documenting the city when its economy was frayed and divided during the pandemic. These images tell the story of a broken city – and of resilience.

Russia and Twitter: The government said it slowed down access to Twitter and accused the social network of failing to remove illegal content. The restrictions are a marked escalation of an ongoing offensive against American internet companies that have long been a haven for free speech.

Prince Harry and Meghan: Although the aftermath of her bombshell interview with Oprah Winfrey reverberated around the world and caused a rare public schism in the British press, many members of the British political class have avoided dealing with it. Prime Minister Boris Johnson has not yet issued a comment.

Under: While the US film industry is slowly chugging, Hollywood has temporarily moved to Australia. Dozens of international film productions have been lured to the country where there are few cases of Covid-19. In return, actors have found something that resembles paradise.

Sarah Everard: A UK police officer is being held on suspicion of murder in connection with the disappearance of the young woman who disappeared in south London after leaving a friend’s house. Detectives investigating the case have found human remains in a wooded area in Kent.

Snapshot: A decade after an earthquake and tsunami that killed more than 19,000 people and triggered a catastrophic meltdown, many former residents of Fukushima, Japan have still not returned. What’s waiting for those who do it upstairs is often more eerie than inviting.

Mysterious manuscript: In 1883, 15 fragments of manuscripts found near the Dead Sea and written in an ancient Hebrew script caused an international sensation. Although denounced as forgeries, a young scholar is now arguing that they are not only authentic, but also older than the First Temple-era book of Deuteronomy.

What we read: This Irish Times article about the Meghan and Harry interview is a decidedly Irish take on their revelations about racism and the royal family. One selected quote: “After Harry and Meghan, the monarchy looks archaic and racist. Well duh “

China’s crackdown on Hong Kong has taken place swiftly: a rising power asserted its authority over global finance capital through a tough national security law passed last summer. Our China correspondent Vivian Wang spoke to the Morning Newsletter about the new Hong Kong. Here is an excerpt.

Why did Xi Jinping and the rest of the Chinese leadership decide to act now?

Vivian: The short answer is the massive anti-government protest movement in 2019 in response to a government proposal that would have allowed extraditions to mainland China.

The scale of the protests really shook Beijing. All previous protest movements had lasted a few months at the most. This time there was great support and it didn’t die on its own.

Did the process work from Beijing’s point of view? And has it caused problems for the central government?

In many ways, it absolutely worked. There are no more street protests. There is extensive self-censorship. Virtually every prominent pro-democracy activist is in exile, in prison, awaiting trial, or has disappeared from public life.

But there is a lot of simmering anger among Hong Kongers, even if they no longer dare to express it publicly.

Do people see reasons for optimism in the movement?

Since the Security Act came into force, the mood within the democracy movement has been gloomy. I expected at least some people to offer fiery defiance, reminding people that there is still hope – if only as a rally, whether they believed it or not. But everyone I speak to is pretty much agreed that there isn’t much they can do to change the situation, at least for now.

Thank you for coming to me. And look forward to our redesign, which starts on Tuesday.

– Natasha

Thank you
Thanks to Melissa Clark for the recipe and Theodore Kim and Jahaan Singh for the break from the news. You can reach the team at briefing@nytimes.com.

PS
• We listen to “The Daily”. Our latest episode features a police officer’s account of the Capitol Rebellion.
• Here is our mini crossword puzzle and a hint: Send via UPS or FedEx (four letters). You can find all of our puzzles here.
• Our Brussels correspondent Matina Stevis-Gridneff discussed the EU hunt for coronavirus vaccines with BBC Outside Source.

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Inventory futures rise barely after Dow units document excessive

A trader on the floor of the New York Stock Exchange.

Source: NYSE

Stock futures rose slightly on Wednesday evening after the market’s blue-chip average hit another record high during regular trading hours.

Futures contracts for the Dow Jones Industrial Average gained 72 points, or 0.2%. Those for the S&P 500 and Nasdaq 100 rose 0.3% and 0.4%, respectively.

The futures move came after the Dow rose 464 points to a record high on Wednesday. The S&P 500 rose 0.6% while the Nasdaq Composite fell slightly as the rotation away from growth stocks resumed.

Wednesday’s gains came as the House passed the $ 1.9 trillion stimulus package and sent it to President Joe Biden. While the bond market digested an auction of 10-year government bonds worth $ 38 billion with no volatility spike.

Rising interest rates in recent weeks have accelerated the move away from technology and growth stocks to more cyclical sectors like energy. Higher interest rates make profits less attractive to investors in distant years and can knock down stocks with relatively high valuations.

“The faster-than-expected acceleration in US economic growth appears to be raising inflation and longer-term interest rates,” said Gary Schlossberg of the Wells Fargo Investment Institute in a note. “The pace of these increases has been a recent concern of investors, but a rebound in interest rates and inflation is a typical occurrence at the beginning of a rebound – faster this time, in our opinion, as economic growth rebounds abnormally.”

However, this week was stronger overall for growth stocks as a rise in the Nasdaq on Tuesday pulled the index out of correction territory. The Invesco QQQ Trust, which tracks the Nasdaq 100, is up slightly this week after falling over the past three weeks.

In terms of data, investors will receive two new pieces of information on the labor market recovery on Thursday. The first number of unemployment claims for the past week will be published at 8:30 a.m. CET. The economists surveyed by Dow Jones expect 725,000 new claims. The January job posting and turnover survey will take place later this morning.

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South Korea Will Pay Extra for U.S. Troop Presence

SEOUL, South Korea – South Korea announced Wednesday that it agreed to increase its share of the cost of the US military presence by 13.9 percent this year to address an ongoing dispute within the Alliance ahead of a joint visit by Eliminate Secretary of State Antony J. Blinken and Secretary of Defense Lloyd J. Austin III.

Differences in how the cost of maintaining 28,500 American troops in South Korea was divided has kept the Allies at odds for years. The issue was particularly controversial under former President Donald J. Trump, who demanded that South Korea increase its payments drastically – up to five times, according to some reports. Even when warming up for North Korea’s leader Kim Jong-un, Trump often accused South Korea of ​​being allowed to freeload American military power.

Negotiations lasted a year and a half, but made progress after President Biden took office and pledged to re-establish alliances around the world.

Over the weekend, the United States and South Korea agreed on a five-year contract to increase military payments, subject to legal approval in both capitals. Under the deal, South Korea will pay $ 1 billion this year, 13.9 percent more than its annual payments in 2019 and 2020, officials said on Wednesday. From next year through 2025, South Korea will increase its stake annually at the same rate as it is increasing its defense budget – averaging 6.1 percent per year through 2025.

“South Korea and the United States have demonstrated the resilience of the solid alliance by smoothly addressing the important issue of the upcoming alliance early after the start of the Biden administration,” the South Korean State Department said in a statement on Wednesday.

Since the Korean War of 1950/53, South Koreans have viewed the American military presence as an integral part of their defense against North Korea. But Mr Trump’s request for a drastic increase irritated many and raised questions about Washington’s commitment to defending its ally.

North Korea has long fought for the withdrawal of American troops, arguing that the threat they posed, including their joint war games with the South Korean military, had compelled them to develop nuclear weapons.

Mr Trump met three times with North Korea’s Leader Kim Jong-un to attempt to end the north’s nuclear weapons program while the Allies suspended or reduced their joint military exercises in support of diplomacy. Mr Trump shocked many in South Korea, especially conservatives, by calling such exercises “enormously expensive” and “very provocative” in the Korean peninsula.

Mr Trump’s diplomacy with Mr Kim collapsed without an arms control deal with North Korea, whose nuclear and missile capabilities increased during Mr Trump’s tenure. Nonetheless, the United States and South Korea have significantly reduced the scope of this year’s spring military exercise, which began Monday, and ran it as a computer simulation with little troop movement. South Korea said the exercise was minimized this year due to the Covid-19 pandemic and a desire to keep the diplomatic dynamic with North Korea alive.

How to get North Korea back to the negotiating table will be a central theme when Mr Blinken and Mr Austin visit South Korea next Wednesday and Thursday and meet President Moon Jae-in and other senior South Korean officials. North Korea has yet to respond to its planned visit or the joint Washington-Seoul military exercise.

Mr. Blinken’s trip, which will include a visit to Tokyo prior to his trip to Seoul, was to “reaffirm the United States’ commitment to strengthening our alliances and highlighting cooperation that will bring peace, security and prosperity to the Indo-Pacific region and Environment promotes the world, “the State Department said in a statement.

Mr. Moon, the South Korean President, has emphasized the importance of the alliance with Washington while trying to maintain his country’s robust trade ties with China.

He is also a passionate advocate of diplomacy with North Korea and helped organize the summits between Mr Trump and Mr Kim. A breakthrough in the denuclearization talks between Washington and Pyongyang would ease political détente on the Korean peninsula and help realize his dream of strengthening economic ties between the two Koreas.

Mr. Moon’s administration hopes the Biden administration will pursue the diplomacy started by Mr. Trump rather than reverting to former President Obama’s policy of “strategic patience” which focused on bruising North Korea with sanctions.

After his diplomacy with Mr Trump failed to lift sanctions against his country, Mr Kim vowed to continue advancing his country’s nuclear capabilities, stating that it would build new solid fuel ICBMs and make its nuclear warheads lighter and more precise.

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Russia slows down Twitter to guard residents from unlawful content material

Russian President Vladimir Putin.

Alexei Nikolsky | Reuters

Russia has announced that it will impose restrictions on the social media platform Twitter for not removing illegal content from its platform.

The Federal Service for Communications, Information Technology and Mass Communication, also known as Roskomnadzor, announced on Wednesday that it was slowing the speed of Twitter.

The communications guard said he was taking measures to ensure the safety of Russian citizens and could completely block the service if Twitter does not respond appropriately.

Twitter did not immediately respond to CNBC’s request for comment.

According to Roskomnadzor, speeds will be reduced on all mobile devices and 50% of all non-mobile devices such as computers, it said in a statement on its website.

Roskomnadzor accused Twitter of not removing content that encourages minors to commit suicide, as well as child pornography and drug use.

The regulator asked Twitter to remove links and posts more than 28,000 times between 2017 and March 2021. Other social networks have been more cooperative than Twitter to remove content that encourages minors to commit suicide.

Russia’s move to curb Twitter follows similar actions by governments in Turkey and India, which have also threatened jail sentences for platform managers.

Matt Navara, a social media advisor, told CNBC that the “threat of restricting, blocking, or banning social media platforms appears to be a growing trend for countries notorious for tougher, less democratic regimes” .

Social media platforms are in a constant battle to keep inappropriate content off their platforms. Facebook, TikTok, YouTube, and Twitter all use a combination of software and human content moderators to monitor what’s being shared on their platforms, but none of them have really mastered content moderation.

One of the most notorious examples of recent times was the Christchurch shooter who broadcast his mass murder live on Facebook and other platforms. The video was quickly cloned and re-shared by other users, faster than the content moderators could remove, and it remained on Facebook for a few weeks after the attack.

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Alaska Is First State to Supply Vaccines to All Residents 16 and Over

Anyone 16 or older who live or work in Alaska is now eligible for the vaccine, Governor Mike Dunleavy said Tuesday evening. This makes it the first state to grant all residents access to the vaccine.

Alaska has 16 percent of its population fully vaccinated, the highest in the country, according to a New York Times database.

“If Alaskans had any questions about vaccine eligibility and criteria, I hope today’s announcement clears that up for you,” said Adam Crum, commissioner for the state Department of Health. “Simply put, you are eligible to receive the vaccine.”

Mr Dunleavy encouraged all “Alaskans who are considering” to get vaccinated, adding that the vaccine “now gives us an opportunity in Alaska to outperform other states.”

The Alaska announcement came as other states are rapidly expanding access to vaccines. New York and Minnesota announced Tuesday that they would allow large swaths of their populations to do so.

The pace of vaccination in the United States has continued to accelerate. About 2.15 million doses are administered daily, according to a New York Times database. The Centers for Disease Control and Prevention announced Tuesday that about 61.1 million people had received at least one dose of a Covid-19 vaccine, including about 32.1 million people completely using Johnson’s single-dose vaccine & Johnson or the two-dose vaccination series from Pfizer-BioNTech and Moderna.

Some parts of Alaska have reached 90 percent vaccination rates among seniors, the governor said in a statement. In the Nome Census Area, over 60 percent of residents aged 16 and over received at least one shot.

“We want to get our economy up and running again. We want to get our society up and running again, ”said Dunleavy. “We want to leave this virus behind us – as far as possible, as quickly as possible.”

The Pfizer vaccine is available to people aged 16 and over in Alaska, while Johnson & Johnson and Moderna vaccines are available to people aged 18 years and over.

New York Governor Andrew M. Cuomo said Tuesday that his state would lower the age threshold for Covid-19 vaccine approval starting Wednesday so that anyone over the age of 60 can be vaccinated.

New York State will also open vaccination ratings next week for large numbers of publicly available workers, including government employees, nonprofits and essential building services workers. These people can start vaccinating on March 17th.

New York will join a handful of other US states in allowing vaccinations for anyone over 60. The majority have set their minimum age for admission to 65 years.

During a performance in Syracuse, Mr. Cuomo pointed to the expected increase in the offer of the federal government as a reason for the expansion of the vaccine authorization.

Workers who can be vaccinated next week include civil servants, social workers and social workers, government inspectors, plumbing workers, election workers, Department of Motor Vehicles and county clerks.

According to Cuomo, appointments for people over 60 will be opened from Wednesday at 8 a.m. People over 65 were able to qualify for a vaccine in January.

Elsewhere, Minnesota Governor Tim Walz announced Tuesday that the state would extend eligibility to more than 1.8 million Minnesotans this week, including key workers in industries such as food services and public transportation, and those 45 and older with at least one underlying medical condition . The announcement is “weeks ahead of schedule,” the governor said in a statement, as the state aims to meet its goal of vaccinating 70 percent of Minnesotans 65 and older this week.

Ohio residents aged 50 and over and people with certain conditions that were not yet eligible can get a vaccine this week, Governor Mike DeWine announced on Monday.

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Shares rally as tech shares mount comeback, Nasdaq jumps greater than 4%

US stocks rose Tuesday after a decline in bond yields led investors into the battered tech sector.

The tech-heavy Nasdaq Composite rose 4.2%, hitting its best day since April 2020. Tesla stock rose 17% after a five-day streak of bad luck, heading for its biggest one-day pop since February 2020. Apple, Facebook and Amazon jumped 4% each, while Microsoft and Netflix both gained at least 3%.

The Dow Jones Industrial Average rose 250 points after hitting an intraday high at the start of the session. The S&P 500 gained 2%.

Technology stocks bounced back from heavy losses as bond yields stabilized. The 10-year government bond yield fell more than 4 basis points to 1.54%. The key interest rate stood at 1.62% on Monday.

“After lagging heavily over the past few weeks, growth / momentum stocks are exploding higher as investors get a little more comfortable with interest rates and buy what was once the most popular sector,” said Adam Crisafulli, founder of Vital Knowledge. in a note.

The Nasdaq lost 2.4% in the previous session, closing more than 10% below its February 12 high and falling into correction territory. Lately, high-growth names have come under pressure as rising interest rates make their future earnings less valuable today, making it difficult to justify the stocks’ high valuations.

Many popular technology stocks have fallen double digits over the past month on fear of interest rates. Apple is down 10% in the last month while Tesla is down more than 20%. Pandemic betting Zoom Video and Peloton fell more than 20% over the same period.

“Many of these technology stocks are oversold in the short term, so it’s no great surprise that they are seeing a good rebound,” said Matt Maley, chief marketing strategist at Miller Tabak. “The question will be whether this jump is a strong one … or a ‘dead cat blow’ that doesn’t last long at all.”

Widely pursued investor Cathie Wood of Ark Investment Management told CNBC on Monday that the recent tech sell-off opened “great opportunities” for her to buy the game-only names in her funds, which focus on disruptive tech stocks.

Wood’s flagship fund Ark Innovation (ARKK) rose 10% on Tuesday, marking the best day ever.

Meanwhile, the rally took a breather as games and cyclical stocks reopened on Tuesday. Energy was the only red sector to decline 0.7% after rising 9% this month alone. Financial stocks and industrial stocks also underperformed.

The Senate’s approval of the $ 1.9 trillion Economic Facilitation and Incentive Act had investors continue to turn to these areas of the market looking for an economic recovery. House Democrats want to pass the bill on Wednesday so President Joe Biden can sign it by the weekend.

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E.U. Parliament Strips Carles Puigdemont of Immunity

MADRID – The European Parliament has stripped of the immunity of Carles Puigdemont, the former separatist leader of Catalonia, clearing the way for Spain to make another attempt to extradite him from Belgium and convict him of sedition.

The European Parliament announced on Tuesday that the day before, a majority of its members had voted in a secret ballot for the lifting of the immunity of Mr Puigdemont and two other Catalan members of the Assembly who, in Spain because of a botched attempt to declare Catalonia, were charged independence in 2017. The Spanish judiciary has argued that their offer was unconstitutional.

Monday’s vote ended a protracted struggle by Mr Puigdemont and his colleagues to use their protection as elected members of the European Assembly to protect them from prosecution in Spain. It is now up to the Belgian judiciary to decide whether Mr Puigdemont should be sent back to the Spanish capital, Madrid, to be tried there.

“It is a sad day for the European Parliament,” said Puigdemont. “We have lost our immunity, but the European Parliament has lost more than that and, as a result, European democracy,” he said, adding that this was “a clear case of political persecution”.

The Spanish government welcomed the vote.

“The problems of Catalonia are not being solved in Europe or by Europe. They must be resolved in Spain by bringing all the Catalan armed forces to the table, ”said Foreign Minister Arancha González Laya. The vote showed that the European Parliament “respects the work of the judiciary in our country,” she added.

The decision of the European Parliament comes just a few weeks after the regional elections in Catalonia, which increased the majority of independent parties in the regional parliament. Separatist politicians have been in control since 2015, but the secession conflict has divided Catalan society while remaining a highly controversial issue in national politics.

Mr Puigdemont and some of his colleagues have been in Brussels since October 2017, shortly after the Spanish central government overthrew its regional government for holding a referendum that Spanish courts ruled illegal and then declared Catalonia’s independence.

In the past three years, Mr Puigdemont has successfully fended off attempts to extradite him from Belgium and Germany, where he was briefly arrested during a trip.

In January, judges in Belgium also denied a motion to extradite another former member of the Catalan regional government, Lluis Puig, who is facing similar charges in Spain. The Belgian court argued that the Spanish Supreme Court did not have the power to issue an arrest warrant for Mr Puig, adding that he should be brought before a regional court.

However, part of Mr Puigdemont’s previous government remained in Spain and stood before the country’s Supreme Court. Nine Catalans have been sentenced to prison terms after being convicted of crimes such as sedition and misuse of public funds.

A former Catalan leader, Oriol Junqueras, was also prevented from taking his seat in the European Parliament by the Spanish Supreme Court. Both he and Mr Puigdemont were elected to the assembly in 2019.

The European Parliament vote will allow a Spanish judge to reactivate a European arrest warrant against Mr Puigdemont, which was suspended in early 2020 when Mr Puigdemont and his colleagues took their seats in the European Assembly.

The Catalan heads of state and government are not the first members of the European Parliament to be deprived of immunity.

In 2019 the European Parliament lifted the immunity of Jean-Marie Le Pen, founder of the far-right party of the National Front in France. The case of Ioannis Lagos, convicted last year in Greece for his activities with the far-right Golden Dawn party, is still under investigation. The Greek government regards Golden Dawn as a criminal organization.

The Catalan case has divided politicians in Brussels, many of whom refuse to set a precedent for lawmakers to be brought to justice for political activity. The waiver of Mr Puigdemont’s immunity was approved by three fifths of the Members of the European Parliament.

It could take months for Belgian courts to rule on Spain’s latest extradition attempt against Mr Puigdemont and the other two Catalan leaders Antoni Comín and Clara Ponsatí.

The Brussels public prosecutor is currently examining the possibility of extending the legal proceedings in Belgium, said a spokeswoman for the public prosecutor.

Should the Belgian courts block the extradition request, the Catalans would still sit in the European Parliament, but without special immunity rights.

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Gender a significant work, alternative barrier for girls in Asia

With another International Women’s Day just around the corner, companies have made bold pledges to empower their women workers and strive for equality. Still, in 2021, many women say that their gender is a major barrier to their professional development.

A full third of women in Asia Pacific report that their gender is a significant barrier to opportunity due to the lack of guidance, skills, and time they receive as women. This comes from LinkedIn’s Opportunity Index 2021.

As a result, two in five (41%) female professionals in the region believe they have fewer opportunities for professional development than men.

The report, polling 10,000 workers in Australia, China, India, Japan, Malaysia, the Philippines and Singapore, shows the persistent barriers women face in their professional development and their impact on society.

10,000 hours | DigitalVision | Getty Images

While seven out of ten respondents said that gender equality is important for a fair society, four in ten said that this is not possible due to fundamental differences between men and women.

Corporations and governments have fought against this narrative. After all, the economy speaks for itself: Higher employment rates for women could increase the gross domestic product of the OECD countries by 6 trillion US dollars.

Gender equality is still not a top 10 priority for 70% of businesses, according to IBM’s new Women, Leadership and Missed Opportunities report. In fact, it turns out that the number of women in management positions has barely changed in the past two years and there are fewer women in the pipeline to fill management positions today than in 2019.

The pandemic has only exacerbated these shortcomings.

PwC’s 2021 Women in Work Index found that progress among women could be back to 2017 levels by the end of the year, as women are said to be harder hit by the pandemic. This is in large part due to the disproportionate burden on childcare by women. Mothers currently spend an average of 31 hours a week on caring tasks – almost equivalent to doing another full-time job.

Still, there are important steps businesses and individuals can take to alleviate this burden.

What women can do to overcome career barriers

Feon Ang, vice president of talent and learning solutions at LinkedIn, advised women to be clear about their ambitions and the professional goals they want to achieve.

“Understanding your personal strengths and your passions is really important,” she told CNBC Make It.

For Ang, that was “the connection between what is happening externally and how it affects your career”. When she realized “everyone was talking about YK2” in 1997 (the year 2000), she began a career in engineering. Seeing the hype surrounding social media in 2013, she joined LinkedIn.

Feon Ang, LinkedIn Vice President, Talent and Learning Solutions for Asia Pacific.

LinkedIn

After identifying these goals, women should be open to them and make it clear to business leaders where they want to go, she said. An attorney or sponsor can help and act as a representative or supporter among other high-ranking figures.

“More than just mentoring, you will find people to sponsor, someone who will be committed to helping you move forward,” Ang said.

“Of course, you have to do a good job because no leader will stand up for you, if not. You also have to show your ability to grow and be open-minded. This constant retraining is important for everyone, be it men or women.” added.

What bosses can do to bridge the gender gap

In a blog post, Ang also outlined specific steps bosses and organizations can take to achieve greater equality in the workplace.

  1. Have conversations about diversity and inclusion – According to LinkedIn, less than a quarter (23%) of Asia Pacific professionals strongly agree that gender diversity is a priority for their organization. Organizations and managers can change this narrative by running workshops on diversity, equity and inclusion and taking advantage of free online training.
  2. Increase the number of women in leadership positions – In Asia Pacific organizations, women make up an average of only 39% of the workforce. For female executives, this figure is even lower at 30% and below. Companies can reduce this inequality by introducing female management quotas and leadership pipelines for promising young talent.
  3. Establish family-friendly policies and flexibility programs – Nearly half (45%) of women in Asia Pacific said that managing family responsibilities often impedes their professional development. Organizations can reduce this burden by implementing supportive policies to give parents and carers additional time and flexibility when needed.
  4. Start mentoring programs and community groups – A lack of career guidance and support is one of the top three hurdles facing working women in the Asia-Pacific region, according to the LinkedIn study. Professional networking groups and mentoring programs can help fill this gap and enable problem sharing and resolution in supportive circles.
  5. Help women learn new skills and look for opportunities – Women need access to relevant knowledge and experience in order to progress, but lack of skills is seen as one of the main obstacles holding women back. Businesses can help fill this gap by investing in regular learning and development programs to help women stay up to date on their career path.

“There is strength in numbers,” Ang said. “As more organizations come together, we can do more to achieve equitable recovery for all. It always starts with a small step – from promoting open conversation about diversity and equality to advocate practical initiatives from flexible working hours to mentoring programs. “

Don’t Miss: Women need better control over their personal finances. Here is how

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Vaccinated People, Let the Unmasked Gatherings Start (however Begin Small)

Federal health officials said Monday, millions of Americans now vaccinated against the coronavirus, they could resume some long-denied freedoms, like gathering in small groups at home without masks or social distancing for a hopeful glimpse into the next phase of the game Grant pandemic.

The recommendations from the Centers for Disease Control and Prevention came almost exactly a year after the virus began to strangle the country and Americans were warned about gatherings for fear of spreading the new pathogen.

Now the agency has good news for long separated families and individuals struggling with pandemic isolation: Vaccinated grandparents can, under certain circumstances, visit adult children and grandchildren again, even if they are not vaccinated. Vaccinated adults can begin planning mask-free dinners with vaccinated friends.

As cases and deaths decline across the country, some state officials are rushing to reopen businesses and schools. Texas and Mississippi governors have repealed statewide mask mandates. Federal health officials have repeatedly warned against easing restrictions too quickly, fearing the measures could set the stage for a fourth surge in infections and deaths.

The new recommendations are designed to put Americans on a more cautious path with clear boundaries for safe behavior, while recognizing that most of the country remains vulnerable and many scientific questions remain unanswered.

“As more Americans get vaccinated, there is increasing evidence that there are some activities that fully vaccinated people can be reintroduced with little risk to themselves,” said Dr. Rochelle P. Walensky, director of the CDC, at a White house news conference on Monday.

On Thursday, President Biden will make his first prime-time televised address, mentioning the first anniversary of the pandemic outbreak and “highlighting the role Americans will play” in “getting the country back to normal,” Jen Psaki, who White House press secretary, told reporters on Monday.

As of Monday, 60 million Americans had received at least one dose of a Covid-19 vaccine, and about 31.3 million had been fully vaccinated, according to a database maintained by the New York Times. The providers administer an average of about 2.17 million doses per day.

Mr Biden has promised that there will be enough doses for every American adult by the end of May. CDC officials on Monday encouraged people to get the first vaccine available, stressing that the vaccines are highly effective against “serious Covid-19 disease, hospitalization and death”.

Despite the rapidly accelerating pace of vaccination, the pandemic won’t recede overnight, said experts, who praised the detail and scientific basis of the CDC’s recommendations.

“This is not a turn on and off,” said Dr. Carlos del Rio, Vice President of the Infectious Diseases Society of America. “It’s more like turning a faucet – you slowly start turning the faucet off.”

Even so, “it’s welcome news,” he added. “It’s the first time they say you can do something instead of saying everything you can’t. It’s huge. “

The new guidelines provide much-needed advice to those who are unwilling to resume face-to-face interactions even after vaccination, said Vaile Wright, senior director of healthcare innovation for the American Psychological Association.

About half of all adults are concerned about going back to normal life, including 44 percent of those who have been fully vaccinated, said Dr. Wright, citing shortly published research by the American Psychological Association. “What drives this discomfort is the uncertainty,” she said.

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March 8, 2021, 6:13 p.m. ET

“It’s really hard to know what is safe and what is not. If we can give people science-based information – “Here’s what you can do, but we still recommend it” – people will get what they need to make informed decisions about the safety of themselves and their families to meet. “

In the new guidelines, federal health officials indicated that fully vaccinated Americans can gather in small groups with other fully vaccinated individuals in private homes, with no masks or distancing.

You can gather with unvaccinated individuals in a private household without a mask or distancing, as long as the unvaccinated individuals occupy a single household and all members have a low risk of developing serious illness if they contract the virus.

For example, vaccinated grandparents can visit unvaccinated healthy adult children and healthy grandchildren without masks or physical distance.

When asked if vaccinated family members should kiss and hug children and grandchildren who are not vaccinated, Dr. del Rio yes, but advised caution: “I would not overdo it.”

In public areas and in places such as restaurants or gyms, vaccinated people should continue to wear masks, maintain social distance, and take other precautions, such as B. Avoid poorly ventilated rooms, cover coughs and sneezes, and wash their hands frequently, CDC officials said.

The CDC’s advice is for Americans who are fully vaccinated, that is, those for whom at least two weeks have passed since they received the second dose of the Pfizer BioNTech or Moderna vaccines, or a single dose of the Johnson & Johnson vaccine .

What you need to know about the vaccine rollout

What is safe for newly vaccinated Americans and their unvaccinated neighbors and family members has been largely uncertain as scientists do not yet understand whether and how often vaccinated people can still transmit the virus. If possible, masking and other precautions are still needed in certain environments to contain the virus, the researchers said.

The CDC said Monday that research showed that people who are fully vaccinated are less likely to have asymptomatic infections and “may be less likely to spread the virus that causes Covid-19 to other people”. However, the agency didn’t rule out the possibility that they could accidentally transmit the virus.

There is also uncertainty about how well vaccines protect against new variants of the virus that are more transmissible and potentially more virulent, as well as how long the vaccine protection lasts. Some of the variants carry mutations that seem to dull the body’s immune response.

The CDC noted that vaccinated Americans do not need to be quarantined or tested if exposed to the virus unless they develop symptoms of infection. If they do, isolate themselves, get tested if possible, and speak to their doctors.

Vaccinated Americans should not congregate with unvaccinated people from more than one household and should continue to avoid large and medium-sized gatherings. (The agency did not specify what size a large or medium congregation would be.)

The guidelines differ slightly for fully vaccinated group home residents and incarcerated individuals who, due to the higher risk of transmission in such environments, should continue to be quarantined and tested for 14 days if exposed to the virus.

Vaccinated workers in high density environments such as meat packing plants do not need to be quarantined after exposure to the coronavirus, but testing is still recommended.

The CDC has not revised its travel advice and has continued to advise that all Americans stay home unless necessary. Dr. Walensky noted that the virus cases had increased every time the trip increased.

“We’re really trying to limit travel,” she said. “And we hope our next guidelines will have more science on what vaccinated people can do, maybe travel among them.”

The new guidelines clearly outline the rewards of vaccination and are likely to motivate even more Americans to seek vaccinations and curb persistent vaccine hesitation, said Dr. Rebecca Weintraub, Assistant Professor of Global Health and Social Medicine at Harvard Medical School.

“You can resume an activity that many people long for – being around the people they love, in small gatherings where you can see each other smile and hug each other,” said Dr. Grapes.

“It has been well researched that anticipation is an integral part of joy,” she added. “These guidelines will help any person receiving a vaccine anticipate future joy. As a doctor and a vaccine, I’m excited. “

Noah Weiland contributed to the reporting.