Nations Crack Down on TikTok

The Biden administration has demanded that TikTok’s Chinese owners divest their stakes in the popular video app or face a possible U.S. ban, the company told Reuters this week.

The move follows the introduction of a new U.S. legislation that would allow the White House to ban TikTok or other foreign-based technologies if they pose a national security risk.

Other countries and entities have also elected to ban the app.

TikTok is owned by China-based ByteDance, the world’s most valuable start-up. Numerous countries have raised concerns over its proximity to the Chinese government and hold over user data across the world.

Here is a list of countries and entities that have implemented a partial or complete ban on TikTok:

New Zealand

Became the latest country to target TikTok, imposing a ban on the use of the app on devices with access to the parliamentary network amid cybersecurity concerns.

United Kingdom

Would ban TikTok on government phones with immediate effect, and asked the National Cyber Security Centre to look at the potential vulnerability of government data from social media apps and risks around how sensitive information could be accessed and used.

India

Banned TikTok and dozens of other apps by Chinese developers on all devices in June 2020, claiming that they were potentially harmful to the country’s security and integrity.

Afghanistan

Is in talks to ban TikTok and video game PUBG, with the Taliban claiming those were leading Afghan youths “astray.”

Pakistan

Banned TikTok at least four times, with the latest ban ending in November, over what the government said was immoral and indecent content on the app.

Belgium

Belgian federal government employees will no longer be allowed to use TikTok on their work phones, Belgian Prime Minister Alexander De Croo said on March 10.

Canada

The nation has banned TikTok on government-issued devices due to security risks.

Taiwan

Banned TikTok and some other Chinese apps on state-owned devices and in December 2022 launched a probe into the social media app over suspected illegal operations on the island.

United States

The U.S. government’s Committee on Foreign Investment in the United States (CFIUS), a powerful national security body, in 2020 unanimously recommended ByteDance divest TikTok because of fears that user data could be passed on to China’s government.

In early March, legislators from both major U.S. parties introduced a bill to ban the popular app in the United States.

Congress previously passed a bill in December 2022 to ban TikTok on federal devices.

US educational institutions

Boise State University, the University of Oklahoma, the University of Texas-Austin, and West Texas A&M University are some of the schools to ban TikTok on university devices and Wi-Fi networks.

US states

Texas, Maryland, Alabama and Utah are among the more than 25 states that have issued orders to staff against using TikTok on government devices.

European Commission and European Parliament

The European Union’s executive arm, the European Commission, has issued an order to ban the use of popular Chinese app TikTok on its staff’s phones due to cybersecurity concerns. Separately, the European Parliament also banned the app from staff phones.

Water Experts Look to Change Attitudes, Policies

Lack of access to clean drinking water is being exacerbated by climate change. In fact, less than 1% of the world’s water is fresh and accessible, according to Melissa Ho, senior vice president of freshwater and food at the World Wildlife Fund (WWF).

“Although we see water all around the planet, we do not necessarily realize what a precious and finite resource it is,” she said.

Ho cited that statistic during “This is Climate: Water,” a Washington Post event that featured leaders at the forefront of water crisis initiatives discussing possible solutions to address global water inequities and the role of water in sustainable development.

Ahead of Wednesday’s World Water Day, Colorado Sen. John Hickenlooper outlined growing demands on the Colorado River, which drains a watershed from seven Western U.S. states and Mexico.

While lack of access to clean water is especially prevalent in developing nations, more than 2 million Americans are without running water in their homes.

“In the U.S., race is the No. 1 predictor of water access,” said DigDeep co-CEO Julie Waechter. “Native American households are 19 times more likely than white households to not have running water, and Black and Latino households are twice as likely.”

According to Waechter, when water infrastructure was expanded in the U.S., “many communities of color were not included in that expansion.”

“So communities of color that are trying to catch up and get that water infrastructure are having a really hard time finding the funding to do that.”

WWF’s Ho said women and girls are disproportionately affected by inaccessible water, with millions of girls worldwide routinely walking more than 3 kilometers to fetch water. “Think of what that means for their safety and health and access to schooling and educational opportunities,” she added.

Contaminated water in US

Even when water is accessible, in too many instances it is unsafe to drink. Ho said water quality is an issue that should be of “prime concern” given that chemicals, heavy metals, hormones and other potentially toxic substances are routinely present in the U.S. water supply.

The White House on Tuesday announced the first-ever national drinking water standard for six polyfluoroalkyl substances (PFAS), also referred to as “forever chemicals.” The proposal would enforce limits on the amount of PFAS allowed in drinking water.

Water use in industry

Speakers also addressed the use of water in industry, where it’s needed but often wasted.

In the United States, agriculture, including farming and ranching, is the biggest user of water, with 70% of fresh water going to agriculture. World Environment Center CEO Glenn Prickett said that makes farmers “also the most vulnerable to climate impacts in terms of drought or flooding.”

With all industries depending on water in some way, limited availability of water worsened by climate change is an economic reality.

“Water scarcity is a key portion of what companies should be thinking about as they think about their water sustainability programs so that they can be more water resilient into the future,” said Calvin Emanuel, vice president and general manager of Sustainable Growth Solutions at Ecolab. “It has to be a part of their growth strategy and path forward.”

“Some are obvious, like food and beverage manufacturing,” Prickett said, “but others may be less obvious but highly valuable to our economy, like fabrication of microchips or data centers for the cloud or chemical manufacturing. All use water, and if they didn’t have it, it would be a big impact on their business and their profitability.”

Environmental activist Alexia Leclercq closed the session with thoughts on how activists are trying to conserve clean water sources for future generations.

“Not to diminish the complexity of policy and of these solutions that we direly need, but I think that if we shift away from prioritizing profit, I think that gives us a lot of space to imagine what our future could look like and actually put our resources towards finding those solutions and working on those solutions,” the Start: Empowerment co-founder said. “It’s really limitless what we can create.”

White House Voices Support for Bipartisan Push to Ban TikTok

Time may be running out in the U.S. for Chinese-owned entertainment platform TikTok, with the White House on Thursday supporting proposed legislation that would effectively ban the app over concerns about the safety of the data of the 100 million Americans who use the trendy video platform.

“The bottom line is that when it comes to potential threats to our national security, when it comes to the safety of Americans, when it comes to privacy, we’re going to speak out, and we’re going to be very clear about that, and the president has been over the last two years,” said White House press secretary Karine Jean-Pierre.

“And so we’re asking Congress to act, we’re asking Congress to move forward with this bipartisan legislation, the RESTRICT Act … and we’re going to continue to do so,” Jean-Pierre said.

When asked if the administration had any concrete evidence that the platform has used data maliciously, she pointed to an ongoing study by the Committee on Foreign Investment in the United States (CFIUS) and said the White House was “not going to get ahead of their process.”

The CFIUS is an inter-agency panel that reviews certain transactions involving foreign investment and national security concerns.

Also Thursday, the U.K. prohibited the use of the app on government-issued devices – a move already imposed by the U.S., the European Union, Canada and India. And in the U.S., other entities, such as universities, have banned use of the app on their networks.

Earlier this week, TikTok leadership told U.S. media that the Biden administration has demanded that the platform’s Chinese owners divest their stakes or face a ban, issuing a statement that said “a change in ownership would not impose any new restrictions on data flows or access.”

In recent weeks, the company has been promoting its $1.5 billion plan, called “Project Texas,” for the Texas software company it has partnered with to construct a firewall between U.S. users and ownership in Beijing.

“The best way to address concerns about national security is with the transparent, U.S.-based protection of U.S. user data and systems, with robust third-party monitoring, vetting, and verification, which we are already implementing,” the statement read.

A Trojan giraffe or just a chocolate one?

TikTok, which is owned by China’s ByteDance, is best known for its bite-sized dance videos and unconventional recipes — one video providing a tutorial for Flamin’ Hot Cheetos macaroni and cheese provoked more than 24,000 reactions, including one commenter who described the recipe as “worse than first-degree murder.” It also has offered some truly revelatory feats of food engineering, like the French pastry chef who made an impressively realistic 8-foot-tall giraffe out of chocolate.

But critics of the platform say its close ties to the Chinese government make it a Trojan horse: Once the compelling app gains entry to users’ devices, it then has access to their data and information.

Earlier in March, a bipartisan group of U.S. senators introduced the RESTRICT Act, which stands for “Restricting the Emergence of Security Threats that Risk Information and Communications Technology.”

“Over the past several years, foreign adversaries of the United States have encroached on American markets through technology products that steal sensitive location and identifying information of U.S. citizens, including social media platforms like TikTok,” said Senator Joe Manchin, a Democrat. “This dangerous new internet infrastructure poses serious risks to our nation’s economic and national security.”

Senator Mark Warner, also a Democrat, one of the bill’s main sponsors, is calling for “a comprehensive, risk-based approach that proactively tackles sources of potentially dangerous technology before they gain a foothold in America, so we aren’t playing Whac-A-Mole [dealing with a recurring problem with no solution] and scrambling to catch up once they’re already ubiquitous.”

This is not the first time the White House has gone after the popular video service — the Trump administration also pushed the platform to divest. In 2020, CFIUS unanimously recommended that ByteDance divest the platform. The company tried to make a deal with Walmart, the largest U.S. retailer, and Austin, Texas-based Oracle Corp. to shift its assets into a new entity.

But analysts are divided on the next move.

“A forced sale is the right move,” said Lindsay Gorman, senior fellow for emerging technologies at the Alliance for Securing Democracy at the German Marshall Fund of the United States.

“The app gives a name and a face to the export of China’s surveillance state around the world. But now there’s bipartisan consensus that TikTok poses a national security threat to the United States’ democracy. The China tech threat — today exemplified by TikTok — may be the only thing Congress agrees on,” Gorman said.

Caitlin Chin, a fellow with the Strategic Technologies Program at the Center for Strategic and International Studies, said stopping TikTok won’t solve the larger issue over apps using data maliciously.

“The strongest approach would be for Congress to establish comprehensive rules across the entire data ecosystem that would limit how all companies — including TikTok — use personal information in ways that could amplify the spread of harmful content,” she said.

“Policymakers should take popular interest in TikTok as an opportunity to implement industrywide protections that could benefit all of society, rather than just a messaging tool primarily geared toward the Chinese Communist Party,” Chin said.

Some information in this article came from Reuters.

US Military Moves to Cut Suicides, But Defers Action on Guns

U.S. Defense Secretary Lloyd Austin ordered a number of improvements in access to mental health care on Thursday to reduce suicides in the military but held off on endorsing more controversial recommendations to restrict gun and ammunition purchases by young troops, sending them to another panel for study.

An independent committee in late February recommended that the Defense Department implement a series of gun safety measures, including waiting periods for the purchase of firearms and ammunition by service members on military property and raising the minimum age for service members to buy guns and ammunition to 25.

In a memo released Thursday, Austin called for the establishment of a suicide prevention working group to “assess the advisability and feasibility” of recommendations made by the initial study committee — which would include the gun measures. He also asked for cost estimates and a description of any “barriers” to implementing other changes and set a deadline of June 2 for that report. At no point did he specifically refer to the gun proposals or mention gun safety.

Growing concern 

Austin’s orders reflect increasing concerns about suicides in the military despite more than a decade of programs and other efforts to prevent them and spur greater intervention by commanders, friends and family members. But his omission of any gun safety and control measures underscores the likelihood that they would face staunch resistance, particularly in Congress, where such legislation has struggled in recent years.

The more immediate changes address broader access to care.

To more quickly provide help for troops who might be struggling, Austin directed the Pentagon to hire more behavioral health specialists and implement a scheduling system for appointments where patients receive multiple health care visits weekly when they first seek care.

Austin also ordered military primary care health clinics to screen for unhealthy levels of alcohol use, make unhealthy alcohol use treatment easier to receive, and make sure mental health care is available through service members’ primary care as well.

“The mental health support available for our teammates must be comprehensive and easy to access,” Austin said in the memo.

Brigadier General Pat Ryder, the Pentagon press secretary, told reporters in a briefing Thursday that Austin’s orders involved areas where the department already has the authority to take immediate steps.

“While we recognize that suicide has no single cause, and that no single preventative action, treatment or cure will eliminate suicide altogether, we will exhaust every effort to promote the wellness, health and morale of our total force,” Ryder said.

Committee recommends rules about firearms

The initial study committee recommended that the department require anyone living in military housing to register all privately owned firearms. In addition, the panel said the department should restrict the possession and storage of privately owned firearms in military barracks and dorms.

Confirming findings in annual suicide reports, the panel noted that about 66% of all active-duty military suicides — and more than 70% of those by National Guard and Reserve members — are done with firearms. It said reducing access to guns could prevent some deaths.

Craig Bryan, a clinical psychologist and member of the Suicide Prevention and Response Independent Review Committee, said the department should slow down troops’ access to guns — specifically those bought in stores on bases — so people under stress can survive periods of high risk.

He likened the expanded gun safety measures to requirements that the department puts on motorcycle usage — such as mandated helmets — that are often more strict than some state laws. Asked how likely such changes would be, Bryan said he believes troops are more receptive to such limits than civilians might be.

After Spike, US Pregnancy Deaths Drop in 2022

Deaths of pregnant women in the United States fell in 2022, dropping significantly from a six-decade high during the pandemic, new data suggests.

More than 1,200 U.S. women died in 2021 during pregnancy or shortly after childbirth, according to a final tally released Thursday by the Centers for Disease Control and Prevention. In 2022, there were 733 maternal deaths, according to preliminary agency data, though the final number is likely to be higher.

Officials say the 2022 maternal death rate is on track to get close to pre-pandemic levels. But that’s not great: The rate before COVID-19 was the highest it had been in decades.

“From the worst to the near worst? I wouldn’t exactly call that an accomplishment,” said Omari Maynard, a New Yorker whose partner died after childbirth in 2019.

Experts blame COVID-19 

The CDC counts women who die while pregnant, during childbirth, and up to 42 days after birth. Excessive bleeding, blood vessel blockages, and infections are leading causes.

COVID-19 can be particularly dangerous to pregnant women, and experts believe it was the main reason for the 2021 spike. Burned-out physicians could have added to the risk by ignoring pregnant women’s worries, some advocates said.

In 2021, there were about 33 maternal deaths for every 100,000 live births. The last time the government recorded a rate that high was 1964.

What happened “isn’t that hard to explain,” said Eugene Declercq, a longtime maternal mortality researcher at Boston University. “The surge was COVID-related.”

Previous government analyses concluded that one quarter of maternal deaths in 2020 and 2021 were COVID-related — meaning that the entire increase in maternal deaths was due to coronavirus infections or the pandemic’s wider impact on health care. Pregnant women infected with the coronavirus were nearly eight times as likely to die as their uninfected peers, according to a recent study published by BMJ Global Health.

The bodies of pregnant women are already under strain, their heart forced to pump harder. Other health problems can make their condition more fragile. And then on top of that, “COVID is going to make all that much worse,” said Dr. Elizabeth Cherot, chief medical and health officer for the March of Dimes.

It didn’t help that vaccination rates among pregnant women were low in 2021 — particularly among Black women. Part of that was related to limited vaccine availability, and that the CDC did not fully recommend shots for pregnant women until August 2021.

“Initially, there was a lot of mistrust of the vaccine in Black communities,” said Samantha Griffin, who owns a doula service that mainly serves families of color in the Washington area.

But there’s more to it than that, she and others added. The 2021 maternal mortality rate for Black women was nearly three times higher than it was for white women. And the maternal death rate for Hispanic American women that year rose 54% compared with 2020, also surpassing the death rate for white moms.

More than a year into the pandemic, a lot of doctors and nurses were feeling burned out and they were getting less in-person time with patients.

Providers at the time “were needing to make snap decisions and maybe not listening to their patients as much,” Griffin said. “Women were saying that they thought something was wrong and they weren’t being heard.”

‘She wasn’t being heard’

Maynard, who is 41 and lives in Brooklyn, said he and his partner experienced that in 2019.

Shamony Gibson, a healthy 30-year-old, was set to have their second child. The pregnancy was smooth until her contractions stopped progressing and she underwent a cesarean section.

The operation was more involved than expected but their son Khari was born in September. A few days later, Shamony began complaining of chest pains and shortness of breath, Maynard said. Doctors told her she just needed to relax and let her body rest from the pregnancy, he said.

More than a week after giving birth, her health worsened and she begged to go to the hospital. Then her heart stopped, and loved ones called for help. The initial focus for paramedics and firefighters was whether Gibson was taking illicit drugs, Maynard said, adding that she didn’t.

She was hospitalized and died the next day of a blood clot in the lungs. Her son was 13 days old.

“She wasn’t being heard at all,” said Maynard, an artist who now does speaking engagements as a maternal health advocate.

US Treasury Chief: Banking System Is Sound

U.S. Treasury Secretary Janet Yellen told lawmakers on Thursday the U.S. banking system remains sound even though two regional banks failed in the last week.

She told the Senate Finance Committee that Americans “can feel confident” their deposits “will be there when they need them.”

Yellen said the government “took decisive and forceful actions to strengthen public confidence” in the U.S. banking system by ensuring that all depositors, including those holding uninsured funds exceeding $250,000, were protected by federal deposit insurance when Silicon Valley Bank and Signature Bank collapsed.

Some critics of the government’s action have called it a bailout, but investors have lost their financial stakes in the two banks, something that would not occur in the normal definition of a bailout, and their executives have been fired.

Senator Mike Crapo of Idaho, the committee’s lead Republican, said, “I’m concerned about the precedent of guaranteeing all deposits,” calling the federal rescue action a “moral hazard.”

“Nerves are certainly frayed at this moment,” said Democratic committee chairman Senator Ron Wyden. “One of the most important steps the Congress can take now is make sure there are no questions about the full faith and credit of the United States,” referring to raising the country’s $31.4 trillion debt ceiling in the next few months so the government can borrow more money to continue to pay its bills.

Some Republicans have demanded large spending cuts in exchange for raising the debt ceiling, while the White House has requested passage of a debt limit increase that is not tied directly to spending cuts. Both Republican and Democratic lawmakers have said they will not cut health insurance and pensions for older Americans.

Stock markets in both Europe and the U.S. rallied sharply Thursday after Credit Suisse announced it would borrow almost $54 billion from the Swiss central bank to shore up its finances.

TikTok CEO to Testify Before US Congress

TikTok CEO Shou Zi Chew is scheduled to testify before the U.S. House Committee on Energy and Commerce on March 23. Lawmakers have questions about the app’s connections to China. For VOA, Deana Mitchell reports.

Microsoft Unveils AI for Its Office Suite in Increased Competition With Google

Microsoft on Thursday trumpeted its latest plans to put artificial intelligence into the hands of more users, answering a spate of unveilings this week by its rival Google with upgrades to its own widely used office software.

The company previewed a new AI “copilot” for Microsoft 365, its product suite that includes Word documents, Excel spreadsheets, PowerPoint presentations and Outlook emails.  

Going forward, AI can offer a first draft in Microsoft’s applications, speeding up content creation and freeing up workers’ time, the company said.

“We believe this next generation of AI will unlock a new wave of productivity growth,” Satya Nadella, Microsoft’s chief executive, said in a livestreamed presentation.

This week’s drumbeat of news including new funding for AI startup Adept reflects how companies large and small are locked in a fierce competition to deploy software that could reshape how people work. At the center are Microsoft and Google-owner Alphabet Inc, which on Tuesday touted AI features for Gmail and a “magic wand” to draft prose in its own word processor.

The frenzy to invest in and build new products began with the launch last year of ChatGPT, from the Microsoft-backed startup OpenAI. Chatbot showed the potential of so-called large language models, technology that learns from past data how to create content anew. It is rapidly evolving. Just this week, OpenAI began the release of a more powerful version known as GPT-4.

Central Africa Calls for Investments to Counter Impact of Russia’s War

Central African economy ministers are calling for investing in energy and farming as Africa’s poorest region struggles to recover from natural disasters, armed conflicts, and fallout from Russia’s invasion of Ukraine.  Heads of state from the six nations of regional bloc CEMAC meet Friday to discuss the challenges. 

Economy and integration ministers of the Central African Economic and Monetary Community, CEMAC, say most of their 55 million civilians live in abject poverty that has only been made worse by the last few years of global troubles.

Ministers of the six-nation-bloc, which includes Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of Congo, met Thursday in Yaoundé.

President of CEMAC Daniel Ona Ondo, who was born in Gabon, said Russia’s invasion of Ukraine is the latest in a series of global disasters to impact the region.

He said the ministers’ meeting strongly recommended huge investments in agriculture and energy to end over dependency on imported food and petroleum products from Russia and Ukraine.

Before Russia’s invasion of its neighbor, Central African states’ imports from Russia and Ukraine accounted for 60 percent of their fuel and 80 percent of their wheat.

Last July, Cameroon, the Central African Republic, and Gabon reported fuel shortages they blamed on disruptions from Russia’s war.

CEMAC says the war caused a sharp increase in prices that member states paid for fuel and fertilizers and added pressure on the region’s farmers, who were already struggling from conflict and climate shocks.

Ondo said armed conflicts and political unrest in the region also added to the challenge for economies to recover from the COVID-19 pandemic.

Despite the setbacks, Cameroon’s Minister of the Economy Alamine Ousman Mey voiced an optimistic outlook.

Mey is also president of CEMACs council of ministers of the economy and integration.

He said although central African states face many security and environmental shocks, and an influx of refugees and displaced persons, Cameroon, Chad, Equatorial Guinea, Gabon, the Central African Republic, and the Republic of Congo have shown resilience.  Mey said the economic growth rate was maintained at three percent in 2022.  He said CEMAC will always work for the interest of its people despite the challenging world economy and severe crises.

The ministers said they will propose a plan for improving conditions through energy and farming when heads of state meet in Yaoundé on March 17.

Ernest Moloua is an economist at the Cameroon’s University of Buea.

He said the region’s leaders should push harder for the free movement of people and goods as part of the African Continental Free Trade Area.

Speaking via messaging app from Buea, he says the trade deal provides a lot of opportunities for CEMAC if the heads of state take it seriously.

“The most important thing for CEMAC is to improve on public infrastructure, improve on the communication and telecommunication infrastructure, improvement of roads, improvement of railway links.  When this happens then the region places itself in an advantageous position to reap the benefits that will come from the continental free trade area,” said Moloua.

CEMAC says Friday’s heads of state summit will focus on structural reforms to deal with the economic consequences of the COVID pandemic and Russia’s war on Ukraine.

EU to Unveil Green Tech Plans to Take on US, China

The EU will reveal hotly debated proposals Thursday to boost spending on clean tech, possibly overcoming internal divisions to include nuclear energy in the mix, to confront growing industrial competition from the United States and China.

Brussels wants to protect European businesses by prioritizing green technologies, including solar and wind, for more financing and greater regulatory freedom.

The European Commission, the EU’s executive arm, will publish draft plans for a Net Zero Industry Act on Thursday to meet its ambitious target to become a “climate neutral” economy with zero greenhouse gas emissions by 2050.

The proposal was to be made public Tuesday, but a standoff in the commission over whether to include nuclear power, a low-carbon energy, delayed the announcement. Heated discussion was expected until the last minute.

Another landmark draft regulation will also be unveiled on Thursday that aims to secure supplies of critical raw materials needed to make the most of the electrical products consumers use today, including smartphones and electric vehicles.

Green technology production took on greater urgency after the United States unveiled a $370 billion “buy American” subsidy program for tax credits and clean energy subsidies, known as the Inflation Reduction Act (IRA) last year.

European businesses have warned that lavish subsidies elsewhere alongside lower energy bills could tempt the continent’s firms to Asia or North America, and EU officials have complained that the IRA will discriminate against Europe’s industry.

Matching subsidies

The commission has toiled over a response to the IRA despite divisions in the 27-member bloc, with some countries arguing for looser subsidy rules to allow them to back their own firms with state aid, and others opposed over fears of triggering a subsidies war.

Last week, the commission loosened state aid rules for green technology and allowed members to match subsidies offered in other states.

The clean technology sector is expected to be worth $630 billion worldwide by 2030, more than three times current levels.

Under draft proposals seen by AFP, the commission now wants at least 40% of green tech to be produced in the EU by 2030.

This will be achieved, the commission hopes, by ensuring businesses obtain permits faster and says public tenders would be considered based on green criteria that could favor European companies.

If nuclear is included as a green technology, that would be a victory for around a dozen countries including France, although there is stringent opposition from anti-nuclear Germany.

Some have questioned the bloc’s “protectionist” objectives.

“The purpose of this law and how the draft was written is not to achieve faster decarbonization, but it’s basically to reshore production and that is a protectionist goal,” said Niclas Poitiers, research fellow at the Brussels-based Bruegel think tank.

“This is about making sure that batteries and solar panels are produced in the EU.”

Commission President Ursula von der Leyen, however, this week dismissed such claims and insisted the proposal was in fact “a very open act.”

‘Vulnerable’ EU

The EU also wants to meet the rapidly growing need for raw materials, much of which it currently imports from China, to avoid relying on one country for a specific product.

When Moscow invaded Ukraine last year, the EU was brought to its knees by higher energy costs as Brussels raced to find fossil fuels elsewhere instead of Russia.

“The EU’s supply of raw materials is highly concentrated on a few countries… This makes us vulnerable to supply disruptions or aggressive actions,” the bloc’s internal market commissioner Thierry Breton said.

According to the leaked proposals, the EU wants the bloc to meet 10% of the demand for mining and extraction of raw materials.

It also says the EU should not rely on one single country for more than 70% of imports for any strategic raw material by 2030.

Credit Suisse Says It Will Borrow up to $53.7 Billion From Central Bank

Credit Suisse announced Thursday that it would borrow almost $54 billion from the Swiss central bank to reinforce the group after a plunge in its share prices.

The disclosure came just hours after the Swiss National Bank said capital and liquidity levels at the lender were adequate for a “systemically important bank,” even as it pledged to make liquidity available if needed.

In a statement, Credit Suisse said the central bank loan of up to $53.7 billion would “support… core businesses and clients,” adding it was also making buyback offers on about $3 billion worth of debt.

“These measures demonstrate decisive action to strengthen Credit Suisse as we continue our strategic transformation to deliver value to our clients and other stakeholders,” CEO Ulrich Koerner said in the statement.

“My team and I are resolved to move forward rapidly to deliver a simpler and more focused bank built around client needs.”

Credit Suisse, hit by a series of scandals in recent years, saw its stock price tumble off a cliff Wednesday after major shareholder Saudi National Bank declined to invest more in the group, citing regulatory constraints.

Its shares fell more than 30% to a record low before regaining ground to end the day 24.24% down, at 1.697 Swiss francs.

Credit Suisse’s market value had already taken a heavy blow this week over fears of contagion from the collapse of two U.S. banks, as well as its annual report citing “material weaknesses” in internal controls.

Mounting concerns

Analysts have warned of mounting concerns over the bank’s viability and the impact on the larger banking sector, as shares of other lenders sank Wednesday after a rebound the day before.

Credit Suisse is one of 30 banks globally deemed too big to fail, forcing it to set aside more cash to weather a crisis.

Neil Wilson, chief market analyst at trading firm Finalto, said Wednesday that if the bank did “run into serious existential trouble, we are in a whole other world of pain.”

In February 2021, Credit Suisse shares were worth 12.78 Swiss francs, but since then, the bank has endured a barrage of problems that have eaten away at its market value.

It was hit by the implosion of U.S. fund Archegos, which cost it more than $5 billion.

Its asset management branch was rocked by the bankruptcy of British financial firm Greensill, in which some $10 billion had been committed through four funds.

The bank booked a net loss of nearly $8 billion for the 2022 financial year.

That came against a backdrop of massive withdrawals of funds by its clients, including in the wealth management sector — one of the activities on which the bank intends to refocus as part of a major restructuring plan.

TikTok Confirms US Urged Parting Ways With ByteDance to Dodge Ban

TikTok confirmed Wednesday that U.S. officials have recommended the popular video-sharing app part ways with its Chinese parent ByteDance to avoid a national ban.

Western powers, including the European Union and the United States, have been taking an increasingly tough approach to the app, citing fears that user data could be used or abused by Chinese officials.

“If protecting national security is the objective, calls for a ban or divestment are unnecessary, as neither option solves the broader industry issues of data access and transfer,” a TikTok spokesperson told AFP.

“We remain confident that the best path forward to addressing concerns about national security is transparent, U.S.-based protection of U.S. user data and systems, with robust third-party monitoring, vetting, and verification.”

The Wall Street Journal and other U.S. news outlets on Wednesday reported that the White House set an ultimatum: if TikTok remains a part of ByteDance, it will be banned in the United States.

“This is all a game of high stakes poker,” Wedbush analyst Dan Ives said in a note to investors.

Washington is “clearly… putting more pressure on ByteDance to strategically sell this key asset in a major move that could have significant ripple impacts,” he continued.

The White House last week welcomed a bill introduced in the U.S. Senate that would allow President Joe Biden to ban TikTok.

The bipartisan bill “would empower the United States government to prevent certain foreign governments from exploiting technology services… in a way that poses risks to Americans’ sensitive data and our national security,” Biden’s national security adviser, Jake Sullivan, said in a statement.

The bill’s introduction and its quick White House backing accelerated the political momentum against TikTok, which is also the target of a separate piece of legislation in the U.S. House of Representatives.

Appearing tough on China is one of the rare issues with potential for bipartisan support in both the Republican-run House and the Senate, where Biden’s Democratic Party holds the majority.

Concern ramped up among American officials earlier this year after a Chinese balloon, which Washington alleged was on a spy mission, flew over U.S. airspace.

TikTok use rocketing

TikTok claims it has more than a billion users worldwide including over 100 million in the United States, where it has become a cultural force, especially among young people.

Activists argue a ban would be an attack on free speech and stifle the export of American culture and values to TikTok users around the world.

U.S. government workers in January were banned from installing TikTok on their government-issued devices.

Civil servants in the European Union and Canada are also barred from downloading the app on their work devices.

According to the Journal report, the ultimatum to TikTok came from the U.S. interagency board charged with assessing risks foreign investments represent to national security.

U.S. officials declined to comment on the report.

TikTok has consistently denied sharing data with Chinese officials and says it has been working with the U.S. authorities for more than two years to address national security concerns.

Time spent by users on TikTok has surpassed that spent on YouTube, Facebook, Instagram or Twitter and is closing in on streaming television titan Netflix, according to market tracker Insider Intelligence.

Future NASA Moonwalkers to Sport Sleeker Spacesuits

Moonwalking astronauts will have sleeker, more flexible spacesuits that come in different sizes when they step onto the lunar surface later this decade. 

Exactly what that looks like remained under wraps. The company designing the next-generation spacesuits, Axiom Space, said Wednesday that it plans to have new versions for training purposes for NASA later this summer. 

The moonsuits will be white like they were during NASA’s Apollo program more than a half-century ago, according to the company. That’s so they can reflect heat and keep future moonwalkers cool. 

The suits will provide greater flexibility and more protection from the moon’s harsh environment, and will come in a wider range of sizes, according to the Houston-based company. 

NASA awarded Axiom Space a $228.5 million contract to provide the outfits for the first moon landing in more than 50 years. The space agency is targeting late 2025 at the earliest to land two astronauts on the moon’s south pole. 

At Wednesday’s event in Houston, an Axiom employee modeled a dark spacesuit, doing squats and twisting at the waist to demonstrate its flexibility. The company said the final version will be different, including the color. 

“I didn’t want anybody to get that mixed up,” said Axiom’s Russell Ralston. 

New York City Office Buildings Lose $400B in 2 Years

With fewer people coming to work at offices in Manhattan, New York City’s commercial real estate market has lost about $400 billion dollars in value since the start of the pandemic. Aron Ranen has this story from the Big Apple.

Scientists Create Mice With Cells From 2 Males for First Time

For the first time, scientists have created baby mice from two males. 

This raises the distant possibility of using the same technique for people — although experts caution that very few mouse embryos developed into live mouse pups, and no one knows whether it would work for humans. 

Still, “It’s a very clever strategy,” said Diana Laird, a stem cell and reproductive expert at the University of California, San Francisco, who was not involved in the research. “It’s an important step in both stem cell and reproductive biology.” 

Scientists described their work in a study published Wednesday in the journal Nature. 

First, they took skin cells from the tails of male mice and transformed them into “induced pluripotent stem cells,” which can develop into many different types of cells or tissues. Then, through a process that involved growing them and treating them with a drug, they converted male mouse stem cells into female cells and produced functional egg cells. Finally, they fertilized those eggs and implanted the embryos into female mice. About 1% of the embryos — 7 out of 630 — grew into live mouse pups. 

The pups appeared to grow normally and were able to become parents themselves in the usual way, research leader Katsuhiko Hayashi of Kyushu University and Osaka University in Japan told fellow scientists at the Third International Summit on Human Genome Editing last week. 

In a commentary published alongside the Nature study, Laird and her colleague, Jonathan Bayerl, said the work “opens up new avenues in reproductive biology and fertility research” for animals and people. Down the road, for example, it might be possible to reproduce endangered mammals from a single male. 

“And it might even provide a template for enabling more people,” such as male same-sex couples, “to have biological children, while circumventing the ethical and legal issues of donor eggs,” they wrote. 

But they raised several cautions. The most notable one: The technique is extremely inefficient. They said it’s unclear why only a tiny fraction of the embryos placed into surrogate mice survived; the reasons could be technical or biological. They also stressed that it’s still too early to know if the protocol would work in human stem cells at all. 

Laird also said scientists need to be mindful of the mutations and errors that may be introduced in a culture dish before using stem cells to make eggs. 

The research is the latest to test new ways to create mouse embryos in the lab. Last summer, scientists in California and Israel created “synthetic” mouse embryos from stem cells without a dad’s sperm or a mom’s egg or womb. Those embryos mirrored natural mouse embryos up to 8 ½ days after fertilization, containing the same structures, including one like a beating heart. Scientists said the feat could eventually lay the foundation for creating synthetic human embryos for research in the future.

European, US Stocks Fall on Global Bank Worries

Stock markets in Europe and the U.S. tumbled Wednesday as investors worried about the stability of global banking systems in the immediate aftermath of the collapse of two American banks.

Major stock indexes in London, Paris and Frankfurt all plunged by more than 3% while three key U.S. indexes — the Dow Jones Industrial Average of 30 key stocks, the broader S&P 500 index and the tech-heavy Nasdaq index — also dropped, although by 1% or less in late-day trading. Asian markets increased, mirroring Tuesday gains in the U.S.

The newest worries centered on Credit Suisse, with shares for the beleaguered Swiss lender falling more than 17% after its biggest shareholder, the Saudi National Bank, said it would not invest more money in it.

Problems at Credit Suisse, with outlets in major global financial centers, predated the U.S. government takeover of operations at Silicon Valley Bank and Signature Bank in the last week.

Credit Suisse said Tuesday that managers had identified “material weaknesses” in the bank’s internal controls on financial reporting as of the end of last year.

But on Wednesday, Credit Suisse chairman Axel Lehmann, speaking at a financial conference in the Saudi capital of Riyadh, defended the bank’s operations, saying, “We already took the medicine” to reduce risks. “We are regulated. We have strong capital ratios, very strong balance sheet. We are all hands on deck.”

But with the drop in the share price for Credit Suisse, bank stocks in Britain, France and Germany also fell sharply, although not by as much as for Credit Suisse.

S&P Global Ratings said on Tuesday that the failures at the two U.S. banks would have little effect on the fortunes of European banks. But the S&P analysts added, “That said, we are mindful that SVB’s failure has shaken confidence.”

Share prices of other U.S. regional banks like Silicon Valley have fallen sharply in recent days.

Some information for this report came from The Associated Press.

Ghanaian Teacher Innovates to Fight ‘Period Poverty’

Every month, young girls in Ghana are forced to miss school days due to menstruation. But a schoolteacher is working to find a solution by providing reusable sanitary pads. Hamza Adams visited a school in Afari, Ghana, and has this story narrated by Salem Solomon.

UN Labor Agency: Key COVID-19 Workers Undervalued, Underpaid, Abused

In the early days of the COVID-19 pandemic, nurses, truck drivers, grocery clerks and other essential workers were hailed as heroes.

“Now we are vilifying them … and this has long-term ramifications for our well-being,” said Manuela Tomei, International Labor Organization assistant director-general for governance, rights, and dialogue.

“The work that these persons perform is absolutely essential for families and societies to function,” she said, speaking Wednesday in Geneva. “So, the non-availability of their services would really result into a loss of well-being and the impossibility of ensuring safe lives to society at large.”

And yet a new study by the International Labor Organization (ILO) finds essential workers are undervalued, underpaid and laboring under poor working conditions, exposed to treatment that “exacerbates employee turnover and labor shortages, jeopardizing the provision of basic services.”

The U.N. agency’s report classifies key workers into eight main occupation groups covering health, food systems, retail, security, cleaning and sanitation, transport, manual, and technical and clerical occupations.

Data from 90 countries show that during the COVID-19 crisis key workers suffered higher mortality rates than non-key workers overall, with transport workers being at highest risk.

The report found 29% of key workers globally are low paid, earning on average 26% less than other employees. It reports they tend to work long, unpredictable hours under poor conditions.

Tomei said inaction in improving sub-standard conditions of work is having consequences today.

“In a number of countries, these sectors are facing some labor shortages because people are increasingly reluctant to engage in work which is not fairly valued by society and rewarded in terms of better pay and also improved working conditions.

“So, we are facing a crisis right now,” she added.

Richard Samans, director of the ILO research department, noted that a critical shortage of nurses in many countries is of particular concern.

“This affects the very life of people,” he said Wednesday. “Many people in countries are facing long delays in treatment. In the event of a shock — some sort of a major health disruption or natural disaster or otherwise — if the system is already strained, it cannot handle the major influx of demand for those nursing services.”

A new report by the World Health Organization warns the “widespread disruptions to health services” due to the COVID-19 pandemic “has resulted in a rapid acceleration in the international recruitment of health professionals,” mainly from poor to rich countries, exacerbating shortages of this vital workforce in developing countries.

The ILO reports that countries are still experiencing supply shortages three years after WHO declared COVID-19 a pandemic. ILO research director Richard Samans attributes this to a scarcity of truck drivers due to lack of training and bad working conditions.

“In the event of a shock that increases the demand for certain types of products and services, if the underlying logistical infrastructure is not fit for purpose, then that affects the daily livelihood of people and, in some cases, their health and well-being,” he said.

The ILO report also says key workers fare worse than non-key workers in both wealthy and poor countries, but ILO senior economist Janine Berg said the problems are worse in low-income countries.

“There are particularly severe problems, for example, in agricultural work in low-income countries, and the entire agricultural food chain is part of the key worker definition,” she said. “There are also very severe problems in lower-income countries with respect to very low coverage in social protection.”

The report urges nations to identify gaps in decent work and develop national strategies to address the problems facing key workers through strengthened policies and investment.

Among its recommendations, the report calls on governments to reinforce occupational health and safety systems, improve pay for essential workers, guarantee safe and predictable working hours through regulation, and increase access to training so that key workers can carry out their work effectively and safely.

Argentina’s Inflation Rate Exceeds 100% Mark

Argentina’s annual inflation rate breached the 100% mark for the first time since 1991.

The government’s statistics agency said Tuesday the yearly inflation rate for February rose to 102.5%, making it one of the highest in the world. The agency said consumer prices rose 6.6% last month compared to the same period a year ago, and a combined 13.1% for the first two months of this year.

The sharp rise in the rate was due to an increase in the price for food and beverages, finishing up at 9.8% last month compared to January.

Reports say the surge in consumer prices has defied numerous attempts by the government of President Alberto Fernandez to tame inflation, including a cap on the price of food and other goods.

The soaring inflation rate has been blamed on a number of factors, including a flood of money into circulation by the central bank, along with a lingering heatwave and subsequent drought that has destroyed crops and impacted agricultural exports. The high inflation rate has further left the South American country mired in a lingering economic crisis.

The International Monetary Fund has approved a $44 billion financial aid package for Argentina.

Some information for this report came from Reuters.

Bank Failures Bring FDIC to the Rescue

They are perhaps the two most feared words for regulators of the financial industry: Bank run.

And that is what happened last week when depositors, during a single day, withdrew $42 billion from California-based Silicon Valley Bank (SVB), leaving it with a negative cash balance of a billion dollars.

“This was the first Twitter-fueled bank run,” is how Republican Representative Patrick McHenry, chair of the House Financial Services Committee, described the tsunami of withdrawals.

Depositors and others began speculating on social media about the bank’s health after CEO Greg Becker sent a letter to shareholders on March 8, revealing a loss of $1.8 billion on the sales of U.S. treasuries [debt obligations issued by the government to raise cash] and mortgage-backed securities. Becker outlined his quest to find more than $2 billion to stabilize the bank.

The letter was the catalyst for the second-largest failure of a financial institution in U.S. history and the first such collapse since an economic recession in the country 15 years ago.

As SVB was sinking, regulators in the state of New York suddenly shut down Signature Bank, known as friendly to the unstable cryptocurrency industry, after panic withdrawals there totaling $10 billion brought it to the brink of insolvency.

Some of Signature Bank’s biggest customers were the top crypto exchanges, which individually had hundreds of millions of dollars in deposits.

The bank runs threatened to expand, with individuals across the country whose deposits were more typically in the thousands of dollars and not millions of dollars wondering if their money was safe. Regional banks were especially vulnerable as their stock prices plummeted.

“If the damage had spread across our financial system, the deposits and savings of tens of millions of families and small businesses could have been at serious risk,” Majority Leader Chuck Schumer said on the Senate floor Tuesday.

The government corporation Federal Deposit Insurance Corporation (FDIC) stepped in with unprecedented action.

Most bank customers know the FDIC from its logo displayed at branches with the written assurance: “Each depositor insured to at least $250,000.” Such a limit is likely to cover the potential losses of most individual depositors in America, but Silicon Valley Bank’s well-heeled customers were high-tech startups and entrepreneurs with far larger deposits.

The FDIC decided that the customers of SVB and Signature would be made whole, no matter how much money they had in either of those banks. This restored consumer confidence, and there have been no additional runs on American banks. But the decision was perceived by some as a bailout for the wealthy.

“No losses will be borne by the taxpayers,” President Joe Biden said on Monday.

That is technically correct, as the FDIC is cashing out depositors from a pool of money that all insured banks are required to pay into. But “it is most definitely a bailout,” said Thomas Hoenig, distinguished senior fellow at George Mason University’s Mercatus Center and a former vice chairman of the FDIC.

“This is where the market discipline breaks down,” Hoenig said.

On its website, the FDIC touts its track record: “No depositor has ever lost a penny of insured deposits since the FDIC was created in 1933.”

The FDIC was formed as an independent agency during the Great Depression after a wave of bank runs led to the failure of thousands of financial institutions in the early 1930s, wiping out the savings of many Americans at a time of high unemployment.

“The FDIC was considered pretty radical at the time,” Hoenig told VOA. He noted that even President Franklin D. Roosevelt initially was uneasy about setting up a deposit insurance fund because of concern “about the moral hazard issue that people would not pay attention to what a bank was doing.”

A sister organization, the Federal Savings and Loan Insurance Corporation, was set up to protect depositors at non-commercial banks. The FSLIC and its parent agency, the Federal Home Loan Bank Board, eventually went bankrupt and were dissolved in 1989. The FDIC now is available to ensure those smaller thrift institutions, while the government-backed National Credit Union Administration, a successor to the Bureau of Federal Credit Unions, was established in 1970 to exclusively protect those depositors.

An FDIC bankruptcy “is always a possibility,” according to Hoenig. But the FDIC effectively has a line of credit from the U.S. Treasury it could access if there were to be massive bank failures and it ran out of money.

Right now, Hoenig noted, the FDIC has $100 billion in its fund. But that is against about $20 trillion in banking deposits. Hoenig cautions, “You really don’t want to be bailing out everyone every time, or you might as well just make these institutions public utilities.”