Archive for the ‘Media Control’ Category

Dow futures jump 200 points to start the week on vaccine, stimulus hopes – CNBC

U.S. stock futures moved higher early Monday as markets indicated a rebound from a losing week. Investors were optimistic as the Covid-19 vaccine rollout began and Washington appeared a bit closer to hatching some sort of stimulus this week.

Dow Jones Industrial average futures rose 242 points, or 0.8%. The move pointed to an opening gain of more than 225 points. S&P 500 futures rose 0.7% and Nasdaq 100 futures gained 0.5%.

A bipartisan stimulus plan could be introduced in Congress as soon as Monday, but split into two parts in order to improve its chances of approval, Reuters reported. The $908 billion bipartisan plan would be split into a $748 billion measure with money for jobless and small business and another part that includes the controversial measures including liability protections and state aid, Reuters said, citing a source.

"Politically, debate continues on another fiscal bill, which is much needed for much of the population, but will also create an even larger 'wall of cash' for consumers to spend as economies fully reopen," Tavis McCourt, institutional equity strategist at Raymond James, told clients on Sunday.

"It is abundantly clear the economy is slowing as local shutdowns continue, but any impact on the equity market has been limited so far. Whether this continues into 1Q is unclear, but our guess is pullbacks will be limited unless something materially changes in the vaccine story," he added.

Following the Food and Drug Administration's emergency authorization of Pfizer's vaccine, the Centers for Disease Control and Prevention Director Robert Redfield signed off on the drug, allowing inoculations to officially move forward for people ages 16 or older.

The U.S. has begun to ship the doses from a Pfizer facility in Michigan to hundreds of distribution centers across the country. The FDA is also slated to publish its assessment on Moderna's vaccine this week.

Shares of stocks that stand to benefit the most from a vaccine and economic aid led the gains on Monday in early trading. Carnival rose 5% in premarket trading. American Airlines gained 3%.

The Covid-19 vaccine is being rolled out amid some of the darkest days of the pandemic in the U.S. More than 2,300 coronavirus related deaths were recorded Saturday, following over 3,300 deaths Friday. New infections continue to explode, with more than 219,000 cases reported on Saturday.

Last week, stocks experienced their first down week in several months as legislators continued a standoff surrounding a Covid-19 aid package.

The S&P 500 fell nearly 1%, for its first negative week in three. The Dow Jones Industrial Average shed 0.57% for its first negative week in three and the Nasdaq Composite lost nearly 0.7% for its first negative week in four.

The upcoming week is expected to be market moving with stimulus talks, Pfizer's vaccine rollout and a Federal Reserve policy meeting. Tesla also joins the S&P 500 on Friday.

The Fed kicks off its two-day policy meeting on Tuesday, the central bank's final meeting of 2020. Economists have speculated that the Fed could make changes to its bond program. The Fed is currently buying at least $80 billion a month of Treasurys, and Fed officials have discussed what they could do to change that program at their last meeting.

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Dow futures jump 200 points to start the week on vaccine, stimulus hopes - CNBC

Virgin Media and O2 merger faces in-depth investigation by regulator – The Guardian

The UK competition regulator has launched a full in-depth investigation into the 31bn merger of Virgin Media and O2.

Liberty Global and Telefonica, the respective owners of Virgin Media and O2, struck a deal to merge their UK operations in May.

The Competition and Markets Authority (CMA) made the decision after the companies requested it fast-track to a phase 2 investigation of the merger last month.

The CMA said it was moving to a full investigation because the merger could have an impact on competition in the telecommunications market.

There is sufficient evidence at an early stage of the investigation for the CMA to conclude that there is a realistic prospect that the transaction would result in a substantial lessening of competition in one or more markets, the CMA said.

The deal will create a new telecoms heavyweight by combining the UKs second-largest broadband network with the largest mobile operator. Virgin Media has 5.3 million broadband, pay-TV and mobile users, while O2 has 34 million mobile customers.

Virgin Media and O2 provide wholesale services to other mobile operators in the UK. The CMA is concerned that following the merger Virgin Media and O2 may have an incentive to raise prices or reduce the quality of those services, ultimately leading to a worse deal for UK consumers.

In 2016 the 10bn acquisition of O2 by Hutchison, which owns the mobile operator Three in the UK, was blocked by the European commission, a move supported by the CMA and Ofcom.

However, the Virgin-O2 merger is a more similar combination to BTs 12.5bn takeover of the mobile company EE four years ago, which was given the green light by the CMA.

The CMA was granted permission to investigate the deal, which values Virgin Media at 18.7bn and O2 at 12.7bn, in November after the European commission handed over the case to the UK regulator. Under European law, the biggest mergers are usually handled by regulators in Brussels.

However, the CMA asked to take the case because the deal only has an impact on UK customers and the time period of the investigation will go beyond the end of the transition period for when Britain leaves the EU.

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Virgin Media and O2 merger faces in-depth investigation by regulator - The Guardian

US actor Tommy ‘Tiny’ Lister was eager to get the Covid-19 vaccine just days before he died – TimesLIVE

I'm taking the vaccine because I've got work to do too, especially for the kingdom of Jesus Christ.

Lister said he was looking forward to a relaxing holiday season, saying he was going to watch basketball, eat and spending time with his daughter.

Lister's wife, Felicia is from South Africa. They met in 2003 while he was working on a film in the country and got married in Cape Town later that year.

According to the The Sun, the pair had separated but did not divorce.

The actor, who was best known for playing Deebo in FridayandNext Friday, tested positive for Covid-19 four months ago, his managerCindy Cowan told TMZ.

She said he started feeling sick at around the same time his last interview was conducted.

He told friends he felt weak and was having trouble breathing. He cancelled his first scheduled day of filming for a new movie, she said.

On social media, many fans paid tribute to the actor, saying he would be dearly missed.

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US actor Tommy 'Tiny' Lister was eager to get the Covid-19 vaccine just days before he died - TimesLIVE

Hackers backed by Russian government reportedly breached US government agencies – The Verge

The same Russian government hacking group responsible for a security breach at FireEye compromised the Treasury and Commerce departments and other US government agencies, The Washington Post reported. The group, known as APT29, or Cozy Bear, was responsible for hacking the US State Department and the White House during the Obama administration, according to the Post, and is the group that officials believe targeted COVID-19 vaccine research over the summer.

Reuters reported that in addition to hacking Treasury and the Commerce Departments National Telecommunications and Information Administration (NTIA), the hackers may have breached other US government entities.

Government officials considered the hack dire enough that the National Security Council held an emergency meeting at the White House on Saturday.

An NSC spokesman told Reuters that the government was aware of the reports, adding we are taking all necessary steps to remedy the situation. Its not yet clear exactly what information may have been stolen or which foreign government was involved. But the highly sophisticated hackers were able to break into NTIAs Microsoft Office software, tricking authentication controls in order to monitor staff emails for months, according to Reuters.

Microsoft released details on the methods used in the hack, late Sunday night. Microsoft says the hackers operating on behalf of an external nation state compromised SolarWinds Orion monitoring and management software giving attackers a foothold in target networks. Intruders were then able to impersonate any of the organizations existing users and accounts, including highly privileged accounts.

Both Microsoft and SolarWinds are making countermeasures available to customers to help detect, protect, and respond to the threat.

Several federal law enforcement agencies, including the FBI, are investigating the breach.

Update December 14th, 4:47AM ET: Added details provided by Microsoft and SolarWinds.

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Hackers backed by Russian government reportedly breached US government agencies - The Verge

Arms Control: When Biden Takes Office, Clock Will Be Ticking To Save New START Treaty – Houston Public Media

In this image taken June 16, 2020, and released by the North American Aerospace Defense Command, a Russian Tu-95 bomber (top) is intercepted by a U.S. F-22 Raptor fighter off the coast of Alaska. Russian nuclear-capable strategic bombers have flown near Alaska on a mission demonstrating the military's long-range strike capability. // via AP, North American Aerospace Defense Command

When President-elect Joe Biden is sworn into office next month, he will immediately be faced with the task of saving the last arms control treaty between the United States and Russia.

The New Strategic Arms Reduction Treaty, or New START, is up for renewal on Feb. 5, 2021, just 16 days after Biden's inauguration. The treaty, negotiated when Biden was vice president, caps the number of strategic nuclear arms the fearful weapons designed to destroy distant targets such as cities, factories and military bases.

Even though the threat of a nuclear confrontation has faded since the end of the Cold War, Washington and Moscow still control the world's two largest nuclear arsenals. President George W. Bush, and then President Trump, withdrew from key nuclear arms agreements with Russia. With bilateral relations at their worst in decades, New START survives as the remaining treaty limiting the two countries' nuclear arsenals.

Biden has promised to pursue an extension of New START as president, but the incoming administration won't have much time.

"I think it's certainly possible, and it's on their radar screen as something that has to be done," says Lynn Rusten, who worked on New START in the Obama administration. "But there's not time for negotiations on anything beyond just a straight extension. You can't start introducing something new that you want to attach or have as a condition."

The last-minute scramble is a result of months of fruitless negotiations on New START between the Trump administration and the Kremlin. U.S. negotiators initially demanded that China be included in the talks, then pushed for a short-term extension with a freeze on all nuclear warheads, not just strategic ones. Russian President Vladimir Putin has said he is ready to extend New START without any preconditions.

Rusten says Trump was ill-disposed to New START primarily because it had been signed by his predecessor, Barack Obama even if Trump wasn't opposed to a treaty per se.

"My sense is he did have an impulse to have an arms control agreement with Russia. But he really surrounded himself with people who have an ideological antipathy toward diplomacy, toward negotiations on arms control," she says. "The good news is they didn't withdraw from the treaty. And I think the reason they didn't is because the national security interest in this treaty is so strong."

One of the key opponents to arms control is Trump's former national security adviser, John Bolton. During Bolton's 17-month tenure, the United States withdrew from the Intermediate-Range Nuclear Forces Treaty, a landmark agreement signed in 1987 by President Ronald Reagan and Soviet leader Mikhail Gorbachev.

In the last Bush administration, Bolton helped lead the drive to take the United States out of the Anti-Ballistic Missile Treaty.

Bolton considered New START flawed because it covers neither non-strategic nuclear weapons nor a new generation of delivery vehicles. He also wanted to bring China into negotiations on New START a demand rejected by Beijing because it owns only a fraction of the nuclear weapons that Russia and the United States do.

"The problem, of course, was that the United States was putting up conditions that were not acceptable to Russia," says Andrey Baklitskiy, an arms control expert at Moscow's PIR Center think tank. "They wanted a lot of things, some of those which, frankly, were beyond Russia's reach. Russia could not bring the Chinese to the table, even if it wanted to."

The negotiations stalled during the presidential campaign and the clock finally ran out on the Trump administration's efforts to reach an agreement before the election.

"Probably Russia was just hedging its bets a little bit because it didn't know who would win," says Baklitskiy.

After the election, Russian Foreign Minister Sergei Lavrov described the Trump administration's position on New START as "chaotic" and said its demands were "not serious and unprofessional."

The negotiations that led up to the signing of the original New START treaty were "harrowing," Obama's chief negotiator, Rose Gottemoeller, recalls. One year of intense talks with the Russians was followed by another year of consultations with the Senate, which ratified the agreement in 2010.

New START's extension of up to five years would not require Senate approval.

The treaty was the main trophy of the "reset," the Obama administration's attempt to reboot U.S.-Russian relations after the chill following Bush's withdrawal from the ABM Treaty, the eastward enlargement of NATO and Russia's five-day war in 2008 with its tiny southern neighbor, Georgia.

After Obama took office in 2009, he declared on his first trip to Europe that the United States was committed to a world without nuclear weapons.

In Moscow, that lofty goal was viewed with suspicion, since the Kremlin's nuclear arsenal is the one thing that puts Russia in the same league as the United States. Yet the Kremlin also wants to avoid a costly arms race like the one that led to the collapse of the Soviet Union.

At the New START signing ceremony in Prague in April 2010, Obama addressed his counterpart at the time, Dmitry Medvedev, as "my friend and partner" and thanked him for his "personal efforts and strong leadership."

Today the smiles and warm words between the presidents of the United States and Russia appear quaint. But the treaty was signed before Putin, then prime minister, returned to the presidency for a third term, and Russia invaded neighboring Ukraine and interfered in the 2016 U.S. presidential election.

"If you look at history, all successful arms control agreements were a result of a certain dtente or rapprochement or thaw in relations and every one that failed was exactly an attempt to build arms control during a time of tensions," says Pavel Podvig, a researcher at the United Nations Institute for Disarmament Research in Geneva.

"The danger, of course, is that to get to the point of this new reset, or dtente, we may have to go through a period when it will be pretty scary, and we are not there yet."

Beyond extending New START, a goal the Kremlin supports, the Biden administration will be limited in what it else can hope to achieve in arms control, says Baklitskiy especially since it's unclear whether he'll have the votes in the Senate to ratify any new treaty.

"I don't think that New START will be a turning point in bilateral relations," says Baklitskiy. "Generally, there is a feeling in Moscow that nothing good will come out of a Biden administration; the fact that President Putin has not yet congratulated President-elect Biden shows you something."

Still, a five-year extension of New START would at least give both sides time to consider what additional steps can be taken, Gottemoeller says.

"We've got to think about what other systems are out there. The Russians have developed a couple of new, so-called exotic systems, which won't fall under the New START treaty," she says. "They probably have a list of U.S. systems they'd like to control."

Podvig says the numbers of nuclear weapons are no longer as important as those new systems: for the United States, a missile defense shield, and for Russia, a new generation of weapons designed to evade it.

"Unfortunately, this kind of an arms race will probably go on regardless of whether New START is extended or not," he says.

Rusten compares the urgency of renewing the treaty with the fight against COVID-19. The use of a nuclear weapon is as hard to imagine today as a global pandemic was a year ago, she says.

"There are still 13,000 nuclear weapons in the world. Most, but not all, are owned by the United States and Russia. Our relationships are deteriorating. And so there's a real risk that they could be used," says Rusten.

"It's important to keep our eye on the ball and not wait until the day after to say: 'What could we have done to prevent that?'"

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Arms Control: When Biden Takes Office, Clock Will Be Ticking To Save New START Treaty - Houston Public Media