May 17, 12:40 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury National By Arthur Villasanta 05/17/19 AT 12:38 AM Rep. Alexandria Ocasio-Cortez (D-NY) tore into Daniel O'Day, CEO of California-based biotech firm Gilead Sciences, Inc., for charging Americans close to $2,000 for an HIV prevention drug that only costs $8 in Australia.Ocasio-Cortez expressed outrage the prescription combination drug Truvada (Emtricitabine / Tenofovir Disoproxil Fumarate), which was developed with U.S. taxpayers' money, should be priced so exorbitantly. Gilead is earning billions from the drug despite it being developed by the U.S. federal government, which has earned nothing for this success.Truvada was developed by the joint efforts of Dr. Thomas Folks PhD at the U.S. Centers for Disease Control and Prevention (CDC), and Dr. Robert Grant MD, who has more than 30 years experience in HIV/AIDS research, and who received $50 million in federal grant money … [Read more...] about HIV Drug ‘Truvada’ Costs $2,000 In US, Only $8 In Australia
May 16, 12:33 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury National By Arthur Villasanta 05/15/19 AT 11:47 PM The escalating trade war between U.S. and China might begin to inflict palpable pain on the U.S. economy by the third quarter, while further weakening global economic growth, according to some economists.The higher Trump tariffs stand to slash U.S. growth by 0.1 percent for every two months the higher tariffs are in place, or 0.5 percent a year, according to Strategas Research Partners, a New York based institutional brokerage and advisory firm. Other economists estimate a 0.1 percent reduction in U.S. GDP for the year due to the higher tariffs. China should see a 0.4 to 0.5 percent reduction in its GDP.Economists said the latest round of retaliatory tariffs recently announced by Trump and Chinese President Xi Jinping makes it likelier both countries will continue to suffer and see a slowdown in economic growth.Trump … [Read more...] about US, China Economies Slowing Down Due To Trade War
May 15, 10:03 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury National By Arthur Villasanta 05/15/19 AT 9:23 PM Amid stalled and increasingly acrimonious trade talks with China, president Donald Trump on Wednesday declared a national emergency to “deal with the threat posed by the unrestricted acquisition or use in the United States of information and communications technology ... supplied by persons owned by, controlled by, or subject to the jurisdiction or direction of foreign adversaries.”Trump's executive order declaring the national emergency authorized Secretary Wilbur Ross of the U.S. Department of Commerce, in consultation with other top officials, to block transactions involving information or communications technology that “poses an unacceptable risk to the national security of the United States."The order directs the commerce department and other government agencies to draw-up a plan for … [Read more...] about Trump Declares National Emergency: What Does This Mean?
May 15, 2:57 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury National By Reema Roy 05/14/19 AT 10:19 PM San Francisco has become the first city in U.S. to ban police and government agencies’ use of facial recognition technology. The legislation is argued to be a positive step toward slowing the rise of technologies that violate the basic rights of communities, especially those of color and immigrants.The legislation is meant to address concerns regarding the accuracy of the technology and put an end to the surveillance culture, which offers enormous potential for misuse.Governments have been using facial recognition to identify people and criminals over the years. But in a recent study by MIT Media Lab, researchers found that the technology has made mistakes while identifying people’s gender and race. The mistakes have often happened with women and people with darker skin.The city's Board of Supervisors voted 8-1 Tuesday … [Read more...] about Here’s Why San Francisco Banned Facial Recognition Surveillance
May 14, 2:55 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury National By Suman Varandani @suman09 05/14/19 AT 2:44 AM The famed "Alexandria Blue Boy" stamp, which is part of the renowned "ERIVAN" collection of United States postal history in New York City, will be up for auction at a starting price of $1 million. The auction will be conducted by H.R. Harmer, which has been in the business for eight decades and has recently relocated from Southern California to Midtown Manhattan, from June 22.The famed stamp last appeared at a public auction in 1967, according to a press release. While the price of the stamp, issued in Alexandria, Virginia, in the 1840s, will start at $1,000,000, industry experts say the final price is likely to go much higher.The "Blue Boy" has long been an icon of American philately. The envelope bearing the stamp was supposed to be burned upon opening. However, … [Read more...] about Famed ‘Blue Boy’ Stamp Up For Auction, Starting $1 Million