Dowduponts profit tops estimates on growing demand

The Omicron wave of the coronavirus appears to be cresting in much of the country. But its economic disruptions have made a postpandemic normal ever more elusive. Forecasters have slashed their estimates for economic growth in the first three months of 2022. Some expect January to show the first monthly decline in employment in more than a year. And retail sales and manufacturing production fell in December, suggesting that the impact began well before cases hit their peak. “Those are Omicron’s fingerprints,” said Constance L. Hunter, chief economist for the accounting firm KPMG. “It will slow growth in the beginning of the first quarter.” On Monday, global markets were in a frenzy , with the S&P 500 plunging nearly 4 percent before recovering its losses. Market analysts said the early declines reflected fears that the Federal Reserve might need to respond more aggressively than expected to rapidly rising prices, a prospect that some economists say has been made more likely … [Read more...] about Omicron’s Economic Toll: Missing Workers, More Uncertainty and Higher Inflation (Maybe)

Today is Monday. Welcome to Equilibrium, a newsletter that tracks the growing global battle over the future of sustainability. Subscribe here: thehill.com/newsletter-signup . A Lima zoo is scrambling to save more than 40 seabirds , including protected Humboldt penguins, after waves from a volcanic eruption in the South Pacific splashed 6,000 barrels of crude oil along Peru’s coastline, Agence France-Presse reported . A team of veterinarians is caring for the birds, who were brought to the Parque de Las Leyendas zoo after being rescued from the polluted beaches, according to the AFP story. The vets are bathing the animals in special detergent to remove the suffocating oil. ADVERTISEMENT "We have never seen anything like this in the history of Peru," biologist Liseth Bermudez told AFP. Today we’ll take a look at another fossil fuel crisis — a natural gas shortage in Europe that could escalate amid a possible Russian invasion of Ukraine — and what the U.S. is … [Read more...] about Equilibrium/Sustainability — Seabirds covered in oil after volcanic eruption

WASHINGTON (AP) — The District of Columbia and three states are suing Google for allegedly deceiving consumers and invading their privacy by making it nearly impossible for them to stop their location from being tracked. In the lawsuit filed Monday in a District of Columbia court, D.C. Attorney General Karl Racine alleges Google has “systematically” deceived consumers about how their locations are tracked and used. He also says the internet search giant has misled users into believing they can control the information the company collects about them. “In reality, consumers who use Google products cannot prevent Google from collecting, storing and profiting from their location,” the lawsuit says. Google has "an unprecedented ability to monitor consumers’ daily lives.” Google makes it impossible for users to opt out of having their sensitive and valuable location data tracked, the suit alleges. The attorneys general of Texas, Indiana and Washington state filed similar … [Read more...] about DC, 3 states sue Google saying it invades users’ privacy

Netflix is officially a dog stock, with shares of the left-wing streaming giant losing a whopping 40 percent of their value since the start of 2022 amid anemic new customer figures and analyst downgrades, all of which point to a rockier future ahead for the once invincible company. Shares of Netflix — which has a production deal with former President Barack Obama — were down nearly 12 percent in morning trading Monday after the stock plummeted more than 20 percent Friday after the streamer reported weaker-than-expected subscriber results for the fourth quarter and a pessimistic outlook for the first quarter of the new year. And now there’s even more bad news: a new study estimates Netflix could lose hundreds of thousands more subscribers as several Disney-owned hit shows including Modern Family and Sons of Anarchy are leaving the streamer in the U.K. and migrating to Disney+. Co-founder and director of Netflix Reed Hastings delivers a speech as he inaugurates the new … [Read more...] about Netflix Shares Lose 40 Percent of Value Since Start of 2022

More than a dozen mutinous soldiers declared on state television that a military junta had seized control of Burkina Faso after detaining the democratically elected President following a day of gunbattles in the capital of the West African country. The military coup in a nation that was once a bastion of stability was the third of its kind in the region in the last 18 months, creating upheaval in some of the countries hardest hit by Islamic extremist attacks. Capt. Sidsore Kaber Ouedraogo said the Patriotic Movement for Safeguarding and Restoration "has decided to assume its responsibilities before history.” The soldiers put an end to President Roch Marc Christian Kabore’s presidency because of the deteriorating security situation and the President’s inability to manage the crisis, he said. It was not immediately known where Mr. Kabore was, and the junta spokesman said only that the coup had taken place “without any physical violence against those arrested, who are being held … [Read more...] about Soldiers declare military junta in control in Burkina Faso

The National Restaurant Association on Monday urged Congress to provide additional federal aid to restaurants that are struggling to survive a downturn driven by the omicron variant surge. In a letter to congressional leaders , the restaurants’ group asked lawmakers to replenish the Restaurant Revitalization Fund (RRF), a $28.6 billion fund to help struggling operators that quickly ran dry after it was passed as part of the American Rescue Plan. The association wrote that around half of the 177,000 eligible restaurants that missed out on federal aid will struggle to stay in business without additional support, according to a recent survey of restaurant owners. ADVERTISEMENT “After two years of closures, COVID-19 variants, worker shortages, and inflationary pressure, a dangerous number of restaurants are at the end of the line. The RRF was a critical lifeline to many, but far more remain on the sidelines, desperately looking for support amid continued economic … [Read more...] about Restaurants ask Congress for more aid as omicron ravages industry

Time Magazine is promoting a boy for “Kid of the Year” because of his public advocacy for transgenderism — even though the boy’s mother declared him to be transgender only after she failed to convert the boy’s feminine character to be more like a boy. The magazine reported January 12 about the boy, Kai Shappley: The now-5th grader has been publicly telling her story and calling for trans equality for years. She’s traveled the country with her mother, speaking at rallies for LGBTQ rights. She’s worked with the ACLU on pro-trans projects. She’s met with national lawmakers to urge them to pass the Equality Act, which would outlaw discrimination on the basis of … gender identity. “Time Magazine and all of these other magazines are endorsing the trans-the-gay away process,” responded Natasha Chart, an activist who argues that transgender ideology destroys the cultural and legal foundations of women’s rights and status. Instead of accepting a feminine boy who may well grow up … [Read more...] about Time Magazine Promotes ‘Trans-the-Gay-Away’ Child

For a third year, we invited students from 11 to 19 to tell us short, powerful stories about a meaningful life experience for our Personal Narrative Writing Contest . And for a third year, we heard from young people across the globe about the moments, big and small, that have shaped them into who they are today: a first kiss that failed to meet expectations, a school assignment that led to self-acceptance, an incident at airport security that made the world look much less sweet, and more. Our judges read more than 11,000 submissions and selected over 200 finalists — eight winners, 16 runners-up, 24 honorable mentions and 154 more essays that made it to Round 4 — whose stories moved us and made us think, laugh and cry. “I’m always blown away by the vulnerability and tenderness so many of these stories hold,” one judge commented. Below, you can read the eight winning essays, published in full. Scroll to the bottom of this post to find the names of all of our finalists, or see them … [Read more...] about The Winners of Our 3rd Annual Personal Narrative Essay Contest for Students