Apple Unveils Larger iPhones, Health-Oriented Watches

Apple Inc unveiled larger iPhones and watches based on the design of current models on Wednesday, confirming Wall Street expectations that the company is making only minor changes to its lineup.

The world’s most valuable tech company wants users to upgrade to newer, more expensive devices as a way to boost revenue as global demand for smartphones levels off. The strategy has helped Apple become the first publicly-traded U.S. company to hit a market value of more than $1 trillion earlier this year.

Its shares were down 1.2 percent on Nasdaq. Apple uses the ‘S’ suffix when it upgrades components but leaves the exterior design of a phone the same. Last year’s iPhone X — pronounced “ten” — represented a major redesign.

The new phones are the XS, with a 5.8-inch (14.7-cm) screen, the larger XS Max, with a 6.5-inch (16.5-cm) screen, and a 6.1-inch iPhone Xr made of aluminum, with an edge-to-edge liquid retina display.

Apple, which is looking for ways to lessen reliance on phones for revenue, opened its event by announcing the new Apple Watch Series 4 range with edge-to-edge displays, like its latest phones, which are more than 30 percent bigger than displays on current models.

It is positioning the new watch as a more comprehensive health device, able to detect an irregular heartbeat and start an emergency call automatically if it detects a user falling down, potentially appealing to older customers. It said it had approval for the device from the U.S. Food and Drug Administration.

The FDA said it worked with Apple to develop apps for the Apple Watch. The agency said it has been taking steps to ease the regulatory pathway for companies seeking to create digital healthcare products.

Shares of fitness device rival Fitbit Inc fell about 3.7 percent after the Series 4 announcement. Shares of Garmin Ltd lost some earlier gains and were flat in midday New York trade.

Executives made the announcement at the Steve Jobs Theater at Apple’s new circular headquarters in Cupertino, California, named after the company’s co-founder who wowed the world with the first iPhone in 2007.

“There’s no real game-changer on the table,” said Hal Eddins, chief economist at Apple shareholder Capital Investment Counsel. “It’s a matter of getting people to keep moving up.”

The company is also expected to unveil a new version of its wireless AirPods earbuds with wireless charging and a wireless mat that will be able to charge several devices at once.

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US Median Household Income Reaches Record High

The median U.S. household income reached $61,372 last year — its highest level ever, the U.S. Census reported Wednesday.

The new median figure, meaning that half of U.S. families earned more money and half less, was a reflection of the robust U.S. economy, the world’s largest, that expanded 4.1 percent in the April-to-June period even as the unemployment rate held steady in August at 3.9 percent. The 2017 household income was 1.8 percent higher than the $60,309 figure in 2016.

Middle-class income in the U.S. has been expanding in recent years as the country continues its recovery from the steep recession of a decade ago — a time when millions of people lost their jobs, and many lost their homes through foreclosure when they no longer had enough money to make monthly home loan payments.

Now, one Census official said, many Americans are moving from part-time to full-time work, adding to their financial well-being.

With the income improvement, the Census said that 12.3 percent of the 328 million Americans are living in poverty, a slight improvement from the 12.7 percent figure in 2016. It said 8.8 percent of Americans are without health insurance coverage, the same figure as the year before.

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S. Korea Jobless Rate Hits Highest Since Global Financial Crisis

South Korea’s unemployment rate hit an eight-year high in August as mandatory minimum wages rose, adding to economic policy frustrations and political challenges for President Moon Jae-in whose approval rating is now at its lowest since inauguration.

The unemployment rate rose to 4.2 percent in August from 3.8 percent in July in seasonally adjusted terms as the number of unemployed rose by 134,000 people from a year earlier.

This was the labor market’s worst performance since January 2010, when the economy was still reeling from the global financial crisis, when 10,000 jobs were lost.

Finance Minister Kim Dong-yeon said on Wednesday the government will need to adjust its wage policies, signaling some future soft-pedaling in the drive to raise minimum wages.

“(The government) will discuss slowing the speed of minimum wage hikes with the ruling party and the presidential office,” Kim Dong-yeon told a policy meeting in Seoul, adding he did not expect a short-term recovery in the job market.

Experts say the uproar over jobs could also cost Moon considerable political capital as he pursues closer ties with Pyongyang, as any good news from an inter-Korean summit may not be enough to offset public discontent over the lack of jobs and soaring housing prices.

More than 60 percent of respondents in a Gallup Korea survey criticized Moon’s handling of the economy, including his ‘inability to improve the livelihoods of ordinary citizens’ and ‘minimum wage increases.’

The jobs report showed the labor-intensive retail and accommodation sector, which lost 202,000 jobs in August from a year earlier, was the hardest hit.

A total 105,000 jobs were lost from manufacturing industries, the report said.

However, the agriculture, construction and transport sectors saw a rise in the number of employed, partly offsetting the rise in the number of workers laid off.

The overall number of employed people rose by just 3,000 – also the worst since January 2010.

Each month’s worsening jobs report has sparked a strong public backlash, with President Moon Jae-in’s approval rating falling below 50 percent for the first time on Sept. 7.

A weekly Gallup Korea survey released on Friday showed Moon’s support fell 4 percentage points to 49 percent, the lowest since he took office in May 2017.

“At this rate, we may not see any gains in the number of employed in September or the month after that,” said Oh Suk-tae, an economist at Societe Generale.

Oh said economists at the Korea Development Institute, a state-run think tank, believed this year’s 16 percent increase in the minimum wage – the biggest jump in nearly two decades – was discouraging employers from hiring.

“The president should be held responsible for this, nothing could change the trend unless the boss changes his mind about minimum wage hikes,” Oh said.

The workforce participation rate declined slightly to 63.4 percent from 63.6 percent in July, as more jobs were lost than created, Statistics Korea data showed.

 

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Internet Group Backs ‘National’ Data Privacy Approach

A group representing major internet companies including Facebook, Amazon.com and Alphabet said on Tuesday it backed modernizing U.S. data privacy rules but wants a national approach that would preempt California’s new regulations that take effect in 2020.

The Internet Association, a group representing more than 40 major internet and technology firms including Netflix, Microsoft and Twitter, said “internet companies support an economy-wide, national approach to regulation that protects the privacy of all Americans.”

The group said it backed principles that would ensure consumers should have “meaningful controls over how personal information they provide” is used and should be able to know who it is being shared with.

Consumers should also be able to seek deletion of data or request corrections or take personal information to another company that provides similar services and have reasonable access to the personal information they provide, it said.

The group also told policymakers they should give companies flexibility in notifying individuals, set a “performance standard” on privacy and data security protections that avoids a prescriptive approach and set national data breach notification rules.

Michael Beckerman, president and chief executive officer of the Internet Association, said in an interview the proposals were “very forward looking and very aggressive” and would push to ensure the new rules apply “economy wide.”

He said the group “would be very active working with both the administration and Congress on putting pen to paper.”

The Internet Association wants new rules to be technology and sector neutral, which would mean any new privacy protections would cover anything from how grocery stores or other physical retailers use consumer data to car rental, airlines or credit card firms as well as internet service providers.

The White House said in July it was working to develop consumer data privacy policies and officials had been meeting major firms as it looked to eventually seeing the policies enshrined in legislation.

Data privacy has become an increasingly important issue, fueled by massive breaches that have compromised the personal information of millions of U.S. internet and social media users.

California Governor Jerry Brown signed data privacy legislation in June aimed at giving consumers more control over how companies collect and manage their personal information, although it was not as stringent as Europe’s new rules.

Beckerman said “we definitely want to get this in place prior to California because California got it wrong.”

The U.S. Chamber of Commerce also unveiled privacy principles last week that aim to reverse California’s new rules.

Under the law, large companies would be required from 2020 to let consumers view the data they have collected on them, request deletion of data, and opt out of having the data sold to third parties.

Many privacy advocates have called for robust new U.S. data protections.

Laura Moy, deputy director at Georgetown Law’s Center on Privacy & Technology, told Congress in July that lawmakers should not overturn new state privacy rules and federal agencies “must be given more powerful regulatory tools and stronger enforcement authority” and more resources.

The European Union General Data Protection Regulation took effect in May, replacing the bloc’s patchwork of rules dating back to 1995.

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Water Shortages to Cut Iraq’s Irrigated Wheat Area by Half

In Iraq, a major Middle East grain buyer, will cut the irrigated area it plants with wheat by half in the 2018-2019 growing season as water shortages grip the country, a government official told Reuters.

Drought and dwindling river flows have already forced Iraq to ban farmers from planting rice and other water-intensive summer crops. Water scarcity was one of the issues galvanizing street protests in the country this year.

An investigation by Reuters in July revealed how Nineveh, Iraq’s former breadbasket, was becoming a dust bowl after drought and years of war.

This latest move is likely to significantly raise wheat imports.

Deputy Agriculture Minister Mahdi al-Qaisi said irrigated land grown with winter grains, namely wheat and barley, would be halved.

“The shortage of water resources, climate change and drought are the main reasons behind this decision, our expectation is the area will shrink to half,” Qaisi said in an interview.

Iraq’s agricultural plan included 1.6 million hectares of wheat last 2017-2018 season. Of those, around one million hectares were irrigated and the rest relied on rainfall.

“We expect that the irrigated wheat area falls to half of what it was last year,” Qaisi said, implying plantings of 500,000 hectares.

The cut is expected to lower the country’s wheat production by at least 20 percent, implying a significantly higher import bill Fadel al-Zubi, the U.N. Food and Agriculture Organization Iraq Representative said.

Iraq already has an import gap of more than one million tonnes per year, with annual demand at around 4.5 million to 5 million tons.

“Imports will go up as a result of cutting down on production and also as a result of population increase,” Zubi said but he declined to give an exact estimate for size of imports next year.

Haidar al-Abbadi, the head of Iraq’s General Union of Farmers, confirmed the cut saying water shortage was the main reason behind it.

“Irrigated wheat will reach 2 million donhums (500,000 hectares) down from around 4 million last season,” he said.

Qaisi said it was too early to tell the area of land that could be grown with wheat relying on rainfall this season but he hoped it would make up for some of the shortfall.

“We will follow a few programs to increase the crop, like raising yields and bringing Nineveh province back to more production … that can partly make up for shortfall,” he said.

But the rains failed Iraq’s Nineveh last season with the government procuring a little over 100,000 tonnes of wheat this year from a region that used to produce close to one million tons annually before Islamic State took over in 2014.

Iraq imports wheat to supply a rationing program created in 1991 to combat U.N. economic sanctions, including flour, cooking oil, rice, sugar and baby milk formula.

The trade ministry is responsible for procuring strategic commodities, including wheat, for the program.

Trade ministry officials were not immediately available for comment on a potential rise in imports.

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Soccer-Playing Girl Challenges Gender Rules in Argentina

At age 7, Candelaria Cabrera goes after the soccer ball with determination. She drives toward her rivals without caring much about getting hurt and deftly manages the bumps on the dirt field.

She wears a loose white jersey from Huracan de Chabas, her hometown, located 230 miles (370 kilometers) north of the capital, Buenos Aires. Printed on the back and on her red shorts is a number 4. She uses white boots and shin guards. Her long, copper-colored hair tied in a ponytail distinguishes her from the rest of the players.

“Cande,” as she is known by friends and family, is the only girl playing in a children’s soccer league in the southern part of Santa Fe province, birthplace of stars including Lionel Messi, Gabriel Batistuta and Jorge Valdano. Former Argentine coaches Marcelo Bielsa, Gerardo Martino and Jorge Sampaoli were also born there.

But a regional regulation that prohibits mixed-gender teams in children’s categories threatens to take her off the field — a ruling that has helped dramatize the inequality in opportunities for men and women in this soccer-crazed country.

“I had to sit down with her and tell her that there are some people who have to make rules in soccer and that these rules do not agree with what she wants,” said Rosana Noriega, Candelaria’s mother. “And, well, we both cried, and she said: ‘The people who make the laws are bad people.’ ”

She was 3 years old when her parents gave her her first ball. They understood that it didn’t make sense to insist she play with dolls, even if there were “comments from other moms that they should not give her male toys because it would encourage her to be a lesbian,” Noriega recalled.

Two months ago, the regional soccer authorities notified Huracan that the team could no longer include Candelaria. She could play only on a girls’ team — and there isn’t one where Candelaria lives.

Noriega took to social media to speak out about her daughter’s case and was surprised to find that she was not the only one. Girls wrote to her saying they were facing the same problem in nearby towns and more distant provinces.

Of the 230 regional leagues recognized by the Argentine Football Association, only 68 have women’s teams. This is just one of the many disparities with men’s soccer. The most notable is financial: The best-paid contract in men’s first division is around $3 million a year. In contrast, women who play in their top category receive a travel voucher of $44.

Argentina’s female players, who will play in a November runoff game for the 2019 World Cup, have struggled financially when their payments were delayed. They also expressed discomfort when Adidas, the brand that sponsors a few members of the national teams of both genders, unveiled the new shirt for the Female America Cup this year with models rather than players.

“The biggest lack is that they don’t have younger players. They start playing at age 16, 17, and by then they’ve missed out on a bunch of issues that have to do with understanding the game,” said Ricardo Pinela, president of the Football Association’s Women’s Football Commission.

“The important thing is that every club in every corner of the country gives a girl the possibility of joining a female soccer team, to play with other girls, even if it’s just for fun, and from there generate the necessary structure that … sets them on equal standing as the male players,” he argued.

After Candelaria’s case became widely publicized, her regional league committed to reviewing the rule in an assembly at the end of the year — leaving her case in limbo until then.

While she’s officially now banned, the team has let her keep playing — at least until an opponent objects.

Candelaria’s most recent match ended with her team beating rival Alumni de Casilda 7-0.

“No one should say that a girl can’t play soccer,” she said.

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New Delhi Startup Develops Smartwatch for Women’s Safety

Whether at home or out and about, women the world over have long had to contend with threats to their physical safety. Now, a tech startup has designed a wearable device that can aid them in dangerous and life-threatening situations. Tina Trinh reports.

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In Posh Bangkok Neighborhood, Residents Trade Energy with Blockchain

Residents in a Bangkok neighborhood are trying out a renewable energy trading platform that allows them to buy and sell electricity between themselves, signaling the growing popularity of such systems as solar panels get cheaper.

The pilot project in the center of Thailand’s capital is among the world’s largest peer-to-peer renewable energy trading platforms using blockchain, according to the firms involved.

The system has a total generating capacity of 635 KW that can be traded via Bangkok city’s electricity grid between a mall, a school, a dental hospital and an apartment complex.

Commercial operations will begin next month, said David Martin, managing director of Power Ledger, an Australian firm that develops technology for the energy industry and is a partner in the project.

“By enabling trade in renewable energy, the community meets its own energy demands, leading to lower bills for buyers, better prices for sellers, and a smaller carbon footprint for all,” he said.

“It will encourage more consumers to make the switch to renewable energy, as the cost can be offset by selling excess energy to neighbors,” he told the Thomson Reuters Foundation.

Neighborhoods from New York to Melbourne are upending the way power is produced and sold, with solar panels, mini grids and smart meters that can measure when energy is consumed rather than overall consumption.

The World Energy Council predicts that such decentralized energy will grow to about a fourth of the market in 2025 from 5 percent today.

Helping it along is blockchain, the distributed ledger technology that underpins bitcoin currency, which offers a transparent way to handle complex transactions between users, producers, and even traders and utilities.

Blockchain also saves individuals the drudgery of switching between sending power and receiving it, said Martin.

For the pilot in Bangkok’s upmarket Sukhumvit neighborhood, electricity generated by each of the four locations will be initially used within that building. Excess energy can be sold to the others through the trading system.

If there is a surplus from all four, it will be sold to the local energy storage system, and to the grid in the future, said Gloyta Nathalang, a spokeswoman for Thai renewable energy firm BCPG, which installed the meters and solar panels.

Thailand is Southeast Asia’s leading developer of renewable energy, and aims to have it account for 30 percent of final energy consumption by 2036.

The energy ministry has encouraged community renewable energy projects to reduce fossil fuel usage, and the regulator is drafting new rules to permit the trade of energy.

The Bangkok Metropolitan Electricity Authority forecasts “peer-to-peer energy trading to become mainstream for power generation in the long run,” a spokesman told reporters.

BCPG, in partnership with the Thai real estate developer Sansiri, plans to roll out similar energy trading systems with solar panels and blockchain for a total capacity of 2 MW by 2021, said Gloyta.

“There are opportunities everywhere – not just in cities, but also in islands and remote areas where electricity supply is a challenge,” she said.

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CMT Honors Only Women at Annual Artists of the Year Show

CMT is changing their Artists of the Year show to honor only women, including Carrie Underwood, Miranda Lambert, Kelsea Ballerini, Maren Morris, Karen Fairchild and Kimberly Schlapman of Little Big Town and Hillary Scott of Lady Antebellum.

 

The move comes as female artists in the genre have been outspoken about the lack of opportunities for them. Women have been shut out of nominations for major country awards, such as CMA’s entertainer of the year category for two years in a row, and men overwhelmingly dominate country radio charts.

 

CMT senior vice president of music and talent Leslie Fram said she hopes dedicating the entire show to women in country music — past, present and future — will spark a “much-needed change in the industry.” The show airs on CMT on Oct. 17 at 8 p.m. Eastern/Pacific.

 

“This year, we’re evolving the special to reflect what’s happening right now in culture and in the lives of our fans,” Fram said in a statement.

 

The network started a “Women of Country” campaign in 2013 as a way to bring more airplay to female artists, including Ballerini and Morris, and has expanded it into a tour. The network is also doing a day-long “Women of Country Music” takeover across all CMT platforms leading up to their show.

 

Three years ago, a radio consultant garnered national attention for recommending that stations limit the number of female country artists they play to boost ratings, using the analogy of tomatoes in a salad.

 

Many female artists including Morris, Cam and Underwood have all spoken out against a prevailing opinion in the industry that female fans don’t want to listen to female artists. Underwood also recently announced a national tour next year that will include only female opening acts, including Maddie and Tae and Runaway June.

 

Additional performers for the Artists of the Year show will be announced at a later date.

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Tate Modern Makes Time for 24-hour Movie ‘The Clock’

Christian Marclay’s “The Clock” is both the ultimate feature film and an artwork you can set your watch by. 

The Swiss-American artist has edited together thousands of movie clips containing clocks, watches or references to the time — one or more for every minute of the day — into a 24-hour video.

The result is a mesmerizing patchwork that moves forward in time as it dances back and forth across film history. 

Marclay compares the three-year process of creating “The Clock” to slotting together the multicolored facets of a Rubik’s Cube. London’s Tate Modern , where it goes on display this week, calls it “a gripping journey through cinematic history as well as a functioning timepiece.”

Since it was completed in 2010, “The Clock” has taken on legendary status, watched by thousands of people around the world — including a hardcore few who have seen it all in one sitting.

Marclay knows most visitors won’t see the whole thing, and admitted Tuesday that he’s never sat through the full 24 hours.

“It’s a lesson for life — we can’t do everything and we can’t see everything,” the artist said at a preview of the exhibition.

He likened the work to a painting — “You can come back to it endlessly.”

Tate co-owns a copy of “The Clock,” one of six in existence, with the Pompidou Center in Paris and the Israel Museum in Jerusalem.

Marclay places strict conditions on how it is shown. It must always be synched to the actual time, so that midnight onscreen coincides with midnight in the screening room.

Visitors to Tate Modern can see “The Clock” for free from Sept. 16 until Jan. 20, in a screening room that can sit 150 people on comfy couches. Tate plans several all-night openings so that it can be shown in its entirety.

While few viewers of “The Clock” last a whole day, many stay longer than expected — the average is more than an hour.

It’s a seductive work that engages viewers on several levels. There’s the fun of trying to recognize the snippets as they whiz past — Jack Nicholson smirking; Cary Grant flirting; Hugh Grant, late for one of his “Four Weddings and a Funeral.”

Although there’s no plot, “The Clock” contains sex, humor, action and dramatic tension. When Jeremy Irons calls Bruce Willis at 10:50 a.m. in “Die Hard With a Vengeance” and demands he be downtown in half an hour, viewers hope Marclay will cut back to Willis at 11:20. (He does).

The artist says some minutes of the day were easier to work with than others. Film history abounds in noon and midnight encounters, but not so many at 4 a.m.

Only the insomniac or the intrepid will get to see the pre-dawn segments, and Marclay doesn’t mind if late-night visitors nod off. He says he wants “The Clock” to be in synch with viewers’ body rhythms.

“I love the idea of someone going in and out of sleep,” he said. “It becomes a blur. You really become part of the thing.

“I think that’s the magic of this piece,” he added. “It’s really about you.”

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Alfonso Cuaron on Building ‘Roma’ on Childhood Memories

Alfonso Cuaron’s last movie, the dazzling space thriller “Gravity,” won seven Oscars and grossed more than $720 million worldwide. His new movie, “Roma,” is based on his childhood memories and was shot in black and white in the Mexico City neighborhood he grew up in.

With limitless opportunities at his disposal after the success of “Gravity,” Cuaron decided to go home. And the result — a neorealist blend of intensely personal filmmaking and overwhelming visual command — has been hailed as a masterpiece.

“There were huge and beautiful offers after `Gravity,’ and very tempting. And offers from a financial standpoint that were really appetizing,” Cuaron said in an interview. “But it was one of these things that I needed to do out of the deepest admiration for cinema that has to do with personal journeys.”

Days after “Roma” took the Golden Lion at the Venice Film Festival, Cuaron and the film arrived at the Toronto International Film Festival where the rapturous responses to his soul-searching continued unabated. “Roma,” which will have a limited theatrical release on Netflix this December, is Cuaron’s first Spanish-language film since his 2001 breakthrough, “Y Tu Mama Tambien.”

But for Cuaron, “Roma” is more than that. It’s a new beginning.

“It’s something that’s been brewing for a long, long, long time. I first started taking it seriously in 2006. It’s the film I was meant to do. It’s my first film. It’s the film in the sense that I made absolutely fearlessly. I threw away everything that I have learned to do this film,” said Cuaron. “Well, not everything because I wouldn’t have been able to do this before now.”

“Roma” is about domestic worker Cleo (Yalitza Aparicio, speaking in her native Mixtec), who devotedly works for a family that lives in the Mexico City neighborhood of Roma. Their home life, while pristine, is cracking (the father leaves his wife). And the tumult of early `70s Mexico, when student protests clashed violently with the police, is all around. Society is fraying, and it’s the women who bear much of the brunt of it.

“It’s an observation of a character journey as much as it’s an observation of a country, and a country that, like the United States and much of the world, has this perverse relationship between social class and race,” said Cuaron.

The production was unique. In the lengthy 108-day shoot, no crew member or actor had a screenplay. The only one beside Cuaron who did have a script was executive producer David Linde of Participant Media, who noted at the film’s Toronto premiere: “And I don’t speak Spanish.” Unlike most films, Cuaron also shot in absolute continuity.

“I didn’t want the actors or even the crew to have preconceptions or defined answers,” said Cuaron. “It was a process for everyone to be constantly searching. I was just honoring moments — the sense of time and space in those moments, but also honoring the emotional elements of those moments.”

Cuaron estimates that 90 percent of the film comes from his own memories and old photographs. He reproduced his family’s home, cast actors who looked as close as possible to his family members and obsessed over recreating the details of his early life. Cuaron served as his own cinematographer after his usual director of photography, Emmanuel “Chivo” Lubezki, had to pull out due to other commitments.

“I reproduced every inch of my childhood home with 70 percent of the original furniture,” Cuaron said. “We reproduced every single tile that existed in that house. We shot on the street of my childhood home. We shot in most of the places where those scenes took place.”

And though “Roma” is of a far smaller scale and more intimate than his “Gravity” or “Children of Men,” the 56-year-old filmmaker used many of the techniques he’s mastered from more spectacle-driven movies. He shot it digitally in 65mm and used Dolby Atmos for the lush sound design. In the film’s climactic moment, the sounds of the churning surf on a beach envelop the audience.

On the stage of the Princess of Wales Theatre in Toronto, Cuaron explained the journey of “Roma” to the crowd: “I really wanted to come to terms with the elements that forged me.”

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Indonesia Battles Currency Woes

Policymakers in Indonesia are grappling to deal with a weakened currency, the rupiah, which was valued at just 14,930 per U.S. dollar last week — its lowest point since the 1998 Asian financial crisis. But unlike 20 years ago, when economic turmoil led to major political upheaval in Indonesia, most observers say that Southeast Asia’s largest economy is now far better positioned to endure a poorly performing currency.

The United States Federal Reserve’s planned interest rate hikes have impacted emerging markets worldwide as investors sell assets in countries such as Indonesia in favor of American ones. The Argentine peso and Turkish lira both crashed in late August, crises that sent major shockwaves across developing economies. President Donald Trump’s trade war with Beijing has also seen a devaluation of the Chinese yuan.

These external factors have badly hit the Indonesian rupiah, already one of the weakest currencies in Asia. According to Bloomberg, the rupiah has lost around 9 percent of its value against the greenback during 2018. Like Turkey and Argentina, Indonesia also has a so-called “twin” deficit, meaning it is running both fiscal and current account deficits.

“Indonesia obviously is one of the frontline currencies alongside the Indian rupee and the Philippine peso, these are the three currencies most battered among the regional pack… in the latest turmoil,” said Prakash Sakpal, an economist from ING in Singapore.

Stronger 20 years on

In the late 1990s, the collapse of the rupiah exacerbated a severe economic crisis, which led to the fall of Indonesia’s longtime dictator Suharto.

“We know what we face with the rupiah is a really, really important problem,” the head of Research at the Jakarta-based brokerage and investment management firm Ekuator, David Setyanto, told VOA. “But if you compare with Turkey or Argentina, we are not the same with them because our fundamental economics are much stronger than these two countries.”

Dr. Tommy Soesmanto, an economics lecturer at Griffith University, told VOA that “Indonesians should not be overly concerned with the current situation,” as the economy is in a far stronger position than in 1998. During the Asian Financial Crisis, the rupiah fell from 3000 against the US dollar to 15,000 — a depreciation of some 500 percent from which it never recovered, hovering at around 10,000 per dollar in subsequent years.

Indonesia’s credit rating is now Triple B as opposed to 1998 when it was “considered junk”, Soesmanto said, while the country now has net capital inflow compared with “severe” capital outflow in 1998. Bank Indonesia holds foreign reserves worth some $118 billion compared with just $24 billion back then, allowing it greater leverage to finance debts and imports.

Charu Chanana, Deputy Head of Asia Research at Continuum Economics in Singapore, agreed. “We believe Indonesia is much stronger today fundamentally when compared to 1998,” she wrote in an email. “However, as external headwinds persist, we believe Indonesia’s currency will remain in the firing line due to a weak external position and high foreign exposure in the stock and bond markets.”

“I think it’s a little bit overblown,” said Sakpal of ING when asked about the severity of the currency crisis, noting that “economic fundamentals for most of the regional economies are still solid.”

“In Indonesia, growth has accelerated in the second quarter to 5.3 percent, which was the fastest in many quarters… all the recent turmoil is driven by external factors,” he said.

Unite for the rupiah

Bank Indonesia, the central bank, has responded aggressively to the latest currency problems by raising interest rates four times since May. For months it has also sold foreign currency and bought sovereign bonds in a bid to stabilize the currency.

The government, meanwhile, has now imposed higher import taxes of up to 10 percent on some 1000 consumer goods, including cosmetics and luxury cars.

“This is a good chance for local producers to penetrate our own domestic market that is usually filled with imported goods,” Indonesia’s Finance Minister Sri Mulyani Indrawati said last week.

The weak rupiah is likely to hit Indonesia’s manufacturing sector hardest, and accordingly, the government has imposed lower tax hikes of 2.5 percent on imported raw materials. The energy and resources ministry also announced it would delay $25 billion worth of power projects, aimed at producing an additional 35 gigawatts of electricity, which is expected to save $8 to $10 billion in import costs.

“We can come together for the success of the #AsianGames2018,” read a Facebook post from the Finance Ministry last week, accompanied by infographics urging Indonesians to buy local products, reduce their consumption of imports, change U.S. dollars for rupiah, travel within Indonesia and invest locally. “We can also #BersatuUntukRupiah [unite for the rupiah].”

 

 

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13-Year-Old Kurdish-American Boy Becomes Entrepreneur

United States is a land of opportunity. We have all heard this saying, but what does it mean and how does it happen? A Kurdish-American family in the state of Virginia is seeing how their 13-year-old son has made the most of a unique opportunity. VOA’s Yahya Barzinji recently visited this family and filed this report narrated by Bezhan Hamdard.

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Study: US Teens Prefer Remote Chats to Face-to-Face Meetings

American teenagers are starting to prefer communicating via text instead of meeting face-to-face, according to a study published Monday by the independent organization Common Sense Media.

Some 35 percent of kids aged 13 to 17 years old said they would rather send a text than meet up with people, which received 32 percent.

The last time the media and technology-focused nonprofit conducted such a survey in 2012, meeting face-to-face hit 49 percent, far ahead of texting’s 33 percent.

More than two-thirds of American teens choose remote communication — including texting, social media, video conversation and phone conversation — when they can, according to the study. 

In 2012 less than half of them marked a similar preference.

Notably, in the six-year span between the two studies the proportion of 13- to 17-year-olds with their own smartphone increased from 41 to 89 percent.

As for social networks, 81 percent of respondents said online exchange is part of their lives, with 32 percent calling it “extremely” or “very” important.

The most-used platform for this age group is Snapchat (63 percent), followed by Instagram (61 percent) and Facebook (43 percent).

Some 54 percent of the teens who use social networks said it steals attention away from those in their physical presence.

Two-fifths of them said time spent on social media prevents them from spending more time with friends in person.

The study was conducted online with a sample of 1,141 young people ages 13 to 17, from March 22 to April 10.

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‘A Star Is Born’ Mania Sweeps Over Toronto Film Festival

The response to Bradley Cooper’s romantic saga “A Star Is Born” has been intense. Critics have boasted of crying uncontrollably. Fans outside theaters have swooned for its star, Lady Gaga. Words like “glorious,” “rapturous” and, of course, “gaga” are running rampant.

 

“Having been on the other side of it, when you do something that doesn’t do well, people tend to avoid you,” Cooper said in an interview alongside his co-star. “I don’t see people, like, going the other way as I’m walking down the street.”

Quite the contrary. Since making landfall at the Toronto International Film Festival, “A Star Is Born” has provoked the kind of mania rarely seen in even the feverish realm of a film festival. It’s been hailed as “a transcendent Hollywood movie” (per Variety) and “damned near perfect” (per Rolling Stone).

 

And it has predictably flown to the top of Oscar prediction lists in just about every category, including its original songs. It’s a breakthrough for Cooper, directing for the first time, and Gaga, who’s leading a movie for the first time.

 

“I have been trying not to read any reviews. But every once in a while, my friends will read over and go (shoving phone in face): ‘You have to see this!'” says Gaga. “But I have to say truly, I feel like an audience member now. Watching the film back, it really impacts me on a deep emotional level.”

And it seems to be impacting those in the audience similarly. Even its trailer, watched by millions on YouTube, has sparked a rare eagerness. Anthony Ramos, who plays a friend of Gaga’s character in the film, said he’s been constantly harangued about details making the film.

 

“It’s lighting in a bottle, man,” said Ramos. “From the moment I stepped on set, the way Bradley works and the way Stefani works, I was like, ‘This could be crazy.’ And sure enough, here we are and people are buggin’ out.”

 

Acclaim hasn’t been universal for “A Star Is Born,” which stars Cooper as the seasoned rock star Jackson Maine and Gaga as a struggling artist he falls in love with. Its sheer popularity is certain to engender the kinds of waves of backlash that are typical of any big cultural force parading through Oscar season.

 

Warner Bros. will release the film Oct. 5 and is planning a sizable awards campaign. It’s the third remake of the original 1937 film, following the 1954 version with Judy Garland and James Mason, and the more rocking 1976 version, with Barbra Streisand and Kris Kristofferson.

 

This remake was initially developed with Clint Eastwood directing and Beyonce potentially starring. Cooper first discussed the role with Eastwood, his “American Sniper” director, before ultimately taking the directing reins himself. In a gesture of encouragement, Eastwood visited the set the first day of shooting.

For Lady Gaga, the experience was transformational. She dyed her hair her natural color. She and Cooper performed songs live.

 

“There can be a 100 people in the room and 99 don’t believe in you, and just one does. And it can change everything,” Gaga said at the press conference. “I wouldn’t be here if Bradley didn’t believe me. My dad, and also Bradley.”

 

“I wanted to give everything that I had, every last drop of blood, all my fear, all my shame, all my love, all my kindness,” she added. “I wanted to give it to him.”

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Japan’s Bid to End Whaling Ban is Top Issue at Conference

Japan will once again try to get the international ban on whale hunting overturned at the global conference of the International Whaling Commission (IWC), which opened in Brazil on Monday.

The proposal presented by Japan says, “Science is clear: there are certain species of whales whose population is healthy enough to be harvested sustainably.”

While the Japanese proposal is supported by other traditional whaling countries, such as Iceland and Norway, it faces fierce opposition from countries such as Australia and Brazil, and the European Union, as well as from numerous environmental groups.

Japan, which has pushed for an amendment to the ban for years, accuses the IWC of siding with anti-whaling nations rather than trying to reach a compromise between conservationists and whalers.

Whale meat has been a a traditional part of the Japanese diet for centuries.

After the IWC adopted a ban on commercial whaling in 1982, Japan, Norway and Iceland continued to hunt whales. Tokyo justified the practice as a part of scientific research, which was allowed by the moratorium.

But in 2014, the International Court of Justice ruled that Japan’s whaling practice had no scientific basis, but instead it was a way to keep the industry alive.

This year, Japan wants to establish a Sustainable Whaling Committee to oversee the hunting of healthy whale populations for commercial purposes.

But environmentalists say allowing even limited hunting of the mammoth mammals will only again push the species to the brink of extinction. Brazil introduced  proposal Monday that says hunting whales is “no longer a necessary economic activity.”

Australia has vowed to lead the charge against reinstatement of commercial whaling and it has the strong backing of New Zealand, the European Union and the United States.

Japan’s proposal will likely be put to a vote sometime before the conference ends on Sept. 14.

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Probst Leaves Complex Legacy After 10 Years as USOC Chairman

Larry Probst will step down as chairman of the U.S. Olympic Committee, exiting with a complicated legacy that includes restoring the federation’s international reputation while leaving it saddled with as many problems on the home front as he faced when he arrived.

Probst, who announced his departure Monday, will step down at the end of the year, to be replaced by Susanne Lyons, a board member who recently finished serving as interim CEO following the resignation of Scott Blackmun in February.

Lyons and new CEO Sarah Hirshland are tasked with restoring credibility to a federation that has been widely criticized for its slow response to a mushrooming sex-abuse scandal in Olympic sports.

 

“I became chairman at a difficult time for the USOC and worked diligently with my colleagues here in the U.S., and around the world, to change the USOC for the better,” Probst said. “It’s now time for a new generation of leaders to confront the challenges facing the organization, and I have the utmost confidence in Susanne’s and Sarah’s ability to do just that.”

 

The 68-year-old Probst, a longtime executive at video-game behemoth Electronic Arts, spent hundreds of days overseas during his 10 years at the helm, helping repair badly fractured international relationships that stemmed from decades’ worth of financial disagreements with the IOC, to say nothing of the sometimes-curt style of his better-known predecessor, Peter Ueberroth.

 

Probst’s work helped bring the 2028 Olympics to Los Angeles, giving America a win after a number of embarrassments, including Chicago’s bid for the 2016 Games, and the mistaken, and ultimately aborted, choice of Boston as a candidate for 2024; both debacles came on Probst’s watch.

 

Probst also earned a highly coveted spot on the International Olympic Committee — a position that gave him insider status in the decision-making process. But critics said he didn’t use the position to advocate for U.S. athletes, especially on matters concerning Russian doping, where he rarely broke ranks with IOC president Thomas Bach, who supported Russia’s return to the Olympic fold despite solid evidence of wrongdoing.

 

In the United States, doping has been overshadowed of late by the sex-abuse scandal.

 

The USOC has gotten some credit for creating the U.S. Center for SafeSport to serve as a clearinghouse for all Olympic-related sex-abuse cases. But it has been criticized — and sued — for not acting quickly enough, or taking its share of responsibility. That played a part in Blackmun’s departure, and it’s no surprise to see Probst, whose greatest successes came with Blackmun at his side, follow him out shortly after.

 

Blackmun helped stabilize the federation after Probst and his board surprisingly dismissed CEO Jim Scherr following a successful 2008 Olympics and replaced him with Stephanie Streeter, whose short tenure was a complete failure. Many viewed Scherr’s firing as a self-inflicted mistake, and Probst was forced to spend a large part of his tenure rebuilding trust on both the domestic and international levels.

 

Among his successes were establishing a charitable foundation that raises multiple millions for Olympic athletes, the settling of a controversial revenue-sharing agreement with the IOC, and improving an already healthy financial situation under the tenure of Chief Marketing Officer Lisa Baird. (Baird left the Olympic movement last month.)

 

The U.S. also stayed atop the medals table in the Summer Games, and had largely successful Winter Olympics under Probst’s watch, though the U.S. team’s total of 23 in Pyeongchang earlier this year — its lowest haul in 20 years — raised some eyebrows.

 

That disappointing showing came as the Larry Nassar scandal was turning into front-page news, and one of the most-repeated critiques of the USOC was that its leaders cared about medals more than the people who won them.

The delicate task for Lyons and Hirshland will be to make sure the USOC keeps winning, while also changing the culture in their own organization, as well as in the various sports that make up the Olympics.

 

“I wish Susanne and Sarah the best of luck in handling the very complex and difficult scenario they find themselves in,” Scherr said.

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Star-studded Human Trafficking Film Scripts Message for Rural India

A new Indian movie about human trafficking starring Freida Pinto and Demi Moore is to be screened in towns and villages around the country to raise awareness of a crime that affects millions.

“Love Sonia,” which traces the journey of a young girl trafficked from rural India into the global sex trade, hits cinemas in the country this week after screenings on the international festival circuit.

Director Tabrez Noorani said he wanted to champion “hope and courage” and raise awareness of trafficking around the world.

“I want to show that the crime of trafficking is not restricted to, say, India or China. It’s a global problem,” Noorani told the Thomson Reuters Foundation by phone.

“Everyone has to be aware … that it’s happening in their backyard,” he said.

India is home to at least 8 million slaves, according to the latest figures from the Australian-based Walk Free Foundation. 

Government figures show the country recorded more than 8,000 human trafficking cases in 2016, 20 percent higher than the previous year, although rights activists say many cases go unreported.

Many victims are from rural areas and are often lured with promises of jobs in cities. Instead they are forced to work in brick kilns or farms, enslaved in homes as domestic workers, or sold to brothels.

The founder of anti-trafficking charity Shakti Vahini said movies were an effective way to raise awareness in rural areas — particularly if they featured major stars.

“We go out and do a lot of lectures. But when they see it in a movie, they see the danger as more real,” said Ravi Kant.Other films to have been used in this way include “Mardaani,” a 2014 film i

n which a woman police officer takes on a child trafficker.

“Mardaani” director Pradeep Sarkar said it was important to show traffickers were “regular, normal people living next door.”

“Love Sonia” is the directorial debut of Noorani, a veteran producer whose credits include “Slumdog Millionaire” and “Life of Pi”, and stars the acclaimed Indian actor Rajkummar Rao alongside Moore and Pinto.

Noorani said he wanted to make an “authentic film” on an issue he has worked on for many years as a board member of the Los Angeles-based Coalition to Abolish Slavery and Trafficking.

“The film heroes hope and courage,” Noorani said. “Education is the best way to fight human trafficking. People will hopefully walk out of theatres eyes wide open.”

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Canada’s Freeland to Hold NAFTA Talks Tuesday as Time Runs Short

Canadian Foreign Minister Chrystia Freeland will meet U.S. Trade Representative Robert Lighthizer in Washington on Tuesday for another round of talks to renew the NAFTA trade pact, an official said on Monday, as time runs short to seal a deal.

Freeland spokesman Adam Austen did not give details. After more than a year of negotiations, Canada and the United States are still trying to resolve differences over the North American Free Trade Agreement, which also includes Mexico.

U.S. officials say time is running out to agree on a text on which the current Congress can vote. Canadian officials say they are working on the assumption they have until the end of September.

Freeland spent three days in Washington last week and said on Friday as she prepared to leave that she and Lighthizer were making very good progress in some areas, although a deal remained out of reach.

U.S. President Donald Trump, who says he is prepared to tear up NAFTA, has struck a trade deal with Mexico and threatened to push ahead without Canada.

Uncertainly over the future of NAFTA, which underpins $1.2 trillion in trade, is weighing on markets as well as the Canadian and Mexican currencies.

Officials say the main sticking points are Canada’s dairy quota regime, Ottawa’s desire to keep a dispute-resolution mechanism, and Canadian media laws that favor domestically produced content.

U.S. Agriculture Secretary Sonny Perdue, speaking in an interview broadcast on Sunday, said Canada had to scrap a low-price milk proteins policy to reach a deal on NAFTA. U.S. farmers complain Canada is flooding export markets.

Austen, asked whether Freeland might return to Washington later in the week, said no decisions had been taken. She is due to attend a two-day meeting of legislators from the ruling Liberal Party in western Canada on Wednesday and Thursday.

Prime Minister Justin Trudeau said last Wednesday he did not see the need to attend the talks for the time being.

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Survey: Number of Americans Getting News on Social Media Slows

About two-thirds of American adults say they occasionally get their news from social media, according to a survey released Monday by the Pew Research Center.

The number is 1 percent more than last year, indicating a slowdown in the growth of news consumption on social media.

Despite the popularity of social media, 57 percent said they expected the news they received on these platforms to be inaccurate.

Republicans were far more negative than Democrats about social media news, with 72 percent saying they expect it to be inaccurate. Forty-six percent of Democrats and 55 percent of independents reported feeling the same. Pew surveyor Katerina Eva Matsa said this falls in line with years of research on political attitudes toward news media in general.

“We’ve seen stark differences between Republicans and Democrats when it comes to the perception of fairness, the media’s watchdog role, trust toward the media,” Matsa said.

Despite the partisan breakdown, more people listed accuracy as their greatest concern with news on social media than political bias. Thirty-one percent were concerned with accuracy, while 11 percent worried about political bias.

Facebook remained the dominant platform for online news consumption, with 43 percent of respondents saying they get news there. YouTube came in second with 21 percent, and Twitter third with 12 percent. Other major social media platforms such as Instagram and Reddit scored in the single digits.

Reddit stood out as the site where the highest portion of its users were exposed to news, at 73 percent. Twitter and Facebook came in second and third respectively, with 71 percent and 67 percent.

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