Chemical Market Reports

Samuel Roan

Uber Selling Its Self-Driving Unit To Start-Up Aurora Innovation

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Uber has decided to sell its self-driving business to an autonomous vehicle startup in a complex deal. Aurora Innovation is not paying any cash for Uber Advanced Technology Group. Uber ATG currently values over USD 7 billion. Companies like Toyota, Vision Fund, and DENSO had invested USD 1 billion in it last year. This is a big development considering the fact that Uber had a few years ago announced that an autonomous vehicle research unit is key to its long term profitability. But this does not mean that the ride-hailing service provider has given up its promise of an autonomous vehicle. Uber will still be investing USD 400 million in Aurora.

Moreover, Uber CEO Dara Khosrowshahi will also be one of the startup’s board of directors. Aurora Innovations is founded by the former head engineer of Google’s self-driving car project. The deal puts an end to Uber’s dream of having autonomous driving vehicles in place of human-powered taxis. The deal also brings uncertainty over the job security of the employees as it is yet not clear whether Aurora will retain all of them or not. The deal may result in layoffs but an Uber spokesperson said that Aurora has committed to offering jobs to the majority of Uber ATG employees. “We are working out a plan with the officials of Aurora and will soon notify our teams,” the spokesperson added.

Uber was confident that spending millions of dollars on the ambitious dream will help it replace the fleet of human-powered taxis. Drivers are the main cost factor of the company and Uber was investing in this technology to eliminate this expense. Uber was working on it with the aim of taking over the world of transportation and provide cheaper options to its customers. But the company faced many obstacles and was even accused of stealing trade secrets of Google offshoot Waymo. Both companies reached a settlement but Anthony Levandowski, a former engineer of Uber, was recently sentenced to a jail term of 18 months for the crime. More troubling than that was an accident in 2018. A woman lost her life after being struck by an autonomous Uber vehicle. Her death was the first known fatality by a self-driving vehicle.

Hubble Space Telescope Observes Sunset Like View In Galaxy IC 5063

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Astronomers have claimed to capture large shadows formed around a massive black hole. They said that the effect was created after light got leaked by the dust disk. The latest discovery was made using the data transmitted by the Hubble Space Telescope. The astronomical observatory was launched by the US space agency NASA in 1990. The telescope has made some unexpected discoveries in the last three decades. The shadows stretch in each direction for at least 36,000 light-years. It was spotted nearby an active galaxy IC 5063. It is almost 156 million light-years away from Earth. Astronomers said that the latest discovery is evidence that there is dust all over the galaxy.

Researchers said that the supermassive black hole was blocked with the dense patches of dust and the light couldn’t make the way. However, the light got leaked and was captured by the NASA telescope. Astronomers said that the galaxy got merged with another galaxy recently. This predicted that its merger could have caused dust everywhere and the light was blocked by the dust ring. There is another possibility that the black hole jets kicked up dust. The photo used by the astronomers to make the discovery was captured by the telescope on November 25 last year. Harvard astronomer Peter Maksym said that this is something that the community has never seen before.

Astronomers added that the shadows are evidence that IC 5063’s disk could be very thin. This possibility cannot be ruled out completely and could be a factor behind the leakage of the light. The marvelous image showed a mixture of bright rays and dark shadows. The shadows are of the dust around the black hole. The disks are located far and it is impossible to find out more detail for the scientists. The views appear to be similar to sunset on Earth. Although scientists are studying the galaxy for a long, it took a team of astronomers to make the stunning discovery.

A Study From Oxford University Reveals COVID19 Reoccurrence Is Extremely Unlikely For Six Months

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A study has found that people who have been diagnosed with COVID19 and recovered from it are not likely to catch a second infection at least for six months. Experts have said that the findings of the study are quite encouraging as it is essential to understand how COVID19 immunity might work in the future. This is the first large scale study which shows how much immunity people have against reinfection after being diagnosed with COVID19 once. It is a part of a major alliance between Oxford University and Oxford University Hospitals NHS Foundation Trust. However, this study has not been peer-reviewed yet. The study has been released after a series of positive results of potential vaccines have surfaced in recent weeks. Two major pharmaceutical firms Pfizer and Moderna as well have announced positive phase two outcomes of their vaccines last week.

There is a rising optimism among people and health experts that a COVID19 vaccine might put an end to the COVID19 pandemic, which has killed over 1.3 million people around the world. However, public health officials think that it can take months or a year to allocate sufficient doses of any potential vaccine to attain herd immunity and contain the virus. The new study has observed around 12180 healthcare workers over 30 weeks. All the participants have been tested positive for antibodies against the SARS-CoV-2 virus, which leads to COVID19 disease. They have been diagnosed with the disease during the regular testing for COVID19. All of them have been sick and showing symptoms before the diagnosis. The findings of the study have shown that nearly 86 out of 11052 people, who do not have antibodies, have been diagnosed with a second infection with symptoms. At the same time, no one out of 1256 volunteers with antibodies has been diagnosed with symptomatic infection. People with antibodies have been at a lower risk of being infected with the virus without symptoms as well.

Scientists from Oxford University have said that it is good that at least for a short time, people with antibodies, who have been diagnosed with the disease once, will not get a second infection. On the other hand, people who have not tested positive for antibodies have been at a higher risk of contracting the virus again. However, experts have said that there is no enough data to validate that the protection from the first infection will last longer than six months. Experts are probing that how long this protection against reinfection will last.

NASA’s Curiosity Rover Helps Scientists In Finding Signs Of Mega floods On Red Planet

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The US space agency NASA has claimed to find signs of megafloods million miles away from Earth. The agency said that it has found floods of unimaginable magnitude on Mars. The latest discovery was made using data transmitted by Curiosity. Curiosity is a Mars rover designed by NASA. It was launched in 2011. NASA said that scientists have detected signs of floods once washed through Gale crater. The floods occurred at least four billion years ago. Signs about floods on the Red Planet are significant in the search for life on the planet. It hints that the planet had once favorable conditions to habitat life.

The NASA study said that the megaflood on Mars was touched off by the heat created due to a meteoritic impact. The impact was so intense that it unleashed ice stored. It caused gigantic ripples. This is the first time when scientists have made such a discovery. Scientists said that signs of megafloods were observed using sedimentological data by Curiosity. The most likely reason behind flooding on Mars was the melting of ice. Ice was melted from the heat that was generated by the meteoritic impact. This released carbon dioxide and methane from ice, triggering floods. Notably, deposits left behind due to the megafloods were never been previously identified.

The Curiosity team had previously mentioned that the Gale crater once had persistent lakes. These long-lived water bodies were indicators that the planet was capable of supporting microbial life. Recently, the MAVEN spacecraft team said that the planet lost water equivalent to an ocean of water four billion years ago. The Red Planet even today is losing water in the form of vapor. The team said that water is evaporated after sublimating from the frozen polar caps. This occurs mostly during the summer. The primary reason is warm temperature and strong winds accompanied by dust storms. This easily breaks water constituents, causing a loss. NASA’s MAVEN spacecraft is orbiting Mars for the last six years.

China’s Experimental COVID19 Vaccine Produces Rapid Antibody Response In The Early Trial

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Sinovac Biotech’s experimental COVID19 vaccine has shown promising results in the early trial. The vaccine has been able to activate a quick immune response. However, the level of antibodies triggered by the vaccine has been less than in people who have recovered from the disease. Experts have said that the early mid-stage trial has not been conducted to test the efficacy of the vaccine called CoronaVac. They have said that as compared to other vaccines and data from preclinical studies with macaques, this vaccine might offer enough protection. The findings of this study have been released after drug companies from the US Pfizer and Moderna have declared that their vaccines have been proved to be 90 percent effective in the large and late-stage trials. Four other vaccines along with CoronaVac, which are being developed by China, are in the late-stage trials, which will test their safety and efficiency.

The early mid-stage findings have been derived from phase 1 and phase two clinical trials, which have been conducted in China. These trials have enrolled around 700 participants. The lead author of the study, Dr. Zhu Fengcai has claimed that the findings of the trials show that two doses of the vaccine at a 14 days gap will trigger a quick immune response within four weeks of vaccination. Dr. Zhu has said that this vaccine might be appropriate for emergency use amidst the pandemic. However, there have been certain limitations in the phase two trial. Experts have noted that the phase two trial has included only healthy individuals. It has not enrolled people from a group, which is more susceptible to COVID19. Phase two trial has not involved people above 60 years and those who have been dealing with underlying health issues.

The phase two trial of the CoronaVac vaccine has not been able to test the T-cells response, which will be included in certain parts of the phase three trial, which is being conducted in Brazil. Phase three trial of this vaccine is under process in Indonesia and Brazil. These countries as well have reported most COVID19 cases after the US and India. Several experts from around the world have said that the findings of this early mid-stage trial must be treated with caution until the results of the phase three trial are out. The other two vaccines developed by China as well have shown positive responses in the early mid-stage trials. The finding of the early mid-stage trial of CoronaVac has been released in the medical journal The Lancet Infectious Disease.

Scientists Claim People Taking Acid Reflux Drugs Regularly Are At A Higher Risk Of Type 2 Diabetes

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A study has found that people who have been consuming acid reflux drugs might be at a 24 percent higher risk of being diagnosed with type 2 diabetes. Experts have warned people saying that those who are taking proton pump inhibitors (PPI) are twice more likely to be diagnosed with type 2 diabetes. Proton pump inhibitors are available in the market with the brand names of Prilosec and Nexium. The study says that the longer people use acid reflux drugs, the higher the risk of diabetes is. Scientists from Sun Yat-sen University in China have come up with this study. They have said that people, who have been using these medications for more than 2 years, need to get their blood sugar level checked for the diagnosis of diabetes.

Experts have said these proton pump inhibitors block the enzyme in the surface of the stomach, which produces acid, which prevents ulcers in the stomach. It also heals the existing ulcer, acid reflux, and rapid heartburn. There are nearly 15 million people in the US who use PPIs regularly. The team of experts has observed around 205000 participants who have been included in three previous studies the US Nurses’ Health Study (NHS), NHS II, and the Health Professionals Follow-up Study (HPFS). NHS and NHS II have analyzed the risk factor for chronic ailments among the women, while HPFS has evaluated the risk factor for severe disease in men.

Volunteers of these studies have been asked whether they have used PPIs for more than two years. At the end of the study, nearly 10000 volunteers have been diagnosed with type 2 diabetes. Barring other factors, the risk of type 2 diabetes among people taking PPI has been more than 50 percent. At the same time, the risk of diabetes among people who have not been taking PPI has been quite less. After evaluating other factors like high cholesterol and high blood pressure, people using proton pump inhibitors have been at a 24 percent increased risk of developing type 2 diabetes as compared to those who do not use it. Scientists have claimed that factors like age, sex, and family history are not important factors in increasing the risk of type 2 diabetes among people using PPI while these factors do play a bigger role in the higher risk of diabetes among people with body weight and blood pressure. This study has been published in the journal Gut.

Health Experts Claim Substance Use Might Increase People’s Susceptibility To COVID19

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A study has revealed that people who have substance use disorder are at higher risk of death due to COVID19 disease and infection. Experts say that people who are dealing with opioid use disorder and tobacco obsession are more likely to die due to COVID19 disease. The co-author of the study, Dr. Nora D. Volkow has said that such drugs reduce the ability of the immune system to fight against viral and bacterial infections. She has informed that opioid slows down the respiratory centers in the brain, which triggers the increased risk of COVID19 and its side effects. This study has been funded by the National Institutes of Health. It has been published in the journal of Molecular Psychiatry.

The epidemic of opioid, which has started in 1990, has turned into a global crisis now. Experts fear that with the ongoing COVID19 pandemic, both are going to collide soon in the US. The US Center for Disease Control and Prevention (CDC) has stated that nearly 70000 people in the US have died due to opioid overdose last year. Experts believe that the tally is going to increase in 2020. The overdose of the opioid is the result of the respiratory depressant effect of these drugs. Opioids like heroin, oxycodone, fentanyl, and hydrocodone immediately delay the rate of breathing. At the same time, COVID19 as well impacts normal breathing and makes it difficult for the patients to properly take the oxygen in. Experts say that consumption of tobacco, cocaine, and opioids is associated with a higher risk of heart issues as well such as heart attack and stroke. Cocaine works quite differently than opioids. It constricts the blood vessels. Severe cocaine use can trigger high blood pressure, which is a risk factor for severe COVID19.

Experts have concluded the study saying that all types of substance use is extremely comorbid with the usage of tobacco. This can make people more susceptible to respiratory ailments. The CDC as well has warned people that smoking can lead to heart and lung diseases and at the same time people with underlying heart and lung issues are at a higher risk of being diagnosed with severe COVID19 infection. The officials have said that smoking can cause inflammation, which weakens the immune system to fight off the infection. Health experts say that social distancing and restriction on social life have contributed to the higher number of people using the substance in the United States. The study advises that authorities need to include the screening and treatment of substance use as a part of the plan to contain the COVID19 pandemic.

McDonald’s Adds Bakery For First In Its Permanent Menu To Revive Breakfast Sales

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McDonald’s has decided to add new bakery items to its permanent menu for the first time in nearly a decade. The decision comes at a time when the breakfast war is at its peak heat during the pandemic. Customers of the fast food giant will add McCafé bakery lineup from October 28. The lineup will have three new options – a blueberry muffin, an apple fritter, and a cinnamon roll. These items will be available in all the restaurants in the United States all day across.  Vice president of brand and menu strategy Linda VanGosen said that the company knows that customers need a break more than ever. “We are excited to offer them another reason to pay a visit to their favorite breakfast destination by giving them delicious flavors they crave,” VanGosen said.

The decision is important because the breakfast sales of McDonald’s saw a downfall through the coronavirus. This is because many consumers were doing work from home and others opted not to venture out in order to keep themselves safe from getting infected with the COVID-19. This disrupted the company’s usual commutes. According to NPD Group, major restaurant chains witnessed a fall of 18 per cent in morning meal transaction in the week that ended June 7 compared to the same period last year.

While the sales of lunch and dinner of McDonald’s bounced back much quicker, the breakfast sale saw a very low response. The company is therefore trying everything to get back its sales target of pre COVID-19 era.  More importantly, the company’s most notable competitor is Wendy’s (WEN) has launched a breakfast menu option earlier this year. The option includes a mix of sweet and salty items such as Frosty-ccino and the Breakfast Baconator. Ever since, Wendy’s breakfast sale has seen an upward trend. Breakfast sales now account for 8 per cent of the company’s total sales. Not only Wendy’s but Taco Bell and its other rivals have also launched new breakfast menus.

Jane Fraser To Become First Woman CEO Of Citi Bank, Michael Corbat To Retire In February

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Citigroup is going to have a woman chief executive officer for the first time in its history. The major Wall Street bank has announced that current CEO Micahel Corbat will retire in February next year after being with the bank for 37 years. He will be succeeded by cur current head of Citi’s consumer banking business. Consumer lending veteran Jane Fraser will be the next CEO of the bank. She has been the top contender for the job ever since she was promoted to her current role last year. She has been with Citigroup for the last 16 years.

Fraser was also being reported to join the board of directors, effective immediately. Fraser, a banking veteran, holds an MBA from Harvard Business School and also a master’s degree in economics from Cambridge University. She has overseen several other businesses of the bank and served as chief executive of its Latin American region, its private bank, its commercial bank, and mortgage business. Before joining Citi in 2004, she was associated with Goldman Sachs and McKinsey & Company. Citi’s chairman John C Dugan said in a statement that Fraser is the right person to carry forward the legacy of Mike and take Citi to the next level.

Dugan said that Fraser has vast experience across Citigroup’s lines of business and regions and the group has a lot of confidence in her. “Her ability to operate a business and think strategically is a unique combination that will serve Citi well,” Dugan added. Currently, Fraser is looking after the consumer business in 19 countries. She started her career with the company’s corporate and investment banking in 2014. The move will put 53-year-old Fraser in a very small group of woman leaders at major corporations. According to the advocacy group Catalyst, there are just 31 females among the chief executive officers of the 500 companies that make up the S&P 500 stock index.

New survey Says Video Game Helps Children Enhance Mental Well Being and Communication

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Parents are always skeptical about their children spending more time on cellphones and video games. However, a new study has shown that playing video games might improve their literacy communication and mental well-being. This survey has been done by the National Literacy Trust. The agency has revealed some interesting facts about the impact of video games on children. The agency has interviewed around 4626 children under the age group of 11 years to 16 years across the UK. As per the study, around 35.3 percent of children who play video games have said that it makes them a vivid reader. Around 79.4 percent of children have confessed that they read gaming related material like gaming books and reviews at least once in a month.

Experts believe that such reading sessions might improve children’s writing skills as well. The survey has found out that almost 62.5 percent of people, who are interested in video games, write something related to gaming once in a month. Many people who play video games write fan fiction or blogs. Researchers say that shared cultural experience helps in building positive communication with friends and family too. The survey report has revealed that around 76.3 percent of young adults who play video games share the information with their friends as compared to 29.4 percent of readers, who talk about books. Young adults have confessed that playing video games helps them build a positive social relationship in real life and virtual life too.

The authors of the study have concluded the report saying that positive social connections and strong communication are very crucial for improved mental well-being. Experts have said that at times playing video games provides a breather from stress and difficult emotions to the young generation. It helps them deal with stress in a better way sometimes. It might be a big support for young adults amid the ongoing COVID19 lockdown. However, experts are not sure what kind of video games will actually help young children and how long it should be played. Survey Psychologist Rachel Kowert has said that in this high anxiety time and limited social access, video games are a good support to maintain social bonding in multifaceted ways.

India To Launch Third Moon Mission Chandrayaan 3 In 2021, To Carry Lander And Rover

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India is preparing to send a fresh mission to the Moon. The mission will be officially called Chandrayaan 3. The Indian Space Research Organisation aims to launch the mission in early 2021. The announcement was made by the Department of Space. The upcoming Moon mission will be different this time. The Chandrayaan 3 will not carry an orbiter. It will blast off from Earth with a lander and a rover. This will be India’s third lunar mission in over a little a decade. The mission was earlier slated for launch in 2020, but the coronavirus outbreak delayed the project. The ISRO is aiming to achieve a soft landing on Moon. This will be the second attempt by the ISRO to land a rover on the south pole of Moon’s surface.

The Indian space agency wants to explore the Moon. It had made an unsuccessful attempt to send a lander and a rover on the lunar surface in 2019. The objective of Chandrayaan 3 is to map and study its surface composition and abundance of water present on the Moon. The ISRO said that it will use Chandrayaan 2 orbiter to establish contact with the Chandrayaan 3’s lander and rover. Several countries have made attempts to land at the south pole in the past. If the mission yields a positive result, India will become the first country to land where no country has gone before till date.

Chandrayaan 1 was the first Indian mission. It was launched in October 2008 and included an orbiter. It operated till August 2009. The second one — Chandrayaan 2 was launched in September 2019. The mission included an orbiter, a lander, and a rover. While the orbiter was placed in the lunar orbit successfully, the lander couldn’t touch down the Moon surface smoothly. It had deviated from its defined trajectory minutes before the landing. All the three orbiter, lander, and rover were developed by the ISRO in India. According to ISRO’s claim, it had developed its technology to launch a mission to explore the Moon.

Study Reveals COVID19 Survivors Might Develop Heart Issues Post Infection

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A rising number of studies show that people who have been recovered from COVID19 infection might experience some type of heart issues, even if they do not have any underlying heart conditions. This is a new and potential worry for several health experts around the world. Dr. Greg Fonarow, the head of the Cardiology department at the University of California has said that many recovered COVID19 patients have been showing symptoms of cardiac arrest. It shows that there might be some patients who recover from COVID19 infection but later they can develop cardiovascular issues. There has been news that around 30 percent of student-athletes infected with COVID19 have complained of heart inflammation at Penn State University. Health inflammation is also known as myocarditis.

Dr. Fonarow has affirmed that complications like myocarditis might lead to an increase in heart failure. Health experts are also worried about people who already have heart issues and do not have COVID19 infection. Such people are hesitant to go to the hospital for the treatment, as they are scared of the virus. A report says that one-fourth of all the people who have been hospitalized with COVID19 infection have been diagnosed with heart complications later. Two studies have confirmed that heart issues among those who have been infected might be more extensive. Although it is difficult to identify who all will be at risk. These studies have been published in the Journal of JAMA Cardiology.

Experts have performed autopsies on 39 COVID19 patients and found that there has been some infection in their hearts. These patients have not been diagnosed with any heart issues during the COVID19 treatment. In another study, experts have used cardiac MRI on 100 people who have been recovered from COVID19 within two to three months. Around 78 percent of them have been diagnosed with abnormalities in their hearts. Experts have found that at least 60 percent of them have developed myocardial inflammation as well. The same research has shown high levels of the blood enzyme troponin in 76 percent of coronavirus survivors. Troponin, a blood enzyme is an indicator of heart damage. However, experts have said that most of these patients do not need hospitalization.

West Nile Virus Affected Patients Found In New Jersey

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West Nile virus, also known as WNV, is a virus spread through mosquitoes that feast upon an infected fowl. Recently WNV has surfaced in New Jersey where two cases have been found. The first patient from Essex County is in his Forties, while the second patient from Monmouth County is in his seventies. The New Jersey Department of Health, in its recent press release, had stated that West Nile virus activity in mosquitoes is much less in other seasons as compared to the rainy season. Residents are advised to take caution as West Nile virus human cases are mostly observed in September.

New Jersey has had a history of West Nile virus human cases. In the year 2018, there were 61 cases; in 2019, there were only 8 cases. In 2018, three deaths were reported in Bergen County due to WNV. The people who get infected with the West Nile virus do not usually display any symptoms. In the case of symptomatic infected people, patients develop flu-like illnesses. Even worse, the severe symptoms include swelling of the brain, which may result in coma/death. The immune system plays an important role in tackling this virus. It has been observed that people above the age of 50 are more likely to get infected. As for now, there is no such specific treatment for the virus.

Health officials have suggested that people need to tackle the main cause of, i.e. mosquitoes to prevent the disease. The only way to protect the public from the West Nile Virus is to control the mosquito population. This includes preventing standing water or grounds where mosquitoes can breed/grow. The commissioner of New Jersey Department of Environmental Protection, Catherine R McCabe, in her recent statement, has informed the New Jersey residents to protect their health and put in efforts to eliminate the mosquito population.

Japan’s SkyDrive Conducts Public Demonstration Flight Of Its New SD-03

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A startup in Japan has conducted a public demonstration of battery-powered flying cars for the first time. SkyDrive Inc’s new SD-03 flying car model still needs some improvement but the company is hopeful of starting its service for the public in 2023. It envisions that everyday commuting will be done by drone-like vehicles by the year 2030. These vehicles will drive on city roads before taking off like a helicopter. There is some tough competition in the field of vehicles which are generally referred to as aeromobiles or air taxis. Japan is lagging behind companies in the United States, Germany, and China in developing the technology.

SkyDrive conducted the test flight of its new care model at the approximately 2.5-acre Toyota Test Field, the largest in Japan. The single-seat 880-pound test vehicle was in the air for around four minutes. A pilot was at the controls but the computer-assisted control system ensured the smooth flight. Meanwhile, the technical staff was monitoring the performance of aircraft and flight conditions at all times. The aircraft is apparently the world’s smallest electric Vertical Take-Off and Landing (eVTOL) model and takes space of two usual cars. According to developers, they eventually hope to include wheels so that the vehicles could be driven easily into a garage. Chief Executive Tomohiro Fukuzawa said the whole aim behind the concept is to develop something that someone could use easily on a daily basis.

There are 8 electric motors that drive rotors fixed at four locations. Each position has two rotors that individually rotate in the opposite direction. Eight motors have been used to ensure the highest safety in case of emergency. The vehicle is so far in position to fly for only five to ten minutes. Fukuzawa said that the machine will have more potential if this time can be increased to 30 minutes. SkyDrive is planning to conduct several such test flights under an expanding range of conditions in order to improve its features.

Apple Issued Notice To All Of Its Retail Workers Of Work From Home Since Stores Have Shut Down

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Tech giant company Apple has shut down some of its retail stores in the country because coronavirus cases are increasing at a rapid rate. Even after so many days of lockdown, theUS is witnessing a massive spike in COVID-19 cases. As a result of it, Cupertino, California based Apple store notified its employees of work from home. Apple store authorities issued a video message to all of its employees in which they requested employees to work from home. The official memo issued to employees says they will be provided with medical kits, and every other necessary thing will be provided at their home.

There is a high chance that the end of the year might not reopen this store, said by the authorities in this official memo. Employees have been ordered to provide all the necessary services required by the customers who bought the phone online from their store. Employees were instructed to work from home and be in contact with every customer remotely. Apple executives said they are witnessing a surge in demand for mobile phones online since many things are happening on a smartphone during the pandemic situation. This period customers saw a significant wait time problem, and executives want to fix this issue. The demand and after-sales service provided by the company’s store is essential, and they want employees to get ready.

The pandemic situation has benefited the company because the overall stock of Apple rose with a significant margin. Out of Apple’s total 271 stores, 90 had to shut down their operations and implemented work from home policies because of a spike in coronavirus cases. Now it’s quite apparent that other stores might also apply this strategy considering the fact so many new numbers of coronavirus cases coming in the country.

FDA Said More Than 77% Off The Sanitizers Are Toxic

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Because of the coronavirus pandemic, everyone is using various types of sanitizers which are coming into the market. However, a new report from the FDA states that more than 77% of the sanitizers are toxic. FDA currently recalled more than dozens of sanitizers which are being sold at Walmart and other stores either online or offline. These sanitizers were recalled after the FDA regulators found out it contains a significant level of methanol or wood alcohol. More than 77 new products which are being launched into the market have been recalled. These products were the result of the current pandemic situation created by the coronavirus.

Now the market is so big that sals of these sanitizers skyrocketed. FDA said these sanitizers which were labelled as they contain ethanol was not true. Instead, it contains a large amount of methanol. The regulators said methanol could be toxic at dangerous levels since it could lead to blindness also. These products which were recalled, the majority of them are produced in Mexico. The market for sanitizers has increased significantly from the last few months. The coronavirus outbreak has forced many companies to produce and market new types of sanitizers.

Now the majority of these sanitizers which are produced by new companies aren’t up to the best quality. Now the new cases of sanitizers being consumed by addicts is coming every day. Since the percentage of alcohol is higher in these sanitizers, addicts are consuming it to get high. These people have higher chances of showing side effects since indirectly, they are consuming methanol. FDA is now taking dangerous actions to measure the quality of new sanitizers coming into the market. The health regulators are requesting people to report any of the side effects they are getting after using any new sanitizer. You can report any adverse finding of these products on the FDA’s official website.

China’s Export For The June Went Up As The Reopening Of Economy Started

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Since the coronavirus pandemic started, Chinese economy witnessed a vast number of losses during that period. But, now they are recovering better than other countries who are still going through a severe economic and health crisis period. Recent reports from China show the Asian country’s exports rose at a higher rate after the reopening of the economy. Custom departments reports of Chinese economy shows exports rose by 0.5% in June as compared to the previous year. Analysts predicted the situation would be drastic because according to them, the country would witness downfall by 1.5% in overall exports.

Imports on the other side also rope up by 2.7% as compared to last month’s downfall of 16.7%, which shows the drastic improvement in the export sector as well. Demandforce PPEs(Personal Protective Equipment) have grown, and China is becoming a major supplier of these goods. Overseas demand for medical products is still quite high, especially during the pandemic situation, which is benefitting a lot for the Chinese economy. Chinese economy might seem to be recovering at the front, but they are suffering from a considerable number of long term losses as the analysts say about this report. Globally coronavirus cases are increasing at a higher rate, and many countries are still going through their worst phases.

Countries like America, India have already started trade bandwidth CHina which is impacting negatively on their import-export sector. Asian market might be recovering at a higher rate than ever before, but the long term which they might suffer because of COVID-19 virus is still higher than anything else. The rise in China’s import is because of significant investment in real estate and other sectors. President Trump already said that he is not thinking of starting a new trade deal with China, and it might severely damage the import-export industry of the Asian country.

President Trump Is Celebrating The Latest Drop In Unemployment Rate As A Victory

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Since the coronavirus pandemic happened, things went down negatively for Trump and his administration. Millions of people filed for unemployment during April and the rate of unemployment was nearly 15%. However, the latest reports reveal that the rate of unemployment went down to 13.3%, as Trump’s decision to reopen the economy benefited people getting back to their jobs. Even though many analysts predicted that the unemployment percentage would rise in May, some of them also said it would touch the benchmark of 20%.

However, in reality, Trump’s decision to restart the economy has given millions of people their jobs back, and he is celebrating it as a victory. The presidential election is now a few months away, some republicans are trying to beat him as a contender, but it seems like Trump us quite enjoying the position. Trump tweeted about the rate of unemployment getting to the lowest rate, such as 13.3%, and added various news sources.

He mentioned big news channels covering this news clearly, and the press praised him for maintaining such a lower level of unemployment in the country. Big news sites mentioned this news by using words like “stunner,” “incredible,” “amazing,” and Trump said these keywords specifically. As everyone knows, the media doesn’t like Trump, and the feeling goes the same from his side also. However, this time, he got praise for taking the rate of unemployment to the lowest level.

This report comes in a tough time because the country is facing health as well as racial problems. This report shows black unemployment stood at 16.8%, while white unemployment, on the other hand, was 12.4%. White House is currently worried more about the ongoing protest in the country because that social issue is increasing at a very high rate.

Trump Said Warren Buffett Has Made A Mistake By Selling Airline Stocks

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The famous oracle of Omaha, legendary investor Warren Buffett, recently shocked everyone when his investment firm Berkshire Hathaway declared the sale of airline stocks. Because of the pandemic, many airline companies like United Airline, American Airline, Southwest Airlines reported vast numbers of losses. Buffett, to stop the temporary losses, sold the majority of its stock from the airline industry. However, on Thursday, this sector rose on the wall street after the labour department revealed the number of low unemployment. The reopening of the economy by the Trump administration has given the right amount of benefit to the airline industry, and that’s why these company stocks went up significantly.

Trump now said even the legendary investor like Warren Buffett also made a mistake during this pandemic situation. He said Warren Buffett shouldn’t have sold his stake in the airline industry and should have kept some patience since the latest positive trend benefited this sector a lot. Trump said he has great respect for legendary investor Warren Buffet, but even he also made mistakes. In the last annual meeting of Berkshire Hathaway, Buffett revealed his company sold more than $6 billion worth of airline stock, because of which this sector started to go down.

The investors went into a panic, and now after getting the latest report from the labour department of unemployment slowing down, investors felt good. Buffett who while selling these stocks said he is looking for lots of trouble for this industry since carriers service has stopped. But, now the carrier services have resumed, and big airline companies are aiming to come back on the regular business again in just a few months. Buffett hasn’t given any immediate comment about Trump saying how he failed to predict the outcome for which he is famous.

Bitcoin Crossed The Benchmark Of $10000 For The First Time In Last Three Months

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The crypto market made lots of news a few months ago because of the decline at a rapid rate, which is now creating rebounding. Things are getting quite suitable for crypto investors during the lockdown period because bitcoin and other cryptocurrencies are rising well from the last few days. Recently bitcoin crossed the benchmark of $10000 For the first time since February. May was quite good but not that much because bitcoin failed five times to pass the benchmark limit of $10000 five times in a row. However, June has brought news for all crypto investors because now the price has finally crossed $10000 For The First Time since the last three months.

The price of bitcoin crossed over $10500 but slowly went down and now trading safely at above $10000, which is significant. The first time bitcoin reached this limit was on May 7 when the price reached the ten thousand dollars benchmark, but it went down slightly soon to $8000. However, now the market has rebounded, and investors seemed to be quite positive about all of these things. Three months of a pandemic has given lots of benefits to all investors in the crypto market; the stock market, on the other hand, has become weak.

From the last three months, the stock market has gone down approximately 30% from the previous two months. A technical analysis of bitcoin shows that the downward return will come again, and it will retake the bitcoin to $9800 or even more. Things are getting quite exciting for all crypto investors because they are now experiencing what others call a peak. The stock market is still not able to stabilize from the loss of the coronavirus pandemic created in the last few months, and it will become weaker unless the reopening of the economy happens.

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