After a catastrophic week of record-low temperatures in Texas and a brutal winter storm, millions of citizens were left shivering in the cold without electricity as the state’s electric grid operator lost control of the power supply. While power has been restored to most homes and businesses in the state, one major problem remains- a shortage of safe drinking water.
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On February 19th, the U.K. Supreme Court ruled that Uber drivers must be considered workers rather than self-employed, entitling thousands of Uber drivers to minimum wage and holiday pay, according to BBC News. The ruling requires drivers to be considered workers from the time they log on to the app until they log off.
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Last Friday, the House Committee of Financial Services called upon Robinhood and Citadel CEOs Vlad Tenev and Ken Griffin to testify before Congress for restricting trading of GameStop stock on the Robinhood app.
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There comes a time of year when everyone gathers to celebrate the end of something important. Of course, the conversation is about the Super Bowl. Every year, Americans gather at a house with a large TV in large numbers to divulge in food and drink and watch the two best teams duke it out in what is always poised to be the best game of the year.
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“Being in a minority, even in a minority of one, did not make you mad. There was truth and there was untruth, and if you clung to the truth even against the whole world, you were not mad.” ― George Orwell, 1984
George Orwell’s quote has never been more relevant than today. Even though something may feel uncomfortable to talk about, that does not make it untrue. Change can start with a single voice creating a ripple effect. Being the only one, does not mean that what you have to say is any less important even if it feels like the whole world is against you.
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Just as the auto industry demonstrated signs of recovery from the shutdowns last spring due to the coronavirus pandemic, an untimely issue regarding a dearth of semiconductor chips has arisen. Because of the global shortage of these silicon chips, nearly every major automaker, including Ford Motor Co, Toyota, and Nissan, have halted some form of car production and furloughed workers. Specifically, Ford and the General Motors Company predict lost earnings due to this unforeseen problem, potentially losing $2.5 billion and $2 billion, respectively.
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Amazon announced on February 2nd that Jeff Bezos will be stepping down from the position of CEO. The position will be turned over to Andy Jassy, chief executive of Amazon Web Services (AWS). Bezos will transition to the role of executive chair this summer, stepping away from the responsibilities of CEO while also remaining deeply involved in the company. According to NBC news, Bezos follows the continual pattern of American tech company founders stepping down from the CEO position, such as Bill Gates at Microsoft and Larry Ellison at Oracle.
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Investing in the stock market can be a very risky thing. Some individuals even compare it to gambling because it is hard to forecast the outcome of the stocks that one buys. For example, will the stock’s price rise or fall? Will one lose everything they invested? Or will one make enough money to retire early? It is nearly impossible to know. In recent weeks, the stock market has caught everyone’s attention in the nation and worldwide. By now, individuals across the country have probably heard of the GameStop (GME) stock frenzy. But what happened?
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Research has found that certain facial-recognition software perpetuates society’s existing inequities based on race, class, and gender. Joy Buolamwini, an M.I.T. Media Lab researcher, discovered that the facial-recognition algorithm she was working on could not detect her face – until she put on a white mask. She soon realized that many artificial-intelligence programs are trained to identify patterns using data sets that skew light-skinned and male results. Buolamwini stated, “When you think of A.I, it’s forward-looking, but A.I. is based on data, and data is a reflection of our history.”
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The Federal Reserve has promised to maintain record-low interest rates to support the United States economy in the pandemic’s worsening times. As COVID-19 cases continuously shatter record highs set by the U.S., it has left many economists convinced that the economy cannot make any sustained recovery until the epidemic is maintained and that most Americans will feel safe conducting their normal outdoor daily activities. Following the Fed’s update on its monetary policy last Thursday, the near-zero interest rates are intended to stimulate spending and inject liquidity into the economy.
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