Archives for April 2021

Pakistan lifts weekslong ban on TikTok over racy content

PESHAWAR, Pakistan (AP) — Pakistan’s media regulatory agency on Thursday reinstated access to the Chinese video service TikTok, after a court banned it weeks ago and urged authorities to ensure that it carried no “vulgar” content.

The court in Peshawar had issued the ban on March 11 following complaints about the alleged presence of “immoral and indecent content” on the popular social media app. On Thursday, after consulting with the media agency, it repealed it.

At the hearing, senior agency official Tariq Gandapur said that contact had been established with TikTok to ensure those who share obscene content are blocked. The app, owned by China’s ByteDance, has been downloaded almost 39 million times in Pakistan.

Pakistan and China are close allies in the region. Last year, Pakistan had also blocked TikTok for 10 days over the same issue.

Rio Open tennis tournament canceled due to COVID-19 spike

RIO DE JANEIRO (AP) — This year’s Rio Open tennis tournament was canceled on Thursday because of the spike in COVID-19 cases in Brazil, organizers said.

The ATP tournament had already been postponed from its original February dates, and organizers said the continued uncertainty around the pandemic meant it would not be rescheduled.

“We fought until the end to be able to play in 2021, but unfortunately it is not possible,” said tournament director Luiz Carvalho.

The coronavirus has killed more than 320,000 people in the South American nation, with March its deadliest month since the pandemic began.

Organizers said next year’s tournament would be played in February. The 2020 Rio Open champion was Chile’s Cristian Garin.

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More AP tennis: https://apnews.com/hub/tennis and https://twitter.com/AP_Sports

TSP fairly stable for March, major improvement from 2020

To say Thrift Savings Plan monthly returns have improved since this time a year ago is probably an understatement.

Last month, all funds except the fixed income investment F fund and the securities-backed G fund had higher returns compared to March 2020, when the pandemic was in full swing domestically. A year ago, most stock funds and all Lifecycle funds took an unprecedented plunge as global economic uncertainty and unusual activity by TSP investors— active feds and retirees unsure about their future — came to a head.

Year over year, the biggest improvement was in the small capitalization stock index S Fund, which finished last month at -5.60% compared to -21.40% in March 2020, according to numbers released by the TSP on Thursday.

Month-over month, however, the biggest increase was the common stock index investment C fund, which went from 2.76% in February to 4.38% in March 2021. The international stock index I Fund increased from 2.26% in February to 2.35% last month, and the F fund rose from -1.45% to -1.23% in that time.

The G fund increased from 0.08% in February to 0.11%. The G fund was unchanged from March 2020, while the F fund was down by 0.59% since then.

Among Lifecycle funds, all finished March in the black while three decreased in performance since the previous month: The L 2055, 2060 and 2065 funds. The biggest change from 2020 was the L 2050, which rose 14.23%, and the biggest monthly increase was the L 2025, which rose 0.09% since February.

Thrift Savings Plan — March 2021 Returns
Fund	March	Year-to-Date	Last 12 Months
G fund	0.11%	0.27%	0.83%
F fund	-1.23%	-3.35%	0.77%
C fund	4.38%	6.17%	56.32%
S fund	-0.39%	7.79%	97.79%
I fund	2.35%	3.52%	44.87%
L Income	0.71%	1.24%	11.54%
L 2025	1.44%	2.55%	n/a
L 2030	1.78%	3.18%	32.49%
L 2035	1.93%	3.46%	n/a
L 2040	2.08%	3.76%	39.66%
L 2045	2.20%	4.01%	n/a
L 2050	2.33%	4.28%	46.20%
L 2055	2.92%	5.47%	n/a
L 2060	2.92%	5.46%	n/a
L 2065	2.91%	5.46%	n/a

Taiwan chip maker TSMC to invest $100B to grow capacity

TAIPEI, Taiwan (AP) — Major Taiwan computer chip maker Taiwan Semiconductor Manufacturing Co. plans to invest $100 billion in the next three years in expanding its manufacturing capacity and supporting research and development, the company said Thursday.

The world’s biggest contract producer of semiconductors, TSMC said it anticipates faster growth thanks to long-term trends like the introduction of next-generation telecommunications and high-performance computing. The coronavirus pandemic, meanwhile is revving up demand for electronic devices as the world relies increasingly on digitalization.

“TSMC is working closely with our customers to address their needs in a sustainable manner,” the company said in an emailed statement. It did not give further details about planned investments.

TSMC makes processor chips for major brands like Apple Inc. and Qualcomm Inc. Surging demand pushed its revenue 18% higher in January-February from a year earlier, it reported earlier.

Intel, South Korea’s Samsung Electronics and other chip makers also have been boosting investments to meet rising demand and joust for market share in advanced semiconductors.

Most semiconductors used in smartphones, medical equipment, computers and other products are made in Taiwan, South Korea and China.

Last week, Intel announced plans to pour $20 billion into expanding production, building two new factories in Arizona. The company is building up its foundry business but lags behind TSMC in developing a next-generation chip-making process.

TSMC operates a semiconductor wafer fabrication facility in Camas, Washington, and design centers in San Jose, California, and Austin, Texas.

It has announced plans to invest $3.5 billion in a second U.S. manufacturing site, in North Phoenix, Arizona, as concern grows over heavy American reliance on sources in Asia for high-tech components.

Biden holds first Cabinet meeting amid infrastructure push

WASHINGTON (AP) — President Joe Biden used his first Cabinet meeting to promote his new infrastructure plan, but the gathering had a very different look and tone from those held by his predecessor.

To begin with, the full Cabinet met Thursday in the spacious East Room, rather than the comparatively cramped West Wing room that bears its name, to allow for social distancing. All attendees, including the president, donned masks. And the afternoon meeting did not include the over-the-top tributes to the chief executive that came to define Cabinet meetings held by President Donald Trump.

The timing of the first meeting was deliberate: a week after the full Cabinet was confirmed and a day after Biden released his infrastructure plan, which will likely dominate Washington through the summer and shape next year’s midterm elections.

The White House allowed press to witness just the opening three minutes of the meeting, where the president tapped five Cabinet secretaries “to take special responsibility to explain the plan to the American public.” He directed Transportation’s Pete Buttigieg, Energy’s Jennifer Granholm, Housing and Urban Development’s Marcia Fudge, Labor’s Marty Walsh and Commerce’s Gina Raimondo to be visible to Americans and lead outreach on Capitol Hill.

Biden also directed the entire Cabinet to examine their agency spending to ensure it follows his “Buy American” commitment.

With the sales blitz for the infrastructure plan just beginning, the focus of the meeting will be on how the package can help across government, as well on continuing to emphasize the benefits of the $1.9 trillion COVID-19 relief bill that Biden signed into law this month, said White House deputy press secretary Andrew Bates.

Cabinet meetings in the modern era are less about setting administration policy than ensuring that all the government agencies are on the same page, say former officials. The sessions also are an opportunity for the president to make his priorities and values clear. Policy debates are generally reserved for smaller, subject-specific gatherings of Cabinet officials and senior advisers, such as the National Security Council and the Domestic Policy Council.

“As the federal government has become increasingly complex over the years, the role of the Cabinet has evolved as well,” said Chris Lu, President Barack Obama’s first-term Cabinet secretary. “In addition to serious policy discussions, Cabinet meetings are an opportunity for the president to lay out broad directions for how his team should operate.”

“The meetings can help align priorities, build morale, and allow Cabinet members to develop relationships with colleagues who they don’t normally see,” Lu said.

All 16 permanent members of the Cabinet — the vice president and heads of the executive departments, including Treasury Secretary Janet Yellen, Secretary of State Antony Blinken and Pentagon chief Lloyd Austin — are attending in person. So were other Cabinet-ranked officials, including White House chief of staff Ron Klain and Director of National Intelligence Avril Haines.

Shalanda Young, acting budget head, was participating because Neera Tanden, Biden’s first choice for that job, withdrew her nomination amid Senate opposition. Biden is also awaiting the confirmation of Eric Lander to be the director of the Office of Science and Technology Policy, a post that the president has elevated to Cabinet rank.

In all, 25 people were attending, the White House said. In normal times, scheduling an in-person Cabinet meeting would require weeks, if not months, of planning to block off time in the travel schedules of the various principals. But most have remained in Washington due to the pandemic.

Trump’s Cabinet meetings became known for their high level of presidential adoration, with “Dear Leader”-esque praise coming from attendees. His first full Cabinet meeting, held in June 2017, began with Vice President Mike Pence declaring that it was “the greatest privilege of my life to serve as the vice president to the president who is keeping his word to the American people.”

Archives for April 2021

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