Connect with us

Business

U.S. senators grill Facebook exec about Instagram's potential harm to teen girls – CBC.ca

Published

 on


Senators fired a barrage of criticism Thursday at a Facebook executive over the social-networking giant’s handling of internal research on how its Instagram photo-sharing platform can harm teens.

The lawmakers accused Facebook of concealing the negative findings about Instagram and demanded a commitment from the company to make changes.

During testimony before a Senate commerce subcommittee, Antigone Davis, Facebook’s head of global safety, defended Instagram’s efforts to protect young people using its platform. She disputed the way a recent newspaper story describes what the research shows.

“We care deeply about the safety and security of the people on our platform,” Davis said. “We take the issue very seriously.… We have put in place multiple protections to create safe and age-appropriate experiences for people between the ages of 13 and 17.”

Sen. Richard Blumenthal, a Democrat from Connecticut, the subcommittee chairman, wasn’t convinced.

“I don’t understand how you can deny that Instagram is exploiting young users for its own profit,” he told Davis.

The panel is examining Facebook’s use of information from its own researchers that could indicate potential harm for some of its young users, especially girls, while it publicly downplayed the negative impacts. For some of the Instagram-devoted teens, the peer pressure generated by the visually focused app led to mental-health and body-image problems, and in some cases, eating disorders and suicidal thoughts, the research showed.

Senator compares Instagram to cigarettes

The revelations in a report by The Wall Street Journal, based on internal research leaked by a whistleblower at Facebook, have set off a wave of anger from lawmakers, critics of big tech, child-development experts and parents.

Comparisons to the tobacco industry’s coverups of cigarettes’ harmful effects abounded in a session that united senators of both parties in criticism of the giant social network and Instagram, the photo-sharing juggernaut valued at around $100 billion that Facebook has owned since 2012.

Said Sen. Edward Markey, a Democrat from Massachusetts: “Instagram is that first childhood cigarette meant to get teens hooked early. Facebook is just like big tobacco, pushing a product they know is harmful to the health of young people.”

The episode is quickly burgeoning into a scandal for Facebook approaching the level of the Cambridge Analytica debacle. Revelations in 2018 that the data mining firm had gathered details on as many as 87 million Facebook users without their permission similarly led to a public-relations offensive by Facebook and congressional hearings.

Democratic Sen. Amy Klobuchar, left, speaks with Republican Sen. Marsha Blackburn during the Senate hearing on children’s online safety and mental health. (Patrick Semansky/The Associated Press)

“It’s abundantly clear that Facebook views the events of the last two weeks purely as a PR problem, and that the issues raised by the leaked research haven’t led to any soul-searching or commitment to change,” said Josh Golin, executive director of the children’s online advertising group Fairplay. The group, formerly known as the Campaign for a Commercial-Free Childhood, doesn’t take money from Facebook or companies, unlike the nonprofits Facebook tends to bring in for expert advice on its products.

Tech giant pauses kids version of Instagram

Facebook’s public response to the outcry over Instagram was to put on hold its work on a kids’ version of Instagram, which the company says is meant mainly for tweens aged 10 to 12. On Monday, Instagram head Adam Mosseri said in a blog post that the company will use its time out “to work with parents, experts and policymakers to demonstrate the value and need for this product.”

Already in July, Facebook said it was working with parents, experts and policymakers when it introduced safety measures for teens on its main Instagram platform. In fact, the company has been working with experts and other advisers for another product aimed at children — its Messenger Kids app that launched in late 2017.

WATCH | Why Instagram is not an accurate reflection of reality:

Why Instagram is bad for kids

2 days ago

Professor Aimée Morrison at the University of Waterloo says young people are even more susceptible to the worst parts of social media than adults are. 0:39

Pressed by senators, Davis wouldn’t say how long the pause would last. “I don’t have a specific date but I do have a commitment” that Facebook executives will consult with parents, policymakers and experts, she said. “We want to get this right.”

Blumenthal and Sen. Marsha Blackburn of Tennessee, the panel’s senior Republican, also plan to take testimony next week from a Facebook whistleblower, believed to be the person who leaked the Instagram research documents to the Journal. An interview with the whistleblower is set to air on CBS’ 60 Minutes program Sunday.

Davis, a one-time middle school teacher and aide in the Maryland attorney general’s office, insisted that the research on Instagram’s impact on young people “is not a bombshell.”

“This research is a bombshell,” Blumenthal countered. “It is powerful, gripping, riveting evidence that Facebook knows of the harmful effects of its site on children, and that it has concealed those facts and findings.”

Adblock test (Why?)



Source link

Continue Reading

Business

Dollar set for another week of losses even as Fed tapering looms

Published

 on

The dollar was heading for a second week of declines on Friday as sentiment stayed tilted towards riskier assets, while an intervention by the Australian central bank put a halt to the Aussie dollar’s recent surge.

The dollar index was last at 93.733, little changed in Asian hours but off 0.24% on the week, as it continues its fall from a 12-month high of 94.565 hit in earlier this month.

It had managed to stem losses on Thursday, bouncing on better U.S. jobs and housing data, but the rally petered out on Friday morning in Asia, where risk sentiment was boosted news that beleaguered developer China Evergrande Group has supplied funds to pay interest on a U.S. dollar bond, averting a default.

But traders are still trying to assess whether the dollar has scope to fall further, or if this is a temporary blip on a march higher.

“People are wondering whether we are at an inflection point, as the dollar has been weakening and that doesn’t really fit with the broader narrative that global growth is cooling and the Fed is on the path to tapering, which should be supportive for the dollar,” said Paul Mackel, global head of FX research at HSBC.

On Friday, benchmark 10-year U.S. Treasury yields were at 1.6872%, slightly off from Thursday’s multi-month high of 1.7%, as markets continue to prepare themselves for an announcement by the Federal Reserve that it will start to wind down its massive bond buying programme, which is widely expected for November.

Mackel said part of the reason for the dollar’s weakness had been strong performances by currencies from most commodity exporting countries.

These were quieter on Friday, however, as traders took profits, analysts said, and energy prices softened.

Brent crude, which had risen above $86 dollars a barrel on Thursday, continued its tumble and was last at $84.10.

The Australian dollar was at $0.7475, off Thursday’s three-month top, as the boost to the China-exposed currency from Evergrande’s news was outweighed by action from the Reserve Bank of Australia to stem a bond sell off, as well as the pause in energy price rises.

The RBA said on Friday it had stepped in to defend its yield target for the first time in eight months, spending A$1 billion ($750 million) to dampen an aggressive bonds sell-off as traders have bet on inflation pulling forward rate hikes.

Also affected by energy prices, the Canadian dollar slipped to C$1.2352 per U.S. dollar, off Thursday’s C$1.2287, a level last seen in June.

The British pound paused for breath at $1.3798, off a month peak hit earlier in the week, to which it had been carried by growing expectations of an interest rate hike to combat rising inflationary pressures.

The euro was little changed at $1.1627, while the yen wobbled within sight of its multi-year lows, with one dollar worth 114.01 yen, compared with 114.69 earlier in the week, a four-year low.

China’s yuan eased against the dollar on Friday after the FX regulator warned of possible action if the currency market is hit by greater volatility following its recent rally. But the yuan still looked set for the biggest weekly gain since May.

Bitcoin was at $63,928, a little off Wednesday’s all-time high of $67,016

 

(Reporting by Alun John; Editing by Sam Holmes and Kim Coghill)

Continue Reading

Business

Pandemic opens doors to switch jobs in Japan, but pay not rising much

Published

 on

The  Covid-19 pandemic has unexpectedly helped Japan’s nursing homes and  Information Technology companies overcome years of labour shortages, as job cuts at restaurants and hotels have prompted workers to look for new careers.

This newfound job mobility marks a shift in a country whose rigid labour practices are partially blamed for a long term decline in productivity.

But it is too soon to say whether the change will ultimately lead to higher wages, which are desperately needed to revive demand and growth in an economy that is still struggling to break free from decades of deflation.

For now, the job-hoppers tend to trade one low-paying career for another.

Toshiki Kurimata, who used to make 2.8 million yen ($25,000) a year as a masseur, quit after 12 years as the pandemic caused a sharp drop in customers. Now he works at a nursing care centre and is taking classes to become a registered caregiver.

With that qualification, he expects to earn around 3.3 million yen – an increase of about 18%. The even bigger attraction, he says, is job stability.

“I like working in nursing care and it’s stable,” Kurimata said. “There aren’t age limits on the work and you can find work even if, like me, you are inexperienced.”

Experts aren’t sure whether the job-switching will remain limited to certain industries or become a broader trend.

It is also uncertain whether job switching will continue once the pandemic dies down, although anecdotal evidence suggests people will keep leaving food-service jobs for nursing and IT.

Japan expects to have a shortage of 690,000 care workers by 2040, a tough gap to fill given the rapidly ageing population.

LOW-INCOME

OECD data put Japan’s hourly labour productivity at $47.9, making it about 60% of the United States’ level, the worst among the Group of Seven (G7) advanced economies, and 21st

among the 37 OECD members as of 2019.

And the prospect of people being stuck in low income jobs poses a big challenge for Japan’s new Prime Minister Fumio Kishida, who has pledged to bring more wealth to households via higher wages.

“COVID-19 fallouts are pushing low-paid workers into even harder situations with little, or no, increase in pay,” said Hisashi Yamada, senior economist at Japan Research Institute.

Hospitality businesses have laid off workers, with the number of employees falling to 3.9 million in 2020 from the prior year’s 4.2 million, labour ministry data shows.

By contrast, the medical and health industry saw employees hitting 8.6 million, up 200,000 from 2019. The IT sector hired 2.4 million employees, up 100,000 from 2019.

JOB TRAINING

Vocational training schools have benefited.

SAMURAI, which offers IT training, had 1.7 times more students enrolled as of April 2021 compared with a year earlier, as employees retrenched during the pandemic rushed to retrain.

Most IT jobs on offer for inexperienced workers are for programmers, on the lowest rung of the IT ladder, but they generally still pay more than can be earned in hospitality.

The average annual salary for employees at restaurants and nursing homes amounts to roughly 3 million yen, 30% less than an average Japanese workers’ salary, government data shows. IT programmers earn close to the national average.

“I saw how popular the IT sector was and thought I may land a stable job,” said Koki Shimizu, a 22-year-student at SAMURAI who lost his job as a chef and now is learning to program.

At Crie, which offers training in nursing care, classes that were only two-thirds full before the pandemic are now packed out.

The company’s head Takayuki Nakayama expects the uptrend to continue given steady job offers in the nursing care industry.

“It’s true wages are relatively low in the nursing-care industry. But many job-seekers want stability after seeing the damage inflicted on eateries and other service-sector firms.”

Retailers are also becoming alarmed over losing staff, as they are counting on a rebound in activity as Japan gradually eases COVID-19 restrictions.

Major Japanese pub chain operator Watami is scrambling to hire 100 mid-career staff this year – something it has not done for three years – and it reckons that eventually it may have to pay more.

“1,000 yen per hour may not be enough, 1,500 yen may be needed to attract workers in the future,” said the company’s chief executive Miki Watanabe.

For now, firms are wary of raising pay as the economy is still struggling in the wake of the pandemic.

($1 = 114.0100 yen)

 

(Reporting by Tetsushi Kajimoto; Editing by Leika Kihara, David Dolan & Simon Cameron-Moore)

Continue Reading

Business

Pfizer-BioNTech report high efficacy of COVID boosters in study – Al Jazeera English

Published

 on


The companies say phase III trial data show booster shot of COVID-19 vaccine was 95.6 percent effective against the disease.

American pharmaceutical company Pfizer and its partner BioNTech have said data from a Phase III trial demonstrated high efficacy of a booster dose of their COVID-19 vaccine against the coronavirus, including the Delta variant.

They said a trial of 10,000 participants aged 16 or older showed 95.6 percent effectiveness against the disease, during a period when the Delta strain was prevalent.

The study also found that the booster shot had a favourable safety profile.

Pfizer had said its two-shot vaccine’s efficacy drops over time, citing a study that showed 84 percent effectiveness from a peak of 96 percent four months after a second dose. Some countries had already gone ahead with plans to give booster doses.

The drugmakers said the median time between the second dose and the booster shot or the placebo in the study was about 11 months, adding that there were only five cases of COVID-19 in the booster group, compared with 109 cases in the group which received the placebo shot.

“These results provide further evidence of the benefits of boosters as we aim to keep people well-protected against this disease,” Pfizer CEO Albert Bourla said in a statement.

The median age of the participants was 53 years, with 55.5 percent of participants between 16 and 55 years, and 23.3 percent at 65 years or older.

The companies said they would submit detailed results of the trial for peer-reviewed publication to the US Food and Drug Administration (FDA), the European Medicines Agency, and other regulatory agencies as soon as possible.

The US and European regulators have already authorised a third dose of COVID-19 vaccines by Pfizer-BioNTech and Moderna Inc for patients with compromised immune systems who are likely to have weaker protection from the two-dose regimens.

Adblock test (Why?)



Source link

Continue Reading

Trending