• World
    Associated Press

    President Trump says UAE to open diplomatic ties with Israel

    President Donald Trump said on Thursday that the United Arab Emirates and Israel have agreed to establish full diplomatic ties as part of a deal to halt the annexation of occupied land sought by the Palestinians for their future state. The announcement makes the UAE the first Gulf Arab state to do so and only the third Arab nation to have active diplomatic ties to Israel.

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  • Health

    Is COVID-19 worse than the Spanish flu of 1918? New study shows deaths in New York quadrupled in early months

    The study compares the two months since the first recorded death of COVID in New York City with the deadliest two months of the 1918 calamity.

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  • Entertainment

    See Todd Chrisley React to Sons Chase & Grayson's Popcorn Mess on Chrisley Knows Best

    Brothers Chase and Grayson Chrisley attempt to make a new popcorn flavor in this hilarious Chrisley Knows Best sneak peek!

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  • Business

    China’s Days as World’s Factory Are Over, IPhone Maker Says

    (Bloomberg) -- A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China’s time as factory to the world is finished because of the trade war.Hon Hai Precision Industry Co. Chairman Young Liu said it’s gradually adding more capacity outside of China, the main base of production for gadgets from iPhones to Dell desktops and Nintendo Switches. The proportion outside the country is now at 30%, up from 25% last June.That ratio will rise as the company -- known also as Foxconn -- moves more manufacturing to Southeast Asia and other regions to avoid escalating tariffs on Chinese-made goods headed to U.S. markets, Liu told reporters after his company reported financial results.“No matter if it’s India, Southeast Asia or the Americas, there will be a manufacturing ecosystem in each,” Liu told investors on a conference call, adding that while China will still play a key role in Foxconn’s manufacturing empire, the country’s “days as the world’s factory are done.”Foxconn said in a statement Thursday that, contrary to “inaccurate media reports,” management’s comments during the call did not refer to any specific companies, facilities or products, and were intended to reflect macroeconomic and industry trends.Intensifying trade tensions between Washington and Beijing have pushed device manufacturers to diversify their production bases away from China, and Liu last year said that Apple’s most prized product, the iPhone, can be made outside China if needed. The two nations remain in trade talks, but Liu’s comments affirm a growing expectation that the China-centric electronics supply chain will fragment over the longer term.Read more: Trump Tumult Has Gadget Giants Splitting Along U.S.-China LinesThe Taiwanese company reported better-than-expected net income of NT$22.9 billion ($778 million) for the quarter ended in June, a period that saw increased demand for iPads and MacBooks. Revenue was NT$1.13 trillion, but Hon Hai warned it expects its third-quarter sales will be down by double digits relative to 2019. Apple is expected to delay its iPhone launch this year.Hon Hai is bouncing back from a record profit slump in the first quarter as production at its factories recovered and shelter-in-place orders spurred demand for home computing equipment. The pandemic likely boosted iPad and Mac sales, even as Apple store closures weighed on iPhone sales, Apple CEO Tim Cook said on July 31 after reporting quarterly revenue that crushed estimates. Apple accounts for half of Hon Hai’s sales.Read More: Apple Smashes Revenue, IPhone Estimates on Pandemic DemandEven as Apple outperformed, Hon Hai’s other customers have fared less well. Hong Kong-listed subsidiary FIH Mobile Ltd. said in its Aug. 7 earnings release that while Huawei Technologies Co.’s new phones have been popular in China, they missed expectations elsewhere following U.S. sanctions. Another key customer Xiaomi Corp. suffered a backlash in the Indian market amid growing tensions between China and the South Asian country. FIH lost $100 million in the first half.Foxconn has been shaking up its traditionally China-focused operations. Hon Hai is among Apple assembly partners that plan to expand operations in India, potentially helping the iPhone maker grow its presence in the country of 1.3 billion and shift some of the U.S. company’s supply chain outside of China as ties between Washington and Beijing fray.Chinese rivals are also posing a growing challenge. Local electronics titan Luxshare Precision Industry Co. is poised to become the first Chinese homegrown iPhone assembler after sealing a deal in July to buy an Apple handset production plant from Wistron Corp. While Hon Hai will keep assembly orders for premium iPhones, Luxshare will eat into the business for mid-to-entry-level Apple handsets, Fubon Securities analyst Arthur Liao wrote in a July 23 note.Foxconn will work on its component business to maintain tech leadership and it also benefits from its long-term relationship with Apple, Liu said in response to several analysts’ questions about Foxconn’s competitive strategy against the rising Chinese supplier.Orders could be further affected after President Donald Trump issued an executive order barring U.S. residents from doing business with Tencent Holdings Ltd.’s WeChat. Annual iPhone shipments could plunge 25%-30% if Apple is forced to remove the app from its app stores worldwide, TF International Securities analyst Kuo Ming-chi warned in an August 9 note.(Updates with Foxconn’s statement from the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • U.S.
    Eat This, Not That!

    The CDC Just Announced This New Face Mask Rule

    The continuing spread of the coronavirus means that the beginning of the new school year has stirred up uncertainty and anxiety in many parents, driven by one big question and few answers. Namely, when the No. 1 strategy for preventing COVID-19 is social distancing, how do you keep children and teachers safe in crowded classrooms, where that's inherently impossible?On Aug. 11, the Centers for Disease Control and Prevention broke its silence on the matter by issuing new guidance for safe school reopenings. Namely, the CDC is recommending the wearing of face masks in class, that masks be added to school supply lists and that certain teachers should consider wearing "clear face coverings" on the job.RELATED: The CDC Just Announced You Shouldn't Wear These Masks"When used consistently and correctly, along with important mitigation strategies, cloth face coverings are important to help slow the spread of COVID-19," the agency said. "Appropriate and consistent use of cloth face coverings is most important when students, teachers, and staff are indoors and when social distancing of at least six feet is difficult to implement or maintain."For example: The CDC officially recommends wearing masks in class when social distancing isn't possible, during passing periods and on the bus or during carpooling. During recess, mealtimes and gym and music classes, the agency says face masks "may be considered." Policy could cause bullying, parental complaintsThe agency also warned that face mask policies could lead to bullying—both of students by other students, and school staff by parents. "Stigma, discrimination, or bullying may arise due to wearing or not wearing a cloth face covering. Schools should have a plan to prevent and address harmful or inappropriate behavior," the agency said. "Not all families will agree with school policies about cloth face coverings. Schools should have a plan to address challenges that may arise and refer parents, caregivers, and guardians to CDC's guidance on cloth face coverings." Some exceptions applyThey agency notes some exceptions: Face masks shouldn't be worn by children younger than 2, anyone who has trouble breathing or anyone who can't remove the mask without assistance.And some teachers are advised to "consider wearing clear face coverings" if their students are young and learning to read, are deaf or hard of hearing, are learning English as a second language or have disabilities. Cloth face masks might impede clear communication with those groups.The mask recommendations are backed by solid scientific data that consistent face mask wearing prevents COVID transmission, as does hand washing, social distancing and avoiding crowds. And to make sure you and your family are safe, don't miss this essential list of 37 Places You're Most Likely to Catch Coronavirus.

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