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Govt. to set up industrial hubs, tap export potential
The Andhra Pradesh government has recently identified one product each from 13 districts under the ‘One District One Product’ (ODOP) programme that aims at developing traditional industrial hubs at the district level. It is also preparing action plans to realise the export potential of the respective products.
The district-wise products are: readymade garments (Anantapur), pen Kalamkari (Chittoor), coir and coir products (East Godavari), red chillies (Guntur), barium and barytes (Kadapa), Kondapalli toys (Krishna), stone carving (Kurnool), wooden cutlery (Nellore), granite polishing (Prakasam), Ponduru cotton (Srikakulam), Etikoppaka toys (Visakhapatnam), mango jelly (Vizianagaram) and crochet lace (West Godavari).
According to official sources, the products have been catalogued and steps are being taken to bridge the gaps in infrastructure, supply chain and skillsets. Emphasis will be laid on exploring the markets overseas, which is the purpose for the integration of the ODOP with the ‘districts as export hubs’ initiative being jointly implemented by the Directorate General of Foreign Trade and the Department for Promotion of Industry and Internal Trade.
The State government has partnered with leading e-commerce companies such as Amazon, Flipkart and Myntra and some of the products are being received well by the customers. Besides, the government is lending financial and logistical support such as common facility centres for scaling up the manufacturing of the selected products.
The products will be ultimately considered for geo-tagging which can give them a distinct advantage over other products in the global markets.
The AP-Economic Development Board and Industries and the other departments concerned are striving to create the ecosystem required to make the products of exportable standard, and sort out issues hampering the efforts being made to upgrade the products into export items that can fetch sizeable revenue for the exchequer.
The Ministry of Food Processing Industries has separately approved one food product each in the 13 districts under the ODOP scheme. The objective of the programme is to achieve the goal of ‘Atma Nirbhar Bharat’.
Source: Read Full Article


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BRENTWOOD, TN–(BUSINESS WIRE)–January 26, 2022–
Tractor Supply Company (NASDAQ: TSCO ), the largest rural lifestyle retailer in the United States, today announced plans to build a new distribution center in Maumelle, Arkansas. The approximately 900,000 square foot distribution center represents an initial investment of approximately $100 million. The facility is expected to create more than 450 new full-time jobs by the end of 2023 and service approximately 250 Tractor Supply stores at full capacity. Construction is currently expected to begin in mid-2022, with completion expected in late 2023.
This press release is multimedia. See the full version here: https://www.businesswire.com/news/home/20220126005593/en/
Tractor Supply Co. Announces New Distribution Center in Maumelle, Arkansas (Photo: Business Wire)
“Tractor Supply is thrilled to begin work on our tenth distribution center, and we look forward to a long and mutually beneficial relationship with the Maumelle community,” said Hal Lawton, President and CEO of Tractor Supply. “In support of our Life Out Here strategy, this new distribution center is an important investment to help serve our growing store base and online sales as we build a strong and relevant business for the future. . We appreciate the support of the many state and local officials who have worked hard to establish a business climate in which everyone can thrive.
“From the beginning of the site search, Tractor Supply and JLL, a leading professional services firm specializing in real estate and investment management, worked closely on the project with the State of Arkansas , Maumelle city officials and Chris Murphy, senior project manager with Entergy Arkansas In 2019, Murphy and Tandee White, also of Entergy Arkansas, partnered with the city to certify the site as a Selected,” resulting in a more efficient due diligence process for Tractor Supply.
“We’ve added more than 26,000 new jobs to the state’s economy since 2015, and the creation of 450 full-time jobs will continue to boost the state’s economy and have a big impact on families across the state. ‘Arkansas,” Arkansas Governor Asa Hutchinson said. “Arkansas has a dedicated and skilled workforce that is ready to support the needs of Tractor Supply Company as they embark on this new expansion. We wish the company well as it grows and expands in Arkansas, and we’re here to help however we can.
“This is great news for Central Arkansas and the City of Maumelle. Tractor Supply’s new distribution center is creating hundreds of new jobs in the area and once again demonstrating the strength of the workforce. work of Arkansas and the attractiveness of our location, infrastructure and quality of life,” said Arkansas Lieutenant Governor Tim Griffin.
“Having grown up on a cattle farm and as the wife of a row crop farmer, I know firsthand the importance of farm supply businesses in our communities. I am thrilled that Tractor Supply has chosen my current hometown of Maumelle for their next distribution center. This announcement will bring hundreds of well-paying jobs to central Arkansas as it drives economic growth for our great state,” said Arkansas Attorney General Leslie Rutledge.
“We are thrilled that Tractor Supply is opening its new distribution center in Maumelle,” said Arkansas Commerce Secretary Mike Preston. “Tractor Supply has a long history of meeting the needs of rural residents, and Maumelle is a great place to take the business forward. This center will give Tractor Supply easy and convenient access to stores throughout the region.
“I am thrilled that Tractor Supply is investing in Maumelle with its new distribution center,” said Maumelle Mayor Caleb Norris. “It is clear that Tractor Supply’s values complement Maumelle’s vision quite well and their presence will be a great addition to our community. The new facility located in our growing industrial park will create 450 new jobs and strengthen our already growing local economy. This huge victory for Maumelle follows years of hard work and demonstrates that Maumelle is a thriving town.
Tractor Supply currently operates 34 stores in the state of Arkansas and 2,003 total stores in 49 states, as of December 25, 2021. With the addition of a distribution center in Navarre, OH scheduled for completion in late 2022, Tractor Supply operates nine distribution centers in various locations, including Frankfort, NY; Casa Grande, AZ.; Franklin, KY.; Hagerstown, MD.; Macon, GA. ; Pendleton, IN. ; Waco, Texas; and Waverly, NE. Upon completion of the Maumelle facility at the end of 2023, Tractor Supply will operate a total of ten distribution centers.
About Tractor Supply Company
Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, is passionate about its unique niche, targeting the needs of recreational farmers, ranchers and anyone who enjoys living the lifestyle. rural, for more than 80 years. year. Tractor Supply offers a wide range of products needed to care for home, earth, pets and animals with an emphasis on product localization, exclusive brands and legendary customer service for the style of Life Out Here. With more than 46,000 team members, the company’s physical store assets, combined with its digital capabilities, offer customers the ability to buy the products they need anytime, anywhere and the way they choose at the everyday low prices they deserve. As of December 25, 2021, the Company operated 2,003 Tractor Supply stores in 49 states, a consumer mobile app and an e-commerce website at www.TractorSupply.com.
Tractor Supply Company also owns and operates Petsense, a small pet specialty supply retailer focused on serving the needs of pet owners, primarily in small to medium sized communities, and offering a variety of products and pet services. As of December 25, 2021, the Company operated 178 Petsense stores in 23 states. For more information about Petsense, visit www.Petsense.com.
Show source version on businesswire.com:https://www.businesswire.com/news/home/20220126005593/en/
Mary Winn Pilkington (615) 440-4212
KEYWORD: ARKANSAS TENNESSEE UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CONSUMER RETAIL OTHER RETAIL AGRICULTURE NATURAL RESOURCES SPECIALTY PETS
SOURCE: Tractor Supply Company
Copyright BusinessWire 2022.
PUBLISHED: 01/26/2022 09:00/DISC: 01/26/2022 09:02

domain: news


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Dressing is expensive in India.
But with the price of hairdresses falling to as low as $2 per square meter, people can easily save more than the cost of a new suit.
In India, there are many places where a man can afford to dress in the traditional fashion of a mohalla, but with some extra help, he can make the most of the available opportunities.
The hairdryer is the middleman who negotiates the prices and makes sure that you get a proper dress, according to the head of the National Hijra Council.
It’s the middle man who negotias the prices, says Abhishek Agarwal, a member of the council.
“The cost of dress can be much less than what is actually being worn by a man.
In fact, the price can be as low (as $2.00 per square metre) and as high as $8.00,” Agarwat said.
But the cost is also quite high.
As a rule, the hairdrader does not accept cash payments or credit cards.
Instead, he accepts credit cards, cash and cheques, but it takes him some time to make sure the payment is made.
“It’s a complicated process,” he said.
“There are a lot of factors, which makes it very difficult for a hairderer to negotiate the price,” said Agarwal.
The hairddresser is also a person who is not an employee.
He is also not obliged to wear the proper attire, said Agadwal.
He can make his own decisions.
“In most parts of India, the dress can range from modest to very extravagant,” said a senior hairdressor who asked not to be identified.
“In Delhi, there is no regulation in place regarding the dress of the harems,” he added.
In the south, there were no rules on dress for men.
The most expensive part of a harement is the suit, which can be more than a hundred dollars, he said, adding that the haredeepos is still a little under-regulated.
“For men, the suit is usually more expensive than for women,” he explained.
In other parts of the country, the most expensive dress is a full-body suit.
The price of a full suit in India is around $200.
Agarwal said he often had to pay close to $5,000 for a suit, but he could often get away with paying less than $3,000.
He added that he does not think it’s worth it for haredes to go with a traditional suit, since the suit will look too expensive.
“I do think it is not a good idea for the havedes to buy a suit in Delhi because of the high cost,” he stressed.
The cost of the suits varies from region to region, and the cost can vary widely.
“But for haremen in the city, there should be no problem at all, especially as the price varies from state to state,” he insisted.
The problem with harements in IndiaThere are many haredepos that are not regulated.
A haredereepos in Delhi was fined a few years ago by the city government for not meeting the dress code.
“After the fine, the people started complaining to me, saying that they were unable to afford the suit,” Agarshe said.
The city government decided to impose a fine on the haaredepos for not following the dress codes.
It also levied an additional fine of around Rs 1 lakh per suit.
This is a significant penalty, considering that the city has a population of around 1.4 billion people.
“There is no enforcement mechanism in place to make a strict enforcement of dress codes,” said Rajan Singh, a senior consultant at the Indian Institute of Management (IIM).
“This is not in the interest of haredecom, which is the primary employer of hareepos, as it has an estimated turnover of around USD 4.5 billion,” he told The Hindu.
The department of personnel and training (DoPT) was also criticised for not enforcing the dress rules.
A spokesman for DoPT, however, said that dress codes are a matter of discretion for each district.
“As a matter, dress codes in the haeredepos are discretionary,” said the spokesman, Sajjad Shukla.
“Dress code norms are generally adopted in the district, and are subject to local requirements.”
The uniform requirement of a male haredeman in Delhi is mandatory to be in a uniform, but the requirement of females is not.
“This does not affect the uniform requirements of any person in the society,” said Sajjot Singh, secretary of the Indian Council of Social Service (ICSS).
“It is only the uniform requirement which


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French business confidence has surged to a three-year high in July.
The national statistical office index, which is based on interviews with executives at about 2,500 companies, climbed to 106 from 104 in June.
The reading is the highest since April 2001, and strengthens the evidence that many of Europe's largest economies are on track for long-term recovery.
Other reports this week have shown that German and Italian business leaders also are more cheery about the future.
According to INSEE, France's statistical office, the responses to its questions "highlight an improvement in industrial economic conditions".
Analysts said a number of factors are contributing to the current feel-good factor.
The country's prime minister Jean-Pierre Raffarin has said that he expects the second-largest economy in the eurozone to grow by 2.3% in 2004.
He also has pledged to lure more companies to France and attacked the country's labour laws that limit a working week to 35-hours.
Recent figures have shown that consumers are heading back to the shops, with spending levels posting their biggest monthly gain for eight years in June.
Corporate balance sheets are getting a boost as a result and earlier on Wednesday carmaker Renault lifted its full-year profit targets.
Economists, however, said that it was still too early to say that France had emerged completely from its recent troubles, with the strength of the euro and the performance of the US economy key concerns.
"We should not get carried away by these figures," said Marc Touati of Natexis Banques Populaires.
"They are good, certainly. But we should be prudent."


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BT (NYSE: BT) on Thursday reported revenue of £4.4 billion ($7.23 billion), down 9 percent year-over-year.
However, it added that pre-tax profits rose 7 percent during the same period and ended at £608 million ($1.1 billion), "despite the economic conditions and regulatory impacts," Ian Livingston, BT's CEO, said in the earnings release.
Two of the bright spots in BT's portfolio continue to be fiber-based broadband and IPTV.
During the quarter, it added 21,000 new customers on its BT Vision IPTV service, ending the quarter with a total of 750,000 customers.
At the same time, BT continued to ramp up its Fiber to the X (FTTX) coverage via its Fiber to the Cabinet (FTTC) and Fiber to the Premises (FTTP) efforts.
"We now expect fibre to be available to two-thirds of UK premises during spring 2014, more than 18 months ahead of our original schedule, and we are recruiting more than 1,000 engineers in 2012 to help deliver this," Livingston said.
To date, BT said that it currently passes over 12 million premises with fiber with over 950,000 of them connected and growing. The telco added 81,000 retail broadband customers in the quarter, representing 47 percent of the broadband market net additions of 174,000. In addition, BT added 160,000 retail fiber broadband customers, bringing its total retail customer base to 875,000.
Throughout the quarter, BT made a number of moves to expand the presence of its fiber network, particularly FTTC.
In September, BT Openreach announced it would extend its FTTC service to an additional 163 telephone exchange areas in 2013. Then, in October, BT said it would hire an additional 250 engineers, particularly "Armed Forces leavers," or those about the leave the military for its fiber broadband workforce.
Looking towards 2013, BT said it expects underlying revenue excluding transit to improve in the second half of the year, but not for the whole year. It also expects to grow adjusted EBITDA and deliver normalized free cash flow broadly level with 2012.
BT was trading at $36.77, up $0.45, or 1.24 percent, on late morning trading on the New York Stock Exchange (NYSE).
- see the earnings release
Special report: Wireline telecom earnings in the third quarter
BT passes 750,000 IPTV subscriber mark
Edge routers help carriers deal with video, mobile, cloud service trends, says Infonetics
BT to hire 250 more engineers to roll out FTTC services
BT Global serves up cloud-based supply chain service
TalkTalk to introduce FTTC-based business broadband service
BT to provide managed services to British American Tobacco


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The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
"These days, the consumer is addicted to convenience ... If it doesn't have a great digital presence or incredible bargains, take a pass," Jim Cramer says.Mad Money with Jim Cramerread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
T-Mobile US and Sprint expect their merger to be approved by a U.S. national security panel as early as next week, after their respective parent companies said they would consider curbing their use of equipment from China's Huawei Technologies, people familiar with the matter told Reuters.
U.S. government officials have been pressuring T-Mobile's German majority owner, Deutsche Telekom, to stop using Huawei equipment, the sources said, over concerns that Huawei is effectively controlled by the Chinese state and its network equipment may contain "back doors" that could enable cyber espionage, something which Huawei denies.
That pressure is part of the national security review of T-Mobile's $26 billion deal to buy U.S. rival Sprint, the sources said.
The Committee on Foreign Investment in the United States (CFIUS) has been conducting a national security review of the Sprint deal, which was announced in April. Negotiations between the two companies and the U.S. government have not been finalized and any deal could still fall through, the sources cautioned.
Sprint's parent, SoftBank Group, plans to replace 4G network equipment from Huawei with hardware from Nokia and Ericsson, Nikkei reported on Thursday, without citing sources.
Deutsche Telekom, Europe's largest telecoms company, on Friday said it was reviewing its vendor plans in Germany and other European markets where it operates, given the debate on the security of Chinese network gear.
Huawei has said the security concerns are unfounded. Tensions have been heightened by the arrest of Huawei's chief financial officer in Canada for possible extradition to the United States.


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A last-ditch effort to permanently allow restaurants and taverns to sell take-out cocktails before lawmakers’ summer recess has fallen short.
A spokeswoman for Senate Majority Leader Kim Ward, R-Westmoreland County, confirmed on Friday that deliberations on the merits of that restaurant relief legislation will be put off until the fall. Lawmakers have also held off on considering a separate proposal to expand the places that can sell similar ready-to-drink cocktails.
Word of this delay came as a big disappointment to advocates for the restaurants and tavern industry. Those businesses were financially crippled by the COVID-19 mitigation measures that caused them to suspend dining-in service for months during the coronavirus outbreak.
Restaurants and bars were permitted to sell takeout cocktails through a waiver that was made possible by Gov. Tom Wolf’s COVID-19 emergency disaster declaration, but lawmakers ended the declaration. The restaurant industry was counting on lawmakers to come up with a legislative remedy.
For restaurants, restoring their ability to sell cocktails-to-go was seen as a way to help in their recovery. But their effort to make that happen hit a bump in the road.
“To hold the industry that suffered the most during the pandemic political hostage is wrong. It’s just wrong,” said Rep. Kurt Masser, R-Northumberland County, who sponsored the legislation to memorialize the cocktails-to-go sales.
Restaurants and taverns were permitted to sell up to a gallon of takeout cocktails as long as the COVID-19 emergency disaster declaration was in place. The General Assembly ended that declaration earlier this month.
Masser’s bill to make the takeout drinks permanent sailed through the House by a vote of 187-14 in May. But the Senate approved an amendment offered by Sen. Mike Regan, R-Cumberland/York counties, that would have allowed virtually all businesses selling alcoholic beverages to sell ready-to-drink cocktails, which are now sold exclusively in state-owned liquor stores.
The governor initially supported the bill to help the restaurant industry, but after the Senate’s revisions, Wolf voted to veto the proposed expansion of liquor privatization. In so doing, he chastised the Senate Republicans for “their prioritization of certain special interests over commonsense solutions supported by the bar and restaurant industry.”
With a veto in the offing, the House voted on Thursday to strip the Senate’s ready-to-drink cocktail language from the bill. The House opted to approve the legislation focused solely on allowing restaurants to sell cocktails to go and send it back to the Senate.
But that’s where the pause bill got hit.
“It was a leadership decision to hold the bill at this point in time,” said Bruce McLanahan, Regan’s chief of staff. “It was disappointing that House decided to strike that because ready to drink cocktails are very similar in nature” to cocktails to go.
Chuck Moran, executive director of the Pennsylvania Licensed Beverage and Tavern Association, said the stalled legislation hurts taverns and licensed restaurants’ recovery. And it robs consumers of the ability to buy up to a gallon of their favorite cocktail from a bar or restaurant, he said.
The Pennsylvania Restaurant and Lodging Association called the postponement of action on this bill another devastating blow to the commonwealth’s restaurant industry. Some restaurants owners had chided the Democratic governor for his COVID-19 restrictions and their impact on the industry. But Friday, Senate Republicans were getting criticism.
“Our industry, yet again, is caught in the middle of political posturing and empty promises, when all we are looking for are simple tools to help propel our recovery,” said Melissa Bova, its vice president of government affairs.
“In terms of my perspective, for 15 months, the Senate Republicans said they stood by restaurants—but today they were the ones that failed us,” Bova added. “It didn’t have to turn out this way. The next three months are the most important for the provisions contained in the bill and would have helped the industry restart and jumpstart into the post-COVID world. That is no longer a possibility.”
Even after restaurants and taverns were allowed to resume indoor dining service, they operated under capacity limits for months under the governor’s measures to curb the spread of the virus. On May 28, restaurants, bars and other businesses were finally allowed to move back to full capacity.
But now, it appears restaurants and bars won’t get a boost from cocktails to go during the summer.
Jan Murphy may be reached at email@example.com. Follow her on Twitter at @JanMurphy.
Pa. lawmakers unveil $40B spending plan with more money for schools, saving most federal relief aid
Pa. election overhaul bill is headed to Gov. Tom Wolf, who said his veto pen is ready


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Ellen Emmerentze Jervell is a staff reporter and photographer The Wall Street Journal's Frankfurt office.
Having previously worked as a a political reporter in Washington D.C. and a feature writer in Norway, she now covers German consumer, retail, tech and media businesses.
Ms. Jervell has a degree in Journalism from Oslo and Akershus University College/American University Washington D.C. and has also studied French Literature, Modern European Art, Classical Guitar, and Fashion Design.
She speaks Norwegian, English, German, French, Swedish, and Danish.
To contact Ms. Jervell, call +49 (0)8 545 131 03 / +49 (0)162 998 1117 or email firstname.lastname@example.org.
Puma’s biggest star, the sprinter Usain Bolt, is parrying rumors he could retire as soon as the end of this summer’s Olympic Games in Brazil. For Mr. Bolt, retiring is a career issue. For Puma, it is a challenge faced by every company that taps athletes for endorsements.
Hans Van Bylen, the new CEO of Germany’s Henkel, a maker of industrial and household staples including detergent and glue, faces the challenge of maintaining the growth pace set by his predecessor without pushing his staff too hard.
Reissued or “heritage” sneakers were the fastest-growing footwear category in the U.S. last year. That’s good news for companies such as Adidas, Nike and Puma, which are working to reprise their classics.
Shares in Axel Springer fell sharply despite it reporting a more than sixfold rise in first-quarter profit, as disappointing results from rival European media players raised concerns about the sector’s health.


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Ocean Breeze residents learn of planned improvements to town
OCEAN BREEZE ? Big changes are coming to Martin County's smallest town.
Residents of Ocean Breeze got a glimpse of the future during a Monday meeting of their local planning agency.
The quickest and most likely changes will be improvements to the neglected, riverfront trailer park.
Four months after buying the 45-acre park, owner Carefree RV Resorts promised Monday to start replacing derelict trailers with new modular homes and adding such amenities as a recreation center, shuffleboard courts and swimming pool.
Carefree officials also promised to slow traffic and install walkways to make the adult community safer for pedestrians.
"The notion is to bring in porches and picket fences that enhance walkability," Carefree planning consultant Marcela Camblor told the 30 or so residents Monday afternoon. "We're exploring the possibility of town commercial uses, whether it's an open-air market or neighborhood retail shops."
As she spoke, Camblor showed a PowerPoint presentation that included photographs of outdoor vendors and a small shrimp market in another Carefree community.
"I'm really excited about what Carefree has planned for this resort," said resident Philomena Mulligan-McIntyre. "I'm proud to be living here and am considering making it permanent."
In the long run, the most significant changes proposed will be west of the clustered mobile homes, on 45 undeveloped acres behind Ocean Breeze Plaza. Three developers hope to bring houses and possibly commercial businesses to the property, said James Morgan of Treasure Coast Commercial Real Estate.
"We're doing due diligence with a potential purchaser," Morgan said. "By (the Dec. 2 local planning agency meeting), we may be under contract with a buyer."
Morgan represents Cathie Teal, Gary Hendry and Marcia Hendry-Coker, owners of the undeveloped property. The trio inherited the land from Ocean Breeze founders Henry and Queena Hoke, and in July sold the trailer-park portion to Carefree.
Morgan also is trying to breathe new life into the partly vacant Ocean Breeze Plaza. He represents the real-estate trust that owns the shopping center and is wooing potential newcomers including a drive-thru restaurant.
New ideas tossed around at Monday's meeting were a novelty for the sleepy town. The last time Ocean Breeze convened a local planning agency was in 2008.
"There wasn't any reason to convene," said Terry O'Neill, the town's planning consultant.
Members of the planning agency, who also serve on the town council, now have meetings scheduled through the end of 2014 as they create a new comprehensive plan to guide the town's future.


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On Tuesday, the RI House of Representatives Committee on Finance examined legislation that would legalize recreational cannabis use for adults, with legislators and the public showing strong support for the bill and contemplating how it could be improved. The proposal in the House differs from the Senate’s recently passed, similar legislation in a number of key areas, including automatic expungement for past cannabis offenses and oversight and impact fees to be paid to municipalities where retail stores open.
“I try to take input from a lot of the stakeholders in the cannabis world,” said sponsoring representative Scott A. Slater (D-Dist. 10, Providence). “Patients, caregivers, cultivators, existing compassion centers and the Rhode Island League of Cities and Towns. I try to take everyone’s input and compromise the best piece of legislation that I can for a legal, adult-use, recreational cannabis program.”
The legislation, if approved in the House and signed into law, would legalize cannabis in the state, allowing possession up to one ounce by individuals over the age of 21. It also allows for home grow comparable to neighboring Massachusetts, with adults being able to grow up to 12 plants, with six active plants at any given time.
Fifteen recreational cannabis licenses would be made available if the legislation is approved, with five of those being designated for equity applicants. Three of the licenses would go to the state’s three existing compassion centers and seven new licenses would be up for grabs, with one of those slots set aside for a co-op business.
“We can work on the number of retail [licenses],” said Slater. “I’m open to adjusting that number. I think it’s important.”
“What I’ve found is that we have people, small businesses, our constituents, investing their money and there was no market for them,” he continued, speaking to the state’s expansion of medical marijuana access in recent years. “They got their licenses, they paid their fees, they did all the right things and I feel that we oversaturated the market and I don’t want to do that again.”
Last week, the RI Senate passed similar legislation, though Slater said his bill bears some significant differences.
The first, said Slater, is that past cannabis-related offenses, both misdemeanors and felonies, would be automatically expunged if the legislation is approved. The Senate bill also offers expungement for past cannabis offenses, though that bill lays out a process to apply for expungement. Further, Slater’s bill would not create a five-member cannabis control commission as in the Senate’s version, but would leave oversight to the state’s Department of Business Regulation.
“My bill leaves the regulation to DBR, which has been doing a good job to authorize and promulgate regulations to effectuate the legislation,” said Slater.


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of the day
That’s how much Tesla stock was up Tuesday, defying the falling values on the broader markets. Analysts point to a note from Citron Research, a longtime short-seller of Tesla shares, announcing that it would become a long-term investor in the Palo Alto firm. The shares closed at $294.14.
MoviePass, the struggling discount movie ticket subscription service, is being spun off by owner Helios and Matheson Analytics, a New York data company, which said the subscription service has become a burden. MoviePass drew in millions with a $10 monthly rate for unlimited films in theaters. But because MoviePass typically pays theaters the full cost of tickets — $15 or more in big cities — a single movie can put the service in the red. It recently limited movie attendance to three times a month. Last week, the company acknowledged that it is being investigated by the New York attorney general on allegations that it misled investors. Helios and Matheson says it does not believe it has misled anyone.
Other number of the day
That is roughly the number of Americans who do not have a bank account, the Federal Deposit Insurance Corp. said Tuesday, adding that the 6.5 percent of U.S. households that are unbanked represents a record low, down from 7 percent in 2015 and from a high of 8.2 percent in 2011. The top reasons for avoiding accounts included not having enough money and not trusting banks.
Daily Briefing is compiled from San Francisco Chronicle staff and news services. Twitter: @techchronicle


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The International Bank of Somalia has launched the first-ever Visa card service in the country to offer Somalis quick and convenient access to money, where just 15% had a bank account and 70% used mobile money services, according to a 2018 World Bank report.
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Brandweek will feature live discussions with marketing pros at ULTA Beauty, Converse, UPS and more. Meet us in Miami Sept. 11–14 to boost your business and elevate your brand.
In the first episode of Champions of Change, Adweek senior TV reporter Mollie Cahillane sits down with Ally Financial CMO Andrea Brimmer.
There are brands that talk the talk, and brands that walk the walk. During Brimmer’s tenure at Ally, the financial company has committed to a 50/50 media spend across men’s and women’s sports, a pledge greatly advanced by a first-of-its-kind deal with Disney earlier this year.
In this episode, we hear how Brimmer’s collegiate soccer career helped drive her desire to create equity in the sports and media landscape, how to break the cycle of underinvesting in women’s sports and how brands and marketers can truly change the game.
Stream the new episode below, listen and subscribe on Apple podcasts or find it on Spotify.


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John L. Manzella has a keen interest in global trade.
During a conversation, he moves from the problems plaguing China’s economy, to the impact of free trade agreements, to which nations show the most promising growth rates.
Manzella wants to put his knowledge to work for the benefit of local companies. Several months ago, the author and chairman of the Upstate New York District Export Council was named president and CEO of World Trade Center Buffalo Niagara.
If the organization’s name is not familiar locally, Manzella is determined to change that. The 56-year-old East Amherst resident is eager to introduce companies to exporting, and to help experienced exporters increase their amount of international trade. Buffalo’s World Trade Center is part of an association with more than 330 such locations in 89 countries. The local organization has about 100 members.
The way Manzella sees the global economy, local companies can’t afford not to export: “The opportunities for companies to expand are tremendous, and we can help them get there.”
Q: What is your goal as leader of this group?
A: We’re elevating, I think, the level of sophistication. Most World Trade Centers offer basic services such as a small manufacturer has an interest in penetrating, say, Brazil. They need a list of distributors, the tariff and non-tariff barriers. And then they get an understanding of the marketplace. And that’s all very, very important. We offer those services as well. However, we now have services we can offer to much larger companies that are already engaged, seasoned companies very familiar with the international marketplace. … What we do is really identify the emerging risks and provide a much better understanding of the international environment.
Q: What’s the argument for U.S. companies to export, instead of sticking to the domestic market?
A: U.S. economic growth is projected to be about 2 percent this year, 2017 and 2018. … And that may be optimistic, No. 1. and No. 2, the vast majority of economic growth is outside of U.S. borders. For example, markets outside the U.S. represent 73 percent of global purchasing power, 87 percent of economic growth and 95 percent of consumers. So U.S. companies, as a result of hyper-competition, have no choice but to expand internationally, or face severe consequences. I really believe this, I’ve always believed this, but now to a greater extent than ever, because U.S. economic growth is modest at best.
Q: What companies are best suited to export?
A: In the five Western New York counties, according to the Department of Labor, there are 1,628 manufacturers. The vast majority of these companies are small- to medium-size enterprises. Statistically, only about 5 percent of small- and medium-size enterprises export. So there is a tremendous opportunity right here in Western New York.
Q: There’s a lot of criticism of NAFTA and free-trade agreements in the presidential campaign. What do you think of free-trade deals?
A: U.S. manufacturers have a large deficit with the world in terms of trade. But U.S. manufacturers have a trade surplus with our free-trade agreement partners. So that tells us that when you level the playing field, American manufacturers can compete with anybody in the world. … What these free-trade agreements do is help us to eliminate tariff and non-tariff barriers in foreign countries, to allow U.S. companies to export to a greater extent.
There’s so much misinformation wrapped around this, it’s incredible. … Very often, what you have is politicians pandering to the fears of their constituents. For example, when a factory closes down the street, you lose, say, 100 jobs, that will make the local news, it may make the national news, it will be in the headlines of the local papers. However, what you don’t hear are the 15 companies in the region that hired three or four employees each as a result of them expanding internationally.
Q: What about U.S. manufacturing jobs going overseas?
A: A lot of manufacturing is coming back to the U.S. as a result of “backshoring.” For a whole variety of reasons, most importantly rising Chinese wages, more and more U.S. companies are redoing the math. And they’re finding that if their major market is North America, many are bringing production back to the U.S. … because of quality issues. And in China, when you put orders in, for example, they’ve got to be larger orders, there’s longer lead times, more capital invested. … If their major markets are China and Asia, many of these U.S. companies are still better off producing in Asia.
Q: What’s your view of China’s economy?
A: China’s going through a transition on a number of levels. It’s shifting from a state-managed economic system to a market-oriented system. It’s a very difficult shift, because they have 100,000 state-owned enterprises with assets of about $13 trillion, and they underperform, they’re less productive, they use capital less efficiently, they put a drag on the economy. … You’ve got state-owned banks which lend money to state-owned construction companies to build ghost cities, so the money is very inefficiently spent. The objective is to create jobs.
So when you have a state-managed system, you can dictate, in many ways, policy. You can create jobs by hiring workers, for example, but the money is used very inefficiently. China has a number of ghost cities. They built entire infrastructures – cities, roads – and people don’t live in those cities. They may come in the future, but that’s an example of a state-managed system gone awry.
Q: How can U.S. manufacturers stay competitive against other countries?
A: The bottom line is this: companies that focus on (intellectual property)-rich products that require skilled labor will continue to do well. Those companies in the U.S. that produce products that are lacking in terms of intellectual property or basic products will continue to be knocked off by developing countries.


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Tag: The Korea Times
A report from the Korea Times relays that Apple is excluding Samsung from its plans to develop its next-gen A7 processor. While Apple and Samsung compete fiercely in the smartphone market, the two companies also happen to be very important business partners. Apple, of course, currently relies on...
A rumor from The Korea Times suggests Apple may be close to signing a deal with Samsung and LG for a high-resolution tablet display. The new display will include a resolution of 2048 x 1536 pixels, 4:3 aspect ratio and a retina-like pixel density of 280 PPI. This isn't the first time this rum...
Software Updatesmore updates
- Apple Remote Desktop updated with Yosemite support
- OS X Yosemite 10.10.2, iOS 8.1.3 updates now available
- Sports Illustrated 120 SPORTS channel comes to Apple TV
- Logic Pro X update brings AirDrop support, new effects, tools, and more
- Parallels Access 2.5 released, adds file manager, computer-to-computer remote access
- The Google Translate iOS app is about to get a lot smarter


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When the first response taken by major banks such as JPMorgan, in the aftermath of the massive 40 million credit and debit card hack of the third largest US retailer Target, was to lower ATM withdrawal and purchase limits, it became clear that there was more here than simply a well-organized credit card number scrape. And indeed, as Reuters reports, the hackers who compromised up to 40 million credit cards and debit cards also managed to steal encrypted personal identification numbers (PINs) according to a senior payments executive familiar with the situation. And since from there to emptying bank accounts and saved deposits is only a keystroke away, with no credit card processor intermediate to offload liability to, banks had no choice but to immediately limit debit card access to as much 10% of their clients, in JPM’s case, in an unprecedented first, which just may have shown the way of how to limit a cash withdrawal panic if and when the need to do so arises.
Target has not said how its systems were compromised, though it described the operation as “sophisticated.” The U.S. Secret Service and the Justice Department are investigating. Officials with both agencies have declined comment on the investigations.
The attack could end up costing hundreds of millions of dollars, but it is unclear so far who will bear the expense.
Daniel Clemens, CEO of Packet Ninjas, a cyber security consulting firm, said banks were prudent to lower debit card limits because they will not know for sure if Target’s PIN encryption was infallible until the investigation is completed.
As an example of potential vulnerabilities in PIN encryption, Clemens said he once worked for a retailer who hired his firm to hack into its network to find security vulnerabilities. He was able to access the closely guarded digital “key” used to unscramble encrypted PINs, which he said surprised his client, who thought the data was secure.
In other cases, hackers can get PINs by using a tool known as a “RAM scraper,” which captures the PINs while they are temporarily stored in memory, Clemens said.
The attack on Target began on November 27, the day before the Thanksgiving holiday and continued until December 15. Banks that issue debit and credit cards learned about the breach on December 18, and Target publicly disclosed the loss of personal account data on December 19.
And since in black hat hacker circles what is known by one is known by all, it is only a matter of time before America’s other largest retailers, are hit by the same PIN scraping technique, which in turn “forces” the banks to once again lower ATM withdrawal limits on a few million other debit card users. Ironically, perhaps instead of focusing on where the poor and middle classes shop, it may be time for the black hat hacker community to take a look at companies like Netjets and Ferrari where the PIN “scraping” wouldn’t drain the fund of the median income American but focus on those who have directly benefited from Bernanke’s ongoing asset inflation monetary experiment.
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/Nmb62rR7kpE/story01.htm Tyler Durden


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Mr. Speaker, Canadian consumers are our first priority when it comes to food safety.
The CFIA has notified the Minister of Agriculture that it will be reissuing the licence to this facility. Our government will continue to provide the CFIA with the resources it needs to ensure that safe food comes out of that plant.
The safe food for Canadians act is an important tool to strengthen our food safety system. I encourage this member and his colleagues to vote in favour of the bill when it comes back to the House.


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Marvell upgraded to Buy from Hold at Stifel
Stifel analyst Kevin Cassidy upgraded Marvell Technology Group to Buy with an unchanged price target of $21. Marvell is now entering its second phase of corporate transformation which began roughly two years ago, Cassidy tells investors in a research note. He believes new management has made the right strategic moves by shedding the money losing Mobile & Wireless products to focus on profitability over growth. With a few product adjustments following the Cavium acquisition, Marvell is well positioned to increase revenue and profits in the high growth data center networking market, Cassidy contends. Further, he believes the recent broad selloff of semiconductor shares has created an attractive entry point.


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Overrating Foreign Investment
By Pulapre Balakrishnan
With the intention of signalling strong commitment to reforms, government have announced a hike in the price of diesel and liberalisation of foreign direct investment (FDI) in multi-brand retail, justifying the measures as growth-enhancing and inflation-dampening. They have been termed bold by India’s corporate sector and burdensome by an Opposition united across the ideological spectrum. The PM in his speech to the nation on September 20 stated that the government’s move is motivated by concern for the ordinary Indian. Given the conflicting responses there is room for analysis it seems.
The interesting thing about public-sector pricing, in this case of diesel, is that keeping prices steady as input costs rise would be as political in content as raising them is. As stated in an editorial in this newspaper some days ago the government need not have waited as long to raise the price. It would seem that the government had no intention of doing so while parliament was in session. Be this as it may, there is a strong case for eliminating the subsidy on all fossil fuels and transferring the saving thus made into public infrastructure. Apart from the symbolism of soaking the rich, they who drive the SUVs, the building and maintenance of public infrastructure are more likely to help the poor – presumably the PM’s aam aadmi – than the current regime of subsidies. The creation of infrastructure employs the poor directly as it is they who build it. Secondly the provision of the producer services afforded by the infrastructure sustains private economic activity which generates employment. The idea that the poor would benefit more from public investment than the present subsidy regime, described by some as welfare state for the rich, has not really been sufficiently debated. For India’s political class subsidies win hands down as they are now cast as benefactors while being relieved of the task of managing the process of building and maintaining infrastructure, arguably a non-negotiable aspect of governance in a democracy. So, even a small hike in the price of diesel can be the beginning of a realignment of government expenditure from consumption subsidies to investment in infrastructure, and the poor may be expected to gain from this. Finally, it is not obvious that the gains from macro-economic stability may legitimately be ignored when evaluating the prospects for the poor. Macroeconomic instability spares nobody, and India’s current account deficit by now exceeds the figure for 1991. Fuel subsidies have enormous consequences for the balance of payments, as 80 percent of our oil consumption is imported.
When it comes to FDI in retail the beneficial impact on the aam aadmi is altogether less obvious than in the case of lowering the diesel subsidy. What FDI in this sector may be expected to do is to take the shopping experience in India to the next level. Surely, cavernous supermarkets make it easier to shop for those with deeper pockets. Precisely because the supplier caters to this cohort the quality of the groceries may be expected to rise. In fact, we have already seen this happening, even without FDI, with organised retail spreading in India. But those on a daily wage and no ready cash are unlikely to patronise these suburban behemoths. They may be expected to prop-up the kirana with its infinite capacity for apportioning their stuff to suit the customer’s purse and willingness to extend her credit. So the opposition may well be crying wolf over the imminent disappearance of the corner store. But the government’s claim of a ‘win-win’ with higher prices for farmers and lower prices for customers with the advent of FDI may be somewhat exaggerated. For precisely because the large retailer must cut through the supply chain to deliver this outcome, there would be some displacement in the middle. The government counters this reasoning by pointing to investment at the backend, in cold storage and such. This is possible of course, but we would want to wait and see the full combined effect once all effects have worked their way through the economy. Some part of the corner-store complex will survive purely because there are too many poor people in this country yet, generating a substantial demand for low quality food with lower mark-ups. But the position that a policy is only as good as its direct impact on employment is surely untenable. To reject outright a move on the grounds that it does not directly put the poor to work would be folly. Productivity growth is often first employment displacing but it also lowers prices and raises demand. The point is that it not only raises demand for the good in question but for all other goods in the economy, as real income is higher following the rise in productivity. Overall employment in the economy may be expected to expand.
It is when it comes to inflation though that the present round of announcements by the government has little or nothing to offer. The suggestion, first made when the proposal was mooted some months ago, that FDI in retail would dampen inflation is difficult to fathom. The source of the current inflation is a veritable excess demand for vegetables and a manufactured excess demand for the principal foodgrains. The latter stems from the government’s procurement and storage policy. By mopping-up almost the entire marketed surplus of grain as it comes into the wholesale markets and then allowing it to rot by unaccountable stock management the Government of India abets hunger in the name of supporting the farmer. The entire political class is united in not calling attention to this travesty of accountable governance.
The argument made by the RBI that it is the fiscal deficit that is the source of the inflation may deflect attention from its own incapacity in the present context, but does not do much to enhance our understanding of policy options. The central government’s fiscal deficit is lower today than it was when the present bout of inflation commenced about two years ago. Thus the hike in the price of diesel would have to be justified on counts other than its presumed impact on inflation via a lower fiscal deficit. The current inflation is rooted less in macroeconomic imbalances than in structural ones emanating, as explained above, in the market for food. As a corollary, macroeconomic intervention via fiscal or monetary policy can have only a limited impact. As an aside, they can only compress output, a sequence of events playing out in the guise of a slowing manufacturing sector. It is by now clear that only microeconomic policy intervention can make a difference to the food situation and thus inflation. In India the cost of producing food is high in relation to per capita income. FDI in retail can make no difference here. It can at best only deliver more efficiently what has been produced at cost. The government can hardly be accused of not knowing of the importance of micro interventions. For instance it has been observed that vast sums of money spent by the government on irrigation were not showing up as increase in irrigated area. This was at least five years ago. And now there are reports of an irrigation scam involving rupees 20, 000 crores in Maharashtra, a state for all purposes governed by the UPA. It is quite extraordinary that the current food-price led inflation has been in existence for over two years now and the government has not been able to come up with a single measure addressing it, even if its impact may be felt only in the medium term. When it is not actually stoking inflation by raising the procurement price of grain it comes up with window dressing in the form of FDI in retail.
It would be appropriate to conclude by asking whether the government makes too much of foreign investment, desirable as it is. With respect to its heroic recent announcement, there is the issue of the suppliers’ response. Walmart’s Asia President Scott Price is reported to have already stated “we are not in any rush” to enter India. But there is a query more general than the likely response of foreign investors to the overtures being made presently. In the two decades since 1991 India has not attracted much FDI, giving us an idea of what may be expected in a future with or without FDI in retail. Some perspective is to be had from looking at the Chinese experience. An idea of the relative roles of FDI and domestic investment in generating growth in that country is got by noting that FDI as a share on the domestic product had peaked in 1993. It was only 6 percent even then, and has declined progressively since to a figure less than half that. This suggests that China’s double-digit growth cannot be explained by alluding to the FDI it attracts. Is our own government overrating the power of foreign investment to transform India’s economy?


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Mumbai: The 60-year old Hinduja hospital here has received the HACCP (Hazard Analysis Critical Control Point) certification from a Netherland-based agency.
The HACCP methodology is a structured and preventive approach to food safety that optimises efforts to provide the consumer with safe food, a release said.
The hospital put to test its food services division for a HACCP certification, usually done by the hotel industry--and became the first hospital in India to have got certified by DNV, Netherlands, it said.
Most hospitals as a rule do not allow patients to consume food brought from outside as it could be contaminated or improperly cooked, which can lead to other complications.
Hinduja Hospital’s in-house food service department already has strict protocols that are followed to maintain food safety and hygiene. Every day, the hospital prepares about 3,500 packs of food.
Hinduja Hospital CEO Pramod Lele said "the food and food service department is equally important in speedy recovery of patients. This certification is usually sought after by hotel industry but we decided to go for it."
The certification process involved audits conducted by, DNV Business Assurance Management, Netherlands. It ensures that the systems for managing food safety are in place and adequate prerequisite programmes are established for ensuring safe food, the release said.


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Here we go again.
When the words “bitcoin ransom” and “malware attack” show up in headlines together, is anyone really surprised anymore? How about the words “FTC charges” and “bitcoin mining operation?”
Yep, here we go again.
So, let’s begin with the first one. If you googled “bitcoin” at all yesterday (Feb. 18), it was likely the first thing showing up in the search. The nuts and bolts of the story begin with Los Angeles, a hospital and $17,000 worth of bitcoin that was paid out to hackers who took down a computer system.
Which, of course, included vital medical records. So, if this sounds like it came straight from a Quentin Tarantino film, that theory wouldn’t be too far of a stretch. But nope, just another day in the news cycle, where hacking and bitcoin get tangled into one pretty big story.
So, how much was $17,000 worth of bitcoin? About 40 bitcoins, according to reports from the Hollywood Presbyterian Medical Center. The FBI is still investigating the incident, but the hospital explained it had no choice but to pay out the hackers.
What happened, as is the case in most of these hacks, is a group of hackers encrypted a computer network’s data, holding it hostage from doing anything. Once hacked, the hospital was sent a digital decryption key, which could then be used to unlock the data — but for a hefty price.
“The quickest and most efficient way to restore our systems and administrative functions was to pay the ransom and obtain the decryption key,” Allen Stefanek, CEO of the hospital, said in a statement. “In the best interest of restoring normal operations, we did this.”
What’s interesting about this case is that the hospital may have acted before law enforcement even stepped in. Sources cited in the Los Angeles Times indicated that the hospital took this into its own hands before alerting the proper authorities to advise on what to do.
But, apparently, in today’s breach-ridden world, that seems to be as common as paying a bill. At least, according to Adam Kujawa, head of malware intelligence for Malwarebytes, a California-based firm, who spoke with Fox News about the incident.
“Unfortunately, a lot of companies don’t tell anybody if they had fallen victim to ransomware and especially if they have paid the criminals,” Kujawa said, “but I know from the experiences I hear about from various industry professionals that it’s a pretty common practice to just hand over the cash.”
Or, in this case, hand over the bitcoin.
But the fun doesn’t stop there.
Bitcoin Mining Operator Settles With FTC
Bitcoin got its name tangled up with the FTC. Well, bitcoin miners, to be fair. But, [insert shocked face], this case has to do with deceiving thousands of consumers.
According to the FTC’s allegations, the bitcoin mining operation Butterfly Labs misled consumers about the “availability, profitability and newness of machines,” which would then be used to mine bitcoin. Apparently, this company made it sound like mining for bitcoin was like shooting fish in a barrel.
The FTC’s claims go on to say that the company “unfairly kept consumers’ upfront payments, despite failing to deliver the machines as promised.”
Talk about a snake oil salesman.
“Even in the fast-moving world of virtual currencies, like bitcoin, companies can’t deceive people about their products,” said Jessica Rich, director of the FTC’s Bureau of Consumer Protection. “These settlements will prevent the defendants from misleading consumers.”
The FTC’s complaint against the bitcoin mining company claims that the company charged consumers, only to deliver computers that were “practically useless or, in many cases, did not provide the computers at all.” The machines delivered were pre-used by the company, and, in some cases, consumers paid for machines without receiving any.
This week, the FTC announced a settlement with Butterfly Labs that entails prohibiting it from misrepresenting consumers about if a specific service can be used to generate bitcoin/virtual currency. The company can also no longer tell consumers when they will receive such a product or service and must inform them of the age of the product.
The settlement also had a monetary value associated with it (more than $38 million). The GM of the company was also named in the case and fined more than $135,000 but will have that fee waived once all cash obtained using bitcoin from the company’s machines are surrendered. But the FTC noted that that aspect was “suspended due to the defendants’ inability to pay.”
But all was not lost in the bitcoin world, this week. We swear.
Blythe Masters Blazes The Blockchain Trail
Blythe Masters, the ex-JPMorgan investment banker, is forging new partnerships for her blockchain startup, Digital Asset Holdings.
Just this week, it was announced that her company has new deals with new financial clients, including Accenture, PricewaterhouseCoopers and Broadridge, to bring blockchain tech to its consulting clients. The offerings are being pitched to the clients for the blockchain’s ability to conduct business faster and cheaper.
Accenture also announced its blockchain practice, which will be used to educate clients about how they can utilize the technology that powers bitcoin in their own financial deals. This marks another big step for blockchain and Digital Asset Holdings, which, not long ago, was struggling to pick up financing.
But now everyone wants a piece. Richard Lumb, CEO at Accenture’s financial services side, told Financial Times that investment banks are spending around $100 billion on technology, which means there’s plenty of room to test how the blockchain could be used to cut those costs down.
“When you look at an industry that is down on its knees in terms of profitability, the blockchain offers some really valuable answers,” he said. “There is a market forming around the blockchain, and we don’t want to be left behind in that race.”
Recently, Digital Asset Holdings announced it had raised $60 million from 15 major financial institutions, and now, the momentum appears to be continuing.
“[Blockchain] improves post-trade processing efficiency for banks and other financial institutions,” Masters said in an interview with FT. “Instead of building countless duplicative records, one master prime record can eliminate the need for reconciliation, which is a very costly process for financial institutions, while improving compliance, security and privacy.”
At least, there’s one bright spot in the world of bitcoin news.


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SINGAPORE: The Malaysian economy is about to feel the full impact of the Covid-19 pandemic, according to the country’s top statistician.
After posting its slowest growth since the global financial crisis, the economy is set to slip into a recession in the next four to six months, according to a report by Mohd Uzir Mahidin, the chief statistician.
With its borders shut to foreigners and a standstill in commerce around the world, industries including tourism and aviation have been crippled, adding uncertainty to a rebound in trade in the first quarter.
The expected decline comes as the country’s gross domestic product grew marginally at 0.7% in the first three months of the year, the lowest since the third quarter of 2009, he said.
That growth rate is significantly less than the 3.9% to 4.2% expansion expected, with losses of RM22.8 billion (US$5.3 billion) in economic output because of a countrywide lockdown, he said.
Countries across the world began the “Great Lockdown” in March.
“From the early indications in April and May 2020, the economic environment is foreseen to be unfavourable for Malaysian businesses,” according to the report, entitled the Malaysian Economic Statistics Review.
With the global lockdown, “this unprecedented situation has caused a sharp contraction to the economy like never before.”
Fake or not? Check our quick fake news buster here.


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Every week after coming home from grocery shopping, I throw away my mask, gloves, wash my hands twice, wipe down everything from outside and place the food on the dining table. However, such efforts to remain safe and sanitized come at a cost — the new sanitary habits we are developing in reaction to the COVID-19 pandemic are unexpectedly wasteful, adding an additional burden to the environment.
Since March 2020, global plastic consumption has increased drastically. At one point last year, the United States was thought to be generating a year’s worth of medical waste in just six months. Much of this waste is caused by both the production process of Personal Protective Equipment, or PPE, and other single-use products and the waste pollution after use.
To promote an eco-friendly lifestyle during the pandemic, there are several daily practices we must adopt to combat and reduce the ever-increasing carbon footprint of COVID-19 while staying protected from the virus.
Environmental concerns have been raised with the usage of PPE. Single-use disposable masks — masks made of polypropylene plastic — are a popular PPE option when going outside. Although they are known to be an effective and accessible option, as they cost less to manufacture, the environmental cost is huge. According to a U.K. study published in Environmental Science and Technology journal, nearly 129 billion masks and 65 billion gloves are being used every month globally as a result of the COVID-19 pandemic. These single-use masks are made of polypropylene, polyethylene and vinyl, all of which are various types of plastic that take hundreds of years to degrade. Since they are considered to be biohazardous waste and have to be dealt with special care, including burning, these masks aren’t considered recyclable. Worse, the combustion of waste emits tons of carbon dioxide, causing an increase in air pollution thus aggravating the climate crisis. Continuing along this dangerous trajectory will inevitably harm wildlife, marine life and others in crucial ecosystems.
Replacing a single-use mask with a reusable cloth mask is a necessary solution in terms of reducing environmental damage. In fact, the Centers for Disease Control and Prevention suggests only reserving the surgical or single-use ones for medical workers. A peer-reviewed study at the Wake Forest Institute for Regenerative Medicine published in April also shows that the best homemade masks actually achieved 79% filtration while surgical masks ranged between 62% to 65%.
Because of the increase in sanitation demand from the COVID-19 pandemic, water usage in the United States has also increased. A research study from TechRepublic shows that the average U.S. home used approximately 729 additional gallons of water in April 2020 than it did in February 2020.
In California, many people are ordering either takeout or delivery, in line with the public health policy of limiting dine-in options for restaurants. A recent study shows that while take-out boxes, plastic bags and utensils can be convenient and sanitized, they are simultaneously bad for the environment. The microplastics which make up the containers our meals arrive in can take a shocking 450 years to degrade. Supporting businesses that use compostable boxes is a good option to consider because the materials these boxes are made of — usually corn, bamboo or sugarcane — are all biodegradable.
Our shopping habits also changed due to the pandemic. Now, we are less incentivized to go to the grocery stores so as to reduce human interaction and the spread of COVID-19. Traditionally, waste from overstocked food beyond our consumption was a major issue; however, after COVID-19, our food waste was drastically increased despite food shortages in stores. Reducing food waste is crucial to stay eco-friendly during the pandemic, so conscious consumption is essential to mitigating the damages caused by food waste.
COVID-19 has increasingly burdened the environment, and we must prioritize our commitments to combating climate change even under these pressing circumstances. So far, with all the government policies incentivizing the reduction of high carbon footprint plastic products, we were able to slightly alleviate the burden. But we need to do better, especially when not only our health but our planet’s health is at stake.
Eileen Zhang is an Environmental Health Sciences student at UC Berkeley


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Xometry today announced the acquisition of Thomas (Thomasnet.com), a leader in product sourcing, supplier selection, and digital marketing solutions.
Displaying 1-10 of 1031 results for
Machine operators can replace time-consuming manual setups and gauging with the precision of digital metrology through a conversational CNC interface.
Justin Ryan of Rady Children’s Hospital, Cambre Kelly of Restor3d and Sean McEligot of the Mayo Clinic discuss the use of additive manufacturing for end-use-device development.
In a world where machine shops are struggling to stay open and maintain their business and in a day when “going into dad’s business” is not what it once was, Platinum Tooling is an exception to the rule.
The experience an Italian electronics manufacturer had with emerging tools provides a glimpse of a better world.
Manufacturing increased employment by 31,000 jobs last month, split almost evenly between non-durable and durable goods industries.
September 2021 U.S. cutting tool consumption totaled $163.1 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.
A conversation with Faith Oehlerking, R&D engineer for additive Manufacturing at H.C. Starck Solutions.
Desktop Metal and Uniformity Labs unveiled a partnership to qualify and deliver ultra-low porosity binder jetting powders.
Bosch said it is moving forward with volume production of silicon carbide chips.


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If you ever get the chance to check out an automaker's shareholder meeting, you might find choice tidbits on future products tucked away in a CEO's statements. There's one such juicy tidbit in BMW's latest shareholder meeting, and it's all about the future of Bavarian transportation.
"[The BMW i8 Roadster] will be followed in 2021 by the BMW i Next, our new innovation driver, with autonomous driving, digital connectivity, intelligent lightweight design, a totally new interior and ultimately bringing the next generation of electro-mobility to the road," CEO Harald Krueger said during the meeting.
While details don't exist beyond Krueger's statements, it can be reasonably inferred that some of the i Next's ideas will come from the Vision Next 100 concept shown off earlier this year. This concept lays the groundwork for the future of BMW's design and engineering efforts, with a bit of flash thrown in for fun (like the wheels that hide behind moving body panels).
BMW is continuing its push into electrification with two new models over the next couple years (that we know of, at least). This year, BMW will debut a revised i3 with additional range, followed by a drop-top version of the i8 hybrid sports car in 2018. Research from these efforts have gone on to help current road cars -- for example, the new 7 Series sedan sports a carbon-fiber structure similar to that in the i3 and i8.


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At long last, the day has come where we have found out the official release date for Death Stranding. Everyone will be able to experience the strange and wondrous world that Kojima has created on November 8, 2019. Yes it’s coming out this year!
After a long 72 hours of nonstop teasing, Kojima and company finally revealed a rather lengthy trailer which actually showed off some gameplay. Norman Reedus takes center stage alongside Mads Mikkelson and Troy Baker, and a whos who of an ensemble cast of actors and voice talent in a world where dark monsters have taken over while some humans are struggling to stay alive. The mechanics and gameplay aspects are all reminiscent of Kojimas previous game series, Metal Gear, and on top of that, the system uses the Fox Engine, the same one that was used during Metal Gear Solid V: The Phantom Pains development.
In the trailer, Kojimas ability to mess with our minds is on full display here as it showcases the characters coping with the world around them and what they have to do to try and win it back. Meanwhile, it looks like their will also be an enemy faction to deal with, specifically Troy Baker’s character as he has one of the main cast members captured before he sickeningly licks them on the face.
This has been a long time coming, and what a journy it has been. After three long years of what, who, and where questions, we can finally check this one off the list. The game is coming out this year, and it will be just in time for the holidays. The game is now available for pre-order, which includes a standard and special edition as well as some incentives to pre-order ahead of time. As we said earlier, Death Stranding will officially launch on November 8, 2019 for the PlayStation 4.
You can check out the gameplay trailer here:


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Trump signs executive orders to lower costs of prescription drugs
Helping you make ends meet, the president signed four executive orders Friday aimed at cutting the costs of prescription drugs.
Especially during the pandemic, this can help keep families afloat and reduce worry about the burden of their life-saving medication.
A student we spoke to, who has diabetes, says he spends thousands of dollars a year for prescriptions that keep him alive.
Bonita Pharmacy told us, especially with the pandemic, it’s been a major struggle for some people to afford their medicine.
There is hope President Donald Trump’s new orders will help those who depend on medication daily.
“I can do anything and accomplish anything in this world,” Ryan Price said. “At the same time, money is a barrier for me because insulin is too much.”
But it’s the cost Price must pay to survive. He was diagnosed with Type 1 diabetes when he was 5 years old.
“Our pancreases don’t work, so we physically need insulin,” Price said. “You see this little bottle right here? This lasts me anywhere from a week and a half to two weeks, and right now it costs me $289.”
But there is hope for lower medicine costs in sight. Part of Trump’s new executive orders allow big discounts on EpiPens and insulin to those such as Price, who is trying to pay for college at FGCU.
“We’re taking a stab at the pharmaceutical companies, which Trump has said in his campaign he will do, and he’s keeping his promise,” Price said.
Others such as Aidan Weir from Naples are skeptical.
“He can sign whatever he wants to sign, but they’re going to sue him,” Weir said. “It’s something that keeps the lights on for these companies.”
Three of the executive orders go into effect immediately. The fourth depends on a meeting between the president and pharmaceutical executives.
Pharmacists say the orders could face challenges with the FDA but are ultimately positive.
“It will helpful to everyone,” said Daivik Shah of Bonita Pharmacy.
The other executive orders would allow imports from other countries that sell drugs and use lower international prices for some using Medicare.
“Especially the elderly patients who are on Medicare, and they have a high deductible,” Shah said.


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Of all the many strains this election season has put on our nation’s already-fragile relationships—between liberal and conservative, between liberal and really loudly liberal Facebook friend, between people who think, hey, maybe don’t call for the assassination of a presidential candidate even as a joke and Trump supporters—perhaps none has been so incendiary as the division along our Southern border. Damning rhetoric aimed at Mexico and its many immigrants, documented and otherwise, has reached a level of discourse unheard anywhere outside of my late grandfather’s face, beginning with Trump’s comments about criminals and rapists that, holy shit, were made over a year ago. How the hell is this man still in the race? What is happening? What the hell is happening?
Anyway, it’s fine. Because as Trump himself demonstrated, there is no racist generalization and the widening chasm it creates within our fractious society that cannot be bridged with food. And in the tradition of delicious Mexican-made taco bowls, we can soon turn to another bloated imperialist who panders to our weakest selves, and seek a new era of foreign diplomacy in the form of Burger King’s Whopperito.
As reported by the Chicago Tribune, the Whopperito takes the true-blue ingredients of the Whopper—beef, tomatoes, onions, lettuce, pickles—then introduces them to Mexican tradition by cramming these greasy prides of America into a flour tortilla, where they can soak up some cool Latin culture and party their fucking asses off. “A queso sauce replaces the mayonnaise from the hamburger,” the Tribune notes, in case you were concerned this wouldn’t be done respectfully.
While honoring Mexico’s rich culinary heritage is certainly one reason behind making their burger a burrito now, Burger King’s North American president Alex Macedo admits there are some other factors at play. The popularity of Tex-Mex, for one, which Macedo notes is “one of the fastest-growing categories—consumers like the freshness of it, they like the mix of flavors.” And what could be fresher or more complex in flavor than a fast-food cheeseburger wrapped in a tortilla, creating a piquant, revelatory, nigh-Proustian mélange of pickle and disappointment?
And yes, okay, there are other, possibly more exploitative reasons. The Tribune also points out that Chipotle has been struggling after so many outbreaks of E. coli and norovirus left customers weakened, and therefore more susceptible to being lured in with vague burrito shapes. Like a sick, enfeebled animal who just ate at Chipotle, the chain has found itself swarmed by corporate predators of late who are all trying to steal away some of its massive consumer share in the Tex-Mex marketplace—from Taco Bell’s upscale taco gastropub concept to McDonald’s experiments with Snack Wraps, Egg-Normous Burritos, and trying to get people to kill themselves after seeing its new Happy Meal mascot. And Burger King making a Whopperito is certainly fair considering Chipotle recently announced its own Tasty Made burger spinoff, and it could have just burned the restaurant down. Making a burrito out of spite is far more sporting.
But Macedo claims that the Whopperito isn’t actually a response to any other competitors. Rather, it’s a result of successful market testing in Tex-Mex hotbeds like Pennsylvania and Ohio, whose residents naturally sparked to this zesty burger wad with a taste that Macedo tantalizingly describes as “not too spicy” and “It’s funky, but it’s not polarizing.” Good. Lord knows we’ve sown enough discord this year. Hopefully we can all find a new, more lasting symbol of modern American unity in the sight of this overworked and under-appreciated Mexican shell, straining to hold a bunch of fat cheeseburger detritus together.
You can pick up the Whopperito for $2.99 beginning next Monday, August 15—but only for the next three months or so. Come November, Americans will have to find some other way to show how they really feel about Mexico.


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Like everywhere else around the globe, adoption of mobile devices is growing at a rapid pace in Africa - now home to around 644 million mobile phone subscribers. According to a post on AllAfrica, mobile technology can play a vital role in African businesses, especially those in the mining industry.
According to Brendan Martin, CEO of Silverkeys Consulting, mobile devices can be extremely beneficial for mine workers when those devices are linked to the mine's enterprise resource planning (ERP) systems, the article stated. This will expedite operations, increase communications and save businesses money.
Earlier this month, one mining company, Newmont Mining, discussed how its ERP system is expected to improve operations. In the third quarter of 2012, the company said it was able to eliminate redundancies and inefficiencies in operations, which translated to an increase in financial returns, said CEO and Executive Director Richard O'Brien. The company recently consolidated its ERP systems into one platform, which will allow for information to be shared more easily across the enterprise and spark even more efficient operations.
By connecting mobile devices to an ERP system, mine operators and other industrial workers can have easy access to information ranging from internal daily production targets to metals prices, the AllAfrica article pointed out. By integrating an ERP system such as Oracle or SAP with a mobile data collection system from RFgen, it's possible to further amplify the benefits of a more mobile workforce.


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Puppy farmer convicted.
Puppy farm “conduit” Lisa Canning who lied about the ages and medical histories of dogs she sold convicted of fraud and ordered to pay £50,000. Callous puppy dealer shows why we urgently need Lucy’s Law to ban this horrible trade
Yesterday was the final day for submissions to the Government’s consultation on the sale of puppies by pet shops and other third-party dealers.
Like numerous animal lovers nationwide I’m fighting for Lucy’s Law, which is calling for these sales to be banned because they enrich cruel puppy farmers – and crooks like Lisa Canning.
Her prosecution last week was a timely reminder why this trade must be stopped.
Cardiff crown court heard how she was “a front for puppy farms and a conduit through which those maligned businesses operate”.
Read the full story here…


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The companies also said Friday that they will be selling their wireless licenses — which they haven’t been using — to Verizon Wireless for $3.6 billion.
Cable companies have long had ambitions to get into wireless, and some of them have linked up with Sprint Nextel Corp. and Clearwire Corp. to offer service. Lately, there has been speculation that the cable companies would invest in ailing No. 3 and 4 carriers Sprint or T-Mobile USA to gain access to the wireless market.
The link-up with No. 1 carrier Verizon Wireless and the sale of the spectrum appears to preclude that kind of deal.
More breaking news
- US stocks plunge after bleak Chinese manufacturing report
- Ex-Jared Foundation head admits child sex counts
- Priciest home sales in Lloyd Harbor
- Q&A with Mitch Tobol
- Didit acquires Berwald Creative
- Danaher acquires Pall
- US construction spending reaches highest level in 7 years
- Judge ices bankrupt rink sale
- Quietly, LI road becomes truck access route
- Google tries to woo iPhone owners with Android watch app


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Table of Contents
How will the shape of the retail sector in the U.K. and Europe adjust all through 2022? In this article are eight trends possible to loom massive for retailers and their suppliers.
1. COVID-19 uncertainty will persist.
Prior to the emergence of the Omicron variant, individuals in the U.K. and throughout Europe were being seeking forward to 2022, with robust levels of purchaser self confidence boding effectively for retail income and purchaser goods producers. On the other hand, the surge in cases caused by Omicron – and the reintroduction of COVID-19 limitations in numerous international locations – has dented people’s optimism. With so much uncertainty, merchants are struggling to anticipate possible demand from customers patterns in 2022 – and that absence of visibility now appears to be set to persist. That may possibly impression their urge for food to get on new solutions and suppress calls for for inventory, at the very least in the early portion of the year.
2. On line to continue being in the ascendancy.
With non-vital vendors in the U.K. shut during COVID-19 lockdowns – and people today keen to keep away from shops this kind of as supermarkets that remained open up – the pandemic has accelerated the development toward e-commerce. But now shops have reopened their doors, brick-and-mortar buying does not appear to be to be having fun with a resurgence. In exploration done by Attest, 50% say they “mostly” or “always” shop on the net for non-food goods, as opposed to 29% who shop in-shop. On the net grocery product sales also go on to surge. From item providers’ issue of check out, products packaging models that work effectively online as very well as on the shelf will be at any time much more vital.
3. Wellbeing and wellbeing items to uncover even much more favour.
A single effects of the COVID-19 pandemic has been to speed up the trend in direction of buyers searching for out healthier meals and concentrating on wellbeing products. Heightened awareness of well being challenges has prompted folks to give much more thought to what they consume. Plant-based mostly meals, in unique, have been a main beneficiary of this development, and that seems to be set to continue. In 2021, revenue of vegan food in the U.K. rose by 29% in comparison to the earlier 12 months. Product companies able to sate consumers’ demand for health and fitness and wellbeing vendors can glimpse ahead to a sturdy yr in 2022.
4. Affordable luxuries will offer perfectly, as well.
Raising desire for economical luxuries is a unique kind of COVID-19 pandemic. Quite a few grocers report that customers are splashing out on their luxury ranges, cheering on their own up during the gloom of the pandemic with sweet treats and identical products that come to feel a very little decadent without the need of breaking the financial institution. The ongoing squeeze on consumers’ pockets – not least owing to significant inflation (see underneath) – ought to see that keep on. Item producers in this corner of the industry ought to obtain that it is a sweet place.
5. Sustainability to leading the agenda.
Supermarkets and other suppliers in the U.K. and Europe are underneath massive stress on sustainability issues. With European individuals demanding much more sustainable items and expanding consciousness of the foodstuff sector’s contribution to local climate adjust, this is a important offer chain emphasis for the retail field. And as governments introduce new restrictions and disclosure expectations in the wake of November’s COP26 climate summit in Edinburgh, the stakes will climb even higher in the months and a long time in advance. Producers targeting European vendors have to have to be able to provide transparency on sustainability troubles – and powerful sustainability stories will provide specifically nicely.
6. Inflation to induce authentic pressure.
In the U.K., inflation strike 5.1% in November, its maximum charge in a 10 years, and charges are expected to rise even increased for the duration of the very first half of 2022. Related pressures are being felt across Europe, with inflation now at 4.9% in the solitary forex zone. Supermarkets and other retailers are acutely aware of the prospective influence on their consumers of climbing inflation and pricing will be a vital element of their aggressive approach in the yr ahead. That will indicate some difficult negotiations with suppliers, so producers want to be all set to fight their corner – and to think tricky about what is demanded to maintain profitability.
7. Customers to develop their horizons.
U.K. individuals in distinct have become increasingly world wide in their preferences in modern many years and this ongoing development is not fading. Supermarket group Morrisons, for case in point, points to surging demand for paneer cheese. Restaurant teams are speaking about raising fascination in wines from Japanese Europe. In practice, it is not easy for supermarkets to foresee what will truly capture shoppers’ creativity, but this desire for new goods is excellent news for producers globally advertising into the U.K..
8. Social media to increase its impact.
Finally, for producers hoping to get noticed, a potent presence on social media – and TikTok in unique – is heading to be even a lot more crucial, especially for those concentrating on young individuals. In the U.K., the influential Waitrose Food stuff & Drink report highlights how 3-quarters of all 18- to 24-yr-olds now search at TikTok and Instagram for meals inspiration one in 12 folks across all age teams posted a picture of their foodstuff on social media, or sent a snap to a friend.
Though COVID even now looms more than the retail industry, customer desires proceed to persist and evolve. Though authorities are not fortune tellers and the retail sector has proven to be really unpredictable these past several years, shops and suppliers will have to battle to maintain up in 2022.


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US President Donald Trump has said that trade deal with China was getting very close and could be announced in about four weeks, but warned it would be difficult to let China keep trading with the United States if remaining issues were not resolved.
Speaking to reporters at the White House yesterday at the start of a meeting with Chinese Vice Premier Liu He, Mr. Trump said some of the tougher points of a deal had been agreed but there were still differences to be bridged.
China and the United States are in the middle of intense negotiations to end a months-long trade war between the world’s two largest economies that has rattled global markets. The President is declined to say what would happen to US tariffs on 250 billion dollars worth of goods as part of a deal.
Meanwhile, Chinese Vice Premier Liu He said a new consensus has been reached between China and the US on the text of a trade agreement that both sides are negotiating.
According to official state media Xinhua, Chinese President Xi Jinping, through a message conveyed by Liu, told Mr. Trump that both sides have made new and substantial progress on key issues regarding trade in the past month.


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Settlement Reached at Ford Kansas City Plant, Strike Averted
UAW VP Says Deal “Meets the Needs” of Plant Workers
Late last week, workers at Ford’s Kansas City Assembly Plant (KCAP) threatened a strike, prompting Ford to add additional shifts at its Dearborn Truck plant in the event of a strike. Thankfully, late Friday night, Ford and the UAW Local 249 reached an agreement to avert a strike, Automotive News reports. If an agreement was not reached, the strike would have started on Sunday. United Auto Workers Vice President Jimmy Settles only said the deal “meets the needs of the Local membership” without giving specific details.
KCAP is one of Ford’s largest plants and accounted for 19 percent of the company’s total U.S. production output in August. The resolution to the Kansas City situation is just the beginning of Ford’s dealings with the UAW this year. Along with Fiat Chrysler Automobiles (FCA) and General Motors, Ford will have to negotiate a national contract later this year with the UAW. Among the big issues facing all the Detroit Three is a pathway for tier-two workers to work their way up to wage parity with tier-one workers that were hired prior to the 2008-2009 auto industry crisis that forced General Motors and Chrysler into bankruptcy. A health care pool for UAW workers to improve coverage and lower costs will also be part of this year’s talks.
Source: Automotive News


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Two great news reports concerning Apple Computer’s profitability and popularity.
The Guardian has reported that for the first time in 20 years, Apple’s quarterly profits and revenues ($6 billion and $24.7 billion respectively) were greater than Microsoft’s ($5.2 billion and $16.4 billion, respectively). The reason for this is the decline in popularity of laptop and desktop computers, since Microsoft gets half of its profits from Windows licenses, as well as Bing recording a loss of $726 million. However, Windows 8 will be coming in September. That should have support for tablets, so time will tell if Apple can maintain its lead.
Research firm Canalys considers Apple Computer the fourth-largest largest PC maker in the first quarter, if you count tablets as PCs. Canalys does this, unlike analyst firms Gartner and IDC, because “that current [tablet] usage resembles that of a PC, rather than a media player or e-book reader.” Apple sold 8.45 million PCs for a 9.5% market share, an increase of 187.9% in the first quarter. Hewlett-Packard is the largest PC maker with 14.7 million shipped PCs (declining by 5.8% from last year) for a 16.6% market share, Acer is second with 11.4 million PCs shipped (declining by 6.5% from last year) and a 12.8% market share, and Dell is third with 10 million PCs sold (increasing by 2.8% from last year).
IDC and Gartner agreed that the iPad was partly responsible for the slowdown in PC shipments. “With the launch of the iPad 2 in February, more consumers either switched to buying an alternative device, or simply held back from buying PCs. We’re investigating whether this trend is likely to have a long-term effect on the PC market,” said Mikako Kitagawa, principal analyst at Gartner, in a statement earlier this month.


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Poundland to create Harlow jobs after Tesco closure
Discount retailer Poundland hopes to create up to 650 jobs with a new distribution centre in Harlow.
The announcement has been made in the same week as Tesco confirmed it planned to close its Harlow warehouse, which employs 800 staff.
The Tesco job losses are part of its distribution restructuring, which will operate from centres in Berkshire and London.
Poundland said it would be submitting a planning application in due course.
Ben Wall, Poundland's national portfolio manager, said: "We are preparing to submit a planning application for a 350,000 sq ft (32,516 sq m) distribution centre at The Pinnacles in Harlow, Essex, which could create up to 650 jobs at the peak of its operation.
"Working in partnership with Lynton Developments we are seeking to redevelop the former Pitney Bowes and GlaxoSmithKline sites and replace the outdated buildings with a brand new facility.
"The distribution centre would be a £40m investment for Poundland with the aim for it to be operational by 2014."
A Tesco spokesperson said: "We've been reviewing our distribution network, and have confirmed plans to close some of our current distribution centres and open new ones.
"Colleagues who are affected will be offered jobs at other Tesco sites, including at the two new distribution sites in Reading and Dagenham, where 2,000 jobs will be created."
The Usdaw union national officer Joanne McGuinness said: "This is absolutely devastating news for our members and their families."