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FinTech in Focus
The Banking OnRamp
There has always been a tug-of-war between innovation and regulation. At the launch of our FinTech program in 2014, we observed that “the rise of FinTech challenges underlying precepts of existing regulatory approaches and requires fresh thinking as to how regulation can best foster the responsible development of this industry.”
One of the most difficult and arduous tasks for FinTechs, if they are indeed interested, is in obtaining a banking license from their respective regulatory authority. In all fairness, banking licenses come with a lot of responsibility given the power bestowed by a regulator on a newly licensed bank—it shouldn’t be easy to obtain.
But, are the frameworks and processes so outdated, time consuming, and costly that rather than instilling competition in the banking system, we’ve actually created a regulatory moat nearly impossible to ford? As Citi's global head of banks research remarked, “the license is a competitive moat.”
If that’s the case, then fresh thinking on how eligible applicants can navigate a less burdensome process towards a license should be welcomed. Greater competition should be encouraged to the benefit of the end user.
Take Australia, for instance. A few weeks ago, the Australian Prudential Regulation Authority (ARPA) finalized its restricted authorized deposit-taking institution (ADI) framework to provide eligible entities with a restricted, yet more manageable process by allowing the entity to conduct a limited range of business activities for up to two years while they build the capabilities to become fully licensed. The restricted ADI framework was published nearly a year after ARPA released a discussion paper on authorizing new entrants to the banking industry. Three days later, APRA granted a restricted ADI license to online startup Volt.
In Israel, the Bank of Israel just announced a policy that provides an eligible entity with a limited bank license, modeled off the efforts of the U.K., Australia, and other supervisory authorities. The licensing model will allow an entity to manage limited deposit and credit provision activities, while completing the process to become permanently licensed.
These are just a few examples, but it does go to show that regulators around the world are beginning to question, if not outright questioning, current regulatory constructs and whether they ultimately make sense. Providing an on-ramp for eligible entities seeking to become a fully licensed bank is a step in the right direction.
AltFi: High default rates on loans made by online lenders have resulted in stricter underwriting standards by the industry leaders, according to Bloomberg. Prosper, for example, saw its weighted average of FICO scores rise to 717 from 704 two years ago, according to Kroll, a ratings agency. This comes as online lenders have begun to lean on securitization more and more, and investors risk tolerance has diminished.
Meanwhile, China’s FinTech giant Ant Financial announced a shift in their strategy to focus on technology. This comes after Chinese regulators have applied an increasing amount of pressure on the Alibaba spin-off, citing concerns about systemic risk.
Blockchain and Crypto: Building off its previous announcement that it would launch its own cryptocurrency pegged to the dollar, Circle announced that it will seek a federal banking license in the United States, as well as a registration from the SEC as a brokerage and trading venue. In an interview with Bloomberg, Circle’s CEO conceded that the move would not be easy but noted that its current task of appeasing 50 state regulators is no easy feat either.
Meanwhile, there is a new religion in the universe: blockchain. This is, well, unsurprising. Speaking of blockchain, this blockchain company raised over $4 billion in an ICO without having launched a product. With that, my patience with blockchain has run out for the week.
Challenger Banks: Challenger banks had another busy week. First, Revolut launched in Russia as part of a partnership with QIWI Bank and also announced their intention to apply for a banking license in the United States. According to their CEO, they aim to submit an application in California by the end of 2018. Not to be outdone, Atom Bank received a £85.4 million investment from BBVA, bringing BBVA’s stake in the company to 39 percent. Meanwhile, Starling Bank is seeking £80 million from investors and has dropped its partnership with TransferWise. This comes as Starling Bank is launching their own international payments feature, and TransferWise has begun offering their own bank accounts. TransferWise has already found another suitor, however, with rumors circulating that it might partner with Monzo.
However, the U.K. isn’t the only European (yes, you guys are still European) country to export challenger banks, as Berlin-born N26 recently reached one million users after its launch in the United States.
InsurTech: ZhongAn, China’s InsurTech giant, continues to suffer from the downswing in China’s tech market. The FT reports that ZhongAn’s shares are down 46 percent from their peak, reflecting second thoughts about InsurTech among investors. Meanwhile, ZhongAn has rolled out blockchain infrastructure as a part of their partnership with a group of 100 hospitals. They aren’t the only insurers looking to blockchain technology, either, with Korea’s Zikto and AXA launching blockchain products of their own as a part of a new partnership.
Wrisk, a British InsurTech startup backed by Munich RE, recently completed another equity crowdfunding campaign for £500,000. Wrisk stated that they plan on waiting until the first quarter of 2019 for their Series A funding round. Currently, it is in the process of incorporating its findings from the FCA’s regulatory sandbox and building out its offerings.
Payments: The Indian Payments War of 2018 continues and has begun to take its toll on Paytm. WhatsApp is accelerating its offensive, partnering with a host of banks in an effort to gain market share. WhatsApp already has 200 million users in India, presenting a significant challenge to Paytm. Meanwhile, in Europe, Adyen announced that its IPO will aim for an $8.3 billion valuation. This underscores that Adyen feels it is well placed, with customers like eBay, Netflix, and Uber. Meanwhile, N26 announced that it will offer Apple Pay to its customers in Ireland. Finally, in remittances, WorldRemit announced a partnership with the First Bank of Nigeria.
The Cambridge Center for Alternative Finance, the Asian Development Bank Institute, and the Academy of Internet Finance at Zhejiang University have partnered on a third alternative finance industry survey covering the region. Findings from this survey are expected to be unveiled later this year.
In prepared remarks to the Senate Economics Legislation Committee, James Shipton, chair of the Australian Securities and Investments Commission, detailed ASIC's role in encouraging the adoption of RegTech solutions in the financial services sector. According to Shipton, "ASIC believes Australia can position itself as a world leader in the development, and adoption, of regtech solutions, and we will look at new ways to encourage this." The Senate hearing can be found here.
The European Commission is proposing to create "the first ever Digital Europe programme and invest €9.2 billion to align the next long-term EU budget 2021-2027 with increasing digital challenges.” The €9.2 billion will be allocated to projects intended to strengthen supercomputing and data processing in Europe, artificial intelligence efforts, safeguarding EU's digital economy by boosting its cybersecurity industry, digital skills, and encouraging the use of digital technologies across the economy and society.
Meanwhile, the European FinTech Alliance is not happy with members of the European Commission's expert group on regulatory obstacles to financial innovation. The group was established as part of the Commission's FinTech Action Plan. At present, the group has 14 members, yet only one FinTech-focused organization. This has led to accusations that startups will not benefit from the guidance put forward by the group.
A new report released by European lawmakers calls for greater regulation of virtual currency exchange platforms. According to the paper, the EU "should expand on 5AMLD’s regulation of VC-to-fiat exchange platforms and take steps to regulate VC-to-VC exchange platforms." Also, the EU "should convene an expert working group to assess further measures that may be required to supplement 5AMLD over time," and play a leadership role in advocating for a consistent global regulatory approach surrounding AML/CFT regulation around virtual currencies. The report also states that the experience of the U.S. "suggests that comprehensive AML/CFT regulation around the VC industry, supported by meaningful enforcement action, can mitigate exposure to illicit finance risks."
Denmark has joined the European Blockchain Partnership. The partnership was launched back in April to act as a vehicle "for cooperation amongst Member States to exchange experience and expertise in technical and regulatory fields and prepare for the launch of EU-wide blockchain applications across the Digital Single Market....”
The government is moving to establish a regulatory framework for initial coin offerings (ICOs). The Pact Act is slated to be introduced this month and presented to France’s Treasury and financial services regulator before moving on to the French Parliament for votes. It is unclear when votes will take place and when the law would take effect.
The Unique Identification Authority of India (UIDAI) has denied Airtel Payments Bank permission to use Aadhaar-linked Know-Your-Customer authentication due to certain allegations made against the payment bank.
The state of Maharashtra is planning to develop a sandbox to aid startups in the FinTech space. The government is also planning to have a dedicated FinTech officer located in the Department of Information Technology. Of note, various other state governments have expressed interested in partnering with Maharashtra, and the government is currently working on an agreement with the government of Andhra Pradesh.
International Monetary Fund
Dong He, deputy director of the IMF's monetary and capital markets department published a white paper titled, “Monetary Policy in the Digital Age: Crypto Assets May One Day Reduce Demand for Central Bank Money.” According to He, crypto assets "lack three critical functions that stable monetary regimes are expected to fulfill: protection against the risk of structural deflation, the ability to respond flexibly to temporary shocks to money demand and thus smooth the business cycle, and the capacity to function as a lender of last resort."
That said, crypto assets do offer certain advantages. Namely, they offer nearly the equivalent level of anonymity of cash, allow for transactions to take place across long distances, and are potentially more divisible by the unit of transaction. In addition, they can be cleared and settled quickly without the need for an intermediary.
In short, "we cannot rule out the possibility that some crypto assets will eventually be more widely adopted and fulfill more of the functions of money in some regions or private e-commerce networks.”
For their part, central banks should respond to the competitive pressure of crypto assets by continuing to strive to make fiat currencies better and more stable units of account, by regulating the use of crypto assets to prevent regulatory arbitrage and unfair competitive advantage derived from lighter regulation, and by continuing to make their money attractive for use as a settlement vehicle.
Also, a central bank digital currency "could help counter the monopoly power that strong network externalities can confer on private payment networks."
Lastly, the IMF expanded its FinTech Advisory Group to include six new member groups. The current lineup is as follows: Circle, BBVA, Alibaba Digital Economy Institute, DTCC, U.S. Treasury, Bank Indonesia, Ripple, European Central Bank, Chain, Digital Asset, OECD, MIT Sloan, Monetary Authority of Singapore, People's Bank of China, Harvard Berkman Klein Center, Blockchain.com, Bank of Canada, Kount, and Luxembourg House of FinTech.
The central bank published a policy "that regulates, clarifies and simplifies the process of establishing a bank, and creates regulatory certainty in the early stages of the licensing process for anyone interested in establishing a bank." To carry out the policy, the banking supervision department "has established a Licensing and New Banks Unit, which is intended—among its other functions—to guide the applicant through stages of the licensing process, examine requests for bank licenses and for permits to control a banking corporation, and supervise the new bank after receipt of the license."
Lastly, Daniel Hahiashvili, who has worked at the central bank for nearly two decades, was appointed head of the technology and innovation division in the banking supervision department.
For the first time ever, the Financial Services Agency is expected to reject the registration of virtual currency exchange operator, FSHO, due to a lack of sufficient risk controls.
The central bank released its Payments Strategy Roadmap for 2018-2021. According to the release, the bank has “formulated three key priorities. They are: stimulating innovation, promoting a robust electronic payment infrastructure, and working on a well-functioning cash payment chain.” According to one article covering the report, the bank reiterated its support for FinTech solutions, including whether blockchain and distributed ledger technology can improve the Dutch payment system, but largely dismissed the use of cryptocurrencies.
The Portuguese Tax Authority created a framework around the taxation of cryptocurrencies and whether or not VAT applies and in what circumstances.
Government officials from India and Singapore signed a memorandum of understanding to strengthen cooperation in financial innovation through the establishment of a joint working group co-chaired by Monetary Authority of Singapore Managing Director Jacqueline Loh and India Department of Financial Services Additional Secretary Ravi Mital.
Choi Jong-ku, chairman of the Financial Services Commission, stated that the government will submit a bill that relaxes crowdfunding rules in an effort to spur capital access for SMEs.
According to a report in CoinTelegraph, the Spanish Congress unanimously approved draft legislation to regulate blockchain technology and cryptocurrencies. "The document calls for a review of regulations pertaining to cryptocurrencies such as Bitcoin (BTC), as well as to blockchain, proposing to introduce the technology to the Spanish market through ‘controlled testing environments,’ commonly referred to as ‘regulatory sandboxes.’"
According to a survey conducted by FICO on how Swedes view PSD2, only a third knew about the directive, with the lowest level of awareness among 16- to 24-year-olds. Similarly, nearly half of respondents didn’t want to share information with any third party, while one-third of respondents said they were "uncertain" about this. Nearly half of those surveyed were uncertain as to how PSD2 would affect fraud.
Meanwhile, the country's central bank released a consultation on instant payments and the central bank's role in the payment infrastructure. In particular, the bank “would be interested in hearing respondents’ views in general on potential future changes in the payments landscape which may be of relevance to the RIX system going forward. Examples of such areas could be the entrance of new payment service providers in the market, possible new payment services or prospective changed consumer behaviour regarding payments in the future.”
Abu Dhabi Global Market (ADGM) and the Hong Kong Securities and Futures Commission have entered into a cooperation agreement "to jointly promote and support financial services innovation in Hong Kong and the UAE." The agreement "includes sharing of relevant information on innovation, providing support in the authorisation processes where appropriate, and referring cross-border activities that will accelerate the growth of the financial and FinTech industries in both jurisdictions."
And speaking of ADGM, ADGM's RegLab successfully completed its third round of applications with a total of 36 local and international FinTech innovators "offering potential solutions for the financial and small-medium enterprise sectors in the Middle East and Africa region." The ADGM RegLab saw a 70 percent jump in interest from platforms compared to the number of platforms that applied to its second cohort.
In early June, the Bank of England launched a six-week consultation on the adoption of a common messaging standard, ISO 20022, for payments in the U.K. According to the consultation, "the UK’s fragmented and restrictive messaging standards mean today’s systems are not best placed to respond.... This consultation document marks the first step in the transition of CHAPS, Faster Payments and Bacs to ISO 20022 and proposes a format for a new, common messaging standard to payments made in these systems. The format has been developed jointly by the Bank and the UK retail payment systems via the newly established New Payment System Operator (NPSO) and in close collaboration with payment providers."
In Parliament, MPs are asking Visa what went wrong after a system crash left millions of people unable to pay for goods and services in the U.K. and across Europe. Nicky Morgan, chairwoman of the Treasury select committee, wrote to Charlotte Hogg, Visa's CEO for Europe, demanding to know what went wrong.
The RFi Group released the results from a survey which found that U.K. Millennials view Amazon, PayPal, Mastercard, and Visa "as more trustworthy" than banks when it comes to personal data security. Regarding tech giant Facebook, more than three-quarters of respondents stated that they distrusted the entity to hold and maintain the privacy and security of their data.
At the federal regulator level, both the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) testified before the Senate Appropriations Committee on their FY 2019 budget requests. Both testimonies discussed FinTech-related topics including the work of LabCFTC and the SEC’s cryptocurrency enforcement efforts.
Speaking of the SEC, the Commission named Valerie Szczepanik as associate director of the division of corporation finance and senior advisor for digital assets and innovation—a newly created advisory position. "Ms. Szczepanik will coordinate efforts across all SEC Divisions and Offices regarding the application of U.S. securities laws to emerging digital asset technologies and innovations, including Initial Coin Offerings and cryptocurrencies," according to the press release.
At the state level, New York's Governor signed AB 8938, which directs the Department of Financial Services to study online lending institutions that conduct business in the state and requires the department to submit a report containing an analysis of the online lending industry, applicable state and federal laws, and recommendations by July 1.
Meanwhile, the New York State Assembly has proposed a bill that would establish a digital currency task force "to provide the governor and legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems in the state." The task force will consist of nine members with a report due by December 2019.
In California, the California Consumer Privacy Act is likely to qualify for the ballot in November which could significantly impact businesses that sell or disclose consumers' information.


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Almost a week after US President Donald Trump signed his executive order, there is a steady flow of chips and Huawei software from US companies such as Intel, Qualcomm, and Google is almost distressing. To make things even worse, the German chip manufacturer Infineon Technologies has also started to stop its chips being transported to a Chinese telecommunications brand.
To be fair, Infineon told the Nikkei Asian Review that it prevented any goods distributed from its US branch to Huawei. In accordance with the operational order of the Trump Administration. He also made it clear that most of his products supplied to the brand were not affected by US export controls.
Compared with the other brands, Infineon's business with Huawei is only equivalent to the latter's annual revenues. Statistically, only 2% contribute. Infineon's contribution, however, continues to be regarded as an essential supply line for Huawei devices.
Despite these difficulties, the founder of Huawei, Ren Zhangfei, has expressed confidence in the company's ability to survive the political storm. And “US chips don't need to survive”. For users using Huawei and HONOR devices right now, don't do that. In line with our earlier report, the ban does not affect existing devices released before the ban. Furthermore, it appears that the administration of Trump has granted Huawei a temporary license which will enable it to provide a service and support to smartphones and a fully operational network and equipment.
(Source: Nikkei Asian Review, Reuters)

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With the increasing rise of hacked celebrity phones and photos leaked to the highest bidder, perhaps consumers will take heart that there is at least one mobile phone network that takes personal security seriously. Blackberry, the maker of the Z10 and Q10 smartphones, has always been known for its secure mobile networks and it is therefore not surprising that it is the first Mobile Device Management provider to be allowed to operate on the U.S. Department of Defense networks.
BlackBerry Awarded “Authority to Operate” on U.S. Department of Defense Networks
DISA deploying BlackBerry Enterprise Service 10 to support BlackBerry 10 smartphones on DoD networks
Waterloo, ON – BlackBerry® (NASDAQ: BBRY; TSX: BB) today announced the U.S. Defense Information System Agency (DISA) has given BlackBerry® Z10 and BlackBerry® Q10 smartphones with BlackBerry® Enterprise Service 10, the Authority to Operate (ATO) on Department of Defense (DoD) networks. BlackBerry is the first Mobile Device Management (MDM) provider to obtain an ATO.
With the ATO, DISA is now developing the infrastructure to support BlackBerry 10 smartphones. DISA is architecting the capacity to support 10,000 BlackBerry 10 smartphones by this fall and 30,000 by the end of 2013 on DoD networks.
“Being the first smartphones to be supported on U.S. Department of Defense networks further establishes BlackBerry’s proven and validated security model,” said Scott Totzke, SVP, BlackBerry Security Group at BlackBerry. “With foreign entities – governmental and criminal – ramping up attacks on electronic communications and information systems, BlackBerry provides government agencies with a proven partner that follows top-to-bottom security protocols.”
Receiving the ATO is a critical step forward in the security certification process. The approval demonstrates that BlackBerry 10 smartphones meet DoD’s most stringent security requirements. BlackBerry 10 smartphones will enable DoD personnel to have the ability to securely connect to networks and access assets from work. The BlackBerry mobile infrastructure provides a highly responsive, intelligent and intuitive mobile computing experience while ensuring the personal and the corporate information on a user’s phone are kept separate and safe.
For more information about BlackBerry 10, please visit: www.blackberry.com/BB10.
A global leader in wireless innovation, BlackBerry® revolutionized the mobile industry when it was introduced in 1999. Today, BlackBerry aims to inspire the success of our millions of customers around the world by continuously pushing the boundaries of mobile experiences. Founded in 1984 and based in Waterloo, Ontario, BlackBerry operates offices in North America, Europe, Asia Pacific and Latin America. BlackBerry is listed on the NASDAQ Stock Market (NASDAQ: BBRY) and the Toronto Stock Exchange (TSX: BB). For more information, visit www.blackberry.com


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DESPITE reports on the country’s improving export performance, some exporters in Cebu are still reporting flat growth in the first half of the year, and official of the Philippine Exporters Confederation (Philexport-Cebu) said.
Philexport Cebu executive director Fred Escalona said some businesses still have not recovered from the global economic slowdown, an official from the Philippine Exporters Confederation (Philexport-Cebu) said.
“There is a slight pick-up in the orders. However, it is erratic,” Philexport Cebu executive director Fred Escalona said in a phone interview Wednesday.
There may be players that are now doing well like those in the gift, toys and housewares (GTH) and fashion accessories sub-sectors but the furniture industry is still under pressure.
“There is still slow recovery in the furniture sector,” Escalona said, citing additional pressures like the salary issue and the appreciation of the peso.
Data from the Cebu Furniture and Industry Foundation (CFIF) showed that the first quarter volume of Cebu furniture exports dropped from 4,193 containers in 2008 to 2,754 in 2009 to 2,728 in 2010. Its annual volume last year dived from 14,964 in 2008 to just 8,537 containers.
Its total export bill in the first quarter of the year was valued at $19 million, according to the National Economic Development Authority (Neda) 7. Its export value in March was $6.5 million, down by 13 percent from $7.4 million in February but 32 percent higher compared with the $4.9 million in January.
The export growth rate in the first quarter averaged 19 percent monthly.
The United States remained the largest market for Cebu furniture exports in the first quarter, covering $12 million or 64 percent of total exports. Other markets included Japan, the Netherlands, Ireland, Germany, South Korea, the United Kingdom, Italy, Australia and Saudi Arabia, with shares of less than five percent each of total exports for the same period.
The report also said that Japan, South Korea, Australia and Saudi Arabia are the best markets for Cebu furniture industries since exports to these markets have consistently been growing from January to March.
The fastest growing market is Saudi Arabia, with exports to the kingdom going up in March to $170,000 from $3,000 in February.
Exporter Pete Delantar of Nature’s Legacy said buyers are still cautious, as seen in their orders.
“Orders have come back but are unpredictable,” he said.


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In accordance to the Australian authorities’s choice final yr Google and Fbwould have to make a deal with Australian media retailers and have to pay media retailers per information they broadcast.
Google Australia managing director, Mel Silva, acknowledged that the proposal in query was “unenforceable”. “If this turns into regulation, it can depart us no alternative however to cease making Google Search out there in Australia.” had used the phrases.
Australian Prime Minister making an announcement on the topic Scott Morrison, if Google withdrew from the nation, of the void will be stuffed with Microsoftwhat did he say.
PRIME MINISTER AND GOOGLE CEO MEET
Prime Minister Morrison and Sundar Pichai, CEO of Google, held a gathering on the topic.
Prime Minister Morrison, at a press convention in the capital, Canberra, mentioned the assembly was “constructive”.
Stating that he had a “extra constructive” outlook on Google’s future in his nation after the assembly, Morrison mentioned, “I gave them the absolute best indicators that ought to encourage them to become involved in the course of. I feel we have managed to steer them in direction of a way more constructive area in persevering with to present providers in Australia.‘ he mentioned.
THE PROGRAM WILL NOT BE AVOIDED
Morrison, who didn’t present data on whether or not Google withdrew its risk to shut down the search engine, added that he made it clear throughout the assembly that his authorities wouldn’t abandon its plan to enact the invoice.
Google’s search engine, which is the most utilized in Australia, holds 95 p.c of the market share in the nation, whereas Bing’s market share is 3.7 p.c.
#Google #agenda #withdraw #nation #met #Prime #Minister #Australia
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Are Walmart and Big Food Lobbying for a GMO Labeling Law?
Continued from previous page
Hats off to the thousands of activists and millions of consumers and voters who have made GMOs and GMO labeling burning issues in the U.S. Wal-Mart and the Big Food lobby would not be sitting down behind closed doors this week asking the FDA to take action if it were not for the growing online/marketplace/political activism of our nationwide organic anti-GMO movement. But, as more and more of us understand, this monumental food fight is not just about labeling GMOs. We are fighting, as well, for a healthy and sustainable food and farming system, a green and equitable economy, a stable climate, and a real democracy where citizens, not corporations and their indentured politicians, rule.


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Stussy has linked up with Theophilus London and LVRS to produce a special collaborative capsule collection. Featuring a snapback and tank top alongside long- and short-sleeve tees, the capsule comes in a predominately black and red color scheme with the LVRS rose motif and Stussy branding prominently displayed throughout. Set to be available in extremely limited quantities, the pieces will make their debut at Stussy’s Los Angeles chapter store tonight, August 24, at 8 p.m. as a part of a special release event – hosted by Theophilus London himself – before landing online on August 27 at 12 p.m. PDT.


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HARARE - Industry minister Mike Bimha says government is in the process of reviewing items on Zimbabwe’s import restrictions list with the view of adding or removing some, as the country moves to monitor import influx.
Bimha, who last year imposed restrictions for locally available imports under Statutory Instrument 64 of 2016 (SI64), said the list was flexible with government working with an evaluation and assessment committee tasked with looking into the legislation’s impact.
“What we have always said is that the list will constantly be reviewed with guidance from a committee led by Mike Nyabadza.
“The reason behind this is to ensure the items on the list are relevant to the cause of what we are trying to do, which is promoting local industry and managing imports. At the end of the day you may discover we will add some items and remove some as we go along,” Bimha said recently delivering his state of industry update.
Market reports indicate the minister is due to meet up with the assessment committee in the next fortnight to look into the list and address smuggling problems that arose from the measures.
Indications are the minister will slash pharmaceuticals from the list following reported drug shortages around the country by local pharmacies.
“Yes, there have been challenges… notably, the growth in smuggling is one such challenge but we have been putting mechanisms in place… Of course I cannot outline them because it will alert smugglers, but the situation is well under control.
“As stated in the terms of reference of the committee, they will also deliver monitoring reports on employment generated; assessing the re-tooling taking place in the various sectors; monitoring the growth in capacity utilisation; evaluating efficiencies of companies and evaluating impact on prices,” he said, adding the committee was also looking at other measures that can be put in place to promote business.
Bimha said the committee will also focus on assessing backward and forward linkages created, monitor the quality of products produced and monitoring small-to-medium enterprises graduation.
The committee is made up of members from various key stakeholders including the Confederation of Zimbabwe Industries (CZI), Zimbabwe National Chamber of Commerce, Buy Zimbabwe, Consumer Council of Zimbabwe, ZimTrade, and Reserve Bank of Zimbabwe among others.
In June last year, the minister restricted entrance of goods such as baked beans and potato crisps, cereals, bottled water, mayonnaise, salad cream, peanut butter, jams, maheu, canned fruits and vegetables, pizza base, yoghurts, flavoured milks, dairy juice blends, ice-creams, cultured milk and cheese.


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A big November for automakers
Damage from Sandy, growing consumer confidence and a calmer political landscape help auto sales over the month.
Updated 4:48 p.m. ET
Less political uncertainty, signs of a recovering economy and a need to replace vehicles damaged by Superstorm Sandy have combined to produce very good November sales numbers for automakers.
Industry analysts estimate that more than 1.1 million vehicles were sold last month in the U.S. -- putting sales numbers for 2012 at more than 15 million, or what could be the highest yearly sales rate since before the start of the Great Recession in 2008.
Toyota (TM) reported its November sales figures up 17%, Nissan's (NSANY) sales increased by 12.9% and Volkswagen (VLKAY) rose over 29%. Hyundai Motor America (HYMLF) reported a gain of 8%, its best November since the brand first came to the United States more than 25 years ago.
Overall, the industry's sales rate for light vehicles came in at 15.54 million on an adjusted annualized basis, according to industry tracking firm Autodata. That's up from 13.55 million a year earlier, and is the highest rate since January of 2008. Total unit deliveries rose 15% from a year earlier and 4.7% from October 2012.
"The Black Friday sales period once again provided a strong boost for Hyundai in the back half of the month and helped break our all-time November sales record," said Dave Zuchowski, Hyundai's executive vice president of sales, in a press statement. “We were also very encouraged by the strong sales recovery experienced in those northeastern regions that were ravaged by Superstorm Sandy and expect continued momentum there for the balance of the year."
According to the Hartford Courant, a recent analysis of insurance claims now suggests Sandy damaged or destroyed an estimated 230,000 vehicles.
Sandy also slowed down car sales at the end of October as the storm hit, so new-car lots faced pent-up demand in November -- while automakers offered new incentives.
"The fact that November sales have bounced back from a sluggish October suggests that those who lost cars or who deferred purchases after Hurricane Sandy are already getting back on the road," said Edmunds.com senior analyst Jessica Caldwell in report quoted by the Detroit Free Press. "Fortunately for these buyers, they entered a market in which holiday and year-end deals were in full swing and loan rates hovered near all-time lows."
Americans also are feeling a bit better about the economy. The Conference Board's Consumer Confidence Index rose to 73.7 in November from 73.1 in October -- its highest levels in more than four years.
"Over the past few months, consumers have grown increasingly more upbeat about the current and expected state of the job market," said Lynn Franco, the board's director of economic indicators, "and this turnaround in sentiment is helping to boost confidence.”
Consumer confidence was also being helped by a resolution of the U.S. presidential election -- and apparent indifference to the contentious financial wrangling in Washington, D.C.
"We don't expect any major impact on auto sales from the ongoing fiscal cliff discussions," TrueCar.com senior analyst Jesse Toprak reported last week.
"Even with all the talk of a looming fiscal cliff, Chrysler Group is well positioned for a strong sales finish to the year," said Reid Bigland, Chrysler’s head of U.S. sales and CEO of the Dodge brand, in a press release. "We are expecting a strong December as the industry continues to recover from the East Coast hurricane and consumers continue to respond to our popular year-end Big Finish event."
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[BRIEFING.COM] The major averages spent the entire session in a steady downtrend, but despite persistent selling pressure, today's losses were limited in scope. The Dow, S&P 500, and Nasdaq shed between 0.2% and 0.3% while the Russell 2000 lagged, falling 0.9%.
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John Stumpf acknowledges that growth has been slow, but he says he's still optimistic.


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Take a tour of the 2008 Orange County Auto Show from Anaheim, California.
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Microsoft Corp. (NAS:MSFT) announced Monday morning that it would be acquiring ZeniMax Media, the parent company of game publisher Bethesda Softworks, for $7.5 billion in cash. Shares of Microsoft are down 1.8% in premarket trading. The company said in its release that games "are fueling new cloud-gaming services like Xbox Game Pass," which has over 15 million subscribers. Microsoft plans to add Bethesda's "iconic franchises" to the GamePass library and it intends to bring future Bethesda games to Game Pass on the same day that they launch on Xbox or PC. "Quality differentiated content is the engine behind the growth and value of Xbox Game Pass-from Minecraft to Flight Simulator," Chief Executive Satya Nadella said in a release. "As a proven game developer and publisher, Bethesda has seen success across every category of games, and together, we will further our ambition to empower the more than three billion gamers worldwide." Microsoft expects the deal to close in the back half of fiscal 2021 and have "minimal impact" on non-GAAP operating income in fiscal 2021 and fiscal 2022. Microsoft shares are up 13% over the past three months as the Dow Jones Industrial Average (DOW:DJIA) has gained 7%.
Sept. 21, 2020, 9:19 a.m. EDT


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Plan 9 Alehouse, a new downtown Escondido brewpub, will host a "soft opening" celebration at 5 p.m. Thursday.
Owner Aaron Calles describes Plan 9 as a "small-scale restaurant and a small-scale brewery." It's at 155 E. Grand Ave. in the former site of Theatrx, a historic landmark building.
Plan 9 gave customers a "sneak peek" last Friday during the weekly Cruisin' Grand classic car shows. And Calles served beer he brewed during the Grape Day Festival on Sept. 7.
A formal grand opening will take place in October.
The new business has generated a lot of buzz in Escondido. Plan 9 has more than 1,000 "likes" on Facebook and nearly 350 followers on Twitter.
"It's going to bring a lot of foot traffic and excitement to downtown Escondido," City Councilman John Masson said. "It's just what we need."
For details, visit plan9alehouse.com.


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The meeting on November 8 has been postponed
until Tuesday November 22.
Members can now use the "Q and A" page to suggest any
changes to our CBA for upcoming negotiations.
2016 General meeting schedule is now posted.
Second Tuesday of the month from April to December, except July.
All meeting will be held at CUPE office starting at 4:10
Watch for the online CUPE merchandise catalog.
You will be able to order CUPE products here, and pay when it arrives.


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The International Olympic Committee doesn't care about social media, the internet, sports fans or your GIFs. Here's why.
Katharine Viner has been named editor in chief of The Guardian, becoming the first female editor since the newspaper was founded in 1821.
In one of few major public appearances in more than a decade, Monica Lewinsky took the TED stage to discuss online compassion.
Will people pay for a trip to outer space in the same way they'll pay for House of Cards? John Hendricks thinks so.
For tech enthusiasts, Internet lovers, pop-culture savants and entrepreneurs, SXSW Interactive is the place to be.
Four of the biggest and most prestigious publishers in the world have teamed up to form a private market to sell online ads.
What has SXSW become? What have these Interactive interlopers done to the former fiefdom of Film and the monarchy of Music?


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The Ministry of Environment has reached several decisions pertaining to the ban on production, distribution and sale of non-biodegradable lunch sheets from 1st of August.
These include increasing the production, distribution and sales fine of polythene lunch sheets from Rs.10,000 to Rs.100,000, granting a grace period of one-month to polythene lunch sheet production companies and granting consent for new companies to produce biodegradable lunch sheets.
The Ministry said eight companies produce biodegradable lunch sheets at present, whose representatives, the subject Minister Mahinda Amaraweera held extensive discussions yesterday.
The Minister instructed the Central Environmental Authority to submit a report to the Cabinet of Ministers on the difficulties faced by the companies concerned.
Furthermore, it was also decided to revoke the licenses issued to companies that claim to manufacture biodegradable lunch sheets while in reality producing polythene lunch sheets.


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Federal health officials are warning parents and caregivers not to buy WanaBana apple cinnamon fruit purée pouches or feed them to their children because the product may contain elevated levels of lead.
Children who have had the fruit pouches should be taken to a health care provider to get a blood test, the Food and Drug Administration said on Saturday.
After four children in North Carolina were found to have elevated levels of lead in their blood, an investigation by state health and consumer agencies identified the pouches “as a potential shared source of exposure,” the F.D.A. said. North Carolina health officials analyzed multiple samples of the fruit purée and detected “extremely high concentrations of lead,” the agency added.
The F.D.A. reviewed the findings and said that those lead levels “could result in acute toxicity.”
The fruit purée pouches are sold nationally and are available through multiple retailers including Sam’s Club, Amazon and Dollar Tree. WanaBana, based in Coral Gables, Fla., agreed to voluntarily recall all WanaBana apple cinnamon fruit purée pouches, regardless of the expiration date.
The company said in a statement issued on Sunday that it was working closely with the F.D.A. to investigate the source of contamination. “The company is committed to ensuring the safety of its products and the well-being of its consumers,” the statement said.
Children under 6 are at greatest risk for health issues from lead exposure, according to the Centers for Disease Control and Prevention.
Lead is toxic to people of any age or health status, but it’s more harmful to younger children because their bodies are still developing. Lead poisoning is often difficult to spot in children because they typically have no obvious or immediate symptoms, according to the F.D.A.
Lead toxicity can be diagnosed only through clinical testing, the agency said, and signs and symptoms vary based on exposure. Short-term symptoms include headache, abdominal pain, vomiting and anemia. In the long term, side effects can include irritability, lethargy, fatigue, constipation and difficulty concentrating.
Children in particular can experience damage to the brain and the nervous system, learning and behavior problems, and difficulty with hearing and speech, according to the C.D.C.


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We’ve curated the best content from our healthcare insights for you. Read these articles to stay ahead of the curve.
- By Scott Herbst, SVP at Availity February 2018 - Healthcare consumerism has become an increasingly important focus for healthcare organizations as deductibles have risen in conventional health plans and as high-deductible health plans (HDHPs) have spread. Usually tied to health savings accounts, HDHPs incentivize consumers to make informed and judicious decisions about the healthcare services …Read More »
- By Joe Walsh, Founder at Supply Chain Sherpas January 2018 - Healthcare is experiencing profound macro pressures including revenue compression, growing consumerism, rapid provider consolidation, population health strategies, payor-provider integrations and the emergence of many non-traditional disrupters and competitors. Aggressive cost reduction targets inevitably become a large component of a multi-faceted strategic response to these pressures. …Read More »
The Relationship between Artificial Intelligence and Healthcare: Why It’s Complicated and Why Robot Doctors Aren’t Our FutureBy David Lareau, CEO of Medicomp Systems December 2017 - If you use Facebook, you’re likely aware of the option to designate your current relationship status. In addition to mainstream choices such as single, married, and in a relationship, Facebook has a choice called “It’s complicated” – which sounds like a pretty good label for …Read More »
- By Thomas Borzilleri, Founder & CEO of InteliSys Health November 2017 - The rumored $66 billion merger of retail pharmacy CVS and health insurer Aetna holds strong potential to inflict financial pain on American patients by artificially inflating prescription drug prices while reducing transparency and competition. The Aetna-CVS deal is the latest in an ongoing …Read More »
- By Brooke LeVasseur, CEO of AristaMD October 2017 - The U.S. health system today is facing unprecedented demands – from decreasing reimbursements to ever-changing regulations to the transition from fee-for-service reimbursement to value-based care models. Yet, amidst it all, healthcare stakeholders still need to achieve the holy grail of healthcare: higher quality care -- at …Read More »


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A MAN accused of stealing £1million in bitcoins to fund a luxury lifestyle has denied fraud in the first trial of its kind.
Ryan Kennedy, 30, siphoned off a huge sum in digital currency in a “very complex and sophisticated fraud”, say prosecutors.
Bitcoins are a digital currency in which encryption techniques are used to generate and transfer currency[/caption]
Kennedy, who appeared at Bristol crown court via video link from the city’s jail, denies eight charges of fraud, fraudulent trading and money-laundering.
One count of fraud alleges that Kennedy, from Bristol, had falsely claimed to be a “lawyer with a degree from Balliol College, Oxford”. The case follows a three-year probe by investigators.
The hearing which is the first of its kind took place at Bristol Crown Court[/caption]
Defence lawyer Dominic Thomas said: “This is, as far as counsel are aware, the first trial of its kind.”
He said the case was very unusual and would include evidence from as far afield as Finland and America. The trial continues.
What is bitcoin?
Bitcoin is a virtual currency that was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto.
Individual bitcoins are created by computer code, with a maximum number than can exist of just under 21 million.
There are currently around 16 million in circulation.
Transactions are made without middle men, so there are no transaction fees and no need to give your real name.
More businesses are beginning to accept them and in some parts of the world you can even buy pizza with bitcoins.
You can set up a virtual wallet websites like Blockchain to store, keep track and spend your digital money.
You are also able to purchase Bitcoin through an online exchange or Bitcoin ATM.
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On Wednesday, a regional court banned Uber and Uber's low-cost UberPOP service across Germany.
Each new violation of the ban will result in a fine of 250,000 euros, or about $264,825, Reuters reports.
The current ruling relates only to Uber's UberPOP service, its low-cost service in Germany. uberTAXI and UberBLACK will continue operating.
The regional court's ruling is not final, and Uber plans to appeal the ban, according to a spokesperson. In the meantime, UberPOP will continue to operate like usual.
Similar to some US taxi companies, taxi businesses abroad are wary of Uber. Wednesday's ban was brought on by lobbyist group Taxi Deutschland, according to the Financial Times.
"In Germany, taxi drivers are subject to extensive regulations including health checks, fixed fares and liability insurance, which taxi companies say is around eight times more expensive than a standard private driver's insurance," FT reported.
If this story sounds familiar, that's because it is. Uber has been having a hard time in Germany over the past few months.
In September, German courts upheld a ban on Uber. The Berlin and Hamburg courts said the company didn't comply with the country's transportation laws. Uber appealed those bans, which were later overturned on technical grounds.
Another reason Uber may be having a though time in Germany is because Germans are already used to being chauffeured around in nice cars. When you take Uber in the US, you feel like you're upgrading by traveling in a sedan or an SUV that's significantly nicer than a normal yellow taxi. But in Germany, taxis are Mercedes, Business Insider's Matt DeBord points out.
Perhaps to apply pressure to German legislators, Uber released a report this week with German economists on Uber's benefits.
It hasn't been a great day for Uber. On Wednesday, French police raided Uber's offices in Paris, and South Korea charged CEO Travis Kalanick with operating an illegal taxi service.
Uber provided Business Insider with the following statement from Fabien Nestmann, General Manager for Uber in Munich:
“We regret today’s decision by the Frankfurt District Court to deny Uber the opportunity to contribute to improved and more affordable individual mobility.
We respect the German legal system. We will now wait to see the court’s reasoning and review it thoroughly. In our opinion, however, the ban pronounced by the Court represents a fundamental infringement, in particular of our right under European law to establish and provide a service; this is why we have lodged a complaint against Germany with the European Commission. In this regard, we also expect to file an appeal against today's decision.
We will not give up on the German market: our UberBLACK and uberTAXI services remain unaffected by today’s judgment; in addition, we are working on an alternative ridesharing service that we are developing specifically to fit the Court’s interpretation of existing regulations in Germany.
We will continue the dialogue we initiated with German policymakers and regulators and assist them in creating a forward-looking framework for passenger transportation. We would appreciate the opportunity to work together on this with all the parties involved. Within Europe, for example, Belgium is working on new regulations that incorporate new mobility solutions."


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Datamyne’s new quarterly ranking report on the top 20 NVOCCs (non-vessel operating common carriers) in US maritime import trade wraps up 2014 with Expeditors International of Washington (EXDO), Blue Anchor America Line (BANQ), and Christal Lines (CHSL) ranked No. 1, 2 and 3, respectively, by volume. The report ranks NVOCCs by import volumes in TEUs (20-foot equivalent units).
According to Datamyne’s maritime trade data, Expeditors International handled 419,591 TEUs last year, compared with 393,847 TEUs for Blue Anchor (which is the US trade name for Switzerland-based Kuehne+Nagel), and 318,037 TEUs for Christal Lines (part of C.H. Robinson Worldwide).
The NVOCC sector is highly fragmented. The Washington-state-based Expeditors International, which has topped the US import volumes rankings for years, accounted for 6.05% of US import TEUs handled by NVOCCs in 2014. The share for Blue Anchor was 5.68%; for Christal Lines, 4.58%
Any worries that the West Coast ports’ labor dispute and resultant slow downs would dent fourth-quarter business for NVOCCs seem to have been unfounded. In fact, the opposite might be true, with more shippers tapping NVOCCs for help in steering their cargos through troubled waters.
As the Puget Sound Business Journal reported last week, Expeditors moved a record amount of cargo – inbound and out – in November-December, up 9% from the same period in 2013. “We moved more containers than we have in our entire history in the fourth quarter,” Expeditors President and CEO Jeff Musser is quoted, crediting the company’s performance to the people who deliver its customer service. “We provide a much higher level of customer services. You can put everything on computers, but you still need people on the ground to make cargo move.”
The Datamyne NVOCC ranking report includes a breakout of each NVOCC’s TEUs carried by the top three ship lines in US imports: the MSC-Mediterranean, Maersk and Evergreen Lines. The report is issued quarterly. The yearend 2014 report can be downloaded from our free report library, where it is listed under Maritime sector Ranking reports.


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By Alex Olivares
[dropcap]O[/dropcap]nce upon a time, America was down to 44 mainstream breweries. Today, the industry has thousands of members and Orange County’s craft scene is gaining popularity.
A craft beer is any beer manufactured by a small company or microbrewery. These breweries may pump out no more than 6 million barrels a year, cannot be more than 25 percent owned by another company that is not a craft brewer and must use traditional methods of brewing, according to the Brewers Association.
Microbrewing’s popularity emerged in the 1970s. President Jimmy Carter eased regulations, sparking a movement that has yet to slow down. The number of craft brew companies exploded from about eight in 1980 to more than 2,300 in 2012. California has the most microbreweries of any state with about 316 on that list.
In Orange County, there are more than a dozen microbreweries as of this year. These include Bootlegger’s Brewery in Fullerton, The Bruery in Placentia and Valiant Brewing Company in Orange.
“The scene in Orange County is growing and evolving very quickly,” says Greg Gerovac, co-owner of the Anaheim Brewery. “It’s exciting to be in craft beer right now


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New Year starts with important news! Our Sales team will fly to Japan from 15th to 26th January.During this business trip, we will visit the plants of our Customers and also two of the principal exhibition that will take place during our stay.On 17th January, we will be in Osaka visiting the 10th edition of Medical Japan. This event, dedicated to B2B world, hosts important companies of medical and pharmaceutical industry. During the days of the fair, companies and experts will present last medical technologies and the sector trends; visitors and exhibitors will have the possibility to meet during targeted B2B meetings.Japan’s market for medical devices continues to be one of the largest in the world and it is expected to expand in the next years. Among the causes, we can find the age of Japan’s population and the increasing number of patients with chronic diseases. Also COVID-19 pandemic had an important role in this spread because demonstrated the importance of healthcare research in order to have medical products even more innovative and updated.The lasts data published by Japan’s Ministry of Health, Labour and Welfare (MHLW) show that the Japanese market for medical devices in 2021 totalled $40 billion and it is expected a compound annual growth rate (CAGR) of 5,5% in the next 3 years.
Automotive World in Tokyo
From 24th to 26th January, we will visit the 16th edition of Automotive World in Tokyo, one of the most important fairs for automotive sector.Many companies will exhibit and, during fair’s days, different conferences will take place. The main themes of the fair will be the autonomous driving, the e-cars and the developing technologies.The automotive sector in Japan is one of the largest industries in the world and employs over 5.5 million people, about 8% of Japan’s entire workforce.The automotive silicone market is expected to reach USD 3.4 billion by 2028, with a CAGR of 7.3%.Silicone plays a crucial role in automotive sector; this material has different characteristics that allow a greater resistance to ageing, to temperatures and it has high capacity of electrical insulation and mechanical resistance.Thanks to its qualities, silicone for automotive is a necessary material useful for maintaining reliable and efficient electrical systems, reinforcing also car performance.Contact us for more details and to make an appointment with our Business Developer Michael Rivola who will attend both the exhibitions.


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Teijin and General Motors have collaborated in order to develop sophisticated carbon fiber composite technologies for potential bulk usage worldwide in GM trucks, cars and crossovers.
The co-development agreement includes the usage of a quicker and effective method to manufacture carbon fiber composites, known as carbon fiber reinforced thermoplastic technology (CFRTP) developed by Teijin. The carbon fiber composites can be used on mainstream vehicles.
According to Steve Girsky, Vice Chairman of GM, the company’s association with Teijin has enabled altering the manner in which carbon fiber is utilized in the automotive industry. He also felt that this technology is truly revolutionary and shows the dedication of GM in offering innovative solutions.
In order to establish the association, the technical hub of Teijin Composites Application Center will be developed by Teijin. The center will be developed in the early part of 2012 in northern USA. Carbon fiber composites are capable of minimizing the vehicle weight significantly as carbon fiber is more robust than regular-grade steel and yet is only one-fourth of its weight. The proprietary breakthrough of Teijin is its capability of fabricating in bulk, carbon fiber-reinforced thermoplastic components with cycle times less than a minute. Previously used carbon fiber-reinforced composites utilize thermosetting resins and need a very long timeframe for molding. Due to this time factor, carbon fiber use is restricted in high-volume vehicles.
Frost and Sullivan recently awarded Teijin a 2011 Global Automotive Carbon Composites Technology Innovation Award for the technology. Additionally, ICIS Innovation Awards 2011 selected the technology as the winner in the Best Product Innovation category and as the overall winner.
It has become highly essential due to stringent global environment standards and fuel economy regulations that vehicle mass should be considerably reduced by utilizing lightweight materials instead of aluminum or high-tension steel.
Norio Kamei, Teijin’s senior managing director stated that CFRTP technology will definitely play a key role in GM’s plan to introduce carbon fiber components into mainstream vehicles. He believes that the company’s visionary association with GM will enable the use of green composites in the automobile industry.


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Chinese electric-automobile makers Nio Inc. and XPeng Inc. on Monday reported breakthrough revenue figures, albeit from small commencing posts, as buyers expect January car or truck revenue to keep on to exhibit the industry’s resilience by the pandemic.
The EV makers’ gross sales news boosted shares of U.S. vehicle makers, with Tesla Inc. increasing 4% and Ford Motor Co. jumping 6%.
Nio claimed Monday it sent 7,225 automobiles in January, a new regular record for the corporation and a 352% rise from a yr ago. It has delivered 82,866 motor vehicles in complete, it explained.
Nio’s American depositary receipts rose on the news but later on gave again those people gains and traded almost 3% lower. The inventory is up 1,364% in the past 12 months, contrasting with gains of all over 17% for the S&P 500 index in the exact period.
Video clip: Wall Avenue details to a bit lower open up ahead of a slew of earnings (CNBC)
XPeng noted a approximately sixfold maximize in January deliveries, offering 6,015 motor vehicles in January, up 470% from the same interval a calendar year ago. It was also XPeng’s 3rd straight month of record deliveries. XPeng’s stock has soared practically 150% over the past 3 months the company’s ADRs started out buying and selling in August.
For U.S. motor vehicle revenue, analysts at Deutsche Lender, led by Emmanuel Rosner, explained they be expecting annualized sales all around 16.2 million motor vehicles in January, down a little from December’s but previously mentioned November’s, “continuing to display outstanding resilience in gentle of the higher everyday charge of infection from (COVID-19) in the US and ongoing constraints nationwide.”
Retail product sales have been viewed down about 6% in the month, which experienced just one fewer promoting working day this year. Fleet revenue could see a different decrease all-around 30% on ongoing lower day by day rental activity, even even though commercial and authorities fleet profits have proven indicators of advancement, the analysts claimed.
They forecast 2021 U.S. income all-around 15.8 million models, “with upside possible from new government infrastructure paying out or EV incentives.”
Among U.S. makers, Ford is expected to report January sales within the subsequent number of times even though Tesla and Standard Motors Co. will report initially-quarter income in early April. GM last week shocked marketplaces with the intention of phasing out gasoline-run cars and giving only EVs by 2035.


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Chicken chain’s new sandwich on track
Published 8:22 pm Monday, March 24, 2014
On Sunday at the chain’s North Suffolk location, Olympic gold medalist LaTasha Colander Clark became the first Virginian — according to storeowner Dan Curran — to try Chick-fil-A’s new sandwich. And it was clear that at least one person is a fan.
The track star arrived at the store on College Drive toward the end of an employee team-building exercise. (And, just to be clear, the company’s Sunday rule was not broken — the store was closed to the public.)
“Seriously, it’s really good!” Clark said, after the sizeable gathering witnessed her take a bite.
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Clark carefully re-wrapped the sandwich to take home to her husband, not wanting him to miss out on the sneak preview.
Technically, two new sandwiches were rolled out Monday after Sunday’s exclusive savoring in North Suffolk: the grilled chicken sandwich, and the grilled chicken club sandwich.
Both are based on a new piece of equipment upon which the company spent $8 million developing over three years, Curran said.
“Three years ago, Chick-fil-A decided they wanted to come out with their new product … and make it have that backyard flavor,” he said. “We found there was no grill that existed that would do that.”
As he spoke, Curran lined up two columns of marinated chicken fillets on a piece of equipment that looked much more sophisticated than your average propane-fired grill.
“So they partnered with a company and invented this grill,” Curran said. “They are not painting on stripes — it’s the real deal.”
Using just the right amount of heat and pressure, the grill cooks the fillets on both sides in three minutes. “This is our first day to try this,” a delighted Curran added.
Before biting into the new sandwich, Clark spoke to the employees about realizing their potential.
“When you want to go above and beyond, sometimes you have to dig right down deep and see what your skills are,” Clark said.
“I was in your shoes too. Everything you do, I want you to know that you have a purpose.”
Quoting from Proverbs, Clark told the Chick-fil-A staff to place themselves around people who would sharpen them, who in turn would also be sharpened.
“He’s actually taking the steps for me,” she said. “I just have to make sure I position myself in the best place possible to shine the brightest in what I do.”
Back to the new sandwich: with its grilled goodness and whole-wheat bun, Curran said it was the “healthiest sandwich on any menu in any restaurant in the United States.”
“Talking about training,” he told Clark, “it’s the perfect little protein-bomb.”


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Say what you will about the Golden State Warriors being in their 5th NBA Finals in a row. Maybe you love them, maybe you hate them, but on Sunday night they were heroes.
Because the Warriors stole a game on the road against the Toronto Raptors, America gets to "steal" a taco: a Doritos Locos Taco from Taco Bell to be exact.
The Warriors stole Game 2 in the NBA Finals, which means free tacos for everyone June 18. 🌮🎉 (No text required...)
— Taco Bell (@tacobell) June 3, 2019
According to the restaurant, fans can go into their local Taco Bell on June 18 between 2 p.m. and 6 p.m. to redeem the offer. It also says you can steal one any time that day by ordering online or on the app.
Golden State was nice enough to win America a taco last year in the same promotion.
This year, the win tied the series up at 1-1.
The series moves back to California for game 3 Wednesday night at 9 p.m. on ABC.


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Has Apple lived up to its own hype with its new flagship device?
2013 Tech disasters
Not a year passes without tech’s biggest players making fools of themselves at some stage. And 2013 has been no different. We’ve seen some of the world’s biggest mobile makers laid low after disastrous launches; new games consoles suffer opprobrium after new features backfired; and sexist caricatures form a key part of one company’s massive launch event.
We’ve picked out the 10 biggest tech disasters of the year. Click on the first image and see whether you agree.
related stories on msn
latest tech videos
Thousands of people queued outside the store and took part in a 10-second countdown before the doors opened and cheering fans were escorted in by staff.
Date 19/09/14, Duration 0:44, Views 1245


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Thanks to a new deal with Electronic Arts (ERTS), 'Iron' Mike Tyson is coming back to videogames.
Back in the 80's, Mike Tyson's Punch-Out! was one of the most well-known and beloved of all games for that generation's Nintendo console. Of course, that was before allegations of spousal abuse, a conviction for rape, and that unfortunate ear biting incident.
But now 'Iron' Mike is back. EA announced today Mike (along with boxing legend Muhammad Ali) will appear on the cover, and as a playable character, in EA's upcoming Fight Night Round 4.
Smart move: We think gamers will embrace Iron Mike both out of nostalgia for Punch Out! and for their fond memories of his career. Besides, no one in gaming cared when Activision (ATVI) kept up its endorsements from pot-smoking Olympian Michael Phelps.


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The competition watchdog has received more than 3,000 complaints about small business or franchising in the first six months of the year – and is warning SMEs to stay vigilant about watching out for ruthless and illegal behaviour.
The Australian Competition and Consumer Commission’s report on the small business and franchising sectors for January to June 2013 finds misleading advertising or false representations make up the majority of complaints.
The number of complaints about small business increased during the half year, rising from 1471 to 1950. Complaints about franchising fell from 454 to 286.
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The largest catalysts for complaints were misleading conduct and false representations, along with consumer guarantees and unconscionable conduct.
While the complaints vary from sector to sector, including complaints about advertising, supermarkets and computer services, some are experiencing more growth than others – such as online retailing.
ACCC deputy chair Michael Schaper told SmartCompany this morning the online retailing sector remains a key point of interest.
“For us, cracking down on those false claims is important to make sure these businesses have a chance to survive,” he says.
Within franchising, Schaper says, most of the complaints had to deal with false representations. Prospective franchisees were given false information about the type of training and support they would receive.
“Although the overall number of complaints is down for franchising, that’s still the hottest issue they’re facing.”
Schaper says misleading representations remain the most important issue, and this is where the ACCC will spend most of its time.
Recently the watchdog ordered seven suppliers of bottled water to remove the word “organic” from packaging, arguing this was an erroneous term that could have been used to inflate prices.
But this isn’t the only area in which this type of action has been taken. The ACCC has taken action against companies for using the words “free range” and even “freshly baked” in an inaccurate manner.
Schaper says the ACCC will continue to crack down hard on these claims – not only to protect consumers, but also businesses.
“When those false claims are made, it cheapens the other providers,” he says.
“Coming down hard on those claims is important for businesses to make sure they can keep operating.”


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Opry Member Trace Adkins Brings His Marketing Know-How To New Opry Advertising Campaign
Grand Ole Opry member Trace Adkins, whose marketing savvy earned him a Top 2 finish in NBC’s Celebrity Apprentice last year, is using some of that same know-how to assist the Opry, having actively participated as a consultant in the development of the iconic country music brand’s new marketing campaign. Adkins also serves as the voice of the campaign’s television and radio commercials which invite fans to “See The Show That Made Country Music Famous.” The spots launch this week and can be found along with print treatments beginning today at opry.com.
Adkins’ involvement in the campaign, which also features print, online, and outdoor components, included providing assessments to the Opry’s marketing team and advertising agency ranging from specifics about design elements of print ads to broad suggestions about the messaging included in TV spots.
The finished advertising product builds from the theme “The Show That Made Country Music Famous” and features iconic Nashville and Opry imagery, showcasing the connection between the Opry’s rich heritage and today’s superstar Opry members including Adkins, Charlie Daniels, Vince Gill, Martina McBride, Brad Paisley, and Carrie Underwood, among others.
“We’re as proud of Trace’s contributions to this effort as we were to watch him display his marketing skills week after week on national television last year,” said Opry General Manager Pete Fisher.
“Once again, I have been humbled by the folks at the Opry,” says Adkins. “For them to think that I might have anything to contribute to this campaign is something I never dreamed could happen.”
The Opry began working on a new marketing campaign before Adkins filmed Celebrity Apprentice last year, working with Dallas, Texas firm Encircle Marketing on consumer research which led to the “See The Show That Made Country Music Famous” idea. “Country music fans told us they love the Opry and want it to claim its rightful place as an undeniable force which has shaped country music for generations and continues to shape country music today,” said Encircle’s Gerald Mann.
Clint Black, another member of the Opry, is set to appear on this year’s installment of Celebrity Apprentice beginning next month.
Among those appearing soon at the Opry are Vince Gill, Lady Antebellum, Ricky Skaggs, Josh Turner, and Carrie Underwood. The Grand Ole Opry® is presented by Cracker Barrel Old Country Store®. Opry performances are held every weekend of the year, and the Tuesday Night Opry returns March 3. Opry Country Classics debuts on Thursday nights beginning March 26. To plan an Opry visit, call (800) SEE-OPRY or log on to www.opry.com.
Six Strings & a Dream TV Spot:
The Opry Circle TV Spot:
Nashville Road Sign TV Spot:


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Good news for T-Mobile USA Samsung Galaxy S3 owners this morning, as it seems a new over-the-air update for the device brings it up to Android 4.1 Jelly Bean. Numerous sources are reporting that the new software, version T999UVDLJA is rolling out to Tmo Galaxy S3 phones right now. Today's T-Mobile update follows Sprint's Galaxy S3 Jelly Bean roll-out a couple of weeks back.
If it's anything like that update, T-Mobile S3 owners should gain access to new TouchWiz features like Blocking Mode and new AllShare Cast sharing options in the new firmware, as well as standard Jelly Bean features like "Project Butter" performance enhancements and Google Now predictive search features.
If you're seeing the Jelly Bean update land on your Tmo Galaxy S3 this morning, shout out in the comments and let us know how you're getting on.
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Alex was with Android Central for over a decade, producing written and video content for the site, and served as global Executive Editor from 2016 to 2022.


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Nokia 3, 5 and 6 – Release and Prices – The Nokia Smartphones Nokia 3, Nokia 5 and Nokia 6 are the first Android devices that HMD Global, the licensing partner, had already introduced with the Nokia logo. Now HMD Global has announced the release dates and also the prices for Germany.
Nokia 3.5 and 6: Release and Pricing
In addition to the new edition of the cult mobile phone Nokia 3310, HDM Global had presented three Android smartphones, the Nokia 3, Nokia 5 and Nokia 6, already at this year’s Mobile World Congress.
Unclear until now was a date and the prices for Germany. The Finnish manufacturer HMD Global has just released the release dates and also the prizes. Compared to previous rumors, the models are slightly more expensive than expected.
Pre-orders already possible
From the 27th calendar week, therefore, in the coming days, the Nokia 3 is to be available here in the colors copper-white, silver-white, black and blue. The UVP price is just under 160 euros. For the Nokia 5, HMD Global calls a price of 209.90 euros and for the Nokia 6 the price is 249.90 euros. Both smartphones start selling at the end of July.
All models offer an aluminum case and have Android 7.0 nougat preinstalled. HMD Global had already said in advance that the Nokia models will also receive an update on Android 8. Mobilcom-Debitel and o2 have already started the sale. Mobilcom-Debitel is currently offering a price of 199.00 Euro for the Nokia 5 with 16 GB memory and calls “Online soon available”. The network operator o2 offers a free loudspeaker from JBL to the Nokia 5 and a delivery date of 17 to 21 July. Without a contract, all three models are likely to be available in the media market, Saturn, Amazon, Notebooksbilliger, Cyberport and Expert.


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Lending a Helping Hand
Stock Market Analysis Video
In Case You Missed It
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I don’t know about you, but I’ve felt pretty helpless this week watching events unfold in Japan. First a massive earthquake hit the country, then a huge tsunami and finally, a major nuclear disaster. Death tolls are still rising and will continue to increase for weeks, if not months. And the clean up will take months, if not years.
But many people have been doing what they can to help the Japanese people. Specifically, several companies sprang into action this week, with many putting their specialties to good use.
Aflac (AFL), which has 5,000 employees in Japan, pledged $1.2 million to the Red Cross. The company also made headlines this week for firing the comic Gilbert Gottfried, the voice of the company’s mascot, for publishing insulting remarks on Twitter about the disaster.
Amgen (AMGN) and McDonald’s (MCD) have each donated at least $1 million to the disaster relief efforts.
Apple (AAPL) is allowing users to donate up to $200 at a time through its iTunes store. And the company is using its Japan stores as communications hubs for people searching for family and friends or looking to read news about the events. The staff provided chargers and power cables and left the wireless connection on after the stores closed so people walking by could take advantage of the signal.
Caterpillar (CAT) offered a $1 million grant through its Caterpillar Foundation to the American Red Cross to help clean up. The company also offered to match up to $500,000 in Caterpillar employee, retiree and dealer employee contributions made to the Red Cross. Additionally, the branch of Caterpillar based in Japan has provided $1 million, mostly consisting of in-kind equipment donations.
Coca-Cola (KO) has provided $7.3 million in cash and other donations, including seven million bottled beverages and activating some of its dispensing machines to provide drinks for free.
EBay (EBAY) is hosting auctions that give some or all of the proceeds to aid agencies helping in Japan. And for the next month, the company’s PayPal division is crediting transactional fees to qualified American and Canadian nonprofits that are raising funds to aid in the disaster response.
Google (GOOG) used its computing and Internet prowess to set up a “person finder” database that can be used in several languages, including Japanese, English and Chinese, among others. People can use the database to look for a missing person or to add any information they have about someone affected by the disaster.
The online search giant has also created a service that allows people to take photos of the lists of people stationed at their location that is automatically uploaded into an online photo album. The names are being entered into a database where people can search for names of people who might have been affected.
And recognizing that not everyone has a smart phone, Google made some tweaks to its mobile website to make it easier for everyone to view.
IBM (IBM) is donating up to $1 million in services and technology to the recovery efforts in Japan.
In addition to offering $2 million to help in the clean up, Microsoft (MSFT), offered its partners and customers affected by the disaster free technical support and software licenses. The company also created a Web portal that governments, nongovernmental organizations and other agencies can use to talk to each other and the general public.
Obviously there are many more companies aiding in the relief effort, but these have one thing in common: They are all Cabot Benjamin Graham Value Letter stocks. Helping with the disaster in Japan isn’t why these companies are good investments, but it is nice to see them using their money and specialties to help those in need.
Learn more about them and other top value stocks featured in Cabot Benjamin Graham Value Letter.
In this week’s Stock Market Analysis Video, Cabot China & Emerging Markets Report Editor Paul Goodwin says It hasn’t been a great week in the stock market, but there have been some signs of support. The market was down sharply early in the week on significant volume, so the rebounds later in the week were welcome, but not entirely convincing. Paul says that after a six-month run up, there’s like more correction to come. Stocks discussed are Acme Packet (APKT), Aruba Networks (ARUN), SuccessFactors (SFSF), Lululemon Athletica (LULU), Timberland (TBL), Oplink Communications (OPLK) and Spreadtrum Communications (SPRD). Click to watch the video.
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The shocking answer could make you 50% richer or 50% poorer, depending on what you do now! Make no mistake about it—the bull market is entering a dangerous new phase. One that will soon affect all the stocks you own.
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In case you didn’t get a chance to read all the issues of Cabot Wealth Advisory this week and want to catch up on any investing and stock tips you might have missed, there are links below to each issue.
On Monday, Roy Ward discussed the history of transportation in the United States. Roy also recommended a company that is one of the world’s largest lessors of intermodal containers and chassis. Featured stock: TAL International Group (TAL).
On Tuesday, we heard from StreetAuthority’s Nathan Slaughter about two rare metals: platinum and palladium that are likely to be even more in demand in the future. He also discussed two ways to play the metals. Featured investments: ETF Securities Physical Palladium (PALL) and ETF Securities Physical Platinum (PPLT).
On Thursday, Brendan Coffey discussed why biofuels are growing in importance as we seek out new sources of energy. Brendan recommended a stock that will benefit from that rising demand. Featured stock: Codexis (CDXS).
Until next time,
Editor of Cabot Wealth Advisory


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It’s been known for a long time that certain fish species are and have been heavily over-fished. Greenpeace is asking the question to whether your local (US) grocery store is helping to “empty the ocean?“. We have previously written about the trials of being a fish, and the Conserve Our Oceans Legacy campaign, which is along the same lines, but Greenpeace are trying to quantify the impact of grocery stores.
The Greenpeace website has an easy-to-read guide to red listed fish and a comprehensive grocery store report card where you can see how your local supermarket performs. US consumes spend around $16 billion on seafood per year, and half that is in supermarkets. See how your local grocery performs here.


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The Supreme Vegan Pie Awards has been established in 2018 to showcase some of the amazing vegan pies that New Zealand has to offer. Plant-based vegan food has exploded to take centre stage in many New Zealand eateries due to its lower impact on the environment, and its benefits to both human health and animal welfare. Increasingly, vegan food is appreciated in its own right, for using healthy, tasty, clean ingredients, combined in innovative ways. New Zealand’s inaugural vegan pie competition is both cutting edge and classically Kiwi!
We would like to introduce the ‘Commercial Category’ to this year’s competition, to create a more level playing field for companies that don’t produce one off or handmade pies. We are very excited to be able to reflect this growth in the competition and in the market.
Judging will take place at The Butcher's Son for World Vegan Day, Monday 2nd November, at 12 noon.
The Awards Ceremony takes place at 6.30pm, also at The Butcher's Son. Members of the public are invited to join us for an exciting night of pies, pies and more pies! Come along and find out who are the winners.
Industry experts Aaron Pucci, a Master Chef with 23 years of experience and Brad Jacobs, Co Director of the Coffee Club join Emmett Skilton, vegan actor and screen writer to judge this year's entries. The Gluten Free category will be judged by Megan May, owner of Little Bird Cafe in Auckland.
Emmett Skilton, vegan actor and screen writer
Brad Jacobs, Co Director of the Coffee Club
Pies will be judged for excellence in taste, appearance, texture, pastry qualities and even glaze.
Conditions of Entry:
$20 per pie entry


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The IAMAI (Internet and Mobile Association of India) has made it clear to dismantle the BACC (Blockchain and Crypto Assets Council), which was created to represent cryptocurrency exchanges before authorities such as RBI (Reserve Bank of India) and other main government departments. As per two sources, IAMAI decided to distance itself from crypto.
When did the discussion of dismantling BACC start?
When is the decision finalized?
What is BACC?
An industry body – BACC served as a protection entity for over a dozen blockchain and cryptocurrency firms to liaison with the government and show their interests.
What is IAMAI?
Founded in 2004, IAMAI is a lobbying group that displays the interests of the virtual services industry and has more than 400 multinational and national corporations as its members. Digital payments, online gaming, fintech, edtech, and digital commerce are some of the sectors it represents.
What was the purpose of BACC?
BACC served as a self-regulatory body for the cryptocurrency industry which still falls under a legal gray area. Among other things, the body introduced a standard code of conduct for all cryptocurrency platforms to follow, which was expected to be modified to avoid run-ins with the regulators.


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|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||175.60 - 175.60|
|52-week range||175.60 - 175.60|
|Beta (5Y monthly)||0.95|
|PE ratio (TTM)||54.55|
|Earnings date||26 Jan 2022|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The stock market seemed to get itself back on a more even keel on Thursday morning, seeking to reach some level of stability following massive movements earlier in the week and throughout the month of January. As of 8:15 a.m. ET, futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were up a bit more than half a percent, leading other major market benchmarks higher. Two of the biggest gainers were Xilinx (NASDAQ: XLNX) and Seagate Technology (NASDAQ: STX), both of which have strong ties to the tech industry.
(Bloomberg) -- Chinese regulators have granted approval for Advanced Micro Devices Inc. to buy Xilinx Inc., clearing the way for one of the largest deals to emerge from the global semiconductor industry.Most Read from BloombergApple to Rival Square by Turning iPhones Into Payment TerminalsPowell Backs March Liftoff, Won’t Rule Out Hike Every MeetingA Nor’easter Approaching New York Risks Becoming a Bomb CycloneStocks Halt Rally as Bond Yields Spike After Fed: Markets WrapAstronomers Spot Never-B
SHANGHAI (Reuters) -China's market regulator has conditionally approved semiconductor group Advanced Micro Devices Inc's $35 billion all-stock deal for peer Xilinx, it said on Thursday. The regulatory approval from Beijing brings the purchase, which was first announced in October 2020, closer to completion. In a public notice, China's State Administration for Market Regulation said it will approve the deal on condition that AMD and Xilinx do not force tie-in sales of products or discriminate against customers that buy one set of products but not another.


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Tesla Shifts into High Gear: Prelude to a Crash?
Last week, shares of electric vehicle manufacturer Tesla (NSDQ: TSLA) jumped 36% in just two days. And that was after it had already gained 55% during the preceding month!
Below, I’ll discuss some of the reasons for Tesla’s meteoric rise and suggest a trading strategy that is considerably less risky than attempting to guess which way the stock will turn next.
You might assume that Tesla had become the target of a hostile takeover attempt, but that was not the case. In fact, there was no specific news at all to explain Tesla’s sudden rise in popularity other than a solid quarterly report released the week prior.
For that reason, some analysts opined that Tesla’s rise was probably due to short-sellers covering their positions. Tesla has long been a popular stock with short sellers due to its inability to meet sales and profitability goals.
The company’s enigmatic founder, Elon Musk, regularly makes promises that he can’t keep. Regardless, Musk enjoys a cult-like following among his adherents who are willing to forgive his frequent transgressions.
Another explanation offered is the increasing emphasis on ESG investing. ESG stands for environmental, social, and governance, which used to be referred to as socially responsible investing. Tesla’s battery-powered vehicle has become the poster child for the ESG movement since its vehicles consume no gasoline.
There may be some credence to that theory. In a letter to shareholders last month, BlackRock (NYSE: BLK) CEO Larry Fink identified climate change as a point of emphasis. “Climate risk is investment risk” Fink stated, and “has become a defining factor in companies’ long term prospects.”
BlackRock manages $7 trillion in assets. If the portfolio managers at BlackRock have started adding Tesla to their portfolios then that would certainly drive its share price higher.
Also read: “BlackRock Profits from Ideal Environment“
Shades of Bitcoin
Of course, portfolio managers know better than to pile into the same stock at the same time. That has the undesirable effect of driving its share price considerably higher, reducing the opportunity for future gains.
To me, Tesla’s sudden surge has the appearance of a speculative bubble driven by irrational exuberance. In fact, Tesla’s recent share price behavior is strikingly similar to how Bitcoin (BTC) traded three years ago.
Bitcoin began 2017 trading below $1,000. Later that year, it soared above $20,000 as investors piled into the faddish cryptocurrency. Some analysts predicted that bitcoin would soon be selling for $50,000.
That didn’t happen. Twelve months later, Bitcoin was back below $4,000. Investors that bought bitcoin at its peak lost 80% of their money in less than a year.
I think something similar will happen to Tesla. The problem is, there is no way of knowing exactly when that might happen.
Already, short-sellers that believed Tesla was grossly overvalued at $500 have taken a bath. As Bitcoin proved, in the short run there is no explaining how long a speculative wave can keep rolling.
There is also no limit to the mental gymnastics some Wall Street analysts will go to in justifying a higher share price for Tesla. One analyst noted that at a share price of $900, Tesla was only trading at 30 times estimated earnings in the year 2024.
There are two major problems with that reasoning. First, it doesn’t account for the time value of money. A dollar four years from now is worth less than a dollar today due to inflation. Second, it assumes that Tesla’s sales and profit margin can be accurately predicted over the next four years.
First Movers Sometimes Finish Last
If Elon Musk has proven anything, it’s that there is no way of telling what he may do tomorrow, much less several years into the future. In 2018, Musk famously lit up a joint while being interviewed on a podcast.
Granted, Tesla has an early lead in the electric vehicle market. However, an early lead does not always result in victory. Fifteen years ago, the Blackberry (NYSE: BB) smartphone was all the rage.
That is, until Apple (NSDQ: AAPL) introduced its iPhone in 2007 and went on to dominate that market ever since. In 2008, shares of Blackberry traded above $140. Today, those same shares can be had for $6.
We can be sure that the executives at Ford (NYSE: F), General Motors (NYSE: GM), and Fiat Chrysler (NYSE: FCAU) are not sitting on their hands. In fact, later this year Ford will begin delivering an electric version of its popular Mustang model that has already sold out.
For that reason, I believe it is only a matter of time until Tesla comes crashing back down to earth. The problem is, so do a lot of other people.
Normally, I’d suggest buying a put option on Tesla rather than shorting the stock. However, the implied volatility on put options expiring in six months is 75%. That means you’d have to pay a huge premium to buy those options.
Here’s another way to bet on a big drop on Tesla that won’t break the bank. Instead of shorting TSLA, sell short the First Trust NASDAQ Global Auto Index Fund (CARZ).
Tesla is the biggest holding in the fund, comprising roughly 10% of the total portfolio. If TSLA tanks, the entire sector will probably sell off in sympathy.
You won’t get as big a move in the fund as you would the stock. However, the risk of being wrong is considerably less. Let’s face it, the automobile sector isn’t exactly hot. If not for Tesla’s recent spike in value, CARZ would have posted a negative return over the past year.
The stock market does not assign the same earnings multiple to the “Big Three” automakers that it does to Tesla. In fact, most auto stocks trade at a considerably lower multiple than the S&P 500 Index. When Tesla soared above $800 last week, it was valued at more than 60 times forward earnings. On average, the Big Three automakers are valued at 90% less than that.
That means a big drop in TSLA will not be offset by an equal rise in its competitors. I don’t see much downside risk in this trade, and the gain could be considerable. Only six months ago, CARZ was trading near $29, which is 17% below its recent share price. If Tesla hits the skids, my guess is that CARZ will drop below that level and then some.
Even if that happens, there are much easier ways to make money in the stock market than waiting for Tesla to finally get its comeuppance. And one of them is to follow the advice of my colleague, Jim Fink.
Jim Fink is the chief investment strategist of Options for Income, Velocity Trader, and Jim Fink’s Inner Circle.
Jim Fink’s proprietary trading methods have been proven to generate profits in bull or bear markets, in good economic times or bad.
Over the past 50 months, Jim’s trades have racked up a “win rate” of 84.68%. That’s unheard of for most investors, in any asset class.
In fact, Marketocracy, a company that audits the performance of top investors, says that “a winning percentage of 66% would be excellent and would rank among our best investors.” Jim’s win rate is well above that figure of excellence.
Want to learn the details of Jim’s next trades? Click here now.


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Apple has won its legal fight to make three bloggers reveal who told them about unreleased products.
California laws protect trade secrets, rules judge
The bid to unmask the employees leaking information was launched in December 2004 following online articles about Apple's Asteroid product.
Now Apple has won the right to see e-mail records from the three bloggers to root out the culprit.
A lawyer for the three bloggers said the ruling set a dangerous precedent that could harm all news reporters.
Apple's lawsuit accused anonymous people of stealing trade secrets about the Asteroid music product and leaking them to the PowerPage, Apple Insider and Think Secret websites.
All three are Apple fan sites that obsessively watch the iconic firm for information about future products.
Apple is notoriously secretive about upcoming products which gives any snippets of information about what it is working on all the more value.
The lawsuit to reveal the names of the leakers was filed against the Power Page and Apple Insider sites.
The separate legal fight with Think Secret has yet to be resolved.
In the ruling handed down this week by Santa Clara County Superior Court Judge James Kleinberg, Apple can now get its hands on e-mail records from the bloggers' net providers.
In making his ruling, Judge Kleinberg said that laws covering the divulging of trade secrets outweighed considerations of public interest.
California has so-called "shield" laws which protect journalists from prosecution if what they are writing about can be shown to be in the public interest.
The Judge wrote: "...it is not surprising that hundreds of thousands of 'hits' on a website about Apple have and will happen. But an interested public is not the same as the public interest".
Judge Kleinberg said the question of whether the bloggers were journalists or not did not apply because laws governing the right to keep trade secrets confidential covered journalists, too.
The Electronic Frontier Foundation, which is acting as legal counsel for Power Page and Apple Insider, said the ruling had potentially wide implications.
"Anyone who reports on companies or the trade press should be concerned about this ruling," said EFF lawyer Kurt Opsahl.
Mr Opsahl said the EFF was planning to appeal against the ruling because the bloggers were journalists and US federal laws stop net firms handing over copies of e-mail messages if the owner of that account does not give their consent.