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The country's largest meat company has banned sheepdogs from its meatworks because of concerns about animal welfare and meat quality.
Silver Fern Farms chairperson Eoin Garden says the company will phase out the use of dogs in its meatworks yards in the coming year, relying instead on shepherds to shift the stock.
Mr Garden says there's a body of evidence that undue stress on animals can affect the quality and tenderness of meat.
But Federated Farmers animal welfare spokesperson Lachlan McKenzie doubts that. He says he accepts that the company has made a commercial decision but doubts whether it will have a significant impact on the sheep.


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Man Jose Kayima
The people of Uganda have been named as the biggest pork consumers in Africa and second globally.
According to the Daily Monitor Uganda’s big appetite for pork was disclosed by the International Livestock Research Institute (ILRI).
On average one Ugandan eats 3.5 Kgs of Pork annually, the East African nation the biggest pork consumer in Africa and coming in second globally after China.
1.1million households in Uganda rear pigs while 3.5 million small-scale farmers depending on pig rearing for their income and million others are employed in the value chain.
Although there the demand and supply of pig is huge and growing the pigs in Uganda have poor weight gain and growth due to potential feed according to the research.
ILRI is advocating the farmers in the country to start feeding the pigs, potato vines in overcoming the poor quality of the pigs and the high cost of feeds, which in turn will translate to cheaper pork since a kilo currently costs almost three dollars (10,000 Ugandan shillings).

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The early days of January remind me of that hazy feeling you get right after the summer break; you know your brain needs to be working at full speed, buuuut you just can't quite get there…
I guess we’ll find out how awake everyone is on the first 200-point down market movement.
In fact, just typing that out makes me realize how long it’s been since the market ink ran that red.
And boy do we need it, especially as this first short stretch of the New Year has thus far lit up only green lights.
Seeing Into the Future
I enjoy the year-end projection game.
The inflation theme landed big over the holidays - Barron's, CNBC, Bloomberg…
In short, it’s being suggested that full jobs markets, surging service sectors and rising industrial activity will result in the arrival of our long-lost inflationary pressure.
Well, if that’s the basis for this conclusion don’t you think it should have already got here?
Think about it. Technology is collapsing multiple channels of cost. And just when the experts tell us we’ve reached the limit that line in the sand disappears.
And in sync with the slow and steady integration of Generation Y into the work-force we should continue to see lighter than expected inflation.
Folks, Generation Y is a very deflationary force – they’re all tech-savvy, seamless, short-cut driven and dine on efficiencies and cutting out waste.
And while inflation will certainly show up somewhere and in steady doses during certain parts of the year, it won’t be anywhere near the ballistic levels suggested.
In perspective, if we US interest rates rising from 2.40% to say, 3.75%, would that really be the end of the world? Likewise, getting to 2.50% inflation is a good thing, not a bad one.
The latest data shows manufacturing ended the year on a nice uptrend, along with the PMIs:
PMI Manufacturing Signals Strongest Manufacturing Growth Since March 2015
- U.S. PMI Manufacturing Index 55.1 vs. 55 consensus, 53.9 prrior
The latest Chicago PMI showed compelling strength going into 2018 as well. While similar to the national ISM Manufacturing indicator, the Chicago Purchasing Manager's Index looks at a more regional level of activity.
It’s also seen by many as representative of the larger US economy, comprising a myriad of important elements, like; production, new orders, order backlogs, employment, and supplier deliveries compiled through surveys.
Note below that values above 50.0 indicate expanding manufacturing activity, and that the latest Chicago PMI for December rose to a value of 67.6 from 63.9 in November.
That’s a tad higher than forecast - with experts coming in at a forecast of 62.0.
"Sentiment among businesses started 2017 in good shape and only impressed more as the year progressed. December's result secured the MNI Chicago Business Barometer's first full year of expansion since 2014, and with New Orders ending the quarter in fine shape there is every chance this form could be carried over into 2018."
That's pretty positive.
The above shows data from way back in the 1970s, when the US economy was $2-3 Trillion and not $20 Trillion plus.
And there’s a hidden item of interest here.
Note that the grey recession periods tend to come after extended periods of weakening PMI readings.
We’re nowhere close to that in our current numbers.
So relax and pray for that correction to start the year off with a, well, bang.
The Bigger Picture?
The Holiday Season chatter about the death of retail became a very good contrarian indicator.
MasterCard (NYSE:MA) reported that its credit card sales between November 1 and December 24 rose 4.9% compared to a year ago, the fastest annual pace since 2011.
And in America, December 26 was revealed as the fourth strongest shopping day of the year, as many retailers offered post-holiday discounts that re-energized shoppers.
As 2018 dawns, with nearly 80% of US taxpayers having less tax withholding going forward, we can likely expect a continued, healthy consumer confidence reading as well.
Back to Inflation...
Most of the recent chatter about inflation has been focused on the slow pick-up in crude oil.
Demand is growing as synchronized global expansion spreads.
Remember back in early 2016, while the world was panicking over $30 per barrel oil we suggested "the new range for crude likely falls in the $40-$80 price band" which at the time seemed very profitable for technology in the drilling fields, and for reasonable costs at the pump.
We still suspect that range will hold true for years to come.
The recent price rise has merely perked up the inflation indicators, and as that trickles into the numbers we can expect a rippling effect, followed by cost cutting efficiencies elsewhere that drive those pressures back down.
Competition is fierce on all fronts. That won't change with the New Year.
But the bigger point here is that all those experts telling us how the rising dollar was going to pinch margins and hurt earnings missed (again). The dollar did not strengthen after all.
Ya gotta love it when a bunch of experts all come to the same conclusion.
Make no mistake folks, the rare US Barbell Economy is upon us and is set to unfold for the next 30 plus years.
Of course, there will be lots of stops along the way up this mountain where it will feel like the world is ending.
Just keep in mind that long-term thinking always wins out over short-term trading, and worrying about the next setback may sell lots of adverts but it won’t do anything for you.


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Over the past 40 years we have witnessed exponential growth of the integration of technology into our lives, computing efficiency, AI development.
Some see it as a threat to the autonomy of the human beings, some see it as an important change in our lives in order to reach “our ultimate selves”.
In March the foreign affairs columnist for the New York Times - Thomas Friedman held a talk in Chicago discussing his newest book “Thank You For Being Late: An Optimist’s Guide to Thriving in the Age of Acceleration.” Throughout the book Friedman talks about the dangers of technology, the increase in global warming and the straining of geopolitical tensions due to globalization. Friedman supports the idea of people slowing down and confronting existing obsessions with technology. There is no point in catching up with technology, this will only make it stronger.
Friedman represents one side of the “technology progress” debate, concerned with the speed with which technology is entering our lives.
Future Tech Lab on the other hand, believes in the need to bridge fashion and science to create a sustainable future. Miroslava Duma, founder and CEO of FTL, recently talked about the need to create luxurious wearables: “What we are talking about is wearable tech: algorithms and microscopes embedded in fibres and fabrics that can solve a lot of problems the iPhone does. In the future you will wear the technology, and it will do the same things for you”.


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Need ideas for your weekend plans? Check out what’s happening in Boone County this weekend!
Thursday, August 9
- Small business owners and entrepreneurs are invited to join the Boone County Economic Development Corporation for Business and Brewskies from 6-8 p.m. at zWORKS on Pine in Zionsville.
- Check out the Whitestown Farmers Market from 4-7 p.m.
Friday, August 10
- Head to downtown Lebanon for the Lebanon City Market Friday from 4-7 p.m.
- The Black Box Theater in Lebanon is hosting a re-opening and open house at their new location (392 N Mount Zion Road). See their new space from 7-9 p.m.
- Hickory Hall Polo Club in Whitestown is hosting Polo at Sunset. Gates open at 5 p.m and admission is $20 per carload.
- Zionsville is celebrating S’mores Day with a campfire. Register and vote for your favorite s’more on the Facebook page, then stop by the Zion Nature Center at 7 p.m. to taste the winners.
Saturday, August 11
- Swing by the Zionsville Farmers Market from 8-11 a.m. for live music, food vendors, giveaways and prizes to celebrate National Farmers Market Week.
- Stop by the Whitestown Farmers Market from 9 a.m.-1 p.m. at the Whitestown Municipal Complex.
- The 2018 Indy British Motor Day will be held at Zionsville Lions Park. The event start at 10 a.m.
- Jamestown is hosting a Farmers Market from 11 a.m.-2 p.m. in the downtown park.
- Head over to the Whitestown Municipal Complex for a free family movie night. Arrive at 5 p.m. to decorate your own cardboard Jeep. The movie Jumanji Welcome to the Jungle starts at 7 p.m. Popcorn and water will be provided.
- Catch live music from David and Pamela Ackerman at Books & Brews in Zionsville from 8-10 p.m.
Sunday, Aug 12
- The Whitestown American Legion is hosting a Family Fun Day from 1-6 p.m. All proceeds will benefit the American Legion Family.


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America Online Inc. yesterday agreed to buy Weblogs Inc., the publisher of 85 freelance online sites about cars, movies, parenting, travel and other subjects, the latest move by the Dulles-based Internet service to increase the size of its audience and profit from ads.
Officials of both companies declined to comment on the record about the price. A source familiar with the deal, who spoke on condition of anonymity because of the transaction's confidential terms, said that the base price was $15 million and that AOL could end up paying as much as $25 million if Weblogs hits every performance target in the future.
Weblogs' most popular site is Engadget, which covers technology and is ranked as the third most popular blog by the Technorati rating service. AOL officials said the blogs, written by individuals and with comments from other Internet users, will continue to be published at their existing Web addresses while also being integrated with other America Online content.
In making its third acquisition since August, the Dulles-based Internet service said it was seeking to offer segments of its subscriber base, which numbers more than 20 million, more detailed information about dozens of subjects, in addition to the programming it aims at larger audiences.
AOL earlier purchased Wildseed Ltd., a company that offers services for wireless devices, and Xdrive Inc., an online storage provider, as part of a strategy to branch out from its declining business of dial-up Internet subscribers.
AOL officials also said they will allow Weblogs to retain complete editorial control and independence, a factor that entrepreneur Jason McCabe Calacanis, a co-founder of the two-year-old company, said in an interview was important to him.
"What makes this work is unfiltered citizens' content," Calacanis said of Weblogs. "My key question to America Online was, 'Guys, you understand this is unfiltered and that is what makes this special?' Traditional media companies are nervous about comments or opinions without editing. You don't have that in this business. It is people talking to each other."
AOL executive vice president James P. Bankoff said in an interview that AOL would benefit by providing more advertisers and a bigger audience for Weblogs' content. He said it will take a hands-off approach to the editorial content on Weblogs, citing the way AOL has allowed Baltimore-based Advertising.com, which it acquired last year, to operate as an autonomous unit. He also said the acquisition would enable AOL to increase its audience and provide opportunities for advertisers interested in reaching niche markets online.
Analysts had mixed reactions to the announcement of the deal. B.L. Ochman, a corporate blog consultant and publisher of Whatsnextblog.com, said the deal could begin the process of making some blogs more mainstream.
"This is pretty exciting news," she said in an interview. "AOL has bought some well-known blogs and can make a big bang in the blogosphere. AOL has been dangling, not knowing what it was going to be, and they are trying to get hipper. If they play this well, they will be a big player in the blog space soon."
Nick Denton, publisher of Gawker.com, a rival blog publisher, criticized the transaction. "The whole point about blogs is that they're not part of big media," he wrote on his site. "Consolidation defeats the purpose. It's way too early. Like a decade too early."


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SMI Hopes to Save Lives with New Defibrillator
A Telford manufacturing company has invested in a new outdoor defibrillator which it hopes will make a life-saving difference to the local community.
Cold Chain Federation member Seymour Manufacturing International Limited (SMI) says it was motivated by distressing scenes at the Euro 2020 football tournament, when Denmark star Christian Eriksen collapsed in front of live TV cameras.
A defibrillator, which delivers a high-energy electric shock to the heart, was used as part of the emergency treatment on the pitch that is credited with saving the footballer’s life.
SMI director Jill Seymour said: “Those powerful scenes brought into graphic focus just how important it is to be able to act swiftly in instances like this.
“Fast use of a defibrillator can increase a patient’s survival rates by up to 70% – yet there are relatively few public defibrillators in Telford, in comparison with the town’s growing population. I would like encourage others to consider having one installed.
“We are right in the heart of the Stafford Park Industrial estate, where thousands of people are employed, and felt that this small gesture on our part was the least we could do.
“After all, what’s the cost of a defibrillator if one day it is able to save somebody’s life?”
Lloyds Electrical Design Limited, from Old Park in Telford, also stepped forward to install the defibrillator at SMI’s premises, free of charge.
The SMI defibrillator is now registered with the local ambulance service and the National Defibrillator Database so it can be easily found in an emergency.
SMI is a specialist in thermal protection and insulation products, and works with blue-chip brands, including retailers Waitrose, Morrisons, ASDA, Sainsbury’s, Marks & Spencer, The Co-operative, and Lidl.
It also supplies the NHS, the Ministry of Defence, logistics industry and pharmaceuticals companies.


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Apple is putting some portion of its $100 billion bank account to work, with the Wall Street Journal and other sources reporting Apple has acquired iOS App Store search tool Chomp for an undisclosed price. As usual, Apple has had nothing to say about the acquisition: an Apple spokesperson has confirmed only that it occasionally buys other companies, and does not usually discuss its intentions or plans. Bloomberg reports Apple is paying about $50 million to acquire the firm.
Chomp is an interactive tool that enables users to search for apps not just buy their names or keywords, but also by “functions and topics” of applications, enabling users to search for applications using general descriptions. Based in San Francisco, Chomp has raised about $2.5 million in venture funding, and counts celebrity Ashton Kutcher as a “marketing advisor.”
As Apple nears the sale of its 25 billionth app from its App Store, the acquisition suggests Apple is looking for ways to make the 550,000 apps in its app store more easily searchable and discoverable. Apple’s existing App Store search feature is very bare-bones, and third-party developers have often complained it can be nearly impossible for users to find their apps in the store unless the programs are featured by Apple.
Chomp also operates an app search service for the Android Market, which helps drive Verizon’s own app search service on selected Android devices. There’s no indication whether Apple will keep that service (and app) available once the acquisition is complete.


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Digiday digest: The Atlantic’s redesign win, Under Armour’s dominance and Cosmo on Snapchat
It’s Friday, so we’ve recapped the best of Digiday reporting from the week just as you head into happy hour.
Turns out it’s true: less is more. The Atlantic’s new redesign gave people less content to click on, but they stayed with it longer: The click through rate tripled and people now spend four minutes or more on native ads.
Meanwhile, across the pond, The New York Times is opening a native ad division in London. So far there are four permanent staffers on the ground compared to the 45 member team back in New York. The studio is going after European and Asian markets.
Watch out, Adidas and Nike: Under Armour is growing at a faster pace than both and will become the third biggest sportswear brand in the world in the next decade. How? By focusing on women, appealing to a younger demo, and winning on social.
Speaking of winning on social, Cosmo is killing it on Snapchat, averaging 3 million viewers a day, up from 1.8 million since the summer. Advertisers want in on this too, but for now you can only share editorial videos.
More in Media
Year two of Possible is once again being held in Miami Beach, and it will take place from April 15-17 with 3,000 attendees expected to listen to another 200 or so speakers, including Snap’s Colleen DeCourcy, Uber Ads’ Megan Ramm and UM Worldwide’s Matthew Smith.
Last week, tech companies like Google, Microsoft and Amazon all announced updates more updates for their cloud and AI efforts
At least 21 different sessions across the three days that Possible takes place — all in the halls of the Fontainebleau Miami Beach hotel— feature the capital letters AI In their headlines. And the topic will be pretty inescapable in most of the conversations that take place onstage or around the event.


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Kings of the ice cream world, and of doing business differently, Ben and Jerry's have announced they are working on vegan ice cream flavours.
FARM (Farm Animal Rights Movement) - a charity organisation that works to end the use of animals in farming - has been badgering Ben and Jerry's in the wake of their annual free cone day which occurred on 14th April 2015. A slew of campaigners have been shown holding placards outside Ben and Jerry's establishments saying why they want vegan ice cream on the menu, and FARM has also been pushing the agenda on Twitter and via a petition.
Ben and Jerry's have responded though. And it's good news.
At this point there's no confirmation on what flavours will be veganised, or how long it'll be until we see vegan Ben and Jerry's on the shelves, but we hope to see some old favourites like Cookie Dough and Phish Food soon.
To support FARM's ongoing campaign to push for vegan options, check out http://demanddairyfree.com/ and sign their petition to Ben and Jerry's, which currently sits at over 21,000 signatures.


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In Milan, a cultural shift has been happening in the past few years, as scores of young creatives have been rising up and creating spaces and initiatives in which change can take place in regards to inclusivity, diversity and cultural impact.
For this reason, the Afro Fashion association recently launched an initiative called the Black Carpet Awards. Founded by Michelle Francine Ngonmo , the award gala will take place in February 2023, during Milan Fashion Week and will celebrate talents of different backgrounds with ten awards across five different categories like legacy , creativity, entrepreneurship and community in acknowledgement of ten leaders of change from a variety of creative sectors such as fashion, art, food, design, sport, cinema & entertainment. The first edition in 2023 is set to have a focus specifically on Italy based talent and will also include a special tribute to the late Virgil Abloh. The team behind the project includes nss’ chief executive officer Walter D’Aprile; nss magazine editor at large and creative director behind the My Queer Blackness, My Black Queerness Jordan Anderson, content creator and talent Tamu McPherson; art and fashion curator and digital art expert Gloria Maria Cappelletti; art director Macs Iotti; Ghanaian-born, Italian-based designer Nana Brenu, as well as head of editorial content at Vogue Italia Francesca Ragazzi.
All of the people mentioned played a vital part in piecing together the entire thing. In the upcoming weeks, there will also be a wider jury that will eventually be revealed, who will take part in voting for each category along with a percentage of votes from the public. “Diversity is about sitting around a table and discussing how to challenge representation of marginalized communities. I hope this project will tear down walls and barriers and help understand the importance of forging ties and working together to write the story.” of DE&I” – founder Michelle Francine Ngonmo.
“The event is about creating a space where we can all be celebrated for the efforts that we put into the work we’ve done as a community on a daily basis. Many of the creatives of today are longing for spaces like this and we’re extremely proud to be acknowledging the young people for the work that they’ve been doing in society“. – Jordan Anderson


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PROFILE: Emmanuel Macron poised to become France’s youngest presidentWorld April 24, 6:44
North Korea ready to carry out nuclear test at any time — South Korean paperWorld April 24, 5:56
Swedish think tank SIPRI puts Russia in world’s top three biggest defense spendersMilitary & Defense April 24, 4:35
Ukraine reconciliation meeting in Minsk postponed over OSCE car blastWorld April 24, 3:21
Macron announces his victory in first round of French presidential voteWorld April 24, 1:29
Le Pen gets 23.08%, Macron - 23.11% after 33 mln votes counted — Interior MinistryWorld April 23, 23:58
Preliminary results of French polls reveal defeat of two leading partiesWorld April 23, 22:49
Macron, Le Pen lead in first round of French election — TVWorld April 23, 21:33
Russian Foreign Ministry slams OSCE car incident in Donbass as 'provocation'Russian Politics & Diplomacy April 23, 19:41
MOSCOW, July 23 (Itar-Tass) — The Council of the Eurasian Economic Commission (EEC) has approved a new version of the Commodity Nomenclature for Foreign Economic Activity and the Common Customs Tariff of the Customs Union, the Commission said in a release.
According to preliminary calculations, the transition to the new common customs tariff will reduce the average rate of the customs duty from 9.6 percent to 7.5-7.8 percent, compared to the current rate, the EEC Council emphasised.
“The present version is formed with regard to the obligations of the Russian Federation to join the WTO. About 90 percent from the total number of tariff lines will remain at the current rate. Rates are reduced on about 1,000 items, including food products, carpets, clothing, ferrous metal products, transport vehicles,” member of the EEC Collegium (minister) for trade Andrei Slepnev explained.
“The Commission, in cooperation with the governments of the Customs Union countries is developing a set of measures that will minimise the risks to businesses in connection with the accession to the WTO. These may include measures to stimulate the production and marketing of products of the Eurasian Community, as well as special measures for the protection of the domestic market of the Customs Union,” said Slepnev.
The Eurasian Economic Commission was created by the decision of the presidents of Russia, Belarus and Kazakhstan in late 2011 as the single permanent regulating body of the Customs Union and Common Economic Space. The EEC has the status of a supranational governing body, and the organisation is not subordinated to any of the three governments. The Commission’s decisions are binding in the three countries.
The main objective of the EEC is to provide the conditions for the functioning and development of the Customs Union and Common Economic Space, as well as to work out proposals for further integration development. The EEC takes over the authority of the abolished the Customs Union Commission.


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Mar 20, 2016
Happy birthday to the Queen Victoria Market! It opened this day in 1878.
There's been a lot about sugar in the news recently, so we decided to ring Dr Rosemary Stanton and see what was actually happening. Recently the UK have joined a few other countries by introducing a tax on sugary soft drinks, which in places like Mexico has achieved a reduction in overall consumption. Other than the (subjective) benefit of flavour, there really is nothing good at all in softies like Coke or Pepsi, and even their "diet" versions can still have adverse health impacts.
Next up we spoke to John at the aforementioned Queen Victoria Market.
We finished by jumping into the time machine and speaking to Jane Lawson about her upcoming book Milkbar Memories. The book documents the treat food we enjoyed back in the 70s, from mixed bags of lollies through to the ubiquitous Chiko Roll. The book is available from May, and even includes recipes so you can make your own lollies - what's not to like?


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Mumbai: Marico, the Indian multinational consumer goods company, has roped in Somasree Bose Awasthi as chief marketin
Mumbai: WOW Skin Science, one of the leading D2C beauty and wellness brands, has announced the appointment of Vanda F
Mumbai: Dentsu Creative has released the results of its annual survey of CMOs in the UK, US, China, India, and Brazil
Mumbai: According to a recent study released recently, over 68 percent (or two-thirds) of chief marketing officers (C
Mumbai: Ed-tech startup PrepInsta has elevated Manish Agarwal to chief marketing officer's position of the brand and
Mumbai: The global digital skill provider, Simplilearn, has appointed Will Lin as the new chief marketing officer.
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Among Amazon's smorgasbord of Prime Day deals, a wide swath of Fitbit's wearable devices are on sale. The clear standout is the top-of-the-line Fitbit Sense, normally $300 but today discounted down to $199.95, even cheaper than the step-down Versa 3. It's available in either black or gold, with accompanying silicone bands, and it ships for free.
We'd wager that a lot of the extra time that children are spending at home is going to tablets, so it's convenient that Google is releasing a kids mode for Android tablets called Kids Space. It basically aggregates kid-friendly apps and videos, as well as 400 free books (in the US).
The pandemic has forced many of us to stay at home, and in a lot of cases, this also meant working from our abodes. This has been a particularly tough situation for parents, who need to look after their kids while on lockdown. YouTube wants to offer a solution to make things easier for families by adding more than a hundred movies to its Kids collection.
A year and a half ago, we warned that you shouldn't migrate your family subscription to YouTube Music if you want to keep your Play Music child accounts intact. With the shutdown of Play Music inching closer, the situation has changed a little, but the core of the problem is still present: According to YouTube's terms, children under the age of 13 aren't allowed to use the service officially — only YouTube Kids is open to them. Thus, young minors won't be able to stream once Google shuts down Play Music.
To give parents peace of mind while their children are listening to music, Spotify is introducing a separate app for younger users. Only hand-picked, kid-friendly audio content will be available through the new app, whose bright and colorful UI with oversized buttons will make it easier for little ones to explore.
The days of plopping kids in front of a TV to distract them are waning — these days, it's usually a tablet loaded with apps. But picking out the right sorts of apps for your kids can be tough. Google hopes to make that a bit easier for parents with two new changes coming to the Play Store: A new Kids tab filled with apps best suited for them, and a new "teacher approved" app rating to mark the cream of the age-appropriate crop.
Netflix is giving users more controls who can access which profile and what titles they can access from within. Most of these additions are for meant to tailor the viewing experience for kids, but for groupies sharing a single account, at least one of the changes will relieve some people from having their content suggestions bombed by their fellow viewers.
Millions of children are stuck at home right now due to the coronavirus pandemic, but that doesn't mean they should be in summer holiday mode just yet. To help parents get into the homeschooling groove, Google has put together a list of Youtube creators and channels that make learning from home easier for kids of all ages.
It can take a fair bit of time for a series of major changes to a service everyone's seemingly familiar with to register with constituents. When YouTube announced its beefed-up compliance measures for the Children's Online Privacy Protection Act, independent content creators rang the first alarm bells, fearing their videos would be subject to restrictions on their creative voice and revenue. Now, viewers are beginning to complain about the loss of features on their end whether they're trying to keep their kids educated and entertained or if they happen to enjoy some nostalgic puppetry themselves. So, we're taking a comprehensive yet concise look at what's been going on and what might come next.
Amazon just reported that Alexa is now available on over 85,000 devices, a 41% spike from May, from 9,500 brands — up another 28.3% from four months ago. With those kinds of numbers, it is paramount that more thought be put into a user's sense of privacy and security when they own an Alexa product. Today, the company announced a number of improvements, features, and skills it has worked towards in the past year with some new features available from today — notably including the coming addition of Samuel L. Jackson as a voice for Alexa.


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Harley Seyedin, president of AmCham South China, said the Sino-US trade conflict should end soon, at the 2019 AmCham South China Asia Pacific Business Summit. [Photo provided to chinadaily.com.cn]
Officials, scholars and business executives from both China and the United States urged for an end to the trade conflict between the world's two largest economies as soon as possible, as the ongoing tension has hurt both economies.
"We are all concerned about what has been termed a trade war, and we all hope that it ends soon, and it must end soon as we need to lead the world together through cooperation and friendship," said Harley Seyedin, president of the American Chamber of Commerce in South China (AmCham South China).
He made the remarks during The 2019 AmCham South China Asia Pacific Business Summit held in the Guangdong provincial capital Friday.
"We strongly suggest that the leaders of both countries end the tariff-counter tariff approach and sit down to work out a mutually beneficial solution that is in the best interest of both nations," Seyedin said.
"Our membership believes trade is but just one small part of the US-China relationship. And our 2019 State of Business in South China study demonstrates that, at present, 78 percent of our American companies with investment in South China are primarily engaged in the production of goods and service in China for the Chinese market. Much of the components and materials used in such production are imported from the US," he said.
"And therefore, we, the more than 2,300 members of AmCham South China, who account for 40 percent of all US-China business, trade and investment, represent a substantial piece of the larger part of the US-China relationship. Our investment and hard work have greatly benefited the people of China and US alike," he added.
Chen Yuehua, Guangdong Provincial Department of Commerce deputy director general, said the US is the most important economic and trade partner of the province and both sides have a very good foundation for promoting economic and trade cooperation.
"The US is the biggest trade partner of Guangdong, with a trade volume reaching $132.29 billion in 2018," Chen said.
Jim Levy, US consul general in Guangzhou, delivered a speech at the 2019 AmCham South China Asia Pacific Business Summit. [Photo by Zheng Caixiong/chinadaily.com.cn]
Last year the US constructed a total of 262 investment projects, with a contract investment of more than 4.67 billion yuan ($686.76 million) in Guangdong, while the province established 132 companies and subsidiaries in the US, with a contract investment valued at more than $500 million.
"Guangdong attaches great importance to improving economic ties with the US. and I believe both countries will finally reach a win-win deal," he said.
According to Chen, Guangdong will hold the third China (Guangdong)-US Investment and Cooperation Fair in San Francisco on June 7 to further expand economic ties between Guangdong and the US.
Jim Levy, US consul general in Guangzhou, said the Sino-US relationship is an important bilateral partnership in the world.
More than 400 government officials, scholars and business executives the Asia Pacific rim attended the event.


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Wellness is on the rise in Singapore. International brands like Virgin Active are honing in on Singapore as a South East Asian launchpad, boutique studios are providing springboards for regional athleisure labels to penetrate the market, and healthy eating presents a lucrative opportunity. For entrepreneurs with a presence in the island’s vibrant wellness scene, the growth in such opportunities has been palpable.
“We really did not have much competition back in 2011 – but things have come a long way since then,” explains former England rugby player and UFIT Founder James Forrester. He’s seen the market develop dramatically since moving to Singapore in 2010 after a career-ending knee injury. Originally he noticed a gap in the market for personal training, now his 85-strong team provides bootcamps, CrossFit classes and personal training across seven facilities in the region.
Government statistics confirm overall demand is on the rise with annual gym visits increasing from 1.8m to 2.5m in the five years to 2015. “Our health promotion board has been quite aggressive in asking people to get fit, and pushing out programmes that reward increased health,” explains Ileane Ng, Founder of boutique studio PoleFIT, which she began in 2011 after noticing existing studios were at capacity.
And with a quarter of the country’s 5.7m population expats, it’s no surprise that wellness trends from the US, UK and Australia, as well as other parts of Asia, are also diffusing into the market. Australian fitness franchise F45 opened its first studio in 2016, while Virgin Active has launched two clubs since 2013. A further 8-10 outposts are earmarked for the next six years, with the gym operator planning to invest the equivalent of £50m in expansion.
With growing consumer awareness of the importance of health and fitness coupled with rapidly rising wealth expected to drive demand, CEO Matthew Bucknall believes the brand can build its Asian presence to the same level as that of Europe and South Africa.
A handful of globally recognised brands have already managed to develop a strong presence in the region. American sportwear brand New Balance boasts eleven stores across the island, whilst Lululemon has expanded its footprint to three stores since launching in 2014. Most recently, Australian activewear brand Lorna Jane opened a showroom, in a bid to capture a share of the growing market. Triple Pte, which owns exclusive distribution rights for Under Armour in Asia, has also managed to penetrate the market, operating five stores across the city. And, after taking a minority stake in Every Second Counts in March 2017, the sports retailer plans to expand the British athleisure label’s presence over the coming years.
With the city’s real estate some of the most expensive in the world, many of Singapore’s savviest wellness entrepreneurs are combining studio space with athleisure boutiques. Shops at three of Pure Group’s yoga and gym spaces in the city stock the company’s own athleisure lines, while boutique studios like Barre2Barre sell Indonesian brand Raquel and Hong-Kong based eco-wellness label Rumi X.
Jessica Felicia, who co-founded the company’s first Singapore location in 2016, says that tie-ups like these are good for marketing as well as space utilisation. “We’ve got good press from collaborations with other boutique brands,” she explains.
Currently, Barre2Barre’s sites in Singapore and Hong Kong are the only places in Asia to offer BarreAmped classes. “Yoga is very popular; pilates and pole fitness are at the next level,” says Felicia, while “barre is relatively new so there is more room for growth.”
Expats like the studio’s Los Angeles-born co-founder may be leading the way when it comes to boutique fitness, but as Felicia explains: “cities like Hong Kong and Singapore still look to the west for inspiration in the modern fitness and wellness scene.
“And on the flip side, Asia has a deep heritage in martial arts; so plenty of people abroad look for inspiration here too.”
Certainly, both for fitness and at a competitive level, the scene is booming. CNN labelled the country the “MMA capital of Asia” in 2012, and serial fitness entrepreneur Arlene Lim has been able to grow her latest venture, martial arts site Trifecta, to 1000 members across three sites in as many years.
However, one of the biggest challenges these entrepreneurs face is the risk of copying, in a domestic economy characterised by caution to new ideas. “When I first opened my previous venture back in 2003 we were actually one of the first martial arts gyms,” explains Lim.
“Everyone was telling us: you’re going to fail. In Singapore people tend to copy and do what’s been done, they don’t tend to innovate. We’ve had to distinguish ourselves from our competitors, and that’s involved implicating more mindfulness in our training – making it less about working out and more about developing an internally reflective mindset,” she adds.
Yet, for businesses looking to mitigate the risk from copycats, the burgeoning wellness entrepreneurship community provides a much-needed boost. “There is a small but growing ecosystem of supportive wellness practitioners we can tap into for topics like nutrition, functional movement and anatomy, and meditation,” says Felicia.
Bridging the gap between barre, pole and martial arts offerings, and highlighting the healthy investment ecosystem on the island is GuavaPass, a studio booking platform covering 10 cities across Asia. Taking inspiration from the ClassPass model, unlike its American counterpart, GuavaPass continues to offer unlimited class subscriptions, and in November 2016 closed a $5m funding round led by Singaporean VC fund Vickers Venture Partners. VP of marketing and branding Emma Harris believes this is down to the company’s regional coverage which is a key part of the proposition. “People are interested in trying a variety of exercises, and living in such transient cities they naturally need flexibility,” she argues.
In contrast with this buoyant fitness landscape, healthy eating in Singapore, which has the second-highest rate of diabetes in the developed world, lags behind, with Euromonitor data revealing that the category grew by just two percent last year. Forrester points to local hawker centres, which sell cheap regional cuisine alongside drinks like sugar cane juice, as part of the problem. “The food tastes great but is not so good for the waistline,” he says. “It’s challenging as they’re a way of life in Singapore and a real community thing. And although health and organic products are becoming more available, they are very expensive still.” Yet, uptake of the UFIT clean and lean four-week nutrition challenge has been positive, with 290 participants in January alone.
Change might be slow, but where visible it’s being led by innovative startups such as The Whole Kitchen. Founded by two Australian expats in 2015, the brand caters to those with organic, paleo -friendly, raw, grain-free and dairy-free dietary needs, at events as well as through a smattering of the island’s independent supermarkets. So, whilst the lack of healthy options can present a challenge for brands operating in Singapore, it also provides a big opportunity for those in a position to respond.
Similarly, simmering under the surface of the Singaporean market is also the potential for wellness services targeted at older people.
Currently 12 percent of the island’s residents are above retirement age, with that figure set to rise significantly. Alex Phua, who manages a nonprofit community gym in the suburb of Ulu Pandang, says he has been able to attract a clientele consisting of 40 percent over the age of 60 by offering affordable memberships priced from $400 Singapore Dollars (£200) per year. And Alan Tan, the Marketing Director of OSIM international, a regional wellness conglomerate that owns the GNC franchise in Singapore, argues that the current demographic provides growth opportunities for powders, vitamins and supplements too.
“Like in all markets with ageing populations, the awareness of good nutrition and the need for supplements is high, more sophisticated, and growing all the time,” he explains.
These demographics bode well for wellness tourism too, with consultancy Horwath HTL citing older travellers’ demands for wellness as one of the top ten global long term trends in the industry.
For now, despite Changi airport boasting one of the only wellness lounges in the world, Singapore lacks the internationally-recognised spas and healthy holiday reputation of its neighbours. But with Ipsos figures showing that half of the island’s residents have ‘staycationed’ in the last year, the huge gap for retreats marketed at the domestic market is clear. This is something Lim sees a lot of potential in, explaining: “People go to Bali, Indonesia or Thailand to relax, but the greenery here is fantastic – you don’t have to go far away to find centeredness.”
With Indonesia and Thailand seeing wellness tourism growth of 40 and 17 percent respectively, and Chinese consumers’ appetites for health-focused trips “huge and growing,” the opportunity for Singapore to rise to prominence in the wellness travel space is one that’s likely to present huge opportunities.


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Australians having credit cards issued by Aussie banks need not worry anymore about the constant increase in surcharge amount as the authorities have made it illegal.
The Federal Government passed a bill in February and made the Australian Competition and Consumer Commission powerful enough to take big decisions relating to high payment of fees while making credit card payments. On Sept. 1 when the law came into existence officially, the ACCC banned the increase in surcharges for users making payments using MasterCard, Visa, EFTPOS and American Express issued by Aussie banks.
The ACCC now has greater power to crack down large businesses that indulge in this frustrating practice. As a direct result, most large companies have “revised” their pricing practices beginning today. However, there are some exemptions in this case, which include payment made through BPAY, Diners Club cards, PayPal and American Express cards provided directly by American Express.
“We will be enforcing these new rules from today, and the ACCC encourages all large businesses that haven’t already to ensure their payment charging methods are in line with the new law,” ACCC Chairman Rod Sims said. “The new law has caused many large businesses to review their pricing practices. We expect to see a move from flat-fee surcharge for purchasing items like flights towards percentage-based or capped surcharges.”
Life Hacker stated that the new rule will make large business charge 0.5 percent on payments made via debit cards, 2 to 3 percent for American Express payments and 1 to 1.5 percent for credit cards. It has also been reported that some businesses might also charge higher. On the other hand, the ACCC also claimed that some of the event ticketing companies might change their pricing practices based on the transformation in the surcharge practices made for Australian credit card users.
Gizmodo reported that the initiative will be applicable only for “large businesses” for 2016 while it will be included in all types of businesses from Sept. 1, 2017.


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CHESAPEAKE, Va. — Dollar Tree Inc. has hired Jeffrey Davis to be its chief financial officer, the company said Thursday. Davis will replace Kevin Wampler, who will transition out of his current role as CFO and is expected to remain with the company as an advisor until April 2023 to ensure a smooth transition.
“I am extremely pleased to announce that Jeff Davis will be joining the Dollar Tree team as our new chief financial 0fficer,” company president and CEO Mike Witynski said. “For many years, Jeff has been recognized as a strong and collaborative retail business partner, driving superior financial and operational results. He has a proven track record of strategic leadership, and building and developing talented teams. I believe his skill set and experiences are the perfect fit for Dollar Tree, as we continue to fill key executive roles and execute on the transformation of our company.”
From 2006 to 2018, Mr. Davis served in a number of financial leadership roles, including treasurer of Walmart Stores Inc., senior vice president of finance and strategy and chief financial officer for Walmart’s U.S. Segment, chief financial officer of J. C. Penney Co. and chief financial officer of Darden Restaurants Inc. Since October 2018 he has served as chief financial officer of Qurate Retail Group, a leading retailer and media conglomerate comprised of seven retail brands including QVC, HSN and Zulily.
“I look forward to joining Dollar Tree at such a pivotal time in the company’s journey,” Davis said. “Dollar Tree has a long and unique history in value retail. My team will be focused on supporting the company’s strategy development and execution, and delivering insights and action plans to support efficient operations and create shareholder value. The company has a strong balance sheet and a tremendous opportunity for growth.”
Witynski notes that Davis is the latest of a series of additions to Dollar Tree’s executive team, joining John Flanigan (in charge of the company’s supply chain), Larry Gatta (Family Dollar merchandising) and Bobby Aflatooni (information technology).
“I look forward to announcing new leaders as we continue to develop our leadership team to accelerate the growth and transformation of our company,” Witynski said.


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Toyota is still on track to release its first hydrogen fuel cell vehicle in 2015 and next month Toyota will release more details about the upcoming vehicle. At next month's Frankfurt Motor Show, Toyota will demonstrate how it has overcome some of the historic barriers to developing a marketable fuel cell vehicle and how it is closing in on its goal of achieving a driving range and performance comparable to conventional petrol and diesel engines, but with no harmful tailpipe emissions.
August 2013 Archives
Cadillac is working hard to expand its lineup in an effort to go head to head with Mercedes-Benz and BMW. Over the next few years Cadillac plans to introduce several new models, including three new crossovers by 2017.
The all-new 2014 BMW X5 is arriving in showrooms this fall and now BMW has unveiled a new diesel version, the BMW X5 M50d. The X5 M50d is powered by a 3.0L six-cylinder diesel with 381 hp and 546 lb-ft. of torque. The diesel unit's power is transferred to the road by an eight-speed automatic transmission and BMW xDrive all-wheel drive.
Nissan has announced that the 2014 Nissan Maxima is now on sale and starts at $31,000. The changes to the 2014 Maxima are small with only some package changes and two new colors.
The 2014 Honda Odyssey is the first minivan to earn the highest possible rating of 2013 Top Safety Pick+ from the Insurance Institute for Highway Safety. structural improvements to The 2014 Odyssey received new structural improvements and a new type of side curtain airbag that includes a front chamber design providing additional protection in situations where occupants move in a more angled outboard trajectory, such as those that occur in oblique or offset crashes.
Kia has unveiled the new Niro concept, which is a hint at a possible future B-segment that would compete models like the Nissan Juke. The Niro concept was designed at Kia's Frankfurt design studio, under the direction of Gregory Guillaume, Chief Designer Europe.
Volvo has unveiled the new Concept Coupé ahead of its debut next month at the Frankfurt Motor Show. The Concept Coupé pays tribute to the Volvo P1800 from the 1960's and is the first of a series of three concept cars that reveal the design possibilities created by Volvo's new Scalable Product Architecture.
The pricing for the all-new 2014 Kia Soul has been released with a starting price at $14,700. The new 2014 Soul will arrive in the fourth quarter of this year.
Ford has announced the introduction of the 2014 Ford F-150 STX SuperCrew and STX Sport Package to the F-150 lineup. Positioned between the base XL and XLT models, STX adds an upgraded exterior and interior features like body-color front bumper fascia, grille surrounds, and front and rear step bumpers; the Power Equipment Group, 17-in wheels; cruise control; a/c and a CD player.
Ford has released a preview of its new S-Max concept, which is going to debut next month at the Frankfurt Motor Show. Ford says that the S-Max reveals Ford's vision for a future sport activity vehicle. The new S‑MAX Concept employs the latest Ford global design language with a high mounted grille, swept-back headlamps and a unique treatment of the vehicle's lower fascia that includes design elements that appear to float within the lower front aperture and above the spoiler.
This fall Cadillac is releasing new Vsport versions of the 2014 Cadillac CTS and XTS. The Two Vsport models will sit at the top of the lineup with the twin-turbocharged 3.6L V6 that puts out 420 horsepower in the CTS and 410 horsepower in the XTS. GM expects the new Vsport model to account for around 15 percent of XTS sales and is going to add more Vsport models in the future.
Infiniti has released the first official photo of the new Q30 concept, ahead of its debut next month at the Frankfurt Motor Show. The Q30 concept is a preview of a new compact Infiniti model.
Toyota has released the pricing for the all-new 2014 Toyota Corolla, which starts at $16,800. The 2014 Corolla is available in four trim levels: L, LE, S, and the new LE Eco grade. The Corolla starts at $16,800 for the L grade with a new 6-speed manual transmission and the 1.8L 132-hp engine, while the Corolla L with a 4-speed automatic starts at $17,400.
Opel has unveiled the new Opel Insignia OPC, which gets some style updates and is powered by a 325-hp engine that accelerates the Insignia OPC from 0-62 mph in 6.0 seconds. On the outside the new Insignia OPC gets a re-styled front and rear, with signature OPC design elements such as distinctive saber-tooth detailing at the front and the tailpipe trim integrated in the rear.
Toyota is hard at work to make its vehicles stronger in front crash tests after newer models like the new RAV4 received low ratings. Toyota is planning midcycle changes to make its vehicles perform better in the small overlap frontal crash test, which tests what happens when a driver crashes the left front quarter of their vehicle into an object, like a tree.
Back in 2011 Volvo killed off the S40 and V50 models, leaving a hole in its lineup. The new V40 five-door hatchback eventually filled the gap left by the two models, but Volvo decided to not bring it to the U.S. Now it's being reported that Volvo's execs in the U.S. are pushing hard to convince Volvo to bring it here.
Motor Trend has named the 2013 Porsche 911 Carrera 4S as its "Best Driver's Car" for 2013. The Best Driver's Car honor is decided after a yearly competition among the top new or improved performance cars available in the U.S. market. This is the second consecutive year that a 911 variant has won the award.
This fall Nissan is introducing the new 2014 Pathfinder Hybrid that is powered by a new supercharged 2.5L four-cylinder engine that is mated to a 15 kW electric motor and lithium-ion battery. That same hybrid powertrain will soon be offered in the Rogue and Murano crossovers.
GM originally took the wraps off the new 2014 Chevy Camaro Coupe at the New York Auto Show earlier this year, but in a surprise move the convertible is debuting in Europe at the Frankfurt Motor Show. The refreshed 2014 Camaro gets a revised front fascia that has a wider lower grille and a narrower upper grille, while the functional hood vent helps reduce heat and aerodynamic lift. At the rear, a sculptural deck lid, horizontal lamps and a diffuser complete the new design.
Land Rover has released the first details about the new hybrid versions of the Range Rover and Range Rover Sport, which will arrive in the UK in early 2014. The two hybrids will be the world's first premium diesel SUV hybrids, with a 3.0L diesel engine mated to an electric motor.
It looks like the Toyota FJ Cruiser's days are officially numbered. The FJ Cruiser was originally planned as a one-generation model and now its time is up. According to Toyota's fleet website, the 2014 model year will be the last for the FJ Cruiser.
Opel has unveiled its new Monza Concept ahead of its world debut next month at the Frankfurt Motor Show. Opel says that the Monza concept is the "role-model for the next generation of Opel cars." The original Monzahad its world premiere at the IAA back in 1977 and was a large coupe with a six-cylinder engine. The Monza was in production until 1986.
Audi has unveiled the refreshed 2014 Audi A8, which gets a refreshed exterior with the new Matrix LED headlights, engine updates and new driver assistance systems. On the outside the new A8 doesn't look much different from the 2013 model, but the engine hood, grille and the front bumper have been restyled. The rear of the A8 gets redesigned LED taillights and a redesigned bumper.
Nissan has revealed that it will offer a newly-developed Cummins V8 turbo diesel in its next-generation Titan full-size pickup. Cummins and Nissan have teamed up to create a new Cummins 5.0L V8 Turbo Diesel engine for the Titan and Cummins commercial vehicles. The turbo diesel V8 will generate around 300 horsepower and a torque rating in the mid-500s (lb-ft).
Ferrari has unveiled the new 458 Speciale, which is going to have its world debut next month in Frankfurt. The 458 Speciale is a higher performance version of the 458 Italia with its 605 horsepower engine and other significant upgrades.
Land Rover has announced the updates to the 2014 Range Rover Evoque, with the biggest update being the addition of a new nine-speed automatic transmission. The new ZF nine-speed automatic will be available across the Evoque range and is expected to reduce fuel consumption by up to 11.4 percent and reduce CO2 emissions by up to 9.5 percent. The 2014 Range Rover Evoque also gets new driveline technologies, seven new driver assistance features and detail design enhancements inside and out.
VW has officially unveiled the all-new 2014 Golf R, which will go on sale in Europe by the end of the year. The big news is that the new Golf R is now powered by a new engine that packs 296 horsepower, 30 more than before and at the same time is 18 percent more fuel efficient.
Mitsubishi has announced the pricing for the 2014 Mitsubishi Mirage five-door subcompact, which starts at $12,995. Mitsubishi has also released the fuel economy ratings for the Mirage, which is rated at 37 mpg city/44 mpg highway with the CVT, while the 5-speed manual transmission model is rated at 34 mpg city/42 mpg highway.
The midsize sedan segment is one of the most competitive segments in the US and for years it's been dominated by models like the Toyota Camry and Honda Accord. In the past year it's gotten even tougher for automakers competing in the segment since Honda, Ford and Nissan all released new models. Now Mazda has put its hat in the ring with its all-new 2014 Mazda6, which makes you take notice with its sexy Kodo design and efficient SkyActiv technology under the hood.
Toyota has just released a new sketch of the Yaris Hybrid-R concept, which is going to be officially unveiled next month in Frankfurt. The Yaris Hybrid-R concept is based on the Yaris subcompact, but according to Toyota, the concept was created as a showcase for possible future hybrid development ideas that can deliver greater performance and driver rewards.
Toyota launched the youth oriented Scion brand back in 2003 with the xA and Xb hatchbacks. Sales immediately picked up, but fast forward to 2013 and the Scion lineup as aged and sales have also seen a significant drop off. Toyota is now telling its dealers that they are free to drop the brand from their showrooms.
Bugatti has taken the wraps off a new special edition of the Veyron 16.4 Grand Sport Vitesse, the Jean-Pierre Wimille edition, which honors Jean-Pierre Wimille. Don't know who that is? Jean-Pierre Wimille won the Le Mans 24 Hours race in the Bugatti Type 57G Tank in 1937 and 1939.
It's been 10 years since the original Ram Rumble Bee was introduced and to celebrate the 10th anniversary, Ram Trucks has unveiled the new Ram 1500 Rumble Bee Concept. The concept also pays tribute to the heritage of Ram's unique truck designs that include the Lil Red Express, Warlock and Power Wagon.
Ever since the 2013 Ford C-Max hybrid hit the market Ford has been criticized since the C-Max has failed to meet Ford's claimed 47 mpg rating. We even tested the C-MAX last year and only managed to get in the high 30-mpg range. Ford is now responding to the complaints and has lowered the EPA rating for the C-Max down to a combined rating of 43 mpg.
Cadillac has unveiled the new Elmiraj concept at Pebble Beach. The Elmiraj concept is a new large coupe concept that is meant to explore new dimensions for Cadillac's ongoing expansion. The large coupe is also a modern update to the classic format of a two-door grand coupe, Elmiraj is a pure expression of streamlined design and engaging rear-wheel drive performance.
Following the several leaked photos of the new M4 Coupe Concept, BMW has now released all the info and even more photos for the concept that is the preview of the successor the much loved M3 Coupe. The BMW Concept M4 Coupe is finished in the color "Aurum Dust" that was exclusively developed for this model. BMW says that the concept continues its M's design language - strong in character, emotional and extremely dynamic.
Lincoln has previewed its new Lincoln Black Label, which is a collection of new exterior and interior themes for Lincoln's vehicles. The Lincoln Black Label is being showcased on the MKZ and the MKC Concept. Lincoln Black Label eventually will be available on every new Lincoln vehicle. According to Lincoln, "Limited-edition design themes, ultra-premium materials, meticulous execution and elevated client service will be the hallmarks of Lincoln Black Label."
Audi is celebrating the production of the 500,000th TT with a special edition TTS Competition model, which is available in both Coupe and Roadster versions. The TTS Competition comes in either Imola yellow or Nimbus gray and gets a fixed rear wing with bars in a matt aluminum-look finish. The Roadster's top is available in either Black or Gray. The 19-inch wheels feature a five-arm "Rotor" design.
Audi is bringing a 700 horsepower concept to the Frankfurt Motor Show next month! We still have a few weeks until the show, but in the meantime we have a set of teaser sketches of the new Audi Quattro Sport e-tron concept.
Mercedes-Benz has unwrapped the 2015 Mercedes-Benz GLA crossover, which is going to have its world debut next month in Frankfurt before it goes on sale in the US in the fall of 2014. The GLA crossover is Mercedes entry in the fast growing compact luxury crossover segment.
Fiat has announced plans to unveil the new 2013 Fiat 500 Cattiva at Concorso Italiano, which takes place August 16 at Laguna Seca Golf Ranch in Monterey, California. The 2013 Fiat 500 Cattiva is based on the 500 Sport, but adds a new "blacked out" look.
Ford has unveiled the Everest Concept, which is a preview of the upcoming Australian Everest SUV, which will compete with other SUVs like the Nissan Pathfinder. The Everest concept is based on the Ranger, but gets distinct styling to differentiate it from the mid-size pickup.
Ford has announced that it is expanding the availability of its inflatable rear seat belts to the 2014 Fusion. Ford originally introduced the new seat belts on the 2011 Explorer and the inflatable seat belts are now available on six Ford and Lincoln models: Ford Explorer, Fusion, Flex, Taurus and Lincoln MKT and Lincoln MKZ.
Toyota has released a teaser of its new Hybrid-R Concept that is going to debut at the Frankfurt Motor Show next month. The Hybrid-R Concept is based on the Toyota Yaris subcompact, but the Yaris's tiny four-cylinder has been swapped out with a 400-hp hybrid powertrain.
Chrysler has announced the pricing for the 2014 SRT Viper, which is getting a $2,000 price increase to $99,395. Chrysler says that the price increase is due to more standard equipment like: HD Radio with Navigation and Uconnect Access; 900 Watt 12 Speaker Harman Kardon audio system, including 2 subwoofers; and the ParkView Back-up Camera.
Honda has unveiled the new 2014 Civic Tourer ahead of its debut next month at the Frankfurt Motor Show. The Civic Tourer is a wagon version of the Civic that is sold in Europe and of will go on sale in Europe early next year.
Toyota has announced the pricing for the new 2014 Toyota Tundra, which is offered in a trims : SR, SR5, Limited, Platinum and the all-new 1794 Edition. The Tundra is also offered in three body styles: Tundra: two-door Regular Cab, four-door Double Cab and four-door CrewMax. Pricing for the base SR regular cab Tundra starts at $25,920 and goes up to $47,320 for the Platinum and 1794 Edition CrewMax 4x4 trim levels equipped with a 5.7-liter V8.
GM has released a preview of the upcoming 2015 Chevy Colorado and GMC Canyon midsize pickups, which will go into production at GM's Wentzville, Mo. assembly center in 2014. At the Center for Automotive Research Management Briefing Seminars today, General Motors Executive Vice President and Chief Financial Officer Dan Ammann provided the first look at the next-generation Chevrolet Colorado and GMC Canyon, which GM says are designed to be capable, versatile and fuel-efficient alternatives to full-size pickups.
While we wait patiently for the next WRX and WRX STI, Subaru has released the pricing for the unchanged 2014 models, which start at $25,995 for the WRX and $34,495 for the WRX STI. The WRX is powered by a 2.5L turbocharged four-cylinder BOXER engine with 265-horsepower and 244 lb.-ft. of torque, while the WRX STI packs 305 horsepower.
Infiniti has released a sketch of its new Q30 concept, which is going to debut in Frankfurt next month. The Q30 concept is a preview of a new Infiniti compact vehicle. Johan de Nysschen, President of Infiniti, stated, "In our quest to appeal to the modern, young-minded premium customer, the Infiniti Q30 Concept has a distinctive style and reaches new levels of product quality."
One year after the launch of the new fifth-generation Nissan Altima, Nissan has announced the updates to the 2014 Altima, which starts at $21,860. The 2014 Altima gets new features like NissanConnect connected car services with NissanConnect Apps, which is a global smartphone integration platform that includes in-vehicle smartphone integration for Android and iPhone operating systems. Launch apps include Online Search powered by Google and Facebook, and will later include iHeartRadio and Pandora Internet radio.
Honda has announced that it will invest $215 million in its Ohio operations to add new powertrain technologies, a technical training center at its engine plant in Anna, Ohio, while also establishing a technical training center in Marysville, Ohio. These new investments bring to nearly $2.7 billion the amount Honda has invested in its North American operations in the last three years.
Chrysler and Fiat currently only offer one electrified model in the US, the California only Fiat 500e. If you're hoping for more hybrid and electric models from Chrysler, unfortunately it won't happen anytime soon. Bob Lee, head of Fiat and Chrysler global powertrain recently stated that there are no plans to invest in electrified powertrains until consumers are willing to pay for the technology.
Honda has announced that the 2014 CR-V is now on sale and starts at $22,945. The 2014 Honda CR-V carries over from the 2013 model year and is available in LX, EX and EX-L trims.
MINI has just confirmed that the next-generation MINI Cooper hatchback will debut on November 18, which is 107 years to the day since the birth of the man who created the first MINI, Sir Alec Issigonis. The new MINI will also have its exhibition premiere in front of international audiences that same week, with debuts in Los Angeles and Tokyo. On November 20, the new MINI will debut at the Tokyo Motor Show, followed just hours later by the Los Angeles Motor Show.
Tesla is reportedly working on a new all-wheel-drive version of the Model S sedan according to sources that spoke with The Verge. The Model S already has an insane waiting list and with the introduction of a new all-wheel-drive version that list isn't about to get any shorter.
Opel is set to debut the new Opel Monza Concept at the Frankfurt Motor Show next month and although it's labeled as a concept, Opel says that it's a glimpse of the brand's future. "The Monza Concept is our vision of Opel's future in pure form," says Opel CEO Dr. Karl-Thomas Neumann. "It also continues a long Opel tradition of presenting ground-breaking concept cars at the IAA. After all, Opel was the first carmaker in Europe that built a study and presented it to the public at the IAA in 1965."
VW is going to launch a more powerful diesel engine in the US that is cleaner and more efficient than the current four-cylinder diesel that is currently offered in VW and Audi models. When the new diesel arrives it will put out 150 horsepower and 236 lb-ft. of torque.
Although the 2014 Infiniti Q50 is supposed to be the replacement for the current G37 sedan, Infiniti has announced that the G37 will stay around until 2015. The 2014 Q50 is just now starting to arrive in showrooms, but if you like the G37 better, you will be happy to hear that it will continue to be offered.
GM has announced a significant price drop for the 2014 Chevy Volt, which now starts at $34,995 compared to $39,145 for the 2013 model. After the available tax credits the 2014 Volt could start at $27,495.
"The lower price and cost savings from driving on electricity provide Volt owners an unmatched balance of technology, capability and cost of ownership," said Don Johnson, U.S. vice president, Chevrolet sales and service. "The 2014 Volt will offer the same impressive list of features, but for $5,000 less.
Earlier this year VW unveiled the CrossBlue crossover concept at the Detroit Auto Show. Although it was labeled as a concept, the CrossBlue concept previewed a new three-row crossover from VW. VW still has yet to make a final decision if the crossover will be produced at its Chattanooga, TN plant, but a decision is reportedly going to happen by the end of the year.
Subaru has released teaser photos of the high-performance version of the BRZ, the BRZ STI. The details are scarce, but it is expected that the BRZ STI will debut sometime later this year, most likely at the LA Auto Show.
Truck Trend is reporting that Toyota is going to streamline the Tacoma lineup for the 2015 model year. The Tacoma is currently available in Double Cab, Access Cab and Regular Cab versions, but it's being reported that the Regular Cab model will disappear starting with the 2015 model year.
BMW has announced that production of the third-generation 2014 BMW X5 officially began today. The first, new 2014 BMW X5 to roll off the line was a Mineral White M50d. It features Exclusive Nappa Mocha leather interior and will be exported to a dealer in Eastern Europe.
The EPA has released the official fuel economy specs for the diesel-powered 2014 BMW 328d, which is rated at 32 mpg in the city and 45 mpg on the highway. BMW has yet to publish the specs, but the EPA estimates that the 328d also has a combined rating of 37 mpg.
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A new report sent to the Wall Street Journal says Apple will begin production of the next generation iPhone sometime in Q2 (aka starting now). The report claims the new device (iPhone 5s) will have the same shape and design of the existing iPhone 5.
The report provides the same release info other rumors have mentioned, which is a July/August lunch. The much rumored “cheap” iphone for developing countries is expected sometime in the second half of the year.
I have been an iPhone user from the very beginning but am now feeling left behind when comparing device functionality to major Android competitors. If the iPhone 5s only increases CPU and GPU speed, I worry many will jump ship to competing Android device which seem to be offering a much more compelling solution.


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Online tech sales academy Uvaro has closed a US$12-million Series A round and plans to use the cash to grow its programming and member services.
The raise was led by White Star Capital with participation by BDC Capital’s Women in Technology Venture Fund, Amplify Capital and existing Uvaro investors Real Ventures, Waterloo-based Garage Capital, XFund, WTI and a number of executives from Oracle and Wave.
“The tech sector is the fastest-growing segment of our economy and is expected to hire more than 250,000 individuals, with revenue-generating roles representing a significant proportion of this number,” said co-founder and CEO Joseph Fung. “With the shift to hybrid and remote work, every employer is now tech-enabled. As a result, demand for our grads is through the roof.”
Uvaro was launched in January 2020 by Fung, his sister Donna Litt and co-founder Derek Hall. The company, which provides online training and support for newcomers in the field of tech sales, evolved out of the trio’s previous venture – Kiite, a software platform that enables sales teams to capture and organize critical information needed to close deals.
Fung and his co-founders pivoted to online sales training following a deep dive into the data generated by their Kiite software, a research project supported by the National Research Council of Canada’s Industrial Research Assistance Program (IRAP).
Data in hand, the three co-founders spoke to their Kiite customers and discovered “a bigger skills gap in the marketplace than we anticipated,” Fung told Tech News.
“We first launched a free training opportunity to our customers to help them grow and we were overwhelmed by the demand on both sides, the individuals and the businesses,” Fung said. “So, we launched Uvaro as an offering in January 2020.”
That was just when COVID-19 was sweeping across the globe. The pandemic has been devastating for many industries, but it has also accelerated the adoption of technology. Fung points to a 2020 study by market research firm Gartner that says 80 per cent of B2B sales will occur through digital channels by 2025.
“It was a difficult time to launch a business but the right time to launch this business,” he said. “This is the right time for people to make that (career) change and, frankly, a great time for a business like ours.”
Uvaro offers four- and 12-week tech sales training programs. It develops curriculum in consultation with industry partners, many of whom offer work experience to Uvaro students through apprenticeships, said Fung, a serial founder and graduate of the University of Waterloo’s computer engineering program.
Since launching online a year and a half ago, Uvaro’s sales academy has produced more than 300 graduates and boasts an 80 per cent job placement rate, the company said.
Uvaro employs 22 people. Fung said he expects that number to rise to 40 by the end of the year.
“We’re hiring aggressively in all functions – software development, curriculum development, sales, service, operations.”
Uvaro said its training program is updated regularly to meet the needs of job-seekers and employers.
“The COVID-19 crisis has forced the business world to shift to virtual collaboration and new communication tools,” said Christophe Bourque, General Partner with White Star Capital. “Uvaro’s unique, 3.0 training model fills a significant void in the market. For job seekers, it offers an affordable and achievable retraining option with direct pathways to tech employment. For employers, it helps unlock hidden talent pipelines that lead to highly effective, more inclusive workplaces.”
Looking forward, Fung said Uvaro is focused on “delivering career success” and providing support at every step of a graduate’s career journey.
“We believe that for someone to evolve and see long-term success, they need a lifelong partner who’s there alongside them,” he said. “Our long-term vision really is that idea of helping them with their next step, being there when they have that moment of stress, that moment of doubt… being that support network we all wish we had.”


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According to the TrendForce LED Research Center (ledinside) The latest release of the "2017 UV LED and Module Application Market report" shows that the UV LED products continue to actively carry out in each application, coupled with the water Minamata Convention, energy-saving concessions, such as policy promotion, ledinside estimated UV LED market value in 2017 will grow to 288 million U.S. dollars, 2020 will reach 526 million U.S. dollars, 2015-2020 composite growth rate of 34%.
It can be foreseen that the UV led has the potential to develop, market opportunities unlimited. Therefore, UV LED will become a domestic and foreign enterprises to accelerate the layout of a project, UV LED market will usher in an outbreak. Review 2017 years, domestic and foreign enterprises to UV led what layout? What's the progress of technology? To this end, Ledinside 2017 UV LED related events do a simple collation, readers.
♦ hit 486 million Yuan! Formosa Plastic Joint Day machine installed development uv-led
January 25, 2017, Formosa Plastics announced with Japanese business day Machine (Nikkiso) work together to develop uv-led cause, the production of deep ultraviolet led (Deep UV LED) grain and sales of deep ultraviolet light application products, the cooperation case will focus on water sterilization, air sterilization, resin curing and analysis equipment.
It is understood that the previous Nikkiso planning to set up a joint venture company, by Nikkiso to obtain 51% of the joint venture, the uv-led plant investment 8 billion yen (equivalent to about 486 million yuan), the two sides will be owned by the Taiwan Semiconductor, lighting led mass production technology and existing equipment , strengthen the cost conditions, the expected cooperation after the smooth start of the packaging, testing business is expected by the Formosa Plastic Group under the responsibility of the Department.
♦ Assist uv-cled Device Development, Osram and Hexatech signed strategic agreement
February 15, 2017, the world's leading supplier of ALN single crystal Hexatech company announced that the company and Germany Regensburg Osram Photoelectric Semiconductor Co., Ltd. signed two strategic agreements. These agreements include a long term supply agreement and a number of Hexatech intellectual property (IP) licenses, the former involving aluminum nitride (AlN) substrates, which are directly supported as a 2-inch (diameter) base-plate development project for Hexatech Corporation. The long-term supply commitment to Hexatech ALN (ALN) substrates directly supports Hexatech's 2-inch (diameter) substrate development plan, as well as authorizing certain Hexatech intellectual property (IP). Hexatech chief executive John Goehrke says that by authorizing Hexatech technology, Osram can accelerate its uv-cled device development based on Hexatech materials.
♦ Mountain and Stanley in Japan to expand cooperation in the field of UV LED
February 2017, Japan chemical Giant Mountain (Tokuyama) and the Japanese electric equipment manufacturers Stanley Electric (electric) decided to expand cooperation in the field of deep ultraviolet led, mountain to maintain the development of deep ultraviolet led materials, and wafer production, encapsulation, and product manufacturing and sales business by Stanley Electric. Mountain of deep Ultraviolet led wafer production line and patent, are transferred to Stanleyelectric.
♦ Osram acquired led engininc, special lighting layout and next city
June 6, 2017, Osram issued a circular, the company will acquire in San Jose, California, led supplier led Engininc. Led Engin is a focus on the provision of entertainment lighting, ultraviolet, horticulture, adjustable white light and medical lighting applications and other professional market of the super bright, ultra compact solid-state lighting solutions, its products are mainly Osram photoelectric semiconductor led chip.
Among them, in ultraviolet products, led Engin for industrial applications (such as printing, curing and dental market) to provide powerful UV LEDs.
♦rayvio together Digi-key Electronics, promote UV LED technology
At the end of August, the advanced public health and health company RayVio signed a new distribution agreement, with its UVB and UVC LEDs, to be shipped to the world through Digi-key Electronics, a global electronics distributor.
♦ Osram led the formation of a research team to develop high power UV LEDs
At the beginning of December, Osram Photoelectric Semiconductor (OSRAM Opto Semiconductors) said that it was currently leading a research group funded by the German government to jointly develop a high-power, market-oriented UV (UV) LED chip. It hopes to develop a prototype of about 2020 years ago with a 310 nm wavelength to about half of the UV-B and uv-c spectra. Osram said the new high-power chip "may also open up new areas of application."
♦ Japanese machine installed more high-power UV LED application in water purification system
In the Nepcon Japan 2017 exhibition, the technical leader of the Japanese machine technology research Gonnechun said that the Japanese machine installed the current technology has been the standard specifications, from 30mW to 45mW, in the direction of voltage, 6V, has been successfully UV UV light removal efficiency to upgrade, The heat resistance also changes from 15k/w to 7k/w.
It is reported that the day installed using Alganon Sapphire technology, and will be launched in 2017, the 285nm wavelength of uv-cled, 350mA, 6V below can reach 45mW, through the use of reflective layer, thermal resistance can be reduced to 7k/w.
♦ US team develops high efficiency deep ultraviolet led, lowest wavelength record in entrepreneurial world
This March, Cornell University's research team developed a small and more environmentally-friendly dark ultraviolet LED light source, and the current industry deep-uv led the lowest wavelength record. The researchers used the atomic-level control interface of gallium nitride (Gan) and aluminum nitride (AlN) Monolayer films as the reaction area, successfully emitting dark ultraviolet LEDs with wavelengths ranging from 232 to 270 nm. This 232 nm of deep ultraviolet rays, set to use gallium nitride as a luminescent material, emit the shortest wavelength of light recorded. The previous record was 239 nm by the Japanese team.
♦ National Starlight through special molding process can improve UV LED opticalpower
For the market to improve the requirements of optical power, Kousin in 2017 Guangya exhibition during the new launch of a cost-effective, high light power of a lens-shaped UV LED. According to the introduction, it is based on the original top bracket, through the special molding process to increase the hemisphere lens, the highest can improve the ultraviolet led optical power 60%, to ensure that the product performance in the process of better.
♦LG Innotek developed the world's first "100mW" germicidal Ultraviolet uv-c LED
LG Innotek developed the world's first UV UV (ultraviolet rays, UV)-C LED, output power up to 100 MW (MW). LG Innotek has broken the technology limit by using the epitaxial structure and vertical chip technology of maximizing optical output. Improve UV output, effective emission heat, ensure stable quality feasibility. 100mW 1 LEDs can emit strong germicidal ultraviolet rays for up to 10,000 hours.
♦ Qingdao Technology Breakthrough again, successfully launched 3 watts UV-C LED lights
December 22, Uv-c Jason again announced the launch of the 3-watt-level super large output power 275 nm deep ultraviolet led lamp. After the GB calibration of the integration ball Test, the 275 nm uv-c dark ultraviolet LED light output power in 3.6 amperes direct current to achieve 3 watts of light output power. It is expected that this 3 watt-grade UV-C LEDs Lamp will have a working life of up to 5,000 hours.


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A large baby formula manufacturing plant in Ontario says it is looking to sell its products in Canada and China and has already made preliminary submissions to Health Canada as part of the regulatory approval process.
But even when it does get final certification to sell in Canada, Canada Royal Milk says the formula will not address current baby formula shortages, as its products will be for infants aged 12 months and older.
This won’t help parents of babies too young to ingest anything but breast milk or baby formula who have been left scrambling due to a U.S. shortage of infant formula — a phenomenon affecting the availability of some specialty formulas in Canada.
That’s why some experts say regulatory hurdles hampering Canada’s ability to produce its own baby formula, highlighted by the recent shortage, is part of a bigger political issue.
Canada Royal Milk, a Canadian subsidiary of the China-based company Feihe International Inc., built a $332-million plant in Kingston, Ont. that was completed in 2019. This investment from the Chinese company marked the first manufacturer of note for infant formula in Canada, according to the federal government.
The plant will use significant volumes of cow and goat milk to produce fortified cow milk powder, whole goat milk powder and skim goat milk powder for infants. But despite several reports to the contrary, Canada Royal Milk has not yet started manufacturing baby formula at the Kingston facility. The company is still in the process of preparing submissions for approval of infant formula for both the domestic and Chinese markets, said Carey Bidtnes, human resources manager for Canada Royal Milk.
“The plant was established to manufacture infant formulations primarily for export, and our website including the company description reflects this. However, the production of infant formula can only begin when the regulatory requirements are met.”
U.S. baby formula shortage affects Canadian market
The Canadian clinical trial for the company’s cow dairy infant formula is complete, and the company has submitted documents to Health Canada as part of the necessary pre-market notification process, Bidtnes said.
Health Canada confirmed it has met with Canada Royal Milk to discuss submission requirements, but has not yet received a complete submission for review. The company plans to complete a full submission to Health Canada by the end of the month, Bidtnes said.
“Upon receiving approval, (Canada Royal Milk) has the capacity to begin production of infant formula for the domestic market immediately.”
Baby formula shortage concerns
The nationwide shortage of baby formula in the United States has prompted concerns about supplies of formula in Canada. The shortage was triggered by the February shutdown of Abbott Nutrition, a key infant formula manufacturing plant in Michigan, which was closed due to a massive recall of some of its products.
Most of the baby formula available in Canada comes from the U.S. In 2021, infant formula was the top U.S. dairy product exported to Canada, representing 22 percent of total U.S. dairy products sold to Canada, according to U.S. agriculture department data.
On Tuesday, Prime Minister Justin Trudeau said Canada’s supplies remain “fine” for now, but Health Canada said last week certain provinces were running low on some specialized baby formulas for infants with food allergies and some medical conditions.
Health Canada “immediately recognized” the temporary closure of the U.S. manufacturing plant would result in shortages of infant formula, which is why it adopted an interim policy recommending the Canadian Food Inspection Agency (CFIA) to “temporarily exercise enforcement discretion with respect to certain labeling and composition requirements” for baby formula products imported from other countries, according to a statement the agency provided to Global News.
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The agency has also extended a temporary plan to import more baby formula from Europe to bolster domestic supplies.
“Health Canada wants to assure everyone that all products imported to mitigate the shortage and for which CFIA will apply discretionary enforcement are safe. These are from countries that have regulatory and manufacturing standards that are similar to those in Canada,” Health Canada said in its statement.
‘Dairy politics’ to blame for Canada’s vulnerable formula supply: expert
The U.S. shortage is raising questions about why the baby formula market is so concentrated and how the closure of one plant can wreak such havoc on supplies of an essential need for millions of families.
Sylvain Charlebois, a senior director of the Dalhousie University agri-food analytics lab and an expert in food distribution and policy, says Canada’s infant formula supply is far less stable than the prime minister’s comments suggest. He believes “dairy politics” are to blame.
Trade rules stipulate that Canadian companies are not allowed to ship baby formula to the U.S., while Canada’s supply-management dairy regulation system has highly restrictive tariffs on American imports of U.S. dairy products. This tension between American and Canadian dairy trade has left infant formula supplies “highly vulnerable,” Charlebois said.
“The baby formula market is not all that attractive, to be honest, because it’s a shrinking market. Birth rates in both Canada and the U.S. are shrinking, that’s why there has been a lot of (industry) consolidation and no one has thought very seriously about baby formula in Canada,” he said.
“Long-term, dairy politics have to be addressed on both sides of the border, and supply management is a big thorn. For the Americans it would mean (getting) more foreign dairy products into the Canadian market, and in return, we could actually have a plant in Canada…that could export to the U.S.”
In the meantime, Canada could become less reliant on American formula companies by working with Canada Royal Milk in Kingston and have them produce more baby formula for the domestic market, Charlebois suggests.
“China has invested in Canada, I think we should befriend the Chinese plant and actually work with them in order for that plant to serve the Canadian market as well as China.”
As of May 2020, Canada Royal Milk had plans to produce 30,000 metric tonnes of baby formula in Canada from cow’s milk and a separate operating line using goat milk, according to a briefing note prepared for Canada Agriculture Minister Marie-Claude Bibeau.
But the company says under Canada and FDA regulations it will only begin by manufacturing “stage three” and “stage four” formulations of baby formula, which can only be used for infants 12 months of age and older.
“This does not address the current shortages,” Bidtnes said.
However, the company is in the process of preparing a submission to Health Canada for a required pre-market review for formula for babies under 12 months.
© 2022 Global News, a division of Corus Entertainment Inc.


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Tesco Corporation (USA) (NASDAQ:TESO) reported a wider net loss for the fourth quarter as the top line plummeted 61%. The company’s adjusted loss not only widened on YOY basis but also fell shy of the Street analysts’ predictions. Its revenue also slipped and came in below the Street expectations. On top of this negative news, the company’s board also decided to suspend its quarterly dividend as part of its plan to cut down its expenses.
4Q Loss Widened
Tesco Corporation (USA) (NASDAQ:TESO) said that it suffered a net loss of $78.1 million or a loss of $2.0 a share in the fourth quarter, which was wider than a net loss of $2.1 million or a loss of five cents a share in year-ago quarter. Excluding adjustments, its net loss would have been $13.4 million or a loss of 33 cents a share versus a net loss of $4.8 million or a loss of 12 cents a share in the fourth quarter of 2014. Street analysts’ predicted a loss of 32 cents a share.
The company’s top line plunged 61% to $52.2 million in the fourth quarter from $134.5 million in the previous year quarter. Wall Street estimated the company to deliver revenue of $56.37 million. Sequentially too, the drop in revenue was 15% blaming the lower activity and weaker revenues in Latin America and North America for its rental and AMSS offerings.
Preservation Of Cash
Tesco Corporation (USA) (NASDAQ:TESO)’s decision to suspend its five cents a share quarterly dividend would enable it to conserve about $8 million of cash per year. It was part of a wider plan to cut down its costs, capital expenditures, and working capital. Its CEO, Fernando Assing, said that it would continue to place its business under the hypothesis that the market will continue to remain lower for a long period than one would have expected.
Tesco Corporation (USA) (NASDAQ:TESO)’s CEO said that its immediate objective was to become cash flow neutral. He said that for the purpose of its safety record, its product quality, as well as, service besides the technology would position it to gain more market share. The company would also adapt its business models to establish a competitive, as well as, sustainable firm.