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The full specifications of Xiaomi 13 and 13 Pro have been revealed
As you probably know, Xiaomi plans to unveil the Xiaomi 13 series phones tomorrow in China. Therefore, naturally, many reports have been published about these phones in the past few days. Now, thanks to a new report, we can safely look at all the specifications of Xiaomi 13 and 13 Pro. Yesterday, Xiaomi officially announced that these phones will be equipped with Snapdragon 8 generation 2, RAM based on LPDDR5X technology and memory. They use UFS 4.0. Xiaomi 13 uses a 6.36-inch AMOLED screen with FHD+ resolution and 120 Hz refresh rate, while the Pro model will be launched with a 6.73-inch screen with 2K resolution and 120 Hz refresh rate. The maximum display brightness of the Pro model reaches 1900 nits, which is a very high number. According to the official published images, the standard model has a flat screen, but the Pro model has curved edges.
In terms of the camera module, Xiaomi 13 has a 50-megapixel main camera, a 12-megapixel ultra-wide and a 10-megapixel telephoto. will provide. On the other hand, although Xiaomi 12 Pro is also equipped with a 50-megapixel main camera, it uses a much better sensor for this camera. At the same time, we should not forget to use 50 megapixel ultra wide and 50 megapixel telephoto.
Energy Xiaomi 13 is powered by a 4500mAh battery that supports 67W charging speed. But buyers of the Pro model will benefit from a 4820 mAh battery, which will be charged much faster thanks to the support of 120W charging. In the meantime, we should mention the support for 50-watt wireless charging and 10-watt reverse wireless charging. For users who care about the waterproofness of the phone, we must say that both phones apparently use a waterproof body with an IP68 certificate.
The weight of Xiaomi 13 reaches 189 grams, which has a thickness of 7.98 mm. The weight of the model with a leather back panel is 185 grams and it reaches users with a thickness of 8.1 mm. The Pro model is naturally heavier and therefore uses a body with a weight of 229 grams and a thickness of 8.38 mm. Of course, its leather model is a little lighter and thicker. In any case, we will meet these phones tomorrow, so we don't have to wait long.Buy the most popular Xiaomi phones from SafirSoft
- Xiaomi 13 passed the iPhone 14 Pro Max in the battery test >


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Vietnamese dragon fruit exports fell by 10 per cent in the first 11 months of 2020 because of the Covid-19 pandemic but still dominated the country’s fruit exports with shipments of more than $1 billion.
But the story Vietnamese consumers know about dragon fruit is not its billion-dollar export, but the need for rescue almost every year by authorities as they land in the market at dirt cheap prices.
In Ho Chi Minh City the fruit would then sell for 7,500 dong ($0.33) per kg or even 6,600 dong.
This is because of the overwhelming dependence on the Chinese market. While it is now also exported to new markets such as the US, the EU, Japan, Australia and South Korea, China still accounts for 92.3 per cent of exports.
Thus, whenever there is any problem in the Chinese market such as Covid-19, the repercussions will immediately be felt in Vietnam.
Moreover, it is not a favourite fruit in Vietnam.
But people in China especially like the fruit thanks to its beautiful red colour, which makes it suitable for worshipping.
In the past the supply of dragon fruit was limited, and it used to cost 50,000-60,000 dong per kg, fetching great benefit to growers.
Compared to rice, it was very profitable, and farmers massively increased the area under the fruit and output, and the inevitable consequence has been lower prices.
According to the Ministry of Agriculture and Rural Development, the area under the fruit now is about 57,000ha and output is more than 500,000 tonnes, both up 20-fold from 10 years ago.
To increase the value of the fruit, achieving excellence at every step in the value chain is critical to the long-term commercial success of premium fruits, experts said.
This year five tonnes of red-flesh dragon fruit were taken to Australia for a promotional event.
Australia permitted import of Vietnamese dragon fruit in July last year after more than nine years of negotiations.
It is the first and still only country to sell this fruit to Australia.
The promotion of the fruit was meant to grasp an opportunity to create a sustainable position in one of the most demanding markets in the world.
VIET NAM NEWS/ASIA NEWS NETWORK

domain: news


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Over the past few months, many of us are still trying to get used to this “new reality” of stay-at-home orders and business closures. Recently, Extensiv hosted a group of experts to discuss how to manage the changes impacting the logistics and ecommerce industry, how this is affecting 3PLs, and how to maintain operational excellence.
Whatever you call it, this new landscape has drastically changed how we buy things and our delivery expectations.
Declining B2B Retail Sales
While consumers turn to ecommerce options to stock refrigerators and pantries, March saw an 8.7% decline in retail sales with clothing and accessories stores seeing a plunge of 50.5% in sales. Just yesterday, J.Crew Group became the first national U.S. retailer to file for bankruptcy since the coronavirus pandemic. However, during the past few years we have seen a number of retailers go out of business such as Toys “R” Us, Sports Authority, Payless Shoe Source, and Gymboree.
In fact, retailers will be some of the hardest hit this year with an anticipated 77% downside in sales.
Accelerating Digital Engagement and Ecommerce Activity
Buying online isn’t necessarily a new trend. Last year, Amazon had $7.16 billion in estimated gross sales on Amazon Prime Day alone and an average of 41% of consumers receiving one to two packages from them per week. While Amazon may have paved the way to shape online consumer expectations, there is a silver lining for omnichannel retailers looking to take advantage of this latest landscape. Walmart and Target are just a few retailers who now offer curbside delivery in addition to an increase in online sales. Expectations are that these trends will continue with a 420% increase in shoppers saying they will buy online with store pick up compared to what they currently do.
As consumers continue to develop their online shopping behaviors, third-party logistics warehouses must prepare to support these new buying trends for their customers. Most can accomplish this by reducing manual processes for small parcel picking, packing, and shipping by implementing paperless best practices. As online shopping rises, so does the need for 3PLs to quickly fulfill higher order volumes with repeatable and scalable workflows.
In addition to the need to support omnichannel buying habits, there has been a noticeable change in not only how they buy but what they buy.
COVID-19 Changed Ecommerce Buying Habits
Many of us have heard of, or even experienced, the hoarding buying habits for certain items such as toilet paper, canned food, paper towels, household cleaning products, and bottled water. But what about the surges in home fitness products, computer accessories, and office furniture? With work-from-home policies still in full effect for most of the country, the need to work comfortably and stay fit has impacted buying habits.
Some changes seem expected like the increases in-home entertainment, food delivery, and take-out. The same can be said of declines in travel, public transportation, or apparel. However, there have been some unexpected changes as well. These include bread machines (+652%), digestion and nausea medicine (+144%), or ping pong tables (+89%).
Warehouses who support a variety of customers must prepare to handle unexpected surges in order volume for even the most unlikely of items. In fact, these unforeseen buying habits can impact a 3PL just like a peak season when a warehouse must deliver optimized and efficient results under pressure.
Be Prepared with WMS Connectivity
In today’s buying climate, warehouses need to support their customers wherever they sell, and they must do so seamlessly. 3PLs must integrate their warehouse management system (WMS) with shopping carts, shipping labels, accounting software, transportation management systems (TMS), and more in order to stay competitive.
And no one knows that more than our customers who are experiencing an 81% increase in order volume compared to this time last year.
If you’re interested in speaking with one of our 3PL logistics experts contact us today to schedule a time to chat.


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Ubisoft confirmed that there will be no new Assassin's Creed game in 2019, taking a break after Assassin's Creedy Odyssey comes out later this year.
Ubisoft CEO Yves Guillemot was at Gamescom this year to confirm the hiatus. "On Assassin's, we had a game [in 2017] and we have one this year, but we are not going to have a full-fledged Assassin's next year," Guillemot told GameSpot. "It's just because the team were working separately, so we have two games now, one year after the other. But next year you're not going to have a fully-fledged one."
Assassin's Creed is one of the biggest games in the Ubisoft stable and has been a mostly yearly franchise since Assassin's Creed 2 in 2009. Since then there has been a full Assassin's Creed game almost every year (there was a break in 2016 as well).
While some expected Assassin's Creed to take a break after Origins, Guillemot explained Odyssey's 2018 release as more of a byproduct of the fact that Origins and Odyssey were being worked on at the same time by two separate teams.
Guillemot says that instead of a sequel next year, Ubisoft is doubling down on regular post-launch content for Odyssey. "What you'll have is lots of content coming on [Odyssey]. The team really want to give, on a regular basis, some new possibilities for play, so when you get [Odyssey] this year, you're going to get in for a couple of years, actually."
Post-launch content has been a boon for Ubisoft, particularly in games like Rainbow Six Siege. At various times, Guillemot has stressed that Ubisoft will be investing more in post-launch content to keep gamers engaged with a single title for longer.
Considering that from what we've seen so far of Assassin's Creed Odyssey and how the game is venturing into heavy RPG fantasy territory, we imagine there's a lot of Greek history and myth Odyssey can mine for post-launch content.
For more check out our Assassin's Creed Odyssey guide for the latest previews, news, and trailers. Assassin's Creed Odyssey is coming out on October 5 for PS4, Xbox One, and PC.


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Jennifer Aniston did not start a clothing company, despite a story from exactly one year ago today that maintained the actress was branching into fashion. Gossip Cop said the claim was a complete fabrication when it was first published, and time has further confirmed our reporting. It’s clear now the former “Friends” star didn’t create a clothing line for the Home Shopping Network, as falsely alleged by a tabloid 12 months ago.
On October 26, 2017, OK! swore up and down that Aniston was joining forces with Sheryl Crow to launch a fashion company on HSN. And while it’s true the singer has a deal with the cable network, the actress never teamed up with Crow to “design and sell” a collection together, as claimed by an unnamed, untraceable and almost assuredly made-up source. At the time, the supposed tipster asserted Aniston wanted to create a line of clothes for HSN because she wanted to make money “outside of acting.”
The magazine’s alleged insider contended Aniston felt doing a clothing company would be a “no-brainer” since she has so many fans, and even noted she would have no problem “hawking the collection on-air.” As Gossip Cop pointed out back then, strikingly omitted in the tabloid’s article were any specifics, including when the apparel line would be available or what types of clothes Crow and Aniston wanted to design. No one at HSN could confirm the magazine’s claim 365 days ago when we investigated it. Additionally, Aniston’s rep told Gossip Cop neither her agents nor manager knew anything about the purported business plan, and they would be the ones involved in any discussions, if it were real.
Gossip Cop determined the magazine’s premise was untrue when we fact-checked it last year, and it’s even more apparent now the tabloid’s entire tale was cut out of whole cloth. Since the bogus report about Aniston launching a clothing company on HSN, OK! has spun many more yarns about Aniston, based on unreliable sources. And Gossip Cop has exposed and busted each and every one of those falsehoods.
In May, for instance, the magazine ran a cover story that Aniston was pregnant with Brad Pitt’s baby. That was a lie. And just two months ago, Gossip Cop shot down the same publication when it blared on its front page that Aniston and Pitt were engaged. That, too, was a lie. Simply, the tabloid makes up a lot of tales about Aniston, which are provably wrong now and will remain so in a year from now and later.


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Suspicious Clothing Donation Boxes Surface on the Lower East Side
This image has been archived or removed.
A suspicious donation box on Norfolk St.
You may have noticed the rash of rogue drop boxes popping up around the Lower East Side the last few days. In just under an hour, we spotted no less than five pink collection bins (Ludlow, Norfolk, East Broadway, et al). Each donation box is stenciled with “Our Neighborhood Recycling” and “clothes shoes drop.”
The proliferation is not solely relegated to Manhattan, though. Some residents in Queens told the local Times Ledger that they’re worried about whether the goods donated are actually going to legit charities. Dozens of complaints were made to local electeds there some six months ago.
There is a phone number included front-and-center that belongs to an organization called “Our Neighborhood Recycling.” We weren’t able to connect with anyone at this number, and their mailbox is currently full. Times Ledger apparently did talk with someone who said only that the goods are “shipped overseas.”
A woman who answered a call placed to the phone number on the box said Our Neighborhood Recycling ships the clothes overseas but hung up without giving more details. Community leaders said they fear whomever is placing the boxes around the neighborhood is taking the clothes donations and selling them for personal profit.


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Last week, the Food Standards Agency (FSA) announced changes to its advice about how consumers can eat eggs. Now, FSA says that it is safe for infants, children, pregnant women and elderly people to eat raw or lightly cooked eggs that are produced under the British Lion Code of Practice.
The revised advice is based on new scientific evidence. Previously, infants, children, pregnant women, elderly people, those vulnerable to infection and other health issues as the result of foodborne illness were not advised to consume raw or runny eggs. That now outdated advice was based on the fact that eggs contain Salmonella bacteria, which can cause food poisoning.
There are exceptions to FSA’s new advice, though. Individuals categorized as “severely immunocompromised” and who require special diets should still follow the agency’s previous advice on egg consumption.
Here is an excerpt from FSA’s announcement:
The decision to change the advice is a result of the findings from an expert group that was set up by the Advisory Committee on the Microbiological Safety of Food in February 2015 to look at egg safety. Its report, published in July 2016, highlighted that the presence of Salmonella in UK eggs has been dramatically reduced in recent years, and the risks are very low for eggs which have been produced according to food safety controls applied by the British Lion Code of Practice. More than 90% of UK eggs are produced under this scheme.
Heather Hancock, Chairman of the Food Standards Agency, said: “It's good news that now even vulnerable groups can safely eat UK eggs without needing to hardboil them, so long as they bear the British Lion mark. The FSA has thoroughly reviewed the scientific evidence about the safety of these eggs, and we're confident that we can now change our advice to consumers.
“The major reduction in the risk of Salmonella in Lion eggs is testament to the work carried out by egg producers. The measures they've taken, from vaccination of hens through to improving hygiene on farms and better transportation, have dramatically reduced Salmonella levels in UK hens.”
A range of interventions have been put in place across the food chain as part of the Lion scheme including vaccinating hens, enhanced testing for Salmonella, improved farm hygiene, effective rodent control, independent auditing, and traceability, and keeping the eggs cool while transporting them from farm to shop.
When consuming raw or runny eggs, FSA advises the public to be mindful of proper storage, hygiene, handwashing and to pay attention to expiration dates.
A Closer Look at Egg Safety
Egg Safety: Avoiding Shell Shock at Retail
An FDA Update on Egg Safety


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BERLIN (Reuters) – United Parcel Service Inc. plans to invest 1 billion euros ($1.06 billion) in Europe to expand its package delivery network, German magazine
ABU DHABI, April 12 (Reuters) – Iran’s Arabic-language state TV network Al Alam said on Sunday its Twitter account had been hacked and a false
QuartzChina's aggressive new censorship weapon can cripple your websiteQuartzChina has acquired a powerful new weapon in its efforts to strictly control internet access and content.
InformationWeekApple Watch Sells Out QuicklyInformationWeekCustomers may now try the Apple Watch on in stores, but they will need to place orders online. 10 Apple Acquisitions:


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“Already buying TV? Make those ads work harder with Twitter” claims the company’s promotional pitch to big brands. Indeed, Twitter just launched in the US and the UK a new feature called TV conversation targeting. This new tool has the capacity to expand TV ads scope giving the opportunity to networks and brands to engage even more with consumers. A Promoted Tweet could not only reach those who watch specific TV shows but those who are actually talking about the show.
Here is what you can read in Twitter’s blog : “Earlier this year we launched TV ad targeting for US advertisers, which broadens the reach and power of a brand’s television advertising by extending the brand message to Twitter users who we believe have been exposed to the same TV ads. Today we are announcing an expansion to our TV targeting suite. The newest feature,TV conversation targeting, now generally available to all US and UK advertisers, makes it easy for networks and brands to connect with Twitter users already engaged with TV.”
Furthermore, a study made by Pew Internet & American Life Project report proved that roughly 50% of people use their phone while watching TV. It is sometimes to keep them occupied during commercials, to text someone watching the same show, to check information they just heard on TV, to get more info about the show they are watching etc. This revelation surely motivated Twitter. The company understood that it could add a new aspect to its features by driving more interactive advertising.
The social network company claims to be highly complimentary with TV and by working closely together they could enhance users, networks and advertisers experience. Twitter also launched an experiment to prove their points. The results were quite positive as it seems that when paired with TV commercials its Promoted Tweet managed to deliver 95% stronger brand message association, 58% higher purchase intent, from 8 to 16% more sales and less than 36% customer acquisition cost.
The future of television might be in your phone. “TV x Twitter : making each other better.”


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|Bid||125.43 x 1300|
|Ask||125.87 x 800|
|Day's Range||124.86 - 127.09|
|52 Week Range||105.36 - 142.60|
|Beta (5Y Monthly)||0.70|
|PE Ratio (TTM)||31.22|
|Earnings Date||Jan 26, 2022|
|Forward Dividend & Yield||1.88 (1.49%)|
|Ex-Dividend Date||Jan 13, 2022|
|1y Target Est||145.18|
Subscribe to Yahoo Finance Plus to view Fair Value for ABTLearn more
Investment company Harrington Investments, INC (Current Portfolio) buys Pfizer Inc, AerCap Holdings NV, sells Chubb, Abbott Laboratories, JPMorgan Chase, Danaher Corp, Shopify Inc during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Harrington Investments, INC.
When it comes to underrated healthcare stocks that smart investors love, Abbott Laboratories (NYSE: ABT) takes the cake. On the contrary, it's exactly Abbott's willingness to compete in these spaces that makes the company one of the sturdiest. Given that Abbott has a market cap of about $238 billion and trailing revenue of $42.3 billion, it shouldn't surprise anyone that the business sometimes struggles to grow as aggressively as a smaller competitor might.
With the latest surge in COVID infections due to the more contagious Omicron variant, Abbott (ABT) is expected to report sequentially stronger diagnostics results for the fourth quarter.


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AT&T Inc’s third-quarter video losses sent pay-TV industry shares down on Thursday. Wall Street analysts are raising concerns about the continued threat of consumers cancelling their cable and satellite television subscriptions. The No. 2 U.S. wireless carrier said Wednesday that it lost 90,000 U.S. video subscribers. “It should be clear that [at&t], like all of its cable peers, is suffering from the ravages of cord-cutting,” says Craig Moffett, analyst at MoffettNathanson. The losses come after more options have entered the market that allow consumers to stream television over the internet at a cheaper price than paying for cable.
This video was produced by YT Wochit Business using http://wochit.com


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The Federal Express Corporation is learning to greet customers in many different languages around the world, but some replies have been unfriendly.
The company acquired the Flying Tiger Line for $880 million in February, and merged with the 44-year-old carrier on Aug. 7. The move gave Federal Express the legal right to fly highly coveted international air freight routes to 21 countries, but has also forced it to deal with a cosmopolitan class of merchant it has mostly driven out of business in the United States: freight forwarders.
These are people who own no planes and few trucks, but contract out to deliver shipments from a customer's door to virtually anywhere in the world. They book cargo space aboard aircraft and ships, fill out bills of lading and customs statements, hire trucks and negotiate solutions to the many bureaucratic and practical obstacles that can slow the movement of freight.
Federal Express and such rivals as Airborne Express, Burlington Air Express, DHL Worldwide, Emery Worldwide and United Parcel Service have grown into giant corporations by providing these services directly to customers in the United States, while operating their own planes as well. But cultural and political barriers have protected freight forwarders until now in the international air freight market, and Flying Tiger has relied almost entirely upon them.
Some freight forwarders are worried that Federal Express will try to work around them, dealing directly with corporate shippers to increase its sales and profits. Company executives are talking to freight forwarders around the world to allay their concerns and are promoting a new policy on heavy air shipments that requires shippers to use freight forwarders.Continue reading the main story
Nevertheless, since Federal Express's acquisition of Flying Tiger, a few concerned freight forwarders have taken their trans-Pacific business elsewhere, and more freight forwarders have moved their trans-Atlantic shipments to other carriers, said James L. Barksdale, the chief operating officer of Federal Express. He declined to provide figures, but said that the totals were not large and that Federal Express did not plan to cut fares to retain customers.
The difficulty with freight forwarders is the most visible problem Federal Express faces. Other problems include union efforts to organize its workers; complaints from some customers that the merger has gone too quickly and that service has suffered as a result; slowly growing competition from passenger airlines, and the rising use of facsimile machines.
Despite these problems, Federal Express showed only a slight dip in profits for the 12-month period ending May 31. It earned $184.5 million on sales of $5.2 billion in that period, compared with $187.7 million on sales of $3.9 billion in the year before. Flying Tiger had an income of $89.5 million last year on sales of $1.4 billion. Reassurance Offered
Federal Express executives have visited several hundred freight forwarders in the last month, Mr. Barksdale said, to reassure them that the company would not try to steal their clients.
In addition, Federal Express has announced that beginning on Oct. 1, all customers must use a freight forwarder for international shipments weighing more than 150 pounds. Federal Express would pay a commission to a freight forwarder even if the customer insisted on dealing directly with Federal Express, Mr. Barksdale said. ''That's the difficult part, obviously - enforcing our own discipline,'' he said.
Federal Express is wooing international freight forwarders because they have the personal connections needed to do business abroad. ''It's not a cold computer deal, it's a warm personal thing,'' said Lawrence L. Rodberg, chief executive and president of Eden Air Freight, a domestic and international freight forwarder based in Irvine, Calif. ''You can't get robots doing the international thing, even after 1992,'' when the economic integration of Europe should lower barriers to trade there, he added. Routes in Short Supply
For some shipments, freight forwarders have little choice but to do business with Federal Express. International air routes are negotiated bilaterally by countries and are in short supply in some regions. Federal Express was willing to pay what is generally considered a high price for Flying Tiger because Flying Tiger had carefully accumulated such routes over the last four decades.
It would have taken Federal Express ''40 years to build that thing a route at a time,'' said Theodore R. Scherck, president of the Colography Group, an expedited freight consulting firm in Marietta, Ga.
''The acquisition tends to consolidate the available cargo space to Japan,'' said Donald W. Layden, the senior vice president of international operations for United Parcel Service, which is seeking permission from the Department of Transportation to fly more of the available routes.
The shortage of available capacity on flights to and from East Asia has made it difficult for some forwarders to defect. ''There are some agents who have indicated they would like to shift more of their business, but we can't capitalize on that,'' said David W. Behrends, the vice president for cargo at Northwest Airlines, which is the largest American carrier of freight in the Pacific after Federal Express. ''We were really full in both directions - the problem is, you can't be fuller than full.''
If capacity were available, the airline could sell an extra half-million freight ton-miles a month - the equivalent of a Boeing 747 freighter carrying 110 tons from Tokyo to Seattle once a month - to freight forwarders unhappy about the Flying Tiger merger, Mr. Behrends said.
Federal Express is ''saying they'll never go after the direct sell internationally,'' but that may not hold true given the company's expertise in dealing directly with customers, said a major freight forwarder who has moved all his domestic shipments from Flying Tiger to other carriers since the merger. The forwarder asked not to be identified becaues he still uses Federal Express for trans-Pacific flights, where he has few or no alternatives.
Freight forwarders are suspicious because, as Mr. Scherck of the Colography Group said, ''Federal is in the express business trying to put all those guys under.'' 'Like the Dinosaur'
Freight forwarders have seen their share of the nation's $11 billion air freight business fall to 8 percent from 94 percent 11 years ago, said William R. Boesch, American Airlines' vice president for cargo. ''The American-owned freight forwarder is becoming unfortunately like the dinosaur,'' he said. ''It is becoming extinct.''
Federal Express is trying to woo its own pilots at the same time it is wooing freight forwarders. Although the 1,070 pilots at Federal Express are not unionized, the 930 at Flying Tiger have been represented by the Air Line Pilots Association. The National Mediation Board ruled on Aug. 4 that all 2,000 pilots should vote on whether they want to be represented by the A.L.P.A.
The work rules associated with most A.L.P.A. contracts would hinder the ability of Federal Express to provide punctual and economical service, said George V. Robertson, a transportation analyst with Alex. Brown & Sons Inc., a Baltimore brokerage. ''The way these guys give the kind of service they've always given has been to be flexible,'' he said. 'A Reasonable Shot'
The A.L.P.A. has been holding meetings and open houses to organize the pilots. ''We feel we have a reasonable shot at it,'' said John F. Mazor, a union spokesman. Federal Express opposes unionization. ''We believe we have earned the right to represent our pilots,'' Mr. Barksdale said. But the company will recognize the A.L.P.A. if it wins the vote, he added.
Allowing the A.L.P.A. onto the premises could slightly reduce Federal Express's advantages over commercial airlines, which are trying to expand their air freight businesses.
For a mixture of political and business reasons, however, domestic and foreign passenger air carriers say they are unlikely to bypass forwarders and deal directly with customers.
Another worry for Federal Express is the facsimile machine, which sends electronic images of documents over telephone lines. Its rapidly expanding use has ''slowed down growth of the overnight letter business,'' Mr. Barksdale said. But demand has not actually dropped, he added.
The immediate effort, Mr. Barksdale said, is to persuade freight forwarders that ''we have no tricks up our sleeves.''Continue reading the main story


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The meeting between President Clinton and President Jiang Zemin at the APEC convention helped to thaw the recent chill in U.S.-China relations. Though they made no tangible progress toward U.S. approval of China's bid to enter the WTO, they did agree to the resumption of negotiations. The APEC summit reopened the discussions on China's WTO entry but with limited expectations of a quick resolution.
The next round of WTO talks are scheduled to begin on November 30, placing a deadline on China's possible entry. The real time limit exists in the need for Congress to approve U.S. support for China's entry to WTO before it recesses in November, making China's entrance before the 'Millenium Round' of WTO negotiations highly unlikely. If China is not a member by November, the country will miss out on the opportunity to participate in important negotiations regarding the progressive liberalization of the service sector, and it is uncertain at what point in the future China might again try to gain membership in WTO. All negotiations are being kept confidential until an agreement is reached.
Currently, the main points of contention are the timetables by which WTO member countries must open their markets in industry, agriculture, and services, and China's reduction of tariff rates to meet global norms. The U.S. has also raised specific demands regarding market access for financial services and the telecommunications industry. The Chinese have already agreed to make sharp cuts in farm and industrial tariffs, and to begin the opening automobile, telecommunications, and banking industries to foreign competition. At the same time, the Chinese economy (particularly state-owned enterprises) is facing many problems. If China cannot enter the WTO as a developing country, it may be in the country's best interest to remain outside the organization, allowing it to maintain its protectionist measures and nurture the economy rather than threaten it with international competition.
Responding to the possibility of not joining the WTO, China has moved to give slightly more freedoms to foreign capital. China is trying to attract multinationals through trade promotion programs, and is expanding bilateral trade deals with many of its trading partners. China is walking a fine line between opening its markets too quickly to international competition, which could destroy the domestic firms, and protecting its domestic markets, which hinders trade. As such, WTO membership may not occur, but certain trade deals may be possible as China seeks to maintain its state-owned enterprises and domestic markets, while engaging in international trade.
Were China to become a member, it would have to conform to WTO standards and end many of its own protectionist measures, which severely hinder international trade. Transparency is one major issue in the WTO, as it is considered an essential ingredient for international free trade. Transparency issues arise in markets such as medical equipment, where a foreign firm's product must pay large fees and pass an battery of tests without the firm being given any information about the tests. Should China not enter the WTO, it will feel much less pressure to end unfair trade practices.
The repercussions of China's remaining a nonmember of the WTO are far reaching, with effects throughout the global economy. The U.S. already has a huge budget deficit in its trade with China, due in part to the fact that China does not have to adhere to the WTO's trade practices. Many U.S. firms cannot compete with China's cheap labor and high government subsidies, which decrease the price of Chinese products. In fact, the American Textile Manufacturers Institute is lobbying Congress to keep protectionist quotas on Chinese competitors beyond the present 2005 deadline until 2010. Such protectionist measures hinder free trade and are counter to the ideals of the WTO, but as China is not a member of the WTO, the U.S. feels it must take these measures to ensure the strength of its own market. As such, WTO entry is an issue of vital importance for the future of U.S.-China economic and political relations.


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Buyer: Nagano Keiki Co., Ltd.
Seller: KPS Special Situations Funds
Target: Ashcroft Holdings
Price: $55 million
Financial Advisor: Seller: UBS
Legal Advisor: Buyer: Paul Weiss; Seller: Morrison & Foerster
Dresser makes pressure gauges, transmitters and temperature switches along with a host of other devices. Asked why he didn’t hold the company longer and wait for a bigger return, KPS managing principal Michael Psaros said, “If we held it longer, we could have substantially improved cash flow. However, I don’t know many GPs in the private equity business who’d turn away from an opportunity to double their investment.”
KPS originally bought the company for $34 million. Selling for $55 million and keeping retained cash, the firm actually doubled its money. Numbers from Ashcroft haven’t been disclosed.
Psaros said the turnaround was done so quickly in part because KPS had been preparing to take over the company for the six months leading up to the deal being closed in late November. Up ong closing the deal KPS “hit the ground running.”
UBS ran the auction process and Psaros said that within three weeks of closing on Dresser, KPS was approached by representatives of Mizuho Securities and its U.S. arm, the Bridgeford Group.
KPS implemented its turnaround plan and within 60 days Psaros said KPS had doubled the firm’s run rate. KPS met with Mizuho and representatives of Nagano Keiki Co. Ltd. in late January. At that meeting Nagano issued its letter of intent to buy Ashcroft for $55 million, with KPS keeping retained cash. The offer does not include Ashcroft’s smaller EBRO business in Germany. EBRO is also a measurement business, but with different end users and is now a stand alone business.
KPS has now sold two companies to Japanese strategic buyers in the last six months. The other Japanese transaction was the sale of GFG, a maker of roll coating equipment, to Mitsubishi-Hitachi Metals Machinery last year. Psaros, who describes himself as something of a Japanophile, minored in Japanese at Georgetown as an undergrad and also attended a summer program there.
“In order to sell to a Japanese strategic buyer, everything has to be perfect. You need to wrap it up in a beautiful package as if you bought the company at [Japanese department store] Mitsukoshi ,” said Psaros. “Everything has to be perfectly functioning. It took a lot of work to extract this business from Dresser.”
The deal is KPS’s sixth investment out of its second fund, which by the end of this year will be more than 50% invested, said Psaros. So far KPS has returned its invested capital on four of the fund’s six investments, “basically within a year.”
Psaros said he was restricted by the purchase agreement to talk about how exactly KPS turned the business around, but he said that after the close, the company was no longer burdened with the reporting requirements of the larger enterprise and KPS increased revenues and reduced its costs..—M.C.


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Apple seeds Mac OS X 10.6.8 to developersApple has released a new build of Snow Leopard to developers, the first since 10.6.7 in March, and potentially the last before the delivery of Mac OS X Lion this summer.
The new build, identified as 10K521 by MacRumors, reportedly comes without any detail of changes.
Apple previously released 10.6.7 to the public nearly two months ago.
That update was delivered in two flavors, one specifically for Thunderbolt-equipped MacBook Pros identified as build 10J3250, and a general release for other models 10J869.
Mac OS X 10.7 Lion is anticipated to be released at Apple's Worldwide Developer Conference during the first week of June.
On Topic: Mac OS X
- New Office for Mac 2011 update fixes Outlook sync bug with OS X El Capitan
- Third beta of Apple's OS X 10.11.1 El Capitan released to developers, public testers
- Adobe reverses course, says Metal support in After Effects 'one possibility' [u]
- Apple issues second public beta of OS X El Capitan 10.11.1
- OS X El Capitan still exposed to vulnerabilities in Gatekeeper & Keychain, researchers say


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That cup of the tea company's supercaffeinated Morning Thunder may contribute to Ms. Breslin's accelerated cardiovascular rate. But even without the tea, the December graduate of the University of Colorado's integrated marketing communications master's program finds her internship "magical."
"When I pull up in front of thebuilding, I get butterflies in my stomach. I just can't wait to get inside there," the 24-year-old says.
Ms. Breslin hopes to transform her internship, where she has worked with complete autonomy in event marketing, into an assistant brand manager's job in May.
As for the reason she got the internship: "My boss tells me he had a higher comfort level because I came from Boulder's IMC program. He knew I understand targeted marketing synergy and relationship building."
Dan Bowman, 25, who graduated from Northwestern University's IMC program in December 1992, has been able to carve his own niche at Sony Corp. of America in Park Ridge, N.J., despite it being what he described as a "corporation resistant to change."
He started a year ago as a new-business planner working with developing business from new technology.
"I didn't use my degree much for the first few months," Mr. Bowman says, "but now I am moving into a new area of tracking consumer trends and their impact on new products. I can see the two areas converging."
The two universities are at the vanguard of the academic movement toward multidimensional curricula in advertising and public relations, peripheral fields and marketing. Many other universities are jumping on the bandwagon.
The job market definitely has room for these graduates, education and industry experts say.
In a tight market, Northwestern boasts 87% of its first IMC graduating class (December 1992) found jobs by the following September.
Surprisingly, nearly twice as many of the advertising specialty graduates chose corporate jobs in marketing communications as agency jobs.
Forty-two percent accepted jobs in corporate marketing communications; only 23% have gone to ad agencies, 20% to direct marketing and 15% to PR.
Mr. Bowman considered agency work and rejected it with little hesitation.
"What role is advertising going to play in an interactive world where the consumer can decide what to look at?" he asks. "I felt most agencies just aren't enlightened enough. They don't realize the importance of the information highway."
Agencies like Chicago's Foote, Cone & Belding and Leo Burnett USA have never restricted hiring to ad school graduates. Instead, they look for "people with a passion for communication and insatiable curiosity, especially about how people's minds work," says Ashleigh Groce, a former VP at both shops who recently formed her own agency, APG & Partners.
On the other hand, Ms. Groce is an ardent advocate of IMC schools and a "broader-based education."
Tom Duncan, director of the IMC graduate program at the University of Colorado and chairman of an industry task force on integrated marketing communications, says clients are demanding more for their money.
"Clients are no longer content with buying ads and public relations. The focus now is the synergy that makes it all happen," Mr. Duncan says. "We [the schools] have to be more effective and more efficient in what we're offering in the job market."
The program has taken an unexpected turn for him and the 12 members of the university's first graduating class. Several of the December '93 graduates, like Ms. Breslin, already have jobs.
There's a growing trend toward postgraduate education. Those with undergraduate degrees who want jobs as creatives in big agencies are frequently disappointed.
The University of Texas reports only five of 56 advertising majors who graduated in May 1992 are working as creatives, though 53% of the class specialized in creative disciplines.
Walter Lubars, chairman of the School of Mass Communication & Public Relations at Boston University, agrees today's job market isn't easy, but contends, "Good kids always get good jobs."
Bruce Vanden Bergh, chairman of Michigan State University's Department of Advertising, recommends Atlanta's Portfolio Center as a "boot camp" for aspiring creatives ready to launch a job search blitz once they've finished their undergraduate work.
The Portfolio Center has one purpose, says Gemma Gatti, the 15-year-old school's president and founder: to help the student put together a portfolio that will produce job offers.
The slick, student-produced catalog says the Portfolio Center "starts where everyone else stops," attracting 300 "up and coming copywriters, art directors, designers, photographers and illustrators who didn't come here to get a job; they came here to get the job."
But not everyone approves of innovative educational systems.
Betsy Ann Plank, owner of Betsy Ann Plank Public Relations in Chicago, wrote a minority report as a member of the task force that examined integrated marketing communications for two years. She says advertising and PR are often at cross purposes. The marketing aspect of PR "by no means represents the full spectrum of the practice." Issues management, financial public relations, crisis management, employee communications and media relations are among aspects of PR not usually taught in the time-limited IMC programs, she says.
"Advertising today is in some trouble. It needs to shore itself up," she says. "But to try to subsume public relations is not realistic."


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words // Brandon Richard
Before the launch of the CP3.V, the Jordan Brand laces up All-Star point guard Chris Paul with a speed-oriented model for the offseason. The Jordan CP 2'Quick is a low-cut basketball shoe crafted to compliment the strong points in CP3's game. Comprised of patent leather, mesh and synthetic materials, the CP 2'Quick features the usual Podulon cushioning system, an external heel cage for increased stability, lockdown lacing system and honeycomb outsole traction pattern.
After launching next month, you can expect to see the CP 2'Quick drop in new colorways in October. First, a New Orleans Hornets-inspired look that adds Orion Blue and Sunstone accents to a black-based shoe. Additionally, you get a black and orange make-up that will drop right in time for Halloween. The CP 2'Quick will retail for $110.
Color: Black/Sunstone-Orion Blue
Color: Black/Team Orange


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If you’re tuning in to try and watch Google’s Pixel 4 Made by Google event in full, well, you’re too late. The event has come and gone in a momentary blink of an eye, with Google introducing us to the Pixel 4, Pixelbook Go, Pixel Buds 2, new Nest Home Mini, Google Stadia’s release date, and more, all within a single hour. It was an impressive feat, and one we’re not likely to forget for some time — though we didn’t see the Pixel Watch we were looking for.
Don’t worry if you missed all of the news unfolding live, because we’ve covered it all in detail. Here’s where you’ll find all of the big new devices Google announced at the Pixel 4 Made by Google event, as well as links to articles where you can learn more about all of Google’s latest and greatest.
Google’s teased us with sneaky renders and leaks abound, and when time came to finally reveal the new Pixel 4 range, it didn’t disappoint.
It’s fair to say the new design is likely to garner a lot of attention. Dominated by a square camera module on the back, the new look is unlike any other Pixel we’ve ever seen. Gone is the two-tone design that has defined the Pixel range since its inception, replaced with the “Pixel square” — the square camera module on the back.
There’s no fingerprint sensor around the back, and it’s not in the display either — that’s because Google has followed Apple’s example and added advanced facial recognition to the Pixel 4. Google boasts its facial recognition is the fastest method around right now, and that’s because it’s powered by Google’s Project Soli chip. It’s essentially radar, and it can also be used to control your Pixel 4 with hand gestures — so you’ll be able to wave a hand to skip songs or decline a call.
The Pixel 4’s display is pretty special. It’s been awarded a top A+ rating by DisplayMate, while also packing a 90Hz refresh rate. Display size and resolution are some of the few things that separate the two phones, with the Pixel 4 XL’s 6.2-inch feeling substantially larger than the Pixel 4’s 5.7-inch screen. It’s the same display tech though, so you’ll benefit from the stunningly smooth 90Hz refresh rate and sumptuous vibrancy of an OLED panel on both.
The camera has been given a huge upgrade, too. Google has added another lens to the Pixel 4, bringing a 2-times telephoto lens to accompany its standard 12-megapixel lens. That telephoto lens works with Google’s Super Res Zoom to create a zoom function that’s particularly impressive. Google’s HDR+ is getting an upgrade, and the Pixel 4 will use machine learning to ensure what you see in the viewfinder is what you’ll get from HDR+ — something that’s never been possible before. Portrait mode will also now be able to be used on larger objects, and subjects that are farther away.
There’s also a new astrophotography mode that uses multiple exposures to take long exposures of the sky for some truly stunning shots. Machine learning will be used to ensure each shot looks amazing — and Google has promised further updates to the mode to tackle extreme lighting differences. However, the phone will not come equipped with free full-resolution Google Photo storage.
The Google Pixel 4 is available for pre-order today, and will release on October 24. The 64GB version of the Pixel 4 will start from $799, with a 128GB option available for $899. The 64GB Pixel 4 XL will start from $899, with the option for 128GB for $999.
Complementing the new Pixel 4 is the new Google Assistant. Everyone’s favorite A.I. isn’t just about telling you the temperature any more — it can control your phone too. We watched as the Google Assistant was used to open a specific Twitter page, look up concert dates, and share that information with a friend. Interestingly, it didn’t even need a wake word for continued conversation, and it’s clear Google has been improving the way the Assistant recognizes when its being spoken to.
There’s also a new Recorder app, which wouldn’t normally be newsworthy information. But it’s not just any recording app — it automatically transcribes speech while recording, and adds all of that data to a searchable database, allowing you to dive into a recording from a specific point. Best of all, all of that happens without sending data to the cloud.
Read more about Google Assistant 2.0
Say hello to the new Nest Mini. It looks — er — just like the old Google Home Mini.
But it would be cheeky to pretend nothing has changed. There’s now a wall mount so you can attach it to vertical surfaces. The speaker system has been tweaked, adding a third microphone and bass that is two times stronger. There’s also a dedicated processor, so the Nest Mini will no longer need to send data to the cloud for processing — speeding up response time significantly. But the biggest change has to be what it’s made of. It’s still made of plastic, but that plastic now comes exclusively from recycled bottles.
That wasn’t all though, and Google also unveiled a new Nest Wi-Fi system. The new system is a departure from the older one, and now comprises a Nest Wi-Fi home station and a series of signal-bouncing “points” — which also function as smart speakers. With a sleek design, it’s intended to be kept out in the open, not cooped up inside a cupboard.
Google also updated Nest Aware with a subscription service for $6 per month. This new service allows you to keep a close eye on your home, and will alert you if a speaker hears something out of the ordinary — like a smoke alarm — or if a camera spots something odd.
The new Nest Mini is available for pre-order from today in 23 countries, will launch on October 22, and will cost just $49. Nest Wi-Fi goes on sale on November 4. A two-pack sells for $269, while the three-pack sells for $349.
Google’s premium Chromebook, the Pixelbook, was the elite way to access Chrome OS. Now, it’s finally got a successor in the $649 Pixelbook Go.
There are differences between the Pixelbook Go and its predecessor. The Go has a more traditional clamshell form factor, whereas the original Pixelbook was a 2-in-1 — but it’s clear the same spirit rules here. The Go is just 13mm thick and weighs barely 2 pounds — and to make sure it doesn’t float away, the super-light magnesium shell has a rugged, rippled rubber on the bottom. The keys are Google’s new “hush keys,” and the device sports a USB-C charging port and — mercy be — a headphone jack.
The basic version of the Pixelbook Go starts with a dual-core Intel Core m3 processor, but can be upgraded to a Core i5 or Core i7. It also has 8GB of RAM as standard (upgradable to 16GB), and 64GB of storage (upgradable to 256GB). Battery life is a particular focus for Google, and it claims the Go will last for up to 12 hours on a single charge, and two hours of battery life after just 20 minutes of charging.
The Pixelbook Go will be available from just $649, and is currently available for pre-order. It’s available in Just Black and Not Pink.
It’s about time — Google is taking Apple AirPods on with a pair of truly wireless earphones, the Pixel Buds 2.
The new design takes away the old wire connecting the two buds, and shrinks the entire package down to the point where the Pixel Buds 2 sit flush with your ear. Directional microphones make sure you can be heard both on the phone and while using the Google Assistant — which no longer needs to be tapped to be used.
The new Pixel Buds boast boosted signal strength, with a Bluetooth connection that can be used from across a football field — though we’re not sure you should be listening to your “Best of Disney” playlist while on the pitch. The battery life has been improved, too. The Pixel Buds have a 5-hour battery life, with up to 24 hours available when paired with the charging case.
The Pixel Buds will be available in early 2020 for $179. See how they compare to the older model.
Read more about the Pixel Buds 2
Google kicked off the event by talking about ambient computing — but the big news was the reveal of a release date for Google Stadia. Starting November 19, you’ll be able to try out Google’s vision of cloud gaming from a number of Google devices. These include the Google Pixel, which was confirmed to be the first phone to support Google Stadia. It was unclear whether this reference was to just the Google Pixel 4, or included previous Pixels as well.
The Google Stadia controller also got some screen time. Google went back to basics when designing the controller, searching far and wide to find inspiration for it. Finally, it found what it was looking for — the humble round handle you’ll find on a professional kitchen knife. We’ll have to see how it feels when we try it out.
Read more about Google Stadia
- Google Pixel 8: all the latest rumors and what we want to see
- Google just dropped the date for its Pixel 8 and Pixel Watch 2 announcement
- Google Pixel Watch 2: rumored price, release date, news, and more
- The Galaxy Z Fold 5 needs these 4 things to beat the Pixel Fold
- Can the Pixel Fold’s camera beat the Galaxy Z Fold 4? I found out


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This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Loopring (LRC), a Decentralized Exchange (DEX) that utilizes zkRollups, is under a renewed limelight today amid GameStop’s (NYSE:GME) growing NFT and crypto-related footprint.
To wit, Wall Street Journal has now revealed that GameStop has established a dedicated NFT-focused unit and has hired over 20 people to work on this initiative. The unit aims to establish a marketplace for NFTs in collaboration with game developers and content creators.
Of course, this news should not come as a surprise to our readers. We have been highlighting GameStop’s NFT-related moves in multiple posts over the past few months (read here and here). However, the report does increase our confidence in the prognosis of an eventual partnership between GameStop and Loopring. To wit, WSJ reports that the video game retailer is close to signing a partnership deal with two crypto companies:
“GameStop also is close to signing partnerships with two crypto companies to share technology and co-invest in the development of games that use blockchain and NFT technology, as well as other NFT-related projects, the people said. The retailer expects to enter into similar agreements with a dozen or more crypto companies and invest tens of millions of dollars in them this year, the people said.”
We have reason to believe that GameStop and Loopring are closer than ever to signing a formal partnership. As we've noted in a dedicated post previously, certain snippets of the source code from Loopring’s GitHub profile reference “gamestopmeta” in the “NFT-DEV” amended code branch, suggesting a high likelihood of integration with GameStop’s upcoming NFT-focused platform. Then, GameStop’s new job posting for a “Product Owner - Head of Web3 Gaming [REMOTE] In Seattle” caught our roving eyes. The job requires not only familiarity with “all new NFT/crypto projects” but also a working knowledge of “integrations with different blockchains and Ethereum Layer 2 environments”. Bear in mind that the LRC is a Layer 2 protocol on Ethereum. Taken together, these developments bolster the probability of some type of partnership between GameStop and Loopring.
As a refresher, Rollups are a Layer 2 (L2) solution that aggregates and processes transactions outside of Ethereum’s main blockchain. These processed transactions are then bundled and posted on the main chain, thereby increasing Ethereum’s transaction processing power or scalability by orders of magnitude and bypassing its prohibitive transaction processing fees (gas fees). Loopring uses a new type of Rollup, dubbed the zkRollup (zero-knowledge Rollups). A zero-knowledge proof makes a claim regarding the accuracy of a particular data set without actually sharing that data. This is done by generating proofs based on cryptographic computations for each batch of transactions. Since zkRollups do not require a challenge period, as the validity proofs have already verified the legitimacy of the underlying transaction data, transactions can be processed very quickly. In fact, Loopring claims that it can process over 2,000 trades per second. For obvious reasons, this transaction processing power is critical to the success of GameStop’s NFT marketplace.
Investors seem to concur with this prognosis. Over the past 24 hours, Loopring is up over 6 percent. The coin, however, still has a long way to go to capture its all-time high of $3.83 back in November 2021.


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China's exports to the United States and the rest of the world grew more than expected in October, official data showed Thursday, as its traders apparently rushed shipments across the Pacific ahead of higher tariffs.
Top Chinese officials are currently in Washington, with hopes that those talks could pave the way for a breakthrough on trade later this month when Trump meets Chinese President Xi Jinping at the G20 summit in Argentina.
Still, in October exporters continued to hurry goods across the Pacific, with China's exports to the US surging 13.2 per cent from the same period last year, according to the data released by China's customs administration.
China's trade surplus with the US fell to USD 31.8 billion in October, from a record USD 34.1 billion in September.
October marked the first full month of US tariffs on USD 200 billion of Chinese goods -- but the tax rate is set to jump from 10 per cent to 25 per cent come January.
Trump has repeatedly boasted the US could not lose a trade war with China, but Beijing's retaliatory tariffs on American goods have been more damaging so far.
China's imports from the US fell 1.8 per cent in October on-year, while its surplus with the US expanded to USD 258 billion for the first 10 months of the year.
Analysts estimate the upcoming meeting of the two heads of state will fail to resolve the friction.
China's overall trade -- what it buys and sells with all countries including the US -- logged a USD 34 billion surplus for the month.
"Global demand may be holding up better than feared, while a weaker Chinese yuan is also helping the country's exporters."
Robust imports showed China's economy remained stable despite posting 6.5 per cent GDP growth in the third quarter -- its slowest pace for nine years.
Beijing could be pulling up from its campaign to tackle mounting debt which weighed heavily on growth, analysts said.
"Robust imports, especially commodities, could be an indication of a rebound in infrastructure investment and a stabilisation of the property market," said ANZ's Wang.
Despite the resilient trade data, analysts forecast the US-China feud will hit growth in coming months. "Trade tensions will be a lingering concern for the global economy," Wang said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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We’re past the half way point in 2022, and industry analysts have been watching the mobile gaming market closely to identify the evolving trends in this rapidly developing sector. NewZoo reports that of the 2.7 billion gamers on the planet, 2.5 billion play mobile games. It’s a pastime that touches all of us, either directly or indirectly.
AAA games making the leap to mobile
There has been this question hanging over the gaming sector for a few years now. Is the console era coming to an end? The answer has always been that while console gaming remains the pinnacle, then it will remain part of the picture. People can download free mobile games by the million, that’s fine, just as long as they continue to camp out in queues overnight, waiting for the shops to open so they can spend $100 on the latest edition of FIFA for their X-box.
In short, the indicators are that this is less likely to happen in the years ahead. FIFA is an example of a game that is trying to keep a foot in each camp. The latest version of FIFA mobile is much better than its predecessor. In fact, it’s not so different to the “full” console game, and therein lies the problem for EA Sport. Marketing a mobile game as a free, “lite” version of your AAA console cash cow is just not going to cut it in 2022.
Mobile casino is go
This is a point that the iGaming sector embraced some years ago. Over the past two to three years, mobile casino providers have shaken off old-fashioned thinking of making their platforms mobile friendly or even mobile first. So few visitors arrive via anything other than a mobile device that it seems pointless to even consider anything other than mobile only.
It’s not necessarily as easy as it might sound. If it were just a case of people logging on to play slot games and video poker apps, that would be one thing, but today’s casino platforms place more emphasis on live games played in real time with a human host or a dealer over a webcam. New brands are competing with long-established names from the casino world. It’s worth keeping an eye on a comparison site like gambleonline.co/en-in/casino/mobile/ to understand the range of games available, the comparative deals they have on offer and so on.
Hyper casual hit 10 billion installs
Bigger than the AAA and bigger than the iGaming, though, are the hyper casual games. People install hyper casual games for a little idle distraction and oh boy, do these meet the needs of the times.
A report published by Sensor Tower showed that general adoption of the top hyper casual gaming categories grew by 45 percent and that total installs crossed the 10 billion threshold in 2020. Distraction is what it’s all about, even if it just means a few minutes time out to gather one’s thoughts.


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Volkswagen plans to stop selling combustion engines in Europe by 2035, a board member advised German newspaper Muenchner Merkur (via Reuters).
Klaus Zellmer, Volkswagen’s board member for gross sales, advised the newspaper that the corporate would “exit the enterprise with inner combustion engine automobiles in Europe between 2033 and 2035.” However, he added, it might take longer to stop selling combustion engines in the US and China— that can come “somewhate later,” he mentioned— and in South America and Africa, the place he mentioned “it would take deal longer.”
Zellmer mentioned the automaker’s whole fleet might be carbon impartial by 2050 on the newest. He needs to see electrical vehicles to account for 70 % of the corporate’s whole gross sales in Europe by 2030.
Volkswagen’s carbon-neutral targets are shut to a number of rivals; Ford said earlier this year will solely promote electrical vehicles in Europe by 2030, and plans to spend $1 billion to convert its manufacturing unit in Cologne, Germany, into an EV manufacturing line. And in April Honda said it plans to part out gas-powered automobiles by 2040.
A number of European international locations have their very own targets for banning conventional gas-powered vehicles, with Norway aiming for 2025 and France 2040, and the UK planning on 2030. Within the US, California plans to ban the sale of gas-powered vehicles by 2035, with a number of different states adopting California’s mannequin.


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Flash Japan manufacturing PMI signals export weakness and a fall in optimism
- Flash manufacturing PMI improves in August
- Exports falls, so does optimism
- Rising price pressures amid supply shortages
The August flash PMI data indicated that Japan's manufacturing sector continued to expand midway through the third quarter. However, the survey also brought further signs of shrinking overseas demand and sharply higher input prices.
Softer third quarter
The Nikkei Japan Manufacturing PMI™ rose to 52.5 from 52.3 in July, according to the preliminary flash reading. This took the third quarter average so far to 52.4, though still the weakest for a year.
Despite stronger growth of both output and new orders, the outlook appeared to have darkened. Factory job creation and business confidence were the weakest since late-2016, while export performance deteriorated.
Exports decline and prices rise
Export orders fell for the second time in three months in August, and have failed to show any growth since May. While rising export flows had powered the economic expansion since the final quarter of 2016, export growth has tapered off dramatically since peaking at the start of this year. The recent export trend has been the worst for two years. With the Japanese economy heavily reliant on trade as a growth driver, the recent fall in exports raises concerns for future growth.
While exports have fallen, prices have risen. August saw the steepest rise in input prices since the 2011 earthquakes, which has in turn pushed firms to raise charges for manufactured goods by the greatest extent for nearly a decade.
What's more, supply chain delays remained severe amid rising shortages of key inputs, suggesting further price increases are on the horizon.
© 2018, IHS Markit Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
Bernard Aw, Principal Economist, IHS
Tel: +65 6922 4226
Purchasing Managers' Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
- Week Ahead Economic Preview: Week of 16 September 2019
- IHS Markit European GDP Nowcasts: Recession risk in Germany increases
- Global growth backtracks to three-year lows amid worsening trade picture
- Week Ahead Economic Preview: Week of 9 September 2019
- Global growth close to three-year lows amid worsening trade picture
- Eurozone PMI signals weak and fragile third quarter expansion
- IHS Markit European GDP Nowcast
- Plunging Hong Kong PMI signals recession amid escalating protests
Our Q3 nowcasts point to heightened recession risk in Germany. The model suggests the German economy contracted by… https://t.co/wWAYuG3bCY


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General Motors said Tuesday it made $3.1 billion in profit from July to September, a decline of more than 7 percent year-over-year, partly due to a six-week strike by the United Automobile Workers. Which has disabled two. The company’s vehicle plants and its 18 parts distribution centers.
GM said the strike reduced its earnings before interest and taxes by nearly $200 million in the final week of the third quarter, and by nearly $600 million since the fourth quarter began on Oct. 1. The automaker also estimated that the strike could cause it losses. $200 million per week going forward.
Paul Jacobson, GM’s chief financial officer, said in a conference call with reporters, “We remain optimistic that we will be able to reach an agreement as quickly as possible,” but he declined to say whether the company thinks that will happen. This is close to a deal. On a new contract with the UAW
On Friday, GM made the union a contract offer that included a 23 percent wage increase over four years. This would increase standard UAW wages from $32 an hour to more than $40. At that salary, an employee working 40 hours a week would earn about $84,000 a year, not including extra pay for overtime or profit-sharing bonuses, which have topped $10,000 over the past two years.
Mr. Jacobson said negotiations with the union were continuing. The union strike, which has targeted specific sites owned by Detroit’s Big Three automakers, has idled a GM pickup truck plant in Missouri and another plant in Michigan that makes large sport utility vehicles.
In the third quarter, GM made almost all of its profit in North America, driven primarily by factories operated by UAW members in the United States. Its bottom line was hit by a 42 percent decline in profits from its joint ventures in China, a modest profit decline at its financial arm and losses from its cruise division, which is working to develop self-driving cars.
Despite the strike, GM reported its third-quarter revenue rose nearly 5 percent to $44.1 billion. 981,000 vehicles were sold globally in the quarter, nearly 15,000 more than a year earlier.
Mr. Jacobson said GM hopes to introduce redesigned SUV models that will be more profitable than the SUV models they are replacing, and the company will save money by slowing its planned rollout of electric vehicles. GM recently said it was pushing back the start of production of the electric pickup at a plant in Orion, Michigan, from 2024 to late 2025, in response to lower-than-expected growth in sales of EVs.
While GM now plans to ramp up EV production at a slower pace into 2025, it still aims to be able to produce one million electric vehicles per year in North America by the end of 2025, Mr. Jacobson said.
“Our commitment to an all-EV future is as strong as ever,” he said.


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Another legislative setback has hit the cigar smoking community in Washington state, as a bill-turned-amendment that would have allowed smoking in cigar stores and lounges was chopped and left on the House floor in the wee hours of a special legislative session Wednesday morning.
What started as House Bill 1683 in January 2011 became morphed into an amendment to House Bill 2565, legislation that would have provided for the operation of roll your own cigarette machines at retail establishments. Through ‘parliamentary maneuvers,’ a term used by Joe Arundel, owner of Rain City Cigar in Seattle and president of the Cigar Association of Washington, the amendment was stripped around 2 am Wednesday morning and will not be brought back until January 2013 at the earliest.
“We will be back, most likely next session,” Arundel said. “It would be smart for the other side to pay attention because we’ll be back and better prepared,” he added.
The provision would have created paid licenses to allow smoking in retail tobacco shops and cigar bars or lounges. An annual fee of $6,000 for a store and $17,500 for a cigar bar or lounge would have netted the state between $1.5 and $2 million, which was to be earmarked for the revival of the state’s Quit Line. The line had been cut due to budget shortfalls and left Washington as one of a handful of states without a program to help smokers quit.
The cigar-driven amendment to HB 2565 caused headache for Gov. Christine Gregoire, who did not want to be seen as allowing indoor smoking, something she has been an ardent opponent of since taking office in 2005.
Opponents of the amendment called the provision “blood money,” as they saw it as being pressured to put workers in cigar bars at risk in exchange for the Quit Line’s revival.
“We were close, but indeed, no cigar,” said Arundel, citing that the bill has gained traction in the Legislature since being introduced over a year ago, including passing in the state Senate.


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Can An Actual Release be Far Behind?
It’s a little unusual for any company to start an online campaign for one of its own products. But this morning, Sega–presumably Sega West–began a push via its Facebook page for fans to like and share a post plugging a Western release of Hatsune Miku: Project Diva F for Playstation 3. It should be noted today marks the Japanese release of the same game on the same platform.
For those unaware, the Project Diva series is a rhythm game based on the vocaloid singing synth known as Hatsune Miku. In Layman’s terms, Miku is a virtual singing app, but the persona has won great acclaim in Japan, along with a cult following in the West with concerts and more. Sega has taken advantage of the Hatsune Miku brand with multiple successful game releases in Japan, but no home or portable console edition have ever made it to the West. A localized version of Project Diva F was shown at last year’s E3, but nothing’s come of it until now.
As of this article’s publication, the call to action has been “liked” on Facebook more than 2,000 times, and “shared” more than 1,700 times. That’s just within the past hour. The question is, given how we’re fairly close to the release of a non-BC Playstation 4, does Sega see the support of a growing Miku fanbase overcoming a release on a soon antiquated console?
We will let you know if this goes anywhere.


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Hudson Valley Victoria’s Secret Set To Close In February
One of several Hudson Valley locations of Victoria's Secret is set to close their doors permanently on Wednesday, February 5th. The Kingston closure was confirmed by parent company L Brands according to The Daily Freeman.
And while the mall has seen its share of closures in recent years, there are reasons to be optimistic. Mall spaces are having to redefine themselves as people's shopping behaviors change. The recent additions of NCG Cinema and Health Quest to the property have been a success. Mall owners The Hull Group plan to continue to invest in the facility to draw new tenants.
In addition to Victoria's Secret, L Brands owns Bath & Body Works and operates more than 2,900 stores in the United States, Canada, and the United Kingdom. They just released their holiday earnings for 2019 and were down 3%.
Victoria's Secret locations in Poughkeepsie, Middletown, and Westchester County will remain open for business.
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Globetrotter was lucky enough to witness a history made in New Delhi. Last March, we flew to the capital of India as it welcomed the HGStreet (or Homegrown Street) festival. Located at the Dhan Mill Compound, HGStreet is India's first street culture festival that comprised sneaker exhibit, hip-hop lifestyle, street-wear fashion, street art, skateboarding, music and food. Although it was the first time it had ever been held, the event managed to attract over 3.300 people! It's even more impressive when you realize that the action-packed event was done in just one day, on March 18!
HGStreet is the brainchild of Homegrown, a digital publication, creative agency and event company, championing India's dynamic youth culture and creating a stereotype-free space. Considered as one of the most influential platforms for the Indian youth, Homegrown has been playing a key role in documenting and building street culture through its articles, campaigns, brand collaborations and events.
SNEAKERS + FASHION
Hailed as the first platform to unite sneaker lovers from all backgrounds, HGStreet was the place where the most influential business rivals—Nike, Adidas, Puma, Reebok—co-exist under one roof. No less than 500 vintage and limited-edition sneakers were featured in the festival's sneaker exhibition.
At the event, participating brands delivered one-of-a-kind sneaker experiences to the attendees via various brand labs. Nike, for example, used the occasion to drop the new AirMax 270. The "Nike Lab" experience was also completed by workshops on actualizing tangible lifestyle products using Nike sneaker uppers by Nishant Fogaat and Dizy.
The day marked the launch of adidas Deerupt by adidas Originals. The brand also presented an immersive shopping experience called "The Deerupt Experience."
Art and culture came together in the Asia premier of American Royalty, an exhibition by legendary photographer Jamil GS. Dubbed one of the most influential artists of the millennium, Jamil has captured portraits of hip-hop royalty—including Jay-Z, Diddy, Mary J. Blige, Outkast, Nas and Chuck D—for the past two decades.
Panelists from many corners around the world gathered at HGStreet to have discussions on cultures. Indian artists Divine, Raja Kumari and Prabh Deep highlighted the rise of various Indian sub-cultures; while Srikanth Seshadri of Saavn and Mo Joshi of Azadi Records talked about the rise of hip-hop in India.
HGStreet ended on a high note with performances by homegrown and international talents. On the domestic front, Divine, DJ Zokhuma and Raja Kumari came through to represent India. Together with global names such as Natasha Diggs, Preditah and DJ Neil Armstrong, they put on impressive performances at the event's four simultaneous after-parties.


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Sales at U.S. retailers accelerated in December on the heels of stronger demand for motor vehicles, capping a year of improvement for the nation’s merchants.
The 0.6% gain last month followed a revised 0.2% advance in November, Commerce Department figures showed Jan. 13. For all of 2016, sales climbed 3.3%, exceeding the 2.3% advance a year earlier.
Americans flocked to auto dealerships last month to top off a record year for the industry at the expense of some other retailers, offering a mixed picture of sales during the year-end holidays. At the same time, steady hiring, improving incomes and a surge in consumer sentiment about the economy’s prospects could help keep shoppers in stores.
“Despite being very bullish, it seems the consumer didn’t go on a shopping spree in December,” said Thomas Costerg, an economist at Standard Chartered Bank in New York. “There’s strong sentiment, but it’s not necessarily translating into bigger spending yet. I still remain optimistic consumer spending will do OK this year.”
The median forecast of economists surveyed by Bloomberg News called for a 0.7% increase in December. November sales were revised from an initially estimated 0.1% gain, while October purchases climbed 0.7%, more than the 0.6% previously reported.
Eight of 13 major retail categories showed gains in December. In addition to gains at car dealers, demand improved at internet retailers, furniture stores and building materials outlets. Sales declined at department stores, restaurants and electronics and appliances merchants.
Purchases excluding motor vehicle dealers and gasoline stations were little changed in December, weaker than the median forecast for a 0.4% gain.
Sales at auto dealers increased 2.4% last month, the most since April, while receipts at service stations rose 2% as fuel costs climbed.
The auto figures are in line with industry data. Sales of cars and light trucks jumped to a 18.3 million annualized rate in December, pushing the year’s total purchases to a record 17.55 million, according to Ward’s Automotive Group figures.
The nationwide average cost of a gallon of regular gasoline rose to $2.34 on Dec. 31 from $2.16 at the end of the prior month, according to figures from motoring group AAA.
Core sales, the figures that are used to calculate gross domestic product and which exclude such categories as autos, gasoline stations and building materials, rose 0.2% last month after little change in November.


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Fund Distribution Innovation of the Year
Financial News is delighted to announce the shortlist for its 14th annual Awards for Institutional Asset Management, Europe. The winners will be announced at a gala event in London in October.
Here are the nominees in the category of Fund Distribution Innovation of the Year:
Eaton Vance, a US-headquartered money manager, may be about to hand active fund managers a weapon in their fightback against passive investing – a way to package active fund management in cheap and tax-efficient structures similar to passive ETFs, now worth $3 trillion globally. Its NextShares structure, the first and so far only of its kind, received approval from the US market regulator in November. In a note in April, rating agency Moody’s said the innovation “has the potential to help active managers restore their competitiveness with passive managers”. The initial 18 funds are slated for launch on Nasdaq in October 2015, and the firm is licensing its methodology to other fund managers – 11 have signed up. The product is only authorised for sale in the US so far, but if successful there, it could have global significance.
Fidelity Retirement Service
Fidelity launched this service a year ago, aiming to educate financial advisers and consumers on the impact of the UK government’s “pensions freedoms” reforms. These took effect in April 2015, but were announced a year before that, leading to an immediate 50% drop in the number of UK consumers buying annuities. Fidelity’s research showed that more than half of consumers did not understand the reforms, so its new service offers help online and by telephone. Central to the service is Annuity Direct, an annuity broking business Fidelity acquired in 2014, alongside access to Fidelity’s picks for post-retirement investment funds. As well as IFAs and self-directed customers, the service is offered to members of company DC pension plans run by Fidelity. Over the first weekend following the freedoms, Fidelity saw a 1,538% jump in call volumes, and by late July had offered full-service retirement assistance to more than 1,000 people.
Dutch asset manager Robeco has been quietly revolutionising its retail distribution. It launched a “Robeco app” in 2011 and redesigned its website in 2013, aiming to make it the engine of its retail business in the Netherlands. These steps have paid dividends in 2015, as the number of app users expanded from 15,000 in January to 38,000 by late July. The app allows clients to link their funds to their bank account and transfer in money directly, as well as checking the balance and performance of their portfolios. The firm says its annual new customer growth has quadrupled between 2013 and 2015, with assets under management in its direct-to-consumer retail funds increasing by 20%, to €6.5 billion. The average age of its new customers has dropped to 35, and calls to its call centres fell by 43% between 2013 and 2014 as website visits jumped 27%.
The institutional funds market research company launched its latest service, Institutional Money In Motion, in May 2015, following two years of product development. Pitched as “big data” for the institutional asset management market, it has signed up 32 fund managers collectively managing €2.5 trillion in third-party institutional assets to share data – over 500,000 lines of it – on what their clients are buying. Flows are categorised by region, client, asset class and product, with the front-end “dashboards” provided by data visualisation tool Tableau. Charles Prideaux, head of European institutional sales at BlackRock, said it is an “important initiative for improving transparency in a market that has long been quite opaque”.


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The Epic Games Store posted a loss of around $ 181 million in 2019, an expected loss of $ 273 million in 2020, and projected to lose around $ 139 million in 2021. This is evident from documents in the Apple versus Epic Games lawsuit.
A major expense for Epic Games is the minimum guarantees ; amounts of money that Epic Games gives as a sales advance to publishers or developers in exchange for an Epic Games Store Exclusive . In 2020, for example, 444 million dollars went there. This is evident from published court documents that Eurogamer has searched through .
Epic states that “at this early stage in the life of the EGS, it deliberately spent a lot of money on marketing and bringing in new users to gain market share.” Epic expects its digital store to be profitable by 2023. The 12 percent that Epic Games collects from each transaction would be enough for the store’s day-to-day costs.
Apple, adversary in the lawsuit over the 30 percent App Store remittance, is critical of the numbers. “Epic does not expect the EGS to gross profit until 2027 at the earliest, but it may never be profitable. Until then, it should at least be funded or get money from other parts of its business.”
Apple further accuses Epic Games of the lawsuit as a means to combat waning interest in Fortnite. Epic would have seen that happen and decided that Fortnite should become a platform for other developers to create content for. That would then be for sale in Fortnite and Epic could put a percentage of it in his pocket.
The 30 percent that Epic would only have to hand over to Apple for transactions in the iOS version of the game would pose an “existential problem” for Fortnite. Epic denies the whole story. In May of this year, a judge will consider the case.


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The Order of Battle for military campaigns is often complex and detailed, and Gallipoli was no exception.

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On January 3, 2022, the Bitcoin web volition beryllium celebrating its 13th twelvemonth of beingness aft its creator Satoshi Nakamoto kick-started the protocol. The creator of Bitcoin has ever been the community’s astir celebrated and mysterious character. Roughly 10 years ago, Satoshi logged off, ne'er to instrumentality and it’s precise apt the inventor won’t ever travel back.
Satoshi Nakamoto invented the Bitcoin web and released the technology’s white paper connected Halloween (October 31) 2008. The insubstantial was authored by “Satoshi Nakamoto” utilizing the email “[email protected]” and the creator besides attached the web domain sanction “bitcoin.org” to the paper.
The sanction “Satoshi Nakamoto” is of Japanese descent and it’s wide considered a pseudonym oregon a falsified name. It is assumed that Nakamoto’s day is April 5, 1975, arsenic the day is displayed connected the inventor’s P2P Foundation profile. If the commencement day is correct, Nakamoto would beryllium 46 years aged today.
Over the years a large fig of sleuths person made it their ngo to observe the inventor’s identity. Although, Satoshi Nakamoto is apt deceased and determination are galore reasons wherefore radical would judge Bitcoin’s inventor is nary longer with us. In the past, Bitcoin.com News has published galore articles astir the imaginable suspects that radical person claimed are Satoshi, and the galore that assertion to beryllium the celebrated inventor, arsenic well.
The archetypal happening we know, however, is that Satoshi Nakamoto near 2 messages earlier leaving for good. The archetypal was connected December 12, 2010, erstwhile the creator near the assemblage a connection astir “venturing into much analyzable ideas.” The station connected December 12 was Satoshi discussing things successful a precise superior and nonstop way, stressing that the “software is not astatine each resistant to DoS attack.”
Nakamoto ne'er returned to sermon thing other connected the Bitcointalk.org forum ever again. Years later, emails from Nakamoto to Mike Hearn and Gavin Andresen surfaced from April 2011, erstwhile Bitcoin’s pseudonymous creator said “I’ve moved connected to different things.” From here, astir everything other astir Satoshi’s further communications has been unproven and determination person been a batch of chaotic claims and speculation that inactive beryllium to this day.
Bitcoin Riches Remain Unclaimed
The information is though, aft these messages Satoshi Nakamoto decided not to travel backmost and it’s precise imaginable that the inventor could not instrumentality owed to wellness reasons. In fact, immoderate radical are rather definite that Hal Finney was the astir apt Satoshi Nakamoto candidate. Finney had terrible issues with amyotrophic lateral sclerosis (ALS) and passed distant successful August, 2014. Interestingly, Finney besides retired from the PGP Corporation successful 2011, the aforesaid twelvemonth Nakamoto sent his last correspondence emails to Hearn and Andresen.
Lastly, 1 of the biggest clues Nakamoto is nary longer with america — too the implicit deficiency of connection aft 10 years — is the information that the inventor’s riches stay unspent to this day. It is wide assumed that Nakamoto owns a hoard of 1 cardinal bitcoin (BTC) if the creator is inactive alive. But the stash of much than $60 cardinal worthy of BTC has ne'er seen the airy of day, and there’s a bully accidental these coins are gone everlastingly if Satoshi Nakamoto is deceased.
However, astatine the extremity of the day, determination are not capable facts that tin beryllium Satoshi is dead, conscionable arsenic determination are not capable facts that tin beryllium Satoshi is alive. Zero communications implicit the years don’t needfully mean Nakamoto is nary longer with america connected this earth. Moreover, the information that Satoshi has ne'er moved oregon spent the $60 cardinal worthy of bitcoin mined successful the aboriginal days doesn’t needfully mean Nakamoto is dormant either. One happening is certain, Nakamoto’s shroud of enigma was bully capable to marque definite we are not.
What bash you deliberation astir the anticipation that Satoshi Nakamoto is dead? Or bash you deliberation Bitcoin’s inventor is live and well? Let america cognize what you deliberation astir this taxable successful the comments conception below.
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Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.


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Food workers in Southern California sign new contract
Whipped up by the pandemic, spurred on by anger over wage stagnation and alarmed by inflation, unionized Southern California food workers clinched their biggest pay rises in decades Thursday as they ratified a new deal with the region’s biggest grocery chains.
The overwhelming approval of the three-year deal followed authorization to strike two weeks earlier by union locales representing 47,000 workers in 540 stores ranging from Ralphs, Albertsons, Vons and Pavilions from San Diego to San Luis Obispo.
After four months of negotiations, Kroger, Ralphs’ parent company, and Albertsons, owner of Pavilions and Vons, agreed to wage increases of 19% to 31% above current wage levels for most workers. Part-time employees, around 70% of the workforce, are guaranteed a weekly working time of 28 instead of 24 hours.
“Companies were afraid of a strike,” said Kathy Finn, secretary and treasurer of United Food and Commercial Workers Local 770 in Los Angeles. “Our members were more united and militant than they had been in a long time.”
Ralphs said the company was “pleased” with the agreement and Albertsons called it “fair and equitable.” Neither company elaborated on the rationale behind the large pay rise, which was more than two and a half times what the chains initially proposed.
Across California and across the country, a pandemic-related labor shortage has made it harder to retain and hire staff. Workers are quitting for higher-paying jobs and older workers are retiring in droves for fear of contagion.
“This is the best contract for employees in 20 years, but also for companies,” said Burt Flickinger, managing director of Strategic Resource Group, a leading retail consultancy. “We have the biggest labor shortage since World War II. Higher wages and benefits are an investment in employee loyalty and productivity.”
In 25 years, union membership in the Southern California food industry has fallen from 90% to about 35% as non-union large grocery stores have expanded, he said. The new UFCW contract will help counteract non-union competition, Flickinger said.
“Walmart and Target are running out of supplies in key categories because they don’t have enough workers in the stores or warehouses. Given the high cost of living in Southern California, this contract could bring back veteran workers to union stores — people who took early retirement because of Covid and are now unable to pay their bills.”
In January, the companies proposed a pay increase of just $1.80 an hour over three years for the highest-paid long-term employees, including cashiers. In the end, they agreed to $4.25 and increased those wages to $26.75.
Another group, including low-paid delicatessen workers and high-bay warehouse workers, will receive a $5.25 increase over three years, bringing their wages to $22.27. Workers will move faster to the top wage bracket and medical benefits will be expanded.
The bottom third of the workforce, baggers and clerks, will get a pay rise from 95 cents to $16.34 an hour.
The pay rises for high-paying workers also apply to Food 4 Less, a Kroger-owned chain with 6,200 employees whose contract last year was tied to expected pay rises at Ralphs.
Earlier this month, UFCW workers at Stater Bros, a 15,000-worker chain in Southern California, also received hefty bonuses of $4.50 over three years for top-notch cashiers, clerks and meat cutters, as well as a 28-hour minimum guarantee for most part-time workers.
“Food workers and their union have made a big win,” said Peter Dreier, a politics professor at Occidental College and a co-author of a recent nonprofit Economic Roundtable report on Kroger. Polls showed the public had sympathy for essential workers suffering hardship during the pandemic and companies would have lost many businesses in the event of a strike, he said.
The roundtable report documented a sharp decline in real wages for Kroger workers in Southern California since 1990, when the highest-paid grocery workers made $13.65 an hour, which is $28.32 today. That 22 percent drop in wages worsened as the company switched more workers to part-time, “so few of the highest-paid frontline workers earn middle-class incomes,” the report said.
Jay DWilley, 42, started out as a minimum wage bagger at age 18 and worked his way up to a unionized meat manager at an Anaheim Hills Vons. The father-of-two was counting on the $5, three-year increase that union negotiators first proposed.
“Even if we got $5 upfront, that wouldn’t have put us on the inflation curve for the last 20 years,” he said. His current hourly wage of $24.78, along with his wife’s clerical salary, is not enough to get them out of their two-bedroom apartment and buy a house, he said.
Now, he fears, “inflation will continue,” one reason he voted against ratifying the treaty.
If low wages and inflation worries fueled worker militancy, the pandemic has charged the anger of food workers. They were viewed as “essential” and hailed as “heroes” but complained that companies failed to provide protective equipment in a timely manner and phased out the hazard pay after two months.
Of the 20,000 food workers represented by UFCW Local 770 in Los Angeles, Ventura, Santa Barbara and San Luis Obispo counties, 7,730 are believed to have contracted the coronavirus, according to data the companies provided to the union.
At Local 324 in Orange County, 3,670 out of 14,000 grocery workers became ill. And at Local 1167, which represents workers primarily in Riverside, San Bernardino and Imperial Counties, 5,770 of 17,000 members fell ill.
https://www.latimes.com/business/story/2022-04-14/california-grocery-workers-contract-deal-ralphs-albertsons-vons-pavilions Food workers in Southern California sign new contract