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Payments giant Stripe will enter crypto industry market
The Irish-American payment company plans to cooperate with cryptocurrency exchanges, digital wallets, NFT marketplaces, and anti-fraud services.
As reported on their website, the first thing Stripe suggests is to integrate an API interface for processing cryptocurrency payments and convert them into fiat money. The second step is the launch of Stripe Radar, a project with machine learning designed to identify scammers more accurately and neutralize them in time.
One of the first partners was the FTX cryptocurrency exchange. The company will help the cryptocurrency exchange simplify the user verification procedure (KYC) as well as increase its efficiency.
Recall that Stripe already tried to enter the crypto industry in 2018. Still, due to the big Bitcoin exchange rate fluctuations, it refused to support it since the digital coin rate kept changing during transactions, resulting in the company's financial losses.
Stripe now supports crypto businesses: exchanges, on-ramps, wallets, and NFT marketplaces. Not just pay-ins but payouts, KYC and identity verification, fraud prevention, and lots more. https://t.co/3X173SkdPd— John Collison (@collision) March 10, 2022
Subscribe to our Telegram channel for the most relevant, interesting, and informative news from the crypto industry.


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A Loveland couple will open their first natural foods store in the fall, according to the Loveland Reporter-Herald.
Jonas and Missy Buehl, who have been hoping to open a store for years, have signed a lease for The Crunchy Grocery and are hoping to open the store in mid-October. The 6,200-square-foot store will be at 1461 E. Eisenhower Blvd., in space previously occupied by Party America.
"We'll carry a lot of items that people have to drive to Fort Collins to go to a natural food store to get," Jonas Buehl told the newspaper. "We're as excited as a family having a place to go to shop as being business owners."
The Crunchy Grocer will employ 20 to 25 people.

domain: news


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To commemorate National Ice Cream month, Halo Top Creamery and ColourPop are joining forces to launch a line of ice cream-inspired cosmetics.
The two brands have partnered to debut eight limited-edition shades for ColourPop’s Super Shock Pigment line. Designed after Halo Top’s top flavors, the makeup line comes in Mint Chip, Birthday Cake, Strawberry and Rainbow Swirl colors.
Each item in the line will come in packaging made to replicate the look of Halo Top’s ice cream cartons. The scented eyeshadows can be purchased collectively in a set or separately.
ColourPop’s latest collaboration follows last year’s deal with Disney for a
line of cosmetics.
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The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and its associate members will submit suggestions to the State in the first week of August on how to improve the Myanmar economy over the next 12 months, according to state media.
Ye Min Aung, the vice president of UMFCCI, said the Myanmar economy was lagging, in comments reported by the Global New Light of Myanmar on July 15.
He said the representatives engaged in different industries need to put forward the suggestions about country’s economy to UMFCCI by 27 July in a bid to have a smooth flow in business. The suggestions include amendment of some facts on the custom duty and taxes and minimising office procedures and the barriers in businesses.
Ye Min Aung said the government’s smart intervention is needed because some businesses are required to control with regulations whereas some need deregulation.
“We need to focus on the stability of a macro economy in order to control the exchange rate and inflation by laying down monetary policy and fiscal policy. It is of vital importance that we need to analyse the strengths and weaknesses of the country and have to exert efforts to promote international trade,” he said, according to the report.


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For a long time, we have always believed that whether it is NVIDIA ADA RTX 40 series or AMD RDNA3 RX 7000 series, PCIE 5.0 will be supported, especially the data center -level Hopper H100 core has been supported. The RTX 3090 TI has also supported the PCIE 5.0 power supply standard.
However, some information shows that the NVIDIA RTX 40 series still only supports PCIE 4.0, the reason is unknown.
What about AMD? According to a reliable exposure master@KePler_L2,The AMD Navi 31 core is basically determined to support PCIE 5.0, and it will be called RX 7900 XT.
He did not disclose where the news was obtained, but recently, AMD has begun to add Navi 3X series core information to the Linux kernel patch in recent times, which should be found to find clues.
on the other hand,The Ryzen 7000 series processor of the AMD Zen4 architecture has confirmed that it will support PCIE 5.0The data center platform composed of the next generation of Xiaolong 7004 processor and Instinct MI300 acceleration card will naturally be absent.
In this way, AMD will have a complete PCIE 5.0 product portfolio, which can better release its performance potential.
The bandwidth of PCIE 5.0 doubles again, the original data transmission rate reaches 32GT/s,PCIE X16 bandwidth up to 128GB/s, Naturally, it is the high -end SSD and high -performance computing field. The actual use of consumer game cards is not very large.
PCIe 6.0 has also been born early this year, and the bandwidth continues to double. PCIE X16 can bring 256GB/s, and upgraded PAM4 pulse adjustment signaling, FEC forward error correction mechanism, FLIT traffic control unit code, which is the largest change in the past generations. Essence


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Two new RDNA3-based graphics cards were recently spotted on ECC from ASRock. The graphics card in question is the much anticipated AMD Radeon RX 7800 XT.
Not much information is currently given on ECC, but it confirms that the graphics card will come with 16GB of memory. The Radeon RX 7800 XT graphics card will be available in two models from ASRock, the RX 7800 XT PG 16GO and the RX 7800 XT PGW 16GO.
Among the two models from ASROCK, ‘PG’ suggests that these are from the manufacturer’s Phantom Gaming lineup. On the other hand, ‘PGW’ might be a premium version of the Radeon RX 7800 XT that comes equipped with a better cooler and higher TDP.
While listing a product on ECC does not confirm its launch, a lot of ECC listings made the light of day after a few months.
Additionally, rumors also point to the launch of new mid to high-range RDNA3-based cards from AMD. These rumors hint at the Radeon RX 7700 XT and 7800 XT. Therefore, we might not be far from the new RDNA3-based graphics card.
AMD might also be intentionally delaying the launch of the Radeon RX 7700 XT and RX 7800 XT graphics cards. The current demand for graphic cards in the market is not as high as it used to be, and users are choosing to stay on older generation options.
AMD might be looking to sell the remaining last-generation stock of graphics cards like the Radeon RX 6600 XT, 6700 XT, and 6800 XT. This might be a wise move as the recent launch of the Radeon RX 7600 was overshadowed by the already cheaper options available worldwide.
Thank you! Please share your positive feedback. 🔋
How could we improve this post? Please Help us. 😔
Malik Usman is student of Computer Science focused on using his knowledge to produce detailed and informative articles covering the latest findings from the tech industry. His expertise allows him to cover subjects like processors, graphics cards, and more. In addition to the latest hardware, Malik can be found writing about the gaming industry from time to time. He is fond of games like God of War, and his work has been mentioned on websites like Whatculture, VG247, IGN, and Eurogamer.


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It may be surprising to discover that the real success story of UK manufacturing is food and drink.
Predicted to grow at three or four percent annually, there are some 6,360 food and drink producers contributing to turnover of around £100bn, according to a London Stock Exchange Group report of 2016.
Much of the growth in the food and drink industry is taking place among smaller, specialist businesses and in artisan foods. It is into this booming sector that Heartier (recently re-branded – it was formerly Market Porter) has carved a niche. Pitching itself as a purveyor of “proper, tasty, local produce”, it connects small-scale food producers directly with consumers via its proprietary platform.
It is unique in offering local produce on a national scale – effectively like an online mega-market. Having begun in 2014 with ‘Meat Porter’, it now offers charcuterie, high-end chocolate, meat, and cheese from selected suppliers.
Founded by a couple of self-confessed foodies and university buddies, Stefan Porter (now CEO) and Nicholas Ford (CFO), Heartier’s proprietary algorithm matches customers with the most local supplier, while also managing availability, capacity and cost price. “We looked at models as varied as Deliveroo and Airbnb for inspiration,” says Porter, a former head buyer for Lidl supermarkets.
“We’re working with second or third-generation butchers and farmers who want to reach a broader consumer base,” says Ford. “They might not want to incur the cost of going online, which can be complicated. So we organise the logistics, and allow them to focus on the bit they love – food.”
Customers, perhaps jaded by supermarket stories of mislabelled meat or fake farms, get a direct line to a range of local suppliers – an approach that has gained Heartier a 92 percent Feefo customer satisfaction rating.
“The trust element is our USP,” says Porter. “I don’t believe supermarkets would do what we’re doing. We’re cutting out the middle-man. We’re offering domestic produce that is ever-changing and based on small suppliers. Supermarkets wouldn’t take this multiple-producer, fragmented approach. And the farms they are dealing with are often more like large manufacturers.”
Heartier also has the advantage of being the first of its kind nationwide: competitors exist, but they tend to be London-centric and costly to run, whereas Heartier’s technology allows it to scale up while keeping costs low. “Supermarkets might potentially be competitors for customers,” says Porter, “But because we cut the supply-chain fat, prices are comparable to [Sainsbury’s] Taste the Difference range or Waitrose, but no more expensive.” In that, Heartier is “determinedly mass market”, the co-founders add.
“We want to bring on more suppliers as we scale up, while keeping our reputation as trusted suppliers of independent, local produce. I believe we’re doing something completely game-changing in food marketing,” says Porter.
The founders have also stocked the board with advisers and directors with the strategic clout the business will need as it expands: Joanne Gunn of Majestic Warehouse, Stephen Evans of Tonkotsu and Gourmet Burger Kitchen, and lead investor/angel Robert Durkin.
Board composition has been a chief consideration for the founders. “We’ve been careful to pick shareholders with complementary skills, even if they aren’t on board. We’ve even turned down investment companies because we don’t want to give away board seats, says Ford.”
Finding the right fit has also been the priority as the business builds its team: “Our aim is to scale up but we want our values to stay the same,” says Ford, “It’s about finding the right fit. In a growing business, no-one can hide or get carried along. You need to have a shared passion and a sense of urgency. You get a sense of that from people early on.”
Sector experience is less important than attitude, he adds – in fact, specialists can be a hindrance in a start-up. “We all wear many hats. The main test is how comfortable you are doing something that is not strictly in your job description.”
If you would like to contact Heartier regarding their current raise then please contact email@example.com


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Vatican shops draw seekers of great deals
Updated 11:02 pm, Sunday, December 23, 2012
Vatican City --
Anyone left on your Christmas list aching for a 65-inch Samsung 3D flat-screen television? Just your luck. The Vatican's duty-free department store has one on sale for $3,827 - a nifty savings over the $5,032 it costs at Italy's main electronics chain, Euronics.
There's a little-known open secret in the Vatican gardens, a few paces behind St. Peter's Basilica and tucked inside the Vatican's old train station: a sprawling, three-story, tax-free department store that rivals any airport duty-free or military PX, stocking everything from Church's custom-grade shoes ($638 a pair) to Baume et Mercier watches (men's Capeland $6,600).
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There's a hitch, however. It's not open to the public - only to Vatican citizens, employees and their dependents; diplomats accredited to the Holy See; and (unofficially) their lucky friends who, after stocking up on holiday must-haves, proceed to the checkout with their Vatican connection and the ID card that entitles them to shop there.
The Vatican Museum, with the Sistine Chapel as its main draw, is the prime profit-making enterprise of the Vatican city-state, bringing in more than $120 million in revenue last year alone. But other, smaller entrepreneurial endeavors boost the Vatican's coffers as well, including the department store, the tax-free gas station, the stamp and coin collecting office, the Vatican pharmacy, and a supermarket.
And in these days of austerity, their profits and bottom line are ever more important to the Vatican.
The Vatican is entitled to run such tax-free enterprises inside its walls based on the Lateran Treaty, the 1929 pact that regulates the Vatican's relations with Italy. But those regulations also limit the Vatican's customer base, lest all of Rome descend on its supermarket or department store.
Few people outside Rome know the department store exists - there's no evidence of it on any Vatican website, no photos of its wares, no advertising outside the Vatican walls. Those who do know it exists seem to want to pretend it doesn't, since the high-end luxury items aren't necessarily in tune with either the sobriety or the salaries of the Vatican rank-and-file.
Perhaps even more than the department store, the supermarket is a much-sought-after perk for Vatican employees and a boost to the Vatican's bottom line. And at Christmastime, it is as jammed as the department store, with lines snaking through the store.
"The Nutella is just better here," said Maria Grazia Mancini, a Rome municipal worker who was shopping with her father, a Vatican employee.


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News on Pork continually updated from thousands of sources around the net.
57 min ago | DailyCandy
Our new mayor just announced his intention to turn our city into a late-night mecca.
Trending on the Topix Network
The price of meat may have you opting to put vegetables on the grill this summer.
A fast-spreading virus that can kill 80 percent of piglets that contract it is rapidly spreading across Missouri hog farms, wiping out entire nurseries in some cases.
Information regarding irregular amounts of pork stocked at four cold storage plants as well as three auctions that conducted abnormal trade of pork was passed on to the Fair Trade Commission for further investigation, the Council of Agriculture said yesterday.
Once you're logged in, at the top of each article, video or slideshow you will see a list of your Facebook friends who recently visited Choose to share stories you'e read with your friends or turn sharing OFF to keep your reading experience anonymous .
Donna Tartt, Eleanor Catton, and Margaret Atwood are among those nominated for this year's Baileys Women's Prize for Fiction .
South Yorkshire parents have condemned a South Yorkshire school's decision to ban all pork products from their lunch menu and replace other meats with halal versions.
Although many Americans think of Wisconsin as the center of U.S. dairy, California actually produces the most milk.
Did you know that chops in Italy are called braciole ? As mentioned in a previous article, unlike in the U.S., in Italy the word braciole generally indicates slices of meat, generally pork or beef, with or without bone, grilled or roasted over live coals, or brace , from which the name originates.
The Cordon Bleu Schnitzel is a hearty meal of a breaded pork cutlet stuffed with smoked ham and Swiss cheese with red cabbage.
At the end of February, Idaho joined a disgraceful club when it passed what's come to be known as an "ag gag" law.
As you gaze across majestic Bay Lake, you notice a building surrounded by tall timber and what could be the grandeur of Rocky Mountain national park geyser country.
You can create a menu to plan your next party or event and publish it to share with friends - for FREE! From Cooking Light April 2009.
MORE pork was exported last year than at any time since 2000, just before the start of the last outbreak of foot and mouth disease.
On busy days, there's nothing like coming home to the aroma of a fully prepared home-cooked meal.
In this March 3, 2014 photo two sows push up against another entering an electronic feeding stall, center, at Fair Oaks Farms in Fair Oaks, Ind.


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Low numbered veteran autographs will be part of the mix for 2016 Topps Chrome Baseball, due out this summer. We’ve got a preview of the annual release.
February 19, 2016 ByMay 17, 2015 By
2015 Topps Chrome Football will feature designs from past sets, a shout out to its 60 years in football and a sizable checklist of 1/1 SuperFractors.December 14, 2014 By
A typically popular product has gotten off to a bit of a rough start. Rich Klein has a 2014 Topps Chrome football box break–and some insight.November 19, 2014 By
2014 Topps Chrome Football won’t stray too far from the formula but the company’s 1963 design gets some love this year and there will be some patch action.October 27, 2014 By
Dealers’ cold feet led to a retail only release for 1996-97 Topps Chrome Basketball, setting the stage for some angst between hobby shops and card makers.September 8, 2014 By
Maybe you love soccer, maybe you don’t but Topps’ first effort to bring Chrome to MLS cards seems to have brought solid value.September 7, 2014 By
There are two options for collectors in 2014 Topps Chrome Baseball. Rich Klein has the calculator out as he breaks a box of the latest issue.December 15, 2013 By
Some new products are selling below cost, but others are doing well. Here are the top five selling sports card boxes at Mike’s Stadium Sports Cards.September 18, 2013 By
If you want the 2013 Topps Chrome Update cards Topps has produced, you’ll have to buy their ‘holiday mega box’ with regular Topps baseball update packs.December 17, 2012 By
While chasing protection for its Topps Chrome line with the U.S. Patent and Trademark Office, the company reveals some interesting sales figures.May 25, 2012 By
Autographs in hand, Topps plunges full speed ahead into plans for 2012 Chrome football.August 28, 2011 By
Topps product updates and a NorCal burglary nets baseball cards and a baseball signed by (we think) a Hall of Famer.


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July 2017’s Top Tech News Stories
Every new month brings new tech news with it, and businesses have good reason to pay attention. New technologies, updates to current tech tools, and the moves of the big tech companies are all likely to have an influence on how you run your business.
To help you stay in the loop, weâ€™ve scanned the web to bring you the top tech news you should be sure to keep your eye on in July.
1. Uber Undergoes Big Changes
The tech news world has Uber on the mind. The companyâ€™s not new to scandal, but the past month saw the ouster of the companyâ€™s CEO, the continuation of an intellectual property lawsuit against the company, and accusations that they ignored clear warning signs in hiring a driver that allegedly raped a passenger. In spite of all the bad press and big changes in the company though, Uber recently announced that their drivers have provided over 5 billion trips. Even as things get rough, the company still maintains a significant portion of the ridesharing market share.
2. Amazon Broadens Its Business Empire
The other big story that got lots of people talking last month was the online giantâ€™s purchase of a giant in an entirely different industry. Amazonâ€™s acquisition of Whole Foods suggests a big shift from the company into an industry theyâ€™ve only dabbled in so far: fresh food delivery. People can already order just about anything else they could possible need from Amazon, so why not add grocery delivery to the mix as well?
While for some customers this looks like great news, for other companies in the food delivery business itâ€™s troubling. Blue Apronâ€™s IPO launched at about 50% less than the price theyâ€™d originally hoped for after news of the acquisition hit the news cycle. As Amazon keeps moving in new directions, businesses in a variety of industries keep having to scramble to compete with the companyâ€™s dominance.
3. The Petya Virus Reveals Our Cyber Vulnerabilities (Again)
Last month we saw the WannaCry virus scare businesses and governments around the world into focusing more on their computer security. Without giving us much time to take a breath, the Petya ransomware attack hit a huge number of businesses and organizations throughout Europe and the United States. The malware program demanded $300 in bitcoin for people to save their files.
If youâ€™ve ever been lax about the security of your computer and website, these last couple of months have demonstrated the importance of acting to protect yourself. Make sure your website is secure and always back up your files.
4. WhatsApp Gains in Significance
You hear about so many new apps and channels and platforms every day that itâ€™s hard to know which ones are worth paying any attention to. A recent report suggests that WhatsApp is not one to be ignored. The app now trails only Facebook and YouTube in how frequently people around the world use it â€“ beating out the much more talked-about platform Twitter. Â If youâ€™ve been ignoring WhatsApp so far, it might be time to familiarize yourself with the platform.
5. Twitch Releases Update
The popular gaming platform has announced plans to launch an update this month that provides many features gamers have been asking for. The mobile update will include the option of streaming games directly on your mobile app, the addition of a â€œdark mode,â€ and easier navigation options.
6. New Video Conference Camera Goes to Market
In a move likely to be relevant to a number of businesses, Owl Labs just launched a product specifically focused on improving videoconferencing. The new camera, called simply Owl, will record a 360Âº view of the room and automatically focus in on the person talking at any given time. For businesses that have a lot of meetings over video, the technology can simplify and improve the experience. And it adorably resembles an owl.
7. Facebook and Google Move to Correct Privacy Issues
Even as Facebook has comfortably dominated the social media space, it has time and again earned criticisms from users concerned about privacy. Google has similarly been successful in a number of areas its ventured into while also facing discomfort at times from users who feel the company goes too far in tracking and using the information they collect.
Both companies are showing theyâ€™ve heard those criticisms (at least to a degree) and are taking some moves to respond to them. Facebook has released features that allow users in India to protect who has access to their profile pictures. Google has announced that those ads you see when logged into your Gmail account that creepily promote things mentioned in your emails should be a thing of the past, as they wonâ€™t have their algorithms scanning email content anymore for personalization.
For those concerned about their privacy on these platforms, these steps seem pretty small, but they show that the companies are listening to user concerns to at least some degree.
8. Facebook and YouTube Take Steps Against Extremist Content
Recent months have seen a rise in stories about extremist behavior. A lot of people believe that part of the blame for the rise in extremism is the accessibility of hate speech and other extremist content online. To do their part in helping curb the growth in extremist movements, both Facebook and YouTube are taking steps to identify and remove any content thatâ€™s hateful or promotes terrorist activities from their sites.
9. Congress Takes Aim At Internet Harassment
For years, victims of online harassment have been complaining that the law hasnâ€™t caught up to technology. The lack of clear laws or a process for responding to online harassment has given online harassers a lot of power over the lives of their victims, and the victims very little power to fight back. The Online Safety Modernization Act proposed by Rep. Katherine Clark seeks to change that.
If the bill passes, it will outlaw abusive online behavior such as doxxing, revenge porn, and swatting. It will also provide funding to train local police in how to handle these types of crimes when they arise. While legislation likely wonâ€™t solve all the problems of people behaving badly online, it may well help the internet become a safer space for many of those victimized there now.
10. Companies Moving Us Closer to Having Robots in the Home
Any tech innovation that moves us closer to the cool possibilities we saw in sci-fi movies will always be exciting, and several companies are working to move us toward a future where families can have robots in the home.
The toy company Sphero is launching a company, Misty Robotics, that aims to create robot butlers that can tackle some of those pesky domestic tasks humans have to perform now. The home robot Kuri, from Mayfield Robotics, is becoming more advanced as the company continues to hone the technology. Theyâ€™ve announced itâ€™s now able to recognize pets, as well as humans, it can move around more smoothly, and it can livestream high-quality video. And finally, the German company Kuka that makes the robotics products that help build cars and machines is branching into the home robot field as well.
With more and more companies moving into this space, the possibility that youâ€™ll have an (affordable) home robot to help you out around the house in the next few years is starting to seem within reach.
11. YouTube Provides Better 360 Video Analytics
A bit less exciting, but more immediately important to some readers will be YouTubeâ€™s announcement that it will be providing better analytics data to users that load 360 videos to the platform. The video platform will now use heat maps to demonstrate to video creators the parts of the 360 video that attract the most attention from viewers. If you use 360 videos in your marketing, this improvement will help you better understand whatâ€™s working.
The summer so far has been rife with exciting tech news and updates and thereâ€™s no reason to expect things to slow down now. Check back next month to learn the tech news to watch in August.
Kristen Hicks is an Austin-based freelance content writer and lifelong learner with an ongoing curiosity to learn new things. She uses that curiosity, combined with her experience as a freelance business owner, to write about subjects valuable to small business owners on the HostGator blog. You can find her on Twitter at @atxcopywriter.


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Nielsen Media Research will soon be planting its "people meters" on the Internet.
A federal judge has cleared the way for Diamond Multimedia to distribute its Rio portable music -- the playback device that stores CD-quality music downloaded from online music sites.
E! Entertainment Television on Monday flexed its marketing muscle and made the official leap into Internet commerce, opening a showbiz store that plans to sell "everything entertainment related."
CDnow and N2K, two leaders in online music retailing, have agreed to merge in a deal worth $101 million. The new entity, which will bear the CDnow moniker, will boast the largest inventory of music…
E! Entertainment Television on Monday flexed its marketing muscle and made the official leap into Internet commerce, opening a studio store that plans to sell "everything entertainment related."
Directors have talked about it, studios and exhibitors are still doubting it, now Wavelength Releasing has done it: The independent production studio on Friday began screening the first all-digital…
Visual f/x studio Cinesite has broken new ground in digital filmmaking on New Line Cinema's "Pleasantville."
ESPN has tapped Steve Zales as senior veep and general manager of its Internet Ventures division.
The Senate formally ratified two international treaties that Hollywood hopes will serve as global models for protecting copyrighted material on the Internet and other digital formats.
SportsLine USA, which triggered a market sell-off two weeks ago by preparing analysts for lower-than-expected revenues, reported official third-quarter results Tuesday, including an on-target net…
Domestic Film DAILY
PROVIDED BY: Box Office
Non-Stop1Daily:$1.7M Cumulative:$35.1M Universal Pictures -34.92%
Son of God
Son of God2Daily:$1.3M Cumulative:$30.1M Fox -29.51%
The LEGO Movie
The LEGO Movie3Daily:$974,415 Cumulative:$212.9M Warner Brothers -37.02%


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After rumours and speculation about the proposed purchase of the company behind the crowd sourced navigation application Waze. Today its been officially announced that Google has indeed purchased Waze for $1 billion confirming the rumours that have been circulating since early May to be true.
The Waze application is a free social GPS application that features turn-by-turn navigation, developed by the Israeli start-up Waze Mobile. Waze CEO Noam Bardin said in a blog post Tuesday morning, “I am excited to announce today that we have accepted an offer to join Google,”.
However Google would not comment on the acquisition other than announcing the deal themselves on their own blog. Waze Ltd. was founded in 2008 in Israel by Uri Levine, software engineer Ehud Shabtai, and Amir Shinar, and was also reportedly approached by both Apple and Facebook.
Source: USA Today
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Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn more.


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The province’s new recycling program is only two months away and the new regulations have some of B.C.’s business community up in arms while the Regional District of Kootenay Boundary (RDKB), the municipal agency that has been responsible for providing recycling services up until now, maintains that residents probably won’t notice much of a difference.
“The changes coming May 19 are mostly administrative, part of a regulatory change from the province,” said Tim Dueck, solid waste program coordinator for the RDKB. “It’s changing to a stewardship model, where industry has to take care of the recycling of materials they produce.”
Under the new regulations, the responsibility for the cost of dealing with recyclable materials shifts from local governments, who covered the cost of recycling through tax revenues, to the businesses that produce the materials.
However, the stewardship model of managing waste is not new by any means. There are numerous materials the people use everyday that are already managed by similar, producer-managed systems.
Soft drink containers, beer and alcohol cans and bottles, electronics, oil and anti-freeze, batteries, paints and solvents, and tires are but a few items that have been recycled through provincially-regulated, industry-managed programs for years.
Under the new regulations a number of materials that were previously forbidden from the ubiquitous curb-side blue boxes, such as milk cartons, foam packaging, aluminum foil packaging, plastic film packaging, and drink cups, will now be allowed to be put out with the rest of the household recycling.
While residents and regional bodies may welcome the changes to the system, a coalition of B.C. business stakeholder groups are voicing strong objections to the regulatory changes, prompting them to back a province-wide advertising campaign to protest being asked to shoulder the cost of recycling printed paper and packaging.
“For months British Columbia business owners have tried unsuccessfully to convince Minister of Environment, Mary Polak, to rethink the flawed plan the ministry put forth,” Mike Klassen, director of provincial affairs for the Canadian Federation of Independent Business (CFIB), said in a recent media release. “Now business groups representing significant parts of B.C.’s economy have come together to ask the premier to step in to prevent this new red tape that will kill jobs and cause many businesses to fail.”
One of the many objections the business group has to the new system taking effect in the province is that the not-for-profit agency which will be managing the recycling program, Multi Material B.C. (MMBC) is governed by a board made up of international business interests such as Walmart, Tim Hortons Inc., Loblaw Companies Ltd. and Coca Cola Refreshments Canada.
But MMBC has a slightly different take on the position of the new campaign to delay or cancel the new regulatory changes.
“They have known about these changes since 2011,” Allen Langdon, managing director of MMBC, told the Trail Times. “They were well aware of their obligations, they could have been on the board, they could have come up with their own program for dealing with the materials, they need to have a program in place by May 18.”
Langdon maintains that the changes will have a minimal effect on B.C. businesses because of exemptions to the program for smaller businesses introduced by the province in February.
Under the exemptions small businesses will not be required to report or cover the recycling costs if they have under $1 million in annual revenue, if they produce under one tonne of packaging or printed paper, or if they operate as a single point of retail sale and are not part of a larger franchise.
“We anticipate that this will impact less than one per cent of the businesses in the province,” said Langdon. “We’re going to continue to focus on our objective, the start of the program is 60 days away.”
The changes to the recycling program means considerable savings to the regional district in the future but that doesn’t mean home owners in the RDKB will see a drop in their taxes any time soon.
“There will be a cost saving of hundreds of thousands of dollars and the board passed a resolution to re-purpose the tax onto an organic material management program,” said Dueck. “About 42 per cent of our present garbage is in the form of organic plant and animal refuse, this is an opportunity to target a huge portion of what currently goes into our landfills and compost it. This is a direct result of the savings from the changes to the recycling program.”


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Penguin Random House is forming a consumer marketing group to market its titles and authors. The initiate includes enhanced development of digital programs, platforms, and partnerships. This will mean better sales for authors, expanded readership and easier discovery for readers, and better profits for the publisher. These kinds of initiatives are critical in a market where the number of indie bookstores have fallen dramatically in the past five years and where Amazon consumes a substantial portion of digital sales.
I believe a number of publishers are taking initiatives like the one you outline and for the reasons you describe.
They are. I’ve heard from so many clients over the past two years who are leaving publishing houses to self-publish and those who are just starting out who don’t want to bother approaching traditional publishers. But the reality is that their infrastructure helps readers discover new authors and new titles…and so they are still a strong option. These movements are a good step toward shoring up the weaknesses they’ve allowed to build up as they’ve struggled to stay in the game. It might turn into another time when traditional houses regain some of their former strengths…which is good for authors of all kinds!


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There has been increased focus on the Brexit negotiations this week, and whether or not Britain should remain a member of either the European Single Market or the Customs Union, after we leave the European Union in March 2019. These discussions are of particular importance to everyone who lives and works in Kent, because we are the gateway for road and rail trade between the UK and continental Europe.
When the UK voted to leave the EU, it was expected that we would no longer come under the direct jurisdiction of the European institutions, and in particularly the Court of Justice. It was also understood that as a non-member state, the UK parliament would have the right to set its own laws on immigration, and the entitlement of people from other European Union countries to claim social security benefits in this country. In short, it is not possible to achieve this is we seek to remain a member of the European Single Market.
The debate about the Customs Union is more focused on trade. As a member of the Customs Union, we would have to accept the same trading status with countries outside of Europe, as the rest of the European Union does. If we did this, it would mean that we would not be able to negotiate our own separate trade deals with other countries. The government’s policy is that we should stay out of the Customs Union, so that we can arrange our own trading agreements, and we would also be free to cut the current tariffs on non-EU goods being imported to the UK.
There is another issue which particularly affects Kent, that we must make sure is resolved before we complete our Brexit negotiations. That is how to make sure that goods and people can move freely across the border without unnecessary delays for customs checking, whatever system of trade between the UK and the EU is agreed. The government has stated that it wants frictionless trade with Europe after we leave the EU. It should be possible to use technology to monitor and register the movement of goods across borders, and not to have to inspect lorries as they arrive and depart. People I have spoken to in the road haulage industry believe that this should certainly be achievable. It also means that we should continue with developing plans for the Operation Stack relief lorry park, which could also be made available to deal with queuing traffic on the M20 when there are delays, whatever the cause of them.
These are also matters of concern for our near neighbours in northern France, and it is important we engage with them, so that they in turn can try to persuade their government to support the right agreement between our two countries. As with all agreements, both sides are required to the same position. On Thursday this week, I am joining a meeting at the House of Commons with Xavier Bertrand, the President of the Regional Council of the Hauts-de-France region, which includes Lille, Amiens, Calais and Beauvais. We will also be joined by other politicians from Kent and northern France to discuss how we can make sure that managing cross Channel trade is treated as an issue of highest priority in the ongoing Brexit negotiations.


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Today we’re announcing that Surojit Chatterjee is joining Coinbase as our new Chief Product Officer after spending 11 years at Google. Coinbase is a product-led company, and Surojit will play a critical role in making the cryptoeconomy accessible to millions more people through Coinbase’s suite of products.
Most recently, Surojit was Vice President of Product at Google, where he led Google Shopping, which helps people discover and compare products on Google. Before leading Google Shopping, Surojit was the Head of Product at Flipkart, a popular Indian e-commerce site, leading product management, user experience, product operations, and data science. Prior to Flipkart, Surojit was a founding member of Google’s mobile search ads product.
Surojit’s 11 years at Google will be valuable as we continue to scale Coinbase into a company with a lasting and meaningful impact on the world’s financial system. But his experience leading Flipkart — an exciting startup in one of the world’s fastest-growing markets — arguably provided him an even closer look at the complexity and inefficiency of global commerce. When someone has only lived, worked, or transacted in a country like the United States, it can be difficult to grasp the size of the opportunity in simplifying cross-border transactions. But it’s clear that Surojit’s insights and experiences on the front lines of global commerce make him the perfect person to lead our product organization, help us continue our pace of repeatable innovation, and bring Coinbase products to the next billion crypto users around the world.
In his own words, Surojit has witnessed first-hand how smartphones have upended the process of buying goods and services around the world, and he sees how “cryptocurrencies and blockchain technology can help open up the financial system for everyone by growing cross-border commerce, lowering transaction costs, providing higher security and by helping individuals have more control over their financial future.”
I look forward to working alongside Surojit to make cryptocurrency even more accessible in 2020 and beyond.


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Ten Whitestown restaurants have been collecting Zionsville’s 1 percent food and beverage tax, leading to Zionsville receiving nearly $300,000 that should have never been collected from taxpayers.
Whitestown Town Manager Dax Norton said he received the totals from officials at the Indiana Dept. of Revenue, which has been investigating the issue in recent months.
All of the restaurants except two are in the 46077 ZIP code, which means they have Zionsville addresses even though they are in Whitestown. Officials have said they believe the town boundaries not matching up with the ZIP code boundaries is primarily what led to the confusion.
Circkle K/Subway and LA Café have a Whitestown ZIP code and address, and officials are still investigating how they ended up charging Zionsville’s tax, Norton said.
El Rodeo and Flap Jacks, the two restaurants that were open when the tax went into effect in 2008, have been charging it since then, Norton said. Others, like Caplinger’s Fresh Catch, have only been open a few months.
Zionsville will be required to return the tax money. Town Attorney Heather Willey said the town will likely repay the funds through future food and beverage tax collections. It will likely go into a special account and be refunded during a certain time period to customers who can provide receipts showing they paid the tax. Officials are still determining exactly how that process will work.
Food and beverage revenue varies from year to year, but Willey said it has generally been increasing and totals about $350,000 per year. Its uses include town hall loan payments, façade improvement grants and charitable organizations. It also provides support to zWORKS, the Zionsville Chamber of Commerce and Boone EDC.
Willey said food and beverage taxes are collected by the state and then distributed in a lump sum to municipalities, which is one reason Zionsville officials didn’t realize the town was receiving tax money it shouldn’t have.
Once they became aware of the problem, Willey said town officials contacted the state to request a list of all businesses collecting Zionsville’s food and beverage tax. They combed through it line by line to determine if an error had been made. They learned that most of the restaurants shouldn’t have been charging the tax at all, while two – Subway and Which Wich – should have collected it for Boone County, not Zionsville, Willey said.
Norton said as of last week a couple of the restaurants were still charging the tax. Willey said that IDOR will soon notify all affected restaurant owners and order them to stop charging it if they haven’t already.
This type of mix-up is not unique to Whitestown and Zionsville. Willey said it’s not uncommon for food and beverage taxes to be sent to the wrong place when municipality and ZIP code boundaries don’t line up.
Erin Murphy, a spokesperson for the City of Westfield, said the city has experienced similar issues along 146th Street. Businesses on the north side of the street are in Westfield but have a Carmel address. Both cities charge a 1 percent tax, so funds can be moved to fix the problem without affecting taxpayers.
“The City of Westfield has done an audit and found that we are losing food and beverage tax to Carmel along the 146th St. corridor,” Murphy stated in an email. “Westfield works with the Dept. of Revenue to evaluate the report and then the Dept. of Revenue collects the lost dollars for Westfield.”
Willey said that the issue in Whitestown and Zionsville has spurred DOR officials to review the system as a whole and implement changes to ensure taxes go to the right place.
- Caplinger’s Fresh Catch, 6685 Whitestown Parkway Zionsville, IN 46077
- Buffalo Wild Wings, 6537 Whitestown Pkwy, Zionsville, IN 46077
- El Rodeo, 6673 Whitestown Pkwy. Zionsville, IN 46077
- Which Wich, 6708 Whitestown Pkwy. Zionsville, IN 46077
- Flap Jack’s, 6705 State Road 334, Zionsville, IN 46077
- Thai Select, 6579 Whitestown Pkwy. Zionsville, IN 46077
- Dunkin’ Donuts, 6842 Whitestown Pkwy Zionsville, IN 46077
- Pie Five, 6704 Whitestown Pkwy. Zionsville, IN 46077
- Circle K/Subway, 6416 E. State Road 334 Whitestown, IN 46075
- LA Café, 4 S. Main St. Whitestown, IN 46075
Source: Town of Whitestown


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UPDATE 2: The Google phone is confirmed: it's called the Nexus One.
UPDATE: Google has responded to the speculation. See: Google Phone: Google Confirms “Dogfooding” of New Phone
Google staffers have received a shiny new unlocked Android 2.1 phone, according to Twitter reports. That's almost all we know.
Descriptions make it sound like the HTC Passion (pictured), which is scheduled for an early 2010 launch. The question is, does that really count as the Google Phone? After all, wasn't the G1 supposed to be that much-heralded Google flagship device according to the rumor mill?
Is it Google branded? We don't know yet. A few Tweets refer to it as the Google Phone, but photos have yet to emerge. It might be...also might not.
Did Google design it and hand it off to a manufacturer, much like Foxconn builds the iPhone based on Apple's designs? Definitely not: it appears to be an HTC handset (possibly the HTC Passion).
While we all want to believe in the mystical Google Phone - and another iPhone competitor to increase innovation - what's shaping up here is little more than a new HTC handset running Android 2.1: it's yet again Google's software on someone else's hardware.
I'd love for this phone to be called the "Google Phone". But right now we don't have the evidence to make that assumption. At best, it'll be a Google rebrand of someone else's device. At worst: Googlers just got given the new HTC Passion.


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Amazon has announced that it is hiring an additional 100,000 regular employees across the USA and Canada, in addition to the 33,000 corporate and technology jobs it announced last week.
The company highlighted that the hirings were in response to continued growth, spurred on in part by the impact of Covid-19-related restrictions. This has led to it expanding its operations at an accelerated rate, having already opened over 75 new fulfillment and sortation centers, regional air hubs, and delivery stations in the USA and Canada in 2020.
“We are opening 100 buildings this month alone across new fulfillment and sortation centers, delivery stations, and other sites,” commented Dave Clark, senior vice president of Worldwide Operations at Amazon, adding that safety of its employees during the pandemic was of primary concern.
“We are proud to be hiring 100,000 new associates across our network. Our expansion also comes with an unwavering commitment to safety. Collectively, our new team members have already completed more than 1,200,000 hours of safety training, with over 500,000 more hours expected, to ensure that in addition to fast and efficient delivery for our customers, we’re providing a safe and modern environment for our employees and partners.”


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London: Apple has been accused of conspiring with major publishers to increase the price of e-books in a scheme that cost consumers hundreds of millions of dollars, a New York court has been told.
Lawrence Buterman, a lawyer for the US Department of Justice, told District Judge Denise Cote that Apple and five of the six largest American book publishers had "consciously committed to a scheme to raise e-book prices throughout the industry", reports The Independent.
Buterman claimed that the price hike, which came as Apple prepared to launch the iPad and take on Amazon, was encouraged by the late Steve Jobs.
Amazon set low prices on its e-books, charging just 9.99 dollars apiece and selling them at a loss as it sought to shift its Kindle devices, the court was told.
The US government claimed in court papers that Apple wanted to sell e-books to the public, but did not want to compete against the low prices Amazon was setting.
Apple knew that the major publishers also disliked Amazon's low prices and saw Apple's potential entry as a pathway to higher retail prices industry-wide. It also citied a passage from an authorised biography of Jobs by Walter Isaacson, which it said proved that Apple had sought to inflate prices.
The five publishers who were accused by the government of participating in the alleged conspiracy - MacMillan, Simons & Schuster, Hachette, HarperCollins and Penguin - have already settled, paying out a total of 164 million dollars.
Apple, however, has claimed it had done nothing wrong, and hence is taking a very principled position.
The company''s current CEO, Tim Cook, said last week that the case was "bizarre". Apple's lawyer, Orin Snyder, said Apple did not conspire with any publisher individually, collectively or otherwise to raise industry prices.


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H&T PLC (LON:HAT), the AIM-listed pawnbroker, has confirmed its shops will stay open during the latest lockdown while the high gold price and strong demand for watches have boosted profits.
In a trading update, H&T said all 253 stores are currently open and will remain so throughout November.
Pawn pledges and loans are being repaid in line with normal rates, it added, though a more prudent approach to lending had reduced the outstanding loan book to £48mln at end-October.
Retail sales have been strong, with good demand for high-quality jewellery and watches while the price of gold has boosted profits both in pawnbroking and gold purchasing, the group said in a business update.
These strong performances have more than offset weakness in the foreign currency due to less travel, H&T added.
Net cash is approximately £30mln with net assets of £134mln.
In the statement, John Nichols, the group’s chief executive, said: “H&T is in very good health during this unprecedented time, with a strong performance in our retail operations and a prudent approach to lending.
“In addition to our websites, our stores remain open for business, in line with Government requirements, with over £30m in cash to support our customers. Overall we are performing in line with plans and currently ahead of market expectations for the year.”
H&T said it continues to work closely with the FCA in respect of their HCSTC lending review and had appointed a Skilled Person in this regard.
Shares rose 11% to 222p.


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ValueAppeal raises cash to help home owners appeal tax bills
- John Cook
ValueAppeal, which helps home owners file appeals on their property taxes, has raised $560,000 in new financing. The Seattle company, which had previously raised $1 million, plans to use the cash to fund a national expansion of the service.
"We are very encouraged by the success rates our customers have seen in our initial counties and are excited to expand ValueAppeal's offering to a nationwide footprint," said ValueAppeal founder and CEO Charlie Walsh. "Our additional funding will support this continued growth and our customer acquisition efforts, which involve direct consumer outreach as well as targeted partnerships with other organizations whose users could benefit substantially from ValueAppeal's services."
Utilizing patent-pending algorithms, ValueAppeal says that it can assist homeowners in creating a professional property tax appeal in a matter of minutes. That compares to days or weeks through more traditional means.
ValueAppeal's business model is pretty simple. It charges a flat $99 fee to run a report on a home, with refunds provided for those appeals which are unsuccessful. In some cases, homeowners can save hundreds of dollar.
In Clark County, Nevada, customers who utilized the ValueAppeal service saved on average more than $830 on their property taxes.
The company, which now offers service in 80 percent of the counties in the U.S., estimates that as many as 25 percent of homes in the U.S. are overassessed.
You can see how it works in this video demo from the company:
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The trinidad Guardian / The Communication Workers Union (CWU) is calling on government to intervene in the situation in which the Telecommunication Services of T&T (TSTT) is getting set to close nine retail stores which it believes will lead to the retrenchment of over 300 employees.
During a press conference at the CWU Hall, Port-of-Spain yesterday, CWU President Clyde Elder accused senior officials at TSTT of brokering lucrative deals which he claimed, carried with it a hidden purpose aimed at benefitting only company executives.
Along with the claims of retrenchment, Elder raised several issues including the timely payment of bills, resolution of problems and customer confidentiality.
Urging Public Utilities Minister Robert Le Hunte and Finance Minister Colm Imbert to uphold the current administration’s mantra to attack corruption on all fronts, Elder said, “This decision to close these public offices will affect not only the employees, but it is going to affect the general public as to what happens to their service.”
During a meeting on October 5 with TSTT’s Executive Vice President, Human Resources, Carol David, Elder said confirmation was given regarding the closure of the public offices that now operate.
He said, “We were further told that TSTT would then outsource the services provided by these public offices to dealers and agents who have franchises with TSTT.”
Elder argued the decision to close the public offices would not only affect the employees but the general public as well.
He said, “It means the public no longer has the option of going into a TSTT outlet to transact business.”
“It also means that the confidentiality that TSTT is bound to because of its obligations to TATT under the Telecoms Act, that these agents and these contractors don’t have that obligation to keep your information confidential.”
Elder said customers could encounter problems regarding bill payments as their accounts may not be credited until hours and even days afterwards.
He added, “You will now have to go through an intermediary to resolve any issues that arise.”
Elder also raised the issue in which a rival company had ended up before the court as they tried to recoup monies paid to them via a private dealer.
Claiming the move would affect over 300 employees and directly impact 500 jobs, Elder challenged senior officials to disclose whether or not they shared a relationship with any of the dealers/agents set to benefit from the new arrangement.
He said they were not trusting of claims by the company that workers will be redeployed.
Elder said unconfirmed reports claimed the entire hand-off would be completed by January next year.
In a release late yesterday, TSTT denied allegations made by the CWU that any workers would lose their jobs.
“As a good corporate citizen, TSTT has made it clear to all stakeholders that it is not retrenching anyone. The company’s strategy is to find more fulfilling, comparable, suitable employment for all employees who work at the bmobile retail stores. Any information contrary to this is simple inaccurate.”
Justifying the store closures, TSTT said that as part of their analysis, “it has been established that more than 70% of the transaction activities at its bmobile Retail Stores are “Bill Related”.”
The release added: “The company therefore determined that as the technology leader in Trinidad and Tobago, it had to enhance the customer’s experience. The next phase of TSTT’s Digital Transformation includes the use of its enhanced online portal, interconnected kiosks and an expanded bill payment network including the banks, “Sure Pay” and its dealer network. During this phase the company has also taken a decision to close nine of its Retail stores as the previously mentioned improvements can more efficiently serve customers.”


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Cyanogen on Monday announced 'Mod,' a platform that will enable app developers to integrate their apps more directly into its Cyanogen OS operating system. The company has also launched a similar program for OEM and MNO partners. The programme should not be confused with the community-sourced CyanogenMod development initiative.
The software company that aims to take "Android's future away from Google's hands" said it is making many APIs available to app developers that will allow them to better leverage and position their apps on its commercial Android operating system, Cyanogen OS.
Such integration will open new doors for app developers. For instance, if an app developer has a voice calling app, he or she will be able to integrate this feature directly into the default dialler app of the operating system.
The company says that 'Mod' will allow its developer to work in the "post-app" era. For now, however, it has partnered with a small number of app developers. It insists that it will open the program to everyone eventually. The platform will roll out to users with Cyanogen devices with Cyanogen OS 13.0 in March.
For an average consumer Joe, this means that they will have a plethora of mods to choose from. Cyanogen says that it will even "nudge users to install the perfect mod" to help them with their daily chores.
"Thinner bezel, better biometrics, faster processors... changes never cease, yet many people are still bored with their devices. Why is this? We think people are intuitively looking for a more natural way to interact with them. Mod enables this by effectively creating a new runtime, a new way to build services for the Android super platform," said Kirt McMaster, CEO & Co-Founder of Cyanogen.
The first generation of these mods features deep integrations of Cortana and Skype into Cyanogen OS. The company says that through its partnership with Microsoft, a user will be able to install Skype directly into their dialer to add VoIP functionality. Cortana, on the other hand, offers improved integrations with features such as voice-activated selfies. Cyanogen also said that it will soon make possible integrating Hyperlapse into the camera app. A mod for Truecaller is also available that offers protection from spam messaging.
To recall, Microsoft released Cortana to Android last year. The company's digital voice assistant, however, due to limitations imposed by Google, can only offer some of its features.
And for the same reason, this program will excite many app developers. If app developers are able to position their apps and services more prominently in the operating system, they can better serve the customers. Google, while offers a range of APIs that a developer could use and take advantage of, many have criticised the company for not allowing developers to integrate their apps with the core of the operating system.
Cyanogen says that it has launched a programme called Mod Ready for OEMs and MNO partners to speed up the development time of new devices and services. It says that it will provide them with a development kit and ensure that their software is ready for the latest generation of SoC models. Mod Ready is now available for partners.


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The Mekong Tourism Coordinating Office is proud to introduce the first half-day Mekong Food Tourism Summit during the 2016 Mekong Tourism Forum on July 5 to 7 in Sihanoukville. The concept is done in collaboration with the College of Innovation of Bangkok-based Thammasat University, and UNWTO Affiliate Member Chameleon Strategies. Lat year, at the 2015 Mekong Tourism Forum in Da Nang, Viet Nam, the Marketing Workshop featured already food tourism among various themes.
According to Professor Dr. Walter Jamieson, Director of the College of Innovation at Thammasat University: “Food tourism is a local phenomenon of universal scope that is in a clear growth phase; it has a positive impact on the economy, employment and local heritage, as tourists seek to get to know not only the local food but also to know its origin and production processes, making it an expression of cultural tourism.”
The 2012 UNWTO Culinary Tourism Report points out that this is especially important for rural communities, many of which have struggled in the face of rapid urbanization and shifts away from traditional economic sectors. With their proximity to food-producing lands, rural communities often enjoy a comparative advantage when it comes to serving up traditional fare. Tourism, particularly food tourism, allows these communities to generate income and employment opportunities locally, while fuelling other sectors of the local economy such as agriculture.
Cambodia’s only Master Chef Luu Meng will give an insight how his experience has given him opportunities to bring Khmer culture to the world to inspire travellers via authentic food experiences. Luu Meng has worked with Anthony Bourdaine and appeared in an episode of the Gordon Ramsay’s Great Escape as a guest chef as well has having bestowed with the honorable title of ‘Cambodian Master Chef’ in recognition of his creativity and celebration of Cambodian dishes. Luu Meng hails form a lineage of culinary celebration, whose grandmother honed her own skills in the Kitchen of the Royal Palace.
Jens Thraenhart, Executive Director of the Mekong Tourism Coordinating Office is personally excited about leveraging food to position the Greater Mekong Subregion (GMS). He says: “The Mekong region couldn’t be better placed to satisfy the need, and position the region as a multi-country, must-visit tourism destination. Especially due to the fact that agriculture and tourism are vital pillars of the region’s economy, from local street food to rising celebrity chefs, from bustling markets to pictorial rice fields. Against this background, food tourism has gained increasing attention over the past years. Tourists are attracted to local produce and the many destinations are centering their product development and marketing accordingly. With food so deeply connected to its origin, this focus allows the GMS to market itself as truly unique, appealing to those travellers who look to feel part of the destination through its flavours. As identified in the 2015-2020 Experience Mekong Tourism Marketing Strategy & Action Plan, we already see that food is one of the main motivators for tourists to visit the GMS member countries, and is closely linked to developing authentic experiences in the Mekong Region.”
This first Mekong Food Tourism Summit will give an overview of the power of food tourism to position the GMS via tangible examples and case studies from other destinations, and providing context in linking it to the GMS. An expert panel will highlight already great work that is being done when it comes to food tourism in the region, especially in Thailand, Cambodia, and Viet Nam.
The 2016 Mekong Tourism Forum will be hosted by the Cambodia Ministry of Tourism (MoT) at the Sokha Beach Resort Sihanoukville on the beautiful Southern Coast of Cambodia from July 5 to July 7.


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"The initial reaction was that it was a joke" says Carol Lisk.
"I checked the numbers and told [Tommy] to phone our son"
"It's unreal... I just can't take it in. It doesn't happen to people like us!"
More top news
A few showers at times but there'll be clear skies which will allow temperatures to tumble, which in turn means we'll see frost and ice!
From makeup to mechanics, video bloggers - or 'vloggers' - are broadcasting their knowledge to millions of eager consumers across the globe.
It's Christmas Jumper Day and Dyfed-Powys Police has dealt with a man caught stealing two Christmas jumpers.


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Most Read Top Wireless and Mobile News Stories this Week in Review:
This week has been a week for the Samsung Galaxy S3, deals, Droid updates, tips, accolades and the Samsung Galaxy S III overall. Bad news is in theair for Verizon Wireless unlimited data plan holders.
Here are the top WiMo News stories for the week of 6/17-6/24/2012:
- Every one wanted to know the best deals for Samsung Galaxy S3 preorders (guaranteed).
- Then Sprint Samsung Galaxy S3 preorders sold-out and we found where you could still order and get the next big thing.
- T-Mobile released the Samsung Galaxy S3 to major markets first.
- Droid RAZR/MAXX finally is getting an update to Android 4.0 with ICS and global roaming.
- Readers loves the Samsung Galaxy S III Tips.
- The update to the Android ICS for theSamsung Galaxy S II appeared and disappeared AT&T will notify owners soon.
- Developers could get the code for the the Galaxy S3(S III) before it was released.
- PCMAG found Verizon Wireless to fastest 4G LTE network, while AT&T refuted their methodology.
- Samsung offered up to $300 in trade-ins for those who buy the Samsung Galaxy S III.
- In a few days 6/28 Verizon Wireless will be ending its a la carte plans and the grandfathering of subsidized smartphones (for those who want to keep their unlimited or double data plans). We showed readers how to keep their plans and sanity.


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Smart watches are the latest news in wearable devices. While Google Glass may be aiming for the eyes, developers around the world are firmly focused on the wrist, with projects from every major brand working to make smart, touchscreen-based, integrated smart watches the next big tech device. With new options like Cookoo, Martian, i’m Watch, Leikr, and Pebble already showing up at events like E3 – and corporations like Apple, Samsung, and Microsoft are working hard to make sure their smart watch innovations will wow the crowds. Thanks to all the innovation, this year we can expect trends such as:
Smart phones have had an inherent problem – there are not many features you can fit on such a small device with such a limited screen. Developers are beginning to solve that problem by integrating the watches with the nearly ubiquitous smartphones that everyone (especially potential buyers) seems to be carrying in a nearby pocket or purse. Using Bluetooth and similar communication technologies, smart watches are beginning to pull information from phones, borrowing on phone capabilities to enhance their own features. This means integration with social media, map apps, email, and many other smartphone features – all without even touching the phone itself.
New Reasons to Workout
With Nike Fuelband, the previously mentioned Leikr, and similar devices, marketers are beginning to aim directly at the fitness crowd. Expect this trend to carry over directly to smart watches, which are readymade workout tools. Abilities to measure heart rate, distance covered, steps taken, and time spent on a particular activity are all up for grabs. This gives people an entirely new, often unexpected reason to buy a smart watch, so branding activities are sure to highlight these abilities. Fitness software can also neatly tie in with smartphone health apps for even more integration.
Fashion Meeting Tech – Again
One widely admitted problem with past experiments in the smart watch sector is appearance. Smart watches of the past were clunky, obvious, or just ugly, warding many potential buyers away. New efforts will spend a lot of time in the design stage to make sure that the watches look great as well as function properly. Slim, sexy wristband or bangle-like options will hit stores, while other companies will work on smart watches that look – but only look – like traditional designer watches instead. This trend may also lead to other types of smart accessories.
Apps for the Home Automation Market
Imagine a smart watch app that let you unlock the door, turn on the lights, and adjust the heat – all before you even stepped up to the porch. Smart watches abilities that tie in with the also-growing market of home automation are sure to be highlighted in 2013. This includes integration with security alarms, environmental controls – and perhaps even refrigerators, TVs, and laundry machines.
While flexible screen technology is still nascent, many developers hope it will reinvent the smart watch market entirely. Flexible screens are more comfortable, slimmer, and still offer basic color options. These features can solve several of the current smart watch problems. Currently flexible components are weighed down by hurdles in the design process, but expect some basic flexible watches to be leaked, at least toward the end of 2013.
Alex Landon is a professional blogger that enjoys discussing firearm related topics. He writes for Tradingplacepawn.com, a Pawn and Gun shop in Georgia.


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UPDATE: April Fool's is over folks, so it's time to own up: This post is a prank. Except, of course, for the part about Japan. The folks there need our prayers and support. Japanese companies like Canon enrich our lives immeasurably, and I wish them all the best in the coming months.
This just in: Canon has announced the successor to the 7D, its flagship APS-C sensor digital SLR. The new Canon 8D surpasses the 7D with industry-leading 24-megapixel resolution, a top burst speed of almost 10 raw images per second (to a maximum of 32 images), a swivel LCD screen, full HD video, and, for the first time in a Canon SLR, support for 3D imaging.
Unlike the optical 3D technology offered by existing digital cameras and camcorders, the 8D uses sonar technology to create a 360-degree 3D rendering of a subject. The data can then be imported into surround video systems to create immersive images of landscapes and other subjects that literally wrap around the viewer — much as surround-sound systems envelop the listener in sound.
To display surround images generated by the Canon 8D, consumers will need video systems complying with the 3DS video standard, which is expected to debut in products by Samsung and Panasonic by early summer 2011.
According to a Canon spokesman, the 8D is the company's first camera to utilize a 64-bit quad-core processor, presumably to handle the large raw files and 3D images.
This "announcement" is, of course, an April fool's prank. But there's nothing funny about what's happening in Canon's home country, Japan. The products created by the folks at Canon, Nikon, Sony, Pentax, and other camera manufacturers bring the world untold enjoyment and utility. I thank them for what they do, I wish them well in the coming months ahead, and I encourage everyone to support them and to keep them in their thoughts and prayers.
And yes, I'm looking forward to seeing what the real 8D will offer.


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Vivo’s gaming brand iQOO is currently working on its next flagship smartphone dubbed iQOO 3 Pro. After launching numerous affordable devices, it looks like the brand has refocussed on the flagship segment. This is not the first time we’re hearing about the smartphone. In fact, it appeared on GeekBench for benchmarking back in June. Well, the device has now knocked at 3C for the certification. As expected, the listing has revealed some key information as well.
iQOO 3 Pro will feature 55W fast charging!
Gizchina News of the week
Vivo iQOO 3 Pro surfaces on 3C listing with the model number V2024A. Although the listing doesn’t really mention the moniker, it is rumored to be iQOO 3 Pro. As per the listing, iQOO 3 Pro will be bundled with a 55W fast charger. Sadly, the listing doesn’t really talk about anything else. As mentioned earlier, the device previously made its appearance on GeekBench. That appearance revealed that the device will pack 8GB of RAM and will run on Android 10.
The listing also mentioned the “Kona” motherboard which points towards both Snapdragon 865 and 865+. As of now, there is no concrete evidence for which chipset the device will make use of. Earlier the device was thought to belong Vivo’s X or NEX lineup but turns out, it is indeed iQOO’s offering. With that said, more information should arrive forward in the coming days or weeks.
To recall, the original iQOO 3 comes with a 6.44-inch Super AMOLED panel with Gorilla Glass 6 and HDR10+. The device makes use of Snapdragon 865 chipset paired with up to 12GB RAM and up to 256GB onboard storage. It also comes with 55W fast charging that charges the 4,400 mAh battery to 50% in 15 min.
Launch seems imminent!
Considering the device has now appeared on 3C listing, it is safe to assume that the official launch is quite near. Generally, a smartphone launches a month after making its appearance on 3C listing for certification. If that’s the case, then we should see the device getting official in August. With competitors launching their own 2020 gaming devices, iQOO might be looking to grab the consumer’s attention soon. Well, we’re just speculating here so take this with a pinch of salt.


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When Joyce Yang’s family fell on hard times she turned to online auctions for help.
In July 2002, the interior decoration business run by Yang’s father in Taipei was struggling and both of her older brothers were unemployed.
Compounding the family’s financial problems, Yang’s mother fell ill and was forced to quit her sales job, giving up a monthly salary of around NT$30,000 (US$868). With no income of their own, Yang’s parents turned to her to help the family make ends meet; but Yang’s receptionist salary of NT$30,000 wasn’t enough to keep the family going.
Needing to find a second source of income, 25-year-old Yang turned to eBay Inc.’s Taiwan auction site, figuring she could raise a little bit of cash for her family by selling some of her old clothes online. Encouraged by the enthusiastic response from buyers, Yang soon began selling new clothes, purchased at a Taipei market, and demand soared.
Today, Yang, who still lives at home with her parents, no longer works as a receptionist. Yang quit her job at the end of last year to focus solely on her online auction business, which earns her between NT$40,000 and NT$50,000 every month, she said. The most she has made in one month is NT$250,000, Yang said.
The popularity of online auctions has grown at a breakneck pace in Taiwan in recent months, mirroring Yang’s rapid success. With a relatively affluent population of 23 million, Taiwan is one of the most developed Internet markets in Asia and is seen as one of the most important emerging markets for online auctions in the region.
“Beginning from late last year, I would say Q4 last year, (our auction business) has grown quite quickly,” said Charlene Hung, director of e-commerce business services at Yahoo Taiwan Inc., noting that the number of transactions on Yahoo’s auction site has doubled in the past six months. Hung attributed this rapid growth, which eBay has also seen, to an increase in the number of broadband users in Taiwan and ongoing promotional efforts by the two companies.
While eBay and Yahoo are seeing rapid growth in Taiwan, Yahoo has a commanding lead over its rival, at least in terms of the number of items listed for auction on its site. Yahoo has nearly 2.4 million items for sale on its Taiwan auction site, compared with 166,000 items listed on eBay’s Taiwan site, according to a check of both sites on Aug. 12.
Yahoo also has an advantage over eBay in that its site is easier to use, said Yang, who has switched to Yahoo’s auction site along with many of her friends.
“Right now there is a huge gap between Yahoo Kimo auctions and eBay so we have a lot of advantage,” said Hung, referring to the brand name Yahoo uses in Taiwan. “Even if they grow a little bit, that won’t affect our market share.”
However, these are early days in Taiwan’s online auction business and the stakes are high. International markets like Taiwan have become an increasingly important source of revenue for both Yahoo and eBay and both companies say they are committed to building their presence here.
“The Taiwan market is very important to Yahoo’s business,” said Hung. “Taiwan ranks among the top five or seven key international markets.”
International markets are also an important source of revenue for eBay, which saw its 2003 second-quarter transaction revenue from international operations rise 146 per cent compared with the same period one year earlier, according to the company’s most recent quarterly report filed with the U.S. Securities and Exchange Commission. Riding that growth, international markets accounted for 31 per cent of eBay’s second-quarter transaction revenue, which excludes the revenue eBay earns from third-party advertising and other services.
“EBay is totally committed to this market and it’s part of a larger Asian strategy,” said Jeffrey Noles, the managing director of eBay Taiwan. “In 2001, we went in to Europe aggressively and now this is sort of the next stage.”
EBay and Yahoo have competed for online auction business in other international markets. In many cases, one of the companies has eventually conceded victory to the other, such as in Japan, where eBay withdrew last year after failing to make a dent in Yahoo Japan’s dominance of the market there.
In those markets where eBay has been more dominant, the two companies have negotiated agreements to work together, rather than compete.
In the most recent example of these collaborative efforts, Yahoo Australia & NZ Pty Ltd. announced plans to shutter its Sold.com.au auction site. Instead of competing against eBay’s Australian subsidiary, Yahoo now refers auction users to eBay’s site, which the company calls its “preferred auction service.” That follows a similar deal in Europe, where Yahoo last year shut down its own auction sites in six countries after signing an agreement to work with eBay.
As a result, Yahoo no longer operates its own auction services in Europe. Of the seven auction sites that the company still operates outside of the U.S., four of them – Hong Kong, Singapore, Japan and Taiwan – are in Asia. Those remaining are located in North American and South American markets.
How things will turn out in Taiwan’s online auction market, and which company will prove most successful here, remains to be seen.
“Right now we’re competing, maybe in the future we won’t be. We’ll see,” Noles said, acknowledging that an opportunity exists for eBay and Yahoo to work together.
Ultimately, success may depend on which company can both build a large online auction community and introduce fees for auction services. For now, neither Yahoo nor eBay charges a fee to list items on their auction sites, although they do sell advertisements to auction sellers looking to promote their products. Looking ahead, both companies plan to introduce such fees. It’s just a question of timing, according to both Hung and Noles.
“We always want to monetize (our auction business) but in the beginning auction markets are always free to the public,” Hung said. “The reason this is pretty important is that auctions are pretty new to all the users so we have to educate them.”
However, that process may be nearing an end as more and more Taiwanese turn to online auctions. “If we talk about how mature the market is, we see it’s almost ready for people to start paying a fee,” she said, noting that Yahoo is researching the effect that introducing auction fees would have on the company’s market share.
While Yahoo feels the time for introducing fees may be getting closer, eBay’s Noles is more cautious.
“What it’s ultimately going to take is when sellers feel it is a good idea,” Noles said. “They’re going to feel that when they know buyers are coming to a Web site and even though they’re selling a high-quality good, buyers can’t find that good because there’s so much trash on it. Then they’ll say, ‘Help me out, help us out. Make the quality on the site better.'”
“That time hasn’t come yet,” he said.
For her part, clothing seller Yang is opposed to the introduction of auction fees by Yahoo and eBay. “There’s no need for them to do that, they already charge enough money to place ads on their site,” Yang said, noting that she spends NT$4,000 to NT$6,000 of the money she earns every month to buy advertisements on Yahoo’s auction site.
When Yahoo does start charging auction fees, Yang plans to examine the financial impact on her business before she considers other alternatives. However, she ruled out a switch back to eBay, even if the company does not begin charging auction fees at the same time as Yahoo.
“Their site is too hard to use and customers don’t like that,” she said. “Maybe I’ll just open my own Web site.”


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India’s fuel demand falls in July as monsoon sets in
The demand for fuel dropped in the first half of July compared to the previous month due to fall in consumption and restricted mobility in several sectors owing to the monsoon season, preliminary industry data showed on Sunday (July 17).
According to data, diesel, the most widely used fuel in the country, saw consumption drop by 13.7 per cent during July – 3.16 million tonnes from 3.67 million tonnes demand in the same period of the previous month.
The arrival and intensity of monsoon weighs heavily on diesel demand in the country and consumption traditionally is lower in July-September than in April-June. Floods restrict mobility and demand from the farm sector, which uses diesel in irrigation pumps and trucking, also drops with the onset of rains.
The demand figures are in sharp contrast to that in June this year when fuel consumption increased by 17.9 per cent in June as compared to the same period in 2021.
The demand for fuel in June in rose as people sought to travel to colder areas amid the heatwave plaguing the country, and due to vacations during annual breaks at educational institutions.
Even though global oil prices have surged due to disruption in supplies following the Russia-Ukraine war, India’s decision to buy cheaper Russian fuel provided a cushion to consumers who were spared of shelling out more money on fuel.
Diesel demand was however almost 27 per cent higher year-on-year, supported by strong economic growth and a relatively low baseline for the same period in 2021 when a second wave of COVID-19 had impacted the economy.
Consumption of diesel was 43.6 per cent higher than the 2.2 million tonnes demand during July 1 to 15 of 2020. It was 13.7 per cent more than pre-COVID July 2019, the data showed.
Petrol sales fell 7.8 per cent to 1.27 million tonnes in the first half of July when compared to 1.38 million tonnes consumption in the same period of the previous month.
The consumption was, however, 23.3 per cent higher than July 2021 and 46 per cent more than the first fortnight of July 2020. It was 27.9 per cent more than pre-COVID July 2019.
As the aviation sector opens up, India’s overall passenger traffic (both domestic and international) at airports inched closer to pre-COVID-19 levels.
Accordingly, jet fuel (ATF) demand grew by 77.2 per cent to 247,800 tonnes during July 1 to 15 when compared year-on-year. It was 125.9 per cent higher than July 2020 but 17.7 per cent lower than pre-COVID July 2019. Month-on-month, sales fell 6.7 per cent.
With strong economic growth of 7.1 per cent, India’s oil demand has been rising steadily since the country eased pandemic lockdowns.
“Monsoon months traditionally are low consumption months but overall oil demand will continue on its growth trajectory during the rest of the year,” an industry official told PTI.
The government had on March 25, 2020, imposed a nationwide lockdown to control the spread of coronavirus. The complete lockdown, which halted mobility and crippled business, was slowly eased after two months.
Cooking gas LPG sales were up 14.15 per cent year-on-year to 1.24 million tonnes in the first half of July. This despite a ₹50 per cylinder hike in prices.
LPG consumption was 16.6 per cent higher than July 2020 and 8.6 per cent more than July 2019.
Month-on-month too, the demand was up 8.3 per cent when compared with 1.15 million tonnes LPG consumption during the first half of June, the data showed.
(With inputs from agencies)


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Amazon hires up to 100,000 new employees to support the delivery of goods and critical supplies. As the online demand increases due to social distancing and self-isolation because of COVID-19, Amazon works hard to keep things running smoothly. Specific product categories see a high increase in demand. Amongst these are household essentials and medical supplies. Earlier, the
Cloud-based e-commerce solutions provider ChannelAdvisor announced its support for Amazon.nl. This enables merchants with a European unified account to directly list and sell their products on the new Dutch marketplace. They can manage the new marketplace through their familiar ChannelAdvisor suite of tools. More than 85% of the Netherlands’ population shops online. This
Tecnocap, a global player of metal packaging, enters into India and the Far East. At the same time, it signs a joint venture with Indian producer of metal and plastic packaging Oricon Enterprise. "This joint venture marks our full entry into the Indian and Far Eastern markets and represents a key stage in our international growth strategy," comments Michelangelo Morlicchio,
Nearly half of the consumer budget for tech and durable goods in 2020 will be occupied by the smartphone. In a research study by GfK, it is concluded that this is a total turnover of €444 billion. The demand for smartphones is expected to stay stable in 2020, after a slight decline of two per cent in units in 2019. An estimated 1.37 billion smartphones will be sold globally.
In response to the recent developments related to the Coronavirus (COVID-19), Amazon just announced it will block inbound shipments to their warehouse, reports ChannelEngine. A select number of categories is not affected by this measure. As a result, sellers will see a never-ending loading icon in their seller central when trying to access FBA-shipments. The measures will be


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Not only has the Three Forks High School Cross Country team excelled throughout the 2021 season, but they are also shining outside of competition. A recent food drive conducted by the team produced an incredible 400 pounds of food for the Headwaters Area Food Bank.
Head Coach Tara Forsberg said it is a yearly tradition on the last day of junior high practice to have a scavenger hunt and figured the high school team could enjoy some different for practice. Forsberg sent them out with the team wagons and told them to collect as much food as possible in an hour and a half.
"I offered small prizes to the team that came back first with a full wet wagon and the team that came back with the most food. Those were not the same teams. The kids had a great time doing some community service, and we will definitely repeat that next year," Forsberg said.
Food Bank Operations Manager Kim Gelder was thrilled with the donation.
"It was really great. This week we were finally able to reopen to our customers 100%. They can finally come in and shop and pick out their own items again. Food drives bring in many more choices for our customers to pick from, which is a win-win for everyone. We love to see kids get excited to collect food. We will help out any group that wishes to do a food drive," she said.


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The motor industry is campaigning against changes to the car testing regime, highlighting safety risks that potential changes to the MoT system could cause.
Drivers would collectively save £100m a year under proposals being consulted on by the government to delay when a new car needs its first MoT test to check its roadworthiness from the current three years to four. The requirement for annual tests after that would remain.
Such a change would mean a financial hit to the industry in lost test fees, with about 2.5m cars taking their first test each year at a typical cost of about £45 for the checks which measure cars’ emissions levels, as well as safety and roadworthiness. Other revenue generated from replacement parts and labour would also be delayed.
Changing the first MoT would bring the UK into line with much of Europe - though the proposal is not related to EU regulations.
However, industry body the Society of Motor Manufacturers (SMMT) is calling for the government to give up on the change, citing safety concerns.
SMMT research found eight out of 10 drivers said the test fee is worth the peace of mind of knowing a car is safe and legal. Seven out of 10 raised concerns that delaying a car’s first MOT could put them and other road users in danger.
The results drove the trade group to call for a U-turn on the plans, a reversal it said was backed by eight out 10 drivers.
“MoTs are is an essential check on the safety and roadworthiness of vehicles,” said Mike Hawes, SMMT chief executive. “Extending the first test from three to four years is not what consumers or industry want given the serious risk posed to road safety and vehicles’ environmental performance.”
Almost one in five cars fail the checks when they take their first MoT, according to the SMMT, which calculates an extra 500,000 unsafe cars could be on UK roads if the change were to go through.
Keeping the requirement has not found such strong support from motorists’ organisation the AA.
Its research revealed that 44pc of members backed the change, 26pc were against it with the remainder ambivalent.
Modern cars are becoming much more reliable and safer said Luke Bosdet, from the AA’s policy unit, and this could mean that MoTs are not required so soon in a vehicle’s life.
“Cars now have the ability to ‘squawk’ and tell their drivers when their is a problem with the tyres of battery, as well as more fundamental mechanical models,” he said.
“This could be an opportunity for the car industry to extend the warranty on new cars to four years, with drivers getting protection from their car alerting them to problems which need to be fixed.”


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Kia KY MPV will likely go on sale next year in India and it is said to be based on the same platform as the Seltos
The latest set of spy images emerged on the internet indicated that Kia is indeed working on a brand new MPV. Internally codenamed the KY, it will be the second MPV launch from the South Korean auto major as the Carnival is sold in three variants currently and it made its local debut at the 2020 Auto Expo.
While the Carnival targets upmarket customers, the Kia KY will certainly be different as it will sit in a more volume based MPV segment. It will have plenty in common with the Seltos mid-size SUV, which is the second best-selling model in its space and is also heavily localised. Typical to a MPV, it will likely measure an overall length of around 4.5 metres.
We do expect Kia to position the KY between Maruti Suzuki Ertiga and Toyota Innova Crysta and thus it could target Mahindra Marazzo, which is priced between Rs. 11.64 lakh and Rs. 13.79 lakh (ex-showroom). Thus, Kia’s three-row MPV will likely be slotted in a similar price bracket but in an expansive range as the Seltos.
In a traditional fashion, the test prototype shows the presence of tall pillars for an SUV and up front, the wraparound headlights and LED Daytime Running Lights could be seen as in the Sonet compact SUV. It will have the signature Tiger Nose grille section, chromed design elements, new Kia logo and 16-inch alloy wheels with MRF Wanderer rubber as in the Seltos.
It is expected to be powered by the same 1.5-litre petrol and 1.5-litre diesel engines as in the Seltos. The former produces a maximum power output of 115 PS and 144 Nm of peak torque while the latter kicks out 115 PS and 250 Nm. Both are connected to a six-speed manual transmission while automatic transmissions will also be offered.
Features like a large 10.25-inch touchscreen infotainment system with Apple CarPlay and Android Auto compatibility, UVO Connect, steering mounted controls, panoramic sunroof, 360-degree camera, wireless charging facility, cruise control, automatic climate control, ambient lighting, multiple airbags, HUD, ventilated seats, etc could be available.


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The headline economic figures for the United States look robust. However, details show concerning weaknesses.
Real gross domestic product (GDP) growth surged to 4.9 percent in the third quarter, above the consensus estimate of 4.5 percent. However, some analysts, including Bloomberg, expected up to 5 percent growth based on the Nowcast estimates.
U.S. unemployment also is low, at 3.8 percent, although real wage growth remains negative, according to the Bureau of Labor Statistics. Between September 2022 and September 2023, the decrease in real average weekly earnings was 0.1 percent. This means that a tight labor market isn’t improving the real disposable income of workers. In addition, the labor participation rate and employment-to-population ratio remain below pre-pandemic levels. Add rising taxes to inflation, eating away at wage growth, and you can see why things are more complicated than what headlines suggest.
The cracks in the bullish story will appear soon. Consumer spending grew at a strong 4 percent annualized rate in the third quarter, which surprised most analysts after a weak 0.8 percent in the previous reading. The worrying fact is that this rise in consumption comes mostly from higher debt, as U.S. consumers are borrowing heavily to spend on entertainment. The rise in services was 3.6 percent, while real disposable income is negative (-0.1 percent) and household credit card debt reached a new record.
Unsurprisingly, credit card debt rose to a new high of more than $1 trillion, with the average consumer running a $5,900 debt on his or her card, according to the Federal Reserve Bank of New York. Last year, credit card interest rose to $105 billion, and this year will be much higher.
Americans are living on borrowed time as real salaries have remained in negative territory in the past five years and inflation is eating savings away.
More concerning figures in GDP: A strong economy doesn’t show a decline in investment of this magnitude. Nonresidential business investment fell by 0.1 percent, including a 3.8 percent slump in equipment investment. According to Morgan Stanley, capital expenditure plans have fallen to May 2020 levels.
The mirage of construction also is gone, as it fell to just 1.6 percent after a one-off double-digit increase in the past quarter. Furthermore, a large part of the growth in GDP came from bloated government spending that was financed with more debt and inventory revaluation, adding 0.8 and 1.4 percentage points to GDP growth. Many of these temporary effects will revert in the fourth quarter.
The level of public debt is exceedingly concerning. The increase in GDP between the third quarter of 2022 and the same period of 2023 was a mere $414.3 billion, according to the Bureau of Economic Analysis, while the increase in public debt was $1.3 trillion—to $33.6 trillion from $32.3 trillion—according to the Treasury.
The United States is now in the worst year of growth, excluding public debt accumulation, since the ‘30s.
Consumption financed by soaring credit card debt and economic growth disguised by enormous government spending and record public debt aren’t indicators of a strong economy but proof of a very worrying trend that may last another two quarters and likely result in a much weaker economy in the next three years.