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It is newly minted conventional wisdom that not a single information security conference goes by without a presentation about the abysmal state of Internet of Things security. While this is a boon for researchers looking to make a name for themselves, this sorry state of affairs is definitely not beneficial for anyone who owns a connected device.
IoT device owners aren’t the only ones fed up, though. Right behind them is Eldridge Alexander, manager of Duo Labs at Duo Security. Even better, he has a plan, and the experience to lend it some credibility.
Before assuming his current role at Duo Security, Alexander held various IT posts at Google and Cloudflare. For him, the through-line that ties together his past and present IT work is the security gains that accrue from aligning all of a network’s security controls with the principle of zero-trust.
“I’ve basically been living and breathing zero-trust for the last several years,” Alexander told LinuxInsider.
Simply put, “zero-trust” is the idea that to the furthest extent possible, devices should not be trusted to be secure, and they should be treated as such. There are many ways zero-trust can manifest, as it is not so much a singular technique as a guiding principle, but the idea is to leave yourself as invulnerable to the compromise of any one device as possible.
A recurring theme among his past few employers, this understandably has left its mark on Alexander, to the point where it positively permeates his plan for IoT security on home networks. His zeal for zero-trust comes to home networks at just the right time.
Although consumer IoT adoption has been accelerating, zero-trust has yet to factor into most consumer networking tech, Alexander observed, and we’re getting to the point where we can’t afford for it not to.
“Investigating not really new threats but increased amount of threats in IoT and home networks, I’ve been really interested in seeing how we could apply some of these very enterprise-focused principles and philosophies to home networks,” he noted.
In Alexander’s home IoT security schema, which he unveiled at Chicago’s THOTCON hacking conference this spring, zero-trust chiefly takes the form of network segmentation, a practice which enterprise networks long have relied on.
In particular, he advocates for router manufacturers to provide a way for home users to create two separate SSIDs (one for each segment) either automatically or with a simple user-driven GUI, akin to the one already included for basic network provisioning (think your 192.168.1.1 Web GUI).
One would be the exclusive host for desktop and mobile end-user devices, while the other would contain only the home’s IoT devices, and never the twain shall meet.
Critically, Alexander’s solution largely bypasses the IoT manufacturers themselves, which is by design. It’s not because IoT manufacturers should be exempted from improving their development practices — on the contrary, they should be expected to do their part. It’s because they haven’t proven able to move fast enough to meet consumer security needs.
“My thoughts and talk here is kind of in response to our current state of the world, and my expectations of any hope for the IoT manufacturers is long term, whereas for router manufacturers and home network equipment it is more short term,” he said.
Router manufacturers have been much more responsive to consumer security needs, in Alexander’s view. However, anyone who has ever tried updating router firmware can point to the minimal attention these incremental patches often receive from developers as a counterclaim.
Aside from that issue, router manufacturers typically integrate new features like updated 802.11 and WPA specifications fairly quickly, if for no other reason than to give consumers the latest and greatest tech.
“I think a lot of [router] companies are going to be open to implementing good, secure things, because they know as well as the security community does … that these IoT devices aren’t going to get better, and these are going to be threats to our networks,” Alexander said.
So how would home routers actually implement network segmentation in practice? According to Alexander’s vision, unless confident consumers wanted to strike out on their own and tackle advanced configuration options, their router simply would establish two SSIDs on router setup. In describing this scenario, he dubbed the SSIDs “Eldridge” and “Eldridge IoT,” along the lines of the more traditional “Home” and “Home-Guest” convention.
The two SSIDs are just the initial and most visible (to the consumer) part of the structure. The real power comes from the deployment of VLANs respective to each SSID. The one containing the IoT devices, “Eldridge IoT” in this case, would not allow devices on it to send any packets to the primary VLAN (on “Eldridge”).
Meanwhile, the primary VLAN either would be allowed to communicate with the IoT VLAN directly or, preferably, would relay commands through an IoT configuration and management service on the router itself. This latter management service also could take care of basic IoT device setup to obviate as much direct user intervention as possible.
The router “would also spin up an app service such as Mozilla Web Things or Home Assistant, or something custom by the vendor, and it would make that be the proxy gateway,” Alexander said. “You would rarely need to actually talk from the primary Eldridge VLAN over into the Eldridge IoT VLAN. You would actually just talk to the Web interface that would then communicate over to the IoT VLAN on your behalf.”
By creating a distinct VLAN exclusively for IoT devices, this configuration would insulate home user laptops, smartphones, and other sensitive devices on the primary VLAN from compromise of one of their IoT devices. This is because any rogue IoT device would be blocked from sending any packets to the primary VLAN at the data link layer of the OSI pyramid, which it should have no easy way to circumvent.
It would be in router manufacturers’ interests to enable this functionality, said Alexander, since it would offer them a signature feature. If bundled in a home router, it would provide consumers with a security feature that a growing number of them actually would benefit from, all while asking very little of them in the way of technical expertise. It ostensibly would be turned on along with the router.
“I think that’s a valuable incentive to the router manufacturers for distinguishing themselves in a crowded marketplace,” Alexander said. “Between Linksys and Belkin and some of the other manufacturers, there’s not a whole lot of [distinction] between pricing, so offering home assistant and security is a great [distinction] that they could potentially use.”
IoT Security Standards?
There is some promise in these proposed security controls, but it’s doubtful that router manufacturers actually would equip consumer routers to deliver them, said Shawn Davis, director of forensics at Edelson and adjunct industry professor at the Illinois Institute of Technology.
Specifically, VLAN tagging is not supported in almost any home router devices on the market, he told LinuxInsider, and segmenting IoT from the primary network would be impossible without it.
“Most router manufacturers at the consumer level don’t support reading VLAN tags, and most IoT devices don’t support VLAN tagging, unfortunately,” Davis said.
“They both could easily bake in that functionality at the software level. Then, if all IoT manufacturers could agree to tag all IoT devices with a particular VLAN ID, and all consumer routers could agree to route that particular tag straight to the Internet, that could be an easy way for consumers to have all of their IoT devices automatically isolated from their personal devices,” he explained.
VLAN tagging is not restricted by any hardware limitations, as Davis pointed out, but is merely a matter of enabling the software to handle it. Just because the manufacturers can switch on VLAN tagging in software, that doesn’t mean it will be an easy matter to convince them to do so.
It’s unlikely that router manufacturers will be willing to do so for their home router lines and, unsurprisingly, it has to do with money, he said.
“A lot of the major companies produce consumer as well as corporate routers,” Davis noted. “I think they could easily include VLAN functionality in consumer routers but often don’t in order to justify the cost increase for feature-rich business level hardware.”
Most router manufacturers see advanced functionality like VLAN tagging as meriting enterprise pricing due to the careful development that it requires to meet businesses’ stricter operational requirements. On top of that, considering the low average technical literacy of home users, router manufacturers have reason to think that power user features in home routers simply wouldn’t be used, or would be misconfigured.
“Aside from the pricing tier differences,” Davis said, “they also might be thinking, ‘Well, if we bake in VLANs and other enterprise-based features, most consumers might not even know how to configure them, so why even bother?'”
Beyond cajoling router makers to enable VLAN tagging and any other enterprise-grade features needed to realize Alexander’s setup, success also would hinge on each manufacturer’s implementation of the features, both in form and function, Davis emphasized.
“I think each manufacturer would have different flows in their GUIs for setting up isolated VLANs, which wouldn’t be the easiest for consumers to follow when switching across different brands,” he said. “I think if IoT security was more standards-based or automatic by default between devices and routers, overall security in consumer devices would greatly improve.”
Securing both of these concessions from router manufacturers would likely come down to ratifying standards across the industry, whether formally or informally, as Davis sees it.
“The different standards boards could potentially get together and try to pitch an IoT security standard to the router and IoT device manufacturers, and try to get them to include it in their products,” he said. “Aside from a new standard, there could potentially be a consortium where a few of the major manufacturers include advanced IoT device isolation in the hopes that others would follow suit.”
Alexander’s THOTCON presentation touched on the 5G connectivity that many predict IoT will integrate, but in exploring the viability of alternatives to his setup, Davis quickly gravitated toward Alexander’s proposal.
Connecting to IoT devices via 5G certainly would keep them away from home users’ laptop- and smartphone-bearing networks, Davis acknowledged, but it would present other challenges. As anyone who has ever browsed Shodan can tell you, always-on devices with seldom-changed default credentials connected directly to the public Internet have their downsides.
“Having your IoT devices isolated with your home-based devices is great, but there is still the possibly of the IoT devices being compromised,” Davis said. “If they are publicly accessible and have default credentials, they could then be used in DDoS attacks.”
Enabling IoT for direct 5G Internet connections doesn’t necessarily improve the security of end-user devices, Davis cautioned. IoT owners will still need to send commands to their IoT devices from their laptops or smartphones, and all 5G does is change the protocol that is employed for doing so.
“IoT devices using cellular 4G or 5G connections are another method of isolation,” he said, “but keep in mind, then the devices are relying even more on ZigBee, Z-Wave or Bluetooth Low Energy to communicate with other IoT devices in a home, which can lead to other security issues within those wireless protocols.”
Indeed, Bluetooth Low Energy has its share of flaws, and at the end of the day protocols don’t impact security as much as the security of the devices that speak it.
Regardless of how the information security community chooses to proceed, it is constructive to look to other points in the connectivity pipeline between IoT devices and user access to them for areas where attack surfaces can be reduced. Especially when weighed against the ease of inclusion for the necessary software, router manufacturers undoubtedly can do more to protect users in cases where IoT largely hasn’t so far.
“I think a lot of the security burden is falling on the consumer who simply wants to plug in their device and not have to configure any particular security features,” Davis said. “I think the IoT device manufacturers and the consumer router and access point manufacturers can do a lot more to try to automatically secure devices and help consumers secure their networks.”


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CV Villas is offering £50 flights to Corfu for customers who book a villa on the island this summer.
The offer is available from 1-29 April on bookings for travel between 29 May and 3 July.
The villa specialist says travellers who take up the £50 flights offer can save up to £1,260 on their holiday.
Up to four people on one booking can use the £50 offer, which applies to flights on CV Villas’ Enter Air charter, departing on Mondays.
Prices for a week’s stay at Villa Zacharenia (pictured) in Kalamaki start from £774 per person, including accommodation and £50 return flights based on four people.
Business Development Manager Chris Etheridge said: “With trade bookings currently up 30% this month versus March 2022, we know summer demand already exists.
“We want to help our valued agent partners to maximise the sales opportunities that come in over the next couple of months for Corfu.”

domain: news


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A new Apple store will soon open on Abu Dhabi’s Al Maryah Island, making it the tech company’s fourth outlet in the United Arab Emirates.
Apple’s Al Maryah Island store will overlook the waterfront promenade and “will be a home for customers to explore their creativity, discover new products and receive the best support from the new retail team,” said the Cupertino-based technology company on Thursday.
Apple unveiled a special barricade surrounding the storefront on Thursday morning.
The barricade pays homage to pearls and pearl divers, and what they represent to Abu Dhabi‘s history and culture.
“The pearl and the environment from which it was born is a great metaphor for the city’s growth and investment in its creative community as it races into the future,” Apple said.
The store will become a new place where the community can gather, learn and find inspiration, the company said.
“Visitors will be able to create, collaborate, and continue to experience the best of Apple, all in one place.”
Apple opened its revamped Yas Mall in Abu Dhabi last week, with the store now in a prime location and twice as large as before.
The wood and glass-themed store offers the full range of Apple products available in the UAE, as well as the company’s trade-in program and technical support.
“We look forward to continuing to bring the best of Apple to the UAE and building on our history in the region,” said Deirdre O’Brien, senior vice president of retail and people at Apple.
Since its first outlets opened in the US states of Virginia and California in 2001, Apple today has a network of 516 stores in 25 countries, according to the company’s website.
Apple stores have become an integral part of the company’s image and culture. From simple retail outlets, Apple has broadened its focus and integrated outlets into the culture and environment of their locations.
For example, The Dubai Mall store has what is called a Solar Wings balcony which is motorized and offers views of the Dubai Fountain, while its Marina Bay Sands outlet in Singapore has been designed as a “floating sphere “, making it the first Apple store. sit directly on the water.
In Italy, Apple has restored Rome’s Palazzo Marignoli, a 19th-century palace, to set up its 17th outlet in the country.
Apple, which has been operating in the Middle East for more than 10 years, already has three stores in the United Arab Emirates.
The first Yas Mall outlet opened alongside Dubai’s Mall of the Emirates branch in 2015 – making them the first Apple stores in the Middle East – while The Dubai Mall store followed in 2017. Together, these points of sale have welcomed approximately 30 million visitors to date.
Apple is the world’s most valuable company, with a current market capitalization of $2.88 trillion as of Wednesday’s market close.
Updated: February 10, 2022, 8:00 a.m.


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As Donald Trump and the word ‘Idiot’ are currently trending the most on Google search engine, Cybersecurity Insiders brings to you the most searched keywords related to Cybersecurity which trended on Google in 2018.
Cyptojacking- The word started to lead the trending list from May 2018 and is still said to be buzzing on the list. In simple terms, the word means unauthorized use of one’s computing device (Tablet, PC, Laptop, and Smartphone) to mine Cryptocurrencies such as Bitcoins, Monero or Dash. It’s done by inducing a hidden code which then starts benefiting 3rd parties.
Skimming- When hackers track down the numbers on a credit card and then transfer them to a duplicate card to carry out various fraudulent online purchases & transactions it is called Skimming. From Feb this year, the term was picked up in Google trends and it topped the list before the start of the holiday season this year.
Botnets- When internet-connected devices like CCTV, Smart TVs are taken over by hackers through malicious codes and used to launch cyber attacks such as Distributed Denial of Service, those devices are called Botnets. In simple terms, these devices act as launch platforms for cyber crooks to send spam and when in the network can inflict massive damage. The term started to buzz on Google since March 2018 and is still seen trending once or twice a month on the top.
DDoS- Distributed Denial of Service is a form of using fake internet traffic to jam the servers offering web services and thus preventing regular traffic from arriving at their desired destination. The said variant of cyber attack is of different types and hit the Google search engine deck in March’18 when US Based Arbor Networks fell victim to the largest DDoS attack in the history with a reaching peak of 1.7 Terabytes per second.
Ransomware- Although the said word is buzzing on Google from the past two years, it reached the peak in Google Trends in May 2016 when UK’s NHS and over 250,000 computers across the world were hit by WannaCry Ransomware. This year, the word has topped the Web search list as the term searched by more people in US, UK, and Australia. In this cyber attack variant, hackers are seen locking down a computer from access until a ransom is paid to them in digital currency like Bitcoins. As the most common method of spreading ransomware is through Phishing spam, the next word in this list happens to be the same.
Phishing Attacks- Phishing attacks are a type of social engineering attack often used to siphon off critical user data such as passwords, credit card numbers and other login credentials. It happens when a user clicks on a URL link which is entrusted to be sent from a genuine sender. And as soon as the user clicks on the link, the victim’s PC is either loaded with espionage-related malware or is diverted to a website which then locks down the computer from further operations until a ransom is paid.
The Dark Web- This word was most searched on Google web in 2018. It is also referred to as darknet which is an encrypted and anonymous portion of web-accessible only by Tor browser. As the TOR network is anonymous, it also stands out to be most vulnerable to DDoS attacks.
Malware- This word started to top the list of Google trends from Feb this year. It is an actually a software program devised to respond to the commands and downloads of a hacker and can be spread via emails, websites, text messages. Malware has the ability to spy, steal, encrypt or delete sensitive data, alter core functions of a server or PC.


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After almost six years since Ford put up everything it had as collateral to the banks, the coveted ‘Blue Oval’ is back where it belongs.
In December 2006, the American automaker was forced to raise $23.5 billion in liquidity, $18.5 billion of it which came from leveraging all of its domestics assets, including the F-150 and Mustang trademarks as well as even the brand’s Blue Oval logo.
It took Ford until September 2011 to completely pay back the loan, and in March 2012, Ford issued out its first dividend payment in almost six years. As a result of the turn-around, all the assets that Ford had put up as collateral are now free and Ford is once again whole.
“The Ford Blue Oval is back where it belongs with the Ford family of 166,000 employees around the world. This is a great day for us and is the result of several years of hard work and progress by everyone associated with Ford,” said Bill Ford, executive chairman of Ford Motor Company.
“We are so proud of today’s decision by Moody’s and the resulting release of all collateral – particularly the Ford Blue Oval. This is an important milestone and further proof that, by staying laser-focused on our One Ford plan, the Ford team can deliver great products, build a strong business and contribute to a better world even through the most challenging external environment,” added Alan Mulally, president and chief executive officer of Ford.


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November 30, 2012
One-thousand-dollar-per-ton prices, as good as they sounded at the time, might have been the worst thing to happen to the peanut industry, says Nathan Smith, University of Georgia Extension economist.
“As an industry, we’re probably going to regret $1,000-per-ton peanuts,” says Smith, referring to the run-up in prices last year caused by a peanut shortage. This year, there will be no such shortage, he says.
“We’ve got a flood of peanuts coming, and they’ll have to be moved somewhere this coming year,” says Smith.
“Our planted acres also were up this year. Our certified acres came out in mid-August, and they jumped up to a little more than 1.6 million after a little more than 1.1 million acres last year. There’s a huge estimate for yield, at 3,700 pounds per acre. We’ll have a really big crop this year.”
According to the October USDA crop production report, U.S. peanut growers planted 1.636 acres this year compared with 1.1 million acres in 2011. Yield per acre is predicted at 3,832 pounds compared with last year’s crop that averaged 3,386 pounds per acre.
Georgia’s estimated average yield is 4,150 pounds per acre, far exceeding the state’s record-high yield.
Peanut use, on the other hand, has slowed, says Smith.
“We’re seeing a similar situation as we saw in 2009, where we had a big carryover, and then prices went down in 2010,” he says.
The high average yield prediction is a result of more than 75 percent of the crop being in good to excellent condition, he says. The previous record-high average yield was set in 2009, when more than 70 percent of the crop was in the good to excellent range.
“It is a very good looking crop that was planted early, so planting and pegging were ahead of schedule. Crops are maturing slower this year, but growers are still making a big crop.
“We could very easily be at two tons per acre in Georgia when it’s all said and done.
“Using the U.S. trend yield, I would have figured this year’s yield to be around 3,450 pounds per acre. Looking at all peanut-producing states, most are not only above 3,000 pounds per acre but above 3,500 pounds.
“Arkansas could be on the USDA chart next year as a major peanut-producing state, because they have about 18,000 acres this year, according to FSA numbers.”
States likely to set record-high yields this year include Florida, Georgia, Texas and possibly North Carolina.
“So we’re looking at a big carryover from this year’s crop, double that of last year. We’ll have slightly less than next year’s use just in carryover.
“Looking at peanuts in cold storage, it has gotten tighter this year than in 2011. From a stocks-to-use ratio, it’s the lowest level we’ve had in years at 500,000 tons. That’s a little over two months of supply, and they like to have at least three months of carryover.”
If the U.S. ends up with a 3 million ton crop compared to 1.8 million tons last year, and there’s an increase in total use of about 2 percent, then there will be about 1.2 million tons in carryover, says Smith.
“I think we’ll have some increase in use, so I’m forecasting about 10 percent increase in domestic use. With a 3,700-pound U.S. yield, we’ll have about a 1.1 million-ton carryover.”
Imports have doubled this year because of last year’s short crop, at about 150,000 tons, says Smith. In a normal year, imports run at about 60,000 to 70,000. This led to prices increases for peanut butter and other peanut products, he says.
“We were looking good on use until they adjusted stocks-to-use processing numbers. On shelled edible use, we used about the same amount — 2 million tons — as the previous year for candy, peanut butter and snacks. Demand basically leveled off, with no growth for this past year.”
Exports are expected to increase some this year because of the lower value of the dollar, says Smith.
“The majority of our exports occur at Christmas and during the holidays. Europe is our largest export market, followed by Canada, Mexico and Japan. Peanuts going to Canada and Mexico are being processed and brought back in as products. Peanuts are popular as gifts in Europe, so that’s our best time for exports.”
Peanut prices for 2011-2012 averaged 33 to 34 cents and rose to more than 36 cents at one point on weekly prices, he says.
“Early peanut contracts in the Southeast were $650 to $700 per ton. They came in a little too high, but they ended up at $550 to $600 per ton, although the number of tons that could be contracted was limited.”
The government’s peanut quota program, says Smith, was successful at controlling supply and keeping things level.
“After the end of the quota program, shelled prices adjusted to the market, and farmer stock prices went down to $355 to $380 per ton on contract.
“In 2003 and 2004, we had low production, so farmer stock prices got up to $400 per ton. Manufacturers were happy because shelled prices got down to 32 cents.
“Then, in 2007 and 2008, we had a bull run on soybeans and corn and we lost peanut acres. We had a shortfall in peanuts, with shelled prices reaching 80 cents per pound, and farmer stock prices reached $500 per ton in 2008.
“That caused us to over-produce, and prices went down to $350 to $400 per ton in 2009 and 2010, and that’s what I expect for this coming year, $380 to $400 per ton.”
Growers who haven’t already contracted their peanuts are looking at the loan-rate now, says Smith.
“Loan rate means $355 per ton. If you put them in a nine-month loan, and that loan begins on the first day of the month that you put the loan in, you can hold them for eight or nine months and wait for the price to improve.”
When marketing the 2012 peanut crop, patience will be the key for non-contracted peanuts, says Smith.
It’s really a guess as to how many peanuts were not contracted, he says.
“In the Southeast, we have more of a history of planting additional acres and non-contracted acres, so there were more acres planted without contracts, and right now there aren’t any bids for them, so they’ll be pushed straight into the loan for $355 per ton.
“In the next few months or so you might have an opportunity to sell them in the spot market.
“The hopeful high would probably be $400 per ton. If you put them in the loan, it’ll take $380 to get them out of the loan unless the sheller agrees to pay for the storage costs and handling fees.
“If you forfeit them in the loan, the government will pay for the handling and storage of those peanuts. We know what the bottom price is going to be for peanuts if they’re going to come out of loan — it’ll be somewhere around $380.”
Growers can store them and wait for the 2013 crop to see what the expectations are and maybe get a little better price from where they are right now, says Smith.
“If you’re able to hold them and pay for the storage into January, and then put them in the loan, the last day you can apply for a loan on peanuts is Jan. 31.
“Then, you could actually get into next October for the loan. A lot of people do that, and it’ll put pressure on the shellers, because they need their warehouses cleaned out. They’ve got peanuts coming into the warehouse in September and October, and they don’t have enough room to store two crops.”
The loan will be tested this year, says Smith.
“In 2013, the shellers and manufacturers are going to try and find a price that won’t encourage more acres but won’t lose too many acres.
“Peanut acres definitely will be going down, I think to about 1.2 million or a little less. I expect exports to increase and consumption to go up because manufacturers will be trying to boost peanut sales.”
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Metropolitan Land recorded a 41.28% decline in profit
JAKARTA – The revenue and profit of PT Metropolitan Land Tbk (MTLA) went down in 2020 as a result of consumers’ awareness of their spending habits during the COVID-19 pandemic. The company’s profit only reached IDR 286.30 billion, decreasing 41.28% from the 2019 profit of IDR 487.62 billion.
In its 2020 Financial Report, quoted on Wednesday (7/4), Thomas Johannes Angfendy, MTLA President Director, revealed that the revenue was recorded at IDR 1.11 trillion, 20.88% lower than IDR 1.4 trillion in 2019. The gross profit and the earnings before tax also decreased to IDR 585.74 billion and IDR 286.44 billion from IDR 790.72 billion and IDR 490.46 billion in 2019.
The said report also showed that the sales decline occurred in almost every property products segment, including real estate, shopping centres, hotels, and others. The real estate sector contributed IDR 777.96 billion to the revenue, declining from IDT 905.74 billion in 2019. Then, the shopping centres added IDR 254.33 billion, lower than IDR 362.47 billion in 2019. The hotels added IDR 63 billion and went down from IDR 120.26 billion in 2019. Other products contributed IDR 25.12 billion, smaller than IDR 31.08 billion in 2019. (LK/ZH)


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She was an attorney at a big Chicago law firm. He was a Harvard Law student who landed a job there as a summer associate. He was immediately smitten. She wasn't so sure. But he won her over, and the couple sealed their budding romance with a kiss at the Baskin-Robbins ice cream shop in Hyde Park.
So goes the story of how Michelle and Barack Obama fell in love in 1989. And on Wednesday, a historical marker went up at the corner of Dorchester Avenue and 53rd Street noting the exact location where the couple had their first smooch.
A quote from President Obama, taken from an interview published in "O, The Oprah Magazine" in February 2007, is inscribed beneath an embedded photo of the couple.
On our first date, I treated her to the finest ice cream Baskin-Robbins had to offer, our dinner table doubling as the curb. I kissed her, and it tasted like chocolate."
As landscapers added the finishing touches, placing orange impatiens around the boulder placed in a flower bed near the entrance of the Dorchester Commons shopping center, curious residents trickled by to snap pictures.
The 3,000-pound granite boulder, commissioned by the owners of Dorchester Commons, was 2 1/2 years in the making, according to Jonelle Kearney, a spokeswoman for Mid-America Asset Management, which manages the shopping center. She said the idea came about after several queries from visitors.
"It's a marker for the community, for posterity and tourism, too," she said.
Linda Swift, 67, said the marker gives tourists another reason to visit Hyde Park, the Obamas' old stomping ground. It's not far from the Hyde Park Hair Salon on Blackstone Avenue, where the barber chair Obama used to sit in to get his hair cut is on display, enclosed in glass.
"We've got (Nation of Islam leader) Elijah Muhammad's house, Frank Lloyd Wright houses, the barbershop and now this," said Swift, who walked up the block with her camera after a friend stopped by and told her about the marker. "Now I can bring tourists to see this too."
Pearlie M. Farmer, 63, also thought the marker would be an asset in the neighborhood.
"This is great because 53rd Street is being revitalized with a lot of new businesses," she said. "This might draw more people to the area."
Though the Baskin-Robbins the Obamas visited has been replaced with a Subway sandwich shop, there is a different Baskin-Robbins a few doors down in the same shopping center. Some suggested that the site could become a popular spot for first dates and even marriage proposals.
But things are a lot different today than they were back in 1989.
Fifteen-year-old Justen Jackson, a ninth-grader at Hyde Park Academy, said it would be hard to find a girl who would be impressed with a first date at an ice cream shop.
"It's nice, but I wouldn't bring anyone here on a first date," Justen said. "They're going to want to go somewhere better than Subway or Baskin-Robbins."


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Chico's To Buy The White House For $90m
Women's fashion chain Chico's FAS Inc on Thursday announced it has agreed to acquire women's apparel retailer The White House Inc for $90 million.
The Florida-based operator of 413 stores will pay $85.6m in cash plus $4.4m in its own stock for the retailer which owns and operates 103 women's specialty stores under the White House and Black Market names.
Trendy apparel chain Pacific Sunwear of California Inc
on Monday posted an 83 per cent surge in second quarter
earnings as it was boosted by better operating margins
and strong same-store sales.
Spray-on 'AirStocking,' a micro-fine silk base and
foundation formula which gives women shades and coloring without the need
for panty hose, is shown in Tokyo, August 6, 2003. The Nissin Medico Co's
product, retailing for 1,600 yen ($13), comes in bronze, terracotta and
natural tones. The company is eyeing expansion into the U.S. and European
Playtex Launches Bras With Cups In Half Sizes
Leading lingerie designer and producer Playtex Apparel Inc on Monday launched a new line of bras featuring cups in half sizes.
The North Carolina-based firm said its patented sizing system innovation for its Thank Goodness It Fits line offers half sizes ranging from Nearly A to Nearly C in addition to traditional cup sizes.
"Seven out of 10 women wear bras that don't fit properly," said Tolli Love, marketing director for Playtex. "Women will now have more options for the proper size and style that will complement their figures."
Pacific Brands Buys Kolotex Hosiery, 130 Jobs Lost
Up to 130 textile workers are to lose their jobs after consumer goods firm Pacific Brands acquired the Kolotex hosiery business from Kolotex Australia.
Online Retailer Bluefly Enjoys Q2 Sales Lift
Online fashion retailer Bluefly Inc on Friday posted a wider second quarter net loss as margins fell despite a nine per cent rise in sales from the year-ago period.
The New York-based firm posted net loss of $2.1 million, or 27 cents a share, versus a loss of $1.5m, or $1.27 a share, in 2002, with sales up to $7.4m from $6.8m in the same period of last year.
"I am pleased that we achieved nine per cent growth in what was an extremely difficult retail period," said CEO Ken Seiff in a statement.
A government soldier wears woman's panties on his cap as
good luck "gri-gri" near Barnesville
Apparel Line's Nazi Symbols Spark Outrage
A fashion retailer in Hong Kong has sparked outrage by launching an apparel line featuring swastikas and other Nazi party symbols.
The firm, known as izzue.com, found itself in hot water with shoppers and officials after using similar distasteful images such as red banners with white swastikas on top of iron crosses at some of its 14 stores.
The casual line features includes T-shirts with Nazi symbols and pictures of Nazi leader Adolf Hitler.
Israeli Consul-General Eli Avidar told the South China Morning: "People were furious, hurt and shocked that such a thing could happen. It is unbearable to think that anyone can design a marketing campaign that desecrates the deaths of millions of people."
The company said today the designer wanted to give the collection a military theme and did not realise the symbols would cause upset.
It added it is now considering ditching the line and admitted some shoppers had complained about the collection and associated store decorations.
VF Intimates, Candor Hosiery Mills Sign Deal
Lingerie company VF Intimates LP on Wednesday signed a licensing deal with Candor Hosiery Mills Inc to produce a complete collection of Vanity Fair and Lily of France legwear products.
The hosiery and sock deal between the two North Carolina-based firms is for a full range of products including fashion socks, fashion tights and sexy sheer hosiery. Financial details were not disclosed.
The unit of apparel giant VF Corp said in a news release the new collection was previewed by retailers during August Market week in New York City with the assortment hitting stores in Spring 2004.
Fruit Of The Loom Axes Plant, 800 Jobs
Apparel maker Fruit of the Loom on Tuesday announced plans to axe its plant in Texas with the loss of almost 800 jobs.
The Kentucky-based company said the Harlingen factory, in the south of the state, was no longer viable, and will close with its 791 employees laid-off.
Fruit of the Loom, owned by Warren Buffett's Berkshire Hathaway, makes a range of clothing including men's, boys', women's and girls' underwear and intimate apparel along with childrenswear.
Lingerie America's Cat-walk finale, during their Aug. 3-5th
in New York City. See more on pages 3-4&5.
corset business expands
Corsets have been shaping up segments of the fashion industry for years -- and not always under cover, as entertainers such as Madonna can attest.
Now designers are creating dresses with built-in stays, or shaping bodices with corsetlike seams to achieve a close fit and emphasize the waist.
The Mae corset (Photo) ($200) revives the S-shape made popular circa 1905 and exemplified by "Gibson Girl" actress Camille Clifford.
And the growing interest has given a local company a boost.
Period Corsets, a Seattle company founded by Susan Davis and Rebecca Kaufman, got a mention in the August issue of Elle, along with a report on all the corset-inspired looks designers have shown for fall 2003.
Keith Wagner, Northwest fashion manager for Nordstrom, said he's been seeing corset looks for the past couple of seasons. Gucci used them. So did Roberto Cavalli. They've also been seen in Yves Saint-Laurent collections.
"This year it's part of our femininity trend. It's a return to emphasis on the waist. It's not necessarily as literal as a corset, but the corset details -- lace-up blouses, hook-and-eye closures, ribbon details, lace. Along with that trend you're seeing high-waisted pants that give that effect -- obi sashes, cummerbunds, wider belts, dresses with boning on top. I definitely think you'll see a lot of that in evening wear," Wagner said.
Period Corsets' basic cotton creations in black, white or peach are $175 to $275. They do special corsets for a bridal shop in Santa Fe, N.M., and their corsets have embraced cast members from "All My Children."
Although corsets -- the laced-up garments reinforced with bone, metal or plastic stays depending on the era -- faded from everyday fashion early in the 20th century, they remain in demand for theater and opera.
A sudden change of mind
My Dearest Susan,Sweetie of my heart. I've been so desolate ever since I broke off our engagement. Simply devastated. Won't you please consider coming back to me? You hold a place in my heart no other woman can fill. I can never marry another woman quite like you. I need you so much. Won't you forgive me and let us make a new beginning? I love you so.
Yours always and truly,
P.S. Congratulations on you winning the state lottery.
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Strong Retail Sales Jump-Start Economy
The upbeat sales reports issued Thursday halted a sluggish trend seen since last summer and raised hopes that consumers will be in the mood to spend for the critical back-to-school season.
Sales picked up for most retailing sectors. Business was strong enough at Wal-Mart Stores Inc. that the industry leader boosted its profit outlook for the second quarter. Sears, Roebuck and Co., Target Corp., J.C. Penney Co. Inc., and Gap Inc. were among the retailers reporting sales that beat analyst forecasts.
Even May Department Stores Co. eked out an increase in sales at stores open at least a year, surpassing analysts' forecasts. Sales at stores open at least a year, known as same-store sales, are considered the best indicator of a retailer's health.
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Department store chains on both sides of the Atlantic were in the news this week as they geared up for a bidding war between potential suitors.
Leading UK department store chain Debenhams on Tuesday accepted a £1.5 billion ($2.5bn) offer from investment group Permira for its 102-store network, but faced criticism from some shareholders who claimed the bid is too low.
But they may get their wish for a higher price as private equity firms CVC Capital Partners Ltd and Texas Pacific Group are still in talks over a possible joint takeover bid which could push the price up even further.
Several UK department store chains have been taken over in recent months and that trend now seems to be spreading to the other side of the "pond" with retail giant Bon-Ton Stores offering $80 million for rival Elder-Beerman.
That $7 a share offer trumps an earlier bid from Wright Holdings Inc of $6 a share and with Bon-Ton aiming to complete the deal in the next couple of months, Wright will have to respond sooner rather than later if it wants to emerge the winner.
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After a study of small to medium businesses in Australia, it was discovered that the access to business was a block to growth. Lack of alternative funding stopped companies expanding. Luckily the Interface Financial Group continues to support small and medium businesses by offering alternative funding such as invoice financing and factoring.
The IFG also provides short term financing such as invoice discounting across the globe.
David Hechter, chief operating officer for IFG in Australia said that small businesses will need to search for alternative forms of finance. “The banks have been very clear about the impact that the debt crisis in Europe is having on their own access to wholesale funding. As funding becomes more scarce, the credit criteria for the riskier segments – including small business – will continue to tighten. Small business in Australia needs to face up to this challenge and open up to the myriad of factoring companies that specialise in helping this segment with working capital finance.”
Invoice discounting allows SMEs to release capital tied up in invoices so that they have the cash to move forward, whether that’s to pay staff, pay bills or purchase new equipment, machinery and vehicles, and of course materials for production.
Invoice discounting belongs to the factoring family, a range of financial solutions which uses the best sources companies can have, their clients. Invoices are traded in for the capital and this is released back to the company, way before the pay day is due. This allows companies to move forward and expand, rather than have to wait up to 90 days for payment.
So if you are struggling financially but have invoices to send to customers, consider using invoice discounting and factoring to gain some capital. You will wonder why you never tried factoring before. Take time to contact a Factoring Lender for a quote.


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Market crash? Here's how digital gold can be an ideal option in 20223 min read . Updated: 28 Jun 2022, 02:04 PM IST
Read this article to understand how gold has historically performed during high inflationary periods and whether investing in digital gold is a lucrative option.
Although investing in the stock market seems like a lucrative option, it brings a set of high risks caused by frequent fluctuations. The growing instability brought on by Covid-19 as well as Russia’s invasion of Ukraine are recent incidents that have caused turbulence in the market. This has left investors worried, who are on the lookout for channels that can provide them with high returns and at the same time offer them security even when inflation is sky-high.
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With a revolutionary approach to hepatitis C and a price tag of $84,000 per 12-week treatment course, analysts expected big sales from Gilead's ($GILD) Sovaldi. Some even forecast it would reach $9 billion or more by 2017, at which level it would surpass Pfizer's ($PFE) Lipitor to take the crown for biggest-selling drug of all time. But none expected the exponential growth the drug is posting right now.
New Sovaldi prescriptions were up 20% week-over-week for the week ended Feb. 28--the 12th week of Gilead's launch. And according to ISI Group analyst Mark Schoenebaum, that has current projections looking rather slim.
"If prescriptions were to NEVER GROW AGAIN (i.e. flat-line from here), I estimate that 2014 sales will be $8B. If scrips grow an average of 1.5% week over week, I estimate that 2014 sales will be about $11B," he wrote in a note to investors. "The current sell side consensus estimate is around $4.8B."
And as RBC analyst Michael Yee notes, Sovaldi's weekly total prescriptions are tracking 114% higher than what Incivek--a Vertex ($VRTX) hep C drug that holds the title for fastest drug launch ever after raking in $1.56 billion in four quarters--did in its first full quarter of launch. Factor in Sovaldi's sticker price, which comes in about 70% higher than Incivek's cost at launch time, and he estimates quarterly sales of $1.27 billion, versus a consensus of about $550 million.
But this is only the beginning, according to the company, which says it still has a long way to go when it comes to winning over doctors--and, thus, lots of remaining room for sales growth.
Gilead "recently commented at our conference that so far only about 20% of the targeted docs have prescribed Sovaldi, indicating that the launch still has some way to go," Yee wrote in a note. "In that effort, the company also recently started DTC advertising, which may increase awareness of the drug and help maintain strong patient in-flow throughout the year."
Payers, of course, could change all that. January held threats of pharmacy benefits managers scouting about for new ways to control drug spending, with Express Scripts ($ESRX) reportedly ready to take a tough stance on the pricey new generation of hep C drugs. But Gilead has said payers are comfortable with the high costs, especially when looking at the long-term benefits--a new liver alone costs about $300,000 in the U.S., as COO John Milligan has pointed out.
Special Report: An ominous trend resurfaces as new drug approvals plunge in 2013 - Sovaldi: Gilead hits pay dirt with a breakthrough hep C drug
Medicaid health plans demand state help to cover pricey new hep C drugs
Gilead says payers feel comfortable with the cost of Sovaldi
Gilead backs exuberant analyst projections for new hep C drug
Spurred by pricey Gilead hep C drug, payers cook up new cost-control moves
Pricey hep C drugs, beware: Express Scripts plans a showdown


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Import PP prices drop below $1000/ton in China
A woven sack manufacturer reported purchasing some Indian raffia at $980/ton CIF, cash. “Sales for our end products are brisk due to the high season, although our business has not been as good this year as it was last year. We are sourcing only according to our needs for now as we believe that prices still have some room to fall,” the converter commented.
The buyer added that they also purchased some domestic raffia at CNY6850/ton ex-warehouse, cash inc VAT ($919/ton without VAT). “Attractively-priced domestic cargoes will maintain downward pressure on import prices in the days ahead,” a player stated. According to data from ChemOrbis Price Index, domestic homo-PP prices on an ex-warehouse China basis are currently trading at a discount of around $25-30/ton compared with import prices on a CFR China basis.
A trader who reported receiving an offer for Saudi Arabian raffia at $980-990/ton CFR stated, “Prices are down around $20-30/ton compared with last month. Supply is ample and we hear that some coal based PP suppliers are starting to make export offers to Southeast Asia countries.”
Import homo-PP injection and raffia prices currently stand at $960-990/ton CFR China, cash equivalent basis.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- RCEP to boost Asia-Pacific polymer trade; will global PP, PE trade flows change?
- PVC sellers’ India pricing strategy may differ from other Asian markets
- More US PE offers find way to China, SE Asia; yet allocations still limited
- European PVC market hits 2-year high on tightness
- Supply constraints send key ABS markets to new highs
- Tightness leads to renewed PP hikes in China; Saudi raffia moves above $1000 CIF
- Asian PVC players brace for 7th straight monthly hike in Taiwanese major’s delayed Dec offers
- Saudi major seeks hikes for November in global PE, PP markets
- Bullish sentiment for PE cools off across globe, LD remains resilient
- Bullish run for PVC enters 6th month in Turkey: Supply relief under question


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Lifesaving and lifestyle changing drones to take off in 2023
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After years of circling, the technology and regulatory stars are aligning for wide-scale drone use to take off in 2023 – with more than just pizza deliveries on the horizon.
Australian listed connectivity company, Elsight’s (ASX:ELS), is confident this is the year we’ll start to see regulation catch up with the technology – and drones disrupting crewed aircraft.
“It is not a question of if anymore, but a question of when and how fast, and being a major part of it is a great feeling,” CEO Yoav Amitai says.
“We’ve only started to scratch the surface with the use cases that will be enabled by this infrastructure, including delivering to remote or hard to get locations.
“The commercial drone sector is like the internet in the ‘90s, when we saw it move from national security to facilitating everyday life across the whole of society.”
Elsight’s Halo connectivity platform for Beyond Visual Line of Sight (BVLOS) – where the operator of the drone can’t physically see the device during some or even all of its flight, even across hundreds of kilometres – has won the company a range of contracts with drone delivery companies to date.
The catalyst for more BVLOS approvals came late last year when the Federal Department of Infrastructure gave the Civil Aviation Safety Authority (CASA) more discretion on drones.
CASA is now using this discretion to be proactive in streamlining electronic approvals for potentially lifesaving and lifestyle-changing applications.
These range from shark surveillance, bushfire and flood management to remote healthcare deliveries, urban grocery drop-offs and even verifying corporate carbon offset statements.
The company is also starting trials in the futuristic Israel National Drone Initiative, which has the goal of transporting heavy cargo and passengers to reduce road congestion.
Demonstrations will kick off in January 2023, consisting of one week of flights across the country per month for two years, with limited flight tests in areas without human presence before building up to sparsely populated areas and then eventually demonstrating services within urban areas.
Given the company’s strong Australian links and contracts with major drone delivery providers internationally, Elsight says learnings from the trials could potentially be applied to the plans for electric air taxis to be operating in Brisbane by the 2032 Olympics.
In the US commercial drone delivery has become a reality as retail giant Walmart expands its drone delivery operations to 36 hubs across six states with support from DroneUp.
The company has secured contracts with US-based DroneUp and Air Methods’ wholly owned drone subsidiary Spright, and Speedbird in Brazil.
Notably, DroneUp is part of US retail giant Walmart’s expanding drone delivery service to 36 hubs across six states which plans to reach 4 million homes this year, while Spright solves some of the toughest time sensitive challenges facing health services in the US.
Google-owner Alphabet’s Wing unit has already deployed delivery drones to hundreds of thousands of homes in Australia, Finland and Texas, and predicts millions more will be within range of drone deliveries in 2023.
On our side of the pond, Australia Wing operates through its partnership with Coles from Canberra, Brisbane, and the Gold Coast.
For the first time, CASA has approved BVLOS surveillance trials over Sydney beaches as part of the New South Wales Government’s more than A$85 million in shark mitigation measures over the next couple of years.
The trials will expand on the use of drones operated within visual line of sight by Surf Life Saving NSW.
In South Australia, a state reeling from devastating floods, drone player Carbonix has partnered with electricity distributor SA Power Networks to conduct BVLOS aerial inspection on remote electricity lines and other assets across its 180,000km2 footprint.
It’s just one example of drones providing a clear alternative to helicopters, with the added advantage that drones can prevent ground crews being sent out into dangerous weather to check on power infrastructure in flood-affected areas.
Plus, they’re also up to 75% cheaper to operate and emit 98% less CO2 than crewed aircraft, – making drone use an easy win in cutting greenhouse emissions.
Drones can also speed up asset inspection of utilities for bushfire preparedness and maintenance work, improving safety for the SA Power Network’s customers, 30% of whom are in remote areas.
Drones can also improve healthcare in regional Australia, with Swoop Aero recently awarded $1.8m in federal funding to expand operations that include transporting medical samples from remote locations to pathology labs.
Another use case for drones is as a vital tool in holding large companies to account on carbon emissions, via above ground, granular carbon calculations that satellites cannot do because the analysis must be so granular.
In Australia, with its huge distances, the use of drones instead of crewed aircraft provides an easy solution in terms of cutting emissions and to ensure transparency in corporate ESG statements.
Elsight believes the next disruptive event in the drone sector will come when regulations allow for “one to many” BVLOS operations, which is when a remote operator can control numerous drones at the same time, leading to remote operations at scale.
With more drones sharing the sky, other aircraft safety is a key priority and that’s where Elsight’s Halo comes in.
Spright, which delivers healthcare supplies by drone to some of the most difficult to reach communities in the US uses Halo, which leverages four major cellular networks, as well as satellites, to allow for safe and secure BVLOS drone operations.
That means the delivery and pick up of healthcare goods is becoming a safer and more efficient solution for companies like Spright who use Elsight’s software.
During the December quarter alone, Elsight added 11 new ‘Design Win’ partners – bringing the total number to 78 partners including one of the largest worldwide defence contractors.
‘Design Win’ is the company’s strategy to allow drone manufacturers to base their drone’s connectivity around Elsight’s Halo solution and nine of the new partners have already placed repeat orders during the period.
Elsight says this continued growth as more Halo’s are deployed to new and existing customers shows the unmanned market is really moving into mainstream commercial adaptation – and once regulations catch up to the technology even more growth is on the horizon.
This article was developed in collaboration with Elsight, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.


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Monetary Magic or Costly Complexity? Argentina, Global Trade, and Dollarization
The U.S. dollar has become increasingly important in everyday transactions. Argentina’s new president wants to make the dollar the official currency. What can it fix and what could it break?
Argentina's Dollarization Proposal
Javier Milei, President of Argentina, is considering adopting the U.S. dollar in place of the Argentine peso. Dollarization means citizens would be required to use U.S. dollars for all transactions instead of pesos. President Milei sees the dollar as a stabilizing force as a potential stabilizing force for Argentina's historically volatile economy. However, the ramifications of such a change would extend beyond Argentina’s borders, potentially influencing trade relationships with major partners such as Brazil, China, the United States, India, and Chile, which collectively account for over 50% of the country’s export destinations. These effects are complex and challenging to predict.
As the 28th largest exporter globally, Argentina's economy heavily relies on commodities, which comprise more than 60% of its exports. In November 2023, exports to China, including key products like frozen bovine meat and sorghum, totaled $588 million. Conversely, imports from China, primarily telephones and chemical products, were valued at $457 million. Trade with Brazil exhibited a positive balance of $17.7 million, driven by cars and semi-finished iron exports outvaluing imports of electricity and wheat. Trade with the United States was imbalanced in the other direction, leading to a significant trade deficit for Argentina.
The Exchange-Change Who Benefits?
The implementation of sudden dollarization calls for an undestanding of real exchange rate appreciation, an essential indicator for both importers and exporters. Real exchange rate appreciation reflects a currency's purchasing power in a foreign market compared to its domestic value. Argentina's adoption of the U.S. dollar may initially bring stability and boost investor confidence, potentially attracting foreign capital and increasing demand for local products and services. However, factors like aging infrastructure, high transaction costs, and existing trade barriers play a significant role in influencing the 'real' exchange rate, beyond market quotations. An inevitable rise in the real exchange rate occurs if local prices inflate or if U.S. inflation drops or maintains a lower rate. Consequently, Argentine goods and services become more expensive on the global market, despite a nominally fixed exchange rate.
The Federal Reserve focuses primarily on benefiting the U.S. economy, setting monetary policies independently of Argentina’s economic volatility, especially under dollarization. This situation leaves Argentina with limited leverage over risks to export sectors such as agriculture and mining, which are highly sensitive to price fluctuations. Sharp price increases could diminish Argentina's global competitiveness. Additionally, an unfavorable exchange rate might tip the scales in favor of imported manufactured goods, rendering them more appealing to Argentine consumers. In a dollarized economy reliant on sufficient U.S. dollar reserves, the management of foreign exchange earnings and currency-driven trade deficits becomes increasingly crucial."
Exchange Rate Rigidity: Solving a Problem or Creating One?
Adopting the U.S. dollar means losing control over currency valuation, a critical economic lever. Countries typically adjust their currency value to stimulate trade, making exports more competitive and imports more expensive. Yet, this strategy is not an option in a dollarized economy. Consequently, Argentina could experience ongoing trade deficits, particularly if its exports to China, India, or the U.S. show downturns. Moreover, Argentina's susceptibility to external economic fluctuations, such as changes in global commodity prices, could be significantly heightened, affecting dollar-reliant export sectors.
This shows how the agricultural sector, which exported significant amounts of wheat and soybeans to China, South Korea, and India in October 2023, might face reduced competitiveness and market access under dollarization. Reduced competitiveness could lead to job losses and lower wages, weakening the broader economy.
Lessons from Past Dollarizations
Argentina's historical flirtation with currency stabilization, specifically during the Convertibility Plan years in the 1990s, is a cautionary tale for the country’s current dollarization ambitions. The Convertibility Plan plan pegged the peso to the U.S. dollar on a one-to-one ratio, and the results produced a short-lived stability that fell apart almost immediately, leaving behind bitter lessons about the potential pitfalls of full dollarization.
Initially, the Convertibility Plan seemed a triumph, quelling hyperinflation and bringing economic stability. Yet, this was a fleeting success, soon leading to underlying systemic issues. The peg’s rigidity stripped Argentina of vital monetary policy tools, leaving it vulnerable during economic downturns and external shocks. Full dollarization would repeat that scenario unless the government enacts other safeguards to balance the effects of the loss of monetary autonomy on competitiveneess.
The Convertibility Plan made Argentine exports globally uncompetitive, leading to a ballooning trade deficit. The Plan also placed severe constraints on fiscal policy, a situation that would likely be repeated under full dollarization. The culmination of these issues was vividly illustrated in the 2001 “Corralito” crisis, a stark reminder of the dangers of rigid currency systems.
Recent experiences of other countries with dollarization also offer valuable insights:
- Ecuador (2000): After dollarization, Ecuador's inflation rate dropped from over 90% to single digits, showing immediate stabilization. However, it became more vulnerable to external shocks, such as fluctuating oil prices.
- Zimbabwe (2009): Zimbabwe's adoption of the U.S. dollar stopped hyperinflation, but it also led to liquidity problems and limited control over monetary policy, hindering economic growth.
- Panama (Since 1904): Panama has seen steady economic growth and stability with the U.S. dollar. Its unique position with the Panama Canal has significantly contributed to this success, highlighting the importance of context in dollarization outcomes.
External Vulnerabilities and Economic Dependence
As we have seen, dollarization ties Argentina's economic destiny to U.S. policies. A Federal Reserve decision to raise interest rates would tighten Argentina's monetary conditions, potentially hampering its economic growth. Fluctuations in the strength of the U.S. dollar, would be headline news in Buenos Aires, directly putting the brakes on trade competitiveness and accelerating trade imbalances.
Advocates of dollarization in Argentina recognize the challenges but believe that the benefits of stability, reduced inflation, increased foreign investment, strategic policy measures, and learning from past experiences can manage these challenges effectively. They emphasize the need for comprehensive reforms alongside dollarization to ensure its success. President Javier Milei faces balancing the short-term stability of dollarization with its broader effects on trade. He should explore alternative policies and strategies to address urgent challenges while dismantling obstacles hindering the economy.


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By Russ and Tiña De Maris
It’s been a tough year in the retail industry. Some 7,000 stores have closed, and 16 major companies have filed for bankruptcy. And the year isn’t over. What are the chances of a company going bust? That’s a big question among investors and, sure enough, there are companies that make their bread by calculating such risks.
Internet news publisher retaildive.com recently published findings from one of those companies, CreditRiskMonitoring, who produces a metric called a FRISK score that figures out the risk of a given company filing for bankruptcy in the next 12 months. On the list of “Retailers with a high chance of bankruptcy” is Camping World. It’s not a long list – only 12 other retailers occupy that ignominious roll, including the likes of J.C. Penney and Neiman Marcus. How “likely” is bankruptcy, according to CreditRiskMonitoring? The firm places Camping World on the list of a likelihood of chances between 9.99 percent and 50 percent.
Just how reliable is a FRISK score? According to FRISK’s parent, CreditRiskMonitoring, their score has “been proven 96% effective in predicting public company bankruptcies.” The metric is based on a variety of factors including credit ratings, financial ratios, credit analysis and other data the company compiles.
There have been rumors of Camping World teetering on the edge of financial ruin for some time. But as journalist Ernest Hamlin Abbott wrote, “Rumors are not news; but they sometimes foreshadow news.” The FRISK score may well be more than a rumor. Tomorrow’s news, itself, will tell.


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Ford and Toyota among global auto giants promoting open source software
In what appears like a move against Apple and Google, Ford and Toyota have established a non-profit organisation.
The new development is aimed at promoting open source software and delivering smartphone connectivity on future vehicles. Called the SmartDeviceLink Consortium, the organisation includes automakers Mazda Motor Corporation, PSA Group, Fuji Heavy Industries and Suzuki Motors in addition to Ford and Toyota. There are also suppliers like Elektrobit, Luxoft and Xevo. Further, Panasonic, Pioneer and QNX are also set to join the board. All these entities have apparently combined to rival Apple’s CarPlay and Google’s Android Auto.
“Connectivity between smartphones and the vehicle interface is one of the most important connected services. Using SmartDeviceLink, we can provide this service to our customers in a safe and secure manner,” said Shigeki Tomoyama, president of Toyota’s Connected Company, in a joint statement.
SmartDeviceLink offers developers an easy way to integrate their app’s functions with in-vehicle technology like vehicle display screen, steering wheel controls and voice recognition. The Consortium expects that industry-wide adoption of the SmartDeviceLink platform will give developers ‘broad scale’ and expand their app interfaces. The initial technology under SmartDeviceLink is based on Ford’s AppLink, which was released to the open source community back in February 2013. This open source project will be managed by Ford-owned Livio.


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Do you trust Germany? You should! Because Amazon Germany is right on the money! After posting a listing for Tomb Raider Trilogy, Crystal Dynamics confirmed via Twitter that a Tomb Raider Trilogy release was indeed in the works on PlayStation 3.
As always, these releases include remastered HD versions of previously released titles on PlayStation 2. This time around, the titles include Tomb Raider Legend, Tomb Raider Anniversary and Tomb Raider Underworld.
While Crystal Dynamics hasn’t announced a release date, the German listing points to March 22nd in Europe. Crystal Dynamics said to keep an eye for a full reveal next week.
Can’t say I’m too familiar with the Tomb Raider series. Any of the titles in the collection peak your interest?


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The present infrastructure spending, as part of a nearly US$600 billion stimulus package, will help but it is not going to fix China’s problems. Therefore, it needs to stimulate its domestic consumer spending.
It has successfully managed to depress or contain economic demand at home to produce exportable goods at cheaper prices with a skewed exchange rate. That option is now constrained because of the deep global debt crisis.
Therefore, it has to stimulate its domestic consumer economy. But there are two problems here.
First, China, both at the government and private level, puts great store by a high savings rate of about 30 percent. From the government’s viewpoint, a high rate of saving with low interest rates for its savers, contributes to China’s low cost economy.
And with high private savings as a cushion against adversity, China has been able to manage with the minimum spending on social services and the health of its people.
This must change. China needs to modernize its social spending to take greater care of its people’s education, health, old age and related services. This is long overdue.
The expansion of the social services sector will create domestic demand for a whole range of jobs and goods with a multiplier effect on the economy.
More than anything else, China badly needs to revive and upgrade its rural sector. It can no longer afford to use its depressed rural economy to subside the urban industrial sector.
If it wants to create a broadbased and sustained domestic economy, it needs to put more resources into the rural economy.
This is necessary not only to bridge the urban-rural gap, but also to expand the domestic economy through increased consumer demand beyond the urban middle class of about 300 million people.
It is important to note that 800 million or more of China’s rural folk have been largely left out of China’s industrial economy.
An expanded domestic economy will also create demand for foreign goods once China undertakes to revalue its currency to better reflect the international exchange mechanism.
There is a need for China to shed its hoarding mentality of building up currency reserves, and large domestic savings for some sort of rainy day. It is no longer vulnerable to the foreign manipulation and occupation of the 19th century.
A reinvigorated Chinese economy with a strong domestic base can play a useful role internationally.
But with its historical baggage of a “century of humiliation” and a Leninist political system, it might not be able to deliver.
Sushil Seth is a writer based in Australia.


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Total SA FP Borealis AG and NOVA Chemicals Corporation said Monday that their affiliates have signed definitive agreements to form a petrochemical joint venture on the U.S. Gulf Coast.
Total will own 50% of the joint venture, with the other 50% held by Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals.
The joint venture will include an ethane steam cracker–which is under construction in Port Arthur, Texas–an existing polyethylene facility owned by Total in Bayport, Texas and a new polyethylene unit at Total’s Bayport site.
“We look forward to working with Borealis and NOVA Chemicals to create world-class facilities and become a major player in the growing U.S. and global market for polyethylene,” said Bernard Pinatel, president of refining and chemicals at Total.
NOVA Chemicals, which is headquartered in Canada, is wholly-owned by Mubadala Investment Co. of the Emirate of Abu Dhabi.
Through its holding company, Mubadala owns 64% of Borealis, with OMV AG (OMV.VI) holding the remaining stake.
The financial details of the deal, which is subject to customary closing conditions, weren’t disclosed.
By Sonia Amaral
International Chemical Investors Group (ICIG) has entered exclusive negotiations with Nippon Soda and made what it said is a “firm and binding offer” to acquire the Japanese group’s offshoot Métaux Spéciaux (MSSA), a sodium metal specialist.
Aligning with the SC’s key initiatives on responsible plastic recycling, Coca‑Cola Middle East’s pilot of 100% rPET bottles marks the first time the packaging will be in circulation at a FIFA World Cup tournament and serves as Coca‑Cola’s debut in locally producing the bottles in the region.
Through the transaction, Neste is acquiring a leading UCO collection and recycling business on the US West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington. Together with the previous acquisitions (…) the transaction continues to enhance Neste’s global raw materials sourcing platform.


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If in basketball it's 'live by the three, die by the three,' in Tesla's (TSLA) world it's live by Elon Musk or die by the guy. Tesla fanatics-and investors-breathed a sigh of relief on Thursday as the stock rocketed more than 16%, or $48.70 per share, to $349.54, after Musk promised that Tesla would be profitable each quarter going forward. Not so new, I know, but he also did the unthinkable and actually apologized for something. Musk apologized to the two Wall Street analysts he embarrassed on the first quarter earnings call. He blamed a lack of sleep last time. Tesla's net loss for the three months ending in June came in at $718 million, or $3.06 per share, the company said, wider than the $2.90 per share loss that analysts had predicted, although excluding some one-off items, that figure narrowed to $2.45 per share. The group burned through $740 million in cash over the three month period, but that figure was well below the $900 million expected by analysts.
Activist can be relentless, as we found out on Thursday when Roark Capital Group's Focus Brands acquired activist-targeted Jamba (JMBA) for $200 million. But it wasn't a quick process for the Jamba Juice parent or its insurgent investor Glenn Welling. Students have completed full undergraduate education programs in the time it took Jamba to finally sell. The deal occurred about four years after Welling, who runs Engaged Capital, and another activist fund manager, James Pappas, joined the board of Jamba Juice in a January 2015 settlement. Welling had first accumulated a 7% stake between May and July 2014 and has been accumulating periodically ever since, reporting most recently an 18.25% stake. The sale price of $13 a share in cash represents a slight win for Welling, whose cost basis was about $11 a share, though the profit was many years in the making. The campaign was a difficult slog for Welling who has had more investment success elsewhere, writes The Deal's Ron Orol. Engaged succeeded in pushing Jamba towards a franchising model but the juice chain experienced some headwinds, partly due to its 2016 headquarter relocation from Emeryville, Calif. to Frisco, Texas, which included some layoffs.
Markets Today: U.S stocks rebounded to close mostly higher on Thursday as gains by Apple (AAPL) and Tesla offset concern about the latest round of trade tensions between the U.S. and China. The Dow Jones Industrial Average ended off 7, or 0.03%, at 25,326, after trading more than 200 points lower early in the session. The S&P 500 rose 0.5%. The Nasdaq reversed its early losses, thanks in part to a good day for Apple, which saw the consumer tech company eclipse the $1 trillion market cap threshold. Wow, ONE TRILLION. Amazing.
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We are honoured to have won the Best Machinery Manufacturer in this year’s Furniture News Readers’ Choice Awards.
Editor Paul Farley said: “Our third annual reader vote over our multichannel campaign attracted even more interest this year,” says our editor-in-chief, Paul Farley. “Receiving the most votes in any category is a huge endorsement from our readers, and sends a clear signal to the trade that you should be any serious buyer’s first port of call. Well done!”
An annual celebration of the suppliers and advertisers who are going above and beyond to keep and support businesses in the furniture industry.
The suppliers that are reliable, honest, flexible, personable, innovative, and always willing to go the extra mile if required, whose products are the stars of your shop floor, the winning component in your furniture, or your optimum business platform or network.
Since their launch in 2021, the awards have gone from strength to strength, with huge numbers of trade professionals casting their votes.
Read the full magazine here (we’re on page 65)
They also featured a recent deal, new machinery and the launch of AutomateTek online and on page 8


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He provided an overview of Toyota’s view of the year ahead, their new brand and vehicle strategy as well as the direction their future vehicle design and technology will take.
Although Toyota Motor Corp. has experienced record profits in 2012, the automaker may be jeopardizing this success due to their latest announcement.
Three Hiluxs, including two “6×6” models, completed the expedition running Jet A-1 fuel to deal with the extreme cold.
The U.S.-designed sedan will have its global premiere in the Galleria room within the Jacob Javits Center at 10:30 a.m.
In a new report by anti-theft system maker LoJack, a vehicle gets stolen every 43 seconds. Some of the most commonly owned cars in the U.S are still being heisted at an alarming rate.
When Toyota and Subaru decided to combine their many strengths to create an entirely new true sports car, enthusiasts asked two questions.
Fuji Heavy Industries Ltd is the parent company of Subaru and Fuji Heavy president Yasuyuki Yoshinaga recently stated that the goal is for the Subaru Gunma factory in Ota City, Gunma Prefecture Jap
The Toyota Prius c may be the smaller sibling in the Prius family, but that doesn't mean it won't make a big impact in the world.
If you want to see where the future of racing is pointing to, look no further than the bleeding edge technology platform of prototypes.
I should start my review of the 2012 Toyota Camry Hybrid XLE by saying that I am a fan of high performance cars and trucks that provide inspired driving – presumably with nice, loud V8 engines.
Last year, Toyota gave 100 cars to 100 deserving charities in 100 days in its 100 Cars for Good program.
In an effort to reach out to "Generation Y" with the Toyota Prius c, Toyota is today launching a new ad campaign.
This Toyota Tacoma recall pertains to certain 2005, 2006, 2007, 2008 and early 2009 model year pickups with a total number of roughly 495,000 possibly affected by this recall.
This recall specifically affects 2009 Toyota Camry models and Toyota Venza models from the 2009, 2010 and 2011 model years; with 186,500 vehicles included in total with 70,500 of those being Camry


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After nearly 25 years of smoking, Tim Marchman wanted to quit. Still, he didn’t want to be what he called the “vape guy,” the kind of person who spends hours in specialty stores choosing from dozens of electronic nicotine delivery devices, most of them quite elaborate. So he settled on what struck him as the simplest option, Juul, a brand that has been practically synonymous with vaping for a while.
“Juul is the default,” said Mr Marchman, editor at the Vice Media tech and science site. motherboard, he said in an interview. “Just plug and play.”
Unlike some other e-cigarette brands, Juul was also widely available. “It’s at gas stations in the middle of nowhere,” said Mr. Marchman.
This is likely to change.
On Thursday, the Food and Drug Administration told Juul Labs stop selling your devices in the United States, citing scant and conflicting data from the company on potentially harmful chemicals that could leak from Juul’s e-liquid pods. On Friday, a federal court granted the company a temporary suspension, allowing it to keep its e-cigarettes in stores pending regulatory review of the FDA’s decision.
Like other converts, Mr Marchman says he has no plans to switch back to tobacco if it turns out he can no longer buy his preferred brand of e-cigarettes. Still, he wonders how the FDA order might affect his habit.
Read More About Smoking and Vaping
“Do I need to bring my vape juice with me if I go out of the country?” said Mr. Marchman, 43, who lives in Philadelphia. “Where to get it? I barely know where to get it in Philly.”
The FDA order followed years of criticism over the possible adverse health effects of Juul products and how they were delivered. addressed to young people with a variety of sweet flavors such as mango, crème brûlée and mint, and youth-oriented marketing campaigns.
The pioneer company of Juul Labs was started in 2007 by James Monsees and Adam Bowen, a pair of entrepreneurs who came up with the idea for a tobacco alternative while on a cigarette break during their time as graduate students at Stanford University. When Juuls was first sold in 2015, the brand’s popularity soared in part because of the strength of a brand. live ad campaign Photo of teenagers smiling, laughing and posing strikingly under the word “evaporated”.
then one came rain of lawsuits filed by state attorneys general, accusing the company of promoting nicotine addiction among youth through its advertising campaigns. Juul paid tens of millions of dollars to settle cases in 2019 and 2021. The rise and fall of the company from Silicon Valley success story to public health pariah in the 2021 documentary “Move Fast and Vape Things“By the New York Times.
Although Juul lost its business after restricting its advertising following lawsuits, it remained one of the most visible and popular e-cigarette brands on the market. For Matthew Luther, 31, who lives in Detroit and repairs leather goods, the news of the possible ban was upsetting.
“I will definitely miss the Juuls,” said Mr. Luther, 31. “I think they were better aesthetically. They can easily be thrown in your pocket and refilled.”
Like others interviewed for this article, he said he appreciated the simple design of the Juul device, similar to a flash drive. “The ban seems back to me,” he said.
The FDA decision came as Mr. Luther increased his use of Juul products. “I think it’s just life, stress and trying to quit smoking,” she said.
Rivals to Juul including puff stickhas grown in recent years. But for many, Juul remains as synonymous with vaping devices as Kleenex is for textures.
Jenny Mathison, who started using the brand in 2018, said, “When I think of e-cigarettes, I think of Juul.” It was the only nicotine alternative he had found to kick the Marlboro habit he had picked up in high school. , she added.
Ms. Mathison, 54, who lives in Rancho Mirage, California and is a full-time caregiver for her disabled husband, said she would switch to a rival brand, Vuse, if the FDA passed.
For Philadelphia editor Mr. Marchman, the FDA order, if approved, could cause him to morph into the type he’s long feared to be – a vape guy.
“I’m going to end up with a weird vape device that I don’t completely understand,” said Mr. Marchman. “I will have to choose a device, try different juices. It will be one whole.”
Sandra E. Garcia contributing reporting.


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McAfee and Mastercard expand partnership to improve security for small businesses
According to the latest FBI Internet Crime Report, malicious cyber activity resulted in more than $10 billion in losses in 2022, with a large portion of this affecting small businesses. Small and medium-sized companies often rely on credit cards for daily financing.
Providing Mastercard Business cardholders with savings on security technology solutions is essential to help safeguard business owners and their companies from cyberattacks.
McAfee is the first and only cybersecurity partner for Easy Savings, expanding its existing partnership with Mastercard, which started with McAfee Total Protection for Mastercard – 5 Devices and McAfee Total Protection for Mastercard – 10 Devices cardholder offerings in the U.S.
“Running a business is no easy feat, especially with the fast-evolving threat landscape and growing prevalence of cyberattacks,” said Pedro Gutierrez, SVP Global Sales at McAfee.
“We’re thrilled to expand our partnership with Mastercard to make our industry-leading solutions more accessible to its small business cardholders so they can stay secure and focus on their companies,” Gutierrez added.
Mastercard Easy Savings makes it easier for small business owners to run, grow and secure their businesses by providing rebates on everyday business expenses across categories that matter most.


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For years, the Chinese government has helped its companies take the lead in key technology sectors, but with the US-imposed trade war causing an economic pinch, it remains to be seen if Beijing will change its policy.
In an article published in the Harvard Business Review in 2010, two economists predicted the ongoing trade war between the United States and China.
That year China surpassed Japan and became the world’s second largest economy right behind the United States, a spot it still maintains.
Thomas Hout and Pankaj Ghemawat, the authors, saw China helping steer its companies into the high-tech era, something they said would create friction with the US and European governments.
Beijing was forcing multinational companies to share their technology and designs with local Chinese partners in sectors such as high speed rail and renewable energy, says Hout.
“So we figured that this race will continue and Western governments will make attempts to contain it and that’s exactly what’s happened,” he told TRT World in a recent interview.
Since last year, the US and China have targeted each other’s exports with tariffs. Washington accuses Beijing of devaluing Chinese currency, the renminbi, to make its exports cheaper and stealing technology from American firms.
The US trade deficit - the difference between exports and imports - with China hit record high of more than $323 billion in 2018.
The two sides are now in talks to diffuse tensions and officials expect some sort of an outcome later this month.
But the trade war has cast a shadow on the global economic outlook.
Experts have raised doubts if it will convince Chinese leaders to implement much-needed reforms such as reducing the size of its dominant public companies.
It also highlights the shortcomings of American businesses.
In the 1980s, the US was embroiled in a similar trade dispute with one of its closest allies - Japan.
Japanese cars, stereos and TVs flooded the US market and American lawmakers weren’t happy about frequent layoffs at local factories.
They accused Tokyo of deliberately devaluing its currency and not opening the market for US-based telecommunication equipment makers.
But the late Akio Morita, the co-founder of Japan’s electronic giant Sony, at the time said that American executives were prioritising quick profits over long-term stability by moving production overseas to low-cost centres.
“This phenomenon is leading to what I call hollowing out of American industry. America’s industrial establishment is being reduced to a mere shell, and the same is happening all over Europe,” he wrote in his book Made in Japan.
There was also dispute over Japanese telecoms companies outpacing their American counterparts. Morita said that was because of better quality of Japanese products.
Any claim to the contrary wouldn’t hold since products such as switchboards were bought by experts who specialised in the sector and not the general public, he said.
But Japan didn’t pose diplomatic challenges to the US, says Hout.
Japan depends on US security and often toes Washington’s line on international affairs, he says. “China on the other hand is a geopolitical rival of the United States.”
A question of trust
The US-China trade war has coincided with Washington-led attempts to ban Chinese tech giant Huawei from participating in the upcoming 5G network rollout.
Despite cybersecurity concerns and facing a boycott by the US market, Huawei has become the world’s largest telecommunications company, making and selling fibre optic cables, base stations and internet routers.
The US and its allies such as Australia and New Zealand fear that the Chinese government could use Huawei equipment for espionage.
Up until now no one has been able to provide any evidence of so-called backdoors in the Huawei equipment that can be used to spy on people or institutions.
Experts say the issue has become politicised since the arrest of Huawei’s Chief Financial Officer Meng Wanzhou, in Canada, on Washington’s extradition request.
The fact that Western companies, such as Cisco, source components for their products from China, goes against the argument that steps against Huawei are purely based on cybersecurity concerns.
Modern electronics contain tiny components, which companies source from different countries, says Olav Lysne, a Norwegian professor of technology and author of the book The Huawei and Snowden Question.
“I believe most equipment would have components made in China,” he says, adding that it is exceptionally hard to have a “full provenance of an equipment down to the tiniest component”.
But the American and European companies would be under increasing pressure to make much of their products in-house, he says.
China has not helped itself by using opaque ways to force foreign companies to share trade secrets with their Chinese joint-venture partners.
“One of the features of that policy is that it’s not written anywhere,” says Hout. “The Chinese don’t write procedures. They simply carry them out at both the national and provincial level.”
The World Trade Organisation (WTO) prohibits rules that require forced technology transfers as a trade off for granting access to market. But in the absence of any hard evidence, it’s difficult to penalise Beijing.
Western companies desperate to sell their goods in the fastest-growing market for everything from electric cars to solar panels didn’t complain.
In their article, Hout and Ghemawat said that the US-China trade dispute was basically about “connecting two big, very different economic systems”.
For the US, it’s important that China opens up its market and the government plays a smaller role in commercial activities. But that’s not what Trump is aiming for.
According to reports, the settlement of the trade dispute revolves around China agreeing to buy hundreds of billions of dollars worth of agricultural and industrial products from the US.
Whatever the final outcome, a quick resolution of the trade dispute is important. Otherwise, Zhou Xiochuan, China’s former central bank governor, warns: “[It will] create lots of problems for Chinese economy, for US economy, and for the global economy.”


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What you need to know
- A pricing rumor claims the OnePlus 12 could see an increase with its base iteration arriving at $799 and its larger storage variant at $899.
- The OnePlus 12R could become a mid-range competitor as it could see a $499 and $599 price tag for its two variations.
- OnePlus is gearing up to reveal its next set of devices globally on January 23.
OnePlus is set to reveal its next wave of Android phones, however, a pricing leak might've given us an idea of what to expect.
According to TechPuls, the Chinese OEM might look to keep the OnePlus 12 at an expected flagship while dropping the price of its alternative (via 9to5Google). Regarding the former, leaks suggest the OnePlus 12's 12GB RAM/256GB internal storage setup could arrive at $799. Things could jump slightly higher for its 16/526GB variant, with leaks purporting an $899 price tag.
The OnePlus 12R could see mid-range pricing as the publication states it may arrive at $499 for its 8/128GB version. A "cheaper" trend continues as its 16/256GB variant could see a $599 tag once it launches overseas.
It's worth noting that the rumored OnePlus 12R pricing encroaches on Google's small Pixel 7a, which packs strength similar to its larger flagship series phones.
The OnePlus 12 launched in China in December as a flagship phone with significant hardware improvements over its predecessor. The device arrived sporting a 6.8-inch QHD+ display with a 120Hz refresh rate and a 5,400mAh battery. The phone also comes strengthened by Qualcomm's Snapdragon 8 Gen 3 SoC.
While the device does have a 1TB internal storage option, at least in China, the rumors don't touch on its pricing for those overseas.
The Chinese OEM's premium mid-range phone, the OnePlus 12R, was confirmed to arrive outside India alongside its larger sibling. Known as the "Ace" series in China, the rebranded device is typically a slightly scaled-down version of the flagship model, but with specs that would keep it appealing enough. OnePlus also showed off the design of the 12R, giving consumers some excitement about its Cool Blue and Iron Gray colorways.
A specifications leak suggests the device may arrive with a 6.7-inch OLED display with a 120Hz refresh rate, Snapdragon 8 Gen 2, and a 5,500mAh battery with 100W fast charging.
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Nickolas is always excited about tech and getting his hands on it. Writing for him can vary from delivering the latest tech story to scribbling in his journal. When Nickolas isn't hitting a story, he's often grinding away at a game or chilling with a book in his hand.


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As Tesla’s CEO and the world’s richest person, Elon Musk is in the news and faces controversies regularly. Recently, he has been in the news for his offer to acquire Twitter. His acquisition is facing a stockholder lawsuit after it was cleared by the company’s board. The FTC is also said to be investigating Musk’s purchase of the microblogging site.
Musk has a huge and growing Twitter following and is popular on social media. Many on social media have been guessing Musk’s next purchase after Twitter. Some have even been speculating whether he will leave Tesla to focus on Twitter.
Musk isn't leaving Tesla anytime soon — here's why.
Despite the rumors, Musk isn't leaving Tesla anytime soon. There are multiple reasons why Musk, a smart business leader, wouldn't leave Tesla. First, Tesla is the biggest company in Musk’s business empire. He's the biggest Tesla stockholder and his holdings are valued at over $140 billion. To put that in perspective, Musk’s net worth is around $265 billion.
Tesla stock would crash if Musk were to leave.
In 2021, Tesla stock crashed when Musk said that he would sell 10 percent of his holding in Tesla. If Musk left Tesla, the stock would crash badly. While it would mean losses for Tesla stockholders, it would also shave billions off of Musk’s net worth.
Tesla is the largest automaker by market cap and none of the legacy automakers even come close. One may attribute the company’s valuation premium to its high growth, strong brand, and the software side of the business, which includes the Autopilot as well as the yet-to-be-launched robotaxis. However, a significant premium comes from the company's association with Musk.
Tesla is synonymous with Elon Musk.
It would be fair to say that Tesla is synonymous with Musk, just like it is with electric cars. Musk has been a key driver of the company’s growth. He has been the company’s main business strategist and the de facto lead marketeer. With Musk at the helm, Tesla doesn't need to spend on marketing and advertisement.
While Musk might not have founded Tesla in the strict sense, the two look inseparable. In 2021, Musk tweeted that he thought about quitting his jobs to become a full-time influencer. However, like many more Musk tweets, it was a hoax at best and meant to keep his fanbase engaged on the platform.
When would Musk leave Tesla?
Musk is 50 years old and isn't ready to leave the company anytime soon. Eventually, Musk might have to find a successor for the company. From Bill Gates to Larry Page and more recently Jeff Bezos, founders eventually step down and hand over the baton to others.
There are plenty of examples where the transition from the founder to a new CEO has been fruitful. Apple stock has done incredibly well under Tim Cook, while Alphabet investors have also enjoyed good returns under Sunder Pichai. Amazon stock has sagged under the leadership of Andy Jassy but that has more to do with the fall in stay-at-home companies.
Will Musk become Twitter’s CEO?
Some have been speculating whether Musk would become Twitter’s CEO. While Musk’s plate might appear full since he's leading multiple companies including Tesla and SpaceX, it isn't something that we can rule out at the moment.