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Morocco/Israel: Direct flights between Tel-Aviv & Essaouira in September
Israeli Arkia Airline Company will operate direct flights between Tel-Aviv and Essaouira starting next September under an agreement it signed Friday in Salé, near Rabat, with Moroccan National Tourist Office (ONMT).
The new direct flight by Arkia Airlines will have a total capacity of 11,000 seats.
Commenting the deal, ONMT Chief, Adel El Fakir, stressed the importance of the new Israeli direct flights for the Moroccan inbound tourism, saying the new route comes to meet a growing demand from Israeli market.
For his part, Arkia’s Director Gad Tepper said he is upbeat over the pertinence and financial gains of the new airline service that will enable thousands of Israelis to travel to Essaouira to enjoy its popular historical sites.
In 2022, nearly 75,000 Israeli tourists visited Morocco, up 87% compared to 2019. At the end of June 2023, some 39,000 Israeli travelers visited the North African Kingdom, a 35% increase compared with the same period of 2022.
According to Moroccan Tourism Observatory, Israeli tourist arrivals soared by 146% during the first half of 2023 compared to the same period in 2019.
Since the normalization of relations between Rabat & Tel Aviv in 2020 under the U.S.-brokered Abraham Accords, visits and contacts between Moroccan and Israeli officials intensified, culminating with the signing of a series of cooperation accords in tourism, trade, industry, defense, cybersecurity, technology, scientific research, culture, agriculture, water, healthcare, security…


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Veterans Day falls on Wednesday, November 11 this year, and since it’s a federally recognized holiday, most banks will be CLOSED today, including Chase. The banking institution will reopen and resume regular business hours on Thursday, November 12.
Veterans Day is one of two federal holidays that Chase observes in November. The next bank holiday is Thanksgiving, which falls on Thursday, November 26, followed by Christmas Day on December 25 next month. Christmas Day will be the last bank holiday of the year for 2020. Keep reading for details on Chase’s holiday schedule:
Chase Will Be Closed on Thanksgiving & Christmas Day This Year
The Federal Reserve observes 10 holidays each year, including minor holidays like President’s Day, Columbus Day, and Martin Luther King Jr. Day. You can check out a full list of holidays the Federal Reserve observes below, courtesy of the Federal Reserve website:
- New Year’s Day (Wednesday, January 1)
- Martin Luther King Jr. Day (Monday, January 20)
- Presidents’ Day/Washington’s Birthday (Monday, February 17)
- Memorial Day (Monday, May 25)
- Independence Day (Friday, July 3)
- Labor Day (Monday, September 7)
- Columbus Day (Monday, October 12)
- Veterans Day (Wednesday, November 11)
- Thanksgiving Day (Thursday, November 26)
- Christmas Day (Friday, December 25)
Most banks, including Chase, belong to the private sector and are not required to close on any federal holidays, although many choose to close because they rely so heavily on the Federal Reserve to process daily transactions.
Although Chase will be closed on Veterans Day, online and mobile banking options will still be available, as well as regular ATM machines. So if you didn’t plan around the bank holiday or forgot to withdraw money on Tuesday, fear not – you should still have access to your funds throughout the day.
Chase Remains Open For Most Minor Holidays, Although Some Locations May Have Limited Hours
When it comes to the holiday schedule for the Federal Reserve, the website reads, “For holidays falling on Saturday, Federal Reserve Banks and Branches will be open the preceding Friday; however, the Board of Governors will be closed. For holidays falling on Sunday, all Federal Reserve offices will be closed the following Monday.”
Although the Federal Reserve observes minor holidays like Columbus Day and MLK Day, customers can expect regular business hours on most other holidays each year. According to Banks.org, “If a holiday is not listed below, such as Christmas Eve, New Year’s Eve, Good Friday, Halloween, St. Patrick’s Day, or Black Friday, then Chase banks will be open for business on that day.” The website also adds, “When starting a transaction close to a holiday, make sure to understand that an extra day or two may be required for processing.”
It’s worth noting that even when Chase (and most other banking institutions) are open on days like Christmas Eve or New Year’s Eve, some branches may have limited hours, depending on your location. Branches located inside grocery stores and other businesses may also close early or stay open later, so we always recommend calling ahead to check the hours of your local branch before making a trip during the holiday season.

domain: news


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Pressac claims over £1.7bn hole
Just 10 weeks after acquiring a Scottish-based plastic moulding maker, electronics manufacturer Pressac has discovered a £1.7m black hole that has led it to make a claim for alleged breach of warranty and misrepresentation.
Pressac paid £24m for WH Smith & Sons (Scotland) in mid-August. It makes mouldings for mobile phones. Pressac chief executive Geoff White said analysts had reduced pre-tax forecasts for the group by £1.7m to £30m. Pressac shares slipped 10p to 210p.
White said Pressac's mobile phone components business has grown from nothing two years ago to sales of more than £16m. It has changed its year-end from July to December and declared a second interim dividend of 3.48p. Pre-tax profits on continuing operations before exceptionals increased 19% to £25.2m.
Despite the Scottish setback, White anticipates 'significant expansion'.
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Embarrassing suck-up post by Henry Blodget crediting "Barack Obama and Steve Rattner" with more-or-less saving General Motors, which "now plans to be profitable ... at a 10-million-unit US annual rate of sales, versus the 15 million previously" and which "has a new car that some people actually want to buy--the Camaro--which apparently gets 29 miles per gallon with 300 horsepower." ... Blodget's analysis: "Exciting!" ... a) "Barack Obama and Steve Rattner." I wonder how poor Ron Bloom feels. Bloom may have more power on the Obama auto task force than Rattner but he doesn't have the media connections. b) If General Motors doesn't "turnaround," will we be allowed to blame Rattner? [ 'Even Steve Rattner couldn't save GM'--ed Sigh] c) Rattner shows up and, boom, suddenly GM has "a new car that some people actually want to buy"! It's amazing Rattner had time to design and produce the new Camaro so quickly with all his other financial and filmmaking activities. d) The 300-hp. Camaro gets 22 mpg overall --not bad, but it's deceptive for Blodget to use the higher "highway" estimate. e) The Camaro, with projected sales of around 100,000, isn't nearly a big enough deal in itself to save GM. And do you really think the Camaro's "halo" is going to get people to buy this ? ...
Blodget seems like a journalistic marshmallow. Whatever news outfit helped rehabilitate this once-tarnished figure has a lot to answer for. ... Oh, wait . Never mind. ...
Update: A better-informed take from Robert Farago , who's perhaps too committed to the Bail/FAIL! thesis. Still ... On holdover GM bureaucrats:
If anything, Chapter 11 means they’re even LESS motivated than before. Think of it this way: if GM’s overlords screw the pooch (again), what are the feds going to do? Declare bankruptcy?
On the Presidential task force (PTFOA):
"Hands-off" or not, the 25-member PTFOA adds another level of bureaucracy above the existing GM bureaucracy. If each PTFOA member fires off fifty emails a day, that’s 1,250 more internal comms per day . The PTFOA also has a staff. Meetings. Agendas. Targets. Reports. Memos. The federal quango is a shadow governing body for a company that needs less management, not more .
True story: New GM is inherently worse than old GM. And it’s going to get worse from here.
Plus: But by 2012, GM will be 82% of the way toward saving 29% on engineering costs ! Even Automotive News is laughing at them, apparently. ... 12:27 P.M.


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A former spokeswoman for the Taiwan Semiconductor Manufacturing Company (TSMC) has shared her opinion that a recent multi-billion dollar semiconductor funding bill that cleared the U.S. Congress earlier this week will prove to be insufficient when it comes to shaking up the semiconductor industry. The bill in question is the U.S. CHIPS Act, and it contains several provisions that promise government funding for chip companies that aim to either open manufacturing facilities in America or open centers for researching and developing new chipmaking technologies, particularly for nodes with feature sizes smaller than 3-nanometers.
The spokeswoman's comments came during a Twitter conversation held by Bloomberg Technology, in which she compared the size of the bill with TSMC's capital expenditure to make the argument that it barely scratches the surface for establishing large-scale facilities.
Chip Subsidies Are Better Served As Investments In Materials and Research and Development Believes
The interview took place earlier this week and it saw representatives from Bloomberg Technology interview Ms. Elizabeth Sun who worked at TSMC for 16 years from 2003 to 2019, alongside the company's founder Dr. Morris Chang.
The conversation started off with Ms. Sun clarifying that since she is no longer working at TSMC, her views are not representative of the company and are simply her own opinions. She also praised her former employer and stated that when she joined TSMC in 2003, there was nothing but praise for the firm in the industry.
Halfway through, she was asked which regions out the U.S., E.U., Japan and China have the best chance of developing a sturdy semiconductor industry. In response, Ms. Sun outlined that:
Well, this is a very complicated issue as we have already said, the semiconductor industry has been a global industry with a well established global supply chain. Now over sudden well. Say all of a sudden in the last few years, all these regions and countries are all talking about competition and building out its own complete supply chain domestically. Well. I don't really know if it is really worthwhile. So is that really needed? Is that really possible? And even if it is possible, how long will it take? So I think we should spend resources to help smooth out the kinks in the supply chain. Instead of, you know, throwing out billions and billions of money building out all these separate and fragmented manufacturing capacities all over the place, I think the industry should spend resources wisely in researching and developing new materials, design architectures and new semiconductor applications.
Later on, she noted that while it was understandable that the U.S. government wanted to further boost its local chip manufacturing
I don't fault the US government for trying to revive its semiconductor industry. I think it's an important industry and US so far is still a leader in this industry. But the money spent to build out capacity is really not that meaningful. Well $52 billion is really not a lot of money you just look at the CapEx [Capital Expenditure] TSMC spends in just a single year. So what does $52 billion do? Secondly, you know why don't you spend money in R&D? Spend the resources in R&S, in materials, in architecture, in innovative applications which will pay much bigger dividends.
But you say oh but because of geopolitical conflicts and so there are choking points in the SC. but SC is complex! As long as one element is missing this whole supply chain can be stuck, so it really doesn't matter if you are just missing one element or if you're missing a dozen or a hundred elements. All of you are stuck. So how can you be certain that at any given point in time everything you need is there domestically? That's not realistic. That's not realistic.
So instead, you should work out collaborative models. The politicians should try to avoid too much conflicts among the world.
When asked whether global peace is necessary for a healthy chip industry, Ms. Sun agreed and responded by saying:
That point has been demonstrated in the past several decades as long as the semiconductor industry has been in existence. It has always been the case. And now all of a sudden some self serving companies with separate agenda, cetain self serving politicians come up, you know, escalating the conflict? That's not wise!
She ended the conversation by stating that the chipmaking industry is a tough business to remain consistently profitable in and that the historic demand in the wake of the coronavirus pandemic had masked this fact on the firms' balance sheets. She also added that it is nearly impossible for newcomers to catch up with the established players in the industry since the sector is extremely technologically and capital intensive.
The post Former TSMC Spokeswoman Says $52 Billion CHIPS Act Won’t Help U.S. Chip Manufacturing by Ramish Zafar appeared first on Wccftech.


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SocialFolders, a freemium application that launched last month to let you store and manage any file created on the social web, rolled out an integration with Evernote on Tuesday that lets users drag-and-drop content such as Tweets, Facebook updates, Instagram photos into their Evernote accounts.
Want to catch all the action at this year’s Consumer Electronics Show, but didn’t make it out to Las Vegas? Don’t worry: Many of the keynotes and press conferences are streamed live online, and numerous outlets have set up their own show floor live feeds.
You know about Siri on your iPhone 4S, but does Siri know you? In order to take full advantage of all that Apple’s personal digital assistant has to offer, you first must properly introduce yourself. Here are a few tips about how to do exactly that.


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The NetSuite IPO has gone out tonight at a price of $26 per share, exactly double the lower limit quoted two weeks ago when the company first stated a price range for the offering. According to Reuters, this means the company has raised $160 million in its NYSE debut under the single-character ticker symbol 'N'. Based on the confirmed price, the market has valued NetSuite at $1.5 billion.
The achievement is a validation of the auction mechanism chosen by NetSuite for its offering. Few companies have chosen to go the auction route since Google pioneered this form of IPO in 2004. But a big risk is that the auction magnifies interest in the offering, leading to an embarrassing price decline after shares start trading. Of course Google, after an initial rocky start, went on to blast through all early predictions of its price potential. Perhaps NetSuite will do the same, although today's market is somewhat more jittery and with worse fundamentals than 2004's.
Now that the auction has closed, what matters most is that the company has banked the money, so whatever happens to the stock price, its cash reserves are strong. That positions it well to ride out any temporary setbacks as it seeks to sustain the alluring financials it posted in the weeks running up its pre-Christmas IPO.


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We are welcoming the sentencing of a man from Oxton for a series of thefts, burglary and fraud.
Terrence Griffiths, 53, of Cearns Road, Oxton, was sentenced to 52 weeks imprisonment at Wirral Magistrates Court on Tuesday 22nd November after pleading guilty to multiple offences.
Over the course of several weeks since 8th October, Griffiths targeted convenience stores in the Oxton and Claughton areas.
He would steal from retail shops and on other occasions steal victim’s bank cards in order to make purchases.
Detective Sergeant Nick Glascott-Tull said: “I am pleased that this individual will now spend time behind bars for his actions.
“Stealing from retail businesses and members of the public would have caused alarm and distress. I hope this sentencing brings some comfort for businesses in Oxton and Claughton who were plagued by his continued offending.
“We are determined to keep reducing offences and the harm this causes across Merseyside, and we will act on any information we receive.”
You can report any concerns to police on 999 if a crime is in progress, via 101, or via Twitter @MerPolCC.
You can also pass information via the independent charity Crimestoppers anonymously, on 0800 555 111 or via their online form at: https://crimestoppers-uk.org


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The global personal health record software market size is expected to reach USD 16.84 million by 2030 according to a new study by Polaris Market Research. The report “Personal Health Record Software Market Share, Size, Trends, Industry Analysis Report, By Component (Software & Mobile Apps, Services), By Deployment Mode (Web-based, Cloud-based), By Architectural Type (Payer Tethered, Provider Tethered, Standalone), By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Several significant factors attributing to the industry growth are the growing demand for the centralizing & streamlining of medical information coupled with the increasing initiatives to promote patient-centric care. In addition, the arrival of COVID-19 fuels the industry demand because of the rising need for digital tools for medical and the augmentation of digitalization across every industry. Besides, the availability of technologically developed products tied with the increasing government initiatives further fosters global industry growth.
Based on a component, the software & mobile apps segment holds the largest revenue share in the global industry due to the increasing number of technological developments across the medical sector. In contrast, the services segment is the fastest-growing segment worldwide. The growing digitalization in the healthcare industry is propelling its demand.
Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/personal-health-record-software-market/request-for-sample
The growing adoption of AI in the various technologies across the medical sector for estimating the human condition in examining complex medical data is one of the major driving factors for global industry growth. AI technology in healthcare can gain information and provide a precise output to the consumers as compared to traditional technologies.
These technologies are used in the medical sector, resulting in enhanced patient outcomes and increased volume & availability of health-related data from these devices. Thereby, increasing demand for AI along with the rising importance of digitalization in the medical sector are some factors anticipated to fuel industry growth over the forecast period.
Market participants such as CPSI, Duchang IT, 75Health (Kaaspro), Epic Systems, GoodWill, Health Companion, IBM, Kingdee, Healthspek, Knapsack Health, Neusoft, PA SUN, Patient Ally, NoMoreClipboard, PCCW Solution, Practice Fusion, Inc., PKU Healthcare IT CO., Ltd, Records For Living, Inc., Validic, Wining, SoftClinic Software, and Zapbuild and others are some of the key players operating in the global industry.
Numerous industry players are introducing various solutions for gaining significant prominence in the global industry. For instance, in September 2021, Healpha- a Hyderabad-based digital medical start-up, introduced its novel app for personal health management.
Polaris Market Research has segmented the personal health record software market report on the basis of component, deployment mode, architectural type, and region:
Personal Health Record Software, Component Outlook (Revenue - USD Million, 2018 - 2030)
Personal Health Record Software, Deployment Mode Outlook (Revenue - USD Million, 2018 - 2030)
Personal Health Record Software, Architecture Type Outlook (Revenue - USD Million, 2018 - 2030)
Personal Health Record Software, Regional Outlook (Revenue - USD Million, 2018 - 2030)


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Multinational restaurant aggregator Zomato has increased its primary fund raise by 20 percent to $1.2 billion and is eyeing a listing valuation of $8.7 billion. The offer size is likely to have increased to $1.25 billion from the initial $1.1 billion.
This has come after demands for the same have been raised by EM fund and global tech specialist funds.
Quoting sources, CNBC TV18 reported that the company is currently planning to launch the IPO by mid-July.
The offer for sale (OFS) has been reduced by 50 percent to $50 million. According to the publication, the owner of an 18.5 percent stake in Zomato, Info Edge is going to present the OFS.
Previously, Info Edge had declared in the upcoming IPO, shares worth Rs 750 crore would be sold by the company.
Other shareholders of the company are Uber BV holding which has 9.13 percent. Alipay Singapore Holding Pte Ltd holds 8.33 percent while Antfin Singapore Holding Pte. Ltd has around an 8.22 percent stake in the company.
The Livemint reported that a pre-IPO placement will be undertaken by the company in consultation with the managers. At a final price, which the company is going to decide, the aggregate amount is not going to exceed Rs 1,500 crore.
Reportedly, Zomato has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), the Indian market regulators. The company stated that it is going to offer equity shares worth Rs 8,250 crore in the IPO. Of this, fresh shares would be worth Rs 7,500 crore while Rs 750 crores worth of shares would be sold through OFS.


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An overwhelming 86% of Americans report that they’ll share a gift of chocolate and candy this Valentine’s Day according to the National Confectioners Association recent study.1 For some, a special occasion is not required to enjoy chocolate, but during the week of Valentine’s Day, chocolate sales do escalate. It’s estimated Americans purchase 58 million pounds of chocolate in the seven days leading up to Valentine’s so now’s the time to start shopping.2
We may equate the “origin of chocolate” with our favorite local chocolatier, those “across the pond” or a major candy brand, but the truth is our chocolate has traveled many miles before we take that first bite. Chocolate is truly a global experience without having to leave our home towns. And especially this year, that is a sweet treat.
A multitude of hands working hard work across the globe makes it possible for us to enjoy that first bite. The basic ingredients of any dark chocolate start with the cocoa bean as the chocolate liquor (liquid), cocoa butter and cocoa powder are derived from the bean. Even though cocoa was native to the Americas and a valuable crop in the earliest South American cultures, today the majority of cocoa is produced in tropical areas around the Equator. In fact, about 70% of the world’s cocoa beans (about 2.6 million tons of cocoa produced annually) come from four West African countries: Ivory Coast, Ghana, Nigeria and Cameroon, with the majority being produced by small farmers living in poverty. According to the World Cocoa Foundation, a typical cocoa farmer in West Africa works on a plot of no more than 3.5 hectares (or 8.7 acres) and uses income gained from cocoa to support between six and eight family members. It is estimated that more than two-thirds of cocoa farmers live below the poverty line in some African cocoa growing countries.3
The increased worldwide chocolate consumption has improved the farm gate prices but also highlighted cocoa sustainability issues. In recent years, the effects of warmer temperatures and drier weather conditions have compounded the problems associated with the traditional method of planting cocoa randomly under thinned forest shade. Relying solely on the soil’s natural fertility and existing forest shade without good management practices limits productivity, the ability to control pests and nourish the soil. This has led to increased deforestation for the sake of survival. However, the World Cocoa Foundation, a public private initiative with membership of 80% of the global cocoa and chocolate markets on six continents, has been focused on addressing the need for a sustainable and thriving cocoa sector since the early 2000s. Their vision is meet the economic needs of the farmers while addressing labor and environmental challenges.3
So, the next time, you pick up a piece of chocolate to eat, think about the intertwined global network that created that moment of bliss. It’s not only cocoa farmers of West Africa that we need to thank, but also farmers in the United States, Canada, Mexico, and parts of Asia that grow the sugar beets or sugar cane that give chocolate its sweetness and vanilla bean growers in Mexico, Indonesia, Madagascar or Tonga that provide added flavor.
Chocolate, like so many food products we enjoy, takes many hands to produce. Enjoy your chocolate (in small amounts, of course) and know there’s a world of farmers that appreciate you. Send your love to all that grow our food!
1. “Chocolate and Candy to Play Central Role in Valentine’s Day 2021,” National Confectioners Association, February 1, 2021.
2. “How Many Pounds of Chocolate Do Americans Buy for Valentine’s Day?” by Carolyn Menyes, The Daily Meal, February 5, 2020.
3. “Prosperous Farmers: The World Cocoa Foundation and our members work to improve the livelihoods of cocoa farmers around the world,” World Cocoa Foundation.


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NEW YORK (TheStreet) -- Fusion-IO (FIO) hasn't had a great 2013. The technology company has said goodbye to its CFO and sales chief, seen numerous ratings cuts from investment firms, and reported several quarters of disappointing guidance. Since January, the stock has tumbled 58.6%.
To add to its woes, on Tuesday UBS downgraded Fusion-IO to "neutral" from "buy," and slashed its price target to $11 from $15 in the process.
"Following the management change, we had thought the stock price decline discounted Fusion's challenges, but that proved incorrect," said analyst Steven Milunovich in the report. "We worry the window for Fusion to succeed is closing."
UBS said Fusion's foothold in PCI card production is slipping as new rivals emerge and that redeveloping any product will take another six to nine months to pay off.
"PCI cards have a place, but larger vendors such as EMC (EMC) and Western Digital (WD) - Get Walker & Dunlop, Inc. Report ... can drive margins down, perhaps below the low-50s gross margin that Fusion currently is projecting," wrote Milunovich.
Erasing some of the uncertainty surrounding Fusion's future, the Salt Lake City-based business has hired Ian Whiting as its sales chief. Whiting will leave a similar role at networking equipment maker Riverbed (RVBD) for the position. The company is still searching for a replacement CFO.
By mid-afternoon, Fusion shares had tumbled 5.3% to $9.48.
TheStreet Ratings team rates Fusion-IO Inc as a Sell with a ratings score of D. The team has this to say about their recommendation:
"We rate Fusion-IO Inc (FIO) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Computers & Peripherals industry. The net income has significantly decreased by 809.3% when compared to the same quarter one year ago, falling from $3.93 million to -$27.9 million.
- Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Computers & Peripherals industry and the overall market, Fusion-IO Inc's return on equity significantly trails that of both the industry average and the S&P 500.
- Net operating cash flow has significantly decreased to -$17.15 million or 159.81% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
- Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 59.12%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 800% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
- Fusion-IO Inc has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, Fusion-IO Inc reported poor results of -39 cents a share vs. -8 cents a share in the prior year. This year, the market expects an improvement in earnings (-30 cents vs. -39 cents).
- You can view the full analysis from the report here: FIO Ratings Report
in America... and the
10 most sober


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Profits and sales rise at Intertape Polymer
SARASOTA COUNTY — Intertape Polymer Group Inc. on Monday posted higher profits and acquisition-driven revenue for the second quarter.
Intertape, the Canadian packaging company with executive headquarters in Sarasota County and Montreal, Quebec, reported net income of $15.1 million, or 26 cents per diluted share, for the period ended June 30. That was up from $10.1 million, or 17 cents per share, one year earlier.
Revenue rose 18.5 percent over the year to $249.07 million, which was boosted by acquisitions of Canadian Technical Tape Ltd. in 2017 and Airtrax Polymers Private Ltd. in May.
“It was a strong quarter from a top-line and bottom-line perspective," Intertape president/CEO Greg Yull said. "The investments we are making in our existing operations as well as through (mergers and acquisitions) are driving positive results, as demonstrated by year-over-year growth in revenue of approximately 19 percent for the second quarter. This growth represents organic growth of more than 10 percent, driven by a combination of price, product mix and volume. Sales volume, excluding our low-priced carton-sealing tape from Powerband, grew by a solid 7 percent.
Shares of Intertape rose on the report, up $1.15, or 6.6 percent, to $18.64 this afternoon on the Toronto Stock Exchange. Starting the day, shares had dropped 20 percent since the beginning of the year.
On Friday, the company declared a quarterly cash dividend of 14 cents per share, payable Sept. 28 to shareholders of record on Sept. 14.
This month, Intertape completed the $146 million acquisition of Polyair Inter Pack Inc., whose products include bubble cushioning, foam, mailers and air-pillow systems. Polyair, with dual headquarters in Toronto and Chicago, employs 600 at seven manufacturing facilities across North America.
"We believe Polyair's protective packaging offering complements our existing product bundle and provides opportunities to both leverage our existing customer base with a protective packaging solution and cross-sell to their distributors and end-user customers," Yull said.
Intertape remains on track to meet its financial targets for the year, he added.
The company said it will close by the end of the year a Cantech factory in Johnson City, Tennessee. Production of the carton sealing tape made there will be transferred to other plants.
Intertape employs 3,400 at 27 locations in North America, Asia and Europe.


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Honor's foldable mobile phone, which looks like the Huawei Mate X2, is reportedly launching before 2021 comes to an end, after the company moved its supposed 2020 release.
Honor and Huawei
In case you missed it, Honor, which used to be a sub-brand of Huawei, already parted ways with its parent company last Nov. 17 for a whopping price of $40 million.
With that, Honor was able to avoid the wrath of the ban of the United States against the Chinese tech giant, Huawei.
As such, the ex-subbrand of Huawei now holds access to the Google Play Services, which gives the phone maker the ability to provide its users with apps like Gmail, YouTube, and the Google Play Store.
However, it turns out that the break up with Huawei will go beyond regaining advantages when it comes to Google Play Services access.
Honor's Foldable Phone Launch
This time around, it seems that Honor is ready to go after Huawei to compete with one of its devices, the Huawei Mate X2.
As per Android Central, Honor's take on the foldable phone seems to borrow its design for the Huawei counterpart.
The news outlet further revealed, citing a post from the Chinese social media platform Weibo, that the Honor foldable phone is nearly its launch, noting that it should be out before the 2021 ends.
It is worth noting that the rumored foldable device of the ex-Huawei subbrand was the first speculation to come out in 2020.
However, the Honor Magic Fold some reports are saying that the supposed debut of the phone was moved to a later date due to the effects of the COVID-19 pandemic.
So, if not because of the wrath of the novel coronavirus, which affected the whole world, the Honor Foldable should have been out by now.
What's more, when the foldable device was first hinted at, it was reportedly expected to carry the name Honor Magic Fold, which sounds similar to the Samsung Galaxy Z Fold.
However, the latest Weibo post further disclosed Honor decided to use another moniker for its first foldable, Magic X, which is closer to the name of the counterpart of Huawei.
The Weibo tipster also said that the Honor Magic X is heavily inspired by the design of the Huawei Mate X2, making them look-alikes.
Nevertheless, the leaker claimed that the Magic X is a different device beyond its familiar design.
Nevertheless, Honor has yet to confirm the launch of its rumored Magic X. So, take the leak with a grain of salt.
Honor Rollable Phone
On top of that, Honor recently filed a patent for its version of the Rollable smartphone, according to GizmoChina.
Yet again, the Honor Rollable device looks similar to the Huawei Mate X phone, except for the notable difference, which is the rollable screen that comes out of the device, giving it a tablet-like display. It is around 11-inch based on the initial patent filing.
This article is owned by Tech Times
Written by Teejay Boris


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The survey, by Mercer Human Resource Consulting, showed that Stockholm was now the 36th most expensive city in the world for expatriates to live in. Last year’s survey put the Swedish capital in 18th place.
Much of the change was due to the strengthening of the dollar, which made European cities cheaper for American expats.
Stockholm’s Scandinavian neighbours proved to be much more expensive, and had not moved significantly since last year’s survey. Copenhagen was eighth in the table, Oslo tenth, and Helsinki 25th.
The study looked at 144 cities on six continents and measured the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.
“The survey shows that it is cheaper for expatriates, particularly from US-based companies, to come to Sweden,” said Anna Krotova, spokeswoman for Mercer.
The most expensive city in the world was Moscow, with London the most expensive city in the European Union.
The survey looked among other things at the typical cost of an expatriate’s basket of groceries.
“There can be a big difference in some countries between the cost of an expatriate’s grocery basket and that of most other people living in the same country,” explained Anna Krotova at Mercer.
“This is particularly true in places such as Moscow, which was found to be the most expensive place to live,” she added.
Stockholm also did well in the report in terms of quality of life, coming 20th.
The Mercer report is used by major companies set pay and conditions for staff working abroad.
Photo: Louise Bilgert/ imagebank.sweden.se


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No More Free Passes: CDOT To Enforce 'Traction Law' On I-70 For All Vehicles
GOLDEN, Colo. (CBS4) - Laws requiring chains and snow tires don't just apply to commercial vehicles and tractor-trailers, but in past winters the Colorado Department of Transportation had not really enforced those rules for passenger vehicles.
CDOT said at a news conference on Thursday that starting this winter they will begin enforcing the rules for passenger vehicles. That means drivers will need to pay attention for codes 15 and 16.
Code 15 is Colorado's traction law. To drive on the Interstate 70 corridor when weather is dicey enough for CDOT to issue a Code 15, vehicles will have to either have snow tires or a 4-wheel drive vehicle -- both with at least 1/8-inch tire tread.
If conditions worsen, CDOT can issue a Code 16, which means vehicles are required to have chains or an alternative traction device like an auto sock on tires.
"We spent last year educating the public about the need for good tires and they listened, with more than 70 percent saying they checked their tires before traveling in the I-70 corridor," Amy Ford with CDOT said in a statement. "Drivers should expect in general when they see a chain law required for truckers that the traction law will likely be required for passenger vehicles."
Those who break the laws and cause a crash, block traffic or just get caught could be fined more than $650.
"You wouldn't leave for a fun weekend skiing in the mountains with bad skis and boots and bindings," Maj. Matt Packard with the Colorado State Patrol said. "I've asked that you make sure your car is equally prepared to make that drive."
"Traffic crashes — not volume account for 60 percent of all traffic delays," Maj. Steve Garcia with the Colorado State Patrol said. "Law enforcement and insurance companies will not penalize motorists for moving their vehicle off the roadway after a crash. Moving your crash is the simplest and safest way to keep traffic flowing along one of the most traveled corridors in the state."
LINK: CDOT Information On Chain Laws
Additional Information From The Colorado Department of Transportation
Sign up for text alerts that will notify when CDOT issues a code 15 or 16 and the traction and chain laws kick into effect.
To encourage motorists to invest in the proper equipment, CDOT is again partnering with tire companies across the state to provide discounts on winter tires. CDOT and tire partners will lead tire checks at resorts and major events, letting Coloradans know if their tires meet the requirements of the Traction Law. To find the nearest tire partner, Coloradans can visit winter.codot.gov/tires.
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Huawei is still facing restriction from the US. The first 90-day has expired and another 90 days temporary trade license has been issued out to Huawei. Not only that, Huawei subsidiaries has also been restricted as well. Since this problem has started, Huawei CEO and Founder, Ren Zhengfei has been so vocal about the present situation.
Ren Zhengfei talked about the list of entities. He said that;
“The ban will not kill Huawei as the US hopes. As a matter of fact, Huawei not only did not die but will live better. In turn, the ban will have greater impact on our American friends because they have been supplying us billions of dollars. Suddenly, the US does not allow them to supply and the financial sector will greatly be affected in short term…”
“We can survive without relying on the United States. From 5G to the core network, we are strong.”
“The most important thing for us is the terminal list because Android is in billions of devices worldwide, if the United States continues its ban on us, there may be backup measures as well.”
The CEO and founder of Huawei, Ren Zhengfei believes that the ban will not be lifted from Huawei because there is no one in the United States who has the voice to speak for Huawei. He also added that Huawei is ready for the arrival of the ban.


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Expect Mobile Payment Options For U.S. Fast Food Industry To Continue To Grow
October 1, 2014
(Off The Menu)
– Mobile payment options in the U.S. fast food industry are a trend that’s not going away anytime soon. A quick recap of recent moves by major quick-service chains to add alternative payment systems:
• Subway announced that starting Oct. 1, the sandwich chain would begin offering mobile payment options at more than 26,000 of its U.S. locations.
• Chick-fil-A began offering mobile payment options to its customers in Cincinnati and Dayton, Ohio. The company is also testing alternative payments at 20 locations in North Carolina.
• McDonald’s is testing a mobile payment application in 22 locations in Alabama and Georgia.
• And Domino's Pizza has introduced an upgrade to its mobile app, letting customers place orders by speaking to a computer-generated voice named “Dom.” Mobile and online ordering accounts for 40% of Domino's U.S. sales.
According to a recent study by Cornell University, just 12% of U.S. restaurant operators currently utilize mobile payments. However, 50% are seriously thinking about installing the technology in the next year or two. So expect this trend to continue to grow.
Nevin Barich is the Food and Beverage Analyst for Industry Intelligence. Email him here or follow him on Twitter here.


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Decrypt’s Art, Fashion, and Entertainment Hub.
The NFT market is gaining steam again in 2023, as rising sales and trading volume data showed in January. Now there have been two more prominent signs of a rebound over the past 24 hours, as single Ethereum NFTs from the popular CryptoPunks and Bored Ape Yacht Club projects each sold for more than $1 million worth of ETH.
Both sales came from prominent collectors and creators in the NFT world, and they also mark the two largest single NFT sales tracked by CryptoSlam over the past 30 days.
CryptoPunk #5066 was sold on Monday for 857 ETH, or $1.4 million worth at the time. It was sold by Kevin Rose, the co-founder of NFT startup Proof (Moonbirds) as well as a venture capitalist, serial entrepreneur, and noted NFT collector. The buyer is unknown, although the NFT was transferred into another wallet labeled bitshamed.eth shortly after the purchase.
— CryptoPunks Bot (@cryptopunksbot) February 6, 2023
Rose recently fell victim to a phishing attack that saw him unwittingly transfer 40 NFTs collectively valued at more than $1 million—including Art Blocks and Autoglyphs pieces—to an attacker. He said afterwards that he’s selling some assets in an effort to rebalance his portfolio and acquire more Art Blocks Squiggles NFTs after losing 25 of them in the attack.
Meanwhile, Bored Ape Yacht Club #7090 sold for 800 ETH today, or $1.3 million. Ranked the 62nd rarest NFT in the 10,000-piece collection by Rarity Tools, the NFT was sold by Web3 creator and collector Jimmy “j1mmy” McNelis to an unidentified buyer. McNelis owns the NFTs behind Universal Music Group’s Bored Ape virtual band, Kingship, and also created the early Avastars project.
An NFT is a blockchain token that can serve as a proof of ownership for an item, including digital goods like artwork, PFPs, collectibles, and video game items. The NFT market yielded about $25 billion worth of organic trading volume in 2021 and again in 2022.
The sales point to continuing momentum for the NFT industry following a significant rise in activity dating back to late 2022. The market started last year with record-breaking trading volume, but sales and prices fell sharply over the summer and into the fall as crypto prices tanked and industry contagion took hold.
However, total month-over-month organic NFT trading volume ticked up slightly in December, per data from DappRadar, and then surged in January. Sales volume surged 38% to nearly $947 million in January, according to the analytics firm, while the total number NFTs sold during the month rose 42% to 9.5 million.
The Bored Ape Yacht Club and associated collections drove a lot of the market-wide bump in January, due to the launch of Yuga Labs’ Dookey Dash web game and Sewer Pass NFTs.
According to CryptoSlam, NFT sales on Ethereum alone over the past seven days topped $209 million worth of ETH—a nearly 15% increase over the previous week.


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Aware of the needs of Ukraine, which has been constantly under attack since the beginning of the conflict, Bored Ape Yacht Club decides to act. Indeed, touched by the efforts of its community, the collection decides to donate one million dollars in ether to Ukraine. The second largest NFT collection of the moment follows the example of its community and shows its empathy.
Bored Ape Yacht Club, one of the best NFT collections of the moment
NFTs, or non-fungible tokens, are works of art minted as unique tokens and exist on the Ethereum blockchain. In effect, each NFT represents ownership of an asset. Furthermore, of the many collections of NFTs that exist, Bored Ape Yacht Club is one of the first to achieve a minimum buy-it-now price of 50 ETH.
Since then, the BAYC collection has become a true cultural icon in the NFT sphere. By way of illustration, several celebrities like Steph Curry, Jimmy Fallon or even Eminem have embarked on this adventure.
Currently, Bored Ape Yacht Club is the second largest NFT collection of all time. This ranking was made by OpenSea which recorded more than 417,000 ETH in secondary sales, or almost a billion dollars.
It is then evident that BAYC is gaining notoriety in the NFT space through actions that leave nothing to be desired. With this potential, the collection decides to donate one million dollars in ether in support of Ukraine.
One donation among many others in cryptos
BAYC announced its donation to Ukraine after several other communities did. Indeed, a number of other Web 3 communities, namely DAOs, memecoin holders and several other NFT collections have participated in this humanitarian action. They had all recently announced their plans to help Ukraine through donations.
In addition, to date, Ukraine has already received almost $88 million in cryptocurrency donations. This data comes from Merkle Science and the government. The Ukrainian government notably received more than $7 million in its Ethereum wallet. These figures are those officially announced for the moment by Ukraine.
However, there may be donations that are not yet disclosed by the government. This can be explained by the fact that cryptocurrency transactions are decentralized and therefore under the control of no government entity. However, BAYC has matched the efforts of its community through this million dollar donation.
It's been inspiring seeing our community come together in support of Ukraine – almost $1m in ETH has been donated to @Ukraine by wallets containing a BAYC ecosystem NFT. Today we're matching that with a $1m ETH donation of our own. 🦍♥🇺🇦
— Bored Ape Yacht Club (@BoredApeYC) March 8, 2022
The Bored Ape Yacht Club Collection has made a commendable gesture towards Ukraine through a donation of one million dollars in ether. This donation matches the efforts of his community. Moreover, BAYC is one of the best NFT collections today. The donation of this collection is one of several actions in favor of Ukraine.


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Volvo C40 Recharge India Launch Confirmed For 2022 | V3Cars
Volvo recently confirmed that it will launch its first EV, the XC40 Recharge, in India in October 2021. In the same event, the carmaker also revealed that the recently unveiled C40 will be the second EV to go on sale in India and it will be launched in 2022.
Although the C40 is the first Volvo car to designed as a pure EV, it shares its underpinnings with the XC40 Recharge as it is based on the CMA platform. The C40 is essentially a coupe SUV coupe version of the XC40 Recharge. As a result, it looks similar to the donor SUV till the B-pillar post that it gets a sloping roofline. At the back, it gets a jutted out tail, a design trait synonymous with coupe SUVs. To set itself apart from the XC40 Recharge, the C40 also gets slightly updated headlamps that taper on the inside flanking the wider grille panel and a redesigned front bumper.
On the inside, the C40 looks identical to the XC40 Recharge. It gets the same portrait-oriented Googles Android-powered touchscreen unit sitting in the centre of the dashboard flanked by the vertical AC vents. Other features on the C40 are also expected to be similar to the XC40 Recharge including a 12.3-inch digital instrument cluster.
The C40 replicates the XC40 Recharge under the hood as well. It gets the same dual-motor setup mounted on each axle with a combined output of 408PS and 660Nm. Volvo claims it can go from 0-100kmph in 4.9 seconds and has a top speed of 180kmph. It draws electricity from a 78kWh battery pack (same as XC40 Recharge) and has a claimed range of 420km (WLTP-World harmonized Light-duty vehicles Test Procedure). It also supports fast charging and can be juiced up from 0 to 80 per cent in 40 minutes.
When launched in India, expect the C40 Recharge to be priced around Rs 70 lakh. Going forward, the carmaker plans to launch on EV in India every year. Volvo India plans to have 80 per cent of its total sales coming from EVs by 2025. This announcement is in line with the brand’s global goal of having an EV only lineup by 2030.


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The service means we can now offer all personal injury customers a personal, face-to-face visit by one of our agents in the customer’s own home. Like sign-up agent Nicola Bunston, pictured right, who covers the Surrey and South London areas.
The agents can go through paperwork with customers, with contact being made within 48 hours of the customer first getting in touch.
Customer satisfaction has increased dramatically since the introduction of the new service, with a more than doubling of the proportion of potential customers who agree to become actual customers, from 42% to 86% since July, when the agents began work.
Our list of records reached includes a 45% increase in referrals over the first nine months of the year, compared to last year, sales director Sid Hodgetts outlined.
The increase has been steady throughout the year with a higher number of referrals each month this year compared to last year.
Actual business is growing well also with a rise of 10% in the proportion of potential customers that have become actual customers.
The agreement means that Blake’s group of companies will become the sole provider of replacement vehicles for Qdos customers across the south coast region.
It is hoped that the service will be extended nationwide in the future.
The deal for the Qdos operated service was signed at the end of the summer and formalises an existing agreement providing a replacement car service, called Blake’s Assist.


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Political unrest slows global growth
The International Air Transport Association today announced scheduled international traffic for February 2011 showing increases of 2.3 percent for cargo demand compared to February 2010.
in the NewsKnight-Swift to add 400 trucks, drivers with Abilene tuck-in acquisition Panjiva says trade fundamentals are strong, despite concerns over tariffs NEXT Trucking and Mitsui O.S.K. Lines partner to service SMEs Solving the Labor Shortage Crisis: The Four Benefits of an Automated Warehouse CBRE research points to expected gains in cold-storage warehouse space More News
The International Air Transport Association (IATA) today announced scheduled international traffic for February 2011 showing increases of 2.3 percent for cargo demand compared to February 2010.
February demand growth was down significantly from the revised 8.7 percent expansion recorded in January for cargo traffic. The political unrest in the Middle East and North Africa during February is estimated to have cut international traffic by about 1 percent.
In addition to the political unrest in the Middle East and North Africa, the more dramatic fall in cargo growth (from 8.7 percent in January 2011 to 2.3 percent in February) was impacted in part by factory shutdowns due to the Chinese New Year period which fell in the first part of February in 2011.
“Another series of shocks is denting the industry’s recovery from the recession,” said Giovanni Bisignani, IATA’s Director General and CEO. “As the unrest in Egypt and Tunisia spreads across the Middle East and North Africa, demand growth across the region is taking a step back. The tragic earthquake and its aftermath in Japan will most certainly see a further dampening of demand from March. The industry fundamentals are good. But extraordinary circumstances have made the first quarter of 2011 very difficult.”
For related stories click here.
About the AuthorPatrick Burnson, Executive Editor Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
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Microsoft confirms Call of Duty will keep releasing on PS5 and PS4
Following Microsoft’s purchase of Activision Blizzard, PlayStation fans were concerned for the future of Call of Duty on the platform. Now, Microsoft confirmed their intentions to keep publishing CoD on PlayStation consoles.
On January 18, Microsoft shocked the gaming world with their purchase of Activision Blizzard for $70 billion.
With the acquisition of all Activision titles, PlayStation fans were worried that the popular first-person shooter, Call of Duty could become Xbox-exclusive with Microsoft at the helm.
However, PlayStation fans everywhere can rejoice as Microsoft announced that Call of Duty is staying on Sony’s console.
Call of Duty staying on PlayStation
Microsoft released a blog post on February 9 detailing their plans for CoD moving forward.
- Read More: Best Bren Warzone loadout
In the post the company said, “Microsoft will continue to make Call of Duty and other popular Activision Blizzard titles available on PlayStation through the term of any existing agreement with Activision.”
Microsoft also added more good news for PlayStation owners, “And we have committed to Sony that we will also make them available on PlayStation beyond the existing agreement and into the future so that Sony fans can continue to enjoy the games they love.”
Although there were tons of speculation about the future of the franchise on PS5 and PS4, it looks like CoD won’t be going anywhere. Back on January 20, head of Xbox Phil Spencer announced Xbox’s intentions to honor existing agreements with CoD and PlayStation.
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Had good calls this week with leaders at Sony. I confirmed our intent to honor all existing agreements upon acquisition of Activision Blizzard and our desire to keep Call of Duty on PlayStation. Sony is an important part of our industry, and we value our relationship.
— Phil Spencer (@XboxP3) January 20, 2022
Now, the company marked its plans to continue publishing the title on the rival console beyond that original agreement.
Microsoft also confirmed interest in supporting Nintendo, “We are also interested in taking similar steps to support Nintendo’s successful platform. We believe this is the right thing for the industry, for gamers and for our business.”
The next Call of Duty is rumored to be Modern Warfare 2 and is set to release between October and November of 2022. However, Activision mentioned that the Microsoft deal isn’t set to complete until 2023 so we might need to wait and see if there are any exclusives (like GamePass) or bonus rewards for Xbox players going forward.


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Marketing legend Guy Kawasaki has a new gig – as “chief evangelist” for Canva, a cool startup based in Sydney, Australia. Canva makes a web-based tool that lets mere mortals make professional-looking designs using a simple drag-and-drop interface.
“At the highest level, the appeal is that the company is democratizing something – in this case design,” Kawasaki says. “I’m into democratization. Apple democratized computers. Google democratized information. Self-publishing democratized writing. Design is one of last big, undemocratized sectors.”
Last fall we wrote about Canva on the HubSpot blog, citing it as an example of a new breed of content creation tools. Kawasaki says the goal is "amazingly simple graphic design." To see how Canva works, check out this online tutorial. After that, if you want to give Canva a try, Kawasaki has set up a special $10 credit for "Friends of Guy," which you can access here.
Kawasaki says he learned about Canva because his pal Peg Fitzpatrick, “who helps me with all things social media,” told him about the tool. He started using it, and got hooked. Canva’s founders saw that Kawasaki was using the product and reached out, asking him if he’d like to get involved with the company.
"We’re thrilled to have Guy join our team and are looking forward to working with him to grow Canva globally," says Canva CEO Melanie Perkins. "Guy brings a wealth of experience and is one of the world’s most accomplished marketers. Together with his social media architect, Peg Fitzpatrick, Guy will be helping us spread Canva throughout the world."
Perkins co-founded Canva in 2012 with Cliff Obrecht, who is chief operating officer, and Cameron Adams, a former Google engineer who is Canva’s chief product officer. The company has raised $3 million from angel investors in Silicon Valley and has 20 employees.
Canva went public with its product in August 2013, and in less than a year more than 330,000 people have used Canva to create 1 million designs. "We've had an overwhelming response from marketers, bloggers and small businesses who have been able to create their own beautiful designs and marketing materials with Canva," Perkins says.
Kawasaki says he’ll be visiting Australia, where Canva is based, but he has no plans to move there. His role seems to involve doing a little bit of everything – using social media to spread the word about Canva, demoing the product, “helping cut biz dev deals,” and giving speeches. “In other words, this is a startup. I’ll do what has to be done,” Kawasaki says.
Kawasaki is best known for his years as an evangelist at Apple, and for his numerous books, including Enchantment, Reality Check and Rules for Revolutionaries.
Most recently, Kawasaki was consulting for Motorola, helping with the launch of the Moto X smartphone. He says this might be his last gig. “I’m almost 60,” he says. “I figure I have one more big roll of the dice in my professional life, and Canva is it.”
Originally published Apr 16, 2014 8:00:00 AM, updated April 16 2014


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Fuel Cell Vehicle owners in Northern California are going through their second H2 Supply Shortage this year due to an explosion at a nearby Air Products Santa Clara production facility.
For the second time this year, Fuel Cell Vehicle owners in Northern California literally have nowhere to refuel. As per a True Zero representative, GasWorld.com as well as thousands of Santa Clara residents, an explosion at a Santa Clara industrial gas plant owned and maintained by Air Products happened during refilling of one of its hydrogen distribution trailers.
Multiple vehicles were damaged by the explosion and Air Products has temporarily suspended deliveries from its CT-450 and CT-500 fleets while the incident is being investigated.
The industrial gases major admits the incident will impact its hydrogen delivery capabilities in Northern and Southern California “for a currently unknown period of time”.
Air Products said in a statement, ”There was significant damage to the distribution trailer directly involved in the incident, as well as to multiple other distribution trailers at the site.
Witnesses several miles from the Air Products explosion felt the boom, shockwave, and force of the explosion.
According to one business owner interviewed by ABC 7 News,
“You heard the boom and then you felt like a wave, a pressure… a force. It just hit you all around you and moving you slanting you back,”
Witnesses describe seeing flames shooting up over 50 feet in the air.
It took firefighters well over an hour to contain the situation and get everything under control.
Here are two videos from the scene which show just how extensive the damage was.
30 minutes ago Firefighters make access to tanker valve and shut down while master streams flow to cool the tanks and trucks previously impinged with Fire. pic.twitter.com/3Vb3V3RMG4
— Santa Clara CA Fire (@SantaClaraFD) June 2, 2019
— Luz Peña (@LuzPenaABC7) June 2, 2019
With Air Products the major supplier for most of Northern California, this has effectively halved the available Hydrogen in all of California leaving Northern California bone dry for the immediate future.
— Paulo nonVTEC Acoba (@ferio_252) June 4, 2019
In a statment from True Zero’s CEO shared with Honda Clarity owners over the unofficial Facebook Group for Honda FCV’s, he reassured Honda Clarity owners (and all Northern California FCV owners) that other production facilities not related to Air Products were banding together to come up with a stop-gap to get Hydrogen to empty N. Calif stations.
H2 shortage incoming for Northern California. Will affect all the Mirais, Clarities and that one Hyundai Nexo roaming around. pic.twitter.com/8CqWrClPkW
— Paulo nonVTEC Acoba (@ferio_252) June 3, 2019
As mentioned, the last Hydrogen shortage was earlier this year in January. During that shortage, details were few and far between from Air Products. However, with such a violent explosion where local FD had to step in, Air Products could not keep so quiet.
Both Honda and Toyota have contingency programs that allow their FCV leesses or owners to rent cars from local rental agencies. Presumably, Hyundai and its handful of Hyundai Nexo owners have something similar.
It’s unacceptable for the local Hydrogen Infrastructure to be as unreliable as it is at the moment. If hydrogen cars are supposed to be a viable replacement for ICE powered cars, reliable refueling, at the very least, has to be guaranteed.


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Jake Mandeville-Anthony, a U.K. based screenwriter, has filed suit against Disney and Pixar for alleged copyright infringement and breach of implied contract. Mandeville-Anthony claims that “Cars” and “Cars 2” are based on characters and a story he shopped around to several production companies in 1993.
The lawsuit was filed on March 14 in U.S. federal court, wherein Mandeville-Anthony states that he had “sent copies of his works to various production companies, including Disney” and also alleges that he met with Jim Morris in person to give him copies of his project. At the time, Morris was an executive at Lucasfilm, but later joined Pixar in 2005 and was named their General Manager and Executive Vice President of Production three years later.
Mandeville-Anthony alleges in his complaint that there are overwhelming similarities between the Cars movie franchise and his work, and is seeking an injunction to stop the release of “Cars 2” on June 24.
Additional information also reports that Mandeville-Anthony had recently sued Disney and Pixar in the U.K. as well, though the judgment for that case is sealed.
Unfortunately, this isn’t the only time Disney/Pixar has been sued for alleged copyright infringement. Social worker Lori Madrid had attempted to sue Pixar over “Monsters, Inc.” and also sought an injunction against the film’s release. The judge presiding over the case refused to issue an injunction and eventually dismissed the entire lawsuit. Pixar also settled out of court with another artist less than a year after Madrid’s attempt in order to avoid the mess of another trial.
It will be interesting to see how this case plays out, but it’s unfortunate timing, as “Cars 2” is set for release shortly. Director of the Cars franchise, John Lasseter, has loved cars since childhood and stated that an extensive road trip in 2000 inspired the story.


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Zero Emissions Developments is seeking $30 million to build a manufacturing plant for its PowerCap batteries.
PowerCap batteries use recycled materials – mostly from tyres and plastics – to produce graphitic carbon for their anodes.
Further, the batteries are 100 percent recyclable at the end of their lives. This puts them at a green advantage to lithium-ion batteries, which use mined components for manufacturing and cannot be recycled.
Zero Emissions Developments (ZED), an Australian company that developed the technology, is now seeking $30 million in private investment to manufacture its batteries in Queensland.
ZED will use waste gathered from its own recycling plant in Bowen, Queensland.
A company press release explains the technology:
By using a recyclable graphitic carbon, the battery behaves like a non-faradaic supercapacitor, which lasts twice as long. PowerCap batteries are a hybrid of faradaic and non-faradaic (electro-chemical and electro-static) interactions, known as pseudocapacitors. The electro-chemical architecture is provided by metal-oxides and the electro-static is provided by a unique doped graphitic carbon chemical architecture. This asymmetrical architecture allows a greater and more responsive cycling life (circa 20,000 cycles before it goes below 80 percent of the original capacity), with improved charging and discharging properties.
The PowerCap Metal-Oxide-Graphitic Pseudocapacitor Battery is a sustainable energy storage system which lasts two to three times longer than standard lithium-ion batteries. Not only is it safer, cleaner and more affordable than traditional batteries, it also assures the equivalent energy density found in Lithium-Ion batteries and provides up to ten times more power density – this means the energy is delivered almost instantly, important when powering mobile devices like electric cars.
“We know this technology is going to help advance our ability to rely on solar energy and manufacture electric vehicles,” says Ahmed El Safty, PowerCap Un Ltd principal engineer and CEO.
“By building the batteries here in Australia, we’re able to control the quality of the batteries we produce and create jobs for Australians at the same time. We welcome those wanting to invest in technologically advanced renewables to make contact,” El Safty says.


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WASHINGTON — The U.S. is set to approve, with Israeli consent, the formation of three special export zones in Egypt that will allow duty-free access to the U.S. for apparel and textiles made there.
U.S. Trade Representative Robert Zoellick will participate in the signing ceremony today in Cairo with Egyptian Minister of Foreign Trade & Industry Rachid Mohamed Rachid and Israeli Vice Prime Minister Ehud Olmert.
“This is the most important economic agreement between Egypt and Israel in two decades,” Zoellick said Monday in a statement.
The Egyptian Qualified Industrial Zone program is a by-product of the U.S.-Israeli Free Trade Agreement. Under the QIZ program, at least 35 percent of the value of the goods and direct costs of manufacturing them must be of Egyptian, Israeli or U.S. origin. The agreement between Egypt and Israel stipulates that at least 11.7 percent of the value of the covered products must be Israeli.
Egypt and Israel have the ability to negotiate the terms of a QIZ agreement, while the USTR has the responsibility and the authority to designate areas to be QIZs. The U.S. has approved the request of Egypt and Israel to designate the three QIZs in the greater Cairo area, Alexandria and the Suez Canal Zone.
Apparel and textile imports from Egypt totaled $529.7 million for the year ended Sept. 30, according to U.S. Department of Commerce figures.
The purpose of the QIZ initiative is to support the peace process in the Middle East by promoting economic cooperation between Israel, Egypt, Jordan and the Palestinian territories. Since 1999, the U.S. has designated 13 QIZs in Jordan. Apparel and textile imports from Jordan grew to $828.9 million for the year ended Sept. 30 from $385.6 million in 2002, according to the Office of the USTR.
“These QIZs will help ensure that U.S. apparel and footwear companies in Egypt remain competitive, particularly after quotas are removed on textiles and apparel beginning Jan. 1,” said Kevin Burke, president and chief executive officer at the American Apparel & Footwear Association.
Burke also noted that Egypt has announced it will eliminate or reform several testing, registration and labeling requirements that act as foreign trade barriers.Cass Johnson, president of the National Council of Textile Organizations, said the textile industry has concerns about the 35 percent value-added rule of origin in QIZ arrangements. Johnson said value-added rules are complex and Customs officials have a difficult time enforcing them. He pointed to a recent Customs review of factories in Jordan and Israel, which turned up a 25 percent “fraud rate.”
“You have to break down 60 different things to make a shirt, assign a value and add them up,” said Johnson. “It’s a horrible, statistical mess.” In addition, transshipping becomes a problem in any FTA.
“Typically, when these things are opened, we see a big surge in exports of apparel to Israel or Jordan from China, then a big surge from those countries to the U.S.” said Johnson. “The U.S. government needs to find a way to enforce these agreements that can easily become a conduit for Chinese goods entering the U.S. duty free.”
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews


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Wise move from the specialist auctioneer who sold John Lennon’s Wisdom tooth
Omega auctions, the specialist auctioneer has set up a new base at Langtree’s Penketh Business Park, Warrington.
The move will create six full time and ten part time jobs in the town upon its opening in January 2015
The new premises will become the company’s main auction room replacing its current facility in Stockport.
Omega Auctions specialises in the sale of music memorabilia, fine wine, watches and other collectables such as vintage toys, postage stamps and military medals.
The auction company holds bi-monthly auctions for collectables and quarterly auctions for music memorabilia and have sold some of the most unusual and unique items ever to come under the hammer at auction.
The company stores its most valuable lots at a secret off-site location.
Earlier this year, the company sold one of John Lennon’s extracted wisdom teeth to a Canadian dentist for £23,000.
The dentist is now working with US doctors in a bid to extract DNA from it and clone the former Beatle.
Other items which recently went to auction included Elvis’ personal annotated bible for £59,000 and capes worn by George Harrison and Ringo Starr in the 1965 film Help! which sold for over £50,000 each.
Karen Fairweather, director at Omega Auctions said:
“The new auction house will allow us to take our company to the next stage and deliver better auctions in better surroundings.”
“Our sales are of national and international significance so we needed a location that was easy to access, plenty of space and was of great quality.”
“We have found both of these things and more in Warrington and are very much looking forward to bringing our sales to the town.”


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MMW learned Monday that Samsung Pay — a leading mobile payment system — will soon support eligible credit and debit cards from TD Bank and Regions Bank.
Of course, that’s in addition to 60 Visa and MasterCard banks and credit unions launched since early March 2016.
With the addition of these banks, Samsung Pay continues to grow momentum in the United States—supporting eligible credit and debit cards from more than 130 banks and credit unions, representing over 75% of the US credit and debit card market.
Samsung Pay supports all major payment networks and many of the country’s major banks, and it continues to expand its partnership ecosystem.
For the full list of financial partners that support Samsung Pay, click here.


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It may seem like a paradox at first, but in each wave of the coronavirus, the average Swiss household got richer. First of all, income loss was relatively low even though the economy was sluggish. Second, spending opportunities were limited thanks to COVID‑19 restrictions. As a result, during the first lockdown the savings rate was nearly twice that of pre-pandemic times. In 2020, the average household saved about CHF 3,000 more.
Even in the months of the second lockdown, the Swiss population set aside an average of CHF 880 per household. However, because spending opportunities were not as limited in the second wave, the surplus savings are just one-third of what they were last spring.
The effects of the coronavirus crisis vary greatly by industry. When will they finally recover from the consequences of the lockdowns? What is the long-term outlook for consumption in Switzerland? Monitor Switzerland from Credit Suisse provides forecasts and expert opinions.
As the catch-up effect is more modest and the loss was less severe, it is assumed that recovery for 2021 will not be as dynamic as last year. Furthermore, after the second lockdown, it is unlikely that all of the additional savings will be spent, if only because the savings rate is responding to more significant economic changes and particularly to shifts in the labor market. When households are worried about losing their employment income, they consume less.
We estimate that nearly 30% of the savings from both lockdowns will be kept for a rainy day over the medium to long term. Furthermore, not all industries will benefit equally from the expected catch-up in spending.
The non-food industry in particular made up nicely for lost consumer spending in the months following the first lockdown. By direct comparison, the store closings in this segment were somewhat shorter and the measures were less restrictive. In the 2021 lockdown, non-food retail did suffer a drop in consumer spending of nearly CHF 230 million, but as consumers are eager to open their wallets again, the industry should catch up within three months.
To some degree, the entertainment and sports industry is seeing some consumer catch-up. However, it has not been as dramatic compared with non-food retail. After all, the potential to compensate for canceled sports activities and canceled trips to the movies, plays, and concerts is as limited as our calendars. Nothing much will change about that after the lockdown is over. The industry would need about 8 weeks of business as usual to make up for the losses in consumer spending seen in one lockdown-week.
Meanwhile, in the hospitality industry, revenues remain on the decline even after the 2020 lockdown. The potential for any catch-up effects is considered low in this segment. While restaurants and bars could be at capacity after the lockdown ends, it is unlikely that guest numbers will rise for the long term. Assuming that the catch-up in consumption is not significant, once establishments reopen it will take some 14 to weeks of regular operations to make up for just one week of lost consumer spending during the lockdown this year.
Hotels have the lowest chance of bouncing back to regular operations at present. At present, domestic tourists are an essential factor. However, if at least European travel is permitted this summer, hotels can expect that more Swiss tourists will prefer to spend their summer vacations in a foreign country. This would lessen the positive impact of domestic tourists in 2021. It seems that a return to regular operations will not be possible until international travel gets back to pre-crisis levels.
While many service providers suffered during the COVID-19 crisis, Swiss food retail enjoyed greater popularity. Competition from restaurants and bars was eliminated, and shopping tourism was impaired for weeks. Revenue growth in food retail reached record highs. Between the start of the pandemic and the end of 2020, average revenue growth was more than 12%. Reopening measures for restaurants and bars as well as cross-border travel will likely mean that revenues in food retail will get close to pre-crisis levels, bringing the current boom to an end.
The greatest long-term effects will be seen where restrictions were particularly severe and long lasting, such as the hotel sector, and where consumption cannot simply catch up (such as restaurants, bars, and leisure). While it would take about two weeks for non-food retail to make up for temporary losses in consumer spending from one week of lockdown in 2021, entertainment and sports are likely to need about eight weeks on average. As there are many substitutions for restaurant and bar visits, this sector has lower potential to make up for the drop in consumption. In regular operations, the lost consumption from one week of lockdown in 2021 should be made up for in some 14 weeks.


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China: The New Normal
“All is flux, nothing stays still.” –Heraclitus (540–480 BC). China in 2017 only vaguely resembles the China I described in a 2006 overview for Pittsburgh Quarterly. Few countries have ever changed so much in such a short period. Sit back, because it is time to rethink what you need to know about today’s China.
A decade ago, while a powerful and expanding economy, China was like an awkward teenager unsure of its place in the world. That changed almost overnight when Beijing hosted the 2008 Olympics. At a cost of nearly $50 billion, the Olympics was more than a glitzy global sporting event—it was China’s coming-out party. On the world stage, China trumpeted its arrival as a first-world economic competitor and has not looked back. Seizing upon its premier status as a manufacturing powerhouse, building up its military capabilities, and taking firm charge of its burgeoning economy, China as the world’s second-largest economy hopes to surpass the United States’ No. 1 spot within five years.
Beginning in the 1980s, China’s economy grew at an unprecedented 10–12 percent annual clip. Following the 2008–09 recession, its growth slowed, yet still outpaced every other world economy. This year, China’s economy should grow between 5.5 and 7 percent— the “ne w normal” for China. One factor is Chinese labor costs are much higher than in 2006. Cheap labor has moved on to Cambodia, Laos, and Bangladesh. Higher-val ue consumer goods “Made in China” are no longer s olely destined for export markets. Instead, China’s swiftly growing middle class of more than 350 million is the new target market for air conditioners, automobiles, refrigerators, and vacation packages. So, if you are expecting China’s economy to return to its former 10–12 percent growth per annum, forget it. If you think China is still the go-to source for cheaply created consumer goods, forget it. In the new normal, Chinese manufacturers will be increasingly targeting Western consumers with China’s own brands of highquality goods. U.S. manufacturers and technology companies need to pay attention. Even at lower growth rates and with few Asian competitors (other than perhaps India), China should remain the world’s fastest-growing economy over the next decade.
Xi Jinping & Donald Trump
Roughly every 10 years, China revises its top leadership so one person or a small closely aligned cadre takes the country’s political reins. Because the Chinese Communist Party dominates China’s political system, look within its ranks to identify future leaders. What few Westerners recognize is that Xi Jinping, president of the People’s Republic of China since 2012, has emerged as the single most powerful political figure in China since 1949—more powerful even than Mao Tse Tung. In a breathtakingly short period, Xi has managed to consolidate power in three key sectors: the Chinese Communist Party, the military, and the economy. One could reasonably argue that Xi is the most powerful political leader in the world today (even the president of the United States is counterbalanced by the U.S. Congress and the Judiciary). Watch carefully what Xi does, with whom he meets, and what targets he sets. Xi is a strong leader with ambitions to move China forward with a purpose.
“In the new normal, Chinese manufacturers will be increasingly targeting Western consumers with China’s own brands of high-quality goods.”
To the surprise of many Americans (and much of the world), Donald Trump now resides at 1600 Pennsylvania Avenue as the 45th U.S. president. Much was said by both sides during the heated presidential campaign about the relationship between China and the U.S., including currency manipulation, outsourced manufacturing, and the dumping of China-made goods into the U.S. Will the Trump Presidency upset the current relationship between the two countries? I think not, and the reason is simple economics. The Chinese and U.S. economies are so intertwined that a trade war would be madness, plunging the global economy—including China and the U.S.— into a depression. No one wants that, particularly a newly elected President Trump. While undoubtedly there will be hot words exchanged and occasional flare-ups between Xi and Trump, expect the relationship between the two Superpowers to continue along the same course for the next four years.
The Chinese are coming
Fifty years ago, Norman Jewison directed stars Alan Arkin, Carl Reiner, and Eva Marie Saint in a 1966 parody film called “The Russians are Coming, The Russians are Coming!” To the surprise of many critics, this spoof of a Russian invasion of the U.S. won a Golden Globe and an Academy Award nomination.
Well, it is now 2017, and this time the Chinese really are coming. China now controls more than $3 trillion in foreign currency reserves. For three decades, foreign direct investment flowed from the U.S., Europe, Japan, and Korea into China. Now that trend has reversed. Chinese companies, government entities, and wealthy individuals are using the amassed dollars, yen, euros, and pounds to globally invest in companies, real estate, and technologies, with the U.S. as its largest target. I expect Chinese investors to direct more than $1 trillion into the U.S. over the next eight years. Should these Chinese investors be viewed as a threat to America or our region? Not at all. Instead, it offers some truly unique opportunities.
Chinese foreign direct investment has grown an average of 40 percent per year since 2005, up to $121 billion globally in 2015, according to David Iwinski, president of global business consulting firm Blue Water Growth. In 2014, Chinese companies invested $3.5 billion in the U.S., and in 2015 that figure rose to $7 billion, Iwinski says, adding that $5.9 billion of that is acquisitions with the remainder being greenfield projects and expansions. This capital flow creates significant opportunities for U.S. firms seeking growth capital and those looking for buyers.
If you want to know what kinds of U.S. companies the Chinese are most likely to invest in over the next decade, look back 30 years to what the Japanese did. In the mid-1980s, as the Japanese reached the point where they had developed sophisticated domestic industries, those companies had to grow internationally in order to become true global competitors. Between 1986 and 1992, Japan went through its “Bubble Period,” during which it seemed that Japan was going to take over the world. Self-styled experts such as Professor Ezra Vogel at Harvard declared that “Japan is Number 1!” as Japan embarked on a $1 trillion buying spree. For example, Japanese car makers first invested in U.S. distributors, then later began to design cars with American engineers focusing on American tastes, and eventually built manufacturing plants in the U.S. Other Japanese companies such as Sony became globally active by focusing on electronics and investing in the entertainment industry, acquiring American movie production companies, which became Sony Pictures. The Chinese have already been buying national theater chains and investing in U.S. production companies, making movies with top American actors. Expect that the Chinese will likewise be looking for U.S. manufacturing opportunities, particularly in regions such as Pittsburgh.
Don’t underestimate the attractiveness of technology companies to the Chinese. What China has not done well to date is to develop advanced technologies, which they could export worldwide. They still need to buy and license commercially viable technologies. This is why you will see numerous Chinese companies looking around places like Carnegie Mellon University and MIT for opportunities to invest in emerging technologies that can strengthen their desire to grow internationally.
After two decades of rapid and expansive infrastructure growth, it’s unlikely that the pace of that sector of the Chinese economy will return to past levels for at least the next five years. This is likely to have a direct and negative impact on the metals industry both in China and the U.S. Ironically, this stagnation provides a perfect excuse for the Chinese government to accelerate the closing of outdated factories operating in the metals industry. Closing these inefficient factories will increase productivity in the long run and reduce the labor force, which is needed in other industries.
A related development is pollution. Polluting industries in China are causing significant long-term problems affecting the environment and the health of an increasingly vocal Chinese population. Government officials can no longer ignore the polluted air and unsafe water in Chinese cities, and the government is clearly serious about cutting back on polluting industries within its borders. Beyond closing and modifying outdated plants in steel, metals, chemical and other polluting industries, the government will demand pollution control technologies of all kinds. This will be a major area of opportunity for Pittsburgh companies that can supply products and services for environmental remediation.
A Pittsburgh success story
One example of Chinese investment in the U.S. involves Shenda Electric, a manufacturer of large power transformers. Unable to gain a U.S. foothold, Shenda decided to purchase a Scottdale, Westmoreland County, company called R.E. Uptegraff Manufacturing Company. Founded in 1926, Uptegraff was known for its excellent quality and specialty designs, but it was hit hard during the 2008–10 recession and its third-generation family owners were struggling to keep the business afloat.
Since purchasing Uptegraff in 2014, Shenda has invested in the renovation of the existing buildings (two of which date back to 1900 and 1908) and the remediation of all legacy environmental issues. Shenda provided new production equipment and performed long-overdue maintenance on mission-critical machines and systems. Productivity, on-time deliveries, and lead times have all improved. In 2017, Shenda will renovate and transform the historic landmark “1900” building into its North American corporate offices. It will break ground on a new multimillion-dollar factory addition that will double Uptegraff’s capacity and size range and increase employment in Scottdale. In other words, according to Uptegraff CEO Chuck Mosca, “without Shenda’s investment in the physical infrastructure and commitment to the U.S. market and local job creation, there would be no Uptegraff today.”
China is now a world power and economic competitor, and it is up to us how we respond. While western Pennsylvania is reinventing itself with urban housing developments, bike lanes, farm-to-table dining, motion picture industry, medical advances, cultural attractions, and a thriving hospitality industry, it must do more. One way is to understand, seek, and welcome dialogues with Chinese companies—and to embrace the diversity it will bring to our region. Maintaining an open mind about the benefits from Chinese foreign direct investment will present new opportunities for growth that were unheard of 10 years ago. The “new normal” for the U.S. is that the Chinese are not only coming—they are here.


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Society Of Indian Automobile Manufacturers news
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bps impact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017.
Maruti Suzuki India's top seven best selling models accounted for over 35 per cent of the domestic PV sales at 10,74,937 units. Overall, the company which sold a total of 14,43,641 units last fiscal had a market share of 47.38 per cent in the PV segment.
Against a 14 per cent share in the overall passenger vehicle sales at the end of March 2010, the same has crossed 25 per cent at the end of March this year.
The passenger vehicle segment sold 282,519 units as against 256,920 units during March 2016, thereby registering growth of 9.96 percent. In this segment, while passenger cars grew by 8.17 percent, sales of utility vehicles jumped 20.91 percent.
The manufacturers told a bench of Justices Madan B Lokur and Deepak Gupta that as per report of the Environment Pollution Control Authority (EPCA), they have to start the conversion of their vehicles into BS-VI from 2019 so that it could be sold from April 1, 2020, but said that there were technological issues in it.
ricol, which currently supplies telematics solutions to companies like JCB, John Deere, CNH and Tata Motors, is looking to Rs 100 crore from its telematics business by this fiscal end and triple that in the next 2-3 years.
SIAM which has sought a meeting with the PM has said it is “being penalized despite meeting the law,” because of the BS III ruling. SIAM has requested a national automotive regulatory body that will decide the timeline for implementation of various norms for the industry.
In a meeting of the SC-appointed EPCA to review the plan, the Society of Indian Automobile Manufacturers (SIAM) vehemently objected to the proposal that only BS-VI compliant vehicles be registered from April 2020.
"Dealers are selling BS-III vehicles to their relatives in bulk. Basically these fake sales are being done to ensure that they can be registered when they are resold to customers," an EPCA member said.
I would like to think so, not just ours, but that of the EPCA (Environment Pollution Control Authority – which petitioned the court), of some automakers who felt as we did even though they chose not to say so publicly, as also of various other agencies and individuals who put their shoulder to this.
The companies were hoping for a relief from SC as they pleaded for sale of BS-III vehicles that had already been made and dispatched to dealers. While their plea received support from the government, SC was in no mood to relent as it pressed for sale of only BS-IV vehicles, which are less polluting and more efficient.
The decision attracted quite a strong criticism as some of industry termed the decision as unfair and unexpected.
The Environment Pollution Control Authority (EPCA) has found that most vehicle manufacturers didn’t prepare for the April 1 deadline for a nationwide rollout of BS-IV norm by scaling down their production of BS-III vehicles.
"In the current environment, OEMs ramping up BS-III vehicles aggressively before March 31 could create imbalance to OEMs like BharatBenz that are ramping down BS-III vehicles," DICV Managing Director and CEO Erich Nesselhauf said in a statement.
After a gap of three months, Honda City re-entered the top 10 selling cars list in February 2017 and stood at tenth position. The car sold 6,318 units as against 4,880 units during February 2016, thereby posting a growth of 29 percent.
The apex court, which was hearing pleas of automobile manufacturers seeking permission for disposing of around 8.2 lakh BS-III vehicles which are being held in stock, indicated that either it will ban registration of such vehicles or impose costs to compensate for the health hazards created by pollution.
"Society of Indian Automobile Manufacturers (SIAM) has informed that the economic burden for moving to BS-VI emission norms for automobile manufacturers would be very significant."
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