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Infant formula crisis argues for less government intervention, not more
[This piece has been published in Restoring America to highlight economic reforms Congress could make to prevent crises like the infant formula shortage from occurring in the future.]
This week, I testified before the Senate Judiciary Committee Subcommittee on Competition Policy, Antitrust, and Consumer Rights on “Infant Formula and Beyond: The Impact of consolidation on families and consumers” and – given this week’s troubling news of continuing production issues at Abbott Laboratories’ Michigan plant – the hearing couldn’t have been more timely.
All participants in the hearing agreed that the shortages in the United States were caused in large part by the current concentration of infant formula production in the United States between Abbott and three other companies: when Abbott launched a voluntary recall and closed this Michigan plant, there were no easy or immediate replacements to fill a gaping hole in the US market.
However, while some in the audience sought to blame “unregulated capitalism”, free trade and the government’s lack of broad antitrust powers for the crisis, I explained that “the current concentration of producers and all the resulting problems are primarily the result of federal government policy. , not some sort of natural private market failure” that could warrant further antitrust action. In particular, several US policies have worked to ensure that the infant formula market there is stagnant, dominated by a few large domestic companies and highly vulnerable to an economic shock. These policies include:
- Customs barriers. US tariffs, trade agreements, and FDA rules effectively block nearly all foreign-made infant formula from the US market, contributing to market concentration. In fact, as my Cato colleague Emily Ekins and I recently wrote in the Wall Street Journal, shipments from Europe have been routinely seized and destroyed by US Customs and Border Patrol because they failed to meet FDA labeling and other rules – even in the midst of the current crisis. The White House and the Congressional Research Service estimate that 98% of the US infant formula market is supplied annually by domestic production, one of the highest domestic market shares of any major food product.
- Government contracts. The expansion and design of the special supplemental nutrition program for women, infants and children (“WIC”) effectively ensures that the US market remains focused. WIC provides vouchers to low-income Americans to purchase pre-determined brands of infant formula from approved retailers. Since the program’s inception in 1974, participation in WIC has grown significantly: today, the program accounts for more than half of all national formula sales. This purchasing power allows the government to require producers to offer significant discounts; and in exchange, state WIC agencies offer large sole-source contracts to winning bidders. The system undoubtedly saves US taxpayers money, but when combined with the sheer size of WIC, it creates competition concerns. First, only large, established producers have the capacity, capital, and regulatory expertise to navigate the WIC procurement process and offer deep upfront discounts on high-volume government contracts. Second, research shows that large, exclusive WIC contracts help successful bidders gain market share and price increases in the non-WIC market and thus become the dominant supplier in the state in question. It’s a recipe for focus – disrupted only by the current crisis. But as an industry expert recently told the wall street journal“If the government does not change [the WIC] system, things will go back to how they were – a forced duopoly.
- Regulation. Finally, stringent FDA regulations specific to infant formula are also likely amplifying domestic market concentration. Since 1980, the United States has regulated infant formula more strictly than other foods here and more strictly than infant formula in most other countries. Whether or not this level of regulation is believed to be warranted, it likely contributes to concentration in the infant formula market. Recent research finds, for example, that increased regulation is associated with fewer firms in a market and lower start-up rates, and anecdotal evidence supports these findings for the highly regulated market for formulas. Until a few weeks ago, there hadn’t been a new formula maker in the United States since 2007, and it took new player ByHeart more than $190 million and five years to start the production. The company’s CEO recently attributed the lack of market entrants to the time and expense required to “research and understand FDA regulations.” The head of another startup, Bobbie, said much the same thing.
As I have explained elsewhere, the infant formula crisis is a harsh lesson in the dangers of economic nationalism and industrial policy: “making everything here” might insulate us from foreign shocks, but it makes us much more vulnerable to national shocks and less able to adapt when problems arise (as they always do). It is also a lesson for those who seek to use antitrust and competition policy to attack “concentration” in the U.S. market: to the extent that there is concentration and stagnation in an industry, it is usually caused by government action, not some sort of “market failure”. ”
As I conclude in my testimony, learning this lesson for infant formula also points us to real solutions:
[The crisis has] was largely caused by government policies that restricted foreign competition, reinforced the dominance of a handful of large domestic firms, and stifled new market entrants. Policymakers looking to improve the US infant formula market should therefore reform these policies, not add another layer of government regulation to the many regulations we already have. Reforms could include:
- Elimination of all customs duties and tariff quotas on imported infant formula;
- Revise the USMCA to allow the free movement of infant formula between the United States, Canada and Mexico;
- Require the FDA to authorize the import, marketing, and domestic sale of any infant formula approved by a competent foreign regulatory agency, such as those in Australia, Canada, European Union, Outer Space European economy, in Japan, New Zealand and Switzerland;
- Reduce the size (and therefore the influence) of the WIC program, while eliminating the sole-source contract model so that participants can purchase any infant formula legally sold on the US market; and
- Simplify the FDA approval process for new market entrants and reconsider whether Congress has struck the right balance between public health and market competition under the Infant Formula Act of 1980 and its amendments .
Creating a freer market for infant formula will not immediately solve the current crisis, but it would ensure that our internal market is more competitive and resilient in the next crisis.
I was pleased to see senators on both sides of the aisle express their support for some of these reforms, such as the automatic admission of European infant formula and the reform of the WIC program. These and other reforms were proposed – albeit temporarily – in legislation sponsored by the Committee’s ranking member, Senator Mike Lee. Given the ongoing crisis in the US market, Congress should hopefully act soon.
This article originally appeared in the Cato to freedom blog and is reproduced with the kind permission of the Cato Institute.


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Sunday's Super Bowl will be the year's marquee advertising event for Anheuser-Busch
It's troubling that Anheuser-Busch has been prompted to reduce its guidance so early in the year. Last quarter's results certainly threw up a few red flags. While international volume shot up to 4.7 million barrels, from 2.5 million shipped last year, that increase would have only been a scant 2.7% if the company hadn't acquired Chinese brewer Harbin last July. Stateside volume was even worse, dropping 1.5% to 22.9 million, as wholesaler sales to retailers declined by 3.2%. Even with the aid of an October price increase (with another on tap for this week) that lifted revenues per barrel, domestic sales still came in flat, at $3 billion.
Compounding the sales slowdown was a contraction in gross margins, which fell 110 basis points during the quarter to close the year at 39.9%. The company cited rising costs from its aluminum can manufacturing and recycling operations. The brewer couldn't even get any help from its theme parks, as profits in the entertainment segment dropped $6 million on higher operating costs.
Still, investors may be justified in seeing the bottle as half full. Sluggish volume growth is hardly a company-specific concern, and even with the recent drop in gross margins, Anheuser-Busch is still far more profitable than rival Coors
While the battle with Coors and SABMiller for domestic market share is as fierce as ever, a threat is beginning to mount from another direction -- the increasing popularity of wine and distilled spirits. If the company isn't careful, it may one day win the battle but lose the war. But the brewer is fighting back, having more than doubled its on-premise (bars, restaurants, and the like) marketing budget to $30 million this year in an attempt to win customers right at the front lines. Later this month, with great fanfare, there will also be a nationwide launch for the latest addition to the Budweiser family -- Budweiser Select.
The stepped-up promotional activity is essential to staying a step ahead, even though management has already cautioned that it may drain revenues per barrel this year. Anheuser-Busch has proved that it has what it takes to stay on top. The question is, how much will it cost?
Enjoy a cold one with your friends in the Fool's beer discussion board.
Fool contributor Nathan Slaughter is eagerly awaiting a taste test for Budweiser Select, but he owns none of the companies mentioned.

domain: news


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As expected, LG Electronics has officially launched its own payment service in South Korea. It is called LG Pay, which was showing
Tag: South Korea
LG Electronics has officially announced the availability of its impressive LG G Flex 2 smartphone in their home market. Reportedly, the handset
LG Electronics has officially introduced a new version of the LG G3 flagship Android smartphone on its home market. Dubbed the LG
Already pre-booked since last week, the LG G3 Prime aka LG G3 Cat. 6 smartphone is now officially introduced in its home
Samsung has officially unveiled its new gigantic smartphone in South Korea, the Samsung Galaxy W. This handset makes blurring the distinctions between
Samsung will launch a new gigantic 7-inch smartphone in its company’s home market, the Samsung Galaxy W (or Samsung Galaxy Mega 2).


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Sweden has reportedly said the M&Ms logo cannot be used in the country any longer.
A Swedish court has ruled that Mars, which owns the M&Ms brand, has a lowercase “m” that’s too similar to the one used by the country’s peanut brand Marabou, which is owned by Mondelez (MDLZ), the BBC reported.
Mars can still appeal the ruling, according to the BBC. However, if it doesn’t, the company will need to use a capital “M” beginning next month.
“We have always believed no confusion exists between the colorful m&m’s brand—one of the world’s favorite chocolate products—and the Marabou M Peanut Brand,” said Mars in a statement to the BBC. “Given the court’s decision we will assess the next steps for our beloved brand in Sweden.”
The BBC noted that Mars didn’t sell the candy in Sweden until 2009 because of an agreement with Marabou.
In February, Mars had other troubles when a piece of plastic was found in one of its Snickers bars. That led to chocolate bars and other products being recalled in 55 countries, as Fortune reported.
Fortune has reached out to Mondelez and Mars for comment and will update this story if we hear back.


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During a visit to Ulaanbaatar by representatives from the Czech Republic led by Deputy Foreign Affairs Minister Miloslav Stasek, to be held from September 12 to 15, the Mongolian National Chamber of Commerce and Industry (MNCCI) and Czech Chamber of Commerce will organize a meeting for businesses from the two countries.
The event will take place on September 14, at 10:00 a.m., at the MNCCI’s Conference Hall. Businesses and entrepreneurs from the two countries will hold roundtable meetings and individual meetings to discuss cooperation.
The Czech delegation will consist of businesses and entities representing the food, mining, construction, engineering, banking, insurance, mediation, transport, automotive, heating and cooling system, and heavy industry mechanism sectors.
The MNCCI is now registering domestic entities interested in taking part in the event to explore new business opportunities, set up partnerships, and expand their businesses.


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The app available on Android and iOS devices : iPhone/iPod Touch/iPad features free voicemail, caller id, call waiting service.
Dell Canada and Fongo launched their mobile app two days back. Its a free to download full feature VoIP phone alternative that may help Canadians save money on their mobile phone bills. Dell Voice uses Voice-Over Internet Protocol (VoIP) technology to receive and place calls with users existing data connection1 (i.e. 3G, 4G or WiFi) on the Fibernetics network. Fongo enjoys privileged access to Fibernetics, a Canadian CLEC that owns and operates its own coast-to-coast network in Canada.
"Dell and Fongo want to tilt the competitive playing field by offering smartphone users everything we believe they need in a mobile phone service - for free," says John Stix, co-founder and chief marketing officer of Fongo.
Dell voice is currently available for Android and iPhone devices, and is expected to be launched for Blackberry as well in March 2012.
Fongo is a next generation digital communication platform that can potentially deliver the end of Voice costs for smartphones in Canada.
Fongo's application works on any iPhone, Android based phone and soon BlackBerry. Users receive a brand new Canadian telephone number, free long distance calling to most Canadian cities, unlimited airtime, Voice mail, caller ID and many more free features included.


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BY SILAS NKALA
Covid-19 and the general deterioration of the economy have conspired to make this year one of the toughest festive seasons for workers, a unionist has said.
Ambrose Sibindi, the Zimbabwe Congress of Trade Unions (ZCTU) western region chairman, said most workers had not received their traditional bonuses because companies had performed poorly due to lockdown restrictions to control the spread of Covid-19.
Zimbabwe first went into lockdown at the end of March and for several months the economy was at a standstill.
Hundreds of companies never recovered after the forced closures and this saw thousands of workers losing their jobs.
Sibindi said the situation remained dire for many workers and this festive season would prove to be the most difficult in a long time.
“Most of the industries operating, in terms of production, are around 50% or so, but some are totally closed and others have subdivided their premises,” he said.
“You get in and find that there are some indigenous people who have been given some space to operate.
“From the outside you may think that the factory is operating, but when you get in you get the shock of your life, that there are three or four small companies operating within, so the owners of the company rely on rent to survive. But generally the situation is very bad.”
He said very few workers had received the 13th cheque this year.
“We are getting information that some were given 40%, some as little as 30% as their bonus which means things are not alright,” the unionist added.
“Some companies are charging in foreign currency for their products, but still pay their workers in local currency and they hide behind the Covid-19 issue.
“They are taking advantage of the situation to cheat their workers.”
The Consumer Council of Zimbabwe says it is growing increasingly worried that prices of basic commodities were rising beyond the reach of the majority of households.


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just-drinks authors and correspondents
Articles by The IWSR
The Cognac market in China may be almost half the size of the US market in volume terms but, in value terms, has grown to be worth 70% more than the US, according to recent research.
A wave of diversity, innovation and experimentation is helping the global wine and spirits market pull out of the economic downturn, according to recent research.
The spirits industry is on the path to recovery following a hard 2009 during which many markets were affected by the credit crunch, according to The IWSR’s Forecast Report 2010-2015. Several countries and categories are returning to stability or growth in 2010, but the time and speed of recovery will vary considerably depending on local circumstances.
- A tobacco analogy soft drinks will want to embrace
- just The Preview - SABMiller's Q1
- Pernod's Portman Group penalty - a coincidence?
- Cleaning China's seedier side brings Remy balance
- PepsiCo to consider more re-franchising - CEO
- Diageo's Captain Morgan Facebook ad banned
- Diageo faces public consultation over W&M sale
- William Grant silent on Drambuie bid talk
- Bacardi to fight US football team legal action
- Remy posts Q1 sales drop as Edrington loss bites


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posted on July 29, 2015 17:01
Back in 2005, Ford brought back the Ford GT as a halo car. Ten years later, Ford dropped a new GT at the 2015 North American International Auto Show. It features a carbon fiber monocoque with a 3.5L twin-turbo EcoBoost V6 engine not far removed from the Roush Yates engine used in the IMSA Daytona Prototypes. So it came as no surprise when Ford showed off a race version at the 2015 24 Heures du Mans. After all, being in France, there’s the whole romance of 2016 being 50 years since Ford won Le Mans. There’s not much in the way of photos, but we can glean a little bit in what it takes to convert a street car into an endurance race car.
[Read the rest of this article...]


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40% of NFL fans say they’d pay for Apple TV+ just to get Sunday Ticket
As rumors of Apple’s interest in picking up the rights to stream NFL Sunday Ticket continue a new survey claims that 40% of NFL fans would be willing to subscribe to a streaming service just to watch games.
Price still matters
The survey, carried out by The Streamable, asked more than 2,500 NFL fans about their plans for watching Sunday Ticket with “almost half (48%) of NFL fans definitely will or are likely to subscribe to Sunday Ticket when offered by a major streaming provider.”
That take-up would not only be big deal for the NFL, but the streaming service itself as well. The numbers claim that “more than 40% of those that never subscribed before say they definitely will or are likely to subscribe” to wherever NFL Sunday Ticket lands.” That would mean that people would pay for Apple TV+ or Amazon Prime Video just to get their football fix.
However, price is still a consideration for people with just 26% saying that they would be willing to pay the $300 base price that is currently required, with survey respondents suggesting a price between $150 and $200 would be a better option for them.
Subscribers to Apple TV+ would also benefit from a raft of TV shows, movies, and documentaries including the ever-popular Ted Lasso, The Morning Show, and Severance. They’d also have access to Friday Night Baseball, too, with NFL Sunday Ticket potentially the next addition to the roster.
Looking for the best Apple TV viewing experience? The Apple TV 4K box is as good as it gets, although those who want to spend less should also remember that Apple TV+ can be streamed on just about anything — including smart televisions, game consoles, and more.


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Jeff Bezos, the founder and CEO of e-commerce giant Amazon, has again yielded to his longstanding rival – in terms of the overall fortune – Bernard Arnault, the chief executive of luxury goods titan LVMH, who gained $1.9 billion in net worth on Friday as the diverse-specialised conglomerate climbed slightly, by 0.7%, and thereby secured him the top spot on Forbes' list.
Both indeed have eye-watering retail empires, but Bezos has arguably been less successful (just slightly) of late, with his net worth going down by $760 million to $115.6 billion, as Amazon shares dipped 0.7% the other day.
Arnault’s lucrative businesses, with Hennessey, Louis Vuitton and Sephora, etc. being just a part of them, are currently worth $117 billion, markedly up from $102 billion when he last appeared on the cover of Forbes less than four months ago, also overtaking Bezos.
“If you compare us to Microsoft, [we are] small”, Arnault shared with Forbes, arguing that “it’s just the beginning”.
Bill Gates, who is known to have donated $35.8 billion to date to charity, retains the third spot on the list of the wealthiest people, with Arnault and Bezos constantly changing places in the first two spots as their net worth is less than $2 billion apart.


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Microsoft has released a new video showing a proof-of-concept Xbox system called IllumiRoom. The new system uses a Kinect and a projector to “augment the area surrounding a television screen with projected visualizations to enhance the traditional living room entertainment experience.”
According to Microsfot, the IllumiRoom can be used to “change the appearance of the room, induce apparent motion, extend the field of view, and enable entirely new game experiences.”
In the video below you can see effects like explosions, fire and falling snow being projected into the living room in real-time. Microsoft promises that there are no added effects in post production.
More information about the system will be available around the end of April, at ACM CHI 2013 conference in Paris, France. Here’s the video.Some of our posts include links to online retail stores. We get a small cut if you buy something through one of our links. Don't worry, it doesn't cost you anything extra.


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Google has an odd definition of "soon." For example, five of the countries that just received access to Google Play gift cards were first told that they were coming "soon" almost five months ago, and the last one has been waiting a further six weeks. Oh well, I suppose it's best not to look a gift card in the mouth. Belgium, Denmark, Finland, Ireland, Norway, and Sweden have been added to Google's gift card system, and merchants should have gift cards in stock well before Christmas.
If you're a Norwegian Android developer, you might want to consider attending JavaZone, an independent Java programming and development conference being held in Oslo from September 9th through the 11th. If you're not, you can still enjoy this parody trailer for the event posted to the group's YouTube page. If you're at work or in public, heads up: the video below has some mild swearing.
To get all the in-jokes here you'd probably need a programming undergrad degree, a passing knowledge of George R.
Good news, European readers: physical gift cards for the Google Play Store are coming to more of you soon. Google updated its list of supported countries for gift cards today, marking Belgium, Denmark, Finland, Norway, and Sweden as "coming soon." We can't say exactly when - a few other countries like Greece, Poland, and Portugal got the same treatment earlier this month, and they're still marked as coming soon instead of linking to the relevant page.
Today's a big day for Chromecast. Earlier today we reported that Google's little magic media stick was ready to stream shows to TVs in Japan and Austrialia. Now we see that the device has also arrived in Belgium, Norway, Portugal, and Switzerland as well.
Even better, all four new territories can access the all-you-can-eat All Access music subscription service. That's generally been the way it works - currently all twenty-five countries supported by Google Play Music also have access to All Access.
Update: It looks like Telstra has had carrier billing for a couple of months, and Google is just now getting around to updating the support page. Thanks to Adam Ricket (@onlineadr) for the heads-up.
Good news, Aussies: your mega-carrier Telstra is now in Google's good graces when it comes to billing for apps and other purchases on the Play Store. Just select carrier billing during the checkout process, and the purchase price will be added to your next phone bill instead of your credit or debit card.
Samsung is definitely on a roll with the Galaxy S III updates - not a day goes by without a massive rollout of Jelly Bean to devices all over Europe, and now the Middle East as well. The company began sending Android 4.1.1 OTAs to the following territories:
We often report on things that only affect us here in the US, but other areas of the world aren't out of our realm of coverage, either. Thanks to a tipster, we have reason to believe that the Gingerbread update for the Scandinavian variant of the LG G2x/Optimus 2X/LGP990 has been delayed from Summer to Fall of 2011 - if the Swedish LG site is correct, that is.
Translation courtesy of Google
The Swedish LG site doesn't seem to be the only one reporting this timeline change - the Danish and Norwegian sites are also reporting the same thing.
Last week, Google announced that over the next 2 weeks, support for purchasing paid apps was coming to 18 more countries: Argentina, Belgium, Brazil, Czech Republic, Denmark, Finland, Hong Kong, India, Ireland, Israel, Mexico, Norway, Poland, Portugal, Russia, Singapore, Sweden, and Taiwan.
This morning, reports are trickling in that the switch has been indeed flipped, at least in some of these countries. So far, we've been able to confirm Sweden, Denmark, and India.


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Are we all going to be trading in our Benjamins for the Chinese yuan soon?
Talks about a global currency have been in the works for years, but recent talks about China’s aggressive plans to globalize their currency, the RMB (renminbi), or yuan, have international companies taking another look.
According to Business Without Borders, China is the world’s second largest economy, but their money is ranked far behind other world currencies. The Chinese RMB is No.14 most used, far behind the Euro, which ranks No. 1, and the US dollar, No. 2.
But apparently that will not be for long. The internationalization of the RMB is fast approaching. Last year, in just 9 months, the RMB leaped 6 spots in rankings of world currencies, from 20th to 14th, according to SWIFT (Society for Worldwide Interbank Financial Telecommunication).
Chris Davies, Deputy CEO of HSBC China, said, “At some point in the next decade to come, the RMB will be a major player among global currencies.”
Now that China is upping their game, the question is, how realistic is this transition, from using multiple world currencies to a single global currency? Only time will tell.
Theresa Dinh is a Staff Writer for GlobalGrind. Workamaniac. Southern Girl who just can’t get enough of spicy food, shiny black leggings, and Chris Hedges. Follow her on Twitter @iamsethera


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Motorola is supposed to be unveiling their new range of products today, which should include an upgraded Moto X and Moto G phone, as well as the Moto 360 Android Wear watch and another accessory, which appears to be some sort of Bluetooth headset. But we won’t be seeing a live-stream of an event, instead Motorola will start showing off their goodies on their social media channels.
The announcements of their devices, will then be followed up with a live Q&A with Lauren Gellman, Director of Product Marketing, and Steve Sinclair, VP of Product Marketing who will answer questions live on air, during a Live Stream, set to go live at 2:30pm CT – or around 4:30am tomorrow (6th Sept) morning. While you will need to be on the Google+ event page to participate in the Q&A, you will be able to watch the live stream on YouTube, which you can watch in this embedded video :
Join us this afternoon, to see exactly what Motorola has in store and let us know what you expect to come along this afternoon.


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Google launched Stadia, its troubled game streaming service, today with a small library of games, missing features, and many complaints.
“Starting today, playing games on your TV in 4K without a console, streaming games to a Chrome browser on a simple laptop, or enjoying the biggest games ever made on your phone is a reality,” Google vice president Phil Harrison announced. “It seems impossible until you experience it. Stadia Founder’s Edition starts arriving today, making the world’s best games available to players everywhere without a dedicated console or expensive PC.”
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Well, it’s not arriving today for everyone, which is part of the problem: Many who pre-ordered the Stadia Founder’s Edition won’t receive the product for days, and many others saw their preorders unceremoniously canceled by Google in error.
Looking past the Google-centric blogs, the early reviews are painful. The New York Times warned its readers not to replace their existing video game consoles just yet thanks to its long setup time, and “glitches, bugs, and quality issues.” Forbes said it was “a technical and conceptual disaster.”
Google will likely fix the early mistakes and the service will, of course, improve over time. But the real worry, of course, is that Google will flounder around for a year or two and then just cancel the service, as it has so many times in the past.
Until then, we can look forward to Brad’s review of Google Stadia. You know, if it ever arrives first.


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Singapore-based payments platform fastacash, which enables payments across social networks and via messaging apps, has partnered with international money transfer brand Xpress Money Services,to launch the XOPO service.
The XOPO service is claimed to be the first services allowing users perform international transactions through social networks and messaging channels, including Facebook, WeChat, WhatsApp and Twitter. According to fastacash, this initiative is designed to help move funds through social media networks or messaging channels globally in a platform-agnostic manner.
Consumers can also send digital content, such as a photo, video or message, along with the money transfer. Beyond the addition of context in addition to the financial content, fastacash says that a unique, tokenised link – called ‘fastalink’ – is generated. Consumers can share this across the social and messaging channel of their choice.
In its initial roll-out, XOPO users in the United Kingdom (UK) can send money to any country, including the top international money transfer corridors such as India, Nigeria, Pakistan and the Philippines.
The UK is the fourth largest international send market, behind the USA, Saudi Arabia and the United Arab Emirates (UAE), with cash outflows estimated at over US$25 billion annually.This includes $3.6 billion to India and $3.7 billion to Nigeria. By empowering customers to , fastacash and Xpress Money are redefining global money transfers.
Commenting on the partnership, Vince Tallent, chairman and CEO of fastacash, said, “The two companies have come together to leverage our strengths and expertise to deliver this disruptive service into the market. Our vision is to make the act of money transfer as simple and immersive as possible.”
Tallent added, “With the launch of XOPO, we are making it possible to share money through social and messaging channels, where people live and breathe. fastacash is leading this charge – bringing transaction capability to exactly where and how people communicate with their family and friends.”
Xpress Money’s network includes millions of users across 150 markets globally, as well as strategic working relationships with major banks and non-banking financial companies (NBFCs) and what Xpress Money claims to be amongst the largest remittance networks in the industry. The partnership with fastacash provides a proprietary platform and tokenisation capabilities, through which payment transactions are made social and secure.
Sudhesh Giriyan, COO at Xpress Money Services, said, “We are pleased to work with fastacash, with whom we share a common vision of continuous innovation, offering services that provide real benefits to people. Xpress Money offers a bouquet of services, including Cash Payouts, Account Credits, Cash to ATM, Mobile Wallet Credits, Credits to pre-paid Remit Cards and Door Delivery.
Giriyan added, “XOPO is an addition to our convenient services; by leveraging on social networks, we are complimenting the traditional ways of cross border money transfers.”
Eventually, XOPO will be expanded to other markets, including the US, Canada, Australia and additional European markets, as well as the expansion of its offerings to include the transfer of international airtime and domestic money.
“The World Bank estimates that USD 685 billion worth of international money transfers will take place this year. By making international transfers a social activity, not only are we disrupting how billions of dollars is moved across-borders, but – together with Xpress Money – we are also innovating to bring an invaluable convenience to end-users, letting them decide how they want to send and receive money” added Tallent.


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West Central Tribune
Sturgis may hit 1 million visitors to mark 75 years of motorcycle rallies
Willmar’s 2016 capital spending proposal reviewed ahead of report to be given at Monday meeting
Records published Aug. 1
Clara City man dies when pontoon tips near Sunburg
Motorcycle safety training recommended for even the most seasoned riders
Twins drop series to Mariners
Rox take 2 of 3 from Stingers
Newman brings NFL smarts — and scars — to Vikings’ secondary
Amateur Baseball Roundup: Atwater thumps Twins in CLL title game
Legion Baseball: BOLD falls in final pool-play game at state
Grove City man hopes to find success in tough rap business
New London, Minn., to celebrate 150 years by remembering and enjoying its past
Through sewing, two people learn the gift of mentorship
Ahrenholz — Hellinga
Beseman — Palmer
McGuiggan — Wotzka
A fresh take on soup & salad
Mary J. Kyseth
Philip Leo Thissen
Jerry A. Tilden
James A. Halsey
Letter: Take responsibility, Obama
Letter: The end of the American experiment
Editorial: Trump’s mouth will be his own undoing
Editorial: Thanks, Councilman Dokken, for your service
Editorial: Willmar District makes iPads successful
June 4, 2015
Glenwood firm reports 10 percent sales jump
GLENWOOD — American Solutions for Business of Glenwood reports a 10 percent increase in invoiced sales over the same 10-month period last year, while the general trend for industry distributors is just over 5 percent. Over 95 percent of American’s totals are derived from sales...
June 4, 2015 - 6:57pm
May 6, 2015
Divine Home Care names Aakre marketing manager
WILLMAR — Divine Home Care has hired Samantha Aakre as marketing manager. She will be responsible for managing advertising, marketing and promotional activities for the company. Also, she will be responsible for maintenance of company website and social media platforms. Aakre joined...
May 6, 2015 - 12:46am
August 24, 2014
Remembering past State Fair fads
One year it was the square yardstick. Is a square yardstick better than a flat one? That’s not important. What was important at the Minnesota...
News / state
August 24, 2014 - 11:34pm
April 15, 2014
Attracting residents: Renville County launching marketing campaign for parks
OLIVIA — With over 1,300 acres of woodlands and prairie, and lots of shoreline on the Minnesota River and two lakes, Renville County’s seven parks offer camping, hiking and fishing opportunities all within a short drive for all of the county’s residents. Yet last year, only...
News / region
April 15, 2014 - 11:26pm
October 31, 2013
Facebook shares recover as investors shrug off falling usage
(Reuters) - Facebook Inc shares steadied on Thursday after wobbling in the wake of post-earnings comments by company executives about slowing use and a strategy of not increasing the frequency of ads shown to users. Facebook shares breached the $50 mark in heavy premarket trading...
October 31, 2013 - 7:11am
May 21, 2013
Kandiyohi County, Minn., campaign will sell idea of recycling
WILLMAR - Kandiyohi County will be using a local marketing company to help convince people to recycle. With an estimated cost of $3,000 to $5,000, the commissioners agreed the campaign is well worth the investment because it could mean extending the life of the landfill. The landfill...
News / local
May 21, 2013 - 7:13pm
September 13, 2012
No Time to Be Cool blog: Hyper-sexual society targets youth
September 13, 2012 - 8:37am
September 4, 2012
Jennie-O going to the World Series again
WILLMAR -- In conjunction with a recent launch of new breakfast products, Jennie-O Turkey Store is ramping up its national advertising, including another trip to baseball's biggest event: the World Series. For the second year in a row, Jennie-O will sponsor the World Series and have...
News / local
September 4, 2012 - 12:00am
November 13, 2011
Workshop on Wednesday in Milan, Minn., focuses on marketing local foods
MILAN -- Do you produce food on your farm and market it directly to customers in western Minnesota, eastern South Dakota or the Twin Cities? A free Land Stewardship Project workshop for farmers who are interested in exploring ways to distribute farm-fresh local foods more efficiently...
News / region
November 13, 2011 - 10:49am
January 9, 2010
Grain drying, marketing seminars on Jan. 19-20
WILLMAR -- A series of grain drying and marketing seminars are scheduled for Jan. 19 and 20 in Willmar and Alexandria and are designed to provide growers information on how to increase grain dryer and handling capacity. Dr. Ken Hellevang, Extension ag engineer at North Dakota State...
January 9, 2010 - 12:00am
September 23, 2009
Community marketing campaign aims to sell Willmar area to itself
WILLMAR -- The face of Ryan Ruhl, flanked by two members of the Little Crow Ski Team, smiles out from the Community Marketing Coalition's latest...
business / local / community
September 23, 2009 - 12:00am


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Get The Visibility Your Company Needs
Reduce compliance risks and mobility costs while managing individual and project-related travel with ImmiSMART: the solution that unifies your travel and mobility programs.
UK: Changes to Visitor Visas for Chinese Nationals Announced
October 22, 2015
The UK Prime Minister”s Office has announced on 21st October 2015 that new visitor visas for people from the People”s Republic of China will be introduced from January 2016, aiming to attract more Chinese tourists and bring significant benefits to the UK economy.
Currently the standard UK visitor visa is for 6 months and costs £85, with the possibility to apply for a longer period for certain purposes and a higher price. The new visitor visas will allow Chinese tourists to apply instead for a 2 year visa at no additional cost. There is also an intention to go further and introduce a new 10 year multi-entry visa for Chinese tourists for the same price. Other improvements include expansion of the UK mobile fingerprinting service to an additional 50 cities in China and potentially the network of Visa Application Centres.
Chinese tourists contribute £500 million annually to the UK economy with an average spending of £2,688 per person every time they visit. As China is becoming one of the fastest-growing tourism markets, the UK has been competing for their favourite tourist destination in Europe with the countries in the Schengen area.
The new visitor visas amount to a better offer than the standard 90 day Schengen visa, which is built on the many improvements the UK government has already made to the visa service for Chinese applications. With the extended visa duration and steps taken to streamline the application process, the UK hopes to encourage more Chinese visitors to the UK and maximise their spending power, benefiting the UK tourism industry and beyond.
For further information on the Visit Visa Process, please do not hesitate to contact us.


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In preparation for the 25th anniversary of the Mr. Bean brand in 2015, Tiger Aspect Productions has appointed two new licensing agents.
Zodiak Kids has appointed three new licensing agents in Scandinavia, Korea and South America for “Totally Spies!.”
Hugo Games has released its latest app featuring the classic character Hugo the Troll, while Limo Licensing works to grow the brand.
Limo Licensing has been appointed to represent Hugo Games' classic Scandinavian TV character Hugo Troll.
©2017 UBM. All rights reserved. A UBM Company.


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Brigham Young University andÂ Lockheed MartinÂ will collaborate on the applicationÂ of gamingÂ technology toÂ help users interact with, record and share engineering designs in virtual reality environments.
LockheedÂ said Tuesday the project isÂ part of a research grant awarded to BYU’s mechanical engineering department for the development of a VR training and design review system that will support the company’s digital engineering efforts.
The partnership will utilize three-dimensional technology to help increaseÂ collaboration, design efficiency and training as well as help identify potential manufacturing or sustainment process challenges.
“[BYU’s]Â work will help us learn from and share experiential 3-D imagery in every stage of product development, from engineering design and manufacturing to operations and sustainment,” saidÂ Darin Bolthouse, manager of Lockheed Martin’sÂ Collaborative Human Immersive Lab in Denver.
John Karas, aÂ vice president of Lockheed and manager ofÂ itsÂ Ground Based Strategic Deterrent program, saidÂ that the company’s laboratory in Utah and VR technology will help clients experience Lockheed’s designs on a virtual platform.
Lockheed noted that it discussed options with BYU on the continuation of a virtual reality research partnership and other potential manufacturing research opportunities between the two parties.
Additive manufacturing and virtual reality elements support the company’s Digital Tapestry approach that covers the implementation of modern digital technology for conceptualization design, manufacturing, sustainment and verification applications on projects such asÂ missile and interplanetary spacecraft development.


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The "research phase" for The Witcher 4 has concluded, meaning the team at CD Projekt Red is ready to start development.
Speaking to investors in a Q1 FY22 financials briefing, Adam Kicinski, CEO of the CD Projekt Group, said the company was "eager" to return to the franchise.
"We are very eager to revisit the universe which has shaped our history to such an extent," said Kicinski.
"We have recently concluded the research phase for the first game in the new Witcher saga, which means that from now on further development expenditures will be capitalized on our balance sheet."
In March 2022, CD Projekt Red announced the start of a long-term strategic partnership with Epic Games. The partnership will see future CDP games developed using Unreal Engine 5. The Studio also announced at that time it was working on further additions to The Witcher series.
While CDP has yet to reveal anything about the game, it did say the Witcher medallion shown in the teaser is a lynx which may point to a whole new cast of Witchers to be introduced to.
Until the next game in the saga is released, you can appease your appetite by playing The Witcher 3: Wild Hunt on either PS5 or Xbox Series X/S after it releases during the second half of this year.


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The Moroccan government, which plans to sell an 8 percent stake in Maroc Telecom, will sell 6 percent of that this month as a block order to local ...
There are some 80,000 families in the northern Rif mountains of Morocco who make their living from growing pot
In an exclusive interview with Al Arabiya News, rising Moroccan star singer Saad Lamjarred speaks about the secret behind the booming ...
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Last month Ford's Jim Farley made waves at the CES when it was reported he told show attendees, "We have GPS in your car, so we know what you're doing. By the way, we don't supply that data to anyone." Farley and Ford later partially retracted and clarified that statement.
Automakers are obtaining location data through real-time navigation functions and other on-board location services and storing it for varying lengths of time. They need to provide motorists with more information on how and why they're collecting and sharing data, according to a report released Monday.
- Volvo shoots for self-drivers by 2021
- Jeep spends $1 billion on factories
- Find Parts & Accessories for your vehicle!
- Obama rolls out new EV plan
- Infiniti dealers ranked best, Tesla worst
- Compare Volvo XC90 and Lincoln MKX


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July 26, 2018
US chips giant Qualcomm has abandoned efforts to buy NXP Semiconductors, a Dutch rival, in a $44 billion deal after it was unable to secure regulatory approval from Chinese authorities.
A failure to rubber-stamp the deal has already been taken as a possible sign the Chinese government is retaliating against the US imposition of tariffs on billions of dollars of Chinese imports.
Qualcomm Inc. (Nasdaq: QCOM) hoped the takeover of NXP Semiconductors N.V. (Nasdaq: NXPI) would fuel its expansion into the Internet of Things and connected car markets, in which NXP has carved out a strong position. (See Qualcomm Cuts Jobs as It Seeks Chinese Approval for NXP M&A.)
It had already secured approval from other regulators but could not complete the deal without China's acquiescence because of the amount of business it does in the Chinese market.
In a brief statement on the upset, Qualcomm said it would pay a termination fee of $2 billion to NXP and played down the impact on its strategy and outlook.
"Our core strategy of driving Qualcomm technologies into higher growth industries remains unchanged," said Steve Mollenkopf, Qualcomm's CEO, in a statement. "We will continue to focus on our strong momentum in these growth industries with projected revenues of approximately $5 billion for fiscal year 2018, up greater than 70% from fiscal year 2016."
The news came shortly after the publication of results in which Qualcomm warned that a deadline for Chinese approval was imminent.
"In the absence of approval from SAMR [the State Administration for Market Regulation in China], we expect to terminate the transaction after 12.59 p.m. New York time on July 25, 2018, which is the 'end date' for the transaction under the definitive agreement," said the company.
Qualcomm also said that in the event of failing to secure Chinese approval it would repurchase up to $30 billion of its outstanding common stock.
The deal had been held up for months amid growing tension between the US and Chinese governments.
Besides slapping tariffs on a range of Chinese imports, US authorities have taken an increasingly tough line against Huawei Technologies Co. Ltd. and ZTE Corp. (Shenzhen: 000063; Hong Kong: 0763), China's two biggest makers of network equipment and smartphones.
A ban on the sale of US components to ZTE -- which stood accused of violating sanctions against Iran and North Korea -- was recently lifted after the company agreed to pay a $1.4 billion fine and make a series of management and organizational changes. (See Senate Republicans Capitulate to Trump's ZTE Deal .)
Because China buys far less from the US than it sells there, its ability to hit back with tariffs of its own is relatively limited. Instead, authorities may feel that blocking deals such as the Qualcomm bid for NXP is the most effective way to retaliate.
For all the latest news from the wireless networking and services sector, check out our dedicated mobile content channel here on Light Reading.
Qualcomm's results for its fiscal third quarter showed a 6% increase in revenues, to $5.6 billion, compared with the year-earlier period. Net income rose 22%, to $1.5 billion.
The manufacturer said its results had been hit by ongoing litigation with iPhone maker Apple Inc. (Nasdaq: AAPL) and other licensees, which has chewed into revenues at its licensing business.
At the chips part of the company, sales were up 1% in the quarter, to about $4.1 billion, compared with the year-earlier period. The licensing business recorded a 25% increase in revenues, to about $1.5 billion, over the same period.
In his own statement on the collapse of the Qualcomm deal, NXP CEO Richard Clemmer said: "While it is unfortunate that the semiconductor powerhouse that would have resulted from this transaction with Qualcomm could not close after 21 months of diligent efforts by the team, we are confident in our future as an independent market leader and will continue to focus our efforts to drive our long-term strategy in our leadership markets of automotive and secure IoT solutions."
NXP today reported a 4% increase in second-quarter revenues, to about $2.3 billion, and said operating income dipped 1%, to $618 million, compared with the year-earlier period.
The Dutch firm said the US ban on product shipments to ZTE had hurt sales at its RF power and digital networking division.
— Iain Morris, International Editor, Light Reading
About the Author(s)
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India's largest direct to home television services operator Dish TV added 0.39 million net subscribers for the quarter ended June 30, 2014, a shade below the 0.40 million additions in the preceding quarter, but above the 0.33 million net additions in the same quarter last year. This takes up Dish TV's total number of subscribers to 13.3 million. Note in April this quarter, Dish TV recently transferred its non-core business (including set-top boxes, dish antenna and related services) to its wholly owned subsidiary Dish Infra Services Private Limited (formerly known as Xingmedia Distribution Private Limited) on April 1, 2015. The company reported its maiden consolidated quarterly numbers. Financials Dish TV reported an operating revenue of Rs 736.7 crore for the quarter, up 19.2% from Rs 618 crore in the same quarter last year, and up 0.9% from Rs 729.9 crore in the preceding. The net profit was at Rs 54.2 crore for the quarter, a huge improvement from Rs 34.9 crore in the previous quarter and Rs 15 crore loss in the same quarter last year. The EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the quarter was at Rs 236.8 crore for the quarter, up 7.2% from Rs 220.9 crore in the previous quarter. EBITDA margin was higher at 32.1 % from 29.4% in the previous quarter. Highlights – Average Revenue Per User: Post consolidation, the average revenue per user (ARPU) for Dish TV increased to Rs 173 from Rs 172 in Q4 FY15. ARPU however would have been Rs. 180, as compared to Rs. 179 in Q4 FY15, without the effect of consolidation. –…
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After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
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WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) today applauded the news that 2011 was the first year of net income for Chrysler since 1997. Brown credited the company’s employees and facilities in northwest Ohio, as well as the auto rescue, as key to its success.
“Since the auto rescue, we have seen new investments and new jobs in Chrysler’s Toledo-area plants—which in turn have helped boost the company’s bottom line and led to the first year of net income for Chrysler in 15 years,” Brown said. “We know how to make things in Ohio—and our workers have been instrumental to Chrysler’s success. I am proud to congratulate the company today on its good news and will continue working with Chrysler leadership to bring new product lines and investments to Northwest Ohio.”
In January 2011, as the Toledo Auto Show kicked off, Brown called on the Chrysler Group to fully utilize the Toledo Assembly Complex by adding a new production line to the facility as part of the company’s planned 2011 expansion. Brown previously visited the Toledo Assembly Complex with Vice President Joe Biden in August 2010. At that visit, Brown and Biden touted the success thus far of the Administration’s actions to strengthen the American auto industry, including the role of the Administration’s investments in GM and Chrysler in helping these companies return to profitability, retain and hire workers, and keep plants open.
In June, Brown met with workers and toured the Chrysler Group’s Toledo Supplier Park with President Obama. Prior to the auto rescue, only 55 percent of the parts in Chrysler’s Jeep Wrangler were made in America. Today, 70 percent of the Jeep Wrangler is American-made – with many parts made in Ohio. The glass is made in Crestline, the steering column in Perrysburg, the seats in Northwood, the hard top in Carey, and cargo components in Holmesville.
In November, Chrysler announced a $365 million investment in the Toledo Assembly Complex, which the Toledo Blade reported will add 55 management jobs and 1,050 new production jobs.
According to a 2010 study by the Center for Automotive Research, more than 792,000 Ohio jobs depend on the auto industry; this figure includes 120,285 direct employment (people employed directly by auto industry: 39,685 by automakers and 80,600 by parts suppliers); 276,330 indirect employment (jobs indirectly employed by automakers or parts suppliers: 167,891 by automakers and 108,439 by parts suppliers); and 395,981 spin-off employment (expenditure-induced employment resulting from spending by direct and intermediate employees; 221,018 by automakers and 174,963 by suppliers). A 2011 study by the Center for Automotive Research found that 164,654 jobs in 2009 would have been lost in Ohio if the auto industry had not been rescued.
A list of Jeep Wrangler suppliers throughout Ohio can be found here.


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ixigo files preliminary papers for Rs 1,600 Cr IPO with SEBI
The IPO issue of ixigo will comprise of fresh issue of shares worth Rs 750 crore and an offer for sale to the tune of Rs 850 crore.
Le Travenues Technology Ltd, which operates travel platform, has filed preliminary papers with capital markets regulator SEBI to raise Rs 1,600 crore through an initial share sale.
The initial public offering (IPO) comprises fresh issuance of shares worth Rs 750 crore and an offer of sale of equity shares to the tune of Rs 850 crore by existing shareholders, according to red herring prospectus (DRHP).
As a part of the OFS, Saif Partners India IV will offload shares worth Rs 550 crore, Micromax Informatics will sell shares for Rs 200 crore, and Aloke Bajpai and Rajnish Kumar will divest stakes worth Rs 50 crore each.
At present, SAIF Partners holds 23.97 percent in the company, Micromax 7.61 percent, Aloke Bajpai 9.18 percent, and Rajnish Kumar 8.79 percent stake in the firm.
The proceeds of the fresh issue will be used to fund the company’s organic and inorganic growth initiatives and for general corporate purposes. Launched in 2007 by Aloke Bajpai, ixigo is focused on empowering travellers to plan, book and manage their travels by leveraging artificial intelligence, machine learning and data science-led innovations.
The Gurugram-headquartered company has a user base of over 250 million. In July, ixigo raised $53 million through a combination of primary and secondary issuance of shares from investors, led by Singapore sovereign wealth fund GIC. It has weathered the coronavirus pandemic well and managed to grow despite most travel companies being at under half of FY20 revenues in FY21. ICICI Securities, Axis Capital, Kotak Mahindra Capital, and Nomura Financial Advisory and Securities are the lead managers to the issue.
There has been a rush towards IPO from the Indian startup ecosystem, and the remainder of the year is likely to see at least half a dozen of them getting listed. The first to get off the block has been Zomato, which had a stellar debut and others getting ready to get listed are Paytm, Mobikwik, Nykaa, and CarTrade.
Edited by Kanishk Singh


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WESTLAND, Mich. – A woman was caught on video allegedly stealing tip money from a Westland nail salon after getting her nails done.
At Northwest Nail and Spa manicurists normally file nails, but after one woman's visit they filed a report with Westland police.
The incident happened Friday and surveillance video shows a woman going back to the work station and stealing tip money.
"It's what they use to pay their bills and buy groceries. I was just mad that it's like getting your wage taken away," Northwest Nails manager Vivian Trong said.
Video shows the woman trying to open the tip drawer from underneath and when that didn't work she leaned over and pried the drawer open and took several bills.
The workers normally leave the tips in the drawer and the woman is accused of stealing a good portion of tips in mere minutes.
According to the store manager, it was the woman's third time in the store. She never made an appointment and often waited two hours for a walk-in appointment. The manager wondered if the woman had been casing the store while she waited.
The video has been turned over to police.


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ollowing the collapse of the World Trade Organization’s (WTO’s) recent trade
liberalization talks, Bush administration trade officials are zeroing in on efforts to negotiate
regional and bilateral trade pacts — but that may be a lot easier said than done. Some of the
issues that caused the breakdown of the WTO talks are at the heart of the proposed regional pacts.
The question of agricultural subsidies looms large, and organized labor is conducting a
major grass-roots effort to block some of the proposed free trade pacts. Further complicating
matters is the insistence by textile industry lobbyists and their supporters in Congress that rules
of origin for textile products should require apparel to be made of yarn and fabric manufactured in
participating countries. In addition, they don’t want any tariff preference levels that permit a
given amount of apparel to be made from inputs from non-participating countries. Those measures are
strongly opposed by retailers and other importers of textiles and apparel.
Number one on the administration’s agenda is a Central America Free Trade Agreement (CAFTA).
Negotiations are underway with Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. US Trade
Representative Robert B. Zoellick hopes to conclude these negotiations by the end of this year so
Congress can vote on an agreement in early 2004. Obviously, this push is an effort to move a vote
as far as possible from next year’s election campaigns, as votes on trade issues are not popular in
election years. CAFTA enjoys considerable support right now, but the fallout from the WTO
negotiations could cause problems as some of the CAFTA countries were not exactly supportive of the
United States during the recent WTO meetings.
Another of the administration’s high-priority items, a Free Trade Area of the Americas
(FTAA), is in for much rougher sledding. The target date for FTAA is January 2005, when all quotas
on textiles and apparel are scheduled to expire. Already, an alliance of labor unions,
environmentalists and farm groups has organized a nation-wide grass-roots campaign to oppose FTAA.
Dubbed the “Blue-Green Machine” to signify the joining together of blue-collar workers and
environmentalists, this effort will culminate in a major protest surrounding a FTAA ministerial
meeting in Miami. Further complicating this issue is the fact that Brazil is a co-chair with the
United States on FTAA negotiations, and the recent WTO meetings underscored sharp differences
between the two countries on agricultural issues. In addition, the powerful sugar lobby has urged
the administration to go slowly with FTAA.
Despite all of these difficulties, administration officials remain optimistic that the
regional pacts can be concluded on schedule.
Bush’s Plan To Revive Manufacturing Unpopular
The Bush administration’s highly touted plan to revive the manufacturing segment of the
country has gone over like a lead balloon with textile manufacturers and some of their supporters
in Congress. With a good deal of fanfare, Secretary of Commerce Donald L. Evans unveiled a
five-step plan to “rescue” American manufacturing that calls for: establishment of an Unfair Trade
Practices Team to track and confront unfair trade competition and practices; creation of an Office
of Industry Analysis to assess the economic impact of new rules and regulations; consolidation of
all Commerce Department export promotion functions under a new assistant secretary for trade
promotion; an effort to expedite implementation of standards to ensure that American manufacturers
are “export ready” to sell into global markets; and continuation of consultations with
manufacturing industries with respect to their trade problems.
Auggie Tantillo, Washington coordinator for the American Manufacturing Trade Action
Coalition, said that while he welcomes the fact that manufacturing trade problems have “finally
gotten attention” at the highest levels of the administration, he does not think the Bush plan is
the answer. “We don’t need more statistics and reports,” he said. “What we need are direct policy
initiatives that will lead to a very specific plan to deal with China and other trade problems.”
Cass Johnson, interim president of the American Textile Manufacturers Institute, was even
more critical. He said the plan shows the Bush administration “simply does not get it.” He said
assigning the responsibility to a “fourth-level bureaucrat will not get the job done.”
New Coalition Strengthens Textile Trade Efforts
Textile industry lobbyists and industry leaders believe a newly formed manufacturing trade
coalition will strengthen their efforts to stem the tide of growing import competition, which they
say is causing massive plant closings and job losses. The Free Trade For America Coalition
(FREETAC) includes farmers, cattlemen and agribusiness; chemicals; metals; all of the major textile
and fiber trade associations; and steel, paper and textile unions. Its members represent some 3,000
corporations and 2 million employees.
FREETAC is the creation of Wilbur L. Ross Jr., who, among other things, is set to acquire
control of Burlington Industries Inc. and Cone Mills Corp. and has been a leader in the effort to
limit steel imports. Ross claims the American standard of living is “being systematically
destroyed” in the international trade arena, and he says the American public and its elected
representatives must be made aware of what he says is “an economic disaster.”
Although the various textile and fiber associations have been actively involved in
textile-specific trade issues, they feel they have much in common with FREETAC and believe it can
help them reach a broader audience, and presumably gain more political support for their efforts.
Like the textile associations, FREETAC will conduct public education and lobbying efforts to call
attention to the basic causes of the growing US trade deficit, such as foreign currency
manipulation, evasion and circumvention of US trade laws, and what it sees as “unfair trade
agreements.” In addition, the coalition will focus on what its members see as US laws that “deny
timely relief” to injured industries, their employees and communities.
With the 2004 presidential and congressional election campaigns underway, there is little
doubt that international trade already has surfaced as one of the major issues.


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Bad news for parents who have picked up Zak water bottles for their kids recently: The company has issued a recall of some 178,000 children’s water bottles due to a choking hazard.
Worried that your back to school shopping put your kid in danger and they’re sucking down drinks in a faulty bottle? Here’s everything you need to know to keep them safe:
1. The recalled water bottles were sold only at Target stores between June 2015 and July 2015, so if you’ve picked up a Zak bottle elsewhere or at another time, chances are you’re good to go.
2. The company has received a “small number of reports” that the straws have broken, and while Zak states no injuries have been reported, they are offering lid replacements to prevent children from choking on the bits of plastic.
3. Only bottles with yellow, blue, or red lids are recalled. Those with black lids are not part of the recall.
4. The affected bottles have the number 14158 molded into the plastic on the base.
5. To receive a replacement lid, call Zak at 866-737-1148 from 8 a.m. to 5 p.m. ET Monday through Friday or visit the recall section of their website and fill out a lid replacement request form.


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Wishing the summer didn't have to come to an end?
A giant 50-foot artificial sun is being installed at intu Merry Hill in a bid to make people feel happier.
Researchers for intu carried out a happiness survey and found that four in five people in the West Midlands (84 per cent) say they feel happier when it’s sunny.
In response, Merry Hill is installing the huge sunshine.
The glowing, bright orange sphere took 12 weeks to build, has a 15-metre circumference and shines as brightly as 12,000 lightbulbs.
The sun installation will arrive at intu Merry Hill on Thursday, September 27.
It has been modelled on a photograph captured by NASA and will be shining inside intu Merry Hill before going on a tour of 11 intu centres across the country as part of the shopping centre owner’s pledge to make shoppers smile.
Rob Pickersgill, marketing manager at intu Merry Hill, said: “The weather forecast this week at intu Merry Hill is guaranteed to be ‘sunny’ so shoppers are encouraged to take a pair of sunglasses with them when they visit!
"We know that people feel happier when it’s sunny and after a glorious summer we wanted to extend the sunshine and create something sunny for our shoppers."
He added: "At intu Merry Hill we have something for everyone, so whether you’re on a shopping spree or just want to sit back and enjoy the sun, we have you covered.”
The 50-foot, artificial ‘sun’ will be visiting 11 intu shopping centres around the country including intu Trafford Centre, intu Lakeside and intu Metrocentre between now and October 8.
According to the intu Happiness Survey, nearly a third of people in the West Midlands (31 per cent) say 2018 has been their happiest summer in memory despite the economic uncertainty, with two in five (41 per cent) crediting the sunshine for their increased happiness levels.
The research from intu also revealed that over two-thirds of people living in the UK (69 per cent) feel happier in the summer than they do in the winter, with sunshine (27 per cent), longer days (24 per cent), summer holidays (16 per cent) and more outdoor activity (15 per cent) the top reasons given.
Some 80 per cent say the summer rays also make them feel healthier.
A new flagship Next store opened at Merry Hill in August 2018.
Elsewhere, work is well underway for the world's biggest Primark to open at Pavilions Birmingham before Christmas.
A Bicester-style McArthurGlen designer outlet village is planned for Cannock in 2020.


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By Ann Hartman, Communications Office
Employment Security launched a redesigned, rewritten and refreshed agency website on June 30, giving job seekers, employers and unemployment claimants better access to – and a better understanding of – the resources they need.
After more than a year in development, the new esd.wa.gov improves on the old site in many ways, said Scott Peterson, multi-media and Web manager in the Communications Office. First, the website uses what’s called a responsive design, meaning it looks good and works well on personal computers as well as tablets, smart phones and other mobile equipment.
“Many of our customers are using mobile devices, so it’s really exciting that our site will function well for them,” said Peterson.
Second, the new website uses a persona-based layout, designed from the perspective of sample users (personas). The home page of the old site offered only two main categories: unemployment and employers, Peterson explained. Those choices didn’t adequately reflect the agency’s varied customers – job seekers, unemployment claimants, tax payers and business owners – who often fit into more than one of those categories at a time.


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Netflix announced yesterday, 24 March, that it is lowering its traffic on network providers by 25 per cent in India for a period of 30 days.
Netflix made this announcement after a similar decision was taken for the European market, in order to reduce the congestion on internet pipelines due to home quarantine of most people in the country as a result of the COVID-19 pandemic.
Netflix Content Delivery VP Ken Florance said in an official statement, “Given the crisis, we’ve developed a way to reduce Netflix’s traffic on telecommunications networks by 25 per cent, while also maintaining the quality of our service. So consumers should continue to get the quality that comes with their plan – whether it’s Ultra-HD, HD or SD. We believe that this will provide significant relief to congested networks and will be deploying it in India for the next 30 days.”
This also comes after COAI urged the video streaming platforms lately, to lower the streaming resolutions. Following its global contemporary, Amazon Prime Video too has started to lower the data consumption that streaming takes up on its platform. While local services like MX Player have already started it on its app, Hotstar and ZEE5 are also working to implement similar measures.
Meanwhile, this announcement from Netflix won’t affect most of its subscribers in India, as it maintains several different streams for a single title, and is removing the highest bandwidth streams as part of this move.
The mobile-only plan (Rs.199) that Netflix introduced in India last year is its most popular tier in the country, a source said. Both mobile-only plan and the basic plan, the immediate advanced tier above it, limit streaming to standard definition (SD).
As per a report by Bank of America, last week internet service providers in India witnessed a 10 per cent surge in the volume of daily traffic and data consumption.


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While nearly half of executives in financial services see FinTechs as a 'significant threat', three quarters believe that they at the same time offer opportunities for partnerships / collaboration. A pathway to innovation is regarded as the main driver for joining forces with FinTech players.
Financial Technology (FinTech) has, in recent years, garnered considerable attention from an array of industry insiders; their potentially disruptive propositions causing concern as well as offering opportunities for traditional financial services industry incumbents.
In a new report from Capgemini Consulting and Linkedin, in collaboration with Efma, titled ‘World FinTech Report 2017’, the view of FinTechs from the perspective of key stakeholders is considered, as well as the kinds of relationships that are being developed between startups, incumbents and customers. The report is based on a survey of 8,000 financial services customers in 15 countries: Australia, Belgium, Canada, China, France, Hong Kong, India, Japan, Netherlands, Singapore, Spain, Turkey, US, UAE and UK; as well as a number of surveys of financial services industry executives.
The impact of FinTech on the financial services sector remains a key unknown, executives in the sector are relatively divided on how they will be affected by the propositions of startups. While most believe that FinTechs will have some impact, some believe that FinTechs are unlikely to be able to scale to affect incumbents with a proposition that cannot be easily replicated, while others suggest that they lack access to the kinds of capital required to become real threats. Others see them as niche players, with limited systematic impact, just cherry picking. Others believe disruption is on the horizon. Most FinTechs themselves, a recent report finds, expect that their propositions will not be world shaking.
The executives cite a number of areas in which the phenomenon of FinTech is creating opportunities and challenges for themselves, and their incumbents. One area is a springboard to innovation, through partnerships, 76.7% of respondents view such a working relationship as an opportunity, traditional players (53.7%) also see FinTechs as good targets for acquisition.
FinTechs are, however, also seen to pose a threat to traditional players, with 43.1% of respondents assessing that threat as ‘significant’. The development of FinTechs has also resulted in an impetus for traditional players to innovate, with 62.7% of respondents saying that they ‘are setting the bar higher’. 22.4% of traditional financial services firm executives are convinced that FinTechs can survive on their own.
One area in which FinTechs have been touted as outperforming incumbents is the customer experience. The number of executive respondents that believe financial services incumbents provide a better experience stands at 13.5% for value for money, compared to almost 53% that say that non-traditional FS players are better, while 12.2% say that they offer transparency, compared to 37.8% for non-traditional players.
Executives are particularly concerned about their ability to provide a better user experience, at just 9.5% saying they do better than job that non-traditional players, while 67.6% say that non-traditional players do better. The research finds however, that customers are not in agreement with the perception – they prefer the customer service of incumbents. The area in which traditional players are perceived, by executives, to outperform non-traditional players is security and fraud protection, at 74.3% compared to 5.4%.
When it comes to actually developing innovative new products and services in the financial services industry, traditional executives cite a number of channels that involve leveraging the potential of FinTech entrepreneurs. 60% of respondent firms says that they are entering into partnerships/collaboration with FinTechs, while 59.2% say that they are developing their own in-house capavilities. 38% of respondents are investing in FinTech, while 34.3% say that they are leveraging expertise by partnering with an education institution. Accelorators are being set up by 29.6% of respondents, while 18.6% are using acquisition of FinTech firm(s).
In terms of respondents’ confidence that the strategy employed is likely to address the challenges that FinTech pose, 44% say that their confidence is high, 43% say that they have medium confidence, while 13% has low confidence.
The report notes however, that while respondents are confident about their ability to deal with the innovations developed by FinTechs, few of tradition players themselves feel that they are well positioned to themselves develop innovation within their sector; 2.8% say they have achieved the ideal of embedding innovation into their cultures, and only 9.7% say they are proactively pushing innovation.
The research also sought to identify what factors are holding traditional firms back from implementing innovations and leveraging FinTech capabilities. Top of the list, as cited by 40.3% of respondents, is a ‘lack of conducive culture for innovation’, followed by ‘budgetary constraints’, as cited by 37.3% of respondents. 29.9% of traditional financial services firms say that they face considerable structural conditions focusing on business as usual and other strategic priorities, while 28.4% say that their current legacy systems are too inflexible to integrate innovations and too costly to upgrade.


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A meeting was held by Mr. Dass with the Chambers of Commerce at the Deputy Commissioners’ office on Tuesday.
An Enforcement team has been set up to tackle the price rise of essential items and to visit the major markets across Guwahati, announced Food and Civil Supplies Minister Ranjeet Kumar Dass on Tuesday. The team will be led by the Executive Magistrates of the respective areas.
Regarding that, a meeting was held by Mr. Dass with the Chambers of Commerce at the Deputy Commissioners’ office on Tuesday.
“The households & businesses must not suffer. An Enforcement Team has been set up to personally visit major markets in Greater Guwahati, Kamrup(M) to monitor Price Rise of essential commodities, to work under the ambit of Executive Magistrate of the respective areas”, he tweeted.
The sudden concern from the minister on the issue came after his visit to Pathsala in Assam, where he had reportedly seen a huge gap in prices of wholesale and retail in the market.


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The search is on for the heroes of Preston’s response to the Covid-19 pandemic to light up the city centre this Christmas. The city’s Business Improvement District (BID) has launched […]6 days ago Will you take the Preston Pledge?
A new initiative is asking businesses and members of the public to support the city centre, safely, by taking the Preston Pledge. Preston Business Improvement District (BID), Shop Preston and […]2 months ago Safety action plan aims to bring people back to Preston city centre
Preston City Council has submitted an action plan to Central Government, designed to encourage people to return to the city centre safely as part of the European Regional Development Fund’s […]3 months ago Preston high street recovering post-lockdown
Preston’s high street is performing better than Manchester and Liverpool during post-lockdown recovery, according to a new report. The Centre for Cities ‘High Street Recovery Tracker’, compiled using anonymised mobile […]3 months ago Advertisement Advertisement Preston’s 2020 Christmas Lights Switch On to take place online
This year’s Preston Christmas Lights Switch On is set to take place virtually. Preston BID, the organisers and funders of the Switch On, say the decision to go online has […]4 months ago Preston set to receive £125k to help with safe reopening of high streets
Councillors are set to approve funding to help Preston’s high streets and commercial areas safely open back up. As part of the Reopening High Streets Safely scheme provided by the […]4 months ago City centre set for weekly deep cleans as shops prepare to reopen
Preston city centre is set to be deep cleaned ahead of shops reopening next week. Preston BID (Business Improvement District), an organisation funded by businesses in the city centre, is […]4 months ago Preston streets and street furniture set for a deep clean
Preston’s streets and street furniture are set for an extra deep clean in the fight against Coronavirus. BID’s annual power-washing programme will recommence on 5th April, with the addition of […]7 months ago Most Discussed


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Microsoft Working on Fix for Office Bugs in OS X El Capitan
Since OS X El Capitan was released to the public last week, Microsoft Office users have noticed some serious bugs when attempting to use the software. MacRumors has received multiple emails from people having issues with Office 2016, and there are several threads about the problem on our forums.
Word, Excel, Outlook, and PowerPoint are crashing for many Microsoft users who have installed Office 2016, and Office 2011 users are also noticing problems with Outlook.
Microsoft is aware of the problems with its software and has been responding to customer complaints. In a thread on the Microsoft forums, Microsoft Program Manager Faisal Jeelani said the company is working with Apple to resolve the issues, but said there is no timeline for a fix. Microsoft also gave Computerworld a similar statement:
"We know that some users may be experiencing issues with Office 2016 for Mac running on El Capitan," the statement read. "We are actively investigating the matter with Apple. Until there is a fix, we recommend people install the latest updates to Office 2016 for Mac using Microsoft AutoUpdate."
Customers who are running Office 2016 are running into a wide variety of problems. Some are seeing only occasional crashes with the software, while others are unable to open any Office 2016 apps at all. Many who use Outlook for email are unable to access their inboxes, and this particular issue affects both Office 2016 and Office 2011.
I even did a fresh install of El Cap and then did a fresh install of 2015 Office. The whole office suite just bounces when I try to load a file. The programs freeze when using them and then crazy. I just keep sending the crash reports to Microsoft. I thought it was more widespread but apparently it is just me. I uninstalled 2016 office and went back to 2011.
Microsoft's first support replies came shortly after OS X El Capitan was released, which means the company has been working on a fix for several days now, but it is not clear when a patch might be released. Many customers on the Microsoft forums are growing angry with the company because Microsoft had several months to work out crashing issues ahead of OS X El Capitan's release. Crashes and Office 2016 problems were first reported during the beta testing period but remain unresolved.
Update: A Microsoft spokesperson has told MacRumors that a fix is in the works.
"We know that some users of Office 2016 for Mac are experiencing issues as a result of upgrading to Mac OS X 10.11 El Capitan. We are actively working with Apple towards resolution."


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It has been leaked onto the web the trailer of the latest Marvel Comics film, The Amazing Spiderman. No one knows where it came from and the video was recorded with a poor quality.
Obviously, it won’t be online much time, in fact Sony Pictures have started to delete all copies from the web.
According to the leaked trailer the release date of the film is scheduled for July 3rd, 2012.
Anyway The Amazing Spider-Man trailer will be officially released this week.


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How chickens can impact a community: MCC Run 4 Relief 5k is Aug. 7
WOOSTER – Like running and enjoy chickens? Join the fun at the Wayne County Fairgrounds at 8 a.m. Saturday, Aug. 7, for the 29th annual Run 4 Relief 5K. A 1k run will be held at 7:30 a.m.
Registration is at https://www.ohiomccreliefsale.org under Attractions.
All the registration money will be donated to Mennonite Central Committee (MCC) to purchase flocks of chickens and chicken houses for families in Cambodia and around the world.
When a family has a flock of chickens, they can have eggs for any meal. When the chickens produce more than the family can eat, the eggs can be sold in the marketplace. This allows the family to purchase other foods and supplies for the family.
The Run 4 Relief is just one of the events at the Event Center on the fairgrounds Friday, Aug. 6, and Saturday, Aug. 7. On Friday evening, booths will be open for browsing and purchasing items such as plants, books and Swiss Pantry items. At 7 p.m. singer John Schmidt will perform and there will be stories of how MCC impacts lives around the world.
Saturday morning starts with breakfast being at 7 a.m. Barbecued chicken will be available for lunch. There also will be handmade egg rolls, homemade pie and hand-cranked ice cream. Lemonade, hot corn on the cob, baked potatoes with toppings and grilled sausage sandwiches also will be available.
At 9 a.m. the Event Center will come alive with the sounds of auctioneers selling handmade quilts and wood items and gift packages. The Artisan Market will display handmade dry goods that can be purchased.
There will be a children’s area with activities for children and a train ride for them to enjoy.


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|Bid||751.50 x 1200|
|Ask||751.72 x 3200|
|Day's Range||739.18 - 753.67|
|52 Week Range||351.30 - 900.40|
|Beta (5Y Monthly)||2.00|
|PE Ratio (TTM)||753.45|
|Earnings Date||Oct. 19, 2021 - Oct. 25, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||704.31|
Yahoo Finance's Julie Hyman breaks down Thursday’s business headlines.
San Francisco transport authorities on Thursday raised concerns about the safety record of Tesla's advanced driver assistant system, as the electric car maker prepared a wide release of a test version of the software that works on city streets and highways. The San Francisco County Transportation Authority (SFCTA) also disputed the name of the system, "Full Self-Driving" (FSD) saying it is an advanced driver assistance program, not an autonomous vehicle system. "We are concerned about the safety record of this service and the name of the service as it could be confusing for consumers, and hope DMV, FTC and NHTSA continue to monitor and analyze this issue to protect consumers and the traveling public," she said.
Everywhere we go these days, we are introduced to revolutionary new electric vehicle (EV) products and features: electric passenger and commercial vehicles, charging stations, and driverless pizza delivery cars to name a few. One stock name that has become synonymous with EVs is Tesla (NASDAQ: TSLA).


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NEW YORK ( TheStreet) -- No tech company defines the waiting game better than Microsoft ( MSFT).
The Redmond, Wash. tech giant, on deck to report fiscal third-quarter earnings after the bell Thursday, is likely to repeat the same pattern spun out over the past five or so quarters: A post of solid top- and bottom-line growth, followed by a drop in stock price that lasts for at least a few days.
While some analysts say that investor patience is about to pay off, a lasting pop in Microsoft's stock won't likely hit until the firm shows tangible evidence of overcoming the two big problems perceived by investors: A (tablet?) plan to offset what could be long-term softness in the consumer PC sector and doing a better job of catching up to rival mobile OS brands like Apple ( AAPL) and Google ( GOOG). Despite solid reviews of phones running it, Windows mobile has fueled uneasiness in investors, due partly to the company's reticence regarding just how many Windows Phone 7 handsets have been activated by consumers. In January, Microsoft said that it had shipped 2 million of its phones through December -- to retailers. "Windows Mobile may be a touchy subject in this report given the company's sales claims, which seemed to reflect copies shipped more than actual copies sold," Charles King, principal analyst at tech research shop Pund-IT, said in an email to TheStreet. While Apple and Google regularly supply the numbers of new phones running their software, Microsoft has so far demurred. "Windows Phone 7 is off to a solid start," Bill Koefoed, Microsoft's investor relations chief, said on the conference call with analysts last quarter. He noted that the firm has signed up 24,000 developers to build out the system's apps menu, but that didn't give any sort of picture of Windows Phone 7's reception with consumers or enterprise users. Hope for Microsoft and mobile lies in its just-inked partnership with the world's largest smartphone player Nokia ( NOK), which will see Windows Phone 7 as the primary operating system for its handsets coming sometime in 2012. Research firm Gartner even predicts that the deal will propel Microsoft from its current fifth place to second in smartphone OS market share -- five years from now. The PC Market Conundrum Despite recent research that worldwide PC shipments are falling -- Gartner reported a decline in PC unit growth of about 1.1%, while IDC posted a 3.2% decline -- Intel's ( INTC) robust results last week painted a different picture: Its PC client group registered a 17% year-over-year increase in sales. That's positive news for Microsoft and its core Windows market, where continued enterprise PC spending should offset consumer weakness.


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Op-Ed: The tech industry is eroding copyright law. Here’s how to stop it
Suppose a band spends months making an album in expensive recording studios, and the band’s record label releases the album on iTunes. Imagine that, by the end of the first day, all the music has been posted on YouTube, where it is available for free.
Now suppose that, the following day, the record label files a “takedown notice,” asserting copyright infringement and requesting the music be removed. Within a week, the work is taken down. Two days later, the album appears on YouTube again, posted by a different user.
So begins the copyright holder’s game of whack-a-mole.
The posting of content by users who do not hold the copyright for it is perfectly legal, under the “notice and takedown” provision of the Digital Millennium Copyright Act. It’s legal even when the copyright holder already has filed a takedown notice, as long as the work is posted by a different user. Takedown notices address instances of infringement — individual videos posted to YouTube, say — but they don’t apply generally to the actual content.
The only way to get Internet companies to honor the widely accepted understanding of fair use is to make it law.
YouTube, Google and virtually every pirate site on the Internet invokes the DMCA, over and over, to avoid prosecution for hosting content without permission from the copyright holder. Google received about 2 million takedown notices every day in 2016, according to the Silicon Valley Business Journal.
There is a growing movement to change this. Over the past few years, record companies, musicians’ rights groups and Hollywood studios have been pushing to amend copyright law so that websites like YouTube and Facebook bear the responsibility for keeping bootleg content down, a concept some are calling “notice and staydown.” In this approach, it would be up to the websites — once they have been notified — to remove unwarranted content whenever it reappears.
In response to this movement, many tech companies are encouraging their users to employ the doctrine of “fair use” in order to fight takedown notices. This is a gross distortion of the concept.
Fair use allows for the limited reproduction of content without permission from the copyright holder — emphasis on “limited.” Your local TV station can show a snippet of a football game that was broadcast by another network under fair use. There is no legal statute specifying the maximum length a video or audio clip can be, but it has long been accepted practice that a clip cannot exceed 30 seconds and that it must be quoted in a “transformative” work, such as a remix, a mashup or a hip-hop sample.
This loose definition is widely honored in the TV industry, the music industry, book publishing and academia, among other sectors. Tech companies abet the routine violation of it.
When you post something on YouTube, you can always check a box that says “fair use,” and no matter what it is, the content will go up on the site. It will go up even if you are posting a song in its entirety, and even when you acknowledge that you do not hold the copyright by leaving unchecked a box that says, “I own this piece of content.” Some tech companies are going even further. In late 2015, Google acknowledged that it is providing support to users who employ fair use as a legal defense.
Tech companies have a strong financial incentive to erode copyright law because their businesses grow in part through the recycling and repurposing of content. Copyright holders have an equally strong incentive to protect it. Faced with the deep pockets of the tech industry, copyright holders are fighting a losing battle.
The only way to get Internet companies to honor the widely accepted understanding of fair use is to make it law. Although the current legal definition makes one thing crystal clear — you cannot use a work in its entirety and still claim fair use — it leaves many aspects of the doctrine open to interpretation. The Registrar of Copyrights should codify a 30-second time limit for audio and video clips and require that content be used in a transformative or interpretive way.
With concrete guidelines in place, regulation would have to be built in. For instance, when a user asserts fair use for a work that YouTube identifies as being blocked by the copyright holder, the clip would have to be sent to a human screener for evaluation. If it is longer than 30 seconds or does not appear in a transformative work, the clip would remain blocked. YouTube already has this process in place for screening pornography, ISIS videos and the like.
The ambiguous definition of fair use allows for its continued abuse, and this abuse has become a gateway for the further eroding of copyright law. By now it is well understood that the rise of tech monopolies such as YouTube and Google has hastened the decline of publishing industries. If we don’t move to safeguard copyright law now, there will be no new content to remix.
Jonathan Taplin is the director emeritus of USC’s Annenberg Innovation Lab and the author of “Move Fast and Break Things: How Facebook, Google and Amazon Cornered Culture and Undermined Democracy,” from which this is adapted.
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WINSTON-SALEM, N.C. – Krispy Kreme Doughnuts says it is testing a new machine that will help expand sales of its sweet product into smaller stores.
Krispy Kreme said the machine is smaller than the current conveyor process and cooks and glazes dough prepared at a larger store.
Company officials said Friday the new machine will open sales opportunities in areas that don't have enough population to support a 4,000-square-foot factory store.
The machinery also can be used in malls, sports stadiums, airports and other areas that lack enough space.
Krispy Kreme will look initially to open its own smaller stores or kiosks, said Stan Parker, senior vice president of marketing.
The company will study whether to make the machine available in convenience and grocery stores that now get daily deliveries.
Scott Livengood, Krispy Kreme chairman and president, said the new technology came from two years of research and development.
Livengood said the company is preparing to open test markets for the smaller store concept and will reveal the locations later.
Krispy Kreme now has 750 stores in the United States and the new machine could help expand that number. In the international market, where space is at a premium, the new machine could increase sales.