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Madison - California still leads the nation in milk production, but second-place Wisconsin is slowly closing the gap.
Milk production in Wisconsin was up 5% last month compared to the previous January. That was the highest rate of increase in the nation.
According to the U.S. Department of Agriculture, Wisconsin produced 2.2 billion pounds of milk last month. That’s 97 million pounds more than in January 2009.
California, meanwhile, had a 2% drop over the same period. But it’s still comfortably in the lead, having produced 3.4 billion pounds last month.
The other states with large increases were Washington, which was also up 5%, and Minnesota, which was up 4%.
Nationwide, production dipped one percent to 14.8 billion pounds.
by the associated press via jsonline.com
This week, we’re going fishing at Rushing Waters Trout Farm!
We are all things apple this week on Wisconsin Foodie! We check out Edible Milwaukee’s Apple Sauced Event, Weston’s Antique Apple Orchard, and New Glarus Brewery’s new fruit caves.
We celebrate the 100th anniversary of Cheese Days in Monroe, Wi!
We dine at two farm dinners! First, the Fondy Farm Feast and then at Dinner Service!
This week we return to Door County to check out Door County Creamery and Door County Brewery.
This week on Wisconsin Foodie, we help Gretchen Mead install gardens in people’s as part of the Victory Garden Initiative. Then we come back to see how Concordia Gardens has grown over the season.
This week on Wisconsin Foodie, we find ourselves in Sun Prairie for some amazing pizza’s from Salvatore’s Tomato Pies and Central Park in Madison for the first annual Yum Yum Fest.
This week on Wisconsin Foodie we visit Door County to meet with farmer Tom Lutsey from Waseda farm. Then travel the Wickman House to dine on some products from the farm.
Don’t just travel to Spain, taste and drink your way through it on the 2015 Spain Foodie Tour!
Wisconsin has been honored in Wine Spectator’s newly released 2014 Restaurant Awards


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After months of debate and negotiations, New York’s bill to legalize marijuana has reached a dead end for the time being. There had been increased pressure by lawmakers and marijuana advocates to pass the bill in this legislative session which came to an end on Wednesday.
There had been no consensus regarding the details of the bill, even though the broad aspect of legalized cannabis had gained quite a number of supporters. The lawmakers had a slightly different idea than that of Gov. Andrew Cuomo’s proposed regulatory framework. The decision was stalled on Sunday night due to stubborn negotiations. They reached an impasse on the distribution of marijuana generated tax revenue.
Wednesday Saw End Of Legislative Session As Well As Of The Bill’s Run
There was also a disagreement on the provision allowing retail sales. The lawmakers opted for a provision that would allow localities to opt for the retail selling of cannabis. If this provision is not added, the chamber might withdraw its support. However, Cuomo is firm on an opt-out provision allowing cannabis sales all over the state.
Even after being a priority for Cuomo and continuous pressure by lawmakers, the bill failed to get passed. New Jersey’s effort to pass the marijuana bill also faced a roadblock. After no mention of the bill in the budget presented in April, just last week, new bills were introduced. However, these cannabis bills have higher tax rates and a lower quantity amount that can be used by adults.
The legalization of the bill would have brought forward clear and definite regulations around the cannabis industry. Also, it would have brought in tax revenue for the state. Furthermore, it could have obliterated the criminal charges against those previously convicted for dealing marijuana. Even though this might be a victory for those opposing legalization, it is not permanent, as claimed by Sen. Liz Krueger. The opposition is equally resilient in not letting these policies and regulations through. They are claiming them to be hazardous to the health and safety of the public at large. The battle to legalize cannabis is on, and the road ahead is long.
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BMW reported a significant 55% year-over-year U.S. 7-Series sales improvement in May 2015, the third consecutive YOY increase for BMW’s biggest car. The 7-Series was the only car in its class to record improved May sales in 2015 and is the only car in its class to do so on year-to-date terms, as well.
BMW is set to release a new generation of its 7-Series in the coming months. In the meantime, even with vast sales increases, it’s not nearly as popular in the United States as the standard bearer of the category, Mercedes-Benz’s S-Class.
Click Chart To Expand
S-Class volume is down 5% through the first five months of 2015 but Mercedes-Benz has still sold nearly 9000 copies of its flagship, more than double the number its nearest direct rival, the 7-Series.
Even in 2015, which looks like it may be the healthiest 7-Series sales year since 2007, sales are likely going to end the year down 45% compared with 2002.
You can click any model name in the tables below to find historical monthly and yearly U.S. auto sales data. You can also select a make and model at GCBC’s Sales Stats page. These tables are now sortable, so you can rank large luxury cars any which way you like. Suggestions on how GCBC should break down segments can be passed on through the Contact page.


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Google works to keep its Pixel phone out of the bin
The Australian Mobile Telecommunications Association (AMTA) welcomes Google to the industry’s official recycling program MobileMuster.
MobileMuster, run in partnership with mobile handset manufacturers and network operators Telstra, Optus, Vodafone and Virgin Mobile, provides a free national recycling program for mobiles and accessories.
“The industry is delighted to welcome Google, who launched its Pixel phone by Google last year, to our world class recycling program,” says chief executive officer of AMTA, Chris Althaus.
“The MobileMuster program is formally accredited by the Federal Government as a voluntary product stewardship scheme, so it is great to see new members joining the program as they introduce their products to the Australian market,” says Althaus.
“MobileMuster is an example of industry working together to deliver a robust and sustainable take back program,” says Spyros Kalos, AMRA’s recycling manager. “This is one part of our members commitment to product stewardship.
“MobileMuster ensure mobiles are kept out of landfill and recycled in a responsible, secure and environmentally sound way, placing reusable commodities back into the supply chain,” Kalos says.
Since the program started in late 1998 it has diverted more than 1320 tonnes of mobiles and accessories from landfill for recycling, including more than an estimated 11.9 million handsets and batteries.
With over 96 percent of the materials used in a mobile being recyclable, they can be reused to make new products, avoiding future greenhouse gas emissions, saving energy, protecting our environment and conserving scarce natural resources.
MobileMuster is the only not-for-profit government accredited mobile phone recycling program in Australia and is funded solely by the mobile phone industry’s members Microsoft, Motorola, Samsung, HTC, Huawei, ZTE, Alcatel, Oppo, HMD Global (Nokia), Google, Telstra, Optus, Vodafone and Virgin Mobile.The aim of the program is to keep mobiles and accessories out of landfill and ensure they are recycled safely, securely and ethically. MobileMuster accepts and recycles all brands and types of mobile phones, batteries, chargers and accessories. They provide over 3500 drop-off points across Australia to make it easy for people to recycle. Everything is recycled, nothing is resold and all data is destroyed.
For more information or to find your nearest drop-off point, visit www.mobilemuster.com.au.


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Analyst Sheila Broughton, head of research for Western Canadian-based PI Financial, was pleasantly surprised when Premium Brands Holdings Corp. (PBH-TSX) reported stronger than forecast first quarter results.
Saying the company’s outlook remains positive, she reiterated her “buy” recommendation, “average” risk rating and 12-month target price of $27.
Premium Brands manufactures and distributes branded specialty food products including bread, sandwiches, panini, wraps, pastries, muffins, sushi and meat products including deli and halal foods. The company converted from an income trust to a publicly-traded corporation in 2009. It has manufacturing and distribution facilities in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada and Washington State.
Premium Brands reported first quarter 2014 results for the period ended March 29, 2014, that were ahead of PI Financial’s expectations.
The first quarter was impacted by the rapid inflation of protein commodity costs. These affected sales pricing, margins and the bottom line. Nevertheless, PI Financial retains its positive outlook for Premium Brands and believes the company remains well positioned for profitable growth.
Ms. Broughton noted first quarter 2014 revenue rose 16 per cent compared to a year earlier to $267 million. This included 7.2 per cent organic growth. That total revenue beat PI’s forecast of $260 million.
First quarter retail sales grew 24 per cent to $172 million, including organic growth of 12.9 per cent. Further sales growth to retail customers was also driven by an increase in the currency-translated value of Premium Brands’ U.S.-based businesses.
Foodservice revenue increased 4.2 per cent organically to $94.7 million.
Price increases to counter rising input costs were offset by the Vancouver port labour dispute and poor weather, which impacted demand.
Total Premium Brands’ adjusted EBITDA increased 25 per cent to $15.9 million. This reflected a $4.7 million gain on a sale/leaseback transaction and the higher revenue levels which were partly offset by higher input costs.
Free cash flow of $46.9 million for the past four quarters leads to a dividend to free cash flow payout ratio of 58 per cent.
PI says the outlook for Premium Brands’ Retail business is strong, with organic growth expected to exceed its target range. This will be driven by a continuation of first quarter 2014 factors and the expected completion of capacity expansion projects.
At the same time, Ms. Broughton expects organic growth at the Foodservice division to return to its six per cent to eight per cent target range in the second quarter of 2014, with more normal weather, increased selling prices and the resolution of the port dispute.
PI Financial is forecasting 2014 revenue to increase 9.2 per cent to $1.171 billion. Other estimates include adjusted EBITDA of $82.3 million and net earnings of $23.2 million, or $1.05 a share.
For 2015, PI forecasts 2015 revenue of $1.242 billion, adjusted EBITDA of $92.4 million, and net earnings of $32.2 million, or $1.46 a share.
PI’s 12-month target of $27 represents an Enterprise Value/EBITDA multiple of 11 times, based on its 2015 forecast. (Enterprise value is market capitalization plus net debt.)
Investor’s Digest of Canada, MPL Communications Inc.
133 Richmond St. W., Toronto, On, M5H 3M8, 1-800-804-8846


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Four years ago, longtime Dr. Dre associate Bruce Williams dropped a tell-all book detailing the entire history of Dr. Dre's contributions to the rap game. It covered his days in NWA, his days as the head of Aftermath, and many other events in the Compton producer's life.
Co-author Donnell Alexander recently released some fresh news concerning the book, letting people know that it would be available digitally on November 16. The new digital version will include new developments that have formed since the book dropped in 2008. There was a book release shooting when it first dropped, so info on that is sure to be included this time around.


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GfK’s sales tracking of four key European retail optics markets (Italy, France, Spain and Germany), shows a turnover of €17.6 billion for total year 2016. This is a sales value growth of 0.9 percent compared to the previous year. GfK released the findings at the international MIDO 2017 trade fair in Milan.
GfK’s long-running Consumer Confidence Index has decreased one point this month to -6. Three of the five measures saw decreases in February, and two measures saw increases.
GfK, has released findings showing which vehicle features, from a given list, people see as being ‘very important’ in a vehicle.
After a splendid start into 2017, con-sumer confidence in Germany suffers a minor setback in February. Both economic and income expectations, as well as propensity to buy are expected to decline. The consumer climate forecast for March is at 10.0 points following a level of 10.2 in February.
Poland's 2016 retail purchasing power was approximately €89 bil. Around 43 percent of these funds were spent on food, beverages and tobacco products. Basic supply items – food, clothing, health/hygiene – comprised just under two-thirds of Poland's retail purchasing power. But according to GfK's new study, the amount and distribution of this purchasing power varies substantially from region to region.
KKR voluntary public tender offer for GfK successful
Amazon’s biggest visual production to date, The Grand Tour, shows clear appeal among UK SVOD viewers. GfK’s established SVOD content tracking and analysis finds that the show swept the board versus other titles viewed on Amazon. It was the most viewed title in both November and December 2016, attracting the biggest audience reach for an Amazon show in the UK since GfK’s tracking service began in 2015.
Results of the GfK Consumer Climate Europe study for the fourth quarter of 2016
Continued 4G expansion in China, plus accelerating growth in Russia, drove global demand over the year. Smartphone sales in 4Q16 totaled 391 million units globally, up six percent year-on-year. All regions except Western Europe saw year-on-year growth in 4Q16.
Mobile data exchange company adsquare is making region-based consumer insights from global market research company GfK available on their platform. The combination of rich consumer insights and a real-time mobile platform takes programmatic advertising to a new level.
Campaign Performance Analysis (CPA) will be the first solution available as GfK begins a unique expansion of its GfK Crossmedia Link (GXL) services in China.
1.7 percent organic decline in sales
Adjusted operating income approximately €154 million
Margin 10.4 percent (prior year: 12.2 percent)


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A month is a long time in the world of cryptocurrency. After recording a high of $64,800, Bitcoin, the world’s most popular and volatile cryptocurrency, dived over 50 percent from its high in April to as low as $30,681 on May 19, bouncing back to $37,002 at the days end.
It was not the only one. The cryptocurrency sector experienced mayhem losing over $177 billion in market capitalization on May 19 after Bitcoin and Ethereum reported the largest single day price drop since March 2020 as China banned its financial and payment institutions from providing cryptocurrency services.
As Reuters reported, the fall could have been even larger but for the support of two of the biggest backers of crypto currencies - Tesla Inc. chief Elon Musk and Ark Invest's chief executive officer Cathie Wood. The former tweeted a diamond emoji indicating that bitcoins are safe investments.
Musk’s history with crypto
Musk’s series of pronouncements on cryptocurrency, usually through twitter, have been influencing or triggering price fluctuations.
On March 24, for instance, the Tesla chief tweeted saying that one could purchase a Tesla with Bitcoin. This cheered up the crypto market giving it the assurance that an institutional giant like Tesla is backing the game.
Later, on May 13, Musk has reversed his earlier decision of Tesla selling vehicles in exchange for Bitcoins. This has now sent tremors in the crypto world leading to fall in Bitcoin prices.
The chart below shows the movement in Bitcoin prices alongside Musk’s tweets.
To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.
However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.
Bitcoin is almost as bs as fiat money. The key word is “almost”.— Elon Musk (@elonmusk) February 19, 2021
BTC (Bitcoin) is an anagram of
TBC(The Boring Company)
What a coincidence!— Elon Musk (@elonmusk) March 12, 2021
Tesla is using only internal & open source software & operates Bitcoin nodes directly.
Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.— Elon Musk (@elonmusk) March 24, 2021
Pay by Bitcoin capability available outside US later this year— Elon Musk (@elonmusk) March 24, 2021
No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.
— Elon Musk (@elonmusk) April 26, 2021
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP— Elon Musk (@elonmusk) May 12, 2021
Bitcoin is actually highly centralized, with supermajority controlled by handful of big mining (aka hashing) companies.
A single coal mine in Xinjiang flooded, almost killing miners, and Bitcoin hash rate dropped 35%. Sound “decentralized” to you?https://t.co/Oom8yzGRNQ— Elon Musk (@elonmusk) May 16, 2021
To clarify speculation, Tesla has not sold any Bitcoin— Elon Musk (@elonmusk) May 17, 2021
Credit to our Master of Coin
— Elon Musk (@elonmusk) May 19, 2021


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Twitter has made some changes to give users the opportunity to tweet high res pics – “the option to upload and view 4K images on Android and iOS is now available for everyone,” says the company in an official tweet. To begin uploading and viewing images in 4K, users simply need to update their high-quality image preferences in “Data usage” settings.
Twitter is making it possible for users to add stickers to their Fleets. In a new update, both Android and iOS users will be able to add stickers by simply tapping the smiley face icon on the bottom row of their screen.
“Fleets just got an upgrade,” reveals Twitter in an official tweet. “Now you can express yourself in the conversation with stickers. Add GIFs and Twemojis to a Fleet by tapping the Slightly smiling face icon, on Android and iOS.”
Twitter is also exploring a subscription-based model – called “super follows” – where users can charge followers for access to exclusive content.
“Exploring audience funding opportunities like Super Follows will allow creators and publishers to be directly supported by their audience and will incentivise them to continue creating content that their audience loves,” reveals a Twitter spokesperson.
The social platform’s Head of Product, Kayvon Beykpour says that the exclusive content could include anything from tweets and direct messages to audio conversations and newsletters.


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German government carves out Deutsche Telekom from state-owned postal system in 1990.
Deutsche Telekom makes unsuccessful attempts to gain global heft. A range of partnerships and attempted deals in Europe and Asia come to little.
Deutsche Telekom Chief Executive Ron Sommer makes entry into U.S. market a priority.
Deutsche Telekom buys U.S. carrier VoiceStream Wireless for around $35 billion.
Voicestream has 2.3 million wireless subscribers.
VoiceStream renamed T-Mobile USA.
Deutsche Telekom considers listing or selling T-Mobile as performance lags bigger wireless rivals: AT&T, Verizon and Sprint.
T-Mobile has 34 million subscribers.
U.S. Justice Department blocks AT&T’s proposed $39 billion acquisition of T-Mobile USA.
T-Mobile US, led by John Legere, lists in New York in May after takeover of smaller rival MetroPCS, which Dish Network had approached about a deal the previous year.
T-Mobile’s enlarged business now has 43 million subscribers. Deutsche Telekom retains 66% stake.
Sprint prepares $32 billion bid for T-Mobile but abandons deal after opposition from U.S. antitrust authorities.
Dish Network Chairman Charlie Egen says in August he would be interested in a T-Mobile deal.
T-Mobile and Dish Network are in talks to merge, according to people familiar with the matter.
T-Mobile has nearly 45 million subscribers and a market capitalization of around $31 billion.


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The enthusiasm of Chinese consumers was again visible during the June 18 shopping carnival, and this has played a critical role in promoting the recovery of consumption and shoring up the economy despite pressure from a resurgence in domestic COVID-19 cases and an uncertain external environment, industry experts said.
JD, which initiated the midyear promotional event that officially kicked off on May 31 at 8 pm, said its transaction volume stood at 379.3 billion yuan ($56.5 billion) as of Saturday, an increase of 10.3 percent year-on-year from 343.8 billion yuan in 2021.
Alibaba Group's online marketplace Tmall did not disclose its gross merchandise volume during the nearly three-week-long e-commerce extravaganza.
JD said consumers have shown strong interest in the new generation of products with novel technologies, designs and functions. For instance, sales of gaming laptops priced at over 10,000 yuan grew by 120 percent year-on-year, while the transaction volume of smart vacuum cleaners and air fryers surged more than 300 percent in the same period.
"We observed that Chinese consumers have become more rational during the midyear promotion gala, and are inclined to choose higher-quality and new commodities," said Liu Hui, director of JD's Consumption and Industry Development Research Institute.
Liu emphasized that although the resurgence of the pandemic had an impact on consumption, the June 18 shopping festival injected vitality into the nation's consumer market and unleashed people's purchasing power.
Brand owners and manufacturers are increasingly attaching greater importance to the consumption demand of Generation Z－people born between the mid-1990s and the early 2010s－and offering new tailor-made products especially for them, Liu added.
Wang Yun, a researcher at the Academy of Macroeconomic Research, said major online retailers have stepped up efforts to offer steep discounts and shopping coupons during the midyear shopping festival, which not only stimulated purchasing by consumers that was dampened by COVID-19 flare-ups, but also bolstered the recovery of the economy.
With the pandemic contained more effectively and several policies to shore up consumption, China's consumer market is expected to post growth momentum in the second quarter and gradually recover from the impact of COVID-19, Wang said. She estimated that spending on big-ticket items and service-related consumption will see a strong rebound in the second half of the year.
Sharry Wu, EY Greater China consulting business transformation leader, said "We still see a strong investment appetite from all brands during such an important shopping festival which could contribute to over 30 percent of full year sales."
"People are eager to spend on things they have not tried or experienced before. New brands are now contributing up to 40 percent of e-commerce sales growth, according to recent research, and interest in local fashion brands has outpaced international brands," Wu said, adding that the main challenge will be how enterprises can better adapt to omnichannel consumption.
On-demand retail has become a key driver for offline retailers and the growth of omnichannel brands. Dada Group, a Chinese on-demand delivery and retail platform, said total sales rose 77 percent year-on-year between May 31 and Saturday, while the number of users placing orders through Shop Now, a one-hour delivery service, soared 400 percent compared with the same period last year.


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The number of people using mobile devices across the globe is expected to reach 5.5 billion by 2022, according to a new report.
Forrester is anticipating that mobile users will have almost doubled from 2.8 billion in 2008 to 5.5 billion in five years' time.
In addition, it is expected that more than 50 per cent of the global population will be using a smartphone by 2022, meaning brands need to make sure their content is optimised for mobile and they are focusing a significant part of their marketing strategy on this growing user base over the next few years.
Forrester found that Android phones currently account for 73 per cent of the market, or around 1.8 billion users, followed by Apple (21 per cent) and Windows (four per cent).
The report authors predicted: "Powered by the low-cost smartphone manufacturers in China, Android will retain its dominance in mobile operating systems."


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Mike Novogratz, the billionaire of the Crypto Merchant Bank Galaxy Digital, was critical of two of the currently most popular cryptocurrencies: XRP and Dogecoin (DOGE).
Novogratz told Bloomberg TV on Friday that he won’t jump on the Dogecoin bandwagon despite recent price movements in the DOGE markets. Why? “[Dogecoin] is a memecoin … it doesn’t really serve a purpose, ”he said.
I look forward to meeting you at iFX EXPO Dubai in May 2021 – make it happen!
“It’s reminiscent of GameStop,” said Novogratz, referring to the WallStreetBets (WSB) saga that revitalized the capital markets earlier this year. At the time, WSB investors were pumping millions into GameStop (NYSE: GME) and several other meme stocks to “squeeze” hedge funds on Wall Street. “I would be very, very concerned if a friend of mine invested in Dogecoin at these prices,” he said.
The price of Dogecoin rose significantly over the course of 2021. Part of its surge is directly related to WSB traders: in February, a spin-off group of WSB investors targeted DOGE as their next asset to “pump”. The surge continued when Tesla founder Elon Musk began promoting the currency on Twitter.
As a result, DOGE’s price has increased more than 7300% year-to-date ($ 0.004834 on Jan 1st to ~ $ 0.36 at press time).
“There’s a retail frenzy – it’s not really seen in Bitcoin and Ethereum.”
Additionally, Novogratz commented on XRP, which has increased its price significantly since the start of the year: $ 0.23 on Jan. 1 to $ 1.46 at press time, an increase of around 540%.
“There is some pocket foam and speculation in retail [in altcoin markets]”He said.” XRP, whose parent company is under investigation by the SEC, went from $ 0.40 to $ 1.60 in one month. That doesn’t make any sense to me either, “he said.
“There’s a retail frenzy – it’s not really seen in Bitcoin and Ethereum. On the contrary, money comes from Bitcoin and Ethereum and goes into those other coins for more juice and more excitement.”
FBS Broker updates its trading platform for excellent performance. Go to Articles >>
However, several Twitter users clapped back in the comments under Bloomberg’s post on the interview on Novogratz.
@Nietzbux, an anonymous cryptocurrency enthusiast, wrote: “@novogratz, the man who saved the Ethereum Foundation and bought ETH to fund it and treated it exactly like a security offering, says that XRP is being investigated and therefore is just as overrated as Doge? You, sir, are not an objective party. “
Santiago Velez, co-founder and head of research and development at Block Digital, took the conversation differently. “* Sigh *. Downsize people, there are products that need to be sold, at the right ratings and in due time. First sell the inventory that is (technologically) expired, then sell the next big thing. 10 years of play , Patience (sic), ”he wrote.
*Sigh*. People downsize, there are products that need to be sold, at the right reviews and at the right time. Sell the inventory that is (technologically) expiring first, then sell the next big thing. 10 years of play, patience.
– Santiago Velez (@ Santiag78758327) April 17, 2021
“Is Dogecoin The Pets Of Cryptocurrency Era?”
In any case, each of these statements seems to point to a single fundamental truth: altcoin markets are growing at an unprecedented rate. The reasons for this and the sustainability of the current cycle are not yet known.
In an interview with Bloomberg Wealth, Scott Knapp, Chief Market Strategist at CUNA Mutual Group, compared the current altcoin frenzy with the “dot-com days”.
“We knew something big was going on, a lot of investors were following it hard. It created a bubble, ”he said. “For every Amazon.com, there were 10 Pets.com that went bankrupt. Is Dogecoin the Pets.com of the Cryptocurrency Era? “
Michale O’Rourke, chief market strategist at JonesTrading, said some of the altcoin madness could be due to the stimulus money the U.S. government pumped into the economy in 2020 and 2021, the economy is now becoming even worthless Assets, ”he said.


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ONE of Britain's biggest store chains has already written off Christmas.
John Lewis says it is suffering the worst High Street spending slowdown for 15 years.
Boss Sir Stuart Hampson says trading is "exceptionally harsh" and shows no sign of improving in the vital run-up Christmas.
"The next six months is going to be a very sticky period. There's no sign any upturn, but we just have to cope with it."
The group, which also includes Waitrose, revealed half-year profits fell three per cent to £78 million. That is grim news for the group's 63,000 staff who last year pocketed seven weeks pay in a £106million profit share.
Sir Stuart echoed a speech by British Retail Consortium chairman Michael Wemms at its annual bash.
Mr Wemms said business was bleak with eight of the consortium's last 10 monthly reports showing sales falling.
"Spending has gone into reverse and consumers have clearly lost confidence," he said. And, with trade minister Alun Michael, among the 1,000 VIPs he laid much of the blame at the door of government and the Bank of England.
"If you put interest rates up five times and allow energy and petrol prices to go through the roof, the chances are that a lot of people are going to feel worse off and spend less." Sir Stuart, however, blamed the downturn in the housing market for the "really painful" problems at John Lewis.
Profits at its stores plunged 21 per cent as home furnishing sales fell off a cliff and the firm spent money gearing up for future expansion.
It was bailed out by a 17 per cent increase in profit at Waitrose which benefitted from new stores. Sir Stuart said he would press ahead with plans to open 10 new department stores over the next 10 years at a cost of around £400million.
"Things will turn around eventually and we want to be ready," he said.


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Frankfurt, the monetary investment capital of Germany, can be a metropolis that never rests. With its busy roads, famous skyline, and unique ethnic history, there’s generally anything taking place with this radiant metropolis. No matter if you’re a local or perhaps a guest, remaining up-to-date together with the most recent news and events is crucial to totally encounter everything that Frankfurt is offering. In this particular post, we’ll be featuring several of the splitting accounts and recent activities which can be producing head lines in Frankfurt at the moment.
Frankfurt Reserve Honest Goes Electronic
The world-well-known Frankfurt Reserve Fair was appointed to take place from October 14-18 this year. However, as a result of ongoing COVID-19 pandemic, the managers decided to number a digital-only function rather. This means that initially in its record, guests can participate in virtual book launches, writer speaks, and board chats from around the globe. As one of the largest guide fairs on the planet, this can be large news for literary fans just about everywhere.
New Developments at Frankfurt Air-port
hessen news (hessen nachrichten) International airport is among Europe’s most frantic airport terminals and serves as a main hub for overseas journey. Recently, it was actually announced that building on Terminal 3 has started again following simply being placed on maintain on account of COVID-19 limitations earlier this year. The new terminal will increase capacity by around 21 million passengers per year and is anticipated to be done by 2023. Moreover, ideas for a new high-pace railway station at the airport are underway which can make vacation both to and from Frankfurt a lot more practical.
Green Campaigns Acquire Heart Period
Among Germany’s most environmentally conscious places, it’s no surprise that green endeavours take heart point in Frankfurt today. The metropolis recently released an committed decide to become carbon dioxide neutral by 2050 consisting of buying alternative energy, increasing public transit, and marketing lasting residing. Moreover, the yearly Green Sauce Event – a party of your city’s famous GrüneSoße plate produced from seven herbs – went online this current year with online cooking food classes and contests.
Frankfurt Christmas Market Should go Ahead
The Frankfurt Christmas Industry is amongst the most much loved holiday practices in Germany and attracts countless guests each year. Despite concerns surrounding COVID-19, it was actually fairly recently released how the market should go forward this current year with rigid safety measures set up. Guests can enjoy taking pleasure in conventional pleasures like Glühwein (mulled wines) and Lebkuchen (gingerbread) whilst searching joyful stalls promoting handmade gift ideas and accessories.
Frankfurt Trend Few days Makes Its Very first
In 2021, Frankfurt will have variety to the inaugural Style Full week function which strives to showcase the city’s growing design business. The big event will incorporate runway shows, shows, and training courses presenting both founded designers or higher-and-emerging ability. Having its central location in The european union and track record as a center for innovation and ingenuity, Frankfurt is well-positioned to become main participant inside the worldwide design picture.
Frankfurt is a area that’s constantly evolving and there’s generally one thing newsworthy happening on this page. From significant societal situations much like the book acceptable to system tasks like Terminal 3 with the airport, these busting accounts are shaping the future of Frankfurt as we know it. Regardless of whether you’re interested in literature, sustainability, or fashion, there’s something for anyone with this vibrant metropolis. So keep tuned for more up-dates on what’s taking place in Frankfurt – we ensure you won’t be frustrated!


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Twice a year, skincare brand Supergoop sees sales bump from shoppers using flexible spending accounts to make their purchases. First it’s in the early summer, when people are stocking up on sunscreen. Then it happens again at the end of the calendar year when people are trying to spend down their “use it or lose it” contributions.
Sameer Agarwal, svp and GM of the Americas for Supergoop, said the brand jumps on this trend with organic social media messaging. It also includes information in its payment FAQs to let shoppers know they can use their FSA-linked cards. And it lists products on FSAstore.com to help drive sales for eligible products.
“We always send out very consistent reminders through our various channels to let them know that they’re there, ‘Don’t forget to use their FSA dollars,’” he said. “And it’s also a great opportunity for us to continue to remind them that SPF products are actually really relevant year round.”
Shoppers are getting savvier about ways to spend their FSA dollars, a pretax benefit available to roughly half of the U.S. population, according to the Bureau of Labor Statistics. As more accounts become linked to debit cards, it translates to more opportunities to buy eligible products online, including over-the-counter medications, oral care and first aid kits.
But there’s still a wide gap between what people are putting away and what’s being spent, with as many as 40% of workers forfeiting some dollars. The Employee Benefits and Research Institute reports that there was more than $3.28 billion in FSA contributions across 2.4 million accounts in 2021, the most comprehensive data set that includes accounts for recently available data set. The average account is around $1,200, with a maximum of $2,750. And while health savings accounts, or HSAs, have rollover provisions, FSA dollars expire at the end of the calendar year, though some plans offer a grace period or $500 carryover. EBRI data found that the average remaining balance last year was $455.
In turn, some brands are warming up to the idea to market eligible products to customers. Eyewear brands like Luycd and Pair explain in their FAQs that they accept FSAs, and so does hearing aid company Eargo. Nursing bra brand Kindred Bravely has a dedicated FSA section on its website and explains what breastfeeding products are eligible for full or partial reimbursement.
Other brands with eligible products — like skincare, bandages and massage devices — go directly to shoppers looking to spend these dollars by listing products on FSAstore.com, while Amazon has a carve-out category for eligible products that lets users add their card information. Meanwhile, services and platforms that aim to make the FSA process easier are trying to sign up more brand and get more customers aware about the program.
Taryn Jones Laeben, founder of early stage advisory and investment firm IRL Ventures, said companies face a challenge in getting customers to understand what their FSA funds can be used for, an “awareness gap” that brands must navigate. Jones Laeben’s firm works with multiple wellness and health care companies, including Lululemon’s Mirror. Its portfolio also includes sexual health care brand Odela, which accepts FSA cards, and hormone wellness test provider Veracity, which could be reimbursed under some plans.
“Centering messaging around expiring or unused benefits is a great opportunity to galvanize or incentivize customers to transact,” she said. “There’s a lot of untapped potential for both the consumer and the company.”
She added that, “as customer acquisition costs increased, and the purchasing climate faces increased headwinds, I think you’re starting to see brands look under every rock for fresh ways to convert consumers, and I think this is going to be one of them.”
Part of the complication with marketing FSA-eligible products is that shoppers may not know what they can spend their dollars on. Others may not have an immediate need for a health-related product. But some online programs are trying to change that.
Susan Elliott-Bocassi, vice president of operations, merchandising and planning for Health-E Commerce, which operates the FSAstore.com and HSAstore.com, says the brand aims to stay up-to-date to better explain all that’s available. The websites regularly update eligibility lists to align with IRS rules, and adds new products that it purchases wholesale from brands that can sell out of its marketplace-style store.
Eyewear, sunscreen and menstrual products are some of the items that are most familiar to FSA shoppers. But Elliott-Bocassi said the sites aim to highlight items that they might not realize are FSA-eligible — like foot insoles or heating pads. The “Surprisingly Eligible” category includes devices like massage tools and migraine relievers made by Caring Mill, Health-E Commerce’s private label brand.
“The goal here is education,” Elliott-Bocassi said. “They’re surprised when they come to learn that these are IRS-approved products.”
Making it seamless
For brands that do carry eligible products, the next step is figuring out how to ensure payments are processed. While many FSA holders may have a debit or card card connected to the account, it’s not a uniform practice among providers. That means customers would have to send in a receipt to get a reimbursement.
Jones Laeben of IRL Ventures said increasing access to FSA usage online is part of the “consumerization” of healthcare that the firm works in. “It’s unbelievable how many elements of our health care system are still so antiquated,” she said, “but there are some incredible startups and businesses trying to tackle that so you don’t have to mail in a receipt for a breast pump.”
Obi Ohiaeri, founder and CEO of Binkey, a one-year-old startup that aims to make it easier for brands to accept FSA/HSA payments as well as other benefits like Medicare Advantage, has been working to add more brand partners. To date, it has worked with at least 20 clients. It becomes part of a brand’s point-of-sale by splitting the tender between eligible and non-eligible products, and it can also enable brands to accept FSA/HSA accounts that don’t have debit cards attached.
Overall, Binkey’s clients see a 16% increase in conversions after introducing the service, plus a 48% average order value, as of September 2023.
“People are willing to spend more when they know that they’re saving,” Ohiaeri said. “That’s essentially additional business that merchants wouldn’t have been able to tap into if they weren’t able to accept FSAs and HSAs.”
While there isn’t any comprehensive study looking at what products people are most likely to spend on or how they’re paying for it, EBRI researcher Jake Spiegel said more people are also using FSA dollars via a debit card which facilitates online purchases.
Spiegel said that reducing barriers to FSA spending may yield higher spending, and overall there are more brands talking about FSA than there was years ago. At age 22, he let about $1,000 in an FSA expire without realizing that the rules around how to spend it on something like over-the-coutner drugs.
“The FSA store didn’t exist back then. Amazon’s FSA search filter didn’t exist,” he said. “There’s an increased capacity to make it easier for people to log on and search for FSA-eligible products and using a debit card and making it alit more seamless.”


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Top tips for finding a better deal on your health insurance
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Food & Entertainment
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Local tour company Akaroa Dolphins have made the finals of the prestigious Canterbury Business Awards.
Competing in the 'Champion Customer Experience - Small Enterprise' category, this family-owned enterprise has made it through to the final three, where they are up against two other Christchurch businesses. The winner will be announced on November 25 2021.
The awards recognize excellence, innovation and success of local businesses and judges have also praised the finalists for their efforts handling the Covid crisis while looking after the well-being of their staff.
Caring for their staff and creating a family atmosphere in their business has always been at the core of Akaroa Dolphins business ethos and this is one of the factors that has stood out for the judges.
Part-owner Julia Waghorn said that one of the positive aspects of the Covid lockdowns is that they provided an opportunity for the business to really spend time fine-tuning specific aspects of the business, including staff well-being.
“During Covid, we knew we had to really look after our team. We spent time fine-tuning our wellness strategy and initiating some new ideas.”
“Our team's wellbeing is our top priority, and each day starts with a chance to share our wins and sore points over coffee.”
“We have introduced a wellness programme that focuses on emotional, physical, and cultural wellbeing.
"Our customer service team is trained in all aspects of the business, keeping them fresh and engaged.
"This helps with our culture of having a work-life balance, as team members can swap with one another when needing an extra day off without work pressure and means we can scale up when demand requires it.”
The Customer Experience category of the awards had the largest number of entries ever, so getting through to the final three is quite an accomplishment.
“It was so good for the team morale during these difficult times” Julia added.
All the hard work and planning has paid off for the company, with numerous glowing customer reviews that highlight the unique nature of this small company’s operational model.
“The thing that struck me was that it felt like we were being shown around the harbour by a member of the family”, one reviewer commented.
This is not the first time that the company has been recognized. It won the Tourism Small Enterprise category at the Canterbury Business Awards in 2015. In 2018 Kiwi Bank chose the Akaroa Dolphins for their campaign ‘Business Success Stories’, based on their overall performance as a company.
Consistently reflecting on and refining their business model has been a feature of Akaroa Dolphins and a big part of this has been their commitment to the local environment and community.
Last year the company partnered with Akaroa Area School in its reforestation project at Hammond Point, providing sponsorship and voluntary labour for the project. The company has also assisted Pohatu Penguins with the Korara Little Blue Penguin survey, supported the Banks Peninsula Conservation Trust, and donated $30,000 towards the Akaroa Hospital rebuild, to name just of few.
In an age of mega-corporations and multi-national conglomerates, it is refreshing to see a family business succeed through its passionate commitment to its staff, local environment, and the local community.
Written by Garry Brittenden
Article featured in The Akaroa Mail
Photos by Chalita Aommy Klumjui


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New York-based Giant Realm, which runs sites for male gamer geeks and their ilk, just landed $2 million in financing from VC firm Softbank Capital. That rounds off a $5.5 Series A round. Last month, the company got $3.5 million in backing from Comcast Interactive Capital, Edison Venture Fund and the William Morris Agency.
The startup, whose sites like GiantRealm.com attracted 4.2 million uniques in March, also named industry vet Alan Pearlberg VP of biz dev. Pearlberg was most recently co-founder and COO of online storage co. Elephant Drive.
The funds will be used to boost sales staff and expand the online platform. Softbank partner Jordan Levy will join the Giant Realm board and partner Michael Perlis will be a board observer.


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LYNFIELD, Mass. (Sept. 6)—GreenMan Technologies Inc. has signed an agreement with U.S. Century L.L.C. to be the sole producer of roofing shingles from scrap tires for the San Antonio-based company. U.S. Century's patented FlexShake shingles are stamped from the tread of scrap passenger and light truck tires that are coated and granulated to have a "slate" look. GreenMan initially will make the shingles at its California plant. The firm plans to add shingle lines at other facilities, each generating $1 million in revenue annually, according to Bob Davis, GreenMan president and CEO.
GreenMan to be sole maker of U.S. Century shingles line
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].


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Flagship Food Group adds up to 90 jobs as it expands its frozen food manufacturing in Albuquerque
Industry News | Local News
ALBUQUERQUE, N.M., Oct. 11, 2018 - In response to the company's projected growth in 2019, Flagship Food Group announced today that it will immediately begin adding up to 90 new positions at its food manufacturing facility in Albuquerque. The positions will begin in November and will support the plant's second shift."Flagship Food's expansion signals that Albuquerque's economy is on the rise," said Mayor Tim Keller, "Adding 90 jobs to an already thriving company is no small feat, and these are the types of jobs that Albuquerque needs. Albuquerque is lucky to have Flagship here." In addition, Flagship has announced that Becky Prescott has joined the company as General Manager of the manufacturing facility. Prescott has been a resident of New Mexico for several years and was previously at General Mills. "Our Lilly B's organic burritos, our Hatch Kitchen handheld snacks, and our 505 Southwestern green chile and salsas continue to experience growth in the marketplace, so we are pleased to announce this expansion," said Andrew Bebbington, CFO of Flagship. "Adding Becky to our team further solidifies our commitment to building a first-class management team from top to bottom." "I've watched Flagship and 505 grow over the years and have been proud to see them invest in both Albuquerque and in the New Mexican green chile business. I am excited to join their team," added Becky Prescott. About Flagship Food Group Flagship Food Group is a global, diversified food company serving the retail, club store, and food service channels across a broad array of product lines. Its brands include TJ Farms®, Lilly B's™, 505 Southwestern®, Hatch Kitchen™, Select New Mexico®, Chris & Pitts®, and Su Ming™. It also serves as a valuable supplier to private label customers and provides industry services to food companies through its logistics and packaging divisions. Flagship is headquartered in Greenwood Village, Colorado, and its more than 500 employees serve the company in its key facilities and offices in or near Denver, Los Angeles, Seattle, San Francisco, Albuquerque, Boise, Indianapolis, and Minneapolis. By: PRNewswire
Keith Meyer, NAI Maestas & Ward Senior Director, on the expansion, "When companies like Flagship Foods, Netflix and Facebook choose New Mexico, their businesses thrive and grow."
Jim Wible, NAI Maestas & Ward Director, on the expansion, "We are excited that the increased manufacturing jobs for Flagship Foods will be here in New Mexico. We work to enable our client's expansion plan and will continue to promote New Mexico to be their location of choice"


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We are delighted to see another website launch this week, for the cottage holiday company Imagine Ireland.
Entyce have been working with Imagine Ireland since late 2014, during which time we have been extremely busy researching, designing and developing a new online platform to drive greater online bookings.
As with all our clients, we invest substantial time at the outset to engross ourselves in the business’s values and objectives. We thoroughly analysed Imagine Ireland’s current and target audiences to build a clearer picture as to the demographics and habits of the viewers we wanted to engage with. With this information, we were able to develop a visually inspiring site, that will clearly guide the holiday maker from destination and property, through to the booking stage.
During the website development process, we also created an e-newsletter campaign to ensure that existing clients of Imagine Ireland were informed of the new site launch, and guided through its new features.


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It is not an exaggeration to say that Tiago gave much needed boost to the sales of Tata Motors. Other vehicles of Tata Motors have been registering decent sales, but it is Tiago that set the sales chart of the company on fire.
In June, Tiago found 4,205 takers making it the first model in Tata's stable to exceed the monthly sales of 4,000 units in the past two years. Tata Motors want to make most out of the Tiago's positive response and the company has already started working on at least three new variants. Here are the details.
The next new variant in pipeline is the Tiago with AMT (Automated Manual Transmission). Tiago AMT is likely to make its entry into the market around Diwali. The development of the AMT avatar of Tiago was confirmed recently through a spy shot that showed it being tested on Indian roads. Tata, which has two AMT models in its line-up â€” the GenX Nano and Zest â€” is expected to offer the AMT box in Tiago petrol models. The design of the Tiago AMT will remain identical to other models.
The Tiago Plus will be the go faster version of the Tiago. The hot hatchback avatar of Tiago will be powered by a turbocharged 1.2-litre three-cylinder petrol motor that could belt out a power of nearly 120bhp. Tiago Plus price can be expected between Rs. 6.5 lakh to Rs 7.5 lakh. At that price point, it will India's most affordable hot hatch. Tiago Plus is also expected to feature lowered suspension and stiffer damping. It will also get an aggressive body kit
Tiago Aktiv will be the crossover version of the Tiago and is expected to become the most affordable offering in its segment. The arrival of Tiago Aktiv is expected by the end of 2017. Under the hood, the Aktiv is said to get the same 1.2-litre three-cylinder Revotron petrol and 1.0-litre three-cylinder Revotorq diesel mills that do duty in the regular Tiago hatchback. The Aktiv is expected to come with black plastic cladding around the lower section of the car, skid plates at the front and rear bumpers, bigger tyres and roof rails. The Tiago Aktiv is likely to be made in limited numbers initially and Tata will increase the output after gauging the response.


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AMRI To Follow Spanish Model To Develop Mango Pruner Locally
MULTAN,(UrduPoint / Pakistan Point News - 29th july,2016) -Agriculture Mechanization Research Institute (AMRI) Multan is going to develop a mango pruner on the pattern of a machine imported from Spain by introducing minor modifications for making it suitable for local conditions. Director AMRI Multan,Ghulam Siddiq said this while giving a demonstration of imported mango pruner for mango farmers at an orchard here on Friday,according to a release issued by media liaison unit of Punjab Agriculture department,Multan. Director,Mango Research Institute (MRI),Dr.
Hameedullah, agriculture information officer Naveed Asmat Kahlon,AMRI engineers and scientists Muhammad Iqbal,Mehmood Riaz, Asifur Rahman,Javed Saqi,Atif Iqbal and others were present. Director AMRI said the pruner's import from Spain costs around Rs 3.5 million,but locally manufactured machine would be substantially cheaper.
The machine would be fabricated with some adjustments in the Spanish model to make it suitable for local conditions and it would help farmers prune their mango orchards without extra cost on labour. Once developed at AMRI Multan,the machine would be provided to agriculture tools manufacturers to enable them start preparing it on commercial level,officials said. MRI director Dr.
Hameedullah told farmers that "pruning or trimming" of mango plants improves plants' structure, increases growth, enables food,sunlight,and spray reach all parts of the plants and make application of machines easy for cultural operations in orchards. The practice also supports flower and fruit formation,improves colour and quality of fruit and makes harvest easy, the release concluded.


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China is due to report third-quarter gross domestic product data on Wednesday, and there are fears that the figures will disappoint. But then, nobody really trusts the official figures anyway; so, no matter how good (or bad) they turn out to be, investors will try to look beyond them to guess where the world's second-largest economy is going.
One other area to look at carefully is inflation. The world has been in disinflation mode for so long that a few pieces of news out of China that otherwise would have at least raised interest are now going almost unnoticed. (To be sure, the drama surrounding Brexit also serves to distract attention from China).
The first piece of important news, released last week, is the fact that Chinese producer price inflation went positive for the first time since 2012. You could take this to mean that Chinese factories are confident enough to put up prices for the first time in four years -- which is hardly bad news.
The second bit of news has to do with looking deeper into the trade data. By some metrics, these were far worse than expected, with exports plunging by 10% and imports unexpectedly shrinking in September.
Still, commodity imports held up "rather well," Caroline Bain, senior commodities economist at Capital Economics, said.
She noted that China's copper ore imports were still growing at almost 30% year on year, while coal and iron ore imports were also strong in September. This ties in with PMI data in the month, which showed factory activity expanding, Bain added.
A third ray of light could be coming from the Chinese labor market. Louis Kuijs, head of Asia economics at Oxford Economics, said the demand-supply situation has stayed favorable for employees, with wage increases running at 7% to 8% in the second quarter.
A job market that is tilted in the employee's favor means wages are likely to keep increasing; this would continue to push producer prices higher.
All these developments show that China is likely to export inflation, rather than disinflation, to the world markets for the first time in years.
This would normally be bad news, as it makes things more expensive for consumers, but we don't live in normal times. Major central banks have tried every trick in the book to boost inflation, because it is the only way the massive overhang of debt can be reduced without outright defaulting on it.
The re-ignition of inflation would achieve that goal. Inflation also flatters GDP growth figures, as inflationary expectations make people go out and buy durable goods now rather than later to preempt price increases.
While it is true that persistently high inflation cuts into living standards and lowers purchasing power, for a short while it can deliver a boost to the economy. But what does it mean for investors?
Equities are usually the asset class that does best in inflationary times, while cash and bonds suffer. Among sectors, the financial sector -- which has been unloved for so long -- could finally become attractive to investors again, as banks benefit from higher net interest margins.
One big caveat to all this is the fact that the Chinese currency is depreciating. This could scupper this scenario and even reverse it, as a weaker renminbi exports deflation, not inflation.
A weakening currency may help China's fight to remain competitive for the short term, but it would hurt its main export markets over the long term. Still, with a mountain of debt to service, this is a development China should avoid at all costs. Its policymakers are probably aware of that.
Editor's Note: This article was originally published on Real Money at 8 a.m. on Oct. 17.
Employees of TheStreet are restricted from trading individual securities.


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Another major name is getting into the expedition cruise business.
Silversea Cruises is offering travel advisors the chance to earn bonus commission for new bookings made before the end of February.
According to the survey, 70% of luxury travelers have taken a trip since lockdowns began in March of last year.
Hilton continues to expand its luxury offerings.
Hear what travel advisors have to say about expedition cruising.
The ship is part of a cruise industry orderbook that is currently valued at $10.4 billion.
A new Waldorf Astoria Cancun, the first Six Senses in Rome, and new icons in New York and Chicago round out the list.
Club Med Québec Charlevoix is on track to open its doors on Dec. 3, 2021.
The company, which includes Emerald Waterways, has seen booking volume increase steadily since April, with November passenger bookings up 208% over April.
Luxury cruise line Seabourn is extending its Book with Confidence program through Jan. 31, 2021.


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Ford Motor said on Monday that it was near the finish line in its two-year effort to pare its work force.
The company said it would lay off 500 employees in the United States this week and an unspecified number over the next several weeks over the next several weeks as part of a broader plan to shrink its salaried ranks by 7,000 people, or 10 percent, with the sharpest cuts at higher ranks. Including jobs cut earlier this year, a total of 800 jobs in the United States will be cut by August, the company said.
“Consistent with our goal to reduce bureaucracy, we will have reduced management structure by close to 20 percent,” Ford’s chief executive, Jim Hackett, said in an email to employees. “This will result in annual savings of about $600 million.”
The reductions in the United States include 1,500 jobs eliminated last year through buyouts. The other cuts have been overseas, where the final phase of the restructuring should be completed by the end of August.
Mr. Hackett has been cutting costs in a push to increase profits in the face of slowing sales, especially in Europe, South America and Asia. Ford reported last month that it earned $1.1 billion in the first quarter, about 34 percent less than in the same period a year earlier but better than analysts had expected.
Just three years ago, Ford was considered the healthiest of the three big Detroit automakers. But it allowed management ranks to swell, and was slow to adjust as consumers moved away from cars to sport utility vehicles. At the same time, President Trump’s tariffs on imported steel and aluminum added about $1 billion a year in costs.
Other automakers have also struggled. Ford’s main rival, General Motors, has idled or greatly scaled back operations at four plants in the United States and one in Canada. G.M. aims to trim 14,000 blue- and white-collar jobs.
Jessica Caldwell, an analyst at Edmunds, said Ford had moved aggressively to trim its payroll, but she said it was not clear whether the company had sufficiently changed its operations and culture.
“At this point, I think there’s a lot of groundwork being laid, but they need to keep strategizing to become this newer, more efficient company,” she said. “As for major changes, we aren’t really seeing that yet.”
Under Mr. Hackett, Ford has planned to all but eliminate sedans from its model line in the United States, and to stock up on new types of S.U.V.s and trucks, including a slew of electric vehicles. It is also negotiating with Volkswagen on several joint projects. The companies have agreed to cooperate in pickup trucks and delivery vans and are discussing combining their self-driving vehicle projects.
Mr. Hackett took over as chief executive two years ago as costs were rising and profits were falling. Analysts have criticized the deliberate pace of his turnaround, but investors have rewarded the company since its first-quarter earnings report. Ford shares closed at $10.28 on Monday, down slightly for the day but up from $7.90 at the beginning of the year.


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Google has announced that its connected television program, the Google TV, will be supporting cloud-based gaming service OnLive.
The OnLive cloud gaming service enables users to play a huge selection of console-quality games on devices like tablets and PCs. Now, select Google TV devices like media streaming boxes, Blu-ray players and TVs will be able to play games via OnLive without having to use a gaming console.
“OnLive brings to Google TV users instant on-demand gameplay from a rapidly growing library of the latest high-performance console-class titles, as well exclusive social features such as worldwide massive spectating and Brag Clip videos with full group voice and text chat,” Google announced on Wednesday during the CES 2012 event. “The OnLive Viewer, enabling OnLive social features, is available immediately on all Google TV devices currently in the market and is compatible with standard Google TV remote controls as well as the OnLive Wireless Controller and standard USB game controllers.”
The full version of OnLive and the OnLive wireless controller will work on current and future offerings of Google TV. The OnLive desktop service, which was just announced recently, will also be available in the device. The desktop service delivers a seamless PC desktop, allowing sharing of videos and photos, business presentations and other media applications possible.
This move by both companies will finally offer consumers a better deal than other Internet TV platforms. With the integration of a powerful gaming machine to Google’s TV service, it will give it the edge it needs to stay ahead.


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Having addressed the supply chain issues that plagued it last year, Mercedes-Benz India is also sticking to its original plan to bring 15 new products in the market this year despite the launch of its SUV GLA delayed by almost a month due to fresh surge in COVID-19 cases in April.
"We learnt something in the first wave. We could see how quick the economic recovery was. Yes, the first wave was not as heavy as the second wave but it took only four to six weeks from the peak to a good fourth quarter. Now of course the situation is worse but there is more confidence in the businesses on how to manage it," Mercedes-Benz India Managing Director & CEO Martin Schwenk told PTI.
He further said,"If I look from a manufacturer's point of view, we have also done a lot last year on how to manage. We have also seen that good and strong products help to come back."
Schwenk was responding to a query on if the company is confident of a better performance in 2021 compared to last year when its sales were down 43 per cent at 7,893 units.
"There is also a substantial order bank from last year and we will try to fulfill these orders and that will also bring the volumes, assuming that we don't have heavier lockdowns...but as per our current plan I am confident that we will sell quite a bit more cars than the year before," he said.
Bullish on the market bouncing back by around July provided the pandemic doesn't get worse, he said,"What we really see is the confidence levels are actually better than in the first wave. We would think there is a lot of pent-up demand as well. We have quite a strong order bank and that's a positive thing. We believe as soon as restrictions are reduced and situations improve business will come back relatively quickly."
The company's dealers are also more confident, as customers who are mostly 'business people' have also learnt how to deal with the health crisis despite COVID-19 coming much closer at the personal front of many, he added.
"They are more confident of how they come back into the business. There is already experience of dealing with it (COVID). On the one hand managing the acute crisis and on the other, coming out of the crisis and then stabilising the business again. Most businesses made relatively stable returns last year after the first wave. That gives our customer base, dealer base confidence," Schwenk said.
Add to that, he said the overall economic indicators are looking to be stable despite the severity of the second wave.
"If you look at the GDP you don't see the brutal breakdown we had last year, you see incredible adjustment for every additional week of lockdown. There is no (indicator) that the economic activity will falter completely," he said.
Asked if the company has been able to address supply chain issues, he replied in the affirmative and said what hampered last year was the support Mercedes-Benz India needed from the headquarters to bring experts to prepare for production of GLA in India due to travel restrictions.
"After the first wave subsided, we could bring the colleagues we needed for the ramp up. That was one of the biggest bottlenecks. On the other hand as we are in CKD (completely knocked down) production, we now have the supply for the next coming months. They are either here in India or are in ships on the way. So we don't have a real supply issue in that sense," he added.
On whether the second wave of the pandemic has forced the company to change its original plans to launch 15 products in India, like the GLA has been delayed, Schwenk said,"Honestly, we will roll out as we have planned."
He further said,"I believe we have a chance to come back. We learnt in the first part of the crisis how to manage everything, from the employee side of safety and protection, we had complete lockdown and we didn't have any production. Now we are producing, of course, less than 50 per cent of capacity but we are still producing."
Mercedes-Benz India has so far launched 6 products out of the 15 planned for this year.
Sunday, 26 Nov, 2023
- Sebi OKs Fractional Ownership Framework for Realty Assets
The board of the Securities and Exchange Board of India on Saturday approved a proposal to introduce a framework for fractional ownership of real estate assets. The regulator, however, deferred its plan to make changes to delisting rules.IT’s Not All: MNCs Engineer Shift in Offshore Hiring
The growing number of manufacturing-led global capability centres (GCCs) being set up by multinational companies in India will likely give rise to job opportunities for mechanical, electrical and electronics engineers in the coming years, experts said.Smartphones get Growth Signal for 2024
The Indian smartphone market is expected to grow in 2024 after falling for two years, buoyed mainly by affordable 5G devices and smartphones being given away by parties ahead of upcoming general elections, according to market trackers and industry executives.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
- Communications with Adani Group on over Tajpur project: West Bengal minister
- Air India plane returned to Kathmandu after pilots heard noise during take-off: Official
- Universal Sompo General Insurance records 47% growth in TN under PMSBY scheme
- Private general insurers expand market share to 53.58 per cent in H1'FY24
- Salt in Batteries: Battery giants invest in Sodium-based technology, signalling potential disruption in industry
- Saya Group to infuse Rs 4,000 crore in next three years in Noida, Ghaziabad projects
- Railways readies to save cost and better passenger experience on Vande Bharat trains
- LIC exploring possibility of setting up fintech arm: Chairman
- ONGC charges premium over Brent in oil deals with BPCL, HPCL
- TVS Motor plans to expand electric two-wheeler range over next 1 year


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Third-quarter profits at Citigroup Inc. rose 27 percent, driven by fees from advising on mergers and growth in its consumer bank arm. The New York-based company earned $3.09 billion, or 67 cents a diluted share, in the quarter, up from $2.44 billion, or 52 cents a share, one year ago.
The third quarter of 2000 includes a $15 million charge and $8 million in accelerated depreciation. Last year’s third quarter included a $31 million charge, a credit for the reversal of $41 million in prior charges and $25 million in accelerated depreciation. Revenues rose 15 percent to $16.8 billion in this year’s third quarter.
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Baristas at The Human Bean will begin pouring coffee and other specialty beverages at 1770 Main Street NE in Los Lunas beginning today, December 16th. Customers are invited to come get a first taste of the drive-thru’s offerings, including specialty-grade coffee, real-fruit smoothies, whole-leaf teas, and hot breakfast items to-go.
Local owner of the new Human Bean location, Keith Griego, says the staff look forward to providing above-par products and exceptional customer service — all with a signature chocolate-covered espresso bean on top.
“We are not building a business in The Village of Los Lunas, we came to build a team of local people, that will then build the business that will serve this amazing community,” says Griego.
With a reputation for cheerful baristas and sustainably-sourced coffee, The Human Bean coffee company has grown from a single location in southern Oregon to a nationwide brand over the last 25 years. Drive-thru stands throughout the U.S. are primarily owned and operated by individual franchisees like Griego, who have a passion for bringing “coffee with a smile” to their communities.
“We’re thrilled to bring a new coffee experience to Los Lunas, NM. Giving customers something to look forward to and sharing a special moment with a friendly face, it’s really what it’s all about,” says COO of The Human Bean, Scott Anderson.
Customers can join the feel-good vibes by participating in several fundraising events throughout the year, including the brand-wide Coffee for a Cure day in October and the Annual Food Drive Giveback in August. All of The Human Bean drive-thrus participate in the fundraisers each year, and collectively raise hundreds of thousands of dollars for women’s and men’s cancer prevention and treatment.
All of the money raised by the Los Lunas drive-thru location will stay in the community and be given to a local organization of the staff’s choosing.
About The Human Bean
With a passion for creating happy ‘Human Beans’, the company’s drive-thrus around the U.S. have established a reputation for friendly baristas, high-quality coffee, and innovative flavors. The Human Bean opened its first drive-thru espresso stand in Ashland, Oregon in 1998, and currently supports over 260 locations open or under development in 21 states.
Learn more at thehumanbean.com.


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Batman's nemesis has a new look as Jared Leto becomes the Joker in all his crazy, tattooed glory.
LG's next-gen custom software officially surfaces weeks before the company launches its next flagship smartphone.
Dan Fredinburg, an engineer in Google's Project X division, was among more than a dozen climbers killed in avalanche set off by Nepal's massive earthquake.
Mummies on display at the British Museum have been painstakingly X-rayed in high definition to reveal the layers beneath the sarcophagus.
CNET editor Dong Ngo briefly explains 3D printing and lists a few recently reviewed printers for your consideration.
As "Daredevil" lands on Netflix, we meet the next Marvel superhero to talk Luke Cage, Marvel's web of secrecy, and why actors shouldn't be fanboys.
Frequent travelers, rejoice! A new feature on the Amazon Fire TV and Fire TV Stick called "captive portal access" is now live and works great, allowing easier-than-ever connections to tricky Internet services that require an extra layer of authentication.
Details on pricing and availability are now official for Sony's 2015 televisions, and the company is focusing on 4K and charging a mint for many models. New for many sets is Android TV, while HDR arrives on the flagships.
Disney Research has had a second go at creating a 3D printer capable of creating flexible objects made of soft fibres.
The handset maker reveals even more of its upcoming flagship smartphone ahead of the April 28 debut.


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Jakarta (ANTARA News) – The business of e-commerce in Indonesia, like in many other countries, is now developing, recording a total transactions of US$12 billion in 2014. This year it is estimated to reach $24.6 billion.
The volume of e-commerce transactions in Indonesia is still relatively small, namely about one to two percent of the total retail transactions. It is smaller than the worlds average eight percent, or the 16 percent in South Korea and 12 percent in the United States.
Yet the government is taking an anticipatory step to tackle the rapid growth of e-commerce transactions in the country. It will include it in its 14th economic policy package to be announced in the near future.
Now, various sides, including the relevant ministries/state agencies, are discussing matters on the inclusion of such transactions in the governments Economic Policy Package XIV. One of the issues that is a focus of discussions is related to taxation. It is expected that imposition of taxes would not put too much burden on the businesses.
The government will issue the XIV economic policy package, probably in the next two weeks, according to Coordinating Minister for Economic Affairs Darmin Nasution.
“Perhaps in two weeks. It is still being discussed,” Darmin said in Jakarta recently (October 5).
Therefore, the next economic policy package is expected to sufficiently address the issue.
“E-commerce should not be treated as a general form of trading. The tariff should be lower as it is a fledgling industry, an early adopter,” Industry Minister Airlangga Hartarto underlined while speaking on the sidelines of the launch of a book on “Developing Populist Economy and Winning ASEAN Economic Community” last week.
Indonesian businesses hope that the tax tariff for e-commerce business will be lower than the non-e-commerce industry.
“We hope the government will take sides (with businesses) with regard to the issuance of the Economic Policy Package XIV on e-commerce,” Fredy Ongko Saputro, chairman of the Indonesian Employers Association (Apindo) for East Nusa Tenggara, said.
Apindo hailed the planned issuance of the package to be issued in the near future. Businesses badly need the governments support, particularly on the fiscal system with regard to the issuance of the economic policy package on e-commerce, Fredy said.
“The tax tariff should be lower than non-e-commerce because this is a new industry. We hope the tax traffic would be set at a modest rate,” the Apindo chairman for East Nusa Tanggara, said.
The regulation to be issued would determine the success of e-commerce in Indonesia as it has the potential to guarantee the survival of fledgling businesses using e-commerce, economic observer Agustinus Prasetyantoko said, elaborating the point.
Agustinus is also of the opinion that tax exemption would help boost e-commerce in the country.
“In certain cases, tax could even be abolished during the start-up phase,” he underscored.
Singapore could be used as the reference country to study ways to develop and expedite the expansion of e-commerce. It provides tax facilities and a low tax for start-ups in addition to assistance in the form of access to cheap capital.
Industry Minister Airlangga therefore reminded that the government would have to pay special attention, especially to the fiscal system applicable.
One important point being discussed is tax which should not pose any hindrance in the development of e-commerce, Airlangga disclosed.
The e-commerce market has begun to grow in Indonesia. In 2014, transactions were valued at $12 billion. E-commerce spending in Indonesia was only 1 to 2 percent of the total retail sales as against 16 percent in South Korea, 12 percent in the United States and the world average of 8 percent.
However, it is worth noting that the performance in 2014 represented a significant increase from $8 billion in 2013. In 2016, the value of transactions is predicted to rise to $24.6 billion.
Therefore, many people have predicted that Indonesia would be among the top ranked countries in e-commerce in the future after China and India in Asia.
Meanwhile, the government has prepared a roadmap and it would be issued in the near future, Telecommunication and Informatics Minister Rudiantara said.
“The concerned ministers have initialed the roadmap document and we hope it will be issued in the near future,” Minister Rudiantara stated.
President Joko Widodo is most likely to sign the roadmap document this month, Rudiantara noted. It outlines a human resources development program and the funding pattern for e-commerce, and he forecast that Rp1 trillion could be required.
“The amount of funds involved is big and the plan should be appropriate for the startup. A model of revolving funds could be adopted,” the minister noted.
The roadmap comes as part of the support that the government is extending to e-commerce in Indonesia. By 2020, it is expected to reach a value of Rp130 billion.


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The implementation of value-added tax (VAT) and excise tax added up to 60 percent of.
The number of ladies in the board at Nestle Middle East has ascended to 30.
Hosam Arab, the CEO of Dubai-based style internet business site Namshi, will leave the organization,.
In spite of a few “delicate” years, Dubai’s retail advertise stays solid, as indicated by.
Fawaz Alhokair Group’s Arabian Centers intends to sell 30% of Arabian Centers and rundown the.
German games gear and garments organization Puma scored a critical objective on Thursday by reporting.
Union Coop, the UAE’s biggest consumer cooperative, has uncovered that it is making legitimate move.
Majid Al Futtaim is set to open its first shopping center in Abu Dhabi, My.
Early afternoon, the online business adventure working in the UAE and Saudi Arabia, on Tuesday.


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CIS long steel prices increased over the week to Monday April 26 after customers accepted higher levels in recent sales, sources said.
A strong domestic market in Russia rendered support to local producers, which, therefore, increased their asking prices for long steel products abroad, Fastmarkets heard.
In the middle of last week, one Russia-based producer was offering wire rod for production in May-June at $720 fob Black Sea, while Russian producers increased their offers to $730 per tonne fob early this week, Fastmarkets learned.
The producer increased its asking price amid lively interest from customers in the Middle East, Latin America as well as Africa.
One cargo from the producer was heard sold to a Middle East country at $720 per tonne fob in the second half of April.
*** CIS long steel , Russia
One customer from Europe said the price of $720 per tonne fob was attractive but the quota for Russia-origin material for the second quarter of 2021 has already been allocated.
There were offers for Ukraine-origin wire rod scheduled for production in June due to arrive to Europe at $750 per tonne fob, however, market participants considered these offers to be too high.
A small cargo of Ukraine-origin wire rod was heard sold to Europe at $740 per tonne fob in the second half of April.
Another Russian producer was also looking for $750 per tonne fob for its wire rod on support from strong demand in the domestic market, although no bookings were heard at the sought level.
Material of Belarus-origin and scheduled for production in July-August was available to foreign customers at $710-725 per tonne fob Black Sea on 100% per-payment terms, depending on the tonnage, sources said.
The price was excluded from Fastmarkets’ assessment, however, due to alternative payment conditions and delivery terms than those stated in the company methodology.
*** steel wire rod
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS narrowed up by $10 per tonne reaching $720-740 per tonne fob on Monday April 26.
In the rebar segment, Russian suppliers increased their offers to foreign customers significantly amid the strong domestic market.
One Russian producer offered material at $670 per tonne fob in the middle of last week and increased its asking price to $680 per tonne fob Black Sea on Monday from $630 per tonne last week.
Fastmarkets’ price assessment of steel reinforcing bar (rebar), domestic, cpt Moscow, Russia rose to 60,000 roubles ($800.94) per tonne including 20% value-added tax on Monday from 56,000-57,000 roubles per tonne last week.
Customers that spoke to Fastmarkets said that the price was too high, considering that Turkish material was available at $650 per tonne fob.
No fresh offers for Ukraine-origin rebar were heard in the market with sources reporting one major supplier being well sold out for June rolling and its recent offers heard at $650 per tonne fob.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $650 per tonne fob on April 26, narrowing upward from $628-650 per tonne fob a week earlier.
Material from Belarus was available to foreign customers at $630-640 per tonne fob Black Sea, considering 100% pre-payment, sources said.
The price was excluded from Fastmarkets’ assessment, however, due to alternative payment conditions and delivery terms different to those stated in the company methodology.
این مطلب بدون برچسب می باشد.


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The USMCA Labor Council met for the first time on June 29th. The Council is composed of senior governmental representatives from trade and labor ministries, as designated by each Party.
During the first meeting, the Council discussed the domestic mechanisms, institutions, and procedures that each party is employing to advance and guarantee the fulfillment of the USMCA labor chapter’s provisions in subjects such as:
We note that Mexico still does not have a legal mechanism to prohibit the importation of goods that were produced by forced labor.
Needless to say, the last point takes on special relevance in light of the collective bargaining agreement (CBA) “legitimization” process at the General Motors plant in Silao. This event made evident the need to strengthen the legitimization process as well as to complement with other measures to comply with the labor chapter of the USMCA.
Accordingly, during the meeting, the Mexican government announced that the Ministry of Labor is preparing an update regarding the CBA legitimization protocol, which will give greater powers to inspectors and prohibit the partial recount of votes at the time of electing a new union leader.
As noted in our previous newsletter, two U.S. complaints are active, namely against certain events entailing General Motors in Silao and Tridonex in Matamoros.
News outlets reported that Mexico sent a letter to the United States, accepting a “denial of rights” and to formally initiate the joint “negotiations” to resolve the request filed by the USTR regarding GM’s CBA legitimization process.
This event marks the next step in the process of the RRLM. Mexico and the US will have 10 days to agree on the remedial measures.
Lastly, on the afternoon of the 29th, the Labor Council held a virtual public session, during which workers, employers, civil society organizations, and the general public had the opportunity to discuss matters related to the implementation of the USMCA’s labor chapter.
According to data published by the National Institute of Statistics and Geography (INEGI), in the first five months of this year, the trade balance showed a surplus of 333 million dollars.
The value of Mexican merchandise exports was US$40,798.35 billion in May 2021, which represented an increase of 125.21% with respect to the same period in 2020, the highest increase since 1991.
It’s worth highlighting oil exports, which registered an increase of 137.9%, non-oil exports, and manufacturing exports registered an increase of 125.5% and 134.3% at an annual rate, respectively.
Likewise, it is important to underline that Mexican exports of inputs for the automotive industry, a key industry for the USMCA, had an annual growth of 859%.
Therefore, it is expected that the USMCA will continue to help attract greater investment and boost trade with North America.
On the other hand, imported goods amounted to 40.5 billion USD, which implies an increase of 87.5% at the annual rate.
The 184.1% annual rate increase in oil purchases and the 80.8% annual rate increase in non-oil purchases stand out.
On June 22, the Ministry of Health modified the Agreement that regulates the importation of health inputs and supplies for the correct and timely provision of health services. Said agreement allowed the importation of health inputs with or without sanitary registration in Mexico for health policy and contingencies. This is due to the fact that the sanitary certification of certain foreign agencies was recognized as equivalent, which expedited the process by approximately one-third and thus facilitated the importation.
Now, the new regulation establishes, in essence, that only public health and social security institutions will be authorized to benefit from this scheme to import health inputs, without sanitary registration in Mexico, which are necessary to cover their needs.
Under this framework, the importer must initiate the process of authorization of sanitary registration in Mexico 10 business days after the permit to import without registration is granted. Otherwise, COFEPRIS (the competent Health agency) will not grant a new permit with these characteristics. The agreement also establishes the necessary requirements for such permits to be granted.
VTZ regrets that the same flexibility is not granted to private-sector health care providers, since the General Health Law and the Health Inputs Regulation do not make a distinction between the public and private sector for the importation of medicines and other inputs in cases of contingency or for health policy.
Customs is a source of concern for the current administration, which has had three customs directors so far. On Monday, the President recognized that his administration has not been able to control corruption at customs. According to his statements, synthetic drugs are entering through the port of Manzanillo, Mexico’s most important port, while “anti-corruption” actions are taking place in the Nuevo Laredo customs.
While visiting Manzanillo today, President AMLO made a “general” announcement in his daily press conference that the armed forces will be “in charge” of the customs located in land or ports because they have been poorly “managed”. The specificities of the plan as well as what will be the powers of the armed forces at customs are yet to be announced.
In the words of the president:
“We have taken the decision… that the land and sea customs will be in charge of the Ministry of Defense, and the Ministry of the Navy will be in charge of the customs in the ports.”
This is not the first time that armed forces have intervened in customs or ports. For instance, we recall that the Ministry of Navy took “control” of the Lazaro Cardenas Port and Manzanillo in 2013 and 2014 (news reports in Spanish), respectively. Furthermore, a decree was published in the Official Gazette that authorized the intervention of the navy in the ports in 2014, but their powers were limited to “policing in ports”. Nevertheless, we are aware that during this period international operations, such as exports regarding certain products (e.g. minerals), faced “difficulties” at customs.
Based on past experiences, we wonder whether importers or exporters in Mexico will face difficulties if the operation of customs or ports is indeed in charge of Mexican armed forces.
On Tuesday, Reforma published an article where experts called to review USMCA internally and periodically. Among the experts, Adrian Vázquez, our managing partner, considered that this review would allow to evaluate, for instance, if imports are integrating value chains or displacing national production.
The National Institute of Statistics, Geography, and Information (INEGI) released on Monday the data on Mexico’s trade balance during April 2020. According to the figures, Mexico’s trade balance had a trade deficit of 3,087 million dollars during April. Compared with the same month of the previous year, INEGI reported that Mexico had a surplus of $ 1.51 billion.
This negative monthly performance is, of course, explained due to the measures implemented by the COVID-19 pandemic, both nationally and internationally.
The monthly deficit of the Mexican trade balance is explained by the annual decline in exports of 40.9%, this has been the worst drop in the indicator since 1986. When comparing to April 2019, oil and non-oil exports decreased by 66.4% and 39.4%, respectively.
Among non-oil exports, the following data stand out:
Exports to the United States decreased by 40.7%, while those directed to the rest of the world decreased by 33.4%.
On this, Fernando Ruiz Duarte, general director of the Mexican Business Council of Foreign Trade, Investment, and Technology (COMCE), commented “the April figures were already expected since around 80% of sales abroad are directed to the United States and its economy was practically paralyzed, so it is logical that exports decrease. ” He also called for the need to diversify export markets.
The other noteworthy data is that exports from the manufacturing industry decreased by 41.9%, whereby 79.1% correspond to the automotive industry and 20.9 % correspond to non-automotive manufacturing exports decreased.
Imports decreased by 30.5% when compared to the figures in April 2019. According to the type of goods, consumer goods, intermediate-use goods, and capital goods decreased by 46.5%, 28.1%, and 26.7%, respectively.
Just another friendly reminder that on June 2nd, 2020, the free webinar on “Labor & Trade: Is Mexico ready for USMCA’s Labor Chapter?” will take place organized by the US-Mexico Bar Association, in conjunction with VTZ.
The Panel will be made up of Ricardo Aranda from the Ministry of Economy, Gabriela Peregrina from DeForest Abogados, Olga Torres from Torres Law and will be moderated by our Jr. partner Emilio Arteaga. The members of the panel will discuss the results of USMCA’s labor chapter, the rapid response mechanism as well as whether there is any other labor-related risk to Mexico-US international trade relation.
Register to the Webinar: https://docs.google.com/forms/d/e/1FAIpQLSfFxcD_hJCmCFAGuBhj2YdbYeHU8Gf6el5cKC67x1hYy-gslQ/viewform
Download our newsletter in PDF: Trading Room
As reported in a news portal, in 2019 Mexico surpassed China in the commercial exchange with the US, taking into account imports and exports according to US figures. As a result, Mexico became the main trading partner of the US in 2019; accordingly, since 2005 Mexico has not been in said position. Obviously, this displacement is due to the Chinese and US trade conflict, as well as the growth of the US economy.
This is not a novelty, UNCTAD conducted a study on the effects of the US-China trade war on trade flows last year. In short, several countries have occupied part of the “void” that China has left, including Mexico, Taiwan, Vietnam, among others. See our summary of the UNCTAD report for more details here.
According to the figures from the Department of Commerce, Mexico increased its exports to the US 3.47% in 2019 compared to 2018, while China’s exports decreased by 17%, the above is reflected in the following table:
In this regard, the president of the National Association of Importers and Exporters of the Mexican Republic (ANIEM), Gerardo Tejonar Castro, acknowledged that there was no way for the national industry to completely fill the void left by China and said that these results may be temporary because, on the one hand, China has already reached the Phase 1 Agreement.
Legal Amendments & International Trade
After a series of steps to reform Mexico’s Harmonized Tariff Schedule (MHTS) that included public consultations, yesterday the Commission on Economy, Commerce, and Competitiveness of the Chamber of Deputies discussed the new Law on General Import and Export Taxes (LIGIE), as well as reforms and additions to the Customs Law.
The new LIGIE will implement the sixth amendment of the Harmonized System of the World Customs Organization to improve the identification and classification of the goods. In particular, the sixth amendment addresses the classification of the following goods: fishery products, forest products, anti-malaria, chemicals, and technology advances.
Needless to say, the MHTS has not been revised comprehensively since its creation, therefore, the Ministry of Economy took the task of conducting an exhaustive review. In that sense, it is planned to eliminate tariff items by low trade and, therefore, to compact tariff items, and unfolding tariff items for statistical purposes into 10 digits, which will be called Commercial Identification Number, instead of the current 8 digits.
Mexico will soon update the Harmonized Tariff System (HTS) with the aim to implement the Sixth Amendment to the Harmonized System as a result of Mexico’s commitment as a member of the World Customs Organization. This change to the Harmonized System seeks, in general terms, to adjust the international nomenclature according to the actual trade flows.
Like all other 153 contracting parties to the International Convention on the Harmonized Commodity Description and Coding System, Mexico shall implement the Sixth Amendment to the Harmonized System in 2017. The said amendment refers to the following sectors: fishing, forestry, anti-malaria, chemicals, ceramics, technology, among others.
In addition, the Ministry of Economy will also carry out a holistic review of its current HTS. Consequently, the Ministry of Economy plans to eliminate tariffs with low trade flows as well as to create and unfold tariffs for statistical purposes (10 digits instead of 8).
Given the above, the Ministry of Economy has opened Public Consultations to generate a “new” HTS, providing the opportunity to receive comments from all other sectors that were not included in the Sixth Amendment.
Public Consultations will conclude in February 10, 2017, and Vázquez Tercero & Zepeda is available to advise and assist companies that are interested in this matter. For further information in how we can assist your company, please feel free to contact Ms. Verónica Vázquez (email@example.com ).


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San Angelo Packing, a cattle slaughter and meat processing company, closed in March after severe drought conditions led to declining supplies of cattle. Caviness Beef, a processor with facilities in Hereford and Amarillo, Texas, signed a letter of intent to acquire the packer. But the company decided against the deal after conducting due diligence.
Trevor Caviness, president, told theSan Angelo Timesthat part of the due diligence was to run the company. But after five weeks, Caviness officials concluded that San Angelo Packing wasn't a good fit and stopped operations on May 30.
Approximately 200 workers lost their jobs.