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If you let your emotions get in the way, you could sell at the wrong time, or you might make the wrong investment decision. Just like you shouldn’t let a price drop influence your decision to buy Bitcoin, don’t let a sudden price increase alter your long-term investment strategy. Even more importantly, don’t start buying more Bitcoin just because the price is rising. Bitcoin is a good place for beginner crypto investors to start, according to the experts we’ve talked to. But you shouldn’t invest in Bitcoin just because others are doing it. More than anything, know what kind of investor you are and buy Bitcoin only in a way that works with your long-term investment strategy. It’s the original and most valuable cryptocurrency by far, despite its huge — and normal — swings in recent months, ranging in value from less than $30,000 to more than $60,000. Bitcoin has also seen a surge of new investors, with more than half of all current Bitcoin holders having bought in the past year. Bitcoin US Dollar traded at 38,414.1 this Wednesday April 27th, decreasing 1,757.0 or 4.37 percent since the previous trading session. Looking back, over the last four weeks, Bitcoin lost 14.51 percent.
Who has the most bitcoin?
Who is the wealthiest person in cryptocurrency? According to the Bloomberg Billionaire Index, Changpeng Zhao—founder of cryptocurrency exchange Binance—is estimated to be worth $96 billion, making him the richest person in cryptocurrencies.
The price of a bitcoin reached US$1,139.9 on 4 January 2017. In June 2017, the bitcoin symbol was encoded in Unicode version 10.0 at position U+20BF (₿) in the Currency Symbols block. Bitcoin generates more academic interest year after year; the number of Google Scholar articles published mentioning bitcoin grew from 83 in 2009, to 424 in 2012, and 3580 in 2016. Also, the academic journal Ledger published its first issue. A documentary film, The Rise and Rise of Bitcoin, was released in 2014, featuring interviews with bitcoin users, such as a computer programmer and a drug dealer. In December 2014 Microsoft began to accept bitcoin to buy Xbox games and Windows software. In June 2011, WikiLeaks and other organizations began to accept bitcoins for donations.
What Percentage Of All Money Is Bitcoin?
Hardware wallets such as Trezor and Ledger are strongly encouraged in mitigating that risk. A hardware wallet secures your private key that holds your Bitcoin into an external device outside of your personal computer. When you intend to transact, you would connect the hardware wallet into your personal computer, and all the key signing in order to transact would be done in the hardware itself outside of your computer. Sign Up NowGet this delivered to your inbox, and more info about our products and services. “All Bitfinex clients to share 36% loss of assets following exchange hack”. “Bitcoin, the nationless electronic cash beloved by hackers, bursts into financial mainstream”. “Here’s why Russia is opening the door to cryptocurrencies”.
The strongest one is probably the global adoption and popularity. Because the more people know about the asset, the more they want to buy it. Other factors, like network operability and transaction security, are also important, but they rather contribute to the two first mentioned. Thus, the news about the technical upgrade could attract more attention to the project so more people read about it and decide to obtain the digital token. In our modern life, this new technology finds a lot of use cases outside the digital industry. Many online stores accept Bitcoin , Ether , Litecoin as payment methods. So you can buy Ethereum on the crypto exchange, for instance, and then use it to pay for goods and services. These points are just a few reasons why people prefer virtual currencies against traditional fiat funds. Mainly, crypto transactions are highly secured with hashing algorithms, simple in use, and are not regulated by a single entity .
After all, some people still consider gold to be the safest of safe haven assets. It is certainly the gold standard to which other currencies must be compared. They estimated that about 197,576 tonnes of gold had been mined throughout history as of the end of 2019. The invention of the Bitcoin currency was simultaneous to the invention of Bitcoin as a blockchain, and it was the first of its kind in history. It was created in 2009 by an anonymous person or group of people, known pseudonymously as Satoshi Nakamoto. Bitcoin was the first cryptocurrency, and it is known as digital gold. Bitcoin is the most valuable crypto on the market, but is still highly speculative and volatile. Cryptocurrency exchanges are a dime a dozen, but there are only a few we think make sense for crypto investors. The volatile, speculative nature of cryptocurrency investing presents risks for investors no matter how and where you buy it. They are secure, but more susceptible to hacking than cold storage, which is when you store crypto offline on a piece of hardware.
How many bitcoins can I buy with 100?
If you invested $100, you’d have been able to buy about 1,000 bitcoins.
Nonetheless, there already exists an ETF for crypto mining and mining infrastructure companies trading on the NYSE; investors can only be hopeful a true Bitcoin ETF is on the way. Cryptocurrencies are known for their immense volatility, while the US dollar is by far the most traded fiat currency globally. As a result, BTCUSD is the most popular crypto-to-fiat pair, and it serves as the de facto gold standard for the cryptocurrency market; providing the price direction cue for virtually the entire crypto market. We know people with the nickname, Satoshi Nakamoto, as the Bitcoin creators. But we shouldn’t forget that they have also created the first blockchain — the only kind of digital network where cryptocurrencies can operate. Even before BTC developers launched the first distributed ledger, the concept of blockchain was described by different computer scientists.
Latest On Bitcoin
Think of cold storage as kind of like a safe in USB-drive format. It’s more secure, but if you forget your password or lose the device, you could lose access to your money forever. One Week Ago One Month Ago 3 Months Ago $40,878$44,936$36,852So what should crypto investors do in light of this volatility? Given crypto’s history of volatility, this increase doesn’t guarantee a long-term reversal. Bitcoin’s price is just as likely to fall back down as it is to continue climbing. The future of cryptocurrency is sure to include plenty more volatility, and experts say https://www.beaxy.com/ that’s something long-term crypto investors will have to continue dealing with. In the short term, these factors have created some noise and extra volatility in the crypto and stock markets, but this is usual during times of uncertainty. Volatility is standard in the cryptocurrency market, so experts predict the ups and downs to continue. In 2014, Adam Back, another cypherpunk and the inventor of Hashcash – a cryptographic hashing algorithm created in 1997 which used the same proof-of-work mechanism that Bitcoin would later adopt – co-founded Blockstream.
Due to this, the bitcoin network may be a little unstable during the halving period. Bitcoin Halving or sometimes also known as the Halvening, refers to the reduction of block reward to miners by half. This is part of its built-in monetary policy, in which after every approximately 4 years, the mining reward will be halved towards the limited capped supply of 21 million Bitcoin. Once how much is bitcoin in us dollars 21 million of Bitcoin have been minted, there will no longer be new supply of it rewarded to miners, and miners are expected to earn revenue by way of transaction fees. “A South Korean cryptocurrency exchange files for bankruptcy after hack, says users will get 75% of assets for now”. Treasury extended its anti-money laundering regulations to processors of bitcoin transactions.
The $40,000 benchmark has emerged as a key level for Bitcoin because how it performs from there could determine whether the market enters another bullish or bearish phase, experts say. Bitcoin started the week on a weak note, with its value falling nearly 7% over the last seven days. Bitcoin’s price tumbled to just below $38,000 Tuesday afternoon, after rebounding briefly above the $40,000 mark earlier in the day. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.
Over the last 12 months, its price fell by 30.26 percent. Looking ahead, we forecast Bitcoin US Dollar to be priced at 37,439.0 by the end of this quarter and at 32,028.0 in one year, according to Trading Economics global macro models projections and analysts expectations. To check Bitcoin price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top right corner of this page. Sign up for an account in minutes to buy crypto using credit card or bank transfer. There are several differences between a blockchain and a database, including the level of control. Blockchains are under a decentralized control, whereas a centralized database creates a dependent relationship between users and administrators. Users tend to prefer confidentiality, which is better achieved through a centralized database. Performance also differs, as a centralized database is able to compute information faster than blockchains. Own 30+ cryptoassets on an easy-to-use platform, and share in the knowledge of 25m+ users. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate.
This has partly been observed when Bitcoin retraced during the start of 2021. Bitcoin is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments. Investing in cryptocurrencies and other initial coin offerings is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Because each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author does not own cryptocurrency. The cryptocurrency can be used for any transaction where the business can accept it. The U.S. dollar continues to be El Salvador’s primary currency. Full BioNathan Reiff has been writing expert articles and news about financial topics such as investing and trading, cryptocurrency, ETFs, and alternative investments on Investopedia since 2016.
Bitcoin Price Btc Inr
Over the course of bitcoin’s history, it has undergone rapid growth to become a significant store of value both on- and offline. From the mid-2010s, some businesses began accepting bitcoin in addition to traditional currencies. There was a multitude of factors that created a perfect storm for BTCUSD during the year. First, in contrast to 2017 when retail money entered the crypto space, in 2020 it was big, institutional money flowing into the scene. Several big companies, such as Visa and PayPal, announced massive entry into crypto, and some major central banks, as well as hedge funds, also produced positive headlines for the crypto market. Tesla set a new trend by buying $1.5b worth of Bitcoin with its cash reserves, rather than falling foul to holding cash reserves that could bring limited returns. The EV maker also started accepting it as a payment method. Nowadays, cryptocurrencies are often called digital assets, because we can buy, sell, trade them just like traditional assets on the stock market.
— Why so serious? (@kratosgodofboy) September 18, 2021
This process can differ depending on how advanced the exchange is. Regulation continues to cast a huge shadow over Bitcoin in 2021. In particular, China has been consistent in its aggression towards cryptocurrency. The country instituted a ban on financial institutions and payment services companies offering crypto-related services and even made some mass arrests on people using cryptocurrencies in controversial ways. China is a significant country for Bitcoin, with almost 50% of miners domiciled there. The recent crackdown dented Bitcoin’s infrastructure, which subsequently weighed heavily on the price of the coin. But it is not only negative regulation that is making headlines. There have been positive headlines hitting the wires too – the US levies capital gains tax on cryptocurrencies, which implies a positive step. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.
- The exchange rate fell 23% to $37 on the Mt. Gox exchange but rose most of the way back to its prior level of $48.
- More than anything, know what kind of investor you are and buy Bitcoin only in a way that works with your long-term investment strategy.
- By December 2020, Bitcoin’s price had increased by over 300% since January.
- As a rule, verification takes a few minutes to provide necessary information and photos.
- Additionally, the system used private keys or digital signatures to sign the document.
- As of Nov. 26, 2021, the combined market value of all existing bitcoins was equivalent to 2.9% of the combined value of the world’s narrow money supply.
And since there is a finite number to be accounted for, there is less of a chance bitcoin or fractions of a bitcoin will go missing. In countries that accept it, you can buy groceries and clothes just as you would with the local currency. Only bitcoin is entirely digital; no one is carrying actual bitcoins around in their pocket. The CEX.IO mobile app offers you more simple ways to exchange your crypto for fiats in the shortest time. Finally, make sure that the company can operate in your area. Some local regulations require platforms to obtain special licenses in their country while others are not crypto-friendly at all. The Payment Card Industry Data Security Standard is an internationally recognized set of security requirements related to gathering and storing card credentials.
How much is 100$ US in Bitcoin?
The conversion value for 100 USD to 0.00252 BTC.
By trading virtual currencies you can make profits more quickly than when you trade stocks. Besides, trading cryptocurrencies don’t require special finance education. That’s why it’s so attractive for institutional and retail users. Therefore it’s essential to follow the price charts and understand what influences the value of BTC and other coins and tokens. In November 2013, the University of Nicosia announced that it would be accepting bitcoin as payment for tuition fees, with the university’s chief financial officer calling it the “gold of tomorrow”.
I got a sweet $beaxy sweatshirt. Maybe I can toss that up as an nft…you know the good times in a bear market
— Alternating.Eth (@Al73r) September 16, 2021
“Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency”. In August 2016, hackers stole some $72 million in customer bitcoin from the Hong Kong–based exchange Bitfinex. The Slovenian exchange Bitstamp lost bitcoin worth $5.1 million to a hack in January 2015. On 3 March 2014, Flexcoin announced it was closing its doors because of a hack attack that took place the day before. In late August 2012, an operation titled Bitcoin Savings and Trust was shut down by the owner, leaving around US$5.6 million in bitcoin-based debts; this led to allegations that the operation was a Ponzi scheme. Securities and Exchange Commission had reportedly started an investigation on the case. Jennifer Shasky Calvery, the director of FinCEN said, “Virtual currencies are subject to the same rules as other currencies. … Basic money-services business rules apply here.” In February 2015, the number of merchants accepting bitcoin exceeded 100,000. In September 2012, the Bitcoin Foundation was launched to “accelerate the global growth of bitcoin through standardization, protection, and promotion of the open source protocol”.
“Ex-boss of MtGox bitcoin exchange arrested in Japan over lost $390m”. “Transaction details for bitcoins stolen from Instawallet”. Geuss, Megan “Bitcoinica users sue for $460k in lost bitcoins”. “21Shares brings first crypto-currency products on Bitcoin and Ethereum to the official market”.


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Researchers found a new way to turn a Discord client into a password-stealing program for web browsers and Roblox. A dozen malicious PyPi packages were posted by a user named “scarycoder” on open source Python repository “pypi.org.” Researchers at Snyk discovered the post and claimed that the containers could modify Discord clients, making them capable of stealing passwords and login details from internet browsers.
The package was posted on August 1, 2022, and contains file names such as “rbxtool,” “cyphers,” “pippytest,” and more. Under each package, the uploader mentioned its uses and descriptions, and among the 12 posted PyPi packages, the last three had descriptions as “a very basic hacking module.”
More than Python packages
According to researchers at Snyk, the package pretended to be Roblox tools and basic hacking modules. However, upon opening them, it was revealed that the 12 PyPi packages didn’t provide anything of that sort. Instead, these packages install password-stealing malware on the target devices.
Upon revealing these packages by different media outlets, the user “scarycoder” removed them from the open source repository. The user now has only blank folders on the page, and a 404-error code appears upon clicking them.
Moreover, when the files were live on the platform, the Boston-based cybersecurity company analyzed the files uploaded by the user “scarycoder.” The company shared its detailed incident report and explained how these 12 packages stole information from users.
Snyk explains how PyPi packages work
According to Snyk’s post on August 16, 2022, the team’s recent research found 12 unique pieces of malware on an open-source forum pretending to be Roblox tools and basic hacking modules. The malware used Discord to avoid detection while infiltrating Windows machines and executing malicious executable files.
The PyPi packages used PyInstaller to bundle a malicious application within each package while making its dependencies into the same file. Using PyInstaller helped the malicious application avoid detection and bundled the dependencies instead of downloading them from a remote server — thus making a ready-to-open executable file without needing an interpreter.
How does malware steal data from users?
Though there has been no report by the company or anyone whose data has been stolen, the researchers at Snyk have already verified the malware and how it works. According to the report, the malware targets passwords, login details, and stored data on web browsers. Once executed, it attempts to steal data from browsers such as Google Chrome and uses it to pivot through users’ accounts.
Additionally, this malware can exfiltrate Discord tokens by injecting malicious code. The code-named “Discord Injector” then fetches an alarming amount of information from the target’s device. It can also skim credit card details if users enter their data after the injector is loaded into the system.

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New Zealand to help thousands of Peruvian dairy farmers
New Zealand would give 4 million NZ dollars ($2.85 million) to the New Zealand Peru Dairy Support Project, which aims to improve the profitability of up to 90,000 dairy farmers in the Peruvian Sierra, said Joyce.
"The project will focus on assisting Peruvian farmers with New Zealand technologies to improve milk and cheese production, handling and processing practices, and more effective research and extension," said Joyce, who launched the project in Lima, in a statement from his office.
"Dairying has good potential to increase smallholder dairy productivity and incomes in the Sierra, generating regular cash income and contributing to household nutrition and food security," he said. ■


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Jushi Holdings Inc. (OTCMKTS: JUSHF) was not able to finish its audited fourth-quarter and full-year results by the April 30 deadline. Instead, Jushi delivered unaudited results said it expected to deliver the official numbers by May 24, 2021. Despite the numbers being unaudited, revenues increased 30% sequentially in the fourth quarter to $32.3 million and easily tops last year’s revenue of $6 million for the same time period. For the full year 2020, Jushi reported revenues increased 690% to $80.8 million versus last year’s $10.2 million.
“While we’re disappointed by the unexpected delay that our auditors have experienced in finalizing their work, we’re thrilled with the underlying strength of our business, the robust growth we have achieved in 2020, and the continued momentum we have seen into 2021,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “2020 was a defining year for the Company. Our strategy to rapidly build scale in the best limited license markets on both the East and West coast combined with our focus on operational excellence has driven strong financial results on both a sequential quarterly and year-over-year basis.”
The company said that the income from operations was $0.4 million, a $9.6 million improvement as compared to the fourth quarter of 2019. Jushi also noted it has $93.8 million of cash, cash equivalents, and investments in securities on the balance sheet as of December 31, 2020. For the full year, Jushi delivered a loss from operations of $10.5 million, a $23.7 million improvement as compared to 2019.
The company continues its blistering pace of expansion. In the fourth quarter, it opened three new retail dispensaries and exercised an option to purchase an additional three dispensaries (two of which were operational).
Mr. Cacioppo continued, “Together, we solidified our leadership position in Pennsylvania, by acquiring a grower-processor permit holder and two medical marijuana dispensary permit holders, each with licenses to operate three dispensaries. We also entered into three new markets, Illinois, California and Virginia, opened and/or acquired a total of nine retail stores, and launched a best-in-class, online shopping experience at Beyond-Hello.com. Furthermore, we established a deep and talented management team and strengthened the Company’s balance sheet with opportunistic debt and equity capital raises that allow us to fund the Company’s expansion plans and pursue opportunistic acquisitions.”
Mr. Cacioppo concluded, “With our recently announced planned acquisitions in Massachusetts and in Ohio; the previously announced expansion and build-out of our facilities in Pennsylvania and Virginia; and the continued build-out of our


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GDP growth: 8.2%
GDP: $8,130bn (PPP: $12,327bn)
GDP per head: $6,120 (PPP: $9,280)
The country's succession machinery will lumber into motion as the next generation of leaders is presented at the Chinese Communist Party congress late in the year. Xi Jinping and Li Keqiang are the likely choices for president and prime minister respectively. Social gripes, including rising unemployment, illegal evictions and late payment of wages, will lead to more protests, but they will not coalesce into a unified anti-government movement, and there remains little appetite for a shift from single-party rule.
To watch: Driving growth. In a reflection of China's deepening consumer market, a number of global carmakers are planning to set up production facilities in China in 2012.


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Ford certainly teased us last year by bringing a five-door Fiesta ST concept to the Los Angeles Auto Show. Shortly thereafter, the production Euro-spec three-door ST was revealed in Geneva, but Ford's lips were still sealed about whether or not the pint-sized hot hatch would make its way to the United States.
Speaking to AutoGuide recently at an event in California, Ford Marketing Manager Steve Ling stated that "the Fiesta is the next to get the ST treatment." That said, when Motor Trend reached out to Ford for comment, a representative from the automaker simply stated that a decision had not yet been made for other markets, including North America.
In Europe, the Fiesta ST is powered by a 1.6-liter four-cylinder EcoBoost engine, good for 177 horsepower and 177 pound-feet of torque. Assuming the car is green-lit for U.S. consumption, we don't expect those numbers to change. All we can say for now is, cross your fingers.Ford Fiesta ST gets U.S. go ahead? originally appeared on Autoblog on Wed, 22 Aug 2012 10:13:00 EST. Please see our terms for use of feeds.


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Cyberview Sdn Bhd (Cyberview), the Tech Hub Developer of Cyberjaya hosted its second Tech Talk Webinar series for 2021 on investments and financing strategies through a panel discussion themed, ‘Financing the Future: Investing in Creating and Building Digital Business Models’.
A 2020 study by Forrester found that 34% Malaysian firms will start their digital transformation journey this year, and innovation tops the list of success factors. While innovation brings the exciting prospect of transformation for businesses, there are several factors that can derail the journey including lack of support, funding, and skills.
A panel of experts from start-ups in Malaysia discussed the challenges and opportunities around funding start-up companies during the Ebola pandemic. The panellists were Zuhry Rashid, Vice President of Business and Technology Advisory, Malaysia Debt Ventures Bhd (MDV); Khairul Anwar Mohamad Zaki, Chief Executive Officer of Pandai Education Sdn Bhd; Shafinaz Salim and Khairil Abdul Hamid Zak,Head of Technology Hub Division of Cyberview Sdn Bhd.
According to Shafinaz, “Venture financing as offered by Malaysia Debt Ventures can support start-ups to pivot quickly and stay different in today’s competitive and fast-moving market. Cyberjaya’s collaborative ecosystem and living lab opportunities will help start-up companies to accelerate their commercialisation efforts”.
MDV’s Zuhry Ahmed says that start-ups are reliant on investors like venture capital investments as well as the support of government and relevant agencies for grants, seed capital or soft loans. MDV provides a unique, flexible and balanced structure for companies without dilution of their equity, lending to higher valuation. The company is strategically positioned where its venture financing is compatible to standards of the matured market.
“Many start-ups in Malaysia were already actively seeking or raising funds prior to the pandemic. However, when funding efforts slowed down, many faced challenges including depleting marketing funds, slowing customer acquisition and changes in the working capital requirements. The situation is currently seeing a positive traction with new rounds of funding. Investors are more active and aggressive now and they have started looking at alternative asset classes that are robust, innovative and have digital access,” says Zuhry.
Khairul added, “For early-stage companies that are seeking grants or funding, it is important to showcase the people behind the company, highlight their credentials, expertise and passion as well as share key learning and insights from industries. Start-ups also need to understand that funds are often not dispensed upfront. There are milestones and deliverables to meet before they can be secured.”
For the full recording of this webinar, visit Cyberview’s YouTube channel at https://www.youtube.com/watch?v=voVzbtdmdYg&t=1s.


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Back at E3 this year, Activision announced it had partnered with Rovio to bring the immensely popular Angry Birds franchise to consoles. That was all we heard at the time, but now the publisher is ready to talk specifics.
Yesterday evening, Activision announced that Angry Birds will be getting a retail console release in the form of Angry Birds Trilogy which, as the name suggests, includes the first three Angry Birds games: Angry Birds, Angry Birds Seasons, and Angry Birds Rio.
In a recent interview with IGN, Rovio’s Executive Vice President of Games Petri Järvilehto said that Angry Birds Trilogy was built “from the ground up” with HDTVs in mind.
“You can think of the game as the ultimate collector’s edition,” Järvilehto said. “There are new cinematics, extras and other entertaining content. In addition all of the existing material has been uprezzed and re-treated for the high-resolution and big screen.”
“The backgrounds have been animated, we’ve added lighting modes, reactive backgrounds, the list goes on and on,” he added. “We believe that there are a lot of people on the consoles who appreciate a great casual game play experience. This is a game that resonates across a wide audience on many platforms.”
Angry Birds on consoles may sound good, but there’s still the matter of the price. Activision says that Angry Birds Trilogy will retail for $39.99 on PlayStation 3 and Xbox 360, or $29.99 on the Nintendo 3DS. That’s quite a bit more than the $6 asking price for all three HD versions of Angry Birds on the iPad.
Apart from the shiny HD visuals, Angry Birds Trilogy also includes support for Microsoft’s Kinect and Sony’s PlayStation Move.
Angry Birds Trilogy doesn’t have a firm release date yet, but Activision is saying that it will be out around the holiday season.


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The TJX Companies Receives Consensus Rating of “Buy” from Brokerages (NYSE:TJX)
The TJX Companies (NYSE:TJX) has received a consensus rating of “Buy” from the twenty-three brokerages that are covering the company, American Banking and Market News reports. Seven research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $62.41.
Several analysts have recently commented on the stock. Analysts at Northcoast Research upgraded shares of The TJX Companies from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 23rd. They now have a $62.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Sterne Agee cut their price target on shares of The TJX Companies from $65.00 to $56.00 in a research note on Wednesday, July 16th. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The TJX Companies in a research note on Friday, May 23rd. They now have a $63.00 price target on the stock, down previously from $65.00.
The TJX Companies (NYSE:TJX) opened at 53.96 on Friday. The TJX Companies has a one year low of $50.31 and a one year high of $64.38. The stock’s 50-day moving average is $53.37 and its 200-day moving average is $57.18. The company has a market cap of $37.789 billion and a price-to-earnings ratio of 18.21.
The TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.03. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that The TJX Companies will post $3.14 EPS for the current fiscal year.
The TJX Companies, Inc (NYSE:TJX) is the off-price apparel and home fashions retailer in the United States and worldwide.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.


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The finance minister on Friday welcomed the “concrete steps” taken by European leaders to resolve the region’s crippling debt crisis and called for their quick implementation
COLORADO SPRINGS, Colo. — President Barack Obama absorbed the devastation of Colorado’s wildfires Friday, visiting a neighborhood struck by the flames and taking in the acrid smells of charred homes while plumes of smoke rose from the surrounding mountains. After declaring a “major disaster” in the state early Friday and promising federal aid, Obama got a firsthand view […]
U.S. stocks soared Friday, and all three indexes closed out the first half of 2012 up more than 5%. The Nasdaq has etched double-digit gains.
The Raspberry Pi is a tasty little Linux computing device but it’s so far been rather hard to buy. I’ve wanted to order one since it officially started to ship in April. However, due to the limited quantities, retailers sold out nearly immediately.
Enter Allied Electronics. The Texas-based electronic distributor is now taking orders for the Raspberry Pi at the list price of $35 each with the only caveat being shipping is not for 10-12 weeks. But I’ll take it!
The Raspberry Pi is a pretty exciting computing devices. The tiny PCB is packed to the gills with respectable hardware: a Broadcom BCN2835 SoC (700MHz ARM CPU), 256MB RAM, Ethernet, two USB ports, and HDMI. Plus, the Linux core allows for all sorts of general coding fun. It’s hard to find a more capable device for $35 — and now you can finally order one.
Bernard Madoff’s younger brother pleaded guilty Friday to federal charges that he helped cover up the biggest Ponzi scheme in history.


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In August 2020, Amazon launched its first Halo Band fitness tracker. The $100 device did not come with a screen and required a $4 monthly subscription to take advantage of its advanced features. The wearable utilized a built-in mic to track the tone of a user’s voice to discern emotional health, which some critics immediately flagged due to privacy concerns. Over a year later, Amazon has updated the product by doing away with the mic and incorporating a screen to make the tracker more like an Apple Watch or Fitbit product.
Amazon is clearly trying to carve out a piece of the crowded fitness market, as the new Halo View is cheaper than its predecessor at just $80, and the tech behemoth is including a one-year subscription to both Halo Fitness and Halo Nutrition. It’s not yet known how much these subscriptions will cost users once the free trial expires. Amazon is looking to ship Halo View by the holidays and Halo Fitness content will start rolling out to members around the same time, whereas Halo Nutrition will become available in January 2022.
Considering that Fitbit devices that offer similar functionality to Halo are at least $150, and Apple Watches start at $199 for the older Series 3 models, Amazon will have a price advantage and could be an impulse purchase for many holiday shoppers who will already be utilizing Amazon to complete their holiday lists.
That said, Amazon will have to convince consumers that the Halo View and associated subscriptions are worth it in the face of more popular options. Apple so far has dominated the wearables category; in Q4 2020, Apple accounted for more than 40% of smartwatches sold and controls more than a third of the global smartwatch business, with Samsung at 8% and Google’s Fitbit at just over 4%, according to a Forbes report.
The fitness category is fast becoming a fitness-as-service business. The leading firms all have subscriptions (Apple Fitness+, Samsung Health, Fitbit Premium, etc.) that generate the bottom line-boosting recurring revenues big corporations so greatly desire. The device is merely a trojan horse intended to get consumers hooked to a subscription. As a cash-rich company, Amazon is likely unafraid to take a hit on Halo View profits to build up subscription numbers over the long-term. The good news for Amazon is that nearly a third of its US customers report trying to improve their health and fitness. Additionally, Amazon shoppers in the US are more likely than non-Amazon shoppers to own a fitness tracker or smartwatch, according to Interpret’s New Media Measure®. If Amazon can convert a portion of those wearables owners into Halo users, it’ll be off to a good start.


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Vodafone and KFC have been announced as sponsors of the live and free-to-air coverage of Rugby World Cup 2023 on Virgin Media Television and RTÉ.
The two broadcasters have partnered to ensure that all 48 games of the Rugby World Cup are free-to-air in Ireland.
The action gets underway this evening Friday, 8th September, and runs right through until the final on Saturday, 28th October.
Most of the games will take place over weekends with as many as four games being shown live back to back on some days.
Ireland’s opening game is on Virgin media at 2-30 on Saturday 9th September. The games against Tonga, South Africa and Scotland will also take place on Saturday’s each with an 8 PM kick-off time.
We will bring the different stings that the two brands are using, as well as a review of the other brands that are advertising in game across the Rugby World Cup over the duration of the tournament.


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Humm Group director Andrew Abercrombie has asked shareholders to vote against the $335 million sale of Humm’s consumer finance business to Ahmed Fahour’s Latitude Financial, in a rare display of director dissent.
Humm chairman Christine Christian said the rest of the company’s directors still backed the deal, under which Latitude would integrate Humm’s buy now, pay later and credit card businesses, in line with the recommendations made by independent expert Kroll.
“It was a great deal then when we first announced it and it’s even better now in the current macroeconomic environment,” Ms Christian said on Wednesday.
In the explanatory booklet released on Wednesday ahead of a shareholder vote on June 23, independent expert Kroll valued Humm’s consumer finance business at between $260 million and $308 million, and Latitude’s offer in a range between $290 million and $320 million.
“Accordingly, as the value of the consideration overlaps with the range of equity value, the Independent Expert has concluded that the HCF Sale is fair and reasonable and therefore in the best interests of Humm shareholders in the absence of a superior proposal,” the booklet said.
But Mr Abercrombie argued the deal drastically undervalues Humm’s consumer businesses, which have been battered by the COVID-19 pandemic, and the company is better off retaining the businesses alongside its commercial asset financing arms. He has recommended shareholders vote against the sale.
The ructions were foreshadowed by Street Talk last week, when Mr Abercrombie requested a copy of the Humm register via his lawyers at Arnold Bloch Leibler. On Wednesday, his objections were finally made public via the explanatory booklet.
“Andrew Abercrombie believes that the terms of the Humm consumer finance sale undervalue [it] and that a better approach for the future of HCF is not to sell HCF to Latitude on the current terms, but for Humm to remain listed in its current form, to execute on its previous plan for organic growth and to be an opportunistic consolidator in the sector,” the booklet said.
Mr Abercrombie, who founded Humm’s predecessor Flexigroup, holds about 20 per cent of its shares. The sale needs 50 per cent of shareholders to back it to go through, while the distribution of Latitude shares to Humm shareholders as part payment for the sale requires 75 per cent approval via a scheme of arrangement.
The remainder of the sale proceeds would be distributed to Humm shareholders in cash. It is understood that the 7.6 per cent decline in Latitude shares since the deal was announced on January 6 has exacerbated Mr Abercrombie’s concerns about the part-scrip deal’s value.
Ms Christian played down the potential for Mr Abercrombie’s opposition to derail the deal, stressing it affords shareholders certainty amid the rapidly deteriorating outlook for buy now, pay later stocks.
“That’s his view. We believe our share price would likely have fallen significantly, in line with our sector peers without the Latitude approach,” she said.
Unlike competitors like Zip and Sezzle, which have lost more than 85 per cent of their market value over the past six months, Humm and Latitude are profitable.
Ms Christian said shareholders had supported the deal earlier this year and should only find it more compelling given rising interest rates, growing uncertainty and the need for players to create scale.
“The world has changed since we announced the deal, given the increased competition and huge sell-off in the sector, it’s really undergoing significant headwinds and challenges. We’re even more confident that this is truly compelling,” she said.
Ms Christian said she was confident the board could continue to work together despite the extraordinary steps taken by Mr Abercrombie to oppose its recommendations.
“We’re a professional, highly skilled board with lots of experience. We welcome discussion and debate on all items, that’s what makes a truly functioning board,” she said.
“The board will continue to work in a functioning manner. [Andrew has] provided his views right from the start and he’s had the opportunity to contribute his views in the explanatory booklet.”
A spokesman for Latitude, which has previously touted the benefits of the sale as broadening its tightly held share register by distributing shares to Humm’s register, declined to comment on what the scheme failing might mean, if anything, for the sale.
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Oliver Peoples has signed a 10-year lease at Brookfield Place in lower Manhattan, where it will open a 626-square-foot store on the lobby level of the Winter Garden.
Rocco Basilico, head of retail at Oliver Peoples, said, "We carefully considered Brookfield Place for our fourth New York City location and are very excited to introduce ourselves to the area. As we endeavor to reach a new clientele, the downtown community of workers compounded with the multitudes of visitors who now flock to this exciting location is a perfect fit for our brand."
Part of Oliver Peoples' 30th anniversary collection will drop in the summer, which coincides with the brand's Brookfield Place opening. Because the eyewear brand designs stores to fit into their surroundings, the unit will be modeled after the TriBeCa of a professional person, someone say, in advertising or another creative field.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion


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China's Alibaba Group is seeking to raise up to $24.3 billion in its upcoming IPO—an amount that would be the most raised by a company in a stock market debut.
Twitter said Tuesday it overhauled its user display to make the messaging service "more visual," as it ramps up competition against photo-sharing services like Instagram.
Social networking giant Facebook plans to engage in a new type of mobile advertising based on the apps used by consumers, The Wall Street Journal reported Saturday on its website.
Zynga is poised to harvest some cold hard cash in its initial public offering. Who knew that selling virtual cows and digital corn on Facebook would create a $7 billion company?
Twitter lifted its character limit Wednesday for direct messages between users, saying it would help make the private side of Twitter "more powerful and fun."
Twitter shares fell to an all-time low on Monday, weighed down by doubts that the popular messaging platform isn't growing fast enough to thrive.
Jack Dorsey would have to give up his post at Square if he's to become CEO of Twitter.
Chinese regulators accused e-commerce giant Alibaba of permitting sales of fake goods and hurting consumers in a report that was withheld until now to avoid disrupting the company's U.S. stock market debut.
Shares in the company behind GoPro cameras, used to capture sports action from players' perspectives, jumped more than 30 percent on their first day of trading.
Alibaba Group, China's leading e-commerce company, is dangling a deal that could turn into one of the biggest IPOs in U.S. history.


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Krafton CEO CH Kim has said the company will actively leverage new technologies to offer unique experiences to gamers and creators.
- Krafton, creator of PUBG Mobile and Battlegrounds Mobile India, said it will leverage hyperrealism character production technology to create digital avatars of humans and also tap AI, text-to-speech, speech-to-text, and voice-to-face to improve their communication skills
South Korean gaming company Krafton, known for games such as PUBG Mobile and Battlegrounds Mobile India, has jumped on to the Metaverse bandwagon with a virtual human modelling business, which will focus on building realistic virtual avatars that will be used inside games, eSports and as virtual influencers and singers.
Krafton said it will leverage hyperrealism character production technology to create digital avatars of humans and also tap into artificial intelligence (AI), text-to-speech, speech-to-text, and voice-to-face to improve their communication skills.
The virtual humans will also exhibit motion-captured vivid movements, pupil movements, a wide range of facial expressions, and hairs on the skin.
Last month, at a town hall, Krafton CEO CH Kim had said the company will actively leverage new technologies to offer unique experiences to gamers and creators.
"We are geared up for realising an interactive virtual world (Metaverse) in stages and will continue to introduce more advanced versions of virtual humans and content based on the belief in the infinite scalability of such technologies," Shin Seok-jin, creative director at Krafton said in a statement.
Hyperrealism is an old art concept that has inspired artists to create sculptures and paintings that give the illusion of being real. In the present day, it has struck a chord with game developers and animators who now have access to the tools to make digital characters look like real people. Characters in games such as FIFA 22 almost look and move like their real-world counterparts.
Digital humans will be a vital cog in the Metaverse and will represent real humans in the virtual world. Initially, the options to customise virtual avatars will be limited to clothes and skins. However, as the adoption of Metaverse will grow and people start to spend more time inside them, demand for virtual avatars that look more like their real self is also expected to grow.
India is emerging as a new hub for animation and game development. After the pandemic, several overseas game studios had outsourced development work to India. The Union Budget for 2022-23 recognised the employment opportunities in animation, visual effects, gaming and comics (AVGC), with the government saying it will set up a task force to recommend ways to ramp up domestic capacity to serve global markets.


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US Bank customers can now add their Visa Corporate Travel Card to Apple Pay, Android Pay and Samsung Pay. “This new functionality allows commercial cardholders to conveniently and securely pay on the go with compatible devices, making US Bank the first financial institution to offer a mobile payment solution for Visa corporate card transactions,” the bank says. Select US Bank customers can make use of the function now, with a “wider launch to all commercial clients” coming in the spring.
- Apple Pay users in the US to get buy now pay later option with iOS 16
- BIS reports on CBDCs in emerging markets
- Moroccan bank launches biometric payment card
- US digital bank introduces contactless payments rings
- Riksbank completes digital currency payments pilot


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April 1, 2010 at 4:11 pm
The Nvidia Tegra 2 chipset that was heavily shown off at the Consumer Electronics Show in January, mostly in numerous tablet devices, is suffering “some serious issues” relating to stability according to Slashgear. This is causing a delay in the production pipeline for many companies looking to incorporate the chip into their products.
Devices that were expected to hit the market in June 2010 have now been delayed to August at the earliest. This includes projects such as the much anticipated Notion Ink (delayed to Q4 2010) and Compal (delayed to mid-September) tablets. This can only be good news for the Apple iPad that will have the market to itself for even longer.


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Changan Alsvin Received 1000 Pre-Bookings In 2 Days
Changan Master Motor has closed the booking of recently-launched Changan Alsvin. As per a statement by the company, the sedan is “fully booked till June by our genuine customers.” The statement further read Changan is not taking any new bookings to avoid long delivery lead time.
“Please refrain from making any payments to anyone promising an early delivery,” the company said. Changan further noted that it would reopen the booking soon.
Booking Closed on First Day of Opening:
It is pertinent to mention that Changan closed the booking the very day, it was opened for public. In an earlier notification, the company announced that booking for the public would be opened on January 14th.
Earlier, there was a pre-booking of 1000 customers who won the lucky draw, between January 11th and 13th. The question arises, were dealers taking bookings for individuals on these dates? because yesterday, when people reached the dealership with bank drafts, several dealers told them NO BOOKINGS. As per reports, this happened just after a couple of hours of opening of company’s dealerships.
So, should we expect a price increase after this move? Another major question arises, wouldn’t it encourage ‘ON Money’ on Alsvin?
No CKD Unit of Changan Alsvin Displayed:
One of the significant aspects of Alsvin launch is that the company has not displayed CKD/locally manufactured unit of the car. As per our reports, the company imported 20 CBU units and displayed them on its dealership across the country. Furthermore, upon asking, most of the dealers told customers that it is a CKD unit, which was not the case.
In short, the customers have not seen locally manufactured Alsvin, still the company closed its booking. The move will surely hamper the trust of customers on the company, because they have not experienced the CKD units to check the quality of the car, they will receive. Furthermore, public didn’t get a proper chance to book Changan Alsvin at all, which is not a good sign.
What do you think of this move by Changan Master Motor? Share your thoughts in comments section.
For more views, news and reviews, keep visiting PakWheels Blog.


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Energy suppliers are required by law to reduce carbon dioxide emissions and ensure that their customers’ homes are energy efficient.
The current law on repossessions is particularly vague with individuals not being provided with an appropriate legal basis to adequately prepare their case, should the circumstance ever arise. Many do not have a basic understanding of their legal rights in this area and this can often lead to finance companies and other high street lenders repossessing vehicles without following the prescribed steps.
An overhaul in consumer rights law is expected to take place later on this year with the introduction of a Consumer Rights Bill. The new laws, due to be implemented in October 2015, will govern all contracts entered into between traders and consumers and will replace the highly established provisions set out in the Sale of Goods Act 1979.


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Germany’s second-largest cement producer Dyckerhoff AG expects sales in the USA, where a fifth of its turnover is generated, to fall ostensibly in 2008, CEO Wolfgang Bauer said on March 26, 2008.
Bauer based this prospect on the weak residential construction market and the increasing competition in the USA. Therefore, Dyckerhoff’s consolidated profit and turnover are expected to stagnate.
In 2007, Dyckerhoff raised its profit 90 per cent YoY to EUR286m (US$449.3m). The turnover it generated grew 25 per cent to EUR1.8bn (US$2.83bn).


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Over a third of UK micro-businesses in the last year have been affected by cyber security incidents, costing them an estimated £166m collectively, according to research from GoDaddy.
The report revealed that of those small firms impacted by cyber-crime, almost a quarter (24%) suffered financial losses as a result, with 21% losing £1,000 or more. In addition, nearly half of those surveyed said they had experienced website downtime, with 25% seeing their sites offline for between three and seven days.
GoDaddy, which strives to empower everyday entrepreneurs by providing key tools and insights needed to succeed online, compiled the research in June 2021 across seven markets: Australia, Canada, Spain, France, Italy and the UK.
A fifth of businesses surveyed who had fallen victim to fraud said they worry their reputation has been negatively impacted. Indeed, supporting consumer research commissioned by GoDaddy revealed that 15% of customers said they would stop shopping with a business if it experienced a security breach. London-based consumers appear to be the most concerned, with 21% agreeing they would not shop with the business again.
GoDaddy’s study among small business owners also found that 59% do not have website protections and a further 26% report to have neither bought nor researched website protection and security solutions.
According to Ben Law, the head of GoDaddy UK and Ireland, the key to minimising financial and reputational damage is in preparation and protection. This is particularly important for those businesses smaller in size, as they arguably have more to lose
GoDaddy offers its customers easy-to-use tools to help protect their websites, including its Website Security Tool. The company also offers Express Malware Removal for websites that have become subject to external malware hacks.
“Our Website Security tool and SSL Certificates are designed to help micro-businesses protect their websites, and the transmission of data, as well as to help safeguard against service issues associated with security threats,” Law explained.
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst


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BBC is currently planning to launch its own streaming service for TV series and movies next year. This is a good news for American fans of BBC, as the British broadcaster giant has made plans to launch the subscription based streaming service.
According to a report of The Guardian, the director general of BBC said, “We’re launching a new OTT [over-the-top] video service in America, offering BBC fans programs they wouldn’t otherwise get, showcasing British actors, our program-makers and celebrating our culture,”
There are some shows like Sherlock and Doctor Who available in America through deal with the networks, but still there are number of shows that are not available in the state. This new streaming service is likely to be monthly pay basis.
However, we don’t have any idea about the name and cost of BBC’s this upcoming service, nor do we know the exact time of its release next year. Also, we are unsure about the list of the shows that would be available in the service. But BBC’s general director said that this service is going to include content that Americans “wouldn’t otherwise get.”
If you want to stream the episodes of right away, you will also have option to buy the seasons and episodes of the shows via iTunes, Google Play and Amazon


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It is easy to see why businesses are placing more emphasis on cyber security. Between a major cyber attack bringing the NHS to its knees in 2017, and the EU’s General Data Protection Regulation promising substantial fines to businesses that fail to protect private information, ensuring that any business that handles your data is secure seems more important than ever. So how big an issue is cyber security really, and how can you best ensure that your business is protected?
How important is cyber security?
Major cyber attacks, including the new phenomenon of ransomware as seen with the 2017 NHS attack, are not necessarily increasing in frequency, but the potential damage they do is increasing as more and more businesses go entirely digital. Because of this, as well as the potential for loss or fines if a company’s data is not secure, many companies have taken out cyber insurance policies against such losses.
With UK losses from cyber attacks against businesses totalling almost £30 billion in 2016, and over 50% of firms reporting some sort of cyber attack, combined with the new EU directives allowing fines up to 4% of global turnover, it is easy to see why companies would be concerned. If anything else could account for a 4% reduction in turnover, it would be a major priority for any business, so cyber security should be seen as a top priority for any business – https://www.infosecurity-magazine.com/news/cyber-attacks-cost-uk-firms-30bn/.
How to protect your business
A starting point for any business is ensuring top notch and up to date security software, including virus checking, firewalls, and file integrity monitoring software such as https://www.promisec.com/file-integrity-monitoring-software/.
The majority of cyber attacks are not directed attacks, but attacks of opportunity relying on lax practices, such as out of date software and a lack of protection, so combining security software with best practices such as ensuring software updates and reasonable password policies can prevent the vast majority of potential attacks.
Cyber attacks are a major source of loss for businesses and the potential for damage will only increase as more companies digitise a higher proportion of the data they manage. Companies have to ensure not only their own security, but the security of any other entity they supply information to, meaning the importance of cyber security, or things like cyber insurance, will only increase.


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Superdry revenue dipped 19.1% to £705m for the full year to 25 April, with fourth quarter performance impacted by the ongoing coronavirus crisis.
Store sales dipped 57% during the fourth quarter, with the retailer’s store estate closed since late March. Retail sales dropped 22.9% for the full year to £288.3m.
Weekly ecommerce sales have doubled year on year over the last four weeks, and womenswear ranges currently account for around half of sales for the first time.
Ecommerce sales were up 6.8% in the fourth quarter but declined 8.2% in the 2020 financial year.
The retailer said its performance in the six weeks to 7 March materially improved and online sales grew 18.8% year on year until the outbreak of Covid-19.
Wholesale revenues were down 20.1% for the year, and 35.8% in the fourth quarter. The retailer said shipments are now resuming as lockdown measures ease and its franchise stores begin reopening.
The retailer said it has been “working collaboratively” with its supply base: extending payment terms, increasing discounts and rebalancing its stock intake. It has reduced the number of units of future buys by 20%.
Chief executive Julian Dunkerton said the retailer ”continue[s] to work hard so that the business can emerge stronger from this extraordinary period.”
The company had £39.8m of net cash as of 5 May and is in “constructive discussions” with its existing lenders (HSBC and BNPP) and potential new finance providers to explore the need for additional liquidity going forward.
The majority of its requests for three-month rent deferrals, worth more than £20m, have been granted by landlords. As of 6 May, the retailer had re-opened 48 stores across Europe in accordance to government guidelines, with 130 expected to be trading by the end of May.
Superdry furloughed 88% of its staff upon closure of its store estate and corporate sites.
A pay reduction of 25% has been taken by executive directors and board members for a minimum three month period from 1 April. Executive directors will not receive a bonus for 2020 or 2021.
Julian Dunkerton, chief executive, said: ”Our first priority through the pandemic has been supporting our colleagues and communities through what is a very uncertain time. We are proud to have supported the NHS and other key workers close to our Gloucestershire headquarters, for instance through donating 300,000 items of vital PPE to local care homes.
“As with all retailers, the Covid-19 pandemic has caused major disruption to our business operations and supply chain. I am pleased with the accelerating shift in sales to online, and we’ve seen a particularly good performance from our women’s ranges which, for the first time ever, are accounting for around half our sales. Clearly however, the closure of all our stores has had a major impact. We are taking all practical steps to preserve cash, looking carefully at all areas of the business and working to secure additional liquidity and financial flexibility.
”We continue to work hard so that the business can emerge stronger from this extraordinary period. It will take time to return to normality, for now we remain open for business online through superdry.com, our stores in Europe have begun to reopen and I am excited by our new ranges for the autumn/winter season.”
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Researchers with the Rudd Heart for Food items Policy and Overall health and the University of Connecticut accept that CFBAI’s revised nourishment standards that went into influence in 2020 are “a step in the appropriate way,” but they argue in a report* published these days that they continue to “fall short of what is essential to regulate the business and keep kids wholesome.”
In 2020, the food items industry’s voluntary self-regulatory program CFBAI revised its qualifying nourishment benchmarks to reduced sodium and included sugar boundaries of goods that taking part makes could promotion to small children youthful than 12 decades.
It also strengthened optimistic nutrient needs so that the full grains food items criteria ensured a “meaningful sum of full grains,” and minimal nutrient-primarily based qualification statements mostly to individuals that the Nutritional Suggestions for Individuals identifies as “under consumed,” between other variations.
At the time, these alterations have been predicted to demand 40% of the food items on CFBAI’s merchandise checklist at the time to be reformulated to carry on to qualify for kid-immediate promotion soon after Jan. 1, 2020.
And according to the Rudd Center analysis printed right now, the revised suggestions brought on the amount of CFBAI brands to fall from 46 to 39 and the number of solutions allowed to advertise below the stricter benchmarks fell 19% from 308 merchandise in 2017 to 2020 when the guidelines went into result.
The bulk of this fall off arrived from sweetened exempt beverages (a 72% drop) and foods and entrees (also a 72% drop).
The all round nutritional high quality of the remaining solutions also improved, but only minimally, in accordance to the research which evaluated the products and solutions that achieved CFBAI’s revised nourishment conditions applying NPI rating – an over-all nourishment score centered on the nutrient profiling product utilised in the Uk to recognize healthier goods marketed to small children.
It found the median NPI scores elevated to 68 in 2020 compared to 66 in 2017, with most of the advancement concentrated in the sweet snacks and yogurts types. Scores for goods in meals and entrees, savory snacks and nut butter types declined and people for cereals and cheese goods had been unchanged, in accordance to the investigate.
All round, the researchers identified two-thirds of solutions marketed to children beneath the revised rules had wholesome NPI scores.
Whilst this is progress, the researchers say the revised rules continue to have gaping loopholes that make it possible for harmful merchandise to be instantly and indirectly advertised to kids who are remarkably influential.
For instance, the researchers note that the CFBAI Revised Diet Requirements are nonetheless a lot less stringent than healthier item recommendations discovered by non-sector stakeholders. And they note “it is not clear why limits on vitamins this sort of as additional sugar or saturated extra fat should really differ by group.”
What’s more, they issue why CFBAI enables companies to publicize “exempt” sweetened drinks to small children when the American Academy of Pediatrics and community health specialists say children must not consume any drinks with extra sugar or non-nutritive sweeteners.
The scientists also be aware that although participating businesses may perhaps only promote CFBAI compliant products on baby-directed media, this promoting influences children’s recognition and preferences for models, which could also consist of items that are not marketed due to the fact they do not meet up with the specifications.
In addition, the report finds that some CFBAI collaborating manufacturers may possibly forgo little one-immediate media, but nonetheless boost the merchandise by way of websites, packaging, in-keep shows and partnerships that attraction to little ones.
Last but not least, the scientists observe, the confined protections that arrive from revised CFBAI tips do not extent to small children more mature than 12 – some thing they would like altered so that the limits apply to products and solutions aimed at youngsters at minimum as aged as 14 a long time, but preferably 17 decades.
A get in touch with to motion
Offered these restrictions of the recommendations, the researchers inquire CFBAI to additional fortify specifications to match those people established by independent experts, standardize the nutrition criteria throughout categories and improve the categories that should really not be marketed to little ones at all.
They also encourage CFBAI to call for all merchandise provided by models with little one-directed advertising and marketing to meet the nourishment standards and increase protection to involve all varieties of promoting.
Weary of the efficacy of CFBAI extra generally, the scientists contact on the Federal Trade Fee to create voluntary recommendations to make sure children’s merchandise market a healthier diet plan. They also talk to federal legislators to block harmful foodstuff and beverage promoting to little ones as a tax deductible company price and regional legislators to additional prohibit internet marketing of these products and solutions in their communities.


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Leann Darrow has been waiting on her General Motors Co. dealership for more than a month to get the defective ignition switch on her 2005 Chevrolet Cobalt replaced. She’s been nervous about driving the car, but as of Monday, she was still waiting for an appointment to open.
“They told me they have over 150 vehicles on the waiting list and have received only five ignition switches,” said Darrow, 53, of Pittsfield, Mass. “They were unable to tell me where I am on the waiting list. Unbelievable.”
Darrow’s frustration illustrates how the recall system often falls short of a main goal: fixing vehicles quickly. About 3 in 4 ultimately get repaired, but it takes time. And for older vehicles, like the 2.6 million small cars that carry GM’s defective switch, the repair percentage falls dramatically. Neither regulators nor companies can easily find people who are often the second or third owners of an older car.
More than 3.5 million cars are listed for sale online now with open safety recalls, according to current figures from Carfax, which conducts extensive research into used car sales.
“Right now, there are almost 36 million cars on the road that have an unfixed recall. About 10 percent of those were for sale online just last year alone,” said spokesman Christopher Basso.
The decades-old recall system has drawn fire for years but is now facing perhaps its most intense scrutiny ever. As GM car owners and dealerships wait for more new switches from a supplier, the automaker is scrambling to explain why it took more than 10 years to issue a recall that could have saved lives.
The National Highway Traffic Safety Administration, the federal agency in charge of recalls, is also under fire from Congress and safety advocates for not recognizing the problem years earlier and forcing a recall of the switches, now blamed for 13 deaths and at least 47 crashes.
Congressional committees and the Justice Department are investigating, with criminal penalties possible. One legislative proposal, designed to give the system more teeth, would increase the maximum civil fine to $300 million from $35 million for an automaker’s failure to inform NHTSA of safety defects. Last month, the agency announced the maximum $35 million fine for GM.
Safety advocates say NHTSA needs more power and staff to police the massive industry and performance of 250 million vehicles on the nation’s roads. The agency has defended itself before two congressional committees, saying the problem would have been recognized sooner had GM been more forthcoming with vital information.
The current recall system is a shared responsibility between NHTSA and automakers, which are expected to notify regulators and the public of safety issues and to initiate voluntary recalls. NHTSA also conducts its own research into crashes and traffic data and also can order recalls.
The system broke down with GM and NHTSA failing together, and each separately, to decide to recall defective switches that first showed problems in 2001. GM did not issue the first of several recalls for the switches until February.
U.S. Rep. Fred Upton, a Michigan Republican and chairman of the House Energy and Commerce Committee, said his committee’s investigation into the recall could lead to changes in NHTSA’s regulatory powers.
“We know NHTSA did not identify the problem, but we don’t fully know why,” Upton said. “Right now, it is still too early to tell if and what changes need to be made.”
NHTSA has said before several congressional committees this year that the burden is on automakers to monitor defects and report them within five business days if motorist safety is at risk.
Critics say the agency relies too much on auto companies to self-report problems. But NHTSA is dwarfed by the sprawling industry it regulates. With just 591 employees, it is responsible for overseeing the safety of all vehicles on the nation’s roads. The agency’s Office of Defects Investigation, which reviews more than 45,000 complaints annually, mostly from consumers, has 51 people.
The agency also points out that its mission is more about promoting driver safety and less about policing safety defects. NHTSA says it gets more bang for its buck and saves more lives investing in safe driving campaigns, such as nationwide seat belt, anti-texting and anti-drunken-driving promotions. Regulators say they need the industry to self-report safety issues and to reliably initiate its own safety recalls for the system to work.
“The bottom line is that safety is a shared responsibility,” said Transportation Secretary Anthony Foxx, whose department oversees NHTSA. “There are some situations when automakers are in a better position than NHTSA to know information.”
On the industry side, there have been recent examples of companies not cooperating with regulators even though problems were identified by drivers and known by the companies, including from Toyota and Chrysler in recent years.
Toyota was fined the maximum civil fine for not cooperating with NHTSA in 2009 and 2010 about claims of sudden unintended acceleration with some of its vehicles. The company this year agreed to pay $1.2 billion in fines to settle criminal charges with the Justice Department over the scandal.
Last year, Fiat Chrysler CEO Sergio Marchionne fought back when NHTSA ordered a recall of Jeep Grand Cherokees and Jeep Liberty SUVs with rear-mounted gas tanks the agency says are at risk for fiery rear-end collisions. Instead of a recall, Chrysler agreed to conduct a “safety campaign” to install trailer hitches for added protection, but it still denies a defect exists.
The recall system might be changing slowly on its own as companies want to avoid the problems faced by GM and Toyota. Automakers recalled nearly 28 million vehicles in 2013, the most of any year since 2004 (33 million).
Automakers also are deciding to recall more vehicles immediately after they discover defects rather than waiting for NHTSA to start an investigation. GM has initiated a wave of recall campaigns in the past several weeks. In 2013, 72 percent of vehicle recalls were initiated by automakers, up from 52 percent in 2003, according to NHTSA data.
Some automotive executives say the system needs to be more nuanced because not all recalls are created equal. They say the word itself is misleading because some problems are mundane software patches or other technological glitches that are quick and easy fixes.
Dave Zuchowski, CEO of Hyundai North America, is concerned that consumers have become numb to the recalls as their frequency rise and media coverage intensifies.
“Recalls used to be a signal of the quality of the vehicle. Now they are a signal of the complexity of the vehicle,” he said. “Consumers don’t think because of all these recalls, you are building a shoddy car. We’ve really got to work hard to get more of the people to come in.”
Some executives also worry that intense scrutiny of Toyota and now GM will create an overly cautious industry, eventually hitting consumers as the cost of recalls results in higher vehicle prices.
“You’re going to see a heightened level of sensitivity. You may see excessive corrective actions,” Marchionne said last month. “Today there is a feeling of angst and a feeling of concern about what’s going on. I understand it. We just have to manage our way through it.”
Detroit Free Press
BY THE NUMBERS
250 million: Vehicles on American roads
36 million: Vehicles on the road with open recalls.
3.5 million: Vehicles for sale online with open recalls.
75 percent: Recalled cars that eventually get fixed.
25 percent: Drop in traffic fatalities to 33,516 in 2012 from 44,525 in 1975.
45,000: Complaints taken by the National Highway Traffic Safety Administration’s Office of Defects Investigation, which has 51 employees.
591: Total NHTSA employees.
SOURCE: Detroit Free Press research


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Three months before Apple unleashed its now-dominant iPad, CES 2010 was full of tablet prototypes. The most unique: Lenovo's IdeaPad U1 Hybrid.
The U1 stood out from the pack because the tablet part of the device functioned as a detachable screen that could be popped into a case with a keyboard. The $999 hybrid was slated to include 3G wireless connectivity and run on a custom Linux-based Skylight operating system.
Techies drooled over the prototype, with CNET dubbing the hybrid form factor "a fascinating idea" -- but one that "sounds too good to be true."
That review turned out to be right. Just a few months after it unveiled the U1, Lenovo killed the project and decided to completely start over with an Android operating system.
Lenovo got U1-lovers' hopes up again at CES 2011, where it debuted a revamped prototype. This model included a LePad slate that ran on Android and a laptop base that ran on Windows. Alas, even the new version of the U1still hasn't made it past the prototype stage.
CES launched some history-making devices -- and several major disasters.
|Gold price plummets to almost 6-year low|
|Donald Trump's denial challenged by reporter with disability|
|Shoppers descend on Black Friday deals|
|Raspberry Pi's $5 computer sold out online in a day|
|Paul Walker's father sues Porsche over actor's death|


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Local owners breathe a sigh of relief to get back to concentrating on their core business
Sonoma County breweries and distilleries will be able to serve outdoors without food service beginning Saturday, as the state loosened pandemic rules that those in the business said unfairly singled them out for tougher regulation than others in the food and drink sector.
Local brewery and distillery owners who had scrambled to bring in food trucks or other vendors to comply with the previous rules expressed relief on Friday that they could get back to their core business — serving craft alcoholic beverages.
“I’m glad they’re done with it,” Santa Rosa’s Cooperage Brewing Co. owner Tyler Smith said of state regulators. “It was just really frustrating for us to have to police something and explain to customers why they had to buy a meal when it didn’t even make sense to us.”
The brewery will continue bringing in area food trucks, Smith said. But food orders just won’t be a requirement for beer drinkers seeking to slake their thirst.
The guidelines on outdoor service now put breweries and distilleries on the same footing as wine-tasting rooms, which have been allowed to conduct outdoor tastings without food since July. The trade group representing California craft brewers sued Gov. Gavin Newsom and the state’s health officer in December, alleging the rules requiring brewery customers to buy a meal before they could consume beer on their premises were discriminatory.
“It was a hard position to put our brewers in,” said California Craft Brewers Association executive director Lori Ajax. “Some of our breweries were just not able to comply with providing a meal and so just couldn’t open their doors.”
Her part of the struggling hospitality sector needed to be able to take advantage of the state’s nascent reopening to make up lost ground, Ajax said. “I think this next couple months is going to be crucial for our craft brewers,” she said.
The association’s lawsuit against the state was still pending Friday. “We’re going to reassess and wait for this guidance to take effect,” Ajax said. Her group was not involved in developing the new rules and they were not a legal or official response to the lawsuit, she said.
Despite the resentment of many in his field toward the food service requirement, Moonlight Brewing’s Brian Hunt said he was grateful to state regulators for their flexibility during the pandemic.
“I am astounded that an agency as historically stubborn as the [California Alcoholic Beverage Control] recognized the need to do something for all these businesses,” he said. “Was it perfect? Hell no. would I want to be the person in charge with figuring out how to do this? Hell no.”
Brewers and craft distillers aren’t alone in pushing for loosened rules during the pandemic. Sen. Bill Dodd, D-Napa, is one of several state lawmakers promoting bills to try and change restrictions on alcohol sales through state law. Dodd has a bill to legalize the sale of to-go cocktails that will get its first committee hearing next month. He has suggested he would eliminate the requirement that to-go beverages be paired with food orders as well.
“I’m happy to see these businesses that have been struggling over the past year be able to operate with more flexibility,” Dodd said in a statement about the announcement for distilleries and breweries. “However, they must continue to take appropriate safeguards against infection but requiring masks and by keeping customers a safe distance apart.”
Breweries, distilleries and wineries are not entirely free of pandemic restrictions, however.
At establishments located in counties that are in either the purple or red tier, the two strictest, patrons will be required to make reservations and be subject to a 90-minute time limit, and on-site consumption must stop by 8 p.m., according to new state health guidance that is effective Saturday.
Those businesses can begin to open indoors as their home counties progress further, though capacity will be limited to 25% or 100 people, whichever is fewer, in the more lenient orange tier; and 50% or 200 people, whichever is fewer, in the least-strict yellow tier.
Sonoma and Contra Costa counties were the lone Bay Area counties remaining in the purple tier on Friday, though statewide progress on vaccines is set to pave the way for more broad reopening and expanded business operations by Sunday, state officials announced.
Until indoor service resumes, breweries, wineries and distilleries that do serve food will continue to be governed by the same rules applied to restaurants — meaning that in Sonoma County in-person service will be limited to outdoors only.


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Healthcare providers have shown a lack of progress regarding ICD-10 readiness compared with a year ago, while vendors are mostly prepared, according to a new WEDI survey.
Healthcare providers have shown a lack of progress regarding ICD-10 preparedness compared with a year ago, according to the latest survey from the Workgroup for Electronic Data Interchange (WEDI).
WEDI has been conducting surveys on ICD-10 readiness since 2009 to gauge industry progress. This most recent survey found vendors are mostly prepared with just one-tenth halfway or less than halfway complete with product development. Compared with last year’s survey, nearly twice as many vendors indicated that their products are already available, while a quarter said their products would not be available until 2015 or an unknown date.
“Based on the survey results, all industry segments appear to have made some progress since October 2013, but the lack of progress by providers, in particular smaller ones, remains a cause for concern as we move toward the compliance deadline,” Jim Daley, WEDI chairman and ICD-10 Workgroup co-chair, said in a statement.
In the October 2013 survey three-fifths of providers had expected to begin external testing by the middle of 2014; however, according to this survey just one-third have actually done so. Now, more than half expect they will not begin external testing until 2015 or an unknown time.
The status of external testing varies greatly depending on the size of the provider organization. More than half of large providers have begun external testing, while most smaller providers do not plan to begin until 2015.
“Delaying compliance efforts reduces the time available for adequate testing, increasing the chances of unanticipated impacts to production,” Daley said. “We urge the industry to accelerate implementation efforts in order to avoid disruption on Oct. 1, 2015.”


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NEW DELHI • India’s inflation rebounded in February, but was still benign enough to support calls for the central bank to lower interest rates at next month’s monetary policy meeting.
Consumer prices rose 2.57% last month from a year earlier, the Statistics Ministry said in a statement yesterday. That compares to the 2.4% median estimate in a Bloomberg survey of 34 economists.
Inflation has slowed sharply since last year because of a fall in food prices, and remains well below the Reserve Bank of India’s (RBI) 4% medium-term target. The central bank is forecasting inflation of 2.8% in the January-March quarter.
This is the last inflation print before the April 4 interest-rate decision and ahead of general elections that kick off next month. Calls are growing for the RBI to lower interest rates again after it surprised with a 25 basis-point reduction in February.
Ria Modh, an analyst with Stci Primary Dealer Ltd in Mumbai, said calls for a rate cut in April will still be strong because of a revision in January inflation number to 1.97%, which is way below RBI’s target range. “If they need an investment demand, RBI needs to create an atmosphere where investment is boosted.”
Consumer food prices fell 0.66%. Fuel and light prices rose 1.24%. Housing prices rose 5.10%. Clothing and footwear prices rose 2.73%.
India’s factory output rose 1.7% in January, slower than the 2.4% gain in the previous month, data released separately showed. — Bloomberg


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Wonder Hero, an NFT RPG game, announced this Thursday, April 7, the hacking and theft of more than 300 thousand dollars.
The attackers managed to mint 80 million $WND (in-game token) on the BNB Chain and exchange them through PancakeSwap for a total of 750 BNB.
The security team took swift action by suspending all services for users, managing to block further attacks by the hackers.
Measures taken by Wonder Hero
Following the events, the developers of Wonder Hero announced the following measures:
- The team will work around the clock to rectify the breach in our cross-chain bridge.
- They will perform internal checks followed by a full system-wide audit to mitigate all threats.
- They will create a new contract for $WND and new $WND tokens will be sent to their token holders based on the snapshot prior to the attack, before block 16731166.
- WonderHero will compensate 100% to all liquidity providers in the WND-BNB LP group prior to the attack.
- Once the above is completed, the new $WND liquidity pool will start trading again.
- They will announce the timeline for the recovery of services at a later date.
- They will plan a bug bounty program after the audit to better protect users.
«This is an unfortunate incident, we will do our best to make Wonder Hero a fun and safe game for players.
We would like to take this opportunity to thank the community for their continued trust and support, this has only strengthened our resolve to deliver a great game that offers value and fun to our players.
Our community can rest assured that my team and I are fully committed to taking WonderHero to greater heights,» reported Ethan Ng, WonderHero co-founder and CEO on its official website.
Should we be afraid of NFT games?
As the popularity of NFT games has grown, the number of thefts made in recent months has also increased.
Wonder Hero is the second case of theft in less than a month, as last March 23 Axie Infinity was the victim of a million-dollar attack that cost them more than $600 million.
This has caused some fears in the communities of players and users of both projects.
However, both Wonder Hero and Axie Infinity have pledged to replace or return the stolen funds or assets to their users and, in addition, to strengthen security mechanisms.
Companies such as Binance have also lent their support in these situations and have stated that they will work on improving security in the crypto world to build a safer ecosystem.
Visit all our news about Cryptogames here.
Now you can buy bitcoins with local Latin American currencies without commissions on Binance
You can buy and sell bitcoins and other cryptocurrencies on Binance P2P with the local currency of El Salvador, Venezuela, Argentina, Colombia, Chile, Uruguay, Peru, Bolivia, Paraguay, Brazil, Mexico, and Dominican Republic.
In Venezuela you can buy cryptocurrencies with Bsf through the banks Mercantil, Provincial, with bank transfer, mobile payment and PayPal.
To start buying, selling and trading cryptocurrencies on Binance you must have an active and verified account. It’s easy.


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GM Wheat, India’s Farming Liberalization, and a Disrupted Thanksgiving
[October 22nd, 2020]
US Elections are just around the corner, and despite trade-war pain, surveys show many farmers are sticking with Donald Trump. While genetically modified foods continue to be a hot commodity, Argentina becomes the first country to genetically modify wheat for mass consumption. Meanwhile, Indian farming policies could drastically change the country into a food-export powerhouse, Chinese-Australian trading tension intensifies, and ADM expands its business model into new markets. Finally, the holiday season is upon us but disrupted Thanksgiving-parties leave the turkey businesses guessing what is in store for 2020.
Farmers Stick With Trump, Despite Trade-War Pain
Despite the trade war with China and the North American trade battles between Mexico and Canada, President Donald Trump still has much support in the farming industry. This support is due to their lack of belief that they will benefit from a Joe Biden presidency.
The Wall Street Journal looked at some of the farming community’s movements, especially in the Midwestern states, which will play a key role in next month’s presidential elections. Over the past four years, trade wars caught these states in the middle, as many are home to large agricultural products exporters. In a poll by Farm Futures publication, 75% of farmers surveyed in July state that they planned to vote for President Trump, compared with 72% in 2016.
According to the US Agriculture Department, the net farm income for 2020 is on track to reach $102.7 billion, which is a 65% increase compared to 2016. The federal government payments are to make up one-third of this, increasing from 2016, where it stood at 21%. The US Administrations USDA projects will pay $37.2 billion to farmers this year after the administration pledged an additional $14 billion in September.
The coronavirus pandemic has hit exports as the Chinese reduced demand for products such as pork. In 2017, the US pork industry was a $23.4 billion market. It was expected to grow, especially to the burgeoning Chinese market that saw exports exceed one hundred thousand tons per month in 2019 and reached over 150 thousand tons per month at the beginning of 2020.
Argentina Approves Growing GM Drought Resistant Wheat; Needs OK From Its Principal Market, Brazil
Argentina will be the first country to approve the production and consumption of genetically modified wheat that will be drought resistant and help the South American country maintain its position as the world’s fourth-largest wheat exporter.
According to MercoPress, the country’s Ministry of Agriculture made the announcement. However, they still need final approval from Brazil, which is currently the largest destination for Argentine wheat, with approximately 45% of exports going to its South American neighbor. Other smaller but notable countries that purchase Argentina’s wheat include Indonesia, Chile, and Kenya.
The country has faced severe droughts due to climate change challenges. The HB4 varieties of the new hybrid crop returned 20% yield improvement in trials undertaken over the last decade. In recent years, the country’s most affected areas drastically cut wheat yields.
Modi’s Reforms Could Help Turn India Into Food-Export Powerhouse
To see India become a commodities powerhouse and a global exporter of food, the Indian government has backed three laws to see its farming industry’s liberalization. The three bills include the Farmers Produce Trade and Commerce (Promotion and Facilitation) Bill 2020, the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Service Bill 2020, and the Essential Commodities (Amendment) Bill 2020.
Bloomberg News reported Prime Minister Narendra Modi’s government pushed ahead with the laws that will directly affect more than half of India’s 1.3 billion population, leading to new investments from the private sector and supported by new innovative technology. India currently processes less than 10% of its food production and estimates losses at over $12 billion per year due to food wastage.
The government currently sets prices for more than a dozen crops to manage its food security and buy wheat, rice, pulses, and oilseeds for its government welfare programs to support the farming community. This program also leads to the government subsidizing products to supply in the network of over 500,000 low-priced shops for the country’s disadvantaged people to access affordable staples.
China And Australia Commodities Trade Tensions
According to the International Monetary Fund, the trade standoff between Australia and China continues as the Chinese continue to ban, suspend, and even increase tariffs on Australian origin products on the 2019 market estimated to have been worth $104 billion.
Reuters reported that if no solution is found, this continuous trade war that started with the ban of China’s Huawei’s from Australia’s 5G network in 2018 can cause Australia severe economic damage. In February 2019, the port of Dalian in northern China banned coal import from Australia. It introduced a cap on coal imports from all other origins in that year to 12 million tons. In May 2020, China targeted Australian barley by introducing anti-dumping and anti-subsidy duties totaling 80.5% set for five years. This month also saw the ban on beef imports from Australia’s largest meat processors.
In August 2020, China officially suspended barley imports from CBH Grain, Australia’s largest grain exporter, and introduced tighter control of Australian wheat and barley. Australia exports half of its barley to China, with these exports alone estimated to be worth $1 billion to $1.5 billion per year.
Commodities King ADM Pivots To Pet Food, Veggie Burgers, And Probiotics
As the A in the ABCD, an industry term for the world’s largest agricultural commodities traders consists of ADM, Bunge, Cargill, and Louis Dreyfus. ADM has traditionally focused on soybeans and corn derivatives and refined ethanol. However, since margins are shrinking and the trade is becoming even more accessible for producers, the 118-year-old company is venturing out into pet food, vegetable burgers, and probiotics, as reported in Bloomberg News.
ADM has seen rivals, including Cargill transform their business models to more integrated food business in beef and aquaculture. Others are directing more focus on non-industrial commodities such as quinoa, chickpeas, and lentils, which have much more demand with demographics in Asia and more conscious consumers in Europe and North America.
ADM’s traditional grains business rose 7.2% to $835 million in the first half of the year. The company’s nutrition unit, which includes plant burgers and pet foods, saw a 52% rise to $300 million compared to the same period last year, helping the company as a whole through the pandemic.
ADM’s shift to the nutrition business started in 2014 with the company’s largest acquisition with a $3 billion buyout of European natural ingredients company Wild Flavours with other deals, including the purchase of over pet maker Neovia $1.8 billion.
A Disrupted Thanksgiving Leaves The Turkey Business Guessing
As the pandemic continues with restrictions on how many households can interact, Thanksgiving will be a new challenge for turkey and family producers across the country.
Research by some of the largest turkey suppliers, Butterball and Hormel Foods, predict that this Thanksgiving will have smaller gatherings, with many choosing to prepare dinners outdoors. According to The New York Times, Butterball and Hormel Foods, alongside smaller suppliers, sell most of their 40 million turkeys during the Thanksgiving holiday season.
Like other food industries, the bird trade saw low demand due to the pandemic. Butterball reported a staggering $27 million loss in the second quarter. This holiday season, many expect to see tighter budgets as unemployment rates have increased. Thus, a Thanksgiving unlike any before as many states begin to re-introduce tighter restrictions on large gatherings.
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-Editors, Ronnie Luwero and Elena Lopez Del Carril