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With investors worried about declining consumer interest in cable TV, media companies are looking to a technology giant to reel in customers: Amazon.com.
Josh Sapan, chief executive officer of AMC Networks Inc., said on an earnings call Thursday that Amazon is exploring selling smaller packages of TV networks over the internet, echoing comments made by ESPN President John Skipper a week before.
While Amazon has been weighing the idea for some time, as Bloomberg reported in October, media executives have only mentioned it publicly after two recent developments: the continued decline in their companies' stock prices and Apple Inc.'s suspension of plans for a live TV service. As talks with Amazon advance, the executives are trying to convince skittish investors that these so-called skinny bundles will halt recent subscriber declines and maybe even bring new customers into the pay-TV ecosystem.
While only a couple of online bundles are currently on the market, including Dish Network Corp.'s Sling TV and Sony's Playstation Vue, many more are under discussion. Amazon, the world's largest online retailer, has both the financial resources to be a powerful player and an established subscriber base for its Prime video service. Striking deals with the company could give cable networks like AMC leverage with pay-TV providers such as Comcast Corp. and AT&T Inc., which would face added pressure to keep AMC in the bundle or risk losing fans of its hit series "Walking Dead" to Amazon.
"There's some experimentation, I guess, one might call it, going on in early ways, but different ways, at Amazon," Mr. Sapan said on the call with analysts.
Amazon didn't respond to requests for comment.
Media companies are jockeying to have their channels included in skinny bundles. Last year, Walt Disney Co.'s ESPN sued Verizon Communications Inc. for excluding the sports network from a basic TV package. Verizon said last week it will offer customers two low-cost bundles -- one that includes sports channels and one without them.
Still, pared-down TV packages are hard to create because programmers want all of their channels to be included in them. Each channel raises the price of the service, making it less desirable to consumers. Apple Inc. suspended plans to offer a live internet-based TV service after struggling to get the mix of programming it wanted at a low price.
At a Re/code conference last week, ESPN's Mr. Skipper said Amazon was having discussions with programmers about a video service. He said that Amazon wasn't alone, and "there is very significant interest" to deliver TV service "from a bunch of people."
John Martin, the CEO of Time Warner Inc.'s Turner Broadcasting, said this week that Turner is talking with "a half dozen" new companies looking to sell TV service over the internet.
While he wants to make sure Turner channels are in skinny packages, Mr. Martin said a service like Sling TV is "not a broad-based offer that is going to be attractive to lots of people." Sling TV, which was unveiled a year ago and which includes Turner's CNN, TBS and TNT, has about 600,000 subscribers, he said.
"We're getting paid on those subscribers," Mr. Martin said at a media conference. "And so our goal would be the more Slings there are, the more that we're going to try to make sure our networks are in those packages."
AMC's Mr. Sapan said he was confident that all of his company's networks would be included in such packages.
"If we have brands that really are in people's heads and we have a core constituency that cares about BBC America and about IFC and the Sundance Channel and WEtv, that will stand us in very good stead."
~~ Bloomberg News


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Combined, Apple (NASDAQ:AAPL) and Samsung (NASDAQOTH:SSNLF) account for more than half of the smartphones shipped globally, and drive most of the industry's profits each quarter. But Samsung has seen profits fritter away for the first half of this year, amid strong competition from low to mid-range devices from Chinese brands. Samsung expects earnings to improve in the second half of 2014 with the release of new smartphones and tablets. In contrast, Apple appears well-positioned to balloon domestic and foreign profits with new high-margin iPhone handsets.
Apple has domestic growth opportunities
Industry analysts forecast smartphone growth in mature markets, including the U.S., to weaken because of oversaturation. Smartphone makers are looking at emerging markets to drive smartphone growth. Does this suggest Apple's iPhone growth may stall in the U.S.?
Research from Motley Fool analyst Evan Niu shows that about 30% of mobile phone users in the U.S. have not yet switched to a smartphone. This fraction of the U.S. market presents Apple with over 72 million potential first-time smartphone buyers, and billions in untapped mobile revenue.
Apple generated nearly two-thirds of revenue outside of the Americas, which includes North and South America. With the given growth opportunities in the domestic market, it can further improve revenues in the Americas geographical segment, which saw second quarter revenues of $14.3 billion, up 2% from a year earlier.
Apple controlled 45% of the U.S. smartphone market last year on shipments of about 54 million iPhones, according to research firm NDP Group. Samsung edged 2% higher with a 26% share. The Cupertino, Calif. company is set to steal market share with the arrival of the 4.7-inch iPhone 6 in late September, followed by a 5.5-inch phablet iPhone 6 that competes directly with Samsung's Galaxy S5 and Note series.
Apple's high-margin phone business in China
In January, Apple formed a long-term partnership with China Mobile, the world's largest carrier with 787.3 million wireless subscribers, to distribute iPhone handsets and gain a larger share of the Chinese mobile market. Since then, Apple has seen sales and profits surge in Greater China for the first half of this year.
"The addition of China Mobile, coupled with great response to our more affordably priced iPhone 4S, led to an all time quarterly record for iPhone sales in Greater China," Apple CFO Luca Maestri said to investors on the second-quarter earnings call.
Sales in Greater China, which includes China, Hong Kong, and Taiwan, reached record highs of $9.3 billion in the second quarter. Apple plans to triple its retail stores in China over the next two years to capitalize on the growth potential.
Samsung and Chinese brands such as Lenovo, Huawei, and Xiaomi have cut into Apple's Chinese market share, but Apple still controls the profitable end of the market. About 27% of China's market consists of smartphones priced over $500, of which 80% are iPhones.
Android smartphones dominate the mid-range price segment with 57% of devices under $350. Apple threatens to close the gap in this segment. As newer iPhones roll out, Apple expands its mid-range offerings through older iPhone models to compete and pinch share from Android-powered Samsung and Chinese devices.
Samsung's inventory pileup dents profits
Samsung saw demand for older 3G phones decline ahead of the expected growth of 4G LTE phones in the Chinese market. Weak demand for Samsung's mid to low-end smartphones led to inventory pileups in the Chinese and European markets for the second quarter.
Large channel inventories and promotions for new products raised marketing expenses and dampened overall operating profits for the quarter. Slow growth for smartphones also hurt the performance of its semiconductor and display panel business.
Samsung "cautiously" expects positive results in a seasonally strong third quarter, with high operating profits in its smartphone, memory chip, and display panel businesses. The South Korean company believes pent-up demand for new Galaxy smartphones and tablets will accelerate earnings for the second half of this year.
Apple could substantially grow its U.S. installed base if it can switch feature phone users to iPhone devices. Chinese competitors continue to gain market share in China at the expense of low profit margins, while Apple sells high-margin products and propels cash and profits, which matters most for shareholders. Apple trades at a price-to-earnings ratio of 15.93, below the S&P 500's ratio of 19.51, making Apple shares an attractive investment for a large number of value investors.

domain: news


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The Ministry of Woman and Child Development (WCD) has cooked up a new proposal that isn’t making everyone exactly happy. The proposal aims to replace take-home rations given to young children, pregnant and lactating women in anganwadis in favour of cash money.
Now this may sound like a good thing, or at least, it may not sound like a bad thing straight off the bat, but it brings some complications that could spell trouble for women and children in India.
This scheme of handing out rations is part of the universal nutrition entitlement scheme under the Integrated Child Development Services, and is meant to supply much-needed supplementary nutrition during the pre and neo-natal stages and in infancy. It’s supposed to help battle malnourishment, stunting and other growth defects in the Indian population.
So naturally, food security activists are concerned that by replacing these rations with the equivalent amount of money, we’re opening up the possibility of women and children missing out on this additional nutrition, because the money could be spent on entirely different things, or even on foods that aren’t as nutritious as that which the government would hand out. In any case, this was never meant to be a poverty alleviation scheme, but one aimed at improving health and nutrition. As activist Dipa Sinha says The Indian Express, the take-home rations are a mix of cereals, fats, sugar and pulses, with added micronutrients, and it could be hard to replace it’s nutritive value with food bought by individuals without the government’s planning and support.
Activists also point out that in most cases where cash is directly distributed, the amount isn’t inflation indexed, which means the cash entitlement they receive may not match constantly fluctuating and rising food prices.


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EghtesadOnline: Manufacturing enterprises and companies as well as producers of raw materials, including pharmaceuticals, who don’t have the ability to pay customs duties, can now enjoy special customs clearance facilities.
According to Mehrdad Jamal Orounaqi, a senior official with the Islamic Republic of Iran Customs Administration, importers who meet the requirements are allowed to clear half of their consignment and keep the rest at customs premises.
“They will be allowed to clear out the remaining 50% of freight, once they fully pay the duties,” he was quoted as saying by ILNA.
Noting that these importers won’t be subject to value added tax for the clearance of the first half of their shipment, the official said, “The deadline to enjoy special customs clearance privileges is Feb. 4, 2022.
Those who have failed to fully pay the duties in their previous clearances and have been listed as debtors can’t enjoy these facilities.”
The head of the Islamic Republic of Iran Customs Administration said last month that there were 9.2 million tons of goods stranded at Iran’s ports of entry awaiting clearance from customs, of which 4.5 million tons are essential goods.
Also known as necessity goods, essential goods are products consumers will buy, regardless of changes in income levels.
Mehdi Mirashrafi added that the main reason behind this high volume of goods abandoned at ports is the existence of sanctions.
"However, there are other domestic reasons not related to sanctions,” he was quoted as saying by Tehran Chamber of Commerce, Industries, Mines and Agriculture.
Referring to the multitude of directives issued by government bodies hampering the clearance of goods, Mirashrafi said 25 organizations in Iran make decisions pertaining to trade.


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Join our webinar on Thursday, 19 May as we explore the impact of sustained inflation on dividend payments in 2022… https://t.co/jUwPoVmJFw
Daily Global Market Summary - 19 January 2022
All major US and most APAC equity indices closed lower, while European markets closed mixed. US government bonds closed slightly higher, while benchmark European bonds were lower on the day. CDX-NA closed wider across IG and high yield, iTraxx-Europe was flat, and iTraxx-Xover was slightly tighter on the day. Silver, copper, gold, and oil closed higher, while the US dollar and natural gas were lower on the day.
Please note that we are now including a link to the profiles of contributing authors who are available for one-on-one discussions through our Experts by IHS Markit platform.
- All major US equity indices closed lower; DJIA -1.5%, S&P 500 -1.8%, Nasdaq -2.6%, and Russell 2000 -3.1%.
- 10yr US govt bond closed -1bp/1.87% yield and 30yr bonds -1bp/2.18% yield.
- CDX-NAIG closed +1bp/56bps and CDX-NAHY +3bps/317bps.
- DXY US dollar index closed -0.2%/95.51.
- Gold closed +1.7%/$1,843 per troy oz, silver +3.1%/$24.23 per troy oz, and copper +2.0%/$4.47 per pound.
- Crude oil closed +1.1%/$85.80 per barrel and natural gas closed -5.0%/$3.85 per mmbtu.
- US builders started 1.595 million houses in 2021, the highest
since 2006 and 15.6% more than in 2020; 1.123 million units
(highest since 2006) were single-family and 472,000 were
multifamily (highest since 1987). (IHS Markit Economist Patrick
- Housing starts fell in the second and third quarters but bounced back to a 1.644-million-unit rate in the fourth, their highest level since the third quarter of 2006. It is too early to tell how much of this was weather-related and how much was underlying demand. December 2021 was the warmest December on record, going back to 1895; October and November also ranked in the top 10 warmest for their respective months. Housing starts in December increased 1.4% but that increase was not statistically significant.
- Builders took out an annualized 745,000 multifamily housing permits in December, a 30-year high. According to the press release, "Philadelphia enacted several real estate tax changes for residential projects permitted after December 31, 2021." These changes led builders to take out permits early. Single-family permits ended the year on a solid note, increasing 2.0% in December and 5.4% in the fourth quarter. Builders took out 1.725 million permits in 2021, 17.2% more than in 2020 and a 15-year high.
- The number of homes under construction in December increased to a seasonally adjusted 1.519 million, the highest total since November 1973. Authorized but not started homes are at a series high of 270,000 (data start in 2000).
- Builders are facing stiff pandemic-fueled headwinds—rising material costs, labor shortages, and issues with the supply chain for building materials. Another headwind has also emerged: higher mortgage rates, which have moved up 40 basis points in the past three weeks. All this adds up to declining housing starts this year.
- Ford has announced an agreement with security provider ADT to
create camera-based vehicle surveillance systems for retail and
fleet customers, as well as an agreement with payment service
provider Stripe to facilitate e-commerce and payments in North
America and Europe. With Stripe, Ford has signed a five-year
agreement to "transform the automotive e-commerce and payments
experience". (IHS Markit AutoIntelligence's Stephanie
- Stripe is to enable FordPro FinSimple solutions for commercial customers. Ford says the Stripe Connect product will help it scale up new services that require a robust e-commerce system, facilitating payments and purchases between third-party buyers and sellers, including facilitating a customer's payments to the correct local Ford dealer, in the case of reservations for a new product.
- The agreement between Ford and ADT is a joint venture to bring to the market a new business called Canopy, which will provide artificial-intelligence (AI)-powered connected security cameras and a mobile app for monitoring security of a variety of vehicle makes and models. Ford also intends to integrate the service into future products. ADT is a home and property security company and, under the agreement with Ford, it will integrate its Safe ADT platform to provide professional monitoring of vehicles.
- Canopy is to build and sell the subscription product, and it was incubated in Ford's New Business Platform over the past two years. Canopy aims to arrive on the market early in 2023, with its first product designed to protect cargo areas of high-volume commercial trucks and vans in the United States and the United Kingdom, regardless of make. The first Canopy system will have an external camera the user can mount in a van's cargo area or a pick-up bed. The system will have acoustic sensors for vans, onboard cameras, radar, LTE and GPS. AI technology will identify and report credible threats, while reducing false alarm signals. Customers connect to the Canopy system via a smartphone app for a livestream video of the vehicle, receive notifications of suspicious activity, and are able to review past events. Canopy says the system can distinguish between benign acts and security threats, and it will alert ADT monitoring professionals if a person breaches the vehicle protection or is loitering near the vehicle.
- Both agreements are part of Ford's efforts to create a relationship with vehicle owners that it calls "always on" and which it outlined as part of its Ford+ plan. Both plans leverage technology that works with Ford vehicles but also draws on expertise the company does not have in-house. These new partnerships are not due for launch immediately. The rollout of the Stripe technology is expected to start in North America in the second half of 2022.
- Stellantis's aftermarket components arm Mopar has announced a new at-home plug-in wall charger designed for Jeep Wrangler 4xe and Chrysler Pacifica, while charging equipment supplier Blink Charge announced it is a supplier to General Motors (GM) dealers as that company prepares to roll out Utium electric vehicles (EVs) across brands. Mopar announced the new equipment in a press statement, the company says the new wall chargers are priced at USD599 and are "factory-backed, Wi-Fi capable" Level 2 (240-volt) units. Mopar notes that these can charge the Wrangler 4xe, Grand Cherokee 4xe and Pacifica in just over two hours, which it says is six times faster than a standard Level 1 (120-volt) charger. Mopar says its units are available in plug-in or hardwired units that can supply 32 amps/7.7kW maximum power. They are portable, lightweight and lockable for indoor or outdoor charging. Mopar is working with Qmerit to connect customers with installation, an installation company that several other automakers are also working with. Separately, Blink Charging announced that it is part of the GM rollout of EV charging stations at its dealerships in the US and Canada. Blink Charging is working with facilities solutions provider ABM to install its chargers at selected GM dealerships across the US and Canada. Although the number of chargers was not specified, Blink says it has shipped chargers and has orders on hand to install more chargers in the coming months. Blink says its IQ 200 chargers are the fastest Level 2 AC charging stations available; they deliver 80 amps of output to deliver 19.2 kW to EVs. The chargers can be wall-mounted, pole-mounted, or pedestal-mounted. According to IHS Markit light-vehicle registration data, through 30 November 2021, registrations of plug-in hybrid vehicles (PHEVs) jumped to 1.15% of the market, from 0.49% in 2020. (IHS Markit AutoIntelligence's Stephanie Brinley)
- Canada's consumer prices peaked once again in December,
matching rates not seen since the early 1990s. Annual price
inflation rose faster for food, shelter, household operations,
furnishings, and equipment, as well as clothing and footwear. The
monthly decline in gasoline prices contributed the most to the
slower annual increase in the transportation price index. Gasoline
price inflation moderated to 33.3% y/y in December after rising
43.6% y/y in November. Other top contributors to annual inflation
include homeowners' replacement costs at 13.6% y/y, purchase of
passenger vehicles at 7.2% y/y, other owned accommodation expenses
at 13.4% y/y, and meat at 9.0% y/y. As restrictions were few in the
month Canadians resumed usual December travel patterns as demand
lifted air transportation prices 24.7% m/m, which was similar to
the increase two years earlier. (IHS Markit Economist Arlene
- There was a notable difference in the monthly change in consumer prices as there was a gain of 0.3% month on month (m/m) on a seasonally adjusted basis (SA) but a decline of 0.1% m/m on a non-seasonally adjusted basis (NSA).
- Annual inflation quickened to 4.8% year on year (y/y) NSA and SA.
- All three Bank of Canada preferred core inflation rates were higher in the month, averaging 2.9%, 0.2 percentage point higher than November's average.
- High inflation, pandemic restrictions, and consequential job cuts are making a rough road for many Canadians in the third year with COVID-19.
- Major European equity markets closed mixed; France +0.6%, UK +0.4%, Germany +0.2%, Spain -0.1%, and Italy -0.4%.
- 10yr European govt bonds closed lower; Germany/France +1bp, Italy/Spain +2bps, and UK +4bps.
- 10yr German Bunds briefly traded at an intraday high yield of 0.02%, which was the first time it traded at a positive yield since 2019 before closing at a -0.01% yield.
- iTraxx-Europe closed flat/54bps and iTraxx-Xover -2bps/264bps.
- Brent crude closed +1.1%/$88.44 per barrel.
- The Office for National Statistics (ONS) has reported that the
UK's 12-month rate of consumer price index (CPI) inflation
increased from 5.1% in November to 5.4% in December 2021, the
highest rate since the series began in January 1997, and since
March 1992 (7.1%) when using the historical modelled data. (IHS
Markit Economist Raj
- During 2020 and 2021, CPI inflation averaged 0.9% and 2.6%, respectively.
- The CPI including owner-occupiers' housing costs (the CPIH) rose by 4.8% in the 12 months to December, up from an increase of 4.6% in November. In addition, the 12-month rate of the retail prices index increased to a 30-year high of 7.5% during the same month.
- Energy-related prices continued to rise rapidly on an annual basis, with transport fuel and lubricant prices growing by 26.8% year on year (y/y), the ninth successive double-digit increase. This was in line with global crude oil prices rising by 48.4% y/y to average USD74.4 per barrel (pb) in December, the 12th successive y/y gain.
- The ONS also reported an even sharper rise in household energy bills during December after the increased regulatory price cap on domestic natural gas and electricity from 1 October. Natural gas and electricity prices increased by 28.1% y/y and 18.8% y/y in December, respectively.
- Meanwhile, restaurant and café prices increased by 6.0% y/y in December, compared with a gain of 5.2% y/y in November.
- Food prices rose at a brisker rate, increasing by a nine-year high of 4.2% y/y in December from 2.4% y/y in November. This is a worrying development, adding to the cost-of-living crisis facing many UK households.
- The ONS also reported that steeper increases in prices of furniture and clothing contributed to the higher inflation rate during December.
- All-services price inflation was 3.4% in December, up from 3.2% in November; for goods, it stood at 6.9%, up from 6.5% in the previous month.
- Core inflation, excluding energy, food, alcoholic beverages, and tobacco prices, moved up to 4.0% in November from 3.4% in October.
- Germany's final December inflation data based on national
methodology from the Federal Statistical Office (FSO) confirm the
'flash' release of 6 January, posting inflation rates of 0.5% month
on month (m/m) and 5.3% y/y. The latter is up slightly from
November's 5.2% and at its highest level since mid-1992, then
related to reunification. The 2021 average of 3.1% contrasts
starkly with average levels of just 1.5% in 2019 and even 0.5% in
2020. (IHS Markit Economist Timo
- The EU harmonized consumer price index (CPI) measure only increased by 0.3% m/m in December, thus correcting from November's peak of 6.0% y/y to 5.7% y/y. This exceeded the eurozone average of 5.0%, but the gap narrowed compared with November (4.9%). The divergence between Germany's harmonized and national measures of inflation mainly owes to different weights for package tours and this component's extreme seasonality.
- The national core CPI (excluding food and energy) rate increased from November's 3.3% to 3.7% y/y in December, which compares with only 0.4% y/y in December 2020. Roughly one percentage point of this annual rate owed to the temporarily lower VAT rate during July-December 2020, an effect that will unwind now in January 2022.
- Underlying inflation is close to the 3% level at present, which is attributable to rising prices for services and for various commodities and intermediate goods, the latter owing to global supply chain bottlenecks that have persisted for more than a year now. In December, for instance, the annual inflation rate jumped from 1.9% to 5.5% for clothing and shoes and increased from 4.5% to 5.2% in the category of recreation and entertainment (driven by the increase in package tour prices reaching 11.8% y/y). Consumers have both the means - via accumulated savings - and the urge to satisfy pent-up demand from previous lockdown periods. This gives companies the leeway to pass on their higher costs.
- Volkswagen (VW) and Bosch have signed a memorandum of understanding (MoU) to work towards exploring 'the establishment of a European battery equipment solution provider', according to a joint company statement. The two companies will work together to design a production platform to supply 'integrated battery production systems as well as on-site ramp-up and maintenance support for battery cell and system manufacturers.' The aim of the MoU is to eventually establish a joint venture (JV) business that will provide a cost and technology leadership 'turnkey' production solution for existing battery manufacturers. As part of the MoU's work, VW and Bosch aim to develop a production system that will employ a 'local for local' production approach, as much as possible, in order to maximize supply security, create simpler logistics networks and lower the environmental impact of the plants as much as possible. The rationale behind the partnership is the two companies' complementary areas of expertise, with VW - Europe's biggest carmaker - also moving towards becoming a large-scale battery manufacturer, Bosch brings significant knowledge in factory automation and systems integration. This is a smart move by VW as it can partner with Bosch to supply a turnkey battery cell production solution for its own plants, while also selling the production technology solution to other battery cell companies that want an easy and cost-effective way of establishing a presence in Europe, or indeed, elsewhere. The MoU also gives Bosch a route to become involved in the European battery manufacturing industry, which will undergo immense growth over the next decade. (IHS Markit AutoIntelligence's Tim Urquhart)
- Per capita consumption of potato in Germany was 59.4 kilograms
in the 2020/21 marketing year (July 2020-June 2021), about 2.0 kg
more than in the previous year, according to data from the Federal
Agricultural Information Center (BZL). (IHS Markit Food and
Agricultural Commodities' Cristina
- Demand for fresh potatoes rose against a downward trend for processed products. Fresh table potato per capita consumption is estimated at 24.2 kg, about 3.0 kg more y/y, while French fries, potato salad or potato chips, fell by 400 grams. The main reasons are the Corona-related restrictions on out-of-home consumption and increased meal preparation in private households.
- Due to a sharp decline in sales of processed potatoes, in particular French fries, part of the crop was earmarked to starch factories or became livestock feed. In the 2020/21 marketing year about 68% of potatoes used domestically were for food consumption (against 70% in 2019/20), 14% for starch (13% in 2019/20), 8% as seed potatoes (9% in 2019/20), and 4% as feed (3% in 2019/20). Losses were about 6% (5% in 2019/20).
- Cultivation area smaller again for the first time in 2021. The potato cultivation area in 2021 was 258,300 hectares - around 6% less y/y. This was the first time since 2016 that the cultivation area did not expand continuously. The preliminary harvest volume fell by a good 9% and amounts to 10.6 million tons.
- Navya will showcase fleet of autonomous shuttles running without an operator on board at the Autonomy Paris exhibition, according to a company statement. Navya said NavyaDrive and NavyaOperate are the two solutions that make up the software foundation of their autonomous vehicle (AV) system. At the exhibition, Navya will demonstrate its shuttles monitoring the environment autonomously and self-diagnosing their operations. Sophie Desormière, CEO of Navya, said, "These new developments provide transport operators with the critical functionalities to remotely control a fleet of autonomous vehicles. They improve service availability and ensure the safety of all shuttles and their passengers. This is a key achievement for Navya to launch the commercialization of its Level 4 solutions". Navya focuses on deploying Level 4 autonomous systems on a wide range of vehicle platforms. The company launched its Autonom Shuttle more than five years ago and claims to have sold more than 191 units across 23 countries as of June 2021. In 2017, Navya introduced Autonom Cab, which can carry six passengers at speeds of up to 55 mph. The company has also launched Autonom Tract for autonomous transport of goods. Recently, Navya launched the 6.X version of its AV system Navya Drive. (IHS Markit Automotive Mobility's Surabhi Rajpal)
- Following two public consultations, most recently between mid-June and end-August 2021, Spain's Official State Gazette published a new regulation on 17 January regarding advertising of crypto-assets for investment purposes, which will become effective one month later. The stock market regulator, the National Stock Market Commission (Comisión Nacional del Mercado de Valores: CNMV), drafted and will supervise the new requirements. For mass advertising, involving materials targeting 100,000 people or more, a "prior communication regime" will apply. Details of planned campaigns must be communicated to the CNMV at least 10 days in advance, with the CNMV entitled to block them, delay their commencement, or demand changes. All materials must be "clear, balanced, fair and non-misleading", and must warn investors that crypto-investments are unregulated and "may not be appropriate" since "the full amount invested may be lost". Additionally, vendors should attach links that explain risk factors in greater detail. The new rules apply both to crypto-asset service providers and the advertising sector, but continue not to regulate the assets themselves. The CNMV already intervened in November 2021 when footballer Andrés Iniesta recommended the Binance crypto-currency trading portal on social media; the CNMW responded by flagging "relevant risks" to investors from unregulated products. The CNMV measures align with wider concerns expressed by representatives of the European Central Bank (ECB), EU financial regulators, and national authorities over the risks of misleading private investors and inappropriate marketing. (IHS Markit Country Risk's Brian Lawson)
- Uber has partnered with energy supplier Repsol to accelerate electric vehicle (EV) adoption for its drivers in Spain, according to a company statement. Uber drivers using EVs or plug-in hybrid vehicles (PHEVs) will be able to use Repsol's electric charging points in Spain. Through this agreement, Uber drivers will also have access to a comprehensive home charging solution at a competitive price that includes advice, installation, maintenance, and operation of the charging point at home. In addition, Uber divers will have access to two free charges per month at public charging points as well as 50% off the charge price in Waylet, Repsol's payment app, for those who sign up for Repsol's home electricity tariff. The partnership will begin in Madrid and will then be extended to other cities in the country. Juan Galiardo, managing director of Uber in Spain, said, "As the largest mobility platform in Spain, we have a key role to play in the fight against climate change and the promotion of a more sustainable economic recovery. Today we are taking a big step in our commitment to become a zero-emissions platform by launching the first 100% electric product in Spain. In addition, we are partnering with an energy company such as Repsol to support drivers who work with our platform and facilitate their transition to electric vehicles." (IHS Markit Automotive Mobility's Surabhi Rajpal)
- According to S&P Global's news outlet, foreign-owned bank
UniCredit SpA, Russia's 12th largest bank by assets, is aiming to
acquire PJSC Bank Otkritie Financial Corporation, the country's
sixth-largest bank. The merger, if it takes place, would create the
fourth-largest entity in the Russian banking sector by assets.
Otkritie has been owned by the Central Bank of the Russian
Federation (CBR) since it took it over after severe liquidity
strains in 2017. Prior to that, it was the largest privately owned
bank in Russia. The CBR in August 2021 released its intention to
offload shares in Otkritie, in the hopes of completely removing its
stake in the bank. (IHS Markit Banking Risk's
- While Unicredit appears not to be the only bank interested in acquiring Otkritie, its recent attempts to expand its operations (such as through Banca Monte dei Paschi di Siena SpA in Italy, which was unsuccessful because of valuation discrepancies between the relevant parties) suggest that it has the funds and strategic aims to concretize a merger.
- The latest developments in Otkritie suggest that its sale would not impose a burden on the sector as it has improved its balance sheet and has progressively become more efficient. Additionally, given its extensive network of operations across most of Russia, it could expand UniCredit's coverage domestically.
- Otkritie was one of the affected entities of the Moscow Garden Ring crisis in 2017, becoming the first bank to experience liquidity problems. In the years prior to that crisis, Otkritie had experienced very high levels of credit growth, prompted by related-party lending. The rapid levels of growth eventually eroded the trust of its depositors, leading to liquidity strains.
- Since its takeover by the CBR, Otkritie has refocused its efforts towards embracing digital technologies across its businesses. This acquired efficiency has translated into increased net interest margins, standing at 4.8% in September 2021, when last reported. Consequently, it has grown at a fast rate, particularly through 2021, where the total group assets grew by 9%, reaching RUB3,780 billion (USD49.3 billion), largely because of credit growth in the retail and small and medium-sized enterprise (SME) segments.
- The gross loan portfolio has also shown signs of improvement, with the non-performing loan (NPL) ratio falling to 6.1%, from 7.7% at the end of 2020, and the NPL coverage ratio increasing to 95.0%, from 86.0% as of end-2020, in the third quarter of 2021.
- Most major APAC equity indices closed lower except for Hong Kong +0.1%; Mainland China -0.3%, South Korea -0.8%, Australia -1.0%, India -1.1%, and Japan -2.8%.
- The People's Bank of China (PBOC) announced a cut to the
medium-term lending facility (MLF) rate on 17 January. The PBOC
injected CNY700 billion worth of one-year MLF loans to replace the
CNY500 billion worth of matured loans, with the rate lowered to
2.85% from 2.95% in previous operations. This marks the first cut
since April 2020. (IHS Markit Economist Yating
- The PBOC also announced seven-day reverse purchase rate cuts worth CNY100 billion, with the interest rate lowered by 10 basis points to 2.1%.
- The central bank's decision to cut policy rate in January 2022 - following the reserve requirement ratio cut, introduction of structural tools, and loan prime rate (LPR) cut in December 2021 - is in line with the authorities' pledge early this month to roll out monetary policies that support economic stabilization. It points to the increasing downward pressure on the economy, with the continuous real estate market weakness and spread of the Omicron variant of COVID-19. Expectations of a US rate hike also accelerated mainland China's monetary easing. We expect a corresponding cut to mainland China's LPR on 20 January 2022.
- BYD has entered into a joint venture (JV) with FAW Group (FAW) in China for electric vehicle (EV) battery development, manufacturing and sale, reports Yicai. BYD holds 51% of the JV through a wholly owned subsidiary while FAW holds the rest 49% through a wholly owned investment company. The two are said to be planning to build a production facility for EV batteries with an annual capacity of 45 GWh in northeastern China. The factory is to be built in three phases and will supply blade batteries for FAW's electric vehicles. (IHS Markit AutoIntelligence's Abby Chun Tu)
- Chinese battery manufacturer CATL has launched its battery-swapping service brand, EVOGO, in China. Through its wholly owned subsidiary, Contemporary Amperex Energy Service Technology (CAES), CATL says that it will soon begin to provide battery-swapping services in 10 cities in China under this new brand. The battery manufacturer demonstrated its battery-swapping solution at an online launch event and provided technical details regarding the design of its battery blocks, battery-swapping station, and service app. According to electrive, the battery block, which CATL is calling 'Choco-SEB', has adopted the company's cell-to-pack technology, in which the cells are integrated directly into the battery pack. "SEB stands for Swapping Electric Block and 'Choco' is meant to refer to the SEB's appearance, which is meant to resemble a bar of chocolate," said electrive. Thanks to the cell-to-pack technology, each of the Choco-SEB blocks can provide high energy density in a compact size. The battery block's energy density is said to be 160 Wh/kg and each of the battery blocks can provide a range of 200 kilometers. According to CnEVPost, CATL says that its battery-swapping service can be adapted to 80% of the world's vehicles already on the market and those due to be launched in the next three years on pure electric platforms. The battery manufacturer also showcased its battery-swapping station at the EVOGO brand launch. The battery-swapping station occupies only three parking spaces and takes approximately one minute to change a single battery block. CATL has also announced that the Bestune NAT, a model from the FAW Group, will be the first model to feature its battery-swapping system. However, the battery manufacturer has not provided any details about the Bestune NAT at this stage. CATL is the latest of an array of companies to announce plans to support the roll-out of EV battery-swapping stations in China. The field of battery swapping has attracted growing interest from both Chinese and foreign players in the past two years. In November 2021, British oil giant BP signed a deal with China's Aulton New Energy Automotive Technology (Aulton) to provide battery-swapping services in Guangzhou, Guangdong province, while Geely has also said that it will introduce a battery-swapping service brand this year. (IHS Markit AutoIntelligence's Abby Chun Tu)
- Chinese electric vehicle (EV) startup AIWAYS is said mulling over plans to produce vehicles in Europe, reports elective citing Alexander Klose, head of AIWAYS's overseas operations. Klose told German publication WirtschaftsWoche in an interview that a location has yet to be determined but the company would prefer to use an existing plant. He also stressed that these considerations are "still at the very beginning". AIWAYS's production plant in Shangrao (China) has capacity for 150,000 units and can be expanded to produce up to 300,000 vehicles per annum. The startup currently ships its vehicles from China to Europe. Although Klose did not rule out the possibility of launching production in Europe, it still seems too early for the startup to consider making substantial investment in production capacities in Europe. In Europe, AIWAYS has already started sales in Germany and plans to enter 10 countries this year, leveraging its two battery electric models, the U5 and U6. Last year, AIWAYS started co-operation with Italian auto distributor, Koelliker Group, to launch the AIWAYS U5 in Italy. The U5 is also available in Sweden under partnership with Andersen Motors. (IHS Markit AutoIntelligence's Abby Chun Tu)
- Honda has announced that it signed an agreement with Boston-based SES Holdings in December 2021 for joint development of lithium-metal secondary batteries, reports JCN Newswire. The Japanese automaker plans to acquire approximately 2% of the shares of SES when it lists on the New York Stock Exchange (NYSE). The two companies will pursue joint research for the realisation of safe, high-durability, and high-capacity next-generation electric vehicle (EV) batteries. Honda's managing executive officer in charge of electrification, Shinji Aoyama, said, "The battery is an essential component of EVs, and Honda has been concurrently looking into several options toward the realization of high-capacity, safe and low-cost next-generation batteries. Recognizing the advanced technologies of SES, Honda signed a joint development agreement with SES with the aim to establish a good relationship with SES and expeditiously generate substantial achievements through our joint research activities. Honda will continue to establish collaborative relationships with companies which have advanced technologies, as needed, to offer highly-competitive and attractive EVs to our customers." (IHS Markit AutoIntelligence's Nitin Budhiraja)
- South Korean President Moon Jae-in held talks with Saudi Arabia's Crown Prince Mohammed bin Salman to co-operate on fields including hydrogen. During the talks, the two leaders have agreed to build a hydrogen ecosystem where Saudi Arabia will supply carbon-neutral hydrogen and ammonia while South Korea will support the Arab nation in operating hydrogen-powered cars and hydrogen facilities such as fueling stations. Moon also confirmed that the two nations have expanded co-operation beyond construction, infrastructure and energy by signing 14 preliminary agreements on areas of manufacturing, energy and public health as well as hydrogen, reports The Korea Herald. The latest development is in line with the South Korean government's aim to improve air quality in the country by bringing down particulate levels, increasing the adoption of alternative-powertrain vehicles, fostering hydrogen-related businesses as future growth drivers, and reducing the country's heavy reliance on imported oil. South Korea is one of Saudi Arabia's key strategic partners for its Vision 2030 policy, under which the country aims to reduce its reliance on oil and develop its public service sector. Saudi Arabia plans to increase hydrogen production to 400 tons per year by 2030, to achieve carbon neutrality by 2060. (IHS Markit AutoIntelligence's Surabhi Rajpal)
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The revolution is not around the corner.
Despite the fact that the implementation of the communication standard of the fifth generation will start in 2019, Apple is not going to hurry. The release of the iPhone with support for 5G is scheduled for a later date to eliminate all possible problems and present a truly revolutionary device.
As suggested earlier this week, the release of the iPhone with support for 5G networks will take place no earlier than 2020. It’s a bit later than other manufacturers, who intend to show their 5G smartphones in the next year. The postponement of the release of the iPhone with support for 5G at a later date is associated with two important factors.
First, Apple has a fairly complicated relationship with Qualcomm because of the protracted patent dispute. While Qualcomm is a leader in the development and implementation of the 5G standard, best practices to be reckoned. She has already demonstrated after the release of the world’s first 5G modem Snapdragon X50, providing data transfer speed 4.5 GB/s.
Second, the traditional pedantry Apple in developing and testing devices will not allow her to release “raw” product. Support for revolutionary communication standard of the fifth generation will require the installation of 5G modem of the iPhone, and long and laborious work on its integration. According to experts, for normal signal reception in smartphones with support for 5G must be installed four to eight antennas.
All this together makes the production of iPhone with support for 5G quite a challenge. However, Apple still has time to work on the iPhone because the mass distribution of smartphones with support for 5G networks will not begin before 2020. It is expected that by 2022 5G smartphones will occupy 97% of the mobile market.
Source: Gizchina, Gizchina


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With little fanfare, the European Union has launched a huge climate experiment. On October 1, the EU kicked off the initial phase of a Europe-wide tax on carbon in imported goods. This marks the first time a carbon border tax has been tried at this scale anywhere in the world. Europe’s experiment could have ripple effects across the entire globe, pushing high-emitting industries to clean up their production and incentivizing other countries to launch their own carbon taxes. It may well end up being the most important climate policy you have never heard of.
“This is an excellent example of wild ambition on the regulatory front,” says Emily Lydgate, a professor of environmental law at the University of Sussex. Nothing approaching the scale or ambition of the EU’s carbon border tax exists anywhere in the world, although California has a very limited version of its own carbon tax on energy imports. “It’s very novel to roll this out in such a big market. The perturbations throughout the system are pretty huge.”
So how does it work? The Carbon Border Adjustment Mechanism (CBAM) is essentially an import tax on carbon-intensive products, such as cement, steel, fertilizer, and electricity. Since 2005, the EU has levied a carbon price on highly polluting industries within its own borders, requiring manufacturers to buy credits to cover the carbon they emit or risk heavy fines. Businesses receive a certain number of free allowances, but to emit more carbon they must pay around €80 ($75) per metric ton for the privilege—one of the highest carbon charges anywhere in the world.
You might sense the problem with this system. China, for instance, doesn’t levy a carbon tax on steel, which means it can undercut the EU steel industry. And EU companies looking for a good deal will likely turn to countries with the cheapest steel prices. The CBAM is an attempt to level this playing field. Under the new regime, an importer of Chinese steel will have to purchase carbon credits that correspond to the same rate as steel produced in the European Union. That is the crux of the CBAM—making sure that the carbon in high-emission products is priced at the same rate, no matter where those products are produced.
“The EU is trying to export its price on carbon to the rest of the world,” says Marcus Ferdinand, chief analytics officer at carbon consultancy Veyt. For now, the CBAM is still in a soft-launch stage. From October 2023 to December 2025, importers of goods covered by the CBAM will need to declare emissions in those products, but they won’t have to buy any carbon allowances. From 2026, however, importers will have to buy CBAM certificates to cover these “embedded” emissions.
Even this transition stage is a pretty big deal, says Lydgate. The new rules will initially apply to imports of cement, iron, steel, aluminum, fertilizers, electricity, and hydrogen. This means that all of these importers and manufacturers will have to start quantifying their emissions to make sure they don’t fall foul of the CBAM. “Just by being the first mover on this, the EU is catalyzing this huge upskilling of firms around the world in having to do something which they haven’t really had to do on a mandatory basis,” says Lydgate. Other high-emission goods, such as crude petroleum, synthetic rubber, and other metals, may be added in later versions of the CBAM.


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Today’s beef summit in Dublin Castle seems to have been a positive affair. Not quite a love in, but after the Department of Agriculture, Food and the Marine, hosted farming organisations and meat factories, Teagasc, Bord Bia, the ICBF, ICOS and Animal Health Ireland all seem to have left in positive spirits.
After a half day of discussions, the Minister set out a seven-point plan which he says will help steer the industry in the right direction. Most notably, the plan includes quarterly meetings, chaired by the Minister himself with the industry stakeholders. The Minister has also asked Michael Dowling to review implementation of the Beef Activation Group report. This group, which was set up in 2011, went even further than Food Harvest 2020 in its projections and hopes for the beef industry. Food Harvest 2020 sought to increase output in the industry by 20% – the Beef Activation Group upped this figure to 40%. That’s a significant increase and one that won’t happen easily.
Interestingly, the main retailers were not at today’s beef summit. Not having the retailers at the meeting was a mistake. Comparing bull beef figures though shows that very little bull beef is being killed out at the specifications the UK retailers want. Since 2001, the average bull beef carcass weight in the UK has been 351kg with little deviation off this. The average weight in Ireland is 374kg, with a much wider variation in weights. Irish beef exports, by volume, in 2013 showed that the UK took 48% of our beef, France 10%, Italy 6%, Holland 8% and other EU countries 26% and the rest of the world 2%. If the UK retailers want certain specifications it would make sense to hear it from the retailers first hand and invite them to the table.
Until that time, the industry must work together and use today as a starting point from which it can benchmark itself and hopefully improve farmers’ margins. Regardless, until the discussions and projections and promises turn into a better financial return for farmers, it’s all just hot air.


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The U.S. chip producer Atheros has decided to forward the development of Linux drivers for the 802.11a/b/g-WLAN chip by making the Hardware Abstraction Layer code (HAL), available under an open source license.more »
A bug in the series 2.6.27-rc Linux kernel can permanently damage Intel's e1000e Gigabit Ethernet card. Linux distributor Mandriva offers a few suggestions -- and not only to its own customers.more »
The openSUSE project warns owners of systems containing the Intel e1000e gigabit Ethernet card against using the actual Beta 1 of openSUSE 11.1 instead of the Linux kernel version. The Linux version can permanently damage the card.more »
In a New York press conference, Google and T-Mobile partnered with hardware vendor HTC to announce the release of the first mobile phone for Google's Android platform.more »
At the IFA consumer electronics show in Berlin, Germany, (August 29-September 3), Chinese hardware vendor HiVision showcased a Linux laptop that is to cost a mere $98.more »
Dell plans to put more netbooks on the market soon, starting with the Inspiron 910.more »
Starting shortly, Dell will be supplying its Linux computers with Ubuntu 8.04.more »
Klaus Knopper is the creator of Knoppix and co-founder of the LinuxTag expo. He currently works as a teacher, programmer, and consultant. If you have a configuration problem, or if you just want to learn more about how Linux works, send your questions to: klaus@linux-magazine. commore »
Version 16 of the popular Linux desktop reveals new tools, edge-snapping, and performance improvements.
Symantec says Linux-Darlioz burrows in through PHP.
Dell renews its quest for the ultimate developer machine.
Innovative back door looks like normal SSH traffic.
One of CeBITs most successful forums opens the new year with a new name. The popular Open Source Forum continues in 2014 under the name Special Conference: Open Source. This year, the forum will be bigger and offer a wider range of possibilities for sponsors.
New release offers better graphics drivers and expands filesystem support.
New mail protocol will shut out the NSA and prevent snooping on metadata.
A new web application helps users visualize distributed denial-of-service attacks.
Ubuntu 13.10 takes a step toward convergence, with lots of mobility, but Mir only partly here.
Galileo board is targeted to embedded developers and educational institutions.


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MUMBAI: After revising steel prices upwards last month, steel firms are now offering discounts as customers are keeping off the market, say industry sources.
"Due to demand slowdown steel companies have started offering discounts as customers are unwilling to absorb the revised price announced in September," say sources in the industry.
They also say though there is no formal rollback of the price revision, discounts are offered to offset the revised prices.
In September, major steel companies had increased prices by Rs 1,200-1,500 per tonne on the back of rise in input cost due to sharp depreciation in rupee.
However, subdued steel demand from major user industries like auto, construction are now forcing them to offer discounts on revised price points.
When contacted, leading steel makers refused to come on record.
Steel demand during the first five months of the fiscal grew only 0.5 per cent due to the overall slowdown.
Analysts have pegged steel demand growth to be around 3 per cent in the current fiscal due to the low base effect and some pick-up in demand in the second half of the current financial year.
Referring to discounts, senior analyst (metals and mining) at Angel Broking Bhavesh Chavanopined that the broking firm had earlier indicated towards this possibility due to weak demand scenario.
Notably, many steel firms had to roll-back price rise earlier in the year due to similar demand situation.


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Roberts Bakery has five new bespoke bread transport trucks, thanks to its contract with Bibby Distribution.
The 7.5-tonne DAF LF rigid trucks were commissioned by Bibby Distribution in response to a custom specification requested by Cheshire-based business Roberts. They are intended to support Roberts’ growth into new regions.
The new vehicles incorporate a warm-air system that keeps perishable goods in peak condition for as long as possible, meaning all customers can enjoy oven-fresh bread.
Mark Owen, Roberts’ logistics director, said: “As the only bread brand in the UK investing in third-party distribution, we’ve seen our market reach grow substantially thanks to Bibby Distribution.
“This creates an interesting challenge for us - with customers now buying from further afield, how can we ensure they can enjoy bread as fresh as our local customers have come to expect?
“The answer is the company’s commitment to innovation, meaning that customers in Northampton can buy bread that is as fresh as when it left Northwich.”
Last month Roberts sponsored the food halls at the Royal Cheshire County Show, and used the opportunity to present an educational bakery programme.


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Co-Working and the Sharing Economy Converge in Short-Term Home Office Rentals
Danica Kirka, Associated Press
The growth of short-term home office rentals poses yet another potential threat to hotels' traditional stronghold on meeting and event, or alternative work spaces. Smart hotels should, like Ian Schrager recently suggested, start thinking about getting into the co-working game to convert potentially empty, unbooked meeting spaces.
2 years ago


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A malnourished dog that recently had puppies was abandoned and tied to a shopping cart at the Walmart in Commack, the Suffolk County SPCA said Wednesday in offering a $2,000 reward to find the owner.
The gray pit bull, found Monday, was lactating and may have given birth eight to 10 weeks ago, so investigators are concerned her puppies may need her, said Roy Gross, chief of the Suffolk County Society for Prevention of Cruelty to Animals.
The dog was found about 8 a.m. Monday after a truck driver making deliveries to Walmart saw a man with a dog on a leash push a cart toward the back of the delivery area, then go into the store by himself.
Store surveillance cameras caught the man coming out of Walmart with dog food and a doghouse, which he placed into a silver sedan, Gross said.
Then he walked into a nearby Home Depot, having either changed his striped, polo-type shirt or taken off his outer shirt because it was hot, the SPCA chief said. He came out with cables and other supplies that can be used to make a dog run, he said.
The veterinarian believes the abandoned dog has had several litters, despite her young age, about 11/2 years old, Gross said.
"We feel he used this dog, and it was used up and he discarded it, like an old car," Gross said.
The dog is sweet and friendly but has a skin infection because she is malnourished, the SPCA head said. She was taken to a veterinarian by the trucker's wife and is now in a foster home, he said.
In the store surveillance footage, the dog's owner appears to have a tattoo on the right side of his neck and right arm, Gross said.
Anyone with information may call the SPCA at 631-382-7722. All calls will be kept confidential.


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Windows 7 Smartphones Unveiled
Microsoft CEO Steve Balmer unveiled the final version of the Windows 7 mobile operating system on Monday. The Windows 7 OS will run on 9 different smartphones from manufacturers like LG, Samsung and Dell. The new phones will premiere on AT&T’s network November 8th and will expand to T-Mobile, Verizon and Sprint in the next few months.
Will Apple Wait on 4G Compatible iPhones
Apple is reportedly going to wait before making iPhones that will work on AT&T or Verizon’s 4G networks. Sources say that Apple is concerned that the chips required for the LTE 4G standard would be too “bulky” or “power hungry.” Apple will likely wait until 2012 when the 4G network is completely rolled out to deploy 4G compatible devices.
Malaysians Have More Friends
Malaysians have the most friends on social networking sites and people in Japan have the least number of friends, according to the British research agency TNS. On average, Malaysians have 233 friends on social networks and spend 9 hours a week on the sites, compared to the Japnese who have 29 friends on average.
Are iPhone Apps Stealing TV Viewers?
“Is the iPhone the next American Idol?” The Flurry Network, maker of social games, believes that iPhone apps are competing directly with television networks for viewers. The Flurry Network boasts a daily audience of 19 million users who average 22 minutes per day on the site. Will the ad dollars follow?
Shelly Palmer and Ali Velshi Discuss Web Browser Wars On CNN


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boygenius have introduced their first-ever UK headline exhibits. The trio of Phoebe Bridgers, Lucy Dacus and Julien Baker will carry out at London’s Gunnersbury Park on August 20 and Halifax’s The Piece Corridor on August 22. Ethel Cain and MUNA will open their outside London gig, with Cain additionally becoming a member of them for the latter present and extra particular company for each dates to be introduced quickly. Tickets will go on sale from 10am GMT on Friday, March 3.
boygenius are gearing as much as launch their debut album, The File, on March 31 through Polydor/Interscope Data. Thus far, they’ve previewed the follow-up to their 2018 self-titled EP with the singles ‘$20’, ‘Emily I’m Sorry’, and ‘True Blue’.
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WAMEX announces the sixth and last investment of its Mexico PE Fund MIF II, with DEG as co-investor
November 11, 2013. – Mexico City based WAMEX Private Equity announced the sixth and final investment of its second growth equity fund – MIF II – in Bodesa. S.A.P.I. de C.V (Bodesa) in the amount of US$ 32 million, jointly with DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, a German development bank and member of the KfW Group.
Bodesa is a leading retailer in Mexico’s Pacific region, offering consumer and household products supported by quality service and consumer credit that seek to improve its customers’ quality of life.
WAMEX was the first manager to rise institutional funding from Mexican pension funds via a publicly listed CKD vehicle, and also raised additional commitments for MIF II through a parallel partnership.
WAMEX has completely invested MIF II commitments in six Mexican companies: Hoteles CityExpress (budget business hotels), HDS (healthcare IT), Water Capital (sustainable solutions and financing), MEDIX (obesity and overweight pharmaceuticals), KUA Mex Foods (food and beverages platform), and now Bodesa (Retail).


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IBM Adapts Social Networking App For Mobile Devices
Connections is IBM's answer to social networking sites like Facebook and Twitter and applications like Salesforce.com's Chatter. It includes the Profiles social networking service, user communities, a wiki system, a blogging service, file-sharing capabilities, an Internet forum and other services.
Eighty-six percent of business workers currently use social media to help them make business decisions, IBM said.
IBM is now offering versions of Connections that run on the Apple iOS, BlackBerry and Android operating environments. The mobile software, which links with the server Connections app, is available as a free download from Apple, BlackBerry and Google Android app stores.
More employees are using their personal mobile devices for work and securing data on those devices is becoming a burden for IT managers, IBM noted.
The company's new, "Partial wipe for Apple iOS devices" provides a way for IT administrators to delete company data from an employee's iPhone or iPad while preserving the device owner's personal data and applications.
IBM also is expanding the capabilities of its Sametime IM and unified communication application for Android and BlackBerry devices. Sametime on Android now offers text-to-speech for reading incoming messages, the ability to send photos through Sametime chats, and the ability to automatically update location status. On BlackBerry devices users can now participate in online meetings through Sametime.
A new Lotus Notes Traveler "click-to-call" capability, currently in beta, allows IBM e-mail users to call people listed in the Android OS device calendar with a single click. And a version of LotusLive Meetings for Android-based devices is planned for later this year, IBM said.


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Former Smiley Exec Launches Licensing AgencyFormer Smiley Exec Launches Licensing Agency
Former Smiley marketing director Matt Winton has set up a new licensing specialist marketing agency.
September 4, 2018
The new company, named Licensing Communications, is a digitally focused agency that leverages Winton’s experience and network as well as a large pool of designers, creatives and developers to help brands and licensees increase their profitability.
“The future of modern brand building lies in creating meaningful and memorable experiences, particularly as new shopping behaviors emerge amid the fiercely competitive retail environment today," says Winton. "It’s no longer just enough creating products and waiting for consumer purchase intent; you have to go out and create this yourself through a joined-up product and marketing strategy.”
Licensing Communications approach offers a new approach to implementing campaigns for partners that encompasses public relations, advertising, branding, digital, awards submissions, content creation, web design, retail activations and experiential.
“It’s all about trying to create a deeper connection between your products, your consumers and your supply chain and taking an integrated approach to the full marketing mix,” says Winton.“There’s very few brands in the licensing space that have the structure, marketing budgets and contacts to take their marketing seriously, and the future of their businesses may depend on taking a much more proactive marketing approach. That’s really where Licensing Communications can help by providing a turnkey marketing solution for brands, at a fraction of the cost of resourcing an in-house team.”
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Sandy Still Affecting NJ Rental Market
By Phil Gregory, WBGO News
May 8, 2013
Superstorm Sandy is still having an impact on renters at the Jersey Shore.
Donna Blaze is CEO of the Affordable Housing Alliance in Monmouth County.
She says many renters displaced by the storm relocated out of the area.
“Those that remain that were borderline moderate income are now being displaced subsequent to the storm because the market is so tight in terms of rental housing that the landlords now have the capacity to raise rates to a new market level.”
Blaze says that may change who lives at the shore.
“With a zero percent vacancy rate and the rents as high as they are and already being in a state which is one of the most expensive places to live in America, the competition is just going to be too great for the low and moderate-income person to seek housing.”
Blaze says many renters who’ve relocated elsewhere may never return.
“If you move to Pennsylvania or Delaware or New York or Connecticut or some place and it takes three to four year for you units to be rebuilt than the likelihood is you’re not going to come running back.”
Blaze says the departure of renters will affect the local labor pool.
“As the amusement parks and as the restaurants and as the retail shops come back on line there’s going to be a limited number of people to be available to work in those things and they’re not the kinds of jobs that justify you commuting 40 miles to.”
© 2013 WBGO News
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The laws surrounding cannabis and hemp-based products in the USA vary from state to state. While many states have legalized not only possession and use of cannabis but also permitted the growth of a number of plants in the home, others have decriminalized the use of the substance. Yet more, of course, still have laws that make using or having on one’s possession even the smallest among of weed a criminal offence.
Texas is one state in which the use of cannabis is still a crime. This is why established online stores such as Vape4ever are hoping Texas falls into line with other states and allows for the use of cannabis for personal use. Some hemp-based CBD products are allowed. However, a recent change in the law saw products with the classification Delta-8 being banned. What’s it all about? Let’s move on and have a look.
Why Was the Ban Enforced?
The reason why the ban was enforced is confusing but is inspired by the fact Delta-8 products contain an amount of tetrahydrocannabinol, or THC. This is the psychoactive element in the marijuana plant the produces the familiar ‘high.’ The courts found that according to state law such products exceeded the THC limits permitted and ruled them illegal.
This had a detrimental effect on many brands who had such products, including a leading brand called ‘Hometown Hero’ which mainly sold Delta-8 products. They launched an injunction against the courts insisting that the ban on Delta-8 – a stronger form of THC than others – was not within federal laws. The courts found that there is more needed to come to a definite conclusion and upheld the Hometown Hero case.
The ban on Delta-8 products is now temporarily withdrawn. What does this mean for retailers and users?
What does the Injunction Mean?
As founder of Hometown Hero Lukas Gilkey said in a video announcing the injunction:
“We got the injunction. We are good to go. You are free to sell delta-8 in Texas as of right now.”
It would appear that they and other such brands believed any product that contained any level of THC to the required 0.3% dry weight would be legal in the state of Texas. It seems that there is considerable confusion over the applicable laws and what they decree, and this needs to be cleared up to avoid any further mishaps in the market.
It is worth remembering that while cannabis is legal in certain states it is still considered and illegal substance in US Federal Law, a further confusion that adds to the complexity of cannabis in the USA.
Is Cannabis Legal in Texas?
This confusion surrounding the legality of cannabis in Texas can be summed up: at present, it is against the law to purchase, possess or use cannabis in the state, or to grow plants in your home. However, according to the latest injunction, all types of CBD product made from hemp and containing under 0.3% THC are presently legal to sell and use in Texas. It is certainly worth keeping an eye on the situation as it is sure to change, and you want to remain on the right side of the law when enjoying your CBD products.
The Delta-8 confusion comes about as the USA is split into states, many of whom are akin to different countries to others. The mixture of legal and illegal status and of decriminalized weed and CBD makes it difficult to keep up with the changes. For now, you can sell, buy, or use Delta-8 THC products in the state, but that may not be the case for very long.


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Sony Corp said on Wednesday it sold more than 7 million PlayStation 4 videogame consoles in just over four months to April 6, double the number of the older version, PlayStation 3, sold in about the same time frame after its launch.
Sony is struggling to keep pace with demand for the videogame console, the Japanese company said in a statement.
"Although we are still facing difficulties keeping up with the strong demand worldwide, we remain steadfast in our commitment to meet the needs of our customers," Andrew House, president and group chief executive officer of Sony Computer Entertainment, said in the statement.
Sales have outpaced those of PlayStation 3, which sold 3.5 million units between its launch in November 2006 and the end of March 2007, a Sony spokeswoman said.
The $399 PlayStation 4 went on sale on Nov. 29 in the United States, Western Europe and Latin America, around the same time that rival Microsoft Corp's Xbox One was released.
Sales of Xbox One, which is priced at $499, topped 3 million units at the end of last year. To fire up sales, Microsoft last month began offering a $450 bundle that included the console and the exclusive shooter game "Titanfall" from Electronic Arts Inc.
PlayStation 4 software sales - retail and digital - totalled 20.5 million copies worldwide by April 13, Sony said in the statement.
Gamers can expect to have a choice of 120 PlayStation 4 titles in 2014, including "Destiny" from Activision Blizzard Inc and "NBA 2K15" from Take-Two Interactive Software Inc, according to the statement.
© Thomson Reuters 2014


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Apparently, Tesla only sold 120 cars in all of China last month. Mr. Stark... I mean, Musk is threatening to start firing Tesla China managers if they don't rectify this pronto.
Story developing, just off the Reuters ticker on my desktop at work.
ETA: Tesla stock just erased all of it's gains for the day, someone just shat out 4,500 shares onto the market at 3:23 EST. Apparently, Tesla is declaring 2014Q4 earnings tomorrow.
Also, do you have any idea how difficult it is to find an "angry" pic of Elon Musk online?! He's apparently the happiest guy in earth (always smiling).


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The Reserve Bank of India (RBI) has issued the guidelines limiting consumers’ liability in case of unauthorised transactions that have taken place from their mobile wallets. As per the guidelines, Prepaid Payment Instrument (PPI) issuers will be required to provide a contact number and/or email ID in the transaction alert SMS through which consumers can report the unauthorised transactions or notify objections.
If an unauthorised transaction takes place from the customer’s mobile wallet due to the negligence of PPI issuer, then in that case the customer’s liability will be ZERO, as per these new guidelines.
As per the guidelines issued by RBI in a circular dated January 4, 2019, Prepaid Payment Instrument (PPI) issuers such as Paytm, Amazon Pay, PhonePe and so on must ensure that their customers mandatorily register for SMS alerts and also register for email, wherever available, alerts in order to get timely information about electronic payment transaction done using their mobile wallets.
According to the guidelines, whenever any transaction takes place from the customers’ mobile wallet, a mandatorily SMS alert as well as email alert (wherever email ID is available) has to be additionally sent. The transaction alert should have a contact number and/or e-mail id on which a customer can report unauthorised transactions or notify objections.
The central bank has also asked the PPI issuers to provide customers with 24X7 access via website/SMS/e-mail/a dedicated toll-free helpline for reporting unauthorised transactions that have taken place and/or loss or theft of the PPI.
RBI in its fifth bi-monthly monetary policy statement for 2018-19 issued in December, 2018 had announced that customers using mobile wallets will be provided same safety net as given to the credit/debit card holders.
In the policy statement issued, the central bank said, “The Reserve Bank has issued instructions on limiting customer liability in respect of unauthorised electronic transactions involving banks and credit card issuing non-banking financial companies (NBFCs). As a measure of consumer protection, it has been decided to bring all customers up to the same level with regard to electronic transactions made by them and extend the benefit of limiting customer liability for unauthorised electronic transactions involving Prepaid Payment Instruments (PPIs) issued by other entities not covered by the extant guidelines on the subject. The guidelines will be issued by the end of December 2018.”
Liability in case unauthorised transactions
As per the guidelines, if an unauthorised transaction takes place from the customer’s mobile wallet, then in that case the customer’s liability will be ZERO in case of contributory fraud/negligence/deficiency on the part of the PPI issuer, irrespective of whether or not the transaction is reported by the customer.
|If the customer reports the unauthorised transaction within three days||ZERO|
|If the unauthorised transaction is reported within four to seven days||Transaction value or Rs 10,000 whichever is lower|
|Beyond seven days||As per the Board approved policy of the PPI issuer|
In cases where the transaction has occurred due to the negligence by a customer, the customer will bear the entire loss until he/she reports the unauthorised transactions to the PPI issuer. If the loss occurs even after reporting the unauthorised transaction, then the loss shall be borne by the PPI issuer. This is the same as the rule applicable to credit/debit cards.
Once the unauthorised transaction has been reported to the PPI issuer, the amount shall be credited (notional reversal) to the customer’s account within 10 days from the date of reporting unauthorised transaction.
PPI issuers shall ensure that complaint is resolved and liability of the customer, if any, is established within 90 days period from the date of receipt of complaint.
If the PPI issuer is not able to resolve the issue within 90 days, then amount shall be paid to the customer irrespective whether the negligence is on the customer’s part or not.
The burden of proving customer’s liability in case of unauthorised transaction lies with the PPI issuer.


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She released her first spring/summer collection with isawitfirst in March. And Olivia Attwood proves she's still making strides in the fashion industry as she wowed in skimpy outfits for her second collection with the online fashion house. The reality TV star, 30, released the first images of her collection in
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Events + Festivals
If you've ever craned your neck passing through JFK Airport to get a better look at Eero Saarinen's swooshing, Modernist TWA Terminal, and wondered how to finagle your way in, you'll be happy to hear about Open House New York. For one weekend—October 11 & 12—this city-wide event will open the doors to hundreds of normally off-limits sites in New York City, including the famed TWA Terminal, where Leonardo DiCaprio filmed Catch Me If You Can.
Smithsonian museums are amazing for many reasons—not least of which is the fact that entrance to all of them is free. In honor of this perk, Smithsonian Magazine sponsors the annual Museum Day Live!, when more than 1,500 museums across the country do away with admission fees for one day. This year’s event—the 10th anniversary—takes place September 27.
This fall, thousands of lights will glow in Nevada’s Mojave Desert—and we’re not talking about the neon signs on the Strip. On October 18, the RiSE Lantern Festival will kick off just outside Las Vegas at the Jean Dry Lakebed, forming a visual spectacle of illuminated lanterns, all inscribed with personal messages, floating into the night sky.
Zurich’s Dolder Grand hotel is launching a new annual food festival, dubbed the Epicure.
The Dolder’s own Heiko Nieder, whose talents have earned the hotel’s restaurant two Michelin stars, will host top European chefs during four days of culinary programming, beginning September 18th.
Tickets are on sale now for the Food Network New York City Wine & Food Festival, sponsored by Time Inc. sister publication Food & Wine. Taking place October 16-19, the annual food extravaganza has a few new events we’re excited about: Grammy Award-winning country star and cookbook author Trisha Yearwood is hosting the Down-Home Southern Brunch (Oct.19, $150), while actor/TV personality Mo Rocca will be at the Standard hotel’s biergarten for the Hot Dog Happy Hour (Oct. 17, $99, sold via Groupon). Ample Hills Creamery founders Brian Smith and Jackie Cuscuna are hosting an ice cream-making class (Oct. 19, $200). (If you prefer tasting to making, check out their new bi-level shop in Brooklyn.) Sadly, the nighttime dessert buffet hosted by pastry wizard Dominique Ansel is already sold out.
Come fall, people around the world will be celebrating the season’s bounty with food festivals. Lots of them. While New Englanders gather to taste the best artisanal ciders, coastal communities feast on fresh seafood. In California, it's time to sip wine. Whether you're craving a foodie getaway or are simply in the right place at the right time, these are five of fall’s top food festivals.
CALIFORNIA: Flavor! Napa Valley
This November, join the Culinary Institute of America and the region's top vineyards for a week of wine and food tastings. Culinary superstars Michael Chiarello, Todd English, and Andrea Robinson will be at the helm of vine-to-table signature dinners and hands-on demonstrations. Learn to make your own cheese, and to note a wine's distinct terroir while blindfolded. November 19-23.
New York City
The Berlin Philharmonic and conductor Simon Rattle perform at Carnegie Hall (Oct. 1–6;) before participating in director Peter Sellars’s visionary staging of Bach’s St. Matthew Passion at the Park Avenue Armory (Oct. 7–8).
Want to get in on the action of a high-speed bike race without doing all that leg work? NextGreatTrip, a Denver-based premium vacation service, is partnering with USA Cycling to help you do just that. The USA Pro Challenge Adventure brings participants behind the scenes of "America's Race" in the Colorado Rockies from August 17-24.
“Are you going to a wedding?” a couple of passersby ask as a parade of people dressed in their finest white garb emerge from the New York City subway carrying picnic baskets, folding tables, and chairs.
“No,” the group leader responds—for they are headed to the world’s largest, most highly anticipated pop-up party. Initiated by François Pasquier over 25 years ago in Paris, the Dîner en Blanc has taken the world by storm. Approximately 12,000 people attended the pop-up picnic in Paris this year. The organizers of the New York City dinner, slated for August 25, expect around 4,000 people.
We already know that Munich International Airport is one of the best for a long layover—and now it's even better, thanks to “Surf & Style,” an indoor wave-riding pool located between Terminals 1 and 2.


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The European Commission recently published the 2015 Report on EU Customs Enforcement of Intellectual Property Rights.I While the number of cases (a ‘case’ refers to a detention that may contain one or more articles) dipped slightly in 2015 (95,194 in 2014 vs. 81,098 in 2015), the number of articles infringing an IPR continues to increase, with 43,7 million detained articles in 2015. That represents a 15 per cent increase on the number of items seized in 2014, a total value of over 640 million euros.
Cigarettes top the list of detained articles, accounting for 27% of the overall goods suspected of infringement, followed by other goods (e.g. batteries, glue, design articles, manuals, etc.), toys, and foodstuff. Interestingly, labels, tags and stickers joined the top 5 last year.
In total, 11,239,956 cigarettes were detained, a retail value of 38,803,257 euros. A departure from previous years, a very large part of the detained cigarettes originated from Montenegro (73.55%), compared with China (91.08%) in 2014. In the former Yugoslavia, Montenegro was known for being a haven for cigarette smuggling into Italy, but today, cigarettes from Montenegro and Croatia are smuggled across the border into Bosnia and Herzegovina for local consumption or for sale in Europe.II
Another major difference between 2014 and 2015 is the important increase in counterfeit or pirated labels and other packaging materials. In total, 3,319,198 labels, tags and stickers were detained in 2015 compared with 936,624 in 2014 (254% difference). These articles came primarily from China (67.20%) and are valued at 6,980,515 euros. The increase is mostly due to the fact that China continues to be the main manufacturer of fake goods bearing fake trademarks (41.08% overall in 2015).
By contrast, medicines experienced a significant decrease in product detention, with 895,324 articles detained in 2015 compared to 2,804,569 in 2014 (103% difference). The decrease is most marked in China, who accounted for 88,62% of the share of detained medicinal products in 2014 compared to 18,06% in 2015. Instead, India was in the lead for medicines with 56.80% of the overall amount of products seized.
The overall reduction in fake medicines may be due to both increased attempts by the Chinese government to tackle the production of counterfeit goods in their country,III particularly of their own brands, and continued efforts by European law enforcement agencies, regulatory bodies, public and private sector organizations, and anti-counterfeiting groups to decrease the number of goods infringing an IPR.
As with previous years, the detention of these goods by EU customs resulted in either their destruction (75%) or legal recourse by the right-holder to establish the IPR infringement.
In a press release, Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, said: “I’ve witnessed first-hand the excellent work of customs officials across the EU in dealing with counterfeit and sometimes dangerous goods. But the criminal activity which swamps our internal market with fake and illegal products shows no sign of abating. The Commission will continue to work with customs authorities, international partners and industry to ensure a high level of protection for intellectual property rights in the EU.” IV


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The gourmet coffee market has perked up this year, according to the National Coffee Association of USA Inc. (NCA). Approximately 34 percent of American adults drink gourmet coffee beverages daily, up 3 percentage points from 2013, according to the New York-based association’s “National Coffee Drinking Trends” market research study, which was released in March. Conversely, non-gourmet coffee drinking dropped 4 percentage points to 35 percent, it reports.
The September 2015 issue of Beverage Industry includes a cover story about our Wholesaler of the Year, Andrews Distributing, as well as articles about coffee pods, Geloso Beverage, and sweetener choices in beverages. Check it out today!


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Pandemic-related supply chain problems stretch the new-vehicle shortage into a second year, with near-empty dealer lots, sky-high prices, and months-long waits for new wheels. The prolonged disruption exposes fault lines in the car business’s century-old retailing model and prompts a broader rethinking of the entrenched way Americans buy cars. The laws of supply and demand are driving the market, but strategically dealers are hurting themselves.
A Ford dealer in New Jersey listed a new Broco for $30,000 above MSRP as a dealer adjustment. All across the country, dealers are charging consumers MSRP or above because of the shortage of new cars. Before the pandemic, practically nobody paid above the sticker price for a new car. Last month, an unprecedented 82% of buyers did, according to consumer research site Edmunds.com.
Car companies say they don’t want dealers charging above sticker and, in some cases, are pushing back, but dealerships are independent businesses that control the final transaction. Subaru, Genesis, Hyundai, and Kia have all sent letters to dealers warning that charging over MSRP will not be tolerated. Still, they also admitted there isn’t much they can do about it.
In addition to higher prices, some dealers are forcing buyers to use financing instead of paying cash. One car dealer told a customer that he would have to pay an additional $2,000 for the SUV if he didn’t finance his new Lexus.
Buyers are starting to take notice, and they’re not happy. Some are walking away without purchasing new cars; others are turning to used cars, which have also gone up in price. When I went shopping for a new Kia last year, the dealer told me I had to pay a market adjustment price of $5,000 and that financing was the only way he would let the SUV leave the lot. I walked out disillusioned and determined never to own a Kia.
These tactics are hurting car brands, but the dealers could care less. Already there are rumblings about more branded-owned retailers springing up instead of franchises. Car manufacturers can directly control how their brands are presented and sold if they take control. They spend too much money trying to get people into showrooms to have dealers ruin the experience for buyers.
Disruption is coming to the auto market, and it will be sooner than later. The power of buying WILL shift back to consumers, and those greedy car dealers who have burned will have a lot to say.


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LG has announced the winners of its Global Ambassador Challenge in South Africa, marking the first time locals have received grants and titles as…
Groupon is in trouble. We’re not talking about its easily replicated business model or its shaky IPO either. The group-buying giant is being taken to task by UK regulators.
The Office of Fair Trading (OFT), which enforces consumer protection and competition law in the UK, has given the company three months to improve the way it operates.
The OFT made the ruling after conducting an investigation that found “widespread” examples of Groupon breaching consumer protection law.
More specifically, the OFT expressed concerns over “pricing, advertising, refunds, unfair terms, and the diligence of its interactions with merchants”.
“Groupon acknowledges that our processes and procedures have not always kept pace with our rapid growth” said Groupon’s UK managing director Roy Blanga.
Blanga claims that Groupon is cooperating fully with the OFT’s recommendations :
“We have independently made many improvements since early 2011 and have worked transparently and constructively with the OFT to identify areas that require further changes. We take their concerns very seriously and will be willingly implementing the recommended changes.”
That seems to mirror the sentiment coming out of the OFT:
“Groupon has cooperated fully with our investigation and is making changes to its business practices to address our concerns. We will be monitoring the situation closely to ensure that consumers benefit from these improvements,” said the regulator’s Cavendish Elithorn.
According to the BBC, the complaints that saw the OFT taking up its investigation Groupon included exaggerated discounts and a time limit on taking up the offered discounts.
While the body’s investigation and subsequent ruling only apply to Groupon UK, it is not the only country in which the deal site’s practises have been called into question.
The company faced a lawsuit in the US late last year after it was accused of altering email agreements with merchants after both parties had agreed to the terms and conditions.
A sweep of South African consumer advocacy site Hello Peter meanwhile revealed complaints about everything from an inability to unsubscribe from the service’s mailing lists, to a failure to deliver vouchers and poor customer service.
The group-buying giant has also been taken to task by the Advertising Standards Authority of South Africa


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Mr. Rooter® Facebook Game Calls Attention to "Fix a Leak" Week
Mr. Rooter Plumbing uses The Drip Game on Facebook to promote the Environmental Protection Agency’s “Fix a Leak” Week, which is March 12-18.
(PRWEB) March 13, 2012 - Mr. Rooter Plumbing uses The Drip Game on Facebook to promote the Environmental Protection Agency’s “Fix a Leak” Week, which is March 12-18.
The Drip Game is about stopping leaks, which have become a rampant problem in reality. More than 1 trillion gallons of water are wasted from household leaks each year, according to the EPA WaterSense website.
“We started the Water-Wise initiative at Mr. Rooter Plumbing to bring attention to the importance of conserving water,” said Mary Kennedy Thompson, president of Mr. Rooter LLC. “With The Drip Game we can make learning about water conservation more entertaining.”
The game features “powerups” that make it interesting. While some catch, slow and stop the drips, others multiply the score and lower the clog level.
In The Drip Game, Wally the Wrench stops leaks in three different levels: the sink, toilet and shower. On the EPA WaterSense website, it reminds Americans to repair leaks in these same areas.
Finding and fixing leaks can save the average household more than 10,000 gallons of water annually, according to the EPA. That’s enough to fill a backyard swimming pool.
Homeowners can get an idea of how much water they’re wasting with the Mr. Rooter Online Drip Calculator at http://www.mrrooter.com/AskTheExpert/Drip Calculator.aspx. It determines the amount of water wasted daily, monthly and yearly based on the number of drips per minute.
“Repairing leaky faucets can also save homeowners money by lowering their water bills,” said Fawn Barlow, marketing manager at Mr. Rooter LLC. “We hope our fun online resources like the Drip Calculator and The Drip Game can help out homeowners when it comes to water conservation.”
The Drip Game is available on Mr. Rooter’s Facebook page at http://www.facebook.com/mrrootercorporation. Click on The Drip Game link in the left side menu.
About Mr. Rooter®:
Established in 1970, Mr. Rooter is an all-franchised, full-service plumbing and drain cleaning company with approximately 300 franchises worldwide. Recognized by Entrepreneur magazine among its “Franchise 500” and Franchise Times Top 200, Mr. Rooter franchisees provide services to both residential and commercial customers. Mr. Rooter began franchising in 1974 and is a subsidiary of The Dwyer Group, Inc. For more information or to find the location nearest you, please visit our Web site at http://www.mrrooter.com and http://www.mrrooter.ca. Follow us on http://www.facebook.com/mrrootercorporation and http://www.twitter.com/mrrootercorp.
Mr. Rooter Plumbing


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It appears Alexa voice recordings that have been deleted have not actually been deleted. At least, not in all forms.
Users have recently become more aware of the storing of audio recordings and how to delete them. However, it seems when a user instructs a voice recording to be deleted, it is only the voice recording that's fully deleted. The transcript lives on in some places and is therefore still accessible by Amazon if it wants to access them.
Besides users presumably being unaware of this, there's currently no option offered to delete the transcripts. They just continue to exist.
Responding to the report, an Amazon spokesperson looked to confirm that transcripts are deleted off the company's main Alexa system as well as some subsystems, but did acknowledge they're not deleted everywhere. The same provided statement explained Amazon has "work underway to delete it from remaining subsystems."
No further information was provided on this work or when the fruits of it will be evident. In other words, there's not much consumers can do about this in the meantime.
Besides the immediate implications, this is only the latest in a number of reports that have highlighted the difficulty in tech companies effectively protecting user data.
Alexa is a widespread entity now and can be found in many different smart devices in the home, including the company's own Echo-branded line of products.
Similarly, Google and Facebook also have hardware products on the market that also use sophisticated technologies and have also come under fire for either accidentally or intentionally collecting more user data than they should.
These collective instances have added to the uncertainty some people feel when it comes to the benefits of new-age smart products, while at the same time increasingly eroding trust in some of the biggest names in the industry.
Facebook recently entered the hardware market with its Portal line of smart speakers and soon afterwards had to admit that these speakers can collect data for ad-targeting purposes. This is in spite of Facebook making a big play during the launch of how privacy matters.
In this particular device's case, it also comes with a version of Alexa built-in and therefore is likely to also be subject to the saving of transcript data.
For clarity, Facebook's Portal webpage states "you can delete your Portal's voice history in your Facebook Activity Log." However, that's not to say when Alexa is used the data is still deleted. It apparently won't be and any user who does delete through Facebook's Activity Log will likely only be deleting what Facebook has collected. Alexa's data is not data Facebook collects in the first place.
While Google is slightly different as its product make use of Google Assistant instead of Alexa, in principle the same issues could be in effect. According to the report, a Google spokesperson explained text data is deleted when an audio recording is deleted.
On the surface, this is the same as what Amazon says, so there remains the underlying question of whether text data is deleted from everywhere it travels to.