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According to Eurostat, at 4.2 per cent, Malta has reached the highest inflation rate in the eurozone and the second highest in the whole European Union. In fact, it is almost double the average in both cases.
In economics, inflation can be considered as a Hydra, a multi-headed beast which once it inserts itself is so difficult to dislodge. It hurts our economy in a significant way. First of all it reduces our purchasing power by the same rate of the inflation.
The worse-off are those segments of society on fixed incomes such as pensioners. Year-in year-out inflation gnaws at one’s precious savings like a hidden rodent. Diligent savers and lenders are thus heavily penalised. Not so the spendthrift, the borrowers and the debt ridden whether as private individuals, companies or government. These are rewarded for their largesse: a gross injustice giving perverse signals.
Our tax system is such that even if those previously untaxed pensioners and wage earners were to have their incomes compensated by the cost of living adjustment (COLA) system, they could start appearing to the taxman to be earning more and are thus caught in the tax net, even though in reality they have not had an iota change in their real incomes.
With higher prices and a fixed exchange rate, exports of manufactured goods and services such as tourism start losing their competitiveness and bring about unemployment.
The only gainer is the government. Inflation rakes in more revenue and, by inflating its GDP in nominal (though not real) terms, it sees its national debt to GDP ratio falling. No wonder that the government is maintaining its silence in the face of rising inflation.
What is strange to many is that inflation is peaking just as we are in the midst of a recession. There are clear indications that Malta will carry on with its recession well beyond the technical two quarters, in which case we are experiencing not just inflation but stagflation.
Those students who were brought up with a strict diet of Keynesian economics were given to understand that economic cycles are represented by economic booms at their peaks and economic recessions and unemployment at their troughs. Thus, inflation and a recession were right opposite each other’s side of the cycle.
By using the fiscal policy tools encouraged by Keynes, governments used to be advised that they could aim for less unemployment but, in so doing, have to accept higher inflation. On the other hand, if they wanted to fight inflation they had to accept higher unemployment. This trade-off was even epitomised in practice at the time by Phillips who named the curve after him.
Governments thought they were presented by an a la carte menu of choices. Germany, in fact, due to its historic fear of inflation, opted for zero tolerance to inflation but had to accept some unemployment. On the contrary, Britain, again for historic reasons, was allergic to high unemployment but tolerated higher inflation.
This economic balance was blown in the early 1970s in theory and practice and the word stagflation was coined. It represents a situation where a country can experience high inflation even during a recession. That reality is here today.
Our country and others elsewhere have legally set up an independent institution tasked with the responsibility to monitor, protect and contain this hated economic monster.
That institution is the Central Bank of Malta. While it was salutary that the CBM Governor has spoken out and confirmed our concerns about the government’s fiscal slippage during this year, we have yet to see a statement about inflation in our country. If our monetary tools have been shipped to Frankfurt the responsibility to monitor and speak out is still with us.
We need to know what is fuelling this inflation. What is the forecasted outlook in the short and medium term? What can we do about it?
If the authorities do not answer these legitimate questions then expect to continue hearing all sorts of nonsense where any price change in the market is labelled inflationary, where we will continue groping in the dark not knowing whether property prices are on an upward or downward trend, where the trade unions will start asking for justice to be done for their members, where a frightening spiral might ignite. Our economic problems will then become that much more difficult to solve.
As for my own hunch, I believe we are living in a divergent two-speed economy, a sort of twin economy where the private sector is at the moment going one way (down) and the public sector another way (up).
The eurozone’s recession coupled with our high inflation are depressing the manufacturing and the retailing sectors and supposedly local prices as well. However, at the same time, the public sector, with its ridiculously self-imposed political cycle, has underutilised the EU funds for the last five years of the EU financial framework so it can splurge on public projects and related incomes during the last year before the election.
In fact, graphically, the inflationary cycle fits in perfectly with the political and fiscal cycle. All these rushed works are showing that all the leftover millions of EU funds are chasing a small number of contractors, goods and services in a very short period of time. The dictum that inflation is money chasing a few goods has never been truer than today.
Stagflation is not an economic virus we got from abroad. It is the result of bad economic governance. Who mentioned a safe pair of hands?
– timesofmalta.com : Wednesday, 5th September, 2012


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Pyongyang NK: Kim Jong il announced today that Hussein's Hamburger Heaven (HHH) chain of fast food restaurants has been sold by the mistress of the late Saddam Hussein to North Korea. The deal is valued at $2.5 billion.
The HHH chain has shops in Africa, Asia and South America. Countries served are Iran, Lebanon, Syria, Libya Somalia, Sudan, Myanmar and Venezuela. The HHH chain is famous for their healthy "Little Tyrant Meal" which comes with apple sauce, instead of fries, and includes a toy. North Korea plans to supersize the toys to main battle tanks, AK 47 assault rifles, rocket propelled grenade launchers and surface to air missiles.
Wall Street reacted unfavorably to the HHH chain transaction, as the Dow Jones Average dropped 100 points. The US Trade Representative spoke before an emergency session of the World Trade Organization (WTO) about North Korea's blatant violation of UN resolutions that prohibit that country from exporting weapons. He said "that little puke in North Korea is trying to sell illegal weapons to countries on the world's s**t-list!"

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Sound strategy: How this athleisure brand selling wireless audio devices has doubled turnover to Rs 12 Cr
Just over a year old, Haryana-based Hammer founded by Rohit Nandwani has streamlined its product range keeping with the shift to wireless audio tech. It is now focused on strengthening its D2C game.
Rohit Nandwani is a fast learner and keeps his ear to the ground.
In the five years since graduating from Christ University, Rohit has worked with learning network startup UrbanPro for about a year; started Ringtel Marketing, an electronics accessories distributor of top brands such as Bose, Sony and Samsung in 2016; and launched his own audio tech athleisure brand, Hammer, in 2019. The brand has doubled its turnover in just the second year of its existence.
How did Rohit chart this impressive course with Hammer?
He sensed early on that there was space for a private label in the wireless audio devices market. Two market developments caught his attention: Apple launching AirPods and several mobile phone brands discontinuing the practice of offering earphones that are plugged to handsets.
Rohit’s father had saved up for his MBA. The son decided to use it instead to launch his business. With Rs 30 lakh, Rohit started Hammer in Haryana.
Attuned to the market
Hammer started out with audio devices in various categories: earphones, headphones, home audio devices et al. But it soon streamlined its offerings.
“We were in the general audio category. But we realised we wanted to be specialists and not generalists,” Rohit tells SMBStory.
At present, Hammer makes wireless audio devices including headphones and earphones, as well as fitness bands.
“TWS (True Wireless Stereo) is the core of our business on which we are focusing our entire energy. It is also the fastest growing vertical in the audio segment,” says Rohit.
Hammer’s products are priced in the Rs 999-Rs 3,999 range.
The research and development of products happens in-house, while the manufacturing takes place in India and abroad. Manufacturing units near Manesar and Panipat account for 20 percent of the production, the rest coming from units in Germany, Taiwan, Estonia and Vietnam.
Hammer recorded a turnover of Rs 6 crore in FY20, which has doubled to Rs 12 crore so far in the current fiscal. It expects to close out FY21 with Rs 16-18 crore in turnover.
Challenges in building a D2C brand
Initially, “everything was a challenge”, says Rohit—whether it was getting the product right or dealing with customers.
Cutthroat competition is another pressing challenge, he says. “The technology is advancing really fast. Moreover, people are pumping huge money, which is pushing the industry even more. Therefore, we have to be agile all the time. We cannot take a backseat even for a moment.”
Brand positioning is one of the ways Hammer is trying to set itself apart from competitors such as JBL,, , Apple and Realme. Hence, Rohit’s emphasis on Hammer being an athleisure brand and not one selling electronics goods.
Hammer retails on its website, as well as online marketplaces such as Myntra,and . Its products are also available offline through modern retail partners such as Croma and Metro.
“We have tied up closely with Myntra,” says Rohit. “While many people see Myntra as a fashion brand, few are aware that it sells electronics as well.”
This apart, the practice of deep discounting is less prevalent on Myntra than other ecommerce platforms, adds Rohit.
A 20-25 percent rate of goods return is sometimes quite heavy on the company, admits Rohit. Of this, 18 percent is courier return—a package returned due to non-availability of customers and other factors—and the rest because customers were not satisfied.
But D2C is the way forward
At present, Hammer clocks 85 percent of its sales online and the rest offline. With the D2C goal in mind, the brand is focused on selling via its own website, which gets around one lakh viewers a month.
The brand is also trying to match up to the customer services of the likes of Amazon. “We have tied up with delivery partners like BlueDart and deliver in 24 hours pan-India,” says Rohit. “We also have a live chatting service on the website, which eases communication with customers.”
While the consumer and business shift to online had started earlier, Rohit says the coronavirus pandemic has sped that process up. That’s why he says Hammer is receiving huge traction from tier 2 cities such as Jaipur and Ahmedabad.
With pandemic restrictions pushing the world to reduce its dependence on China for goods and raw materials supply, in India too the conversation around domestic manufacturing has become louder and stronger.
Rohit weighs in on the change: “Before the pandemic, the electronics market was heavily dependent on China. But COVID-19 has compelled companies to set up their manufacturing bases elsewhere.”
He believes that India has the ability to produce everything and reduce its reliance on its eastern neighbour. “China is thriving purely on the assembly game. If I talk about earphones, the basic components include plastic, chipsets and drivers. India exports plastic to other countries. The chipsets anyway come from Taiwan. So why can’t India assemble and manufacture everything here itself?”
Foxconn, HP andare some of the companies that have chosen India as a manufacturing base.
Given these developments, Hammer plans to expand its manufacturing capabilities in India. Currently operating at a capacity of 10,000 units a month, it plans to push this up to 40,000. This will propel innovation, customisation and make the brand more self-reliant, says Rohit.
The brand also plans to launch products in the home automation space and smartwatches segment.
Edited by Lena Saha


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The BBC's commercial arm, BBC Worldwide, today said it has no plans to sell Lonely Planet, the travel guide publisher it bought in 2007.
The acquisition of 75% of Lonely Planet for £89m has been dogged by concerns over BBC Worldwide's commercial ambitions.
Last month the Commons culture, media and sport select committee attacked the deal and it was also singled out by James Murdoch, the chairman and chief executive of News Corporation's European and Asian businesses, as an example of the BBC's expansion into areas not connected with its programmes.
According to sources familiar with the situation, BBC management has already discussed the disposal of Lonely Planet and it is "top of the list" of a review of the corporation's activities announced by the BBC Trust last month and being led by director general Mark Thompson.
However, BBC Worldwide today said it "has no plans to sell the highly successful Lonely Planet travel information business. It is not up for sale full stop."
The 2007 Lonely Planet deal was approved by the BBC Trust, the corporation's regulatory and governance body, but with what were said to be some misgivings among some of the trustees.
Now it has emerged that the Australian founders of Lonely Planet, Tony and Maureen Wheeler, who retained a 25% stake, have been allowed to extend an option they have to sell their share to the BBC.
This has prompted speculation that the move has been made because the Wheelers are expecting the BBC to sell Lonely Planet and they hope to buy it back for less than they sold it.
Publishing experts value the business at about £50m, claiming it made a loss during the last financial year.
However, the BBC has spent an estimated £5m-£15m on the Lonely Planet brand already, in particular on its digital activities. It is not yet clear if the actual amount will be made public.
One BBC source said that questions of impartiality have also dogged the deal. "Because of the furore over the row it has not been possible to leverage the kind of synergy that Worldwide had hoped. Linking the BBC brand with Lonely Planet is too sensitive and raises questions of impartiality," the insider said.
"BBC management never liked the deal when it was done and thought BBC Worldwide was being too expansionist at a politically sensitive time."
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Customs intercepts 440 pump action rifles, others at Lagos port
• Agency denies handling cargo
The Nigeria Customs Service (NCS) has intercepted a cache of arms and ammunition imported through the Tin Can Port in Apapa, Lagos.The 440 pieces of assorted pump action rifles, which originated from Turkey were concealed inside a 40-footer container with numbers PONU210024/1 22G1 carrying POP powder used in designing house ceiling. It was the second seizure of arms of such magnitude this year. The customs had in January this year seized 661 pieces of pump action rifles, which were found in 49 boxes. The secret importation of arms and ammunition is deepening the insecurity in the country.
Displaying the guns at the Tin Can Island Command of the Customs yesterday, the Coordinator of Zone A of Customs, Assistant Comptroller-General Monday Abueh said the container was intercepted on Monday night based on intelligence obtained by the command.
He added that one suspect (name withheld) had been apprehended in connection with the seizure and the consignment transferred to the customs enforcement unit where other security agencies were invited to inspect it.
“These are pump action rifles of various designs. Based on intelligence report, the Tin Can Island Customs under Controller Bashir Yussuf, was able to identify the container and intercept it. We discovered that they used POP powder to conceal the arms in order to beat the customs checks.
“We have one defendant, but we don’t intend to detain him for long because of security reason. As of the consignee, we are still keeping the identity under wraps because investigations are still ongoing. We have about 440 pieces coming from Turkey,” Abueh said.Yusuf revealed that apart from the 440 pieces of pump action magnum brand, other accessories of the guns were found in the container.
He gave the breakdown of the seizure as 100 pieces of Black Tornado Single Barrel Rifles; 75 pieces of Silver Magnum Single Barrel Rifles; 50 pieces of Alter Pump Action Rifles; 215 pieces of Black Single Barrel Rifles; 164 pieces of Rifle Nozzle; 103 pieces of Arms Grips;110 pieces of trigger; 113 pieces of Arm Guard; 107 pieces of Bridge Block;122 pieces of Allen Keys; 117 pieces of Assemble Butt and 516 pieces of 50kg bags of PoP cement.
Yusuf said: “We have other accessories in this container, several parts dismantled but definitely to be reassembled. Investigations will go deeper to know where the factory for arms assemblage is located in Nigeria.
“Generally, anytime we have interceptions like this, it requires a lot of intelligence and profiling of importers. The 21st century calls for that, you don’t have to wait for things to start happening before you start working.
“POP is a very safe item to conceal weapons because it is not injurious to anyone. It was an attempt to distract the customs attention, but whatever anyone may use, it will attract our attention.”
Meanwhile, Sifax Group has denied reports that the arms were handled by its sister company, Ports & Cargo Terminal.Corporate Affairs Manager of Sifax Group, Muyiwa Akande, said: “The attention of our management has been drawn to a false report being circulated by some online news media to the effect that a container load of arms was intercepted at a subsidiary of our company, Ports & Cargo Terminal, Tin Can Island Port, Lagos.
“The news report is totally false and misleading. We enjoin members of the press to uphold the highest standards of professionalism in the discharge of their duties in order to avoid misinforming the unsuspecting members of the public,” he said.
The President, National Association of Government Approved Freight Forwarders (NAGAFF), Increase Uche told The Guardian that such unpatriotic acts should be discouraged. He urged security officers to do a thorough investigation and prosecute the culprits.
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Hanes and Mark Horvath, an advocate for the homeless, are teaming up to donate half a million socks to The Salvation Army and other charities during the month of December for its Hanes for Good campaign kicking off on Giving Tuesday, December 3.
This year, to help some of those truckers make a connection to the Arlington event and expand the reach of National Wreaths Across America Day, WAA partnered with the Truckload Carriers Association (TCA) and Pilot Flying J—a TCA member company—for a “rolling tribute.”
eatiply™ is a meal-for-meal food donation project that was created to help the fight against world hunger. Every time you dine at an eatiply™ supported restaurant and choose a featured entree, a meal is donated and provided to someone in need.
All you have to do is: 1. Visit TorkUSA.com/Every Glance 2. Customize a design 3. Submit and share on your social networks For every entry, Tork will donate $1 to the No Kid Hungry campaign. Just $1 can help connect a child with up to 10 healthy meals. With your help, we can break down the barriers that prevent families from receiving regular and healthy meals. Please consider participating and sharing with your networks.
Post your “Pass the Glass” Vine to Twitter with #ShareWhatsGood. Then we’ll pass along a bottle of Welch’s® Sparkling – on top of the 100% Grape Juice we’re already donating – to every family helped by Family-to-Family, the nonprofit charity we’re proud to support. If enough of you Pass the Glass, you receive a FREE bottle of Welch’s Sparkling!
Patagonia has launched an anti-Black Friday campaign, urging customers not to buy new items and, instead, to repair their old Patagonia gear instead. With iFixit, this initiative is also coming to life in 15 of its retail locations in cities around the country. Starting at 4 p.m. on Black Friday customers can bring old, beat-up Patagonia gear to one of those 15 stores to get their stuff repaired for free.
For the 11th year in a row, hundreds of law enforcement officers from throughout the state will stake out Dunkin' Donuts rooftops to benefit Special Olympics Illinois on May 31. Police officers are scheduled to cover a record 150 Dunkin' Donuts rooftops to raise money for the Special Olympics. Dunkin' Donuts will donate $15,000 to the Torch Run fund. In addition, each guest who visits a Cop on a Rooftop location that day and makes a donation to the Torch Run will receive a free donut…
At Harry’s, we believe in giving both our money and our time. We commit 1% of our sales and at least 1% of our time — that’s 25 hours per employee per year — to empowering people to become who they are. Our current Give a Shave partner is City Year. City Year prepares young adults for the real world with a very real experience: a year of service in some of our nation’s most under-resourced schools. With City Year, corps members learn valuable professional and life skills.
Celeste Corcoran has been a stylist at EMERGE Spa & Salon on Newbury Street for 13 years. Her and her daughter Sydney were both severely injured during the Boston Marathon bombings. Celeste lost both of her legs from her knee down. Sydney suffered from shrapnel wounds and arterial damage in her legs. As a result of the amazing outpouring of support G2O & EMERGE have received from fellow salons and spas, we have decided to have a fundraising event to benefit Celeste and her family…
Same week as VDay! Trojan is marking Condom Awareness Week by using game show-style taxi trips in New York City and a history of condoms documentary to promote the brand. The rubber is literally meeting the road -- pun intended -- as the condom makers deploys a fleet of Trojan Safe Ride taxis to drive home the facts about condoms. Americans are invited to get in and gauge their sexual health IQ by participating in a condom trivia game while en route to their destination.
In honor of World AIDS Day 2013 (Sunday, Dec. 1), Starbucks will make a 10 cent (U.S.) donation for every handcrafted beverage sold in participating U.S. and Canada stores. Starbucks donation will go to the Global Fund to fight AIDS, where 100 per cent of the money is used to help finance HIV/AIDS programs in Africa. On World AIDS Day and all season long, customers can enjoy Starbucks® seasonal beverages including:
Boston’s own E.B. Horn Jewelers is helping you do just that with their #EBHolidayKiss photo campaign. The campaign, which began this week, will be donating $10 to Boston Children’s Hospital League for every photo tagged with #EBHolidayKiss and shared on Instagram, Twitter or E.B. Horn’s Facebook page.


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Scarlett Johansson sues Disney over the release of a simultaneous stream Black Widow, which debuted the same day in theaters and Disney Plus through its Premier Access service.
The lawsuit was filed in the Los Angeles Supreme Court on Thursday, alleging that Johansson’s contract with Disney-owned Marvel Entertainment guaranteed the film’s “extensive theatrical distribution.” According to the suit, it must be “well understood” that the agreement meant an exclusive publication which would not involve streaming. Johansson’s salary was based in part on the film’s box office revenue, the costume says, meaning the streaming offer could cut his salary meaningfully.
“Disney knew that cannibalization [box office receipts] Disney + saves Marvel (and more broadly Disney) “very large” amounts of money that it would otherwise owe Johansson, “the lawsuit notes. “
Johansson could lose $ 50 million due to changed release plans Wall Street Journal, which first announced the trial. The Disney spokesman did not immediately return the request for comment.
The lawsuit alleges that Disney had two primary motivations for the hybrid release. First, Disney wants to increase the number of subscribers to its streaming service and increase the value of the stock. Second, the application states: “Disney wanted to significantly underestimate Ms. Johansson’s contract and thus get rich.”
The lawsuit’s argument – that Disney promised an exclusive theatrical performance before he reassured about that assurance – seems to depend on what a “theatrical performance” is. The costume states that both Marvel and Johansson understood the promise under the extensive theatrical performance agreement that the film “would initially be released exclusively in cinemas and would remain exclusively in cinemas for about 90 to 120 days.” But it is not stated whether these details are in his contract.
“As Ms. Johansson, Disney, Marvel, and most other Hollywood members know, a‘ theatrical release ’is a release designed exclusively for movie theaters,” the statement states. “Disney was well aware of this promise, but still told Marvel to break his commitment and instead publish the picture on Disney + live on the same day it was released in movie theaters.”
Disney seems to have realized that changing the publishing strategy would affect Johansson. Marvel’s General Counsel David Galluzzi wrote to Johansson’s representatives in 2019, announcing that if the exemption plan were to change, a discussion would take place according to the lawsuit. “We understand that if the plan changes, we need to discuss this with you and reach an agreement because the deal is based on a series of (very large) box office bonuses,” Galluzzi quotes the author as saying.
During the pandemic, several Disney headlines originally intended for exclusive theatrical release were instead debuted simultaneously in theaters and Disney Plus via the Premier Access platform. Premier Access charges an additional $ 30 fee to stream these movies from home on Disney + while they are played in theaters. Black Widow, Crueland a live-action remake Mulan are among the films released in this way as theaters twisted under the deadlock of a pandemic and restrictions under 19.
It is a significant development in the liberation structure that emerged during the pandemic. Many big streamers have chosen to release movies this way, including HBO Max. The model has come under the fire from great Hollywood directors like Dune directed by Denis Villeneuve and Christopher Nolan.
The lawsuit filed this week claims that after Disney ad Johannson and his team tried to negotiate with Marvel for the release of the film that the image would debut as a date and date name. It claims that Marvel “ignored this dimension” of the film debuts on Disney Plus under the hybrid version model in any case.


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General Motors will move ahead with a major reconstruction of its Saturn plant in Spring Hill, Tenn., as it ponders what vehicles to build there.
Industry sources said late last month that GM is considering moving the plant's current Saturn products, the Ion and Vue, to other GM factories. And studies are under way to determine what to build at Spring Hill.
But the planning won't stop a scheduled $400 million overhaul of the 15-year-old plant. Preparations for the work are in progress, says Mike Herron, chairman of Saturn UAW Local 1853. Construction could begin in November, he says.
A GM spokeswoman said the automaker was not at liberty to discuss the plans or the Spring Hill labor agreement.
Whatever GM's ultimate product plans are at Spring Hill, Herron says the automaker committed to several major changes in a UAW contract that went into effect there in February:


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The Peak Shipping Season Of ‘22 Is As Dramatic As It Was Last Year
While freight prices have continued tipping down, shippers are still in a fix to ensure inventories reach them in time for the holiday season
A hearty welcome to the 57th edition of The Logistics Rundown, a weekly digest that aims to put some perspective on what’s brewing within the logistics industry. This is a space where we religiously dissect market trends, chat with industry thought leaders, highlight supply chain innovation, celebrate startups, and share news nuggets.
The peak retail season is here, and for shippers, there’s a sense of deja vu — considering their ordered inventories might not arrive in time for the holiday season for the second consecutive year. While the consequences are eerily similar, the logistics bottlenecks that led to this dilemma differ.
Last year this time, capacity was incredibly tight — both on land and at sea — spiking freight rates and delaying order fulfillment as shippers fought for limited capacity. The US West Coast was clogged with roughly 100 vessels at anchor in the San Pedro Bay, as terminals struggled to offload ships at berth due to a lack of space to place containers at terminal yards.
This time around, demand has largely plateaued, and so have freight rates. While maritime spot rates had fallen sharply over the last few months, contract tender prices have recently shown signs of cooling.
The US West Coast has cleared up its long vessel queues, partly achieved with shippers redirecting their cargo — eastward to the Gulf and East Coast ports or up north to Canadian ports. Expectedly, this inflated vessel queues outside ports like Savannah, Charleston, New York, and Vancouver.
The US West Coast has cleared up its long vessel queues, partly achieved with shippers redirecting their cargo — eastward to the Gulf and East Coast ports or up north to Canadian ports.
And then comes the possibility of labor strikes. For shippers to transition out of the US West Coast needed a strong reason, and the ILWU gave them one. The International Longshoremen and Warehouse Union (ILWU), which represents the interests of over 22,000 port workers across the West Coast ports, has been in a series of talks with the Pacific Maritime Association (PMA) for over two months, discussing a pay increase to reflect the industry’s good fortune and factor in rising inflation.
This discussion has not yielded convincing results, with concerns of a resulting port labor strike during peak shipping season pushing anxious shippers to redirect their freight out of the region. Over the last few weeks, this situation compounded with concerns of a railroad labor strike materializing, which has been averted with a last-minute deal brokered by the Biden government. Nonetheless, railroad operators have cut down their services, straining intermodal movement that is already severely backed up.
But shipper woes start much before their freight lands on US soil. As manufacturing activity across China was picking up after its spate of COVID-19 lockdowns, the country witnessed an energy crisis brought about by a severe drop in hydropower production due to widespread drought.
This led to a fall in production, with Chinese PMI indicators showing a contraction in manufacturing for the first time this month since the breakout COVID-19 wave in ‘20. The Golden Week being around the corner will not help either, as industries would stay shut for a week in the middle of the peak shipping season.
Chinese PMI indicators showing a contraction in manufacturing for the first time this month since the breakout COVID-19 wave in ‘20.
“We can still expect China to shut down regions that see a rise in COVID cases, thanks to the country’s zero-COVID norms. With everything going on in there, plus the things we see in the US, it could be tough for shippers and retailers to get things in time for the holiday season,” said Darin Miller, National Marine Manager at Sedgwick.
On the flip side, with less freight coming from China, there can be some breathing space for the US East and Gulf Coast ports. Repositioning empties has been another problem this year. Container lines were incentivized last year to move empties out of the US ports and to the Chinese mainland ports, as eastward trans-Pacific movement was multiple times more lucrative.
The incentive is a lot less this year, with maritime freight rates slipping. That aside, ‘22 saw a distinct uptick in container manufacturing that left Asia with enough container supply for their export needs. This has resulted in a surge of empties across the US East Coast, as container vessels look to quickly leave for Asia after unloading containers. This is largely an attempt by carriers to salvage their schedule reliability figures that tanked last year and is slowly rising in the last few months.
‘22 saw a distinct uptick in container manufacturing that left Asia with enough container supply for their export needs.
The empties predicament has meant the time vessels spend at berth has been progressively increasing. This can be seen in the data from project44, where the US East Coast, Gulf Coast, and Canada recorded 11.2%, 16.1%, and 26.9% increases, respectively, year-over-year.
Increasing berthing times and container dwell times would mean shippers receive their goods a few weeks late. “That could make a big difference,” contended Miller. “We’re fast approaching Halloween, and there could be things that could come in a few weeks late, missing the sales window or getting their inventories at the very tail end of it. There’s definitely a chance for overstocking issues to continue this year as well.”
Legislature can’t help much either. While Biden signed the Ocean Shipping Reform Act in June to prompt transparency and prohibit ocean carriers from predatory practices, the impact is yet to be seen on ground zero. “We even saw regulators extending hours in some of the port facilities, but there are so many layers to this onion that it didn’t work quite well due to other downstream bottlenecks. I don’t know how long it will take or if we will ever see pre-COVID normalcy in logistics,” said Miller.
The Weekly Roundup
Tensions remain high regarding the impending rail strike. The Biden administration is confident they’ve brokered a deal between unions and the rail companies, but not all unions are on board. Union members have agreed to delay strike actions until September 29th if an agreement isn’t reached.
Cargo theft incidents on Labor Day have been on the rise. This year there were 17 reported theft incidents, maintaining a fairly consistent upward trend since the beginning of the pandemic. Cargo theft prevention network, CargoNet, says the extended holiday weekend makes it an appealing time to would-be cargo thieves.
Import volumes hitting the West Coast ports are finally beginning to drop. The Port of Los Angeles has reported a 16.8% drop in imports, year-over-year, and down a similar percentage from reported volumes through the month of July. Inflation, softening demand, and an earlier-than-usual peak season are all contributing factors to the decline.
The Port of Long Beach had its first opportunity to refuel a liquified natural gas (LNG) powered ship recently. Pasha Hawaii’s MV George III is the first LNG-powered ship to call on the port and is a good indicator of what’s to come for the future of green supply chains. An LNG-fueled ship produces 25% less carbon dioxide in addition to drastic reductions in both nitrogen oxides and diesel particulate matter.
“...announcement of a tentative agreement between the railroads and their workers is a welcome relief. Manufacturers had been putting into place contingency plans as they were facing disruptions with moving their supplies and products.”
— National Association of Manufacturers President and CEO Jay Timmons, commenting on how the industry prepared for a potential rail strike didn’t materialize
Want to talk with us? Have something you'd like us to cover? Drop your thoughts to firstname.lastname@example.org
We are TruckX, the Internet of Things plug to logistics. Check us out at www.TruckX.com


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News Google follows Apple in its latest shift to passwordless authentication, but what are the benefits?
Opinion PayPal accounts were breached last year due to a credential stuffing attack, but can PayPal avoid taking responsibility?
News Windows 11 devices have been affected by the Defender for Endpoint error, which flags SSO domains as problematic
News Security fixes include a zero day exploited by a ransomware group and seven critical flaws
News The password manager knew about the issue since 2018, exploits for which were highlighted in a Flashpoint report earlier in March
News In addition to losing encrypted backups such as hashed passwords, the firm has confirmed hackers stole an encryption key relating to the data
News The latest fallout from the password manager's August security nightmare will probably see attackers deploying sophisticated methods to acquire decryption information
News The password manager denies the exfiltration of any password data in an attack that also hit affiliate GoTo
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Greater Noida: India will need a comprehensive ecosystem that supports cleaner technologies, including electric vehicles, to meet its vision of cutting emissions, reduce dependence on imported fuel and achieve leadership in clean technology, according to Maruti Suzuki India MD and CEO Kenichi Ayukawa.
The company today unveiled its electric concept compact SUV, e-Survivor here at the Auto Expo while showcasing a range of technologies to accelerate electrification of powertrains in India, ahead of its planned launch of an electric vehicle in the country by 2020.
The e-Survivor concept demonstrates Maruti Suzuki's efforts in the direction of electric mobility and presents an innovative, futuristic vision, the company said.
Ayukawa said products alone will not be enough to realise India's grand vision of bringing down emissions substantially, reduce dependence on imported fuel, and secure a leadership position in clean technology capability.
"India will need a comprehensive ecosystem that supports cleaner technologies, including electric vehicles," he said while unveiling the concept e-Survivor here at the expo.
That ecosystem will include local production of components, capabilities for battery manufacture and recycling. Of course, we will need a vehicle charging infrastructure of a scale and size that matches India s needs, Ayukawa added.
"In our understanding, the vision of cleaner technologies is not 'import and assemble'. Rather, it must go hand in hand with the mission of Make in India," he said.
Stating that Maruti Suzuki India (MSI) is committed to help create this ambitious ecosystem, Ayukawa said the company's parent, Suzuki Motor Corporation, has taken a bold step forward by setting up India s first lithium ion battery manufacturing plant in Gujarat, in partnership with Toshiba and Denso.
"We are actively studying the factors that will improve acceptance of EVs, and what consumers across India desire from EVs," he added.
MSI is also examining various options to support vehicle charging infrastructure in the country, he added.
Sourcing raw material, vehicle maintenance, skilling and reskilling of people, disposal and recycling, will all be critical parts of the mega ecosystem, Ayukawa said.
"Our approach will cover the entire lifecycle of an EV, and help build a clean and sustainable future for India's automobile industry," Ayukawa said.
Maruti Suzuki will launch its first electric vehicle (EV) in India in 2020, he said, adding, "At the same time, we recognise that there is a larger vision behind electrification of powertrains."
Commenting on the electric concept compact SUV, he said, "Concept e-Survivor symbolises our commitment to clean technologies of the future."
He said the concept represents MSI's future FACE -- four- wheel, autonomous, connected and electric.
"In this concept SUV, the proud 4-wheel drive heritage of Suzuki combines with electric capability, to offer fine control and outstanding mobility. e-Survivor is equipped with autonomous driving capabilities," Ayukawa added.
MSI is also showcasing working model of its next generation Suzuki Hybrid system (HEV).
"In our holistic approach to cleaner technologies for India, hybrid has tremendous potential and significance. It will move alongside the EV vision," he said, adding improving efficiency of conventional engines with hybrid technology can reduce emissions substantially, and help bring down India s fuel imports.
"More important, hybrid can start working for us almost immediately, as the ecosystem for it is largely in place," Ayukawa said, adding till the time EV market matures in India, many millions of conventional Internal Combustion Engine (ICE) vehicles will be sold in the country.
"Deploying hybrid technology on the large number of ICE vehicles will bring massive benefits, in terms of both emissions and fuel saving. Here again, Maruti Suzuki is excited to pursue and develop the hybrid option to make for a cleaner India," he said.


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July 16, 2021 – Re-opening Update
We are pleased to announce that the BWG Leisure Centre will re-open with limited capacities as follows:
- Wednesday, July 21 – ice bookings
- Monday, July 26 – fitness centre, gymnasium, leisure skating, lane swimming and aquatic leadership
- Tuesday, August 3 – aquafit, parent & tot swimming, and leisure swimming
Swimming lessons will be returning in the fall.
Memberships and booking will be available to purchase online or over the phone with a Customer Service Representative on Friday, July 23. Previous COVID-19 Memberships that were placed on hold during the shutdown can be reinstated by calling customer service beginning Monday, July 19. Customer Service hours are currently Monday-Friday 8:30am-4:30pm.
Please note the following changes:
- Booking will now open seven days before (previously two days) the program start date.
- When booking a space in the Fitness Centre, access is now for both the strength/weight room and the cardio machines/walking track.
- All users of the BWG Leisure Centre will enter and exit the facility at the southeast doors (doors closest to parking lot).
We appreciate your continued patience and understanding as we continue to make your health and safety our number one priority. We are excited to open our doors and welcome the community back to the BWG Leisure Centre!
The BWG Fitness Team continues to run a select schedule of Outdoor Fitness Classes. Click HERE for program details and to register.
Summer Camp registration is currently open. Camp information is available HERE.
If you have any questions please reach out to the Customer Service desk via phone or email at 905-775-7529 ext. 6007 or email@example.com.
For more information on impacts to other town services please visit http://www.townofbwg.com/COVID.


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Struggling Nokia aims high with low-end phone
Bargain-basement handset touted as cash spinner in battle to catch upmarket rivals
Tuesday, 30 April, 2013, 5:32am
The Nokia 105 has been released in some Asian markets.
As Nokia battles to catch Apple and Samsung Electronics in the market for smartphones costing US$500 or more, it's counting on a bare-bones handset that sells for just US$20 to give it an edge.
Priced 97 per cent below the latest iPhone, the Nokia 105 features preloaded games, a colour screen, a radio, a speaking clock and a torch.
The phone, Nokia's cheapest, has been available for a few weeks in India and Indonesia and will soon start selling in Europe.
Even with its bargain-basement price, the 105 is critical to Nokia's entire handset business. Nokia reported on April 18 that it sold about 11 million fewer mobile phones in the first quarter than analysts had projected, with sales of basic phones plunging 21 per cent to 55.8 million units.
A failure to revive the low-end business would leave Nokia without an important source of cash as it seeks to develop challengers to the iPhone and Samsung handsets that run Android.
Falling sales of simpler phones were "definitely worrisome", said Mika Heikkinen, a fund manager at FIM Asset Management in Helsinki."They have to get this under control."
Nokia chief executive Stephen Elop points to the 105 as a signal that the low-end business can recover after a difficult quarter.
While demand for the iPhone and Android devices have made smartphones the fastest-growing part of the market, basic handsets still make up more than half of units sold. That means hundreds of millions of phones each quarter - a market Nokia dominated until Asian manufacturers such as ZTE, Huawei Technologies and Samsung started challenging it morie aggressively.
The Finnish manufacturer says the 105 will be profitable…...


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The Growth of Robotics in Manufacturing Sector
Published on : Monday 15-06-2020
Robots are primarily being installed and incorporated in the high production capacity manufacturing plants to enhance the overall business processes. Also, it is implementing in the small-scale production application in the manufacturing sector owing to its advanced programming set up and easily collaborated with humans to scale up and efficient production execution.
Current Implementation of Robotics in Manufacturing
Considering the current manufacturing sector, robots are using along with human intelligence. For instance, Tesla Inc. incorporated KUKA’s robots integrated with Fanuc machines to manage the payload capacity of 700 Kg at Fremont Gigafactory. Moreover, the Gigafactory was equipped with the self-navigate Autonomous Indoor Vehicles (AIVs) that can remotely monitor by humans to further shift goods between workstations.
There is term “cobot” is devised to intended for direct human-robot interaction robots within a shared space. Cornell Dubilier, a power capacitor manufacturer in the US, coined the ROI behind cobots through inspect capacitor installations and estimated the actual production, which results in doubling of its labeling process from 125 parts an hour to 250 parts an hour. Also, the company widely reduced the waste or idle time throughout the supply chain and initiate the focus of human workers into tasks related to enhance design and creativity.
As per the latest survey study from Capgemini, they estimated that the 91% of the all respondents are in favor to believe that the robotics process automation (RPA) saves the repetitive production time, while 84% of that RPA users are stated that the use of robots can significantly reduce costs.
The robotics are the helping hands for human capability through replicating human minds and hastening operations and transforming business processes with a high level of efficiency. It is expected the incorporation of robotics can assist the manufacturing companies through the adoption of repetitive tasks or back-end paper works such as invoice processing and purchase management order.
The Global Robotics Industry Market Size & Forecast
According to the International Federation of Robotics (IFR) data by DC Advisory, the global robotics market is estimated to reach USD 275 billion by 2025, which was USD 105 billion in 2019. Moreover, it also estimated the global annual supply of industrial robots which was 384,000 units in 2018, 382,000 units in 2017, and 294,000 units in 2016.
It is expected that around 1.9 million robots will be in operation across Asia in 2020. Moreover, it is also estimated that China, South Korea, Japan, the US, and Germany are the top consumers for robotics in the global market in 2019. These 5 markets are expected to account for over 70% market share in the global robotics industry in 2022, while these accounted for 74% in 2016, as per the IFR.
The key robotics manufacturing companies in the global market include Denso Corporation, Fanuc Corporation, Kuka AG, Kawasaki Heavy Industries Ltd, Comau SpA, ABB, Toshiba Corporation, Panasonic Corporation, Staubli International AG, Nachi Robotic Systems Inc., Yamaha Motor Co. Ltd, Seiko Epson Corporation, Comau SpA, Adept Technologies Inc., Intuitive Surgical Inc., Stryker Corporation, and Maxar Technologies Ltd.
The Robotics Opportunity
There are wide opportunities for the incorporation of robotics approach by manufacturing companies to enhance the production capability and product quality to gain market position and take competitive advantage. Moreover, the rise in trend for Industry 4.0 is further creating the opportunity in the market for the manufacturers to invest in the expansion of the overall market growth.
The manufacturers are primarily focused on commercializing robots based on real-time data collection by integrated sensors along with factory-wide networks of machines and systems. This strengthens the consumer's power to predict the performance of robots, manufacturing plants, and the human workforce. For instance, the University of Lincoln’s National Centre has introduced the research and development (R&D) project by revealing state-of-the-art robotic arms to minimize the overall waste in the food supply chain. These initiatives are expected to create awareness and traction among companies in the manufacturing sector.
However, the lack of standardization and lack of understanding about the implementation of robotics technology in the manufacturing application is restraining the adoption of robotics in the market in the coming years. Moreover, the high cost associated with the adoption of robotics is the main challenge in the market.
The Robotics for Small-to-Medium-Sized Manufacturers
To create awareness and demand among the small-to-medium-sized manufacturers, the robotics manufacturing companies are implementing leasing models to accelerate the adoption of robotics. Also, simplification and understanding through continuous support to the users to enhance the ongoing need for robots. The primary use of robotics can also be helpful for the manufacturers having a lack of specialized production engineers in-house across small-to-medium-sized industries. The high availability of easy-to-use robots on the purchased based or on-rent can easily integrate into standard production processes to sustain efficient and flexible manufacturing for small-to-medium-sized manufacturing companies.
In conclusion, it is expected that the rise of advanced technologies, such as RPA and robotics arm as well as the propagation of e-commerce and growing need for automated warehouses are creating the opportunity to propel the transformation of robotics in the global market across the manufacturing sector. Moreover, the manufacturing sector is widely expanding at a high growth rate in other economies in the region such as India and Mexico, are further creating the potential for growth of robotics in the market in the coming years.


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Joseph Pardillo (right), managing director of Carat Melbourne, has today announced that Melbourne trading director, Paul Wilkinson (left), will step into the newly created role of Head of Commercial and Investment at Carat Melbourne.
The appointment will see Wilkinson working closely with internal client leads to optimise business and commercial value for clients. Wilkinson, who has been with the agency since 2008, will continue to lead the negotiation and investment strategies of Carat Melbourne’s $400 million plus per annum media spend.
Pardillo said, “Paul’s expanded role will be vital in helping steer our clients’ media and marketing efforts in today’s fast-paced digital economy, beyond just finding the cheapest media rate. He is there to provide an impartial view on opportunities to drive more holistic business ROI, centered on new technology, innovation, and business strategy.”
Wilkinson will continue to report directly in to Pardillo and will also play a key part in the implementation of the agency’s digital acceleration agenda.
Wilkinson said, “I’ve been with Carat Melbourne for almost eight years and we’ve obviously experienced significant growth and change during that time.
“I’m really excited to help further evolve our commercial offering for clients and mobilise the agency toward our ‘Digital 2020’ vision. This is an important challenging time for our clients; it’s critical for us to adapt our leadership accordingly.”
Is it too early to start planning your holiday campaigns? Definitely not, argues Pinterest CMO Andréa Mallard in this piece. Brands love reaching their most passionate customers. As a former retail CMO myself, I get it. When you reach early planners, you reach the CEOs of the household—an audience that buys and spends more. Reach […]


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18 Dec A new start, a new journey
–Happy moving for ANDA SHUN Tianjin!
On December 6, 2020, ANDA SHUN Tianjin moved to a new location. Many representatives of ANDA SHUN attended the inauguration ceremony.
Let’s start a brand new journey and achieve a new vision.
The new address of ANDA SHUN Tianjin:
1605, Zhonghai Fortune Center, intersection of Heiniucheng Road and Dongting Road, Hexi District, Tianjin
Our contact numbers, corporate QQs, email addresses, etc. remain unchanged.
Inauguration ceremony at the new site
Moving to a new office means that the company will develop more rapidly and with higher quality. The company staff said: “We will take the new office as a new starting point to improve our work efficiency and create a more brilliant future of ANDA SHUN Tianjin!”
Spacious and bright office
Vibrant and energetic teams
ANDA SHUN International has been marching forward in the face of the pandemic and the severe business situation this year, with even stronger resilience. We would like to thank all the airlines, shipping companies, our clients and partners for your support.
We believe ANDA SHUN will overcome all the difficulties and make a giant leap in the near future.


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Humans are often described as the weakest link in the cybersecurity chain. This is certainly true to an extent: witness the fact that phishing enabled 93% of data breaches last year. However, it might be more accurate to describe credentials themselves as the biggest threat to organizations. Whether we’re talking about corporate account passwords or customer log-ins, they can be phished, hacked, cracked and guessed via an increasingly wide range of tools and techniques — exposing organizations to serious financial and reputational damage.
The answer is a layered approach built around effective threat intelligence, but not all solutions are created equal. This makes it crucial for IT security and fraud managers to know what to look out for in an increasingly crowded marketplace.
Why are credentials important?
Credentials are the virtual keys that protect corporate networks and systems and customer accounts from unauthorized intrusion. As such they represent a huge target for cyber-criminals, nation state operatives and even hacktivists. Stolen credentials have been to blame for some of the biggest data breaches of recent years, including US retailer Target, which led to the theft of PII and card data on up to 110 million customers; the 2014 breach of 500m Yahoo customers; and Uber, which spilled data on 57m global users.
However, credential compromise can lead to a wide range of possible business impacts. These include:
Underground Sale: If the hackers gain access to large troves of customer data (including PII, credentials and card info) or IP this information can be sold on the underground sites where there is a huge and thriving economy in stolen data. One company has estimated it could be worth as much as $160bn annually.
Identity theft/fraud: Stolen credentials can be used to hijack customer accounts to commit identity fraud: for example, making money transfers, filing false insurance claims, or purchasing items without the account holder’s knowledge. This is made easier by the fact that many users share passwords across multiple accounts. Two-thirds (65%) of global firms claimed recently they experienced the same or more fraud losses in the past 12 months. Customer attrition, brand damage and possible legal costs could result.
Blackmail: Account takeovers could also reveal sensitive and confidential information that the individual would rather was kept secret. That’s especially true of CEOs and senior executives in companies. This could lead to online extortion attempts. A notorious example of this was the 2015 data breach at infamous infidelity site Ashley Madison.
Crimeware and BEC: Cyber-criminals can use stolen credentials to hijack e-mail and social network accounts to distribute malware and launch highly convincing phishing campaigns or Business Email Compromise (BEC) attacks. BEC is now their biggest money-maker, netting the bad guys $676m last year. They could also hijack CMS and other accounts to add malicious content to websites.
Reputational damage: Sometimes the objective isn’t primarily to make money but use access to an account to damage the reputation of an individual or company. Yet even if reputational damage is not the primary intention, it is usually a secondary impact of breaches, identity fraud, hacktivism etc.
Hacktivism: Hacktivists use stolen credentials to infiltrate corporate systems to deface websites and social media accounts or even to publicly release breached data. There are serious reputational, compliance and often financial repercussions.
Espionage: Hijacked email and other accounts can be monitored over a long period of time to gather and exfiltrate data, often in nation state-sponsored raids. One campaign attributed to China is said to have run for over a decade.
The right tools
IT security teams today are stretched to the limit deflecting commodity attacks and targeted raids. With global skills shortages set to reach 1.8m by 2022, there’s no let-up in sight as credentials continue to expose organizations to the threats listed above. Threat intelligence can help, but with teams already overwhelmed with information, false positives and threat alert fatigue can be a major challenge. This makes choosing the right tools more important than ever.
The best platforms will allow you to understand your adversaries before they attack, or spot compromised credentials before attackers have a chance to sell them online. Look for solutions which:
Offer modularity and/or customizability. There’s no such thing as one-size-fits-all when it comes to credential theft protection. Consider functionality which allows you to: hunt malware including Man in the Browser (MitB) attacks; monitor hacktivism activity on social networks; find leaked, stolen and sold credentials for sale on the cybercrime underground; monitor malicious mobile apps that could steal customer credentials; find registered fraudulent domains which could be used in phishing; and analyze current phishing campaigns to feed back into user awareness classes.
Combine intelligence from a broad range of threat sources including social networks, forums and web posts on the surface web; deep web forums and closed sites; dark web sites like TOR, I2P etc; and C&C systems (via sinkholing).
Integrate into SIEM, firewalls etc. to improve ROI, and help prioritize advanced threats.
Offer pay-as-you-need: to avoid you shelling out for unnecessary functionality.
Provide the freshest (near real-time) information. This is vital to ensuring you stay one step ahead of the fraudsters to take action before they do.
Offer enhanced usability: With IT resources stretched, it pays to invest in intelligence which is accessible to all levels — not just experienced fraud analysts.
As long as credentials remain the preferred way for companies to authenticate their employees and customers, they’ll continue to be the weakest link in the cybersecurity chain. That’s why threat intelligence is essential to reduce risk and accelerate decision making, creating a formidable first line of defense to put you back on the front foot.
- To find out more on this topic, read our in-depth Credential Theft article on credential compromise and identity theft.
- The Credential Theft Ecosystem report embodies this approach – it is designed to help organizations understand the lifecycle of a compromised credential and keep their organizations’ data safe.


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A 15-year lease on a huge warehouse next to East Midlands Airport has been agreed by an unnamed ‘leading online retailer’.
SEGRO, the developer behind the warehouse, said the myserious new tenant will be moving into a 150,000sq ft unit on a 21-acre site at its East Midlands Gateway logistics park.
East Midlands Airport has recently gained "freeport" status and this new deal will include parking for 200 electric vans.
The current details about who the retailer is are yet to be revealed, reports DerbyshireLive.
A spokesman for the site said: "SEGRO has been able to provide an accelerated construction programme to enable the customer to expand its operations as quickly as possible.
"The accelerated programme will enable SEGRO to deliver the space to the customer in just over five months, rather than the nine months a standard build programme would take for a building of this size.
"Furthermore, the customer will have access to be able to begin its internal fit out after just 14 weeks.
"The pre-let illustrates the developer's 'Responsible SEGRO' commitment – a framework launched in February, which is anchored on three priority areas: championing low-carbon growth, investing in local communities and nurturing talent."
Completion of the unit is expected in August of this year.
Games Workshop, DHL, the Very Group, Nestle UK and Amazon are all existing tenants on the SEGRO site.
Andrew Pilsworth, managing director for national logistics at SEGRO, said: "This pre-let is a brilliant example of how we are supporting our customers' growth plans and showcases how we are helping them meet their sustainability goals.
"The deal highlights the region's increasing demand for modern, sustainable warehouse and industrial space, and how developments like SEGRO Logistics Park East Midlands Gateway can provide the scale, location and connectivity to meet them."


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Lyft recently removed their fleet of pedal-assisted electric bicycles from major cities including San Francisco and Washington D.C. There was a wave of reports that the front braking system was causing riders to be propelled over the handlebars of the bikes. The recall efforts were initiated voluntarily by the organization. Often these actions are the result of The Consumer Product Safety Commission (CPSC) orders.
A total of 2,500 bicycles have thus far been recalled, which equates to approximately 15% of the total number in use. A company spokesperson emphasized that the organization takes safety very seriously. The bikes are being replaced by conventional models. Lyft is currently the largest “bike share operator” in the U.S.
Consumer Product Safety Commission (CPSC)
The CPSC regulates all types of consumer products including baby products, vehicles, and household devices. Lyft’s electric bicycles are the most recent mobility product that has created safety concerns. E-scooters also have been the subject of CPSC investigative efforts lately. Other mobility products that have been concerning included golf carts, which had brake cable systems that were found to be defective.
The electric bikes use a drum braking system manufactured by Shimano, a Japanese organization. The company insists that its BR-C6000-F brakes are not defective. They claim that bicycle designers and engineers are improperly installing the brake systems. Shimano explained that the brakes are to be used according to their specifications, which they say exceed safety standards. One report suggests that an internal power modulator may be the reason that the braking force is excessive.
Failure to Wear Helmet
If riders are being propelled over the handlebars of the bicycles, the potential for severe injury is exacerbated when not wearing a helmet. Riders are somewhat unlikely to burden themselves by carrying a helmet with them. Both electric bikes and scooters have been criticized for having undersized wheels that lead to instability. When traveling on rough surfaces with potholes these products are particularly dangerous.
The UCLA Medical Center and Ronald Reagan Medical Center reported that roughly 249 individuals visited their emergency departments with related injuries. The majority of the injuries involved riders falling from the bikes, rather than from collisions with vehicles, pedestrians, or objects. The University of San Diego’s Medical Center reported that electric scooter accidents have resulted in treating 42 individuals for injuries. In the majority of cases, the injured victims are believed to not have been wearing a helmet at the time of the accident.
- Roughly 30% of those injured are first-time riders
- Approximately 63% of those injured were deemed to be “novices”
- Among those who incur head injuries, approximately 50% are not wearing a helmet
- The most common injuries to the upper body involve the arms and shoulders
- The most common lower body injuries involve the legs, knees, and feet
Future of “Micro-Mobility”
These types of transportation products are often classified as “utility-focused urban transport vehicles.” They are battery assisted vehicles that operate on wheels. In 2018, approximately 84 million people used some form of shared bicycle or scooter. It is obvious that these transportation options will continue to evolve; however, it appears that they will remain to be a safety concern.


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In order to avoid a scenario some in the industry are calling "shipageddon," UPS is taking steps to preserve shipping capacity for all its customers. The Wall Street Journal first reported that the delivery company is imposing shipping limits on some of its biggest retail customers, specifically naming Gap and Nike. The limits on shipping begin this week and will remain in force throughout the holiday season. UPS didn't name the retailers that the restrictions would affect, but the company said it is working with its retail customers to coordinate demand and capacity.
Meanwhile, Amazon, one of the country's largest retailers, has skated ahead without much shipping troubles thanks to relying on its own delivery service and drivers to accommodate its slew of shipments.


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Singapore Press Holdings has announced a 16.9 percent decrease in advertising revenue across the business year-on-year, amounting to a significant SG$102.5 million US$75.7 million.
The publisher released its financial earnings report yesterday, in which it said full-year net profit stood at SG$350.1 million US$258.5 million, a 32 percent rise. However, revenue from SPH’s media business dropped 13 percent compared to 2016, a decrease of SG$108.8 million US...
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From Medscape Medical News 3/11/09
Emma Hitt, PhD
Medscape Medical News 2009. © 2009 Medscape
March 10, 2009 — A class 1 recall is being issued on selected lots of pediatric tracheostomy tubes (Shiley 3.0PED Cuffless Pediatric Tracheostomy Tubes, Covidien Inc) manufactured from July 7, 2008, through December 9, 2008, and distributed from July 24, 2008, through December 23, 2008, the US Food and Drug Administration (FDA) says.
The recall is being issued because of complaints received about the difficulty of inserting 2 components: the device used to place the tracheostomy tube into the windpipe (the obturator) and the catheter suction tube, which is inserted into the tracheostomy tube.
"Class 1 recalls are the most serious type of recall and involve situations in which there is a reasonable probability that use of these products will cause serious injury or death," the FDA notes in the recall notice.
The company issued an urgent alert letter to customers on January 14, 2009; a second letter issued on March 6, 2009, recommends that healthcare professionals remove all remaining affected products and return them to the manufacturer for replacement or credit. The manufacturer may be contacted by telephone at 1-800-635-5267.
Specific lot numbers affected are as follows: 0806000266, 0806000858, 0806000859, 0806001328, 0807000555, 0807001444, 0807002502, 0808000387, 0808000431, 0808002285, 0810000288, 0810000289, 0810000864, 0810000865, 0810001201, 0811000228, 0811000522, 0811000523, 0811000546, 0811000547, and 0811001875.
Adverse events or quality problems associated with the use of these products should be communicated to the FDA's MedWatch reporting program by telephone at 1-800-FDA-1088, by fax at 1-800-FDA-0178, online at http://www.fda.gov/medwatch, or by mail to 5600 Fishers Lane, Rockville, Maryland 20852-9787.


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Netflix and Peloton shares are poised to lose gains made over the last two years
Stock prices of lockdown-era favorites Netflix and Peloton nosedived on Thursday, in a latest sign that the boom for stay-at-home shares appears to be vanishing.
Peloton shares plunged 24%, wiping off nearly $2.5 billion in market value, after the exercise bike maker’s CEO said it was reviewing the size of its workforce and “resetting” production levels.
Data from S3 Partners shows short-sellers doubled their profits by betting against Peloton in 2021, the third-best returning US short.
Shares in streaming giant Netflix also plummeted nearly 20%, as the company forecast new subscriber growth in the first quarter would be less than half of analysts’ predictions. It also expects to add just 2.5 million users in the current quarter, well short of estimates.
Netflix CEO Reed Hastings said there were a myriad of reasons for the company’s low guidance, pointing to increased competition as a cause.
The two firms are the latest darlings of 2020 to sink to levels not seen since the early days of the Covid-19 outbreak. Others, such as Zoom video conferencing software and the e-signature company Docusign, have also suffered downward revaluation of their stocks.
“With a return to the office and travel lanes opening, darlings of the WFH (work from home) thematic are reflecting the growing reality that the world is moving slowly but with certainty towards a new normalcy,” Justin Tang, head of Asian research at United First Partners in Singapore, was quoted as saying by Reuters.
For more stories on economy & finance visit RT’s business section


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Cowen’s Helane Becker and team argue that FedEx (FDX) and UPS (UPS) will remain the top shipping picks for eCommerce companies, despite threats by Amazon.com (AMZN) and others to other companies. They explain why.
When Nando Cesarone started working as a delivery driver for United Parcel Service Inc in Canada 23 years ago, foreign courier companies were yet to expand their wings into China, something that would not happen until 2005.
Sitting in a meeting room at UPS China’s headquarters in Shanghai, Cesarone, president of the Asia-Pacific Region for UPS, said the company is poised to grow its investment and resources to improve the carriage of high-tech and high-end consumer products to and from China over the next three years.
United Parcel Service driver John Johnson pulled up to his home. Johnson heard a faint call for help, looked and saw Johnson. He raced over and helped Heinzen to his feet, and when he was too weak to walk, carried him to the house and helped him to water.
Heinzen said Johnson saved his life.
FedEx pilots tentatively agreed with the package delivery company on an amended collective bargaining agreement, the Air Line Pilots Association (ALPA) said.
Fedex and its pilots have been negotiating on employment conditions since 2011. FedEx management filed for a mediation process with the National Mediation Board in October 2014.
UPS was shipping the fins of thresher shark and smooth hammerhead, both listed as “vulnerable,” and the blue shark, listed as “near threatened” by the International Union for Conservation of Nature. Other documents show that the company was also shipping oceanic white tips, a protected species for which trade is tightly controlled.
When pressed on the issue and presented with a petition with over 177,000 signatures, a spokesperson for UPS told Motherboard that the company “ships shark fins that are legal to ship.”
But on Monday night, UPS finally caved. The company tweeted that it was joining a growing list of others that are refusing to ship shark fins.


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Google Home Mini Stories May 15
Google Home Mini Stories April 11
Google Home devices now no longer repeat every action in Assistant routines
Arguably one of the biggest and most frustrating aspects of Google Home devices is the constant repeating of actions it has performed when you ask it to run an Assistant routine.
Google Home Mini Stories April 10
Spotify’s free Google Home Mini offer extends to Canada
Spotify and Google have been partnering up for quite some time now on giving away free Home Minis to Premium subscribers of the popular music service. Now, that promotion has extended to Canada.
Google Home Mini Stories April 2
The Google Assistant is arguably the most powerful and the outright best digital assistant on the market — of course, we would say that! As part of our Google Home Essentials series, our express aim is to help you find an array of must-have kit for your Google-powered smart home. expand full story
Google Home Mini Stories March 14
Google Assistant Continued Conversation now works in the UK
The Continued Conversation feature that was rolled out not too long ago to US users has now made the short hop over the pond meaning that we UK users no longer have to keep asking to activate Google to get answers (via Android Police).
Google Home Mini Stories March 11
Google One offers a free Home Mini to some users w/ active storage plans
After rebranding its storage plans under the Google One name last year, the company has been rolling out some perks and promos as a bonus for subscribers. Now, some Google One subscribers are getting promo codes in their inbox for a free Google Home Mini.


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Speech at the Opening Session of the China-U.S. Economic and Trade Cooperation Forum
Xi Jinping, Vice President of the People's Republic of China
Los Angeles, February 17, 2012
Governor Brown, Mayor Villaraigosa,
Ladies and Gentlemen, Dear Friends,
It is a real pleasure to come to the beautiful city of Los Angeles and attend the opening session of the China-U.S. Economic and Trade Cooperation Forum on the occasion of the 40th anniversary of President Nixon's visit to China and the issuance of the Shanghai Communique. Los Angeles is a major hub in China-U.S. economic and trade exchanges. About 40 percent of China-U.S. trade is handled here through the Los Angeles Customs District every year. It is therefore a fitting venue for the China-U.S. Economic and Trade Cooperation Forum, which offers a good platform for closer exchanges and deeper cooperation between our business communities. I wish to express my sincere congratulations on the opening of the forum, and extend warm greetings and best wishes to all the friends who have played their part in promoting China-U.S. business ties.
Over the past 40 years, especially over the past 33 years since the establishment of diplomatic relations, China and the United States have moved from mutual estrangement to close exchanges, with their interests increasingly intertwined. The two governments have put in place over 60 dialogue mechanisms at various levels and in different fields. Our people-to-people exchanges have been growing. More than three million mutual visits are made every year, with nearly 10,000 people traveling across the Pacific each day. China-U.S. relationship has become one of the most important, dynamic and promising bilateral relationships in the world. As I look back over the years, I find the following three aspects most impressive in China-U.S. business relations.
First, business cooperation has become the biggest highlight in
China-U.S. relations. The mutually beneficial business cooperation between China and the United States is expanding both in scope and scale and is moving toward a higher level. At the time when we established diplomatic ties, our two-way trade was less than $2.5 billion. Last year, it reached $446.6 billion, representing an increase of more than 180 folds. At the current growth rate, it is expected to exceed $500 billion this year. China and the United States have long become each other's second largest trading partners. For 10 years running, China has been one of the fastest growing export markets for the United States. It is the biggest market for American agricultural exports and an important market for American machinery and electronic products such as automobiles and aircraft. In 2011, the United States exported $23.3 billion worth of agricultural products to China. It means that on average, each American farm sold to China more than $10,000 worth of farm produce, and each American farmer, nearly $4,000.
Two-way contracted investment between China and the United States is now approaching $170 billion. There are over 60,000 U.S.-invested projects in China and their total sales revenue reached $223.2 billion in 2010. A survey by AmCham-China last year shows that in 2010, 85 percent of U.S.-invested companies in China saw their revenue grow and 41 percent of them had a profitability higher than their global average. At the same time, Chinese companies are getting increasingly enthusiastic about investing in the United States. Over 1,600 companies have been established in the United States through direct Chinese investment, and they cover manufacturing, wholesale and retail, business services, finance, R&D services, geological prospecting and so on. It is gratifying to see the strong momentum of such investment activities.


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Press release -
Web of deceit lands Gloucestershire company director in jail
A Gloucestershire businessman, who stole almost £265,000 of taxpayers’ money by claiming false VAT repayments for his web development company, has been jailed for three-and-a-half years.
An investigation by HM Revenue and Customs (HMRC) revealed that Robert Steele, 49, had faked invoices and bank statements, which he used to support the dodgy figures on VAT returns for his company, Clip and Ping Ltd. Between September 2010 and March 2014 Steele made 14 false claims for VAT repayments totalling £264,134.
The HMRC investigation, which began as part of the South West VAT Fraud Repayment taskforce, revealed that Steele had used the proceeds of his fraud to fund an affluent lifestyle, including paying private school fees and renting luxury homes in Gloucestershire.
Colin Spinks, Assistant Director, Fraud Investigation Service, HMRC, said:
“Steele lied on his VAT returns to receive money he simply wasn’t entitled to. He used taxpayers’ cash to fund a lifestyle that most people would consider privileged. He diverted money from the public purse to his own pocket and he showed little remorse for doing so.
“HMRC will continue to pursue fraudsters and bring them to justice for such offences. Anyone with information about people who may be involved in tax fraud can contact the Customs Hotline on 0800 59 5000.”
Steele claimed that the fake paperwork, including sales and purchase invoices, had been prepared by a colleague in Beijing but HMRC found no evidence to support this. The jury took just 35 minutes to find Steele, who represented himself at court, guilty of five counts of fraud.
Steele was jailed for three-and-a-half years at Gloucester Crown Court on 19 February 2016. He was also suspended from holding a company directorship for seven years.
Judge Alastair McGrigor, Assistant Judge Advocate General, said:
“The fraud was over a substantial period and with significant planning.”
He said Steele was "self-delusional" and had "concocted a business model which purported to be capitalised by angel investors". The Judge added that the fraud “involved £265,000 that did not go to its proper destination".
Notes for Editors
- Robert James Steele, DOB 23/09/66, of Syde, Gloucestershire (rented property), and Station Road, Churchdown, Gloucester (rented property) at the time of his arrest.
- Steele was arrested by HMRC investigators in April 2014 and charged with five offences in March 2015; two counts of fraud by false representation, contrary to section 1 Fraud Act 2006 and three counts of making or supplying articles for use in fraud, contrary to section 7(1)(a) Fraud Act 2006. He was found guilty on 12 November 2015.
- Steele was sole company director of Clip and Ping Ltd, a web software development company, known as Myfeedme Limited until July 2012.
- VAT registered businesses must charge VAT on the selling price of any goods and services that are liable to VAT. This is known as ‘output tax’ (sales).VATpaid by the business on goods and services is known as ‘input tax’ (purchases).The difference between the output tax and input tax is usually paid to HMRC as a VAT payment. If a businesshas bought more than it has sold, i.e. the input tax is more than the output tax, VAT repayment can be claimed.
- Taskforces bring together various HMRC compliance and enforcement teams for intensive bursts of activity targeted at specific sectors and locations where there is evidence of high risk of tax evasion and fraud. The teams visit traders to examine their records and carry out other investigations.
- More than 140 taskforces have been launched since 2011 bringing in more than £404 million, protecting this money for public services.
- On 28 September 2015, HMRC announced that the South West England and South Wales VAT Fraud Repayment taskforce had brought in over £10 million, since being launched in November 2013.
- Follow HMRC’s Press Office on Twitter @HMRCpressoffice
- HMRC's Flickr channel: www.flickr.com/hmrcgovuk
Issued by HM Revenue & Customs Press Office
HM Revenue & Customs (HMRC) is the UK’s tax authority.
HMRC is responsible for making sure that the money is available to fund the UK’s public services and for helping families and individuals with targeted financial support.


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This Article was last updated 1 week ago by Ola
‘The Bitcoin Standard’ Author Says Bitcoin Fixes’ Inflation And Government Control #Bitcoin #Standard #Author #Bitcoin #Fixes #Inflation #Government #Control Welcome to TmZ Blog, here is the new story we have for you today:
Last updated May 15, 2022
In the current global market volatility, the notion that Bitcoin (BTC) is a safe haven against inflation is doubtful and that the leading digital asset will plummet in the coming weeks and months.
While Ammous discussed the advantages and disadvantages of Bitcoin, he also bought challenges such as strong inflation to light that are affecting various economies around the world as the asset market is currently in recession. While speaking on these global issues, the economist said:
“I think the biggest problems in the world are easily caused by a government that gives infinite shelter to money, inflation, and public wealth, and I think Bitcoin will solve this.”
Furthermore, the economist underlines that the equivalent parameters of bitcoin have not changed and are still identical.
Most other digital currencies have been subjected to numerous hard forks, which society considers to be improvements in the existing system. While “Bitcoin cannot be upgraded, but we will always upgrade,” Ammous said while pointing toward creators and founders.
Ammous also Commented that:
“Anything centralized is easy to upgrade, Facebook, Apple, Amazon, and everything are always upgraded, so as Michael Sailor says, whose responsibility these are, these are someone’s liability, security. If you are someone who is technically and financially responsible, they can increase the supply by 10 times tomorrow.


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Looks like Mahindra has pulled the plug on its slow-selling compact SUV.
The Mahindra NuvoSport compact SUV’s production has come to an end. The dealer dispatches of the vehicle have been consistently dwindling since the beginning of this year, and in May 2018, not even a single unit of the NuvoSport was dispatched to Mahindra dealers.
This points towards the fact that Mahindra has not been producing the NuvoSport since quite a few months now. November 2017 was the last month when Mahindra dispatched the NuvoSport in two digit figures, 11 units to be precise. Furthermore, there has been no word on any official discount on this slow-selling SUV on Mahindra’s end.
Launched in 2016, the Mahindra NuvoSport has been an unsuccessful attempt to reposition the Quanto – which didn’t turn out to be very successful in the first place. The latter was one of the first sub 4-meter compact SUVs to launch in India, but it ultimately tanked because it was nothing but a shortened Xylo.
Mahindra decided to slap a fresh face onto the Quanto and rebrand it as the NuvoSport, hoping that it would lure audience. However, that new face could not hide the aging Xylo internals, including an interior that felt two generations old when compared to its rivals. And the arrival of the much more modern TUV300 in the same segment further ensured the gloomy fate of the NuvoSport.
The NuvoSport was powered by the same engine that also propels the TUV300 – a 1.5-litre, 3-cylinder diesel that makes 100bhp of power and 240Nm of torque. Mahindra offered the option of either a 5-speed manual transmission or a 5-speed AMT. The official prices of the car range from ₹7.89 lakh – 10.41 lakh (ex-showroom, Delhi).
It must be noted that Mahindra has not officially announced the discontinuation of the NuvoSport. So, it is still possible to get a hefty discount on it, if a Mahindra dealer has one in stock.


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Apple has disclosed a new extension that it hopes will make iPad devices open to more additions than ever. DriverKit, one of the many updates coming to iPadOS 16, will let producers and developers create drivers specifically for iPads for the first time, and even construct multi-platform drivers.
The tool has been available since 2019 on macOS Catalina, letting third-party USB and Thunderbolt additions be connected to macOS devices, but it is now coming to the iPad as well.
Apple: Driverkit for iPads
Producers and developers will be able to design drivers especially for iPads for the first time, as well as multi-platform drivers, thanks to DriverKit, one of the several advancements coming to iPadOS 16.
In a video announcing the launch, Apple said that DriverKit would bring a lot more affability and options for developers and end-users alike, keeping the same macOS experience for iPad users.
Adding driver support on iPad through iPadOS will make it easier for creators to make consistent accessories and devices. They can now design definite drivers for their devices especially to make them consistent with iPads.
The iPadOS 16 is the first step in that direction and till now, it only supports PCI, USB, and audio devices.
But the whole idea is much larger than just making devices consistent with iPads. As indicated, DriverKit API is also available on macOS and developers have been creating drivers for macOS for a while now. That means, that if a driver and the device are consistent with Apple’s silicon, it is also ready for iPads and developers can easily port them for iPad.
This will also grant Apple to give a desktop-level experience right on the iPad.
According to reports, the iPad drivers can be allocated through App Store. However, users will need to facilitate them manually from Settings. Also, downloaded drivers will only work when a consistent external device is connected to the iPad.


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In celebration of World Car-Free Day on September 22, Arlington's Car-Free Diet held a breakfast for local Car-Free Diet retail partners to thank them for their participation in the Car-Free Diet and how they can continue to help spread the word about going car free and car lite to the community.
The event was held at Revolution Cycles in Clarendon and provided an opportunity for business owners to meet with representatives from BikeArlington, WalkArlington, Fresh AIRE, and Arlington Transportation Partners and learn about the various transportation options available in Arlington County.
At the event, two businesses were honored with plaques for their ongoing active and local partnerships with the Car-Free Diet. The Crystal City BID received the Pioneer of the Year award for their participation in helping to bringing Capital Bikeshare to Arlington. Revolution Cycles was presented with the Partner of the Year award for their continued support of the Car-Free Diet.
Thank you to everyone who participated in this event and for helping to make it a success!


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Microsoft has confirmed to Neowin that the upcoming version of Outlook 2013 for Windows RT users will be confined to the desktop, and has not been designed as a new-style Modern UI app.
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A new post on Microsoft's official Surface Twitter account claims that the upcoming Outlook 2013 RT client for Windows RT will in fact be "a Windows Store app" and not a standard desktop app.
Microsoft has offered up some more information on the upcoming and highly anticipated Outlook 2013 RT client, which will be released for Windows RT devices later in 2013.


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Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!
Market updates on October 24
Key events ahead
ECB monetary policy statement – 14:45 MT (12:45 GMT)
ECB press conference – 15:30 MT (12:30 GMT)
Core durable goods orders - 15:30 MT (12:30 GMT)
- The start of the European trading session has been volatile for the euro. After the releases of French flash services and flash manufacturing PMIs, where the actual figures came out higher than the forecasts, EUR/USD tested the 1.1160 resistance level, but inched lower on the disappointing German PMIs and flash manufacturing PMI for the Eurozone. Further attention of traders will be on the ECB meeting at 14:45 MT. If the ECB is hawkish, the pair will rise above the 1.1137 and 1.1151 levels, where it may retest the 1.1160 resistance level. If this level is broken, the next key resistance for bulls will be placed at 1.1172. On the other hand, if the ECB is dovish, EUR/USD will slide below the 1.1130 level. After that, reaching the support level at 1.1120 seems possible. The next key level from the downside will be placed at 1.11.
- USD/JPY has moved lower to the support at 108.59. If bears break this level, their next target will be at 108.45. After that, the next support in focus will lie at 108.36. If buyers continue to dominate in the market, the 108.7 level will be broken. A further rise will be limited by the 108.77 and 108.85.
- Gold has tested the support at $1,489 (50-day SMA). If the price for the yellow metal continues to fall, this level will be broken and the next support will lie at $1,486. After that, the $1,483 level will be important. Buyers will be looking for the retest of the $1,493.2 level. Further resistance levels will be placed at $1,495, $1,497 and $1,500.
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.


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One of the many anticipated Wii U games this Holiday season is Wii Party U, the sequel to the original Wii Party. Nintendo has released yet another trailer of the party game, giving us a glimpse at even more of the many mini-games.
The new trailer showcases some of the many mini-games, such as Helicopters, Gourmet Cooking, Adventures in Space, Safari Jockeys, Swimming, Karate, and many, many more. In all, Wii Party U will feature over 80 different mini-games of all sorts. The game will be released later this month in North America, Europe, and Japan.
Wii Party U will include a Wiimote Plus controller and a GamePad stand, while still retailing at a regular $60. That’s a great deal for any Wii U owner. Wii Party U will also be part of the new Wii U bundles scheduled for release in the UK next month.
- Pokken Tournament could get US release
- Mighty No. 9 getting a live-action feature-length film
- Shin Megami Tensei X Fire Emblem will offer 30 hours of play
- Sega acknowledges they let fans down with buggy games
TAGS: wii party u


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The Economist and the Guardian are simplifying the challenges of virtual reality by launching their own apps, which offer 360 video as well as a scaled down VR experience.
The Economist first VR experience used computer graphics to reconstruct a destroyed museum in Mosul, Iraq. The content has been repackaged as an app that can be viewed with or without Google Cardboard. When viewers open the app they are asked whether they have a headset or not — and are shown different content depending on which they choose.
“In launching it for public release we knew the experience needed simplifying,” said deputy editor Tom Standage, “it needed a straightforward narrative path, rather than a full interactive experience.”
It was too technically complicated for the Guardian to tie in its VR work with its existing app so it launched the Guardian VR app last month. It was built to house its 6X9 VR experience on solitary confinement, where people can simulate the solitary experience. It can also be viewed with or without Google Cardboard. The Guardian app reached the top ten in App Annie’s news and magazines category shortly after being released, but the publisher wouldn’t disclose the number of downloads it has had. If it creates a new VR experience it would need to redevelop the app in order to house it.
VR is still young and it has a real terminology problem. Purists would say if it’s viewed on a mobile phone used through a Google Cardboard then it can’t be VR, because the viewing experience is too passive, compared to headsets like Oculus Rift, with extra functionality like motion control. Indeed, without headsets the content is essentially just 360 degree video.
Still, Henry Stuart, co-founder and CEO of agency Visualise, which helped develop The Economist app, told Digiday that from recent confidential conversations, more publishers in the U.K. will launch VR apps in the coming months.
“It’s so that people can view their content in a trusted and controlled environment,” he said. “It’s already a difficult process looking for good content on existing platforms like Facebook 360 and YouTube 360. There’s a lot of crap, and there’s going to be even more because of user-generated content.” Camera brands like Nikon are bringing out consumer 360 degree cameras adding more content to a crowded space.
Shooting a standard VR experience ranges from £15,000 – £100,000, ($22,000 – $147,000) according to Stuart, with an app costing an extra £40,000 or so ($60,000). “It isn’t that far out of advertising budgets,” he said.
Even so, publishers are still looking for business models to support VR. The New York Times VR app, which has been downloaded 500,000 times, plays its own editorial and gets brands to sponsor it, like an auto experience sponsored by a car brand.
The Economist, which hasn’t found a way to monetize VR yet, will be coupling its upcoming experience with an Economist Films piece of content in the summer. At the end of the year, another VR piece around data visualization will be coupled with an event, and these will all be accessible through the app.
Having audiences come to an owned platform is a bonus for any publisher, but a dose of realism is needed. Publishers can’t expect users to download multiple VR apps for several news sources. The opportunities in VR for taking people to places they can’t access in real life is huge, added Stuart. But “if people lose confidence in VR this could lead to a graveyard of forgotten apps.”
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