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Card Not Present Routing: The $3 Billion Opportunity for Merchants
The Federal Reserve's most recent announcement amends Regulation II to specify that debit routing applies to Card Not Present transactions. But the benefits from this aren't guaranteed. In this article, we’ll explore the impact expanded CNP routing can have for your business - and explain how merchants can avoid missing out on the estimated $3 billion in total benefits that full PINless enablement could bring.
What is Debit Routing?
Routing is the process of choosing the least cost debit network to route each debit transaction. A debit card will have multiple competing networks available to route the transaction, and card networks can differ vastly in the pricing structures they offer on a per-transaction basis. A simplified example is shown below, where Network A’s competitiveness shifts significantly based on the ticket value and strategic deals in place.
Merchants working with their processor to dynamically choose the optimal debit network for each transaction can save millions in annual card fees. But even in-store, it’s far from easy. In our experience, working to optimize routing for leading retailers is often incredibly complex, as merchants navigate issuance shifts, volume commitments, sub-optimal processor routing tools and more. Those merchants with the right tools are already ahead; CMSPI estimates that least cost debit routing has saved U.S. merchants over $1 billion annually. It is the scale of this largely-untapped opportunity online that makes getting their PINless routing arrangements right the first priority for merchants following the Fed’s announcement.
What is PINless Debit?
Currently, in-store, PIN-authenticated transactions are the only transactions that are typically offered a choice of networks. For CNP transactions, PINless authentication should guarantee the merchant’s ability to route, but current limitations have significantly depressed PINless enablement rates, thus preventing merchant from fully utilizing CNP debit routing today.
Why the Federal Reserve’s Announcement is so Important
With their recent announcement, the Fed have stepped in on a key competition limitation for merchants. As mandated by the Durbin amendment1, debit card issuers are required by law to enable at least two unaffiliated networks on each card. As a result, merchants should have the ability to choose how to route debit card payments for remote, online, and mobile transactions.
Despite regulation, stakeholders in the supply chain don’t appear to be offering merchants the network choice mandated by Durbin, which means that a merchant’s ability to route CNP transactions is currently limited (Figure 2). The dramatic increase in online transactions throughout the pandemic has shone new light on this issue, leaving many merchants who have embraced CNP transactions as a core aspect of their business paying unnecessarily higher fees.
Figure 2: PINless Volumes are LowDespite regulation guaranteeing merchants access to PINless routing, PINless volumes are a fraction of non-PINless debit, suggesting that enablement rates are low. Source: CMSPI estimates and Federal Reserve
What Could Full Enablement Mean for Merchants?
CMSPI estimates that, as of October 3rd, only 51.1% of debit cards in the U.S. have PINless functionality enabled. This is despite the Durbin amendment requiring that debit routing should be available for all debit transactions, not just in-store.
If PINless enablement were to reach 100%, CMSPI estimates that U.S. merchants are slated to save $3 billion annually.
Why Merchants Need to Prepare Now
If PIN optimization were complex enough, PINless is a whole other ball game. While most merchants’ payments partners have been equipped to handle PIN debit routing for years, capabilities across all players – from issuers, to networks, to processors, to gateways, to a merchant’s own tech stack – come into play when accessing the world of PINless.
That’s before even considering the rates retailers are paying for those transactions; optimizing incentives and volume commitments amidst a rapidly-shifting issuance environment requires market-wide insights for merchants looking to ensure they aren’t paying more than their peers. So with inflation hitting bottom lines, and a potential $3 billion opportunity on the table, merchants need to be preparing now to make the most of what the Fed’s announcement could bring.


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The next generation IPhone is expected to have a number of new features. As always before the launch of any new Apple product there are rumors. The most reliable sources are Apple insiders, Apple’s parts suppliers, and often times Chinese case and accessories manufacturers have the inside scoop. Apple purposely uses different manufacturers so no one company can compromise Apple’s so secretive products. Many of Apple’s innovative features have become known because of their recent patent purchases.
The feature of Near Field Communication is the same technology present is any Paypass credit card. Apple has recently taken a patent out for inserting this technology into an IPhone. This would mean that your IPhone would act as a phone, computer, and a digital wallet. What does this mean for your privacy and money security? Well recently thieves have been using electronics to detect the Near Field Communication of Paypass credit cards. They steal your Card number, and your name and you don’t even know that it happened. An added feature for the IPhone is a facial recognition security system. Just aim the camera at your face and then you are inside of your phone. This would replace or add to the passcode that protects your personal information. Apple has recently filed a patent for biometric security, meaning you can swipe your finger to access your phone instead of a passcode also.
Over the years of IPhone launches they have almost always included a memory upgrade from 4GB to 8GB to 16GB to 32GB. Maybe this year it will include 32GB as a standard memory and 64GB at a premium price. The IPhone is expected to keep the 199$ and 299$ price range. Much more affordable than the original 599$ and 499$. The IPhone is almost guaranteed a hardware upgrade including a new 8 megapixel camera from Sony, a 1.2GHZ processor with two cores, a new antenna meaning no more “death grip” dropped calls issue. There is speculation if there will be a larger 3.7inch screen versus the old 3.5 IPhone, and as always every time a new IPhone is released it comes with better battery life. Following the release date pattern Apple has followed for years the next IPhone is expected to launch in the summer.
But now with the new Verizon IPhone coming out soon what will happen, will the IPhone go to Sprint, ATT, Verizon, or all networks. ATT claims that its 4G network will be in a test phase over the summer. Sprint and Verizon’s 4G is already running. This will probably mean that the next IPhone will include 4G capabilities ding upon whether the IPhone goes to ATT or Verizon might decide the fate of the next IPhone’s 3g or 4g capabilities. With the possibility of the next IPhone having 4G will this mean that Facetime might be used over 4G or even 3G. The IPhone will still have people in tents waiting outside of stores, but will ATT customers stay loyal or will they transfer to better costs and better coverage at Verizon. We will just have to wait and see.

domain: news


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Openreach is keen to be involved with the Merseyside Business Expo, having identified the Merseyside region as a significant growth area for digital infrastructure. Over 100 exhibitors have already booked for what is expected to be the largest business expo on Merseyside to showcase cross-sector SMEs and organisations. 2,500 delegates are expected to attend.
Anthony Vincent, Business Development Director for Openreach said, “We’re in the grips of a technological revolution. The way business communities operate today means they rely heavily on broadband connectivity. This enables innovation through offering new products or services, helping firms attract new customers and ultimately be more competitive. We recognise the growing demand for ultrafast speeds and are proud to be at the heart of supporting economic growth in the region.”
Openreach will be taking the opportunity to raise awareness of the Government’s Gigabit Broadband Voucher Scheme (GBVS) which provides SMEs with vouchers worth up to £3,000 to connect with Openreach’s full fibre network, which provides ultrafast broadband speeds from the widest range of communication providers.
Jordan Conlin, Head of Major Events at Shout Network said he was delighted that Openreach was eager to be headline sponsors of the flagship Merseyside business event. “We’re looking forward to working with Openreach who want to meet with our exhibitors and delegates to further enhance the digital infrastructure of the Merseyside business community”.
For more information about the Merseyside Business Expo, please contact The Expo Team on 01772 642830 via email at firstname.lastname@example.org or visit www.shoutexpo.com


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Jeff Bezos, also known as Jeffrey Preston Bezos, is the founder and CEO of Amazon, the world’s largest online retailer. He owns a media company, is an investor, and is an entrepreneur. Bezos has amassed considerable money thanks to his successful business operations, and the Forbes wealth index has dubbed him the “richest man in modern history.”
Beginning with a statement from the pair that seemed sincere and clear, Jeff Bezos’ divorce announcement in January quickly descended into accusations of blackmail over nude images and a private inquiry into leaked texts.
Apparently, this is what a divorce between the richest person in the world looks like.
With supermarket tabloids regularly dishing on the couple’s enormous wealth of over $150 billion and Bezos’ steamy texts to his new girlfriend, the separation, which was officially formalized in early April, has changed Bezos’ public character from a privacy-seeking IT geek to a tabloid regular.
Beyond the realms of TMZ and Page Six, the divorce of Jeff and MacKenzie Bezos will have a significant effect on Amazon’s ownership and provide new difficulties for the business. Even though it’s improbable, the volatility might hurt customers by reducing Amazon’s explosive rate of development and expansion.
One of the largest and most noteworthy settlements in history had been anticipated as a result of the divorce. In the end, it lived up to the hype.
Drew Herdener, a spokesman for the firm, stated in January that “Jeff is very much focused on and active in Amazon.”
What you need to know about the divorce and its potential implications are provided here.
On Jan. 9, Jeff and MacKenzie Bezos jointly tweeted their decision to be divorced, stating that it came about “after a long time of love exploration and trial separation.” They intended to stay friends, according to the note. 25 years ago, the year before Bezos launched Amazon, the couple was married.
The National Enquirer, a tabloid, had contacted Bezos two days prior to ask him for comment on a story it planned to publish about Bezos and his girlfriend, Lauren Sanchez, but that information was left out of the tweet, according to a report this week in The Wall Street Journal.
— Jeff Bezos (@JeffBezos) January 9, 2019
The Enquirer said that Bezos had started seeing Sanchez, the spouse of WME talent agent Patrick Whitesell, hours following the divorce announcement. Additionally, a string of texts that Bezos sent to Sanchez was made public “Alive girl, I adore you.
Very soon, I’ll demonstrate to you with my body, lips, and eyes.” According to various press sources, Sanchez and Whitesell are no longer together.
The Journal and the Daily Beast both cited Michael Sanchez, Lauren’s brother and a dependable source for the Enquirer, as the one who sent the texts to the newspaper. He hasn’t acknowledged being the Enquirer’s insider.
The founder, CEO, chairman, and largest shareholder of Amazon is Jeff Bezos. MacKenzie Bezos is a novelist who contributed to the early success of Amazon but has since had a much smaller role in the business and has a much lower profile than her husband. There are four kids in the couple.
Former TV reporter Lauren Sanchez established Black Ops Aviation, a firm that produces aerial movies. When contacted for comment, she remained silent.
Early in April, MacKenzie Bezos received 25% of Jeff Bezos’ ownership stake in Amazon as part of their divorce settlement, which was revealed by the couple via Twitter. She is anticipated to have a net worth of $35 billion and rank among the four largest shareholders in Amazon.
— MacKenzie Scott (@mackenziescott) April 4, 2019
MacKenzie Bezos decided to give Jeff Bezos voting authority of her shares in exchange for giving up her ownership interests in The Washington Post and the Blue Origin rocket company.


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When Research In Motion (RIM) revealed in its earnings call that it was only able to ship 500,000 PlayBooks for its fiscal first quarter, rumours about the company probably having plans to discontinue the WiFi-only version of its new tablet in favor of focusing its efforts on the upcoming 4G versions and its other products started circulating on the Internet. And apparently, the rumours had built up enough traction for RIM to justify issuing an official response of sorts.
Remember Research In Motion's BlackBerry PlayBook tablet? You know, the tablet that we reviewed recently, which RIM was reportedly only able to sell a disappointing 500,000 units of? Well, it seems that news of the company's inability to report a more impressive sales figure for its new tablet device has resulted in the rumour mill churning out claims that RIM might just wind up cancelling the WiFi-only version of the PlayBook in order to focus its resources on the upcoming 4G versions, along with its other products.
And apparently, the rumours have managed to build up enough traction for RIM to justify issuing an official response of sorts, for the company has claimed in a Tweet addressed to Boy Genius Report (BGR) that RIM has got totally no plans to embark on such a course of action. In fact, the tweet from RIM also dismissed the rumour as nothing more than "pure fiction" that nobody should buy into, and the screenshot below tells it all:
With such official confirmation froom RIM, it would seem that things are looking good for users who have gotten, or are planning to get a WiFi-only version of the PlayBook soon, as they will not have to worry about their beloved tablet being given the pink slip from RIM any time soon.


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The report, which is derived from surveys of more than 1,000 advertising executives - both marketers and media buyers - responsible for recommending and/or approving ad budgets across media, is the most devastating indication yet that the U.S. advertising economy is falling into a malaise following the credit crisis and economic meltdown that has swept through the U.S. and global marketplace since October. The news follows other weakening signs for the advertising economy, including downward revisions from industry ad trackers, reports from analysts and consultants, and a general perception that the industry is in the throes of the kind of recession it hasn't experienced since the dot-com bust in 2001.
For the moment, the bright spot continues to be dot-coms, or at least online media, and the rapidly emerging mobile marketing space, both of which have more than a majority of ad budgets still expected to grow over the next six months, though even both of those fast-growing media are slowing down from the strong ad executive expectations reflected in API's previous tracking studies.
With the exception of cable TV, which is seen as mostly flat, all other major media have more downside than upside in the minds of some of the industry's top ad spenders.
The percentage of ad budgets expected to increase over the next six months for national newspapers, for example, is actually in the single digits - 9% - while local newspaper budget expectations aren't expected to fair much better (+11%).
The expectations for radio, broadcast TV, outdoor and magazines, meanwhile, could be described as tepid, at best. And according to API's own benchmarking analysis both magazines and outdoor media hit a "point of pessimistic transition" that began last Spring and continues through the fall survey's expectations.
"In this economy, nearly all advertisers need to know that their ad dollars are working, delivering results," Ken Pearl, once of the principals of API, explains. "So for sellers of advertising, demonstrating their media brands' ad results potential and delivery is absolutely essential."
Percentage Of Ad Budgets Expected To Change Over Next Six Months
Source: Advertiser Perceptions Inc. Fall 2008 report. Base = 1,001 advertising executives surveyed in October and November 2008.


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Broadcast Pix has announced the Slate G Series, which enhances and replaces its current generation of live integrated production systems, at the same price points.
The Slate G Series has a new Intel quad workstation that houses the Slate video processing boards and is powerful enough to be upgradable to future 3Gb/s 1080p boards.
The quad workstation also boosts the Slate’s built-in clip and graphics stores to HD and upgrades its built-in Inscriber CG to HD. The company also has announced new workflow software that streamlines the flow of clips and graphics from edit stations into Slate, even during a live production.
The Slate G Series is currently shipping. Its 3G upgrade is expected later this year.
For more information, visit www.broadcastpix.com.
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Scoubiloop: A Craze Jumps an Ocean
These colorful hollow plastic strands can be tied into special knots. The resulting shapes resemble everything from tiny pets to jewelry to flowers. Scoubidou is recommended for ages 6 and up and people of all ages have adopted the creative pastime.
“You see kids playing with it on the streets all the time, even mothers have become addicted to it!” Zysblat told TDmonthly Magazine.
Along with tying knots into various shapes, kids can enjoy a special “scoobie” language where combinations of various colored scoobies have different meanings. The finished creations become key chains, zipper pulls, necklaces and pen covers.
With over 30 million packs sold worldwide, the craze that is sweeping Europe is “millions bigger than Pokémon,” according to one young enthusiast. Although Scoubidou may seem like the latest fad, it’s actually enjoying at least its third resurgence after popularity in the 1980’s and its origin in France in the 1960’s.
After getting in touch with the Holland manufacturer, Zysblat became the exclusive importer to the United States in June 2005. Zysblat did make one change for the American market: instead of the traditional name of Scoubidou, it was changed to Scoubiloop, a descriptive name that doesn’t bring to mind a silly Great Dane.
Zysblat began by approaching FAO Schwarz. After he got Scoubiloop onto the shelves of this toy industry giant, other stores took notice, including many small independents and the Toys "R" Us chain. Zysblat plans to introduce Scoubiloop to the rest of the industry through a presence at upcoming major toy shows and a publicity campaign.
The original release, a 30 pack of 80 cm plastic strings for $4.99 , has recently been joined by glitter packs and rainbow packs. Scoubiloop LLC (ToyShow) will launch a 30-page book, “ScoubiFun,” next month and glow in the dark packs this December.
FAO Schwarz in New York hosted demonstrations of how to tie “scoobies” every weekend this past August and September, but Zysblat doesn’t want that to mislead observers. He doesn’t rely on demonstrations to attract new enthusiasts (90 percent of stores don’t hold them) but on current “scoobers” spreading the word. And the words he hopes they’ll be using are: creative, educational, addictive and fun.
“When manufacturers start off, they are always looking for the big sale straight away to the Kmart, Wal-Mart of this world … it’s the local street shop that creates a buzz in the area, and then hopefully it rolls on from there to the town and then the city,” said Zysblat. Yet, while he loves that the bigwigs at FAO Schwarz and Toys "R" Us gave his product the thumbs up in the boardroom, he thinks it more important to get the thumbs up at the playground.
Writer's Bio: The mother of three children ages 13, 10 and 2, Jodi Webb started out as a toy seller. She´s happy to find a job where her accountant will let her write off her toy purchases! Read more articles by this author


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E-commerce major Amazon is asking the Reserve Bank of India (RBI) to do away with the mandatory ‘full KYC’ (referring to ‘know your customer’ norms) for low-value transactions.
As the govt grapples with issues to take cashless payments to the masses, some are concerned about security and privacy issues.
Undaunted by Paytm's swagger, the 'others' in the fray give themselves a fair chance of toppling the leader.
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Welcome to the Hankook press room, where you can access the latest news on Hankook and our industry.
Hankook is convincing in independent product tests: 1st place in Auto Bild summer tyre test 2018
The Hankook Ventus Prime³ was awarded the top mark "Good" in the ADAC summer tyres test 2018.
Following the models Audi TT RS and Audi RS 5 Coupé, the tyre maker is now also supplying the Audi RS 4 Avant with its Ultra-High-Performanc...
Premium tyre maker Hankook is now supplying various treads of its SmartWork truck tyre series for use in construction site traffic, to the S...
Since November 2017, many of the new compact SUV from Citroën have been leaving the assembly line in Saragossa/Spain equipped with Hankook t...
Hankook opens the 2018 motorsport season with the 24H of Dubai: First customer outing for the new Audi R8 LMS for the GT4 class
Come the second week of January 2018, the waiting will finally be over for motorsport fans
The company launches its innovative project that challenges ideas of future driving life
Herberth Motorsport wins the Hankook 24H COTA USA and is crowned the first Champion of the Continents
Herberth Motorsport produced a stunning display with the Porsche 991 GT3 R to win the final round of the 24H Series powered by Hankook in Au...
Hankook has been preparing for the final race of the season in Austin for weeks


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Can you believe that it’s been a year since Google announced the new Google Analytics? Before now you didn’t have to make the transition if you didn’t want to but now, a year later, Google is killing version 4 and version 5 will be the only option. The link back to “Old Version – Reporting” has been removed from the footers as well meaning Google Analytics v4 is finally dead. Google Analytics v5 should help you streamline your digital marketing efforts even more.
The Google team announced this news in a blog post earlier this week. They said it was time to leave the old version behind, and offered up some links to Google analytics help center for those who are finding the transition difficult. They also mentioned a few features you should focus on for the new version.
New features in v5 include real-time analytics reports, multi-channel funnel reports for attribution tracking, a whole mess of social media tracking tools, and content experiments Google’s improved A/B testing platform.
There were reports about features missing from v5 but Google says they have addressed that. Google Analytics Director of Engineering made it clear that they have taken into account every bit of feedback they’ve received over the past few years. “We’ve been listening very closely and doing our best to incorporate the feedback and ideas,” Muret explained. “We are continually working to improve upon Google Analytics and help provide you with tools to make better decisions for your website and marketing programs.”
Do you need help making the transition? Not sure how to use all of the new features? Contact Wikimotive for help with your Google Analytics and digital marketing strategies.


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Netizens React Negatively to McDonald's Changing its Chinese Company Name
By M. Grace, October 26, 2017 23:10 PM
McDonald's China reportedly decided to change its Chinese company name from the popular "Maidanglao" to "Jingongmen," which translates to English as "Golden Arches."
News of the name change of the famous food chain in China went viral on Chinese social media yesterday, October 25 with netizens ridiculing "Golden Arches."
On Weibo, some netizens argued that the name sounded like it belonged to a rustic countryside village or a traditional Chinese medicinal shop. Some also mocked the new name and tagged it as an unpleasant combination of "earthy" and "awkward."
Others also warned the company that if they will not change the name, they will lose the Chinese market.
With this, McDonald's was forced to release an official statement on Weibo assuring the customers of the restaurants in China that it would continue to go by the well-recognized "Maidanglao" label, which is the rough Chinese translations of the company's English name.
The said name change came after the American fast food giant entered into a deal with China's CITIC Ltd. and Carlyle Group. The fast food giant sold most of its China and Hong Kong stores to the said conglomerates.
Meanwhile, McDonald's has reportedly big plans in China. The restaurant is planning to open up 2,000 more locations in the country by 2022. McDonald's is also targeting double-digit sales growth figures in Chinese mainland each year.
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Xi Jinping remains as the Chinese president.
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Plates, teaspoons, mugs and anything with pictures of Prince Harry and Meghan Markle are flying off the shelves in Los Angeles as the city's own California girl prepares to marry into Britain's royal family.
At Ye Olde Kings Head gift shop, next to a traditional British pub in the beach city of Santa Monica, demand for memorabilia has far exceeded expectations.
"It's absolutely unbelievable," said store manager Dympna Madeley, who moved to California from the English manufacturing town of Luton 23 years ago."We brought stuff in and thought we might not sell it, you know, and it was gone in the first week. We were like ‘oh my God,' so we bought more, then we bought more. It's like amazing ... really overwhelming," she said.
Madeley said British and Americans alike were snapping up souvenirs ahead of the May 19 wedding in England.
In the small store, life size cardboard cut-outs of Markle and Harry stand amid Union Jack flags, commemorative plates and teacups.
Royal-themed teaspoons, coasters, key rings and shopping bags are displayed among British favorites like Marmite, PG Tips tea bags and Cadbury chocolate.
Markle's California connections have added to the fascination - she was born and raised in Los Angeles.
Holly Gottlieb, 28, a recent transplant from London, said, "My colleagues are all American. They love it way more than I."


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Welcome to Barmy’s Daily Crypto News – November 12th, 2022
1.The future impact of interoperability in Web3 and the Metaverse
On November 11, Thomas Webb, the creator of the interoperable avatar game Worldwide Webb, met with NFT Steez, a biweekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, to explore the incorporation of interoperability in Web3 and the Metaverse.
Webb spoke of the innovation he has witnessed from NFT communities and companies as he discussed how interoperable applications can have a significant impact.
Webb contends that facilitating the development of intellectual property (IP) allows consumers to express their commitment and, in other ways, their achievement, whether it results from “making a product, developing ideas, or creating experiences.”
According to Webb, interoperability also appears to work in concert with token-gated experiences. In essence, by using the token they possess as an access pass to attend events and receive perks, users can get closer to authentic experiences.
Through cross-collaboration, user engagement, and value proliferation—or, as Webb puts it, “infinite value”—brands are able to work together thanks to this integration.
2. FTX US stops withdrawing.
On-chain data indicates that the platform has suspended withdrawals from the American-based platform on November 11, following a Nov. 10 news that FTX US may stop trading on its platform.
Users were urged to “please close down any positions,” according to the initial statement on November 10, although it was insisted that withdrawals would still be possible.
FTX US was included in a Chapter 11 bankruptcy filing in the United States, despite the FTX CEO Sam Bankman-Fried, also known as SBF, continuing to insist that everything was fine and that FTX US had not been impacted by FTX liquidity issues. It appears that things may have spiraled out of control rather quickly.
In a letter of apology to FTX US customers dated Nov. 10, Bankman-Fried assured them that “FTX US, the US-based exchange that accepts Americans, was not financially impacted by this shitshow.” He continued by saying that “every user could fully withdraw” (modulo gas fees, etc.) and that the platform was “100% liquid.”
3. Singapore MAS and the New York Fed work together to research CBDCs
A cooperative experiment with wholesale central bank digital currencies will be launched by the Monetary Authority of Singapore (MAS) and the New York Innovation Center (NYIC) of the Federal Reserve Bank of New York (wCBDCs). The potential of the wCBDC for international wholesale payments is being eagerly tested by regulators.
The MAS announced the beginning of Project Cedar Phase II x Ubin+ on November 11. As part of its framework, NYIC and MAS will use wCBDCs as a settlement asset in international transactions involving several currencies. The goal is to evaluate wCBDC’s potential ability to lower settlement risk.
According to the statement, Project Cedar Phase II x Ubin+ will not advance any particular policy outcome or signal any impending Federal Reserve decisions regarding the issuance of a central bank digital currency (CBDC). In 2023, a report containing the project’s findings ought to be made public.
4. Russian IT companies call to be allowed to make and accept crypto payments
When working for clients outside of Russia, Russian information technology (IT) companies want to be able to send and receive cryptocurrency payments. According to a plan provided to the Ministry of Digital Development, Communications, and Mass Media by the association of Russian software developers Russoft.
According to the industry group, new payment options, such as cryptocurrencies, are required to reduce the impact of financial constraints and costs, the Russian business daily Vedomosti reported on Thursday. The study recommends the creation of test legal systems that would make the adoption of such mechanisms easier.
The association’s members lament the challenges they face while trying to receive cash from outside. Rugged sanctions that were put in place as a result of Moscow’s decision to invade Ukraine have severely restricted access to the global banking system for Russian enterprises. Additionally, Russoft is urging Russian authorities to loosen foreign exchange restrictions put in place as the war heated up.
5. Indonesia Mulls Over New Financial Legislation
The Financial Services Authority (OJK) will be tasked by Indonesian authorities with overseeing, monitoring, and regulating the country’s expanding cryptocurrency market. The Ministry of Trade and the Commodity Futures Trading Regulatory Agency, which share responsibility, now regulate the market.
According to Reuters, the modification was suggested by Finance Minister Sri Mulyani Indrawati and is a component of new banking industry legislation that is now being discussed in parliament. When word spread that the largest economy in Southeast Asia was getting ready to strengthen regulation of cryptocurrency exchanges, lawmakers presented the government with the draft bill in September.
While cryptocurrency transactions are forbidden in Indonesia, commodity market investments are permitted. We need to create an effective and dependable system of investor protection and oversight, particularly for investment instruments, according to Sri Mulyani.
Stay with us for more daily crypto news. Comment your thoughts of these news on our social channels below


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Miitomo is Nintendo’s first mobile game and as we heard last week, the game is due for a release on the 17th of March, sure enough it has. Unfortunately like we reported last week, the initial release is set for Japan but we’re sure that it will eventually make its way to other markets, but for those in Japan, the game is available for download via the iTunes App Store and Google Play.
So what is Miitomo? For those who haven’t been following the news, Miitomo is Nintendo’s first mobile game title. Prior to this, the company had famously refused to create games for mobile, but ultimately they decided to give in and entered into a partnership with DeNA to help develop games for smartphones.
Miitomo is the first of many titles to come and it is more of a social game if anything. Users will be tasked to create characters/avatars, and based on their preferences and interests, they will then be matched with other players whom they can chat with. We’re not sure how “fun” such a game will be, but it is customizable in the sense that users can purchase new clothing and accessories to dress up their characters.
So far initial reviews of the game have found it to be quirky, but at the same time maintaining Nintendo’s feel that their first-party titles usually have. As for the game’s global release, Nintendo is planning for it to take place later this month, so keep an eye out for it if it sounds like something you might be interested in trying.


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Created: 03/19/2014 6:19 PM
By: Stuart Dyson, KOB Eyewitness News 4
The man who started and runs Albuquerque’s fast growing Vitality Works company has some advice for Tesla Motors – come to New Mexico!
Our state is one of four finalists for Tesla’s giant new lithium battery factory, with 6,500 jobs on the line. The other states are Nevada, Texas, and Arizona.
Vitality Works is a major supplier of herbal supplements for big brand-name natural medicines and dietary products sold around the world.
It started small back in 1982, just off Central Avenue in Nob Hill. Founder Mitch Coven used to process and prepare herbs in his own kitchen. Today the company employs 115 people in a huge plant on the city’s West Side. Vitality Works has doubled its workforce over the last three years, and plans to add another 50 employees in the next two years. Coven says he would love to tell Tesla about New Mexico workers.
“They’ll give you their right arm,” Coven said Wednesday, while Gov. Susana Martinez toured the plant. “They’ll give you their left arm, their left leg, their right leg. It’s a very eager work force here. They’re craving these jobs. They’re skilled. There are a lot of classically trained people from other industries in New Mexico.”
Coven said Vitality Works has benefitted from a number of state business tax breaks and incentives for creating new high-paying jobs. Gov. Martinez gave credit to the state’s recent tax reforms, especially for businesses like Vitality Works that export most of their products to other states and other countries.
“When there’s a profit this owner reinvests it back into the business,” Martinez said. “He makes sure it’s growing, gets larger spaces and hires more individuals, and that’s exactly what we want to do. People get to keep more of their money instead of taxing them to death.”
“While we talk about Tesla it’s also important to point out that there are a number of companies that are looking at New Mexico,” said state Economic Development secretary Jon Barela. “They’re looking at every corner of New Mexico for relocation, and that’s because New Mexico is much more competitive now.”
Mitch Coven agrees.
“We can call and reach the governor, the mayor, our senators and congress people and they’re supportive,” Coven said. “We’ve had many of those folks come and visit our facility. They know us on a first-name basis.”
So here’s another postcard to Tesla: Wish You Were Here! (With your giant battery “gigafactory” and those 6,500 jobs!)


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Hyundai and Kia are recalling approximately 1.7 million vehicles because of a brake light problem, the National Highway Traffic Safety Administration reports. According to the agency, 1,059,824 Hyundai vehicles are affected, including:
Its sister company Kia is recalling 623,658 vehicles, including:
In these vehicles, a faulty stop lamp switch may cause the brake lights to not illuminate when the pedal is depressed. This could cause other intermittent problems including: The driver may not be able to disable the cruise control, start the car using the push-button start feature or shift the vehicle in and out of Park. The electronic stability control malfunction light may also illuminate.
According to the automakers, no related injuries have been reported. "A switch that intermittently malfunctions does not affect a vehicle's brake performance," Jim Trainor Hyundai's senior group manager, product public relations, told Cars.com.
Kia will start notifying owners in May. When parts are available, Kia will send owners another notification, and dealers will replace the stop lamp switch for free. Hyundai will begin notifying owners in June, and dealers will also replace the stop lamp switch for free. Owners can call Hyundai at 800-633-5151 or NHTSA's vehicle safety hotline at 888-327-4236 for more info. Kia owners can call 800-333-4542.


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Berkshire Reported Third Quarter Record Profit Pushed by Gains from Kraft Heinz
Berkshire Hathaway Inc. reported quarterly profits that almost doubled to touch record high. This mirrors big gains on its stake that the company has in Kraft Heinz Co. Operating profits dropped due to feebler results from insurance underwriting.
The net income in the third-quarter increased to $9.43 billion or $5,737 a Class A share compared to last year's $4.62 billion or $2,811 a share. The growth in the net income was mainly pushed by a huge gain of $5.4 billion on its investments which are also majorly connected to a $4.4 billion gain from its Kraft Heinz holdings.
There was a four percent drop in the operating profit to $4.55 billion or $2,769 a share which was $4.72 billion or $2,876 a share in the last year. Reportedly, the analysts expected an average operating profit of $2,720.60 a share.
Berkshire, the conglomerate headed by Warren Buffett, 85, has operating businesses that number close to ninety which includes the General Re reinsurer, NetJets business jets and Dairy Queen ice cream and Lubrizol chemicals.
Among the big businesses of Omaha, Nebraska based Berkshire, profits dropped thirty four percent to $414 million. It grew twelve percent at the BNSF railroad to $1.16 billion. At Berkshire Hathaway Energy it dropped thirteen percent to $786 million.
United Kingdom News
- COVID-19 lockdown pushes online casino searches to 'all-time’ high
- UK Betting industry enjoys £1 billion tax rebate
- American Gaming Association urges President Trump to revise tax threshold on slots
- Careful planning must for Casinos to bounce back from COVID-19 pandemic: Experts
- German Government agrees to Lufthansa Package


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It’s time to get into e-commerce
E-commerce is your showroom’s new front door! Your web presence and online selling have never been more important than they are right now. City Furniture CEO Keith Koenig talked about it on a previous webinar so this time we take a deeper dive to help you boost sales and revenue.
Join HFA members Kenny Larson of Slumberland and Jimmy Elenz of Sheely’s Furniture & Appliance as they share how brick-and-mortar retailers are seeing online success in our COVID-19 world. It’s a can’t-miss webinar this for retailers who want to meet shoppers where they are, online.


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Everyone loves peanut butter. You can eat it as a snack or spread it on bread, peanut butter has become one of the most loved snacks of the 20th and 21st century. However, on September 24,when some peanut butter was recalled, it came as a shock to many people. The recall targeted the Sunland Inc. of Portales. Apparently the peanut butter had traces of a Salmonella pathogen strain known as Bredeney.
This strain was apparently responsible for about thirty illnesses. Of all these people about four of them were hospitalized. These cases were reported on September 25. These victims were reported to have been in contact with Trader Joe’s Valencia Creamy Salted Peanut Butter with Sea Salt.
Owing to this peanut butter, many food stores and food companies have had to recall this particular brand of peanut butter. Sunland Inc. voluntarily recalled its peanut butter and other products containing nuts and seeds. The Food Safety and Drugs Agency also investigated the peanut butter and found that the product may be lethal if consumed in high quantities.
This begs the question of whether any food that is sold in the market is safe enough for consumption. It seems more cautionary steps will be required if people are to consume any packed foods even if it is plain peanut butter. There has to be a better way to be able to detect these bad pathogens and bacteria that are causing numerous people to fall ill. With time, new measures should be developed so as to reduce food recalls of products from selves of supermarkets. This will reduce the amount of products called back to prevent mass food poisoning.


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SHANGHAI, Jun 25 (SMM) – Worries over nickel ore supply from Indonesia linger as participants await the result of the country’s quota distribution for the third quarter, SMM believes.
This is despite mines resuming their normal shipments from June 21 after the holy month of Ramadan ended.
However, shipments leaving Indonesia are likely to shrink in July when approved export quotas at Ceria and Harita mines expire. Shipments from Ceria and Harita totaled some 400,000 wmt on average every month before the holiday, accounting for 24% of the overall shipments in May. Ifishdeco mine has used up its export quotas. All these three mines have yet to secure new approvals, SMM learned.
Possible cancellation of export quotas at Blackspace, Integra and Toshida mines is also likely to further suppress the supply from Indonesia. This is due to the slower-than-expected development of their smelting projects.
Nickel ore exports from Indonesia may amount to about 22 million wmt in 2018, based on remaining export approvals that exclude those at Blackspace, Integra and Toshida mines.


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Apple has acquired Xnor.ai, a Seattle startup specializing in low-power, edge-based artificial intelligence tools, sources with knowledge of the deal told GeekWire.
The acquisition echoes Apple’s high-profile purchase of Seattle AI startup Turi in 2016. Speaking on condition of anonymity, sources said Apple paid an amount similar to what was paid for Turi, in the range of $200 million.
Xnor.ai didn’t immediately respond to our inquiries, while Apple emailed us its standard response on questions about acquisitions: “Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.” (The company sent the exact same response when we broke the Turi story.)
When we visited Xnor.ai’s office in Seattle’s Fremont neighborhood this morning, a move was clearly in progress — presumably to Apple’s Seattle offices.
The arrangement suggests that Xnor’s AI-enabled image recognition tools could well become standard features in future iPhones and webcams.
Xnor.ai’s acquisition marks a big win for the Allen Institute for Artificial Intelligence, or AI2, created by the late Microsoft co-founder Paul Allen to boost AI research. It was the second spin-out from AI2’s startup incubator, following Kitt.ai, which was acquired by the Chinese search engine powerhouse Baidu in 2017 for an undisclosed sum.
The deal is a big win as well for the startup’s early investors, including Seattle’s Madrona Venture Group; and for the University of Washington, which serves as a major source of Xnor.ai’s talent pool.
The three-year-old startup’s secret sauce has to do with AI on the edge — machine learning and image recognition tools that can be executed on low-power devices rather than relying on the cloud. “We’ve been able to scale AI out of the cloud to every device out there,” co-founder Ali Farhadi, who is the venture’s CXO (chief Xnor officer) as well as a UW professor, told GeekWire in 2018.
Xnor.ai also developed a self-service platform that made it possible for software developers, even those who aren’t skilled in AI, to drop AI-centric code and data libraries into device-centric apps.
Those two threads of innovation are woven into the startup’s motto: “AI Everywhere, for Everyone.”
“We make ‘AI everywhere’ a reality by enabling leading global brands to run state-of-the-art deep learning models on anything from a $2 batteryless piece of hardware to the cloud,” Farhadi told GeekWire when Xnor.ai was nominated for an AI innovation award last year. “We empower any developer to deploy countless AI models optimized for the edge with just a single line of code, a future where ‘AI for everyone’ is real.”
The company’s name refers to the XNOR logic gates that are part of the hardware supporting the system.
Madrona and AI2 got Xnor.ai off the ground in 2017 with $2.6 million in seed funding. A year later, Madrona led a follow-up $12 million Series A financing round with additional backing from Autotech Ventures, NGP Capital and Catapult Ventures. When the venture was spun out, it had just six employees. The workforce count is now reportedly upwards of 70 people.
Xnor.ai recently ranked No. 44 on a Forbes list of America’s most promising AI companies. The company notched several notable advances in 2019, including the development of a standalone AI chip capable of running for years on solar power or a coin-sized battery, the debut of an AI-enabled gizmo that can autonomously monitor grocery shelves; and a deal to have its edge-based person recognition technology built into Wyze Labs’ low-cost security cameras.
The ups and downs of the Wyze Labs deal provided the first hints that something big was up with Xnor.ai: In November, Wyze announced that Xnor.ai was unexpectedly pulling out of the deal, and that the Person Detection feature would have to be removed from its cameras in a mid-January firmware update. Wyze promised that it would roll out its own version of the feature later this year.
Despite repeated inquiries, our contacts at Xnor.ai declined to tell us why the company was breaking its ties with Wyze. More recently, the startup trimmed back its online presence to a single Web page with an email link. And for what it’s worth, Xnor.ai’s most recent Twitter update dates back to October.
A Jan. 8 corporate filing with authorities in Delaware, reporting a merger transaction involving Xnor.ai, backed up what we heard from sources about an acquisition.
Apple is no stranger to acquisitions of startups with Seattle connections. The 2016 purchase of Turi, whose software helps large and small organizations make better sense of the data they collect, was the highest-profile purchase — but not the first.
In 2014, the tech giant bought Union Bay Networks, a stealthy cloud networking startup. That acquisition is what led Apple to open a Seattle engineering office that’s become an AI research hub. Over the next few years, it’s due to grow into a 2,000-employee presence in the South Lake Union district, Amazon’s corporate backyard.
In 2017, Apple acquired Lattice Data, a Silicon Valley machine language startup that had three UW computer science alums among its founders and Madrona among its financial backers. The purchase price was reportedly in the range of $200 million, which would be on par with the Xnor.ai and Turi acquisitions.
Xnor.ai will provide Apple with edge computing capabilities that are in line with the Silicon Valley company’s interest in preserving data privacy — an issue that Apple CEO Tim Cook brought to the fore last year.
The issue is at the heart of a fresh controversy focusing on the Justice Department’s request to gain access to an iPhone used by a Saudi military trainee. That trainee, characterized as a terrorist, killed three people and wounded eight others last month during an attack on the grounds of Pensacola Naval Air Station in Florida.
Apple would presumably have a special appreciation for the fact that Xnor.ai’s tools can keep AI data secure on mobile devices rather than sending it to the cloud.
The Xnor.ai acquisition points to Seattle’s rising role as a hotspot for innovations in artificial intelligence and machine learning, fostered by AI2’s incubator and UW as well as home-grown heavyweights such as Microsoft and Amazon. It also points to a rising nationwide tide for AI and its applications.
AI-related acquisitions have spiked in recent years as the technology proliferates in a wide range of software sectors. Investors put a record $9.3 billion into U.S. AI startups in 2018, nearly doubling the previous year’s total. The AI sector is the second-highest emerging area based on deal activity, behind only fintech, according to a Q4 2019 report from PwC.
Axios reported last year that AI acquisitions reflect a need for big tech companies to secure scarce AI expertise. Apple in particular has been hungry for AI startups, leading all tech companies for related acquisitions in 2019, according to CBInsights.
Last October, AI2 CEO Oren Etzioni and Jacob Colker, who heads AI2’s incubator program, wrote a comprehensive analysis pointing to Apple’s Turi tale as evidence that “an unprecedented acceleration in high-tech startup creation” is on the horizon in Seattle.
“The acquisition of Turi sets the stage for more company creation over time,” they wrote. “The financial windfall from the exit begets angel investors who invest in new startups. The successful exit also whets the appetite for Turi employees to become startup founders of their own. The concentration of talent brought together by Apple creates a talent pool that become early hires of those new startups. And the cycle repeats.”
In retrospect, it’s hard to avoid the feeling that Etzioni and Colker knew more than they were letting on when they wrote their next paragraph: “All the components are now in place for this story to repeat and accelerate.”
GeekWire’s Kevin Lisota contributed to this report.


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Multi-Conveyor built a stainless-steel cleated incline trough-style belt conveyor designed to transport product waste to a customer supplied hopper.
This content was submitted directly to
Xometry (NASDAQ: XMTR), the global marketplace for on-demand manufacturing, announces the acquisition of Thomas ico-arrow-default-right
Conveyor belt manufacturer Intralox is investing $60 million to expand operations at its Hammond, Louisiana, location for the third time in four years, the company said this week.
DUBLIN--(BUSINESS WIRE )--The "Motorcycle Helmet Market: Global Opportunity Analysis and Industry Forecast 2021-2030" report has been added to ResearchAndMarkets.com's offering.
ALBANY, NEW YORK – Justin Micheli, age 34, of Schodack, New York, pled guilty today to possessing a firearm in furtherance of a drug trafficking crime.
The announcement was made by Unite
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Arizona Beverages' chairman and co-founder Don Vultaggio knows the value of a relationship.
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Maine news, sports, politics, election results, and obituaries
BELFAST, Maine — Last week’s devastating fire at the Penobscot McCrum potato processing plant in Belfast ma


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A new Prime Minister has been appointed and a new government has been formed in Ukraine. The allocation of sears in the presidium and committees of the Verkhovna Rada are already known. From this it is possible to make some conclusions, which are relevant for businesses (in terms of a decision-making system that is being formed and the impact of key personalities on the process). READ MORE.
The onset of the Covid-19 pandemic in 2020 created a seismic shift in working practices around the world, the effects of which continue to be felt in businesses today.


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- This story was delivered to Business Insider Intelligence Payments & Commerce Briefing subscribers earlier this morning.
- To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here.
- Stay up-to-date with our latest coverage on the impacts of coronavirus on technology, marketing, and the digital economy here.
The e-tailer will allow third-party merchants to resume sending nonessential goods to its warehouses later this week, per The Wall Street Journal. This follows Amazon's move to stop accepting nonessential inventory in March to prioritize product categories like baby products, grocery, health, and household to meet consumers' needs during the coronavirus pandemic.
Even as merchants regain the ability to send Amazon nonessential goods to sell on its marketplace, vendors will only be allowed to send a limited number of each product so the e-tailer can ensure it has enough space for essential items.
This move should help Amazon speed up its lagging delivery times and help its merchants survive the pandemic. Some orders on Amazon have had delivery windows that stretch longer than usual during the pandemic, and handling more nonessential orders through its warehouses should allow Amazon to shorten those timelines, attracting more sales in the process.
And as Amazon hires thousands of workers to meet demand, it should be setting itself up to raise its order capacity and fulfill more nonessential and essential orders. Additionally, many third-party merchants rely heavily on Amazon to make sales, so if they were unable to sell on its marketplace for an extended period they may have moved to other platforms or gone out of business. By accepting more nonessential products, Amazon may be able to keep more of these sellers around and continue to rack up volume from third-party vendors on its platform.
Meanwhile, brick-and-mortar retail is facing new restrictions on the sale of nonessential goods, potentially pushing more sales to platforms like Amazon if they offer what consumers are looking for.
- Some US states have prohibited essential retailers from selling nonessential goods, frustrating consumers in the process. Michigan and Vermont have ordered some retailers that are still operating to close sections that feature nonessential goods or otherwise stop selling such products, in an effort to prioritize the sale of essential goods in-store. Although these rules are likely meant to promote safety during the pandemic, some consumers became frustrated when they found they weren't able to purchase certain products at Walmart stores anymore, per Business Insider. This will limit the appeal of in-store shopping and could cause some consumers to visit stores less often.
- If more local governments adopt such rules, and platforms like Amazon ramp up their ability to deliver nonessential goods, e-commerce sales could surge. Retailers that aren't allowed to sell nonessential goods in-store can still sell them on their websites, so consumers can still access the products they want online, especially as Amazon accepts more products from its merchants. This could lead consumers to move more of their spending online for the duration of the pandemic since they may not be able to get everything they want in-store.
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If your efforts to upgrade to Windows 10 are being thwarted by a message telling you to manually uninstall software that's already been uninstalled, this might be the solution you're looking for.
An employee of Japanese security outfit Trend Micro was caught accessing the internal data of 68,000 customers and disclosing it to outsiders, the company says.
Card-skimming actors have hit the booking websites of two unnamed chain-brand hotels, the security firm Trend Micro says, adding that this was the second time it had seen a case of this threat actor hitting an ecommerce service provider directly instead of an individual store or a third-party supply chain.
That's a shame they decided to decommission such a cool distro. Any decent CentOS8 forks yet?
I'm hoping to show the powers that be how bad of a player I am soon, so I can get[…]
I've got the same problem, and we're not alone. I was permanently banned about a week ago, and have no[…]
Once in a data centre some distance away in both space and time, a switch component failed in the bowels[…]
I drool over your drollness. ... And some people say that Latin is dead, but your quotations prove that it's[…]


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As expected, Research In Motion posted strong results for its fiscal fourth quarter, with both revenue and profits up, though the company's sales failed to meet analysts' expectations.
The BlackBerry maker reported net income in the quarter of $710.1 million, up 13 percent from net income of $628.4 million in the year-ago period. RIM posted revenue of $4.08 billion, an 18 percent jump from $3.46 billion in the year-ago period and up 4 percent from $3.92 billion in the previous quarter. Analysts had expected revenue of around $4.3 billion, according to Thomson Reuters I/B/E/S.
RIM shipped around 10.5 million devices in the fourth quarter, and approximately 37 million devices during all of fiscal 2010. The company added around 4.9 million net new BlackBerry subscriber accounts in the quarter, giving it a total BlackBerry subscriber account base of over 41 million.
The company did report guidance for its fiscal first quarter of 2011 that topped Wall Street expectations, but questions have persisted about RIM's ability to compete in the crowded smartphone market, where it is seen as being vulnerable to challenges from Google's Android platform, Apple and Nokia. Research firm Canalys still predicts RIM to be the North American smartphone leader this year, but its market share is expected to drop from 49 percent to 43 percent. Android, meanwhile, is expected to see its market share jump from 9.7 percent to around 19 percent this year, according to Canalys.
Investors appeared troubled by RIM's earnings announcement; the company's stock fell around 5 percent immediately after the news to around $69 per share in after-hours trading.
RIM brushed aside concerns that its business in North America was faltering, and said that it added more subscribers in the region in the quarter than in the previous period. "North America is doing very, very well," RIM co-CEO Jim Balsillie said on the company's earnings conference call, according to Bloomberg. "Don't misconstrue something that shouldn't be misconstrued."
"Although the quarter disappointed relative to heightened expectations (even when accounting for inventory adjustments), we believe guidance was within higher expectations," UBS analyst Maynard Um wrote in a research note to clients. "However, gross margins are expected to decline through the year ([due to a] new product mix) and average selling price guidance was weaker than expected."
Um said RIM's outlook remains cloudy due to a possible new iPhone from Apple, seasonality in August and increased competition. RIM's average selling price to carriers in the past quarter was $311, a little below analyst expectations, and the company said it will drop to between $305 and $310 this quarter. Balsillie declined to comment on reports that Apple is preparing an iPhone that could work on Verizon Wireless' network.
Analysts: RIM poised for strong quarter
Canalys: RIM, Apple will lead smartphones, but Android lurks
RIM unveils new BlackBerry browser
Rumor Mill: RIM working on new touch-based OS
BlackBerry revenues, profits swell in Q3


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It's been almost 20 years since OpenTable launched in 1998. Now seating more than 23 million diners a month in 43,000 restaurants worldwide, it's still a force to be reckoned with, but the New York Times details the company's recent devaluation and other woes, and calls it a "power under siege." That's not just because an entire generation of competitors is nipping at its heels, but because, even all taken together, two-thirds of reservations are still made by phone—at least according to Yelp, once a partner of OpenTable's but now a rival. For one, some people prefer to talk to a real person and always will. "My desire to speak to a human transcends the need to just make a reservation," a marketing executive says.
Then there's the issue of fees; OpenTable charges restaurants $1 per person in a reservation, plus hundreds in monthly fees. "OpenTable was charging me for customers I already had and knew well," the proprietor of Dosa in California says, adding that he paid up to $50,000 in fees not counting the monthly fee. OpenTable's competition is getting certain details right, like Resy (which boasts 1,000 restaurants in 80 cities across the US) introducing wait lists to bring no-shows from 15% to under 4%. There's also the one-size-doesn't-fit-all issue, because high-, middle- and low-priced restaurants can have dramatically different needs. Will OpenTable survive? All we know for now is that Priceline bought OpenTable for $2.6 billion in 2014, but has since written off $941 million of its value. (Read more OpenTable stories.)


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Microgaming Network’s popular skin, Ladbrokes, has announced a long term licensing agreement with Playtech to move its poker products to the iPoker network.
The Playtech-Ladbrokes deal allows the struggling operator to utilize industry leading technology and gain advice from its consulting firm, PT Turnkey Services. Ladbrokes hopes to reverse its recent annual revenue decline of 39% through the use of the rapidly growing Playtech platform. In addition to its deal with Playtech, the operator has also acquired The Nation Traffic (soon to be named Ladbrokes Israel) to bolster its customer service and marketing campaign.
Ladbrokes plans to move its entire offerings to the Playtech platform over a set period of time beginning in May 2013. The operator plans to launch an initial “Vegas” tab that will offer Playtech casino and game suite products on the mobile and tablet devices.
Ladbrokes has also announced the migration of its poker products to the largest network in the world. The flagship skin for MPN has seen its poker products struggle in the face of strong competition from independent PokerStars and Full Tilt Poker. The migration will allow Ladbrokes to reinvent its product and move to a rapidly growing network. Although the timeframe for this move has not been announced, the operator hopes for a smooth transition to the iPoker network following its contractual obligations to the Micrograming Network (MPN).
The Playtech-Ladbrokes deal comes two weeks after William Hill announced its £424m purchase of software provider’s 29% stake in the popular operator. The purchase voided the non -compete clause of the initial agreement and allowed Playtech to take on business ventures with rivals such as Ladbrokes. The recent business moves have bolstered the stock prices of the three companies and has given more flexibility to Playtech and William Hill.


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Tech is becoming more versatile — but what about the bags we carry it around in? Today, July 6, Australia-based bag company Alpaka launched a Kickstarter campaign for the Shift Pack, a versatile backpack that can accommodate a camera or drone while also toting around a laptop or tablet.
The bottom of the Shift Pack holds a padded compartment that’s the key to the bag’s versatility. This space is big enough to accommodate a DSLR and a lens or even DJI’s small folding drone, the Mavic. A laptop sleeve in the bag’s main compartment can house up to a 17-inch laptop or tablet. Different bag packages offer users the extra inserts and options needed to convert the bag for different carrying options.
The bag’s roll-top main compartment is what allows the backpack to convert from gym bag to a day at the office. The roll-top allows the bag to expand to an even larger top compartment allowing users to quickly adjust the bag to accommodate more gear. That main compartment is also accessible via a front zipper. The Shift Pack also hides away valuables like cash and a passport inside a hidden pocket.
The Shift Pack can also be expanded using a modular utility pouch system that adds extra storage on the bag’s shoulder straps.
Alpaka says the Shift Pack is designed for comfort while traveling, with a leather-wrapped carrying handle, contoured back, and padded shoulder straps. The back of the bag also has a sleeve for attaching the bag to the handle of a rolling suitcase.
The options continue on the bag’s exterior, with users choosing from either a black weatherproof nylon or a faux wool high-end finish in blue or gray, both complimenting a rip-stop nylon interior. The design is rounded out with waterproof zippers and magnetic latches for quick access pockets.
The Shift Pack is Alpaka’s follow-up to the 7ven messenger bag, which successfully launched after a Kickstarter campaign in 2016. The Shift Pack is looking to crowdfunding for the launch as well, with the campaign opening on Thursday, July 6. Backers can support the Shift Pack launch by making pledges, which start at $159.
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- Ona reimagines six favorite camera bags in new collection
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Samsung is chipping in some engineering know-how toward Mozilla's pursuit of a new programming language that it hopes will be a holy grail of code.
Netflix makes no secret of its goal to beat the cable king, and it lines up a new show from Apatow, whose TV work right now consists of the premium network's "Girls."
As clashes mar tech's epicenter, entrepreneurs find that fleeing San Francisco for up-and-coming startup hubs can offer unique advantages.
A new kind of computer game lets players kill, or help, each other, giving gamers a mirror to examine their morals.
Apple's new computer language Swift promises to prevent the programming problems that have plagued its predecessors.
Thomas Lee hopes to bring the Internet of Things into the mainstream. If the tech industry can play nice, he may succeed.
Gal, recruited six years ago by former CTO and short-lived CEO Brendan Eich, brings continuity to the nonprofit organization's top techie job.
Detectives Rust and Marty have fun finding clues and getting into trouble in these retro book covers inspired by The Hardy Boys. Artist Todd Spence reveals why his homage works so well.
A scientist says he's created the world's first true atomic wristwatch, packing a chip-scale atomic clock into a wearable carbon fiber case. And yes, he's made watches before.
You may or may not have read about Citroen's C4 Cactus recently. You can make your own minds up on the styling; suffice to say it's an acquired taste, and is sure to spur lively debate as they start appearing on the roads.


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Autopilot upgrade aims beyond driver safetyMon, 26, Sep 2016
Tesla Motors' most recent Autopilot upgrade does a better job of reminding drivers that it doesn't put the car in self-driving mode and that it's actually more of a next-level cruise-control setting.
Musk: Minimum-wage billionaireMon, 12, Sep 2016
Elon Musk takes pride in his Tesla Motors' salary of $37,584, minimum wage in California. But stock options incentivize Musk to aim high -- really high.
Phony Elon Musk e-mail prompts investigation by oil services firmFri, 16, Sep 2016
Quest Integrity Group said it’s looking into a claim that its finance chief impersonated Elon Musk in an e-mail to get inside information on Tesla, while calling “absurd” the electric car maker’s allegation of an oil industry conspiracy against alternative energy firms.
Tesla Autopilot to use radar after fatal Model S crashSun, 11, Sep 2016
Autopilot, the semiautonomous driving technology in Tesla vehicles, will rely on radar rather than information primarily gathered by camera sensors to initiate braking, CEO Elon Musk said on Sunday.
Musk targets naysayers, urges Tesla workers to cut costsFri, 02, Sep 2016
Elon Musk sent an e-mail to Tesla employees urging them to cut costs and deliver "every car we possibly can" in a push to show positive cash flow in the third quarter. The CEO of the EV maker said it would be the company's last opportunity to show improved financial numbers before Tesla tries to raise more money.
Tesla postpones details on Autopilot updateWed, 31, Aug 2016
Tesla postponed the release of details on updates to its Autopilot feature until the end of the weekend, CEO Elon Musk said Thursday in a tweet.
SolarCity adviser Lazard made mistake in deal with TeslaWed, 31, Aug 2016
Lazard, the investment bank that advised SolarCity on its $2.6 billion sale to Tesla Motors, made an error in its analysis that discounted the value of the U.S. solar energy company by $400 million, a regulatory filing by Tesla showed on Wednesday.
Tesla plans to raise additional cash this yearWed, 31, Aug 2016
Tesla plans to raise additional cash this year to help fund development and production of its new Model 3 sedan and build out a giant battery factory, the company said today.


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HONG KONG: Brilliance China Automotive Holdings said it expected to record a net profit for the first half of 2010 versus a loss for the same period a year ago, helped by strong earnings from joint venture BMW Brilliance.
The company said in a statement late on Wednesday that sales of BMW sedans by BMW Brilliance had increased by over 50 percent in the first half of 2010 compared to the same period in 2009. It gave no further details.
Brilliance China, the country's top minivan maker, also said discontinuation of its Zhonghua sedan business had a positive effect on its earnings.
Earlier this year, Brilliance China said it expected to post a "very satisfying" profit this year on strong demand for cars produced by its joint venture with Germany's Bayerische Motoren Werke AG.


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The U.S. Department of Transportation is making $2 million in quick release emergency funds immediately available to the California Department of Transportation for the Paramount Boulevard overpass set ablaze by a fuel tanker explosion on the 60 Freeway in the Los Angeles area.
SR 60, also known as the Pomona Freeway, is a vital route for trucks moving freight between the ports of Los Angeles and Long Beach to distribution centers and warehouses in the Inland Empire east of the city.
The Paramount Boulevard overpass sustained extensive damage in the blaze on Dec. 14, and Caltrans already has completed partial demolition of the structure.
Affected tractors are equipped with an automated Eaton UltraShift Plus or Eaton Advantage Transmission with right hand stalk shifter. In the affected trucks, the display on the instrument panel can indicate “N” when the shifter is set into “D” or “R,” causing the truck not to move.


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2015 State of Disc Golf: Manufacturer’s Overview
The results are in, and once again this series of blogs will examine the numbers, the changes, and the interesting aspects of our opinions about disc golf. We sincerely appreciate everyone who took the time to share a little bit about yourself so that we can get a better picture of the disc golf community.
We will begin by looking at the brands we like and the changes from the last survey.
With the certainty of Paul McBeth sinking a 10-meter putt, Innova dominated the category of ‘Favorite Brand’ again this year. Last year they not only led the category, they also had an increase in percentage of respondents from the previous year. This year’s survey showed a little different picture. The undisputed champion (pardon the pun) of the disc golf world slipped a little bit, dropping from 48% to 43%. But, that’s still higher than the 2013 survey (38%). The next few positions experienced a few changes, but not big numbers. Discraft dropped from second place at 12% last year, to fourth this year at just under 10%. Dynamic Discs gained some ground, going from fourth last year with 6%, to second this year at nearly 12%. In third place, Latitude held steady at 10%.
When taken as a whole, the three members of the Trilogy brand (Westside, Latitude 64, and Dynamic Discs) were the favorite of 26% of respondents.
It is interesting to note that nearly a third of us changed our favorite brand from last year. With that much change, there is potential for some big swings in numbers. Yet, other than Dynamic Discs’ 6% increase, none of the changes were drastic.
Just Can’t Wait!
Although it is interesting to explore our favorite brands, there are other statistics in the survey that give a clearer picture of which brands are important to us. For example, the question “From which brand do you most look forward to new releases” showed a lot more even distribution of votes across manufacturers. According to the survey, 22.5% of us look forward to new releases from Innova. They are still number one in this category, but that is nearly half the number of respondents that chose Innova as their favorite brand. The second-most anticipated release is from Dynamic Discs at 15.3%, and rounding out the top three is Latitude 64 with 11.9%. Incidentally, nearly 12% of us don’t really look forward to new releases.
Is Innova going to lead every poll category? Nope. For the question, “Which brand is the most innovative?” MVP edged out Innova for the lead spot, 23.2% to 22.6%. MVP gained in percentage about what Innova lost. The two companies have been trading positions for the last few years. The third and fourth positions were held by Dynamic Discs and Latitude 64.
Innova isn’t just dominating nearly every poll category, they are garnering respect from more than their die-hard fans. In the category asking which manufacturer has the best reputation, Innova took a huge lead over second place, getting 58.2% of the votes. The next closest was Dynamic at 12.9%. Perhaps people know how long Innova has been involved in the sport. Maybe it’s their sponsorship of so many events. Maybe it is the fact that they sponsor the four-time world champion, and other world-class disc golfers. It could even be their thorough selection of discs. This does not seem to be the type of category that would be inflated because of Innova’s wide and varied distribution channels. It just appears to be a nod to an old, established company. Whatever the reason, the number of respondents who voted for them far exceeds the number that chose Innova as their favorite brand. That’s pretty impressive.
Similar to last year, about 6% of us have only one brand in our bags. Most of us are happy to throw discs from a variety of manufacturers, but these loyalist only throw a single brand. Innova aficionados make up 54% of the single-brand supporters. Discraft devotees come in second at 14%, and Prodigy proponents come in third with 8%. The survey didn’t ask for how many of each brand people had in their bags, so there could be a good percent of us who could be close to having a one-brand bag. However, most disc golfers love to experiment with brands, discs, and plastics (or rubber!).
What are you throwin’?
Now it’s time to turn away from how we feel about certain brands and turn to one of the most interesting and telling indicators of what manufacturers we like: what discs are in our bag. As I mentioned before, indicating which brand is our favorite, or which disc company is most revered, does not paint a clear picture of what we huck. So, let’s take a peek inside the bags of the thousands of people who responded. Spoiler alert: Innova won this category, too.
It won’t come as a shock to anyone that most of us have at least one Innova disc in our bag. Again, they are one of the oldest manufacturers, host the widest selection of discs, can be found in a bigger variety of stores, etc. Over 83% of us are carrying around at least one Innova. That number is down ever so slightly from 86.8% last year. That is not a huge decrease, but it will be interesting to see what the future holds for the disc giant.
The second-most common disc manufacturer in our bags is Discraft, with 62.8% of us toting around the brand. Last year 69.2% of us carried Discraft, which is a lot bigger year-to-year drop than Innova. Whose discs are poaching the bag space from these two giants? The members of the Trilogy are. Latitude 64, Dynamic Discs, and Westside, in that order. Latitude 64 went from 42.3% last year, to 49.6% this year. Dynamic Discs experienced a bigger gain, shooting from 35.3% to this year’s 48.6%. Westside also experienced a large increase in fans, moving from seventh place at 26.1% last year, to fifth place at 36.5 in this year’s survey.
As we’ve seen in the past couple years of conducting the survey, the numbers among the top companies ebb and flow. The growth of the sport creates opportunities for smaller disc companies to stake out their position in the world, and try to create a few more chinks in the armor of the big boys. Newer golfers may be more willing to try different brands, perhaps even with an attitude of rebellion against the “establishment” of older companies. Although the market will prevent too many new competitors from emerging, several existing companies are making headway into what was formerly the domain of Innova and Discraft. Whether newer companies can overtake the top brands remains to be seen, there are a couple of factors that I assert will affect the chances of growth for smaller companies:
- Becoming the discs that beginners start with. Most of us have a soft spot in our hearts for our first discs. I suspect they affected our buying habits for a long time. By actively introducing new players into the sport, manufacturers stand the chance of becoming their go-to brand.
- Find the plastic/mold that becomes popular. Okay, it is a lot more difficult to find the next hot model than just releasing a bunch of new discs. But, by continuing to experiment with new materials and molds, the chances of hitting a popular disc goes up.
- Sponsorship certainly helps keep their brand in people’s minds. Especially if you get lucky and sponsor a world champion.
It is fun and interesting to look at how we view the companies in the disc golf world. Although we can only speculate as to what is driving some of the numbers, it is still interesting to look at data from the survey and see what is the most current snapshot of our preferences in brands. In the next few blogs we’ll continue to look at who we are and what we like.


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PALMER — Evergreen Dental staff celebrated their arrival to downtown Palmer with a ribbon cutting ceremony hosted by the Greater Palmer Chamber of Commerce April 16.
“It’s always exciting to have a new business come to town,” Palmer Mayor Edna DeVries said.
Evergreen Dental owners Clint Henrie and Kent Marchant opened their practice in the fall of 2020. They’ve participated in numerous community events including Colony Christmas and the Chamber’s Halloween event.
“I think it’s great. Those guys were so nice and they’re from small towns and they want to be a part of a small town,” Palmer Chamber Executive Director, Ailis Vann said.
Henrie said they feel right at home in Palmer’s small yet supportive community. He said it’s a “breath of fresh air.”
“We just like the feel of a tight knit community... when you grow up in a small town they can’t take that out of ya,” Henrie said with a laugh. “We’re both small town raised kids; that’s what we want to be a part of.”
According to Merchant, their total call volume has been steadily increasing since they opened. He said the ribbon cutting and continued interest from the community is very encouraging.
“We’re growing,” Merchant said.
Henrie said their mission is to provide high quality across the board. He said they’re not in it for the money.
“This is more of a labor of love,” Henrie said.
According to Vann, the most recent ribbon cutting prior to this event was for Cobb Street Market’s new location earlier this year. Prior to that, they cut the ceremonial ribbon for Matanuska Brewery and Tap Room’s new restaurant addition in the fall of 2020.
“With COVID, it’s scary. A lot of businesses are struggling. They’re not all thriving but they’re surviving and I think that’s because there’s so many wond people that are willing to spend money and buy local instead of getting things online and all that. It’s very encouraging to me that retail space doesn’t stay open very long in Palmer and there’s always people asking…” Vann said.
DeVries said the constant flow of ribbon cuttings for new and existing businesses and the anticipation of upcoming community events and activities like Who Let the Girls Out and Friday Fling is encouraging after a long and isolating year plagued by the pandemic.
“People are just anxious I think just to get out and get around… You think about where we were this time a year ago… It’s nice to put all of that behind us,” DeVries said. “We want these businesses to survive.”
Evergreen Dental is located at 125 West Evergreen Avenue in downtown Palmer. For more information, call 907-531-3477.
Contact Mat-Su Valley Frontiersman reporter Jacob Mann at email@example.com


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This past year, 2020, has provided multiple reminders of how sudden, devastating losses can hit cannabis producers and business owners, and the need for comprehensive insurance for the industry. It also demonstrated how federal prohibition poses a unique set of challenges for cannabis businesses compared to their peers in other industries.
As racial justice protests gripped cities across the United States in late May, looters took advantage of the situation and set their sights on dispensaries. On the West Coast alone, dozens of cannabis retail operations reported looting, with some reporting tens of thousands of dollars in damage and stolen merchandise. Just a few weeks later, the worst wildfire season on record saw more than 8.7 million acres of forest go up in flames, including in some of the most important cannabis cultivation areas of California and Oregon.
Many of the cannabis businesses affected by those events will not be receiving insurance payouts.
‘Because it’s federally illegal, they are not writing the risk’
“The biggest obstacle is the legality. Just the fact that it’s federally illegal, the number of carriers willing to write the risk is relatively small. So, a lot of the quote on quote, name brands, carriers that we would ordinarily go to, because it’s federally illegal they are not writing the risk,” Spencer Scheitler, a cannabis focused insurance consultant, told The Cannigma earlier this month, explaining the apprehension of major companies in an industry defined by risk and risk aversion.
According to Scheitler, the likelihood of cannabis becoming legal on the federal level is increasing interest among some of the big name insurance providers. Also at play, however, is something of a “lack of thought leadership in the cannabis space” where many cannabis companies place more weight on price, than long-term risk management strategy. In addition, he said cannabis companies may struggle to stay up to date on Occupational Safety and Health Administration (OSHA) guidelines and other workplace safety measures that can help reduce risk — as well as insurance costs.
Scheitler’s colleague, Andrew Azzarello, said so far he isn’t seeing a lot of the traditional P&C insurance carriers getting into the game, though there are about 25 carriers that he knows of that are active in cannabis insurance.
“They’re hesitant to jump in because of the fact that it’s federally illegal. Even some brokers who are stepping into the marketplace are just becoming comfortable,” Azzarelo said. “I know some brokers would say, ‘we can do it but let’s not advertise it,’ but now everybody’s becoming a little more comfortable with it.”.
In the meantime, because it is such a limited marketplace and so few companies are buying in, the coverage terms and pricing aren’t as easy on the wallet as in other agricultural fields, Azzarello said.
Insurance that won’t cross state lines
This is arguably another way in which federal prohibition and the lack of access to credit makes the cannabis industry a much more challenging ecosystem for small business owners who don’t have access to large amounts of capital.
Azzarello also explained how because it is federally illegal, cannabis companies have traditionally only been able to get coverage on a state-by-state basis. In other words, if a cannabis company had warehouses or grow operations in California and Nevada, they would need to get separate coverage for both — the insurance coverage would not cross state lines.
Another way that federal prohibition complicates things is that it makes dispensaries cash-only businesses because most large financial institutions don’t want to get involved with anything that is still illegal on the federal level. This makes dispensaries especially high risk for robberies and employee theft, something that would change to a significant extent if they were able to operate mainly on credit.
That could also be remedied by way of legislation like the SAFE Banking Act, which would free up banking institutions to service the cannabis industry even without federal legalization. Slight progress on that front can be seen in the passing of the 2018 Farm Bill, which removed hemp from the Controlled Substances Act, making it legal on the federal level as long as it has less than 0.03% THC.
When it comes to the actual insurance coverage provided to cannabis companies, it can be quite similar to other fields, Azzarello clarified. Cannabis operations involve crop insurance, packing and shipping facilities, and delivery drivers and vehicles just like other crops. Cannabis warehouses, dispensaries, and farms have to deal with worker’s compensation claims just as any other business. That said, unlike most other agricultural companies, employee theft seems to be a large claim driver with cannabis companies, Azzarello said.
Not enough companies sell insurance, so prices remain high
In the meantime, we are facing a situation in which not enough cannabis carriers are in the marketplace, making prices less competitive.
Federal legalization could help fix that, he explained, because “we would see more carriers enter the space, which will create cost lowering and then more coverage will be available,” Azzarello clarified.
Other areas in which insurance could help cover cannabis providers is through product liability, general liability, equipment breakdown, group health benefits, property insurance, cargo coverage, cyber liability, and site pollution, among others.
For now, it’s easy to see the potential opportunities for insurance in cannabis. With an estimated $1.2 billion in cannabis crop losses due to wildfires in California alone, the ability to purchase affordable, comprehensive insurance coverage would seem to be a no-brainer for cannabis growers, manufacturers, and retailers — once it becomes more available with more competitive pricing.
Editor’s note: This article has been re-edited for clarity.
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Delhi: Meta-owned popular photo-sharing app Instagram is rolling out some changes to its navigation bar. While the Shop tab will be removed from the homepage, the button to create a new post on Instagram will be placed at the bottom center of the navigation bar. The Reels button will also be placed on the right side of the bottom navigation bar. Instagram introduced the Shopping feature to its mobile app in 2018 and added a new Shop tab to its app’s home screen in 2020. As announced in a support article by Meta, the Shop tab will be removed from the Instagram app in February 2023.
New post button instead of reels button
The social media giant said that some changes will be made to the navigation bar to make it easier for people to do so. Connect with their friends and interests. Changes will also include replacing the Reels button in the center of the bottom navigation bar with a new post button. The Reels button, meanwhile, will be moved to the right. While the app will no longer have a Shop tab, the company shared that it will continue to invest in the shopping experience for people and businesses within the Instagram app across Feed, Stories, Reels, ads, and more. Therefore, users will still be able to set up and run their business on Instagram. The Shops feature on Instagram is only available in select countries.
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Instagram rolling out notes, candid stories feature
Notably, Instagram introduced shopping features in 2018 and brought the Shop tab along with the Reels tab in 2020 during the COVID-19 pandemic. This feature was added to help small businesses expand their reach and connect with users through Instagram. Last month, Instagram rolled out a host of new features including Notes, Clear Stories, Group Profiles, Collaborative Collections and more. The Notes feature lets users update their friends using text and emoji, and replies to Notes arrive as direct messages (DMs) to the user’s inbox. Instagram’s candid stories feature, on the other hand, enables users to click a candid picture from the stories camera and share their real-time activity with their friends and followers.


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Korea Herald | 11 Sep 2017
THAAD reprisals undermine China FTA
By Kim Kyung-ho
China has shown no hesitation in disregarding its obligations under the free trade agreement with South Korea to take retaliatory measures against the deployment of a US missile defense system here.
This behavior is reinforcing the perception that Beijing cannot be expected to abide by international norms, such as the separation of politics from economic affairs, when it feels the need to advance or defend its interests.
China is threatening to intensify retaliation against South Korea after additional launchers for the Terminal High Altitude Area Defense system were deployed last week in response to North Korea’s latest and most powerful nuclear test.
There were hopes the free trade deal signed in 2015 would help eliminate discrimination against and strengthen protection for South Korean companies exporting to and investing in the world’s second-largest economy.
But it didn’t take long before the country’s trade negotiators and corporate officials realized the deal was not enough to guarantee free and fair business with China.
Beijing began to take retaliatory steps in July last year, when Seoul agreed to the deployment of a THAAD battery to cope with growing nuclear and missile threats from the North. China says the deployment poses a threat against its own security interests.
The installment of the first batch of THAAD launchers and a radar earlier this year led China to step up its reprisals, while Chinese consumer sentiment sours against South Korean products.
Since March, retail giant Lotte has been ordered by Chinese authorities to shutter 74 of its 112 outlets in China for violations of safety, sanitary and environmental regulations — rules which have not been applied to other chains.
It has suffered losses of about 500 billion won ($442 million) over the past six months, with its sales there in the second quarter remaining at a mere 21 billion won, just 7 percent of the turnover during the same period last year.
Hyundai Motor saw its Chinese sales in the first seven months of this year decline by more than 40 percent from a year earlier to 351,292 units. Its factories in China were recently compelled to stop operations for days as local suppliers suspended parts delivery due to delayed payments.
Hyundai Motor has been restricted from remitting cash from here to Beijing Hyundai Motor, a 50-50 joint venture with a Chinese state-owned firm, to ease its financial crunch. BAIC Motor, the Chinese partner, is pressuring Hyundai Motor to change parts suppliers to local ones to reduce production costs.
The Chinese government has also excluded electric vehicles equipped with Korean-made batteries from its subsidy schemes.
Such restraints on Korean companies apparently run counter to the provisions of the trade accord, which guarantee most-favored-nation treatment and nondiscrimination against local businesses.
China can also be deemed to have disregarded the free trade deal by imposing an unofficial ban on group tours to Korea and banning the country’s pop artists and cultural contents from entering the Chinese market.
Corporate discontent with Seoul’s passive response to Beijing’s retaliatory moves has been rising.
“China’s retaliation regarding the THAAD deployment is an issue that should be dealt with on the government level,” said an official at a Korean business association, requesting not to be named.
“But the government has so far prodded companies to work out responsive measures on their own,” he said.
Most restraints on Korean companies may be taken to the process of investor-state dispute settlement, as stipulated in the trade accord.
But experts say it would carry too much risk for Hyundai, Lotte and other Korean firms to sue the Chinese government.
Under their free trade accord, South Korea and China run a ministerial-level joint committee and 13 subpanels in charge of special areas to ensure the obedience of obligations on both sides.
But Seoul has remained cautious on calling for these subpanels to be convened to protest Beijing’s retaliatory measures.
A government task force set up to deal with trade issues with China plans to hold a meeting this week to discuss ways to respond to the possible strengthening of China’s reprisals.
An official at the Ministry of Trade, Industry and Energy said South Korea will raise issue with China’s retaliatory moves at some subcommittees’ meetings scheduled to be held later this month.
He said the ministerial-level joint committee has yet to arrange for its next biannual conference. Its session in January, which was attended by director general-level officials, shunned the issue of China’s economic retaliation.
Beijing’s disregard of the trade accord would be further spotlighted if it keeps itself from negotiating with Seoul on details of an agreement on service and investment by the end of this year as envisioned by the 2015 pact.
Choi Won-mok, a professor at Ewha Womans University Law School, said the government’s response to China’s moves seemed little different from dereliction of duty.
He said South Korea needs to react more strongly, for instance, by sending a signal it could consider withdrawing the market economy status given to China.
Citing China’s unfair practices, the US and other Western advanced economies have refused to grant such status to China as agreed upon when China joined the World Trade Organization in 2001.
By Kim Kyung-ho (email@example.com)