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Genusee: Investing in a Circular Economy
See what happens when fashion meets sustainability
We are excited to announce our Program Related Investment (PRI) in Genusee, a company located in Flint, Michigan, that upcycles plastic water bottles into cool eyewear. Founded by Ali VanOverbeke, this company embodies the spirit of a circular economy and is proof that fashion can be impactful. Alis’ efforts and impact have already been featured in Elle, The New York Times Style Magazine, and Vogue, and she is just getting started. Clearly, being good is the new cool.
In 2016, while Ali was a volunteer for the American Red Cross, she witnessed the tremendous amounts of bottled water being distributed to Flint residents for drinking, cooking, and cleaning. “At the height of the water crisis, Flint was using more than 20 million water bottles daily,” Ali explained. She spoke to members of the Flint community and sought a way to provide for their greatest need: jobs. They knew that an NGO or charity would be only a partial solution, so they decided to start a business that would not only tackle the environmental concern of single-use plastics but also the economic concern of unemployment in the area. They established Genusee with the following goals: (1) reduce localized plastic waste (2) create living wage jobs (3) encourage circular economy and (4) give back to Flint.
“Advancing environmental sustainability can be effectively achieved with creative deployment of artistic expression: in this case, in the form of a lifestyle product. A positive and fun sustainability message can penetrate society easier than guilt. These glasses spread awareness that our consumer choices can be powerfully regenerative. The innovative manufacturing, supply chain, and local economy uplift behind the scenes are an extension of a simple and elegant sustainability solution,” Boryana Straubel shared.
Each pair of Genusee glasses is upcycled in Flint, Michigan from 15 single-use plastic water bottles. They are reducing waste by preventing mountains of plastic from entering landfills and they are creating jobs for the people of Flint by ensuring that production happens as close to the city as possible. To encourage a circular economy, Genusee offers a buy-back program that allows customers to send their old pair of glasses back for credit towards their next pair. The old pair is then used again as material in their circular supply chain. Once the plastic is first saved from the landfill, it should never have another chance to end up there.
The Straubel Foundation investment is a strategic way of making a difference by supporting ideas in under-invested areas of the U.S. that are uplifted by local business efforts. We are inspired by Genusee’s commitment to “tackling issues of social and environmental injustice by using collaboration as part of the solution”. With this investment, we have the following impact goals:
Upcycle at least 20,000 single-use plastic water bottles annually; continue independent water bottle collections to help divert single-use plastic from landfills
Employ low-income residents of Flint, Michigan
Continue to spread community environmental awareness and conservation efforts
Participate in and fund a yearly environmental awareness event with the goal of attracting economic development and fostering community pride
Collaborate with local and national water projects to help bring to the city of Flint safe drinking water that does not require single-use plastic
“I am excited to support Genusee as they contribute to what I believe is the next important and necessary step in the sustainability revolution: a circular economy. I look forward to helping spread awareness and tell their story,” JB Straubel said.
We are excited to be a part of the Genusee mission. Wearing cool sunglasses has never felt better.


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Rock singer Gwen Stefani is latest celebrity spokesperson for the L’Oreal’s Paris cosmetic line.
“I can’t believe I get to be one of the L’Oreal Paris girls,” Stefani said. “I love playing dress up, on stage or shooting videos, it’s always been one of my favourite parts of being in a band. And to get to work with such a modern, talented group of people is really exciting.”
Stefani will be following in the footsteps of other L’Oreal ladies such as Jennifer Lopez and Beyonce Knowles. She will represent the brand’s campaign for Superior Preference haircolor and a new line of long-wearing lipstick called Infallible Le Rouge.
The singer’s first television ad premiered on NBC during the Golden Globe awards on January 16.
Stefanie has previously launched frangrances and fashion lines L.A.M.B. and Harajuku Lovers. She also is returning to her music career. Her band No Doubt has officially begun recording a new album.

domain: news


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20th December 2019 - 3 min read
Khazanah Nasional Berhad has named Touch ‘n Go eWallet, Boost, and GrabPay as the e-wallet partners for the Federal Government’s e-Tunai Rakyat initiative.
The three e-wallet service providers were selected based on their number of active users, merchant networks, technical expertise and financial strength, as well as their significant investments within Malaysia. As the three leading e-wallet service providers in Malaysia, they collectively provide a ready platform for the initiative, which is slated to start from 15 January 2020.
The e-Tunai Rakyat programme promises a one-off RM30 digital stimulus to eligible Malaysians as a form of encouragement to make e-wallets and digital payments a part of their lifestyle. In particular, it targets consumers and merchants involved in small enterprises and retail businesses.
To qualify for the initiative, you will have to be Malaysian, aged 18 years and above, and earning less than RM100,000 annually. If you are, then you are eligible to receive RM30 that can be spent on goods and services available through participating e-wallet service providers of your choice.
In its press release, Touch ‘n Go has said that its participation in the initiative would enable Malaysians to seamlessly claim this benefit through the eWallet. They will also be able to claim and use the funds at any of the e-wallet’s 110,000 merchants, ranging from food and beverages to petrol stations, movies, flights, utilities, and groceries. Users can also make payments for mobile reloads, in-app purchases like street parking and toll payment via unique features such as PayDirect and RFID.
Boost has further said that they will add on to the RM30 stimulus with exciting offers across most of its 125,000 merchant partners during the 2-month e-Tunai Rakyat initiative, although these will likely be clarified at a later date.
Meanwhile, Grab expressed that it is honoured to have its e-wallet, GrabPay, selected to participate in the initiative.
“We welcome and fully support our government’s progressive move to accelerate the adoption of e-wallets and digital payments among Malaysians,” said Grab in a statement. It also added that its participation in the e-wallet initiative was a testament to its commitment to provide access to the seamless and frictionless convenience of digital payments to everyone in Malaysia.
The e-Tunai Rakyat initiative was announced under Budget 2020, and its overall implementation is overseen by by Khazanah. The effort also involves close collaboration with various parties, including the National Registration Department (NRD) and the Inland Revenue Board (IRD). It will run for two months, ending on 14 March 2020.
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Stay tuned for what’s to come next in the personal finance world


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Facebook may be a social networking site first and foremost, but the company also has a long history of enabling developers to create games that users can play on their own or with friends.
As a growing percentage of Facebook’s users are accessing the site on mobile devices, Facebook is taking a step that helps turn the social network into a mobile game platform.
Now you can play PAC-MAN, Space Invaders, EverWing, and other games in the Facebook or Facebook Messenger apps for Android or iOS. There’s no need to exit the app or download and install the games from the App Store or Google Play.
Facebook calls the new gaming-through-Messenger service “Instant Games,” and at launch there are 17 games available to play in 30 countries.
Titles include classic games like Galaga and Arkanoid, social games like Words with Friends: Frenzy, and some newer titles. The games are all rendered in HTML5 and work cross-platform.
Not surprisingly, there’s a social aspect to the games, even when you’re playing single-player titles. You can launch a game from the chat window in Messenger and your score will be posted to the conversation, letting your friends try to beat your high score.
There’s also a solo option for folks that don’t want to use Messenger (or let anyone know what games they’re playing. Games will also be available through the News Feed in the Facebook apps for Android or iOS.


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The Union Ministry has approved the Production Linked Incentive (PLI) Scheme on highly efficient Solar PV modules for achieving manufacturing capacity on a Giga Watt (GW) scale.
The government has approved the grant worth Rs 19,500 crore for domestic manufacturing.
This announcement of the PLI scheme is a boon to the solar manufacturing industry in India to form Giga factories with a clear focus on manufacturing High-Efficiency Solar PV Modules.
India has resolved not to compromise on its energy security, keeping in view the high strain on the overall global food & energy value chain because of climate change and very recent geo-political tension in Europe/USA & Russia/China. Upscaling the domestic capacity is quintessential for a resilient and self-sufficient INDIA.
In alignment with Prime Minister Narendra Modi's vision, it has been our priority and commitment to contribute towards building an Aatmanirbhar Bharat as far as the manufacturing of India's solar modules/cells is concerned.
All India solar industry association (AISIA) is committed to adding more and more solar manufacturing capacities on Indian soil to make our country an Aatmanirbhar Bharat.
The Central policies on imposing 40% BCD on imported modules /cells, PLI schemes, ALMM, and SPECS have laid a firm foundation for domestic manufacturers to scale up capacity addition.
The actual installed capacity, as on September 2022, stands at 30000 MWs (Almost 10,000 MWs capacity to be approved under ALMM).
In the next six months, another 10000 MWs of solar domestic modules manufacturing capacity would be in place, taking overall capacity to approximately 40000 MWs by March 31, 2023.
As per the available information and conducive government policies, there will be an addition of another 74,000 MWs by the PLI trench 1 and 1, which will take the total capacity to approximately 114000 MW.
The new PLI announced today will give a boost to higher capacity addition on the upstream side of the value chain, i.e., Poly silica ingots wafers, etc. This shall bring much-needed technology innovation into the realm of our very own energy value chain.
Overall, this will march our nation towards achieving the target of becoming a desired global manufacturing hub for high-efficiency solar panels.
Domestic solar manufacturers are operating in an environment where indigenous module production is rapidly increasing without much demand.
This brings good competition in prices and services to give better ROI to the end customers. Higher Manufacturing capacity over demand will continue in the coming years.
This was stated in a media release.
The Story Mug, a Guwahati-based blogzine, believes in telling stories that matter.


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- Oct 14, 2020
Ethical Hackers get Paid $2,88,500 For Discovering Security Flaws In Apple's Systems
Apple has paid a whopping $2,88,500 amount to ethical hackers to make its platform free from any security flaws. Apple hired these hackers responsible for assisting in the elimination of security flaws found in its core system.
The group of hackers included Sam Curry, Brett Buerhaus, Ben Sadeghipour, Samuel Erb, and Tanner Barnes, who hacked Apple’s systems between July 6 to October 6. Apple will pay the rewards to the group in instalments over the next few months.
The company seemed working diligently for the past three months to spot these flaws and included around 55 of them. The security flaws seemed potentially dangerous since they allowed hackers to attack the company’s core infrastructure.
America seems to be the most top-most affected country by cyberattacks. After America, India stands to be the second-most targeted country for cyberattacks around the globe.
Read more at in.mashable.com


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German consumer goods group Henkel, the maker of Persil detergent, said it expects profit margins to fall next year as its adhesives business comes under pressure from waning industrial demand.
The group said its adjusted earnings before interest and tax margin would decline to about 15% next year, down from an expected 16.2% in 2019 and below the 15.9% estimate according to Refinitiv data.
Last month, Henkel said its adhesives unit, which accounts for half of its sales, saw revenues fall 2.4% in the third quarter, hit by a slowdown in the car industry.
'Challenging Market Environment'
"We expect Henkel to continue to face a challenging market environment in fiscal 2020 that is difficult to predict, particularly with regard to industrial demand," outgoing CEO Hans Van Bylen said.
Frankfurt-listed shares in the group were down 6.5% after the news.
Henkel in October announced that chief financial officer Carsten Knobel would take over as CEO from Van Bylen in January after a string of poor results.
The group said it expects organic sales growth of 0-2% in 2020, while sales likely stagnated this year. Profits are expected to be hit next year by higher investments for marketing and advertising as well as for IT and digitalisation, it added.
Adjusted earnings per preferred share will fall by a mid to high single-digit percentage at constant exchange rates in 2020, down from an expected 5.45 euros in 2019, it added.
"Despite the further weakening of economic dynamics in the course of the year, our expectations for 2019 are overall in line with the expectations of the capital market as well as our guidance for fiscal 2019," Van Bylen said.
News by Reuters, edited by Checkout.


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Grupo Cortefiel | Jaume Miquel
Ahead of the World Retail Congress we preview the key trends likely to dominate the agenda and talk retail transformation in a special interview with Jaume Miquel, CEO of Grupo Cortefiel.
Featuring in-depth conversations with leading figures from the world of retail, this is The Retail Exchange’s informed interview series.
Hear from the finest minds and inspiring thinkers as they share insights into delivering success and get to the heart of the industry’s big issues.
In our latest special edition of The Interview ahead of the World Retail Congress 2018, business broadcaster Ben Bland talks to Grupo Cortefiel CEO, Jaume Miquel. He discusses the key trends he expects to dominate the agenda at the Congress and tells the story of retail transformation and international expansion taking place within the Grupo Cortefiel.
Enjoy | Ron Johnson
US host Dave Evans brings you a special interview with Ron Johnson. He is perhaps best known for his work creating and leading Apple Stores during their first 12 years, then later as CEO of JCPenney. Now CEO and Co-Founder of Enjoy, he’s changing the way companies serve their customers in a digitally-driven world through the first mobile retail store available on-demand.
The Special | Retail Wellbeing
In our final episode of ‘The Special’ series, we take an in-depth look at the human impact of the pandemic and the importance of wellbeing for retail employees in these unprecedented times.
The Special | Braking Point
In our latest episode of ‘The Special’ series, we bring listeners a special report from the US and Canada, as stores across both countries close their physical stores in response to the global pandemic.


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Facebook will command the majority of social media ad budgets for advertisers—they will dedicate almost half of all marketing budgets to Facebook, with 71% saying that spend will increase from last year, according to new research from agile marketing firm Kenshoo, in partnership with direct response agency OrionCKB, which have released a new report, 2016 Holiday Advertising Survey Report. The survey polled top e-commerce and retail advertisers on their ad spend plan to maximize revenue during the upcoming holiday season.
New ad types also present new opportunities for advertisers, providing increased ad engagement and interaction. “The holiday season is the most competitive time of year to try to stand out in social feeds, so for the 60% of advertisers whose primary goal is direct response, it could be a good strategy to diversify and test all different types of ads—especially video—to see what will get shoppers’ attention,” said Scott Briggs, co-CEO of OrionCKB, in a news release. “The true test will come if one type of ad will start to perform best; it’s important to keep some level of agility to capitalize on that and go ‘all in’ to really maximize spend during the Q4 sprint. The payout is almost always substantial.”
While Facebook will command a larger share of retailer’s social media ad spend, the two most important ad types for holiday marketing programs come from Google. More than 74% of those surveyed said that Search Keyword ads are very important to their holiday marketing programs, while 61% of respondents cited Product Listing Ads as important. Since search is intent-driven it will continue to play an important role in e-commerce and retail holiday programs.
Additionally, the survey shows the importance of omnichannel and omni-ad-type strategies. “Many sophisticated advertisers focus on customer acquisition strategies that go beyond retargeting,” said Will Martin-McGill, chief strategy officer at Kenshoo, in the release. “They use lookalikes and pull data from other channels to create new audiences in Facebook.”
Source: PR Newswire; edited by Richard Carufel


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The toughest regulatory constraints yet on tobacco have led to £300m being wiped off the market
Tobacco is facing its tightest squeeze in history. Caught in the tentacle-like grip of tough legislation, changing habits and the booming vaping industry, over £300m has disappeared from the cigarette category over the past year [Nielsen]. To look at the top 10 brands is to see - with a few notable exceptions - a litany of slow decline.
The companies clinging on to traditional tobacco are struggling to offer growth strategies other than generic statements about “creating quality experiences” and “offering the smoker real choice”. But others are betting big on innovation. Philip Morris launched its campaign for a smoke-free future to much fanfare last month with the assertion that, like many smokers at this time of year, it was also “trying to give up cigarettes” in favour of its heat-not-burn tobacco product Iqos. So is bold innovation the key to success in this challenging sector? And how else are suppliers responding to changes in the market?
For the main culprit behind the decline in tobacco sales, look no further than the legislation introduced last May. Alongside plain pack laws, the UK government stipulated that the minimum pack size for cigarettes should be raised to 20, and 30g for rolling tobacco. In one fell swoop, tobacco companies lost their last available way of communicating their brand to the consumer. And the larger pack sizes meant the minimum price was much higher.
In this new, more regulated era of tobacco, the power of packaging and marketing has largely disappeared. Larger pack sizes have made cheap entry-level tobacco packs a thing of the past. And so consumers are focusing on one thing only: price.
A glance at the top 10 brands shows just how consumers are moving away from traditional big names towards less pricey options.Seven of the 10 are in value decline. Although this has been a long-term trend, the new legislation has made percentage falls among pricier options even more eye-watering than before. Take JTI’s traditionally big-hitting portfolio, for example. Its market-leading brand Sterling was down £93.5m on last year (a fall of 6.2%) and its more expensive number three brand Mayfair was down a whopping £177.4m in value (-17%). Volumes of these big names were down an even more staggering 20.2% and 29.8% respectively (fuelled partially by larger pack sizes). It’s a trend that JTI can’t help but acknowledge. “Price is a key factor for existing adult smokers when choosing where to shop for tobacco,” says Mark Yexley, head of communications at JTI, although he is at pains to point out Sterling “remains the UK’s number one cigarette brand and an important part of JTI’s portfolio”.
So the only brands in the top 10 that are posting growth - Player’s, B&H Blue and Rothmans - are on the cheaper side of the market. Imperial brand Player’s is a particular success story. Last year, it was ranked the sixth largest cigarette brand. This year it is second - up £399.8m or 55.6% - to be worth over £1.1bn.
JTI’s B&H Blue has gone from number 13 brand last year to number six this year, having secured an extra £164.9m in sales.
And Rothmans secured 6.6% value growth to £541.2m. This perhaps explains why owner British American Tobacco insists it has “not seen a noticeable impact on the long-term consumption trends of tobacco since the introduction of plain packaging”.
“Price is a key factor for existing adult smokers when choosing where to shop for tobacco”
But not all tobacco firms are so upbeat about the legislation. JTI, for example, has not just been hit with falling sales, but worries the plain packaging laws will provide an opening for illicit trade. A report published by the Tobacco Manufacturers’ Association noted that illicit tobacco cost the UK £2.4bn in 2015-16 of - and it fears this figure could rise.
“The sale of illicit tobacco accounts for nearly 13% of the ready-made market and 32% of RYO tobacco in the UK,” says JTI’s Yexley. “There are continued concerns that these figures may worsen since packs have become easier to duplicate with the introduction of plain packaging. In addition, the legal requirement to only produce larger pack sizes can lead to consumers looking for cheaper alternatives on the black market.”
Overall, it’s a pretty bleak picture for cigarettes. But elsewhere in tobacco, there are more positive developments. Consumer appetite for cheaper options has boosted the roll-your-own market to the tune of £212m. Gold Leaf is responsible for nearly 40% of this figure alone, having accrued an extra £82.1m over the past year. And the rise in rolling tobacco is creating a wider market in accessories. According to IRI, accessories are now worth £256.4m, with filters alone providing £76.3m of that figure.
Republic Technologies, the parent company behind the Swan brand, is using innovation to capitalise on these new consumers. “NPD and increased focus on merchandising is driving growth in the category,” says general sales manager Gavin Anderson. Republic has released four new products designed for the RYO market: an ‘ultra slim’ filter, a biodegradable filter, a pack with 32 slim papers and filters, and a cigarette tube targeted at cost-conscious consumers looking for an alternative to factory-made cigarettes.
There is also some positivity in the cigar market. Scandinavian Tobacco Group, which makes cigars, pipe and fine-cut tobacco, has reported a 2.6% increase in sales in the nine months to 30 September 2017. Even in this market, though, consumers are looking for “value for money” rather than the most premium option. Jens Christiansen, head of marketing and public affairs at STG, believes its affordable Moments Blue brand could steal some shoppers away from “higher priced cigarettes”.
Essentially, it’s all about the cheaper end of the market. So where does the opportunity for the mid-market tobacco brands lie? For many, it is in diversification away from cigarettes. Big tobacco has taken note of the growth of the vaping market, which is predicted to exceed £2bn by 2020. Imperial Tobacco has acquired vaping brand Blu from RJ Reynolds, and British American Tobacco is behind Vype.
In the case of Philip Morris, it has developed what it sees as a cross between vaping and traditional tobacco: the heat-not-burn device Iqos. Claiming to be less harmful than cigarettes yet offering a more realistic ‘smoking’ experience than vaping, more than 3.7 million people have switched to Iqos since its launch last year, according to its official site. The lion’s share of this market is likely to be in Japan, where vaping is illegal (analysts have suggested Iqos could account for 25% of Japan’s $36bn tobacco market by 2020).
The product is also gradually gaining ground in the UK. Sainsbury’s became the first major mult to stock the refills in December, taking their availability beyond the Iqos website and three dedicated Iqos stores in London. Now other companies are placing their bets on heat-not-burn technology. BAT has launched its product Glo into the Japanese, Russian, Canadian, Swiss and South Korean markets. JTI has invested in its own Ploom Tech and says sales in Japan have outstripped demand.
However, the ability of Glo, Iqos or Ploom to succeed in the UK market, where vaping is legal, remains unclear. Add to this a report from the US Food and Drug Administration two weeks ago arguing that these devices should not be able to claim a reduced risk of tobacco-related diseases, and the future looks shaky. (Vaping, on the hand, was deemed less harmful than smoking in the largest ever US study, published two weeks ago.)
Fending off the challenge of vaping, evaluating heat-not-burn devices, navigating in the new legislative landscape and fending off illicit trade: big tobacco certainly has its work cut out for the year ahead.
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Jackie Baillie, MSP for Dumbarton, is backing calls for shoppers to back businesses close to home this Christmas as research reveals the economic impact of thinking local first.
Research by the Scotland Loves Local campaign has found that businesses in West Dunbartonshire say that 58% of their expenditure stays in their local economy. Similarly, businesses in Argyll and Bute found that 62.5% of their expenditure stays in the local economy.
It’s a statistic that highlights the great financial power everyone can help unlock for their community during a festive shopping season where the need for local support has never been greater.
Scotland Loves Local is the drive for people across the country to support the nation’s economic recovery from the Covid-19 pandemic by getting behind businesses on their doorstep, whether in person or online.
Jackie Baillie MSP said:
“The fact that businesses in West Dunbartonshire and Argyll and Bute estimate that over half of their expenditure stays in our local economy is proof it’s vital for our communities for us all to think local first before looking further afield.
“We’ve all gained a greater appreciation for the people and businesses around us during the pandemic.
“Our local shops and services have been there for us like never before during 2020. Christmas is always a critical time of year for local businesses, but in the final shopping push this festive season, we need to be there for them more than ever. It’s time to be a hero for our high street heroes. We will all benefit from showing them our support.
“And please show your support safely. Always follow the FACTS guidance and show patience, kindness and consideration to your fellow shoppers, shop staff, cafe workers and anyone else you meet.”
An average of three-quarters (73%) of expenditure from local businesses across Scotland is reinvested in the local economy, Scotland Loves Local found in a survey of businesses nationally.
The campaign is spearheaded by Scotland’s Towns Partnership (STP) with the support of the Scottish Government.
STP Chief Officer Phil Prentice said:
“There are tremendous shops across the region which need – and deserve – local support now more than ever as they continue trading despite the challenges caused by coronavirus.
“Whether it’s in-store or online, the innovation that local businesses have shown to support their communities and customers during 2020 has been tremendous. They’ve shown remarkable innovation, launching new products, services and packages while creating safe trading environments.
“We’ve also seen an explosion in the number of local stores, suppliers and attractions operating online, meaning the ways in which we can support the shops from our local high street have never been greater.
“The best gift that we can give local businesses this Christmas is our support. Money spent locally stays local for longer.”
Across Scotland, two-thirds (67%) of people questioned in a poll commissioned by Scotland Loves Local said they intend doing some Christmas shopping in stores on their local high street, where possible, while 68% of those questioned will buy from local high street shops online where they can.
For more information about getting involved with the Scotland Loves Local campaign, go to www.lovelocal.scot or follow #ScotlandLovesLocal on social media.


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BRITAIN'S maritime industries will become "more important than ever" in the period following Brexit, UK Secretary of State for International Trade Liam Fox has told Lloyd's List.
The international trade secretary stressed that shipping is crucial to his department's efforts to boost UK exports, opening up what he sees as the enhanced trading opportunities offered by departure from the European Union in 2019.
The post-EU game plan will see maritime employers encouraged to double the number of apprenticeships on offer, and there will be a renaissance in British shipbuilding under the National Shipbuilding Strategy, he pledged.
He also reassured ports that the government is committed to making trade as frictionless as possible, after several industry chiefs hit out at the potential for waterfront congestion once the UK comes out of the EU customs union.
Mr Fox - twice an unsuccessful contender for the leadership of the Conservative Party - gave Lloyd's List an exclusive email Q&A interview prior to his speech at the Tory conference in Manchester this week, in which he made clear that he was optimistic about Britain's prospects after EU withdrawal.
Can UK logistics avoid a looming crunch? Join Lloyd's List in Liverpool next week and find out for yourself
In this 'Oxford-style' debate two ‘teams’ who will argue the motion “Can the shipping industry alone save the UK logistics crisis?”
Critics, both inside and outside his own party, have instead pointed to the slow progress made in Brexit talks, with agreement with Brussels on divorce settlement basics required before talks on third country trade deals can even commence.
Mr Fox described the UK as a great place for maritime businesses, thanks to its attractive tonnage tax offering, low corporation tax rates, and the general ease of doing business here.
The maritime sector contributes £22bn ($29.2bn) a year to the economy and employs 360,000 people, he said.
But more must be done, and the government will build on the recommendations contained in the 2015 Maritime Growth Study, Mr Fox went on.
The document's 19 recommendations include commitments to double the size of the UK flag, increase commercial focus at the Maritime and Coastguard Agency, help market the British maritime sector abroad, and improve seafarer training.
"There is vast potential to unlock increased trade with the world post-Brexit, but we must do it by being technologically advanced and innovative. So this sector will become more important than ever," said Mr Fox.
"The sector has already made great strides and just as it was the driver of Britain's prosperity in the past, so it will be in the future as we move forward as an independent nation."
Mr Fox has previously spoken of a "post-geography trading world". Asked to unpack the concept, he pointed to the way in which communications technologies have done much to eliminate barriers of time and geography.
Shipping takes credit for making it economically viable to transport materials and components across the world, thus expediting the development of the global economy.
"These value chains have had a very real impact on the lives of ordinary people across the world.
"In this country, living standards have climbed to their highest level in history, as more goods become available at better prices, and wages go further."
Moreover, economic liberalisation in China and India could not have produced an economic boom without the ability to access global markets by sea.
In this way, shipping has contributed to a "great emancipation of the world's poor", which could not have taken place without it.
Nor is Mr Fox disheartened by recent unfavourable economic data, including a widening trade deficit with countries outside the EU, and the failure of British exporters to gain as much market share as some economic models predict in the wake of sterling depreciation.
"The fundamentals of our economy remain strong. Our exports are increasing and we're attracting more foreign direct investment projects than ever before," he insisted.
"Our science and research excellence, system of commercial law, low tax/low regulation economy continue to be a major draw for international investors."
DRYSHIPS founder and chief executive George Economou will lift his stake in the Nasdaq-listed company to almost 70% after backstopping a $100m rights issue that other stockholders steered clear of.
The offering, which expired after market closing in New York on Tuesday, raised less than $1m from outside investors, triggering an investment of $99.2m from Sierra Investments, one of Mr Economou's private vehicles.
Mr Economou and affiliates had agreed not to exercise any rights to shares in the rights offering, other than through the backstop commitment.
DryShips has said that proceeds may be used for vessel acquisitions or repaying amounts under its credit facility with Sierra.
Following the offering, the amount outstanding under the unsecured Sierra facility is calculated to be about $73.8m and this is expected to be refinanced with a new secured loan from Sierra, the company said.
Sierra's new investment in DryShips brings the total number of common shares controlled by Mr Economou to almost 104.3m, or 69.5% of the company.
The Greek shipowner has turned around the company in bewildering fashion over the last 12 months, expanding and diversifying the fleet to 22 bulkers, four tankers and four very large gas carriers.
THE pace of scrapping crude carriers has picked up in recent months as stronger demolition rates, coupled with weak spot earnings and asset prices, are giving owners more incentives to recycle their old tonnage.
A total of 5.9m dwt of crude carriers went to scrapyards in the first nine months of this year, compared with 1.4m dwt in the whole of 2016 and 1.3m dwt in 2015.
The increase closed the gap between secondhand prices and scrap values of tankers aged 15 years or above, which, coupled with spot earnings dipping below operating costs for some time in the third quarter, triggered the latest round of tanker demolition, an industry official said.
"This increase in scrapping was mainly on account of a sharp decline in freight rates during the third quarter," Drewry's lead tanker analyst Rajesh Verma told Lloyd's List.
"As the market is oversupplied, older vessels are finding it difficult to get employment."
While industry officials generally agree the scrapping volume could have been higher if the International Maritime Organization had not announced a two-year grace period for the ballast water management convention, the dim market outlooks have provided more incentives for ship demolition.
CAMBODIA has denied links with a North Korean bulk carrier that was seized off Egypt last year for carrying a substantial cache of weapons. Cambodia's ministry of foreign affairs issued a statement on Tuesday saying that the use of the Cambodian flag of convenience by any ship, including the Jie Shun, was illegal.
The Cambodian government had decided to close down the registration of vessels under the nation's flag since August 17, 2015, although it still allowed ships with valid registry certificate under the Cambodia flag to operate until the expiration date at end-August, 2016, said the ministry. "Any ships claimed to be under the Cambodian flag after this due date are considered illegal and subjected to applicable international laws and regulations," it added.
A recent investigation by Lloyd's List tracked a fleet of roughly 20 small product tankers that were moving fuel cargoes sourced from Chinese refineries and Russian oil terminals, and supplied to the North Korean port of Nampo.
The vessels are several decades old with a dubious trading history, mostly flagged in North Korea, but also include several Russian product tankers. So far this year, the number of product tanker shipments that can be followed by vessel tracking systems appear to have dropped significantly.
SUEZMAX tanker rates posted a healthy increase in the past week on stronger chartering activity across regions including West Africa, the Middle East and Europe, and demand is likely to hold up for the rest of October. While recent strength in very large crude carrier markets supported demand for the cheaper, smaller suezmaxes, strong loading volumes helped spot earnings rise as much as $14,000 per day in West Africa, nearly 40% more than a week earlier, brokers said.
Full market report
THERE is increasing evidence of improved petroleum product market fundamentals, signalling beneficial changes for product tankers, despite vessel supply overhang. "The entire global oil complex is ripping, led by products," Bank of America Merrill Lynch said in its latest energy report. It said strong product trades were leading the charge, with most product markets in backwardation as inventories had fallen progressively. Hurricane Harvey had only exacerbated a tightness in product markets that was visible in prior months.
Full market report
ABSENCE for Golden Week in China and autumn holidays in other parts of Asia were to blame for the slide in panamax bulker earnings over the week, with lower activity reported in both basins. But signs of improvement are nigh as rates edged up on the day. The average weighted time charter on the Baltic Exchange fell 9% to $10,253 per day at the close on Wednesday. That is an improvement from $10,022 per day on Tuesday, the lowest level in a month. The index dropped 130 points to 1,276 points.
Full market report
THE UK logistics sector is facing a tough year ahead with business conditions deteriorating amid greater competition and fears of a so-called hard Brexit.
Ninety per cent of the goods coming into and out of the country arrive by southern ports, which are congested and slow.
Shippers compete to secure cheap, but limited, rail freight space to carry container cargoes from southern ports to northern depots, before redistributing to a warehouse for local delivery.
Cargoes that miss out on rail freight must be trucked across the country, adding to overall cost of delivery, road congestion and environmental pollution.
The delicate balance of just-in-time supply chains could be upset should Brexit negotiations introduce delays and extra costs from routine customs checks at ports as part of any transitional customs arrangement.
The UK Chamber of Shipping has led a campaign to prevent 'operation stack' on the UK's roads and to keep goods flowing post-Brexit. With an overhaul of ports technology needed, alongside infrastructure upgrades to road and rail, there are clear challenges ahead.
Any restrictions on employment from the European Union and free movement of people will also increase pressure on an under-resourced trucking industry, with British road hauliers already facing a lack of skilled drivers and staff.
Meanwhile, businesses along the supply chain are being squeezed. UK ports have to compete on cost domestically and with large European hubs such as Rotterdam and Hamburg, which can undercut UK operations through cheap port fees and regular daily feeder services.
UK logistics firms expect to continue to be squeezed on pricing, with simply too much capacity chasing too little freight, according to the UK Logistics Confidence Index, published by a Barclays Bank and accountants Moore Stephens.
And there is a ticking time bomb when it comes to available storage. The supply of warehousing in the UK has fallen by 72% since 2009, the report found.
Can the shipping industry help solve these pressing issues? Our Tuesday October 10 panel debate in Liverpool will consider what can, and should be done to benefit shippers, freight forwarders and ocean carriers alike. Register here.
ROLLS-ROYCE has inked an agreement with Google to improve the ability of autonomous vessels to identify objects encountered at sea. Google's Cloud Machine Learning Engine will be applied existing software being developed to detect, track and identify objects encountered at sea by vessels. In addition to machine learning research the two partners will be exploring speech recognition solutions for human-machine interfaces in marine applications.
COUNTRIES in Africa planning to develop ports should consider their position on the Maritime Silk Road before investing in what could become expensive white elephants. Speaking at the International Cargo Handling Co-ordination Association conference in Las Palmas, Louvain School of Management professor Manuel Herrera warned that China's One Belt, One Road initiative would play a critical role in port planning in coming years.
"One Belt, One Road is not just a transport initiative but is also about economic development with Chinese investment," Prof Herrera said. "These soft elements need to be improved first."
THE Maritime and Port Authority of Singapore has been granted more regulatory oversight as the government seeks to ramp up the protection of strategic interests in the island nation. The new powers mean the port authority will now be able to approve or reject transactions that could lead to a change of substantial shareholder in port-related entities, namely PSA International and PSA Corporation. The MPA will leave day-do-day operations of these entities to their own management teams.
WITH an estimated 10% of containerised shipments comprising dangerous goods, in theory some boxships can have in excess of 1,000 containers carrying dangerous goods on any given voyage. Hazcheck Restrictions, a portal developed by Exis Technologies, allows participating lines to upload and maintain the operator, vessel and port restrictions for their operations, check for DG compliance with partner lines and accept provisional bookings.
The portal started as an initiative with several major container lines that already used Exis Technologies' range of Hazcheck compliance systems for their DG shipping operations, particularly to resolve issues posed under vessel sharing agreements.
SINGAPORE-listed Sembcorp Marine has announced its PPL Shipyard unit has terminated three jack-up rig contracts with Integradora de Servicios Petroleros Oro Negro and its subsidiary Oro Negro Vastus.
It said the rigs had been "technically accepted" by the buyer, although delivery had been deferred. PPL Shipyard chose to cancel the contracts as per the conditions set down in the deferment agreements it had signed with Oro Negro.
GENTING Hong Kong will delist its shares from the Singapore exchange as it focuses resources on its core cruiseship operating businesses, particularly on the Chinese market in North Asia. The group says it is looking to keep its primary listing in Hong Kong and grow its profile to North Asian investors.


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The warehouse-type older tract homes in SE Carlsbad are sitting patiently, hoping that the spring selling season might bring some love their way. The list would be longer if those who failed to sell last year would have trudged on, instead of renting:
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024
- (858) 997-3801 call or text
CA DRE #01527365, CA DRE #00873197
Plans are taking shape for 10,000 units of new housing in the heavily industrial area - Is San Diego building an Amazon company town from scratch? https://www.sandiegouniontribune.com/news/environment/story/2021-09-25/san-diego-amazon-company-town
New post (Bay Area Buyers) has been published on http://bubbleinfo.com - https://www.bubbleinfo.com/2021/09/25/bay-area-buyers/
New post (Carlsbad Low-Income Housing Sites) has been published on http://bubbleinfo.com - https://www.bubbleinfo.com/2021/09/25/carlsbad-low-income-housing-sites/


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It’s the role of an authoritative daily newspaper, such as The Australian, to report and analyse breaking news. But it is the role of a magazine, such as the deal, to dig deeper, to highlight underlying issues in business and the economy, and to find the people doing the most interesting deals and shaping the future of their sector. In this issue, we visit a loft in an industrial suburb of inner Sydney, where a group of people is working at the cutting edge of retailing. While we read daily about the problems of conventional retailing and department stores, the teamat Arden Point, Temple& Webster and Parcel Point, whose offices are above a car-repair business, represents an ecosystem of investors, entrepreneurs and innovative retailers. Business reporter Lisa Macnamara, who last month profiled outgoing eBay Australia chief executive Deborah Sharkey, tells their story. See page 8. Australia’s ties with China are becoming deeper and more complex, while Chinese companies are now much more sophisticated in the way they approach foreign investment deals. Investment banker Andrew Low spent six years in Hong Kong heading up Macquarie Capital’s Asian business before going out on his own with an Australian-based corporate advisory business. He was a key figure advising a Chinese company on a highly unusual takeover finalised earlier this year. It involved players in North America, China and Australia and focused on a lithium mine in the south west corner of Western Australia. The Greenbushes mine is a critical supplier to a Chinese company that makes batteries for mobile phones and electric cars. See page 12.
Going to a musical can be fun, but making money out of them is a risky business. Arts writer Michaela Boland looks behind the
spectacle of King Kong and Priscilla, Queen
of the Desert to find a group of nervous entrepreneurs and investors, for whom every new project is a huge gamble. It is a tough business, but sometimes, just sometimes, they get lucky. See page 20.


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Apple Blossom celebration kicks off April 27The Washington State Apple Blossom Festival in Wenatchee has drawn visitors from throughout the Northwest for many, many years and it just keeps getting better every year. The festival gets under way on April 27 and runs through May 7.
Springtime in Wenatchee is really quite special. The apple blossoms are out, the skies are generally blue and the temperatures are inching up to the 60s and 70s.And, when the Apple Blossom Festival arrives, the people in this part of the state are just ready for a big celebration.
The highlight, of course, is the big grand parade this year held on May 6, but there's a lot going on in the 11 days of the festival. There are events every day, including some great musical concerts on the festival's outdoor stage.
The festival actually was started back in 1920 when the Ladies Musical Club produced the first event, which at that time was just one day. The event was a hit -- it drew large delegations of business and community leaders from throughout Seattle, Spokane, and North Central Washington. The next year they added the parade.
This was the first Apple Blossom Festival in the entire country, and it's the oldest major festival in Washington state. Today it draws thousands of visitors from around the world.
Apple Blossom has America's seventh largest carnival, Funtastic Shows, with about 25 rides and games for all age groups. If you enjoy golf, Apple Blossom Festival includes one of the best tournaments in the Northwest. And everyone it seems gravitates to Memorial Park where there are more than 20 food booths featuring such tasty items ad funnel cakes, crepes, elephant ears, ethnic cuisine and much more.
The concert stage is close to the food booths and features live music and entertainment throughout the duration of the festival.
The Grand Parade starts at 11 a.m. Saturday, May 6. Bands from throughout the Northwest join with many colorful floats and proud-stepping equestrian units to make this one of Washington's grandest parades. It's so popular, in fact that the crowd generally is over 100,000 spectators.
And don't forget the Arts and Crafts Fair that is held for three days the first weekend in May. The fair attracts over 140 vendors and 100,000 spectators. All items are handcrafted.
For more information on the festival, go to www.appleblossom.org or phone 509-662-3616.
RECOMMENDED LODGING: North Central Washington lodging
Click here for more great Northwest travel ideas!
Click here for great deals on California travel


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GUWAHATI, April 10: KFC India hosted the biggest virtual burger party of India recently. KFC’s Big Burger Bash brought together popular social media stars, food communities, bloggers and consumers from across the country which also saw the participation of Bollywood star Anil Kapoor. Kapoor shared his love for KFC burgers and posed for pictures with other participants at the Bash.
Sharing his experience of being a part of the Burger Bash, Moksh Chopra, Chief Marketing Officer, KFC India said, “KFC’s Value Burgers have been garnering much love amongst consumers since their launch earlier this year. In fact, Anil Kapoor’s epic dialogue from the campaign film has created much buzz on social and online mediums. We felt what better way to celebrate the love for KFC burgers than, by hosting the Big Burger Bash – a virtual party with a difference. We invited our KFC fans to come together and celebrate their shared love for burgers; while digging into some delectable burgers on the side. Having the legendary Anil Kapoor be a part of the Bash meant it wasn’t just the biggest bash of the year, but the most exciting too!”


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It’s amazing what happens when you get a group of ambitious women who share the same passion for food in one room for a special reason, to simply support and learn from one another. That’s just what happened at the Third Annual Cherry Bombe Jubilee opens in a new tab in New York City, perhaps the hottest one-day event ticket in town. The event sold out in a matter of minutes when it went on sale earlier this year.
As explained on their website, Cherry Bombe opens in a new tab is a biannual publication celebrating women and food — those who grow it, make it, serve it, style it, enjoy it and everything in between. Knowing that, it made so much sense for Whole Foods Market to be involved.
As a sponsor, Whole Foods Market was excited to be a big part of the success of this year’s event. Our Northeast Regional President, Christina Minardi opens in a new tab spoke on an incredibly inspiring “How to be the Boss” panel with Jodi Berg (President and CEO of Vitamix opens in a new tab), Amanda Hesser (Co-Founder & CEO of Food52 opens in a new tab), Katrina Markoff (Founder of Vosges Haut-Chocolat opens in a new tab), and was moderated by the spirited Ellen Bennett (Founder of Hedley & Bennett opens in a new tab and the #apronsquad) who had all 350+ attendees on their feet and dancing to Beyonce — literally! One of the things Christina said, “Set high expectations, but lead with love and compassion,” really stuck with both me and the audience.
In the “So You Want to be a Farmer?” panel, the audience loved listening to the ambitious group of female farmers who spoke on equitable pay, diversity, and training for the next generation of farmers. One of the panelists, Molly Culver, a farm manager at The Youth Farm opens in a new tab in Brooklyn said that people are attracted to farming because they feel like something is broken. As the Northeast Region’s Local Forager at Whole Foods Market, much of my role involves working with local farmers, and I love that I can see the impact that farmers can have on the local economy. This panel spoke to a tough reality but was hopeful toward future change.
I also have to give serious props to a number of local vendors I work with who donated their time and delicious food to a seriously yummy snack break I helped curate:
Anita’s Yogurt — A vegan yogurt made with organic coconut milk, organic coconut water and live cultures
Four & Twenty Blackbirds — A cozy bakery and café in Brooklyn that serves a seasonally changing menu of handmade pies
Hot Bread Kitchen — Offers multi-ethnic breads made with local and organic ingredients, inspired by their bakers and the countries they come from
Ovenly — An award-winning, women-owned bakery based out of Greenpoint, Brooklyn featuring innovative sweet-savory flavor combinations throughout their offerings
Salvatore Bklyn — Handmade artisanal ricotta made daily in Brooklyn
The pure delight on people’s faces and Instagrammable moments opens in a new tab that stemmed from these bites speak for themselves.
All in all, it was an amazing day that I won’t soon forget! In the words of Martha Stewart, the remarkable keynote speaker who I was lucky enough to introduce to the audience, along with Cherry Bombe co-founder Kerry Diamond: “It’s hard to have it all, but it’s important to have as much of it as you can.”


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The ‘Gear Up & Go’ promotion is truly a thank-you to our loyal customers, we’re preparing both experienced and new shooters with a reliable firearm.
The package includes Springfield Armory’s own 1911 EMP 9mm handgun. To participate in the promotion, just visit DUEL.Springfield-Armory.com/Vote and vote on this week’s head-to-head matchup.
88 Tactical, a Nebraska based training organization, is proud to announce the addition of Mr. Will Petty to the ranks of its nationally recognized instructor cadre.
Matt Reintjes comes to YETI from Vista Outdoor Inc., where he most recently ran that company’s $900 million Outdoor Products division…
LaserLyte , is a family-owned and operated business developing micro-laser technologies for the firearms and archery industries.,,
High Precision Bergara barrel built into a custom chassis and stock for serious professionals and top choice for several S.W.A.T. teams now available
Wes Doss, founder of Khyber Interactive Associates, is now traveling to the Maynard Police Department in Massachusetts for Stop 13 of the 2015 Lights, Sights, Lasers US Tour.
The inaugural Benelli USA Invitational Shoot Sports Clays Fundraiser will be held Fri., Sept. 11, at Pintail Point in Queenstown, Md.
Mayor Caldwell of Honolulu made the decision to destroy half a million dollars of Smith & Wesson pistols, rather than sell them to police.
Big Sky Outdoor News & Adventure Inc is pleased the announce that the September 2015 issue of the Montana Hunting & Fishing News is available online free for readers of AmmoLand Shooting Sports…..
Made in the USA continues to be a source of pride in many regions of America, and Crimson Trace continues its long two decades-plus tradition of offering products that are proudly made in the…..
Otis Technology is proud to support its local Public Television station, WPBS-DT, in bringing country music entertainer Darryl Worley to town for a 9/11 Tribute Concert Series…
U.S. Secretary of the Interior Sally Jewell and U.S. Agriculture Secretary Tom Vilsack today announced the appointments of 18 members to the Wildlife and Hunting Heritage Conservation Council…..
The U.S. International Shooting Hall of Fame will induct two new members during a December ceremony as four-time Olympian Glenn Dubis and Admiral Willis A. Lee were selected among an all-star…..
Reflecting on the ten years since the Hurricane Katrina gun grab, a lawsuit first, a month of giveaways, and more, this week on Tom Gresham’s GUNTALK Radio, the original nationally-syndicated…..
A 93-acre land transaction brokered by the Rocky Mountain Elk Foundation opens the door to approximately 6,000 acres of previously difficult-to-reach public land just in time for Montana’s big…..
GOP presidential hopeful Donald Trump addressed the heinous shooting in Virginia by saying it illustrated “a mental problem” not “a gun problem”…
The first week of DUEL 3 has officially kicked off, and you’ve got a lot to look forward to when it comes to prize packages and Springfield Armory firearms that could very well be yours very soon.
The way to truly Fix NICS is to scrap the system and redirect the funds toward fixing mental health treatment, fixing the justice system, and supporting law enforcement…
Kawasaki Motors Corp., U.S.A. is pleased to announce that, John Rathyen has been promoted to Regional Sales Director – East Region…
The company can now offer in-line serialization of polymer firearm components during the manufacturing process…
Secrets of the Deer Guides: Seventy whitetail experts reveal secret tactics, great gear, the truth behind gimmicks and more. Plus, three of the country’s best and most outspoken pros share bold…..
And, speaking of gators, be sure to stop by the Alabama Black Belt Adventures Association booth at the Rick & Bubba Outdoor Expo at the Birmingham-Jefferson Convention Center Aug. 28-30.
Colt, the iconic Connecticut firearms manufacturer announces its renewed effort to engage top-performing talent in many key areas of the business…
Kishel’s Quality Scents & Lures, offering a complete line of field-proven deer attractant and scent elimination products, has announced its sponsorship of Licensed To Kill Outdoors TV.
So typical of the gun controllers like Governor McAuliffe , to dance in the blood of the innocent victims for their own agenda…
Several Texas cities, including San Antonio and Corpus Christi, will see their restrictive knife laws voided as of September 1st when Texas House Bill 905 — Knife Rights’ signature Knife Law…..
Springfield XD, M1A Rifle Armorers Courses and Springfield XD Disassembly and Reassembly DVD among Hundreds of Prizes in September Giveaway.
Today, Outdoor Industry Association (OIA) will begin accepting applications for the Future Leadership Academy, a nine-month program dedicated to preparing and uniting the future leadership of the…..
Knife dealer Joshua Burbank had the courage of his convictions, defending his right to possess & sell legal knives in Massachusetts.
Confirmation that Flanagan passed a background check means he joins numerous other attackers who have passed background checks for their guns…
TPG and TPG BLACK new NTOA Member Tested products to be shown at
Booths 1117 and 1217 in Salt Lake City, Utah, Aug. 30 – Sept. 4, 2015.
The gun dealers argue that California Penal Code prevents them from displaying any placard advertising that they sell handguns…
BLACKHAWK! an industry leader in tactical gear, is looking to the future and deepening its commitment to its roots, which begins with a redesigned logo.
The third year of the Browning High Grade Program is here and elegance and function are on display in two new Citori 725 Sporting 12 gauge over and under shotguns…
In this series, sponsored by Remington Outdoor Company, Coni Brooks describes one of her first hunts with a female novice hunter, and lists why she loves hunting.
In another indication of firearms ownership going mainstream, Forbes magazine recently covered the deal-finding app, GunDealio, and the company responsible – GUNTALK Media.
Most all hunters love hard-hitting hunting videos. Ridge Road Outdoors allows you to access them anywhere, any time, for free—using your mobile device and help from industry-leading digital…..
MidwayUSA is excited to announce the release of “Larry Potterfield Autobiography – Chapter 1″ a short story by Larry Potterfield, Founder and CEO of MidwayUSA.
“The competition was stiff, but luckily my amazing Eagle Imports SPS Pantera ran flawlessly and I was able to finish second,” commented Miller.


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Nokia Touts EDGE Progress
Apr 3, 2003, 11:00 AM by (staff)
Total Access Communication (DTAC) and Nokia today announced the successful completion of the first EDGE call in Thailand. The call is part of DTAC's EDGE trial using commercial equipment from Nokia. This spring, Nokia will have fourteen EDGE trials in all continents. Nokia has announced two EDGE terminals already - the 6200 for the Americas and the 6220 for Eurasia. EDGE will be available in all new Nokia GSM/GPRS terminals by the end of 2004.
Feb 25, 2018
All four major carriers in the U.S. plan to sell the Samsung Galaxy S9 and S9+ beginning in March.
Sep 10, 2018
Verizon Wireless continues to make progress in developing its future 5G network. The latest milestone saw Verizon and partners Ericsson and Qualcomm create a 5G NR call using commercial equipment and a smartphone-sized test device.
Aug 30, 2017
AT&T today said it plans to test its fixed 5G wireless technology with consumers and businesses in a handful of new markets. It kicked off 5G trials earlier this year in Austin and will expand to Waco, Texas; Kalamazoo, Mich.; and South Bend, Ind.
Aug 21, 2018
Samsung Pay has launched mobile payments in South Africa, bringing the total number of markets served to 24 across six continents. Samsung has partnered with some 2,000 banking and financial institutions to serve as many people as possible.
Mar 26, 2018
FCC Chairman Ajit Pai wants to prevent the government and companies from using the Universal Service Fund to buy equipment from companies that represent a security threat to the U.S. "Threats to national security posed by certain communications equipment providers are a matter of bipartisan concern.


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Two Worlds: The Temptation - Upgraded from Expansion to Sequel
Written Friday, March 21, 2008 By Alan PettitView author's profile
According to a new press release from Reality Pump, what we thought was an upcoming expanstion (a la Shivering Isles for Oblivion), Two Worlds: The Temptation will actually be a full-fledged sequel.
The release stated some of the following:
- "visuals that have to be seen to be believed"
- "more intricate missions"
- "better voice-overs and animation"
- "improved horseback riding"
- "completely revamped combat"


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By Spy Uganda
Reproductive health experts have warned women using Vaginal Washes and Fresheners that they risk contracting various type cancer in their genitalia.
Medics led by Dr, Rosette Namulindwa conducted research recently which revealed that a big percentage of women who use vaginal washes like Klenva Liquid, V Wash and others face higher risks of contracting cancer than those who don’t use them.
Researchers identified some of the commonest Vaginal washes on the market which include Klenva Liquid, V Wash Plus, Betadine, Naturacentail feminine, which cost between Shillings 5,000 to 380,000. Many of them are advertised as a solution to irritation and bad odors in the female genitalia and can be bought off shelves in supermarkets, beauty parlous or supermarkets.
However, medics warn that the use of these genital washes is exposing so many Ugandan women to infections such as Urinary Tract Infections and yeast infections.
One of the researchers Dr. Franklin Wasswa, a Public Health Specialist, said that “The vagina doesn’t need any kind of wash or special substance to clean because it is a self- cleaning organ. “
He added that “Using a chemical wash distorts the normal cleaning process which exposes the vagina to infections. Soap or foam and the vagina do not have any business being near each other.”
Dr. Rosette Namulindwa, a Specialist Obstetrician/ Gynecologist at Mulago Specialized Women’s and Neonatal hospital, cautioned women to avoid using intimate washes to cover up health conditions that they might be suffering from.
Dr. Namulindwa said that “Using vaginal washes changes the vaginal pH, which can lead to a number of virginal infections. PH is the measurement of how acidic or alkaline (basic) a substance is. “
Namulindwa explained that “The normal vaginal pH is supposed to range from 3.6 and 4.5 making it moderately acidic. However, this depends on ones ages. During the ages of 15 to 49, it is supposed to be below or equal to 4.5. During menopause- 45 and above, the pH is higher than 4.5”.
She noted that “Some dealers even go as far as saying that they contain anti-aging chemicals. The manufactures of the vaginal washes claim they help women to protect their vaginas from infection and keep them fresh all the time, which is contrary to the old practice where women were advised to use plain water to clean genitals.”
“When women use washes, the vaginal pH is tampered with and as a result the pH might be lowered or increased. These variances create a perfect environment for bacteria such as yeast to grow which leads to infections,” Dr. Namulindwa explained. Dr. Namulindwa said that due to the high demand for vaginal washes, their research noted that there is an increase in the number of women suffering from infections, which they believe are as a result of using vaginal washes.
She however advised women to stick to the traditional methods of genital care and stop copying western things. “The best way to clean the vulva is using water. Soap is not needed. Washes are not needed. Even after monthly periods, only water should be used. Water works,” Dr. Namulindwa said.
However, whereas medics are discouraging women from using vaginal washes, retailers of the products adamantly market them as the answer to all genital care problems.
Josephine Atapi is a sales representative of AIM Global, the distributors of Naturacentail feminine Wash. She said their products are natural and don’t have any side effects.
Atapi explained that “We use natural products. This product has no side effects and helps women keep their vaginas clean since many times they sweat or even go to the toilet to urinate and do not clean themselves well which can cause discomfort and or even bad odour,”
Some of the elements in the wash include; Elemi Oil-plant tissue, which is supposed to act as a stimulant, an anti-inflammatory, tonic and pain relief for vaginal diseases such as vulvovaginitis.
Dr. Wasswa said that so many women are duped into using the products due to the aggressive marketing carried out by the manufacturers and sellers of the products. He said women are made to believe that the responsibility to address sexual issue lies with them.


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See Fritos’ first new campaign in 48 years
Welcome to the latest edition of Marketer's Brief, a quick take on marketing news, moves and trends from Ad Age's reporters and editors. Send tips/suggestions to [email protected].
Fritos hasn’t had a new campaign in 48 years. That’s changing with a big online push dubbed “Here’s to the Moment” featuring the corn chips as a companion to chili, including serving them during football games. The marketer overseeing the project, Frito-Lay VP of Marketing Sadira Furlow, might have a bit of a vested interest in promoting this particular brand. Her dad showed up for his first date with her mom more than 50 years ago clutching a bag of Fritos, according to the company. The rest is history. R/GA in Austin is the lead creative agency on the project, with OMD on media. Frito-Lay says it has planned a significant investment through the end of the year across YouTube, Facebook, Instagram, Twitter, and Pinterest. Frito-Lay is also working on a partnership with Hormel Chili that kicks off in November and includes co-branded recipes and in-store displays.
The ultimate Procter & Gamble marketing podcast
Seldom does one company have only two chief marketers in 17 years. Even less often does the first of those interview the second for a podcast. That happened earlier this month when Jim Stengel, former Procter & Gamble Co. global marketing officer for the first seven of those years, queried current Chief Brand Officer Marc Pritchard at the University of Cincinnati’s Carl H. Lindner College of Business for a podcast breaking today.
Their wide-ranging conversation chronicles some major marketing evolution at P&G, including most recently a shift toward spawning lots of startup brands, all of which has helped lead to stronger growth after a decade of struggles and restructurings.
Pritchard on one hand lauded Wieden & Kennedy’s legacy on the corporate “Thank You Mom” campaign around the Olympics. On the other, he lauded Secret’s brand team, which recently took its creative account from Wieden entirely in house, cutting costs and making an ad with a scene shot in P&G’s boardroom and a song the general manager helped write. Pritchard told Stengel: “I remember when you were there, you told me once, ‘There’s this great new agency, Strawberry Frog. You’ve got to try them.’ That was the beginning of the Fixed and Flow model,” by which P&G brands now combine an agency-of-record with liberal project work for new shops.
Asked by a student about P&G’s cost cuts, Pritchard said, “We were just spending way too much money to be able to produce work, and we were also just a little concerned we weren’t getting the total breadth of creativity.” Amid recent stands on race relations for "My Black Is Beautiful" and gender relations for Gillette, another student asked (in a question that didn’t make the cut for the final podcast) if P&G will take a stand on gun control. “That’s actually a question we’re discussing right now,” Pritchard said, but he doesn’t see it as directly connected to P&G’s business as the other issues.
DiGiorno is getting into the delivery business next month. Sort of. The Nestlé frozen pizza brand with the tagline “It’s not delivery, it’s DiGiorno” is celebrating National Pizza Month with plans to deliver free pizza to five cities in October. Starting Oct. 1, fans are supposed to tweet the name of their city with the hashtag #DeliverDiGiorno, and the cities with the most mentions will snag the pizza.
Verizon and Macy's
As Verizon Media expands into a new augmented reality feature for its ad offering “Moments”—a native ad format for apps and websites—the telecommunications brand can now count Macy’s as a user. The new AR allows consumers to interact with products in a 3D environment through the ad. Verizon announced the Macy’s get earlier this week.
Here’s the poop
In this week’s odd-couple pairing, Hotels.com has gotten together with Poo-Pourri, the toilet spray brand, for a new campaign designed to benefit both brands, #FirstPooWithBoo. The push looks at how new couples taking their first trips together can navigate the bathroom experience. The brands worked with agency Crispin Porter Bogusky on the campaign, which includes a bevy of long-form and short-form digital spots. The work will run for six weeks.
How low can you go?
When it comes to new beers, thin is in—at least at MillerCoors, which is coming out with three new low-cal brews. Debuting next year is Blue Moon Light Sky, a 95-calorie light citrus wheat beer “brewed with real tangerine peel and dry hopped with Azacca hops,” according to MillerCoors. Also in development is 92-calorie Coors Peak, which comes in pure light beer, citrus and berry varieties, as well as 93-calorie Leinenkugel’s Spritzen, which the brewer says “combines Leinenkugel’s beer with a splash of flavored hard seltzer.”
Would you buy this?
Taco Bell is now selling limited-edition Reaper Ranch tortilla chips in retail stores after serving a Reaper Ranch sauce with its Nacho Fries earlier this year. The spicy-pepper-meets-ranch chips, at chains including Circle K, CVS, 7-Eleven and Walmart, follow Taco Bell’s Classic, Diablo, Fire and Mild chips.
Number of the week
1 million: number of Amazon Echo Auto devices that Nationwide plans to give out to its new and existing auto insurance policyholders as part of a new promotion with the tech giant.
Tweet of the week
Comings and goings
Brinker International Inc. promoted Ellie Doty to the role of chief marketing officer of Chili's Grill & Bar. Doty, who joined Chili’s as VP of marketing in 2017 and was promoted to senior VP in 2018, previously held marketing positions at KFC, Taco Bell and Long John Silver’s. Chili’s had been without a CMO since December, when Steve Provost became the chain’s chief concept officer.
Contributing: Jessica Wohl, Adrianne Pasquarelli, Jack Neff, E.J. Schultz


text:
Ex-BioWare boss Casey Hudson has announced his next venture called Humanoid Studios, which he says is working on an unannounced title.
Hudson announced the news on Twitter last night (June 29). He detailed how the new venture is an “independent videogame company” and that it will “unleash the creative freedom of developers”.
Today we are announcing a new independent videogame company built to unleash the creative freedom of developers – bringing innovation and artistry to players through an all-new IP.
— Casey Hudson (@CaseyDHudson) June 29, 2021
The developer left BioWare in 2020, after previously returning as general manager in 2017. Prior to leaving the developer for the first time in 2014, Casey worked as a project director on Star Wars: Knights Of The Old Republic and the original Mass Effect trilogy.
Humanoid Studio’s official website states that it employs “talented developers from around the world”.
The studio is advertising a number of positions on its site, including a senior gameplay programmer, a senior gameplay designer and a director of operations.
Humanoid Studios’ website offers no other information on what the studio might work on. However, the page does state that “more is coming soon”.
Hudson announced his BioWare departure in December on BioWare’s blog. In the post he expressed his sadness at having to leave: “It’s not an easy decision to make, and big changes like this always come with a certain degree of sadness. I will miss being able to work every day with our inspiring developers on the biggest and most exciting projects I can imagine.”
“It’s profound and humbling to look back on a decades-long career and think about the things we’ve achieved together. It’s hard to make the decision to move on, but I’m excited about what’s next, for all of us,” added Hudson.
Elsewhere, Square Enix has announced that it will remove Final Fantasy V and VI from Steam next month.
Both titles will be replaced by the recently announced Pixel Remasters, although Square Enix has still not provided a release date.


text:
The Australian Competition and Consumer Commission’s (ACCC) Targeting Scams Report found in total, more than $229 million was lost to scams in 2015.
Westpac CIO, David Curran, predicts that more partnerships between big banks and smaller fintech startups will help to drive a new innovative working model.
An incompatibility with a software update and subsequent attempt to fix it were the root cause of glitch that forced a nearly four hour long suspension of trading on the New York Stock Exchange on Wednesday.
The New York Stock Exchange suffered its biggest outage in more than 10 years on Wednesday when an unspecified technical glitch forced a 3.5-hour long suspension of trading.
Line up for IPv4 addresses... HP makes PC/enterprise split official... PayPal to buy money transfer service Xoom... and more tech news
Former customers of MtGox, once the world's largest trading place for bitcoin, can finally file claims for lost assets.
Automated teller machines have been around for decades, but surprisingly few changes have been made to the technologies that run them. That's about to change.
The mobile payments space is about to get more crowded: CurrentC, a platform backed by some of the country's biggest retailers, will launch in the next few months and give Apple, Google and Samsung added competition.
In just under six months, a behind-the-scenes switch in the payments industry will change the way U.S. consumers shop and could bring wider acceptance for Apple Pay and its competitors.
It was just about two weeks ago that Box set out to remove a major barrier to the cloud for security-minded organizations with its Encryption Key Management capability. Now, it's taken that focus a step further with a full-fledged cloud storage servi...
With a free Chip & PIN card reader, Swedish mobile payments company iZettle is lowering the threshold for small companies to start accepting card payments.
Nearly all of the roughly US$370 million in bitcoin that disappeared in the February 2014 collapse of Mt. Gox probably vanished due to fraudulent transactions, with only 1 percent taken by hackers, according to a report in Japan's Yomiuri Shimbun new...
The launch of Apple Pay last month jump-started the mobile payments business, with several companies pushing hard to become your preferred payment method in stores. Even more competitors are on the horizon, promising to bring a lot more security and ...
Starbucks says mobile payments are taking off in a big way and it's already handling almost 7 million a week at its U.S. coffee shops.
Several major national and international banks are planning to launch their own mobile payments apps next year.
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text:
The COOP has decided to stop selling their plastic bags for life. Once current supplies have gone, then they will not be replaced. The 2600 stores are expected to use of all the existing supplies by the end of the summer 2021. It seems many shoppers only used the 10p bags once before throwing them away. The Coop binning bags for life will mean a reduction of a whopping 29.5 million bags each year. That’s about 870 tonnes of plastic! All coop stores will continue to provide the green compostable bags instead. While the green bags are a common site in Winstanley, this cannot be said for many other Coops nationwide. It now seems that will change.
Bags for Life have Increased Plastic Use in Retail?
The Coop has praised the success of the single use carrier bag levy. What’s more there has been a 95% reduction since its introduction in 2015Greenpeace data shows that supermarkets issued over 1.5 billion bags for life in 2019. That’s a huge weight of 44,913 tonnes which is a 56 percent increase from 2018. Coop Food’s chief executive, Jo Whitfield, states the increased use of bags for life actually led to a sharp rise in plastic use.
Many shoppers are regularly buying ‘Bags for Life‘ yet use just them just once. Being heavier, the bags for life use more plastic and result in more emissions during manufacturing. The Coop is urging the government to set the minimum price for reusable bags being set at 50p, to encourage people to use them more than once.
Currently, the Coop is the only major retailer to report on all of the bags it sells.
What Our Other Supermarkets are Doing
Wherever you shop, it is not hard to notice that just about all supermarkets have tried to cut plastics use.
Sainsbury’s says its bags for life cost 20p to encourage customers to re-use them and are made from 100% recycled plastic.
Asda defends its plastic bags for life, saying they were a “sustainable alternative to single-use carrier bags…” However with the evidence provided by the Coop and Greenpeace this may not be the case.
Morrisons has said it will remove all plastic carrier bags from its stores over the next year. It will will switch from plastic bags for life and now offers a tear-resistant paper alternative. Morrisons says the move will make it the first UK supermarket to stop using plastic carrier bags completely.
Waitrose is currently trialling the removal of its 10p bags for life from a number of its stores with a view to rolling it out more widely.
Coop Binning Bags for Life – There’s More
The Co-op has also published a new report called “Bag to Rights” in which it details some recommendations it is making to government on plastic bag use.


text:
News articles about Nike (NYSE:NKE) have trended somewhat positive this week, according to InfoTrie Sentiment. InfoTrie identifies positive and negative press coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores closest to five being the most favorable. Nike earned a media sentiment score of 0.67 on their scale. InfoTrie also gave media stories about the footwear maker an news buzz score of 0 out of 10, indicating that recent press coverage is extremely unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have effected Nike’s analysis:
A number of analysts have weighed in on the stock. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of Nike in a report on Friday, December 13th. Argus increased their price objective on shares of Nike from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. They noted that the move was a valuation call. Evercore ISI assumed coverage on shares of Nike in a research note on Friday, December 20th. They issued a “buy” rating and a $150.00 price objective for the company. BNP Paribas assumed coverage on shares of Nike in a research note on Thursday, October 3rd. They issued an “underperform” rating and a $82.50 price objective for the company. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $110.00 price objective (up previously from $101.00) on shares of Nike in a research note on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Nike currently has an average rating of “Buy” and an average price target of $106.25.
Nike stock traded down $1.56 during midday trading on Friday, hitting $101.74. 287,234 shares of the stock were exchanged, compared to its average volume of 4,559,038. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $162.73 billion, a PE ratio of 35.60, a P/E/G ratio of 2.49 and a beta of 0.84. The company has a fifty day simple moving average of $100.73 and a two-hundred day simple moving average of $91.62. Nike has a 52 week low of $77.07 and a 52 week high of $105.62.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.12. Nike had a net margin of 11.21% and a return on equity of 50.03%. The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.09 billion. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Nike will post 3.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.245 dividend. The ex-dividend date was Friday, November 29th. This is an increase from Nike’s previous quarterly dividend of $0.22. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.96%. Nike’s dividend payout ratio (DPR) is 39.36%.
In related news, Director Peter B. Henry sold 2,416 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $101.14, for a total transaction of $244,354.24. Following the transaction, the director now directly owns 4,046 shares in the company, valued at $409,212.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark G. Parker sold 165,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $93.55, for a total transaction of $15,435,750.00. Following the transaction, the chief executive officer now owns 2,046,040 shares in the company, valued at $191,407,042. The disclosure for this sale can be found here. Insiders sold 486,416 shares of company stock worth $47,551,974 over the last quarter. 3.80% of the stock is owned by corporate insiders.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Further Reading: How prevalent are 12b-1 fees?
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text:
Sotheby’s have seen a 50% increase of revenues generated from private treaty sales for the third quarter of 2012.
Yet again the results underline just
how important this growing source of business is to the auction
house and its chief rival, Christie's. The two are now also thought
to be the world's largest dealers as a result of this
Overall, Sotheby's revenues grew 18%,
reaching $68.5m, largely thanks to the $4.9m private sales revenues
and a $1.6m boost in finance segment revenues.
The third quarter which runs to the
end of September traditionally returns a loss as it covers the
relatively inactive summer period. This year was no exception, with
Sotheby's declaring a pre-tax loss of $46.4m, but that was $11.5m
less of a loss than for the third quarter of 2011.
However, the net loss was up $2.8m
largely, says Sotheby's, because last year the company benefited
from a favourable reassessment of their tax liability.
It is likely to be the markets
themselves rather than internal tweaking that will have the most
significant impact on the company's performance by the end of the
The weakening Far Eastern market has
been evident in the comparison of results from the October sales in
Hong Kong: $261.9m in 2012 as opposed to $410.8m in
Overall, the first nine months of 2012
saw a 58% ($57.7m) fall in profits year on year. Again, Sotheby's
point to 2011 as a boom year, with a large number of single-owner
sales, as the reason for this year's decline, adding that this has
partially been offset by strengthening private treaty sales
Seasonal highlights have boosted revenues,
however, including Gerhard Richter's Abstraktes Bild,
a record for a work by a living artists when it took £19m in
London on October 12.
Chief executive Bill Ruprecht also
announced that Sotheby's had been able to restructure the company's
debt at far more favourable rates to contribute significantly to
the bottom line. The resulting savings will allow the company to
settle convertible notes, which form part of their debt security,
by the time they mature in June next year.
Antiques Trade Gazette is the weekly bible of the fine art and antiques industry. Read articles like this every week in the Antiques Trade Gazette or ATG app. Click here to subscribe today.


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Dragon Rouge Singapore is proud to announce the appointment of Gökçe Şahbaz as Executive Creative [...]
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RHB had recently launched its national day film titled Teguh Bersama (Stronger Together). Created by [...]
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U.S. producer prices increase; near-term inflation expectations ease
Producer prices increase 0.3% in November
PPI rises 7.4% year-on-year, smallest gain since May 2021
Excluding food, energy, trade services PPI climbs 0.3%
Core PPI increases 4.9%; smallest rise since April 2021
By Lucia Mutikani
WASHINGTON, Dec 9 (Reuters) - U.S. producer prices rose slightly more than expected in November amid a jump in the costs of services, but the trend is moderating, with annual inflation at the factory gate posting its smallest increase in 1-1/2 years.
The report from the Labor Department on Friday also showed underlying producer prices increasing at their slowest pace since April 2021 on a year-on-year basis. Consumers' one-year inflation expectations fell to a 15-month low in December, other data showed.
The reports were published ahead of the Federal Reserve's two-day policy meeting next week, at which the U.S. central bank is expected to start dialing back the size of its interest rate increases. Consumer prices data next week will shed more light on the path of inflation.
"Easing producer prices foreshadow an improving inflation environment," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. "The Fed will likely downshift the pace of rate hikes next week and should continue to downshift in 2023. However, the monthly increase in producer prices illustrates the need for continued tightening."
The producer price index for final demand rose 0.3% last month. Data for October was revised up to show the PPI gaining 0.3% instead of 0.2% as previously reported.
A 0.4% rise in prices for services accounted for the increase in the PPI. Services, which edged up 0.1% in October, were last month driven by an 11.3% surge in the costs of securities brokerage, dealing, investment advice and related services. Prices for machinery and vehicle wholesaling, portfolio management and long-distance motor carrying also rose.
But the cost of airline tickets tumbled 5.7%. Prices for automobiles and parts dropped while the cost of hotel accommodation fell 1.6%. Healthcare costs rose moderately.
Portfolio management fees, airline tickets, healthcare and hotel accommodation go into the calculation of the personal consumption expenditures (PCE) price index, excluding the volatile food and energy components. The Fed tracks the so-called core PCE price index for its 2% inflation target.
Goods prices nudged up 0.1% after accelerating 0.6% in October. A 3.3% increase in food prices was offset by a 3.3% drop in energy costs. Excluding food and energy, wholesale goods prices increased 0.3% after being flat for two straight months.
This solid increase in core goods prices poses an upside risk to the core goods disinflationary trend that was evident in recent consumer price index data. The government is scheduled to release November's CPI report next Tuesday.
"While core goods prices in CPI are still very likely to decline in November given falling used car prices, a renewed increase in core goods PPI highlights that there remain some underappreciated upside risks to goods prices into next year," said Veronica Clark, an economist at Citigroup in New York.
In the 12 months through November, the PPI increased 7.4%. That was the smallest gain since May 2021 and followed an 8.1% advance in October. Economists polled by Reuters had forecast the PPI climbing 0.2% and rising 7.2% year-on-year.
Stocks on Wall Street were trading higher. The dollar was little changed against a basket of currencies. U.S. Treasury prices fell.
INFLATION GRADUALLY SLOWING
A separate report from the University of Michigan showed its measure of consumers' one-year inflation expectations fell to 4.6% this month, the lowest reading since September 2021, from 4.9% in November. The survey's five-year inflation outlook was unchanged at 3.0% in December.
"The big picture is that there is still no evidence of inflation expectations becoming unanchored," said Andrew Hunter, a senior U.S. economist at Capital Economics.
Inflation is gradually slowing as supply chains ease and demand for goods ebbs. The Institute for Supply Management last week reported that its measure of prices paid by factories for goods dropped to a 2-1/2 year low in November.
But the shift in spending to services means overall inflation will remain elevated for a while. Some of the price pressures are seen coming from the labor market, with wage growth accelerating in November.
That has left economists expecting the Fed will continue tightening monetary policy and lift its policy rate to a level higher than the recently projected 4.6%, where it could stay for some time. The central bank has raised the policy rate by 375 basis points this year from near zero to a 3.75%-4.00% range, in the fastest rate-hiking cycle since the 1980s.
Excluding the volatile food, energy and trade services components, producer prices gained 0.3% in November. The core PPI rose 0.2% in October. In the 12 months through November, the core PPI advanced 4.9%, the smallest rise since April 2021, after increasing 5.4% in October.
With the PPI components that feed into the core PCE price index mostly soft, economists believe this inflation measure likely rose by about 0.2% in November, which would lower the annual increase to around 4.7%. The core PCE price index gained 0.2% in October and was up 5.0% year-on-year.
"Inflation is moving in the right direction, though at a slow pace," said Kurt Rankin, a senior economist at PNC Financial in Pittsburgh, Pennsylvania.
UMich inflation expectations Link
Reporting by Lucia Mutikani; Editing by Chizu Nomiyama and
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