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The Federal Budget was unveiled last night and was dominated by initiatives aimed at the business sector. While SMBs will see tax cuts and improved incentives, startups have scathing criticism about the perceived lack of benefits for their industry. Here are the details.
Money image from Shutterstock
The Federal Treasurer Scott Morrison was keen to promote how the new budget will help SMBs, that are collectively one of our country’s biggest employer, and announced a reduction in the corporate tax rate from 28.5 per cent to 27.5 per cent from July 1. While previously, only SMBs with a turnover of less than $2 million could benefit from this kind of tax cut, the threshold is now $10 million. This turnover threshold will progressively increase until it reaches $25 million by 2018.
By 2025, the corporate tax rate will also gradually drop to 25 per cent. For unincorporated businesses, the tax discount for them has gone up from five per cent to seven per cent.
Tax deduction on business equipment under $20,000 has now been extended to businesses with under $10 million turnover as well.
SMB accounting software company MYOB lauded the Government’s focus on the smaller end of town in this year’s budget but wanted the significant changes to the company tax to be implemented now rather than in a decade’s time.
“It’s like SMBs have been given a terrific present but told it is coming in pieces and they can’t open it up for decades,” MYOB CEO Tim Reed said. “MYOB also welcomes the move to widen the eligibility for the $20,000 tax write off for small businesses however the Government should consider making this a permanent feature to support the economy.”
He was pleased with the announced simplification of Business Activity Statements which will make GST compliance easier for SMBs.
While startups do reap the benefits brought in by changes to the SMB taxation system, there is overall disappointment at the Government at the lack of investment in this growing sector.
Australia’s peak advocacy group for startups StartupAUS noted that almost all the measures relevant to startups that has been alluded to in the Treasurer’s budget speech had already been announced six months ago. This includes the New Enterprise Investment Scheme (NEIS) which has been expanded to cover financial technology startups.
“The Government is making much of its support for Australia’s transition to a ‘new economy’. But ‘new economy spending in this budget has taken the form of billions of dollars spent on old economy industries, like ship-building and traditional rail,” StartupAUS CEO Alex McCauley said. “R&D spending doesn’t feature prominently. This is a disappointing and outdated approach.
“Australia needs to substantially boost its R&D spending if it wants to measure up to its international competitors — we are well outside the top 10 countries globally both in terms of absolute R&D expenditure and as a percentage of the GDP.”
He noted that there is more money from the budget being blown on helping mining companies prospect for resources than to help create a supportive environment to nurture entrepreneurs to build high-growth technology companies in Australia. Overall, McCauley saw this year’s budget as a missed opportunity for the Government to aid startups in the country.
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(Fortune) -- When gold prices turn skyward, like they did for the past two weeks before some recent flattening, some mix of greed, fear and uncertainty are likely ruling the market. What better time to remember what really drives prices over the long-term: market fundamentals. Through that lens, gold might not be such a hot investment.
The gold market works much like any other, with supply and demand eventually equalizing, and runaway prices returning to long-term averages. Since 1980, the price of gold has averaged about $440 an ounce in U.S. dollars. But much like U.S. home prices over this decade, it can take some time for prices to return to normal.
Barclays Wealth in London predicts gold will fall to a fair value of $800 an ounce by 2012, as investors eventually dump it for riskier trades; Societe Generale, the French bank, in April 2009 predicted $800 gold by the end of 2010, though it has reversed its stance since then. Analyst John Nadler of gold deal Kitco predicts gold will fall to $900 in 2011. (See editor's note below.)
Their reasoning is simple: investors are keeping prices high even as demand from non-investors is cratering.
Take gold jewelry, which accounts for more than half of the world's gold market. Demand there fell 8% in the fourth quarter of 2009 and is likely to continue to fall amid high prices that turn off shoppers. For example, in India, the largest gold buying country, high gold prices this week kept Indians from purchasing metal for the gold-buying festival of Akshaya Tritiya, which in turn drove down prices.
Then there's price pressure from the supply side. Higher gold prices mean miners work overtime. The supply of mine gold around the world jumped 7% last year to 2,572 tons-the second largest increase in history.
Gold bullion dealer Kitco says places like China and Russia will help boost the amount of gold from mining by 4% to 6% a year through 2014. Because it costs miners about $480 on average to extract an ounce of gold, they plow ahead when prices are high, eventually leading to an oversupply situation.
Gold as $1,200 also brings out the sellers and resellers. In 2009, scrap supply-all those gold pendants, necklaces and coins people have lying around-hit an all-time high of 1,700 tons. All those "we buy gold" signs, Internet advertisements and late night television commercials? Well, they're starting to work.
That scrap supply high is actually a 27% rise from 2008, according to Kitco. "So long as prices remain above $1,000-$1,100 we will continue to see a river of secondary gold actually starting to compete with mine production," says Jon Nadler, a Kitco analyst.
The real reason for the drop: stabilization in other markets
That's not to predict an immediate gold crash. The "fear premium" it commands as a store of value during uncertain financial times could support higher prices indefinitely.
As traders sort out the effects of Europe's $1 trillion bailout and whether inflation or deflation creep up in the U.S., investors will probably continue parking in gold as long as they can. Gold has slumped just a bit as a sense of some stability has returned to the markets in Europe.
But some of the smart money is betting that gold keeps rising. Hedge funds and other big speculative traders boosted their gold bets by 2% last week, according to data from the U.S. Commodity Futures Trading Commission.
The thing is, no one knows how long their bets are for. Fast money from hedge funds and speculators can get out while prices are high. In fact, one of the prevailing themes among speculators seems to be: ride the momentum while it lasts. Often times their ownership of gold lies in futures, never even taking physical delivery of the yellow stuff.
Essentially, it's the Rabbit Angstroms (and now Glenn Beck watchers) of the world that have to fear the gold Krugerrands in their safe deposit boxes could slowly shed all the value they have picked up over the last year.
Dennis Gartman, a hedge fund manager and newsletter editor who is betting on gold, wrote last week that "the public is selling gold not buying it, as evidenced by the fact that there are as many advertisements on television touting the opportunities one might have in selling one's gold ... as there are touting gold as an investment.
"Until ... the latter advertisements dwarf those of the former, the Bubble has not yet been blown."
In other words, bubbles and semi-bubbles rarely last-the market fundamentals are just too powerful to ignore.
|Ford Motor Co||8.29||0.05||0.61%|
|Advanced Micro Devic...||54.59||0.70||1.30%|
|Cisco Systems Inc||47.49||-2.44||-4.89%|
|General Electric Co||13.00||-0.16||-1.22%|
|Kraft Heinz Co||27.84||-2.20||-7.32%|
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And we ought to expect even more countries to use behavioural economics to nudge good citizen behaviour, says China commentator Tom McGregor.
BEIJING: Western media reports have swirled about China’s social credit system, which is intended to nudge Chinese citizens to adopt good behaviour, including motivating them to pay outstanding debts and fines, as well as encouraging them to obey the country’s laws and regulations.
A POINTS SYSTEM
But criminals, delinquents, and those who are default on debts, as well as those indicted for bad behavior when traveling overseas will have lower social credit rankings and be marked as having a “delisted” status.
“Discredited” Chinese citizens face greater scrutiny from the public, meet tougher challenges when applying for new credit cards, getting bank loans and in more severe cases, may be blocked from buying airlines or train tickets, until they repay their outstanding debts and fines.
While media reports have sensationalised this social credit system, China cannot take credit for the ethos and thinking behind its design that advocates strong, hurtful disincentives for unwanted behaviour.
Similar social credit systems have already been enforced in many other countries around the world. Examples include the US-based FICO credit system.
Japan enforces strict health requirements for its national health insurance, such as requiring people to see a dietitian and counsellor if their waistline exceeds certain limits. French President Emanuel Macron has also called for a new law to ban so-called political extremists for life on social media accounts.
Sweden has taken it to new levels with a rice grain-sized microchip that can be implanted under the skin of one’s hand to replace the need for keys, credit cards and train tickets. It might sound shocking but over 4,000 Swedes have adopted the technology.
KEEPING HOUSEHOLD DEBT IN CHECK
Nevertheless, there’s no denying that China’s social credit system has enforced more Orwellian methods than anywhere else. No doubt name-and-shame moves to put the faces and names of perpetrators who jaywalk might seem disproportionate.
Some developments that might cause the Chinese government to relax its rules are underway.
The country is shifting away from an exports-driven and manufacturing-based economy and leaning on consumption and services-oriented sectors to become key drivers of the domestic economy – meaning that the country’s priority will be to encourage its citizens to spend more to keep money circulating in the country.
But that’s not a fool-proof solution for sustainable development and could lead to more Chinese defaulting and amassing huge household debt. The South Korean economy has already struggled under similar circumstances.
Many Asian countries have long enjoyed good reputations as savers, not spenders, but decades ago, South Korean credit market was liberalised and over many years, “cheap money” turned price-conscious South Koreans into debt-ridden shop-a-holics. That has sowed a harvest of misfortune.
According to the Bank of International Settlements, Seoul’s household debt stood at 96.4 per cent of GDP at the end of the second quarter in 2018, up 2.4 percentage points from the previous year.
The burgeoning household debt has been cited as a chief risk for the country’s precarious economic recovery.
Meanwhile, Japan’s household debt to GDP stood at 57.1 and China’s – 48.0. As we can see, Chinese households have continued to prioritise savings, but if credit markets open up, the potential for super-charged spending habits by the Chinese to encroach on growth could pose a grave threat to the domestic economy.
Still, China does not wish for its citizens to engage in out-of-control shopping patterns. Despite rapid modernisation, Chinese culture promotes thriftiness and control over personal finances. But when there’s temptation for easy credit, anyone may feel an urge to splurge.
Meanwhile, other countries have awoken to the threat posed by growing consumerism, and are beginning to implement similar measures to control household debt.
Germany has a credit scoring system known as Schufa similar to FICO, but grades Germans on how healthy they are as well by offering them cheaper premiums if you share data from your fitness tracker proving you’re keeping active.
CHINA’S SOCIAL CREDIT MAY GO MAINSTREAM
China’s social credit system is here to stay and there’s no turning back the clock. It’s not the first and as the model proves over time its effectiveness, we can expect even more countries to adopt similarly designed systems based on behavioural economics to nudge behaviour.
Many of the measures may seem politically incorrect but countries should be left to their devices to determine what slate of incentives and disincentives are appropriate to their national context.
What might be interesting is if governments cooperate to factor in points lost and gained when their citizens head to another country. That might open up a can of worms from the perspective of jurisdiction and values.
Meanwhile, the Chinese don’t mind the social credit system so much – if that secures order and discipline on a societal level.


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An argument can be made for both sides of this question. And some companies, like Visa, are putting the technology to the test. Most likely, the first group of consumers to try this technology are online gamers. Online gaming will be the testing ground for Visa to see if the general society and businesses’ e-commerce are ready for such technology.
One of the greatest assets a digital wallet provides is quick and easy purchases of items, for online gamers especially, as new games come out as often as gamers buy them. If the system works as it should, a consumer’s financial history can be stored in one spot, as well as other information, such as medical data, a traveler’s frequent flier points and appliance warranties. There would be no more need for continuously filling out the usual billing information or personal background one usually goes through for an online purchase.
For shoppers at physical shopping locations, it would be just as easy. With NFC-enabled smartphones or other mobile devices they’re carrying, all the consumer has to do is connect to the check-out counter’s device, wave their smartphone right by it, like you would with a e-card for bridge toll, and you’re purchase is complete. Long lines during Black Friday may never ever exist again. The thought of having to handle less cash may be a warming thought for consumers, too. They’ll no longer have to worry about losing their money or being pick-pocketed or, even worse, mugged for their cash. All of their finances would be locked and secured in their mobile devices.
Another positive point about this technology is that major tech companies are already pushing for the technology and it may be widely adopted quicker than people think. Mega-tech businesses like Google are already on board to get digital wallet technology going, having teamed up with Citibank, First Data, MasterCard and mobile phone companies like Samsung, Sprint and VeriFone.
With security features today, and with a smartphone user’s option to add more security via online systems like LifeLock, consumers may come around quickly to this technology if they are reassured that their identity is safe.
It is true that if consumers can trust their digital wallet security, they may warm up to it quicker. But as much as consumers use their mobile devices and purchase items online, they are still heavily embedded in the physical currency system. Digital wallets can promise to make it easier and safer to purchase items online, but consumers may not rush to the idea. Awareness of such technology still has a ways to go and many consumers may become confused as to how it all works. Still others may be staunch in their ways and may not want to conform to totally digital financing.
It’s one thing to convince consumers on digital wallet technology, but it will be another hurdle to convince businesses and stores. They’ll be the ones to have to invest in new equipment to allow the technology to work with multiple mobile devices. Businesses are converting to e-commerce for shoppers like online gamers, but just how daunting will it be to convert to the technology at its physical stores? According to Newtek, 82 percent of small businesses don’t have the necessary equipment for digital wallet technology to work. How expensive will it be to get that equipment and how reliable will it be? Businesses may not want to invest in what is a risky business at the moment, only because no one knows just how smoothly it would go over.
Digital wallet technology seems like a great idea, on paper or on screen. But adopting it into the worldwide commerce and expecting it to replace traditional currency is asking a lot. There may be too many concerns of cost and security for both consumer and business for digital wallet technology to happen overnight. However, it could be a hit for niche consumers, such as online gamers. Gamers are already used to purchasing items and games online, and may immediately warm up to the idea of the digital wallet, considering the time they spend just ordering a new game now. So, digital wallet technology may prove to be able to sway certain consumers rather quickly. But on the whole, it may take a lot more convincing before its widely accepted.


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Apple has made the announcement regarding its newly acquired startup outlining that it will be leveraging on its technology to make charging iPhones and other devices a lot better. On Wednesday, the tech guru made a confirmation to New Zealand news outlet Stuff revealing that it had was overwhelmed with its success in the acquisition of PowerbyProxi.
Dan Riccio, Apple’s senior vice president of hardware engineering, disclosed that the startup’s was going to be a major addition as the company proceeds towards creating a wireless future.
Market analysts and researchers have over a number of years criticized Apple outlining that it failed at keeping pace with competitors such Samsung and others who had invested in wireless charging in their tablets, smartphones and other devices.
Apple has proceeded to silence critics by unveiling iPhone 8 Plus, iPhone 8 and iPhone X and all these were associated with wireless charging. The company has also moved forward to make the announcement about AirPower, which happens to be its latest charging pad. If everything moves according to plan, it intends to unveil it in the course of next year. It takes the strong stand that AirPower will be capable of charging numerous devices including Apple Watch and the iPhone at the same time.
PowerbyProxi was founded back in 2007 and it has achieved immense success when it comes to bringing wireless charging to multiple devices, including medical equipment, drones, as well as other big products that utilize battery power but are typically tethered to walls.
The company believes that it will be a great move for it to get to tap into the PowerbyProxi’s technology. The company has settled on a remarkable mechanism for transmitting more power wirelessly than the smartphones’ standard wireless chargers. It thus goes without saying that indeed Apple is capable of using PowerbyProxi to enhance the charging of iPhones.
The secretive Apple hasn’t to this moment announced any specific plans. Just like the rest of the startups, PowerbyProxi may be compelled to either chart its way or fold into Apple’s existing teams.


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My Little Green Book: Fredrika Klarén, Polestar’s Head of Sustainability
Fredrika Klarén discusses the push for sustainability in the automotive industry
Lisa Grainger speaks to Polestar’s head of sustainability, Fredrika Klarén, about creating a better future for people and planet.
My Little Green Book: Fredrika Klarén, Polestar’s Head of Sustainability
Cars and sustainability aren’t words that normally go together very well. Almost a fifth of all carbon emissions comes from transport – and three-quarter of that is emitted by cars. So when one of Sweden’s leading sustainability advocates, Fredrika Klarén, starts to wax lyrical about driving, it comes as a bit of a surprise. ‘I love cars: the design, the performance,’ she says. ‘I get such pleasure out of mine: looking at it, driving it.’ That’s not only because the 44-year-old has long been what she calls a ‘EV geek’. But because she drives what she believes is one of the most beautiful green cars on the planet, the Polestar 2.
As the head of sustainability for the six-year-old, Swedish EV manufacturer, and one of the leading lights in the drive to make mobility greener worldwide, Fredrika Klarén is pragmatic about car use. People want the safety, convenience and comfort of cars, she says; there are currently 1.1 billion, or a car for every 7.8 people. The aim is to make them as clean and green as possible. ‘You have to build cars that live longer lives, that are used more, that are shared between people,’ she insists. ‘Cars designed for circularity, for long life, for high utilisation.’
Although, she admits, in a world with over eight billion people riven with inequality – with 710 vehicles per 1,000 people in America, and 0.5 per 1,000 in Africa – private car ownership is only part of a bigger picture. ‘Cars are part of an interconnected system in which public transport is hugely important, alongside cycling and walking. They all work in harmony; they all play their roles,’ she insists. That’s because they have to be, she says passionately. ‘As the world heats up, we can’t afford to open more coal plants and keep buying petrol. All of our lives are at stake. We have six years till we hit 1.5 degrees warming – or maybe sooner. Then we will set in motion catastrophic events.’
Having worked previously at Ikea and the fashion retailer KappAhl, Klarén has been able to see first-hand the impact that manufacturing has on our world – whether that’s cutting down trees for flatpacks, producing fabric for fashion or extracting metals for cars. Most companies, she says, clearly exasperated, are reluctant to be transparent. What that leads to is ‘people being exploited in supply chains all over the world and non-transparent ways of working that are ingrained. When you look at metals and minerals, for instance, corruption is one of the main hinders for progress.’
At Polestar, she insists, transparency is at the heart of the business – every car comes with a Lifecycle Analysis report that shows its carbon footprint, from supplies to manufacturing and recycling. By 2030 the company has set itself the ambitious task of producing Polestar 0, a car that is totally carbon neutral, without offsetting. Each of the 50,000 parts, she says, will be made by suppliers governed by a strict code of conduct and audited; already, for metals like lithium, cobalt, nickel and mica, the company has set up blockchain traceability. Its launch, she says, is driving everyone. While the CEO of its competitor, Tesla, focuses on Mars and Twitter, the production of Polestar 0 ‘is like going to the Moon. No one thinks we can do it. But we have to’.
En route, she says, they will share whatever they learn – so that other manufacturers can follow. At COP26 in Glasgow she was horrified to learn that only 1.5 per cent of the world’s cars are electric. That means, according to a Pathway Report they commissioned with the American vehicle company Rivian, the automotive industry is set to overshoot the 1.5-degree pathway by at least 75 per cent by 2050. ‘So we need to communicate and collaborate,’ she says. ‘We need to change.’ To stay within the carbon budget, she says, the industry has to do three things within the next decade: ‘to fully transition to only selling EV, to scale up renewable energy production to 100 percent, and to decarbonise our supply chains by 81 percent.’
All of which Polestar is working towards, she says. The company already has three big battery recycling centres – in China, Europe and America. They work with innovative companies, from Pensana mineral extraction in the UK, which mines using hydroelectricity, to a Swedish company called PaperShell, which makes high-tech materials from wood. And its two factories in China, she insists, are role models for other manufacturers. ‘The plant in Chengdu was the first in China to get LEED Gold Certification. And my Chinese colleagues are guiding stars when it comes to sustainability. They want to make a change; they are so impacted by pollution.’ Opening a new car factory in the US in 2024, and situating its R&D plants in Nuneaton in the UK, employing 400, she hopes, will help drive its sustainability ethos into other countries, too.
Growing up on a tiny car-free island outside Gothenburg in Sweden – the city in which she still works – taught her so much, she says, about ‘how we are dependent on nature being in balance for all the ecosystem services we need. But also, growing up on a small island you also understand the importance of community and collective progress, as opposed to individual progress. That, more than anything, has made me want to work in sustainable development. I have it in me, with me, from my upbringing.’ Being raised by a single-parent father who uses a wheelchair also gave her other insights and strength, she says. What he taught her, she says, ‘is going full speed ahead on being myself. And showing me resilience. I’ve seen how you can persevere through all sorts of challenges if you have the right mindsets and the right support.’
But even in Sweden, which is famously progressive, businesses, and in particular the automotive world, are still dominated by men, she says. ‘We have come a long way, and we should give thanks to the women who went before us – who fought so hard for my rights. But we are not where we need to be. We still have a huge wage gap between men and women – and gaps in the LGBTQ communities and people of other ethnicities. So we have to keep our eye on the ball.’
What she has learnt, she says, both from her degree in civil engineering, in which she focused on environmental systems analysis, and her career, is that ‘it’s important to take charge of how you want to live your life. We all feel powerless because we are in a rampant crisis and no one is taking control. But you have a choice: to freeze or take the power back.’
At home, she and her husband created a climate plan in which they wrote a list of things they needed to change in their lives. They installed solar panels on the roof, promised never to drive a fossil-powered vehicle again, stopped eating meat regularly, increased the second-hand share of what they buy, and decided to fly as a family only once a year. ‘I still worry a lot,’ she says, shrugging, ‘but I am doing what I can.’
The next generation, she suspects, will be more hard-core in their decision-making. Although her daughter is 16, and learning to drive, ‘she will never, ever, drive a petrol or diesel car, my kid. I am not sure she will even own her own.’ Instead, she says, she’ll probably car-share: ‘get a car from a car pool when she needs one. Or rent one if she’s abroad. Or use an app to share.’ What’s certain is that her daughter will have a hugely informed mother to turn to for advice – a woman who’s made it her mission to ensure more of us understand the impact of our lives on our planet. Which is a pretty good start.
Featured image credit: Polestar
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Sony dropped a detailed PS5 teardown video yesterday on YouTube, offering an in-dept look at the workings of the next-generation console. In fact, we’re still getting over how massive fan fan is. Not only, but the video has comfortably surpassed the PS4 and PS4 Pro teardown videos in terms of views.
PS5 Teardown Video Proves Hugely Popular With Viewers
The video, which features Sony’s Yasuhiro Ootori stripping the console to its meaty innards, has surpassed 4.5 million views in less than 24 hours. In comparison, the PS4 teardown has amassed just over 390,000 views since its release in November 2013 (although it wasn’t posted directly by Sony), while the PS4 Pro video has notched up 1.5 million views.
Evidently, PS5 fever is huge right now, although that’s hardly a surprise since folk have been clamouring for a proper teardown for months now.
Sony will launch the PS5 in the US and Japan on November 12 and in the UK and Europe on November 19.
[Source – WCCFTech]


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What a Monday it is turning out to be for the mobile industry — one major news announcement after another. Three of the most notable include:
- BlackBerry 5.0, the latest operating system update for RIM (s rimm) devices, is out. James Kendrick from jkOnTheRun has the details. From what I understand, it has follow-up flags for email, which makes it pretty useful.
- T-Mobile USA caused a major upheaval yesterday when it announced an everything unlimited plan for $79 a month. You just need to bring your own devices. Jason Devitt, CEO of Skydeck and one of our favorite mobile industry insiders, thinks this is a major development as it indicates that the market might be ready to transition from the culture of two-year contracts and subsidized phones.
- Verizon (s VZ) is betting that a slew of new devices, including the Android-powered Droid, are going to push its sales up in the coming quarters. The company needs a hit phone badly: It added 1.2 million new subscribers in the third quarter vs. 2 million added by archnemesis AT&T (s T) during the same period.


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SEP leads £26 million investment in LoveCrafts
Scottish Equity Partners (SEP) has led a £26 million investment into LoveCrafts, the creator of online crafts communities with millions of users worldwide. The investment follows a surge of industry recognition for LoveCrafts including being named one of the fastest growing UK and European companies by both the FT1000 and Sunday Times Tech Track 100 and induction into Tech City’s Future Fifty programme. Existing investors Balderton and Highland Europe also participated.
LoveCrafts’ mix of content, commerce and community enables makers and designers to find inspiration, plan projects, buy supplies and share creations with a fast-growing community of like-minded crafters across the world. The company has enjoyed four years of strong and steady growth and revenue continues to double year on year, supported by a 150 strong team.
Funding will enable additional investment in the technology platform and allow operations to scale with the launch of further crafting sites and a continued focus on international expansion.
Stuart Paterson, Partner at SEP said: “Crafting is the world’s largest hobby. LoveCrafts has built an impressive, scalable, digital community-based platform targeting an international market worth $100 billion per annum. It has a large and rapidly growing customer base in the UK and US, and our investment will enable further expansion across Europe and Australasia, reinforcing the company’s position as the end to end destination for crafting enthusiasts across the globe.”
Edward Griffith, Founder at LoveCrafts said: “It’s always been our goal to connect makers, designers and creatives across the world in a social and accessible way, and this investment will help us to do this in more markets, with greater scale and better tools. We are delighted that SEP, together with our current backers, share our vision for the business, and confidence in its future.”


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Google’s YouTube video site is in negotiations with Hollywood’s leading movie studios to launch a global pay-per-view video service by the end of 2010, putting it head-to-head with Apple in the race to dominate the digital distribution of film and television content.
Google has been pitching to the studios on the international appeal of a streaming, on-demand movie service pegged to the world’s most popular search engine and YouTube, according to several people with knowledge of the situation.
Google will use its search technology and YouTube to direct viewers to the new service, which is likely to launch first in the US, with other countries added over time, the people added.
“Google and YouTube are a global phenomenon with a hell of a lot of eyeballs—more than any cable or satellite service,” said one executive with knowledge of the plans. “They’ve talked about how many people they could steer to this...it’s a huge number.”
Negotiations have been ongoing for several months, but have taken on greater urgency in recent weeks, amid intensifying competition between media and technology companies over the digital delivery of film and TV programming. Apple is this week expected to unveil improvements to its TV device, which connects living-room sets to the internet, and eventually hopes to open the device up to “apps” developers.
Netflix , the film subscription company, is aggressively acquiring digital rights to movies for its streaming service, while Hulu, the online video site owned by Walt Disney , News Corp and NBC Universal , is planning a $2bn initial public offering.
The Google project has caused excitement in Hollywood because film studios are searching for new revenues to replace DVD sales, which are in steep decline.
Viewers will stream rather than download the films and pay about $5 for newer titles. The movies would be available at the same time as their release on DVD and on Apple’s iTunes store and Amazon.com , meaning Google could count on recent box-office hits to power the service.
YouTube said it had been beta-testing a film rental service since January.
Google has been searching for a breakthrough with YouTube since acquiring the video site for $1.65bn in 2006.
YouTube attracts millions of users but continues to be best known for its user-generated content. Yet it has struck several content deals and in April launched a free movie service.


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Australian food and beverage products are being promoted again at Food Hotel Indonesia (FHI), as part of an innovation programme organised by the state of New South Wales (NSW).
This is the first time the event is happening since 2019, with the previous two years hampered by the COVID-19 pandemic.
At this year’s live FHI event, 13 Australian companies from NSW are displaying a variety of high-quality food and beverage products at the NSW booth at FHI, held at the Jakarta International Expo Kemayoran.
“With the borders now open, I am pleased to see Australian companies enter the market and promote a range of high-quality food and beverage products,” said Australian Ambassador to Indonesia Penny Williams PSM during a visit to FHI on Thursday 28th July 2022 to review the exhibition and meet with representatives of participating Australian companies.
“We look forward to seeing new partnerships between Australian and Indonesian businesses as a result of holding this FHI, as well as benefiting from the ongoing implementation of the Indonesia Australia Comprehensive Economic Partnership Agreement (IA-CEPA).”
The NSW booth at Food Hotel Indonesia 2022 is the last part of the Going Global programme, with funding from NSW which gives companies from NSW the opportunity to participate in a six-month programme with a focus on preparing them for export.
“We see an opportunity to strengthen trade relations with Indonesia after the border reopened and FHI provides the right opportunity to introduce new Australian products and brands to the Indonesian market,” said Yonathan Wijaya, NSW Investment Director in Indonesia.


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The traditional business model for record labels that involves promotion and marketing driven by record sales and artists with a massive fan base is changing. And leaders of local music company Regenerate are capitalizing on the shifts in technology and in the industry.
“We’ve finally gotten to a place where we can turn all our attention to artist development,” Chris Garmon, president of Regenerate Music, said. “Due to declining record sales and oversaturation, major labors have pretty much stopped doing artist development.”
Generally, it’s difficult these days to get a deal with a major label, unless the artist already has a solid fan base, Garmon said.
Regenerate artist Micah Massey has been nominated for a Grammy: Best Christian Song for his work on "Your Presence Is Heaven."
Major labels don’t make enough revenue from trying to give an artist a big break, he said.
The traditional business model is also built around one major revenue stream from record sales.
But promoting major world tours using traditional media methods or relying on soaring record sales is not what Regenerate is about.
“We’ve found more cost-effective ways, such as guerilla marketing and fundraising, to supplement the lack of income,” Garmon said.
Artist development, social media strategy
Regenerate leaders help artists define their art and fan base, come up with a plan to engage those fans and encourage them to think about a sustainable business model.
They also help artists raise money to pay for Regenerate’s artist development. That way, the artist retains full ownership of their work.
Then, Regenerate leaders use social media to manage and promote the artists. And that doesn’t mean simply setting up a Twitter account.
It means increasing the number of people who connect with an artist via Facebook, Twitter, YouTube and other outlets.
And it means getting those people to consume content.
Leaders target specific people who would be likely to engage and buy music or otherwise consume content.
For example, leaders have helped one of the company’s bands, called Behold the Brave, get 4,500 new Twitter followers.
About 10 percent of those people are buying the band’s music on iTunes, Garmon said.
Another Regenerate artist, Rusty Clanton, has gained about 5,000 new Twitter followers in the past two months. Of those, half have also gone to read Clanton’s bio and subscribed to his YouTube channel, Garmon said.
“Fifty percent of them have engaged by going to two additional sites and consuming product,” he said.
The company makes money when artists they develop do well, but Regenerate leaders are also helping their artists come up with ways to supplement their own income.
For example, they encourage their artists to teach music lessons online.
They also use crowdsourcing, such as Kickstarter and PledgeMusic, to raise money.
And once they raise that money, Regenerate leaders work with the artists to help them spend that money wisely.
Small business connection
Regenerate leaders also aim to work on strategic partnerships between their artists and small business leaders, Garmon said.
The old business model may have included a big corporation, such as Coca-Cola, sponsoring a large, mainstream pop artist, but Regenerate leaders hope to get small businesses connected with smaller artists.
That piece of their work is still in its prototype phase, Garmon said.
Regenerate leaders have also expanded their social media management capabilities to be available to small businesses and nonprofits.
They recently took over the social media management for the nonprofit missions organization called Retouch the World.
“[Regenerate] has increased our followers by seven or eight times on Twitter [in the past month],” Chris Hadsell, founder and president of Retouch, said.
Having more followers and more people who know about Retouch is important. For example, now the organization is working to get girls out of prostitution in Kenya.
The social media campaign helped secure funding for 10 girls to be able to go to school and have food, books and HIV medicines, if needed.
“We couldn’t have done it without what [Garmon] is doing social media-wise,” Hadsell said.


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In the first half of 2018 food and drink exports hit a record £10.7bn, this figure up 5% for the same period last year. The Food and Drink Federation (FDF) has called for more export support in order to continue this success.
As autonomous vehicles continue to surround discussions in the automotive industry, a crucial question remains how much do both drivers and pedestrians trust AVs?
By adopting a digital, cloud-first strategy, Daikin Applied UK has created a truly connected customer value chain and a market-leading competitive advantage.
A service based approach to manufacturing a product is one level of servitization, but taking this concept to an entire factory to produce highly personalised items is an extremely ambitious plan, one that could potentially be normal in the future.
Top tips to guide your business through how to keep costs low and achieve success in a servitization model.
The US and Mexico have agreed to update the North American Free Trade Agreement (Nafta) in what president Donald Trump has hailed a "really good deal".
With a heritage dating back to the 1840's, British Rototherm is a world-leader in the supply of industrial instrumentation and services. Jonny Williamson reports on the 170-year-old manufacturer with the heart of a start-up.
It may enjoy a global reputation for precision metrology and process control, but more than anything, Renishaw represents innovation and technological advancement. Jonny Williamson headed to South Wales to pay the engineering powerhouse a visit.
If you’re in the manufacturing business, you’ll know only too well how much productivity and cost savings matter.
In this day and age, no matter what industry you happen to be in, tech is a must.


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Canopy Growth (TSX:WEED)(NYSE:CGC) stock may have bottomed. It rallied 12.7% soon after the company announced that it was partnering with Canadian rapper, Aubrey Drake Graham, to launch the More Life Growth Company, a fully licensed Toronto-based cannabis producer.
Under the agreement, Drake will own 60% of More Life Growth Company, while Canopy Growth will own 40%. Drake has a wide set of experiences from a spectrum of industries, including “music, television, film, fashion, sports, brand development, content curation and social and digital media strategy. Having launched numerous successful brands over the past decade, he is uniquely positioned to bring his innovative eye to the recreational cannabis industry,” stated in Canopy Growth’s recent press release.
Drake will be a big help as a marketing voice. Some may not know how big Drake is. He has 38.7 million followers on Twitter. An article published last Thursday by BNN Bloomberg wrote, “In June, Drake surpassed The Beatles for having the most Top 10 songs on the Billboard Hot 100 in a single year. He also surpassed Michael Jackson in 2018 for the most No. 1 songs by a male solo artist with 38 chart toppers.”
This is not the first time that Canopy Growth has teamed up with celebrities. Snoop Dogg, Martha Stewart, Seth Rogen, and Evan Goldberg are also on the list.
It’s not all rosy
At best, the announcement of the Canopy-Drake partnership is a marketing hype. The reality is that the Canadian cannabis producers are sitting on massive inventories.
Health Canada provides the latest verified high-level data of the demand and supply of cannabis in Canada. From January to August, the total inventories for dried cannabis had been in an upward trend and nearly tripled to a sky-high amount of 389,000 kg!
In comparison, sales of dried cannabis were a measly 13,000 kg in August. Even if the three-month sales growth rate of 35% were to continue for the next 12 months, it wouldn’t be enough to eat up the existing total inventory. Not to mention that the cannabis companies will carry on their usual production to increase the inventory.
To be clear, total inventory includes finished and unfinished inventory, whereas the latter is cannabis that is not packaged, labelled, or ready for sale.
There’s a similar situation for Canadian cannabis oil with inventories growing way faster than sales. It’s obvious that there’s an over supply of cannabis in Canada.
So, large-scale producers with global operations such as Canopy Growth will have a clear advantage with lower-cost production and international demand. Additionally, there’s hope that the roll-out of Cannabis 2.0 products, including edibles, infused beverages, concentrates, topicals, and vapes, which are expected to be legal for sale next month, will eat up the supply.
Canopy’s upcoming quarterly report on Thursday should shed some light on the management’s outlook on the industry. If things go well, Canopy Growth stock can soar to $40 real soon! That’s plenty of upside.
One little-known Canadian IPO has doubled in value in a matter of months, and renowned Canadian stock picker Iain Butler sees a potential millionaire-maker in waiting...
Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago - before it skyrocketed by 1,211%!
Iain and his team just published a detailed report on this tiny TSX stock. Find out how you can access the NEXT Shopify today!


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BriarPatch Co-op and Nevada County farms help each other
Special to The Union
This time of year, BriarPatch Co-op employees are burning the midnight oil in the produce section trying to keep up with an endless bounty that just won’t stop.
It’s September, and through the end of the month the bustling cooperative market is celebrating local and regional farms. More than 50 different kinds of locally and regionally grown certified organic and heirloom varieties of vegetables and fruits are on tap in October and November.
“In my world, it’s called ‘peak local season.’ This is the most exciting time of year. It’s harvest time,” said Produce Manager David Benson.
Year round, BriarPatch pulls directly from 50 local farms, with about 20 small farms — the “core farms” — providing the lion’s share of the store’s local and regional produce.
In 2014, 24 percent of the store’s sales dollars came from local and regional sources, directly from farmers.
“We sold over a million in local food, that’s just produce,” said Benson.
Customers who walk in the store’s front doors are met with large hanging banners featuring smiling faces of local farmers. Signs denoting the origin of mountains of fresh fruit and vegetables guide shoppers to buy from farms they know.
In addition, the store is selling T-shirts with farm names on the back, highlighting farms on the co-op’s Facebook page and giving away free samples daily.
Last month, the co-op’s tour of Filaki Farm in Browns Valley drew a crowd of 40 people, despite the off-the-beaten path location.
Meanwhile, food trends continue to grow as more and more people put in backyard gardens, ferment their own foods and invest in goat herd shares.
“That’s what people are craving,” Benson said.
Growing business with local farms
Since he started working at the co-op nearly six years ago, Benson has worked hard to increase connections with and support local farms and grow the local foodshed.
As a community-owned cooperative, things like supporting a local economy, including a stronger local food system, is in line with the co-op’s mission.
“It’s just been continually growing. We definitely are interested in growing as much business as possible with local farmers,” said Benson.
In recent years, the co-op has expanded this support by: coordinating with farmers twice a year to plan crops and quantities needed for the season, paying fair prices for local produce, providing a stable market, training farmers in retail practices, guaranteeing farm loans and helping to finance organic certification.
Farmer Alan Haight from Riverhill Farm knows first hand the benefits of working with BriarPatch Co-op. The farm went from earning 80 percent of its income from weekly CSA subscription boxes in 2011 to last year earning 35 percent of its gross income from BriarPatch and the remainder from farmers’ markets and restaurants.
The greatest area of vulnerability to farmers is growing a perishable crop for an unspecified demand, says Haight. Small farms like Riverhill Farm cannot afford to grow crops they can’t sell all of.
Before the season starts, BriarPatch and the farmer make an agreement that BriarPatch will buy a particular crop a farmer grows if it meets the volume and quality standards set by the co-op
“This change has greatly benefited our farm financially, and has enabled us to specialize in crops that we grow well and for which there is strong demand. Whereas we used to grow between 40 and 50 different crops, we now get about half of our income from just three crops,” said Haight.
BriarPatch helps Riverhill connect with California FarmLink, to obtain yearly operational loans for annual startup costs at a time when there is nothing yet to sell.
“Each year, we spend almost half of our expenses between January and June, but because of our mountain climate, we only start selling crops in May. Without these operational loans, we’d be unable to afford the yearly spring startup costs,” said Haight.
Five to seven months out of the year, Farmer Tim Van Wagner of First Rain Farm sells to Briarpatch. He began selling to BriarPatch the first year they made a strong commitment to local farms. In those early years, Briarpatch offered an “advance payment” to First Rain Farm when it became certified organic, helping to “float” extra costs.
While BriarPatch represents only 10 percent of the farm’s total sales (he can get a better price at farmers markets), Van Wagner sees the value in having a stable outlet and check in return for crops with the greatest profit margin per volume such as: Dino kale, collards and rainbow chard.
“They have done a tremendous job at being very organized with their sales numbers by crop and making that information available to the farmers for planning purposes. As a result, we’re able to plan six months out on our crop schedules — resulting in very little waste of crop due to a lack of market,” Van Wagner said.
Here’s a recipe from Riverhill that uses some of the local produce bounty:
Tomato and Red Pepper Bisque
2 cups chopped white onion
3 cups chopped tomatoes
2 cups sweet red peppers (or mix in some Krimzon Lee peppers for a little spice)
Sauté onion until soft. Add peppers and sauté 5 minutes more.
Add tomatoes and cook on low heat for 30 minutes. Blend and add salt and a dash of red wine vinegar to taste.
To learn more, visit http://www.briarpatch.coop/
Contact freelance writer Laura Petersen at firstname.lastname@example.org or 530-913-3067.
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According to new research, a cup of hot chocolate could potentially contain 16 times more salt than is recommended by government guidelines.
A study by campaign group Consensus Action on Salt and Health (CASH) has revealed that only one out of 28 food categories are on track to meet Public Health England's (PHE) 2017 salt reduction targets.
Experts from CASH compared two shopping baskets filled with equivalent every day food but with differing amounts of salt. They found the difference between the two baskets was 57g worth of salt, equal to 11 teaspoons.
The research was carried out using the FoodSwitch UK app, which allowed researchers to scan barcodes and retrieve nutritional information.
They found the Galaxy Ultimate Marshmallow Hot Chocolate contains 2.5g of salt per 100g – that's 16 times more salt than the 0.15g per 100g maximum salt target for dried beverages.
According to CASH, the only food group currently on track to meet 2017 salt reduction targets are bread rolls, with both foods tested meeting the 0.9g per 100g target.
Under current government recommendations, consumers are told to eat no more than 6g of salt a day – but do you know how much salt the products in your shopping basket contain? Mark Salt Awareness Week 2017 by taking our quiz below to find...


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Listeners can now find more Australian radio stations than ever on Google Nest devices, thanks to the new integration of RadioApp, the Australian radio industry’s official aggregator radio app, further expanding Australian radio’s accessibility across digital devices.
Now, more than 350 Australian AM, FM and DAB+ digital radio stations, including all commercial radio, ABC and SBS stations, are available via voice command on Google Nest speakers and displays.
The partnership between industry body Commercial Radio Australia (CRA) and Google Australia has resulted in a simple, reliable and easy process for listeners to access live and local radio via Google Nest devices. As part of the integration, Google Nest smart device users only need to ask for the station or frequency they want to listen to.
“We have been working hard in partnership with Google locally and globally for the past 18 months to ensure that all commercial radio stations and DAB+ digital stations are easily available on Google Nest speakers and displays. There is great value for radio audiences in being able to enjoy their favourite local radio station on these devices using a simple voice request,” said Joan Warner, Chief Executive Officer of CRA. “It’s also good news for advertisers looking to invest in audio, as the growth in smart speaker ownership, and radio’s presence on these devices, strengthens radio’s position and reach.”
According to the Infinite Dial Australia 2020 study released by Edison Research, 85% of Australians have an awareness of smart speakers. There has also been an increase in smart speaker ownership, with 17% of Australians owning a device in 2020, up from 13% in 2019 and a leap from the 5% recorded in 2018. The Edison Research study also showed that, of the smart speaker brands available in the country, 82% of smart speaker owners in Australia have Google Nest devices.
“This new integration of RadioApp on Google Nest devices gives listeners easier access to their preferred local radio stations and favourite radio personalities, all with a simple voice command,” said Mel Silva, Managing Director of Google Australia and New Zealand. “After many months of collaboration with CRA, it is great to see the results of our partnership become available for Australian radio listeners and Google Nest owners — and by making this radio content discoverable, it will provide incredible value for local radio stations and advertisers too.”
A multi-layered promotional campaign highlighting the functionality will roll out over the coming months through on-air promotion and radio commercials, as well as online promotion via content on radio station websites, display advertising and the RadioApp website. There will also be a selection of popular radio personalities acting as on-air ambassadors to promote the initiative.
The RadioApp on Google Nest devices initiative has been developed by Commercial Radio Australia in partnership with Google and leading radio mobile solutions provider All in Media (AIM), a division of Xperi, Inc.


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APD offers tips to deter package thieves
Published 9:41 am Thursday, November 29, 2018
By NEAL WAGNER / Managing Editor
ALABASTER – The Alabaster Police Department is looking to prevent area residents from becoming the victims of “porch pirates” during a time of year when many locals are having packages shipped to their homes.
Over the past several years, many people have begun doing more shopping online, especially during the Christmas holiday season. Along with the rise in online shopping rates has come a greater number of unattended package thefts.
“We’re entering the biggest shopping season of the year. Unfortunately, this is also prime season for package thieves,” read a post on the APD Facebook page. “The Alabaster Police Department reminds you as you’re making online purchases over the next few weeks, follow these tips to avoid becoming the victim of package theft.”
Alabaster police have offered the following tips:
-Sign up for delivery alerts so you know when your delivery is scheduled – and when the package has been delivered.
-If you’re not able to be home when a package will be delivered, ask a trusted neighbor to hold it for you.
-If possible, require a signature for all deliveries.
-Consider shipping packages “to the store” option.
-Be a good neighbor! If you see a package on your neighbor’s doorstep, reach out and ask if they would like you to hold it until they are home.
APD is encouraging anyone who has packages stolen to first contact APD at 663-7401 and then check with neighbors to see if they saw anything suspicious.


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<unlike-us> next generation social media...
geert at xs4all.nl
Mon Sep 2 15:43:10 CEST 2019
The conclusion states:
It's difficult to see kids “graduating” from Fortnite and Roblox and moving on to traditional social media. A 2D scrollable feed of Instagram doesn't sound so exciting after having grown up in a 3D virtual world.
“There is something missing in conventional social media right now. We have social networks like Facebook, KakaoTalk, Twitter and Naver for communication. But they’re all based on text, pictures and movies. I think the next step is going to be having social experiences where you can get together with your friends in a virtual world, wherever you are,” — Tim Sweeny, Founder of Epic Games (Fortnite)
I think this is one of the biggest opportunities in consumer internet today. Building the virtual worlds and related tech people will use for everyday online communication in the future.
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What factors are driving sales of smartphones around the world?
The growth of mobile computing has led to higher sales of smartphones around the world. According to Gartner, total sales of smartphones globally are expected to decline in 2019 by 2.5% compared to the previous year. However, its report shows that total sales will still remain above 1.5 billion units. China is the largest smartphone market followed by India, the United States, and Brazil. The three market-leading brands according to a Gartner report for the second quarter of 2019 were Samsung, Huawei, and Apple. As per the report, during the second quarter of 2019, smartphone sales around the world totaled 368 million units. Samsung was the market leader with a 20.4% market share.
Even if smartphone sales have declined in 2019, their adoption has peaked and the market of related accessories itself is worth billions. There are several factors that have been driving the adoption and use of smartphones including people’s busier lifestyles, growth in channels of digital entertainment, digital well-being as well growth of mobile computing. The arrival of 5G is again expected to drive demand higher. From banking to e-commerce and entertainment, people use smartphones for so many tasks daily. For several, a smartphone is now a substitute for bulkier laptops and they use it even for managing business and office tasks. Moreover, companies are loading them with features that are known to increase people’s productivity.
Changing customer lifestyles:
Customers’ lifestyles are changing around the world. The proliferation of the internet has brought a large number of opportunities. However, busier lifestyles have also resulted in the growing use of mobile gadgets. The need to remain connected with others throughout the day has also led to the growing adoption of smartphones. These smartphones are our key to connectivity and whether it is telecommunication or messaging and other methods of connection, one smartphone serves all uses. Moreover, lives are complex and busier now not just in the developed world but also in the developing world. People need to stay connected on the go. Smartphones are the main method of connecting with family, friends, and businesses. Throughout the day, people reach instinctively for their phones for multiple tasks from shopping to banking and messaging.
People access a wider range of services online. These and other changes in their lifestyles are driving higher adoption of smartphones worldwide. Globally, digital technology is now a core part of people’s lives. Whether for digital well-being or digital entertainment, worldwide a large number of consumers rely upon smartphones to access information and entertainment. Thousands of lifestyle apps in Google Play cater to people’s health-related and other needs. Those who like reading can access books online using their smartphones. Large-screen smartphones serve a large variety of needs in people’s daily lives, which is also a reason that the popularity of large-screen smartphones is so high.
Online entertainment :
Previously, television and cinema were the main channels of entertainment for people. However, the number of entertainment channels has grown with the proliferation of internet technology. The arrival of 4G led to faster growth of online entertainment services. From social media to Netflix and YouTube, all of these can be accessed online through smartphones. 5G will further revolutionize the world of online entertainment. The number of streaming video channels has grown very fast. Apart from Netflix, Prime Video, and Hulu, there are more platforms that deliver on-demand videos including YouTube and which can be accessed online using smartphones. A large base of smartphone users now depends on online channels like Netflix and Prime videos for their daily dose of entertainment. Large-screen smartphones are now highly popular among online gamers.
The smartphone and tablet gaming market is growing at 20% annually and by the end of 2019, it is expected to be worth above £1.2bn. Moreover, the share of smartphones in this industry is above 80%. A large number of gamers start playing on their smartphones right at the time they wake up and several like playing games while they commute. Gaming is one of the core elements of digital entertainment. Online gamers like smartphones with higher processing power. While on the one hand, large screen phones with high processing speeds are good for gaming, the arrival of 5G could further boost the sales of online games. In this way, smartphones continue to remain the drivers of digital entertainment. A very large part of the global population continues to access its daily online entertainment using smartphones, which is driving higher smartphone sales and adoption.
Growth of mobile computing :
The growth of mobile computing has also led to higher smartphone use and adoption among people. There are thousands of productivity apps that are mainly targeted at increasing the productivity of professionals. Service providers like Uber use large-screen smartphones or tablets for using Google maps. Mobile computing has increasingly grown popular because of the convenience it offers. Everyone would not open a laptop to access social media, google maps, YouTube or browse the internet. Smartphones are easy to carry around and they have screens large enough to surf the internet or to stream online videos and use Google maps. Mobile computing offers higher convenience and helps professionals save time on ordinary tasks.
While people will still need laptops for larger tasks but they can still easily send emails and receive information or read documents on their smartphone screens. There are thousands of other productivity apps also which allow users to manage their finances, download and read documents as well as share information with other users. Several tasks that could earlier be accomplished only through laptops can now be completed easily using smartphones. Customers can now make payments at retail stores using their smartphones instead of cards. At least for shopping, browsing and banking or messaging, there is no need to open a laptop. The growth of mobile computing has made it easier for users to access a large variety of services while on the move. However, in terms of mobile computing, smartphones are the most preferred gadget for users.
Prices and availability :
Over time, the prices of large-screen smartphones have come down. Apart from the premium models which may be out of reach for the lower-middle-class consumers, there are several affordably priced models in the market with larger screens and 4G connectivity. The higher availability of such models has also led to increased adoption of smartphones. A large number of smartphone models are now available in stores or online at $300 or above. Moreover, customers do not always need to visit a physical store to buy a smartphone. They can easily purchase from authorized online resellers like Amazon, Alibaba or Flipkart. Higher availability and lower prices have also led to higher adoption of smartphones.
4G and 5G :
The arrival of 4G revolutionized the way how people accessed online services including entertainment and other services. America is leading the world in 4G technology. 4G has benefited the US economy in several ways like higher employment, higher domestic revenue as well as an increase in overall annual GDP. The advent of 4G propelled internet-based services into a new era. 4G proved to be a significant jump from 3G. With much faster download speeds, 4G made it a lot easier for the users to download or stream any stuff from the internet. Accessing the web, instant messaging as well as social media, and video calling are easier with 4G. It also allowed access to high-definition mobile TV.
So, 4G made the widespread use of mobile internet a reality and led to growth in demand for large-screen smartphones and 4G enabled devices. 5G is expected to make things even faster. While demand for smartphones has plateaued in 2019, it is expected to grow again in 2020 with the arrival of 5G. It could lead to an explosion of products and services that require blazing fast speeds. However, the demand for 5G enabled smartphones will also grow and online gaming could also take a significant jump. All these things indicate that 5G would prove to be a significant driver of smartphone demand.
Technological innovation :
Another key driver of demand for smartphones is innovation. Technological innovation is a source of competitive advantage in the smartphone industry. It is also a source of differentiation for brands. The sales of iPhone 11 were better than expectations and the main reason was the focus on technological innovation. Apple introduced triple cameras and A13 bionic chip with higher processing power. The result was that Apple had to ramp up production to cater to extra demand. Nowadays there are several smartphones available in the market that come with highly powerful cameras. Apart from performance, speed of processing, companies are also investing in bringing innovative cameras so customers like their models more than the rivals.
Companies are investing in research and development aggressively to equip their smartphones with improved features and to grow their customer base. Samsung, Huawei, and Apple are known to invest a lot in research and development. Google also keeps improving its Android OS which is used widely across smartphones. In this way, technological innovation is a significant factor that affects the demand for smartphones.


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The city of Da Lat is in its heydays with its 2007 Flower Festival running over December 15-22 with blooming flowers everywhere.
|Flowers in the streets of Da Lat (Photo: Thuy Hang)|
This year’s festival presents more diverse and large-scale activities than the previous festival, said organizers at a recent press conference.
Themed “Da Lat Flowers, I Love You!”, the festival opened in the evening of December 15 in a brilliant ceremony.
The event began with a parade of six giant cart wheels decorated in myriad flowers representing the city’s six most renowned flower villages before thousands of residents and tourists from all over the country.
The streets of Da Lat were soon crowded with spectators flocking to the city’s central square to watch 20-minute fireworks display in the sparkling night.
An international flower exhibition introduces the nation’s most famous flower-growing regions and showcases more than 5,000 native and imported species from seven other countries, including the Netherlands, China, Japan, the Republic of Korea, Thailand, Belgium and Denmark.
The show is an opportunity for more than 100 businesses from 24 provinces and cities across the country and foreign enterprises to exchange experience and present their products to partners. It is also a good chance to boost cooperation in the flower growing industry among participating nations.
Some 114 couples also tied the knot yesterday in a Flower Wedding themed “Journey to Happiness” in the Da Lat Sofitel Hotel. They exchanged rings, drank champagne, danced and kissed in an outdoor stage, forming a heart-shaped ring in the grass. (The reason the number 114 is chosen is that 2007 marks the 114th anniversary of the founding of Da Lat.)
|Flowers blossom around Xuan Huong Lake in Da Lat (Photo: Thuy Hang)|
Participants are also to be treated to a procession of cars decorated in flowers, a parade of contestants from the Miss Ethnic Viet Nam beauty pageant, and a gongs performance by 500 artists.
The special feature of this year’s festival is to be Miss Viet Nam Ethnicities 2007, the first beauty pageant for women from different ethic groups throughout the country.
As part of the festival, a wine party is to be held on December 20, offering participants more than 8,000 liters of wine free of charge.
Lam Dong Foodstuffs Joint Stock Co., Da Lat Beverage Joint Stock Company, Vinh Tien Company Ltd., and Cau Dat Tea Factory are to each supply 2,000 liters of wine.
Other activities are to include trade and cuisine fairs and bike and champagne festival days.


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The government could consider imposing a differential-subsidization scheme as a tax measure on sugar-sweetened beverages (SSBs) to reduce the risks of Filipinos’ becoming diabetic, according to renowned endocrinologist.
Dr. Robert Lustig, pediatrics professor at University of California San Francisco (UCSF), said the government could explore putting a higher levy on SSBs, with the collection from the sales of sugary drinks to be channeled to subsidies for drinking water. In this tax scheme, Lustig said, the government places a “win-win” situation for both Filipinos and the beverage makers.
“Therefore, people will be able to pay less for water and move toward water, which is good for them as opposed to sugar-based soda, which is bad for them. People will nudge toward water and away from soda because it is expensive,” Lustig told the BusinessMirror on the sidelines of a news conference recently in Makati City.
“The beverage makers wouldn’t care because they are the one also making the water. So, they will sell more water and the grocery stores will still make money. Because what do they care? Sales.” Lustig added.
Lustig, who is also an affiliate faculty of UCSF’s Institute for Health Policy Studies, said differential subsidization is a policy that they recommend to countries and governments that are in the midst of imposing tax measures on sugar-based products and other health-risking commodities.
“I think it would be a good idea, so that would be my suggestion,” he said. “I think it could [work] for [the Philippines] if the government supports it. I think it is very doable.”
Lustig said Nordic countries, including Sweden, Denmark and Norway, have imposed a differential-subsidization scheme to curb the increasing number of alcoholics in their respective countries.
The three countries collectively adopted two pieces of legislation: first, nationalizing the liquor stores resulting in same products sold at the same amount; second, taxing high-alcohol spirits and subsidizing low-alcohol beer with the income from high-alcohol spirits, according to Lustig.
“What they were able to do was to nudge the public away from the hard spirits toward the low-alcohol beer, thus, reducing alcohol consumption. They were able to get people to reduce their alcohol consumption, hospitalization went down, car accidents went down, cirrhosis of the liver went down and economic productivity went up,” he said. “And those policies are still in placed today.”
Under the proposed comprehensive tax-reform package of the Department of Finance, SSBs—including soft drinks, soda, flavored-carbonated or noncarbonated beverages, fruit drinks, sports drinks, sweetened tea, coffee drinks and energy drinks, among others—would be taxed P10 per liter.
According to Finance Undersecretary Karl Kendrick T. Chua, a tax on SSBs at P10 per liter is a health measure helping more Filipinos to switch to eating healthier products and for the manufacturers to create healthier food and beverage alternatives.
“Because this is a health measure, the objective really is to reduce consumption. Studies have shown that a 20-percent increase in price is sufficient or necessary to reduce significantly that consumption,” Chua said.
However, the Beverage Industry Association of the Philippines said the proposed taxes would only serve to unduly burden “those who can least afford such an increase, while achieving nothing of real significance to address the health angle it purports to target”.
Lustig said measures, such as taxation, dietary guidelines and blue laws are imposed to curb the ill effects caused by substances—parituclarly hedonic ones, including cocaine, alcohol and even sugar—to the society. Lustig added that among these measures, taxation is the easiest one to impose because it doesn’t cost much, but, at the same time, it is usually opposed by consumers, saying that it is “regressive” in nature.
“People don’t want to usurp the power of the market, but in case of hedonic substance, you have to. There’s taxes in tobacco, in alcohol, in all sorts that are bad for society‚ sin taxes if you will,” he said.
“Sugar makes the same criteria, therefore, we need to think about what makes the most sense. People say taxes are regressive against the poor, but diabetes is more regressive against the poor—the cost of taking care of diabetes [patients] far outstrips the cost of taxes,” he added.
Lustig said the imposition of taxes on SSBs is now a global legislative debate, as countries like United Kingdom, Australia, Saudi Arabia, South Africa are mulling over such schemes. Lustig said the Philippines is consuming approximately 70 grams to 75 grams of sugar per day, which is almost triple the 25 grams to 37.5 grams per day recommended consumption by the World Health Organization.
“Here in the Philippines, you are just behind us in terms of prevalence of diabetes. You now have 7.2-percent diabetes rate and 30-percent obesity rate in adults,” he said.
“You are a developing country, we are a developed country. We cannot afford our health-care crisis, which means you as developing country, cannot really afford this health-care crisis which is about to engulf you,” he added.
Citing data from the Eighth Philippine Natural Nutrition Survey (PNNS), Health Delivery System Inc. Medical Director Robert Castro said the country’s diabetes prevalence was pegged at 7 percent in 2013. Castro added that 3 of 10 Filipinos are overweight, based on the PNNS. “The prevalence of malnourished adults with age more than 20 years old since 1993 to 2013 has rapidly increased, from 16.6 percent in 1993 to 31.1 percent in 2013,” Castro said. Lustig visited the country to meet with some 700 Filipino medical practitioners, with whom he shared findings on several studies on fats, sugars and metabolic syndrome, organized by the Philippine Society of Endocrinology and Metabolism and the United Laboratories Inc.


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Marketers are selling products containing cannabidiol, or CBD, a chemical found in hemp, claiming benefits such as pain relief and stress reduction. But the actual effects are unclear, as is the legal landscape.
The new July point-of-sale data from BDS Analytics illustrates the short-term consequences of California’s adult-use cannabis regulations since Jan. 1, 2018. For example, there are 16 percent fewer cannabis brands on dispensary shelves since July 1.
Cura Cannabis Solutions, a startup that makes marijuana oil for vape cartridges, wants to be the first US company in the cannabis industry to achieve elusive "unicorn" status with a billion dollar valuation.


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BioMimetic Therapeutics ($BMTI) can claim a victory. An expert FDA advisory committee supported the safety and effectiveness of the Franklin, TN-based biotech's bone graft treatment for foot and ankle surgeries by a slim margin on Thursday.
The company still faces the agency's scrutiny in its pursuit of U.S. marketing approval of Augment. The product involves a synthetic protein and is intended to be an alternative to using a patient's own tissue, or an autograft, in surgeries to repair broken foot and ankle bones. The advisory panel voted 12-6 in favor of the safety of the firm's product, even after FDA staff raised red flags in their own review earlier this week that a synthetic protein might spur growth of existing cancer cells. The panel also voted 10-8 on both questions of the product's effectiveness and that its benefits outweigh its risks.
The committee's votes came with recommendations that the company conduct additional studies of its bone graft treatment. The Tennessean reported that one topic the advisory panel discussed was the question about the potential cancer-growth side effect from the synthetic protein used in the treatment. The intended effect of the protein, a recombinant form of human platelet-derived growth factor, is to spur the regrowth of bone tissue to repair breaks.
"It's reasonable to expect that there's going to be additional work required, but I think there's now a path to approval for the product," said Greg Wade, an analyst at Wedbush Securities in San Francisco, told The Tennessean.
BioMimetic seems unfazed by its slim margin of victory. The company said last night that it's building up its commercial capabilities, adding it has upgraded its anticipated number of independent salespeople for the potential U.S. market launch from 80-100 to 150-175. While the product was approved in Canada in 2009, an FDA approval would open the company to the $2.5 billion annual bone graft market in this country.


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Old tech is dead forever? Right? Wrong. Old tech finds a way of coming back again and again. Sure you can still throw out your PC from 1996, but I bet you a lot of the technology pioneered then is still present inside your computer today. Technology is iterative. Here are a few examples of what we’re talking about. Continue reading
For the vast majority of business the only mobile workers are the traditional model of the on-the-road ‘salesperson’ based out of a company car with a laptop and a phone while the rest of the staff are connected to desktop computers in the office. In recent years ‘mobile’ technology has advanced in leaps and bounds and for many business it no longer makes sense to have rows of workers chained to a particular workstation. Continue reading
Image Credit: neoterra
A computer LAN (local area network) is essential for connecting multiple computers within a specific area to the outside world. External connections are often made to the Internet, although for large organizations they can also be made to networks in other buildings, creating a “WAN” (wide area network). Continue reading
Within hours a terse reply had been dispatched across Ireland’s second city. In the memo, dated September 15, 2004, an E&Y partner explained that the company was not trading and, in any event, was not technically resident in Ireland for tax purposes. “In the circumstances, there is nothing to return from the corporation tax standpoint,” the bean-counter wrote.
The company in question was not some doomed venture established by a foreign investor on Ireland’s wild southern coast. Rather, it is one of the most profitable companies the world has known.
Nоt mаnу реорlе аrе aware thеу саn рrоtесt thеіr mobile рhоnе wіth аntіvіruѕ ѕоftwаrе. And thаt’ѕ partly because antivirus ѕоftwаrе іѕ associated wіth computers аnd рrоtесtіng them from оnlіnе threats. But thіngѕ hаvе сhаngеd thеѕе lаѕt fеw уеаrѕ, аnd mobile phone ѕесurіtу is nоw a hot tоріс in thе ѕесurіtу іnduѕtrу аnd рrеѕѕ. Continue reading
It was revealed this week that Britain has a new fastest-growing language being used by increasing numbers of people – emoji. It’s not a language as such, but just about every message that gets sent by mobile phone, email or social media includes some kind of smiley face, symbol or other animation which has its own meaning.


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Dbrand reveals new PS5 darkplates after pulling the original
Dbrand has unveiled a brand new design for its PS5 Darkplates a few days after the original sale.
If you’re not familiar with the original darkplates, they looked exactly like the PS5’s side shell, but instead of being white, they were matte black. While marketing the first version, the company lured Sony to “go ahead, sue us” and Sony issued a legal threat. Shockingly, just a few days after Sony was forced to pull the old version, DeBrand is already ready with a new design. The company says it has been in development since September, but will not conveniently tell us when Sony began a ceasefire and shutdown.
Darkplates 2.0 looks a little different than the original model. While they’re still attached to the sides of the PS5, the new Darkplates are more rounded rather than having a sharp, popped collar-look closely related to Sony’s console. (They now have a flagship vent next to the PS5’s wings.) The new darkplates come in three colors – matte black, “retro gray” and white.


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Adap.TV is a massive video network and exchange platform. By purchasing Adap.TV, AOL has given itself a tool that allows businesses to buy and sell digital ads in real time. In recent years, AOL have competed with Google and Yahoo for advertising revenue – Adap.TV and the platform’s capabilities will surely help them gain a stronger stake in this highly competitive market.
AOL is rich in its merger and accusations history, so it made sense when AOL bought Adap.TV for $405m. This acquisition is consistent with Tim Armstrong’s strategy of simplifying ad technology. It is said that Armstrong wants AOL to be an online advertising powerhouse and its well on its way to doing exactly that. With the appointment of Susan Lyne as CEO of AOL’s brand group, it’s a sign of things to come for AOL. Lyne has talents in aggressive revenue growth which is what AOL have been concentrating on in the last 3 years.
The video ad industry is expected to grow rapidly in the next 12 months with Facebook video ads coming this fall and companies like Viddyad making it easier for businesses and individuals to produce their ads. Online users will see a lot more video content in the next year but more significantly, they will see better quality content.
- AOL acquires video-ad platform Adap.tv for $405 million (bizjournals.com)
- AOL to Buy Adap.tv for $405 Million to Expand in Video – Bloomberg (bloomberg.com)
- All Thing Digital: AOL Makes the Biggest Buy of the Tim Armstrong Era: $405 Million for Adap.TV (allthingsd.com)
- AOL Is Acquiring Video Ad Platform Adap.tv For $405M (techcrunch.com)
- SCUTTLEBUTT: AOL Has Made A ~$400 Million Offer To Buy Adap.tv (AOL) (businessinsider.com)
- AOL buys video start-up Adap.tv for $405M, beats earnings estimates (gigaom.com)
- AOL acquires video ad-tech startup Adap.TV for a massive $405M (venturebeat.com)
- AOL Buys Adapt.tv In Armstrong’s Biggest Deal Yet (webpronews.com)
- AOL buys Adap.TV (viddyad.com)


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Hertsmere Safer Neighbourhood Team have set out their policing priorities for the next three months to ensure the borough remains a safe place.
In Radlett, this includes working to combat the theft of catalytic converters from vehicles by installing additional cameras in car parks. Officers will also be contacting the owners of more at-risk vehicles to provide tailored crime prevention advice.
Safer Neighbourhood Inspector Rachael Robertson said: “Thank you to everyone who took the time to provide their feedback on what they think we should be focusing on via our online public feedback service echo.
“While we do our best to speak to as many of you as possible while out on patrols and at engagements events, your online feedback is essential to ensure we’re focusing on the issues that are directly affecting you.
“We are working with partners, such as Hertsmere Borough Council, to install additional CCTV cameras in problem areas as well as increasing patrols and providing bespoke crime prevention advice to tackle the issues you have raised.
“Throughout the next three months, we will track our progress to ensure we’re making a real difference.
“In the meantime, you can continue to provide us with feedback using echo. Simply go to Hertsmere echo and have your say. It’s important to note that some comments we receive are about things that aren’t police matters, such as parking, lighting and litter; however, we do pass these comments to our partner agencies, such as Hertsmere Borough Council and Herts County Council, so that they are aware and can look to tackle them.”


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When I wrote about the recent venture capital investment in Lending Club a couple of weeks ago the Form 8-K hadn’t yet been filed with the SEC. This is a form that Lending Club must file whenever there is a “material event” that is significant to shareholders – such as a new round of funding.
Back in August last year Lending Club raised $25 million in funding that placed the value of the company at $275 million. This we know because it was publicized at the time by the Wall Street Journal. This time around Lending Club had no comment when I asked them about their new valuation with the recent funding round. So I had to wait until the Form 8-K was released last week.
A Valuation of $7 Per Share
Doing some simple math it is easy to calculate the new valuation. According to the 8-K filed for the $25 million investment last year Lending Club sold 7,027,604 shares which works out at around $3.56 per share. Now, the investment this month was $17.5 million ($15 million from Kleiner Perkins and $2.5 million from John Mack) and according to this latest 8-K there were 2,500,000 shares issued for that total investment. This works out at exactly $7 a share which is nearly double the share price from July of last year.
When you extrapolate the numbers it works out this way. If at $3.56 per share Lending Club was worth $275 million, it stands to reason that at $7 per share Lending Club is now worth around $541 million. That is one heck of a valuation for a company that is still operating at a loss every quarter. Clearly these new investors have tremendous faith in the business model and the ability of Lending Club to not just be profitable but to grow dozens or even hundreds of times bigger than it is today.
Is a Lending Club IPO Coming?
I have seen some chatter about this recently on various blogs and forums but I don’t think a Lending Club IPO is happening any time soon. I don’t have any inside information although CEO Renaud Laplanche has stated several times that they are in no hurry to go public.
One of the positive impacts on going public for Lending Club is that as a public company they would be able to offer their notes to investors in every U.S. state, not just the select 28 states available now for the retail platform. But even so, the additional cost burden of an IPO on a company that still has relatively small revenues I think would be too much right now. And with Lending Club awash in investor money the push to reach investors in all 50 states probably isn’t that strong anyway. If I had to guess I would say there will be a Lending Club IPO in 2014 or 2015 when the company is profitable and probably still growing fast.
Regardless of whether there will be an IPO any time soon, a $500 million valuation is nothing to sneeze at. It continues to give the industry more legitimacy and I am sure even the folks over at Prosper are pleased that Lending Club has attained such a high valuation.
Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.


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Back in 2018, one of our Voit brokers wrote an article stating that there was “no end in sight for the growth of the industrial market.” Boy, was he right…
Four years later, the industrial sector of commercial real estate continues to grow—and has even been thriving since the onset of the COVID-19 pandemic. But what does this trend of significant growth in this sector mean for business owners and CRE investors?
What is Industrial Real Estate?
Industrial space refers to any commercial property used specifically for industrial purposes. For example:
Industrial Real Estate is Hot
The industrial sector is and will continue to stay hot in 2022. In fact, in January, we wrote about how America’s warehouses are even running out of space.
Consider the space an e-commerce giant like Amazon might need. They require warehousing facilities to house their inventory in addition to space for shipping processes and outbound logistics. The ongoing growth of Amazon naturally propels big-box retailers such as Target and Walmart to up their game and stay competitive, which, of course, requires more industrial CRE for them as well. For those who are interested, read on to learn how Amazon growth is affecting commercial real estate in San Diego specifically.
In any case, industrial space has continued to boom throughout the pandemic, causing businesses to compete for quality industrial space. In fact, industrial vacancy rates hit a historic low of 3.6% in the third quarter of 2021 nationwide, according to Financial Times.
Research shows that in 2022, U.S. e-commerce sales will make up approximately 14.5% of total retail sales, or $709.78 billion. This percentage is expected to grow to 18.1% of all retail sales by the end of 2024, with online sales exceeding $1 trillion for the first time.
By 2025, U.S. demand for industrial CRE could reach an additional 1 billion square feet.
How Can Business Owners and CRE Investors Respond?
Naturally, this growth affects any individual, including both CRE investors and business owners, who want to break into the industrial space. Below are two ways these individuals may be able to take advantage of industry trends this year.
Interest rates are at historically low rates, which makes it a great time to refinance an industrial property.
This especially rings true for individuals who were granted loans through the Small Business Administration (SBA), as they’ve recently set an interim rule to incentivize refinancing its 7(a) loans to 504 loans.
Industry Today writes that these low-interest rates “extend to commercial real estate… There’s an opportunity to pull cash out of up to 20% of the property’s value, plus lower monthly payments.”
Moreover, they’ve estimated that there are $200 billion in outstanding 7(a) loans in this asset class that could qualify for the SBA refinance.
Opportunities for Acquisition and Construction
Business owners and CRE investors, of course, want to see appreciation in their investments. As we know, however, office space, retail, and hospitality (i.e. hotel) CRE have taken a beating throughout the pandemic. Warehouse and multifamily property, on the other hand, have overperformed.
Depending on location, and considering the current demand, the cost of industrial properties can be steep. In fact, research shows that the average cost per square foot for an industrial asset can be over $300 in a prime market, such as San Francisco.
Luckily, the SBA continues to cut fees and ease qualification standards to make their loans more inviting. This is a great financing tool to take advantage of if you’re looking to add industrial properties to your CRE portfolio.
SBA loans are making acquisitions and construction projects more feasible to pull off, considering the rising costs of goods and services (i.e. building materials). Other subsidies, like the SBA 504 Green Loan program, can also increase portfolio value, according to the previously mentioned Industry Today article.
A Final Word
It’s unlikely that industrial real estate will cool down anytime in the near future. This considered, interested borrowers need to learn how to differentiate to make themselves more attractive to lenders. One way to do this is by being able to conform to credit parameters.
Interested in learning more about the benefits of the industrial sector? Read on for eight reasons to invest in industrial real estate.


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WASHINGTON — Firms waiting for the Meals and Drug Administration to approve the advertising of cannabidiol (CBD) as dietary health supplements will have to carry on waiting. The Food and drug administration denied 3 citizen petitions trying to get regulations to allow the promoting of CBD in dietary supplements and mentioned it is ready to operate with Congress on obtaining a new regulatory pathway for the ingredient’s use, according to Janet Woodcock, MD, principal deputy commissioner of the Fda, said Jan. 26.
Her assertion arrived just after a team inside the Fda explored possible regulatory pathways for CBD goods and concluded rules will need to have to stability consumers’ drive for access to CBD products with the regulatory oversight essential to manage dangers. Scientific studies have revealed CBD probably could damage the liver, interact with certain medications and maybe hurt the male reproductive method, Dr. Woodcock reported. The Food and drug administration also discovered CBD exposure relating to in susceptible populations this kind of as kids and girls who are pregnant.
“A new regulatory pathway would gain customers by delivering safeguards and oversight to control and minimize dangers linked to CBD goods,” Dr. Woodcock stated. “Some danger management instruments could contain distinct labels, avoidance of contaminants, CBD articles limitations, and measures, such as bare minimum acquire age, to mitigate the hazard of ingestion by small children. In addition, a new pathway could give obtain and oversight for specified CBD-made up of items for animals.”
The petitions denied by the Food and drug administration came from the Customer Health care Products Affiliation, the Council for Liable Nourishment, and the Organic Merchandise Association.
CBD is uncovered in both of those hemp and cannabis, both equally of which are Cannabis sativa. The Agriculture Advancement Act of 2018, also recognised as the farm invoice, taken off hemp from the Controlled Substances Act, that means it could be developed commercially in the United States. The farm invoice described hemp as having less than .3% tetrahydrocannabinol (THC). Cannabis includes concentrations of THC at or above .3%.
The Fda nevertheless denies the use of CBD in foods, drinks and nutritional dietary supplements because it is in an Fda-approved drug referred to as Epidiolex. Provided readily available evidence, it is not obvious how CBD goods could fulfill safety specifications for nutritional health supplements or food items additives, Dr. Woodcock said.
“For example, we have not identified sufficient proof to identify how much CBD can be eaten, and for how extensive, in advance of causing damage,” she explained. “Therefore, we do not intend to go after rulemaking allowing the use of CBD in dietary health supplements or common foods.
“CBD also poses pitfalls to animals, and individuals could be unknowingly uncovered to CBD by way of meat, milk and eggs from animals fed CBD. Due to the fact it is not apparent how CBD products and solutions could fulfill the basic safety typical for substances in animal foodstuff, we also do not intend to pursue rulemaking permitting the use of CBD in animal food. A new regulatory pathway could provide obtain and oversight for sure CBD-that contains products for animals.”