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NYT > Business Day
Three elevator operators said in a complaint that their co-workers used threats of violence and racial slurs to try to drive them off the job.
Ilir Sela is building a national online delivery service, called Slice, focused on mom-and-pop pizzerias like the ones his family has owned for three generations.
Amazon has introduced dozens of private label goods in the past year, and is using the power of its global marketplace to steer shoppers to its own products.
The bank stress tests suggest Goldman Sachs and Morgan Stanley may end up with smaller stock buybacks. But the calculations are far from straightforward.
Buying a business out of bankruptcy might seem like a good deal, but it comes with risks. Heed this advice from others who invest in distressed assets.
A waterworks employee in Kobe, Japan, was fined and reprimanded after his bosses found he had been slipping out to order a bento box before his official lunch break.
The Trump administration has begun granting a handful of exclusions from its steel and aluminum tariffs, but the slow, opaque process still has nearly 20,000 applications waiting.
A federal appeals court dealt a final blow to a Labor Department rule that required financial professionals to act in their customers’ best interest.
The executive used the slur twice — the second time while talking with black employees who were helping him deal with the fallout from the first time he used it, a company memo said.
Business owners who are the targets of other nations’ retaliatory tariffs are worried now that President Trump’s offensive will wind up hurting them.
Our columnist Andrew Ross Sorkin and his Times colleagues help you make sense of major business and policy headlines and the power brokers who shape them.
The fortunes of the largest United States banks have changed remarkably over the past decade. So is it time to loosen regulation?
The shift effectively ends a deal that had more than doubled prices and raised revenues for oil producers, but that drew the ire of President Trump.
The head of the Consumer Federation of America said the increase was encouraging because those who check their scores know more about how the scores work.
With Chipotle trying its hand at new products, we offer a sampling of some of the more outrageous attempts at menu innovation by restaurant chains.
Known for a limited menu, the fast casual chain will begin offering five new food items that will challenge the chain’s reputation for efficiency.
Corporate income taxes have declined sharply for decades. Sharp increases have occurred mainly during major wars.
Glitchy enforcement of a new Facebook political ad policy is creating headaches for small businesses, news publishers, and other advertisers.
The aerospace giant said that the uncertainty surrounding Britain’s departure from the European Union could force it to consider leaving.
Micron, an American chip maker, says its designs were swiped to help a new Chinese plant. Washington sees a larger pattern, fueling tensions with Beijing.
Technology firms have built systems that governments find attractive, but staff at those companies are less enthusiastic about sharing their know-how.
A lab scientist at DowDuPont uses corn and sugar to develop fibers, then shepherds them to textile mills for mass production.
A nonprofit’s inbox is full of friendly but irritating emails from admirers who wonder if the organization might hire them. Here’s how to point them in the right direction.
The European counterattack, a response to U.S. measures on steel and aluminum, adds another front to a trade war that has engulfed allies and adversaries around the world.
This week, tech companies weighed in on the separation of children from their migrant parents at the Mexico border. Here’s why tech has become more activist.
States are getting more authority to collect taxes on e-commerce sales. That will hurt consumers and retailers, but probably not Amazon.
Between the Trump administration’s steel tariffs, the reinstatement of sanctions on Iran, and political chaos, Italy is again struggling economically.
This year, the travel packages and programs targeting the L.G.B.T. community are increasingly more introspective, philanthropic and activist.
The White House is eyeing tariffs on luxury imports such as perfume, handbags and wine. It might be drawing the wrong lesson from past trade fights.
The show was canceled last month because of the star’s racist tweet. A version of the series will return in the fall. Working title: “The Conners.”
Departing from a 1992 decision, the justices said that even without a physical presence in a state, businesses can be required to collect taxes there.
European leaders agreed to a plan that would finally take Athens off financial life support, effectively declaring an end to a crisis that nearly wrecked the euro.
The list of carry-on limits airline passengers can carry in their cabin baggage on international flights will soon include powdered material, the Transportation Security Administration has announced.
Mr. Krzanich, who resigned after violating Intel’s “non-fraternization policy,” will be replaced on an interim basis by the company’s chief financial officer.
The Italian fashion retailer known for its provocative campaigns repurposed two photos from a charity’s rescue operation, and even an anti-immigrant Italian minister weighed in.
The first round of the Fed’s annual stress tests found banks are prepared to withstand a downturn, which could presage big shareholder payouts next week.
In a 7-to-2 decision, the Supreme Court said that the Constitution required the commission itself rather than staff members to appoint the judges.
A new report from the administration is a laundry list of complaints about Chinese efforts to support favored industries — but not a strategy for America to foster its own, economists say.
The French behemoth, known for its perfumes, handbags and double-C logo, reported strong sales growth and rising investment. But that it published at all was a surprise.
Low-speed torque and whisper-quiet operation make electric vehicles an attractive alternative for commercial uses, and the incognito answer to Teslas and Bolts.
Emissions of methane, a powerful greenhouse gas, are 60 percent higher than government estimates. That’s bad news for climate change.
The conviction and sentencing of the former C.E.O. of Anglo Irish Bank adds one more member to an exclusive but disgraced list.
The family businesses of President Trump and Jared Kushner ended two New Jersey hotel collaborations. Ethics watchdogs had taken aim at their dealmaking.
The Supreme Court’s decision to expand states’ ability to tax e-commerce sales hurt many online sellers. Except for the big one.


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Good morning. This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning
Boris Johnson marked England’s so-called Freedom Day by announcing emergency plans to exempt crucial workers from self-isolation rules that are causing economic and social disruption.
The prime minister’s decision to lift most Covid-19 restrictions was accompanied by an announcement that additional policies — such as requiring double vaccination to enter nightclubs — would be introduced in September.
Pub groups Wetherspoon and Young’s, the restaurant company Fridays and fast-food chain McDonald’s offered limited promotions yesterday to lure back customers.
But in central London, many stayed at home, stymieing the recovery of restaurants, theatres and cinemas. The FT View is that businesses need clarity on…

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Independent Distillers adds new RTD variantBy Kristiane Sherry
Asahi Group-owned Independent Distillers USA has added a new Washington Apple flavour to its ready-to-drink (RTD) Twisted Shotz line.
As with all Twisted Shotz drinks, Washington Apple is a combination of two liqueurs – in this instance, Sour Apple and Canadian Whisky – presented in a double-chambered shot glass.
The new flavour variant was introduced locally in the Pacific Northwest last year and became the brand’s “hottest selling flavour”.
Following the launch, Washington Apple was rolled out nationally from March 2016.
Twisted Shotz is available in both 4-pack formats and 15-shot party combinations. The RTD is offered at 20% abv with an SRP of US$4.99-$5.99 per 4-pack.
Independent Distillers is the fourth largest producer of RTD beverages. Its core products include Twisted Shotz, Double Barrel and On The Rocks.


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ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Sue Herera and Bill Griffeth.
BILL GRIFFETH, NIGHTLY BUSINESS REPORT ANCHOR: Turnaround Tuesday. Stocks rebound and have their second best day of the year after the Fed chair says it`s ready to act to keep the economy growing.
SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Fire and ice. Why the hottest part of real estate might just have the coldest property.
GRIFFETH: Going under ground. A Chinese subway carmaker is making inroads here in the U.S. but some lawmakers are sounding the alarm. We`ll give you a look inside the company, what it means for American jobs and even national security.
All that and much more tonight on NIGHTLY BUSINESS REPORT for Tuesday, June 4th.
HERERA: Good evening, everyone, and welcome.
Stocks surged to their second best day of the year with all the major indexes rising 2 percent. The catalyst: the Fed. More on that in a minute, and a perceived ever so softening of tone in trade tensions. The Chinese Commerce Ministry said that the friction between the two sides should be dealt with through talks.
With that, investors were in a buying mood. The Dow rose 512 points to 25,332, the Nasdaq climbed 194, wiping out yesterday`s loss, and the S&P 500 added 58.
Bob Pisani gets things started for us tonight.
BOB PISANI, NIGHTLY BUSINESS REPORT CORRESPONDENT: Stocks started and ended in rally mode after six straight weeks of declines and a volatility session yesterday. The Dow surged more than 500 points, having its biggest one-day gain since January 4th.
There were a combination of reasons. First, Federal Reserve Chairman Jay Powell said that the Fed is closely monitoring trade and it would act appropriately to sustain the economic expansion. All of this helping deflate some of the negative sentiment that`s built up in the last few weeks.
Also, easing trade tensions. We`ve got some positive comments from China`s Commerce Ministry that trade disputes should be resolved with talks, as well as some hopes for resolving the Mexican tariff, even Republicans were considering a vote to block President Trump`s tariffs on Mexico.
Not surprisingly, the sectors that have been the most oversold on this trade war is the transports, the semiconductors, metals and mining, retail, they all bounced the most today. In fact, retail had their best day in five months and that doesn`t mean the sector is done fueling results of tariffs.
If you really want to see the effect of a trade war on stocks, look what happened to Tiffany (NYSE:TIF). They had earnings today, the company noted same-store sales were down 4 percent which they said was due to far fewer Chinese tourists visiting the United States.
A lot of damage elsewhere has already been done. So big transportation stocks were down, double digits this quarter on these concerns about slower global growth.
For NIGHTLY BUSINESS REPORT, I`m Bob Pisani at the New York Stock Exchange.
GRIFFETH: Now, in addition to Chairman Powell`s comments, there was more Fed speak today about what the president`s economic policy might mean for the Fed`s monetary policy.
Steve Liesman is in Chicago with more tonight.
STEVE LIESMAN, NIGHTLY BUSINESS REPORT CORRESPONDENT: Two top Fed officials speaking in Chicago today suggested that coming new tariffs from the Trump administration could change monetary policy.
Here`s what Fed Vice Chair Richard Clarida told CNBC in the interview.
RICHARD CLARIDA, FEDERAL RESERVE VICE CHAIR: Today, the tariffs that have been put in place in the economy have had a small effect in the aggregate and I think the others would agree with that consensus as we move ahead and we consider potentially more tariffs and potentially retaliation, that potentially has a more noticeable effect on the economy and we would have to take that into account.
LIESMAN: Clarida said tariffs are not necessarily inflationary because the prices only go up once and stay that way. So, he said he`s more inclined to address how tariffs can weaken growth.
The Fed Chairman Jerome Powell also said the Fed would act if it needs to.
JEROME POWELL, FEDERAL RESERVE CHAIRMAN: We do not know how or when these issues will be resolved. We are closely monitoring the implications of these developments for the U.S. economic outlook and as always, we will act as appropriate to sustain the expansion with the strong labor market and the inflation near the symmetric 2 percent objective.
LIESMAN: Market saw this is all potentially good news, not only did stocks rally sharply, but the chance of a Fed rate cut shot up 60 percent. Some traders took a flyer out of a possible June rate cut.
Well, that seems early but the idea that the Fed is headed for at least one rate cut as a result of tariffs looks like a good bet after these Fed officials spoke.
For NIGHTLY BUSINESS REPORT, I`m Steve Liesman in Chicago.
HERERA: President Trump was in London again today meeting with outgoing Prime Minister Theresa May. On the agenda, Brexit and you guessed it, trade.
Willem Marx has more from London.
WILLEM MARX, NIGHTLY BUSINESS REPORT CORRESPONDENT: After all of the pomp and pageantry at Buckingham Palace Monday night, it was time to talk politics on Tuesday morning as President Trump traveled to meetings in Central London apparently prepped to do business.
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Our nations have more than $1 trillion invested in each other`s economics. The United Kingdom is America`s largest foreign investor and our largest European export market. That`s a lot of importance.
As the U.K. makes preparations to exit the European Union, the United States is committed to a phenomenal trade deal between the U.S. and the U.K.
MARX: Theresa May was one of the first world leaders to meet with the newly inaugurated President Trump, and he will be the last world leader to visit her here in her office in number 10 Downing Street. She`s failed to get her Brexit deal through the British parliament three times. She looks to be trying to position the U.K. for a favorable trade deal with the U.S.
TRUMP: I think that this is something that your folks want to do, my folks want to do and we want to do and we`re going to get it done.
MARX: The transatlantic work day began at this breakfast roundtable with business leaders with the special relationship in attendance. The conversations about economic Cooperation then continued over lunch at the prime minister`s official residence.
MARX: While nearby, thousands of protesters jeered the president`s presence in the British capital.
And at a joint press conference at a soon to be ex-prime minister, the U.S. leader brushed off criticism and insisting that a longstanding intelligence deal could survive Britain`s decision to use Huawei equipment in its new 5G network.
TRUMP: We`re going have absolutely an agreement on Huawei and everything else. We have an incredible intelligence relationship and we will be able to work out any differences. I think — we did discuss it.
MARX: Trump also confirmed his intention to impose tariffs on Mexico starting next week.
TRUMP: I think it is more likely that the tariff goes on and we`ll be talking during the time that the tariffs are on and they`re going to be paid.
MARX: For May, her British counterpart, who has paid a steep political price for her failure to talk around her opponents, there were doubtless some relief that the president`s words for her have remained relatively warm.
For NIGHTLY BUSINESS REPORT, I`m Willem Marx in London.
GRIFFETH: And tariffs are top of mind in Toyota (NYSE:TM) right now. The automaker reportedly has told its U.S. dealers the new tariffs on Mexican imports that President Trump has threatened could cost that company`s major suppliers between $200 million and $1 billion. According to an email seen by “Reuters”, Toyota (NYSE:TM) pointed out that 65 percent of its Tacoma pickup trucks sold in the United States in 2019 will be imported from Mexico.
HERERA: And those higher costs on autos could also trickle down to the consumer in a way that probably has not been given much thought — your insurance coverage.
Contessa Brewer explains.
CONTESSA BREWER, NIGHTLY BUSINESS REPORT CORRESPONDENT: When a driver crashes his or her car, it goes to a repair shop and a bill sent to the insurance company. Among the most commonly replaced items, windshields, and their prices are up 10 percent because of tariffs.
STEVE KALAFER, FLEMINGTON CAR & TRUCK COUNTRY CHAIRMAN: Countries don`t pay tariffs, consumers do.
BREWER: Steve Kalafer owns nine car dealerships with service centers in New Jersey. He`s seen costs for auto parts soar.
KALAFER: The real burden is going to be on the consumer. They don`t have a choice to fix a car. The car will either work or not. So, if you have this part and you have a 25 percent tariff increase, that part had cost $200? Bingo, $50 more.
BREWER: Last year, the U.S. imported $158 billion in auto parts and tariffs are now driving insurance prices higher.
DAVE SNYDER, PCE OF AMERICA VICE PRESIDENT: With automobile insurance, we are already paying increased costs for replacing or repairing motor vehicles as a result of the China tariffs.
BREWER: An estimated $3.4 billion in additional insurance payout, now, President Trump promises 5 percent tariffs on Mexican imports starting Monday and that they`ll keep going up as long as illegal border crossings are an issue.
Mexico is the largest source of imported car parts, accounting for almost $60 billion or nearly 40 percent of imports last year. Car insurers are bracing for as much of a $5 billion impact, depending on how high the Mexican tariffs go.
And then there are the secondary costs. Whether a car is repaired or totaled depends on the cost to fix it. More expensive parts means more cars considered totaled. Replacement vehicles are also more expensive because of tariffs and mechanics lose the repair business.
Finally, the tariff may disrupt the supply chain or cause shortages apart.
SNYDER: It means consumers can`t get their cars repaired as quickly as they otherwise would, which means they have to have rental cars longer.
BREWER: And just one additional rental car day adds a half billion dollars in cost. Who picks up that tab? You might think insurance companies, but insurance is a pass-through industry. Increased costs are passed on in the form of higher premiums. Just one way tariffs create a bumpy ride for everyone.
In Flemington, New Jersey, Contessa Brewer, NIGHTLY BUSINESS REPORT.
GRIFFETH: Up next, the hot trend, investing in cold.
(BEGIN VIDEO CLIP)
DIANA OLICK, NIGHTLY BUSINESS REPORT CORRESPONDENT: Cold is the new hot in real estate. That`s why I`m standing in front of a giant freezer unit. I`ll explain coming up on NIGHTLY BUSINESS REPORT.
(END VIDEO CLIP)
HERERA: The growth of e-commerce has increased demand for warehouses exponentially but one small subset of that real estate sector is really heating up even though you might not describe it that way.
Diana Olick is here to explain. She`s in Jessup, Maryland, tonight.
OLICK: Cold is hot if you`re in the warehouse business, that is. Cold storage warehouses and distribution centers are suddenly in high demand.
SPENCER LEVY, CBRE SENIOR ECONOMIC ADVISOR: It is the pea pod. It is the Amazon (NASDAQ:AMZN).
OLICK: It`s the new food delivery services driving it literally from the warehouse to your home. Small now, but growing quickly.
LEVY: It`s a variation of about 2 percent or 3 percent of all goods and groceries are bought online, and we expect the space could explode as much as 13 percent over the next five years because of the penetration of the Internet.
OLICK: It is also the farm to table and organic trend. Fewer preservatives in food require more cold storage.
MICHAEL CARROLL, RBC CAPITAL MARKETS DIRECTOR: Change in consumer preferences is that they want to eat more fruits and vegetables and less processed foods. So when you have fruits and vegetables they need to be flash frozen and transported throughout the country to the end user, and that is definitely taking an uptick in demand for this space.
But while mainstream warehouse construct is growing, there is still a limited supply of cold storage real estate that makes it much more valuable.
CARROLL: If you look at the capacity in the major market, there`s really not much.
OLICK: Americold is the only publicly traded temperature-controlled warehouse owner in the U.S. today since going public last year. Its stock is, well, on fire.
LEVY: So we`re seeing a lot more investors come into the space and when I say investors there are the dedicated real estate investors that only buy the five major food groups and many of them say, gee, I will do the niche sectors like cold storage.
OLICK: Because as the grocery segment grows, the perishables are poised to profit and so are those investing in really cold properties.
For NIGHTLY BUSINESS REPORT, I`m Diana Olick in Jessup, Maryland.
GRIFFETH: Uber and its ride-sharing rival Lyft get a lift from Wall Street today and that`s where we begin tonight`s “Market Focus”.
Nineteen firms initiated coverage today on Uber`s struggling stock with analysts saying it`s a buying opportunity for their clients. Meanwhile, Citigroup (NYSE:C) initiated Lyft as a buy. The bank likes the company`s concentrated focus here in the U.S. and in Canada. Uber shares rose more than 3 percent today to $42.75. Lyft shares were down a fraction to $59.17.
French automaker Renault is now delaying a decision on the potential merger with Fiat Chrysler after an activist hedge fund wrote to Renault`s board opposing the deal, saying that the proposed $35 billion transaction favors Fiat Chrysler too much. Fiat stock rose nearly 4 percent today to $13.33.
HERERA: Box shares fell following last night`s results which showed slightly better than expected earnings but a week of full-year revenue outlook. The cloud software company blames longer than expected duration of closing deals with new larger clients and that often comes with longer sales cycles. The shares dropped more than 4 percent to $17.18.
Bemis (NYSE:BMS) will swap places with toymaker Mattel (NASDAQ:MAT) and joining the S&P 500, while Mattel (NASDAQ:MAT) will join the S&P mid-cap 400. The move will be effective before trading opens on Friday. Bemis (NYSE:BMS) fell a fraction to $57.20. Mattel`s stock jumped on a licensing deal for the Hello Kitty brand, rising 12 percent to $10.78.
After the bell, salesforce.com beat estimates thanks to an increase of customers to its flagship sales cloud business. The company also raised its full-year guidance. The stock initially rose in after hours trading and closed the regular session up nearly 4 percent to $150.81.
GRIFFETH: The U.S. oil market managed to eke out a gain today with the apparent easing of trade tensions. Domestic crude settled at $53.49 a barrel after a month-long losing streak that threatened to push prices into bear market territory, meaning a decline of 20 percent or more off its most recent highs.
Joining us for this outlook, John Kilduff from Again Capital is back with us here.
I mean, this slide we saw during the month, this was more about the expectation of slower growth around the world. So demand, theoretically, we go down. Is that the idea?
JOHN KILDUFF, AGAIN CAPITAL FOUNDING PARTNER: That`s right. The damage from the U.S.-China trade war on the Asian economies across the board, Bill, really put a damper on the outlook for crude oil and gasoline and diesel fuel demand as we look forward. You have Korea flirting with going into recession — South Korea, that is. Japan can`t get out of its own way, all of the import, export numbers really disappointing and a month in and month out for China, for Japan and for South Korea.
KILDUFF: And Germany, too, is the other big loser because that`s their biggest market, the Asian market, the Germans. So, all those are the key energy demand centers, they are taking the biggest hits, oil is taking hit from this.
HERERA: But it comes when Iran has sanctions on it, so we`re not seeing oil from that part of the world. And in addition to that, we have Venezuela, which is in a political crisis. So, it`s kind of an interesting juxtaposition.
KILDUFF: There is a remarkable complacency in the oil market right now. Part of it is the difference-maker has been the United States` rise to become the number one oil producer in the world. Our 2 million barrels a day is almost acting like a firewall against what would have been really hideously frightening developments in the oil market like clamping down in Iran, like basically losing Venezuela`s oil output as I just mentioned.
GRIFFETH: So, where do we go? Aare we going back to those lows we saw late year, do you think?
KILDUFF: Well, Saudi Arabia is working hard to curtail production and output and trying to hold together the OPEC group and Russia to cut supplies to the market. It should have something of a stabilizing factor. Obviously, we`re still in a very dangerous neighborhood and anything can happen at any time if the Iranians do act out and they are getting squeezed mightily right now, Bill, then we would be in a different kettle of fish.
But I think for now, the low that we hit this week, around $52, will probably hold. It does mean sub $2 gasoline for a lot of folks. Fifty is the number to watch. I don`t think we`ll get much below that.
GRIFFETH: All right.
KILDUFF: Again, the problem is that all of the geopolitics can rear their ugly head.
HERERA: Oh, yes.
GRIFFETH: It happens.
Thanks, John, as always.
KILDUFF: Thank you.
GRIFFETH: John Kilduff with Again Capital.
HERERA: More collateral damage in the tread dispute between the U.S. and China.
ROBERT FRANK, NIGHTLY BUSINESS REPORT CORRESPONDENT: Pawns in the trade war, the fate of nearly 360,000 Chinese students who study in the U.S. now under threat as China issues a warning, coming up on NIGHTLY BUSINESS REPORT.
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GRIFFETH: The trade dispute between the U.S. and China is now spilling over to tourists. The Chinese government has warned citizens traveling to the U.S. about harassment by Chinese tourists with law enforcement, for example, at points of entry, and a second warning was issued highlighting the risks of shootings, robberies, and thieves.
HERERA: And the Chinese government also issued yet another warning to its students and as Robert Frank tells us, it could cast a chill on one of the most important economic drivers for U.S. universities. He`s at NYU in Manhattan.
FRANK: The Chinese government hitting back against the U.S. yesterday with a warning to the more than 360,000 Chinese students studying in the U.S. China`s ministry of education saying students are having trouble getting visas to come to the U.S. and that they should, quote, strengthen their risk assessment.
Chinese students contribute up to $14 billion a year to universities and colleges across the country and since they paid full fare, universities have become highly dependent on those dollars which also help subsidize U.S. student tuition, but there are signs that students and their money are shifting to Australia, Canada and the U.K., which are more welcoming. With U.S. companies becoming more reluctant to hire Chinese grads, especially for sensitive tech and engineering jobs, a U.S. degree no longer means a path to a job.
ESTHER BRIMMER, NAFSA EXECUTIVE DIRECTOR AND CEO: It`s helpful for the U.S. to have people in China who understand the United States, and people in the United States who understand China. We`re going to have to deal with each other for decades to come. It is much better that we know each other well and that we don`t use students as pawns in some larger issue.
FRANK: Here at NYU which has the largest number of international students in the country, there are nearly 9,000 from China. Costs and tuition here can run up to $72,000 a year, and NYU also has a campus in Shanghai. So, like many universities, they`re hoping that the trade war ends quickly.
For NIGHTLY BUSINESS REPORT, I`m Robert Frank in New York City.
GRIFFETH: And finally tonight, the tensions between the U.S. and China has put a spotlight on the world`s biggest rail car manufacturer. It`s a Chinese company and its bidding on contracts in some of the biggest U.S. cities right now. So for some, this is an example of the balancing act between economics and national security.
Ylan Mui takes us inside the company`s factory in Springfield, Massachusetts.
YLAN MUI, NIGHTLY BUSINESS REPORT CORRESPONDENT: These are the newest rail cars for Boston`s iconic rail system, the T.
So, this train is almost ready to go.
VINCE CONTI, CRRC BUSINESS ADMINISTRATION DIRECTOR: Yes.
MUI: They run along half a mile of test track here in Springfield, Massachusetts. The first one is scheduled for delivery this summer. But Washington wants to hit the brakes because the company that makes them is from China.
REP. PETER DEFAZIO (D-OR): CRRC is state-owned. The communist government of China owns the company.
MUI: CRRC is indeed owned by the Chinese government and it is the biggest manufacturer of trains in the world and our cameras got a rare look inside its first factory in the U.S.
CONTI: This is the shell as we receive it from China. And then from there, the components over here are what we`ll be installing.
Interior lining is primarily the Chinese, the wall panels and the air ducts and things. And we have a door system, for example, from Vapor which is in Plattsburg, New York.
MUI: In addition to Boston, CRRC has also won contracts with Philadelphia, Chicago and Los Angeles, totaling more than $2 billion.
JIA BO, CRRC LIMITED PRESIDENT (through translator): CRRC understands that the United States is a growing market in this industry and also it is the third biggest industry globally. The United States is a market that provides the most fair (ph) operation and the most full competition.
MUI: The critics of the company say it isn`t playing by those rules, and they say because it`s backed by Beijing, it could offer these cars for half the price of the competition.
SCOTT PAUL, ALLIANCE FOR AMERICAN MANUFACTURING PRESIDENT: It`s bidding on them at impossibly low prices. Ultimately, this is going to be less competition for transit commuters and for transit agencies which will mean it`s going to be a worse deal at end of the day.
MUI: In Washington, lawmakers on both sides of the aisle are sounding the alarm, calling the company a threat to national security.
REP. SAM GRAVES (R-MO): China in particular possesses sophisticated capabilities and it does have a track record of creating economic espionage.
REP. ALBIO SIRES (D-NJ): I really do believe that while we sleep, this country`s plotting.
MUI: And proposing a ban on doing business in America.
REP. HALEY ROUDA (D-CA (NASDAQ:CA)): The purpose of the bill is directed to make sure that American tax dollars are not used to support businesses from China that are being subsidized by the Chinese government.
MUI: At the factory, the company says it`s creating U.S. jobs, hiring unionized workers, buying U.S. materials and even paying U.S. tariffs, and it says that passengers have nothing to fear.
CONTI: Safety, number one. Functionality, but safety is most important.
MUI: For NIGHTLY BUSINESS REPORT, I`m Ylan Mui, in Springfield, Massachusetts.
HERERA: Here`s a look at the final day`s numbers on Wall Street. The Dow rose 512 points to 25,332. The Nasdaq climbed 194, wiping out yesterday`s loss, and the S&P 500 added 58.
GRIFFETH: And that is the NIGHTLY BUSINESS REPORT for tonight. I`m Bill Griffeth. We do thank you for watching and we`d like it remind you that this is the time of year your public television station seeks your support.
HERERA: I`m Sue Herera. We thank you very much for that support. We`ll see you tomorrow.
Nightly Business Report transcripts and video are available on-line post broadcast at http://nbr.com. The program is transcribed by ASC Services II Media, LLC. Updates may be posted at a later date. The views of our guests and commentators are their own and do not necessarily represent the views of Nightly Business Report, or CNBC, Inc. Information presented on Nightly Business Report is not and should not be considered as investment advice. (c) 2019 CNBC, Inc.
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Expedia reported third-quarter earnings this week and Vrbo was a bright spot for the company this year offsetting a steep dive in hotel and airline bookings.
Vrbo’s contribution to Expedia limited the decline of lodging revenue to 52%. According to the company’s earnings release, “revenue per room night benefited from an increase in the percentage of room nights contributed by Vrbo, which has a higher revenue per room night than the rest of our lodging business.”
Expedia’s 58% drop in room nights stay was offset by a 14% increase in revenue per room night. The product mix shift to Vrbo boosted ADRs, up 8%, due to solid ADR growth at Vrbo which carries significantly higher ADRs than hotels.
On its earnings call this week, Expedia CFO Eric Hart noted that year-to-date, Vrbo is down. Vrbo took a major hit in the spring during the early days of Covid. Vrbo was up before Covid and up since early spring.
Management believes the bump in alternative accommodations relative to the other lodging categories is short-term. Covid drove a preference for alternative accommodations and Vrbo benefited from this rising demand. They expect the alternative accommodation category to normalize once travel picks up.
Vrbo provided the necessary lift for Expedia and as important, brought in new customers. Vrbo had its strongest month in June, followed by a strong July, but the business has subsided since the summer peak.
Vrbo continued to be quite strong, coming off that June high which was a lot of pent-up demand. But the third quarter was strong. We were up year-over-year. And we think it bodes well both because we brought in a lot of new customers and we believe those customers will have long-term value for us. And we’re – it’s helping to land the Vrbo brand and making people more familiar with it.Peter Kern, Expedia CEO
The company attributes a Vrbo slowdown in the 3Q and 4Q to seasonality.
Vrbo is much more seasonal than the rest of our business. So it’s concentrated in the summer months. So we would naturally expect to see it come down into Q3 and into Q4, and that is what we’re seeing. It continues to be at healthy rates and continues to be a product that I think consumers, in the environment that we’re in particular, find compelling to be able to continue to travel.
So you can think about our – the normal travel seasonality of looking in the early part of the year to stay in the middle part of the year and then less activity in the latter part of the year, just magnified in Vrbo relative to the rest of travel.Eric Hart, Expedia CFO
Vrbo and Airbnb Diverge in Their Post-Covid Outlook and Strategy
It’s clear from Expedia’s latest earnings call that Vrbo and Airbnb have very different visions of the future post-Covid.
Airbnb is capitalizing on the quickly-growing remote working trend to drive more bookings through its platform. The company is pushing a new vision, “working from any home”, moving beyond the company’s brand identity of “belonging anywhere” that focuses on travel and the global community.
Vrbo has been marketing staycations, capitalizing on the current strong remote working trend. Unlike Airbnb, Vrbo sees it as short-term demand that will go away with Covid.
A lot of the advertising and marketing we’ve been doing with Vrbo have to do with sort of Staycations, if you will, in North America where kids may not be going to school, people may not be going to work. Sort of take your life somewhere else, and we think there is opportunity to break some patterns, while this going on. But that is just a COVID-centric issue.
Airbnb sees a long term behavior shift from the pandemic. It has put forward a vision of the future driven by increased mobility, not just in travel but living. Airbnb is positioning its business, even evolving its brand DNA, to reflect this new vision. Vrbo, under the Expedia umbrella, sees a post-pandemic future that is not too different from the past, a return to the norm as a slice of the travel lodging pie.
Airbnb and Vrbo are very different businesses – always have been – despite operating in the same sector.


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A new Phasmophobia update 0.3.1.2 is now available to download on PC (Steam). According to the official Phasmophobia patch notes, the latest hotfix resolves issues related to missing localisation for Turkish. Apart from this, today’s Phasmophobia patch 0.3.1.2 also includes a exploit fix.
Previously, a big game update was released with various performance improvements. Recently, a hotfix 1 was also released.
Unfortunately, players are experiencing various issues with the game. Today’s Phasmophobia patch 0.3.1.2 will fix a few of these issues. Read full details below.
Phasmophobia 0.3.1.2 Hotfix – September 30, 2021
- Fixed a bug where you would crash if you got kicked
- Fixed a bug where the video cameras screen would turn green if they were placed on the belt
- Fixed a bug where DOTS projectors and glow sticks would affect sanity drain
- Fixed an issue where flashlight would roll away when thrown
Phasmophobia 0.3.1.2 Patch Notes – September 29, 2021
- The anniversary decorations have been removed and the music on the boom box will now default to off.
- Updated a lot of missing localisation for Turkish.
- Addressed a exploit where you could point lights up at ceilings to prevent your sanity draining
- Fixed a bug where the journal case number was being increased by the amount of players in the game
Download free Phasmophobia patch 0.3.1.2 on PC (Steam).


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When it comes to all-in-one (AIO) desktop systems, there are plenty of options out there. However if you wanted an AIO system that could also double as a massive drawing tablet, then you might be interested to learn that Microsoft has officially announced the Surface Studio 2, which Microsoft is claiming to be the most powerful Surface device they’ve ever built.
For those unfamiliar, the Surface Studio has been designed to look like an AIO system, but at the same time it has also been designed to have its display lie flat on the tablet at an angle which allows users to use it as a drawing tool, or they can also use it for collaborative purposes where people can gather around it and check out presentations, videos, and more.
Naturally Microsoft has made improvements to the device from its predecessor, namely in its display which Microsoft claims is 38% brighter and with 22% more contrast and before. They are also claiming 4,096 levels of pressure for its display, 50% more graphics power thanks to the use of a new NVIDIA chip, along with a 2TB SSD.
Oddly enough Microsoft has opted to use a 7th generation Intel Core processor, which while no slouch, doesn’t sound particularly attractive on paper since many other devices have started adopting 8th gen Intel processors. There is no word on when the Surface Studio 2 will be launched, but it is expected to be priced starting at $3,500.


text: Ulster Bank customers in NI and RoI had a tough time of it in June 2012. Since the 20th June, the subdivision of RBS experienced a computer system error, which saw 100,000 customers across Ireland encounter problems when trying to access the money in their accounts, including the delay of wage and benefit payments. During tough economic times, there is only so much that consumers can bear. The Belfast Telegraph noted on the 29th June 2012 that rival operator Northern Bank has experienced a increase in the number of enquiries from Ulster Bank customers wishing to switch their accounts; to capitalise on the trend, Northern Bank launched an advertising campaign targeting consumers who are keen to switch to an alternative bank. The campaign includes full-page newspaper advertisements that highlight the bank’s Saturday opening hours, as well as its dedicated account switching team. Consumer attitudes to Northern Bank’s Advertising Mintel’s recent report Attitudes to Advertising – Ireland, May 2012 notes that some 38% of NI and 45% of RoI consumers claim to pay attention to newspaper and magazine advertising, making this the second most effective method of advertising behind television (with three-quarters of Irish consumers paying attention to TV advertising). (Toluna 2012) However, advertising via the internet may be a more effective means of targeting consumers looking to switch their accounts. The forthcoming Mintel report Irish Lifestyles – Ireland, June 2012 notes that around half of Irish consumers manage their finances online in 2012, while approximately a third of consumers also use the internet to seek out information on financial advice (via bank websites and price comparison websites). (Toluna 2012) The Attitudes to Advertising – Ireland, May 2012 report further notes that readership levels of newspapers in NI and RoI have declined in the last decade, giving advertising via this medium less pull. Moving forward, it is likely that many banks and financial institutions will concentrate more of their advertising expenditure on online media, with advertising displayed on financial advice websites likely to become prime advertising space. You might also be interested in: No related posts.


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Innovative Women Inspire
Photo Credit: Pipeline Workspace
Pipeline Workspaces and Crea7ive, an interactive creative advertising firm, hosted another edition of their Women in Entrepreneurship Series on October 29, 2014 which featured innovative women in Miami who, through challenges and triumphs, have pushed through to be a model for our thriving entrepreneurial ecosystem.
Fashion Inspires More was honored to be a community partner by helping to spread the word and assemble the panel, featuring our esteemed Board Member and Founder & CEO of Flat Out of Heels, Dawn Dickson. We were also thankful to be in the company of other women like Co-Founder of Code Fever, Felecia Hatcher, Owner of Blo Blow Dry Bar, Fatima Lalani, and panel moderator for the evening Founder & CEO of DiversiTech, Christine Johnson, who inspired us all through candid stories of their beginnings and outlook on the future.


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DriverNet. com has announced that its ScanNet document-scanning service is now available for use 24 hours a day at more than 150 truckstops. The company says it will have its scanners set up at 400 locations across North America before the end of the year.
ScanNet machines, housed in DriverNet.com computer kiosks, enable drivers to quickly scan documents, review the resulting electronic images on a screen, and send them to their company's computer network. As they complete each scan, drivers receive a copy of the scanned document with a printed confirmation of the scan.
The data arrives in the fleet computer as electronic "tif" files, instead of as packages of paper. According to DriverNet.com, the electronic images will integratedirectly into back-office imaging systems fleets may have.
"As a result, carriers can improve their receivable collection times and also pay drivers faster, which is a significant lift for driver retention," says Gary Klusman, vp-operations.
Truck dealers can post an unlimited number of trucks and trailers for $249/mo. at TruckTraderOnline (www.trucktraderonline.com). Each listing, which can be edited and updated at any time, can include a full spec sheet and up to six color pictures, as well as a dealer logo.


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Google has released a test build of the Android P operating system, according to a blog for developers.
It was planned that the new Android will present on March 14. The new version of the system is currently available only for devices Pixel (own brand Google). According to Ars Technica, the next Android will not support smartphones Nexus 5x and Nexus 6P, as well as the tablet Pixel C.
The Verge lists some of the innovations of the next version of Android. In particular, the function of setting the display interface is available in the system, which, among other things, makes it possible to manage the space on the sides from the front notch. This is useful for manufacturers of smartphones with "monobrow".
The first gadget with "monobrow" was the iPhone X, in February, Bloomberg reported that Google plans to add support for its OS cutout at the top of the display. As noted by The Verge, this is not the only similarity of Android P with Apple products. For example, notifications about new messages are similar to iMessage.
There is no name for a new Android. As a rule, Google gives the name of the operating system by the names of sweets. The latest version of Android is called Oreo, the previous one is Nougat.
. (tagsToTranslate) Android (t) Google (t) (t) à (t) Verge (t) ÿ (t) Nexus (t) à (t) é (t) ò (t) ë (t) é (t) è (t) Bloomberg (t) ó


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The answer for the most part is no. Many shoppers are not changing the way they shop for holiday gifts because of the downturn in the economy. Some consumers even say they are shopping even more because of the bargains stores are having.
"The economy hasn't affected us much. We haven't really adjusted our spending, we spend a little more this year than last year actually because of the sales," said Christenna Ritter of Abilene.
While shoppers like Christenna say they will continue shopping and buy the gadgets, electronics, and toys their loved ones want, some consumers are saying the needs this year are more important than the wants.
"We are focusing on the things the kids need instead of just what they want like toys, " said Angela Ingalls of Abilene.
Kayla Ingalls, daughter of Angela Ingalls says the economy has taken away some of her Christmas presents, vacations, and road trips and sums up the economy, "it will get worse before it gets better."


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SAIL Achieves Sales Growth of 10% in November 2013
OREANDA-NEWS. Backed by a renewed thrust on marketing, Steel Authority of India Limited (SAIL) achieved total sales of 9.7 lakh tonnes in November 2013, registering a 10% growth over same month last year (SMLY). The company accelerated its export sales, with shipments to the tune of 61,000 tonnes during November 2013, representing a three-fold growth over SMLY. Cumulative exports of 3.2 lakh tonnes in April-November 2013 were up 72% on year-on-year basis.
Keeping pace with its modernisation and expansion plan (MEP), Chairman SAIL Mr CS Verma recently witnessed commencement of production from the rebuilt Coke Oven Battery #2 in SAIL Durgapur Steel Plant (DSP). Rebuilt at a cost of Rs 213 crores, this battery will play a vital role in the MEP of DSP, aimed to augment the capacity of saleable steel from the present level of 1.60 MT to 2.12 MT.


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As automation adoption continues across supply chains, robotics suppliers and systems integrators are partnering and consolidating. Material handling integrator Hy-Tek Holdings today said it has acquired Advanced Handling Systems LLC, or AHS. The merged company now operates as Hy-Tek Material Handling LLC. Terms were not disclosed.
“Hy-Tek’s acquisition of AHS broadens our offerings as the predominant player in material handling and integrated systems,” said Sam Grooms, CEO of Hy-Tek Holdings. “With AHS robotic solutions, Hy-Tek delivers cutting-edge technology that optimizes fulfillment, speeds distribution, and addresses labor shortages within a challenging supply chain. Committed to growth through acquisitions, Hy-Tek always is looking for best-of-breed companies to join our team.”
Erlanger, Ky.-based Advanced Handling Systems offers integration services with a focus on robotics for materials handling. The company has two facilities in the U.S. and employs about 90 people.
AHS has worked with suppliers including Caja Robotics, Exotec Solutions, Mobile Industrial Robots, and Waypoint Robotics (now part of Locus Robotics).
Robot suppliers and integrators join forces with Hy-Tek
Hy-Tek Holdings is a portfolio company of Dunes Point Capital LP (DPC). DPC is a family office and private investment firm, pursuing controlling investments in companies operating in the general industrial and business services sectors. DPC targets companies with enterprise values of up to $1 billion.
Columbus, Ohio-based Hy-Tek said it serves clients in markets including e-commerce, third-party logistics (3PL), and parcel. The company claimed that it is “the premier single-source provider of material handling solutions for a wide range of industries including manufacturing, distribution, retail, construction, food, electronics, and automotive.”
Hy-Tek Material Handling LLC is a combination of Hy-Tek Material Handling, WorldSource, BP Controls, and AHS. Hy-Tek said that it and its industry partners — including manufacturers of industrial equipment, conveyor systems, automated storage and retrieval systems (ASRS), racks, and shelving — have been providing turnkey systems to customers large and small since 1963.
Hy-Tek has worked to deploy supply chain automation with GreyOrange and Kindred Systems and their customers.
From customized handling and storage systems to pre-assembled buildings and off-the-shelf products—Hy-Tek said its team of engineering, sales, operations, and project management professionals can help enhance productivity, streamline processes, and boost profitability.
With over 500 employees, Hy-Tek serves customers in the U.S., Canada, and Mexico from offices in Georgia, Illinois, Kentucky, New Jersey, Ohio, Pennsylvania, and Tennessee.
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In a blink of eye, 2019 has come and gone, bringing with it waves of exciting changes and trends in the food and beverage industry. From zero-waste restaurants to plant-based proteins that bleed — mind-bogglingly — like meat, 2019 has been a ripe year for emergent food trends. We invite seven F&B industry insiders from across Singapore, Hong Kong, Macau and Taiwan to tell us what caught their eye in 2019.
1. More conscious diners
“Our diners are increasingly interested and concerned with what they consume, particularly whether it has been ethically sourced and sustainably produced,” says Wee Teng Wen, founder of the Lo & Behold group in Singapore, which runs three-MICHELIN-starred restaurant Odette and MICHELIN Plate restaurant Esora.
This is also a trend echoed in the wine industry where increasingly health-conscious consumers are putting their money where their mouths are. Bernard Chan, head sommelier of three-MICHELIN-starred Lung King Heen has observed a worldwide uptake in wines and champagne with low sugar content. “Fine-dining restaurants have also started serving low ABV (alcohol by volume) wines as an option and this has trickled down to many more eateries and is increasingly well-received by consumers around the world,” he says.
2. Green is the new black
The rise in conscious diners has led to a huge push in the industry to step up in terms of environmental sustainability, Wee adds, giving examples of the Lo & Behold restaurant group’s efforts such as increasing vegetable-forward dining options and plant-based proteins, doing away with single-use straws and sourcing for eco-friendly disposables for takeaways.
“The top food trend for this year that I was happy to see was around sustainability and air miles. We seem to be moving to a stage where homegrown vegetables and fish is becoming a viable option for restaurants. Quality and variety are finally meeting hype and we are close to a tipping point here where restaurants can reliably tap local producers for some of their produce,” says Loh Lik Peng (pictured right), founder of the Unlisted Collection group which owns a stable of MICHELIN-starred restaurants in Singapore including Basque Kitchen By Aitor, Burnt Ends, Nouri, Cheek Bistro and two-starred Zén.
3. Looking beyond meat
The sidelining of meat-based proteins from a starring role to the supporting cast became more prevalent in 2019, as plant-based diets and alternative proteins became commonplace. "Seeing Burger King adopt Impossible Meat shocked me a little, but I think it’s the start of a big movement," says Loh.
The embrace of plant-based meats across the culinary spectrum was something that pleasantly surprised assistant vice president of F&B at the MGM Cotai in Macau, Sammy Wu, a 28-year F&B industry veteran as well. “I was glad to see plant-based meats become popular in Hong Kong, Macau, Taiwan, Singapore, Thailand and many other Asian countries this year with Western restaurants using things like Impossible Meat and Chinese restaurants using Omnipork to create more innovative types of vegetarian dishes.”
Frank Liu (pictured left), owner of MICHELIN Plate restaurants Orchid and Monsieur L in Taipei observed that more and more global diners are starting to turn to plant-based diets for health reasons, rather than religious ones. “These are the people that are concerned about ecology, sustainability, how to shorten the distance from food production to table. Because of this, more restaurants are moving towards meat-free dining and zero-waste.”
4. Specialty shops and restaurants
“What we’re seeing in Hong Kong are more specialty shops that focus on one item, such as artisanal coffee, yakiniku or tempura,” says Hidemichi Seki, chef de cuisine of two-MICHELIN-starred Tenku Ryugin.
The trend has taken root in Taiwan, too. “In the past year we’ve seen more and more Southeast Asian food brands hitting the Taiwanese market specialising in dishes like bak kut teh (pork ribs soup) and Hainanese chicken rice,” says Henry Tseng, CEO of the Hersing Culinary group that brought MICHELIN-starred restaurants such as Tim Ho Wan and Hawker Chan to Taiwan. He also pointed out the popularity of Japanese nama shokupan, a fresh milk bread, in Taiwan this year, as a trend to watch, along with the rise of specialty coffee roasters and brewers. “There will be more and more choices for Taiwanese consumers – it won’t just be Starbucks anymore,” he says.
5. More global chef collaborations and exchanges
“There have been more events and chef collaborations happening, and this makes for a lot of interesting food conversations and it makes the restaurant industry a lot more fun,” says chef Seki of the Hong Kong restaurant landscape. In Taiwan, Liu has observed that the dining scene has become more dynamic since the launch of the MICHELIN Guide two years ago. “There are many important F&B forums are being held in Taiwan now; more guest chefs are visiting Taiwan, and more chefs are coming here to open restaurants, allowing local produce to shine alongside their restaurants.”
In the next part of the story, these seven industry insiders will share the five trends they are most looking forward to in 2020.


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With Commercial Tax Checkposts Gone Post-GST, Truck Drivers Never Had It So Good
How implementation of GST is making life easy for lorry drivers on India’s national highways.
Jaspal Singh is in a hurry trying to deliver machinery parts to Ashok Leyland’s Hosur unit in Tamil Nadu that he has brought from Mumbai. But he manages to spare a couple of minutes to say how the implementation of the goods and services tax (GST) has helped him.
“We don’t need to waste much time at (commercial) checkposts after July 2017. Now with the introduction of e-way bill from April, things are more smooth,” says Singh starting his truck at the Hosur Regional Transport Office (RTO) checkpost.
Singh had left Mumbai on 26 May and on 28 May morning, he was in Hosur. “Before GST, it would take five days to a week coming through various check posts,” he says as he drives away to the nearby Ashok Leyland unit.
The National Democratic Alliance (NDA) government led by Narendra Modi launched the goods and services tax (GST) – an indirect levy system – from 1 July 2017 as a unified tax system to save the people from different taxes levied by the central and state governments. Before 1 July 2017, the taxes levied on a particular product differed from one state to another, making it necessary for each state to put up commercial tax checkposts on the borders to ensure the due taxes were paid to respective state governments. This affected inter-state transport movements. With the ushering in of the GST, the inter-state movement of goods has been made easy with these checkposts being dismantled.
“Hassles for us have come down after the introduction of GST,” says V Kumaresan, transporting engineering goods from Karnataka to Sivakasi. “Now, we only stop at RTO checkposts to stamp entry permits. It takes hardly a minute. We definitely save a couple of hours after the checkposts have been closed,” he says.
A local “all-in-all” driver K Kumar has interesting insights on how things have changed since the GST was implemented last year. “I drive school vans, mini-vans, vans and trucks, depending on what other party needs. I have driven up to the border in Kashmir. It takes nearly 10 days to go from Hosur to the border but now with GST, we are able to save at least two days,” he says.
Earlier, trucks could be held up at the checkposts even for days. “There have been instances when trucks had been held up at the checkposts for 20 days when there was problem with the paperwork. One wrong entry and we are in for big trouble. It could be the TIN number or some other thing,” says Kumar, adding that the commercial tax officials always had some error to point out.
“Now, goods are not loaded until the bills raised by the buyer and seller match. That way, there’s some safety,” he says. Pointing out at the closed checkpost at Hosur, he says at one point of time, this was crowded and vehicles would queue up. “All that is past now,” Kumar says.
But there are a couple of fallouts. One is that small vendors who did business when the trucks queued up aren’t getting the same response. “Some known drivers come and still take food from us. Others, it depends on the time of the day when they pass through this place. But certainly, business is down by half,” says R Muruganandam, a vendor near the closed Hosur checkpost. Drivers say that they find these wayside food vendors useful since eatables are cheap and they don’t need to undergo the agony of people staring at their stained clothes at restaurants.
Kumar has an interesting tale on some difficulties for the truck drivers post-GST. “Almost all our vehicles have General Packet Radio Service (GPRS) and the owners keep a tab on the truck movements. If they find the vehicle has stopped, then they call up the driver and question them why it has halted,” he says.
The GPRS monitoring and GST implementation are indirectly contributing to check the spread of Human Immunodeficiency Virus (HIV). “With GPRS tracking and no hold-up at checkposts, these drivers cannot visit commercial sex workers, who usually are found at these places,” says Kumar.
This is an encouraging development since India ranks third among nations with most number of HIV carriers.
The scenario with regard to truck movements on Tamil Nadu-Karnataka border is no different on the Karnataka side too with the Attibele checkpost totally deserted.
D Viswanathan, a truck driver for 30 years, who is part of a team transporting onions from Nashik to Madurai, says things have improved since July last year. “Driving from Maharashtra to Tamil Nadu, you know the number of checkposts we have to cross. Now, time and money are saved. From Maharashtra, we are definitely saving at least two days,” he says.
While, no doubt, a lot of time is being saved, Viswanathan says lorry owners are saving at least Rs 500 per checkpost that has been closed now. “There are various expenses of truck operators that are being saved now. There are at least eight checkposts from Tamil Nadu to Maharashtra. And there have been instances when drivers themselves would take the owner for a ride by asking a colleague to tell that it had been held up as the authorities were seeking bribe. In that way, drivers can’t mislead the owners anymore,” he says.
V Anbazhagan, transporting eggs from Namakkal in Tamil Nadu to Bengaluru, says depending on the hour of the day, truck drivers are saving time. “If I come to the checkpost early in the morning, I would spend nearly 20 minutes to half an hour at the checkpost. If it is later in the day, it could be one hour or two hours,” he says, adding that at the Walayar check post on Tamil Nadu-Kerala border there have been instances when he has spent one full day waiting for clearance to enter Kerala.
“Importantly for me, I need not bother about demands made on me by these checkpost guys. Once (before July 2017 ) a checkpost inspector asked for 10 eggs that I was transporting. I told him that I cannot give since I had to account for each and every egg in my truck. So he inserted a sharp rod in the consignment that damaged an entire tray of eggs saying he wanted to make sure the consignment contained eggs. Then, he added I would learn a lesson now,” Anbazhagan recalls.
Truck drivers say there are random checks by the authorities to ensure there is no foul play. “We are not bothered or scared of these checks because we have the necessary papers and documents,” says Kumaresan.
With the Centre implementing the GST from July 2017 and e-way bills becoming a reality from April this year, truck drivers are heaving a sigh of relief from all the hassles they had to undergo earlier. Time and money are being saved in this move of the Modi government and barring a few, there aren’t major complaints.
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World Business Briefing | Africa: South Africa: Aveng Shares Plunge
Published: January 6, 2004
Shares of Aveng Ltd., the construction company, had their biggest drop in more than nine months after the company said first-half profit might fall as much as 30 percent. The stock dropped 49 cents, or 5.4 percent, to 8.51 rand ($1.30), its biggest fall since March 24. It earlier dropped as much as 10 percent. ''Shareholders are advised that the interim results for the period to Dec. 31 are expected to be materially lower than that of the corresponding period,'' the company said in a statement. Aveng said on Oct. 31 that the appreciation of the rand and weaker revenue from projects abroad would weigh on earnings. The company, based in Johannesburg, gets 40 percent of its sales from abroad. The currency climbed by 28 percent against the dollar last year. The company will report first-half earnings on March 8.
Graph tracks Aveng's share price for last week.


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Axel Arigato is reinventing footwear—one step at a time.
Legler speaks to ABC News Australia after completing an artist residency in Sydney
Dolce & Gabbana have been saying hateful things about same-sex parents for a decade. What's different this time?
The designer returns to his roots in the Motor City
The cult series is the subject of a major new exhibition opening at Museum of the Moving Image.
Should Gigi Hadid, Kobe Bryant, or Zoë Kravitz take home the award?
Iris, Albert Maysles' last documentary, premieres in theaters April 29
Puma teams up with Alexander McQueen on a collection of playful sneakers for spring
Jump into spring with Out market editor Michael Cook's favorite H&M pieces
Ben Stiller and Owen Wilson get back in character at Paris Fashion Week


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kazade84 writes: Over the weekend the Elementary team released the stable version of Elementary OS, codenamed "Luna" which is based on Ubuntu 12.04. The new OS features an entirely custom desktop shell called Pantheon which has been developed from scratch using Vala and Gtk+ which allows for fast apps with a small memory footprint. Elementary OS has been years in the making, and the team have documented the process in their latest blog post.
"An idealist is one who, on noticing that a rose smells better than a
cabbage, concludes that it will also make better soup." - H.L. Mencken


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Elizabeth A. Harris wrote this really interesting article in the New York Times, Millions of Followers? For Book Sales, ‘It’s Unreliable.’
|Screen shot of the New York Times article, featuring a photo of Billie Eilish|
In it, Elizabeth explores both how publishers have been basing their publishing bets more and more on social media followings, and yet the evidence of book sales isn't aligning in the way those publishers expected.
The article opens with:
A book by Billie Eilish seemed like a great bet. One of the most famous pop stars in the world, Ms. Eilish has 97 million followers on Instagram and another 6 million on Twitter. If just a fraction of them bought her book, it would be a hit.
But her self-titled book has sold about 64,000 hardcover copies since it came out in May, according to NPD BookScan, which tracks most printed books sold in the United States — not necessarily a disappointing number, unless Ms. Eilish got a big advance. Which, of course, she did. The book cost her publisher well over $1 million.
The full piece is well-worth reading, and it's a reminder for all of us that racking up social media followers isn't necessarily going to lead to racking up the book sales.
Illustrate, Translate, and Write On,


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Countywide : Every Cord Counts in Buying Firewood
People crave a crackling blaze in the fireplace during the holiday season.
“As the holidays approach it becomes a ‘thing’ in Southern California to have a fire because it’s the closest thing you can get to holiday spirit around here,” said Martin Cobbs, an inspector with the county’s Weights and Measures Division.
Cobbs cautions, however, that when buying wood, every cord counts.
A cord is the standard measurement used for stacked wood, equaling 128 cubic feet.
State law requires that firewood be sold by the cord or in fractions of a cord.
But many consumers, unaware of the law, are vulnerable to being shortchanged, especially by part-time wood sellers also unfamiliar with measure requirements, Cobbs said.
In November, at least six people complained to county officials that they had not received the amount of wood that they had paid for and in December several more people called in to complain, he said.
The division will investigate dealers who have not delivered the proper amount of wood, but it helps if the consumer has stacked and measured the wood before paying for it, Cobbs said.
One hundred twenty-eight cubic feet can be measured by stacking the wood to match dimensions of eight feet in length, four feet in height and four feet in width, Cobbs said.
“We’ve had problems in the past with people not knowing what the cubic footage is,” Cobbs said. “If they don’t know they’ll never check.”
The division does not control the price of wood, which varies depending on the dealer and the wood type.
Some wood sellers list a cord of oak at about an average of $200, eucalyptus at about $160 and avocado at about $110.
Oak and eucalyptus wood is harder in texture and burns slowly, producing more heat.
Avocado is much softer and generally is used by people who burn a fire for aesthetic reasons, said Jim Kenton, who has been selling firewood for 18 years as a sideline to his tree-pruning business.
“If it’s stacked . . . it’s not hard to figure out,” Kenton, owner of Sunrise Tree and Property Maintenance, said of the measurement requirement.
Georgine Ryan, owner of Gold Coast Firewood, added that the law keeps merchants honest.
“I would prefer that people would get what they paid for,” she said.


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No matter what you need, Oxbox gets the job done.
Indoor Air Coils
DAVIDSON, N.C. – Feb. 12, 2019 – Ingersoll Rand (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, today announced the launch of Oxbox™, a new line of affordable, durable residential heating, ventilation and air conditioning (HVAC) equipment for single- and multifamily replacement and homebuilder markets in North America.
What goes into creating a new line of cooling and heating products? We spoke to Brian Steckroth, Oxbox Portfolio Leader, to get his insights.
Q: What was the spark for Trane creating the Oxbox brand?
A: I think the easiest way to describe it comes down to Ingersoll Rand’s theme at the recent International Builders’ Show in Las Vegas, “Comfort Solutions for Every Home.” With Trane and American Standard, we’ve been covering the needs for premium and mid-grade HVAC solutions comprehensively for decades.
Your Oxbox product warranty is activated automatically—but there’s an advantage to registering your product. Get the details here.


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The Australian Federal Court has dismissed an appeal by Apple against the Australian Registrar of Trademarks that it has ownership over the term "App Store".
The judgment, delivered in Sydney on Wednesday by Justice Yates, stated that the term "'App Store' must be taken as not being capable of distinguishing the designated services as Apple's services", and that therefore its trademark application must be rejected.
Apple first took the registrar to court in March 2013, after the "App Store" trademark's initial acceptance in July 2008 was rescinded before actual registration could occur. The decision by the Trade Marks Office at the time stated that Apple's App Store did not offer anything to differentiate itself from the services provided by the app stores of similar companies, as required under Section 41(5) of the Trade Marks Act.
Apple appealed the decision,, with the trial set to take place in the Federal Court in Sydney from November 18, 2013.
In November 2013, Justice Yatesabout the semantics of the term "app store", and whether it necessarily invokes Apple or Apple products.
Apple argued in December 2013 that in 2008, when Apple began using the App Store in conjunction with the launch of its iPhone, the term "app"with the products that Apple was offering.
Justice Yateson December 5 last year, before making a definitive ruling on December 3, 2014.
In 2011 in the US, Apple launched a similar lawsuit against Amazon over its use of the term "app store", as Amazon uses the term "Appstore" to sell its services. However, Apple in July 2013.
"With more than 900,000 apps and 50 billion downloads, customers know where they can purchase their favourite apps," Apple said at the time.
"We no longer see a need to pursue our case against Amazon."


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Target will soon stop selling the Amazon Kindle line of e-readers and tablets, the retailer confirmed Wednesday.
Target representative Molly Snyder said the company, which began carrying the Kindle in its physical stores nearly two years ago, is "phasing out Kindles and Amazon- and Kindle-branded products in the spring of 2012." Tech blog The Verge was the first to report the news, citing a leaked internal Target memo.
Target (TGT, Fortune 500) declined to comment on the specific date that Kindles will disappear from its shelves. The Verge's memo pegged May 13 as the last day for Kindle shipments to Target stores.
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WATER charges for many Irish businesses are set to increase from today.
A change to the charging system will see an increase for more than half of businesses.
The other customers will see their amounts fall due to the changes.
The new system was originally planned to roll out in May 2020 but was delayed following the onset of the Covid-19 pandemic.
The non-domestic tariff framework will impact just over 164,000 businesses, farms, charities, public bodies, social enterprises and other non-domestic customers.
“The new tariff framework announced by our economic regulator, the Commission for Regulation of Utilities goes live on the 1st of October and will provide certainty for businesses and their representative groups,” said Irish Water’s Head of Customer Operations, Yvonne Harris.
“Irish Water understands the continued challenges faced by businesses; our aim is to ensure that every business across the country is provided with a clear, transparent, equitable charging regime regardless of location.”


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This Indonesian Start-up Helps Students Finance Their Purchases
Google Launchpad Accelerator start-up Cicil extends financial inclusion to students
PHOTO CREDIT: Getty Images
In the world of financial technology, consumers may often associate the field with PayPal-like platforms that can serve everyone from small businesses to individual consumers.
Cicil, which is based out of Indonesia and was recently accepted into the Google Launchpad Accelerator program, goes in the opposite direction. The fintech platform goes after a niche, and one often ignored by other players: college students.
“My co-founder Edward and I met during our studies, and we realized that there was a large unbanked student population in Indonesia. Given that we were students ourselves, we set out to help solve this problem,” says co-founder Leslie Lim.
Cicil extends financial inclusion to students who don’t have credit cards but still want to purchase something with financing. Through Cicil, students can buy a premium item they need, such as a printer or laptop, without owning a credit card.
The user journey on Cicil is simple. Users pick the item they want to finance, along with their ideal payment plan. They then fill out a registration form on Cicil and get a response within two business days. Once approved, users must then make their installment payments every month and are reminded by Cicil when their plan is near maturity.
“A lot of times the upfront cost of school laptops or tablets are very expensive, so students have to save for many months before they can make those purchases. But by breaking it down into smaller monthly installments, the students can get the items they need much quicker,” Lim says.
Students often resort to Cicil in emergency situations.
“We had one customer who needed a laptop urgently because his current one broke down and he had a school assignment due the same week. Thankfully, he was able to get a replacement via our platform quickly due to the lower upfront cost, and he managed to hand his assignment in on time,” Lim shares.
Cicil focuses its user acquisition efforts of university students through online advertising, as well as social media. While these methods may be effective at getting them interested in signing up with Cicil, these touchpoints are not enough. Since the majority of these students don’t have credit cards, the concept of financing is new to them as well.
“The concept of paying via installments is very new for university students, so we try to help by educating them about it. We have actually run a few financial education workshops in various universities so that the students can learn to better manage their money at a younger age,” Lim says.
In addition to Cicil’s upcoming participation in the Google Launchpad Accelerator Program, the team is focused on building out their platform. “We want to continue to develop our product to give a better user experience to our customers,” Lim says.
BY Amanda Pressner Kreuser


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Under fire from rivals, Google Inc.'s chairman defended the search giant's practices in a congressional hearing on Wednesday, saying the company operates in a highly competitive environment as it aims to serve consumers.
"We built searches for users, not websites, and no matter what we do there will always be some websites unhappy with where they rank," Google Executive Chairman Eric Schmidt said to members of a Senate Judiciary antitrust subcommittee in a prepared statement.
Schmidt, who is a member of President Barack Obama's Council of Advisers on Science and Technology, is appearing amid charges from competitors that Mountain View, Calif.-based Google favors its own businesses over those of rivals in search results. The company is the subject of an antitrust investigation by the Federal Trade Commission, and senators also are asking questions about Google's business practices.
"Critics claim that Google has begun to subtly bias its search results in favor of its own services," said Sen. Herb Kohl, the Wisconsin Democrat who chairs the antitrust panel.
"This conduct has the potential to substantially harm competition for commerce on the internet, and retard innovation by companies that fear the market power of Google."
Google competitors Yelp Inc., Nextag Inc. and Expedia Inc. unloaded a barrage of criticism against the company in testimony Wednesday.
"We believe Google has acted anticompetitively in at least two key ways: by misusing Yelp review content in their competing Places product and by favoring their own competing Places product in search results," Yelp CEO Jeremy Stoppelman said in prepared remarks. He and representatives of other companies are scheduled to testify on a separate panel from Schmidt.
"Google doesn't play fair. Google rigs its results, biasing in favor of Google Shopping and against competitors like us," Nextag CEO Jeffrey Katz said in his testimony.
"Google's tactics foreclose the ability of other sites to compete on the merits and to achieve the scale necessary to succeed," said Thomas Barnett, a lawyer and former Justice Department antitrust chief who represents Expedia and other clients.
The companies help consumers search for goods and services including restaurants, airline flights and electronic equipment.
Schmidt argues that Google operates in an intensely competitive environment and that consumers are free to use any of the company's rival sites. "If consumers don't like what one website is providing them, they can switch to another website with just one click," he said.
Lawmakers were expected to ask Schmidt about how Google's closely guarded search algorithm works and how it ranks its own products.
In his testimony, he said that Google makes "hundreds" of changes to its algorithms each year and that sometimes the most useful answer to a query is a map, video, a flight time or a shopping result, and not a website.


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The US-based beauty company has been picked out as enjoying benefits of the EU referendum decision, with tourist spending rising in London to take advantage of favourable exchange rates.
The head of the company in the UK has come forward to assert that eventually the company will have to look at price increases, but will be considerate in how they approach this move.
Speaking recently to the Cardiff Business Club in Wales, Chris Good said: “The intention is not to pass [price increases] on to the consumer. The consumer is first and we will always price to the market.”
Premium winning out
The assertion from Estée Lauder comes as market research points to premium beauty being one of the main winners so far following the Brexit vote.
Indeed, according to an NPD Group report released this week, sales of prestige beauty products grew twice as fast (up to 6%) in the three months following the UK referendum when compared to the six months prior to it (when growth was at 3%).
The greatest growth post-Brexit has been in the sale of niche fragrances (£125+) and super premium skincare (£200+), according to NPD, both of which reported double digit growth.
Conditions set to shift again
The research firm cautions, however, that the rapid growth is unlikely to be sustained, with economic and retail conditions likely to shift again in the coming period.
Teresa Fisher, Senior Account Manager, NPD UK Beauty, said: “The sale of prestige beauty products has seen unprecedented growth in the three-month period following Brexit.
“This is great news for retailers and manufacturers both in store and online and represents a huge opportunity for prestige beauty in the upcoming Christmas festive season, however, based on trended insight we do not believe this can be sustained.”


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The next-generation iPhone 15 Pro and iPhone 15 Pro Max will not feature solid-state buttons due to “unresolved technical issues prior to mass production,” according to the latest information shared by Apple analyst Ming-Chi Kuo.
Kuo said the iPhone 15 Pro models will be equipped with solid-state buttons back in October. He said two additional Taptic Engines inside the iPhone will provide haptic feedback to simulate the feeling of pressing buttons, without physically moving them, similar to the Home button on the iPhone 7 or the Force Touch trackpad on newer MacBooks. However, in a Medium post Today, he said that the devices will have physical buttons after all.
“My latest survey indicates that due to unresolved technical issues before mass production, both high-end iPhone 15 Pro models (Pro and Pro Max) will abandon the closely watched solid-state button design and revert to the traditional physical button design, Ko wrote. It is not clear if the “traditional” design means that there will be two volume buttons or if Apple will still adopt a single rectangular volume button, as was previously rumored.
Kuo said there is still plenty of time for Apple to tweak the design of the iPhone 15 Pro since the device is still in the EVT development stage. He believes the change will have a “limited impact” on the mass production schedule and shipments of the Pro models.
The reversal was also reported by technical analysts Jeff Bo and Shelly Zhu at Hong Kong-based investment firm Haitong International Securities.
Bo and Zhou said in a research note we obtained before Mac rumors today. Analysts believe that the solid-state button design is delayed until the iPhone 16 series in 2024.
Kuo said the news is “unfavorable” to Cirrus Logic and AAC Technologies, two major suppliers of Taptic Engine-related components for iPhones.
iPhone 15 Pro Dummy brings a realistic look to the new buttons, USB-C, and more
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“Certified food guru. Internet maven. Bacon junkie. Tv enthusiast. Avid writer. Gamer. Beeraholic.”
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New Metro supermarket to open at Windsor's former Target location
Friday, August 5, 2016
The Windsor Star/Dalson Chen
Windsorites will soon be able to buy groceries at the Devonshire Mall.
Canadian supermarket chain Metro Grocers confirmed on Thursday that the rumours are true: A new grocery store is being built at the former Target location at 3100 Howard Ave.
“To clarify, a Metro store is planned for the location — we just do not have an opening date at this point,” said Metro spokesman Mark Bernhardt.
Construction firm Fortis Group began demolition work on the site earlier this week — using heavy equipment to take down a wall section of the 120,000-square-foot store space.
According to a City of Windsor building department report, the $1.5-million transformation project includes interior renovations and installation of four new loading bays.
The site was a Zellers store for almost 20 years until it was taken over by Target in 2012 as part of an attempt to grow the Target chain into Canada.
Target Canada’s Windsor location opened with much fanfare in March 2013 — only to close its doors two years later when Target abruptly aborted all of its Canadian expansion efforts.
Devonshire Mall has not had a supermarket with meat and produce since September 1997, when A&P Canada left the shopping centre due to lack of business.
Metro Inc. — the third largest supermarket chain in the country — acquired A&P Canada in 2005, and converted all A&P stores to the Metro name in 2008.
Metro also owns Food Basics.
Prior to A&P Canada at the Devonshire Mall, the mall had Miracle Ultra Mart — which used to occupy the part of the mall that is now Chapters bookstore. A&P Canada acquired all Miracle Food Mart properties in 1989.
Once the new Metro location is complete, the Devonshire Mall will be in direct competition for grocery shoppers with the Walmart Supercentre at 3120 Dougall Ave. — less than three kilometres away.
It’s not yet known what hours the mall’s Metro store will keep. The Metro store at 3663 Tecumseh Rd. E. is open 24 hours a day, seven days a week.
The Metro stores at 2750 Tecumseh Rd. W. and 6740 Wyandotte St. E. are open from 7 a.m. to 11 p.m.


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Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
NEW YORK ( TheStreet) -- Today there was profit-taking because things are going too well, Jim Cramer said on "Mad Money" Wednesday. That logic may seem counter-intuitive but with so many parts of the economy heating up, it's almost time for interest rates to start heading higher.
Cramer told investors not to take their cues from Caterpillar (CAT), a company whose management has been doing all of the wrong things. Instead, look at all the sectors that are doing well -- such as housing, which is seeing new home sales at five-year highs. Or autos, where Ford Motor (F) is leading the charge.
Executive Decision: Mike ThamanIn his "Executive Decision" segment, Cramer spoke with Mike Thaman, chairman and CEO of Owens Corning (OC), which delivered Wednesday a 12-cents-a-share earnings miss on lighter-than-expected revenue. Shares of Owens Corning stood their ground in today's trading, however, and are still up 60% for the year. Thaman attributed the shortfall to the company's roofing products, which were in high demand this time last year but are now following a more normal seasonal pattern. He said the volume is building towards the second half of the year, however, and he expects strong momentum to continue into 2014 and beyond. When asked about the red-hot housing market, Thaman said what's most important for Owens Corning is that demand is growing in a predictable pattern that allows customers to build their inventories and Owens Corning to raise its prices. He said disruptions in growth cause the building products market to take pause, but things have been growing steady over the past 12 to 18 months.
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HTC went head-to-head with Samsung this year, launching its new flagship, the One M9, at the exact same time as its Korean competitor. HTC came away from the duel much more worse for wear than expected, as the Galaxy S6 turned heads and triumphed with high sales right after launch. Now, HTC has released its financial report for April, and it’s the bleakest news the Taiwanese company has had in six years.
“Revenue for last month was weaker than expected, which was due to poor M9 demand.”
HTC posted NT$13.5 billion ($440 million) in revenue for April, which is a huge 33 percent decrease from March. The figure was also a whopping 39 percent lower than the revenue HTC posted during the same period last year. To make matters worse, this is the lowest monthly revenue for April that HTC has reported since 2009, when it made NT$11.4 billion.
HTC’s One M9 flagship, which was supposed to raise the company’s fortunes and increase revenue substantially in 2015, wasn’t even on sale in March, and yet HTC managed to post higher revenue without its flagship on store shelves. Many analysts cited the One M9’s failure to appeal to customers as the prime reason for April’s low revenue.
“Revenue for last month was weaker than expected, which was due to poor M9 demand,” an anonymous Yuanta Securities Investment Consulting Co. analyst told the Taipei Times. “HTC might have underestimated the Qualcomm [Snapdragon] 810 processor’s thermal issue, and this has resulted in poor reviews and concern from carriers.”
Indeed, in our review of the One M9, we noted a marked heat increase during heavy-duty processing tasks, video streaming, and app downloading. The battery life also suffered dramatically, and we came away disappointed by the device on the whole. Although it’s hardly conclusive evidence, the fact that LG opted to use the Qualcomm Snapdragon 808 processor in its G4 instead of the 810 seems to indicate that the overheating issue is very real and troublesome.
Additionally, shortly after HTC introduced the M9, it also showed off the M9+ for China and other markets. The M9+ sports more high-end specs and looks to be more appealing than the standard M9 that made its way stateside. While the launch of that model may help HTC’s sales increase, it seems that the original One M9 is something of a failure at this point.
Analysts appear to be pessimistic about HTC’s chances to win over customers in 2015, regardless of the other models the company releases this year. BNP Paribas predicts that HTC will ship just 18 million smartphone units in 2015, which is a decline of 13 percent compared with 2014’s figures.
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New Bottling of Dom Pérignon
Issue: December 31, 1994
New Bottling of Dom Pérignon Moët and Chandon has released the first bottling in three years of its Cuvée Dom Pérignon Champagne. The 1988 vintage costs $90 per bottle, up about $10 from the 1985 vintage, the last Dom Pérignon to be released.
For the full article, check out the new issue of Wine Spectator, on newsstands December 31, 1994.