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Leeds MasterChef semi-finalist opens pub “to get our markets back to their former glory.”
By Molly Clayton
The Owl, a new gastropub will be opening inside Leeds Kirkgate market for the first time in its 150 year history.
Owners Liz Cottam, MasterChef 2016 contestant and Mark Owens, who previously retained a Michelin star for Ilkley’s The Box Tree, plan to open the pub this Autumn.
Liz Cottam said: “I’ve always been drawn to opening a pub, but I wanted to do it differently”
The recent gastropub revolution has begun to save pub culture whilst also introducing people to fine dining and a new style of drinking.
The Campaign for Real Ale says that 378 pubs shut down permanently between July and December last year in England, Scotland and Wales, representing more than 14 closures a week.
Kirkgate Market is one of Europe’s largest indoor markets. Since 1857, the Market has been home to some of the most characterful traders in the city, with businesses representing a wide range of fresh food and drink.
The Campaign For Real Ale is an organisation in the UK that promotes and advocates pubs and clubs as social centres and as part of the UK’s cultural heritage.
Katie Wiles, the senior communications manager for CAMRA said: “Pubs are important to our society. We recently did some work with the University of Oxford where people said they feel happier in the area they live if there is a local pub.
“Roughly, around 14 pubs a week close in the UK and since the 1970’s over a quarter of all pubs have closed.
49p in every £4 pint of beer is now beer tax.
“The UK has the highest rate of beer tax which is why so many pubs are struggling to stay open.”
“Gastro pubs seem to be doing really well. The fact that they have unique ideas, smaller spaces and a smaller amount of staff means they are thriving. It always helps if the owner has a name or status and already has experience in the local area.
The Owl will be a 44-seater taproom and dining room. It will also partner with Leeds Brewery Northern Monk who has produced a new beer specifically for the pub. Liz and Mark both previously joined forces in 2017 to open the popular HOME restaurant in the city centre.
It will use produce from the local market with an emphasis on fish and game.
Liz Cottam has always been part of the pub culture in Leeds. She said: “Mum and Dad owned spit-and-sawdust pubs around Leeds in the 1980’s and we’d shop in the market almost everyday. It was very much part of my childhood.
“The market was no frills but good quality. It was almost like an early version of Aldi. But then supermarkets happened, convincing us to buy pretty food in out-of-town stores.
“Thank God, people are now learning more about produce. It’s time to get our markets back to their former glory”
Liz has created a dining room menu as well as a beer-friendly snack menu too.
On offer will also be special beer pairings with the food using the Northern Monk brews.
The Owl is the first of four venues that Liz and Mark plan to open.
Kirkgate Market is one of Leeds’ most popular tourist destinations. A Kirkgate Market shopper said: “Hopefully the pub will bring Kirkgate Market a new audience. I think we need more diverse offerings in the market and this new gastropub is a great idea. Save our local pubs and go as often as you can.”
The gastropub rebellion is being largely held to improve pubs and revive the all important pub culture.


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BMW X5: a punchy and refined SUV
The fourth-generation of the modern classic is more connected that ever
The BMW X5 was a game changer when it first arrived in 1999, says Nat Barnes in the Daily Express. More than 2.2 million worldwide sales later and we now have this fourth-generation X5, boasting even better luxury and performance, as well as improved off-road ability.
What’s new? Pretty well everything, says Top Gear – only the engine and transmission are old friends, although even they’ve had a going-over. On top of that, there is more luxury and connectivity, as well as BMW’s fanciest driver assistant and a new, all-screen dash.
Another feature new to the latest X5 enables you to use your phone to lock and unlock it, thanks to a chip in its doors. All you need to do to unlock the car is hold your phone up to the door handle – the engine will start as soon as you’ve put your phone in the wireless-charging spot or smartphone tray, says BMW. You can also send access to up to five friends via an app.
Underneath, you can find some new engineering: all-round air suspension. It’s easy to poke fun at people who never use their SUV’s potential, says Top Gear – “the only climbing they do is the social kind!” – but for those who do use the capability, “this will be a boon”. The familiar 3.0-litre, six-cylinder diesel engine packs enough shove – 0-62mph takes 6.5 seconds – for effortless overtaking, while also feeling relaxed enough for motorway cruising, says Richard Ingram on Auto Express. It’s “surprisingly agile” for a 2.2-tonne SUV, too – the steering is accurate and body control is good, while the ride is “compliant and composed”. BMW is hoping that its xDrive 40i petrol car will account for an increasing proportion of sales as the buying public turns its back on diesel, says Ingram. For now, however, the 30D will remain the biggest seller. After only a few miles, it’s easy to see why: “It’s punchy, refined and super-flexible.”
Price: from £56,710; 0-62mph: 6.5 seconds; Top speed: 143mph; Engine: 3.0 litre, six-cylinder diesel
This article was originally published in MoneyWeek

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Full Fat Dairy Products May Be A Healthy Choice
Since those with diabetes are at increased risk for heart disease, the recent conclusions of a Danish research team may be of interest those watching their blood sugar levels.
The researchers gathered 140 participants for a 12 week study to determine the effects of eating full-fat cheese on human health.
- A third of the participants ate 80 grams of high fat cheese every day.
- A third of the participants ate 80 grams of reduced fat cheese each day.
- A third of the participants ate 90 grams of bread and jam every day, and no cheese.
The investigators found no significant LDL cholesterol changes in any of the three groups; however, those eating the high-fat cheese increased their HDL levels. High HDL levels are believed to protect us not only from cardiovascular disease, but from metabolic conditions as well.
Other studies suggest that eating full-fat cheese enhances both triglyceride and cholesterol levels, wards off fatty liver disease, and is also helpful with weight management.
Full Fat Dairy and Diabetes
Full-fat cheese is not the only dairy item getting healthy marks from scientists.
A study published in the journal Circulation shows that full-fat yogurt and milk provide more health advantages, such as reduced risk for diabetes and obesity, than their low-fat counterparts.
This research took periodic blood samples from 3,333 adults, measured the dairy fat in their bloodstream, and over a 20 year span tracked the participants for type 2 diabetes onset.
“People who had the most dairy fat in their diet had about a 50 percent lower risk of diabetes compared with people who consumed the least dairy fat,” said Dr. Dariush Mozaffarian, dean of the Friedman School of Nutrition Science and Policy at Tufts University, and an author of the study.
Though the 2015 Dietary Guidelines for Americans continue to recommend skim milk and low-fat dairy items, not all scientists, or nutrition experts agree. “There is no prospective human evidence that people who eat low-fat dairy do better than people who eat whole-fat dairy,” notes Mozaffarian.
Considering Our Choices
With all this new dietary research evidence contradicting what we’ve been told for decades, it’s a confusing time for consumers. While sorting through the data, conferring with our doctors, and considering options, there are two important things we should do now:
- Limit our intake of sugar and refined grains which the new food guidelines indicate are primary instigators of obesity and heart disease.
- Make sure we choose healthy fats, and avoid all trans fats, and deep fried foods.
The healthiest fats include authentic olive oil (best for cold dishes), coconut oil for baking and cooking, butter, raw nuts, eggs (organic pastured are best), avocados, and grass-fed meats.
The Dietary Guidelines for Americans acknowledge that reducing total fat has no effect on heart disease or obesity risk, but still recommends a 10 percent daily limit for saturated fat intake. This limit may eventually be found too conservative, but every body is different. We are wise to discuss personal nutrition and health needs with our diabetes care team before making any dietary changes.


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Maxtor and Sentry Group have teamed up to take security to a whole new level by creating an external hard drive capable of resisting fire and water. The result of the collaboration was remarkable. Sentry concentrated on the physical security of the device while Maxtor provided the software called SafetyDrill which allows for an almost immediate restoration of the whole system. It carries a price tag of $260 for 80 GB model and $320 for 160 GB model.
Sentry used natural disasters for marketing; the recent fires in Southern California resulted in many people losing their computer data to the flames.
"A recent national news broadcast reports how one San Diego family lost their entire home, but thanks to their Sentry®Safe FIRE-SAFE® storage container their valuable memorabilia and irreplaceable items survived undamaged," the site says.


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The largest ever drop in seasonally adjusted imports helped New Zealand record its smallest quarterly trade deficit in seven years, Statistics New Zealand said today.
The seasonally adjusted trade balance was a deficit of $65 million in the March 2009 quarter, the smallest deficit recorded since June 2002.
This quarter’s figure follows five years of quarterly deficits that have generally been in excess of $1 billion.
The value of seasonally adjusted imports recorded its largest ever fall in the March 2009 quarter, down 12.8% ($1.6 billion) compared with the December 2008 quarter.
This fall was led by a $1.3 billion decrease in intermediate goods, as falling crude oil prices coincided with a drop in the quantity of oil imported.
The value of seasonally adjusted exports fell 4% ($449 million) in the March 2009 quarter.
A price-led fall in milk powder, butter and cheese exports, and falls in crude oil drove this decrease.
Aluminium and aluminium articles decreased in both quantity and price.
The monthly value of merchandise exports exceeded $4 billion for the first time in March 2009, up 17.7% on March 2008, boosted by strong increases in meat and edible offal, and the export of large aircraft.
The actual value of merchandise imports also rose in the March 2009 month, up 6.9% due to increased imports of mechanical and electrical machinery and equipment.
The trade balance for the March month was a surplus of $324 million.
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The company is presently waiting for the written order from the Karnataka High Court that directed the competent authority under FEMA to hear Xiaomi's appeals against the enforcement directorate's order to seize its assets worth over Rs 5500 crore, and pass an appropriate order within 60 days, before deciding on the next course of action. The ED is investigating the company's payments to third parties since it was incorporated in India in 2014, alleging that the company has been remitting money illegally to third parties under the guise of royalties. Xiaomi has denied any wrongdoing, maintaining the royalty payments are part of valid legal contracts.
ED's actions also coincided with the company's former India head Manu Kumar Jain transitioning to a global role in the company, based out of Dubai. Xiaomi India appointed Alvin Tse, who was heading the company's business in Indonesia as the new India head, with Anuj Sharma returning to the company as the chief marketing officer.
The leadership change, the industry executive said, has not resulted in any change in the way the company conducts its business in India. It remains a lean outfit with a strong focus in the government's 'Make in India' efforts. Xiaomi employees are also returning back to the company's office in Bengaluru and there has been no fear of layoffs or the company shutting operations.
The new leadership has also recently met a senior minister who asked the smartphone market leader to increase exports and deepen the supply-chain ecosystem and value addition in India. The minister also asked for all products to be data privacy compliant.
The company's image did take a hit initially after news about the probe broke, but that has not hurt sales of its products. Xiaomi's smartphone market share increased from 21% in April to 22% in May, according to Counterpoint Research's mobile shipments tracker, even as shipments across the industry fell by 9.4% during the same period.
The company now plans to introduce more products across its smartphones and Internet-of-Things ecosystem in July.
While the ED probe has not dampened the spirits of the smartphone market leader in India, rising component costs and softened discretionary spending by cost-conscious consumers has made the company move up the price ladder towards premiumisation. The executive said the budget and mid segment smartphone market is not bringing any profits for a company that has already pledged not to charge more than a 5% profit margin from the sale of products.
The executive said even during a period of recession, with discretionary spending going down, mobile phones will continue to be essential purchases. However, consumers will then opt for devices that offer higher value for money, which Xiaomi products already offer.
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New all-wheel-drive Porsche 911s have arrived
The latest 911 has a longer wheelbase and a wider front track — both an effort to make the rear-engined design less pendulously unpredictable. But if you're still having that recurring nightmare about exiting the road backwards, fret no more — the new all-wheel-drive Carrera 4 models have arrived.
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A 1967 Shelby GT500 Super Snake sold for $1.3 million. Do you think classic cars were made better than modern rides?
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- Yes, the quality of cars from the 1960s and '70s is the best
- No, modern technology makes cars better today
- Maybe, it's hard to say since most Canadians get a new car every 10 years


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MARK KARLIN, EDITOR OF BUZZFLASH AT TRUTHOUT
In the scrum of unsettling news about an administration and Congress that are enacting harmful right-wing measures on an almost daily basis, it is affirming to note when progress is being made. The Conversation recently ran an article about the important steps that the Consumer Financial Protection Bureau (CFPB) has already taken to protect consumers in the United States. The brainchild of Elizabeth Warren, the CFPB was included in the Dodd-Frank Wall Street Reform and Consumer Protection Act that passed Congress in 2010. The agency opened in 2011.
One positive step the CPFB has taken is to ban the forced consumer arbitration requirements which are often included in the fine print of consumer agreements for credit cards, loans and other products offered by banks and financial institutions. These requirements have put a stranglehold on consumer efforts to recover fraudulently obtained funds -- and to reform the banking industry by allowing court cases seeking remedies to unfair practices. The ban represents a significant step in the struggle for a pro-consumer footing in relation to the financial industry.
In a July 10 Consumer Financial Protection Bureau news release, the agency announced,
a new rule to ban companies from using mandatory arbitration clauses to deny groups of people their day in court. Many consumer financial products like credit cards and bank accounts have arbitration clauses in their contracts that prevent consumers from joining together to sue their bank or financial company for wrongdoing. By forcing consumers to give up or go it alone – usually over small amounts – companies can sidestep the court system, avoid big refunds, and continue harmful practices. The CFPB’s new rule will deter wrongdoing by restoring consumers’ right to join together to pursue justice and relief through group lawsuits.
"Arbitration clauses in contracts for products like bank accounts and credit cards make it nearly impossible for people to take companies to court when things go wrong," said CFPB Director Richard Cordray. "These clauses allow companies to avoid accountability by blocking group lawsuits and forcing people to go it alone or give up. Our new rule will stop companies from sidestepping the courts and ensure that people who are harmed together can take action together."
The CFPB news release notes that the regulation applies "to the major markets for consumer financial products and services overseen by the Bureau, including those that lend money, store money, and move or exchange money."
There is no doubt that this new regulation is a victory. However, as the article in The Conversation emphasized, the Bureau itself is under withering assault by the Republican Congress, particularly in the House of Representatives. As The Conversation article states, "Republicans in Congress and the White House have been very blunt about their desire to gut the Consumer Financial Protection Bureau (CFPB)." The article also emphasizes,
The House of Representatives has passed a bill that would cripple the CFPB by, for example, taking away the power it used to fine Wells Fargo for opening illegal accounts and concealing its complaint database from public view. In other words, it would force the bureau to sit idly by as financial institutions lie to consumers.
The new CPFB rule will allow consumer class action suits against banks and financial institutions. These institutions detest class action lawsuits, in which they must confront a group of consumers often represented by high-powered plaintiff's attorneys who are specialists in taking on companies that have committed abuses. The settlements, if a company is found guilty, apply to all the people who have been taken advantage of (if they indicate acceptance of the settlement). It is exponentially easier for businesses to force arbitration and take on one consumer at a time for smaller amounts than to face a class action lawsuit. Furthermore, in arbitration there is no opportunity to force the banks and financial institutions to change their behavior, unlike courts, which can obtain agreements to abandon unfair policies. In addition, the arbitrators are currently often chosen by the financial industry or from a panel of arbitrators chosen by the financial industry. The remuneration of arbitrators comes from the banks and financial institutions, thus inherently providing a pro-corporate incentive to the arbitrators.
This information provides the context for the fierce opposition to allowing class action suits that came from The U.S. Chamber of Commerce in a news release. Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), and David Hirschmann, president and CEO of the U.S. Chamber Center for Capital Markets Competitiveness (CCMC) stated,
The CFPB’s brazen finalization of the arbitration rule is a prime example of an agency gone rogue. CFPB’s actions exemplify its complete disregard for the will of Congress, the administration, the American people, and even the courts, who have ruled that its structure is unconstitutional.
Even this one regulation faces virulent opposition in a pro-corporate Congress. In contrast, Elizabeth Warren stated in a news release posted on her Senate website:
This CFPB rule will allow working families to hold big banks accountable when they're cheated and help discourage the kinds of surprise fees that consumers hate. In the upcoming months, the US Chamber of Commerce and other big business lobbying groups will go all out to get Republicans in Congress to reverse this rule, so Republicans will have to decide whether to defend the interests of their constituents or shield a handful of wealthy donors from accountability.
The senator persists, as she should.


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Whole Foods Market is voluntarily recalling some 4-ounce Whole Catch Wild Alaskan Sockeye Salmon because it may be contaminated with Listeria.
Whole Foods Market is voluntarily recalling one lot code of 4-ounce Whole Catch Wild Alaskan Sockeye Salmon, cold smoked and sliced, after a sample tested positive for listeria.
The lot code for the recalled smoked salmon is 7425A2298B. The UPC code is 0 99482 40880 0.
The recalled sockeye was being sold in Whole Foods stores in Colorado, Connecticut, Florida, Idaho, Kansas, Maine, Massachusetts, New Jersey, New Mexico, New York, Rhode Island and Utah.
Listeria monocytogenes is an organism which can cause a sometimes fatal infection in young children, frail or elderly people and others with weakened immune systems. Although healthy individuals may suffer short-term symptoms, such as high fever, severe headaches, nausea, abdominal pain and diarrhea, Listeria infection can cause miscarriages and stillbirths among pregnant women.
The recalled salmon is sold in black-and-gold, flat, rectangular vacuum-sealed packages, according to a picture released by the Food and Drug Administration.
Whole Foods said in its recall notice that no illnesses have been reported.
The FDA recall notice asks customers to throw the product in the garbage and wash their hands immediately to avoid any potential cross-contamination. Full refunds will be given at the store. For more information on the recall, call (512) 542-0060.
Smoked salmon recalls spiked during the last two months of 2012, when products were recalled in five multistate markets for the same problem.


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The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
SHANGHAI, China — This week hundreds of millions of Chinese travellers are on the move as the National Day Golden Week holiday causes airports and train stations to swell with passengers on an epic scale. Overshadowing just about everything else happening in the Asian travel market, it is little wonder this story dominates the headlines. But the annual Chinese exodus is not the only travel retail opportunity that fashion brands need to watch.
Tax-refund provider Global Blue recently named Japan its number one tax free shopping market worldwide, in terms of number of transactions and sales-in-store. This success is undoubtedly due to Japan’s increasing popularity as a tourist destination, with tourist numbers increasing 15.6 percent between January and June 2018, compared to the same period last year.
According to Chinese travel booking giant, Ctrip, Japan is the number one destination of choice for Chinese travellers this October holiday, followed by Thailand and Hong Kong.
Both Chinese and Korean shoppers are a well documented source of revenue for fashion brands targeting the well-heeled when they holiday abroad. But the rising consumer classes of Southeast Asia are beginning to make their impact felt across the Asian travel market too.
Data from the Japan National Tourism Organisation (JNTO) shows the biggest rise in visitor numbers to Japan year-on-year for the month of June came from Thailand (up 42.2 percent), Indonesia (46.4 percent) and Vietnam (34.9 percent).
Shoppers from Southeast Asia are often outspending Chinese visitors three-to-one.
Incidentally, these three countries (along with the Philippines) were also recently found to have the highest consumer confidence in the region, according to business intelligence firm Nielson, indicating that the trend for more traveling and spending is unlikely to wane in the short term.
According to Bianca Belnadia, managing director of Indonesian fashion brand Love Bonito, Indonesia’s newly minted middle classes are “crazy” about shopping in Japan because of its convenience, service and reputation for cleanliness and safety.
“Rich [Indonesians] have been going there for decades; only recently it started becoming easily accessible for the upper middle class,” she explains. “For Indonesians, the way of life is kind of shifting. They are now allocating more spending to new lifestyle things, like travel.”
According to Toshi Shimizu, country managing director for Global Blue Japan, though the number of shoppers hailing from Southeast Asian countries is small compared with the number of Chinese visitors to Japan, those who do come are often outspending Chinese visitors three-to-one.
“Vietnam and Thailand, the number of people is still smaller than Chinese and the number of transactions is smaller, but the amount spent per transaction is bigger. Today, the average basket for Chinese people is €400 per person and for Vietnamese it’s €1,200 per transaction,” he says.
In part this is because many of the travellers from Southeast Asia who make their first forays into international travel via convenient locations like Japan are from the top of the socio-economic pyramid. But data also shows that Southeast Asian consumers are travelling in greater numbers, and as positive macro-economic trends work to push more people into the middle class bracket, it’s likely these numbers will continue to rise.
Junichiro Mimaki, director of the "Cool Japan" promotional campaign policy division, a government initiative aimed at strengthening ties between Japan and the rest of the world, outlines aggressive government targets aimed at increasing revenue from this growing pool of visitors.
Rich Indonesians are more likely to splurge in Japan than at home.
According to figures provided by Mimaki, total consumption by foreign tourists currently sits at over $400 million per annum, with the Japanese government setting a target of doubling consumption to $800 million by 2020 and $1.5 billion by 2030.
“We expect that the consumption by foreign tourists will make a large contribution to our domestic market and promote Japan's retail industry's change in order to fit demand of foreign tourists more. We also think Southeast Asia will increase their share of Japanese foreign tourists,” he says.
According to research from Kantar, strong macro-economic performance in the region has resulted in what it describes as “spectacular growth of the middle class” in some Asian markets, which means a boom in the number of trips taken: Indonesia will be the fastest growing travel market in the region with its gross bookings increasing by over 50 percent from a small base in 2014 to $17.5 billion by 2017.
Consumer spending in Indonesia reached an all-time high of nearly $98 billion in the first quarter of this year. Retail sales growth has fluctuated widely from month to month, but remains above 2 percent most months and sometimes double that.
“You’ve got the massively youthful populations of the Philippines or Vietnam, where the average age is somewhere in the mid-20s, and a country the size of Indonesia, with its growing urbanisation. In all of the ASEAN (Association of Southeast Asian Nations) countries, everything is swamped by the China story, but urbanisation is happening at a faster rate in Vietnam than it is in China, and no one talks about it,” explains Kevin Martin, head of retail banking and Wealth Asia at HSBC.
In terms of what these consumers are buying when traveling to Japan, the product segment that comes up most often is beauty, with Martin pointing out that, although all categories of tourists from Southeast Asian nations are increasing, there is a marked increase in female business travellers from the region, and both Shimizu and Mimaki naming Japanese beauty brands such as SK-II and Shiseido as major beneficiaries of the trend.
Urbanisation is happening at a faster rate in Vietnam than it is in China, and no one talks about it.
According to Vu Quan Nguyen, creative director at Leo Burnett Vietnam, for Vietnamese tourists to Japan, the array of products and brands on offer that can’t be found at home is a major draw. “At top of mind is apparel and footwear for young men, and apparel, but also a lot of cosmetics for women,” he says.
Japan’s superior service levels – both in terms of retail and hospitality – are a major draw during peak tourist seasons of ‘hanami’ and ‘koyo’ (spring cherry blossoms and autumn foliage period), but Japan’s surprisingly poor average level of English language skills leaves some cosmopolitan travellers from Southeast Asia feeling frustrated. While this is something that Japanese officials are trying to address in the run-up to the 2020 Tokyo Olympics, there is no quick fix.
In terms of luxury products, Belnadia believes rich Indonesians are more likely to splurge in Japan than at home, as they plan ahead for trips to destinations where they will have more choice, and Nguyen points out that Japan has become a major destination for shopping by proxy for limited edition and luxury items that are resold on the grey market in Vietnam.
HSBC research shows households in Southeast Asia remain more price-sensitive, even at equal levels of GDP per head than those in China. So, while "trading up" is a key consumer theme for the middle classes in China, it’s less so for some of their neighbours to the southeast.
“If you look at the traditional Chinese consumers who love the brands and are prepared to pay for them, I suspect [that apart from Singapore] it’s absolutely not the same for the ASEAN countries [considering] their economic pace and status development,” Martin says.
The better assortment of brands and products, as well as relative convenience in terms of transportation, inexpensive flight routes and ease of getting a visa (though visas are generally required for Vietnamese and Indonesian travellers, Japanese visas are more straightforward to obtain than those for US or European destinations and tourists from Thailand qualify for a visa-free travel period) are all part of the appeal of destination for Southeast Asian travellers, but there are also cultural elements at play.
Though Nguyen believes that service and deference afforded consumers in Japan plays into the country’s popularity as a shopping destination, there is also a tangible sense of Asian identity that serves to make Southeast Asian travellers feel somewhat at home, even as they strike out abroad for the first time.
“I think there is this sense of familiarity, this sense of pride and connection to a pan-Asian culture or lifestyle and that’s a way for marketers can take advantage of this pan-Asian identity over a global one in terms of cultural value, there’s definitely something there,” he says.


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U.S. consumer confidence jumped this month on a better outlook for hiring and growth, supporting other signs that show the economy could accelerate in 2014.
The Conference Board said Tuesday that its index of consumer confidence rose to 78.1 in December, up from 72 in the previous month. November's figure was revised up from 70.4. The December increase followed three months of declines.
Consumer confidence is nearly back to where it was before the partial government shutdown in October. Steady job gains and a surging stock market have made Americans more optimistic about the economy and hiring both now and in the near future.
"The upbeat consumer mood bodes well for spending in 2014," said Michael Dolega, senior economist at TD Economics.
Optimism about the job market is at a five-year high. That is a positive sign for a strong December jobs report, which will be released next week.
Consumers' confidence is closely watched because their spending accounts for 70 percent of economic activity.
The confidence index has averaged 73.3 this year, according to economists at Barclays Capital, the highest since 2007. In 2009, when the economy was in recession for half the year, it averaged 45.2.
But confidence remains below the five-year high of 82.1 reached in June. And that's still below the reading of 90 that is consistent with a healthy economy.
The report suggests Americans are willing to spend more on large purchases. The percentage of Americans planning to buy a home in the next six months rose to the highest level since July. And the proportion of Americans planning to purchase a major appliance in the next six months rose in December from the previous month.
The increase in plans to buy a home is "very encouraging, leaving us hopeful that gradually rising interest rates will not derail the housing recovery," Dolega said.
Americans increased their spending in November by the most in five months, led by big gains in auto purchases. While many retailers have reported disappointing holiday sales, consumers appear to be spending at car dealers and on utilities and other services.
Better hiring is putting more money in more Americans' wallets. Employers have added an average of 200,000 jobs a month in the past four months, a big improvement from the summer. Those gains have helped push the unemployment rate to 7 percent, a five-year low.
There are some weak spots: Income rose at a slower pace than spending last month. That means Americans saved less to spend more. And existing home sales have fallen for three straight months, held back by higher prices and mortgage rates.
Still, the economy expanded at a 4.1 percent annual rate in the third quarter, the best showing in nearly two years. The healthy gain largely reflected a jump in restocking, as companies built up their inventories. That's unlikely to be repeated in the current quarter. But many economists have become more optimistic about the fourth quarter and expect growth will clock in at a solid 2.5 percent annual rate.
© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Houston-based MetroNational plans to open the apartment portion of the new Hotel ZaZa Memorial City in January 2018, according to a press release.
The luxury apartment component — called The McCarthy— will feature 133 units across seven levels of the 17-story structure. There will be studio, one- and two-bedroom floor plans that include 10-foot ceilings and private balconies.
Kathy Andrews Interiors led the interior design in conjunction with Kirksey Architecture, both Houston-based firms. Features include granite countertops, custom cabinetry, stainless-steel appliances and other premium finishes, including Carrera marble flooring with warm wood accents and more. The apartment interiors were designed to “capture a timeless sophistication with glamorous deco influences throughout the development,” according to the press release.
Click to read more at Houston Business Journal.


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The productivity of American businesses and workers fell in the first quarter at a slower pace than previously reported, though the weak long-term trend remains a nagging problem for the U.S. economy.
Productivity declined at a 0.6% annual rate in the first three months of the year instead of the initial 1% estimate, revised Labor Department figures showed. Productivity has fallen in four of the past six quarters.
The government doubled its estimate of how much the production of goods and services increased in the first three months of the year. The rise in how many hours employees worked was unchanged.
Most notably, unit-labor costs were marked up to show a 4.5% annualized gain instead of 4.1%. The increase in labor costs was also raised to 5.4% in the fourth quarter from 2.7%. That’s the biggest back-to-back gain since the economy exited recession in mid-2009.
The increase in compensation is a double-edged sword. Higher compensation shows that workers are receiving a bigger boost in pay than previously assumed as the labor market tightens. Those who leave old jobs for ones are particularly likely to earn a fatter paycheck.
Yet rising labor costs in a period of low productivity means companies are paying more for workers to produce the same amount of goods and services, contributing to lower profits. If that keeps up, businesses will probably slow hiring and put a lid on wage increases to maintain profit levels.
“Firms are not going to give workers raises for productivity growth that is not occurring, at least not if they want to stay in business,” asserted Stephen Stanley, chief economist at Amherst Pierpont Securities.
In the past, companies usually invested more in new technologies or other productivity-enhancing measures. Yet business investment has been soft throughout the seven-year-old recovery and it’s weakened considerably in the past year.
Rising wages could also push U.S. inflation higher and cajole the Federal Reserve to raise interest rates from currently low levels.
Extremely weak productivity growth since a U.S. recovery began has confounded economists and helps explain why growth has not been as strong as is usually the case after a recession. Productivity has risen a scant 1.2% annually since 2007, compared with a 2.6% rate from 2000-2007.
“Over time, productivity growth is the key determinant of improvements in living standards, supporting higher pay for workers without increased costs for employers,” noted Federal Reserve Chairwoman Janet Yellen in a major speech Monday.
She said she’s “cautiously optimistic” that productivity will eventually improve and put the economy on a higher growth plane. Other prominent economists are less sure.
Output of goods and services climbed 0.9% instead of 0.4% in the first quarter, the Labor Department said Tuesday. The amount of time employees worked rose 1.5%, unchanged from the initial estimate.
Hourly compensation increased at a 3.9% annual clip in the first quarter, or 4.2% adjusted for inflation. Pay per hour is climbing twice as fast compared with a few years ago.


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ICE – Vsoft launching Boot for LootBy Phil - 3 February 2017
VSoftCo will hosting a penalty shoot-out simulator to announce its forthcoming Boot for Loot with prizes on offer and allow you the opportunity to see if you really are better than England at penalties.
It will also be showing its virtual football game and launching a brand new league football, that combines a league of 20 teams with 10 concurrent matches, allowing over 300,000 betting options per league week. Every event that can be bet on during all of 20 games is visually displayed for the player. There will also be the first opportunity to see the group’s branded football product VStriker in operation.
Finally, VSoftCo are delighted to be unveiling their first foray into casino gaming with the launch our roulette based game Spot The Ball, offering a very modern and unique twist on the well established game of roulette.


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Realme posted a few X50 5 G posters last week, revealing the smartphone’s design and confirming quad rear cameras and a side-mounted fingerprint reader. Now another teaser poster has been released by the company that displays the phone’s front design. The poster shows that on the upper-left corner of its display the Realme X50 5G is equipped with a pill-shaped cutout housing two front cameras. In addition, on three sides the phone will have slim bezels – left, right and top. The volume rockers will be placed on the display’s left edge. The device’s lower edge is not noticeable. The phone is seen sporting a blue finish on the bottom, indicating that, in addition to the previously mentioned Polar colour option, a Blue gradient option will also be introduced. On the left side of the display, the volume rocker is visible.
The manufacturer of the Realme X50 5G has already stated that it will be powered by Snapdragon 765G chipset, also supports enhanced 30W VOOC 4.0 technology. In addition, a 6.67 inches FHD+ 120Hz LCD is installed with a 4.500 mAh battery charged via USB-C port. On the camera side, the Realme X50 5G is fitted with a Quad-camera setup with 64MP Sony’s IMX686 primary, an ultrawide 8MP sensor, a 13MP Hybrid-Zoom lens and a 2MP macro lens. On front pill-shaped cutout consist 32MP Primary and 8MP sensor. There are rumors that the smartphone is available in three memory settings 6GB/128GB (CNY2,199 – $315), 8GB/128GB (CNY2,499 – $360) and 8GB/256GB (CNY2,799 – $400). The phone will arrive in the coming week. Then we’ll get more official information.


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Tune back on Monday, June 9 at 6:00 pm PDT to watch Sony’s E3 press conference. Sony will also broadcast the conference in 40-50 movie theaters across the U.S. and Canada.
Last year, Sony’s E3 conference was all about the PlayStation 4. The console had yet to launch, and many gamers were eagerly waiting for the successor to the PS3. But this year, Sony shouldn’t be announcing any new console. So far, the company has sold 7 million PS4 units, but the PS3 is still the console of choice for many gamers.
That’s why the company will mostly focus on new content for the PS4. There should be a few announcements of exclusive games of Sony franchises — maybe a God of War game, or a new Gran Turismo episode. Naughty Dog probably put together a teaser for a new game as well.
The company needs to convince people to switch from an Xbox 360 or PS3 to a PS4. And of course, Sony will tell you that you should pick the PS4 over the Xbox One.
As for the PSP Vita, it wasn’t a commercial success. It’s unlikely that the company will double down on the portable console in the age of smartphones, tablets and Nintendo consoles. You can expect a couple of game trailers.
And then, there is the rumored virtual reality headset. Back in March, the company unveiled Project Morpheus, a VR headset for the PS4. The headset will sport a 1080p display with head tracking. It could open multiplayer gaming possibilities as well because the console could display different things on the TV display.
Yet, we don’t have a price, a release date or a game lineup. Sony should clear things up at E3. And maybe E3 attendees will even be able to try out this mysterious VR headset.


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As novel coronavirus spread around the world, it has quickly turned crowded areas into empty spaces.
People have no choice but to stay at home and prepare meals that come from their own kitchen. With that, here are some things that one should know in relation to food safety.
Currently, there are no reports that say that coronavirus can be transmitted via food or food packaging, according to the United States Food and Drug Administration (USFDA). However, just like the common cold and flu, the virus can be transmitted and remain on surfaces that can last for an unknown period of time. Therefore, it can also be transferred if an infected person coughs, sneezes, or touches food, preparation tools, and areas.
With this, preparing food at home should be done with best practices by following standard food-safety protocol. This includes making sure that surfaces and tools are washed regularly, washing hands before and after touching food, and lastly, keeping raw and cooked preparation areas separated or divided.
According to the Food Safety Authority of Ireland, cooking food for about 30 minutes at 140 degrees’ Fahrenheit kills the virus. Hence, well-cooked food is the safest option in avoiding the risks of getting the disease.
Practices in buying and washing food
In buying and shopping food supplies, it is recommended to avail of delivery services through ordering commodities online. If buying in supermarkets, make sure to bring hand sanitizer or rubbing alcohol to disinfect the cart before and after shopping. To avoid contact and minimize the spread of the virus, it is best to pay by covering your hands with plastic.
In terms of stocking food, buy food that will help boost one’s immune system. A tip from an international dietitian named Emily Edison is that pumpkin seeds and sunflower seeds are a great addition to salad. According to her, frozen fruits and veggies are also great for longer storage, especially during this outbreak.
In washing the food, using cool water is a good option, especially when the produce comes from the supermarkets that are typically stored at a temperature of 50 degrees or so.
A professor and food-safety specialist from the University of Maine prefers the produce to be washed including homemade ‘natural’ liquid made out of lemon juice and vinegar to ensure a balanced temperature between the produce and the water so that the produce won’t allow bacteria to sink on the surface. Sanitizing tools and preparation areas is also as important as washing the produce.
It is recommended by the Washington State Department of Health that those people who are coughing, feverish, or feeling any signs of illness should keep a distance away from the preparation area and should not prepare the food itself. To reduce the risk of the spread of the virus, it is important to always wash your hands as often as needed before and during food preparation. And lastly, fruits and vegetables should be rinsed before cutting and eating.
In times like these, being extra careful would help in preventing the spread of the virus. Therefore, doing these practices will help in maintaining one’s household clean and healthy.


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The gaming industry is growing rapidly with the rise in the popularity of esports. There are various games that have been played for a long time, such as Pong and Pac-man. These games were designed to be controlled by humans playing them on a screen or other device. However, there has been an increasing demand from gamers for more sophisticated gameplay that can only be created by artificial intelligence (AI).
In recent years, AI (Artificial Intelligence) has become increasingly capable of performing tasks once considered impossible without human input. So it seems logical that developers would want to explore this avenue – but what does it mean? “Games have always been about giving players the illusion of being able to control something they couldn’t,” says Oriol Vinyals, director at Google DeepMind.
“The dream is to build systems that are actually much smarter than us, so we could have not just the illusion but really being able to control something.” There are countless potential applications for AI in the gaming industry. It has already been used to create new games and provides help to players. However, it also enables developers to increase the level of difficulty for games (such as chess) based on player performance.
While AI currently seems to be very good at playing single-player games, this doesn’t mean that it could not be used to improve multiplayer experiences sometime in the future. The idea does give rise to privacy concerns; if AI is ever able to play games like humans, hackers could potentially access it to gather personal information.
“AI is much more creative than we are because it can think like everyone (enough to learn the game), but much faster than anyone (because it has no limits to its imagination),” says Vinyals. “Imagine if you could combine human creativity with AI’s speed.” This would mean that games could be constantly updated with new content, making them last much longer than they would without this added element.
Looking at the future of AI and gaming, there are a few topics that seem important to consider. The first is whether or not AI will be advanced enough to work peacefully alongside humans in an online environment. The second is the possibility of AI being developed to play multiplayer games with humans – which could potentially lead to a newfound level of interactivity between players.
Lastly, it’s also important to consider whether there will be any privacy concerns arising from AI being used in online gaming. This largely depends on how well-trained and secure these systems are going forward.
The Advantages of AI
The advantages are clear when it comes to creating new games, improving gameplay, and keeping things fresh by consistently updating content.
Creating New Games
For instance, indie developer Jonathan Blow created The Witness. The game introduced an AI-controlled companion that would help players proceed through the game if they were stuck on a certain puzzle – allowing them to have a fresh experience every time they play the game.
AI has already been used to improve gameplay in games such as chess. The ChessBot created by computer scientists at the University of Amsterdam was hailed as a major breakthrough when it defeated human Grand Master Peter Leko in 2004.
Popular games such as Fortnite and PUBG already feature content that is updated regularly, but AI could potentially play a huge role here. If it’s possible for AI to continue playing these games, it would save developers a huge amount of time and resources.
Improving Other Businesses Related to the Gaming Industry
Some industries are connected to gaming can also benefit from AI. For example, the gambling and betting industry has already worked closely with AI in some sectors like data management, financial backend, and some automated customer services with improved FAQs and faster problem-solving strategy. Some advanced affiliate websites such as smartcasinoguide.com offer you many benefits like opening bonuses, reliable customer care support and they pack their services with the latest and greatest technology ensuring players to be able to enjoy playing without having to look over their shoulder all the time.
Key Challenges for AI in Gaming
There are obstacles to overcome when it comes to creating games that can be played by AI. One major challenge is being able to train the AIs quickly enough so they are able to play within a reasonable timeframe.
Looking at the potential advantages of using AI in gaming, it’s clear that there are many benefits to be gained from this sort of technology – and we may even see some of these potential applications down the line. So what does this mean for the future? Will AI play games such as Fortnite against human players in the future? Could this also lead to AI playing online games with other gamers? And how would this impact the way people play and enjoy these games?
AI will be a good helper for all of us but we need more time to control it. It is a big challenge for human beings to deal with smart robots. As we all know, AI has its own advantages and disadvantages. I think it is not smart enough to work with people directly. That’s why we can’t see AI playing games against people on its own in the next 5 years. But, it will make huge progress in the future.
It’s evident that AI will play a big role in the gaming industry in the future. While there are some challenges to overcome, such as training AIs quickly enough and preventing cheating, the advantages of using AI are clear. From creating new games to improving gameplay, AI has a lot to offer the gaming world. It will be interesting to see how developers continue to use AI in order to create even more innovative and exciting games for gamers around the world.
AI will be a good helper for all of us but we need more time to control it. It is a big challenge for human beings to deal with smart robots. As we all know, AI has its own advantages and disadvantages. That’s why we can’t see AI playing games against people by its own in the next 5 years. But, it will make huge progress in the future.


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As expected, TSMC will continue to be responsible for Apple’s A14 chip production this year. The Taiwan-based chipmaker has been the sole factory of Apple’s A-series chips for several years. The A14 chip will utilize TSMC’s latest 5nm process, according to a report from DigiTimes.
When A12 first arrived in the iPhone XS, which adopted the 7nm process, was already the most advanced tech at that time, and Apple was also the world’s first smartphone manufacturer to use 7nm technology chips. Now that TSMC’s 5nm process is mature, there’s no doubt that the iPhone 12 series will likely to become the world’s first smartphone to equip with a 5nm process chip in 2020.
A more advanced processes mean ultimately more transistors, therefore, better energy efficiency, as well as better performance.
It’s expected that A14 will begin to enter mass production at the end of the second quarter of 2020 and cover one-third of TSMC 5nm production capacity.
Apple is expected to launch four iPhones next fall, including iPhone 12 with 5.4-inch and 6.1-inch OLED panels, iPhone 12 Pro with 6.1-inch OLED panel, and iPhone 12 Pro Max with 6.7-inch OLED panel. Rumors have it that iPhone 12 Pro/Pro Max will implement with a time-of-flight (ToF) camera and possibly redesign to the metal frame.
Image Via Patently Apple


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NEW YORK — Quiksilver Inc. on Monday reported a 24.7 percent increase in second-quarter earnings, citing strong sales in its worldwide operations.
The surf apparel company also said that it launched a tender offer on Monday for the publicly traded shares of Rossignol Group SA, a ski and snowboard manufacturer. Quiksilver said in March that it would acquire the majority holding of the Voiron, France-based Rossignol controlled by chairman Laurent Boix-Vives. The public tender is for remaining minority shares at $25.50 a share. The total $320 million deal is to close in July.
In the three months ended April 30, earnings at Quiksilver were $34.7 million, or 28 cents a diluted share, a penny ahead of analysts’ consensus. The company earned $27.8 million, or 24 cents, in the same quarter a year ago.
Revenues totaled $426.9 million, up 32.3 percent from $322.6 million a year ago. By geographic area, sales in the Americas rose 34.1 percent to $199.2 million, while European sales went up 25.7 percent to $176.3 million. Asia/Pacific sales increased 51.6 percent to $50.3 million.
“The upside to our plan for the quarter was broad-based and driven by better-than-expected results from each of our three regional operating groups,” Robert B. McKnight Jr., chairman and chief executive officer, said in a statement.
As for Rossignol, Bernard Mariette, president of Quiksilver, said in a statement, “Both the Quiksilver and Rossignol teams are strongly embracing our vision to become the number-one company in the global outdoor market.”
For the six months, Quiksilver had earnings of $48.9 million, or 40 cents, up 32.2 percent from $37 million, or 32 cents, last year. Revenues rose 33 percent to $769.7 million from $578.7 million a year ago.


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Looking forward to lounging around on a warm day with a cool drink in hand? While we still may be a couple of months away from high-temps and beach days, it doesn’t mean we can’t get started on the drinking with a refreshing new release from Blake’s Hard Cider Co.
The Armada-based company’s Blueberry and Strawberry Lemonades hit shelves this week. The pair of drinks are the first beverages in Blake’s new Farm Stand Series.
The Farm Stand Series —a “farm-to-can” lineup of hard beverages that the company plans to build upon in the coming year — is all about all-natural ingredients. Crafted on the Blake’s farm, the 6.5 percent ABV, gluten-free lemonades are made with an apple cider base with lemon juice and an infusion of real fruit. Blake’s officials say the drink delivers one-third less sugar than comparable brands.
“Our product portfolio is driven and based on what our fans like and want, which ultimately helped us create the Farm Stand Series, one of our most significant releases in 2021,” says Andrew Blake, founder of Blake’s Hard Cider, in a press release. “We enjoy the innovation side of pushing beverage boundaries and saw an opportunity to craft refreshing hard cider lemonades with natural flavors and lower sugar content that customers will enjoy.”
Blake’s Hard Cider Co.’s Blueberry and Strawberry Lemonades will be available for purchase at stores in 16 states and on the company’s website. Both lemonades come in 12-ounce six-pack cans, while the blueberry flavor is also available in a single-serve 16-ounce can.
For more information, visit blakeshardcider.com.


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Neiman Marcus Group Inc. chief executive Burton M. Tansky, who always bristles at the notion of retiring and turns 70 next month, has renewed his contract for another two years.
The contract was set to expire in October 2008 but has been extended to October 2010.
Tansky declined to comment on the contract. He has been at the helm of the Dallas-based chain since the early Nineties and has kept the business focused on luxury and profitability.
A Securities and Exchange Commission filing, which disclosed the contract renewal, lists Tansky's base salary at $1.3 million. The agreement also provides that the employment will automatically be extended for one-year periods after the term of the agreement expires unless, at least six months prior to the commencement of any one period, Tansky or the board decides it's time for him to retire. Tansky also serves as chairman and president of the corporation.
Last October, the Neiman Marcus Group formed an office of the chairman, throwing the spotlight on two veteran officials, Karen Katz and James Skinner, as leading contenders to one day succeed Tansky.
Katz is president and ceo of the Neiman Marcus Stores division and, as part of the chairman's office, she has the additional role of executive vice president of the group, entailing responsibilities for strategy, business development and marketing.
Skinner, senior vice president and chief financial officer, is included in the office of the chairman as well and is also executive vice president and chief financial officer of the group, with responsibility for information services.
The agreement calls for Tansky to work with "reasonable diligence" to identify a ceo successor, though the board can still undertake its own search. There has been widespread speculation that NMG, which Texas Pacific and Warburg Pincus bought in 2005 for $5.1 billion, could go public early next year via an initial public offering. The $4.4 billion company has been on a roll for years, and the luxury sector is generally holding up despite the nation's economic uncertainties stemming from the housing slump, credit crunch and rising fuel costs. The stock market and Wall Street bonuses have also abetted luxury sales, but both are shakier now. Still, Neiman's has been able to weather both good and bad economic times under the direction of Tansky, and his contract extension would give him time to guide Neiman's through an IPO.
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye


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Japan, Vietnam Kick Off FTA Talks
Associated Press 01.16.07
Japan and Vietnam began free trade talks in Tokyo, an official said Tuesday, following an agreement last year between the leaders of the two countries.
Officials began talks in Tokyo which are to continue through Thursday, an official of the Foreign Ministry said on condition of anonymity, citing policy.
Japanese Prime Minister Shinzo Abe and Vietnamese Prime Minister Nguyen Tan Dung agreed in October to start talks on a free trade agreement in January.
Japan is one of Vietnam’s top trading partners, and the two countries had been studying the possibility of inking a free trade pact. The two nations have not said by when they aim to sign an agreement, according to the official.


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Shopping may be gauche and down, but sales of firearms are up. (Um, yay?) According to ABC News, gun supporters are racing to buy up rifles before Obama cracks down on gun control. What? Why did you think people were buying guns?
ABC News: While shoppers are cutting back on almost everything, sales of one item are suddenly soaring — guns. Buyers across the country are snapping up firearms at a record pace…
“Everyone is here for the same reason: Buy it now or you’re not going to have a chance in the future,” said Charlie Street, a gun owner.
At Cheaper Than Dirt alone, more than $100,000 in guns and ammunition have been sold every day since Election Day. Buyers are stocking up before President-elect Barack Obama takes office…
The most frightening stat:
“You can’t find an AK-47 from a distributor anywhere in the nation,” Irwin said, looking at his computer and checking on inventory…
Obama says he supports the right to bear arms with reasonable restrictions. But that has not been enough reassurance for some people or enough to quell the spreading fear among gun owners.
Some guns are selling more than others. Assault rifles are especially popular because Obama supports renewing the expired federal ban on assault weapons.
Ok, seriously, why are civilians buying assault rifles to begin with?
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Automaker Ford has made some shifts at the top of the company. Jim Farley, currently responsible for new developments and technology as a director, will become an operational director.
Joe Hinrichs, who was president of the automotive branch since April last year, leaves the company on 1 March.
Earlier this week, Ford announced disappointing results at the end of the year. The automaker also came up with a profit forecast for this year that was lower than what analysts had expected.
Ford is amid a reorganisation that costs the company $ 11 billion.
CEO Jim Hackett has already cut the costs, decided to stop making small passenger cars for the American market and renewed his model range.
The latter also went wrong last year. The introduction of the new Explorer SUV faltered and put pressure on Ford’s profit in the second half of the year.
According to Hackett, the departure of Hinrichs, who was responsible, has nothing to do with the failed introduction.


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Allan Lanthier is a retired senior partner at Ernst & Young LLP and former chair of the Canadian Tax Foundation.
Liberal Leader Justin Trudeau suggested recently that while small businesses should indeed be paying a lower corporate tax rate, the rules should be tweaked to ensure that wealthier Canadians don't use the lower rate simply to reduce their tax bills. The suggestion precipitated howls of outrage from other political parties and business advocacy groups. But Mr. Trudeau's comments invite debate on a broader issue: Is it time to abolish the preferential rate altogether?
The small-business deduction reduces the federal tax rate on the first $500,000 of annual business income earned by a Canadian-controlled private corporation (or by an associated group of such corporations), provided taxable capital does not exceed $10-million. The federal small-business rate is 11 per cent, and the general federal rate is 15 per cent, a four-percentage-point differential.
The 2015 Canadian federal budget announced a further two-percentage-point decrease in the small-business rate (to 9 per cent) to be phased in over four years. The New Democrats have also proposed a 9-per-cent small-business rate, and the Liberals also seem comfortable with the general concept of a lower rate. Rarely has such a simple issue been misunderstood by so many.
It is true that many small businesses have only one or two employees (including, for example, professionals who may incorporate primarily to avoid personal taxes and access the lower corporate rates), and that an incorporated small business may benefit from income splitting and other tax-planning arrangements.
It is also true that there is no tax rule requiring that savings from the lower rate be invested in the business. However, Industry Canada estimates that 70 per cent of Canada's non-government labour force is employed by small businesses, and so surely a few percentage points of tax (and a bit of tax planning by wealthier Canadians) is a small price to pay to encourage job creation and economic growth. Or is it?
Based on Department of Finance estimates, the existing four percentage point differential reduces annual federal tax revenue by more than $3-billion. If the small business rate is further reduced to 9 per cent, the annual cost will be more than $5-billion. This is a significant cost that other taxpayers must bear, and there is little if any economic evidence supporting the proposition that the lower tax rate contributes to job creation in any significant way.
This is not surprising: A small business that takes full advantage of the lower rate this year would save just $20,000 (4 per cent of the $500,000 limit), hardly a springboard for business expansion. But with close to 700,000 small businesses claiming the lower rate, the aggregate cost is significant indeed.
Britain faced a similar problem. In 2006, its general corporate rate was 30 per cent, versus a small profits rate of 19 per cent. The 2007 budget announced a reduction in the general rate and an increase in the small profits rate, to reduce the differential between incorporated and unincorporated businesses, and to discourage individuals from "incorporating as small companies to avoid paying their due share of tax." In April of this year, Britain repealed the small profits rate altogether, and all British corporations are now taxable at the general rate of 20 per cent.
There is no doubt that small businesses are critical to job creation and economic growth in Canada. But it is precisely because they are so critical that it is important that tax incentives be as targeted and effective as possible. The small-business rate is neither, and it is time to stop spending billions of dollars of our federal taxes every year on a program of such dubious merit.
The Canadian economy – small businesses included – would be better served by a complete repeal of the lower rate, replaced by targeted measures such as tax credits and accelerated deductions for capital expenditures by small business.


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BYD Company Ltd. BYDDF BYDDY achieved record sales in August, according to data filed with the Hong Kong stock exchange.
The Shenzhen, China-based company sold 82,678 battery electric vehicles (BEV) in August. That's up 172% from a year ago. Sequentially, the increase was a more modest 2%.
BYD’s BEV production climbed 170% year-over-year to 84,573 units in the month.
Along with the 91,299 units of plug-in hybrids the Warren Buffett-backed company sold, its August tally was at 173,997 vehicles. This compares to 174,480 cars produced during the month.
BYD’s performance places it ahead of domestic rivals Nio Inc. NIO, XPeng, Inc. XPEV and Li Auto Inc. LI.
Preliminary data released by the China Passenger Car Association on Thursday showed that EV pioneer Tesla, Inc.’s TSLA China wholesale sales, including domestic sales and export, were at 77,000 in August, according to Reuters.
|Sales (units) Change (Y-o-Y) Change (M-o-M)|
|BYD 82678 +172% +2.0%|
|Nio 10,677 +81.6% +6.2%|
|XPeng 9,578 +33% -17%|
|Li Auto 4,571 - 52% -56%|
BYD completely transitioned to new energy vehicles — an umbrella term used in China to refer to plug-in hybrids as well as BEVs, earlier this year.
The company continued to deliver even amid the peak of the COVID-19 resurgence in China in April when the rest of its peers reported sales declines. The company also has a thriving EV battery manufacturing business.
Price Action: BYD’s stock came under pressure recently, when Buffett trimmed his stake in the company.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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By: Andrew Seale Special to The Star
For small businesses, the holiday season requires a surplus of stamina and, in many cases, extra capital to keep up with heightened demands for products and services.
It’s that crunch for operational cash that Steven Uster a – Toronto-based investment banker – hopes will spell success for his recent endeavor, Zillidy . Equal parts pawn shop and lender, the service gives clients cash in exchange for physical assets, such as jewelry, luxury watches and precious metals.
It works like this: an individual or small business owner ships assets to Zillidy’s appraisers who then make a 3-month term loan offer based on their value. If accepted, cash is deposited directly into the client’s bank account. If the client wants their asset back before the three months is up, they pay an interest fee of around 0.1 per cent and whatever balance is outstanding. If they can’t repay the loan, Zillidy sells the assets and sends the client any extra money made on top of what’s owed.
Uster says Zillidy – which officially launched last month– could become a valuable tool for small businesses in need of quick cash.
“It lends itself to the (entrepreneur) who owns a retail store and needs to buy inventory, hire staff, make payroll or buy something for the business,” says Uster, adding that the holiday season is a prime time to borrow.
He started Zillidy as a way to offer loans for up to $500,000 without forcing businesses or individuals to pay hefty legal costs and undergo the time-consuming application processes required by most lenders.
“It’s more like an emergency repair kit than it is an ongoing form of funding,” says Steve Pulver, a professor of entrepreneurship at York University’s Schulich School of Business, adding that “alternate forms of financing are always good for entrepreneurs.”
“There’s a lot of innovation in the alternative finance space around the world, but Canada tends to take a little bit of a longer time to get acquainted with it,” says Pulver, adding that Zillidy is “a great bridge, but it’s likely not good for the long term because it’s expensive.”
Zillidy’s annual interest rate sits at 34.8 percent, far above loan interest rates and even higher than credit cards, which usually hover around 21 to 28 percent.
That’s why Uster is banking on small businesses and entrepreneurs looking for quick cash.
“Imagine you are a snow removal guy or a landscaper and you have the opportunity to buy all your salt at a big discount because it’s off season,” says Uster. “The interest cost is offset by the money saved”
In entrepreneur Naftal Sadikov’s case, Zillidy provided the capital to add to the lineup of his Toronto-based medical supply business, Transwell Medical Centre. The capital let set up another wing of the business to distribute machines for treatment of spider veins across Canada.
“We need to rent a unit for training, a few office supplies and to pay for equipment,” he says, adding that Zillidy’s model was attractive because it let him deal with a private company -- instead of a bank -- and get cash quickly.
Zillidy currently only focuses on jewelry and precious metals, but Uster says he plans to eventually accept luxury vehicles, fine wine and even art collections – the company just needs proper storage facilities.
“Entrepreneurs are keenly aware of the value of their assets,” says Uster. “I think it’s just a matter of time before (this model) takes off.”


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By Usanee Mongkolporn
Mobile-phone operators say they will demand that new prepaid customers register their SIM cards with their shops, in line with the telecom regulator's launch yesterday of an app-based registration method.
The registration service was already available yesterday at some shops in Bangkok, for existing as well as new subscribers. It is to be available in shops in major cities by July 15 and nationwide by the end of next month, said National Broadcasting and Telecommunications Commission (NBTC) secretary-general Takorn Tantasith.
The NBTC introduced its “two-shots” app to telecom operators yesterday. As part of the registration process, the operators’ staff selling the SIM card will download this application on to their own mobile phones. They will use the app to take a picture of the SIM card code and the buyer’s ID card.
Then the app will immediately send these data to the NBTC’s computer server, which is connected with the servers of the five telecom operators. The NBTC server will verify the identity-card information, and if correct, will send the verified data back to the telecom operator’s server, which will activate the SIM card.
The data will not be stored in the mobile phones of shop staff, so the buyers need not worry about security. Expatriates who don’t have Thai ID can use their passports.
Advanced Info Service’s vice president for product marketing, Anake Anantwatanapong, said AIS would not sell prepaid SIM cards to potential customers if they decline to register the cards with the shops.
The NBTC imposed regulations requiring the operators to register information of the buyers of new prepaid SIM cards years ago but few consumers cooperated, reluctant to provide copies of their ID cards. The telecom firms have faced daily fines for failing to register their prepaid users.
The commission believes that this app-based method will make registering much more convenient for consumers. Takorn said the new method was aimed at preventing the use of mobile phones in any way that could cause damage to the country or for illegal purposes.
Of the total of about 100 million mobile-phone numbers currently in use in Thailand, 90 per cent are prepaid. However, only around 10 per cent of the prepaid users are registered with the operators.


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Willy Kruh is KPMG's global chairman of consumer markets.
After years of unprecedentedly low interest rates, the Bank of Canada made the decision this summer to raise its key rate on two occasions. While historically, a rate of 1 per cent is incredibly low, raising it further is giving Canada's business community concern.
With speculation that the central bank could raise rates again this year, we have to go back all the way to January, 2009, to find the last time it was above 1 per cent. This means Canadian consumers and businesses have been benefiting from near-zero lending rates for almost nine years. Bank prime was 4.5 per cent just prior to that – a number that seems unfathomable to many today.
Canada's C-Suite thinks the recent hikes will hurt their bottom line and more than two-thirds oppose further increases. On top of the C-Suite's concern for their own companies has to be concern about the health of Canadian consumers. With long-term low rates, consumers did exactly what the Bank of Canada wanted us to do – borrow and spend to get our economy out of the recession. But years of cheap money also meant we racked up debt at a record rate and today, for every dollar of household disposable income, Canadians hold a staggering $1.68 in debt.
While a half-percentage-point climb in mortgage rates isn't likely going to lead to a slew of defaults, it does mean consumers will have less money to spend elsewhere. Those recent hikes mean the annual cost of carrying a $500,000 mortgage went up $2,500 and, when added to higher payments to cover car loans, lines of credit and other debt, consumers are feeling the financial squeeze. With consumer spending representing close to 60 per cent of Canadian GDP, this is a dangerous tightrope to walk.
Canadian business leaders are also starting to worry about where the United States is headed on NAFTA negotiations. In March, there was a near unanimous viewpoint by the C-Suite that the U.S. administration would seek only minor tweaks. Now, seven in 10 believe there will be major changes to the deal and 40 per cent think it's somewhat likely the United States will terminate NAFTA altogether.
While only time will tell where the negotiations will land, the risk that NAFTA will be torn up should be a wake-up call to Canadian business about the long overdue need to diversify our trade globally. I had hoped that following a financial crisis that nearly crippled the United States and much of the global economy we would have seen more domestic firms get serious about venturing outside of Canada and trading with other markets, but that just hasn't happened. According to Statistics Canada, in 2011, 72 per cent of Canada's exports went to the United States. By 2016, that increased to 75 per cent. In absolute terms, the value of exports to the United States climbed about $63-billion over that period and by less than $2-billion with the rest of the world.
I believe the United States will always be our largest trading partner and greatest friend, but Canadian businesses have to look stateside far more often than they do now. Today, Canada has 11 free-trade agreements currently in force outside of NAFTA – but you wouldn't know it looking at the current percentage of trade with the United States. The new Canada-European Union Comprehensive Economic and Trade Agreement (CETA) holds great promise. Currently, this market represents only about 8 per cent of our exports. The Trans-Pacific Partnership (TPP) also holds great promise, with or without the United States.
No matter what the outcome of the NAFTA negotiations, the issues and rhetoric that have clouded these talks clearly demonstrate the perils of relying mainly on one trade partner.


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BIG Launcher takes a smartphone's core functionality and crams it into an interface that's easier on senior citizens and other people with vision problems. BIG Notifications, a new app from the same developer, gives a phone's notifications the same treatment.
While BIG Launcher is simply a homescreen replacement, BIG Notifications doesn't seamlessly replace your notification shade. Instead, the app creates a copy that's written in a bigger font, which you can access through a persistent notification. Read More
Not content to simply blur the line between conventional smartphones and tablets like manufacturers around the world are already doing, HP has decided to completely erase any distinction between the two. This morning the company announced that its first smartphones since the ill-fated HP Pre 3 in 2011 won't be "phones" at all, but rather "voice tablets," competing with low-cost, big-screen models like the Galaxy Mega. Re/code reports that the two inaugural Android devices, the Slate 6 and Slate 7, will be introduced in India next month. Read More
Last week, Vine introduced its "biggest" update yet … for iOS. The update brought along a handful of improvements in Vine's ongoing effort to improve the product and galvanize it against Instagram's new video functionality.
Today, Vine brought the update to Android. Along with a new version number (1.3.1), users will gain access to new video channels, with the ability to browse or upload to specific content-related channels. The updated Vine debuted with fifteen channels including categories like comedy, music, and nature. Read More
We first heard about the Jambox's larger sibling, the BIG Jambox, just over a year ago. At the time, it promised to be bigger (of course) and better than the original, offering a bigger battery, a wall power adapter, and "unbelievable sound". If reviews are to be believed, the Jambox managed to deliver good sound and power, while maintaining the unique design language of its smaller counterpart.
If you're in the market for a Bluetooth speaker, the BIG Jambox is a decent choice, and Amazon's sweetened the prospect by putting the device on sale for $249.99, down $50 from its usual $299.99 price. Read More
Like most in the Android world, I've been steadily increasing my comfort zone on how big a screen I want. Back in the day, I was obsessed with getting my phone as small as possible, like Zoolander. Then I got my first smartphone in the Windows Mobile 6 days, and ever since then every device I get has a bigger screen than the last, and I end up being happy about it. Read More
Encouraging players to "go for the big win," Hothead Games recently released Big Win Football to the Play Store. The makers of the artistic masterpiece that is Machinarium and the similarly sports-minded Big Win Soccer have added another entry to their catalogue of "Big Win" sports games, bringing the same customizable, competitive and unique gameplay dynamic to football fans, allowing them to create their own customized dream team, play against opponents online, and enhance player skills with game-changing boosts. Read More
Jawbone's popular JAMBOX Bluetooth speaker is going to be getting a younger, but much larger sibling dubbed simply BIG JAMBOX soon. This information comes from a recent FCC filing (via WirelessGoodness) which doesn't seem to reveal much of anything past the new name. However, armed with this knowledge, I was able to dig up an earlier report by iLounge which caught wind of something they called JAMBOX BIG back in November. Read More
Yesterday afternoon, @SamsungMobileUS revealed that the company would be launching a "device so revolutionary only an ad in America's biggest game [the Super Bowl] can do it justice." Many on Twitter and across the web assumed it would be the Galaxy S III or a new tablet; while it was doubtful in light of recent rumors that it would be the SGSIII, the new tablet idea was at least feasible.
As it turns out, Samsung is "revealing" the U.S. Read More
Droid-life just broke the news: the Revolution is coming, on May 26th, to be precise.
That's right - the LG Revolution, Verizon's third 4G LTE smartphone, is dropping next Thursday to a Verizon near you - packing a 4.3" WVGA display, a 1GHz MSM-series Snapdragon processor (same one you'll find in the Thunderbolt), and a 16GB SD card pre-installed.
The revolution has received a cosmetic touch-up for its debut next week, and now sports a sleek black battery cover and frame (it was brushed aluminum-look, previously), take a look:
We took a look at the Revolution (hands-on here) way back at CES in January, and I had some time to play with it at CTIA back in March. Read More
Make no mistake, the DROID Charge is a cool phone. It looks cool. Its boot screen looks cool. Hell, even the camera has been carefully crafted to look like some sort of crazy piece of future-tech.
In the past week, I've had three separate people ask me what phone it was (something that I never experienced with my Nexus One or the HTC Inspire), and then proceed in some way to compliment its appearance or the vividness of its display. Read More


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The new Library Edition will include previously-uncollected issues and bonus material.
The new trade paperback includes both volumes of the superhero parody series.
Published by Titan Comics, Tank Girl Full Color Classics 1988-1989 #1 celebrates the 30th anniversary of the tank loving and mutant kangaroo dating female outlaw. Though they were first released in “glorious” black and white by writer Alan Martin and artist Jamie Hewlett, these re-released classics now are in full color, fulfilling how its creators would have loved to see them 30-years ago.
In August 2017, ComicMix launched their Kickstarter for Mine!, a comics collection benefiting health services organization Planned Parenthood. Mine! features contributions from Eisner-Award winners and nominees to independent creators and up-and-coming artists, aimed at celebrating freedom and choice, and to help dispel myths and misconceptions about sex, gender and reproductive health. Fortunately, the Kickstarter was […]
By: Nicholas Eskey Hasbro Entertainment, the fine purveyor and partner to franchises like; Transformers, My Little Pony: Friendship is Magic, Nerf, and Magic the Gathering, has continuously been growing and developing their branding. So loved are their toys that there’s always a run on something deemed even remotely collectible. I along with the other press […]


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Jatinder Grewal started making electronics and robots as a teenager. He is now running a technology start-up that is taking the world by storm.
After just two years in business, Hind Technology, which designs and builds software and electronics to control robots, is struggling to keep up with demand.
“Our products are engineered to make CNC machine usage simple and reliable with the best price point,” says Mr Grewal.
His specialised control board, called Masso, offers an all-in-one solution.
It is designed from the ground-up on a custom built hardware platform that includes all the inputs and outputs to control machine axis and spindles.
All the required hardware is built into the system and the user only needs to connect a LCD screen through VGA cable and a standard USB keyboard.
“With our unique dedicated architecture the machine can be used as a controller without requiring any PC.
“Our controllers are compatible with most of the standard motors/drives and can be easily interfaces with standard CNC equipment.”
Hind Technology now exports to more than 20 countries and is looking to expand into more overseas markets.
Surprisingly, the US, a global leader in robotics, is now its core biggest market.
And online sales continue to grow.
The company is seeing orders roll in from overseas hobbyists and manufacturers across the globe.
"It's unbelievable — you wake up and then you see a couple of orders in your email and you've been paid while sleeping," Mr Grewal said.
With sales doubling monthly over the past three months, Grewal predicts the company will be turning over $700,000 a month by December if growth continues at the same rate.


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Magic Silk and Male Power of Hauppauge, New York, are pleased to announce that Steve Hirsh has joined the companies as Director of Domestic and International Sales.
Hirsh spent the last six years working at Evolved Novelties/Zero Tolerance Entertainment, where he served as a sales representative for one of the nation’s fastest growing adult novelty and video companies. Prior to that, he worked in the consumer electronics industry for over two decades, including ten years as the National Product Trainer for Pioneer Electronics.
The continuous growth of Male Power and Magic Silk has demanded a substantial increase in staff size, according to President Jeff Baker, and “someone with Steve’s outstanding track record and depth of experience will be a huge asset to both companies.” Hirsh will be charged with expanding their market share and increasing worldwide sales.
“I will be bringing some exciting ideas learned from the novelty side of the adult business to the lingerie side,” Hirsh points out. He will generate more vendor meetings and involve the companies in other trade shows and distributor events. Additionally, he will visit more customers in person, at both their stores and offices, to promote personal relationships.
Transitioning to his new position should be relatively easy, Hirsh emphasizes. “This company is very similar to Evolved, in that it highly values merchandise quality and service. And the staff is extremely professional and deeply passionate about their products. We speak the same language, and that should make my job here easier, more enjoyable, and very productive.
Baker is confident that Hirsh will help Male Power and Magic Silk reach a whole new level of success. “Steve is highly respected in the industry for his knowledge, insight, integrity, service orientation and bright personality. We warmly welcome him to our talented team.”


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Soy milk — No substitute for cow’s milk in toddlers
Increasingly, parents are giving their toddlers plant-based drinks such as soy or rice milk rather than cow’s milk but this is not without risks, US experts say.
In an article in JAMA Pediatrics (1), three child health specialists cite US statistics that show in the period from 2012 to 2017 the consumption of these plant-based drinks, across all age groups increased by 61%.
But of particular concern is the increased intake among toddlers. We don’t have great data on this however there was a study in 2016 – the Feeding Infants and Toddler Study – involving over 3, 200 two to four year olds – which showed 5% were consuming plant-based beverages. This was much higher than previous studies.
So the real question ...


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Notre Dame unveiled its alternate uniform for the Shamrock Series game against Wisconsin on Sept. 25.
Under Armour was promised their logo on pinstripes at Yankee Stadium and MLB-be-darned… by golly they’re going to get it! UA and Notre Dame today unveiled the uniforms the team will wear for their annual Shamrock Series game against the Syracuse Orange at Yankee Stadium on November 17th. Unlike most
The Notre Dame-centered Shamrock Series is making its way to Boston this season, and the team’s annual “Home game away from home” will be hosted at Fenway Park this year. They’ll be facing the Boston College Eagles, and while BC has decided to go faux-back for the special occasion, Notre
During this offseason, college football blueblood Notre Dame switched uniform manufacturers, ending their previous relationship with adidas in favor jumping to Under Armour in one of (if not the most) lucrative apparel deals in college sports history. Now, fast forward to August and with football season within arm’s length, the
Notre Dame has taken to wearing a special uniform in one game a season, and calling it their Shamrock Series. We have covered it in full in the past. This years’ edition is another departure, though this time not as severe as last. The Irish will be wearing a gold
Notre Dame has partially scrapped the golden domes on their helmets. Or exactly 1/3rd which is now navy blue. The Irish announced their Shamrock Series uniforms for their game in Chicago against Navy. The good news is, its for one game only. The bad news is, its almost 100%