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Oppo, the Chinese smartphone maker, launched the Reno7 Series in the home country last week. The Reno7 Series consists of three models – Reno7 5G, Reno7 Pro 5G and Reno7 SE 5G. Last week, we also heard that the company is now planning to launch the Reno7 Series in India next year. As per a report, Oppo will bring only two models in India – Reno7 5G and Reno7 Pro 5G. Ahead of their launch, the price range of both models has been leaked online. Oppo Reno7 Series & Enco Free 2i Launched; Check Prices & Other Details Here.
Oppo Reno7 5G is said to be priced between Rs 28,000 to Rs 31,000. On the other hand, the Reno7 Prp 5G is likely to cost between Rs 41,000 to Rs 43,000. The Reno7 SE 5G will not debut in India. The company also plans to introduce new TWS earbuds in India along with the Reno7 Series.
In terms of specifications, the Reno7 smartphone will feature a 6.43 FHD+ AMOLED display with a refresh rate of 90Hz. It will come powered by a Qualcomm Snapdragon 778G processor coupled with up to 12GB of RAM and up to 256GB of internal storage. For photography, the Reno7 device will feature a 64MP main lens, an 8MP ultra-wide-angle camera and a 2MP macro snapper. At the front, there will be a 32MP snapper.
On the other hand, Oppo Reno7 Pro 5G will sport a 6.55-inch FHD+ AMOLED display with a refresh rate of 90Hz. Under the hood, it will come powered by MediaTek Dimensity 1200 Max chipset paired with up to 12GB of RAM and up to 256GB of internal storage. For optics, the handset will get a 50MP main camera, an ultra-wide-angle lens and a 2MP macro shooter. Both Oppo Reno7 and Reno7 Pro 5G will come packed with a 4,500mAh battery and will run on Android 11 based ColorOS 12.
(The above story first appeared on Fresh Headline on Nov 29, 2021 05:09 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website freshheadline.com).


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Five wines that have beaten the FTSE 100 - and the five that will
The best investments, like the finest wines, grow their value with age.
So it is little surprise that around a third of high-net-worth individuals have invested in a wine collection, according to a survey by Barclays Wealth and Investment Management.
Investing in wine has morphed from a passion project for those with cash to burn into a $6bn (£4.7bn) industry; it even has its own index, the Liv-ex Fine Wine 1000, which tracks the prices of the most sought-after wines in the market.
It's been hailed as a safe haven that could offer protection in economic downturns: but how do you go about investing and which are the labels not to miss in your portfolio?
Read the full article at: https://www.telegraph.co.uk/investing/shares/five-wines-have-beaten-ftse-100-five-will/

domain: news


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Here are the top 10 stories from Tech News Today for July 16, 2013:
- Engadget passes along that Calcalist reports Apple is in early talks to buy PrimeSense. Recognize the name? They're the company that made the original hardware and chip used in the first generation Microsoft Kinect. They also make the tech in some lesser known 3D sensing products like the Asus WAVI Xtion and EyePlay by EyeClick. A source from PrimeSense poured cold water on the idea, telling TechCrunch it was "a delusion based on unverified and twisted hints." The source also scoffed at the $280 million valuation mentioned by Calcalist, saying PrimeSense is worth 10 times that. Read more at engadget.com.
- AT&T will start offering its flexible “Next” plans for smartphones and tablets, on a post-paid basis on July 26th. Customers can trade in their smart devices every 12 months, provided the customer pays a monthly installment fee based on a 20-month cycle. So for example, you would take the full retail price of an iPad, divide it by 20 and add that cost to your monthly AT&T plan. After 12 months, you can trade in that iPad for a new device, and your cycle starts over. Read more at allthingsd.com.
- Apparently, Apple is still working on some kind of TV service. According to former Wall Street Journal reporter Jessica Lessin, Apple approached networks and cable companies with a service that would allow premium subscribers to skip ads. Customers would pay Apple for the service and Apple would pay the networks and cable companies for lost revenue. Will it work? Stay tuned, gumshoes. Read more at theverge.com.
- Apple announced the launch of Logic Pro X, the latest version of its pro audio software that competes with the likes of ProTools. The extensive revamp brings a new virtual drummer and integrated pitch editing, as well as a free iPad companion app. Logic Pro X sells for $199.99 in the Mac App Store. Companion live performance app MainStage 3 is also out for $29.99. Read more at macrumors.com.
- A secret court has ruled that Yahoo will be allowed to prove that it fought against the National Security Agency’s Internet spying program, PRISM, and conduct a declassification review. Yahoo, Google and other Internet companies are fighting against the Federal Government's gag order that prevents them from disclosing more details about the program. As information leaks out, it's been revealed that Yahoo already lost a fight to prohibit the government from monitoring its users. Read more at techcrunch.com.
- Guess where Gowalla Co-founder Josh Williams won't be checking into any more? Facebook. Williams joined Facebook back in 2012 when Gowalla was swallowed whole by Zuckerberg and company. Williams hasn't posted any information as to why he left and what he will do next, but AllThingsD's sources say he will start working on a new company in San Francisco. Read more at allthingsd.com.
- Want to split a cab? Uber just made it easier. Tap the arrow by the driver's name in the latest version of the Uber app and you'll see a split fare button. You can then add your ridemate from your contacts list and they'll get a text prompting them to launch their Uber app and agree. All fares are split equally. Read more at techhive.com.
- If you're looking a phone running Firefox OS and the Alcatel One Touch Fire and ZTE don't wow you, maybe you'll like spanish company Geeksphone's Peak+ or the lower-end Keon. Both are for developers who want to contribute to Mozilla's Firefox OS project or to make sure their Web apps will work on the browser-based OS, but Geeksphone says it will sell a "new and improved" version of the Peak for consumers, too. Read more at news.cnet.com.
- The LG Optimus G Pro is coming to 40 more countries soon across Europe, Russia, the Middle East and Latin America. The phone has a user-replaceable battery and a pretty 1080p 5.5-inch IPS LCD display along with dual-camera video recording. Sharif Sakr at Engadget reports no update on UK availability. Sorry Brits. Read more at engadget.com.
- Chinese Android handset maker Xiaomi sold 7.03 million handsets in the first half of this year racking up $2.16 billion in revenue. In 2012, the company made under a $1B for the whole year. If you're unfamiliar with Xiaomi (like I was this morning) the company was founded by Lei Jun and made headlines when it introduced the Xiaomi Phone - a low cost smartphone in 2011. Oh, and the company is rumored to be working on a Smart TV - so take that, Apple. TV rumors for all! Read more at techcrunch.com.
For insight, analysis, and discussion of these topics and more, check out Tech News Today for July 16, 2013.


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4 Big Trends at CES 2016: Cars, Wearables, Laptops, and Accessories for Everything
This year’s Las Vegas Consumer Electronics Show doesn’t actually kickoff until today. But that hasn’t stopped companies from taking over the days leading up to the official opening with plenty of press conferences.
A quick survey of the gadgets and services announced at those early press events can be broken into four main categories: Smart cars; accessories; laptops (and tablets that think they’re laptops); and wearables. Here are some of the most interesting announcements we’ve seen so far.
A fleet of car news
This year’s pre-CES announcements have included a couple of fun new advances in car tech — and some interesting partnerships.
Microsoft has teamed up with Volvo to bring some vehicle function controls to its Band 2 fitness wearable. Similarly, Ford and Amazon have hooked up to link the Echo to its connected cars, meaning you’ll be able to unlock your vehicle from inside your home or ask Amazon’s Alexa system questions from behind the wheel.
Ford has also announced that it’s unleashing the largest crop of self-driving test-cars in the auto market, featuring new, more advanced self-driving sensors. And car-audio vendor Harman has announced that it will be bringing Microsoft Office to car consoles — though probably not in time for you to do this year’s taxes from the drivers seat.
Accessories you didn’t know you needed
Though Apple itself isn’t at the show, accessories for Apple gadgets most definitely are.
Griffin has come out with a portable Apple Watch charger to help you get your expensive timepiece through the day without dying. And (along with a slew of other new USB-C adapters) the company has also developed a Magsafe converter for Apple’s new MacBook USB-C charger.
For Apple and Android mobile devices, the new Bixi gesture-sensing accessory allows you to control your device when your hands are full or wet/cruddy.
In the domain of home tech accessories, a company called Sevenhugs has unveiled a buttonless smart remote that, after being programmed, will detect what it’s being pointed at and change its touchscreen face to provide the appropriate controls.
Even the burgeoning space of virtual reality tech is getting accessory add-ons this year. The new 3DRudder VR game controller for your feet lets you explore virtual worlds while leaving your hands free.
When it comes to computer hardware world in 2016, originality apparently is not high on the list of design requirements.
LG’s new 15-inch MacBook knockoff looks so much like the original, it’s almost embarrassing. Sure, it’s a few inches larger than Apple’s gold laptop, and it runs Microsoft’s Windows 10 OS. But otherwise it’s a veritable clone. HP has also come with a laptop playing off of the 12-inch MacBook, featuring USB-C ports on a super-slim body that measures just a hair slighter than Apple’s newest laptop.
Meanwhile, Samsung is announcing a Microsoft Surface imitator. Dell and Lenovo, of course, have Surface-like hybrid models of their own. But Samsung’s looks to be the thinnest of the bunch – even slimmer than the actual Surface Pro 4.
Lenovo, on the other hand, continues to copy itself, with new flavors of its ThinkPad Windows laptops. This year’s models follow the same design style set by IBM’s 1990s ThinkPad machines, with obvious injections of sleekness and up-to-date PC innards.
Wearing on and on
Based on what we’ve seen ahead of this year’s CES, looks like we’ll be wearing even more tech soon.
In 2016, HTC has already announced a glitzy partnership with UnderArmour to bring a suite of UA-branded fitness-tracking wearables to the market. There’s the UA Band for tracking your steps and calories burned, the UA Heart Rate for precise pulse measurements, a UA body scale, and connected shoes called the SpeedForm Gemini 2. All devices hook into the UA Record app to measure your progress against your resolved New Year’s fitness goals.
Fitbit has also pulled the curtain back on its first smartwatch, the Fitbit Blaze. Based on the precipitous fall in Fitbit stock that met the announcements, investors were not impressed with the gadget’s awkward design. The new Ray fitness and sleep tracker by connected device company Misfit, on the flip side, is being lauded for its fine looks.
In the field of linguistics wearables, real-time translation necklace ili looks to help you get by in foreign-language countries by speaking out translated versions of whatever you say into it. The first model will support Japanese, English, and Chinese languages, with future iterations to include more. Availability will be announced in the spring.
Stay tuned to Yahoo Tech for more CES 2016 coverage to come.
Email me at firstname.lastname@example.org. Follow me on Twitter at danielwbean.


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Transdr — the world’s very first dating app exclusively for transgender everyone — has been harshly criticised.
After the software drew criticism recently, a Transdr spokesperson told PinkNews how software promises to fix blunders with regards to vocabulary and features.
Although Tinder, Grindr and OkCupid enable customers to set her identity as transgender, as a trans guy, trans woman, and gender queer, there has maybe not come an explicitly trans internet dating app area up to now.
Transdr co-founder Sean Kennedy recently released PinkNews toward app by expressing the necessity for an explicitly trans matchmaking provider, specially as more trans-friendly web sites have actually closed.
“whenever places eg Craigslist’s personals section, Backpage and Hungangels’ discussion board need shut, it offers pressured some trans individuals to pick newer rooms in order to satisfy some other trans individuals,” stated Kennedy.
“We feel trans individuals were handled unfairly on Tinder every once in awhile. There Must Be an app understanding about all of them better and which makes them feel at ease.”
However, within weeks of this introduction regarding the software, most transgender men and women got to social media marketing to heavily criticise a number of the app’s qualities and summaries.
One of the most significant grievances had been using several derogatory terms and conditions both in advertising the app as well as the software itself.
(image: TranimeGirl /Twitter)
“‘Transdr is actually a TS dating and social neighborhood for transgender, crossdresser people…’ plus it continues on to make use of what shemale, lady son and sissy child. Wow, there’s a hot mess,” one Twitter individual wrote.
These statement – which have been regularly utilized as insults against transgender anyone – comprise initially warranted by a Transdr representative as actually useful for advertising reasons, allowing the software to be found more quickly searching applications and around the app stores.
When asked whether the app still supported the use of these terms after the complaints, a Transdr spokesperson told PinkNews that while there was a benefit to using such loaded terms, they had made the decision to remove them.
The representative stated: “Those conditions have a good amount of queries on the internet and app store.
“We would argue that [being quickly entirely on search engines] furthermore contributes to the consumer experiences. The most important thing for a dating app is to get as many new users as possible to give its users more choices.
“If we are succeeding in getting new registered users to Transdr, our customers can find the right people convenient and quicker.
“However, we care about our very own consumers considerably and we have eliminated those terminology on our very own official webpages. Also, we will take them of throughout the app title.”
Another problem that had been showcased by users is the decreased non-binary selection inside the app.
Software people were given the choices to establish as man or woman, along with feminine to male (FTM) or male to female (MTF).
Non-binary Transdr customers were compelled to either identify as a digital gender or “other,” which many stated was unfair for a trans centered app.
Transdr said that they’d planned to integrate a non-binary option, but it absolutely was got rid of in error and will be added to a following change.
The software had earlier asserted that Transdr was for trans people in addition to their “admirers,” compelling complaints from the app for promoting “chasers” – which, individuals who fetishise trans visitors – rather than keeping the software special.
(Picture: Aimee_M_Moran / Twitter )
Transdr have recognized this as another error.
“We posted Transdr pretty quickly because Craigslist personals is sealed,” a spokesperson stated.
“There are numerous imperfect places on official site together with software. It’s an error.”
They afterwards extra: “In the end, we chosen that Transdr is just for trans everyone. We are going to eliminate ‘and her admirers.’”
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As part of this partnership, Amazon will conduct various such training events and workshops across the country with FICCI-CMSME, focused on its Global Selling Program which lets Indian sellers sell to customers across 10 global marketplaces.
"The number of digital buyers worldwide is expected to grow to 2.07 billion in 2019 from 1.3 billion in 2014. E-commerce shopping is a thriving market, with people increasingly choosing this option to order products and services at their convenience. Realizing the potential of the sector and the opportunities for the B2C product manufacturers especially MSMEs, FICCI-CMSME has partnered with Amazon to create the awareness about the potential and take the maximum benefit of this platform,” Sanjay Bhatia, President, FICCI-CMSME said in a statement.
There are currently 32,000 sellers part of the Global Selling Program with 90 million of their products listed across 10 international marketplaces.
“As part of our efforts to support the growth of Indian exporters in the emerging digital economy, we are excited to partner with FICCI-CMSME. Our partnership will help Indian exporters take their ‘Made in India’ products directly to millions of active customers across the globe through 10 global Amazon marketplaces,” Abhijit Kamra, Head - Global Selling, Amazon India, said in a statement.
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Disney has announced that it is going to be increasing the price of its streaming service, Hulu on October 8th 2021.
The price will be going up a dollar for both the ad-supported and ad-free subscription.
Hulu’s new price will be:
Ad-Supported – $6.99
Ad-Free – $12.99
The Disney Streaming Bundle, which includes Disney+, Hulu and ESPN+ won’t be getting a price rise, since it got one earlier this year.
Hulu is the leading premium streaming service offering live and on-demand TV and movies, with and without commercials, both in and outside the home. As part of Disney’s Media and Entertainment Distribution segment, Hulu is the only service that gives viewers instant access to current shows from every major U.S. broadcast network; libraries of hit TV series and films; and acclaimed Hulu Originals including ‘Love Victor’, ‘Handmaid Tale’ and ‘Only Murders In The Building’.
During the last quarterly financial results, it was revealed that Hulu currently has a total of 42.8 million subscribers, with 39.1 million subscribed to its SVOD subscription and 3.7 million subscripted to its live TV and SVOD plan.
What do you think of Hulu increasing its price?
Roger has been a Disney fan since he was a kid and this interest has grown over the years. He has visited Disney Parks around the globe and has a vast collection of Disney movies and collectibles. He is the owner of What's On Disney Plus & DisKingdom.


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Microsoft's Windows Phone team end 2011 with some good news as the Windows Marketplace reaches the psychological barrier of 50,000 applications submitted to the mobile platform's app store, reports Rafe Blandford of All About Windows Phone. Their data tracking system saw the milestone passed overnight, and confirms Windows Phone as the second fastest growing app store after Apple's iTunes.
From a standing start with no handsets and no apps, to reach this mark in just 14 months should be considered a Microsoft success. For the record, Android took 19 months, Symbian 26 months and Blackberry 27 months. Apple managed the same feat in twelve months, but Blandford points out they did have a pre-installed device base of 4 million handsets before iTunes opened its doors to applications.
But it's not as simple as that. Consumers, developers, and the mobile phone markets will be comparing Windows Phone's 50,000 apps to the current volume of Android and iOS apps - both an order of magnitude ahead of Microsoft's new platform on half a million apps each.
In the eyes of some internet commentators, that's too large a gap. "...any product not based on iOS or Android isn’t 'safe.' argues Robert Scoble. "End of discussion. Until RIM or Microsoft changes that belief among app developers in a demonstrable way Microsoft will continue to struggle."
Right there, that is the challenge Microsoft has in front of it for 2012. They are very late to the smartphone game with Windows Phone, but they've come in with a solution that is technically solid; that has the fashion, looks, and plaudits to make it attractive to the man in the street; and has a simple story to tell in terms of development tools.
50,000 apps before the end of 2011 is as good a start as they could have hoped for, and proves the Windows Phone ecosystem has the ability to deliver. But now they need to evangelise hard. They need to get all the big name developers and Web 2.0 properties on-side; they need to be considered the equal of Android and iOS and not seen as the plucky challenger; and most importantly they need to show the developers that there is profit for them in Windows Phone.
Can they do it?


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“We are excited to be teamed up with Uber Eats,” says Patrick Conlin, President of Wayback Burgers. “In today’s increasingly technological world, we are proud to offer our guests the convenience of having Wayback Burgers delivered right to their home.”
Wayback has been prioritizing delivery this year, as this partnership announcement comes on the heels of the debut of the brand’s new, revolutionary delivery vehicle. Recently, Wayback Burgers introduced a new electric delivery and on-site cooking vehicle that delivers food and brings the kitchen to the guest for on-site preparation. Wayback first tested the vehicle near its headquarters in Connecticut and will be rolling out the delivery vehicle to participating locations across the country in the next year.
Wayback Burgers is known for gourmet, hand-dipped milkshakes, delicious side items, exciting limited-time-offer menu items and, of course, top-notch burgers.
For franchising information about Wayback Burgers, please visit franchise.waybackburgers.com
Copyright © FranchiseWire. All rights reserved.


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By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf Street
A terrible deterioration.
It got somewhat lost in the hoopla of the jobs report and the blistering rally in the stock market on Friday. But the US trade deficit worsened by 3.4% in October to $43.9 billion, according to the Commerce Department, once again disappointing soothsayers who’d hoped for an improvement in the trade deficit.
But as bad as the overall trade deficit is, the trade deficit in goods (without services) is much worse, and even then, the oil trade covers up just how terrible the underlying trade of non-petroleum goods really is, how far and how fast non-petroleum exports have plunged, and how much US manufacturing is getting whacked.
The worsening trade deficit was a nasty “surprise” – nasty because it dings US economic growth; and surprise because it appears inexplicably difficult for Wall Street economists to predict a downhill slope.
Exports add to GDP, and imports reduce GDP. So when imports exceed exports, the sacred US GDP figures get hit as they have been since the 1990s. But October was bad: exports of goods plunged 10.4% year-over-year to $123.8 billion, the worst level since June 2011.
The culprits: the strong dollar that makes US goods more expensive in other currencies, and tepid economic growth in the rest of the world, with some major markets in a recession, or a deep recession, such as Russia, or even worse, such as Brazil. The China slowdown isn’t helping. But in the case of exports to China, the dollar can’t be blamed since the yuan is pegged to the dollar, and the recent devaluation was tiny compared to the moves of other currencies.
Imports of goods fell 6.6% year-over-year to $186.8 billion – despite the strong dollar, though a strong dollar, in theory, should have caused imports to rise. This testifies to tepid demand in the US. Imports of petroleum products were blamed. The US is – despite the oil bust – pumping so much oil for domestic consumption that imports of petroleum products have been falling for years. And in October, the value of petroleum imports hit the lowest level since 2003!
In fact, the US is pumping so much oil that exports of petroleum products have been booming, and the net petroleum trade deficit – the difference in value between imports and exports of petroleum products – dropped to a minuscule $4.47 billion, the lowest since April 1999.
Credit must be given to the shale oil revolution – and to the many billions of investor dollars that have been drilled into the ground where they have now disappeared without trace!
But this flourishing oil trade covers up the terrible deterioration in the non-petroleum trade deficit. It’s volatile from month to month, but the trend is clear: in October, it worsened by 25% year-over-year, to $56.8 billion, after an all-time worst of $59.3 billion in August. Before this year, the worst had been $47.8 billion – in December 2014!
This chart shows just how fast and how far the non-petroleum trade balance (blue line) has plunged, while the net petroleum deficit (black line) is on the way, if this trend continues, to a surplus:
The reason for the rapidly deteriorating non-petroleum trade deficit: declining exports. In October, non-petroleum exports fell 9% year-over-year to $115.9 billion. The trend is worsening: year-to-date, non-petroleum exports dropped only 4%, but October and August were the worst months since 2011.
This swoon in non-petroleum exports explains in part the malaise in US manufacturing. What the regional manufacturing indices have been saying loud and clear for months, the national Manufacturing ISM Report On Business finally confirmed: for November, the index fell to 48.6 (below 50 = contraction), with new orders dropping to 48.9, not a good harbinger for the future. It was the first contraction since November 2012.
Bad as it is, it has been propped up by the massive US auto manufacturing sector that has been flying high, pumped up by cheap credit, loose underwriting standards, extended loan terms, loan-to-value ratios that exceed 100%, the rising proportion of subprime loans, and of course, securitization of these loans [read… What Happens When the Auto-Loan Boom Blows Up].
And auto manufacturing is still hot, fired up by US auto sales that might soon set an all-time record in unit sales and has already set all-time records in dollar sales due to higher vehicle prices.
But the rest of US manufacturing can’t be so easily propped up with loosey-goosy consumer debt. In these sectors, there has been no manufacturing renaissance, as this chart by NBF Economics and Strategy shows. It compares the soaring output of the auto sector (dotted blue line) to the languishing output of the rest of manufacturing (dotted red line):
NBF’s report notes that factory production excluding autos is still 5% below the pre-recession peak, “having stagnated in the last year or so.”
But auto manufacturing in the US isn’t for export; it’s mostly for the US market. Once the auto loan boom hits rough waters, as all loan booms eventually do, auto manufacturing too will get into trouble. This will pull out the last prop under overall manufacturing in the US.
And trouble, deep trouble, is already hitting manufacturing of heavy trucks. Read… Toxic Mix Hits Trucking, Orders for New Trucks Totally Collapse, Pummel Manufacturers
This shouldn’t be surprising. Despite all the trumpeting of the jobs numbers, which are meaningless given that they do not count the actual number of people out of work who have stopped looking (or rather they are still looking but since they have tapped out their unemployment benefits they are not registered). The real indicator is how much money the populace has to spend. Not much as evidenced by the poor retail numbers this season. Take a look at this chart; Real Mean Household Cumulative Growth. Household income for the majority of consumers has not recovered from the 2008 recession and in fact has been going down since 2000.
Of course they have to ignore it. Or downplay it. Unlike the utterly ridiculous meme that we cannot have nice things because our deficit is too high (but don’t raise taxes), that deficit is NOT the problem. The problem is that our trade deficit is astronomical AND the people who own the government do not want that dealt with. Although fixing that deficit problem would be better policy, and have a massive good impact on so many of our current problems.
a couple things…
exports have been hit since July because Congress did not reauthorize the Ex-Im bank, so big purchases could not get financed; commercial jet orders were down nearly 40%, for instance…that was finally passed & signed by Obama Friday, so that should improve by January…
price is a factor; raw trade data is not inflation adjusted like GDP is…if oil prices were still $100, our oil deficit would be twice what it is on the chart above…
the last 6 months were also revised with the October report; the trade deficit for September was revised from $40,812 million to $42,457 million, the trade deficit for August was revised from $48,017 million to $48,811 million, while the trade deficit for July was revised from $41,807 million to $42,433 million…that gives us a total increase in the trade deficit of $3,065 million for those months vs previously published figures, or worsening of the trade deficit for the quarter at a $12.3 billion annual rate, which will be subtracted from 3rd quarter GDP when the 3rd estimate is released December 22nd..
If a foreign airline can’t finance their own airplanes, why should the US tax payers?
Look, if Boeing were still a great American company (as in it made great products, which of late it hasn’t thanks to its short-sighted policies re its factory workers and engineers), I’d feel less conflicted about making the counter-argument.
First, airline manufacturers create spillover effects, in that their product and process advances are deployed by other companies.
Second, Airbus is massively subsizided.
Third, you seem to be in denial that America practices industrial policy. Banks, defense firms, big pharma, health insurers, sugar (!!!!), oil & gas and the universities are among the big beneficiaries. You can see that in the funding and tax breaks they get (and in the case of defense and big pharma, explicit R&D subsidies). So the questions is not “should we subsidize this industry?” but “are we subsidizing them too much” and “are we getting the societal benefits we should be getting?” Honestly, even with all its faults, Boeing is a lot less ugly than the most of the players I have on my list of welfare queens.
Not sure that Airbus is more subsidized than Boeing but Boeing is doing its best to catch up. We in Wa. are just learning how much our legislature sunk into the latest Boeing blackmail. Our good Senators jumped to attention when the Boeing CEO snapped his fingers and put their feet on the neck of the Machinists when they wanted to keep their pensions. Patty Murray won the tanker contract back from Airbus after various Boeing managers were caught in several nefarious schemes. GE and Boeing are the main benefactors of the Export Import bank despite believing that paying taxes is beneath them. Even Forbes magazine has written an article hinting at how bad the outgoing CEO was for Boeing – so that kicks further sand in the taxpayers faces. And said management seems to have stumbled once again in completing the tanker contract(behind and over budget) so they will probably have to be bailed out. What they do best is pat themselves on their backs and get paid more and more money.
I think that Mr. Richter should admit that the debacle is caused by expectations on the Fed rising rates, just what he is asking for, that in turn is rising dollar exchange rates.
The debacle is the combo of US Fed’s financialization gone utterly amok, the insane US policies of regime-change in concert with the Saudis, GCC, Turkey, Israel, NATO and epic stupidity re Russia, which is what the oil price war is all about. In other words, simply terrible US financial and foreign policy has taken the globe right up to the edge of the cliff – the global economy is stalled, tottering, and will either crash, or not, depending on whether the US can clear the garbage out of its thinking, and soon.
The very best thing for the global economy would be a US-led initiative for an immediate cease-fire, and finally, real negotiations with all important players to sort out Syria, Iraq, Yemen, Libya, Turkey, Saudi Arabia etc. Who is going to invest in long-term, productive and peaceful activity when all the elements for a catastrophe are at hand?
A good part of this has to be tied to “free trade” agreements that encourage export of manufacturing jobs to slave labor, environmental hellhole countries. Or do US slave labor manufactured good from hellhole island country X not count as imports when the products come in because they are “US” companies?
I’ve been wondering with the increasing export of petroleum and the continued rising to a net surplus, that this is a contributing factor the the strengthening of the dollar. One of the key mechanisms of supplying dollars to the rest of the world is through running a trade deficit in Oil.
Supply of dollars has been falling faster through this particular mechanism than demand falling. Possibly giving a rise the the strengthening of the dollar and hurting other areas that we are only now seeing.


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The reason for this is clear: the first full year of legal marijuana sales in Canada haven’t worked out as anyone expected.
The new producers haven’t displaced the illegal pot industry as much as expected; some have even lost their licenses for selling pot illegally from legal facilities, well-known founders have been ousted, provinces like Ontario have actually lost money through distribution and reported sales have come in lower than expected this year.
As one of the largest producers, Aurora has been fully exposed to this sudden shift in investor sentiment. But could the company see a turnaround next year? Here are two factors that could push the company’s stock higher in 2020:
At the moment, the legal marijuana sector operates as an agribusiness. Operations are focused on production capacity and the cost per gram of dry weed, similar to the way wheat or corn producers operate.
However, this lack of differentiation is expected to fade away as producers launch brands and products that consumers can easily identify and stay loyal to. The imminent launch of edibles in Canada, now known as Cannabis 2.0, gives major producers like Aurora a chance to offer a wider variety of products with better margins.
Earlier this year, the company announced it would begin producing edible products including baked goods, chocolates, mints, and infused beverages at a new Edmonton facility. Products are expected to be on the shelves by early 2020, and the added value to be reflected on the balance sheet next year.
Like a tightly wound-up spring, ACB stock’s valuation has been suppressed too far. The company’s current market value is just 16 times cash and cash equivalents and 16% higher than book value per share.
Property, plant and equipment are worth nearly $765 million, or 15% of total assets. Meanwhile, total debt is also under 15% of equity.
That said, much of the company’s book value is concentrated in intangible assets like goodwill and the business is expected to remain cash flow negative for the next few years. But if the company can raise more cash through debt or equity issuance, the stock could unlock more value next year.
In fact, similar to its rivals Cronos Group and Canopy Growth, securing a major strategic partner, could add some serious value for Aurora shareholders in the short-term.
Eventually, as the industry matures, Aurora’s operations should become profitable as well. As it’s already one of the largest players, a culling of the competition in the current market shake-out is to Aurora’s benefit.
The ongoing chaos in the marijuana sector has pummelled valuations across the board. Investors can still expect plenty of wealth destruction in this sector over the next few years.
However, major producers like Aurora Cannabis with enough resources, robust production networks and room to expand into new higher-margin categories such as edibles could emerge as winners in 2020 and beyond.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Vishesh Raisinghani has no position in any stocks mentioned.


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Woolworths is expanding its home delivery capacity by teaming up with rideshare service Uber to offer thousands more grocery deliveries. The new partnership will begin in Townsville on Monday, before being introduced to more cities in the coming weeks, as demand for the service increases during the coronavirus pandemic. Shoppers will need to place orders through the Woolworths website or app for next-day delivery.
Foxtel will release a new streaming platform as early as next month to compete with other players including Netflix and Stan. The service from the News Corp-owned company is expected to launch within the next four to six weeks. Foxtel is currently ironing out a content deal with HBO for the platform.
National Australia Bank has slashed its interim dividend to 30 cents and launched a $3.5 billion capital raising in a bid to bolster itself against a virus-driven economic downturn. The big four lender's statutory net profit for the half-year ended March 31 was down 51.3 per cent to $1.31 billion while cash earnings fell by 51.4 per cent to to $1.46 billion in a surprise early release of the lender's interim profit result on Monday. NAB last week indicated its first-half result would be stunned by a $1.14 billion triple hit of extra charges and writedowns
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.


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It was announced late last week that online auction/shopping site eBay has launched eBay Green Driving, a new site devoted to eco-friendly vehicles. As reported by Inhabitat, the site is more than just a portal for buying and selling electric vhicles, hybrids and “greener cars,” but also an educational resource for gathering a trove of information regarding more sustainable vehicles.
“The site is a one-stop-shop for all things related to green driving. It helps inform shoppers with news, data, and research tools, and with eBay’s vast inventory of new and used vehicles,” said Brad Berman, eBay Green Driving expert to Inhabitat. “In a single site, users can learn about fuel-efficient vehicles, find those vehicles, and make a purchase. There’s demand for this type of inventory among both cost- and environmentally-conscious drivers, especially as gas prices remain high.”
Berman goes on to mention the site’s fuel efficiency comparison tool, created with information gleaned from the Department of Energy’s fueleconomy.gov. “It’s valuable to shoppers to see this comprehensive overview in a single place,” he added.
“We see a pretty significant market opportunity,” said Annie Lescroart of eBay’s sustainability group to the New York Times about the site’s bottom line. “Everything we do is to get people to shop.”
The New York Times also mentions that the site features more than just your garden-variety green cars, such as an ethanol-fueled Chevy hot rod and a Ford police cruiser that runs on decompressed natural gas.


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A bill to “protect Ontario drivers from gas price gouging” that was reintroduced last week by MPP Gilles Bisson (NDP – Timmins), has been referred to the legislative assembly committee.
Bisson said he is anxious for the government to call the bill at committee so they can go forward with public hearings to find out how the bill can be strengthened and passed in the legislature.
The bill passed second reading in the Ontario legislature last week.
Bisson reintroduced the NDP bill, Fairness in Petroleum Products Pricing Act, 2018 in August under the new PC government after it was shot down by the former Liberal government in 2017.
“Individuals shouldn’t be punished because of where they live,” said Bisson. “Rural and Northern Ontarians are being gouged at the pumps. They don’t have trains, subways or sometimes even public transportation as an alternative.
“Travelling from Timmins to Queen’s Park, I saw gas prices range from 1.40 per litre to 1.24,” Bisson stated. “If we can sell a case of beer or a bottle of wine for the same price in Cornwall and Kenora, certainly we should be able to bring fairness in the price of gas.
“Consumers have to be protected” said Bisson, “and a mark of a good government is to protect the public.”
Bisson’s bill aims to allow the Ontario Energy Board to regulate the retail price and wholesale mark-up of petroleum products in Ontario.
The bill, if given final ascent, would guide the Ontario Energy Board and lieutenant governor in council to:
• “Protect the interest of consumers with respect to the predictable and consistent retail pricing of petroleum products
• Prevent pricing practices that undermine the stability and competitiveness of retail markets for petroleum products, including retail markets in remote, rural and Northern areas.
• Ensure transparency and reasonableness with respect to the prices of petroleum products.”


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"And if you choose to use face retouching effects, you'll see more information about how each setting is applied and what changes it makes to your image," Modi said in a blog post on Thursday.
Google said if face retouching filters are on, this should be clearly indicated in the product experience. And when it's off, it should stay off.
Today, more than 70 per cent of photos taken on an Android device use the front-facing camera, and over 24 billion photos have been labeled as selfies in Google Photos.
The tech giant conducted multiple studies on this burning subject and spoke with child and mental health experts from around the world.
It found that when you're not aware that a camera or photo app has applied a filter, the photos can negatively impact mental wellbeing.
These default filters can quietly set a beauty standard that some people compare themselves against.
"To put our research into practice, we created a framework to build and design products that support your wellbeing as well as an intentional relationship with technology," Google informed.
An app that shares Google's viewpoint is Snapchat.
Their default camera experience is always unfiltered, and you have the option to opt-in to lenses.
"Lens Studio also uses value-neutral terms for its facial retouching feature, and is committed to continuing to make improvements in this area," Modi said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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The increasing reach of Amazon has brick-and-mortar retailers changing their game plans. The latest is Target, who for the first time is offering free shipping.
The e-commerce company misses Wall Street expectations and reports a third-quarter loss of $437 million. More critically, it warns that its fourth-quarter revenue will also disappoint.
Smartphone giant now lets users pay via their phone bills. No credit card necessary.
The South Korean device maker emulates Amazon's approach to customer service using a Google Hangouts-like service.
Apple's been gaining more partners since it announced the service last month and it's ready to take it live.
The e-commerce site's massive fulfillment network continues to grow as it kicks off its busiest time of year.
The company's marketplace business continues to grow, despite a security breach in the spring, but it doesn't meet Wall Street's expectations for overall revenue.
The e-commerce company's fall lineup of games, which also packs in audio books and comics, shows Amazon is thinking big when it comes to gaming.
Google Executive Chairman Eric Schmidt says Amazon's e-commerce prowess in search takes eyeballs away from the search engine giant.
As the holiday shopping season draws near, the e-commerce giant is about to take its fight with retailers offline, according to The Wall Street Journal.


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New Ford Commercial Showcases F-150’s ‘Pro Backup Trailer Assist’ Tech
In one of Ford’s most recent commercials, Leary decided to tell the world about the new Pro Trailer Backup Assist technology that’s available for the 2016 Ford F-150. The technology makes use of advanced camera equipment to make it easier for drivers to be able to reverse their trucks when trying to launch a boat or simply park in their driveways.
Leary describes the new technology as “freakish,” and the commercial shows how Pro Trailer Backup Assist can easily be operated through a control knob that’s mounted on the dashboard. Customers just have to turn the knob right or left to guide the truck and the advanced rearview camera technology will alert the driver of potential obstacles.
Leary makes special note at the end of the commercial, explaining how the Ford F-150 is the only vehicle to feature Pro Trailer Backup Assist.
Ford engineers tested the Pro Trailer Backup Assist technology for nearly 10 years before making it available to consumers. In addition, Ford has already earned five patents for this technology and has 10 more pending.
Automotive News pointed out that Ford’s decision to run a commercial based entirely on the F-150’s new technology shows the importance that consumers place on a vehicle’s tech features. In a survey performed by Autotrader, it was learned that 77% of car buyers cared about a vehicle’s technology more than its exterior color.
“In-vehicle technology ranks increasingly higher for consumers as they consider must-have and desired features in their car shopping,” said Autotrader Senior Analyst Michelle Krebs. “That puts automakers under intense pressure to anticipate and offer the technologies consumers desire, or they risk losing them to a brand that delivers.”
Video: Ford’s New Commercial
News Source: Automotive News (subscription required)
Samuel Huist is easily the tallest member (6-feet 5-inches) of the The News Wheel team. He enjoys listening to hip-hop music and loves watching NBA basketball. Sam is also a Dayton, Ohio native and doesn’t seem to mind that distinction as much anymore. His first car was a 1996 Ford Taurus he could barely fit in. Like many young folks, he seemed more concerned about the radio in his first car than actually doing the work to maintain an automobile, so sadly it’s no longer with us. See more articles by Samuel.


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New Zealand impresses
Last month I had the pleasure of meeting the New Zealand Prime Minister, The Rt Hon John Key as I attended a small gathering of Australian travel industry people to discuss a range of important topics impacting the tourism industry in New Zealand and in particular, from an outbound perspective from Australia. As I am sure readers would know the Prime Minister of New Zealand is also the Tourism Minister. Such is the importance of travel and tourism to New Zealand that responsibility for its success and future sits with the PM. John Key is an impressive person, even with the fact that he has been a politician since 2002, some 14 years. As Prime Minister he won three elections in 2008, 2011 and in 2014 and for the most part has kept New Zealand humming along even in the face of global financial difficulties and their own natural disasters including the Christchurch earthquake back in 2011. What was also incredibly impressive was that as a nation’s leader he was interested and engaged enough to sit down with just a few Australian travel industry folk and really talk about the issues and challenges that we face and how things look in the future. It was a two-way exchange and I definitely made the point that any governments who think taxing tourists or clipping the ticket as tourists arrive and depart by way of a passenger movement charge or border charge is unwelcome to the industry at large, particularly when we are dealing with such small margins. Some of the emerging distribution models referred to as the sharing economy were discussed and it is clear that this is a global phenomenon, not a local one. I don’t think there is an easy fix for this, if at all. Time will tell what governments of all persuasions decided to do about the sharing economy. One thing is for sure, reasonable attribution of taxation to offshore companies is something that needs to be addressed by governments. It will be interesting to see how it gets addressed over the years ahead both in Australian and New Zealand. So by way of quick summary, the New Zealand people have definitely got themselves one hell of a Prime Minister who is engaged in real issues and keen to facilitate sensible debate to solve problems for the good of all. On a final unrelated note, news of the conviction of Jordan Dittloff is indeed the first of what I am sure will be several more to follow. In the end the travel agent pleaded guilty of stealing $277,993 from 47 different clients and will face jail for his actions. This is a strong message to any person thinking that they can get away with stealing by masquerading as a travel agent. Clearly the new de-regulated environment has the backing of the police who have pursued this case and got their man.
Such is the importance of travel and tourism to NZ that responsibility for its success and future PM’ sits with the


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Marangoni Retreading Systems has announced the full integration of the company’s European precured tread product lines.
New Pre-Joined Ring Concept from EIB
Portugal based tread rubber manufacturer EIB has introduced a new project designed to match the advantages of Marangoni’s established Ring Tread concept.
TRM Presents Eagle Truck 3000
Italian equipment manufacturer TRM closed a successful show at the Autopromotec fair recently, achieving a large presence of visitors at its booth.
Nokian Tyres Keeps Up With the Changing Industry Demands
In transportation industry, product development never stops and with that in mind heavier trucks require the tyres to match, and new tyre product lines call for matching tyre retreading materials.
Galgo 3PMSF Certification on Three More Pre-Q Treads
Galgo have expanded their Three-Peak Mountain Snow Flake (3PMSF) certified product line, to include a total of 16 tread designs.
Galgo Intros New KOP Tread
Galgo has developed the new PRE-Q Key on Performance (KOP) tread for mixed applications.
Akarmak Offers Increased Efficiencies for Small and Medium Sized Retreaders
Akarmak’s AKR550 Cushiongum Extruder with Precured Tread Builder machine addresses the topic: “Better; Faster; Cheaper”.
Galgo Expands Range with New Winter Mileage Design and Additional Trailer Axle Sizes
Tread manufacturer Galgo has announced the introduction of a new Winter Mileage Performance tread design and three new sizes in its trailer axle range.
New Designs from Kraiburg
Kraiburg Austria has announced the launch of a new city bus design, the K702 plus. Available now, the new drive profile boasts excellent traction and braking properties on account of its design.
Bridgestone Introduces the Bandag Contract of Trust
During the Reifen 2016 exhibition in Essen, Bridgestone introduced a new concept aimed at increasing the levels of trust placed by fleets in retreads in general and in Bandag retreads in particular.


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Tata Consumer Products to enter Nifty 50 index from 31 March; GAIL will be excluded
- Tata Consumer Products is a multinational consumer goods company and a subsidiary of the Tata Group
- Seven stocks including Bank of Baroda, Container Corporation of India (Concor), General Insurance Corporation of India, Hindustan Zinc will be excluded from the Nifty Next 50 index
Tata Consumer Products will be included in the benchmark Nifty50 index, with effect from 31 March, 2021, the National Stock Exchange (NSE) said. Tata Consumer Products is a multinational consumer goods company and a subsidiary of the Tata Group. It reported a 25.26% rise in consolidated net profit to ₹237.03 crore for the third quarter ended December 2020, on the back of higher sales in branded business. GAIL (India) Ltd will be excluded from the Nifty50 index.
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A tractor trailer full of beer drove itself down Colorado’s I-25 last week with nobody behind the wheel. Uber Technologies Inc. and Anheuser-Busch InBev NV teamed up on the delivery, which they said is the first time a self-driving truck had been used to make a commercial shipment.
With a police cruiser in tow, the 18-wheeler cruised more than 120 miles while a truck driver hung out back in the sleeper cab, the companies said. The delivery appears to be mostly a stunt—proof that Otto, the self-driving vehicle group that Uber acquired in July, could successfully put an autonomous truck into the wild.
AB InBev said it could save $50 million a year in the U.S. if the beverage giant could deploy autonomous trucks across its distribution network, even if drivers continued to ride along and supplement the technology. Those savings would come from reduced fuel costs and a more frequent delivery schedule.
Proving the viability of autonomous trucking has become more important amid mounting regulatory and public scrutiny. Surveys show most Americans aren’t sold on the technology. The U.S. trucking industry is particularly sensitive to it. While fatalities in the industry far exceed those of other businesses and could therefore benefit from improved safety, it employed 1.5 million people in September, jobs that may be threatened by autonomous vehicles.
The death of a driver using Tesla Motors Inc.’s autopilot system in May has focused political attention on self-driving vehicles and hastened calls for regulations to keep pace with the technological advances. The U.S. Transportation Department released policy guidelines for autonomous driving, which acknowledged the technology’s life-saving potential while warning of a world of “human guinea pigs.”
Uber’s Otto team worked with Colorado regulators to get permission for the delivery and to arrange for police supervision of the shipment, said Ron. Otto spent two weeks scoping out the driving route from Fort Collins to Colorado Springs, carefully mapping the road to make sure the technology could handle it. The team wanted the trip to take place in the early morning when traffic would be relatively light and on a day when the weather was clear. Those conditions were met last Thursday, when the delivery took place.
Ron said Uber does not plan to build its own trucks and instead wants to partner with automakers, as it’s doing with Volvo on self-driving cars. He said the company’s discussions with truck manufacturers are in early phases.
The software still has a long way to go, too. The autonomous drive in Colorado was limited to the highway, meaning truck drivers shouldn’t have to worry about finding a new profession anytime soon. “The focus has really been and will be for the future on the highway. Over 95 percent of the hours driven are on the highway,” Ron said. “Even in the future as we start doing more, we still think a driver is needed in terms of supervising the vehicle


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The sales and marketing industry has been abuzz with talk of predictive analytics, machine learning and artificial intelligence (AI) this fall, especially on the heels of a flurry of AI updates from Microsoft and Oracle, Salesforce’s recent Einstein announcement at Dreamforce, and Google’s unveiling of its efforts in machine learning and AI yesterday.
In all of this hype, I’ve encountered several conflicting definitions and explanations of what AI really means.
Those of us close to the space know that AI, at its core, is actually foundational technology that’s been around in the consumer world for over a decade.
Think of the amazing intelligence behind Google Photos, which uses facial recognition technology to organize your images for you, as well as the highly accurate music recommendations that you get from Pandora based on your likes and dislikes. We see similar examples in major league baseball (remember Moneyball?) and, of course, the fast-evolving world of Uber, Waze and self-driving cars.
As AI enters the enterprise realm — in what Constellation Research predicts will be a $100 billion market by 2025 — it’s important to shift our focus away from science fiction perceptions, and instead look toward the specific business outcomes that AI can produce.
To help cut through the noise, I’ve outlined below four key roles that analytics plays in the sales and marketing landscape. Keep in mind that each of these approaches delivers insights based on sophisticated data processing, modeling and other scientific techniques — all of which are important aspects of AI.
Some opinions expressed in this article may be those of a guest author and not necessarily Marketing Land. Staff authors are listed here.


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(Bloomberg) — Mullen Automotive Inc. has accused brokerages TD Ameritrade and Charles Schwab of facilitating naked short selling and damaging the electric-vehicle company’s stock price.
Most Read from Bloomberg
Mullen, which plans to make both commercial and passenger electric vehicles, claims the brokerage firms and around 10 individual unidentified broker dealers illegally sold over 34 million “fictitious” company shares and “fully paid-for” stock owned by Mullen shareholders. In a lawsuit filed Tuesday in federal court in New York, Mullen alleges the brokerages sold those shares without actually borrowing them in the first place.
Their “conduct injected false and misleading information into the market by indicating that there were more Mullen shares available for trading than existed,” the company said in the lawsuit.
Mullen shares began dropping in February and are down 99% year-to-date.
A spokesperson for Schwab said the company was aware of the lawsuit but hadn’t yet reviewed it. Mullen did not immediately respond to a request for comment.
Mullen alleges the unlawful trading took place shortly after the company executed a 25-to-1 reverse split in May, which led to a reduction of the 3.7 billion shares outstanding to 152 million shares. The company is seeking unspecified damages as compensation.
The Brea, California-based company began trading on the Nasdaq in November 2021 after merging with a listed payments company. Since then, Mullen has acquired a number of its struggling peers, like bankrupt Electric Last Mile Solutions, Inc., and the privately-held Bollinger Motors.
–With assistance from Silla Brush.
Most Read from Bloomberg Businessweek
©2023 Bloomberg L.P.


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Summary: The recreational marijuana market in Colorado continues to post impressive growth figures, but pricing fell even more than our last quarterly report in March. We have covered the developments of this novel industry for a year now by regularly surveying numerous owners, managers and employees of Colorado marijuana dispensaries. Since last June, the average price of an 1/8th ounce of recreational cannabis has dropped from $50-$70 to $30-$45 currently; an ounce now sells for between $250 and $300 on average compared to $300-$400 last year. More competition and expansion of grow facilities contributed to this price decline, but it is also a natural result for any maturing industry as dispensaries try to find the market’s equilibrium price. Even still, recreational marijuana sales during the first four months of this year exceeded last year’s comps. For example, sales rose by 98% y/y to $43.9 million in April based on our own estimates of the latest available tax data from the Colorado Department of Revenue. Given our revenue estimates for January through April, we expect stores to gross up to $480 million this year collectively, a +50% comp to 2014. Please read on for the details of what we’re hearing from dispensaries and our own analysis of this burgeoning industry.
Note from Nick: Dramatic growth isn’t just for killer messaging apps and hipster cab services; the Colorado marijuana business is growing, well, like a weed. Today Jessica updates her quarterly survey of this industry – her fourth – with the latest data. Unicorns aren’t just for Silicon Valley – this business would merit a billion dollar valuation in any Sand Hill Road conference room.
As we progress into the heat of summer, there are numerous resorts with fun and cooling activities on offer, but we can assure you there are none like the CannaCamp Mountain Resort in Durango, Colorado. Its pitch is similar to other all-inclusive resorts in the state, but with one distinct value add: guests can hike, zip line, and roast marshmallows, all the while smoking cannabis. It’s like summer camp, but for adults. The resort can’t provide marijuana due to state laws, but they welcome you to bring your own and also have a cannabis concierge on staff to recommend strains and direct you to local dispensaries. Here are the details of this 170-acre getaway, open from July 1st to October 31st:
- Outdoor activities: There are several trails for guests to hike with available guides. And while most national and state public parks prohibit smoking, CannaCamp is the first property in Colorado to allow cannabis consumption in all public areas according to the company. That’s a green light for smoking on the trails, by the lake or heated outdoor swimming pool, for example. Other ordinary camp activities include canoeing, fishing and horseshoes, in addition to mountain biking, rock climbing, and ziplining for risk takers.
- Cannabis activities: Although the resort can’t serve cannabis-infused food, it offers a “THC Fusion Cooking” class that teach guests how to infuse meals with THC and CBD (the two main cannabinoids produced in marijuana plants). It also offers educational classes on a range of marijuana-related topics from regulations and different strains to its economic impact and health benefits. Otherwise, enjoy their cannabis-infused massage therapy, watch local artists blow glass, or take a cannabis-friendly yoga or paint class.
- Food: Don’t worry, this food experience will be nothing like the slop you ate at your childhood summer camp: CannaCamp offers gourmet meals with recommended strain pairings. Aside from lunch and dinner, a “Wake+Bake Breakfast” will await you in the morning in addition to a “4:20 Happy Hour” in the afternoon.
- Cabin: Guests can choose from nine cabins for a place to stay, but you’ll have to step out onto your balcony to smoke since you aren’t allowed to consume marijuana indoors. This is also no low scale resort: rates start at $395 per person per night.
If you’d rather steal away in an environment that’s a little more subdued and relaxing, the owners of the resort also own a “Bud+Breakfast”. Two actually: One with rooms that rent for as low as $149 on weekdays and $159 on weekends in July, and $299 for the other. Again, this is just like a Bed and Breakfast, but with cannabis in the mix by way of a wake and bake breakfast, 4:20 Happy Hour, and cannabis-infused massage therapy.
These marijuana-friendly businesses are just two examples of entrepreneurial ventures blossoming in the Centennial state since Amendment 64 first allowed licensed stores to sell to anyone over the age of 21 on January 1st, 2014. The big cash cows, however, are recreational marijuana dispensaries – and we mean that literally. The drug is still illegal on the Federal level, causing reluctance among most banks to accept these businesses as customers so they don’t risk money-laundering charges. Consequently, dispensaries heavily invest in security personnel and equipment, and hoard piles of cash in safes and containers.
Even with this significant wrinkle, recreational marijuana stores continue to rake in tens of millions of dollars collectively each month. We have followed this market intensively for over a year now, providing a quarterly update on the industry and our conversations about business and consumer trends with several stores’ owners, managers, and employees. A lot has changed since last year, but it shouldn’t be too much of a surprise. While this Colorado experiment in marijuana legalization is the most unique case study of its kind since prohibition, these dispensaries run just like any other retail business.
Here are our takeaways from our most recent survey, conducted last week:
Prices continued to fall from our survey in March. For the first nine months of 2014, only existing medical marijuana dispensaries could enter the recreational market while new entrants had to wait to apply for a license. The limited number of dispensaries were able to maintain high pricing power due to a concentrated market and because shops’ supply could barely keep up with demand. Last June, an 1/8th once of recreational marijuana cost an average of $50-$70 and an ounce sold for between $300 and $400. The former figure settled at a price between $40 and $50 in the fourth quarter of last year and the latter range remained the same.
This year the average price of an 1/8th ounce has declined to about $30-$45, according to our survey work last week. Likewise, the average price of an ounce fell closer to $300 three months ago, but we are now commonly seeing prices around $250-$300 and some stores are charging even below the $200 threshold. Most stores sell top shelf marijuana, but bear in mind that connoisseur strains, also typically an option, command even higher prices. More saturated areas, such as Denver, tend to have cheaper prices.
Nevertheless, this overall (and dramatic) drop during the past year partly resulted from more competition as a greater number of dispensaries were awarded licenses to operate. Secondly, our contacts started vertically integrating this year by buying additional warehouses and expanding their grow facilities, increasing supply. This is all a function of a maturing market as dispensaries try to find the market’s equilibrium price.
Customer flow kept pace over the last year, although the average transaction size halved. Our contacts still report between 100 to 300 customers entering their stores each day, but they only spend about $50 per visit compared to $100 last June. About half of these customers are tourists in most stores we interviewed.
In order to retain customers and gain market share, dispensaries have increased promotional activities. One contact said offering deals is particularly important since taxes are high on recreational marijuana; sales taxes total 12.9%. Therefore, some stores keep a signup list so they can alert customers about new specials. Other promotional efforts include magazine ads, postings in online directories, and sporting event ticket raffles for customers who spend a certain amount. Our contacts said the largest drivers of business, however, are rallies and concerts as people stock up before each event.
For example, “420” has become a term synonymous with celebrating and using the drug on April 20th of each year. Our interviewees said they were so busy leading up to this date that it reminded them of when they first sold cannabis in the beginning of last year. One manager noted he saw tourists who didn’t make the trip when recreational marijuana was first legalized, and reported serving over 1000 customers over a three day period encompassing “420”.
Each time we call recreational marijuana dispensaries and inquire about popular product offerings, we always get the same response: “Anything with weed in it sells well”. With that aside, there was a broad consensus among our contacts that hash and concentrates continue to draw huge demand specifically from those in their early to mid twenties. These options are cleaner and more powerful than smoking regular flower. Additionally, marijuana infused edibles such as chocolate bars and gummies are still popular, but companies are starting to make healthier offerings, such as hemp protein bars.
We focus on the recreational side of marijuana dispensaries in Colorado, but many started out selling medical cannabis before retail was legal. Last year, some stores transitioned their medical shops into solely recreational. We are now hearing from a couple of contacts that they plan to sell medical again and have dual stores in order to regain some of the customer base that they lost. Above all, the owners and managers we spoke to said consistency in quality and price keep their customers coming back.
Overall, business for these dispensaries ebbs and flows similar to other retail stores. For example, our contacts said sales pick up around holidays, fall off after New Year’s, and gain momentum again once people receive the windfall of tax refunds in April. They are currently entering the busy season for marijuana dispensaries when they receive a steady stream of customers, particularly due to a bump in tourism.
A quick look at the latest available state tax data from the Colorado Department of Revenue show these stores in the aggregate beat its 2014 comps from January through April. For example, the state grossed $3.55 million in revenues from the 10% retail sales tax in January, which suggests stores earned $35.5 million in revenue. That’s a 153% increase from the prior year. Revenues in February and March grew by 164% and 126% on the year respectively, while sales rose by 98% y/y to $43.9 million in April. If we use the average of revenues for the first four months of this year – about $40 million – as our monthly run rate for the balance of 2015, total revenues for 2015 could reach $480 million. That would mark a +50% comp to last year’s revenues of $313 million for recreational marijuana sales.
Sales on September 16th will likely meaningfully contribute to that impressive potential comp. The 10% sales tax on recreational cannabis will be repealed only on that day due to a provision included in a bill Colorado Governor John Hickenlooper signed into law earlier this month. The bill also permanently cuts the 10% sales tax on recreational marijuana to 8% in 2017 in an effort to squeeze out the black market.
Keep that September date in mind for those thinking about booking a trip to CannaCamp. If you can’t wait till then, there are still plenty of suites available in July and August, but you’ll want to make your reservation soon. As the site posted about its response to inquiries: “Please be patient – we have become quite busy lately”. Just remember to BYOB (“Bring your own bud”).
For the full PDF version of the Morning Markets Briefing, including summary of yesterday’s market action, go here. See Important Information.


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Last week, on November 2nd, Georgetown voters overwhelming approved the bill known as the Winery Initiative and removed alcohol restrictions that were previously characteristic of the town. Voters approved this initiative “with about 77.8 percent voting in favor of changing Georgetown’s liquor laws.” (See Georgetown Residents Affirm Liquor Law Change,asserting that “Georgetown voters cast 13,280 votes in favor of passing the proposition; 3,791 were opposed, according to unofficial Williamson County voting results.”) The law, which allows restaurants and wineries in Georgetown to sell wine and beer without applying for a full liquor license, will severely cut costs for these businesses. Prior to the passage of this law, Georgetown businesses (in dry areas) were required to obtain a full liquor license; the new law allows such businesses to obtain a less inclusive license that permits them to sell wine and beer without paying the fee for full liquor license. The full liquor license is estimated to cost about $6,000 per year whereas the cost of selling only beer and wine is about $500 per year.
Accordingly, “[t]he process of changing Georgetown’s liquor laws began last year with a movement started by citizens, including members of the Downtown Georgetown Association.” (See Georgetown Residents Vote to Change Liquor Laws.) “Bringing liquor laws to citizens for review required 4,700 registered voters’ signatures on a petition. Once the signatures were verified, the Williamson County commissioners approved putting the local option election on the Nov. 2 ballot July 20.” (See Georgetown Residents Affirm Liquor Law Change.) In doing so, businesses hope to bring more options and opportunities to Georgetown Square that still promote the area’s culture and history. Previously, wineries were not allowed to come to the area because of the legal restrictions imposed by the city. Presently, many wineries are seeking to move in to the Downtown Georgetown area.
However, there are some restrictions that are imposed by this new law. “The City of Georgetown’s development code prohibits more than one bar, tavern, pub, dance hall, or nightclub from operating within 750 feet of another. Because Landmark Tavern—a private club that serves alcoholic beverages—is already open on the second floor of 701 Main St., no other tavern can open on the Square.” (See Georgetown Residents Affirm Liquor Law Change.) Additionally, the Georgetown City Council must approve a permit to any bar, tavern, pub, dance hall, or nightclub in city limits and requires that such businesses be at least 300 feet from a church, public or private school, and public hospital.
In light of prior On Reserve entry (See The Wrath of Blue (Laws)) discussing blue laws and the effects thereof, it is interesting to see a city like Georgetown impose a new law that allows for less restrictive regulations concerning the sale of alcohol by hospitality businesses to consumers while still maintaining an overcast of “blue law” restrictions. This simply reaffirms the history of alcoholic beverage regulation in the United States, a more conservative outlook and regulations with respect to alcoholic beverages.


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a couple days ago for the iPad, there were apparently a small portion of users who managed to experience a much wanted feature that's going to become available soon to the masses. They were actually able to receive push notifications for a brief time, but unfortunately it looks as though it has been pulled completely. Nonetheless, Twitter did come out to indeed confirm that it is coming some time down the road for their iPhone and iPad apps. In the mean time, they're doing some extensive testing in the near term to fine tune any funks happenings with it.
One of Twitter's reps stated, “When we launched Twitter for iPad, there was a configuration error that caused us to offer push messages to a small set of users. We’ve stopped sending push messages, but users may see an option to turn on push until we release an updated version of the app. We’ve been testing push notifications internally. Push isn’t ready yet, but we look forward to rolling this out soon.”


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New casual restaurant in Bonita Springs Want to take guests to an easier, from-scratch kitchen for all-day brunch and cocktails handcrafted in Its a full bar.
Corner Spot Diner + Drink is open to the public Around the corner of the small L-shaped retail complex at C Level Restaurant & Cocktail Bar on August 2 4450 Bonita Beach Road, about One mile from Gulf Beach. Chef Owner Noel Weihait plans his A nostalgic menu built around American classics with seasonal variations using local produce.
“It’s going to be an all-day menu with traditional dinner Stylish, this will include an all day brunch menu and sandwiches and salads, then we’ll have some dinner plate We’re going to have a fresh bread service and stuff like that,” Willhite said. “Everything will be done from scratch in-house. The concept is retro, traditional American cuisine, so we really love early American cooking, Prohibition Era style cocktails that are all handcrafted and go well with all the food we create, too.
The menu offers classic, simple food such as patties and casserole, berries Cwine glasses and mason jar tarts, Appetizers such as Bistro Ham and White Cheddar Dumplings, and Sweet Duchess sourdough rolls on the side, German Potato Salad and Baked Applesauce. Some traditional cocktail party salads and appetizers are things one might have seen at an early American dinner partyWilhead saysthe source of its inspiration Cooking comfort food came from his grandmother.
“Pork Tenderloin is my grandmother’s grandmother’s recipe,” he said. “We’re really, really excited to learn about the core roots of culinary past. These are our 100-year-old recipes bring into one dinner. “
Some recipes date back to historical times U.S. when food is rationedso Natural sweeteners will be used to limit the need for sugar. “Have There are very few canned ingredients in our kitchen. We have very few pre-made ingredients in our kitchen,” Willhite said.
Unique to Weihai culinary Cut to the retro concept in what he calls an upscale casual dining setting.He was previously general manager and executive chef at Marlins Brewery in Fort Myers, chef at Hyatt Regency Coconut Point and Spring Run nation club and have Have Professional kitchen Role exist Chicago, Las Vegas, Maui and Washington DC He grew up in Kensington, Maryland (a small town outside Washington, D.C.), Moved with family to Naples area at age 15 Cooking Schools in Tallahassee. “I did some moving before I settled here and started a family,” Willhite said.
Opening your own restaurant is another matter effort Ground yourself. “I’ve been cooking for over 20 years, helping open other people’s restaurants and helping run other people’s establishments.I’ve never done anything myself so here’s what I said, here we are Yes Ready,” Wilhead said. “This is my dream. Our hearts and souls Yes Get in this. “
Ironically, the COVID-19 pandemic almost caused Willhite to throw in the towel in his long career. “I’ve actually left the industry entirely, and I’m not planning to come back,” he said. “Honestly, I was burned.”
However, an opportunity arose about 18 months later when Willhite planned to start a food truck, but when the restaurant space in Bonita Oaks Square became available, he turned to the restaurant concept. “I’ve walked in here once. This place has great bones,” he said.
Sharky’s Pizza Pub closed in April after six years in business.The corner unit was formerly the home of Gatsby’s Pizza before the local pizzeria finally reopened not far away Bonita Beach Road.
Willhite noted the irony of hosting the Great Gatsby dinner and cocktail party in a space that once belonged to Gatsby. “If you Google the ‘The Great Gatsby’ dinner menu or cocktail party, it’s not too far from what we’re doing in this building,” he said. “It’s beef Wellington and gin martinis or something. That’s what we’re going for.”
Corner Spot will focus heavily on classic cocktails, says Venue general manager and bartender Dave Allen moved from Ireland to southwest Florida many years ago. “In that Prohibition era, there were some really good things coming out of woodwork,” Allen said. “I’m very, very excited about it.”
The creators of Corner Spot didn’t want to brand the concept as fine dining, even though it was creating haute cuisine and cocktails. “We’re going to serve good food in a casually priced environment. I can promise that,” Willhead said. “We’ll do better than anyone who works at a Michelin-rated restaurant, but at random prices.”
○new inspiration Dining room is family. Weihaite and his 13 year old daughter love having breakfast at dinner. After the recent closure of Metro Diner and Perkin’s on Bonita Beach Road, he came up with the idea of opening a small restaurant. “I was kind of joking, we’re opening a restaurant here,” he said. “We want this to be a place where you can take your daughter, take your kids, take your family, whether you’re going to or from the beach, wearing sandals, etc. It’s a leisure time dining experience.”
While the restaurant is rooted in a bygone era, Willhite will use Demonstrate modern technology and plating style Home-style cooking, paring the macroeconomic conditions of the past and today. “This goal is actually conceptualized around our current supply chain crisis. It’s scary for a lot of people. We’re going through some pretty scary times.,” He says. “We’re not going to price people out of the market. We want to be a staple in our community.“
corner operate Hour Tuesday-Thursday 10am-9pm, Friday and Saturday 10am to 10pm, Sunday 10am to 8pm, and is closed on Mondays. Outdoor dining is available.


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Offering delivery is the latest step Starbucks is taking to build on its much-publicized success with mobile payments and broader effort to keep up with consumers who are increasingly shopping and browsing online through their devices. To that end, the company is rolling out mobile ordering in December in Portland before expanding it nationwide next year.
People will be able to order their pumpkin spice lattes and caramel macchiatos ahead for pick-up to avoid waiting in line. Schultz called the company’s new Mobile Order and Pay service the “single most important technology innovation” it will launch this year.
But Starbucks isn’t really ahead of the curve here. Papa John’s has been offering mobile ordering for years, and other quick-serve restaurants such as McDonald’s and Burger King are either testing or rolling out the service. This week, Taco Bell launched a high-profile campaign -- going dark on social media and its Web site -- to promote its new mobile ordering app.
Still, Starbucks is usually Exhibit A when it comes to operating a smooth system for in-store mobile payments. In the earnings call, Schultz said that the 7 million mobile purchases now account for 16% of all its U.S. transactions per week, well ahead of other brick-and-mortar retailers. And that figure has been growing by about 50% a year.
“We’ve accomplished this by integrating the convenience of mobile payment to a compelling and enjoyable program that gives our customers rewards,” noted Schultz. In other words, linking its mobile app to its rewards program has been a key to customers’ embrace of mobile payment.
Among other new mobile offerings, Starbucks has recently added digital tipping (of baristas), and in its iOS app, integration with Uber, allowing users to order a ride to a Starbucks outlet. What about Apple Pay? Starbucks offers the in-app version of the new Apple mobile payments service but its stores don’t currently support the near-field communication (NFC) technology needed to process transactions made using Apple Pay.
Given the long-standing relationship between the companies, It will be interesting to see whether Starbucks eventually updates its terminals to accept Apple Pay purchases or not. After all, the company has a good thing going with its own system, so why switch? And consider Starbucks last year entered into a partnership with Square but never really supported the startup’s mobile payments app, which it has since killed.
Certainly, Starbucks wants to keep its own app as the center of customer’s mobile interaction with the brand. That’s likely true of the forthcoming order delivery service as well. “Imagine the ability to create a standing order that Starbucks delivered hot or iced to your desk daily -- that’s our version of e-commerce on steroids,” said Schultz.
But the test for the company is actually delivering on the promise of mobile ordering and to-your-desk delivery in the coming year. If not, its on-the-go customers will surely let Starbucks know.


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Tips for sticking to your New Year’s resolutions
LOUISVILLE, Ky. (WAVE) – Whether it’s eating better or exercising more, New Year’s resolutions are tough to keep.
Nicole McGloshen, a registered dietician at UofL Health, said Thursday that 92% of people fail to maintain their resolutions through the year.
McGloshen has some tips, like where to even start.
“Find your motivation,” McGloshen said. “Find your why on why you’re wanting to make this change. A lot of the times people say, ‘I want to lose weight.’ Well, why? Do you want to be healthier? Do you want to look good in a bikini? Put in place steps that are going to help you reach that goal but that are going to help you become disciplined.”
Those steps might include the simple act of making a shopping list and buying what you need to eat for your healthy eating resolutions, like fruits and vegetables, and not so much the things you want to eat.
It shouldn’t stop there. McGloshen said there’s much more to becoming a healthier you.
“A healthy lifestyle is not just eating better,” McGloshen said. “It’s not just including exercise. It’s a spiritual, it’s a mind and it’s a physical triangle aspect.”
If you find yourself off track, don’t give up. Get back to it quickly.
“Let’s say you were supposed to eat a piece of fruit at breakfast and you didn’t,” McGloshen said. “Eat it right then. Eat your fruit. Get your checkmark. Don’t wait for the next day. Make that moment count.”
McGloshen said 80% of people will have abandoned their New Year’s resolution by February, but she would like to help some people avoid that.
Copyright 2020 WAVE 3 News. All rights reserved.


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Just in time for the release of the film, The Force Awakens Playset is the next addition to Disney Infinity 3.0: Play Without Limits. In the Star Wars: The Force Awakens Play Set, players will travel to a galaxy far, far away alongside new heroes and old friends in search for a much-needed ally. Playable characters include Finn, a soldier on a path to adventure and danger, and Rey, a true survivor who is resourceful and capable. Both will join Poe Dameron, the trusted pilot of the Resistance who uses his expert flying skills to travel the galaxy, and Kylo Ren, an enforcer for the First Order who terrorises the galaxy with devious acts.
Hacking the ads
Kaspersky Lab’s researchers have discovered a new botnet that cashes-in on aggressive advertising, mostly in Germany and the US. Criminals infect their victims’ computers with the Magala Trojan Clicker, generating fake ad views, and making up to 350$ from each machine.


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SUCCESSFUL results from an industrial-scale manufacturing trial of oat-based products means a new ambitious and potentially lucrative growth industry for Southland is another step closer to being realised.
“It was a very successful campaign,” Venture Southland (VS) group manager, business and strategic projects Steve Canny said.
“We are not there yet, but this was a major step forward. We have passed the last major hurdle.”
Swedish process and formulation engineers, VS, New Zealand process engineers and New Zealand Functional Foods were involved in the week-long trial in Singapore, manufacturing oat-based health and wellness products, such as skin creams, medications, cheeses, yoghurt, spreads, energy replacement drinks and desserts.
Mr Canny said the trial determined Southland oats produced unique formulations.
“We are thrilled about that.”
During the trial, a new method of manufacturing was undertaken which reduced the amount of energy used in the production of the formulations by about 30%, he said.
“This was very significant… a big saving and also good for the environment.”
The trial was the final stage before investing in production of high-end oat-based food products and nutraceuticals for export to the Asian-Pacific region, a market estimated to be worth more than $1 trillion a year.
Mr Canny said once financial investment had been secured, work would begin to build plants and advance capability in Southland.
They had received quite a lot of interest in investment, but securing “intelligent investment” from people who had an active interest in this area of food production was important, he said.Best Authentic SneakersAir Jordan 1 Retro High OG “UNC Patent” Obsidian/Blue Chill-White For Sale


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July 24 - Summary: Mobile growth helps Facebook top sales and profit forecasts; Boeing, Ford lift full-year outlooks but Caterpillar cuts view; Obama tries to re-energize economic policy; Stocks stall. Conway G. Gittens reports.
Facebook swung to higher-than-anticipated quarterly profits and sales. It appears Facebook is getting mobile strategy right. Mobile made up more of total ad revenues than it did the prior quarter. One other metric of note - the monthly average number of users logging on to the social network on their phones jumped 51 percent from the same time last year. The response was bullish - the stock immediately surged above $31 in after-hours trade - a level not breached since February. Turning to manufacturing: Boeing raised its outlook after demand for 787 Dreamliner jets and foreign orders for military aircraft pushed results ahead of the consensus. Ford also boosted full-year guidance. Higher U.S. truck sales, strong demand in China, and a surprise smaller-than-expected loss in Europe drove the automaker to a forecast topping quarter. But Caterpillar slashed its outlook for the year. The problem: a slowdown in the mining industry caused profits to crater by more than 43 percent. That prediction gave investors little reason to buy stocks. The S&P 500 had its first two-day drop in a month. The Nasdaq was basically unchanged. Google is updating its nexus 7 tablet. The latest version is thinner than its predecessor and comes with higher screen resolution. The cut-throat priced tablet hits the market at a time when Apple revealed a 20 percent drop in iPad sales last quarter, and Microsoft recently slashed prices on the Surface because of soft demand. New home sales hit a 5-year high. Meanwhile, President Obama is trying to re-energize his economic agenda - starting with a pledge: U.S. PRESIDENT BARACK OBAMA (ENGLISH) SAYING: "The only thing I care about is how to use every minute of the remaining 1276 days of my term to make this country work for working Americans again." Though short on details, The White House is calling on Republicans to work with the President, who wants to spend on education and infrastructure in order to strengthen the economy and bring down unemployment. And speaking of a better economy, a survey of euro zone private businesses showed growth for the first time in two years - that was enough to send European stocks to an eight-week closing high.


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Britain’s competition regulator has called on the European commission to block the owner of Three’s £10bn acquisition of O2 or force the combined mobile phone operator to break itself up to protect consumers, reports The Guardian.
Hutchison Whampoa, the Hong Kong conglomerate that owns Three, agreed in March 2015 to buy O2 from Telefónica of Spain. The deal would create Britain’s biggest mobile phone company and reduce the number of UK network owners from four to three.
In October, the UK’s Competition and Markets Authority asked the EC to refer the acquisition to it but in December the commission turned down the request, saying it was better qualified to apply European rules. The CMA had argued fewer mobile operators would lead to higher prices or worse service for British consumers.
With a week until the deadline for the EC’s decision, Alex Chisholm, the CMA’s chief executive, has written to the commissioner, Margrethe Vestager, saying the EC’s proposed actions to protect consumers are inadequate.
Chisholm said: “It is clear that the remedies offered fall well short of what would be required to meet the relevant legal standard, as detailed in our case submissions. The proposed remedies are materially deficient as they will not lead to the creation of a fourth mobile network operator (MNO) capable of competing effectively and in the long-term with the remaining three MNOs such that it would stem the loss of competition caused by the merger.”
He said the combined company should be forced to sell either Three or O2 to an approved buyer or the deal should be scrapped. Hutchison has offered to freeze prices for five years, invest £5bn to improve coverage and reliability and sell some of the merged network to rivals.
Chisholm’s letter reinforces the UK authorities’ unhappiness about the takeover, which would give Hutchison, owned by Hong Kong’s richest man Li Ka-shing, 40 per cent of mobile phone users with more than 30 million customers. The commission is due to decide what action to take on 18 April.
Sharon White, the chief executive of the communications regulator Ofcom, wrote to the commission earlier this year arguing the deal could mean higher prices, reduced competition between network providers and the big operators having too much power over independent retailers.