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When it comes to artificial intelligence (AI), Palantir (PLTR -5.57%) is emerging as one of the most talked about companies. The elusive data analytics enterprise founded by Peter Thiel appears to be on a mission to prove that its AI capabilities can compete with the likes of big tech stalwarts Microsoft, Alphabet, and Amazon.
Palantir’s CEO, Alex Karp, has been on a media blitz for the last several months, boasting about the company’s demand prospects. Whether it’s referrals from existing customers to inbound leads, demand generation can come in many forms. Karp and his team are doubling down on Palantir’s ecosystem as the company continues to try to acquire market share in the AI arena.
Recently, the company revealed it is hosting something called Artificial Intelligence Platform (AIP) Bootcamp, during which prospective clients will identify a use case for Palantir’s products within five days. Let’s explore why Palantir is showcasing such a program and how this may serve as a bellwether for the company’s AI roadmap.
Demand like never before
Palantir markets four core software platforms, each rooted in AI services such as machine learning and large language models (LLMs). Earlier this year, the company released its newest offering, AIP, which leverages generative AI applications to help businesses derive key insights.
Since its commercial launch, Palantir’s management claims that over 100 enterprises are currently using AIP and that the backlog of prospective customers is “unlike anything we have seen in the past twenty years.”
Given the billions of dollars that big tech is pouring into AI initiatives, it’s likely safe to say that this new frontier of the technology realm represents huge potential. That said, there are some factors investors should be aware of before diving into the stock.
Image source: Getty Images.
Finding the right fit
While the secular trends of AI may seem obvious, it would behoove investors to zoom out and think about the long-term horizon. AI is very much in its early stages, and corporations of all sizes, from large enterprises to small and mid-size businesses, are still figuring out how the technology fits into the bigger picture and can play a critical role in digital transformation. In other words, AI applications will likely represent an increasing portion of IT spend over time.
But for now, a company is probably still exploring which use cases might best fit its specific challenges. For this reason, while Palantir claims to have hundreds of prospects in its pipeline, investors should be realistic about how much business the company may derive in the near term.
This dynamic leads me to the company’s latest lead-generation project: AIP Bootcamp. The tagline for AIP Bootcamp reads: “From zero to use case in 5 days.” While all this sounds nice on the surface, investors may want to get a sense of how AIP Bootcamp is benefiting Palantir right now, if at all. Per Palantir’s blog, the company says that boot camp participants have been able to “solve problems that they have been struggling with for years in a matter of days.”
Palantir’s website has a simple form that end users can fill out to schedule their boot camp. During these sessions, users can test Palantir’s software suite to figure out which product(s) best serve their needs. I find this approach interesting for a couple of reasons.
First, Palantir now has the ability to market several products in a singular demo. In theory, this could mean that Palantir ends up selling multiple products to the same client in just one sales cycle. Another interesting takeaway is that Palantir’s end goal is to identify specific functionalities for its products within a company’s existing architecture.
Should the boot camp prove successful, Palantir is ideally positioned to sell across different groups within the same organization. This should help Palantir generate exponential organic growth from new customers in a shorter timeframe. The upside potential of a sticky customer base could lead to significant revenue growth, margin expansion, and free cash flow as Palantir should not have to allocate as much spending on customer acquisition.
Should you invest in Palantir stock?
I recently wrote an article pointing out that some on Wall Street are skeptical of Palantir’s foray into AI due to the company’s current growth trajectory. For the quarter ended June 30, Palantir’s revenue growth was 13%. However, for the trailing 12 months ended June 30, the company’s customer count grew by 38%. So, while Palantir has done a nice job showcasing how clients use its software, the revenue profile seems a little disconnected.
In a way, I think Palantir has addressed these concerns with the advent of its boot camps. Palantir is clearly not rushing its capabilities to market but rather working closely with prospective customers to build a strong, healthy backlog. Further, by allowing these prospects to demo its services, Palantir is positioning itself to cross-sell and expand horizontally within various customer cohorts, effectively becoming a core thread in the business’s broader data fabric.
To me, these boot camps represent a savvy marketing tactic aimed at building long-term relationships with customers. Long-term investors should be excited about their potential and pay close attention to the company’s customer count and revenue growth, particularly in the next several quarters.
My stance is that Palantir’s customer count may continue showing significant growth in the near to intermediate term. However, over the long term, I believe revenue and cash flow will experience noticeable growth as companies double down on Palantir and continue integrating its products across different use cases throughout the organization. And this demand, from my purview, all starts with the boot camps.
The company is demonstrating its ability to outmaneuver what is perceived to be its primary competition and is proving why it deserves to be in the same discussion as big tech. My thesis is that AIP Bootcamp will serve as a long-standing source of organic leads for Palantir and will be a major catalyst for new customers, higher average deal sizes, and more robust client retention.
For these reasons, it’s hard not to think Palantir has a bright future and is quietly becoming a major force in AI.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Adam Spatacco has positions in Alphabet, Amazon.com, Microsoft, and Palantir Technologies. The Motley Fool has positions in and recommends Alphabet, Amazon.com, Microsoft, and Palantir Technologies. The Motley Fool has a disclosure policy.


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Reported by Lauren Boothby
An increasing number of Vancouver residents are forgoing busy shopping malls in favour of a more relaxed shopping experience.
Previously only an American phenomenon, Black Friday has become more popular in Canada. Recently, those searching for sales look to find an online equivalent on the following Monday, being called Cyber Monday.
People are turning to Cyber Monday instead of Black Friday for all their shopping needs
Cyber Monday is has become increasingly popular in recent years with more people opting to shop online rather than standing in long line-ups at stores.
Andrew Feig, manager at The Granville Island Toy Company Main St. location said business has been picking up at his store since the weekend.
“With the whole Black Friday rush, people were definitely out-and-about shopping,” he said.
Feig said that a notable change this year has been an increase traffic for the online store.
“We are seeing a pretty steady increase in sales on our website. The sales had been picking up pretty gradually, and then all of the sudden it’s become really busy,” he said. “We have to staff for [online orders] in particular now.”
Shivany Shivany, a computer science student at Langara, said that she prefers buying some products online.
“You don’t have to go out, and you can have some free time at home,” she said. “I can read the reviews online.”
For some people, using their credit card online is terrifying
But not everyone is comfortable with online shopping. Alexandra Polo, a political science student at Langara, does not feel safe using her credit card online.
“I don’t really trust online shopping,” she said. “I’m from Italy so it’s not really safe to shop online. It’s because sometimes they will steal your money, or the things you buy are not really high quality, so that’s why I don’t shop online.”
Polo prefers to shop in person with cash or debit.
“I [can] see the product as well, and I see the quality of the product and the material,” she said. “Sometimes when you buy online the size may not be right or the quality may not be good.”
Click on the video below to see some new and unique toys flying off the shelves this Christmas. Video by Lauren Boothby.
Clay Streimer of the Granville Island Toy Company. Video by Lauren Boothby.

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Accra, July 16, GNA “ Patronage of condoms in Accra and its environs increases dramatically during the weekends and festive periods as compared to week days.
A survey conducted by the Ghana News Agency on the usage of condoms indicated that the recent hype that the product provides safety against sexually transmitted diseases had change the negative perception about its usage.
The survey revealed that patronage in the past was low as the use of condom was considered as immoral because it promoted sexual promiscuity.
However, the perception has changed due to recent publicity that focuses on the safety that condoms provide to users.
The survey uncovered different brands of condoms, including; Durex, Pleasure, Tiger, Contempo, Rough Ridder, Romantic, Champion, Inno, Kiss, Ghanzi, Fiesta, Cheers, Cobra, Protector Gold, Hitman, Gold Circle, Move, Guard, Man United, Chelsea, Pleasure Guard, Be Safe, Barcelona, Preventive and Adanzi.
The prices of condoms on the market ranges from Ghâ‚µ0.30 to Ghâ‚µ20.00 per pack at most of the shops GNA visited.
At the Jinlet Pharmacy at Tesano, Mrs Vincentia Aberful, told the GNA that: śdue to the high publicity on the usage of condoms for safe sex and protection, customers boldly come to buy the product these daysť.
She said the price of the condoms was based on the quality, texture and brand names, adding the purchases were based on customer™s financial situation, satisfaction required and other personal experiences.
Mrs Aberful appealed to pharmacists to educate customers on proper usage of condoms to help to reduce unwanted pregnancies and sexually transmitted diseasesť.
Mrs Beatrice Assanful at the Avenue Chemist noted that there were a few people who śstill feel shy when they come to the store to buy condoms, especially when the one attending to them is a female. They prefer to buy from male pharmacistť.
At the Tesano Shell Station Mart, Miss Riclla Nyame, said the demand for condoms goes up during Valentine, Christmas and public holidays.
śMy customers mostly purchase Rough Ridder and Kiss because of the publicity and affordabilityť, she said.
At Adabraka, Ms Lawrencia Acquaye a pharmacist at the Accra Chemist, said: ścondoms are highly patronized by both the young and old. People walk in to buy irrespective of who is at the counter.
She said: śAt times some women even walk in to buy¦.everyday is a market day for the sale of condoms, but weekends are specialť.
GNA survey also revealed that the female condoms are not in the market due to low patronage when Ms Acquaye said: śI sell male condoms because the female condoms are not well patronized and they are no more in the systemť.
Madam Grace Corpson, a pharmacist at the Frontline Pharmacy at Adabraka, said champion condoms, popularly known as CD, is the lowest priced condom on the market.
Ms Evelyn Larbi, also at Frontline Pharmacy explained that most people prefer the male condoms to the female ones śso we have stopped selling the female condomsť.
Ms Irene Inkoom, a pharmacist at Pardox Pharmacy at Adjie Kojo Klagon in the Tema municipality, said: śWe have stopped selling female condoms here because people don™t buy them and it is very difficult for us to get on the market these daysť.
Mr Michael Mensah, a pharmacist and owner of ST. Michael Herbal and Diagnostic Center, said: śeven ladies who occasionally come here to buy male condoms don™t buy the female condoms, so I have stopped selling them™™.
Sometimes some customers feel shy so they write the name of the type of condoms they want to buy on a paper and send children to buy for them. All the same the condom business is doing well.ť
GNA also visited the La Road Total Filling Station Mart, La Goil Filling Station, Mokat Chemist, and Dayden Pharmacy.


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T-Mobile USA may have had a horrible fourth quarter while its merger with AT&T(s T) suffered its death throes, but the operator is definitely taking advantage of the aftermath. T-Mobile is using the breakup fee and spectrum it won from AT&T to funnel $4 billion into LTE. The 4G service will go live in 2013, but only after T-Mobile goes through a rather complex process of shifting its networks among its different bands.
The news emerged early on Thursday morning when T-Mobile’s parent company, Deutsche Telekom, reported earnings, its first since its $39 billion sale of its U.S. operations to AT&T was canned. T-Mobile shed 802,000 net contract customers in the fourth quarter, which the company ascribed to huge competition from the new iPhone 4S(s AAPL). T-Mobile is now the only major U.S. operator without an iPhone to offer its customers, but it made do with the smartphones it does have. An astonishing 92 percent of all device sales were 3G and 4G smartphones, totaling 2.6 million device activations in the quarter.
That increasing shift away from text-and-talk devices to smartphones is driving up data plan sales as well as data consumption. So T-Mobile has decided to go for broke and build the LTE network that until now seemed so out of reach. Getting to LTE won’t be easy, because the operator doesn’t have the unused spectrum set aside like its competitors AT&T and Verizon Wireless(s vz)(s vod). Instead, it will have to carve out chunks of frequencies that are being used by its HSPA and GSM networks.
T-Mobile is helped by the huge shift in its customer base to 3G and 4G devices. Those devices connect primarily to its HSPA and UMTS networks, which support voice services as well as data and thus take traffic off its GSM networks. T-Mobile will start shutting down parts of its GSM networks and move portions of HSPA+ networks into the gap left behind. Moving some of its HSPA+ off the advanced wireless service (AWS) band will make room for LTE.
T-Mobile will also benefit from the treasure trove of spectrum it won from AT&T as part of its breakup fee. The AWS isn’t in one consistent nationwide block, but it will go a long way to adding capacity to the fledgling LTE service.


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Tiffany & Co’s first-quarter earnings handily beat analysts’ estimates on Wednesday, boosted by stronger sales of its high-end jewelry, leading the company to raise its annual sales and profit forecasts.
UK designer resale website BuyMyWardrobe has merged with HEWI London (Hardly Ever Worn It) as resale grows but competition gets tougher. It also comes as resale sites expand faster than the overall retail sector.
The Council of Fashion Designers of America will honor Ralph Lauren at this year's CFDA Fashion Awards, held June 4 in Brooklyn. Announcements are coming thick and fast with the CFDA Awards now just days away.
Fruit of the Loom is moving its HQ ops out of the UK with 70 jobs to be lost as a result. The US-based company is relocating manufacturing to mainland Europe and to North Africa as it optimises its supply chain.
Tax-free shopping facilitator Global Blue has named Derrick Hardman as the new MD of its UK and Ireland unit as the firm prepares to open London’s first VIP lounge designed specially for the most valued customers.
M&S had some good news Wednesday as it reported more customers, higher e-sales and improved Clothing & Home margins. But all other figures were poor as it spent heavily to force through the change it desperately needs.


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Tariffs, Pandemic, Supply Chains Driving Reshoring
For businesses looking for ways to prosper in these difficult times, the stage is set for OEMs and foundries to improve their lot through effective reshoring.
For one thing, the Phase I agreement the Administration signed with China in January includes tariffs of 7.5% to 25% on Chinese castings. Tariffs are also increasing overall international trade costs, as are trade barriers. Environmental initiatives are increasingly influencing supply chains.
Factory shutdowns in China because of COVID-19 are disrupting hyper-connected global supply chains, putting our heavy reliance on global suppliers further into question. A new Bank of America survey finds a “tectonic shift in global supply chains,” with more than 80% of companies in 12 global sectors in North America, the European Union and Asia-Pacific (excluding China), having “implemented or announced plans to shift at least a portion of their supply chains from current locations.”
A report by UNCTAD (United Nations Conference on Trade and Development) said, “the COVID-19 outbreak will potentially accelerate existing trends of decoupling and reshoring driven by the desire…to make supply chains more resilient.” Current conditions point to reshoring.
According to shipping giant Maersk, “there are a number of macro-economic factors that are encouraging manufacturers to shift their production centers back to Europe and the U.S.” They cite the increasing barriers to trade, meeting climate change targets and the environmental concerns of international transport as reasons. The mandated 0.5% sulfur maritime fuel oil price is forecast to be 59% more expensive than bunker fuel. Higher freight costs will be especially important for dense, relatively low labor content items such as castings.
The coronavirus has been disrupting global supply chains and threatening economies around the world. 60% of U.S. manufacturers say business has suffered because of the coronavirus according to a Thomas study. Recently, FreightWaves reported, “Chinese imports accounted for roughly 40% of the shipments entering the U.S.” in January with 7% of west coast shipments cancelled because of the outbreak. This challenges the just-in-time delivery model and emphasizes the advantage of the local for local model. 28% of companies are seeking alternative domestic sources of supply.
Quantifying the Costs and Risks
A broad range of costs and risks can be quantified using a free online Total Cost of Ownership (TCO) Estimator, such as the one offered at www.reshorenow.org. Placing a real value on more than two dozen, relevant but often ignored costs, most of which individually represent only a small percent of a product’s final total cost can tip the scales in favor of producing at home, as you will see when you plug values into the TCO Estimator.
In aggregate, savings from domestic sourcing will offset some or even all of a 15% to 30% advantage in purchase price enjoyed by low labor cost countries. TCO is a key tool in the sourcing decision process, quantifying whether the costs and risks avoided offset the often-higher U.S. manufacturing cost or price. Most of the issues are related to distance: freight, delivery, inventory, etc. Others are country-specific: rising wages, IP risk, political instability, etc.
Before tariffs and the outbreak of the virus, about 8% of imports from China were more profitably sourced here, based on Ex-Works price. The 8% rises to 32% if the decision is based on TCO. With 15% tariffs also added, the share rises to 46%. COVID-19 drives up those percentages but will eventually be history and Chinese deliveries will improve. Hopefully, U.S. companies will remember, prepare for future disruptions and reshore a large portion of what they have offshored. CS
Click here to see this story as it appears in the March/April 2020 issue of Casting Source.


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Posted by Claudine Rosca.
Endo International PLC is a generics and pharmaceutical company that delivers medicines to patients in the fields of urology, men’s health, etc. Despite their professionalism, their products allegedly were defective resulting in liability. Product liability is the responsibility that a manufacturer incurs because they sell or create a faulty product. In 2014, Endo “agreed to pay more than $400 milion to resolve lawsuit allegations.”
Their vaginal-mesh implants had eroded in their female patients which cause painful side effects. The devices are used to “support internal organs and treat incontinence,” which is a lack of control over urination or defecation. Officer Rajiv De Silva “said the company way adding $400 million to its $1.2 billion liability reserve for the devices.” The company was blamed for organ damage in women, combining to over 10,000 suits. The issue with the company was their lack of “stricter safety requirements because they are high-risk devices.” As a result of the 2014 issues among companies such as Endo and Johnson & Johnson, the FDA ordered “vaginal-implant makers to study rates of organ damage and complications linked to the devices.”
Following the allegations in 2014, Endo continues to pay millions to resolve the sums of lawsuits against the company’s vaginal-mesh implants. Recently, Endo set aside $755 million for the eroded implants which constitutes almost $2.6 billion that was paid to wipe out cases. Their Dublin-based Endo was shut down after a piling of complaints against their devices. Other previously named companies continue to face thousands of lawsuits from women who argue against their devices. The U.S. FDA continues to increase regulations on mesh inserts but companies continue to manufacture and sell faulty products.
Claudine is an accounting and IT major at the Stillman School of Business, Seton Hall University, Class of 2021.


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India is the second biggest market for mobiles, after China, and vendors were hit by intermittent supply issues during the first three months of 2022, Canalys claimed.
As usual, Chinese brands dominated, with Xiaomi holding on to the first spot with eight million units shipped, a drop from its showing in the previous quarter.
Samsung shipped 6.9 million units, the best growth among the top five vendors, 40% up year-on-year.
“This is not a great start to the year for a market like India, which has seen double-digit percentage growth even during the pandemic,” said Canalys analyst Sanyam Chaurasia.
“While most of the world’s markets battled the third wave of COVID-19 in 1Q, the relatively weaker impact on India should have helped it return to growth quickly.
"But supply remained the biggest challenge for the leading vendors, such as Xiaomi and vivo, and they struggled to secure components for their volume-driving low-end models.
"By contrast, brands such as realme, Tecno and Itel did remarkably well with solid supply to take on the market leaders and fulfill the low-end demand in 1Q.”
Chaurasia said vendors were taking steps to address the supply bottleneck.
“Sell-in started to improve from March. Channel companies are optimistic about healthy sell-in in 2Q, with vendors preparing for a strong festive quarter," he said.
"They are finding opportunities in the lower-tier cities and towns in India, where device penetration is still relatively low. It is more important than ever for vendors to focus on building a long-term offline channel strategy.”
Chaurasia said the biggest challenge that vendors would face this year would be maintaining device affordability.
“Oil prices in India are at an all-time high and wholesale inflation remains elevated, at 14.6% in March. Volatility in foreign exchange rates and higher operational costs due to inflation will, in turn, put further pressure on vendors to maintain profitability.
"But as consumers increasingly rely on their smartphones, enticing them with payment schemes has never been easier, with multiple buy-now-pay-later partners mushrooming across the ecosystem.
"The mass market will remain India’s growth engine, and having a healthy portfolio in the mid-to-low-end segment will be key to maintaining strong consumer mindshare in 2022. Availability, affordability and attractiveness will be essential for smartphone vendors to succeed as multiple uncertainties lie ahead.”


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The Chinese government has urged domestic banks to stop using high-end IBM servers and replace them with locally made equivalents, according to a Bloomberg newswire report. The instruction follows an...
With just four months to go, firms will struggle to achieve compliance
New semiconductor design could completely change system architecture by enabling brain-like computers
'Bio-inspired' computer systems would disrupt the traditional Von Neumann architecture
Ocado's technology business starting to gain traction with third major customer signing-up
Test used Micius satellite as platform for quantum key distribution


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LeBron James is on the cover of Slam Magazine and he’s rocking his LeBron 13s. That doesn’t sound like groundbreaking news. Well it’s actually the first time the shoes were unveiled. Photos and specs of the shoes surfaced but Nike never has officially dropped the shoe. LeBron James was seen at the Academy in Santa Monica with the top high school ballers to get a workout in.
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The LeBron 13s have gained a mixture of responses. While some are looking forward to them, others believe the shoes are too bulky. To lace up a player of LeBron’s size, strength, speed, and athleticism, the shoes have to be perfect for him.
The cover features LeBron standing in the “Berry” colorway. Still looking to lead Cleveland to a title, count on LeBron to be a beast once again. While the content may unveil more colorways, you won’t know until you pick up your Slam Magazine and flip through the pages. The other colorway seen is the red pair chilling on his neck.
As of now, only Kevin Durant has released his shoes for next season. With LeBron presumable close, they will drop next. Photos of the Kyrie 2 and Kobe 11s have not surfaced yet. From other brands, adidas has unveiled photos of the John Wall’s second shoe and Derrick Rose’s sixth. Under Armour’s Curry Two has released in China with a US release coming in October.


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ISLAMABAD: A two-day National Olive Festival in the heart of the Olive Valley, Chakwal, opened on Saturday to highlight the part and importance of olive fruits, oil, and other by-products. In addition to academics and international experts, it also brings together olive oil farmers from parts of Balochistan, Pakhtunkhwa and Punjab.
Com. Rawalpindi, Muhammad Mahmood, pointed to the need to involve the private sector directly from growth to production, by-products to the supply chain, while the role of government should be limited to training and policymaking to maximize success in this sector.
He recalled his role as the Punjab Secretary of Agriculture and said he was instrumental in promoting this edible oil-producing fruit. Chaudhry Abid Mahmood, Executive Director of the PARB, said on this occasion that Pakistan will achieve purity in olive oil production by 2024.
We import about 4,000 tons of olive-oil annually to meet national needs, he said.
National Director Olivia, Dr. M Tariq greeted the participants and gave an overview of the summary of the olive plant and its cultivation in oil production. The country achieved the goal in nearly a decade thanks to hard work and dedication, he said.
The Barani Agricultural Research Institute (BARI) Chakwal, Competence Center for Olive Research and Education, is organizing a two-day National Olive Festival to endorse olive farming and value creation in the country.
The event is organized in collaboration with the Pakistani Oilseed Development Council. At the festival, farmers and entrepreneurs demonstrated extra virgin olive oil and other valuable products.
“BARI has magnificently developed an olive production and value-chain development model in Pothwar that can be applied to other provinces and regions of the country to renovate various plots of land into high-quality agricultural areas,” explained M Rafique Dogar, director of the BARANI Institute.
Farmers from all over the country took part in the competition, in which experts from Italy and Spain took part as judges of the competition.
Roberto Neccia, Head of the Italian-Mission in Pakistan, and Emanuela Benini, Director of Italian-International Co-operation in Pakistan, attended the event as special guests.
Useful Article: KP Has The Most Suitability For Olive Farming
Useful Article: This Weekend’s Homegrown Tomato Festival In Concord And Charlotte


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At this past weekend’s D23's Destination D: Celebrating Mickey Mouse, Disney Parks, Experiences and Consumer Products Chairman Bob Chapek shared new details surrounding a number of experiences coming soon to Disney parks.
Chapek announced the names and the first look inside the two signature attractions set for Star Wars: Galaxy's Edge when it opens at Disneyland Resort next summer and at Walt Disney World Resort in fall 2019. The audience was also the first to hear that Academy Award-winning composer John Williams is creating original Star Wars themes exclusively for these lands, and was treated to a preview of the new music. Attendees also heard more about the new Star Wars resort experience coming to Walt Disney World Resort.
In celebration of 90 years of Mickey Mouse, Chapek shared the company’s latest plans to celebrate the character. He also shared more about the multi-year transformation of Epcot, including new attractions designed to honor the park's original vision.
Attendees also got the first in-person look at the Disney Skyliner gondolas, a new transportation system set to debut in fall 2019.
More Details on Star Wars: Galaxy's Edge
At the event, Chapek announced that guests can take the controls in one of three roles aboard Millennium Falcon: Smugglers Run. On Star Wars: Rise of the Resistance, guests can join an epic battle between the First Order and the Resistance – including a face-off with Kylo Ren.
Chapek also announced that the music for Star Wars: Galaxy's Edge will feature original themes created especially for the land by Academy Award-winning composer John Williams. Chapek shared a preview of the all-new music, recorded by the London Symphony Orchestra at Abbey Road Studios.
Chapek also provided a sneak peek at the Star Wars resort coming to Walt Disney World Resort. This multi-day, fully immersive adventure will take guests aboard a luxury starship with all the features expected of a first-class hotel, including dining, recreation, and accommodations, all authentic to the Star Wars universe.
Celebrating Mickey Mouse
With the 90th anniversary of the debut of Mickey Mouse on the horizon, Chapek shared a number of ways Disney parks will celebrate the iconic character.
The new Mickey & Minnie's Runaway Railway will use new technology to transform a two-dimensional cartoon into a real-world experience. The first-ever ride-through attraction themed to Mickey Mouse – set to open in fall 2019 – will feature a new original story and theme song as it takes guests on a journey inside the wacky and unpredictable world of Disney Channel's "Mickey Mouse" cartoon shorts.
Following the kickoff of World's Biggest Mouse Party earlier this year, the festivities continue at the Disneyland Resort with Get Your Ears On – A Mickey and Minnie Celebration, which will bring new entertainment, food and merchandise to the resort. On January 18, "Mickey's Mix Magic" will light up the night at Disneyland Park with all-new music, projections and lasers that set the scene for an epic dance party that takes over almost the entire park. Additionally, the fan-favorite Mickey's Soundsational Parade returns to the resort in January 2019 with an all-new float with Mickey himself, who will lead the celebration down Main Street U.S.A.
Over at Walt Disney World, from January 18 to September 30, Mickey & Minnie's Surprise Celebration at Magic Kingdom will feature new food, merchandise and entertainment, including a new dance party with Mickey, Minnie and their friends, and a chance to meet Mickey and Minnie together in their new birthday outfits. On the high seas, Disney Cruise Line will welcome Mickey & Minnie Surprise Party at Sea, an all-new high-energy deck party on the Disney Fantasy next summer.
Chapek also announced an all-new cinematic nighttime experience, Wonderful World of Animation, coming to Disney's Hollywood Studios on May 1 as part of the 30th Anniversary of Disney's Hollywood Studios. The show will use state-of-the-art technology to take guests on a magical journey through more than 90 years of Disney animation, all beginning with Mickey.
Transformation of Epcot
The event also included more details on the multi-year transformation of Epcot.
At World Showcase, Chapek announced that the Ratatouille experience coming to the France pavilion will be called Remy's Ratatouille Adventure. Guests will also enjoy a brand new "Beauty and the Beast" sing-along, created by Don Hahn, producer of the animated and live action "Beauty and the Beast" films. There will also be an update to the O Canada! 360-degree show.
For IllumiNations fans, Chapek announced an all-new, transformative show set to debut in 2020. It will celebrate how Disney music can inspire people from around the world, featuring massive floating set pieces, custom-built LED panels, choreographed moving fountains, lights, pyrotechnics and lasers. Before that new show debuts, there will be a limited-time experience called Epcot Forever, a celebration of the park. Debuting in fall 2019 and set to classic Epcot tunes, the show begins with a spark of imagination that quickly grows into a spectacle of fireworks, music, lighting, lasers, and choreographed, special effects kites.
During his presentation, Chapek announced details about Reflections – A Disney Lakeside Lodge, a deluxe, nature-inspired resort coming to Orlando that will feature more than 900 hotel rooms and proposed Disney Vacation Club villas.
Chapek also offered a sneak peek at Disney's Riviera Resort, inspired by Walt Disney's travels along the Mediterranean coastline. Projected to open in fall 2019, this proposed resort will be the 15th Disney Vacation Club property.


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Will Caprice do for BHS what Kate Moss did for Topshop? Philip Green hires model to 'sex up' department store
His decision to hire Kate Moss to design a collection for Topshop two years ago cemented the store's reputation as a destination for must-have fashion. Now Philip Green has signed Caprice Bourret to do the same for ailing department store BHS.
In an interview yesterday, the former Wonderbra model told how she was part of an overhaul of the chain's stores, and that her self-designed By Caprice lingerie range will be available to buy there.
Far be it from us to question the billionaire entrepreneur's decisions, but the U.S.-born 38-year-old has never had quite the same cachet as supermodel Moss, whose style is as closely followed as her partying and love life.
Sir Philip Green has signed former Wonderbra model Caprice in a bid to 'sex-up' the image of BHS and attract a younger customer
But Green must know what he is doing as last year Arcadia, Topshop's parent company, posted a 13 per cent rise in pre-tax profits to £213.6million -despite a global recession and what he called 'one of the most challenging retail landscapes ever'.
Speaking to the Daily Express, Miss Bourret said: 'They are refurbishing the BHS stores and trying to sex them up and attract a younger market so they called me as they wanted to bring my brand in.
'It was nice actually for them to contact me as normally it’s me stalking people and trying to get them to stock my range.'
Partnership: Sir Philip at a fashion show with Kate Moss, who designs a hugely successful range for Topshop, now in its 12th season
The By Caprice label, which launched in 2001 by Debenhams and has been owned independently by the model since 2006 has suffered in recent years, with the recession affecting the business badly.
'I lost a lot of money,' she admitted. 'I didn’t get any loans for the business so all the money in it is mine and so are all the risks. Luckily things are looking up.'
She added that, despite the risks involved, she was loving her new career as a businesswoman, describing it as the most rewarding thing she had ever done.
And unlike many celebrities involved in fashion ranges, it seems she is very hands-on.
Caprice modelling her 'Can Can' bra, £18, and shorty, £10, and right, wearing the ribbon-trimmed 'Electra' bra, £20, and thong, £10
‘I go to Paris to the lingerie trade shows in January and August to check out trends and pick the fabrics I like,’ she told Mailonline in an interview two years ago.
‘In May we sell millions of the white gel bras, at Christmas, predictably red.
‘I access the data my clients send me each week and make changes according to how products are selling. I always say to companies don’t spend so much on market research. It’s so easy - just listen to your customers!’
The By Caprice collection launched in a west London branch of BHS yesterday. Bosses plan to assess its success before rolling the range out across the rest of its stores.
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Action on the Stop Online Piracy Act (SOPA) has stalled for the year, but those opposed to it are gearing up to target those in support of the controversial legislationparticularly GoDaddy.
A Reddit user is calling on those with GoDaddy domains to move them elsewhere on Dec. 29; Cheezburger CEO Ben Huh has already pledged to make the move.
"We will move our 1,000 domains off @godaddy unless you drop support of SOPA. We love you guys, but #SOPA-is-cancer to the Free Web," Huh tweeted today.
SOPA would expand the ability of the Justice Department to go after Web sites overseas that traffic in fake goods like counterfeit purses or prescription drugs. According to the bill's sponsor, Rep. Lamar Smith, the DOJ would have to get a court order against an infringing site, and if granted, could request that the site be blocked. Search engines would then have to remove links to those sites.
Critics, however, are concerned that the bill is too far-reaching and broad, and could potentially harm Web sites that don't actually contain infringing content or were acting in good faith.
In response to the backlash, GoDaddy today re-posted its SOPA statements from October and November, in which it called the bill "a welcome step in the right direction." Those opposed have a "myopic view" of SOPA, GoDaddy argued.
"The question should be how, not whether, we develop a notice and takedown regime in a responsible and responsive way. At GoDaddy, we are proud of our best practices and believe that they exemplify a model for the rest of the ecosystem," the company said.
The House Judiciary Committee is scheduled to take up SOPA when it reconvenes in 2012; a similar Senate bill, dubbed the PROTECT IP Act, will be considered in late January.
For more, Digital Trends has posted a list of companies that support SOPA.
Update: GoDaddy has now withdrawn its support amidst the backlash.
For more from Chloe, follow her on Twitter @ChloeAlbanesius.


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China launched its Central Bank Digital Currency (CBDC) coined the Digital Currency/Electronic Payment (DC/EP) in April 2020, after a six-year research and development phase. Its launch was widely examined and reported, but there has been no significant piece on China’s experiment in the context of China’s economic status and international standing. This is what today’s blog post will explore.
China’s Domestic Economy
In April 2020, China saw a 6.8% contraction in its economy, the first contraction since recording figures in 1992, largely as a result of the mass shutdowns and quarantines in the wake of the COVID-19 pandemic in late January. Analysts have predicted that this contraction negates the 6% expansion in China’s economy recorded at the end of 2019.
China has had a persistent issue with non-performing loans (NPLs). In 2001, China had around 29.8% of gross loans considered defaulting loans, but by 2010 had managed to drastically reduce NPLs. NPLs rose yet again post-COVID, with reports suggesting that China’s $41 trillion banking system could suffer an $1.1 trillion increase in bad debt this year. June 2020 also saw two bank runs amidst fears of collapse at Chinese banks.
The DC/EP could potentially have an impact on NPLs, particularly in the manner in which NPLs are dealt with, if implemented at a full scale. This is explored in depth in our Report Series on China’s Digital Currency.
China has seen deteriorating relationships with several countries, and this has been compounded by the onset of the COVID-19 pandemic. The US and China have had a challenging relationship since the trade war beginning 2018.
In 2018, the US imposed tariffs on $550 billion of Chinese products, and China subsequently imposed additional tariffs on $185 billion of US goods. The countries reached a deal, wherein China committed to purchase an additional $200 billion in US goods and services over two tears, remove barriers to various US exports, and the US agreed to suspend an additional 15% tariff on around $162 billion worth of imports from China and reduce some newly imposed duties.
Between 2018 and 2020, US-China tensions have dampened investor sentiment with the tariff battle eroding $1.7 trillion worth market capitalization of US listed companies. The COVID-19 pandemic further worsened diplomatic relations between the US and China, with the US accusing China of downplaying the severity of the virus and hiding the actual damage.
US-China tensions have now seeped into the financial sector with the US threatening to financially decouple China. Currency has itself become a bone of contention between the two countries. China has accused the US Government of weaponizing the dollar by leveraging the dollar’s global dominance to impose sanctions and ensure extraterritorial application of US law. The US has accused China of manipulating the yuan and intentionally lowering the value of the dollar-pegged yuan
Geopolitical tensions are not limited to the US, but also include the Quadrilateral Security Dialogue (commonly called the ‘Quad’) – an informal forum comprising India, Japan, Australia and the US. Both India and Australia have had clashes with China in the recent past. The India-China border dispute has severely soured relationships between the two countries, with several skirmishes on the Line of Actual Control between the two countries escalating tensions. Tensions between Australia and China rose in 2020 with Australia conducting an independent investigation into the origin and spread of COVID-19, and China targeting Australian exports to China in a retaliatory move. Japan has not been spared from tensions with China, with disputes regarding the East China Sea area around the Senkaku Islands causing both countries to escalate military presence in 2020.
The post-COVID era has seen multiple countries introducing regulations scrutinizing Chinese investments due to China’s attempts to acquire companies through distressed takeovers in a risk-off mode.
Impact on Trading Relationships
Amid already deteriorating trading relationships, China has seen the COVID-19 pandemic worsen the global trade outlook. Countries are gradually deglobalizing, and this has a negative impact on the world and on China. While the idea began to take shape in 2019, the 2020 pandemic drove countries to retreat from global economic integration, severing supply chains and trade relationships. Globalization is in retreat for the first time since World War II.
Both the US and China have had domestically-focused policies. China, under President Xi Jin Ping, has turned inward with policies to promote the indigenous development of leading industries. The US, under President Trump, embraced an “America First” policy, which saw a withdrawal from the Trans-Pacific Partnership and a shift away from trade liberalization and toward protectionism.
China has nonetheless attempted to leverage its trading relationships cultivated by the Belt and Road Initiative. As of August 2020, China has posted a trade surplus, and its dollar-denominated exports rose by 9.5%.
The Role of the DC/EP
On all these dimensions – domestic and global – the DC/EP plays a significant role. It could fundamentally shift currency dominance and could potentially change several trade-related processes. China’s global relationships are also key to the success of the DC/EP. These many dimensions of the DC/EP projects – monetary, economic, financial and geopolitical – have been examined in depth in our comprehensive 4-part Report Series on China’s Digital Currency. You can sign-up to be notified here.
Leave us a comment telling us what you think! And keep on the lookout for our next blog post coming soon.


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Fallout 4‘s virtual reality version could be hitting hard, according to some insiders.
At the VR World Congress, AMD’s Corporate Vice President, Roy Taylor said that Bethesda‘s in-development, and possibly shortly launching VR game could be changing the industry as a whole.
That’s a bold statement, especially because we haven’t seen Fallout 4 VR in action yet! If we add that he compared the game to none other titles than Super Mario Bros. and Sonic The Hedgehog, we could think of two things. Either he forgot to take his medication, or he knows something that we don’t!
Previously, Bethesda‘s Pete Hines has also hyped the game – let’s just hope that Fallout 4 VR will not be falling due to the overhype around it…


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Facebook CEO Mark Zuckerberg almost made the Metaverse a household name… [+] Facebook itself. At present, investments related to the Metaverse are unprofitable. (Photo: ANDREW CABALLERO-REYNOLDS/AFP) (Photo: ANDREW CAballero-REYNOLDS/AFP via Getty Images)
The Metaverse is a failure. Games are dumb. I tried DecentralandMANA, a token I foolishly own. My avatar is constantly hitting the wall. Even if I paid for premium services, skins or whatever, I can’t imagine it being that much fun. The token has fallen by 81% since the beginning of the year. It’s a miracle they’re still in business. Grayscale’s Decentraland ETF is now being bought for 60 cents by crypto vultures who love it and think it might hit $1 again one day.
In the mid-2000s, I watched Caprica on the SyFy channel. It’s a prequel to the reimagined Battlestar Galactica that takes AI and robotics to a whole new level. In Caprica, teenagers live in virtual worlds wearing glasses that look like what Oculus headsets will look like in 20 years. Only their avatars look more like themselves than some blocky Minecraft character with a stupid mask. It looks attractive, if not scary, and a little dystopian. Our metaverse is nothing like it. It is too early. At the same time, there will be many unsuccessful projects. Right now, everything you can do in the virtual world is easier to do in the real world.
Shades of Gray are investing heavily in crypto-related exchange-traded funds to attract retail investors to the market … [+] Here, their Dencentraland fund has fallen over 80% since the beginning of the year.
About a year after billionaire Mark Zuckerberg renamed Facebook “Meta Platforms” in the hope that Covid lockdown would teach us all the dystopian sci-fi lifestyle depicted in Caprica, the Wall Street Journal reported Oct. 15. own standards, the metaverse has not yet caught up with its user base. Nobody knows what brought them there.
Zuckerberg warned investors ahead of time that the transition to living in a virtual world would take years, if not generations. Even Generation Y, who grew up on Instagram and TikTok, prefer to be in front of each other rather than in the virtual world. The world of players and the entire gaming experience is still friends playing against each other via broadband access on the PlayStation or Xbox console.
The Wall Street Journal reported that the meta’s flagship product, Horizon Worlds, fell short of expectations. But while most titles are rather lackluster and often only feature hot sexy trailers to lure gamers in early on, there is still a belief that virtual worlds like those depicted in sci-fi will become a reality.
Facebook describes the Metaverse as the successor to the mobile internet. where it is today For today’s investors, owning Metaverse Securities was unprofitable.
Screenshot from the Etro fashion show during Metaverse Fashion Week on March 25, 2022. Someday, … [+] these images will look more realistic and may (or may not) encourage people to buy tickets to a fashion show to perform from afar, minus hotel costs. (Photo by Vittorio Zunino Celotto/Getty Images)
If the future is sci-fi virtual reality, at least to some degree, then the Metaverse investment theme is long-term. Companies come and go, but the concept of the Metaverse remains history for traditional companies like Facebook and those in the cryptocurrency space.
Meta says they hope to connect 1 billion people to various Metaverse platforms, including their own, over the next 10 years.
GartnerIT predicts that by 2026, 25% of people will spend at least one hour a day working, shopping, etc. in the metaverse, and 30% of organizations worldwide will provide products and services in the metaverse.
Such predictions have helped Metaverse projects raise more than $177 billion in investment since the start of 2021.
Popular brands such as Gucci, Coca-ColaKO, Nikeland’s own Nike, are built on the Roblox platform and have begun selling digital assets and offering virtual fittings, auctions, and virtual factory tours.
“Without a doubt, the Metaverse today is a rapidly growing trend and the dream of many for decades,” said Alexei Kulevets, co-founder and CEO of Walken.
There are many reasons to believe that the Metaverse will gain momentum, such as the emergence of some virtual reality games, cheaper virtual reality headsets for immersive experiences, and traceable blockchain technology that enables secure transactions. The younger generation is accustomed to buying items in video game worlds and accustomed to collaborating with other people in those worlds through headsets and consoles.
The hype has far surpassed reality. Bitcoin is crashing right now, so the market looks depressed. Meta’s market capitalization, which was over $900 billion when the company changed its name from Facebook, is now around $344 billion.
Even though over $200 billion has been invested over the years, there really isn’t a Metaverse product that anyone can buy. No Xbox Metaverse console can take you and your friends to a virtual nightclub.
“Mission of Metaverse Inc. is to really immerse a person in a whole new world,” said Jorditz, CEO of MetaMetaverse in Palo Alto, the Metaverse developer platform. “I don’t think bulky VR headsets are ideal, but it’s not surprising that while the software side of immersive experiences is being created and made available to individuals, the hardware is currently facing a barrier that prevents people from fully immersing themselves in these virtual spaces. . .”
Aside from the stunning Hollywood trailers, the graphics on these platforms are no better than the Nintendo of the 1990s, even in the Meta’s Horizon universe. When Meta announced the launch of Horizon Worlds in France and Spain, it was met with widespread ridicule. Some say the technology is “too buggy”.
In the world of cryptocurrency investing, patience can last for six months. Simon Vieira, CEO of Mixmob, said the market has taken some time to mature and looks attractive.
“About 50 years ago, we were just a few pixels moving around in a ping pong ball. Imagine what will happen in the next 50 years with cheaper tools, more talent and faster internet speeds,” Vieira said.
The desktop-based interface can finally solve graphics problems. New technologies such as Unreal Engine’s Pixel Streaming, which allows developers to run complex 3D applications on the web that are streamed and rendered in the cloud, are seen as bringing the Metaverse out of its childish world of blocky characters.
“Ultimately, this means that your computer is just an empty bridge between the virtual world and super-powerful machines elsewhere,” Vieira said. This will create better virtual worlds, a better virtual world, a world that will eventually contain the virtual you as a hologram, the metaverse that most developers are trying to build.
Some people think it’s a good thing that Zuckerberg’s vision of the Metaverse is crumbling. Big technologies already control much of our data and influence our lives. With Meta’s Horizon Worlds, Zuckerberg is trying to create a proprietary version of the Internet, similar to his Internet.org initiative, in which he controls everything consumers can and can’t access. This is a concern given Facebook’s reputation for user privacy.
“There is growing concern about the potential for espionage and user data harvesting on the Metaverse platforms, which seems inevitable,” Kulevets said, but that doesn’t stop him from being optimistic about Metaverse.
The Meta Oculus Quest 2 headset has outsold Microsoft’s Xbox Series X and S and is catching up with the PlayStation 5. This milestone makes Meta’s top VR headset the most successful VR product ever, with headset sales up 97% since 2021. Everyone is aware of the issues of privacy and data collection, but they are not overly concerned and do not understand why this is being done.
“In practice, user behavior shows that a good product outweighs privacy concerns,” says Julia Schwartz, chief strategy officer for Everyrealm Inc, a New York-based virtual real estate investor and developer of real estate metaverse projects.
Even though Meta Platforms has lost half of its market capitalization since the name change and is focused on becoming a powerful engine in virtual worlds, there is still a consensus that Metaverse will one day be a multi-trillion dollar industry. Meanwhile, all participants are growing.
For those who are patient, JPMorgan analysts have estimated that around $54 billion is spent on virtual goods each year, and McKinsey & Company says the metaverse could generate up to $5 trillion by 2030.
“With its user base and capital firepower, Facebook has a huge advantage in being an industry leader,” Schwartz said. “Zuckerberg was ahead of his time in recognizing the possibilities of the metaverse, and now others are trying to catch up.”
There is still a lot of work to get users interested. Investors can cut their losses and only buy back those tokens that have fallen 50% or more this year.
“We are social animals. The metaverses need to solve this problem first. Will the game Horizon Worlds or the anonymous decentralized metaverse win? We don’t know that today, but we do know that they both drive the entire virtual world. A welcome progress. It was definitely the most exciting a moment to watch and be a part of,” Kulevets said.
Post time: Apr-21-2023


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China's highly competitive smartphone market grew a wholesome 6% yearly in 2016 against 2% in 2015 with Oppo, Vivo and Huawei capturing almost 50 % of the market. The Chinese language smartphone market observed a continuous rise in shipments as original equipment manufacturers (OEMs) also started to fill channels ahead of the Chinese New Year season.
For the year 2016, Huawei presented the best market talk of 16.4% guaranteed by affordable Honor smartphones and a wholesome demand for flagship P and Mate series. "Huawei has gained a foothold in the top quality market with the successful release of P9 and Partner 8 and can continue steadily to put more emphasis in the prime market in the years ahead challenging Apple. If you want to know about other awesome features of Huawei smartphone, then you can browse www.prezzosmartphone.com.
The final one fourth of the year was designated with group of flagship updates from key brands such as Apple, Oppo, Huawei, Xiaomi which catalyzed the smartphone demand in China, much healthier than this past year.
Within the 1/4 stopping Dec 2016, the demand for smartphones in China continued to be healthy as the smartphone shipments were up by 12% on a yearly basis and 9% sequentially driving the full year growth and record volumes. Overall smartphone shipments in 2016 were 3% over 2015, although it was smooth in 2015 against 2014.
A scholarly review remarked that Oppo, Huawei, Vivo, Meizu and Gionee drove a lot of the size, capturing a 58% of the total Chinese smartphone market in 2016 while demand for previous year's legend performers Xiaomi and Apple continued to be low, recommending that only five brands — Oppo, vivo, Gionee, Meizu and Huawei — listed healthy development through the year 2016.


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PayPal Launches ‘Pay In 4’ Installments Credit Options
PayPal Holdings Inc. has launched a short-term installment offering “Pay in 4” for customers in the U.S, as part of its “Buy Now Pay Later” product suite. It will be available to consumers on qualifying purchases in early the fourth-quarter of 2020.
The “Pay in 4” option enables merchants and partners to get paid upfront while enabling customers to pay for purchases between $30 and $600 over a six-week period, PayPal said in a statement.
The company said Pay in 4 is included in the merchant’s existing PayPal pricing, so that merchants don’t pay any additional fees to enable it for their customers. Consumers pay no fees or interest, and payments are seamless with automatic re-payments. Pay in 4 will also appear in the customer’s PayPal wallet, so they can manage their payments in the PayPal app.
PayPal said it also offers several other financing options. PayPal Credit is the most commonly used buy now pay later service. It is a reusable line of credit with various promotional offers built in like 6 months special financing and Easy Payments, available in the U.S. and U.K.
PayPal provides PayPal Ratenzahlung and Paiement en 4X- installment products in the German and French markets. It also offers Pay After Delivery, a buy now, pay later offering in Australia, Canada, France, Germany, Spain, the Netherlands and UK.
N.J. Indoor Dining Can Resume Friday With 25% Capacity Limit
New Jersey indoor dining, closed for more than five months, can reopen starting Friday, Governor Phil Murphy said in a tweet.
Service will be limited to 25% capacity, with social distancing between tables. “Reopening responsibly will help us restore one of our state’s key industries while continuing to make progress against #COVID19,” he wrote.
Gyms, indoor dining and theaters will be the last to return after Murphy, in a step to slow the novel coronavirus’ spread, ordered nonessential businesses to close on March 21. Gyms can open starting Sept. 1, with restrictions. The governor made no mention Monday of movie and live theaters or other performance spaces.
In a Facebook post, the New Jersey Restaurant and Hospitality Association said it was awaiting the reopening guidance, and expected “some air ventilation restrictions.”
The governor has scheduled a 1 p.m. news conference. Almost 16,000 New Jersey deaths have a lab-confirmed or probable coronavirus link.
US STOCKS SNAPSHOT-S&P 500 hits record high at open for sixth straight session
Aug 31 (Reuters) – The S&P 500 hit a record high at the open on Monday for the sixth straight session, as bets on an economic revival due to prolonged central bank support put the index on course for its best August in decades.
The S&P 500 opened higher by 1.72 points, or 0.05%, at 3,509.73.
The Dow Jones Industrial Average fell 10.21 points, or 0.04%, at the open to 28,643.66 and the Nasdaq Composite gained 23.18 points, or 0.20%, to 11,718.81 at the opening bell. (Reporting by Medha Singh in Bengaluru; Editing by Shounak Dasgupta)
CANADA STOCKS-TSX set for fifth straight monthly gain on rebound hopes
Aug 31 (Reuters) – Canada’s main stock index eased at the open on Monday but was still set for its fifth straight month of gains amid historic global stimulus and optimism around a post-pandemic economic rebound.
* At 9:38 a.m. ET (1338 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 65.11 points, or 0.39%, at 16,640.68. (Reporting by Shashank Nayar in Bengaluru; Editing by Ramakrishnan M.)
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EARNINGS SUMMARY: Details of Highway Holdings Ltd Q1 Earnings Report
Below are the earnings highlights for Highway Holdings Ltd (HIHO):
-Earnings: -$0.22 million in Q1 vs. -$0.10 million in the same period last year.
-EPS: -$0.06 in Q1 vs. -$0.03 in the same period last year.
-Revenue: $2.06 million in Q1 vs. $2.85 million in the same period last year.
European Economics Preview: Germany Ifo Business Confidence Data Due
Business confidence and revised quarterly national accounts from Germany are due on Tuesday, headlining a light day for the European economic news.
At 2.00 am ET, Destatis is scheduled to issue Germany’s revised GDP data for the second quarter. According to preliminary estimate, the economy contracted 10.1 percent sequentially versus a 2 percent fall in the first quarter.
In the meantime, Statistics Norway releases the second quarter GDP data. The mainland Norway is forecast to shrink 6.1 percent sequentially versus a 2.1 percent drop in the first quarter.
At 3.00 am ET, producer prices from Spain and industrial production from Austria are due.
Half an hour later, Statistics Sweden is set to issue producer prices for July. Prices had declined 3.8 percent on year in June.
At 4.00 am ET, Germany’s ifo business confidence survey results are due. Economists forecast the business climate indicator to rise to 92.2 in August from 90.5 in July.
In the meantime, unemployment data is due from Poland. The jobless rate is seen unchanged at 6.1 percent in July.
At 6.00 am ET, the Confederation of British Industry publishes Distributive Trades survey data for August. The retail sales balance is forecast to rise to 8 percent from 4 percent in July.
At 8.00 am ET, Hungary’s central bank is set to announce its interest rate decision. The bank is set to keep its key rate unchanged at 0.60 percent.


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Macy’s Inc. plans to hire 80,000 seasonal employees for its Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers — 2,000 more than last year, the St. Louis Business Journal reports.
Macy’s will hire 1,700 for its eight St. Louis-area stores, and its website lists the same number of stores in the Kansas City area.
Most of the jobs are part-time and require evening, weekend or overnight shifts. However, the jobs could turn into permanent positions based on skills and performance.
With the announcement, Macy’s joins a host of other retailers that have announced big holiday hiring plans. Those include Toys “R” Us Inc., Wal-Mart Stores Inc. (NYSE: WMT), Target Corp. (NYSE: TGT), Kohl’s Corp. (NYSE: KSS) and Limited Brands Inc. (NYSE: LTD).


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By Don Miller
The U.S. trade deficit narrowed for a record sixth consecutive month in January to the lowest level in six years as imports and exports both slumped on weak domestic demand, government data showed on Friday.
Weak American demand for everything from oil to automobiles led to shrinking imports, which fell faster than exports, reducing the gap by 9.7% to $36 billion, compared to the $38 billion Wall Street expected, the Commerce Department said Friday in Washington.
"The narrowing reflects the ongoing economic downturn. U.S. consumers are pulling back and that's resulting in fewer imports while exports are falling," Mark Zandi, chief economist at Moody's Economy.com in West Chester, Pa., told Reuters. "It reflects how bad economic conditions are everywhere."
For the first time since 1982, total world trade is expected to decline this year as businesses and consumers cut back on spending in response to relentlessly poor economic news. Even China chimed in early this week reporting its exports plunged 25.7% in February from a year earlier, while imports declined 24.1%.
The narrower gap is bad news for the U.S. economy because it mainly reflects a drop in petroleum prices. Excluding petroleum, the deficit was little changed at $21.3 billion.
The numbers used to calculate gross domestic product (GDP), which eliminates the influence of prices, showed the trade deficit widened to $44 billion, the most since October, Bloomberg News reported.
Imports slid 6.7% to $160.9 billion, the least since March 2005, led by a $4.3 billion drop in crude oil purchases. Foreign automobile sales plunged by $3.3 billion.
The Organization of Petroleum Exporting Countries (OPEC) deficit dropped to $3.9 billion, the smallest since November 2003, and the gap with Japan plummeted to the lowest level since 1998.
The shortfall with the European Union was sliced by half from $7 billion in December to $3.5 billion in January.
The largest concern for the United States is the dive in exports, as foreign demand for American-made goods slackened. Exports plunged 5.7% to $124.9 billion, the lowest in two and a half years, as sales of automobiles, computer chips, telecom equipment and drilling gear dropped, the report showed.
U.S. exports of food, feeds and beverages were up marginally in January, but important categories like consumer goods, capital goods and industrial supplies all showed declines.
"It's not a good report for U.S. manufacturing," Julia Coronado, a senior U.S. economist at Barclays Capital Inc. (BCS) in New York, told Bloomberg. "This is certainly a sign that the global weakness is feeding into the domestic economy through the export channel."
After shrinking at an annual rate of 6.2% in the fourth quarter of 2008 - the most since 1982 - U.S. GDP is forecast to contract further this quarter. The collapse in U.S. exports led to a widening in the trade gap that subtracted 0.5% from growth last quarter.
News and Related Story Links:


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by Nitin Dahad
In March 2011, on my first ever visit to Latin America, I discovered that there was an emerging startup scene in Brazil, in places like Sao Paulo, Recife, Porto Alegre, Rio de Janeiro and Florianopolis. And of course there is Campinas, which is sometimes cited as Brazil’s Silicon Valley. But as I continued to work there and understand the challenges faced by businesses trying to sell into Brazil, I also discovered that it would be some time before the innovation and entrepreneurship ecosystem flourishes like in some cities in the USA, UK or India.
The challenge in Brazil is a whole system that is geared up to encouraging people to go into public sector jobs, and the aversion to risk, or starting your own company, is significant, as one Silicon Valley based entrepreneur I once met trying to establish himself in Brazil had told me – his wife was running a technology business accelerator in Florianopolis. Also the bureaucracy, employment law and taxes make it difficult for an entrepreneur – but despite this, there are startups that succeed, but they would have done so with huge hurdles to cross.
On the other hand, Chile was at that time running an aggressive marketing campaign to show how easy it was to start up and grow a business in the country.
So it is with curiosity that I read the latest press release entitled ‘Top 5 cities to launch a company in Latin America’, issued by Dafiti Group, a Sao Paulo based e-commerce site for apparel, shoes, accessories, beauty, home and décor, with operations in Brazil, Argentina, Colombia and Mexico. This list looks similar to the four cities highlighted as the best cities to launch a startup in Latin America by GigaOm in September 2014.
So here is Dafiti’s list:
Buenos Aires, Argentina
As well as being the political, financial and commercial centre of Argentina, Buenos Aires is one of the most cosmopolitan cities in South America and subsequently the region’s most dynamic startup hotspot.
Funding and support: the local seed fund accelerator NXTP Labs provides upcoming startups with a seed investment of US $25,000. Local government recently announced an initiative to invest US $3.5 million to support local startup accelerators.
Trump card: the workforce is both highly skilled and cost efficient: 35.2 percent of the working population hold a certificate in tertiary education, whilst the minimum wage stands at a reasonable US $548 per month (2015).
Success story: Mercadolibre is the Argentinian eBay and the most successful startup in the country. Its service is now available in 13 countries and eBay is a listed shareholder.
The startup flow in Colombia is growing exceptionally fast. The most recent Colombia Startups meeting, an annual event for entrepreneurs and investors, hosted 1500 attendees of whom 164 were investors – an increase on the previous year’s attendees by 25 percent.
Funding and support: programs like Ruta N, an innovation and business centre created by local government, aim to boost new businesses which promote and strengthen the scientific, technological and innovative development in Colombia.
Trump card: Medellin runs on a similar time zone to the west coast of the United States. In 2013 Medellin was named the most innovative city of the year by the Urban Land Institute due to its progress and potential.
Success story: PagosOnline started with just US $5000 in 2002. Thirteen years, a rebrand and an investment of US $10 million later, PagosOnline by PayU is now is the biggest platform for online payments in Latin America.
São Paulo, Brazil
The Brazilian economy is expanding rapidly and is subsequently a good landscape for both foreign and local businesses.
Funding and support: the national startup initiative, Startup Brazil, supports companies less than four years old. This program provides support for startups in the form of investment, physical infrastructure, legal advice and training. The Brazilian government is also promoting initiatives for startups through its Tech Sampa program, which aims to create and attract innovative technology ventures.
Trump card: as the largest economy in the southern hemisphere, Sao Paulo is a great environment for building contacts and expanding operations.
Success story: worth more than US $250 million, Dafiti, Brazil’s largest online fashion retailer is one of the most interesting startups in Latin America. Available in six countries, Dafiti is helping reshape the future of e-commerce in Latin America through its use of iBeacon technology.
As México’s richest city, Monterrey is considered to be one of the best places to do business in the country and stands as a symbol of progress in Latin America.
Funding and support: Startup Studio Monterrey, a Mexican startup incubator, recently launched a program to provide entrepreneurs with projects in the IT sector with specialized mentoring and workplaces. Entrepreneurs don’t have to pay to be part of the program but the incubator takes 6 percent of each project’s profits.
Trump card: the tech industry in Monterrey has grown three times faster than the global average in the last 15 years. This rapid growth is generally attributed to the support and funding available in the city.
Success story: Huichol Vertical Gardens has grown from a hobby to a thriving startup. Since growing the niche market in Monterrey, they have extended their operations all over Mexico and plan to expand from residential to corporate projects this year.
Santiago is the economic, cultural and now the financial centre of the country. Its increasing appeal to international entrepreneurs is one reason why the startup scene here is quickly becoming known as the ‘Chilecon Valley’.
Funding and support: the Chilean government’s program Startup Chile aims to attract world-class entrepreneurs to the country. If accepted onto the program, participants receive an initial US $40,000 grant, a year-long resident visa and support from entrepreneurs in the relevant sector.
Trump card: due to Chile’s reduced regulatory complexity, businesses are fully registered within an average of 5.5 days – a drastic difference to the continent’s average of 30.1 days (World Bank Group).
Success story: Motion Displays is an app which optimizes client – sales team contact for businesses. The startup currently has a partnership with Falabella, the largest department store in South America, and plans to expand into larger foreign markets in the coming year.


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Update: Apple has now issued a statement.
iPhone 6 and iPhone 6 Plus as well as iPhone 6s, iPhone 6s Plus and iPhone SE models are all available for sale today in China. We appealed an administrative order from a regional patent tribunal in Beijing last month and as a result the order has been stayed pending review by the Beijing IP Court.
Bloomberg reports a Beijing Intellectual Property Office ruling that the iPhone 6 and 6 Plus violate the design patent of a Chinese phone, and that Apple must cease sales of both models within the city.
The iPhone 6 and iPhone 6 Plus infringe on Shenzhen Baili’s patent rights because of similarities to its 100C phone, the Beijing Intellectual Property Office wrote in its decision. Apple, whose iconic gadgets helped define the modern smartphone industry, didn’t respond to requests for comment.
Bizarre intellectual property rulings are not unusual in China – witness Apple losing the exclusive right to the iPhone trademark there last month – but this one does appear to set a new record, as the iPhone 6 looks nothing like the Baili 100C …
Patently Apple reports that Apple has already filed a lawsuit calling for the ruling to be annulled. Bird and Bird partner and IP specialist Ted Chwu said that Apple has a number of legal options open to it.
“If the position by the Beijing IP office is upheld and Apple doesn’t appeal further, then in theory they wouldn’t be able to sell the iPhone 6 and iPhone 6 Plus,” he said, [but noted that] Apple can try to stave off a sales ban by appealing in several venues, including the Beijing Higher People’s Court and the Supreme People’s Court.
The claim is likely an attempt to achieve a financial settlement with Apple. Although there would appear to be no valid basis for the claim, Apple does sometimes settle disputes rather than go through protracted legal proceedings.
The ruling comes at a time when iPhone sales are already down, and Chinese brands have big ambitions. Apple has a somewhat uneasy relationship with the Chinese government, which sometimes acts without warning.
This particular ruling currently applies only within Beijing, a city of some 22M people, but could set a precedent for the rest of the country if not overturned. It seems hard to imagine that it won’t be quashed by a court, but nothing is ever certain with China.
FTC: We use income earning auto affiliate links. More.


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UBS Group set a €35.00 ($41.18) target price on STMicroelectronics (EPA:STM) in a report issued on Wednesday morning, Borsen Zeitung reports. The brokerage currently has a neutral rating on the semiconductor producer’s stock.
A number of other equities analysts also recently issued reports on the company. Kepler Capital Markets set a €40.00 ($47.06) price target on STMicroelectronics and gave the stock a buy rating in a research report on Friday, January 29th. Deutsche Bank Aktiengesellschaft set a €40.00 ($47.06) price target on shares of STMicroelectronics and gave the company a buy rating in a report on Friday, January 29th. Barclays set a €42.00 ($49.41) price objective on shares of STMicroelectronics and gave the company a buy rating in a research note on Wednesday. The Goldman Sachs Group set a €30.00 ($35.29) price objective on shares of STMicroelectronics and gave the company a sell rating in a report on Thursday, February 11th. Finally, Berenberg Bank set a €39.00 ($45.88) target price on STMicroelectronics and gave the stock a neutral rating in a report on Thursday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. STMicroelectronics presently has an average rating of Buy and a consensus target price of €36.73 ($43.21).
Shares of EPA:STM opened at €32.66 ($38.42) on Wednesday. The business’s 50 day moving average is €31.43 and its 200 day moving average is €31.14. STMicroelectronics has a 52-week low of €12.40 ($14.59) and a 52-week high of €21.45 ($25.24).
STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products in EMEA, the Americas, and the Asia Pacific. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The Automotive and Discrete Group segment offers digital and analog automotive integrated circuits (ICs); and discrete and power transistor products.
Read More: Cash Asset Ratio
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London Wine Fair set for biggest digital drinks event globally, bookings now live
With the London Wine Fair now less than two weeks away the schedule of content has been revealed, and it promises to be a bumper event for the trade.
This year’s event boasts more than 30 sessions, ranging from industry briefings, to panel discussions and tasting masterclasses. Excitingly, from today (Wednesday 5 May) visitors will be able to book their tasting masterclasses, to ensure samples arrive in time ahead of the event.
More than 500 wineries will be exhibiting , showcasing in excess of 3,000 wines.
Headlining the schedule of content, which is now live, will be a double bill from the Wine & Spirit Trade Association (WSTA). Chief Executive Miles Beale is set to host a panel debate on the first two mornings. The first is entitled “Wine Trading 2021: Where are we?” and will explore the impact of Brexit and Covid-19 on trading conditions. The second, “Wine Trading 2021: Are we there yet?”, will go ahead on Tuesday morning.
The full schedule of events for a jam-packed show can be found here. Event highlights include:
Monday, 17 th May: 11h00 – 12h00
“How the drinks industry can drive diversity”
How the drinks industry can do more to promote and take effective action to drive diversity and inclusion through the supply chain and into retail and hospitality sectors. Panellists: Johanna Anderson, The WSET; Ross Carter, The Drinks Trust; Kirsten Macleod, Green Park Executive; Deano Moncrieffe, Equal Measures, Hacha Bar; and wine business strategy consultant, Sumita Sarma.
Monday, 17 th May: 14h00 – 15h00
“Indian Wine: exploring one of the world’s most exciting emerging wine regions”
India’s only Master of Wine, Sonal Holland, will showcase six wines from the portfolio of newly launched UK agent, Wines in India, in this Tasting Masterclass. Holland will explore India’s wine production, its unique terroirs, pioneering winemakers and breadth of styles.
Tuesday, 18 th May: 11h00 – 12h00
“Can wine be part of the circular economy?”
A discussion hosted by wine writer, Dr Jamie Goode on how the wine sector can – and should – embrace new formats to ensure future sustainability, organised by Sustainable Wine Solutions from Borough Wines. Panellists: Damien Barton Sartorius, Château Leoville-Barton; Muriel Chatal, Borough Wines; Greg Dunn, Plumpton College; Ania Smelskaya, Wine Sustainability Consultant.
Tuesday, 18 th May: 15h00 – 16h00
“Organic & Biodynamic tasting with Michel Chapoutier”
The Chapoutier family has been working towards biodynamic viticulture since 1991. Michel Chapoutier will host a tasting of six of his Rhône Valley wines, including the acclaimed 2018 Sicamor Crozes Hermitage, which illustrate his organic and biodynamic journey.
Wednesday, 19 th May: 11h00 – 12h00
“Finding and retaining talent”
Top recruitment experts and leaders in the drinks and hospitality industries discuss how to find and then retain the best talent across the sectors. Panellists: Luke Boase, Lucky Saint Brewery; Emma Forster, Drinks Recruitment at New Chapter; Rachel Webster WSET; and Martin Williams, Rogue Restaurants (Gaucho Group & M Restaurants).
And you can access the event here.


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MSC Cruises continues to be at the forefront when it comes to technology at sea. The cruise line announced plans to add artificial intelligence to one of their new cruise ships that will help improve the cruise experience.
This new voice enabled assistant is a first for the cruise industry. Some highlights of the virtual personal assistant will include:
- Feature a conversational, voice-enabled Artificial Intelligence (AI) innovation that can communicate, learn and intelligently predict your needs to make relevant suggestions.
- Provide guests with ta
The post Cruise Line Adding Artificial Intelligence to Improve the Cruise Experience appeared first on Cruise Fever.


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New 5G mobile is already 12 times faster than NBN
Telstra and Samsung will on Tuesday release Australia's first-ever phone on the new 5G technology – and already its download speeds are 12 times faster than the fastest widely available NBN plan.
The two companies showed off the new Galaxy S10 5G smartphone in Sydney on Monday, with an internet speed test hitting a peak of 1.2Gbps, or 1,200Mbps.
The NBN is theoretically capable of 1,000Mbps, but for most Australians the fastest broadband plan they can purchase is 100Mbps due to physical and commercial constraints.
This makes the latest mobile technology 12 times faster than typical NBN high-speed plan. A Telstra executive on Monday claimed that would later go up to 20 times (2Gbps) with software maturity.
Where can you use 5G?
Both Telstra and Optus are in the very early stages of rolling out 5G, so coverage is sparse. But if you're lucky enough to have 5G reception, your phone will have mind-blowing internet speeds.
"Its current footprint focuses on CBD locations and selected regional centres where more than 4 million people live, work or pass through every day," said Telstra consumer executive Kevin Teoh.
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"We have started rolling out 5G in 10 cities around Australia. Over the next 12 months or so we expect our 5G coverage to increase in area almost five-fold and reach into at least 35 Australian cities."
Samsung mobile vice president Garry McGregor said Australia is just the third country to receive its first 5G smartphone.
"There has been many years of research and development to get to this point – and today represents the next chapter for what mobile technology can offer to Australians."
How much does it cost?
Telstra customers who bought the Samsung Galaxy S10 Plus earlier this year are eligible to receive a free upgrade to the S10 5G, which actually has a larger screen, a better camera and a higher-capacity battery.
The new 5G technology, understandably, doesn't come cheap during these early stages. The Samsung Galaxy S10 5G 256GB on Telstra's XL consumer plan will cost $144 per month on a 24-month contract.
Telstra has also this week released a HTC 5G hub device, which allows a SIM card to provide wifi for 20 devices. Pricing for 5G for that device will be revealed next month.
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You’d think the owners of a startup basketball shoe company would be pretty bummed to hear that NBA pros were unable to wear their footwear. But Adam and Ryan Goldston, the twin founders of Athletic Propulsion Labs, were thrilled. That’s because, after the NBA announced in 2010 that, for the first time in its 64-year history, it was banning a shoe based on an “undue competitive advantage” rule, sales for APL’s Concept 1 shoe skyrocketed—and they haven’t stopped since. “It was the equivalent of $150 million in marketing, but it was absolutely free,” says Adam, now 28.
That first shoe was designed and prototyped in a USC dorm room by the Goldstons, then freshmen, who’d come to USC to play basketball as walk-ons (oh yeah, they made the football team, too). Lacking the competitive hops for hoops (they stand about 6′), the brothers were looking for an edge in the vertical department. “I was especially hyperfocused on jumping, because Ryan had a better shot than I did,” says Adam. “We did all the vertical-leap training, but nothing instantly makes you jump higher.” Five years later, the Concept 1 was ready for sale; and after clinical studies showed it to add one to three inches to a person’s leaping ability, the NBA ban provided an extra boost.
Last year, the Goldstons launched a line of running shoes; with them, APL’s compression-force technology helps people run faster by increasing gait speed. “The average guy is seeing a nine-second decrease in his mile time,” Ryan says.
But as busy as they are hustling for the company, there’s one thing the brothers won’t sacrifice: their own fitness. “We work out seven days a week, no matter what city, state, or country we’re in,” Adam says.


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July Housing Market Update
Calgary home prices reach new heights: July sees seventh consecutive monthly gain
Rising rates had little impact on sales this month as the 2,647 sales represented a year-over-year gain of 18 per cent, reflecting the strongest July levels reported on record. The record-setting pace has been driven mainly by significant gains in the relatively affordable apartment condominium sector. Despite recent gains, year-to-date sales have declined by 19 per cent over last year.
In line with seasonal expectations, sales and new listings trended down compared to last month. However, this had minimal impact on inventory levels, which remained near the July record low set in 2006. With a sales-to-new-listings ratio of 82 per cent and a months of supply of 1.3 months, conditions continue to favour the seller.
“Continued migration to the province, along with our relative affordability, has supported the stronger demand for housing despite higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, we continue to struggle with supply in the resale, new home and rental markets resulting in further upward pressure on home prices.”
In July, the unadjusted total residential benchmark price reached $567,700, marking the seventh consecutive monthly gain. Prices are now over four per cent higher than the previous peak in May of 2022.
HOUSING MARKET FACTS
With 1,197 sales and 1,587 new listings in July, inventory levels trended up over last month. However, with 1,720 units available, inventory levels are at the lowest ever reported for July. Inventory levels have declined across all properties priced below $1,000,000. Shifts in sales and inventory have caused the months of supply to trend up over the one month reported over the past several months. However, conditions remain relatively tight, and prices continued to rise this month.
In July, the unadjusted benchmark price rose to $690,500, a monthly gain of nearly one per cent and over seven per cent higher than last July. Both year-overyear and monthly price growth was strongest in the city's most affordable North East and East districts.
With only 248 new listings in July and 211 sales, the salesto-new-listings ratio once again pushed above 85 per cent. The pullback in new listings relative to sales ensured that inventory levels remained low, and the months of supply remained just over one month.
With no shift in the sellers’ market conditions, the unadjusted benchmark price continued to trend up in July, reaching $616,800. Monthly gains were strongest in the North East and East district as both rose by over two per cent compared to June. The only district that experienced stability in monthly prices was the City Centre.


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Office of the Attorney General
AG Conway Urges Regulation of Mandatory Arbitration Clauses in Contracts for Financial Services
The federal government should adopt rules that protect consumers from mandatory arbitration clauses in important contracts, Attorney General Jack Conway and his colleagues in 15 other states wrote in a letter sent this week to the U.S. Consumer Financial Protection Bureau.
The mandatory arbitration clauses are inserted by financial institutions into critical contracts for essential financial products, such as credit card, payday loan and checking account agreements. The language either has the effect of prohibiting the consumer from pursuing a claim against the financial institution in court or makes it prohibitively expensive by restricting the consumers’ rights to form a class-action lawsuit. Also, unlike court proceedings, arbitration matters are usually decided privately and the decisions are not publicized.
As the chief consumer protectors of their states, the Attorneys General asked CFPB Director Richard Cordray to protect consumers’ fundamental rights to assert their claims in court in their letter.
"The need for regulations to protect the public interest has never been so great," the Attorneys General wrote. "Over the past decade, judicial decisions and business practices have diminished consumers’ rights and bargaining power with respect to contracts for financial services."
The letter, which was organized by Attorney General Conway, Delaware Attorney General Beau Biden and Massachusetts Attorney General Martha Coakley, was sent to the CFPB as part of the agency’s research into mandatory arbitration clauses. The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act requires the agency to conduct extensive research before determining whether mandatory arbitration clauses are harmful to consumers before issuing any regulations.
Financial institutions tuck the arbitration into the fine print of contracts and consumers often are not even aware of what they are agreeing to. Financial institutions often make it mandatory that consumers agree to submit to the arbitration process before opening a checking account or issuing a credit card, so consumers often have no real way to negotiate or otherwise insist on protecting their rights.
"Mandatory pre-dispute arbitration is procedurally unfair to consumers, and jeopardizes one of the fundamental rights of Americans; the right to be heard and seek judicial redress for our claims," the Attorneys General wrote to Cordray, himself a former Ohio Attorney General. "These contractual requirements are neither voluntary nor readily understandable for most consumers. Often consumers do not recognize the significance of these provisions, if they are aware of them at all."
In addition to Kentucky, Delaware and Massachusetts, the following states also signed onto the letter: California, Connecticut, Hawaii, Illinois, Iowa, Maine, Maryland, New Mexico, New York, Oregon, Rhode Island, Vermont and Washington.
A copy of the letter is available here: http://tinyurl.com/qcgm3sf.
You can follow Attorney General Conway on Twitter @kyoag, visit the Attorney General’s Facebook page or view videos on our YouTube channel.