text:
The groups wrote:
“Many of these agreements were signed by the U.S. Department of Treasury several years ago. The protracted period of ratification could send a signal, inadvertently, to all U.S. tax treaty partners that the U.S. does not value the benefits of tax treaties and that the expansion, improvement and modernization of the U.S. bilateral tax treaty network is not a priority. Given the unilateral actions that many foreign governments are considering as a consequence of issues raised in the OECD Base Erosion and Profit Shifting process, this sends the wrong signal at the wrong time.
“For more than 80 years, income tax treaties have played a critical role in fostering U.S. bilateral trade and investment and protecting U.S. businesses, large and small, from double taxation of the income they earn from selling goods and services in foreign markets. Tax treaties do so primarily by reducing foreign withholding taxes and otherwise restricting the ability of the foreign treaty partner to tax the income of U.S. taxpayers. On a reciprocal basis, tax treaties reduce U.S. withholding taxes to encourage foreign companies to invest in the United States. …
“Tax treaties help the U.S. economy by allowing U.S. companies to more efficiently conduct their businesses abroad and by making the U.S. more hospitable to foreign investment, which creates and sustains millions of American jobs.”
For the full text of the letter, click here.
In addition to the NFTC, the letter was signed by Business Roundtable, Financial Executives International, the Information Technology Industry Council, the National Association of Manufacturers, the Organization for International Investment, the Software Finance & Tax Executives Council, the Trans-Atlantic Business Council, the U.S. Chamber of Commerce and the United States Council for International Business.
About the NFTC
Serving America’s Global Businesses Since 1914 – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.


text:
Tyson Foods Inc. is investing in Malayan Flour Mills Berhad (MFM), a Malaysian flour, grain and poultry company. Tyson is planning specifically to invest in the company’s vertically integrated poultry division.
Tyson is purchasing a 49 percent stake in MFM’s poultry division. According to Tyson executives, this investment is designed to increase “supply flexibility” for both companies. Tyson Foods operates one plant and one innovation in Malaysia.
“Once completed, the poultry deal will optimize our existing Malaysia business and expand MFM’s poultry business,” Tyson Foods international president Chris Langholz said in a statement. “This partnership will add more supply flexibility for both companies in serving halal-certified poultry to consumers and customers in the country and across priority export markets.”
Reuters reports that Malayan Flour Mills Berhad, which was established in 1961, manufactures and sells animal feeds, in addition to processing and selling poultry products, breeding and selling chicks and performing contract farming. The company also has a flour division, which oversees the company’s milling and flour and grain trading.
Both companies are looking to increase halal poultry production. Based on figures from the Halal Industry Development Corporation, the halal industry in Malaysia is expected to hit a market value of $147.4 billion.
“We are pleased to partner with Tyson Foods to expand MFM’s long-established poultry business,” Teh Wee Chye, managing director for MFM, said. “Tyson Foods is one of the world’s largest food production companies with a strong global manufacturing and distribution footprint. Malaysia is one of the key poultry markets in Southeast Asia, with a high per capita consumption of poultry. Together with Tyson Foods, we look forward to increasing our halal poultry product offerings in the country, especially in the further processed poultry segment, as well as exporting to demand markets with the help of Tyson Foods’ global network.”
Tyson’s investment in subject to approval by MFM shareholders.
Image courtesy of Malayan Flour Mills Berhad

domain: news


text:
The auction for a high school basketball jersey believed to have been worn by former United States president Barack Obama is nearing an end.
Bidding on the No. 23 Punahou High School jersey reached $62,500 on Friday evening with a little over a day left. Heritage Auctions, the company selling the jersey, said every detail of it matches the one Obama was photographed wearing on the 1979 Hawaii state championship team.
Punahou spokesman Robert Gelber told Jennifer Sinco Kelleher of The Associated Press that the school is "enormously proud" of Obama but can't confirm the jersey's authenticity.
"We simply cannot make comment on the authenticity of the jersey itself," he said. "It's not something we are able to do."
The final price will be announced Sunday.


text:
BT Retail today revealed the pricing for its new super>fast broadband service, BT Infinity. The new consumer service uses fibre optic technology to offer download speeds of up to 40Mb/s from as little as £19.99 per month, a saving BT says of £7.47 per month on Virgin Media’s XXL highest speed service. Upstream speeds, at up to 10Mb/s, will be the fastest in the UK.
BT says Infinity will transform consumer experience of the internet, benefiting all internet users. Households with multiple computers/internet devices will enjoy simultaneous use of services such as HD catch-up TV, social networking and the sharing of photos or films, amongst others.
The faster service will also benefit those who log-on for entertainment services, offering high-quality streaming of popular video content from iPlayer and YouTube and downloads up to seven times faster on iTunes. Online gaming will be up to 30 per cent faster, giving gamers a real advantage over the competition.
Gavin Patterson, chief executive officer, BT Retail, said: “The internet is essential to our customers’ lives and they are demanding more and more as richer and even more compelling services become available. BT Infinity gives customers the capacity and reliability they need in an instant and at a great value price they can afford. We want to give our customers the best possible online experience and are committed to rolling out super-fast speeds across the UK.”
Customers in Muswell Hill, Whitchurch and Glasgow Halfway have been enjoying the faster speeds through a BT trial. The service will be made available to 4 million homes and businesses by the end of December 2010, following the roll out of the technology by Openreach, BT’s local access division.
Today’s announcement is part of BT’s longer-term programme to make super>fast broadband available to at least 40 per cent of the UK, some 10 million homes and businesses, by the summer of 2012. The company has pledged to spend £1.5 billion, the UK’s biggest single commercial investment, in rolling out fibre to the cabinet (FTTC) and fibre to the premise (FTTP) services.
BT is also launching a new super>fast broadband service to business which will be known as BT Business Total Broadband Fibre.
From 25th January, new and existing BT Total Broadband and BT Business customers in an enabled exchange areas will automatically be eligible for the up to 40 Mb/s broadband service.


text:
Canned tuna was first produced in Australia in 1903, quickly ... Tuna is canned in
edible oils, in brine, in water, and in various sauces.
Mar 26, 2015 ... It's not the sexiest fish in the sea. But tuna—even once it's caught, frozen, thawed,
cooked, chopped and canned—still gets a nod of approval ...
Check out Bumble Bee's line of high quality tuna fish. Our canned and pouched
tunas come in both water and oil as well as in a variety of different flavors.
Aug 18, 2014 ... Long a staple of the American diet, canned tuna has fallen on hard times. Last
year, canned seafood sales, of which tuna is far and away the ...
Tuna can contain mercury, so parents must choose wisely when serving it to their
kids, and be aware that school lunches may have unsafe levels.
Jun 1, 2016 ... In 2015, the environmental watchdog Greenpeace released a buyer's guide for
canned tuna, ranking more than a dozen major brands based ...
We've ranked 14 well-known canned tuna brands. How does your can stack up?
Oct 14, 2015 ... If you're a 180-pound guy eating light tuna, you could safely eat 9.5 five-ounce
cans according to the CDC, or 3.2 five-ounce cans according to ...
Mar 2, 2016 ... Canned tuna is the ultimate convenience food. It's inexpensive, low in fat, packed
with protein and portable. With just a little effort, it can be ...
E veryone has a preferred flavor enhancer for a "mean" tuna salad—celery,
apples, relish, olives...the list goes on. But the key ingredient has got to be the


text:
- Musicians for the first weekend will be Smash Mouth (Feb. 13) and Gladys Knight (Feb. 14).
- Scotty McCreery will be performing Saturday, Feb.20 and Dennis DeYoung will be performing Sunday, Feb. 21.
- Musicians for the third weekend will be ALABAMA (Feb. 27) and Foreigner (Feb. 28).
- The musicians for the last weekend have been announced. The Steve Miller Band will perform March 5; Daughtry will perform March 6.
SeaWorld Orlando’s Bands, Brew & BBQ festival will begin this year on February 13 and run on weekends through March 6. The event is partnering with USO of Central Florida and military discounts will be available for active military and veterans.
Musical guests have not been announced for the event yet, but there will be concerts by rock and country artists, with craft beers and local Orlando barbecue available.
Several new sampler packages will be offered this year.
- BBQ Tasting Sampler – For $20, choose up to 5 menu items at any of the food locations.
- Craft Brew Sampler – For $30, sample 10 craft beers (more than 30 choices available)
- BBQ Tasting and Craft Brew Sampler – For $35, try 5 menu items and 5 craft brew samples.
The event is included in the price of park admission.
News source/photo credit: SeaWorld


text:
- Microstrategy is looking to hire a bitcoin software engineer to build a software-as-a-service (SaaS) platform on the Lightning Network.
Microstrategy, a top business intelligence firm that is the largest corporate holder of bitcoin (BTC), is looking to hire a software engineer to help build the Lightning Network-based enterprise platform.
Bitcoin software engineer to build SaaS platform
On Friday, the US-based technology company announced that it is looking for a person who will be tasked with developing a software-as-a-service (SaaS) platform.
According to the firm, the new platform will offer innovative solutions to address cyber security challenges for enterprises as well as enable new e-commerce use-cases.
,MicroStrategy engineers are working on some exciting new Lightning apps to help our enterprise customers secure networks, monetize websites, and deploy wallets using bitcoin.“Microstrategy’s Executive Chairman Michael Saylor tweetedThose willing to join the team are urged to apply for the post.
Among other qualifications, experience is required in developing software solutions that leverage the bitcoin blockchain and Lightning Network, or decentralized finance (DeFi) technologies.
Saylor stepped down from his role as Microstrategy’s CEO earlier last month to become executive chairman, revealing that he was making moves to focus more on the company’s bitcoin strategy.
Just this month, the company bought an additional 301 bitcoins to bring its total holdings to 130,000.


text:
From 12-year-old Saturday boy to British Master Barber
Twenty-five years ago, Michael Willis took on a Saturday job at his grandfather’s business, Wiggies Barber Shop. Now the 37-year-old owns the business and has earned a British Master Barber accolade.
Michael, who qualified to become a barber as soon as he turned 16, has inherited his love of the profession from his grandfather, James Wigmore.
“I remember my grandad coming home late in the evenings. He had this barber smell about him that I cannot forget,” he said. “When I smell that same smell on my own clothes it reminds me of him.”
James started running Wiggies in 1984 after taking over from his brother John, who established the business in 1982. In 2018, James retired and Michael took the helm at the Duckling Lane shop.
Michael has worked as a demonstrator with Denman International and appeared at numerous global hair shows, but is now focused on expanding his family business.
“I have channelled my energy to rebranding my business rather than jetting about,” he said.


text:
Sony is gearing up to compete with the likes of Spotify and Rdio on iOS devices, with a new report confirming the Japanese company will launch its Music Unlimited service on the iPhone, iPod touch, and iPad within the next few weeks. The music streaming service is already available on Android, PC, and PlayStation, and it seems iOS users have not been forgotten.
VentureBeat reports that Tim Schaaff, head of Sony Entertainment Network, announced the news within a “small CES gathering” earlier today:
The electronics company will offer a free iPhone and iPad app for Music Unlimited at some point this quarter, Tim Schaaff, head of Sony Entertainment Network said today at a small CES media gathering.
Additionally, the iOS app will offer offline caching for subscribers to Sony’s service, allowing users to save their playlists for listening when away from a network connection.
Sony says Music Unlimited will not directly target users who are already signed up to rival services, but will instead attempt to seduce those who are yet to adopt a music streaming service. It will also take advantage of its “major retail and international presence” to attract new customers.
Sony launched the Music Unlimited service just under a year ago, and it already boasts over one million active customers who can enjoy over 15 million different tracks. Its launch on iOS could boost those numbers, and provide Sony with an even better chance of competing with Apple’s iTunes music store.
However, it may not be entirely bad news for Apple. If Sony wants to give customers the opportunity to subscribe to Music Unlimited directly from within the iOS app, it’ll have to use Apple’s ecosystem and provide the Cupertino company with a 30% cut of the revenue. The only way around this would be to force customers into subscribing online.
Will you be looking forward to Music Unlimited on iOS?


text:
It seems every other day Tesla CEO Elon Musk has news about the next big project for the electric-car maker. This time, the news is about a project that seems relatively achievable, but one that produces as many questions as it answers. According to reports, Tesla is looking into starting its own streaming music service. DON'T MISS: Tesla driver killed in Autopilot crash ignored repeated warnings, NTSB says Recode reports the automaker has approached many major labels to discuss licensing music for an exclusive Tesla music streaming service. It could be viewed as a case of "anything you can...
2016 Chevrolet Cruze Teased Ahead Of June 24 Debut: UPDATE
The U.S.-spec 2016 Chevrolet Cruze will debut June 24.Stephen Edelstein


text:
Wii Mini Coming Exclusively To Canada On December 7th For $99.99
Starting on December 7th, exclusively in Canada, the Wii Mini will be released for $99.99. This stripped down version of the Wii will only be allowed to play Wii games, losing the ability to connect to the internet and play GameCube games.
The system will be a top-loader, come in a matte black colour with a red border, include a red Wii Remote and red Wii Nunchuk, and will work with most Wii accessories.
Nintendo also announced that the Wii is closing in on 100 million units sold worldwide and that if you register the Wii Mini on Club Nintendo, you’ll receive 100 coins.


text:
Switzerland-based luxury hotel The Chedi Andermatt will reportedly start accepting cryptocurrency payments from its guests for its services.
Located in Swiss Alps, the luxury hotel will allow its guests to make payment in both Bitcoin and Ethereum, reported BloombergQuint.
As part of this effort, the hotel has teamed up with Swiss crypto service provider Bitcoin Suisse and payment-service provider Worldline.
The cryptocurrency payment that will be received by the hotel will be immediately converted into Swiss francs once the transfer is confirmed.
Other cryptocurrencies would be considered by The Chedi Andermatt in future, according to the publication.
The Chedi Andermatt managing director Jean -Yves Blatt was quoted by Swiss media Blick quoted as saying: “We have long recognized that cryptocurrencies have a future in hotel operations as well.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“Faced with the increasing spread and acceptance of cryptocurrency payments, we are proud to be one of the first Swiss luxury hotels to be able to offer our customers cryptocurrencies as a secure payment method.”
Although the resort started looking into the cryptocurrency payment option about four years ago, it was seeking to ensure secure transactions and avoid price fluctuations, according to BloombergQuint.
Blatt was cited by the news agency as saying said: “We are making a clear statement to our hotel guests that we are open to new technologies and at the same time offer a new payment experience as an additional service.”
Founded in 2013, The Chedi Andermatt comprises 123 elegant rooms and suites, five restaurants and bars, a modern Health Club, spa area, among others.
Situated in the Urserntal in the heart of the Swiss Alps, the hotel’s dining options include Western and Asian cuisine at The Restaurant, The Japanese Restaurant, The Chalet (only open during the winter months), The Wine and Cigar Library, The Lobby, The Courtyard, The Pool and The Bar and Living Room.


text:
The name of Ravi Shankar, the Varanasi-born most known contemporary Indian musician, was cleared unanimously by a jury under the chairmanship of Prime Minister Manmohan Singh.
On the recommendation of the jury, the award has been renamed as 'Tagore Award for Cultural Harmony', Finance Minister Pranab Mukherjee said while announcing Ravi Shankar's name for the award.
The award would be presented by the President in a special ceremony, he said. Singh had last year announced establishment of the Tagore Award for promoting values of universal brotherhood.
The award comprises Rs one crore, a citation in a scroll, a plaque and an exquisite traditional handicraft or handloom item.
Photos: 'Godmen' who courted controversy
Photos: Kajol with mother, sister Tanishaa at Dadar Durga Puja pandal
Kareena Kapoor Khan snapped with baby Taimur at mom Babita's house
Photos: Amruta Fadnavis at a fashion and lifestyle exhibition
Photos: Sushmita Sen stuns in a black dress with thigh-high slit


text:
Inov8 – Official Release
Telenor Microfinance Bank’s mobile money platform, Easypaisa, and the Inov8 Limited, have signed a strategic agreement to offer Easypaisa’s vast distribution network to all commercial banks’, who are signed up with Inov8 technology. The agreement was signed by the President & CEO Telenor Microfinance Bank, Ali Riaz Chaudhry and Co-Founder and Co-CEO Inov8 Limited Bashir Sheikh, in presence of respective management teams.
Under the agreement, Telenor Microfinance Bank has licensed Inov8 Limited’s latest financial technology product, i8 ServiceBus (i8-SB), which will allow the mobile financial services provider to integrate with all Inov8 Limited deployments, offering their industry leading agent network for use by other banking players. The first bank has already been integrated as part of the implementation, with others to follow soon. Continue reading
Tags: digital banking players, MFS providers, payments solutions, contactless, airtime, mcommerce, Masterpass, products, bill payments, Pakistan, partner, world beyond cash, falcon, Telenor Microfinance Bank, digital, movie, banks, agent networks, Hasnain, company, entertainment, e-commerce, Commerce, customer, financial, Inov8 technology, use cases, Omni, shopping, payment models


text:
E-mail this story
Amazon offers 'Prime Pantry' grocery option
Amazon has been slowly infiltrating the grocery industry for several years, ramping up its efforts to compete by offering coupons, subscription services to moms, a same-day delivery service and competitive pricing on dry and paper goods.
By Nicole Paitsel
April 25, 2014


text:
Oyo Hotels & Homes is raising $1.5 billion from its founder Ritesh Agarwal and other investors led by SoftBank. The latest round of funding will spur the company's valuation more than $ 10 billion within a short span of 6 years since its inception.
Out of a total $1.5 billion, Agarwal's RA Hospitality Holdings will infuse around $700 million and the rest will be contributed by existing investors. The funds will be used to expand Oyo's business in the United States, its fastest-growing market and strengthen its vacation rentals business in Europe. Notably, the fundraising is the largest for an Indian unicorn since SoftBank invested $2.5 billion in Flipkart in 2017.
Agarwal, founder, and CEO (global), Oyo, said, "On a year-on-year basis, we have seen that not only are we operating profitably at the building level but at the same time our Ebitda (earnings before interest, tax, depreciation and amortisation) has also improved by 50 per cent. The losses as a percentage of NRV have also been on a steady and significant declining curve."
He further went on to add, "Our immediate goal is to make forward-looking investments so we can achieve our mission while delivering on our fiduciary responsibility to our investors by building a sustainable business."
As per a report in Business Standard, Aggarwal's latest round of fund infusion will be a part of the $2-billion plan to increase his ownership stake in the company by 3 times.Lightspeed Venture Partners and Sequoia are the fund houses that are selling their stakes in Oyo to allow Agarwal to increase his stake.
Last year in September, Oyo had raised more than $ 1 billion with participation from SoftBank, Lightspeed Venture Partners, Sequoia, and Greenoaks Capital, and new strategic partners like Airbnb.
In recent, Oyo is aggressively expanding its business globally with its footprints increasing from South-east Asia to Europe. Moreover, the company has also gone through major restructuring setting up several subsidiaries and bifurcating operations globally.
Agarwal has changed his position from executive director to a non-executive director in Oyo's India operation. The new role would be for one of the country's youngest to be the founder of a unicorn start-up to take up a more active role in the global operations of Oravel Stays Singapore.


text:
The 24th World Economic Forum (WEF) which is hosted in Nigeria, kicked off today in Abuja, the Federal Capital Territory. Nigeria plans to use this forum to showcase the potential business opportunities available in the country, with the aim of attracting investment in certain sectors of the economy.
According to the Minister of finance Dr Ngozi Okonjo-Iweala, Nigeria has huge investment opportunities in agriculture, manufacturing, with emphasis on consumer goods, in solid minerals as well as the entertainment industry, among others. In terms of solid minerals, Nigeria has more than 33 minerals in commercial quantities which are yet to be exploited.
This forum shall attract more than 13 heads of states and over 1,000 delegates to participate in the forum despite the perceived security challenges. Although, the president, has assured delegates of strict security measures put in place, to ensure a hitch free forum.
Dr Okonjo-Iweala also revealed that many companies that have shown interest in the opportunities in the country, will be attending the forum to discuss with the government. This interest in Nigerian economy has been motivated by positive macro-economic indicators, as well as government initiatives in agriculture, manufacturing, housing, solid minerals and other sectors.
Two foreign investors, UNILEVER and Bloomberg, have already declared their interest to invest 150 million dollars and 250 million dollars, respectively. Blumberg intends to make Nigeria a logistic hub for Africa.
Various investment initiative will be presented at the forum, such as the Grow Africa Initiative which is set up to fund agriculture in the continent. This initiative have been able to raise about N7 billion investments and about half of it will be coming to Nigeria and also the healthcare initiative designed to strengthen access to health care which many of it will be coming to Nigeria. Also, a skills initiative is being launched by WEF, which also aims to introduce a new initiative of Safe Schools being launched by the private sector in Nigeria. The safe schools initiative would target the North-East zone of the country and would be of great benefit to women and girls.
Dr Okonjo-Iweala further noted that Nigeria's economy constituted 76 per cent of the economy of Economic Community of West African States (ECOWAS). Apart from the ECOWAS economy, Nigeria holds 30 per cent of the economy in sub-Saharan Africa and 21 per cent of Africa's economy. Hence, it is meaningful that the economic forum on Africa is being held in Nigeria.
All things considered, this forum is expected to encourage economic development in Nigeria and Africa. In addition, create opportunity for local and foreign investors in the economy who will in invest in key sectors revealed during the forum.


text:
Thailand and Myanmar have vowed to stimulate tourism and raise the number of visitors between the neighbouring nations to 1.5 million by 2020 as part of the “two countries, one destination” cooperative scheme.
The Tourism Authority of Thailand (TAT) signed a memorandum of understanding last Friday with the Myanmar Tourism Federation to promote tourism between the countries.
Thai Deputy Prime Minister Somkid Jatusripitak said Myanmar boasts high potential for tourism because of its natural and cultural resources.
The TAT was ordered to study the possibility of launching joint marketing programmes with Myanmar and other countries such as Cambodia, Laos, and Vietnam, as well as the viability of code-sharing aviation routes, specifically for Phuket-Ranong-Myeik and Chiang Mai-Mandalay-Bagan.
In 2016, the number of travellers who visited both countries on the same trip totalled 490,000.


text: The Roy Morgan Holiday tracking survey revealed that nearly one in five Australians who took a holiday in the past year ditched the city for nature. In the 12 months to February 2015, over 2 million Australians ventured into national parks or forests for a getaway. This nature-loving 18% of Australians who took a holiday in the past year is a higher proportion than those who visited museums (15%), art galleries (11%) and bars/nightclubs (6%). National park adventurers prefer to experience very active holidays and holiday pursuits, including bushwalking, surfing, swimming, fishing, bike riding and other outdoor activities. With data collected from 50,000 Australians per annum, the Roy Morgan Holiday Tracking Survey shows that people who visit national parks or forests while on holiday tend to be more environmentally aware and energetic than the average Australian holiday-goer.


text:
Rents are skyrocketing from coast to coast. A recent report found that more than half of renters have increased in the past year.
You’re not the only one with rent going up. Despite new data showing the housing market appears to be slowing, rents are still high and skyrocketing across the country.
“I pay monthly. I never pay on time. I pay when I receive it,” says Chicago renter Earlean Braggs.
A recent survey by mortgage lender Freddie Mac found that while nearly 60% of renters experienced a rent increase in the past year, only 38% said their income had increased.
“Sometimes I get nervous too because I have to prioritize,” Braggs said.
Chief economist Darryl Fairweather said, “Rents are rising for the same reason that everything is getting more expensive. Loose monetary policy over the past two years has left more money in the economy. is flowing and it’s taking root.” with Redfin.
Meanwhile, a report released this week showed new home sales in July were down 12.6% from the previous month. That’s according to data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, which shows rising home prices and rising mortgage rates have led to a recent decline in sales.
“There aren’t enough houses in the country, so people are rushing to find open apartments. Apartment rents are rising and it’s really hard for those trying to make ends meet,” Fairweather said. said Mr.
Fairweather said there are some places where rent growth is starting to slow, including major cities like San Francisco.
“People are not going to accept this kind of rent increase from remote work. They will pack up and go elsewhere to make money,” he said.
Whole Foods lawsuit
Whole Foods is being sued over its beef marketing slogan, “No antibiotics used.”
Consumers and animal welfare groups have sued the chain, claiming that laboratory tests found the beef to contain residues of antibiotics and other pharmaceuticals. The company did not respond.
The tension of holiday delivery
Tensions between FedEx and its third-party contractors could delay holiday season deliveries.A group of contractors threatened to shut down operations just before Black Friday. Most FedEx packages are shipped by independent companies. As many as 30% of them have lost money due to rising fuel, truck and driver salaries.
Hiring Party City Temporary Workers
Summer is over and retailers are gearing up for the holiday season. Party City has announced plans to hire 20,000 temporary workers. This is 3,000 more than last year, and at least 10% of those jobs will be offered full-time positions.
#Rents #trending #cooling #real #estate #market


text:
Ubisoft has just revealed at the Ubisoft Forward showcase at E3 2021 that Rocksmith will be returning to teach a new range of players how to play guitar while gaming. Known as Rocksmith+, this new title will be a subscription-based service that will allow users to learn the string instrument at their own pace.
The system is set to be usable with only a mobile device as a speaker, which means that users can learn on both acoustic and electric guitars alike. The service is also set to feature a wide variety of genres and songs that will allow people to learn guitar unlike ever before.
The exact pricing for the service has not yet been revealed, but it has been noted that it will be coming this year, and will be usable with PC, consoles, and mobile devices. You can, however, sign up for the closed beta for Rocksmith+ on PC right now.


text:
First, thanks so much to my friend and Mexico City attorney Elias Lisbona Jassán of Perez Ferrer Abogados, who co-authored this piece with me.
To answer the question in the headline, I think the legal term is “sort of.” This topic, of course, is important not only for the 120 million folks living in Mexico but for all of us in the rest of North America. It also portends where things might be headed in the rest of this hemisphere, and increases pressure on US lawmakers and leaders to consider further action if Mexico were to join Canada with full adult-use legalization. In addition, it enhances the hope of many to create multilateral trade in cannabis once the US moves to legalize it.
How did we get here?
For those who have not focused much on the developments in Mexico, let’s review the timeline in order.
• Cannabis became illegal in Mexico in 1920. Interestingly, for just four months in 1940, cannabis became “legal,” when then-President Lázaro Cárdenas enacted regulations to focus more on addiction than treating use as a crime. Mexicans could then go to a pharmacy and purchase what they needed for their “addiction,” and be protected as to the quality of the product without fear of prosecution. This was abandoned after pressure from the U.S. It took over 60 years to decriminalize personal possession of small amounts in 2009 for possession of up to five grams.
• In June 2017, medical marijuana with THC content of less than 0.1% became legal in Mexico. Patients can obtain products in pharmacies with a medical prescription. Permits for labs to produce medical cannabis are issued by COFEPRIS or the Federal Commission for the Protection Against Health Risks. It took until January 12, 2021 for President López Obrador to publish regulations to implement this program, and now Mexican people have legal access to their medicine. But there is very limited product supply available currently. The Ministry of Health oversees the medical marijuana program.
• In October 2018, the Mexico Supreme Court declared the illegality of cannabis unconstitutional, and they ordered the legislature (the Congress) to legalize the possession and home cultivation of THC products for adult use. In responding, the Congress sought to go further and intended to legalize the whole chain of production, including legalizing the industrial use of hemp and adult-use licenses for cultivators, distributors, and retailers, along with home grow.
• The Congress came close but missed four Court-set deadlines to complete the legalization, with various excuses including the pandemic. The most recent deadline was April 30, 2021. There was talk of a special session to be convened after the June elections.
• On June 10, 2021, the Supreme Court ran out of patience, and on its own, in part due to the legal procedure that they followed, said adult use of marijuana is officially decriminalized. More on this below.
Unlike in the US, where a strong majority of Americans of both political parties favor adult-use legalization, in Mexico, that percentage is more like 33%. This number has increased over the years, especially following the loss of so many lives in the war on drugs. The strong Catholic population in Mexico, however, may explain the reticence to support legalization, since church leaders have not supported this effort. That said, many see tremendous economic opportunity in legalizing cannabis in Mexico, suggesting it would be the largest legal marijuana market in the world.
What does the latest Mexico Supreme Court decision change?
Last month, the Supreme Court issued a “General Declaration of Unconstitutionality” by an 8-3 vote. The Court has stated that making cannabis illegal violates the country’s human right of “Free Development of Personality” included in the Mexican constitution. This right is used to defend homosexual and transgender rights, people with disabilities, and consumers of illegal drugs. As a result of the decision, it is now “automatically” legal for Mexicans to home grow, possess and consume cannabis with THC without specific limits, so long as you receive a permit from COFEPRIS (many people in Mexico object to this requirement due to privacy concerns). On the other hand, commercial production and sale remain illegal.
But there is one wrinkle. Obtaining seeds for that home grow is still technically illegal. To deal with this, the Court urged Congress to reform an article of the General Health Law (Article 235) to allow the harvest of cannabis for home cultivation. It is expected this change will occur. The Court also ordered COFEPRIS to advise citizens how to acquire seeds legally. Strangely, CBD remains banned. This decision relates only to cannabis with THC.
Mexican President López Obrador this week said he respects the court’s ruling but floated the idea of a voter referendum on the issue. He acknowledged that there are multiple views on legalization, including within his own Cabinet. He confirmed, however, that he will instruct COFEPRIS to comply with the ruling. One also assumes the Congress still will try to pass full adult use legalization.
Where do we go from here and what implications are there for US producers?
Multiple US and Canadian cannabis companies have been exploring potential business opportunities south of the border. Drug trafficking and violence remain rampant in Mexico. Estimates are that 350,000 people have been murdered in Mexico since 2006 in the drug war, and the Mexican army has been the primary enforcer where significant corruption is reported. The hope, of course, is that a legal market for cannabis will strike a significant blow against the cartels and illicit markets that have dominated so much of Mexican society and its economy. The concern is that the latest decision does not go far enough to ensure that a strong, regulated and protected legal market can indeed develop in the United Mexican States (as the country is officially denoted).
We also are concerned that the latest decision will generate significant confusion, especially for law enforcement agencies in the various Mexican states. What is legal and what is not? Will they go after folks for producing CBD even though THC possession is now legal? Will Congress finally act? Will there be a referendum?
For the time being, it appears that the development of commercial production and sale of adult-use cannabis remains aspirational for those seeking to enter this potentially very lucrative market. And when that does occur, will appropriate protections against facing government corruption or attempts by criminal elements to sabotage the new industry be in place? Some American companies that have attempted to develop grow facilities in other southern regions such as Colombia have faced significant challenges regarding crime and corruption, despite the strong attractiveness of these markets in terms of weather, availability of land, and labor costs.
It is true that illegal exportation of Mexican cannabis been reduced steadily in recent years, and this has helped to adjust the market culture with the move towards legality. Mexicans hope that full legalization can help reduce the violence and bet for a regulated and globally competitive market where the best companies can compete. As we say, watch this space!


text:
Govt reacts to small business group recommendations
The Government has responded to the recommendations outlined in the latest Small Business Development Group report released last week.
The report comes from the Small Business Development Group, a ministerial-appointed panel of small business owners who advise the government about how policies affect small business.
In New Zealand, small enterprises are made up of up to 20 employees. According to the latest data from Statistics New Zealand, they account for 97% (487,602) of all enterprises, 29% (599,880) of all employees, and an estimated 26% of New Zealand’s Gross Domestic Product.
The 2015 Small Business Development Group report recommends:
• Improving how government communicates with business owners
• Helping businesses better understand changes in legislation
• Simplifying the tax system for small businesses
• Ensuring small businesses have the infrastructure and tools to keep pace with technology.
Small Business Minister Craig Foss says the responses outline how the Government is creating an environment that makes it easier for small businesses to succeed.
“I welcome the report from the Small Business Development Group and thank the members for their work and expert advice,” says Foss.
“The Government has a range of initiatives underway that align with these recommendations. For example, changes being made to the tax system as part of Budget 2016 will remove a significant source of stress for small enterprises,” he explains.
“This Government continuously works to improve the economic and regulatory environment so that small businesses can grow and thrive,” Foss Adds.


text:
Interview: Dzulkifli Mahmud
How is Malaysia looking to enhance and expand its trade relationship with China?
DZULKIFLI MAHMUD: China is a very important market. It is Malaysia’s largest trading partner for the eighth consecutive year, with trade expanding by 11.1% to RM230.89bn ($57.2bn) in 2015 and accounting for a 15.8% share of Malaysia’s total trade. Our strategy to increase trade with China includes reaching out not just to first-tier cities, but also now to second- and third-tier cities. We’re also encouraging Malaysian companies to expand their business to China, especially using e-commerce. E-marketplaces are highly visible in China, and Malaysian companies need to start taking advantage of these avenues to increase their sales. It’s also an excellent method by which small and medium-sized enterprises (SMEs) can grow their business at a far lower cost, while also receiving consumer feedback. In April 2015, Prime Minister Najib Razak launched the Bank of China, Malaysia as the Renminbi Offshore Clearing Bank for Malaysia and the ASEAN region. This new clearing bank is expected to further enhance bilateral trade and investment between Malaysia and China. It will reduce liquidity risk, encourage the growth of premium financial services in both countries, and further promote closer ties between China and Malaysia.
To what extent do you see recent and impending trade agreements affecting Malaysian exports?
MAHMUD: Most recently the Malaysia-Turkey free trade agreement (FTA) came into force in August 2015. Following its implementation, bilateral trade has increased by double digits, having a real and immediate impact, and in 2015 exports to Turkey surged by 54.5%. Looking to the Trans-Pacific Partnership, the only signatories that we don’t already have FTAs with are Canada, the US, Mexico and Peru. When implemented, our products will no longer be subject to tariffs of 6-15% in the US and Canadian markets. The export industries that will reap the benefits include electronics, rubber products and textiles. MATRADE is now preparing a roadmap for SMEs to ensure they can take advantage of the agreement, and prepare them for the opportunities and the challenges that come with expanded markets. We are also very excited about the planned Regional Comprehensive Economic Partnership (RCEP), led by China, and encompassing the ASEAN states, in addition to South Korea, Japan, India, Australia and New Zealand. Based on current data, RCEP will span a united market of more than 3bn people, with a combined GDP of more than $17trn and over 40% of world trade.
Which under-penetrated markets is MATRADE targeting for greater export expansion?
MAHMUD: MATRADE’s programme is very focused on growing our exports to traditional markets. As an example, Thailand is Malaysia’s fifth-largest trading partner globally and second-largest within ASEAN. Four of our states border Thailand – Kedah, Perlis, Kelantan and Perak – with the south of Thailand also requiring a facility to export its goods. Penang is well placed to fill that niche, which will lead to increased interdependence. But at the same time, we also see the immense business opportunities and high potential of emerging markets. For example, Africa currently accounts for only 2.1% of our total trade, and 2.6% of exports, and we are working to expand this significantly. We see an opportunity for Malaysian companies, particularly in the sectors of construction and Islamic finance. Similarly, there are still untapped opportunities in the other regional markets.
Exports to West Asia comprised only a 3.3% share of total exports, Latin America 1.8%, and Central Asia 0.1%. Malaysian companies are also uniquely positioned in the fields of consultancy and market development for other countries’ halal sectors, which are also growing. Japan is helping us expand this segment.
You have reached the limit of premium articles you can view for free.
Choose from the options below to purchase print or digital editions of our Reports. You can also purchase a website subscription giving you unlimited access to all of our Reports online for 12 months.
If you have already purchased this Report or have a website subscription, please login to continue.


text:
Mexico-built Chevy Blazer removed from Comerica Park display to avoid 'distractions'
Detroit — General Motors removed its Chevrolet Blazer from its display Saturday at Comerica Park following online controversy, officials said.
The Chevrolet Blazer and the Chevrolet Silverado were installed at the Tigers' ballpark fountain briefly this week until controversy arose that the car wasn't American-made, GM officials said.
GM spokesman Jim Cain said WXYZ (Channel 7) published an online poll asking if viewers stood with the Chevy Blazer being placed on display despite being built in Mexico.
Cain defended the Detroit automaker's choice saying “American workers contribute more to the Chevy Blazer than anyone else," but said it was an easy decision to remove the vehicle.
“We want people to enjoy baseball without distractions, so we have replaced the Chevrolet Blazer with a Chevrolet Traverse at the Comerica Park fountain," Cain said.
He said the negative attention took away from the company's mission.
"American workers contribute significantly to the success of the Chevrolet Blazer," he said. "The Blazer will pump more than half a billion dollars into the U.S. manufacturing economy each year, helping support thousands of good-paying U.S. jobs."
The 2019 Blazer, a two-row crossover, is being made at GM's plant in Ramos, Mexico.
Last June, a GM spokeswoman said that when the decision was made on where to manufacture the Blazer, the facilities in the U.S. capable of building a midsize SUV were running three shifts and were at full capacity.
The United Auto Workers were distraught by the decision to manufacture in Mexico saying it was "disappointing to UAW families and communities across the country."
UAW spokesman Brian Rothenberg said they were notified by GM Saturday after the removal and had no further comment.
The Tigers deferred comment to GM.


text:
It’s Open Season at Chanel boutiques in South Korea! Shoppers are lining up in front of stores for hours on end (sometimes even camping out the night before) to be able to have first dibs on the bags, clothes and shoes that tickle their fancy. You wouldn’t think that, in a time where things like food, jobs and vaccines are on the top of peoples’ minds, that luxury handbags would also be a top priority for consumers- and yet here we are.
Yes, in fact, the pandemic has seen a surge in demand for luxury goods- an insatiable one at that. Our lust and desire for that new season Chanel Classic Flap or an Hermès Birkin has reached new heights- so much so that the biggest luxury conglomerate in the world, LVMH, as well as family owned Hermès, reported their best quarterly figures yet (you’re welcome messieurs Dumas et Arnault)! But why are people going gaga for Chanel specifically?
By this point, we’ve all heard about Chanel’s frequent price increases. Gone are the days of it occurring once a year, to the point where multiple are happening months apart from each other within the same year! The brand’s most recent increase resulted in a standard issue Classic Flap equaling the price of a Birkin 25! With prices going up and up, you’d think that consumers would reign in their shopping sprees at Chanel, but, rather, the opposite has happened- they’re buying more than ever.
In South Korea, luxury consumers are buying whatever they can, as much as they can, not necessarily because their pocketbooks permit it, but rather in an attempt to evade the next price increase! In essence, the shopper’s mentality has shifted whereby, as prices continue to go up and up, it’s worth it to get in now before a high price gets even higher. Beating the next price increase has now become top priority for these consumers. “The current price tag is going to be the cheapest you’ll ever see,” Cho Eunbit, a shopper from Seoul, says- she’s not entirely wrong there…
You’ll recall that South Korea was even one of the first markets where Chanel introduced their new quota system, whereby consumers are now able to buy only one classic item per year. On top of the aforementioned price increases, this sent demand into overdrive (a bit counterintuitive as one of the reasons for implementing a quota system was to quell this level of frenzied demand).
It seems as though Chanel has killed impulse buying, and has, instead, introduced a new state of panic buying. Showing no signs of easing up on price increases, shoppers are looking to grab their favourites now before they become that much more unattainable. In light of this, will you be lining up at your local boutique in the wee hours of the morning? Or have you had enough of this hot luxury market? Is the thought of another price increase reason enough to buy that Classic Flap now? Or, at the end of the day, do you not really care and will buy the bag of your dreams regardless?…
LVMH Rocks 2021 With Sky High Profits from Louis Vuitton and Dior
Hermès Denies ‘Peihuo’ Claims, Opens New Production Facility
Image Credit: The Glamary, Yonhap, SeongJoon Cho/Bloomberg
- Shirin posted 1 year ago
- last edited 1 year ago
Please login first to submit.


text:
All food destroyed after meat case sparks fire at Holly Hill Winn-Dixie
Store expected to be closed for extended period of time
HOLLY HILL, Fla. – A Winn-Dixie grocery store in Holly Hill is expected to be closed for a while after a meat case sparked a fire, damaging food products throughout the store, according to fire officials.
Holly Hill Fire Department officials said the fire was believed to have started at the store on Nova Road around 5:18 a.m. Friday from an electrical issue in the meat case that held packaged chicken.
The fire set off two sprinklers that were able to put out most of the flames, but the building was still filled with smoke, which significantly damaged food products throughout the entire store, officials said.
The Fire Department said the food items are expected to be deemed a total loss and that the store will likely be closed for an extended period of time.
No one was inside the building at the time, officials said.
Officials with Southeastern Grocers LLC said they're working with the Fire Department to determine the extent of the damage and how much repairs could cost.
It was not immediately clear what will happen to employees while the store is closed.
No other details were available.
This is a developing story. Stay with News 6 and ClickOrlando.com for updates.
Copyright 2019 by WKMG ClickOrlando - All rights reserved.


text:
Textmunication first introduced its automated messaging platform last year. Now, the company has introduced a suite of new APIs that evolves the company into a complete CPaaS provider. With a continued focus on health clubs, Textmunication continues to add communication features to its platform.
Magisto, video editing platform, has announced that its video editing tools are now publicly available via the Magisto API. Until now, Magisto has focused on consumers with the aim to transform the billions of home videos collecting dust into professionally edited, production ready films.
There is a category of vendors on the rise in the API space; Integration Platform as a Service (iPaaS). The term is fairly new and there is some debate as to the definition and features of vendors that would be classified in the iPaaS category. This post is an overview of iPaaS and features several vendors that offer iPaaS solutions.


text:
What’s better than a new Mercedes-AMG hybrid? A special edition designed by Roger Federer, perhaps.
The 20-time Grand Slam champion has joined forces with the three-pointed star’s high-performance division to create a one-off version of the new GT 63 S E Performance. The custom ride will be auctioned off without reserve via RM Sotheby’s on Saturday, November 26, with all proceeds going toward a charitable public tennis project in London.
The recently retired Swiss maestro picked one hell of a Merc as a starting point. The four-door coupé, which is the first in a series of E Performance plug-ins, represents AMG’s most powerful road car to date. The hybrid packs a twin-turbocharged 4.0-liter V-8 and a 150 kW electric motor that can collectively produce 831 hp and 1,082 ft lbs of torque.
That power is delivered to each wheel via a nine-speed automatic transmission and AMG’s 4Matic+ all-wheel-drive system. The team at Stuttgart says the four-wheeler can rocket from zero to 62 mph in 2.9 seconds and from zero to 124 mph in less than 10 seconds. It’s about as quick as Federer’s fastest-recorded serve of 143 mph.
This particular model was designed to honor Federer’s prolific tennis career that spanned no less than 24 years. To that end, the four-wheeler is finished in a bespoke neon-yellow paint called “Electric Beam” that looks rather similar to the color of a tennis ball. In addition, the car is adorned with Federer’s personal signet. As it has never registered for the road, the example is also presented in pristine condition.
As for price, RM Sotheby’s expects Federer’s creation to sell for between $200,000 and $250,000. The standard GT 63 S E Performance Hybrid is currently available in Europe for about $221,000 (€196,897) and is expected to arrive at US dealerships later this year.
“Representing the new era of electrified AMG performance, the successful bidder of this lot will be assured of a sensational driving experience, further to buying a piece of tennis history,” the auction house said in a statement.
Did we mention the car’s almost as fast as Federer’s serve?
Click here to see all the photos of Federer’s Mercedes-AMG.


text:
Japanese online brokerage Monex Group Inc. said Friday it has agreed to purchase all outstanding shares in troubled cryptocurrency exchange Coincheck Inc. for 3.6 billion yen ($33.6 million).
The move would give Coincheck the financial backing necessary to rebuild after losing 58 billion yen of customers’ digital assets in a hacking attack earlier this year, while allowing Monex to gain a foothold in the cryptocurrency business.
“Coincheck is a global leader in cryptocurrency. We aim to fuse Monex’s financial know-how and Coincheck’s innovative philosophy,” Monex CEO Oki Matsumoto told a press conference in Tokyo.
Monex will acquire 45.2 percent of shares from Coincheck founder and CEO Koichiro Wada, 5.5 percent from board member Yusuke Otsuka, and the remaining 49.3 percent from six other shareholders on April 16.
Coincheck will become a wholly-owned subsidiary, with Monex Senior Executive Officer Toshihiko Katsuya leading its turnaround as CEO. Wada and Otsuka will step down to lower-level executive roles.
The breach in January, in which hackers targeted an unsecure digital “wallet” holding the cryptocurrency NEM, was the biggest ever heist of its kind. Coincheck last month reimbursed 46.6 billion yen in the Japanese currency to some 260,000 customers affected, dealing a hit to its finances.
The incident fanned concerns over the security measures in place to protect digital assets, with Japan’s Financial Services Agency cracking down on cryptocurrency exchanges. The FSA slapped Coincheck with warnings to improve its business and launched a probe of other exchanges in the country.
Matsumoto said Coincheck, which is one of more than a dozen exchanges currently seeking government approval to do business, hopes to register in about two months and resume services halted following the hack, such as trading of certain types of cryptocurrency.
Monex had considered registering itself in order to enter the cryptocurrency business, but decided instead to acquire Coincheck.
Read more at:


text:
Bitcoin is a decentralized digital currency that uses cryptography to secure transactions. ... Blockchain technology and users' constant review of the system have made it difficult to hack bitcoins. Hackers can steal bitcoins by gaining access to bitcoin owners' digital wallets.
Follow this link for full answer
One way or the other, who made the most money from Bitcoin?
5 of the World's Top Bitcoin Millionaires
- Barry Silbert.
- Blythe Masters.
- Dan Morehead.
- Tyler and Cameron Winklevoss.
- Michael Novogratz.
Anywho, is Bitcoin still alive? Unfortunately for all of those naysayers, Bitcoin is still alive, kicking and stronger than ever as it approaches its third halving event. According to the Bitcoin Obituary page, Bitcoin has been proclaimed dead 380 times since it came into existence in 2008. The first of these was on Dec.
From everywhere, who is the real creator of Bitcoin?
Who claimed to be Satoshi Nakamoto?
3 Related Questions Answered
Possible reasons for Nakamoto's anonymity Nakamoto appears to have had the foresight to know that if Bitcoin was to succeed as a decentralized currency, it would need to grow organically, with no leader or figurehead.
Satoshi is a billionaire. In mid 2020 prices, Satoshi's net worth is around 8.8 billion dollars. At its all time high on December 18 2017, when 1 BTC peaked at 19,498.63 USD, Satoshi's bitcoin was worth around 20 billion dollars. This made Satoshi the 56th richest person in the world.
Septem UTC: 12:18 PM. Arthur Hayes, the CEO of BitMEX, the most widely utilized BTC margin trading platform, has opined Satoshi Nakamoto
, the creator of bitcoin, is likely dead
. ... Satoshi
is said to have 980,000 BTC, worth $9.716 billion based on the current value of bitcoin


text:
The Wall Street Journal published an article titled, "As Competition for Franchisees Heats Up, so Do Incentives ", and it brings to light how the franchise market is getting crowded.
It talks about first -time buyer incentives and how experts don't see these incentives going away anytime soon. This article like others is encouraging us to take action on our dreams and plans to be entrepreneurs. If joining a franchise is not for you - that is okay. To start your own business you must begin to market your specialized skill set to the world and social media because in not doing so, you are the only one who knows about it!
The full Wall Street Journal article can be found here, http://on.wsj.com/1mNy4yx.
Step out of your comfort zone and begin something new."
My mission is to offer the best accounting and operations solutions and tips for entrepreneurs and small to mid-size companies worldwide seeking to close their process gaps with actual solutions.


text:
It’s official – Facebook will run cryptocurrency ads on the platform again. This follows the devastating news of a few months ago that the social media giant is banning all cryptocurrency ads.
Is this for real?
Yes, this is real. Facebook Business released a statement saying that they have refined their policy on cryptocurrency ads in the past few months. To such an extent that from 26 June, they will allow cryptocurrency ads on their platform. The specifics are as follow: Facebook will allow ads that serve to promote cryptocurrencies but advertisers must be pre-approved.
However, no Initial Coin Offering (ICO) ads will be permitted on Facebook, neither those that “promote binary options”. They wish to ensure that these ads are safe. In the same vein, cryptocurrency businesses like exchanges and other related services may not advertise with them.
Why did Facebook ban cryptocurrency ads in the first place?
Facebook’s announcement that they would be revising their ads policy for cryptocurrencies followed shortly after the same announcement was made by Twitter. This was in January 2018. The markets reacted to these announcements and prices went down for a while.
The reason for the ban was due to ICO scams doing the round and Facebook wanted to protect users. The crypto community did not take the news well and reacted on social media. Even governments reacted to the news. Countries like Asia and Russia filed lawsuits against Facebook.
What about Facebook’s own cryptocurrency?
During the same time as the announcement of the ban, Facebook also announced it would be looking into developing its own blockchain. It could serve as a ‘fix’ for the platform thanks to its decentralized features. Since then, no new news has been released about this blockchain.
In other news
The US Department of Justice has seized more than $20 million worth of Bitcoin during a heist. The raid of Darknet market sites saw the government agency seize the said amount of Bitcoin as well as illicit goods such as weapons, narcotics and also mining devices.
The price of Bitcoin is at $6,100.32 according to Coinmarketcap.
Don’t forget to hit the like button of Bitmart’s Facebook page for the latest news and updates in the crypto industry. Click here.


text:
Wisconsin favorites: beer, milk and cheese
LoCo WisCo to open its doors in May, offering products emblematic of Northeast Wisconsin
By Rachel Sankey
Dena Mooney, proprietor of LoCo WisCo, said when she travels with her family, it’s customary for them to stop at a souvenir shop on their way home to pick up some type of keepsake.
“My husband is a big souvenir junkie,” Mooney said. “He is always trying to find a place where he can get some type of little souvenir.”
Mooney said she recently realized Green Bay didn’t have a souvenir shop that encompassed the city and all its quirks for travelers to pick up their own memento commemorating their time in Titletown.
“I mean, a lot of people go to Lambeau Field,” she said. “There’s the Packer Pro Shop, but what we’re looking for is a lot different than that, because you can buy that anywhere.”
On the right path
Mooney said she knew she wanted to use the money she received from her late grandfather toward opening her own business. To help her achieve that dream, Mooney said she enrolled in the E-Seed program at Fox Valley Technical College to learn more about business, as she prepared to open LoCo WisCo.
“I took the class, and every week I became more passionate about the store,” she said. “Every week the thought of the business became more of a part of me, I became more protective of it.”
Soon after, the Main Street Bounceback grant became available, which she said further confirmed that she was making the right decision in opening her own business.
As Mooney’s classes progressed, so did LoCo WisCo, which she said stands for “A local collective of artists, makers, and producers who are crazy about Wisconsin.”
Mooney said she wants LoCo WisCo to have a fun, small-town, tavern-like atmosphere – highlighted by the shop’s logo, which resembles vintage beer cans from the 1950-60s.
She said the store will have several different bar counters, including one made out of a tractor hood, and a pool table.
Staying true to its Wisconsin roots, Mooney said the shop will have a turntable playing polka music.
Part of LoCo WisCo’s theme, Mooney said, is inspired by her grandparents, with one of the vintage bars belonging to them.
The shop will carry local beer, wine, cheese and other edible goods, as well as a Wisconsin staple – milk, which Mooney said they will potentially offer free to customers as they enter the shop.
“It’s supposed to be authentic to who we are in Northeast Wisconsin,” she said. “Or even just Wisconsin in general. We’re really trying to play up that bar feel. This (LoCo WisCo) is all about fun and being playful. We want people to have a good time.”
Handcrafted art and other products from local artists will also be available in the shop. Mooney said she is looking for more artists to sell their work in LoCo WisCo.
“We’re looking for items that are really inspired by Wisconsin or that tell Wisconsin’s story,” she said. “So something that relates to Wisconsin’s sense of place, our culture, our history, our natural environment or even things that play off of other items that we carry.”
Mooney said artists can reach out to her via LoCo WisCo’s Facebook page or via email at firstname.lastname@example.org.
She said those who contract with LoCo WisCo before the store opens, will receive an extra discount for the first 90 days and receive 70% of the profit, whereas it’s normally 60/40. Mooney also said there is no fee for artists to “rent” a spot in the shop.
“I’ll still take (artists’) items once we open,” she said. “I’m just really trying to say thank you to those people that are willing to go down this crazy journey with me at the very beginning.”
As it gets closer to LoCo WisCo’s opening date, which is set for sometime in May, Mooney said she is gaining more confidence in her new business.
“It’s so important as a business owner that you really believe in your business, because if you don’t, you’re not going to be successful,” she said. “Every time we spend in this space we really become even more excited.”
Rachel Sankey is the associate editor of Green Bay City Pages. She can be reached via email at email@example.com.


text:
January 16, 2020
WASHINGTON, D.C. — Today, U.S. Senator John Barrasso (R-Wyo.) issued the following statement after the Senate passed the United States-Mexico-Canada Agreement (USMCA).
“President Trump ran on a promise to put America first with respect to our trade policy. Today we made good on that promise when the Senate passed a modernized trade agreement with Canada and Mexico. Twelve million American jobs depend on trade with our North American neighbors. The United States–Mexico–Canada Agreement (USMCA) protects those jobs by ensuring American businesses, farmers and ranchers have access to Canadian and Mexican markets for years to come.
“The USMCA isn’t the only important trade deal in the books. Since taking office, President Trump implemented new deals with South Korea and Japan. He also forced China to the negotiating table and signed an important deal to open Chinese markets to a variety of American products, including Wyoming beef and energy exports. Together these trade deals will strengthen our growing economy, protect American jobs, and build on the president’s successful work to refocus and modernize U.S. trade policy.”


text:
Smaller cranberry harvest expected in Wisconsin
Wisconsin's cranberry harvest is expected to be down some from last year, although there's still expected to be a significant oversupply of the state's No. 1 fruit crop.
The harvest will yield 4.5 million barrels of cranberries this fall, the U.S. Department of Agriculture estimates, a decrease of 10% from a record-high harvest in 2013.
This year's crop is more typical, the Wisconsin State Cranberry Growers Association said.
Despite the lower yield, it follows a number of years when Wisconsin had very successful cranberry crops, Tom Lochner, executive director of the association, said in a statement.
Cranberries are Wisconsin's No. 1 fruit crop in value and acreage. The industry provides about $300 million to the state's economy each year and supports about 3,400 jobs, according to the state Department of Agriculture, Trade and Consumer Protection.
Chinese food buyers are scheduled to tour the cranberry growing region Aug. 26-28.
"Overseas markets for cranberries have been growing, but last year the growth was less than the industry was hoping for," Lochner said.
While the crop total is down, this year's harvest is still expected to result in an oversupply of cranberries, prompting a continued focus on market expansion and potential USDA remedies, the Wisconsin Cranberry Growers Association noted.
Recent national business updates from the Associated Press


text:
Stuff every higher ed marketer ought to know about:
- The American Marketing Association has issued its call for papers for the 2010 Symposium for the Marketing of Higher Education. This year’s symposium will be held Nov. 7-10 in San Diego. The AMA is looking for “proposals/papers that report on new and innovative strategies and tactics in higher education marketing. Popular topics include including image and brand building, buzz/viral marketing, marketing research, internal marketing, electronic marketing, new marketing channels, social media, Web 2.0 tools, emerging markets and trends, marketing organizational structure, marketing budgeting, web metrics, and marketing ROI.” Submissions are due April 9, and this year the AMA is even welcoming video submissions. (Hear that, Todd Sanders?)
- What do social media users want? According to research from online ad network Chikita (and as reported by Mashable), “Twitterers mostly consume news, MySpace users want games and entertainment, Facebookers are into both news and community and Digg’s audience has a mixed bag of interests.” Also, MySpacers “have no interest in news whatsoever.” (Hear that, news mogul Rupert Murdoch?)
- Virtual graffiti. No, that isn’t the name of a Led Zeppelin remix. It’s what’s happening, right now, on college campuses everywhere, thanks to mobile mapping apps like Foursquare. “Since Foursquare’s debut last year,” writes the New York Times’ Marc Parry, “students have diligently labeled, praised, and, in some cases, profaned college campuses. Take this note, easily Googled, that somebody calling himself Mock Redneck Jr. left at the University of North Carolina at Charlotte: The library has Free Wi-Fi, Barely Legal girls and a warm place to drop a deuce.'” Drop a what? (Via Mark Greenfield’s Delicious links.)
- The state of campus CMS. Good research results from a survey of content management systems as compiled by .eduguru’s Michael Fienen. Lots of data to sift through here.
- From the it-had-to-happen-eventually department: RandomDorm: ChatRoulette for the College Set, via @davewiner.


text:
3 Ways to Go Plastic-Free This July While Staying Safe From Coronavirus
Last year, the month boasted around 250 million participants in 177 countries, but this year there's a complication. The coronavirus pandemic is still very much with us, and it has led to a rise in single-use items, from personal protective equipment (PPE) to disposable coffee cups. In the U.S., many states have paused or backtracked on plastic bag bans, WIRED reported, and the UK has delayed its ban on plastic straws and stirrers by six months. Coffee shops including Starbucks have temporarily prohibited reusable mugs. And some U.S. grocery stores and states have gone so far as to prohibit personal shopping bags, as MPR News reported.
When it comes to plastic, the spread of the new disease has created a false dichotomy between public health and environmental stewardship. The organization City to Sea found that 36 percent of Brits feel pressured to use more plastic because of the pandemic. But it doesn't have to be this way.
"Caring for the planet doesn't mean we can't care for ourselves," Plastic Free July founder Rebecca Prince-Ruiz told The New York Times. "We can do both at the same time."
Plastic Free July is a global movement that helps millions of people be part of the solution to plastic pollution –… https://t.co/1kymzp2vi3— Plastic Free July (@Plastic Free July)1593557525.0
Here are three ways you can go plastic-free this July while keeping yourself healthy and safe.
1. Use Bar Soap
COVID-19 has made everyone newly aware of the importance of washing their hands for at least 20 seconds with soap and water.
Surfers Against Sewage suggests doing this with bar soap instead of plastic soap dispensers to reduce waste. But is it really safe for everyone in your household to be handling the same bar?
That's what Earther's Yessenia Funes wondered until Stanford University soap expert Marlene Wolfe set her mind at rest.
"While bar soap is icky to a lot of people because it can become wet and cracked and look dirty, if you are touching it and then using it to wash your hands, whatever negligible amount might transfer to your hands should also be washed off during washing," Wolfe said. "And there's some work to suggest that bacteria are unlikely to transfer off of bar soap, and I would suspect this would hold for viruses."
But if you really love those pump bottles, Wolfe recommends getting reusable ones and refilling them in bulk.
2. Wear a Cloth Mask
You can protect yourself and the planet by choosing a cloth mask, experts told The New York Times. While N-95 respirators and surgical masks offer the best protection against the virus, experts say that, for the general public, cloth masks are plenty safe and much more sustainable. Both N-95 and surgical masks are made with petroleum products that do not break down, plus it is important to reserve them for frontline workers whose risk of exposure is greater. Disposable paper masks, another option, are slightly misnamed because they often contain lots of microplastics.
When it comes to selecting a cloth mask, it is better to use old clothing you already have at home, like a T-shirt or bandanna, than to buy a new one.
"Virgin fiber of any kind is going to require more energy, more resources and more toxic chemicals than something that has already been made," University of California, Berkeley physician and environmental health researcher Dr. Megan Schwarzman told The New York Times.
3. Don't Ditch Your Reusables
If you were using reusable shopping bags and food containers before the pandemic, you don't have to abandon them now. And, if you haven't yet picked up this habit, it is safe to start this Plastic Free July.
More than 100 scientists from 18 countries signed a statement last month saying that it was safe to use reusable items like bags, cups and utensils as long as they were properly cleaned.
"Single-use plastic is not inherently safer than reusables, and causes additional public health concerns once it is discarded," the experts wrote.
The choice may be out of your control if your coffee shop, grocery store or state has banned reusable cups or bags, but you can participate in online campaigns to promote reusables.
In the the UK, City to Sea has started #ContactlessCoffee to encourage the safe use of refillable containers as cafes reopen. They are asking people to share the campaign video on social media while tagging their favorite local coffee joint and using the #ContactlessCoffee hashtag.
- COVID-19 Masks Are Polluting Beaches and Oceans - EcoWatch ›
- Plastic Packaging Use Increases During the Coronavirus - EcoWatch ›
- Coronavirus Worsens Thailand's Plastic Waste Crisis - EcoWatch ›
- Coronavirus Plastic Waste Polluting the Environment - EcoWatch ›
- Starbucks to Require All U.S. Customers to Mask Up - EcoWatch ›
OlgaMiltsova / iStock / Getty Images Plus
By Gwen Ranniger
In the midst of a pandemic, sales of cleaning products have skyrocketed, and many feel a need to clean more often. Knowing what to look for when purchasing cleaning supplies can help prevent unwanted and dangerous toxics from entering your home.
1. Fragrance – Avoid It
One of the fastest ways to narrow down your product options is immediately eliminating any product that promotes a fragrance, or parfum. That scent of "fresh breeze" or lemon might initially smell good, but the fragrance does not last. What does last? The concoction of various undisclosed and unregulated chemicals that created that fragrance.

Many fragrances contain phthalates, which are linked to many health risks including reproductive problems and cancer.

2. With Bleach? Do Without
Going scent-free should have narrowed down your options substantially – now, check the front of the remaining packaging. Any that include ammonia or chlorine bleach ought to go, as these substances are irritating and corrosive to your body. While bleach is commonly known as a powerful disinfectant, there are safer alternatives that you can use in your home, such as sodium borate or hydrogen peroxide.

While you're at it, check if there are any warnings on the label – "flammable," "use in ventilated area," etc. – if the product is hazardous, that's a red flag and should be avoided.

3. Check the Back Label
Flip to the back of the remaining contenders and check out that ingredient list. Less is more, here. Opt for a shorter ingredient list with words you recognize and/or can pronounce.

You may notice many products do not have ingredient lists – while this doesn't necessarily mean they contain toxic ingredients, transparency is key. Feel free to look up a list online, or stick to products that are open about their ingredients.

4. Ingredients to Avoid
We already mentioned that cleaners containing fragrance or parfum, and bleach or ammonia should be avoided, but there are other ingredients to look out for as well.

Quaternary ammonium "quats" – lung irritants that contribute to asthma and other breathing problems. Also linger on surfaces long after they've been cleaned.

Parabens – Known hormone disruptor; can contribute to ailments such as cancer

Triclosan – triclosan and other antibacterial chemicals are registered with the EPA as pesticides. Triclosan is a known hormone disruptor and can also impact your immune system.

Formaldehyde – Causes irritation of eyes, nose, and throat; studies suggest formaldehyde exposure is linked with certain varieties of cancer. Can be found in products or become a byproduct of chemical reactions in the air.

Cleaning Products and Toxics: The Bottom Line
Do your research. There are many cleaning products available, but taking these steps will drastically reduce your options and help keep your home toxic-free. Protecting your home from bacteria and viruses is important, but make sure you do so in a way that doesn't introduce other health risks into the home.

Reposted with permission from Environmental Health News.

EcoWatch Daily Newsletter
JasonOndreicka / iStock / Getty Images
Twenty-five years ago, a food called Tofurky made its debut on grocery store shelves. Since then, the tofu-based roast has become a beloved part of many vegetarians' holiday feasts.
By Jessica Corbett
A leading environmental advocacy group marked Native American Heritage Month on Wednesday by urging President-elect Joe Biden, Vice President-elect Kamala Kamala Harris, and the entire incoming administration "to honor Indigenous sovereignty and immediately halt the Keystone XL, Dakota Access, and Line 3 pipelines."
- Climate Crisis: What We Can Learn From Indigenous Traditions ... ›
- 10 Organizations Honoring Native People on Thanksgiving ... ›
- Biden Vows to Ax Keystone XL if Elected - EcoWatch ›
Returning the ‘Three Sisters’ – Corn, Beans and Squash – to Native American Farms Nourishes People, Land and Cultures
By Christina Gish Hill
Historians know that turkey and corn were part of the first Thanksgiving, when Wampanoag peoples shared a harvest meal with the pilgrims of Plymouth plantation in Massachusetts. And traditional Native American farming practices tell us that squash and beans likely were part of that 1621 dinner too.
Abundant Harvests
Historically, Native people throughout the Americas bred indigenous plant varieties specific to the growing conditions of their homelands. They selected seeds for many different traits, such as flavor, texture and color.

Native growers knew that planting corn, beans, squash and sunflowers together produced mutual benefits. Corn stalks created a trellis for beans to climb, and beans' twining vines secured the corn in high winds. They also certainly observed that corn and bean plants growing together tended to be healthier than when raised separately. Today we know the reason: Bacteria living on bean plant roots pull nitrogen – an essential plant nutrient – from the air and convert it to a form that both beans and corn can use.

Squash plants contributed by shading the ground with their broad leaves, preventing weeds from growing and retaining water in the soil. Heritage squash varieties also had spines that discouraged deer and raccoons from visiting the garden for a snack. And sunflowers planted around the edges of the garden created a natural fence, protecting other plants from wind and animals and attracting pollinators.

Interplanting these agricultural sisters produced bountiful harvests that sustained large Native communities and spurred fruitful trade economies. The first Europeans who reached the Americas were shocked at the abundant food crops they found. My research is exploring how, 200 years ago, Native American agriculturalists around the Great Lakes and along the Missouri and Red rivers fed fur traders with their diverse vegetable products.

Displaced From the Land
As Euro-Americans settled permanently on the most fertile North American lands and acquired seeds that Native growers had carefully bred, they imposed policies that made Native farming practices impossible. In 1830 President Andrew Jackson signed the Indian Removal Act, which made it official U.S. policy to force Native peoples from their home locations, pushing them onto subpar lands.

On reservations, U.S. government officials discouraged Native women from cultivating anything larger than small garden plots and pressured Native men to practice Euro-American style monoculture. Allotment policies assigned small plots to nuclear families, further limiting Native Americans' access to land and preventing them from using communal farming practices.

Native children were forced to attend boarding schools, where they had no opportunity to learn Native agriculture techniques or preservation and preparation of Indigenous foods. Instead they were forced to eat Western foods, turning their palates away from their traditional preferences. Taken together, these policies almost entirely eradicated three sisters agriculture from Native communities in the Midwest by the 1930s.

Reviving Native Agriculture
Today Native people all over the U.S. are working diligently to reclaim Indigenous varieties of corn, beans, squash, sunflowers and other crops. This effort is important for many reasons.

Improving Native people's access to healthy, culturally appropriate foods will help lower rates of diabetes and obesity, which affect Native Americans at disproportionately high rates. Sharing traditional knowledge about agriculture is a way for elders to pass cultural information along to younger generations. Indigenous growing techniques also protect the lands that Native nations now inhabit, and can potentially benefit the wider ecosystems around them.

By Jake Johnson
Amid reports that oil industry-friendly former Energy Secretary Ernest Moniz remains under consideration to return to his old post in the incoming Biden administration, a diverse coalition of environmental groups is mobilizing for an "all-out push" to keep Moniz away from the White House and demand a cabinet willing to boldly confront the corporations responsible for the climate emergency.


text:
Amec, the project management and services company, has bought French nuclear engineering company ATM Enterprise for *20.5m (£14.2m).
Amec already owned a stake in ATME, after Peroue Spie Capital, in which Amec has a 49% stake, bought the company formerly known as Game Nucleaire last April.
Amec has bought out the 51% shareholder in Peroue Spie Capital - Peroue Conseils.
ATME employs 620 people and achieved a *41m (£28m) turnover in 2005. A statement on Tuesday said the acquisition would strengthen Amec Spie's nuclear services business.
Amec put Amec Spie up for sale last November. Last year it made a profit before interest, tax, and amortisation of £49.7m on a £1.75bn turnover.
At Amec's annual results two weeks ago, chairman Sir Peter Mason said the sale should be complete by the middle of this year.


text:
TOKYO (Reuters) -Japanese video game maker Nintendo Co Ltd said on Tuesday it plans to lift workers’ base pay by 10% even though a firmer yen forced it to trim its full-year profit forecast.
The hefty pay hike comes amid calls by Prime Minister Fumio Kishida for Japanese companies to pay workers more as inflation takes hold in an economy used to years of deflation and stagnant wages, and as Japan prepares for its annual spring round of labour negotiations.
Fast Retailing Co Ltd, the parent of the Uniqlo clothing chain, was one of the first companies off the blocks, jolting Japan Inc when it said last month it would hike wages by as much as 40%.
“It’s important for our long-term growth to secure our workforce,” Nintendo President Shuntaro Furukawa told an earnings briefing.
For companies that can afford to do so, higher salaries may also help them attract talent as a falling birth rate and low immigration leave Japan with serious labour shortages.
The creator of “Super Mario Bros” and “Legend of Zelda” cut its operating profit 4% to 480 billion yen ($3.6 billion) for the year to March 31, much lower than a Refinitiv consensus forecast for a profit of 582 billion yen.
Nintendo also revised its annual software sales forecast down to 205 million units from 210 million, and cut its Switch console sales target to 18 million units from 19 million.
The Kyoto-based company does not plan to raise software or game console prices, but would consider doing so if circumstances demanded it, Furukawa said. He declined to comment when asked whether the company was considering a successor to the six-year old Switch.
Nintendo, which competes with PlayStation creator Sony Group Corp and Xbox maker Microsoft Corp, sold 8.2 million Switch units in the latest quarter, a 23% slide from the same period a year earlier.
(Reporting by Tim Kelly; Editing by Tom Hogue and Edwina Gibbs)


text:
It’s not been the most straightforward 18 months for pharmaceutical giant GlaxoSmithKline (GSK). The rest of the industry hasn’t exactly been revelling in record profits, of course: patent cliffs, price cuts and increased regulation have put off investors, causing the whole industry to slow down. GSK has been hit by these problems, too, but it’s also needed an aggressive course of reputation management after a scandal and resultant lawsuit in the US. The company was fined $3bn for falsely advertising and misselling antidepressants such as Wellbutrin and Paxil – the largest fine ever in the pharmaceutical industry. The patent cliff has been looming for GSK, along with the rest of the industry, for some years.
The end of a patent is more significant in the pharmaceutical industry than in consumer goods because rapid innovation is not an option in healthcare. In 2010, GSK lost its US patent on asthma drug Advair. Last year, the patent ran out in Europe.
In addition to its patenting problems, GSK is facing an investigation by the Chinese authorities into possible bribery and corruption. The corporation is accused of bribing doctors and healthcare professionals to prescribe specific drugs. It is alleged the company spent up to £320m on bribes to clinch higher prices for their prescription drugs and win market share.
In addition to its patenting problems, GSK is facing an investigation by the Chinese authorities
Whether this bribery, if it occurred, was the result of a few bad employees within the company or wider corporation policy is not yet clear. Chinese authorities are still looking into the allegations, making it clear the country will not stand for corruption – particularly from foreign companies. Yet it remains to be seen whether the patenting issues or the lawsuits will cause long-term problems for the company, and where investment should be focused to protect the company from such problems in the future.
Not quite out of breath
Advair, the most popular drug for chronic obstructive pulmonary disease (COPD), is responsible for 20 percent of GSK’s total annual profit. It brings in $8.6bn in annual revenue. It is marketed by GSK all over the world under the names Seretide, Viani and Adoair, among others. As the patent has now expired in both Europe and the US, GSK is looking to invest in alternatives to fill the market. Considering that Advair is responsible for such a large percentage of the firm’s profits, GSK is keen to maintain its monopoly over the product.
It’s likely that, in the immediate term, Advair will not prove too problematic. The patent expired in the US three years ago and the impact has not really been felt. The company is fortunate in that, although the patent on the drug has expired, the patent on the technology required to administer the drug (a device known as Diskus) does not run out until 2016. Without this technology, it is remarkably difficult to produce an equivalent COPD drug to Advair.
The medication itself is formed from a combination of two different asthma drugs, making it hard to copy in the correct dosage. Therefore, GSK’s monopoly over Advair is probably safe for the next three years at least. Drug company Mylan is the favourite to replicate the drug quickest, but that will not happen until after Diskus falls off the patent cliff in 2016.
At the moment, Advair’s strongest competitor is a drug owned by British pharmaceutical company AstraZeneca, known as Symbicourt. This generates $3.2bn in yearly sales, compared with Advair’s $8.6bn. If the prominence of Symbicourt increases, the patent loss could be a much more serious problem for GSK. To combat the threat, GSK is focusing its efforts on developing new cancer and HIV drugs so that, by the time Advair begins to lose its worth, the drugs sector of the company will have diversified its profit base. GSK also has the advantage of developing vaccines and consumer products, as well as pharmaceuticals, so it has the potential to diversify in those sectors if necessary.
Annual profits from Advair
Annual profits from nearest competitor
Advairs contribution to GSK annual profits
Fine for misselling and false advertising
Alleged cost of bribes in China
Expected fine in China
China’s contribution to GSK annual profits
Factories in China
Employees in China
The drugs don’t work
It will not be so straightforward with GSK’s ongoing issues in China, where the problems are more to do with reputation and public relations. If found guilty of corruption and bribery, GSK could face heavy fines. The worst outcome for GSK would be if it were forced to leave China. Despite currently only making four percent of its profits in China, GSK has invested heavily in the country, opening five factories and employing over 7,000 people.
Developing markets are of particular importance to GSK as patent cliffs are slowing its growth in developed ones. The company acknowledged the importance of the Chinese market in a press release issued after representatives from GSK met with Chinese officials. Abbas Hussain, President International for GSK, said: “We will actively look at our business model to ensure we make a significant contribution to meeting the economic, healthcare and environmental needs of China and its citizens.”
The company’s sales in China plummeted 61 percent in the third quarter of 2013. The bribery scandal has limited GSK’s ability to market its products and has pushed much of its market share towards its competitors. GSK will need to reclaim this if it is to continue building a strong presence in China. Furthermore, fines for the corruption and bribery accusations are expected to be in the range of $2bn, which would have a big impact on the company’s annual profit.
In 2012, the company was accused of marketing an antidepressant drug as being suitable for younger people in the US despite proof it was linked to suicidal tendencies in teenagers. GSK also paid Dr Drew Pinsky to promote the drug on his popular radio show as helping with sexual performance and weight loss, although there was no evidence to support such claims. As a result of this false advertising, GSK was fined $3bn – a record amount in the pharmaceutical industry. Despite the fact that, financially, GSK is able to recover from such payouts, its reputation will struggle to be restored. GSK’s popularity has plummeted in the US as the result of the revelations and, where possible, consumers are seeking alternative suppliers.
Drawing a line
No individual was prosecuted after the Wellbutrin fiasco. It is unlikely the Chinese authorities will be so lenient. Four sales executives have already been arrested as part of the investigations. The hammer could also fall on senior members of the company despite the fact they were not necessarily involved in the groundwork of the schemes. The Chinese authorities say they have evidence to suggest those at managerial level had full awareness of the corrupt processes taking place. The former chief of GSK’s operations in China, Mark Reilly, has been banned from leaving the country. Even in the West, some see the arrests as the only plausible way to stop this sort of corruption and make sure of stricter corporate governance. The threat of relatively small-scale fines is not a sufficient deterrent.
Even in the West, some see the arrests as the only plausible way to stop this sort of corruption and make sure of stricter corporate governance. The threat of relatively small-scale fines is not a sufficient deterrent.
If, as seems increasingly likely, it transpires the corruption was not the work of a few individuals but the result of a deep-seeded company policy, GSK could be at risk of prosecution in the UK under the country’s far-reaching anti-bribery laws. There were rumours this would happen after the misrepresentation of antidepressants in the US, as the drugs were also marketed in the UK as being suitable for teenage consumption. However, this came to nothing. Yet a British company suffering two similar scandals in as many years is unlikely to go unnoticed by the country’s authorities.
A spokesman for GSK said: “There is no question about our commitment to China. It is a critically important company of the future.” However, BBC Business Editor Robert Peston believes the only feasible option might be “withdrawal from what many would see as the most important market in the world”. GSK sales executives have been banned from hospitals in China and sales have dropped at an unprecedented rate.
Perhaps it is a case of weathering the storm, but China seems keen to be seen as taking a hard line on corruption and is using foreign companies as scapegoats. That is not to protest GSK’s innocence but rather recognise that an exit from China might be the only option. That said, GSK might be saved by the culpability of other pharmaceutical companies.
It is not just GSK that is currently being investigated by Chinese authorities: Eli Lilly, Novartis and Sanofi have been all victims of whistle blowing in the media. Sales executives from a number of these companies have also been banned from entering hospitals. As it’s unfeasible they will all have to leave China, GSK might be able to retain its position. But that depends, of course, on the outcomes of the various investigations.
Hope for the future
While the situation in China and the shocking sales drop has deterred investors, it appears that confidence in GSK is not entirely lost. Its diverse revenue streams enable the company to face problems targeted at a particular sector without detriment to the rest of the corporation.
Furthermore, GSK is investing heavily in the development of new drugs, particularly in the respiratory diseases area, where it has held prominence for so many years with the drug Advair. The company is also, as noted, putting money into developing HIV and cancer drugs, as well as trying to increase its philanthropic work.
GSK has pledged money to Save the Children’s projects in areas with high rates of HIV, to compensate for the company’s current HIV drugs being far too expensive for those who most need them. In the third quarter of 2013, GSK had approval for two new drugs in the US (Tivicay for HIV and a flu vaccine) and one in Europe (Tafinlar for metastatic melanoma). It has also been given approval in Japan for Revlar: a respiratory disease drug that could replace Advair.
Andrew Witty, CEO of GSK since 2008, is trying to change the culture of the company. Witty’s strategy has been to diversify the company’s products: he has overseen heavy investment in consumer products, such as Sensodyne, to prevent too great a dependency on sales of drugs to the West. In spite of this, there has been no talk of a policy overhaul in light of the China scandal.
GSK has requested its auditors, Ernst and Young, carry out an independent audit, alongside the Chinese authorities, to figure out where the corruption occurred and whether it was the work of a few individuals or a result of immorality in the company strategy. Perhaps, when a fine is set, GSK can consider the best way to prevent this sort of scandal occurring in the future and make a gesture of contrition – or pull out of the Chinese market altogether.


text:
Black Friday (26 November 2021) is one of the key seasonal retail opportunities and despite non-essential shops being closed for it last year, over £8bn was still spent in the UK on Black Friday 2020.
This year, retailers will hope to get two bites of the Black Friday cherry, with strong online sales coupled with a rebounding in-store presence.
Black Friday is notorious for driving heavy footfall to retail sites with shoppers on the hunt for the best deals. Alight Media, the UK’s fastest growing OOH media owner, is helping brands influence consumer purchasing decisions in the right place, at just the right time.
According to GB TGI 2021 August, the heaviest consumers of outdoor media have purchased on Black Friday.
Three reasons OOH can help drive spend on Black Friday:
- OOH is the medium experienced most recently before shopping
(Last Window of Influence study)
- 82% of shoppers will be as engaged or more with Black Friday vs. last year (Future Plc)
- 70% of shoppers are planning to spend the same amount or more this Black Friday vs. 2020 (Future Plc)
Contact email@example.com before Thursday 25 November to find out more about Alight Media’s Black Friday deals.