text:
MCB Bank Limited, one of Pakistan’s leading banks, has entered into a strategic partnership with Telenor Pakistan, a leading telecommunication services provider, to facilitate its digital banking customers with greater access to Telenor Pakistan’s prepaid recharge services, special bundles and post-paid services.
Under the partnership, MCB Live users will be able to pay for new Telenor packages, special bundles, post-paid services and a host of other services directly from within the MCB Live app, at a single click of a button. The integration provides MCB Live users greater flexibility and convenience in acquiring Telenor Pakistan’s services on the go from wherever they may be.
The agreement was signed between Mr. Shahzad Ishaq – Group Head Digital Banking, MCB Bank and Mr. Umair Mohsin – Chief Marketing Officer, Telenor Pakistan at MCB House, Lahore in the presence of Mr. Jaffar Abbas Shirazi – Division Head Digital Channels & Branchless Banking MCB Bank, Ms. Ambreen Latif Bawany – Head Marketing MCB Bank and other representatives from MCB Bank and Telenor Pakistan.
Speaking at the occasion, Mr. Shahzad Ishaq, Group Head Digital Banking, MCB Bank lauded the shared objective of creating customer convenience and enhancing customer experience through offering Telenor packages and bundles to MCB Bank customers. He also said that “Having a direct connectivity between leading players in banking and telecommunication will be a beginning of deeper cooperation between the two companies. We will continue building shared-value to succeed our customers.”
Mr. Umair Mohsin, Chief Marketing Officer, Telenor Pakistan also added, “We’re continuously exploring new channels to facilitate our customers, and this partnership is a testament to that. Through our digital collaboration with MCB, we are creating even more accessibility for our customers so they can recharge their package and make product/bundle purchases from the comfort of their homes. Direct integration with MCB will give sustainable connectivity and improved portfolio.”


text:
Google faces probe over Yahoo! advertising deal
How dominant is too dominant?
Google and Yahoo! will face a competition probe over their proposed advertising deal. The inquiry will look at whether the deal gives the already-dominant Google too much market power.
The deal only applies to the US and Canada at the moment and US authorities have said they will investigate it, but it is likely that European authorities would also examine the deal if it were extended to the EU.
The agreement allows Google to serve adverts next to Yahoo! search engine results. The deal is non-exclusive and will see Google ads used next to Yahoo! results for certain pre-chosen search terms.
Yahoo! will choose which terms will be served by Google. It said that the two systems competed heavily on common words, but that Google's system produced better results for infrequently searched-for terms.
The deal raises competition concerns because Google and Yahoo! are competitors in the internet advertising market. Google has 68 per cent of the US search market and Yahoo! is dominant in the market for internet display ads.
Aware of the competition law sensitivities the companies have left a window of three-and-a-half months for the US Department of Justice to investigate the deal for competition law irregularities.
The US Senate's Antitrust Committee will investigate the deal, its chairman Herb Kohl said.
"This collaboration between two technology giants and direct competitors for internet advertising and search services raises important competition concerns. The consequences for advertisers and consumers could be far-reaching and warrant careful review, and we plan to investigate the competitive and privacy implications of this deal further in the Antitrust Subcommittee," he said.
But the final word on the deal will rest with the Department of Justice (DoJ), which will assess whether or not the move restricts competition too heavily in a market in which Google is already the strongest company.
Experts say that the crucial factor in the DoJ's analysis will be the definition of the market in which the companies are said to operate. Google has little market power in the whole advertising market, more in the internet advertising market and an enormous amount in the internet search market. The outcome of the probe is likely to depend on which market definition is chosen.
Analyst Blair Levin of Stifel Nicolaus told investors in a note that another key issue will be whether or not Yahoo! maintains full operation of its own system, Panama.
"We believe the companies need to do a better job than they did on yesterday's calls [to press and analysts outlining the deal] to answer the question why the efficiencies of the deal won't ultimately lead advertisers to move to Google, leaving Yahoo without a viable search advertising product and Google as the only search advertising game in town," Levin said in his note.
Competition law expert Edward Anderson of Pinsent Masons, the law firm behind OUT-LAW.COM, said that it is no accident that the deal is being trialed first in the US and Canada.
"The European competition authorities have a reputation for being more adverse to deals between companies with large market shares than their American counterparts, who are typically more easily convinced by arguments of efficiency," he said.
"Google and Yahoo! may have decided to test the waters in North America before Europe because if the North American authorities object to the deal it is unlikely that European regulators would approve of it," said Anderson.
Anderson said that the crucial question in Europe would also be what the regulators chose to define as the market in which Yahoo! and Google's ad services compete.
"If implemented in the EU, the big issue will be how the European competition authorities define the market, because this determines market shares and what competitive constraints exist on the parties; the wider the market, the lower the market shares and the more possible constraints and less chance of competition problems," he said.
Yahoo!, Google and Microsoft have been embroiled in complex corporate machinations in recent months. Microsoft offered to buy Yahoo! but was rebuffed, and then made an offer to buy 16 per cent of the company last week.
Google objected to the deal, claiming that the resulting merged company would be anti-competitive.
Now that the Google-Yahoo! tie up has been made public, Microsoft says it believes that deal to be anti-competitive.
"Our position has been clear since April that any deal between these two companies will increase prices for advertisers and start to consolidate more than 90 per cent of the search advertising market in Google's hands," Microsoft spokesman Jack Evans told CNET News. "Legal and industry experts agree that this would clearly make the market less competitive."
Copyright © 2008, OUT-LAW.com
OUT-LAW.COM is part of international law firm Pinsent Masons.

domain: news


text:
Donna Rovins - MediaNews Group
MediaNews Group File Photo
Donna Rovins - MediaNews Group
As the country deals with the ongoing spread of the coronavirus, grocers across the region continue to adjust their operations.
Some of the changes implemented by stores in the last couple of weeks include Plexiglas shields for cashiers, adjusted shopping hours and shopping times for seniors and high risk individuals, designated hours for cleaning and restocking, one-way shopping and limited capacity in stores.
Acme Markets and Lidl are the latest grocery chains to announce they are limiting store capacity. Lidl announced Friday that beginning Saturday, April 11, it will begin limiting the number of customers in the stores to a maximum of five per 1,000 square feet.
Acme Markets made a similar announcement Thursday, saying the number of customers allowed in its 164 stores at one time is limited to 20% of the store’s capacity.
“The health and safety of our customers, associates and their families is our top priority,” Jim Perkins, president of the Malvern-based Acme, said in a press release. “We believe this is an important step to help reinforce proper social distancing.”
Another chain that has instituted store occupancy limits is Aldi, which on Thursday, also began limiting the number of people inside the store to approximately five customers per 1,000 square feet. Aldi said it will have store employees stationed outside the stores, keeping track of customers as they enter and exit.
“We will admit shoppers into the store one at a time. We may enforce a brief delay between customers to allow for adequate space between customers as they enter,” a statement on Aldi’s website read.
An exception is being made by Aldi for medical professionals, with identification – to go to the front of any line that may form outside the stores.
Redner’s has not instituted any limits to the number of customers across the board, although the procedure is in effect at its four stores in Delaware, where it has been mandated by the governor, according to marketing director Eric White.
On its website outlining its coronavirus response measures. Wegmans said it is operating its stores at “15-20% of their maximum occupancy, with practices in place to ensure those limits are maintained.”
Whole Foods is also limiting the capacity of customers based on store size.
As of Thursday afternoon, Giant Foods had not announced measures to limit the number of shoppers in its stores.
ONE-WAY SHOPPING/SOCIAL DISTANCING
Several of the grocery chains have also implemented an arrow system in the stores to maximize social distancing by having customers shop in the same direction.
Giant Foods has established a single entrance and exit at each of its stores and have set up one-way aisles, with the floors marked with arrows showing which direction shoppers should be heading.
“These measures will be communicated to customers by in-store signage and team members dedicated to educating customers on the changes to their shopping experience,” a statement on the Giant website states.
The chain has taken another step by directing the flow of customers into the registers. Markers on the floor indicate a 6-foot space between customers.
Aldi has also set up temporary one-way aisles to “better manage the flow of traffic and help our customers maintain social distance from each other and our team members.”
Acme Markets has placed directional arrows on the floors to promote one-way foot traffic through stores, including up and down aisles.
“This is in addition to decals marking off 6-foot spaces through the checkstands and other areas that can cause lines to form like our deli, meat, seafood and pharmacy departments,” the press release read.
Whole Foods, Wegmans and Lidl have also installed spacing guidelines to encourage social distancing
In addition, Lidl has installed new signage stressing the importance of social distancing.
“These social distancing messages, together with other recommended behavioral practices, are reiterated throughout the day in our in-store announcements and on large monitors in our employee breakrooms,” Lidl’s website states.
According to White, Redner’s will be installing social distancing floor images in the coming days. The images arrive at the stores starting on Friday.
As far as the one-way aisles are concerned, White said the company is considering it.
“We’re looking at it and the best way to make it effective in the stores,” he said.
Most of the chains in the region have added Plexiglas barriers at the registers to protect customers and team members, including: Giant, Whole Foods, Wegmans, Acme and Lidl.
Redner’s does not yet have the Plexiglas barriers installed across the chain, according to White, who added it is “an active project” that will be completed in the next several days.
Another project in the works for Redner’s is the installation of wraps for the check-out belts – an antimicrobial added to each of the belt. White said four belts in each store had already been provided with the new wraps in honor of the company’s 50th anniversary.
“Now we’re getting them for every belt. Our employees will still clean and sanitize the belt, but this is an added layer of protection,” White said, adding the belt wraps are coming in within the next week.
Wegmans, Redner’s and Lidl are making protective items available to employees. Wegmans is providing gloves to employees. Lidl provides five pairs of disposable gloves per employee per shift and is “actively sourcing protective masks” which it expects to make available to employees within the next 10 days.
Similarly, Redner’s allows associates to wear protective gloves, and the company is obtaining masks that it will provide to employees.


text:
Japan’s NEC has agreed to buy Avaloq Group AG - Switzerland’s largest software provider to banks – for CHF2 billion ($2.2 billion).This content was published on October 5, 2020 - 08:36
The Japanese technology group will acquire Avaloq, Europe’s top provider of financial asset management software, from Avaloq’s founder and employees and private equity firm Warburg Pincus, which has a 45% stake and engineered the sale.
Avaloq, whose customers include Deutsche Bank and HSBC, reported sales of CHF610 million last year, 70% of which came from Europe.
The deal will allow NEC to offer cloud services acquired through the merger combined with its own biometrics and data analysis products to financial institutions and governments.
The Japanese corporation has spent the last decade restructuring unprofitable units that lost business to price-competitive Asian rivals, selling its semiconductor, personal computer and smartphone units.
NEC said it will target Japan, where financial institutions have been slow to move online and new Prime Minister Yoshihide Suga has pledged to modernise outdated government systems.
“Talking to NEC’s top managers it became clear to me, that they share my ambition for Avaloq to continue to shape the future of the financial industry by continuing to invest heavily in R&D,” Avaloq founder Francisco Fernandez said in a statementExternal link on Monday.
“But I also sensed the cultural fit, caring about customers and people, striving for excellence and highest quality standards, for which ultimately Switzerland and Japan stand for.”


text:
Days after a woman was awarded more than $90,000 in damages for slipping on a grape in a supermarket, and another entrepreneur filed a claim for $50,000 for slipping on a banana while grocery shopping, a Lakemba man is now suing his local supermarket for not having anything on the floor to slip on.
“Being a simple working class man on the dole, my time is precious,” the victim said. “So after wasting six hours in my local supermarket looking for something to slip on without luck, I demand compensation.”
While circling the supermarket for spills, the man missed his favourite daytime TV shows and wasn’t present for the afternoon badge draw at his RSL club, an ordeal that his barrister claims left the victim “shaking from alcohol withdrawals”.
“This is another case of supermarkets bullying the small guys,” the barrister said. “First they went after the farmers, and now my client is being forced to live on just his dole payment due to the supermarkets’ competence.”


text:
The bank branch is going to play a new, yet crucial role for traditional financial institutions in the new landscape with Fintechs and digital-only competitors.
Posts Tagged ‘Gemalto’
We’re here to explain why the incorporation of biometric authentication and identification in your travels will lead to a more convenient, secure future.
Questions about digital driver's licenses? Our experts are here to answer your questions.
A look back at some of the defining moments in the history of the SIM card industry.
Contactless payments are now a global phenomenon. Cash is on the way out and the contactless “beep” is on its way in.
The end of roaming charges is great news for consumers, but there have been valid concerns expressed by MNOs over potential abuses.


text:
Whether we're shopping online, booking a holiday or signing up to a new mobile phone contract, we trust the companies we deal with to protect our details.
But an ever-growing list of data breaches affecting the world's largest organisations is eroding that trust.
Earlier this year, easyJet told roughly nine million customers their data had been compromised in a breach.
Marriott also hit the headlines for losing around 5.2 million people's contact and personal information - its second data breach in three years.
And the recent cyberattack on a cloud computing provider, Blackbaud, has left students and charity donors concerned their records have fallen into the hands of criminals.
Here, Which? investigates the cost of lost data and why it should be easier for victims to seek redress.
We found that 23% of Which? members have had their data compromised following a cyberattack on a company or organisation, according to our survey of 1,369 members in July 2020.
And 46% of those members later experienced fraudulent activity.
That's just those who were aware their data had been compromised. We also asked members to submit their email addresses to , a website that tells if your email address has been involved in a data breach.
We had 515 members take part, submitting a total of 610 email addresses. It was revealed that:
Troy Hunt, creator of the site, warns that the numbers are likely to be much higher: 'The average account will have been in about two data breaches. But there are a whole host of other breaches we don't know about and the breached passwords might be used in other places.'
Beyond simply withdrawing money from your account, or using your debit or credit card details, stolen data can be used for other purposes.
Drew Perry, chief executive of cybersecurity firm Tiberium, explained: 'There are a number of cybergangs out there and most of them are Russia-based and financially motivated. And these operations are slick and sophisticated. They have help-desks and refund policies.'
Drew told us about one forum on the dark web: 'An EU bank card number with all associated personal data sells for US$9.90 on this particular site, or in a bulk of 10 for US$99. The bulk pack includes all instructions and information you need to carry out your fraud operation to make money.'
One British Airways customer told us his trip to Thailand became a holiday from hell after the airline suffered a data breach in 2018.
'I got to the Manchester Airport and that's when everything started going very weird', Jamie explained.
He received an email from Royal Bank of Scotland (RBS) telling him changes had been made to his bank account.
'I was very stressed,' he said. 'I needed to get on the plane, so I couldn't contact the bank to see what the changes were.'
When Jamie arrived in Thailand, his debit card was declined.
'RBS had suspended my account because there had been a lot of suspicious activity. Someone had tried to take £15,000 from my account.' Also, Nationwide blocked his debit card after strange activity was detected.
'At this point, I'm in a foreign country with no access to money. I was told they couldn't reactivate my cards until I came back to the UK,' Jamie explained.
Jamie found the experience was highly stressful. 'I'm a switched-on person usually,' he told us. 'But I can't tell you what it felt like to have someone try to steal my money and then be told there's nothing I can do until I get back to the UK.'
Jamie struggled to get in touch with BA, but did eventually speak to its customer service team through Twitter and managed to get home, at his own expense.
He's since joined a group action claim against the airline and sent it an invoice, covering the cost of his ruined holiday and getting home. He's yet to receive a response.
'I look back and remember having numerous panic attacks, all because of the stress caused by a data breach,' Jamie told us. 'It's been nearly two years since I bought that ticket and I don't want BA to get away with this. The consequences have gone far beyond me having to ring my bank a few times.'
BA told Which? it notified all affected customers as quickly as possible and confirmed it would reimburse any direct financial losses as a result of the attack, and offer credit-rating monitoring.
It added: 'This was a unique case which we investigated at the time and could find no evidence that the fraud was attributable to the cyberattack. A response to the relevant customer's concerns was provided at the time.'
One patient who received therapy through Anxiety UK was contacted by the charity following the Blackbaud data breach in May 2020, to say her information may have been compromised.
The stolen data included personal information, as well as 'limited notes' for those who had accessed therapy services with the charity.
'While I know my therapist notes weren't included, they still hold other sensitive information from the screenings I took when signing up,' she told us.
'I'm very open about my anxiety and my journey with mental health, but there's lots of other people who are still fearful about the stigma of having a mental health illness. It's not good enough to just receive a blase “sorry email”,' she added.
'I don't know what my rights are because there's nothing in the information the charity sent me,' she said. 'They seem to think bank details are more important, but banks refund customers, while there's no protection for medical information.'
Blackbaud paid the hackers a ransom, and the hackers said they had destroyed the copy of information. It says it has no reason to believe the compromised data has or will be misused.
But the victim is concerned her data is still out there.
'The charity emailed to say the information hasn't been misused, but how can they give those reassurances?' she said. 'I protect my data and check my credit file on a monthly basis, so I'm doing that bit right, but you can't run any checks on personal sensitive data.'
A spokesperson for Anxiety UK said: 'We've worked tirelessly over recent weeks to contact our beneficiaries to let them know what has happened, as they are our key priority as always.'
It's provided a dedicated email address for beneficiaries to contact directly and has offered the support of Anxiety UK-approved therapists.
Criminals prey on confusion, and the COVID-19 pandemic has given them ample opportunity.
Brendan, from Belfast, received a suspicious-looking email from easyJet in June.
'It looked like a standard easyJet email, but the links wouldn't work, which I found strange. It also said, “you've cancelled your holiday to Spain”, which wasn't true'. EasyJet had in fact cancelled Brendan's holiday prior to this email.
Unsure whether the email was fraudulent, Brendan tweeted easyJet but didn't receive a response.
Even though easyJet became aware of the breach in January 2020, it didn't start to inform customers until April.
'It's taken no responsibility,' Brendan said. 'I'm worried that my data is out there, possibly being passed around on the dark web.'
He would rather have asked for a refund, instead of rebooking, if he had known there was a data breach. 'I've become overly cautious and it's caused a lot of disruption,' Brendan said.
'Here's a business we've freely given our information to and the security issues are really concerning.'
EasyJet says it's sorry it didn't respond to Brendan's tweet and has now reassured him that the email was genuine.
It said it notified customers as soon as it was able to do so about the breach and offered a complimentary 12-month membership to an identity-monitoring service.
The company believes although the cyberattack was regrettable, it doesn't mean easyJet was at fault or that customers are entitled to compensation.
Under General Data Protection Regulation (GDPR), which came into force in 2018, the ICO can impose a maximum fine equivalent to u20ac20m or 4% of a company's global turnover for a data breach; previously, the maximum was £500,000.
Fines are determined by the scale of the breach and how long the organisation took to report it. But no organisation has yet paid these larger GDPR-era fines.
The ICO announced its intention to fine BA £183m last year for its 2018 breach. The next day it announced its intention to fine Marriott just under £100m for losing 339 million guest records.
The deadlines to issue the fines, however, were extended - and both companies are expected to appeal. The IAG Group, which owns BA, released a report in June, estimating the fine would be u20ac22m.
The ICO has refused to comment on the Marriott or British Airways cases until the regulatory process has concluded.
Fines might deter companies, but the money goes to the UK Treasury, not the victims. The ICO can't award compensation but will give its opinion in court, which might help a claim.
And although GDPR says you have a right to claim compensation following a breach, doing so is not easy.
A number of law firms offer no-win, no-fee group-action claims - but do your research.
Law firms take a percentage of your final compensation, typically between 25% and 35%.
Some have wildly different expectations of how much compensation you might get. One law firm believes the British Airways Group Litigation Order will result in up to £2,000 per person, while another firm expects £6,000 to £16,000, depending on damages.
When companies fail to comply with data protection rules, consumers should have easy access to effective redress.
Currently, we have an “opt-in” system, with the burden lying with consumers to bring court claims about unlawful data practices themselves, or to find a representative body that can do so on their behalf.
It's difficult to prove distress - financial or otherwise - was caused by a specific breach.
As Troy Hunt says: 'The number of data breaches that happen is staggeringly high.'
Even if haveibeenpwned.com suggests your email was involved, proving that this led to a scam is difficult.
The fact that harms suffered by consumers may seem relatively small, legal processes can be lengthy and costly, and a lack of accessible evidence means that many breaches go without redress.
This would then allow not-for-profit organisations such as Which? to bring collective redress actions on behalf of people on an 'opt out' basis, without those consumers each having to bring - or to appoint a representative body to bring - an individual case against the company involved.
A properly implemented redress system would ensure people could trust that harm suffered as a result of data breaches would be remedied and would simultaneously act as an incentive for companies to improve their data handling processes - resulting in fewer breaches.
Hear more from the victims of data breaches in the latest Which? Money Podcast episode.
While it's up to companies to prevent data breaches from happening, you can reduce the potential damage to your finances.


text:
INCANTATION: ANNOUNCES ‘THE INFERNAL STORM’ DELUXE VINYL REISSUE!
Relapse Records is excited to announce that INCANTATION‘s acclaimed 2000 full-length The Infernal Storm will be receiving the deluxe vinyl reissue treatment this November! Though first released at the turn of the century, The Infernal Storm has more than weathered the test of time and still stands as a punishing, top-tier extreme metal release today. Fifteen years since its release and since its first & only vinyl pressing, The Infernal Storm will now be repressed on Relapse 25th anniversary silver vinyl and black vinyl housed in deluxe gatefold packaging. The reissue will also include liner notes by the band’s John McEntee, expanded artwork, and an album art poster.
INCANTATION will also be playing two shows with death metal legends AUTOPSY this coming October & November, including an appearance at Housecore Horror Fest alongside Relapse artists ZOMBI, AGORAPHOBIC NOSEBLEED, and CRIPPLE BASTARDS:
Oct 23 Chicago, IL Reggies Get Tickets
Nov 15 San Antonio, TX Aztec Theater (Housecore Horror Festival) Get Tickets
The reissue of INCANTATION‘s The Infernal Storm is a part of Relapse’s ongoing 25th anniversary reissue series, which is featuring numerous classic and long-out-of-print releases, many of which are being repressed on vinyl for the first time in a decade or more! THE DILLINGER ESCAPE PLAN‘s classic three full-lengths Calculating Infinity, Miss Machine, and Ire Works are all being reprinted on deluxe vinyl in variety of exclusive colors – preorders are available via Relapse Mailorder HERE.
Other releases include Morbid Florist, the 1993 7″ by Massachusetts noise/grind giants ANAL CUNT, which has not been pressed on vinyl in more than twenty years and which will feature a special etching on the B-side of all records. BONGZILLA‘s final full-length Amerijuanican, which has not been pressed on vinyl in over ten years, and DISRUPT‘s landmark 1994 full-length Unrest, which is being re-pressed for the first time in more than eight years, are both being reissued as well. Unrest has also been newly remastered by Brad Boatright (Obituary, Sleep, etc) for the reissue.
All reissues are available for preorder at www.relapse.com.
You can find a complete listing of all releases reissued as a part of Relapse Records’s 25th anniversary celebrations at THIS LOCATION.


text:
In the wake of activist investor Carl Icahn's 9.98% stake in Netflix (NASDAQ:NFLX), the company has adopted a two-tier "poison pill" scheme that deviates from the standard model. The brilliance of this approach is that it will deter Icahn from taking over the company, while ensuring mutual fund demand will not be capped by the same trigger level.
Despite the board's approach, it will not prevent the inevitable: The company's best strategy is to sell itself -- a belief Icahn holds as well. Under management's current strategy, the company's valuation continues to stagnate due to the decline in revenue growth and EBITDA margins. These margins show no signs of improving as subscriber forecasts continue to disappoint. This bleak prospect for the once invincible company will cause a continued slide in shareholder value, similar to the one seen over the past year, and a call for managerial change.
The causes of these problems are twofold. First, Netflix CEO Reed Hastings has been reluctant to step aside, citing that he vehemently believes he can turn the company around. The Silicon Valley giant has a reputation for being a pragmatic genius despite being the person who changed Nexflix's subscription agreement, causing the marketplace to revolt against the company.
Second, shareholders have been anxiously awaiting the company to make a bold move that will address its poor performance in the marketplace. When news of Icahn's large stake in the company became public, investors cheered as the stock price rose dramatically. The reason for this praise is that Netflix has a great brand in a great industry, yet its brilliant CEO is ruining its chances of capitalizing on potential subscribers at such a crucial moment in the industry. With the advent of smartphones and tablets as devices that are as commonly used as televisions and computers, subscribers have been able to access their content in more ways than ever before. Still, Netflix finds itself unable to improve its services to attract new subscribers.
This paradoxical and tenuous situation leaves an amalgamation of potential futures for the company -- all of which leave potential acquirers foaming at the mouth. The list of strategic buyers, however, is not nearly as long as the one for private equity firms. Over the past year, Google (NASDAQ:GOOG) has made a play to enter the online movie space through YouTube. The company, which sees this product line as a potential strong revenue earner in the not-so-distant future, has been working to enter the space for some time. The acquisition of Netflix would be a bold move for both companies. However, it is not the only strategic buyer with a strong interest in Netflix.
The other potential acquirer is Amazon (NASDAQ:AMZN). If Amazon, which already sells movies and television shows by the episode or season, acquired Netflix, it would seal its dominance in this space. This would in turn make all other platforms parochial relics, including Google and its YouTube platform.
Because of the potential upside one would gain from acquiring Netflix, the bidding war between these two companies would push out most private equity groups. However, the usual suspects -- Kohlberg Kravis Roberts (NYSE:KKR), Blackrock (NYSE:BLK), Carlyle (NASDAQ:CG), and Apollo (NASDAQ:APOL) -- will certainly emerge on the vanguard of the bidding war.
Providence Equity Partners, however -- which just sold off its 10% stake in Hulu, a competitor of Netflix, to NBC Universal, News Corporation (NASDAQ:NWS), and Walt Disney Company (NYSE:DIS) -- would likely not be willing to enter the bidding battle. The primary reason is that Hulu underperformed and the firm does not believe there is much demand for the service. I disagree. As cable providers continue to provide poor customer service and limited consumer subscription options at high prices, more consumers will look to alternative sources of movie and television consumption.
Of the private equity firms listed above, all have seen growth in the third quarter from their portfolio companies and are still sitting on capital raised from their investors. However, with Google and Amazon both competing for Netflix, their competition would drive the price so high that the debt repayment structure, even under the best terms, would take up too much of the profits for any private equity firm to deem the investment prudent.
Nevertheless, Netflix's shareholder prospects seem bright. It is a company with a solid brand in a growing market with well-established companies looking to acquire it. The company has shown an incredible ability to grow in the past, and despite poor decisions over the past year the company, under the right management team, has the ability to increase margins to a level that will drive the sell price higher. Moreover, the threat that Icahn would "burn and turn" the company has been removed -- unless he is feeling particularly bold. Netflix's future, despite its poor management recently, is bright.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.


text:
$27 million available for zero-emission trucks in California
Green Car Congress
AUGUST 11, 2020
On 18 August 2020, $27 million in funding will be available in California to replace higher polluting trucks with zero-emission vehicles. This is the first installment from the $90 million available for the Zero-Emission Class 8 Freight and Port Drayage Trucks category and will provide funding to replace freight trucks (including drayage), waste haulers, dump trucks, and concrete mixers.


text:
European customers who pre-order Battlefield 3 from EA’s Origin service will get early access to next month’s multiplayer beta, too. Only the service’s US website had the deal earlier, but now the EU site’s been updated with the offer as well. What’s more, it’s now known that said early access lasts for two days.
“Get into the fight first with a 48hr head start when you pre-order at Origin,” the service’s front page declares.
Still no start dates, however.


text:
What is the circular economy and why is it important? Read on to find out about our circular economy model and how the EU is transforming many companies towards a greener future, using circular economy strategies.
March 2022 saw the EU propose a series of new sustainability rules that could transform how many everyday products are designed, manufactured, and disposed of. These proposals have been drawn up to tackle the over-consumption of a wide variety of goods such as clothing, furniture, and technology and limit the environmental impact of their production and disposal.
Under these proposals, goods sold into the EU would have to meet new standards that require items to contain recycled materials, be easier to repair and recycle and be longer-lasting to be utilised by second and third-hand users. This new framework would significantly reduce the volume of raw materials being mined, the number of new items being manufactured, and the waste generated. The European Commission has also stated that these changes could lower reliance on natural resources claiming that the new framework could lead to “energy savings which correspond to around 150 billion cubic metres of natural gas”.
The new framework is also likely to impact consumer habits as it is set to include more stringent rules around the sustainability information brands have to provide. This new guidance aims to create a circular economy that provides consumers with a clearer understanding of the environmental impact of the products they use to make more informed decisions about the items they invest in.
While these proposals have only recently been announced, this sentiment has been at the core of Shields for over 40 years. Since the company’s inception, Shields has been working towards developing a circular economy within the telecommunications industry, a goal that leaped forward in 2019 with the launch of MarketPlace.
MarketPlace is an innovative cloud-based inventory management platform, and it is revolutionising procurement within the telecommunications industry. This cutting-edge software system offers telecommunications network providers an alternative to purchasing new hardware from the original equipment manufacturer (OEM) by providing a global view of their assets worldwide. MarketPlace then identifies the most efficient source for the product required, making it possible to reuse or refurbish existing equipment internally, thereby reducing the need for additional raw materials, manufacturing, and overseas shipping. This sustainable answer to sourcing is a key step in the sector’s net-zero journey and its move towards creating a circular economy.
A study by Zevero showed that purchasing assets through MarketPlace instead of placing orders with the OEM results in an average carbon saving of 89% per asset. Our further research shows that more than 117 million assets could be purchased from existing surplus equipment each year, which, based on our business insights, represents around 20% of the total assets currently purchased.
By enabling operators to make critical changes to their procurement processes, the MarketPlace platform can help the telecommunication industry lead the way in preparation for any future new regulatory changes. Reuse and recycle is an essential part of our business, and we are delighted that this is set to become a central strategy in other industries around the world.
For more information on Shields’ EcoVadis scorecard or other ESG practices, read our blog here or please contact our specialist teams:


text:
'Sniff test' technology for meat and fish products
Use-by dates and even the good old ‘sniff test’ are currently used by consumers to see if their food is safe to eat. Now researchers based at Imperial College London have developed laboratory prototype sensors costing just two US cents each, which could make these food test methods a thing of the past.
Known as 'paper-based electrical gas sensors' or PEGS, the technology detects spoilage gases such as ammonia and trimethylamine in meat and fish products.
Existing food spoilage sensors are not commonly used because they're either too expensive (often comprising a quarter of overall packaging costs) or too difficult to interpret. Colour-changing sensors could in fact increase food waste as consumers might interpret even the slightest colour change as 'bad food'.
The researchers who developed PEGS made the sensors by printing carbon electrodes onto readily available cellulose paper. The biodegradable materials are eco-friendly and nontoxic, so they don't harm the environment and are safe to use in food packaging. The sensors are combined with near field communication (NFC) tags — a series of microchips that can be read by nearby mobile devices.
During laboratory testing on packaged fish and chicken, PEGS picked up trace amounts of spoilage gases quickly and more accurately than existing sensors, at a fraction of their price.
The researchers say the sensors could also eventually replace the 'use-by' date — a less reliable indicator of freshness and edibility.
Lead author Dr Firat Güder, of Imperial's Department of Bioengineering, said: "Although they're designed to keep us safe, use-by dates can lead to edible food being thrown away. In fact, use-by dates are not completely reliable in terms of safety as people often get sick from foodborne diseases due to poor storage, even when an item is within its use-by.
"Our vision is to use PEGS in food packaging to reduce unnecessary food waste and the resulting plastic pollution."
Features of the PEGS technology include:
- Function effectively at nearly 100% humidity, where most sensors struggle above 90%.
- Work at room temperature and do not need to be heated, so they consume very low amounts of energy.
- Are sensitive only to the gases involved in food spoilage, whereas other sensors can be triggered by non-spoilage gases.
The researchers used ballpoint pens and robotic cutters to create the sensors. Dr Güder said: "We believe our very simple technique could easily be scaled up to produce PEGS on a mass scale by using existing high-volume printing methods such as screen printing and roll-to-roll printing."
The authors hope that PEGS could have applications beyond food processing, like sensing chemicals in agriculture and sensing air quality, and detecting disease markers in breath like those involved in kidney disease. However, before they can be applied beyond their current use, the researchers hope to address how sensitive PEGS are to lower humidity.
Next, the authors hope to expand the usefulness of PEGS by applying them to other types of food and industries. They are currently developing an array of PEGS in which each sensor detects a different chemical. Using this technique, the array will give unique signals for different gases and/or changing humidity, which would make the technology applicable to a wider variety of food types and applications.
Driven by the consumer lifestyle changes, dry food packaging has transformed from essentially...
Recyclable PVC (vinyl) can provide benefits as a food packaging material but re-use presents...
Prawn punnets and crab cling wrap could soon be a reality thanks to a plastic alternative...


text:
When it comes to your money, it's really all personal.
We saw a significant increase in prices in January. The Consumer Price Index (CPI) was up 7.5% year-over-year. Over the month, CPI was up 0.6% from December. Increases in food, electricity and shelter were the largest contributors to the rise in prices. Excluding food and energy, CPI was up 6% over the year and 0.6% over the month. Energy has been the biggest increase over the year, up 27%. This jump in prices also increases the chance of larger than expected action from the Federal Open Market Committee (FOMC). The probability of a 50 basis points increase in March is up to 46%.
The Producer Price Index (PPI) also saw a significant increase in January. Over the month, there was an increase of 1% in producer prices. This is 0.50% higher than expected. This jump contributed to an annual increase of 9.7%. Growth in wages was negatively impacted by inflation in January. Before accounting for inflation, hourly earnings were up 0.7% over the month and 5.7% over the year. There was a marginal increase of real earnings, after the impact of inflation, of 0.1% over the month. Over the year, there was a pretty sharp drop in real earnings of 1.7%. We will likely see increases in wages throughout the year to account for rising price levels.
Retail sales for January were the strongest they have been since March 2021. Sales were up 3.8% from December to January. This blows the expectation of 1.9% out of the water. Growth was led by increases in autos, furniture and building materials. Excluding autos, retail sales were up 3.3%. However, the retail sales number is not adjusted for inflation, therefore higher prices likely contributed to the increase.
Consumers are feeling less optimistic according to The Michigan Sentiment reading of 61.7 for February. This is an 8.2% drop from the previous month. And this is the lowest sentiment has been since November 2011. The decrease in sentiment has been negatively impacted by increasing price levels. There are indications consumers are weary of the impact increasing prices have on their financial situation. The sharpest decrease in sentiment came from households with incomes over $100,000, for this group sentiment is down 16.1%.
News on the Russian/Ukrainian crisis has had adverse effects on markets. The S&P 500 was down 2.40% this week.


text:
Turns out that among the winners of the 2015 White House Science Fair was STEM education itself. This year’s event focused on diversity and included students from under-represented backgrounds who excel in STEM and inspire future generations. As part of the Fair, President Obama made the announcem ... [more]
Redefine your audio production with Avid’s latest Pro Tools 12. Avid Cloud Collaboration, Avid Marketplace, flexible licensing options and content management – it’s all part of the new functionality Pro Tools has included in its recent release. Now more accessible and affordable than ever, Pro ... [more]
Academic Student Software
Educational Software for Students, Teachers, and Schools
Studica has been serving the education market for over 28 years offering Academic Software and Technology Products from top brands such as Adobe, Autodesk, Avid, fischertechnik, GameSalad, National Instruments, Pixologic, Unity, Wacom and many more. Studica offers these great academic software products titles at deep discounts for students, and institutional pricing for teachers, schools and non-profit organizations.
Students and teachers can receive academic software savings up to 80% off retail prices on software brands with educational pricing.
Studica has product offerings for all school levels from K-12 to High School to College, Higher-ed and University and also services the non-profit and institutional sectors. Studica has always been dedicated to the education community and strives to provided great customer service. Not only will you find academic priced software, but you will also find education resources like informative blog articles, ongoing instructional webinar schedules, helpful information for student contest listings.


text:
Google officially announced the Play Store’s Material Theme in August 2019, while a dark mode came that October. Since then, pages like “Manage apps & devices,” settings, and navigation have been significantly revamped. A Material You redesign with Dynamic Color is what’s next for the Google Play Store, and here’s an early look.
CES 2017 August 31, 2021
CES 2017 January 9, 2017
CES 2017 January 7, 2017
One thing that the Google Assistant has that puts other voice assistants to shame is the fact that you can have a contextual conversation with it. With information from previous questions or commands, Assistant can make the conversation feel more natural, but it’s not perfect, especially on certain devices. It looks like the Nvidia Shield will have a leg up on some other Assistant-supported devices, however.
If you’ve been following our coverage this week, you know that CES 2017 has already brought the introduction of countless new phones, laptops, accessories, and more. In the Google realm, that means we’ve seen plenty of new Android phones, Chromebooks, wearables, and more.
But CES is always a matter of finding the diamonds in the rough. There are always some impressive announcements, but the vast majority of things we’ve seen this week have been either mundane or old news. That’s why we’ve done the work for you.
Follow after the break to get a peek at our picks for the best Android, Chrome and Google-related products that debuted at this year’s Consumer Electronics Show…
CES 2017 January 6, 2017
ZTE took to the stage at CES 2017 to announce two new devices coming to the US market. The first is a phone we’ve seen previously released in Asia, Europe, and Mexico and that is the Blade V8 Pro. The second is a device that ZTE crowdsourced called the Hawkeye. Both devices are fairly inexpensive and come unlocked — but are either of them worth your time?
Update 1/9: TP-Link has reached out to clarify that Google Home integration is expected in Q2 of 2017, not February.
Google Home’s portfolio of supported products has slowly been growing since its release, but several major players still aren’t supported. That’s soon to change, though, with the addition of Actions on Google. Today at CES 2017, we were able to confirm that TP-Link products will be supported by Google Home in the coming weeks, and got a chance to see them in action…
Cute thermal printer turns your smartphone content into Post-It-style sticky notes
CES 2017 January 5, 2017
Last year, Google announced that many upcoming Android devices would support the Daydream VR platform. At CES, Asus announced the Daydream-ready ZenFone AR and ZTE noted that support was coming to the Axon 7 with Nougat. Today, Google announced the addition of Huawei’s Mate 9 and Mate 9 Pro, as well as the first third-party Daydream viewer.
JVC, Pioneer, Alpine & Kenwood announce new aftermarket Android Auto in-dash units
CES 2017 has officially kicked into full gear ahead of the show opening to the public this weekend, and today we get a look at the latest aftermarket in-dash entertainment systems that support the Android Auto platform. Announcements at the show include new products from JVC, Kenwood, Pioneer, and Alpine. Head below for all the details.
T-Mobile’s CEO John Legere took the stage at CES 2017 today to share the latest Uncarrier news. T-Mobile has announced they are going “All in” on their T-Mobile ONE plans. This means that starting on January 22, new customers will only be able to choose the ONE plan. Additionally, the carrier will be including all fees and taxes into the price of your T-Mobile ONE plan.
Xiaomi reveals white variant of its Mi Mix ceramic-bodied smartphone
iHeartRadio integration with Google Home is coming ‘soon’
Google Home is one of our favorite products of 2016, and as we go into 2017, we’re only expecting it to get better. That includes integrations with more new services, such as popular radio streaming service iHeartRadio, which has announced that it will be coming to Google Home.
Google’s Chromecast is one of the most popular products the company makes, as well as being one of our personal favorites. The simple and easy experience of casting content from your device is smooth and fun, but in some cases, it’s nice to use the features built-in to your TV.
This week at CES 2017, ASUS has unveiled two new Android smartphones — the ASUS Zenfone AR and the ASUS Zenfone 3 Zoom. Following the company’s press conference, we had the opportunity to try out the company’s latest devices and so far, they may potentially be the best of CES this year.
A company you’ve probably never heard of, Mighty Cast, has today announced a pair of interesting new wearable devices at CES 2017. The Nex Evolution doesn’t have a full display, but rather opts for five small tappable buttons called “Mods” that can be customized to do almost anything using the companion app and light up to provide phone notifications. And the second device is being made in partnership with Niantic for Ingress, the sibling of the wildly popular Pokemon Go game.
CES 2017 January 4, 2017
Already available on the Pixel and Home, Google Assistant will soon come to Android TV. A new SHIELD TV shown off at NVIDIA’s CES event was the first device to demo these capabilities, but the Assistant will come to most current set-top boxes and television sets running Android.
At CES 2017, ZTE provided updates on when Android 7.0 Nougat would arrive for the well regarded Axon 7 and more details about their bid to crowdsource a smartphone. The company also launched the affordable dual-camera Blade V8 Pro in the US market.
Hulu sets itself apart from DirecTV Now as it secures CBS for upcoming live TV service
Hulu announced today that it has signed a new agreement with CBS to carry content from America’s most-watched broadcast network including both on-demand and live programming. This news comes about a month after DirecTV Now launched without the major network, although CBS CEO Les Moonves has alluded that they’ll be able to figure something out.
Casio’s ultra-rugged WSD-F20 is the first new Android Wear 2.0 smartwatch, available in April
With the WSD-F10 last CES, Casio started the wave of rugged smartwatches running Android Wear. This year, the company is releasing a successor (via Digital Trends, now pulled) with minor design tweaks, a new low-power GPS sensor, and more offline functionality. More importantly, the WSD-F20 will run Android Wear 2.0 when it’s released in April.
It’s been an interesting ride for BlackBerry over the years as the company has moved out of the public spotlight over the past several years. Last month TCL announced a new partnership to build BlackBerry phones, and at a closed press event at CES 2017, the company has now revealed what is in store for BlackBerry, including giving us an early look at some unreleased hardware.
Ford, Toyota, and more form alliance to prevent Google and Apple from taking over the in-car experience
A report from Bloomberg today takes note that Ford and Toyota have joined forces with four other automakers and some electronics suppliers to form the SmartDeviceLink Consortium. The alliance has shared its main goal of creating more choice for connecting smartphones with vehicles, which in turn could create some friction with Google, Apple, and their visions for integrating and controlling the user interface inside of cars.
Honor promises Android Nougat for the Honor 6X within the next couple of months
At CES 2017 Honor announced the 6X which is the company’s budget device that features mid-tier specs and a $249 price tag. Unfortunately, though, the public’s first reaction to the phone was rather negative mainly because of several aspects of the handset that are a bit outdated. The biggest of which is the fact that Honor is shipping the 6X to customers still running Android 6.0 Marshmallow. Thankfully, Honor does promise to update the phone to Nougat (EMUI 5.0) sometime in the second quarter…
CES 2017 January 3, 2017
At CES 2017, Honor announced its latest budget-friendly device — the Honor 6X. This phone is the successor to last year’s 5X and brings with it some features like a dual-camera setup as seen previously on the Honor 8. While it does share some similarities, the Honor 6X is lacking in specs, software, and hardware…
Last year Honor helped change the game in terms of hardware on budget devices with the Honor 5X, but it wasn’t a perfect device. It lacked a bit in terms of specifications, and the pre-loaded software didn’t help matters. Now, Honor is bringing the successor to that device, the Honor 6X, to the United States.
With one of the first keynotes of CES 2017, Qualcomm has officially launched the Snapdragon 835. Slated for this year’s wave of Android devices, users can expect a 20% jump in various CPU tasks, increased energy efficiency, and support for Quick Charge 4.0.
Nest Protect now integrates with GE appliances to detect cooking fires and shut off
First released in 2014, with a second generation available a year later, the Nest Protect is a smart fire alarm that works well with an ecosystem of third-party smart home devices. At CES 2017, GE announced a new integration that allows Nest Protect to detect fires in appliances, take measures, and quickly alert homeowners.
Acer debuts the education-focused rugged Chromebook N7 at CES 2017
CES 2017 is going into full swing this week, and at the show we’re expecting quite a few exciting new product announcements. To help kick things off, Acer has just debuted a brand new Chromebook, the Chromebook N7.
Last year, Android TV came to Italy in form of a digital decoder from internet VOD provider TIMvision. At CES 2017, Dish TV is using Google’s large screened OS to to power the AirTV Player, a single streaming device that combines local over-the-air channels, on-demand streaming, and other internet video services.
Three months ago Blackberry announced that it would be no longer making their own hardware. This meant that TCL Communications would be producing future Blackberry handsets. A month later, the company’s CEO went on the record to state that they had one more device coming out “soon” that would feature a keyboard.
Images of this upcoming device codenamed “Mercury” leaked several weeks ago and now Blackberry is teasing us with a 4-second video of the phone ahead of its announcement at CES 2017… expand full story
CES 2017 January 2, 2017
Qualcomm has inadvertently published a press release today about the yet-to-be-announced ASUS ZenFone AR. Billed as the world’s first device to be both Tango-enabled and Daydream-ready, it is powered by the Snapdragon 821.
This follows a leak yesterday that revealed the majority of specs and performance details for the forthcoming Snapdragon 835, and a tweet earlier today from ASUS suggesting that it will launch a phone with the new SoC…
We already know that ASUS has a smartphone or two planned for CES this week, but now — just a couple days before its scheduled press event — the Taiwanese company has come out with a tweet suggesting that at least one device will be powered by Qualcomm’s new Snapdragon 835. That chipset is also expected to be fully detailed in an announcement this week.
CES 2017 January 1, 2017
Believe it or not, CES 2017 is just two days away. As we prepare to hit the show floor and bring you coverage of all the latest products, it’s also a good time to take a look at what we can probably expect to see related to Android and Chrome OS products we’ll probably be seeing at the show.


text:
We’re pleased to announce that D-Tools System Integrator 4.5 (SI 4.5) has been named Best Installation Product as part of The Consumer Electronics Association (CEA®) 2006 Mark of Excellence Awards. The awards were presented by CEA’s TechHome Division and announced at an awards banquet on Friday, March 31, 2006 at the Rosen Centre Hotel, during the Electronic House Expo Spring 2006 (EHX).
CEA’s Mark of Excellence Awards recognize the top achievements in industry-leading custom electronics products, services and installations – setting the trends in the ever-changing home automation industry. Award entries are submitted in four categories – Supplier, System Integrator, System Integrator of the Year and Training/Support – and are reviewed by a panel of industry experts.
“We’re proud to have won the Mark of Excellence award for Best Installation Product for the third year in a row,” said Adam Stone, President and CEO of D-Tools. “We’ve built our business around a single objective – to help our customers become more successful through the use of our software. That singular focus is what motivates us to continue to improve our software and ensure that our customers have a reliable, scalable business platform on which to grow their business.”


text:
The skateboarder who filmed himself skating and drinking Cran-Raspberry juice while listening to Fleetwood Mac’s ‘Dreams’ has received a brand new cranberry-red truck – complete with lots of juice – courtesy of his favourite beverage company.
Idaho skateboarder Nathan Apodaca, also known as @420doggface208 on TikTok, went viral after posting the wholesome video which has since seen countless re-creations, including from Fleetwood Mac rocker himself, Mick Fleetwood, who joined the video-sharing platform just to get in on the trend.
Now, the CEO of Ocean Spray – the company that creates Apodaca’s drink of choice – has also recreated the now-famous clip, with the company even taking it one step further by delivering a brand new truck that was chock-a-block with Cran-Raspberry juice to Nathan as a way to say “thanks”.
A rep from Ocean Spray showed up at Apodaca’s trailer in Idaho on Tuesday to drop off a truckload of cranberry juice to the skateboarder, while informing the viral star know that he gets to keep the truck too.
“Thanks for keeping it positive,” the rep told Apodaca.
Since being catapulted into stardom for his fabulously chill vid, Nathan revealed he had been hoping to save up for a new RV that has running water and has now received over $13,000 in donations according to TMZ.
Expressing his thanks for fans’ generosity with their donations, Nathan wrote via Twitter:
Love Classic Rock?
Get the latest Classic Rock news, features, updates and giveaways straight to your inbox Learn more
“I just want to say thanks to everybody that’s showing love and support that video with the RV was a while ago I bought it when I saved up $1000 I am still in The RV but I am in front of my brothers so now I have a place to shower and💩(not in that order)BONG!! Mucho thank yous 🖖🏼”
Positive vibes, indeed!


text:
It seems California Requires More Energy-Efficient TVs:
California regulators have adopted the first energy-efficiency standards for televisions in the U.S., a move that will eventually ban power-hungry sets from the state's store shelves. [P itxtvisited="1" _extended="true"]Wednesday's action by the California Energy Commission could lead the way in a general reform of standards for an industry increasingly focused on wide-view, flat-screen, high-definition sets.
[P itxtvisited="1" _extended="true"]The average plasma TV uses more than three times as much energy as an old cathode-ray tube set. Liquid-crystal display, or LCD, TVs use about 43 percent more energy than tube sets, according to Pacific Gas & Electric Co., the state's biggest utility. LCDs now account for about 90 percent of the 4 million TVs sold in California each year.
[P itxtvisited="1" _extended="true"]Under the rules adopted Wednesday, all new 42-inch TV sets must use less than 183 watts by 2011 and less than 116 watts by 2013.
[P itxtvisited="1" _extended="true"]That is considerably more efficient than flat-screen TVs placed on the market in recent years. A 42-inch Hitachi plasma TV sold in 2007 uses 313 watts, while a 42-inch Sharp Liquid-crystal display, or LCD, TV draws 232 watts, according to the Energy Commission.
[P itxtvisited="1" _extended="true"][A href="http://www.discovervancouver.com/forum/california-will-ban-sale-plasma-t363025.html"][/A]


text:
WASHINGTON — Two years after Congress approved funding, U.S. Customs & Border Protection has just hung out the “for hire” sign for 72 textile specialists and investigators to fight violations such as transshipments.
Homeland Security Secretary Michael Chertoff, trying to ease lawmakers’ concerns, said in a letter to Rep. Robin Hayes (R., N.C.) that by the end of 2006 the agency expects to fill all of the positions, which will include at least 17 overseas posts and a “large number” of import specialists, audit, analytic and investigative staff.
“I agree that textile transshipment is a difficult problem that requires continued focus of our enforcement efforts,” Chertoff wrote in the letter dated May 3. “We have devoted a significant amount of the department’s agent and specialist manpower on textile enforcement (more than 280 full-time equivalent employees this year) with spending in excess of $23 million.”
Chertoff, who took over from Tom Ridge on Feb. 15, did not address why there was such a long delay in the hiring process.
He did point to an increase in overall enforcement activities of 346 percent in 2004 compared with 2003, an increase of 67 percent in sites visited, with 764 more textile manufacturers reviewed.
Hayes, Rep. Sue Myrick (R., N.C.) and Sen. Elizabeth Dole (R., N.C.) sent letters to Customs officials and Chertoff inquiring about allegations that the department failed to properly allocate $9.5 million in congressionally approved funding to hire the 72 textile specialists and investigators.
Funding for the additional personnel at the Textile Enforcement Division was provided in the fiscal year 2004 and 2005 Homeland Security appropriations bills.
“I have to acknowledge that some progress is finally being made, but I’m disappointed in the timetable,” Hayes said in an interview. “I understand Chertoff inherited this and there will be time lost in the transition from one secretary to another, but that doesn’t change the perilous nature of the position we find ourselves in.”
Hayes said he plans to hold follow-up discussions with the agency to inquire whether experienced and trained Customs people can be shifted from other areas into the textile enforcement area, which might speed up the process.Dole said in a statement: “While I’m heartened the administration is finally moving forward on this, it is my fervent hope that it will proceed expeditiously and complete this hiring ahead of schedule.”
The domestic textile industry, which initially raised the concerns with lawmakers, said Chertoff’s letter left many questions unanswered.
“I am troubled by the letter because it is short on specifics in regard to how many [textile investigators] they are going to actually hire this year and what the timing is,” said Auggie Tantillo, executive director of the American Manufacturing Trade Action Coalition. “Why does the industry have to wait another year-and-a-half to get something done that Congress appropriated over a year ago? It clearly shows this is not a priority.”
Tantillo said he is still seeking information on how many shipments were seized last year, the number of companies that were fined, the total amount of penalties assessed and the percentage of imports, which totaled $83 billion last year, which were actually inspected.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye


text:
Skip to content
he Sichuan-Tibet Railway, the second railway line linking the Tibet autonomous region to other parts of China, will opera
te high-speed trains with a designed running speed of 200 kilometers per hour, thecover.cn reported.
China Railway Eryuan Engineering Group Co Ltd, which is designing the line, revealed a draft plan on Wednesday that tra
ins on the whole Sichuan-Tibet line will travel with a designated speed of 200 km/h, with some segments limited to 160 km/h.
The 1,600-kilometer-long line under construction is designed to start from Chengdu, pass through Ya’an and Kan
gding, then enter Tibet via Qamdo and end at Lhasa. The 140-kilometer Chengdu-Ya’an high-speed railway, whic
h serves part of the Sichuan-Tibet Railway, started operation last year with a maximum speed of 200 km/h.
After a disappointing performance in 2018, China’s economy appears to be stabiliz
ing. In the first quarter of 2019, GDP growth, at 6.4 percent year-on-year, matched that of the previous quarter. But grow
th in industrial production exceeded expectations, expanding by 6.5 percent year-on-year (and by 8.5 percent in Mar
ch). Even exports growth was positive, albeit weak, despite the ongoing trade frictions with the United States.
Moreover, fixed-asset investment (FAI) grew by 6.3 percent－0.2 percentage points higher than in the previous quar
ter. Investment in real estate grew the fastest (11.8 percent), followed by manufacturing (4.6 percent) and in
frastructure (4.4 percent). The growth of investment both in real estate and infrastru
cture was stronger not only sequentially, but also year-on-year. As usual, consumption growth was stable.
No need for dogs, cats to go through quarantine if they meet set conditions
Pets owners no longer need to be separated from their beloved dogs or cats when they ar
rive in China from overseas if they meet certain conditions, under a regulation that took effect on May 1.
Dogs or cats with valid electronic chips arriving from 19 designated c
ountries or regions no longer have to undergo weeklong quarantines if they pass on-site inspe
ctions at ports of entry, according to the regulation released by the General Administration of Customs earlier this year.
The designated countries and regions are New Zealand, Australia, Fiji, French Polynesia, Hawaii and Guam of the Unite
d States, Jamaica, Iceland, the United Kingdom, Ireland, Liechtenstein, Cyprus, Portugal, Sweden, Switzerland, J
apan and Singapore, as well as China’s Hong Kong and Macao special administrative regions.
The ongoing International Horticultural Exhibition 2019 in Beijing is all about gar
dening, but it doesn’t shy away from high technology that improves visitors’ experience.
To provide visitors with information services, ticket purchasing, parking, travel routes, introductions to scenic sp
ots, medical services, performance arrangements and traveling tips, a mobile phone app called Expo 2019 was developed.
It’s like having a tour guide at hand, said Guo Ziliang, an official at the Beijing World Horticultural Expo Coordination Bureau, the expo’s organizer.
“The app shows people how to conveniently and efficiently make their way through the park,” he said. “It also helps improve the park’s reception capacity.”
The 162-day expo, from April 29 to Oct 7, is expected to receive a total of 16 million visitors.
The app, available in bilingual versions-English and Chinese-can be downloaded for free from online app stores.


text:
Japanese Firm Unveils Smart Face Mask That Connects To Phones
A Japanese startup has designed and released a new smart face mask that connects to phones, lets users make calls remotely, and can amplify the wearer’s voice in case they can’t be heard clearly through the mask. The mask can also send messages via speech. The company behind the new technology, Donut Robotics, states that it’s a way to remain connected during the global pandemic while allowing users to refrain from touching their phones excessively.
The technology, called the C-Mask, fits over standard fabric masks and connects via Bluetooth to an app that enables it to transcribe speech to text messages. These texts are then sent through the user’s smartphone. The mask technology can also translate from Japanese into eight other languages.


text:
The community is gathering to kick-off the holiday season and raise money for an important cause. Friday, Nov.20, starts the two-day MeritCare Foundation's Festival of Wreaths celebration. This 25th anniversary event will fill the Ramada Plaza Suites Crystal Ballroom in Fargo with the smells, sounds and ambiance of the holiday season.
The community is gathering to kick-off the holiday season and raise money for an important cause. Friday, Nov.20, starts the two-day MeritCare Foundation's Festival of Wreaths celebration. This 25th anniversary event will fill the Ramada Plaza Suites Crystal Ballroom in Fargo with the smells, sounds and ambiance of the holiday season. Events include shopping, English Tea at Three, Girls' Night Out, breakfast and lunch events with Santa, a formal gala and more.
Proceeds from this year's event will be used by MeritCare Roger Maris Cancer Center to fund embrace – a survivorship program
that helps cancer survivors thrive by connecting survivors with each other through support groups, classes and online chat rooms, where patients facing cancer can find hope within each other. Embrace also empowers survivors to heal through a comprehensive survivorship clinic, volunteer opportunities and survivor events. The program also educates survivors and caregivers about resources available through an interactive Web site and survivor binder.
Festival of Wreaths is open to the public, although reservations are required for all events. Tickets/reservations are available by calling the MeritCare Foundation at (701) 234-6190 or (800) 437-4010, ext. 6190, weekdays from 10 a.m.-4 p.m or by visiting festivalofwreaths.meritcare.com.
Following is the line-up of this year's events:
- Open House Shopping Extravaganza, Friday, Nov. 20, 10 a.m.-6 p.m. and Saturday, Nov. 21, 10 a.m.-4 p.m. Early shoppers receive a 15 percent discount at MeritCare Gifts' Holiday Shop on Friday from 10 a.m.-3 p.m.
- Shops: Alpine Village features miniature trees and gingerbread houses created by local chefs and artists. The MeritCare Gifts' Holiday Shop is filled with an assortment of decorations and other holiday-related items. A quick lunch is available on Friday from 11 a.m.-2 p.m.
- A silent auction is available throughout the weekend festivities.
- English Tea at Three, Friday, Nov. 20, 3-4:30 p.m. Tickets: $25, reservations required. An afternoon social to include a traditional English tea experience as presented by the British Club of Fargo-Moorhead.
- Girls' Night Out, Friday, Nov. 20, 6:30 p.m. Tickets: $35, reservations required. This event includes a style show, wine, hors d'oeuvres, entertainment and shopping.
- Breakfast or Pizza with Santa, Saturday, Nov. 21, 9 a.m. or 12:30 p.m. Tickets: $15 adults, $12 children 10 and under. Reservations required. Children have the opportunity to dine with Santa, sing songs and receive a gift bag.
- Gala, Saturday, Nov. 21, 6:30 p.m. social, 8 p.m. dinner. Tickets: $100 per person, reservations required. A gourmet dinner followed by an exciting, live auction filled with unique holiday items.


text:
Two of the country’s quick service restaurants
(QSRs) — Jubilant FoodWorks and Westlife Development — have reported single-digit same-store sales growth (SSG) for the June quarter (Q1). This is the second straight quarter they are seeing a decline in sales when compared with the year-ago period.
It was in Q4 that the two listed players, who run Domino's and McDonald’s stores in India, respectively, first saw single-digit SSG in the 5-6 per cent range after five quarters of double-digit growth. SSG is sales growth of stores one year and above, and is a crucial metric tracked by analysts as it gives a clearer picture of top line growth.
In Q1, Jubilant's SSG stood at 4.1 per cent, its lowest in seven quarters, while Westlife's SSG stood at 6.7 per cent. In Q4, Westlife’s SSG was 5.6 per cent, while Jubilant’s was 6 per cent.
“Against a compounding base, it will be difficult to have double-digit SSG every quarter," said Amit Jatia, vice-chairman, Westlife. “In the year-ago period, the SSG base was high (at 24.1 per cent). So, the SSG number now (Q1) will be lower when compared to the corresponding period last year. Sequentially, we are slightly better than the 5.6 per cent SSG number reported in Q4. In an environment where consumer sentiment is down, I see this as a good performance.”
In Jubilant’s case, too, the high-base effect has kicked in during the period under review. In Q1 FY19, Jubilant's SSG was 25.9 per cent, impacting the SSG number for the period under review, executives said. "Apart from a high base, Jubilant also faced pressure in the dine-in segment. This is a consequence of the discounting by food aggregators. Plus, a pullback in terms of discretionary spends by consumers is resulting in eating-out as a trend taking a hit," said Abneesh Roy, senior vice-president, research (institutional equities), Edelweiss.
But the firms had good news
too. Online deliveries as a percentage of overall delivery sales was in the 80-81 per cent range in Q1, higher than the 60-65 per cent number the players reported a year ago. “Online sales continue to be strong and our mobile app saw record downloads in Q1,” Pratik Pota, chief executive and whole-time director, Jubilant, said.
Westlife, too, has been investing in digital initiatives, said Jatia. “QSRs will have to go where consumers are. We ran multiple value campaigns on our McDonald’s app during the quarter to increase downloads and this effort will continue.”
Both players also continue to focus on launching new stores. Jubilant launched 22 Domino’s stores in Q1, while Westlife launched four McDonald’s stores during the quarter. For FY20, Westlife hopes to launch around 25-30 stores, while Jubilant is targeting around 90 Domino’s stores. Jubilant is also looking to launch a total of 10 Hong’s Kitchen outlets for FY20 after first foraying into the space (Chinese cuisine) in Q4.


text:
WASHINGTON — For much of the past decade, the economic relationship between the United States and China was like a bartender and his favorite patron.
American consumers knocked back flat-panel TVs, laptops and assorted other made-in-China products while Beijing rang up the charges, extending more and more credit so the customer could keep drinking.
On paper, the Chinese accumulated hundreds of billions of U.S. dollars. China lent much of it back to Americans to help finance ever-higher consumer borrowing, as well as federal deficits and cheap mortgages.
It was a mutually beneficial arrangement — until the morning after, when bartender and customer blamed each other for a doozy of a hangover.
With the Great Recession putting that mountain of American debt in a new, unsettling light, the two countries are eyeing each other with growing resentment — each showering the other with unwelcome demands for policy changes.
The tensions are being aggravated by domestic politics in both countries.
“The proverbial train wreck may be coming to pass,” said Nicholas Lardy, a prominent China expert at the Peterson Institute for International Economics in Washington.
Chinese officials have begun to warn that if Washington doesn’t curb its deficits and stop badgering China to make concessions on currency and export policies, Beijing might begin dumping dollars. Or it might cut back on the massive buying of Treasury bonds that Washington depends on to finance its deficit. Such a response could inflict economic pain on millions of Americans, costing jobs and hurting the recovery, some economists say.
But China is over a barrel too. If Beijing tightened the screws, the value of the dollar would decline. The value of China’s holdings would shrink as well, as would Americans’ consumption of Chinese products. Even with the recession, U.S. imports from China amounted to a whopping $296 billion last year while exports to China were just $70 billion, according to U.S. data.
Beijing has no ready replacement for the United States as its biggest customer. And years of growth and prosperity have created popular expectations in China that the ruling hierarchy cannot easily ignore — especially the opinions of its increasingly vocal business community and middle class.
But right now, the historic drama is playing out in an arcane argument over currency exchange rates — the value of the Chinese yuan versus the U.S. dollar.
Scores of U.S. lawmakers have demanded that China strengthen its currency so its goods wouldn’t be so cheap in the United States and other foreign markets. Raising the value of the yuan also could encourage China to buy more American products.
“The silence of our government on China’s currency manipulation has become the silence of our factories,” said Sen. Olympia Snowe, R-Maine, a senior member of the Senate Finance Committee.
She and other members of Congress are pushing the Treasury Department to label China a currency manipulator in its next review, due April 15, which could lead to tariffs on Chinese goods.
Outside Congress, leading free-trade proponents, including Nobel Prize-winning economist Paul Krugman, have joined labor leaders such as Leo W. Gerard, international president of the United Steelworkers union, in denouncing Beijing’s refusal to act.
Twice in the past two months, President Barack Obama has called on the Chinese to act on their currency. Each time he got a sharp, negative response. In part that might have been Beijing’s instinctive reaction against being told what to do, but that’s far from the only reason.
“For the Chinese government, it’s not only about losing face and confidence, it’s also about the economy,” said Zhou Shijian, a senior research fellow at the Center for U.S.-China relations at Tsinghua University who cited a 16 percent drop in Chinese exports last year. “Appreciating the yuan will impact the economy and social stability, not just face.”


text:
Family Dollar Stores Inc. will close 370 stores, slow new-store growth and take other strategic actions as its earnings continue to falter.
Family Dollar did not specify which stores would close. The North Carolina-based discount retailer operates about 8,100 stores in 46 states, including about 30 stores in Greater Baltimore, according to its website. It has about 34,000 employees.
Family Dollar (NYSE:FDO) on Thursday said its net income fell 35 percent to $90.9 million, or 80 cents per diluted share, for the second fiscal quarter ended March 1. In the same period last year, the company earned $140.1 million, or $1.21 per diluted share. Family Dollar notes the latest quarter included 13 weeks, compared with 14 weeks a year earlier. It estimates net income a year ago would have totaled $132 million if the extra week were excluded.
Revenue in the latest quarter fell to $2.7 billion, down from $2.9 billion a year earlier. The company estimates the extra week in last year's second quarter contributed about $189 million in sales.
“Notwithstanding the macro-economic pressure, competitive environment and severe weather, we are not satisfied with our results, and we hold ourselves accountable for improving our performance,” CEO Howard Levine said in a statement. “To that end, we have initiated an in-depth business review to identify opportunities to strengthen our value proposition, increase operational efficiencies and improve financial performance.”
Family Dollar intends to take what it describes as “immediate, strategic actions," Levine said.
In addition to store closings, Family Dollar plans to slow new-store growth beginning in fiscal 2015, with plans to open between 350 and 400 stores. That’s down from 525 stores this fiscal year. In fiscal 2013, Family Dollar opened 244 stores, closed 22 and renovated, relocated or expanded 319.
The company says slowing new-store growth should improve its returns on investment by focusing on location, competitive dynamic and cost structure. Family Dollar also will lower prices on roughly 1,000 basic items, Levine said.
Family Dollar says adverse winter weather accounted for a negative impact of at least 5 cents of earnings per diluted share. It cites numerous weather-related store closings, disrupted deliveries and higher-than-expected expenses for utilities and store maintenance.
Last week, the retailer announced it had cut 135 jobs at its headquarters — or roughly 6 percent of the corporate facility's 2,400-employee work force in Matthews, N.C. At the time, the discount retailer said it was “taking decisive action to better position the (company) to succeed in an adverse operating environment.”


text:
Table of Contents
News in a Glimpse:
- As US prosecutors focus on Binance and its executives and the Department of Justice and Binance’s lawyers have already discussed potential plea agreements, the company and its executives may be subject to money laundering and violation sanctions.
- A few altcoins were allegedly trading on the aforementioned crypto exchange platform in an “abnormal” way, according to reports that Binance also received.
The biggest cryptocurrency exchange platform, Binance and its executives may be charged with money laundering and violation sanctions as US prosecutors begin to set their eyes on them. Additionally, the Department of Justice and Binance’s attorneys have already spoken about potential plea agreements.
The fact that Binance is being looked into is not particularly new; the U.S. looked into the biggest cryptocurrency exchange platform back in 2018. Due to a string of incidents where criminals used Binance to transfer illicit funds, the Seattle Attorney’s Office was notified.
According to the report, there has been disagreement over whether or not to bring charges against the biggest cryptocurrency exchange platform because prosecutors think more evidence is required.
Binance denied these claims of potential money laundering and sanctions violations. In which Tigran Gambaryan, the exchange’s Global Head of Intelligence and Investigations, asserted that since November 2021, the relevant cryptocurrency exchange platform had already complied with over 47,000 requests from law enforcement.
Gambaryan added that regulators are examining every cryptocurrency company in light of many of the same problems. Then he discussed how the cryptocurrency sector has expanded and how Binance has continued to demonstrate its dedication to security and compliance by making significant investments in both its team and the equipment and software it uses to spot and prevent illegal activity.
The spokesperson for Binance also emphasized that the company has been hiring more than 500% more people in security and compliance. He then asserted that the team behind the exchange platform is “perhaps even the strongest in the entire financial sector.”
Bitcoin Acknowledged Abnormalities in its Platform
Another problem that affects the biggest cryptocurrency exchange platform has emerged in the wake of reports that Binance may be subject to money laundering and violation sanctions. Several reports surfaced last Sunday claiming that a few altcoins were purportedly trading on the aforementioned crypto exchange platform in an “abnormal” manner.
The platform immediately acknowledged the report, asserted that they would look into it, and promised to take action against “suspicious accounts”; however, shortly after, Changpeng Zhao, the CEO of the said platform, stated that the anomalies seen in the price movement appeared to be “just market behavior.”
He expanded on that claim by saying that one account had put money into a trading account, started buying up specific coins, and that other accounts had done the same. The CEO went on to say that because of the “abnormalities” that occurred, the platform temporarily restricted accounts. The aforementioned restriction prevents users from temporarily withdrawing their money.
This initial action was reversed as soon as the cryptocurrency exchange platform came under fire on social media from users in various nations. Given the circumstances, the platform’s CEO tweeted to acknowledge the reality of “too much intervention” in sustaining an exchange that operates in a sector where decentralization is a key concept. He went on to say that there should be a balance between the right amount of intervention and the times when it’s worthwhile to let similar situations “play out.”
According to a different report, Binance has determined that the alleged “abnormalities” were not caused by stolen API keys or compromised customer accounts. Additionally, the relevant cryptocurrency exchange platform has promised to update users if new pertinent details come to light.
This clarification was made public in response to a user of Binances who had their account suspended expressing concern over an API key leak on the intermediary trading platform 3Commas. They lost their money as a result of the aforementioned incident.
According to reports, the Binance CEO himself tweeted back and forth with the aforementioned user, who uses the handle CoinMamba, regarding the allegedly missing funds. Where CoinMamba expressed his desire for a refund while also emphasizing his displeasure with the lack of prompt action.
The CEO of Binance then reacted, saying that the current circumstances do not warrant a refund. The CEO continued by highlighting the significance of keeping their API key secure. The CEO of Binance expressed interest in limiting CoinMamba’s account and 3Commas in a tweet that has since been deleted, stating that each platform doesn’t “want to service people that are being unreasonable.”
Moments later, CoinMamba claimed that his account had been terminated and blamed it on the comments he had made on Twitter. The customer support team at Binance clarified in response to the aforementioned claim that the user’s account had been set to “withdrawal only mode” as a result of the alleged “threats” the user had made.
Regarding the issue of an attack on their platform and API keys, 3Commas also issued a statement. In the aforementioned statement, they urged the affected users to contact the police as soon as possible so that their funds could be frozen and possibly recovered.
Additionally, the aforementioned platform has warned users to watch out for phishing scams. Additionally, they have used Twitter to complain about “bad faith actors” who they claim are leaking users’ API keys and spreading “false rumors” online. They also added that the rumors in question were based on fake screenshots.


text:
The world awoke to a shock this morning when Tesla CEO Elon Musk offered to buy Twitter for $43 billion. How convenient is that for an executive whose car company has recalled over 594,000 cars this very morning? Anyway, there are a hell of a lot of ways to spend $43 billion, from fixing the water supply in Flint, Michigan to taking on the U.S. housing crisis. But this is a whimsical guy we're talking about, a man who sent his car to space and made others fart their way from zero to 60 mph in two seconds. He can use his fortune however he wishes, and given his goal of replacing all internal combustion cars with electric vehicles, we wondered: could Elon Musk buy every Toyota Camry on the planet?
According to our admittedly rough math, yep, he totally could.
To prove this, we need to estimate how many Toyota Camrys are out there today and their approximate average market value. Spitballing will be the order of the day, as the necessary data simply doesn't exist or would take weeks to compile, so I'm going to make a few educated estimates that I don't think you'll object to.
First off, the Camry count. Toyota built its 10 millionth Camry last July, having previously passed three million in 2000, meaning it has built an average of about 318,000 Camrys in each year of the new millennium. It stands to reason that pace has slowed with the rise of crossovers, so it feels a safe assumption that Toyota has built only around 200,000 since July, for a running total of 10.2 million Camrys. That's all of them built worldwide—US sales numbers aren't enough here—since 1982, when the Camry became a standalone model and not just a trim of the Celica.
Obviously, many of those Camrys haven't made it to 2022, the majority of the older ones having rusted away, been crashed, jumped over highways, or broken down beyond repair over decades of use. Aggregated international registration data isn't available, but it seems a fair assumption that five percent of those built before 2000 remain—so, 150,000 cars. Camrys built since then should still be on the road (if they're properly cared for, at least), but crashes and poor maintenance happen, taking a fair number out of service before their time. Let's assume 65 percent of those newer 7.2 million remain, or 4.68 million, which combines with older cars comes to a total of 4.83 million.
With $43 billion to spend, Musk would need to secure every Camry built from 1982 to 2022 (happy 40th!) for an average of $8,903 apiece. Three years ago, when one could find reliable transportation for only a few grand, that might've been feasible, as long as we agree to pretend one dude buying up every Toyota Camry in existence wouldn't do weird things to their value. But COVID-19 shifted the world's course, disrupting supply chains and pinching the supply of new cars, which in turn strained the used market and drove up prices. As a result, the price for any Camry, used or new, has averaged $21,162 in 2022 according to iSeeCars. At that price, Musk's $43 billion could only buy two million of the world's estimated 4.83 million Camrys—though that'd still make him the world's biggest Toyota collector, among other things.
If Musk were willing to shed a few dozen more of his $265 billion, he could still buy them all, and after all, what's money to a man who gave up all his private possessions to live in a shack, and dedicate his life to bettering the world? Wait, you mean he still regularly buzzes around on his private jet? And tried to buy the silence of the Twitter account that tracks his travels? Huh. Maybe that explains why he's trying to buy Twitter. Can't tweet unflattering things about Elon Musk if you can't tweet at all, can you?
Got a tip or question for the author? You can reach them here: email@example.com


text:
By Scott Murdoch
HONG KONG (Reuters) – Chinese healthcare services firm Alibaba Health Information Technology (HK:) has raised nearly $1.3 billion in Hong Kong’s largest follow-on share sale in five years, according a statement from the company on Wednesday.
The company will issue 499 million new shares priced at $HK20.05 apiece, an 8% discount to the stock’s HK$21.80 closing price on the Hong Kong exchange on Tuesday.
The final price was at the low end of the flagged HK$20.05 to HK$20.50 range when the deal was launched earlier on Tuesday.
Alibaba Health, an arm of internet retail giant Alibaba Group (N:), said the cash would be used to develop the company’s pharmaceutical e-commerce business, which has benefited from the growth of the online service sector during the coronavirus pandemic this year.
The transaction was the largest follow-on share sale on the Hong Kong Stock Exchange since 2015, and the biggest ever health care deal, according to a term sheet reviewed by Reuters.
The size of the deal was increased by 25% during the institutional bookbuild overnight following high demand from investors.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.