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          Flipkart-Walmart deal: CCI nod to US retail giant's Flipkart acquisition for $16 billion      Cache   Translate Page   Web Page Cache   
The Competition Commission of India (CCI) cleared the acquisition of India e-commerce major Flipkart by the United States-based retail behemoth Walmart.
           CVS Health tops 2Q forecasts, downplays help from rebates      Cache   Translate Page   Web Page Cache   
CVS Health beat Wall Street's second-quarter expectations, helped by a rise in prescriptions, but a nearly $4 billion charge from one of the company's businesses weighed on results
          China slaps further tariffs on US goods      Cache   Translate Page   Web Page Cache   
China is slapping additional import tariffs of 25 per cent on $US16 billion ($A22 billion) worth of US goods. Reported by SBS 2 hours ago.
          Elon Musk Now Worth $1.4 Billion      Cache   Translate Page   Web Page Cache   
On Tuesday Elon Musk's net worth rose as Tesla's stock surged after he tweeted that he was thinking of taking the company private. With a $25.8 billion net worth, he's the world's 31st richest person. He's also Tesla's largest shareholder. The tweet was only 61 characters long, but it was powerful enough to make Tesla CEO Elon Musk $1.4 billion richer. Business Insider reports Musk could climb the ranking faster if investors decide Tesla is worth more than its current $58 billion market cap.
          Billionaire Trader Seeks $80 Million for David Hockney Painting - Bloomberg      Cache   Translate Page   Web Page Cache   
@JacobWolinsky, @Jeffrey_Cane, @JohnLothian, @ldelevingne, @fbonacci
          Research Antibodies Market, Top Services by Merck Group, Abcam PLC, Becton, Dickinson and Company, Cell Signaling Technology, Inc, Bio-Rad Laboratories, Inc. , Lonza , Genscript , Biolegend, Inc., Danaher Corporation, Thermo Fisher Scientific and Others      Cache   Translate Page   Web Page Cache   
Research Antibodies Market, Top Services by Merck Group, Abcam PLC, Becton, Dickinson and Company, Cell Signaling Technology, Inc, Bio-Rad Laboratories, Inc. , Lonza , Genscript , Biolegend, Inc., Danaher Corporation, Thermo Fisher Scientific and Others “Global Research Antibodies Market Analysis to 2025” newly adds in Researchformarkets.com database. This report covers leading key company profiles with information such as business overview, regional analysis, consumption, revenue and specification. Global Research Antibodies Market valued approximately USD 2.64 billion is

          China to impose additional tariffs on $16B worth of U.S. goods      Cache   Translate Page   Web Page Cache   
China US Tariffs

China is imposing additional tariffs of 25 per cent on $16 billion US worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world's largest economies escalated their trade dispute.


          ‘Best Built Plans’: CPWR pilot program aimed at curbing injuries from lifting, moving heavy materials      Cache   Translate Page   Web Page Cache   
Silver Spring, MD — Lifting and moving heavy materials are among the leading causes of disabling injuries in the construction industry, and these injuries can cost employers billions of dollars, according to the Center for Construction and Research Training – also known as CPWR.
          Pakistan defends its economic partnership with China amid US criticism       Cache   Translate Page   Web Page Cache   

Pakistan on Wednesday defended its economic partnership with China, amid fears that the terms of opaque multi-billion dollar investments by Beijing could be exacerbating Islamabad's economic woes as it considers a fresh Internation Monetary Fund (IMF) bailout.

“We have noted recent media reports questioning the viability of China Pakistan Economic Corridor (CPEC), claiming that it would create an unbearable debt burden for Pakistan,” the government said in a statement issued to the media.

“Such media reports are often one-sided, distort facts, and are based on irresponsible statements by individuals who either have no understanding of CPEC or are driven by ulterior motives,” the statement continued.

The China-Pakistan Economic Corridor (CPEC) is an ambitious plan by Beijing to build infrastructure in Pakistan, mainly energy and transport, connecting the western Chinese region of Xinjiang with the Arabian Sea.

It is part of China's massive “Belt and Road” initiative seeking to revive ancient trade routes through a massive rail and maritime network via $1 trillion in investments across Asia and Europe.

But the opaqueness of the CPEC terms has led to concerns as Pakistan faces a looming balance-of-payments crisis, with analysts saying it will need to take urgent action, potentially seeking a bailout from the International Monetary Fund (IMF).

“It is because of the favourable financing arrangements that Pakistan opted for Chinese investment under CPEC,” said the statement issued by the caretaker administration.

“China stepped forward to support Pakistan's development at a time when foreign investment had dried up, and economic activity was being crippled by energy shortages and infrastructure gaps,” it said, calling CPEC a “win-win”.

Chinese energy companies have “raised funds from Chinese banks and investors”, and these do not constitute any debt obligation on Pakistan, the statement said.

“CPEC projects are financed through a composite financing package comprising long-term government-to-government concessional and preferential loans, as well as grants from the government of China. Repayments on these loans would not commence in the immediate future,” it added.

The details come after US Secretary of State Mike Pompeo voiced concerns in July over any IMF bailout being used to repay Islamabad's debts to China, with whom Washington is engaged in a trade war.

On Tuesday Pakistan's likely future finance minister Asad Umar announced that the decision on a possible IMF loan would be taken by “the end of September”.

“There is a general perception that we have picked up very expensive loans from the Chinese. I personally don't think so,” he told reporters in Islamabad.

“They are like most commercial loans,” he said, denouncing the “lack of transparency” by the previous government on the subject.

China's financial largesse, in the form of the Belt and Road project, has raised concerns over the vulnerability of poorer nations to such massive debt.

Last year Sri Lanka was forced to hand over majority control of its Hambantota port to China after being unable to repay its loans.


          No relief for people likely in first 100 days of PTI government       Cache   Translate Page   Web Page Cache   

ISLAMABAD: The incoming Pakistan Tehreek-i-Insaf government plans to offer profitable dollar bonds to overseas Pakistanis, place China-Pakistan Economic Corridor (CPEC) agreements before parliament, but is unlikely to offer any relief to the people in the first 100 days in office.

Speaking at the first formal press conference after the recent elections, the likely new finance minister Asad Umar said that offering any relief or subsidy to the people in first 100 days was like giving lollipops. He said the first 100 days would also not see a decision that would change the destiny of the nation, but a clear direction on what “we promised and where we are headed for stock-taking”.

Read: What awaits the next setup

He complained that the local and international media did not quote him accurately in recent reports about the need for $12 billion foreign financing, privatisation of 200 companies, including the Pakistan International Airlines and Pakistan Steel Mills, and so on. He said there was no discussion so far on revising budget and non-transparency in foreign loans was the real challenge.

Mr Umar said the PTI so far did not have access to real data, nor did it have any outside view of the latest situation but based on the best available information, one thing was clear that the requirement was reasonably urgent to examine all available options to finance external account. “The situation is such that we don’t have the luxury of choosing one option, but will have to plan all options in parallel, including the IMF support within six weeks.”

Asad Umar says CPEC agreements will be placed before parliament, expats to be offered profitable dollar bonds

The PTI leader said Sukuk bond, Eurobond, bilateral and multilateral options were on the table, but most importantly his party wanted to tap into overseas Pakistanis’ potential in a big way. “The Pakistanis abroad have a sentimental relationship with PTI and Imran Khan and we plan to give them debt instruments with returns better than what they are getting at present so that they could also take a pride in nation building.”

See: How the Pakistani economy survived a second transition of democracy

He said it could be on the pattern of dollar-denominated bond of the Central Directorate of National Savings and the people abroad also wanted its tradability. Secondly, he added, overseas Pakistanis would also be offered equity instruments, for example, in real estate, but by taking risk away from those who had bad experiences of their investments. “There is no size decided, nor market assessed” and it would depend on the situation and demand, he said in response to a question.

Mr Umar said all agreements should be transparent and placed before parliament unless some real secret was involved. He said his party had been demanding that the CPEC and LNG agreements should be presented in parliament and it would now ensure that economic decision-making was transparent.

In reply to question, he said that after a lot of efforts at the level of parliamentary committees he had been able to access the details about the CPEC agreements and there was nothing in those agreements to hide. “Yes, we will bring them before parliament to ensure transparency.”

At the same time, Mr Umar said there was no question of going back on any international commitment or reopening any agreement unless some clear wrongdoing or corruption appeared and there should not be any problem to take them up with the Chinese government which was aggressively fighting corruption which was neither in the interest of China nor Pakistan. Likewise, he said the LNG agreement with Qatar would also be presented before parliament.

He said the Chinese ambassador held a meeting with PTI chairman Imran Khan and had a follow-up session with him in which matters relating to taking the CPEC to the next level were discussed without any specific proposals. He said no loans were discussed with the Chinese, but “we have an assurance that China as a friend would stand by us”.

He criticised the Pakistan Muslim League-Nawaz government for presenting an unrealistic budget and reckless spending for political means and borrowing heavily which had increased fiscal deficit for the last financial year to 7.1 per cent from a target of 4.1pc. “We never have such expansionary monetary and fiscal policies, while current account deficit reached an unsustainable level, from $2 billion a year when the problem started to $2 billion a month when the PML-N left.”

Mr Umar said the availability of bankable data on everything was the real challenge and even power production and supply numbers were unrealistic, adding that commercial loans were not a problem, but the problem was with transparency in all sectors and agreements.

He said the situation in Pakistan was dire at present and required tough decisions for course correction, adding that it would be unfair so say that Pakistan had never been to dire situations like this before and it came out of problems in the past and there was no reason not to overcome challenges this time.

Mr Umar claimed that no real reforms had taken place over the past five years and it was not only failure of the government but also the IMF as the two together “kept glossing over the challenges with Panadol to bring down fever instead of curing the disease with real reform”.

He said all the loss-making entities would be taken out of the control of line ministries that protected the status quo and placed under a wealth fund whose ownership would remain in the name of the president of Pakistan. There would be no need for seed money and would keep getting financing from the finance ministry as before.

He said there was no truth in reports about deals to free former prime minister Nawaz Sharif. He said the best relief for the people could be real reforms that included reduction in indirect taxes which have touched 90pc now and increase recoveries from direct taxes. He said Imran Khan would not distribute jobs in D-Chowk, but increase revenues, reduce expenditures and open up six areas for investments and job creation.

Published in Dawn, August 8th, 2018


          SC wants to get back Rs600 billion stashed abroad by Pakistanis       Cache   Translate Page   Web Page Cache   

ISLAMABAD: The Supreme Court on Tuesday made known its desire to bring back at least Rs600 billion of a perceived Rs1 trillion stashed in foreign lands by Pakistani nationals.

Many Pakistanis maintained accounts and owned properties in foreign lands, including the United Arab Emirates and Switzerland, deplored Chief Justice Mian Saqib Nisar during a suo motu hearing pertaining to illegal transfer of money from Pakistan to foreign countries.

The case was initiated when it came to the notice of the court that a large number of Pakistani citizens are maintaining accounts in foreign countries without disclosing to the authorities or paying taxes on them under the law.

Seeks details of Musharraf, Zardari’s properties

A lot of amount of money had been transferred away but the top bureaucracy of the country always came out with excuses whenever they appeared before the court, the chief justice regretted.

The court also hinted at issuing notices out of the list prepared by the Federal Investigation Agency (FIA) to learn reasons why such people did not take advantage of the amnesty scheme launched by the previous government for voluntary disclosure of foreign assets owned by Pakistani citizens.

The scheme was launched to provide an opportunity to declare or transfer foreign assets to Pakistan in lieu of payment of taxes.

On March 26, former prime minister Shahid Khaqan Abbasi had announced the scheme after which the federal government promulgated the Foreign Assets (Declaration and Repatriation) Ordinance, 2018.

The significant feature of the ordinance is the promised immunity from taxation and penal action in respect of undeclared foreign assets subject to payment of taxes, etc.

Earlier, a 12-member committee of experts, headed by State Bank of Pakistan (SBP) Governor Tariq Bajwa, had informed the Supreme Court through its report that a staggering amount of $15.25bn was transferred abroad by individual account holders in Pakistan during 2016-17 through normal banking channels. Likewise, a substantial amount of transfers also took place from Pakistan under unauthorised and undocumented hundi and hawala mechanism.

The committee had feared that both types of outflows — regular channel and hundi or hawala — had a huge impact on the stability of the country’s foreign exchange reserves and adversely affected the exchange rate of the Pakistani rupee.

As a result, the national economy become vulnerable to pressure due to foreign currency obligations of the state, the report had explained, adding that this trend could also cause Pakistan to suffer undue and disruptive inflation and could drain the exchequer of substantial amounts of tax on account of escaped income and wealth.

The SBP governor, however, sought time from the court so that the central bank could formulate a strategy to deal with the matter.

On Tuesday, the same bench directed former presidents retired Gen Pervez Musharraf and Asif Ali Zardari as well as former attorney general Malik Qayyum to submit affidavits showing details of their properties.

The court is seized with a petition of Advocate Feroz Shah Gilani, president of the Lawyers Foundation for Justice, in which he had named Pervez Musharraf, Malik Qayyum, Asif Ali Zardari and the National Accounta­bility Bureau as respondents.

The chief justice observed that accountability should begin with people in powerful positions and directed senior counsel Farooq H. Naek to submit affidavits containing details of Asif Zardari’s assets.

Mr Naek, however, argued that both Asif Zardari and Bilawal Bhutto-Zardari had recently submitted their asset details with the Election Commission of Pakistan in their nomination papers.

In his petition, Mr Gilani had requested the court to order recovery of huge amounts of public money misappropriated and wasted by the respondents through unlawful means already on record in different judgements of the Supreme Court and high courts.

Published in Dawn, August 8th, 2018


          SBP moves to regulate banks’ overseas operations       Cache   Translate Page   Web Page Cache   

KARACHI: After two of the country’s largest private banks had their skirmishes with regulatory authorities in the United States, the State Bank of Pakistan moved to develop a more detailed “governance framework” for the overseas operations of all banks.

In a document released on Tuesday, the SBP said the framework is issued in light of “changing dynamics of foreign environment” and aims “to further strengthen the governance, risk management & compliance practices for banks’ overseas operations.”

The framework covers all foreign operations of Pakistani banks including general operations, overseas subsidiary operations, overseas operations and profit repatriation, performance monitoring & regulatory reporting of overseas branch operations shall be applicable with immediate effect.

In addition to penalties incurred by the Habib Bank Limited last year, the United Bank (UBL) also signed an agreement with the Federal Reserve Bank of New York last month to comply with laws and regulations of United States.

According to the agreement with Federal Reserve Bank of New York, UBL is taking steps to address deficiencies relating to New York branch’s risk management and compliance framework under federal and state laws, rules, and regulations relating to anti-money laundering compliance, including the Bank Secrecy Act.

Half of all profits from overseas branches to be remitted back; boards to play more active role in oversight

SBP’s framework will ensure that the boards and senior management at banks must “have clear understanding of relevant important laws and regulations in respective overseas jurisdictions.” It also mandates banks to “repatriate at least 50 per cent of its profit after tax of each jurisdiction” to the head office in Pakistan every year.

“The bank is expected to maintain Return on Equity — profit after tax/total capital — in each jurisdiction at least equivalent to industry or peer average of that particular jurisdiction,” the circular adds, saying that those overseas operations that fall below this standard for two consecutive years will have to submit an action plan to the SBP explaining reasons for the losses as well as actions planned to be taken to reverse the trend.

All local banks with overseas operations will have to develop a mechanism whereby their respective boards will be required to oversee and regularly evaluate financial and operational performance of its overseas subsidiary, sub-subsidiary, joint venture operations; and that of overall overseas branch operations within the next three months.

Under the framework, all banks will be required to develop comprehensive risk governance framework for its overseas operations within six months.

Furthermore, “the bank with overseas assets of over $1 billion, will consider forming a separate sub-committee of board to oversee its overseas operations,” said the State Bank.

Banks may also consider forming a dedicated management committee under the chair of President for their respective overseas operations, the SBP suggested.

Moreover, under the framework, banks will have to ensure that all their transactions, dealings, contracts with foreign branches and joint ventures of those foreign branches among themselves are also carried out in a transparent manner under a board-approved policy.

Banks will not be allowed to expand operations in jurisdiction(s) where SBP itself is unable to conduct on-site examination or through a third party due to host country’s laws and regulations.

“In jurisdictions where no such bar is in place, the bank will bear the cost if SBP decides to conduct an inspection of bank’s existing operations through a third party,” said the SBP.

Under the policy which shall be applicable with immediate effect, SBP advised banks with overseas operations to ensure strict compliance of ‘Framework’ in letter and spirit within the given timelines.

“There will be a zero tolerance towards regulatory non-compliance,” said the SBP.

Published in Dawn, August 8th, 2018


          IT sector’s share of exports stands at $2.8bn: RCCI       Cache   Translate Page   Web Page Cache   

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) President Zahid Latif Khan on Tuesday said information technology sector contributed $2.8 billion to the country’s export.

He was addressing a financial technology conference (FinTech) at a local hotel.

The major purpose of this conference was to promote use of information technology (IT) and to create awareness among key stakeholders of its use in financial management, lowering cost of production and bringing innovation in their businesses.

He said with the government support exports in the sector could be enhanced to $5 billion in next three years.

The RCCI president said in Pakistan the IT industry had great potential and urged the government to provide favourable environment for the promotion of IT in different sectors including banking (e-banking), medicine (telemedicine) and manufacturing (e-designing).

He said in recent years e-commerce had doubled its penetration in Pakistan and said this would further grow in coming days.

Mr Latif said IT sector was growing exponentially in Pakistan. He also highlighted key initiatives of RCCI in promoting IT in the region includingICTawardsand e-health conference.

With the increase of internet penetration in Pakistan, he said, the IT sector offered huge potential for local companies to join hands with multinational companies.

He said e-commerce was the future mode of conducting business, and would provide an opportunity to small and medium enterprises (SMEs).

Chairman RCCI committee on information technology Raja Umer Iqbal said that Rawalpindi and Islamabad had 40pc share in the IT business as many multinational companies have established their offices here.

CEO Fauji Fertilizer Company (FFC) retired Lt-GenTariq Khan said that financial management offered big challenges and adaptation of modern information technology could help consumers in a big way.

“A joint effort is required from the society and the government to evolve our key financial sectors, banking, insurance and corporate sector into modern digital format.

“Technology is growing very fast and we must be ready to meet the future challenges of security under financial management,” he said.

Representatives from Securities and Exchange Commission of Pakistan (SECP), SBP and Pakistan Software Export Board also discussed the key initiatives to improve users experience in financial services with incorporation of information technology.

Senior Vice President Nasir Mirza, Vice President Khalid Farooq Qazi,former presidents, members of the executive committee and a large number of IT companies’ representatives attended the conference.

Published in Dawn, August 8th, 2018


          China to slap additional tariffs on $16 bln worth of U.S. goods      Cache   Translate Page   Web Page Cache   
China is imposing additional import tariffs of 25 percent on $16 billion worth of U.S. goods, ranging from oil and steel products to autos and medical equipment. Tara Cleary reports.

          U.S. finalizes next China tariff list      Cache   Translate Page   Web Page Cache   
The United States will begin collecting 25 percent tariffs on another $16 billion in Chinese goods on Aug. 23, the U.S. Trade Representative's office said on Tuesday as it published a final tariff list targeting 279 imported product lines. Grace Lee reports.

          IoT Security Market to 2025 – Cisco Systems, IBM Corporation, Infineon Technologies, Intel Corporation, Symantec Corporation, ARM Holdings      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) IoT security market is expected to grow US$ 30.9 billion by 2025 from US$ 7.28 billion in 2016. Network security market comprise largest market share among all five security types and is expected to continue its dominance throughout the forecast period. The demand...
          (USA-FL-Bartow) Crew Leader - FWS      Cache   Translate Page   Web Page Cache   
Crew Leader - FWS About the Organization AAF International offers the most comprehensive clean air solutions available across the globe. Selling under the American Air Filter- and the AAF International- brand names, AAF International has been an industry pioneer since 1921 and has since grown to operations in over 22 countries with over 3000 employees. Our products are the industry benchmarks for quality and performance, and delivers clean air solutions in residential, commercial and industrial air pollution control, gas containment removal, power generation, and other stringent clean room environments. We are a member of the Daikin Group, the world's largest air conditioning and clean air solutions provider with over $15 Billion in sales and 56,000 employees worldwide. Founded in 1924, Daikin has grown into a diversified industrial manufacturing company offering solutions in clean, air, air conditioning, refrigeration, chemicals, oil hydraulics, defense systems and electronics. AAF and Daikin are powered by our investment in people, products, and our processes. Our culture of continuous improvement, safety, and world class operations is powered by our people centered management philosophy. This philosophy is built around mutual selection: that while AAF seeks top talent people to join and deliver on our team, we also want each team member to receive job satisfaction, growth & development, and continued happiness in being a long term member of the AAF family. This is fueled by our belief in treating our people, our supply partners, our customers and our environment with the trust and respect we each require, and our passion to give back to our community for our success. Read more about our philosophy at: http://www.daikin.com/about/corporate/philosophy/index.html AAF International is an Equal Opportunity Employer M/F/Disability/Veteran. EOE Statement We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. Description PURPOSE OF POSITION To ensure that all shipments are loaded accurately according to quality and company standards. PRINCIPAL DUTIES + Maintain cohesiveness among co-workers. + Ensure accuracy on all work order forms. + Ensure quality product is shipped to customers. + Ensure product is loaded in a timely manner. + Performs other duties as assigned by management. DECISIONS AND RESPONSIBILITIES + Must have the ability to choose or decide about things in a clear and definite way without too much hesitation or delay. + Accountable for accuracy and productivity of co-workers. + Should be able to adapt to last minute change in scheduling. + Responsible for informing picker and Shipping Supervisor (if required) on any discrepancies that are discovered on an order prior to loading onto trailer. Category Warehouse Operations EEO Job Category Operatives Position Requirements REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES + High school diploma or equivalent required. + Strong written and verbal communication skills. + Must have basic math skills. + Must be able to use a tape measure accurately. + Must be able to read and write English well. + Must have the ability to guide, direct, or influence people in a positive manner. + Must be able to prioritize things according to their importance or urgency. + Must have a positive attitude to change. + Should be able to teach co-workers. PHYSICAL REQUIREMENTS/WORKING CONDITIONS + Must be able to lift up to approximately 50 pounds. + Must be able to stand for extended periods of time. + Must be able to sit, stand, bend, stoop, and lift to perform job functions. + Safety glasses are required at all times to protect against dust and particles. + Must be able to work in a manufacturing environment with exposure to noise, fumes and dust particles. + Must be able to withstand both hot and cold atmosphere depending on weather conditions. + Must be able to travel throughout the facility to obtain information needed to perform job functions. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position. Full-Time/Part-Time Full-Time Shift Second Position Crew Leader - FWS Exempt/Non-Exempt Non-Exempt Location Bartow, FL This position is currently accepting applications.
          Drake is the first artist to cross 50 billion streams      Cache   Translate Page   Web Page Cache   
Another Drake record.
          Treasury Analyst - Hudson - Singapore      Cache   Translate Page   Web Page Cache   
- Treasury Analyst - US Chemicals MNC - APAC remit THE COMPANY Our client is a multi-billion manufacturing MNC operating globally with a strong presence in...
From Hudson - Mon, 06 Aug 2018 11:09:32 GMT - View all Singapore jobs
          Musicians Now Make Only 12% of the Money in the Music Business      Cache   Translate Page   Web Page Cache   

I was actually just thinking over the weekend about how if some philanthropic billionaire gave a shit, they could easily wage a PR campaign designed to get people to tip their musicians...

The post Musicians Now Make Only 12% of the Money in the Music Business appeared first on disinformation.


          Samsung: Ανακοίνωσε επενδύσεις ύψους €138 δισ. (!) για Τεχνητή Νοημοσύνη, δίκτυα 5G και πολλά άλλα      Cache   Translate Page   Web Page Cache   

Techgear.gr

Μπορεί οι πωλήσεις των Samsung Galaxy S9/S9+ και Galaxy Note8 να μην ήταν οι αναμενόμενες, παρόλα αυτά, η Samsung δεν σκοπεύει να κάτσει με σταυρωμένα τα χέρια και έχει αρκετό ρευστό στη διάθεση της από τα υπόλοιπα τμήματα της εταιρείας. … Continue reading

Samsung: Ανακοίνωσε επενδύσεις ύψους €138 δισ. (!) για Τεχνητή Νοημοσύνη, δίκτυα 5G και πολλά άλλα


          Tattoo Removal Devices Market by Product Type, End Use & Forecast 2023      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) Tattoo Removal Devices market is anticipated to grow at 6.70% CAGR from 2018to 2023 and it is estimated that the global market was valued at USD 265.27 million in 2018 and is expected to reach USD 366.87 billion by 2023. Browse For Full Report @ https://marketdataforecast.com/market-reports/tattoo-removal-devices-market-6353/ Tattoo...
          Dairy Alternatives Market worth $30.08 Billion USD by 2023      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) The Dairy Alternatives Market is showcasing evident potential in the mentioned forecasting period. Dairy alternatives are texture products similar to milk, which are lactose free and are used as a replacement of dairy based products. These alternatives are majorly...
          Industrial Starch Market worth $114.23 Billion by 2023      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) The Industrial Starch market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rise in the efficiency of alternate starch sources like cassava and others. Various companies have been showing interest...
          Non-Surgical Skin Tightening Market - Global Industry Analysis, Size 2023      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) Non-Surgical Skin Tightening market is anticipated to grow at XX% CAGR from 2018to 2023and it is estimated that the global market was valued at USD XX billion in 2018 and is expected to reach USD XX billion by 2023. Browse For Full Report @ https://www.marketdataforecast.com/market-reports/non-surgical-skin-tightening-market-6398/ Non-surgical...
          Senate passes $38 billion to Israel      Cache   Translate Page   Web Page Cache   
https://israelpalestinenews.org/senate-passes-38-billion-to-israel-next-step-house-of-representatives/ The Senate yesterday passed a bill to give Israel $38 billion over the next 10 years. The legislation, heavily promoted by AIPAC, was adopted in a voice vote. The bill is “S.2497 – United States-Israel Security Assistance Authorization Act of 2018.” This amounts to approximately $23,000 for each Jewish Israeli family of four. The bill also mandates that […]
          The Global Automotive Fuel Tank Market is projected to reach at notable revenue of USD 17.6 Billion by the end of 2024      Cache   Translate Page   Web Page Cache   
Global automotive fuel tank market is expected to register a 5.5% CAGR over the forecast period. Moreover, the global automotive fuel tank market is projected to reach at notable revenue of USD 17.6 Billion by the end of 2024.
          Global Biomass Boiler Market is expected to reach at USD 10.8 Billion by the end of 2024      Cache   Translate Page   Web Page Cache   
Global biomass boiler market is expected to register a 17.9% CAGR over the forecast period. Moreover, the global biomass boiler market is expected to reach at USD 10.8 Billion by the end of 2024.
          Big Data Investments in the Insurance Industry will account for more than $2.4 Billion in 2018      Cache   Translate Page   Web Page Cache   
Big Data in the Insurance Industry report provide company profiles, Market Growth Drivers, Business Case & Applications, Future Roadmap & Value Chain, Market Sizing & Forecasts, Vendor Landscape.
          Global Maltodextrin Market is Anticipated to Mark a Noteworthy CAGR of 7.4% over the forecast period 2017-2024 – Research Nester      Cache   Translate Page   Web Page Cache   
Global maltodextrin market stood at a valuation of around 2.9 USD Billion in 2013 and is expected to flourish at compound annual growth rate (CAGR) of 7.4 % over the forecast period.
          Global Defoamers Market to Grow USD 4.5 Billion with CAGR 4.6% by 2024 – Research Nester      Cache   Translate Page   Web Page Cache   
Global defoamers market is anticipated to grow at a compound annual growth rate (CAGR) of 4.6% over the forecast period 2017-2024. Further, global defoamers market stood at valuation of USD 2.9 Billion in 2016.
          Robust Growth of Roofing Chemicals Market between 2017-2027 due to Rising Demand of Bituminous Roofing Chemical      Cache   Translate Page   Web Page Cache   
The global chemical roofing market is expected to reach USD 148 Billion by the end of 2027. Moreover, the market is anticipated to reach a valuable CAGR over the forecast period.
          Global Turbo Compressor Market is expected to flourish at a CAGR of 6.2% over the forecast period 2017-2024 – Research Nester      Cache   Translate Page   Web Page Cache   
Global turbo compressor market stood at a valuation of USD 12.2 Billion in 2016 and is anticipated to grow at robust compound annual growth rate (CAGR) of 6.2% over the forecast period.
          Global Pen Display Graphic Market is riding on the Back of Growing Animated Industry during the forecast period      Cache   Translate Page   Web Page Cache   
The market size of the global animation industry was estimated to be USD 244 billion in 2015 and is growing at the rate of 5% Y-o-Y. This growth will add to the growth of the global pen display graphic market.
          Medical Implant Market To Worth USD 171.5 Billion | With 7.7% of CAGR by 2023      Cache   Translate Page   Web Page Cache   
“Medical Implants Market” Report Exclusory Available at MarketReseacrhFuture.com with Unique Research information. Experts predicts that a Blatant Growth Seen in Healthcare by 2023.
          Increasing Investment in the Field of Research & Development to Foster the Growth of Chromatography Instrumentation Market      Cache   Translate Page   Web Page Cache   
Global chromatography instrumentation market is projected to swell from USD 7.3 Billion in 2015 to reach USD 9.5 Billion by 2020, exhibiting a compound annual growth rate (CAGR) of 4.5%.
          Global Ready to Install Kitchen Cabinets Market is Estimated to Reach USD 45.67 Billion by the end of 2023 – Research Nester      Cache   Translate Page   Web Page Cache   
The ready-to-install kitchen cabinet market has the largest share in the cabinets market across the globe. The global ready-to-kitchen market is expected to reach USD 45.67 Billion by 2023.
          NASA has created the coldest spot ever - Infosurhoy      Cache   Translate Page   Web Page Cache   

Infosurhoy

NASA has created the coldest spot ever
Infosurhoy
Just a few months after launching the Cold Atom Lab, designed to create the coldest spot in the known universe, 10 billion times colder than the depths of space, NASA has achieved its goal. Brrrr. The government agency created atoms known as ...

and more »

          US stocks close mixed amid trade tensions      Cache   Translate Page   Web Page Cache   

New York, Aug 9 (IANS) US stocks closed mixed as investors monitored the latest development of US-China trade conflicts.

The Dow Jones Industrial Average on Wednesday was down 45.16 points, or 0.18 per cent, to 25,583.75. The S&P 500 erased 0.075 point, or 0.03 per cent, to 2,857.70, Xinhua news agency reported.

The Nasdaq Composite Index increased 4.66 points, or 0.06 per cent, to 7,888.33.

The Chinese Ministry of Commerce announced on Wednesday a 25 per cent charge on $16 billion worth of US goods, including auto and crude oil.

The announcement came after the US government released a finalised list of $16 billion worth of Chinese goods that will be charged with higher tariffs.

This earnings season has been stronger than analysts had expected.

Second quarter earnings are expected to increase 23.5 per cent from the same period last year. Excluding the energy sector, the earnings growth estimate declines to 20.4 per cent.

--IANS

pgh/


          the good mother      Cache   Translate Page   Web Page Cache   
fooling around on amazon with my daughter - she found 3 movies to put in amazon library - and i saw 1 i wanted.

'the good mother.'

this was a wonderful movie based on amazing book by sue miller.

diane keaton should have won another oscar for this 1.  she is amazing as anna.  the basics are she and her husband divorce.  they have a daughter.  anna's raising her daughter and working.  she ends up having a boyfriend (liam neeson) and that ticks the ex-husband off. 

the daughter ends up in a custody battle - i'm providing as few spoilers as possible.

it's a really good movie.  leonard nimoy directed it.

i think 'shoot the moon' is probably diane's most amazing performance ever.  but 'the good mother' is probably close.   diane's a great comedy actor but she can deliver in a drama and has repeatedly.  she's just an all around strong actress. 

she's made some films that will stand the test of time.  those include the 1s with woody allen, the godfather movies, 'something's got to give,' 'reds,' 'shoot the moon,' 'looking for mr. goodbar,' '1st wives club' and many more.  and let's name the woody classics - 'sleeper,' 'love & death,' 'annie hall,' 'manhattan' and 'manhattan murder mystery.'

she really is something amazing.

oh, and she just co-starred in the summer's biggest comedy: 'book club.'



let's close with c.i.'s 'Iraq snapshot:'


Tuesday, August 7, 2018.

We're going to start with something non-Iraq at all (we'll also be ending with something non-Iraq).  I know Illeana Douglas and have known her for years.  As Rebecca noted last month, I first heard of Leslie Moonves' assault of Illeana years ago.  At THIRD this week, we did "Unlike Alyssa Milano, we'll stand with Illeana Douglas."  (Ann offered "Alyssa Milano reveals she doesn't give a damn about women" last night.)

Alyssa Milano is not who she claims or self-presents as.  Rose McGowan rightly called her a lie.  Though Corey Feldman was sympathetic to her, he publicly mocked her -- rightly so -- when she claimed she never had any idea that he or Corey Haim had been molested as children.  She knew.  She claims she never knew that Brad Kern was abusive to women on the set of CHARMED -- where she was a producer.  Everyone else knew.  There were complaints.  Repeated complaints.  She took a producer's credit (and pay) and it was her job to provide a safe work environment.  She failed.  To TIME magazine and others, she has presented herself as the head of #MeToo (after stealing the phrase from African-American  woman Tarana Burke -- one of her many cultural appropriations).  Yet though she Tweets over and over daily, she's still not Tweeted about Illeana or any of the other women who spoke out in Ronan Farrow's NEW YORKER piece.


Not one Tweet.  CAA is the reason I'm not part of #MeToo.  CAA pimped out women constantly.  There's a foreign actress who appeared in several hit films and was used by CAA before and after.  They pimped her out.  She remains destroyed today.  (If she chooses to tell her story publicly, I will support her.  Currently, she's still in therapy attempting to deal with what they put her through.)  Alyssa's married to CAA's David Bugliari and Alyssa's a "CAA speaker" that you can 'book.'

Alyssa's silence backs up everything many of us have long said.  She's is not a friend to women, she is stilted actress determined to self-promote, desperate for a career.  She is not about empowering women.  She's is about co-opting anything she can.

As for CBS, Leslie is part of a long pattern there that began with William Paley and the hell he put his wife (Babe Paley through) -- one affair after another, while he stopped having sex with her early in their marriage, his refusal to allow her to raise their children or even hug them in front of him.  He was pure filth and set the tone all those years ago.  CBS has always been hostile to women.  Most networks would be thrilled to have a hit show but CBS has always only been thrilled to have a hit show if it starred men.  Whether we're talking DESIGNING WOMEN, CAGNEY & LACEY, CYBILL, THE NANNY or the now returning MURPHY BROWN, CBS repeatedly undercuts and undermines their programs with female leads, undercutting them, pushing them through one time change after another, etc., etc.  At THIRD, Ava and I have long documented the institutional sexism at CBS and we've done it for a reason.

Leslie is guilty and if I were Julie Chen, sleeping with my married boss and then lucky enough to get him to leave his wife for me, I guess I'd rush forward to defend him too.  I mean, what career would Julie have if she hadn't slept with Leslie?  None at all.  I could go on and on here.

The point is Illeana told the truth and has been telling it to a number of us over the years.  And CBS has made clear that they do not take harassment seriously by allowing Moonves to remain on the job while he is under investigation.  He should be put on administrative leave.  Anything less goes to CBS not taking the issue seriously.  He is accused of harassment and attempted rape.  These are serious charges.  If you take them seriously, you put him on administrative leave until the investigation is over.  Otherwise?  You're saying work safety and the right of women to be safe at work does not matter.

Grasp that fake ass Alyssa is not just refusing to stand up for Illeana, she's refusing to stand up for women who may encounter Leslie.  He needs to be removed during the investigation.


Meanwhile, protests continue in Iraq.

Why?  Each year, Iraq rakes in billion from oil sales.  And the World Bank estimates the current population of Iraq to be 37.2 million.

With that kind of money coming in and that small of a population, meeting the needs of the people should be easy.

But it hasn't been.  The World Bank notes, for example, "The poverty rate increased from 19.8 percent in 2012 to an estimated 22.5 percent in 2014."  How does that happen?  Government corruption.  Politicians and officials stealing the public's money.

And it leaves nothing for the people.  Hence the video below.


Another video of Iraqi children eating from the garbage.


0:19
142 views






Live Right: The Protests Pockets of are ongoing throughout cities in the south of the country, perhaps not as large as in recent weeks, but will the same demands of electricity, potable water and employment. looks at the situation. 🇮🇶💪🏼


28 views
0:08 / 1:29

1:21
28 views





The corruption has enriched many.  Nouri al-Maliki's son, for example, has some really swank living spaces in England and some really sporty cars.  That's nice for a man who's never really worked in his life.  But that's awful for the Iraqi people.

The Iraqi people are protesting to save their lives.  They are risking their lives with these ongoing protests and 14 have already died.


The excessive violence and cruelty used by the Iraqi security forces ended the lives of 14 demonstrators in 10 days of ongoing protests calling for economic and service improvements," the Iraqi Observatory for Human Rights said."




They are demanding basic rights including access to electricity and potable water, including jobs.

These protests are now a month old and it's amazing how many of the Twitter 'social justice warriors' have ignored these protests.

Why do they have to protest?

Among other things because the US government destroyed Iraq with the (ongoing) war.  The US still bombs Iraq.  Monday, the US Defense Dept announced:



Strikes in Iraq
There were no reported strikes conducted in Iraq yesterday.
On Aug. 4 near Dulab, coalition military forces conducted a strike consisting of an engagement against ISIS targets, destroying two ISIS tunnels.
On Aug. 3 near Wadi Ashai, coalition military forces conducted a strike consisting of an engagement against an ISIS tactical unit.
There were no reported strikes conducted in Iraq on Aug. 2.
On Aug. 1 near Wadi Ashai, coalition military forces conducted a strike consisting of five engagements against ISIS targets, destroying two ISIS-held buildings and three ISIS supply caches.
On July 31 near Wadi Ashai and Wadi Zagatoon, coalition military forces conducted two strikes consisting of two engagements against ISIS targets, destroying an ISIS-held building.

On 30 July 30 near Wadi Ashai, coalition military forces conducted a strike consisting of an engagement against ISIS targets. The strike engaged an ISIS tactical unit.

The US government turned Iraq into a land of widows and orphans.  And it compounded the problems by 'selecting' Iraq's prime ministers.  Yesterday, we went over Nouri al-Maliki and Barack Obama, then-US president, selected Hayder al-Abadi to replace him in 2014.  (After Nouri's actions led to the rise of ISIS in Iraq.)


Supporting Abadi "was the easy way for the US to try to protect the gains it has made in Iraq over the last four years without having to do the substantial groundwork that would have been required to build up a range of political alternatives"
[link] [293 comments]

          Senior Supply Chain Operations Analyst - Maxim Integrated - San Jose, CA      Cache   Translate Page   Web Page Cache   
Maxim Integrated is a highly successful, $2.31 billion company. With offices and manufacturing sites around the world, we design award-winning semiconductors...
From Maxim Integrated - Thu, 07 Jun 2018 00:34:50 GMT - View all San Jose, CA jobs
          Vice President, Procurement and Supply Chain - Maxim Integrated - San Jose, CA      Cache   Translate Page   Web Page Cache   
Experience with JDA supply chain engine. Maxim Integrated is a highly successful, $2.31 billion company....
From Maxim Integrated - Wed, 18 Apr 2018 12:34:26 GMT - View all San Jose, CA jobs
          The SEC wants Tesla to explain Elon’s 420 tweet      Cache   Translate Page   Web Page Cache   
Elon Musk, billionaire founder of Tesla, startled the Twittersphere yesterday by announcing he wanted to take the company private at the price of $420 per share. While some speculated the tweet was a joke or a marijuana reference, others took to the market. The tweet sent the stock soaring up 11 percent, causing a halt in […]
          Saudi Billionaire Resumes Global Deal-Making      Cache   Translate Page   Web Page Cache   
Saudi Prince al-Waleed bin Talal’s $500 million spending spree on technology firms this week marks the billionaire’s return to international deal-making, after he was ensnared in a corruption crackdown at home.
          Home-Use Beauty Devices Market Opportunities by Types, Demand, Top Manufactures and Application in Grooming Regions      Cache   Translate Page   Web Page Cache   
Home-Use Beauty Devices Market Opportunities by Types, Demand, Top Manufactures and Application in Grooming Regions Global home-use beauty devices market is expected to reach $16.7 billion by 2023, according to P&S Market Research. The market is mainly driven by increasing inclination of consumers toward easy-to-use home-use beauty devices, rising prevalence of skin diseases, growing appearance consciousness

          E-Cigarette Market Size Was $15 Billion in 2017 and It Will Be $70 Billion by 2023; Is Growing at a CAGR of 27.3% During 2018 – 2023      Cache   Translate Page   Web Page Cache   
E-Cigarette Market Size Was $15 Billion in 2017 and It Will Be $70 Billion by 2023; Is Growing at a CAGR of 27.3% During 2018 – 2023 Global e-cigarette market is forecasted to attain a value of $70 billion by 2023. The growth in the market will be led by factors such as increasing demand for smokeless and ashless vaping and surge in the number of vape

          Precision Medicine Market | Prominent Players are NanoString Technologies, Roche, Medtronic      Cache   Translate Page   Web Page Cache   
Precision Medicine Market | Prominent Players are NanoString Technologies, Roche, Medtronic The Precision Medicine Market size is set to exceed USD 96 billion by 2024; according to a new research report by Global Market Insights. Rising prevalence of cancer across the globe fuels the need to develop target specific biomarkers based on

          U.S. finalises next China tariff list targeting $16 billion in imports      Cache   Translate Page   Web Page Cache   

U.S. finalises next China tariff list targeting $16 billion in importsThe United States will begin collecting 25 percent tariffs on another $16 billion in Chinese goods on Aug. 23, the U.S. Trade Representative's office said on Tuesday as it published a final tariff list targeting 279 imported product lines. The action is the latest by U.S. President Donald Trump to put pressure on China to negotiate trade concessions after imposing tariffs on $34 billion in goods last month. China has vowed to retaliate to an equal degree.



          China imposes additional tariffs on US goods      Cache   Translate Page   Web Page Cache   
China is imposing additional import tariffs of 25 per cent on another $16 billion worth of US goods as the 'trade war' between the world's two largest economies escalates. China's Commerce Ministry says the tariffs will apply to goods ranging from oil and steel products to automobiles and medical equipment, hours after the US announced it will impose 25 per cent duties on the same amount of Chinese goods. It is the second round of duties imposed by the countries as Washington and Beijing exchange blows in an intensifying trade dispute.
          Kinder Morgan filings have Trans Mountain Pipeline costing Canadian government an additional $1.5 billion      Cache   Translate Page   Web Page Cache   
Canadian Press service: Kinder Morgan Canada documents say expanding the Trans Mountain pipeline could cost the federal government an additional $1.9 billion (US$1.5 billion) beyond the company’s original construction estimate, and will take another year to complete. The figure is included in documents Kinder Morgan Canada filed Tuesday with the United States Security and Exchange […]
          “Hot Wheels” 50th Anniversary Book from Assouline      Cache   Translate Page   Web Page Cache   
Chris Down, SVP of Hot Wheels, says it best: “Everybody has a Hot Wheels story.” More than six billion miniature cars have been produced in the brand’s 50-year history. And not only children have adored them, adults covet the products—from iconic race-car driver Mario Andretti to entrepreneur Elon Musk, who went so far as to put a Hot Wheels version of a Tesla Roadster on …
          Convergint acquires ACT      Cache   Translate Page   Web Page Cache   
Company CEO says deal bolsters presence and expertise in the East
08/08/2018
Paul Ragusa

SCHAUMBURG, Ill.—Convergint Technologies recently announced the acquisition of New Jersey-based Access Control Technologies (ACT), adding approximately 1,000 customers and bringing greater expertise and depth to the Eastern region of the U.S.

“They have a tremendous reputation in the New York market and are one of the top Lenel integrators in that part of the country,” Ken Lochiatto, CEO of Convergint Technologies, told Security Systems News. “ACT’s leadership and service-oriented focus are exactly what we look for when evaluating whether an organization is a cultural fit for Convergint Nation.”

Lochiatto said Convergint has increased its presence in the East, particularly in the Boston and New York markets, where “combined between the two we are probably doing around $150 million in revenue,” he said. “We have so much need for great talent from companies like ACT, which have brought great additional depth to us now as well as some tremendous accounts. We are very excited about adding them as part of our team and supporting them across the U.S. and the world.”

Headquartered in Clifton, ACT provides integrated security solutions involving access control, video surveillance, identity management and alarm monitoring to customers in New York, New Jersey, Connecticut, Delaware and eastern Pennsylvania. All 38 ACT colleagues, including leaders Joe Liguori and Remo Cinquino, will be joining Convergint.

“Our two organizations possess a strong alignment of strategic philosophies with respect to customer satisfaction,” Joe Liguori, senior managing partner of ACT, said in the announcement. “Making the decision to join Convergint was an easy one. We look forward to the prospect of being a part of Convergint Technologies’ growth and adding to their capabilities.”

Lochiatto pointed out that Convergint also closed on another acquisition that it will announce next week, and has many more planned for the remainder of the year, both in the U.S. and overseas. “We are benefitting greatly from the strategy of buying outstanding companies that are known first as service-focused organizations,” he added.

Convergint has strategically grown its service footprint across the United States, Canada, Europe and Asia Pacific through strong organic growth and the completion of 18 acquisitions since early 2016.

In terms of overall growth, Lochiatto said Convergint will finish the year with strong organic growth in the mid-teens percentage-wise. “And if you take that along with the acquisition activity, we should be north of a billion dollars by year’s end, which is very exciting when you consider that we finished last year at $840 million.” He said that the company will also surpass the 4,000 employee mark by year’s end. 


          IoT Security Market 2025 Industry Production, Supply, Sales and Demand Market Research Report      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) IoT security market is expected to grow US$ 30.9 billion by 2025 from US$ 7.28 billion in 2016. Key trend which will predominantly effect the IoT security market in coming year is growing appearance of Blockchain in IoT security market. Blockchain technology...
          GE Capital’s Energy Financial Services Agrees to Sell Project Finance Debt Business Valued at Approximately $2.6 Billion to Starwood Property Trust      Cache   Translate Page   Web Page Cache   
NewswireToday (newswire) - 2018/08/08 Norwalk, CT United States - GE Capital has entered into an agreement to sell its GE Energy Financial Services’ Project Finance Debt Business (“Project Finance Debt Business”), including the transfer of a team of employees, to Starwood Property Trust, Inc. (“Starwood”) [NYSE: STWD]
          Optical Transport Network Market Revenue, Manufacturers, Customer Needs and Forecast to 2025      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) Global Optical Transport Network (OTN) Market is expected to grow from US$ 11.70 billion in 2016 to US$ 33.44 billion by 2025 at a CAGR of 12.45% between 2016 and 2025 Optical Transport Network (OTN) is a next generation industry protocol that facilitates a globally...
          Smart Agriculture Market 2025 Industry Production, Supply and Demand Market Research Report      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) Smart agriculture market is expected to grow US$ 30.01 billion by 2025 from US$ 11.30 billion in 2016. Along with the rising trend of globalization, the people are getting more educated regarding healthy diet and thus the food and beverages industry is experiencing...
          8/9/2018: Front Page: CCI OKs Walmart-Flipkart Deal; CAIT to Move Court      Cache   Translate Page   Web Page Cache   

New Delhi | Bengaluru: The Competition Commission of India (CCI) approved Walmart’s proposed $16-billion acquisition of a majority stake in online marketplace Flipkart, paving the way for the biggest deal in the country's corporate...
          Regulators in India Approve Walmart Deal to Buy Flipkart -Reuters      Cache   Translate Page   Web Page Cache   

--Regulators in India have approved Walmart Inc.'s (WMT) deal to buy Flipkart, Reuters reported Wednesday.

--In May, Walmart said it agreed to take control of India's largest e-commerce company for $16 billion. Later in the month, SoftBank Group Corp. said it agreed to sell its...

          8/9/2018: Brands: Creating Desire: $6.3 Billion & Counting      Cache   Translate Page   Web Page Cache   
Mumbai: There’s no stopping the Indian Premier League (IPL), unarguably the largest media property from India, as after 11 years, its brand value continues to soar and more viewers and advertisers join the bandwagon. After the 11th edition of the...
          GE to Sell Energy Debt Finance Business for $2.56 Billion      Cache   Translate Page   Web Page Cache   
By Allison Prang 

General Electric Co. has struck a deal to sell another part of GE Capital, this time selling its energy debt financing business to Starwood Property Trust Inc. for $2.56 billion.

Starwood said Wednesday it agreed to buy GE Capital's Energy Project Finance...

          8/9/2018: Disruption: Startups & Tech: Future of Payments      Cache   Translate Page   Web Page Cache   
$ billion* Government digital payments by 2020 (expected) Estimated govt-to-people payments of the total sum
          Oklahoma Delegation Splits As House Passes Compromise Farm Bill      Cache   Translate Page   Web Page Cache   
The House of Representatives voted Wednesday to pass a five-year farm bill, and Oklahoma's all-Republican House delegation split on the nearly $100 billion-a-year legislation. The measure included small cuts to the food stamps program, and preserved some farm subsidies. The vote in the House was 251-166. U.S. Reps. Tom Cole , Frank Lucas and Markwayne Mullin voted in favor of the measure, while U.S. Reps. Jim Bridenstine and James Lankford voted no. Lucas serves as House Agriculture Committee chairman and has been working on the farm bill since 2011. He called the compromise a "miracle" after years of setbacks. " This is legislation we can all be proud of because it fulfills the expectations the American people have of us," Lucas said in a statement. "The Agricultural Act contributes major savings to deficit reduction, significant reforms to policy, and yet still provides a safety net not only for the production of American food and fiber, but also to ensure our fellow citizens have
          Harris County voters to vote on multi-billion dollar bond referendum 1 year after Hurricane Harvey       Cache   Translate Page   Web Page Cache   
A year after Hurricane Harvey devastated our region, will Harris County voters get out and support a multi-billion dollar bond referendum?
          Four Out Of Five Oklahoma Congressmen Agree: 'Yes' To Farm Bill      Cache   Translate Page   Web Page Cache   
Sixty-two Republicans voted against the five-year, half-trillion-dollar farm bill that would have cute $2 billion annual from food stamps and let states impose broad new work requirements on those who receive them. Freshman U.S. Rep. Jim Bridenstine (R-Okla. 1) was the only Oklahoma congressman to vote against the farm bill.
          8/9/2018: Companies: Pursuit Of Profit: We Valued Interactions with Nooyi: Nelson Peltz      Cache   Translate Page   Web Page Cache   

New Delhi: PepsiCo’s former billionaire investor Nelson Peltz, who canvassed aggressively to split the soda and snacks maker under Indra Nooyi for three years, said he valued the interaction with the outgoing chief executive officer. “Trian Fund...
          8/9/2018: The Edit Page: Indra Nooyi: Lone Star or Role Model?      Cache   Translate Page   Web Page Cache   

In 2006, when Indra Nooyi took over as the CEO of PepsiCo, she shattered the glass ceiling for immigrants and women, becoming one of the world’s most powerful corporate executives heading a business with a billion-plus dollar revenue. At that time,...
          8/9/2018: Around The World: China to Impose Additional 25% Tariffs on $16 Billion of US Goods      Cache   Translate Page   Web Page Cache   

Beijing: China confirmed that it wil l impose 2 5% additional tariffs on $16 billion worth of imports from the US from August 23, matching an earlier move from Washington in another ratchet higher for the trade war between the two nations. The US...
          8/8/2018: FRONT PAGE: Musk tweet on taking Tesla private roils market      Cache   Translate Page   Web Page Cache   
Tesla founder Elon Musk stunned investors when he tweeted Tuesday that he would push to take his all-electric automaker private in a deal worth billions of dollars, further highlighting the unpredictability of the United States’ most valuable car...
          8/8/2018: THE WORLD: Malaysia’s ex-leader faces new charge of money laundering:      Cache   Translate Page   Web Page Cache   
Former prime minister Najib Razak will face a new charge of money laundering over a multibillion-dollar graft scandal at a state investment fund, Malaysia’s anti-corruption agency said. Najib in July pleaded not guilty to abuse of power and three...
          8/8/2018: ECONOMY & BUSINESS: ALSO IN BUSINESS      Cache   Translate Page   Web Page Cache   
Americans increased their borrowing in June at the slowest annual pace in three months as the level of credit card debt fell slightly. The Federal Reserve said Tuesday that consumer debt rose $10.2 billion in June from May to a total of $3.91 trillion....
          8/8/2018: FRONT PAGE: Pipeline may cost $2B more, take year longer      Cache   Translate Page   Web Page Cache   
OTTAWA • Kinder Morgan Canada says expanding the Trans Mountain pipeline could cost the federal government as much as $1.9 billion more than the company’s original construction estimate and could take 12 months longer to complete. The figures are...
          8/8/2018: FP LEGAL POST: Massive filing in Cameco case could signal ‘trench warfare’      Cache   Translate Page   Web Page Cache   
The 700 pages of concluding arguments filed with the Tax Court of Canada (TCC) in Cameco Corporation’s $2.1-billion transfer pricing dispute with the Canada Revenue Agency (CRA) marks a new era of complexity for corporate tax litigation in...
          8/8/2018: FP INVESTING: Icahn warns Cigna investors on takeover      Cache   Translate Page   Web Page Cache   
Carl Icahn is urging Cigna Corp. shareholders to reject the health insurer’s attempted multibillion-dollar takeover of Express Scripts Holding Co., saying it’s paying too much for a company with a shaky future. The billionaire and activist investor...
          China to slap additional tariffs on $16 billion of U.S. goods      Cache   Translate Page   Web Page Cache   

By Ryan Woo and David Lawder

The post China to slap additional tariffs on $16 billion of U.S. goods appeared first on One America News Network.


          Indian regulator clears Walmart’s $16 billion acquisition of Flipkart      Cache   Translate Page   Web Page Cache   

By Sankalp Phartiyal

The post Indian regulator clears Walmart’s $16 billion acquisition of Flipkart appeared first on One America News Network.


          Cordray wants $1.8 billion-plus to tackle Ohio infrastructure needs      Cache   Translate Page   Web Page Cache   

The Columbus Dispatch Randy Ludlow August 2nd, 2018 Say [...]

The post Cordray wants $1.8 billion-plus to tackle Ohio infrastructure needs appeared first on OCIA News.


          The Uninhabitable Earth      Cache   Translate Page   Web Page Cache   


The Uninhabitable Earth
Famine, economic collapse, a sun that cooks us: What climate change could wreak — sooner than you think.

By David Wallace-Wells

In the jungles of Costa Rica, where humidity routinely tops 90 percent, simply moving around outside when it’s over 105 degrees Fahrenheit would be lethal. And the effect would be fast: Within a few hours, a human body would be cooked to death from both inside and out. Fossils by Heartless Machine
July 9, 2017

I. ‘Doomsday’
Peering beyond scientific reticence.

It is, I promise, worse than you think. If your anxiety about global warming is dominated by fears of sea-level rise, you are barely scratching the surface of what terrors are possible, even within the lifetime of a teenager today. And yet the swelling seas — and the cities they will drown — have so dominated the picture of global warming, and so overwhelmed our capacity for climate panic, that they have occluded our perception of other threats, many much closer at hand. Rising oceans are bad, in fact very bad; but fleeing the coastline will not be enough.

Indeed, absent a significant adjustment to how billions of humans conduct their lives, parts of the Earth will likely become close to uninhabitable, and other parts horrifically inhospitable, as soon as the end of this century.

Even when we train our eyes on climate change, we are unable to comprehend its scope. This past winter, a string of days 60 and 70 degrees warmer than normal baked the North Pole, melting the permafrost that encased Norway’s Svalbard seed vault — a global food bank nicknamed “Doomsday,” designed to ensure that our agriculture survives any catastrophe, and which appeared to have been flooded by climate change less than ten years after being built.

The Doomsday vault is fine, for now: The structure has been secured and the seeds are safe. But treating the episode as a parable of impending flooding missed the more important news. Until recently, permafrost was not a major concern of climate scientists, because, as the name suggests, it was soil that stayed permanently frozen. But Arctic permafrost contains 1.8 trillion tons of carbon, more than twice as much as is currently suspended in the Earth’s atmosphere. When it thaws and is released, that carbon may evaporate as methane, which is 34 times as powerful a greenhouse-gas warming blanket as carbon dioxide when judged on the timescale of a century; when judged on the timescale of two decades, it is 86 times as powerful. In other words, we have, trapped in Arctic permafrost, twice as much carbon as is currently wrecking the atmosphere of the planet, all of it scheduled to be released at a date that keeps getting moved up, partially in the form of a gas that multiplies its warming power 86 times over.

Maybe you know that already — there are alarming stories in the news every day, like those, last month, that seemed to suggest satellite data showed the globe warming since 1998 more than twice as fast as scientists had thought (in fact, the underlying story was considerably less alarming than the headlines). Or the news from Antarctica this past May, when a crack in an ice shelf grew 11 miles in six days, then kept going; the break now has just three miles to go — by the time you read this, it may already have met the open water, where it will drop into the sea one of the biggest icebergs ever, a process known poetically as “calving.”


Watch: How Climate Change Is Creating More Powerful Hurricanes

But no matter how well-informed you are, you are surely not alarmed enough. Over the past decades, our culture has gone apocalyptic with zombie movies and Mad Max dystopias, perhaps the collective result of displaced climate anxiety, and yet when it comes to contemplating real-world warming dangers, we suffer from an incredible failure of imagination. The reasons for that are many: the timid language of scientific probabilities, which the climatologist James Hansen once called “scientific reticence” in a paper chastising scientists for editing their own observations so conscientiously that they failed to communicate how dire the threat really was; the fact that the country is dominated by a group of technocrats who believe any problem can be solved and an opposing culture that doesn’t even see warming as a problem worth addressing; the way that climate denialism has made scientists even more cautious in offering speculative warnings; the simple speed of change and, also, its slowness, such that we are only seeing effects now of warming from decades past; our uncertainty about uncertainty, which the climate writer Naomi Oreskes in particular has suggested stops us from preparing as though anything worse than a median outcome were even possible; the way we assume climate change will hit hardest elsewhere, not everywhere; the smallness (two degrees) and largeness (1.8 trillion tons) and abstractness (400 parts per million) of the numbers; the discomfort of considering a problem that is very difficult, if not impossible, to solve; the altogether incomprehensible scale of that problem, which amounts to the prospect of our own annihilation; simple fear. But aversion arising from fear is a form of denial, too.

In between scientific reticence and science fiction is science itself. This article is the result of dozens of interviews and exchanges with climatologists and researchers in related fields and reflects hundreds of scientific papers on the subject of climate change. What follows is not a series of predictions of what will happen — that will be determined in large part by the much-less-certain science of human response. Instead, it is a portrait of our best understanding of where the planet is heading absent aggressive action. It is unlikely that all of these warming scenarios will be fully realized, largely because the devastation along the way will shake our complacency. But those scenarios, and not the present climate, are the baseline. In fact, they are our schedule.

The present tense of climate change — the destruction we’ve already baked into our future — is horrifying enough. Most people talk as if Miami and Bangladesh still have a chance of surviving; most of the scientists I spoke with assume we’ll lose them within the century, even if we stop burning fossil fuel in the next decade. Two degrees of warming used to be considered the threshold of catastrophe: tens of millions of climate refugees unleashed upon an unprepared world. Now two degrees is our goal, per the Paris climate accords, and experts give us only slim odds of hitting it. The U.N. Intergovernmental Panel on Climate Change issues serial reports, often called the “gold standard” of climate research; the most recent one projects us to hit four degrees of warming by the beginning of the next century, should we stay the present course. But that’s just a median projection. The upper end of the probability curve runs as high as eight degrees — and the authors still haven’t figured out how to deal with that permafrost melt. The IPCC reports also don’t fully account for the albedo effect (less ice means less reflected and more absorbed sunlight, hence more warming); more cloud cover (which traps heat); or the dieback of forests and other flora (which extract carbon from the atmosphere). Each of these promises to accelerate warming, and the history of the planet shows that temperature can shift as much as five degrees Celsius within thirteen years. The last time the planet was even four degrees warmer, Peter Brannen points out in The Ends of the World, his new history of the planet’s major extinction events, the oceans were hundreds of feet higher.*

The Earth has experienced five mass extinctions before the one we are living through now, each so complete a slate-wiping of the evolutionary record it functioned as a resetting of the planetary clock, and many climate scientists will tell you they are the best analog for the ecological future we are diving headlong into. Unless you are a teenager, you probably read in your high-school textbooks that these extinctions were the result of asteroids. In fact, all but the one that killed the dinosaurs were caused by climate change produced by greenhouse gas. The most notorious was 252 million years ago; it began when carbon warmed the planet by five degrees, accelerated when that warming triggered the release of methane in the Arctic, and ended with 97 percent of all life on Earth dead. We are currently adding carbon to the atmosphere at a considerably faster rate; by most estimates, at least ten times faster. The rate is accelerating. This is what Stephen Hawking had in mind when he said, this spring, that the species needs to colonize other planets in the next century to survive, and what drove Elon Musk, last month, to unveil his plans to build a Mars habitat in 40 to 100 years. These are nonspecialists, of course, and probably as inclined to irrational panic as you or I. But the many sober-minded scientists I interviewed over the past several months — the most credentialed and tenured in the field, few of them inclined to alarmism and many advisers to the IPCC who nevertheless criticize its conservatism — have quietly reached an apocalyptic conclusion, too: No plausible program of emissions reductions alone can prevent climate disaster.

Over the past few decades, the term “Anthropocene” has climbed out of academic discourse and into the popular imagination — a name given to the geologic era we live in now, and a way to signal that it is a new era, defined on the wall chart of deep history by human intervention. One problem with the term is that it implies a conquest of nature (and even echoes the biblical “dominion”). And however sanguine you might be about the proposition that we have already ravaged the natural world, which we surely have, it is another thing entirely to consider the possibility that we have only provoked it, engineering first in ignorance and then in denial a climate system that will now go to war with us for many centuries, perhaps until it destroys us. That is what Wallace Smith Broecker, the avuncular oceanographer who coined the term “global warming,” means when he calls the planet an “angry beast.” You could also go with “war machine.” Each day we arm it more.

II. Heat Death
The bahraining of New York.

In the sugar­cane region of El Salvador, as much as one-fifth of the population has chronic kidney disease, the presumed result of dehydration from working the fields they were able to comfortably harvest as recently as two decades ago. Photo: Heartless Machine
Humans, like all mammals, are heat engines; surviving means having to continually cool off, like panting dogs. For that, the temperature needs to be low enough for the air to act as a kind of refrigerant, drawing heat off the skin so the engine can keep pumping. At seven degrees of warming, that would become impossible for large portions of the planet’s equatorial band, and especially the tropics, where humidity adds to the problem; in the jungles of Costa Rica, for instance, where humidity routinely tops 90 percent, simply moving around outside when it’s over 105 degrees Fahrenheit would be lethal. And the effect would be fast: Within a few hours, a human body would be cooked to death from both inside and out.

Climate-change skeptics point out that the planet has warmed and cooled many times before, but the climate window that has allowed for human life is very narrow, even by the standards of planetary history. At 11 or 12 degrees of warming, more than half the world’s population, as distributed today, would die of direct heat. Things almost certainly won’t get that hot this century, though models of unabated emissions do bring us that far eventually. This century, and especially in the tropics, the pain points will pinch much more quickly even than an increase of seven degrees. The key factor is something called wet-bulb temperature, which is a term of measurement as home-laboratory-kit as it sounds: the heat registered on a thermometer wrapped in a damp sock as it’s swung around in the air (since the moisture evaporates from a sock more quickly in dry air, this single number reflects both heat and humidity). At present, most regions reach a wet-bulb maximum of 26 or 27 degrees Celsius; the true red line for habitability is 35 degrees. What is called heat stress comes much sooner.

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Actually, we’re about there already. Since 1980, the planet has experienced a 50-fold increase in the number of places experiencing dangerous or extreme heat; a bigger increase is to come. The five warmest summers in Europe since 1500 have all occurred since 2002, and soon, the IPCC warns, simply being outdoors that time of year will be unhealthy for much of the globe. Even if we meet the Paris goals of two degrees warming, cities like Karachi and Kolkata will become close to uninhabitable, annually encountering deadly heat waves like those that crippled them in 2015. At four degrees, the deadly European heat wave of 2003, which killed as many as 2,000 people a day, will be a normal summer. At six, according to an assessment focused only on effects within the U.S. from the National Oceanic and Atmospheric Administration, summer labor of any kind would become impossible in the lower Mississippi Valley, and everybody in the country east of the Rockies would be under more heat stress than anyone, anywhere, in the world today. As Joseph Romm has put it in his authoritative primer Climate Change: What Everyone Needs to Know, heat stress in New York City would exceed that of present-day Bahrain, one of the planet’s hottest spots, and the temperature in Bahrain “would induce hyperthermia in even sleeping humans.” The high-end IPCC estimate, remember, is two degrees warmer still. By the end of the century, the World Bank has estimated, the coolest months in tropical South America, Africa, and the Pacific are likely to be warmer than the warmest months at the end of the 20th century. Air-conditioning can help but will ultimately only add to the carbon problem; plus, the climate-controlled malls of the Arab emirates aside, it is not remotely plausible to wholesale air-condition all the hottest parts of the world, many of them also the poorest. And indeed, the crisis will be most dramatic across the Middle East and Persian Gulf, where in 2015 the heat index registered temperatures as high as 163 degrees Fahrenheit. As soon as several decades from now, the hajj will become physically impossible for the 2 million Muslims who make the pilgrimage each year.

It is not just the hajj, and it is not just Mecca; heat is already killing us. In the sugarcane region of El Salvador, as much as one-fifth of the population has chronic kidney disease, including over a quarter of the men, the presumed result of dehydration from working the fields they were able to comfortably harvest as recently as two decades ago. With dialysis, which is expensive, those with kidney failure can expect to live five years; without it, life expectancy is in the weeks. Of course, heat stress promises to pummel us in places other than our kidneys, too. As I type that sentence, in the California desert in mid-June, it is 121 degrees outside my door. It is not a record high.

III. The End of Food
Praying for cornfields in the tundra.

Climates differ and plants vary, but the basic rule for staple cereal crops grown at optimal temperature is that for every degree of warming, yields decline by 10 percent. Some estimates run as high as 15 or even 17 percent. Which means that if the planet is five degrees warmer at the end of the century, we may have as many as 50 percent more people to feed and 50 percent less grain to give them. And proteins are worse: It takes 16 calories of grain to produce just a single calorie of hamburger meat, butchered from a cow that spent its life polluting the climate with methane farts.

Pollyannaish plant physiologists will point out that the cereal-crop math applies only to those regions already at peak growing temperature, and they are right — theoretically, a warmer climate will make it easier to grow corn in Greenland. But as the pathbreaking work by Rosamond Naylor and David Battisti has shown, the tropics are already too hot to efficiently grow grain, and those places where grain is produced today are already at optimal growing temperature — which means even a small warming will push them down the slope of declining productivity. And you can’t easily move croplands north a few hundred miles, because yields in places like remote Canada and Russia are limited by the quality of soil there; it takes many centuries for the planet to produce optimally fertile dirt.

Drought might be an even bigger problem than heat, with some of the world’s most arable land turning quickly to desert. Precipitation is notoriously hard to model, yet predictions for later this century are basically unanimous: unprecedented droughts nearly everywhere food is today produced. By 2080, without dramatic reductions in emissions, southern Europe will be in permanent extreme drought, much worse than the American dust bowl ever was. The same will be true in Iraq and Syria and much of the rest of the Middle East; some of the most densely populated parts of Australia, Africa, and South America; and the breadbasket regions of China. None of these places, which today supply much of the world’s food, will be reliable sources of any. As for the original dust bowl: The droughts in the American plains and Southwest would not just be worse than in the 1930s, a 2015 NASA study predicted, but worse than any droughts in a thousand years — and that includes those that struck between 1100 and 1300, which “dried up all the rivers East of the Sierra Nevada mountains” and may have been responsible for the death of the Anasazi civilization.

Remember, we do not live in a world without hunger as it is. Far from it: Most estimates put the number of undernourished at 800 million globally. In case you haven’t heard, this spring has already brought an unprecedented quadruple famine to Africa and the Middle East; the U.N. has warned that separate starvation events in Somalia, South Sudan, Nigeria, and Yemen could kill 20 million this year alone.

IV. Climate Plagues
What happens when the bubonic ice melts?

Rock, in the right spot, is a record of planetary history, eras as long as millions of years flattened by the forces of geological time into strata with amplitudes of just inches, or just an inch, or even less. Ice works that way, too, as a climate ledger, but it is also frozen history, some of which can be reanimated when unfrozen. There are now, trapped in Arctic ice, diseases that have not circulated in the air for millions of years — in some cases, since before humans were around to encounter them. Which means our immune systems would have no idea how to fight back when those prehistoric plagues emerge from the ice.

The Arctic also stores terrifying bugs from more recent times. In Alaska, already, researchers have discovered remnants of the 1918 flu that infected as many as 500 million and killed as many as 100 million — about 5 percent of the world’s population and almost six times as many as had died in the world war for which the pandemic served as a kind of gruesome capstone. As the BBC reported in May, scientists suspect smallpox and the bubonic plague are trapped in Siberian ice, too — an abridged history of devastating human sickness, left out like egg salad in the Arctic sun.

Experts caution that many of these organisms won’t actually survive the thaw and point to the fastidious lab conditions under which they have already reanimated several of them — the 32,000-year-old “extremophile” bacteria revived in 2005, an 8 million-year-old bug brought back to life in 2007, the 3.5 million–year–old one a Russian scientist self-injected just out of curiosity — to suggest that those are necessary conditions for the return of such ancient plagues. But already last year, a boy was killed and 20 others infected by anthrax released when retreating permafrost exposed the frozen carcass of a reindeer killed by the bacteria at least 75 years earlier; 2,000 present-day reindeer were infected, too, carrying and spreading the disease beyond the tundra.

What concerns epidemiologists more than ancient diseases are existing scourges relocated, rewired, or even re-evolved by warming. The first effect is geographical. Before the early-modern period, when adventuring sailboats accelerated the mixing of peoples and their bugs, human provinciality was a guard against pandemic. Today, even with globalization and the enormous intermingling of human populations, our ecosystems are mostly stable, and this functions as another limit, but global warming will scramble those ecosystems and help disease trespass those limits as surely as Cortés did. You don’t worry much about dengue or malaria if you are living in Maine or France. But as the tropics creep northward and mosquitoes migrate with them, you will. You didn’t much worry about Zika a couple of years ago, either.

As it happens, Zika may also be a good model of the second worrying effect — disease mutation. One reason you hadn’t heard about Zika until recently is that it had been trapped in Uganda; another is that it did not, until recently, appear to cause birth defects. Scientists still don’t entirely understand what happened, or what they missed. But there are things we do know for sure about how climate affects some diseases: Malaria, for instance, thrives in hotter regions not just because the mosquitoes that carry it do, too, but because for every degree increase in temperature, the parasite reproduces ten times faster. Which is one reason that the World Bank estimates that by 2050, 5.2 billion people will be reckoning with it.

V. Unbreathable Air
A rolling death smog that suffocates millions.


By the end of the century, the coolest months in tropical South America, Africa, and the Pacific are likely to be warmer than the warmest months at the end of the 20th century. Photo: Heartless Machine
Our lungs need oxygen, but that is only a fraction of what we breathe. The fraction of carbon dioxide is growing: It just crossed 400 parts per million, and high-end estimates extrapolating from current trends suggest it will hit 1,000 ppm by 2100. At that concentration, compared to the air we breathe now, human cognitive ability declines by 21 percent.

Other stuff in the hotter air is even scarier, with small increases in pollution capable of shortening life spans by ten years. The warmer the planet gets, the more ozone forms, and by mid-century, Americans will likely suffer a 70 percent increase in unhealthy ozone smog, the National Center for Atmospheric Research has projected. By 2090, as many as 2 billion people globally will be breathing air above the WHO “safe” level; one paper last month showed that, among other effects, a pregnant mother’s exposure to ozone raises the child’s risk of autism (as much as tenfold, combined with other environmental factors). Which does make you think again about the autism epidemic in West Hollywood.

Already, more than 10,000 people die each day from the small particles emitted from fossil-fuel burning; each year, 339,000 people die from wildfire smoke, in part because climate change has extended forest-fire season (in the U.S., it’s increased by 78 days since 1970). By 2050, according to the U.S. Forest Service, wildfires will be twice as destructive as they are today; in some places, the area burned could grow fivefold. What worries people even more is the effect that would have on emissions, especially when the fires ravage forests arising out of peat. Peatland fires in Indonesia in 1997, for instance, added to the global CO2 release by up to 40 percent, and more burning only means more warming only means more burning. There is also the terrifying possibility that rain forests like the Amazon, which in 2010 suffered its second “hundred-year drought” in the space of five years, could dry out enough to become vulnerable to these kinds of devastating, rolling forest fires — which would not only expel enormous amounts of carbon into the atmosphere but also shrink the size of the forest. That is especially bad because the Amazon alone provides 20 percent of our oxygen.

Then there are the more familiar forms of pollution. In 2013, melting Arctic ice remodeled Asian weather patterns, depriving industrial China of the natural ventilation systems it had come to depend on, which blanketed much of the country’s north in an unbreathable smog. Literally unbreathable. A metric called the Air Quality Index categorizes the risks and tops out at the 301-to-500 range, warning of “serious aggravation of heart or lung disease and premature mortality in persons with cardiopulmonary disease and the elderly” and, for all others, “serious risk of respiratory effects”; at that level, “everyone should avoid all outdoor exertion.” The Chinese “airpocalypse” of 2013 peaked at what would have been an Air Quality Index of over 800. That year, smog was responsible for a third of all deaths in the country.

VI. Perpetual War
The violence baked into heat.

Climatologists are very careful when talking about Syria. They want you to know that while climate change did produce a drought that contributed to civil war, it is not exactly fair to saythat the conflict is the result of warming; next door, for instance, Lebanon suffered the same crop failures. But researchers like Marshall Burke and Solomon Hsiang have managed to quantify some of the non-obvious relationships between temperature and violence: For every half-degree of warming, they say, societies will see between a 10 and 20 percent increase in the likelihood of armed conflict. In climate science, nothing is simple, but the arithmetic is harrowing: A planet five degrees warmer would have at least half again as many wars as we do today. Overall, social conflict could more than double this century.

This is one reason that, as nearly every climate scientist I spoke to pointed out, the U.S. military is obsessed with climate change: The drowning of all American Navy bases by sea-level rise is trouble enough, but being the world’s policeman is quite a bit harder when the crime rate doubles. Of course, it’s not just Syria where climate has contributed to conflict. Some speculate that the elevated level of strife across the Middle East over the past generation reflects the pressures of global warming — a hypothesis all the more cruel considering that warming began accelerating when the industrialized world extracted and then burned the region’s oil.

What accounts for the relationship between climate and conflict? Some of it comes down to agriculture and economics; a lot has to do with forced migration, already at a record high, with at least 65 million displaced people wandering the planet right now. But there is also the simple fact of individual irritability. Heat increases municipal crime rates, and swearing on social media, and the likelihood that a major-league pitcher, coming to the mound after his teammate has been hit by a pitch, will hit an opposing batter in retaliation. And the arrival of air-conditioning in the developed world, in the middle of the past century, did little to solve the problem of the summer crime wave.

VII. Permanent Economic Collapse
Dismal capitalism in a half-poorer world.

The murmuring mantra of global neoliberalism, which prevailed between the end of the Cold War and the onset of the Great Recession, is that economic growth would save us from anything and everything.
But in the aftermath of the 2008 crash, a growing number of historians studying what they call “fossil capitalism” have begun to suggest that the entire history of swift economic growth, which began somewhat suddenly in the 18th century, is not the result of innovation or trade or the dynamics of global capitalism but simply our discovery of fossil fuels and all their raw power — a onetime injection of new “value” into a system that had previously been characterized by global subsistence living. Before fossil fuels, nobody lived better than their parents or grandparents or ancestors from 500 years before, except in the immediate aftermath of a great plague like the Black Death, which allowed the lucky survivors to gobble up the resources liberated by mass graves. After we’ve burned all the fossil fuels, these scholars suggest, perhaps we will return to a “steady state” global economy. Of course, that onetime injection has a devastating long-term cost: climate change.

The most exciting research on the economics of warming has also come from Hsiang and his colleagues, who are not historians of fossil capitalism but who offer some very bleak analysis of their own: Every degree Celsius of warming costs, on average, 1.2 percent of GDP (an enormous number, considering we count growth in the low single digits as “strong”). This is the sterling work in the field, and their median projection is for a 23 percent loss in per capita earning globally by the end of this century (resulting from changes in agriculture, crime, storms, energy, mortality, and labor).
Tracing the shape of the probability curve is even scarier: There is a 12 percent chance that climate change will reduce global output by more than 50 percent by 2100, they say, and a 51 percent chance that it lowers per capita GDP by 20 percent or more by then, unless emissions decline. By comparison, the Great Recession lowered global GDP by about 6 percent, in a onetime shock; Hsiang and his colleagues estimate a one-in-eight chance of an ongoing and irreversible effect by the end of the century that is eight times worse.

The scale of that economic devastation is hard to comprehend, but you can start by imagining what the world would look like today with an economy half as big, which would produce only half as much value, generating only half as much to offer the workers of the world. It makes the grounding of flights out of heat-stricken Phoenix last month seem like pathetically small economic potatoes. And, among other things, it makes the idea of postponing government action on reducing emissions and relying solely on growth and technology to solve the problem an absurd business calculation.
Every round-trip ticket on flights from New York to London, keep in mind, costs the Arctic three more square meters of ice.

VIII. Poisoned Oceans
Sulfide burps off the skeleton coast.

That the sea will become a killer is a given. Barring a radical reduction of emissions, we will see at least four feet of sea-level rise and possibly ten by the end of the century. A third of the world’s major cities are on the coast, not to mention its power plants, ports, navy bases, farmlands, fisheries, river deltas, marshlands, and rice-paddy empires, and even those above ten feet will flood much more easily, and much more regularly, if the water gets that high. At least 600 million people live within ten meters of sea level today.

But the drowning of those homelands is just the start. At present, more than a third of the world’s carbon is sucked up by the oceans — thank God, or else we’d have that much more warming already. But the result is what’s called “ocean acidification,” which, on its own, may add a half a degree to warming this century. It is also already burning through the planet’s water basins — you may remember these as the place where life arose in the first place. You have probably heard of “coral bleaching” — that is, coral dying — which is very bad news, because reefs support as much as a quarter of all marine life and supply food for half a billion people. Ocean acidification will fry fish populations directly, too, though scientists aren’t yet sure how to predict the effects on the stuff we haul out of the ocean to eat; they do know that in acid waters, oysters and mussels will struggle to grow their shells, and that when the pH of human blood drops as much as the oceans’ pH has over the past generation, it induces seizures, comas, and sudden death.

That isn’t all that ocean acidification can do. Carbon absorption can initiate a feedback loop in which underoxygenated waters breed different kinds of microbes that turn the water still more “anoxic,” first in deep ocean “dead zones,” then gradually up toward the surface. There, the small fish die out, unable to breathe, which means oxygen-eating bacteria thrive, and the feedback loop doubles back. This process, in which dead zones grow like cancers, choking off marine life and wiping out fisheries, is already quite advanced in parts of the Gulf of Mexico and just off Namibia, where hydrogen sulfide is bubbling out of the sea along a thousand-mile stretch of land known as the “Skeleton Coast.” The name originally referred to the detritus of the whaling industry, but today it’s more apt than ever. Hydrogen sulfide is so toxic that evolution has trained us to recognize the tiniest, safest traces of it, which is why our noses are so exquisitely skilled at registering flatulence. Hydrogen sulfide is also the thing that finally did us in that time 97 percent of all life on Earth died, once all the feedback loops had been triggered and the circulating jet streams of a warmed ocean ground to a halt — it’s the planet’s preferred gas for a natural holocaust. Gradually, the ocean’s dead zones spread, killing off marine species that had dominated the oceans for hundreds of millions of years, and the gas the inert waters gave off into the atmosphere poisoned everything on land. Plants, too. It was millions of years before the oceans recovered.

IX. The Great Filter
Our present eeriness cannot last.

So why can’t we see it? In his recent book-length essay The Great Derangement, the Indian novelist Amitav Ghosh wonders why global warming and natural disaster haven’t become major subjects of contemporary fiction — why we don’t seem able to imagine climate catastrophe, and why we haven’t yet had a spate of novels in the genre he basically imagines into half-existence and names “the environmental uncanny.” “Consider, for example, the stories that congeal around questions like, ‘Where were you when the Berlin Wall fell?’ or ‘Where were you on 9/11?’ ” he writes. “Will it ever be possible to ask, in the same vein, ‘Where were you at 400 ppm?’ or ‘Where were you when the Larsen B ice shelf broke up?’ ” His answer: Probably not, because the dilemmas and dramas of climate change are simply incompatible with the kinds of stories we tell ourselves about ourselves, especially in novels, which tend to emphasize the journey of an individual conscience rather than the poisonous miasma of social fate.

Surely this blindness will not last — the world we are about to inhabit will not permit it. In a six-degree-warmer world, the Earth’s ecosystem will boil with so many natural disasters that we will just start calling them “weather”: a constant swarm of out-of-control typhoons and tornadoes and floods and droughts, the planet assaulted regularly with climate events that not so long ago destroyed whole civilizations. The strongest hurricanes will come more often, and we’ll have to invent new categories with which to describe them; tornadoes will grow longer and wider and strike much more frequently, and hail rocks will quadruple in size. Humans used to watch the weather to prophesy the future; going forward, we will see in its wrath the vengeance of the past. Early naturalists talked often about “deep time” — the perception they had, contemplating the grandeur of this valley or that rock basin, of the profound slowness of nature. What lies in store for us is more like what the Victorian anthropologists identified as “dreamtime,” or “everywhen”: the semi-mythical experience, described by Aboriginal Australians, of encountering, in the present moment, an out-of-time past, when ancestors, heroes, and demigods crowded an epic stage. You can find it already watching footage of an iceberg collapsing into the sea — a feeling of history happening all at once.

It is. Many people perceive climate change as a sort of moral and economic debt, accumulated since the beginning of the Industrial Revolution and now come due after several centuries — a helpful perspective, in a way, since it is the carbon-burning processes that began in 18th-century England that lit the fuse of everything that followed. But more than half of the carbon humanity has exhaled into the atmosphere in its entire history has been emitted in just the past three decades; since the end of World War II, the figure is 85 percent. Which means that, in the length of a single generation, global warming has brought us to the brink of planetary catastrophe, and that the story of the industrial world’s kamikaze mission is also the story of a single lifetime. My father’s, for instance: born in 1938, among his first memories the news of Pearl Harbor and the mythic Air Force of the propaganda films that followed, films that doubled as advertisements for imperial-American industrial might; and among his last memories the coverage of the desperate signing of the Paris climate accords on cable news, ten weeks before he died of lung cancer last July. Or my mother’s: born in 1945, to German Jews fleeing the smokestacks through which their relatives were incinerated, now enjoying her 72nd year in an American commodity paradise, a paradise supported by the supply chains of an industrialized developing world. She has been smoking for 57 of those years, unfiltered.

Or the scientists’. Some of the men who first identified a changing climate (and given the generation, those who became famous were men) are still alive; a few are even still working. Wally Broecker is 84 years old and drives to work at the Lamont-Doherty Earth Observatory across the Hudson every day from the Upper West Side. Like most of those who first raised the alarm, he believes that no amount of emissions reduction alone can meaningfully help avoid disaster. Instead, he puts his faith in carbon capture — untested technology to extract carbon dioxide from the atmosphere, which Broecker estimates will cost at least several trillion dollars — and various forms of “geoengineering,” the catchall name for a variety of moon-shot technologies far-fetched enough that many climate scientists prefer to regard them as dreams, or nightmares, from science fiction. He is especially focused on what’s called the aerosol approach — dispersing so much sulfur dioxide into the atmosphere that when it converts to sulfuric acid, it will cloud a fifth of the horizon and reflect back 2 percent of the sun’s rays, buying the planet at least a little wiggle room, heat-wise. “Of course, that would make our sunsets very red, would bleach the sky, would make more acid rain,” he says. “But you have to look at the magnitude of the problem. You got to watch that you don’t say the giant problem shouldn’t be solved because the solution causes some smaller problems.” He won’t be around to see that, he told me. “But in your lifetime …”

Jim Hansen is another member of this godfather generation. Born in 1941, he became a climatologist at the University of Iowa, developed the groundbreaking “Zero Model” for projecting climate change, and later became the head of climate research at NASA, only to leave under pressure when, while still a federal employee, he filed a lawsuit against the federal government charging inaction on warming (along the way he got arrested a few times for protesting, too). The lawsuit, which is brought by a collective called Our Children’s Trust and is often described as “kids versus climate change,” is built on an appeal to the equal-protection clause, namely, that in failing to take action on warming, the government is violating it by imposing massive costs on future generations; it is scheduled to be heard this winter in Oregon district court. Hansen has recently given up on solving the climate problem with a carbon tax alone, which had been his preferred approach, and has set about calculating the total cost of the additional measure of extracting carbon from the atmosphere.

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Climate Scientist James Hansen: ‘The Planet Could Become Ungovernable’
The 10-Book ‘Uninhabitable Earth’ Reading List
Hansen began his career studying Venus, which was once a very Earth-like planet with plenty of life-supporting water before runaway climate change rapidly transformed it into an arid and uninhabitable sphere enveloped in an unbreathable gas; he switched to studying our planet by 30, wondering why he should be squinting across the solar system to explore rapid environmental change when he could see it all around him on the planet he was standing on. “When we wrote our first paper on this, in 1981,” he told me, “I remember saying to one of my co-authors, ‘This is going to be very interesting. Sometime during our careers, we’re going to see these things beginning to happen.’ ”

Several of the scientists I spoke with proposed global warming as the solution to Fermi’s famous paradox, which asks, If the universe is so big, then why haven’t we encountered any other intelligent life in it? The answer, they suggested, is that the natural life span of a civilization may be only several thousand years, and the life span of an industrial civilization perhaps only several hundred. In a universe that is many billions of years old, with star systems separated as much by time as by space, civilizations might emerge and develop and burn themselves up simply too fast to ever find one another. Peter Ward, a charismatic paleontologist among those responsible for discovering that the planet’s mass extinctions were caused by greenhouse gas, calls this the “Great Filter”: “Civilizations rise, but there’s an environmental filter that causes them to die off again and disappear fairly quickly,” he told me. “If you look at planet Earth, the filtering we’ve had in the past has been in these mass extinctions.” The mass extinction we are now living through has only just begun; so much more dying is coming.

And yet, improbably, Ward is an optimist. So are Broecker and Hansen and many of the other scientists I spoke to. We have not developed much of a religion of meaning around climate change that might comfort us, or give us purpose, in the face of possible annihilation. But climate scientists have a strange kind of faith: We will find a way to forestall radical warming, they say, because we must.

It is not easy to know how much to be reassured by that bleak certainty, and how much to wonder whether it is another form of delusion; for global warming to work as parable, of course, someone needs to survive to tell the story. The scientists know that to even meet the Paris goals, by 2050, carbon emissions from energy and industry, which are still rising, will have to fall by half each decade; emissions from land use (deforestation, cow farts, etc.) will have to zero out; and we will need to have invented technologies to extract, annually, twice as much carbon from the atmosphere as the entire planet’s plants now do. Nevertheless, by and large, the scientists have an enormous confidence in the ingenuity of humans — a confidence perhaps bolstered by their appreciation for climate change, which is, after all, a human invention, too. They point to the Apollo project, the hole in the ozone we patched in the 1980s, the passing of the fear of mutually assured destruction. Now we’ve found a way to engineer our own doomsday, and surely we will find a way to engineer our way out of it, one way or another. The planet is not used to being provoked like this, and climate systems designed to give feedback over centuries or millennia prevent us — even those who may be watching closely — from fully imagining the damage done already to the planet. But when we do truly see the world we’ve made, they say, we will also find a way to make it livable. For them, the alternative is simply unimaginable.

*This article appears in the July 10, 2017, issue of New York Magazine.

*This article has been updated to provide context for the recent news reports about revisions to a satellite data set, to more accurately reflect the rate of warming during the Paleocene–Eocene Thermal Maximum, to clarify a reference to Peter Brannen’s The Ends of the World, and to make clear that James Hansen still supports a carbon-tax based approach to emissions.


          Global Medical Robots Market 2018-2023 with DROC Analysis - Key Players are Intuitive Surgical, Stryker Corporation, and Mazor Robotics      Cache   Translate Page   Web Page Cache   

DUBLIN, Aug. 8, 2018 /PRNewswire/ -- The "Medical Robots Market by Product, Application, and Region - Global Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering. The medical robots market is projected to reach USD 16.74 billion by 2023 from an estimated USD 6.46...


          China to slap additional tariffs on $16 bln worth of U.S. goods      Cache   Translate Page   Web Page Cache   
China is imposing additional import tariffs of 25 percent on $16 billion worth of U.S. goods, ranging from oil and steel products to autos and medical equipment. Tara Cleary reports.

          U.S. finalizes next China tariff list      Cache   Translate Page   Web Page Cache   
The United States will begin collecting 25 percent tariffs on another $16 billion in Chinese goods on Aug. 23, the U.S. Trade Representative's office said on Tuesday as it published a final tariff list targeting 279 imported product lines. Grace Lee reports.

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          Stocks go nowhere as US-China trade war drags energy lower      Cache   Translate Page   Web Page Cache   

trump china xi

Stocks were mixed Wednesday despite a recent wave of upbeat corporate earnings as a new round of tariffs between the US and China dragged energy companies lower. The dollar and Treasury yields fell. 

Here's the scoreboard:

Dow Jones industrial average25,583.55 −45.36 (-0.18%)

S&P 500: 2,861.20 +2.75 (+0.096%)

Nasdaq Composite 7,888.33 +4.66 (+0.06%)

  1. Another $16 billion worth of US exports to China — including oil products and cars — will be subject to a 25% tax. After the Trump administration followed through with a 25% tariff on an additional $16 billion of Chinese goods, Beijing retaliated in kind. The latest tariffs, which bring the running total of targeted goods to $50 billion for both China and the US, are set to take effect August 23.
  2. Washington rolled out punitive sanctions against Moscow for the poisoning of ex-spy Sergei Skripal and his daughter in March. The measures came amid pressure from Congress and months after the UK issued sanctions penalizing the Kremlin for the poisoning, which took place on British soil.
  3. Saudi Arabia's central bank ordered its fund managers to dump Canadian bonds, stocks and cash. The move came after Canada's foreign ministry criticized Saudi Arabia for its arrests of prominent human-rights activists and called for their release. Saudi Arabia's state airline is also set to suspend flights to and from Toronto Pearson International beginning next week. 
  4. Earnings season rolls on. 21st Century Fox and Roku report after the bell — follow Business Insider here for live updates. 

And a look at the upcoming economic calendar:

SEE ALSO: Tesla's surging stock has cost short sellers $3 billion this month

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          The SEC has reportedly made inquiries into Tesla about Elon Musk's tweet regarding possibly taking the company private (TSLA)      Cache   Translate Page   Web Page Cache   

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  • The Securities and Exchange Commission made an inquiry into Tesla about whether one of Elon Musk's tweets regarding the possibility of taking the company private was truthful, The Wall Street Journal reported Wednesday.
  • According to the publication, the SEC is also looking into why Musk's first statement about the potential of taking Tesla private was made on Twitter instead of in a regulatory filing.
  • The agency also asked the company whether it believes Musk's tweet follows SEC rules about protecting investors, The Journal reported.
  • "Am considering taking Tesla private at $420. Funding secured," Musk said on Tuesday via Twitter before issuing a formal statement on Tesla's website.
  • The SEC declined Business Insider's request for comment, and Tesla did not immediately respond to a request for comment. 

The Securities and Exchange Commission made an inquiry into Tesla about whether one of Elon Musk's tweets regarding the possibility of taking the company private was truthful, The Wall Street Journal reported Wednesday, citing people familiar with the matter.

According to the publication, the SEC is also looking into why Musk's first statement about the potential of taking Tesla private was made on Twitter instead of in a regulatory filing. The agency also asked the company whether it believes Musk's tweet follows SEC rules about protecting investors, The Journal reported.

The SEC declined Business Insider's request for comment, and Tesla did not immediately respond to a request for comment.

"Am considering taking Tesla private at $420. Funding secured," Musk said on Tuesday via Twitter before issuing a formal statement on Tesla's website.

Tesla's share price surged after the tweet, rising by as much as 12%, to over $381, before trading closed.

No details about funding have been disclosed though. And according to Musk's statement, no final decision has been made. And that has some experts raising an eyebrow.

James Rosener, a partner at the law firm Pepper Hamilton, told Business Insider that Twitter was not the right medium for a securities disclosure since the platform's 280-character limit prevented Musk from disclosing enough information relevant to investors — including the structure of the deal, its tax impact, and the amount of debt it would require — to ensure he's not misleading them.

According to Rosener, Musk's tweet likely ran afoul of the SEC's anti-fraud rules.

"There's definitely material omissions," Rosener said. "Clearly, it was not what any lawyer with any experience in this kind of stuff would advise to put out."

David Whiston, an equity strategist at Morningstar who covers the US auto industry, said he was confused by Musk's tweets, which he said indicated Musk had both the funding and the shareholder votes necessary to take the company private.

"I'm still trying to understand why he even went public like this," Whiston said, "because I don't see a point in going public to say you are considering going private unless you're trying to get, perhaps, the price higher than $420 a share, or you're just really eager to hurt the short-sellers. Otherwise, why wouldn't you just wait until you're definitely doing a deal to say something?"

Tesla's board released a statement on Wednesday morning, but it was very brief and offered few details besides that Musk met with the board last week to bring up the possibility of going private. Musk said via Twitter on Tuesday that the deal was contingent on a shareholder vote but that "investor support is confirmed."

Tesla has been public since 2010, but Musk has said in the past that he would like to take Tesla private.

"I wish we could be private with Tesla," Musk said in an interview with Rolling Stone published in November. "It actually makes us less efficient to be a public company."

Musk has also said on multiple occasions that Tesla will become profitable by the end of this year and won't need to raise additional funds, despite its increased cash-burn rate in recent quarters.

At the end of June, Tesla said it achieved its goal of making 5,000 Model 3 sedans in one week. Musk previously said that the company would hit that number by the end of 2017 and that sustaining such a production rate is critical for Tesla to become profitable.

The Financial Times reported on Tuesday that Saudi Arabia's sovereign wealth fund had acquired a $2 billion stake in the company. The fund owns between 3% and 5% of Tesla's total stock, meaning the stake is likely worth $1.7 billion to $2.9 billion.

Read The Wall Street Journal's full story here.

Have a Tesla news tip? Contact this reporter at mmatousek@businessinsider.com.

Read more about Tesla possibly going private:

SEE ALSO: Elon Musk boosted his net worth by $1.4 billion with just one short tweet

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          What you need to know on Wall Street today      Cache   Translate Page   Web Page Cache   

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

Mutual funds are bleeding cash at an unprecedented rate, warns Moody's 

It's not getting any easier for stock pickers to hold on to their clients.

According to Moody's, investors have pulled cash from actively managed equity mutual funds in the US at the fastest year-to-date pace on record. The funds lost $129.11 billion of investor dollars from January to July, up from $99.88 billion a year earlier, data compiled by the Investment Company Institute and cited by Moody's show.

The flight of money away from managers who meticulously pick stocks and to exchange-traded funds is happening a bit faster than Moody's had forecast. The market share of passive investments last year was nearly 35%, more than the credit-rating agency's estimate of 34%.

Elon Musk reportedly met with Japan's SoftBank last year about taking Tesla private

Tesla's chief executive Elon Musk met with SoftBank CEO Masayoshi Son in April 2017 about the Japanese investment firm assisting in taking Tesla private, Bloomberg reported Wednesday.

The report came the day after Musk said he was considering taking Tesla private and that funding had been secured, but did not offer any specifics about the unprecedented move.

Bloomberg reported that Musk and Son failed to reach an agreement over the structure of the company, citing sources. Tesla was trading around $300 per share in April 2017 when the talks reportedly fell through. The talks are no longer underway, Bloomberg said.

One in 2 ICOs failed in the 2nd quarter — and those that succeeded suffered huge losses

Money continues to flood into the booming market for digital tokens issued by startups despite declines both in the quality of the projects seeking funding and in the investment returns, according to a new report.

Fifty-five percent of so-called initial coin offerings failed to complete in the second quarter, according to a report from the agency ICORating. That was 5% more than failed in the first quarter.

ICOs are a fundraising method in which companies and projects issue digital tokens structured like bitcoin or Ethereum. These tokens are sold in return for cash used to fund the development of the seller's businesses. ICOs exploded from almost nothing to be a multibillion-dollar market in 2017, surging in popularity alongside the rise in the price of bitcoin.

In markets news

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NOW WATCH: The CEO of one of the largest health insurers in the US explains the problem with healthcare in America


          We spoke with the woman shaking up GM’s health plans, and what she said should terrify health insurers (GM)      Cache   Translate Page   Web Page Cache   

mary barra general motors

  • Employers like GM are starting to question the role health insurers play in the healthcare they provide for their employees. 
  • GM is a self-insured employer, which means that it foots the bill for the healthcare its employees use. Starting in 2019, the company will offer its salaried employees in Southeast Michigan a plan that works directly with Henry Ford Health System, cutting out much of the role insurers typically play in setting up health plans. 
  • The move is part of GM's US healthcare leader Sheila Savageau's strategy to get healthcare plans for the carmaker's employees that are more tailored to their specific needs. 

Large employers are starting to put healthcare middlemen on notice. 

That includes one of the largest carmakers in the world. In 2019, General Motors will offer its salaried employees in Southeast Michigan a plan that works directly with Henry Ford Health System, covering about 24,000 employees and their families.

It's a different arrangement for the carmaker. Instead of using a health insurer, GM negotiated the terms of its plan with the hospital system directly, an agreement dubbed a "direct-to-employer" contract. 

For many Americans, their employers are the ones picking up the tab. More than half of the non-elderly population is covered by an employer-sponsored plan, and almost 80% of large companies are self-insured. As healthcare costs go up, employers are the ones feeling the pressure. And some are starting to get fed up.

GM's US healthcare leader Sheila Savageau's approach: strike up more direct relationships with the products and services GM's employees are using, rather than relying on other companies like health insurers or pharmacy benefit managers — which are responsible for negotiating lower drug prices —  to do it for her. Savageau was behind the direct-to-employer contract with Henry Ford. 

Cutting out middlemen that are part of the employer health benefits picture has been on her mind for a while now, especially when it comes to keeping down prescription drug costs. 

"I've asked myself for quite a while now, 'Well, why am I going to the pharmacy benefit manager? Why wouldn't I go directly to a manufacturer? What services do I need from the pharmacy benefit manager? Can I get those and use them as more of a third-party administrator? Could I set those services up myself?'" she told BI in an interview. 

For Savageau, the best way to start was by working directly with a health system so that she could ensure doctors would be motivated to keep GM's employees healthy. 

"For years I've been going, 'How do we get to the physician to start controlling some of those expenses coming down the pike?'" she said. 

Downgrading the role of insurers by working more directly with health systems or drugmakers could be the approach taken by employers like JPMorgan, Amazon, and Berkshire Hathaway, which formed an independent venture aimed at lowering healthcare costs for their employees.

One of the strategies the venture could take is to create its own alternative health plan built around their priorities, much like GM's doing. 

"We're already the insurance company, we're already making these decisions, and we simply want do a better job," JPMorgan CEO Jamie Dimon told Business Insider in February.

The changing role of health insurers for self-insured employers

Under GM's Henry Ford Health System plan, GM's insurer Blue Cross Blue Shield of Michigan will still be involved to process claims and some customer service inquiries, though it didn't have a hand in setting up the plan and its benefits.

Instead, GM did that directly with the health system. It's a departure from the model in which a health insurer does most of the plan structuring for the employer, referred to as a carrier model. 

"I get concerned with the carrier based model, and the reason I do is because it serves to benefit GM members and/or families," Savageau said. "With the direct contract, the difference is, I know my data, and that contract is directly around the improvements I want to see around my GM population." But when it comes to a health insurance company setting up the plan, it might have goals that aren't going to ultimately benefit GM's employees.

Ultimately, Savageau answers to GM's chief financial officer, who asks what GM's doing to manage their healthcare spending. It keeps her looking a few years out to see what else the company can do. It doesn't help that companies in the healthcare industry are also thinking of new ways to make money off the system. 

"They're being as creative as I'm being," she said. 

SEE ALSO: A hot startup could be the perfect model for the JPMorgan-Amazon-Berkshire Hathaway healthcare initiative

DON'T MISS: CARL ICAHN: The $67 billion Cigna-Express Scripts merger may 'rival the worst acquisitions in corporate history'

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          Elon Musk reportedly met with Japan's SoftBank last year about taking Tesla private (TSLA)      Cache   Translate Page   Web Page Cache   

softbank masayoshi son

  • Tesla CEO Elon Musk met with SoftBank CEO Masayoshi Son about taking the electric-car maker private last year, Bloomberg reports.
  • The news comes one day after Musk said he was considering taking Tesla private.
  • SoftBank has previously invested in Uber, Nvidia and GM's Cruise. 
  • Follow Tesla's stock price in real-time here. 

Tesla's chief executive Elon Musk met with SoftBank CEO Masayoshi Son in April 2017 about the Japanese investment firm assisting in taking Tesla private, Bloomberg reported Wednesday.

The report came the day after Musk said he was considering taking Tesla private and that funding had been secured, but did not offer any specifics about the unprecedented move.

Bloomberg's Selina Wang and Giles Turner reported that Musk and Son failed to reach an agreement over the structure of the company, citing sources. Tesla was trading around $300 per share in April 2017 when the talks reportedly fell through. The talks are no longer underway, Bloomberg said.

SoftBank and its $100 billion Vision Fund have made a slew of investments in tech firms around the world. So far, it has bought a 20% stake in GM's Cruise autonomous driving unit and made smaller investments in Uber, Nvidia, WeWork, and more. 

Musk tweeted on Tuesday that he would like to leave public markets at $420 per share — a 20% upside to their price that day. At that price, and given Musk's 20% stake in Tesla, roughly $60 billion would be needed to go private. 

Also on Tuesday, the Financial Times reported that Saudi Arabia's public investment fund — a major backer of SoftBank's fund — had invested roughly $2 billion in Tesla for a stake representing 3% to 5% of the company.

Shares of Tesla skyrocketed Tuesday when the plan was announced, but sank about 1.5% in trading Wednesday.

A Tesla spokesperson declined to comment. 

Read the full Bloomberg report here>>

TEsla stock price

SEE ALSO: SoftBank will invest $2.25 billion in GM's Cruise self-driving-car division

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          Taking Tesla private would be the largest buyout in history — but maybe not much money would change hands (TSLA)      Cache   Translate Page   Web Page Cache   

elon musk

  • If Tesla goes private at over $80 billion, it would be the largest buyout in history.
  • But we don't know enough about a potential deal to rule out a less expensive strategy.
  • CEO Elon Musk could be thinking only about financing the possible exit of Tesla retail investors while converting institutional stakes into private shares.


It looks like Tesla CEO Elon Musk is serious about taking Tesla private

Already, the gyrations among observers of the company have begun — for good reason, given that the deal would come in at north of $80 billion if Musk's $420-per-share valuation is to be believed. That would be combined with Tesla's existing debt.

Bloomberg's Matt Levine has thrashed through the mechanics, such as they are. He basically hits on the salient issue, which is how Tesla current group of shareholders could transition from owning a public company to owning a private one:

So Tesla would be owned by the same number of shareholders, in the same proportions as now? But it would somehow be … private? I don’t … think … that’s how … any of this … like, if you have thousands of retail shareholders, you’re still giving them quarterly 10-Qs. That’s what being public means. It means being open to unlimited numbers of retail shareholders. And the securities laws, in their wisdom, say that if you do that then you need to give them quarterly earnings information.

Musk owns 20% of Tesla and says he isn't selling. Big institutional investors such as Fidelity and T. Rowe Price own other major chunks. The Saudi sovereign wealth funds and China's Tencent have about 10%. I doubt they'd be selling, either.

Retail investors have about 15%, and they could be key to how a deal gets done. 

I'm gyrating myself here, but it sounds like what Musk wants to do is create a sort of bridge financing plan to shift major public shareholders and himself — 80% of the pie — to private status. If I work with round numbers and concentrate on just the equity piece of $70 billion, assuming that only Tesla's $1.8 billion in junk bonds could be tricky, then that takes care of around $56 billion in public value.

That's assuming all the big investors think $420 per share is too low and would be willing to hang in there for the long term.

So Musk only needs to finance $14 billion on the equity side to buy out 100% of whatever skittish retail investors might want to exit. 

That looks much less intimidating than $80 billion. 

I'm not financially deep-dish enough to know how $80 billion in financing would need to be generated for, say, a day or two to facilitate the transaction. I'm pretty sure some type of vehicle would need to be legally established. 

This pretend money would I guess by agreement value Tesla at $420 per share. The risk would be that every retail investor dashes, but that seems unlikely, especially if the major shareholders consent to the deal and the Tesla board approves it. Follow the leaders.

At that point, Tesla's ongoing value would be gauged by follow-on investment in some kind of special fund, whatever happens with its debt (Maybe it all gets paid off via some additional financing?), and the frequency and scale of transactions in the private markets, which Musk suggested could be six-month "liquidity events."

What makes this work, potentially, is the size of Musk's and his big investors' stakes relative to the deal size. Presumably, all or most have to go along with the idea. Short-sellers would have to cover up to the buyout price.

Yes, this all sounds quite crazy. But also doable.

 

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          A $160 million corruption scandal in Argentina is roiling its financial markets      Cache   Translate Page   Web Page Cache   

AP_18214581009751

  • More than a dozen former Argentine government officials and business executives have been arrested in a large scale corruption scandal.
  • The investigation is throwing Argentina upside down just as it gears up for economic recovery. 
  • Watch the Argentine peso trade in real time here.

Just as Argentina looked poised for a shot at economic recovery, a corruption scandal is roiling the embattled country.

More than a dozen former government officials and business executives were arrested after police raids last week in a case involving illegal payments for favors including public-works contracts that took place over a decade under President Cristina Fernandez de Kirchner.

The century bond, which marks debts due in 2117, fell to a record low Wednesday. Its yields, which move opposite of prices, rose to as high as 9.37%. They have jumped by about 38 basis points since the end of July, when the corruption allegations came to light.

The Argentine peso also fell to a two-week low. It was trading down as much as 1% to 27.6710 against the dollar around 2 p.m. ET. Argentina's central bank, which has been struggling to effectively combat 30% inflation, had a day earlier held its key interest rate unchanged at 40%. 

Last Wednesday, Buenos Aires-based newspaper La Nacion published the notebooks of a former driver in the Fernandez administration that detailed how he transported roughly $160 million in bribe payments from construction companies to government officials from 2005 until 2015. 

Fernandez, who was president during much of that period, has been indicted in the case but enjoys immunity from prosecution as an Argentine senator. Prosecutors on Tuesday questioned President Mauricio Macri's cousin, who is a construction executive.

Argentina scored the largest bailout in IMF history earlier this year after its currency hit an all-time low. The $50 billion loan, which is part of a three-year standby program, was extended in attempt to rein in soaring twin deficits in the country and to stabilize the peso.

Moody's rating agency called the scandal "credit negative for Argentine corporations."

See also:

MOODY'S WARNS: Mutual funds are bleeding cash at an unprecedented rate, and they're increasingly vulnerable to the next market meltdown

SEE ALSO: ROUND 2: US, China announce newest round of tariffs as Trump's trade war shows no sign of slowing down

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          Snap sinks to a 2-month low as fewer people use Snapchat every day (SNAP)      Cache   Translate Page   Web Page Cache   

Snap stock price earnings active users

  • Snap reported its first-ever decline in daily active users on Tuesday.
  • Shares initially popped 10% after the company said it lost less money than Wall Street expected, but sank when markets opened Wednesday.
  • Follow Snap's stock price in real-time here. 

Shares of Snap sank more than 6% Wednesday, falling to their lowest price since June, after the company reported active user numbers that disappointed investors.

For the second quarter, Snap said its total losses per share were smaller than Wall Street had feared and that revenue was more than analysts had expected. However, the company also saw its first-ever decline in daily active users.

Shares initially popped as much as 11% following the earnings report — which coincided with news that Saudi Arabia's Prince Alwaleed had invested $250 million for a 2.3% stake in the company — before sinking into the red early Wednesday as traders digested what the falling active users metric might mean for Snapchat's future.

Also weighing on the slumping share price Wednesday was the leak of some of Snapchat's source code on GitHub, a code-hosting side recently acquired by Microsoft. The forum quickly complied with a  DMCA takedown request, but not before the snippet could be downloaded and shared widely.

"While our monthly active users continue to grow this quarter, we saw 2% decline in our daily active users," CEO Evan Spiegel said on a conference call with analysts.

He added: "This was primarily driven by a slightly lower frequency of use among our user base due to the disruption caused by our redesign. It has been approximately six months since we broadly rolled out the redesign of our application and we have been working hard to iterate and improve Snapchat based on the feedback from our community. We feel that we have now addressed the biggest frustrations we’ve heard and are eager to make more progress on the tremendous opportunity we now have to show more of the right content to the right people."

Snap is now trading more than 50% off its first trading price when it went public in March 2017, and Wall Street thinks it will only sink more. Analysts polled by Bloomberg give the stock an average price target of $11.76.

Now read:

Snap stock price

SEE ALSO: A Saudi prince now owns $250 million worth of Snap, making him one of its biggest investors (SNAP)

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NOW WATCH: Cigna's CEO says that the problem with healthcare in America has nothing to do with employers


          Map of a billion brain links reveals clues about how we think      Cache   Translate Page   Web Page Cache   
Scientists have created an elaborate map of more than a billion brain cell connections, helping to shed light on how memories are formed and recalled. Their complex series of images are the first to illustrate how these vital connections are organised and could impact on our fundamental understanding of the brain.
          China is betting billions on unproven electric car startups      Cache   Translate Page   Web Page Cache   
China is betting big on home-grown electric car startups like Alibaba-backed Xiaopeng Motors—valued at $3.6 billion—that have yet to produce a single vehicle.
          Jeffrey Katzenberg Raises $1 Billion for His Latest Project — Fox, Disney, NBCU, Viacom and WarnerMedia Are All In      Cache   Translate Page   Web Page Cache   
Former Disney and Dreamworks executive Jeffrey Katzenberg is generating some serious funding for a project he says will combine the “best of Silicon Valley and Hollywood.” Katzenberg’s WndrCo announced that it has hit the $1 billion mark in fundraising efforts...
          WndrCo Announces Initial Capital Raise of $1 Billion for New Media Platform      Cache   Translate Page   Web Page Cache   
Press release from WndrCo, Aug. 7, 2018: WndrCo announced today that it had closed an initial funding round for “NewTV” [working title], raising $1 billion. Led by Meg Whitman and Jeffrey Katzenberg, NewTV brings together the best of Silicon Valley...
          The $250 Biohack That's Revolutionizing Life With Diabetes      Cache   Translate Page   Web Page Cache   
DIYers used a security flaw to bypass the $8.3 billion insulin delivery business with a cobbled-together artificial pancreas.
          Slog AM: Washington Farmers Sweat New Chinese Tariffs, Man with Fake Charities Sued by Bob Ferguson, What's Up with Canada and Saudi Arabia?      Cache   Translate Page   Web Page Cache   
Amazon capitalizes on convenience, Rep. Collins indicted, election night by Nathalie Graham

Saudi Arabia puts Canada on blast for its human rights violations... wait.
Saudi Arabia puts Canada on blast for its human rights violations... wait. studio-laska / Getty Images

China’s retaliatory tariffs are no good for Washington farmers: The farmers are anxious. More than $480 million worth of Washington agricultural exports are impacted by Chinese tariffs, reports KING 5. China struck back against Trump’s latest tariffs. It slapped $16 million of tariffs on American goods.

New Yorker sued by WA AG for fake charities: This guy, a New York stockbroker, is heavily involved with organized crime. He’s being sued by Washington State attorney general Bob Ferguson for setting up six fake charities. He’s allegedly done this same thing in eight other states. He hasn’t been charged criminally in Washington State, reports the Seattle Times.

What the fuck is going on between Canada and Saudi Arabia? Good question, glad you asked. The two are in some sort of a human-rights tiff. Canada’s ambassador rebuked Saudi Arabia for arresting human-rights and women’s-rights activists. Saudi Arabia clapped back immediately and expelled the ambassador, giving him 24 hours to get his ugly, yella, no-good keister off its property. Then, Saudi Arabia announced it was canceling all flights to and from Toronto. Now it’s barring all of its citizens from receiving treatment in Canadian hospitals. Saudi Arabia has put Canada’s human-rights policies on blast. Meanwhile, they executed a man by crucifixion today. The worst part? The United States says it’s caught in the middle of this quarrel between its two allies. Doesn’t seem like too hard of a choice here, America.

Durkan loves the Showbox too! But will she act? She’s sending representatives to talk with a real-estate developer about the future of the venue today. She’s not ready to support Council Member Kshama Sawant’s legislation to expand the Pike Place Historic District to cover the Showbox. This extension would include other businesses other than the Showbox, such as a restaurant and a strip club.

Attack the fire from the air: Washington firefighting crews are finding quick successes by utilizing aircraft. According to the Washington Department of Natural Resources, there have been 830 fires so far on the land it oversees. A typical fire season averages 817 fires, according to KING 5. Crews have been knocking out these fires with their “Huey Helicopters, along with eight single-engine Fire Boss aircraft.”

BREAKING: We’re all too familiar with how initial reports like these play out.


Election night breakdown: What do you mean you weren’t keeping up with SECB all night? Yeah, there’s a lot to read, but we had a lot to say. The short list: We got banned from the GOP election night party (but then got let in), Dino Rossi won, Joey Gibson lost, the Washington version of Alexandria Ocasio-Cortez didn’t manage to make it through to the next round, and we had to listen to Coldplay on our Uber ride home. There’s probably more. Why don’t you take the morning and catch up?

Election nights outside Washington: It’s still too close to call in the Kansas Republican Primary — a mere 191 votes separate the candidates. This is why voting matters! The Ohio special election is also too close to call. The Republican candidate, Troy Balderson, had a lead of 1,754 votes as of this morning but there are still more than 3,000 ballots yet to be counted. It’s heated!

The Seattle Times write-up about the Automated Fingerprint Identification System levy omits one small detail: That it isn’t just about fingerprint identification. Nah, sorry, voters ignorantly (an assumption) voted to give the Seattle Police Department facial recognition technology. Everything will be fine, right? The police having a database full of our scanned faces can’t possibly be bad… can it?

Don’t get my hopes up, National Weather Service: I am currently sweating in a Capitol Hill Starbucks. It isn’t even 6:30 a.m. yet. Someone was already arrested in here this morning. That’s not about the heat, but it’s been a day already. The good news is that there’s apparently a significant cool down on the way. Maybe even light showers? I won’t believe it until I see it.


But... it's not the end of the week yet, is it? Beat the hump day slump, beat the heat.


He did that:


Amazon continues to thrive off our thirst for convenience: It’s steadily introducing drive-up grocery pick-up at Whole Foods locations. So far, it’s only available in Sacramento, California, and Virginia Beach, Virginia. It’s also only available to Prime Now members, but you could’ve guessed that. Additionally, only Prime Now members will be saved in the Rapture.

New York Republican charged with insider trading: Representative Chris Collins, an outspoken Trump supporter, is having a rough day. Looks like there may be another seat open for the blue wave to scoop up.


Everyone bands together to ban Alex Jones — except Twitter: Jack Dorsey, Twitter CEO, says Alex Jones, notorious conspiracy theorist and flagrant asshole, hasn’t violated Twitter’s rules. YouTube, Facebook, Spotify, and Apple have already banned Jones. This just confirms that Twitter truly is the cesspool we love to hate and cannot bear to stop using.

Maryland man goes to take driving test, forgets about all the drug-dealing paraphernalia in the car: The man, 22, was just trying to get his driver’s license. Nerves must’ve gotten to him — trust me, they got to me like two times during the, uh, two driver’s tests I took — because he forgot about the pound of marijuana in the car. He also forgot about the loaded Glock and the $15,000 in drug-related money. He didn’t get his license. He did get arrested, though.

Tonight's best Seattle entertainment options include: The Trap Kitchen Cookout Tour: Compton 2 Tha 206 (a pop-up lauded by the likes of Nicki Minaj, Kendrick Lamar, and Snoop Dogg), the opening of That Summer, which reveals footage of Edith and Edie Beale not shown in the 1975 documentary Grey Gardens, and The Phantom of the Opera, which Christopher Frizzelle calls "fog-machine technology’s greatest achievement."

Now, what you're eating for breakfast today:

For Lissa: A blueberry scone with raspberry jam and a side of cherries.

The Bunny Mug proves it is my truest friend. Lissa writes: "The Bunny Mug extends its congratulations to you as you join the Stranger for realz!"

IMG_4631.JPG
Lissa C.

From DeeDee: "I call these Cheater Deviled Eggs: boiled eggs with a dab of aioli on the top. Slice of deli turkey and some grapes on the side. Creamer with some coffee mixed in to drink."

IMG_9350.jpg
DeeDee

A crazy good breakfast for Ken.

IMG_1487.jpg

Rudolpho rewarded himself with this after his bike ride to work. You're living your best life, Rudolpho.

breakfast_.jpg
Rudolpho E

Did you make this, Jim???

"English muffin, peppered Spam, red bell pepper and onions, fried egg with harissa spice, cheddar cheese, avocado."

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Jim

Harry sent me a picture of his breakfast and then quickly realized it contained sensitive work information. He pivoted and sent me this as a follow-up. It takes a keen eye to see what he's having for breakfast this morning.

IMG_2398.JPG
Harry

My 13-year-old brother is fueling up before his Junior Lifeguards practice this morning and football practice this afternoon.

That chocolate milk means hes bulking up. Hes trying to be the hot one in the family.
That chocolate milk means he's bulking up. He's trying to be the hot one in the family. Lisa G.

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          Camping World Posts Record $1.4B 2Q ’18 Revenue      Cache   Translate Page   Web Page Cache   
Camping World Holdings Inc. reported record revenue for its second quarter of $1.445 billion, a 16% increase from $1.28 billion a year. Income from operations, net income and diluted earnings per share of Class A common stock decreased to $120.2 million, $81.8 million, and 72 cents, respectively, and included $15.4 million of pre-opening expenses related […]
          Manulife Reports 2Q18 Net Income Of $1.3 Billion, And Core Earnings Of $1.4 Billion With Double-digit Growth Across All Operating Segments      Cache   Translate Page   Web Page Cache   

Click to view a price quote on MFC.

Click to research the Insurance industry.

          Starwood expands outside real estate with GE energy finance acquisition      Cache   Translate Page   Web Page Cache   
Starwood Property Trust plans to buy a GE energy-finance business for $2.56 billion, part of the firm’s plan to diversify outside its massive real estate holdings that include hotels, resorts and apartments. The Miami-based real estate investment trust is an affiliate of Starwood Capital. The latest purchase includes a portfolio of $400 million in unfunded loan commitments and 51 senior loans secured by energy infrastructure assets, according to a press release. Barry Sternlicht, chairman and ... [more]
           American Medical Association opposes CVS-Aetna merger       Cache   Translate Page   Web Page Cache   
The American Medical Association begged the Department of Justice to block the $69 billion pending merger between CVS and Aetna, saying the union will kill competition and raise drug prices.
          Netflix Falls Short On Subscriber Target, Scares Investors      Cache   Translate Page   Web Page Cache   
Netflix says its faulty forecasting caused it to miss its target for new subscribers, falling short by more than a million even as it reported quarterly earnings that beat analysts' expectations. The streaming service that has ventured in recent years into original productions, such as The Crown , House of Cards and Stranger Things , reported a profit of $384.3 million , or 85 cents a share, up from 15 cents a share the previous year. Revenue was up 6 percent to $3.9 billion. However, investors appeared alarmed by the missed subscriber forecast, causing shares to fall by 14 percent to $345.63 in extended trading Monday. According to The Associated Press, "The company gained 5.1 million subscribers worldwide during the quarter, more than 1 million below the number that management had believed it could. It marked the first time in a more than a year that Netflix hadn't exceeded its subscriber growth projections. As of June 30, Netflix had 130 million subscribers, including 57.4 million
          Saudi Billionaire Resumes Global Deal-Making      Cache   Translate Page   Web Page Cache   
Saudi Prince al-Waleed bin Talal’s $500 million spending spree on technology firms this week marks the billionaire’s return to international deal-making, after he was ensnared in a corruption crackdown at home.

           Denmark's DSV's profit up to US$228 million with all units doing well      Cache   Translate Page   Web Page Cache   
Global freight forwarding and logistics group DSV saw its second quarter operating profit before special items rise to DKK1.45 billion (US$228 million) up from DKK1.24 billion for the same period a year earlier. Revenue increased to DKK19.5 billion compared with DKK18.9 billion in 2017, according to Shipping Gazette."Our financial results for Q2 2018 are at an all-time high and I am pleased to see that all business areas have performed well," said CEO Jens Bjorn Andersen. "So far the impact from trade tariffs has been limited and going into the second half of 2018 we continue to see a stable development on the global transport markets."The strong results prompted the Danish group to raise its full-year financial operating profit guidance to DKK5.3-DKK5.6 billion from DKK5.1-DKK5.4 billion previously.DSV's air and sea division was a major contributor to the record earnings with record high margins pushing up second quarter operating earnings to DKK988 million from DKK843 million.Air freight traffic rose 11 per cent in the first six months of the year to 336,267 tonnes and sea freight was up four per cent year on year to 715,999 TEU.The company's road division, which operates 20,000 trucks in Europe, North America and South Africa, continued to gain market share with shipments increasing four per cent year on year.The road division's operating profit increased to DKK356 million in the second quarter up from DKK319 million a year earlier.

Source: Transportweekly
           Trade war will hurt S'pore, but ASEAN will uphold WTO rules      Cache   Translate Page   Web Page Cache   
Singapore Foreign Affairs Minister Vivian Balakrishnan has conveyed the country's concerns to both the US and China about the rising trade tensions between the two powers, reports Channel News Asia.Speaking to the press conference at the end of Association of Southeast Asian Nations meeting, Dr Balakrishnan explained that any trade war or unilateral sanctions has "disproportionate impact" on Singapore.Singapore has good relations with both the US and China, he said, and has "courteously and directly" expressed its position to both of them, he said, in response to questions from reporters."Obviously, we don't control the agenda of their decisions, but for what it is worth, we conveyed our concerns."Dr Balakrishnan's comments come amid escalating trade tensions between the US and China. In early July, the US imposed 25 per cent tariffs on US$34 billion of Chinese goods, prompting retaliatory tariffs on an equivalent volume of US exports to China. In response, China said it was prepared to impose new tariffs on US$60 billion worth of American goods.Dr Balakrishnan said Singapore believes in a multilateral, rules-based system, and noted that "in an ideal world", everyone resolves their differences on trade through the World Trade Organisation (WTO), or at least in a WTO-compliant fashion."It's not exactly identical to what the US or China may want, but Singapore gets to state what we believe in, because we say the same thing to both sides, they know that we are being transparent and honest, and we are not playing games," he said.He added that this position is "entirely consistent" with that of the ASEAN regional bloc.Nevertheless, he said, people acknowledged that there has been some progress, and the June 12 Singapore Summit did "change the tone of the conversation".Dr Balakrishnan also described ASEAN and China's arrival at a single draft negotiating text on the South China Sea code of conduct as a "significant milestone".He added that the single draft made a "big difference" to the tone of the discussion on the topic this time, as compared to previous ASEAN meetings.Asked if ASEAN if is at risk of becoming an arena for big power rivalry to play out, Dr Balakrishnan said: "We have no intention of allowing that to happen. We will be united, we will be relevant, we will maintain centrality and we will continue to convene these regional and extra-regional platforms."Dr Balakrishnan also revealed to reporters that an agreement has been reached to conclude negotiations on the ASEAN-European Union comprehensive Air Transport Agreement by the end of the year. Negotiations for an ASEAN-European Union Free Trade Agreement will also be negotiated.

Source: Transportweekly
          Concern in Arkansas Town Highlights Trade Fears Across U.S.      Cache   Translate Page   Web Page Cache   
ARKADELPHIA, Ark. (AP) — A Chinese company's announcement two years ago that it would spend more than $1 billion and hire hundreds of workers fo...
          WSFS Financial Merges with Beneficial Bancorp      Cache   Translate Page   Web Page Cache   
WSFS Financial will combine with Beneficial Bancorp in a transaction valued at approximately $1.5 billion.
          Saudi Arabia's Crown Prince Picks a Very Strange Fight with Canada - The New Yorker      Cache   Translate Page   Web Page Cache   

The New Yorker

Saudi Arabia's Crown Prince Picks a Very Strange Fight with Canada
The New Yorker
By social-media standards these days, a tweet sent last Thursday by Canada's Foreign Minister, Chrystia Freeland, was hardly surprising—or a deviation from what other Western governments have said for years about Saudi Arabia's egregious human-rights ...
Saudi-Canada row could further rattle foreign investors eyeing kingdomReuters
Daily briefing: Saudi-Canada spat, Republican worries, workplace wellnessFinancial Times
Canada PM does not back down on rights defense in Saudi spatYahoo News
CBC.ca -Bloomberg -NEWS.com.au -Edmonton Journal
all 1,444 news articles »

          Osinbajo-led FEC approves construction of N348bn Akwanga-Jos-Bauchi-Gombe road      Cache   Translate Page   Web Page Cache   
- The FEC has approved a N348.594 billion contract for the construction of the Akwanga-Jos-Bauchi-Gombe road- The project scope covers the expansion of the current
          Largest California Wildfire Won't Be Contained Until September, Officials Say - NPR      Cache   Translate Page   Web Page Cache   

NPR

Largest California Wildfire Won't Be Contained Until September, Officials Say
NPR
Officials in California are warning that it will likely be September before they are able to contain the Mendocino Complex Fire — the largest in the state's history that has already scorched an area the size of Los Angeles. Cal Fire pushed back its ...
California Wildfires Are Causing Billions in Damage. Who Will Pay?TIME
The Mendocino Complex is California's biggest fire ever, but residents know it could have been much worseLos Angeles Times
The Latest: Some allowed to return home near massive blazeFox News
CNN -Forbes -New York Times
all 1,210 news articles »

          Andra Rush sells stake in Detroit Manufacturing Systems, steps down as CEO      Cache   Translate Page   Web Page Cache   
Andra Rush, who built Detroit Manufacturing Systems into a top-level auto supplier with $1 billion in annual revenue, has stepped down as CEO and sold her majority share in the company.

          EFCC freezes Bank Accounts of Benue State      Cache   Translate Page   Web Page Cache   

The Economic and Financial Crimes Commission ( EFCC) has frozen 3 bank accounts belonging to the Benue State Government. This move comes after the commission accused the State Governor Samuel Ortom of ₦22 billion fraud. The Cable reports that Terver Akase, the Chief Publicity Secretary to Ortom, revealed the freezing of the state accounts. The […]

The post EFCC freezes Bank Accounts of Benue State appeared first on Smash9ja.com.ng - Download Free Music, Mp3, Albums, Video,Foreign Music, Instrumentals, Tv Series, Movies,despacito remix,cardi b bodak yellow mp3,despacito justin bieber mp3,.


          Comment on World Natural Gas 2018-2050: World Energy Annual Report (Part 3) by Minqi Li      Cache   Translate Page   Web Page Cache   
Hi Dennis, I guess you meant 450 "billion" tonnes of oil equivalent
          Comment on World Natural Gas 2018-2050: World Energy Annual Report (Part 3) by Minqi Li      Cache   Translate Page   Web Page Cache   
Dennis, that's very interesting. Yes, BP gas number is for dry gas The BGR total original resources (cumulative production + reserves + resources) are 957 trillion cubic meters or 823 billion tons of oil equivalent. So a URR of 384 billion toe implies a recovery factor of 47%, roughly comparable to the recovery factor of my oil URR estimate. My oil URR compared to BGR total original resources implies a recovery factor of 48%
          Puerto Rico sends costlier reconstruction plan to U.S. Congress      Cache   Translate Page   Web Page Cache   
Puerto Rico submitted a recovery plan to the U.S. Congress on Wednesday that carries an estimated price tag of $139 billion, which is 47 percent more than the bankrupt U.S. commonwealth requested in November.

          United Airlines Reports Jump in Traffic, Capacity, and Load Factor for July      Cache   Translate Page   Web Page Cache   
United Airlines announced operational results for July 2018. The carrier’s consolidated traffic and capacity were up year-over-year, as was its load factor. Total traffic for the Chicago-based airline during the month of July was 23 billion RPMs, or revenue passenger miles, an increase of 6.9% from 21.51 billion RPMs in July 2017. The carrier’s total capacity for the month was up 4% to 25.76 billion ASMs, or available seat miles, from ...
          Guy Pearce To Replace Michael Sheen In Bloodshot      Cache   Translate Page   Web Page Cache   
Guy Pearce is reportedly in talks to replace Michael Sheen on the film adaptation of Valiant Entertainment comics title Bloodshot which has just begun production. The story follows Vin Diesel as former soldier Ray Garrison who is killed and brought back to life with billions of nanobots. This allows him to be the perfect soldier by […]
          Trump's trade battle with China hits home in Arkansas town      Cache   Translate Page   Web Page Cache   
ARKADELPHIA, Ark. (AP) — A Chinese company’s announcement two years ago that it would spend more than $1 billion and hire hundreds of workers for a paper mill on the outskirts of this rural college town was seen as a much-needed shot in the arm for the region’s economy.
          Arizona drug maker working on settlement with government      Cache   Translate Page   Web Page Cache   

PHOENIX (AP) - An Arizona drug manufacturer whose billionaire founder faces racketeering charges in an alleged scheme paying doctors kickbacks to prescribe opioids says it is negotiating an agreement with the government.

INSYS Therapeutics said Wednesday that a final settlement is pending.

Massachusetts-based Justice Department spokeswoman Christina DiIorio-Sterling said she ...

          15 SF Chamber Members are LinkedIn’s Top U.S. Companies of 2017      Cache   Translate Page   Web Page Cache   

Fifteen members of the San Francisco Chamber of Commerce were named to LinkedIn’s Top Companies of 2017 in the United States. The Top Companies list is based on the billions of actions taken by LinkedIn’s 500+ million members and looks at three main pillars: interest in a company’s jobs,

The post 15 SF Chamber Members are LinkedIn’s Top U.S. Companies of 2017 appeared first on San Francisco Chamber of Commerce.


          Ukraine wants to have the army of Nazi zombies      Cache   Translate Page   Web Page Cache   
What consequences will follow the introduction of Nazi and Bandera-style greetings in the Ukrainian army? Why does Ukrainian President Poroshenko want to nazify Ukraine? Petro Poroshenko ordered to draft a bill that would replace army greetings from Soviet-style "Greetings,  comrades!" to Bandera-style "Glory to Ukraine!" and "Glory to heroes!"The bill is to be approved by the Ukrainian parliament, which currently remains in recess. The parliament is to reconvene on September 4. Nevertheless, Ukrainian Defense Minister Stepan Poltorak said that the new greetings would be used during the military parade on Independence Day in Kiev on August 24. This suggests that Ukraine lives under the rule of certain individuals, rather than law. The aforementioned Bandera-style greeting used by Ukrainian nationalists - "Glory to Ukraine!" -originates from "Heil Hitler!"("Glory to Hitler!") and "Sieg Heil!" ("Glory to Victory!") exclamations that Nazi soldiers used during WWII.  The "Glory to Ukraine!" exclamation was officially introduced at the II Congress of the OUN* party in Krakow in April 1941.Of course, Ukrainian trolls try to find other roots for their Nazi greeting, Christian and even pre-Christian ones. Yet, Ukrainian soldiers will subconsciously associate the new army greetings with the "deeds" of Ukrainian SS divisions "Galicia" and "Nachtigall."The crimes of Ukrainian nationalists were legally proved and established at relevant litigations that also established their direct connection with Nazis. People in the whole world are familiar with the photo showing a fascist aiming his gun at a naked woman, who tries to cover her child with her body. The man in the picture, who is executing the woman and her child, wears a uniform of SS soldier, but he is not a German. He is a native of Western Ukraine. He had served in Galicia division, and had taken part in the work of punitive troops since 1943. Poroshenko consistently pursues the policy to nazify Ukraine. The main message of this policy is as follows: it was not the Soviet Army, but the Ukrainian people and the Ukrainian insurgent army (Bandera supporters, UPA*) that liberated Ukraine from Nazism. How do common Ukrainians react to this?Ukrainian boxer Oleksandr Usyk said: "If shouting "Glory to Ukraine!" could bring back peace to Ukraine, if it could raise people's salaries and pensions, I would be shouting it 24/7." It appears that the Germans used to have the same feelings when Hitler came to power. We would like to hope that Ukraine does not become a prosperous country owing to a Nazi administration. Here is what another person wrote on Facebook: "If you refuse to say "Glory to heroes" in response to "Glory to Ukraine" or if you do not know how to respond to this exclamation, just pretend that you are deaf, or they'll shoot you, at least in your feet." Needless to say that the international community will not show any reaction to Ukraine's decision to change army greetings from Soviet to Nazi ones. In Germany, however, it is considered criminal to say Nazi greetings. In Poland, Ukrainian Bandera-style exclamation is punishable by imprisonment. Yet, Brussels was OK with the anti-Russian Ukrainian slogan "Moskalyaku na gilyaku!" which literally translates as "Muscovites - on guillotines!" The main principle of the European establishment today is as follows: the worse for Russia, the better. At the same time, Ukraine is striving with its fascist values to Europe. Who knows, maybe it will become a member of the European Union someday. Ukrainian nationalists also use an anti-Jewish slogan - "Yude - get'!" ("Jews out!"), but Mr. Poroshenko enjoys respect in Israel. As for the "stronghold of democracy," the United States, Washington shows strong resistance to the adoption of the anti-Nazi resolution that Russia and tens of other countries promote at the United Nations Organization. Ottawa and Kiev support Washington in this. After the Holocaust, Washington's position on the topic should look wild and unacceptable for Israel, but Israel will never say goodbye to an annual aid of three billion dollars. Psychiatrist and psychologist Alexander Fedorovich said in an interview with Pravda.Ru that Ukraine's key national idea is the idea of nationalism. "It unites a fairly large group of people who are ready for extreme actions. Nationalism in Ukraine promotes ideas of chauvinism, fascism and anti-Semitism," the expert told Pravda.Ru.The first platform, where a national ideology should be realized, is a younger generation (kindergartens and schools). The next platform is the army. "If people have to go to kill other people, they should be ideologically zombified, because they should not think about anything else," Alexander Fedorovich said in an interview with Pravda.Ru.According to the psychologist, Ukraine did not have to reinvent the wheel - the country recreated the experience of Dr. Goebbels by inciting nationalist sentiments and making people believe in the superiority of their country over other nations. "In the army, this greeting, which soldiers repeat throughout the day, becomes visceral. It requires no emotional coloring, and it zombifies people. They stop to reflect on the subject and take it for granted," Alexander Fedorovich said in an interview with Pravda.Ru. *OUN-UPA - terrorist organizations banned in RussiaLyuba LulkoPravda.Ru Read article on the Russian version of Pravda.Ru
          Alice Cooper on Hollywood Vampires and reuniting with his original bandmates      Cache   Translate Page   Web Page Cache   
Alice Cooper’s major heyday may have been back in the 1970s, when tours behind albums like Billion Dollar Babies were breaking Rolling Stones concert attendance records.…
          Lead Commercial Technician      Cache   Translate Page   Web Page Cache   
TX-Austin, About Us: EMCOR Facilities Services (EFS), an EMCOR core business, services over 1 billion square feet of space worldwide. From corporate campuses to single sites, EFS provides a range of services that support mission-critical areas of financial services, manufacturing, pharmaceutical, transportation, and government sectors. Essential Duties and Responsibilities: Training New Employees On EMCOR Fi
          Jeff Bezos adds a keynote address to his September agenda in Greater Washington      Cache   Translate Page   Web Page Cache   
Jeff Bezos will have a lot to say in Greater Washington come mid-September. Maybe Amazon.com Inc. (NASDAQ: AMZN) will have announced its HQ2 decision by then, maybe not. But its CEO, also the founder of Blue Origin, will certainly be in town, making the rounds. The Air Force Association announced Wednesday that Bezos will keynote the 2018 Air, Space & Cyber Conference scheduled for Sept. 17-19 at National Harbor. That speech will follow the billionaire’s Sept. 13 address to The Economic Club…

          Wall St falters on trade tensions and sinking oil prices      Cache   Translate Page   Web Page Cache   

China announces retaliatory tariffs on $US16 billion worth of US imports as Wall Street finishes mostly lower with US-China trade tensions intensifying.


          Sinclair, Tribune in talks to overcome regulatory hurdles      Cache   Translate Page   Web Page Cache   
The Sinclair broadcasting company says it's in talks with Tribune Media on how to overcome regulatory hurdles to its $3.9 billion deal to buy Tribune's 42 TV stations. The deadline … Click to Continue »
          Rising From the Desert, Solar-Thermal Giant Defies Musk Battery      Cache   Translate Page   Web Page Cache   
South America’s only solar-thermal project is resuming construction just as the technology it uses risks being overtaken by a cheaper alternative. Cerro Dominador had been gathering dust on the plains of Chile’s Atacama Desert for more than two years after former co-owner Abengoa SA got into financial difficulties. The company finally sold its stake to its partner, private equity firm EIG Global Energy Partners LLC, which in May secured the $758 million needed to finish the $1.1 billion plant.
          China Slaps 25% Tariff on U.S. Solar Cells It Rarely Imports      Cache   Translate Page   Web Page Cache   
China plans to impose a 25 percent tariff on imports of U.S.-manufactured solar cells as part of its $60 billion retaliation against President Donald Trump’s proposed $200 billion in import tariffs. China is the world’s biggest manufacture of solar cells, which are assembled into photovoltaic panels, and the U.S. exports few, if any, to China. Noticeably absent from the latest list is polysilicon, the main ingredient in solar cells, which the U.S. does export to China.
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          A workers’ resistance to the crisis in Venezuela      Cache   Translate Page   Web Page Cache   

Venezuela under President Nicolás Maduro has further descended into crisis and chaos since Maduro was re-elected in May in an election marked by low turnout and lack of options to vote for. Since the election, though, new workers’ struggles have arisen and spread, though the local and international media have ignored them. This resistance poses an alternative to both the corrupt and repressive Maduro government and the right-wing opposition backed by the U.S. which has opposed reforms and popular power since former President Hugo Chavez came to power.

On August 4, after the interview below was completed, Maduro survived an attack during a speech in Caracas. Drone aircraft carrying explosives reportedly flew close to the president and his entourage and detonated. Maduro was unhurt. The government blames the attack on opponents working with the U.S. and Colombia to topple Maduro.

Gonzalo Gómez is a Venezuelan revolutionary, member of the socialist organization Marea Socialista, co-founder of the independent left-wing website aporrea.org, and a veteran of union and popular struggles in Venezuela for over 40 years. In mid-July, he was interviewed by Carlos Carcione about the situation in Venezuela and the next steps for socialists in the country. The interview was translated into English by Eva María.

ACCORDING TO the information we have, struggles by workers have begun in the country over wage demands and working conditions. Other large protests are taking place over the collapse of public services, such as electricity, water and telecommunications, as well as the situation with public transportation and roads, and also the CLAPs [boxes with food essentials distributed by the government to low-income families] that are not arriving. Could you tell us what the situation is like?

AFTER THE May 20 elections [won by Nicolas Maduro], there has been an escalation of conflicts and demands from workers and from many social sectors in the country. This process has not stopped. On the contrary, it is increasing with new sectors joining every day.

Striking nurses in Caracas demand a fair wage and relief from the crisis
Striking nurses in Caracas demand a fair wage and relief from the crisis

Among the most outstanding are the mobilizations that the nurses of public hospitals and maternity hospitals have been leading for more than two weeks. They are demanding a fair salary; some slogans call for salaries to match the level of the Canasta Básica [the basic needs for a household], which is also what the Constitution [of 1999, which Maduro is attempting to re-write] states.

It’s necessary to bear in mind that the salary today is less than what it costs to get to work. And this also leads to the demand for the improvement of health services: there are no medical supplies, no medicines, inadequate medical equipment — and to top it off, doctors are leaving the country.

However, the government reportedly granted increases to the military that are known to be very close to the Canasta Básica or higher for the upper ranks. These motivated nurses to say “We want a salary like the military’s,” and others to say, “We want to make what Tisbay Lucena [the president of the National Electoral Council] makes in two weeks.”

The nurses are taking to the streets and have the support of patients and their families. They are opting for street protests because the government is in a de facto shutdown in the health sector due to a lack of resources and starvation wages.

This situation of crisis and abandonment is suffered by the vast majority of public-sector workers, as well as throughout the country. For example, workers in the university sector are also going out to protest over wages.

Leaders of the official trade unions try to make agreements behind the backs of the workers with increases that are negligible and completely unsatisfactory. The workers remain unaware of these “agreements,” and the struggles continue.

Workers at the Ministry of Higher Education, Science and Technology and many satellite institutions in this ministry have joined protests and struggle. And just as in the health sector, the demand for higher wages is merged with the demand to improve the conditions of the services they provide.

Electricity workers, telephone workers for CANTV in some regions, some postal workers are taking action. And some who have not yet taken to the streets are beginning to issue statements and demands addressed to the government, as well as protests through communiqués about the situation in which they find themselves, mainly in the public sector.

Then there is also a tendency towards workers in related sectors working together, and in some cases, coordinating struggles. This marks the prospect of a general national struggle for wages and also for the improvement of public services.

For workers in other countries to understand the situation, it should be said that Venezuelan workers and their families would be living on these wages with one or two eggs a day or with a can of tuna a day per household.

The government provides care packages with some food products, called CLAP boxes, to a part of the population. These create a clientelist relation with the government, but they are not part of peoples’ salaries. The system is also very insufficient. People can’t freely decide what food or products they buy. Such measures have been typical of neoliberal governments for social control of the poor.

This has to be put in the context of a collapsing situation. You can’t get transportation to work or you don’t have cash to pay for it, and then you go to work in shifts or part-time. The workers are dividing up a few days a week because they can’t even successfully get to work consistently. The economy is collapsing, and so is Venezuelan society and the state.

We at Marea Socialista are going to be involved in these struggles, bringing our solidarity, our support and our proposals, and helping to amplify the demands and experiences.

We believe that each of these struggles must achieve its objectives. We must not allow them to be repressed, and we should push for them to coordinate into a national struggle for higher wages.

The focus is now in the struggle for wages, but the communities and neighborhoods are also coming out to demand the basic functioning of public services that are currently in disarray: lack of water, constant blackouts, interruptions in phone service, inconsistency in garbage pickup, etc.

WHAT DO you think is the current political situation in the country?

THE GOVERNMENT doesn’t guarantee the normal functioning of the country, nor the living conditions of the people, nor does it really manage to govern. It does not stop hyperinflation. It simply contributes to chaos.

It behaves like an authoritarian government toward the people, but it has no authority to bring order to the economy or to put a stop to the corruption of which it is a part.

The situation is so serious that even some sectors of the PSUV [United Socialist Party of Venezuela, the ruling party] are aware of what is happening and criticisms of the government of Nicolás Maduro are beginning to multiply. Because what the government is doing is equivalent to the effects of neoliberal governments. Because of the precariousness of wages, because employment has no meaning or value, and there is an exodus of professionals and workers.

They are reducing the functioning of the state apparatus to a minimum, albeit without abandoning corruption, to the obvious detriment of living conditions, which is clear in the case of the health sector.

The government attributes all this to a supposed “economic war” against it, but we all know that capital has always sought profit at the expense of everyone else, and it is the government that has the power to influence a set of variables. If the government does not give the necessary wage increases, then they must be held responsible. If it does not provide basic services, the same thing applies.

And we are not only talking about the National Executive, because the National Constituent Assembly (ANC) forged by Maduro — though we can consider it to be illegitimate — is supposed to be supra-constitutional and universal, but even it isn’t capable of fixing things.

All they are trying to do is adjust the political regime to the requirements of capitalist accumulation of the ruling bureaucracy into the new global framework, guarantee themselves freedom to engage in embezzlement, contain the people under social and repressive control, and ensure impunity for their power elite.

Another example of the bureaucratic disaster is PDVSA [the state oil company]. Oil production has fallen to an all-time low. The Maduro government is bankrupting the company — if it’s not already bankrupt.

Basic industries, including the steel sector, are going through a historic decline in production, producing what was previously produced in a few days over the course of a year.

The government can only keep itself in power while we are overwhelmed by appalling corruption. It does nothing to recover the country’s embezzled resources, because the government itself is knee-deep in corruption, whose haul is equivalent to almost a decade of imports.

And on the other hand, the government has prioritized the payment of an illegitimate foreign debt and is pledging the country’s little oil production in exchange for Russia’s and China’s financial aid in the future, putting at risk national and state sovereignty over PDVSA.

This shows that the only plan they have is to unload the crisis on the population. They seek to distract us with calls for electoral processes in very dubious conditions. But the government isn’t carrying out its duty to solve national and working people’s problems.

In sum, we have a disastrous combination of factors: authoritarianism and the degradation of democracy; the collapse of the functioning of the state for social and economic affairs; a frightening setback in the standard of living of the people in contrast to what had been achieved during the Bolivarian Revolution; as well as rampant corruption linked to a mafia pattern of accumulation, which cannot be fixed with this government, nor with a government of the old oligarchy.

This is why I sometimes comment that “La V se ha cuarteao.” [The Fifth Republic is going the way of the Fourth.] The people who have begun to rebel in Venezuela are doing so because daily life is already impossible and because they are reacting against the dismantling of everything. The gravity of the current situation leads us to say that the country must go through a refoundation.

WHAT DO you propose as a way out?

WE HAVE to start from these struggles because they mean a shift in the national situation.

The workers and the popular sectors have started to respond. They have gone from a situation in which uncertainty, demoralization, fear and a desire to flee the country prevailed to the terrain of struggle. People are going out to fight in the streets because they are cornered by a government that does not want and cannot offer alternatives.

These struggles must be coordinated and extended nationally. But the solution will not come as long as we keep doing the same things we’ve done up to this point. We need an emergency plan that is really on the side of the workers and the popular sectors, not that of the bureaucracy, the corrupt and those who take advantage of the crisis to do business and become an elite of predatory power.

This emergency plan would have to guarantee a salary at the level of the Canasta Básica of goods and updated periodically to keep up with hyperinflation, so that wages don’t plummet. This would just be putting into effect what is established in Article 91 of our Constitution [established by Chávez in 1999, in contrast to the one Maduro is trying to draft].

Initially, at least, it can start with what the nurses who are fighting are demanding. For example, we want to get paid at the same level as military officers.

Among other things, we need to recover the funds embezzled from the country, which amount to billions of dollars. The assets and accounts of the corrupt must be confiscated. We also insist on the cessation of payments of the foreign debt and the initiation of a public and citizen audit of this debt, as it is illegitimate and the product of corrupt dealings.

As for other ways we can get the needed resources. First, we can get them from the production of the state-owned companies themselves, especially the food industry, which the government has left practically inactive and whose products are diverted to smuggling circuits or to parallel markets.

This recovery isn’t going to be guaranteed by the corrupt bureaucracy, but rather by the effective participation and control of workers, peasants and communities.

For this plan to be carried out, then, another government is needed, one that is willing and able to carry this plan forward. Neither nor the right-wing opposition, which represents big capital and has leached off the corrupt state, want to apply these solutions. We need another political direction.

This is why we are fighting to build Marea Socialista. At the same time, we say that the workers who are fighting and those who are critical of the government must create a new political alternative for the country that embraces one of our most characteristic slogans: Neither bureaucracy nor capital!

In the international and regional context, the people have also come out to fight and are strongly questioning governments. Some of these governments are using left-wing rhetoric, but empty of content, and in the name of that, they are snatching democratic and social conquests from the peoples and even committing real massacres. This is what is happening in the case of Ortega in Nicaragua.

Governments like Ortega’s and Maduro’s end up becoming instruments of counterrevolution against their people, and today, they are actually implementing a counterrevolution in our countries.

We, in the heat of the struggles, find ourselves needing to build the political vehicles to oppose these leaders and their parties at the same time as we continue to fight the old bastions of right-wing power.

That is why we are trying to build alternatives and new political references with a national reach. But we need and seek to develop international connections with those with whom we share strategic outlooks and who want to struggle alongside us.

Hence our relationship with and our effort to build a new international space as Anticapitalistas en Red, which has been bringing together several revolutionary, democratic, anti-capitalist and anti-bureaucratic political organizations in Latin America and other parts of the world.


          US stock indexes dip as oil prices sink energy companies      Cache   Translate Page   Web Page Cache   

NEW YORK — A late gain for U.S. stocks slipped away Wednesday as a four-day winning streak ended. Energy companies sank along with the price of oil.

The price of crude oil fell more than 3 percent Wednesday. Big dividend payers and industrial companies slipped. Gains for Microsoft, Facebook and Alphabet helped technology companies finish higher. Banks and health care companies also rose.

The U.S. and China both announced new tariffs: later this month each country will put a 25 percent tax on $16 billion in goods imported from the other. Both countries placed tariffs on $34 billion in imports earlier this month, and they have threatened much larger tariffs to come.

But investors have been focusing on rising company earnings instead. Karyn Cavanaugh, senior markets strategist at Voya Investment Management, said U.S. companies are expecting bigger profits in spite of the tariffs.

"That speaks to me a lot louder than a lot of negative headlines," she said. "Companies have gotten very good at minimizing their costs and being very efficient with what they have."

The S&P 500 index dipped 0.75 points to 2,857.70. The Dow Jones Industrial Average fell 45.16 points, or 0.2 percent, to 25,583.75. The Nasdaq composite rose 4.66 points, or 0.1 percent, to 7,888.33. The Russell 2000 index of smaller stocks lost 1.42 points, or 0.1 percent, to 1,686.88.

The Trump administration plans to tax Chinese industrial products such as steam turbines and iron girders starting Aug. 23. China's government said it will put tariffs on U.S. goods including cars, crude oil and scrap metal starting on the same date.

Oil futures fell sharply. U.S. crude oil lost 3.2 percent to $66.94 a barrel in New York. Brent crude, the standard for international oil prices, fell 3.2 percent to $72.28 a barrel in London.

Exxon Mobil lost 0.7 percent to $80.73 and Chevron dipped 1 percent to $123.88.

Snap, which runs the Snapchat video app, fell 6.8 percent to $12.23 after it said daily users fell during the second quarter. It's the latest technology company to have its stock drop after announcing discouraging user totals, joining Facebook, Twitter and Netflix.

Match Group, the parent of online dating companies including Match.com and OKCupid, bucked that trend. Its stock jumped 17.3 percent to $45.60 after Match reported big gains in subscribers, especially for Tinder. Its adjusted profit and revenue beat Wall Street projections.

Drugstore and pharmacy benefits manager CVS raised its annual profit forecast and rose 4.2 percent to $68.17. CVS said prescriptions sales grew, although it took a loss after it wrote down the value of its Omnicare pharmacy services business by almost $4 billion.

In April, construction equipment company Caterpillar said it doubted it would top its first-quarter profit for the rest of this year. Investors were concerned that that might hold true for the rest of corporate America, but so far it hasn't.

A month ago analysts expected the companies of the S&P 500 to earn $160.32 per share in 2018. That's risen by almost a dollar, to $161.29 a share. Their estimates for 2019 have risen by a bit more than a dollar, to $177.52 a share from $176.38.

Twinkie maker Hostess Brands plunged 17.6 percent to $11.49 after it said its results were hurt by cuts in promotional support and inventory from a major retailer and higher costs, including for transportation.

Pizza maker Papa John's fell 5.2 percent to $38.94 after it said North American sales fell again. The company also cut its forecasts for the year. Papa John's is in a public spat it with founder John Schnatter, who was ousted as chairman in July after a report he used a racial slur in a conference call.

Domino's, a rival pizza delivery company, climbed 3.4 percent to $286.92.

Walt Disney fell 2.2 percent to $113.98 after the entertainment company's profit and revenue fell short of analysts' estimates.

Cars.com and Avis Budget Group both sank after cutting their sales forecasts. Rental car company Avis skidded 15.2 percent to $32.85 while Cars.com, an online auto marketplace, dipped 2.6 percent to $27.29.

Struggling rival Hertz jumped 24 percent Tuesday after a better-than-expected quarterly report. Hertz fell 7.3 percent to $18.11 Wednesday.

Bond prices turned higher. The yield on the 10-year Treasury note fell to 2.96 percent from 2.97 percent.

In other commodities trading, wholesale gasoline fell 4 percent to $2.02 gallon. Heating oil lost 2.5 percent to $2.12 a gallon. Natural gas rose 1.8 percent to $2.95 per 1,000 cubic feet.

Gold rose 0.2 percent to $1,221 an ounce. Silver gained 0.4 percent to $15.43 an ounce. Copper remained at $2.75 a pound.

The dollar fell to 110.96 yen from 111.43. The euro inched up to $1.1619 from $1.1594.

The German DAX fell 0.1 percent and France's CAC 40 lost 0.4 percent. In Britain, the FTSE 100 index rose 0.8 percent.

Japan's Nikkei 225 index gave up early gains and closed 0.1 percent lower. Hong Kong's Hang Seng index added 0.4 percent while South Korea's Kospi edged 0.1 percent higher.

____

AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP His work can be found at https://apnews.com/search/marley%20jay

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FILE- In this April 24, 2018, file photo, an American flag flies outside the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, Aug 8. (AP Photo/Mary Altaffer, File)
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          CVS Health tops 2Q forecasts, downplays help from rebates      Cache   Translate Page   Web Page Cache   

CVS Health detailed a better-than-expected second quarter Wednesday and then reassured investors that it doesn't depend heavily on much-criticized prescription drug rebates that regulators may eliminate.

Shares of the drugstore chain and pharmacy benefit manager climbed after CEO Larry Merlo told analysts that rebates from drugmakers will amount to only about 3 percent of the company's adjusted earnings this year.

Mizuho Securities USA analyst Ann Hynes said she thought they contributed about 14 percent, and Wall Street probably had an even higher estimate. She called the CVS disclosure "a big deal for the stock," and she said in a research note that it shows that any potential changes should be manageable for the company.

CVS Health runs the nation's second-largest drugstore chain and processes more than a billion prescriptions a year as a pharmacy benefit manager.

These so-called prescription drug middlemen have taken heat in the debate over rising drug prices, especially over rebates they receive from drugmakers. Critics say those largely secretive agreements play a major role in keeping drug prices elevated, and regulators have talked about eliminating them.

CVS Health says it passes well over 90 percent of its rebates on to its customers, and Merlo added Wednesday that the idea that what it retains affects prescription drug prices is "entirely false."

In the second quarter, CVS Health actually lost $2.56 billion, due to a hefty charge from its long-term care business. But adjusted earnings, which don't count such one-time items, came in at $1.69 per share. Revenue rose 2 percent to about $46.7 billion. Both figures beat expectations.

Analysts predicted earnings of $1.61 per share on $46.32 billion in revenue, according to FactSet.

The company booked a $3.9 billion charge in the quarter tied to its long-term care business. It said Wednesday that it has struggled to grow that business after spending more than $10 billion a few years ago to buy Omnicare, which provides pharmacy services to nursing homes and other clients.

That charge and some costs tied to a pending $69 billion acquisition of the health insurer Aetna led to the quarterly loss.

Overall, though, the company had a good quarter, Edward Jones analyst John Boylan said in another research note. He added that the Omnicare charge was a surprise, but he was already expecting modest results from that business.

For 2018, the company now expects to earn between $6.98 and $7.08 per share this year, better than the per-share projection of between $6.87 and $7.08 that the company put out in May.

Analysts expect, on average, earnings of $6.97 per share.

Regulators are still reviewing the Aetna deal, but CVS Health said it expected to close that transaction either late in the third quarter or early in the fourth.

Company executives have said they want to use the combination to move deeper into managing customer health and to expand the care CVS provides through all of its retail locations.

Shares of CVS Health Corp., which is based in Woonsocket, Rhode Island, climbed 4 percent to $68.04 Wednesday afternoon, while broader indexes were mixed. The stock is still down about 6 percent so far this year.

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FILE- This Dec. 3, 2017, file photo shows a CVS Pharmacy in the Brooklyn borough of New York. CVS Health reports earnings Wednesday, Aug. 8, 2018. (AP Photo/Mark Lennihan, File)
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          Sinclair, Tribune in talks to overcome regulatory hurdles      Cache   Translate Page   Web Page Cache   

NEW YORK — The Sinclair broadcasting company says it's in talks with Tribune Media on how to overcome regulatory hurdles to its $3.9 billion deal to buy Tribune's 42 TV stations.

The deadline for either party to walk away from the deal is midnight on Wednesday.

Sinclair CEO Chris Ripley said Wednesday morning that the companies are working to find approaches that are best for the company, employees and shareholders. He made the comments as Sinclair reported quarterly financial results.

In July, Federal Communications Commission Chairman Ajit Pai raised concerns about the deal and ordered a hearing. Although Sinclair has proposed selling some stations to address potential antitrust concerns, Pai said Sinclair might still be able to operate the stations "in practice, even if not in name."

At the time, one potential buyer was the Cunningham Group, which has ties to Sinclair's founding family. Sinclair has said it will no longer sell two stations to Cunningham and will instead seek FCC permission to sell them to another unrelated party.

Sinclair and its proposed deal for Tribune received widespread attention after news reports in April showed dozens of Sinclair news anchors reading an identical script expressing concern about "one-sided news stories plaguing the country." At the time, President Donald Trump tweeted his support of the company. Sinclair defended the effort as a way to distinguish its news shows from unreliable stories on social media.

With 192, Sinclair is one of the nation's largest owners of TV stations. Tribune's 42 stations include KTLA in Los Angeles and WPIX in New York.

If the companies remain in talks, they will face a lengthy hearing process with the FCC. In the past, just the prospect of that has dissuaded companies from continuing with merger plans. The last deal an FCC hearing blocked was a 2002 merger of satellite TV companies DirecTV and Echostar.

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FILE - In this Oct. 12, 2004, file photo, Sinclair Broadcast Group, Inc.'s headquarters stands in Hunt Valley, Md. Broadcasting company Sinclair says it’s in talks with Tribune Media Co. on how to overcome regulatory hurdles to its $3.9 billion deal to buy 42 of Tribune’s TV stations. Sinclair CEO Chris Ripley said Wednesday, Aug. 8, 2018, that the companies are working to find approaches that are best for the company, employees and shareholders. (AP Photo/Steve Ruark, File)
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          What Comes Next if California Repeals Its Gas Tax Increase?      Cache   Translate Page   Web Page Cache   
Repeal proponents have already planned a sequel for Proposition 6, regardless of whether the measure passes, resulting in the loss of over $5 billion annually from new transportation user fees, including a 12-cents per gallon gas tax increase.
          Technical Recruiter      Cache   Translate Page   Web Page Cache   
MA-Charlestown, About NTT DATA Inc. NTT DATA is a leading IT professional services provider and a regional operating unit of Japan-based NTT DATA Corporation, the 6th largest IT services provider in the world with $130 billion in revenues and over 130,000 employees across 50 countries in the Americas, Europe, Middle East, China and Asia Pacific. NTT DATA represents the North America business, which serves clients
          Comment on Pensioners protest in Rivers, accuse Wike of owing them  N70 billion by Okpada Prosperity      Cache   Translate Page   Web Page Cache   
Don't mind the senator common sense
          Comment on Pensioners protest in Rivers, accuse Wike of owing them  N70 billion by N D      Cache   Translate Page   Web Page Cache   
Hmmmm where is senator Ben Bruce and others.... How I wish it was APC state now... He would have been the first person to tweet it. God is watching
          Comment on National Assembly leaders meet with INEC Chairman by Prince      Cache   Translate Page   Web Page Cache   
How can we spend all this ... The President, Muhammadu Buhari had in July 2018 said that the 2019 general election will cost about 242.4billion Nai
          Intel sold $1 billion of artificial intelligence chips in 2017      Cache   Translate Page   Web Page Cache   

Intel sold $1 billion of artificial intelligence chips in 2017Intel Corp on Wednesday said it sold $1 billion of artificial intelligence processor chips in 2017, the first time the world's second-largest chipmaker disclosed revenue from the fast-growing computing segment that has fueled sales expansions at rivals such as Nvidia Corp. As PC sales have stagnated, Intel has increasingly been depending on its sales to data centers, which provide behind-the-scenes computing power for mobile and web-based apps. At an event for Wall Street analysts at Intel's Santa Clara, California headquarters to explain its strategy, Navin Shenoy, its data center chief, said the company has been able to modify its CPUs to become more than 200 times better at artificial intelligence training over the past several years.



          Promotion Of Kenya’s Tourism Key To Its Growth      Cache   Translate Page   Web Page Cache   
Kenya rsquo;s tourism industry has undergone challenges such as the uncertainty surrounding the political landscape in 2017. Yet, its resilient performance has been impactfully felt on the Kenyan economy, directly contributing Ksh. 294.6 billion (USD 2.9 billion), which is approximately 3.7% of the GDP in 2017. By the end of 2018, the contributi ...
          WSFS to jump over $10B threshold with Beneficial acquisition      Cache   Translate Page   Web Page Cache   
The Delaware company plans to reinvest savings from the $1.5 billion acquisition to upgrade technology and delivery channels.
          Starwood to Buy GE Energy Finance Business      Cache   Translate Page   Web Page Cache   
Starwood Property Trust said it has agreed to buy GE Capital’s Energy Financial Services’ business for $2.56 billion, including $400
          Electrical Engineer - Crown Holdings - Worland, WY      Cache   Translate Page   Web Page Cache   
With operations in 36 countries employing over 24,000 people and net sales of over $8 billion, we are uniquely positioned to bring best practices in quality and...
From Crown Holdings - Wed, 18 Jul 2018 15:35:59 GMT - View all Worland, WY jobs
          SoCal Gas Reaches Aliso Canyon Settlement as Costs Top $1 Billion      Cache   Translate Page   Web Page Cache   

It’s been nearly three years since the Aliso Canyon natural gas storage facility sprung a massive leak, sickening many, evacuating thousands, and forcing a shutdown of the Los Angeles region’s primary reserve for natural gas to keep homes warm in winter and supply regional power plants at times of peak grid demand.  

This week, facility owner Southern California Gas announced that the costs of containing, repairing and maintaining the underground storage site have ballooned to more than $1 billion, even as they long-term future of the site, reopened at limited capacity last summer against the protests of Los Angeles County and angry residents, remains very much in doubt. 

SoCalGas, a unit of Sempra energy, officially broke the $1.014 billion mark for Aliso Canyon costs in its quarterly earnings filing this week. The estimate is up 6.3 percent from $954 million in the previous quarter, and almost all of it ($987 million) has been largely recovered or is likely to be recovered through insurance, the company stated.

Of the total, about 55 percent was for temporary relocation of the people forced to evacuate their homes during the leak. However, SoCalGas also warned that the estimates could “rise significantly” due to still-pending lawsuits and potential fines.

On Wednesday, SoCalGas announced its $119.5 million settlement with state, county and local governments, pledging to repay their costs associated with the response effort, as well as establish a program with the California Air Resources Board to mitigate the methane emissions from the leak, and fund local environmental benefit projects to be run by government parties, not the company itself.

The settlement did not, however, include some of the residents of the Porter Ranch neighborhood, who are vowing to continue their legal battle to close down the Aliso Canyon site. Los Angeles County, which is a party to this week’s settlement, has also opposed the CPUC’s decision to allow SoCalGas to conduct a study into whether or not facility could be kept open for the long term. 

Last July, the California Public Utilities Commission determined that Aliso Canyon could start to operate again at limited capacity of about 24.6 billion cubic feet, or about 28 percent of its pre-leak maximum capacity. But under Senate Bill 380, a law passed in 2016, the CPUC and the utility must operate the facility only as an “asset of last resort” after other options for dealing with energy shortfalls have been exhausted. 

SB 380 also requires the CPUC to study the long-term effectiveness of closing down Aliso Canyon entirely versus keeping it open. Last July, soon after the CPUC allowed Aliso Canyon to reopen, California Gov. Jerry Brown and the California Energy Commission (CEC) put forward a plan to study how Aliso Canyon could be shut down completely within the next 10 years. 

According to SoCalGas, Aliso Canyon serves more than 11 million customers and provides fuel to 17 natural gas-fired power plants with about 10,000 megawatts of generating capacity. It’s also much closer to some of Southern California’s most heavily populated regions — a critical factor for a pipeline system that can only move gas at about 20 to 30 miles per hour. While it takes only one to two hours for Aliso Canyon-stored gas to reach key Los Angeles area power plants, for example, it would take about 10 hours to supply those plants from terminals at the Arizona border, according to SoCalGas. 

Aliso Canyon’s closure in January 2016 led to fears that Southern California could be faced with energy shortages during both cold winter months, when natural gas for heating is in high demand, and during hot summer months, when air conditioning drives natural gas-fired electricity demand to peak levels. A joint state agency study in April 2016 warned of the risk of multi-day blackouts without a wide range of energy efficiency, solar power, demand response, energy storage, and other distributed energy resources to take its place. 

The threat drove the CPUC to fast-track utility deployments of DERs in record time, starting with the 2016 procurement of nearly 100 megawatts of energy storage from Tesla, Greensmith Energy and AES Energy Storage, including what is currently the country’s biggest battery — the 30-megawatt/120-megawatt-hour Escondido system that AES built for San Diego Gas & Electric. 

A law passed in 2017, SB 801, requires LADWP and SCE to procure additional energy storage — 100 megawatts and 20 megawatts, respectively — to meet reliability needs for Aliso Canyon.

Southern California Edison, which contracted for most of the energy storage above, also turned to Nest to enable 50 megawatts of smart thermostat-enabled peak load reduction, tapping about 50,000 of its existing customers in the region with utility incentives to reduce air conditioning loads in summer months. 

SoCalGas has also turned to Nest and Ecobee for an unusual wintertime demand response program, aimed at lowering natural gas consumption for heating, which saw its first test in December 2017. While uptake has been “minimal” thus far, the utility and its partners are seeking to increase participation for the coming winter, according to a March letter from the CPUC that outlined how utilities have been tapping those alternatives before tapping Aliso Canyon’s limited reserves over the winter. 

The CPUC’s letter noted that utilities SCE and Los Angeles Department of Water and Power (LADWP) have also been working to re-dispatch power generation needs to plants outside the LA basin in an attempt to reduce demand on the regional natural gas supply system. The CPUC even issued a temporary moratorium on new commercial and industrial customer interconnections in parts of Los Angeles County reliant on Aliso Canyon service in December, although it lifted it in March. 

But with state grid operator CAISO facing the need for emergency demand reduction to meet late-summer electricity peaks, and the possibility of a colder-than-expected winter putting more stress on next year’s natural gas demands, it’s likely that Aliso Canyon may be called upon again in the near future — even as agencies look at ways it could be replaced in the long run. 


           Billionaire Sports Direct boss Mike Ashley earns nothing AGAIN as he forfeits his salary and bonus       Cache   Translate Page   Web Page Cache   
The 53-year-old, who is at number 58 on the Sunday Times Rich List with an estimated wealth of £2.4billion, has a 61per cent stake but he has forfeited his salary.
           Tesla bosses weigh up Elon Musk's proposal to take the electric car maker private       Cache   Translate Page   Web Page Cache   
A deal is likely to require private equity buyers to stump up £54billion, which would make it the biggest takeover in corporate history.
          Samsung Investing $20 Billion In Futuristic Technologies      Cache   Translate Page   Web Page Cache   
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          Kylie Jenner Heats Up Instagram With Racy Photo Series That Leaves Little To The Imagination      Cache   Translate Page   Web Page Cache   

Kylie Jenner

Kylie Jenner is keeping Instagram hot with a series of photos for her fans and followers that show off some of her best assets. Wearing nothing more than a crop top and panties, Jenner, who will officially turn 21 on August 10, is racking up the views and likes like few others can, amassing over 900,000 views in barely one hour on the first photo of the series. Jenner has been working hard lately, promoting her cosmetics brand, doing photo-shoots, keeping her personal life rocking, and grinding her way from the $900 million she is sitting on now toward the initial goal of $1 billion.

Click here to continue and read more...


          $30 Billion Lost: 4 Stats That Show a Crypto Market in Decline – CoinDesk      Cache   Translate Page   Web Page Cache   

myBTCcoin

myBTCcoin 6:28 PM The crypto markets are seeing red in a big way Wednesday as an ongoing rout is wiping away billions of dollars in value. As reported by myBTCcoin, the collective market capitalization for all crypto assets hit a new low for the year earlier today – as it stands, the overall market cap is roughly […]

myBTCcoin - Bitcoin & Litecoin Mining Pool


          Europe Programmable Logic Controllers (PLC) Market, 2025 - PLC Systems in Europe Reached $2.61 Billion in 2017      Cache   Translate Page   Web Page Cache   

DUBLIN, Aug. 8, 2018 /PRNewswire/ -- The "Europe Programmable Logic Controllers (PLC) Market by Architecture, Product, Industry Vertical and Country 2014-2025: Segment Analysis, Trend Forecast and Business Strategy" report has been added to ResearchAndMarkets.com's offering. The revenue...


          China hits back at US with new tariffs      Cache   Translate Page   Web Page Cache   
BEIJING: China is slapping additional tariffs of 25% on $16 billion worth of US imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world's largest economies escalated their trade dispute.
          Global Journalist: Debating Overpopulation      Cache   Translate Page   Web Page Cache   
Overpopulation has been debated since British economist Thomas Malthus famously warned in 1798 that humans could reproduce far faster than they could increase their food supply. But since Malthus's time, world population has grown from 800 million to 7.5 billion today. Yet worries about overpopulation are back. In part that's because lots more people are on the way, complicating efforts to deal with problems like climate change and water scarcity. The UN forecasts that in the near future the world will add about 83 million people annually. By 2100, world population will grow to 11.2 billion. On this edition of Global Journalist: a look at the growth of human population and the debate about its risks.
          Global Journalist: The Overpopulation Debate      Cache   Translate Page   Web Page Cache   
Overpopulation has been debated since British economist Thomas Malthus famously warned in 1798 that humans could reproduce far faster than they could increase their food supply. But since Malthus's time, world population has grown from 800 million to 7.5 billion today. Yet worries about overpopulation are back. In part that's because lots more people are on the way, complicating efforts to deal with problems like climate change and water scarcity. The UN forecasts that in the near future the world will add about 83 million people annually. By 2100, world population will grow to 11.2 billion. On this edition of Global Journalist: a look at the growth of human population and the debate about its risks.
          Samsung Gunning for Top Artificial Intelligence Spot With $22 Billion Investment      Cache   Translate Page   Web Page Cache   
Samsung Electronics plans to spend a whopping $22 billion over the next three years on artificial intelligence, auto components and other future businesses as the company maps out its strategy under the restored leadership of Vice Chairman Lee Jae-yong after he was freed from prison. The announcement Wednesday by South Korea’s biggest business group was…
          Government will spend billions in the next 2 months – here are 3 places they should spend it      Cache   Translate Page   Web Page Cache   

Jeff Neal offers some ideas for spending left-over budget money in a way that may benefit the taxpayers and the government workers who serve them.

The post Government will spend billions in the next 2 months – here are 3 places they should spend it appeared first on FederalNewsRadio.com.


          Thermo Fisher Job Openings For Software Engineer @ Bangalore In August 2018      Cache   Translate Page   Web Page Cache   

Organization Name Thermo Fisher Job Role Software Engineer Location Bangalore Education BE/B Tech Experience 0-2 Years Apply Mode Online(ASAP) About Organization: Thermo Fisher Scientific Inc is the world leader in serving science, with revenues of $17 billion and approximately fifty,000 employees in fifty countries. Our mission is to enable our customers to build the plane ...

The post Thermo Fisher Job Openings For Software Engineer @ Bangalore In August 2018 appeared first on Job Openings For 2014,2015 and 2016 Batches.


          Scientists Find New Tricks For Old Drugs      Cache   Translate Page   Web Page Cache   
Most drugs have side effects, but sometimes they're actually good news. Researchers are now exploring whether some cheap and common drugs have side effects that could help people fight off the flu and other lung infections. This idea has a passionate advocate: Dr. David Fedson . About 10 years ago, this infectious disease specialist had a disturbing thought. He was working in the vaccine industry in France, and he started to wonder what would happen if, all of a sudden, the world was gripped with a flu pandemic. One hundred years ago, the 1918 Spanish flu pandemic swept the globe, killing 50 million people, or maybe more . Scientists fear a similar pandemic is only a matter of time. What then? Fedson wondered. "No company had a strategy for dealing with the pandemic," he says. "And also when you just looked at the arithmetic about how quickly they'd need literally billions of doses of the vaccine, which they couldn't make in time, it became very clear the you simply can't get there
          Last gasp for Sinclair-Tribune mega-media deal?      Cache   Translate Page   Web Page Cache   
Sinclair Broadcast Group's 14-month-long odyssey to acquire Tribune Media Co. may stumble to an end tonight. At midnight, Chicago-based Tribune Media (NYSE: TRCO) can walk away from the $3.9 billion deal with Maryland-based Sinclair (Nasdaq: SBGI) that would have created a media behemoth. The deal appeared to be killed last month when FCC Chairman Ajit Pai expressed "serious concerns" about the deal. Pai issued a draft order calling a hearing on the deal in front of an administrative law judge,…

          Jeff Bezos adds a keynote address to his September agenda in Greater Washington      Cache   Translate Page   Web Page Cache   
Jeff Bezos will have a lot to say in Greater Washington come mid-September. Maybe Amazon.com Inc. (NASDAQ: AMZN) will have announced its HQ2 decision by then, maybe not. But its CEO, also the founder of Blue Origin, will certainly be in town, making the rounds. The Air Force Association announced Wednesday that Bezos will keynote the 2018 Air, Space & Cyber Conference scheduled for Sept. 17-19 at National Harbor. That speech will follow the billionaire’s Sept. 13 address to The Economic Club…

          Tesla board curbs doubts from critics as Elon Musk’s privatization plan starts forming      Cache   Translate Page   Web Page Cache   

Tesla stock (NASDAQ:TSLA) is still feeling the aftermath of Elon Musk’s bombshell on Tuesday, when he announced on Twitter that he is considering taking Tesla private. Tesla’s shares were already on a roll prior to Musk’s update, climbing 5% amidst reports that a Saudi Arabian sovereign wealth fund has taken a $2 billion stake in […]

The post Tesla board curbs doubts from critics as Elon Musk’s privatization plan starts forming appeared first on TESLARATI.com.


          MTN Group H1 revenue rises 10% to ZAR 506 bln      Cache   Translate Page   Web Page Cache   
(Telecompaper) MTN Group revenue increased by 9.7 percent to ZAR 505.67 billion in the first six months to 30 June from ZAR 432.28 billion in the same period in 2017. Service revenue increased by 10.2 percent, supported by growth in MTN Nigeria (up 17.0%), MTN Ghana (up 27.9%), MTN South Africa (up 2.9%) and MTN Uganda (up 8.8%). MTN Cameroon and MTN Ivory Coast reported 7.0 percent and 6.6 percent declines in service revenue respectively. Net profit increased to ZAR 73.39 billion from ZAR 40.64 billion in 2017. 
          Intel sold $1 billion of artificial intelligence chips in 2017      Cache   Translate Page   Web Page Cache   
Intel Corp on Wednesday said it sold $1 billion of artificial intelligence processor chips in 2017, the first time the world's second-largest chipmaker disclosed revenue from the fast-growing computing segment that has fueled sales expansions at rivals such as Nvidia Corp.

          8/8/2018: News: Tycoon: I’d bet my £3bn fortune on UK getting free trade pact      Cache   Translate Page   Web Page Cache   
ONE of Britain’s wealthiest entrepreneurs is so convinced the country can get a free trade deal after Brexit that he would bet his £3.6billion fortune on it. But Peter Hargreaves, who cofounded blue-chip investment firm Hargreaves Lansdown in 1981,...
          8/8/2018: Money Mail: It’s a fact!      Cache   Translate Page   Web Page Cache   
There are 3.7 billion genuine Bank of England notes in circulation, with a face value of around £70 billion
          8/8/2018: City & Finance: The dastardly Mr Deedes      Cache   Translate Page   Web Page Cache   

■ Walrus- chopped Alisher Usmanov’s departure from Arsenal Football Club prompts chatter that he might relocate his billions to Everton, where his former business associate Farhad Moshiri owns a 49.9pc stake. It raises the prospect of Usmanov’s...
          8/8/2018: City & Finance: £9.3 billion      Cache   Translate Page   Web Page Cache   
profits of the big banks in the second quarter of 2018 – the best for five years
          8/8/2018: Premier League: Don’t expect Silent Stan to invest heavily in team      Cache   Translate Page   Web Page Cache   

STAN KROENKE may be worth £6billion, married to one of the richest women in the world and one of America’s biggest landowners — but that does not mean Arsenal fans should expect a rush of cash from their new owner. Quite the contrary, they should be...
          8/8/2018: Premier League: Fans fume over Kroenke’s Arsenal takeover      Cache   Translate Page   Web Page Cache   
ARSENAL were facing a furious backlash from fans last night after US business tycoon Stan Kroenke moved towards a total takeover worth £1.8billion. Kroenke has agreed to pay £550million to buy second largest shareholder Alisher Usmanov’s 30 per cent...
          8/8/2018: Coffee Break: MASTERQUIZ      Cache   Translate Page   Web Page Cache   
1. Which castle in Wales endured a sevenyear siege in the 15th century, believed to be the longest in British history? 2. Who directed Michael Caine as Harry Palmer in the 1967 spy thriller Billion Dollar Brain? 3. Which six-letter Japanese word refers...
          Aqualis Offshore to Position Egina FPSO      Cache   Translate Page   Web Page Cache   
Aqualis Offshore has been handed the position keeping role for installation of the floating production storage offloading unit (FPSO) at Total’s Egina field offshore Nigeria.EPCIC contractor for the $3.3 billion FPSO, Samsung Heavy Industries…
          Seized Superyacht Linked to 1MDB Probe Arrives in Malaysia      Cache   Translate Page   Web Page Cache   
A $250 million superyacht, impounded as part of a hunt for assets linked to the multi-billion dollar investigation into 1Malaysia Development Bhd, arrived at a port in Malaysia on Tuesday about six months after it was seized.The Cayman Islands…
          There and back again: Mantle xenon has a story to tell      Cache   Translate Page   Web Page Cache   
Volatiles -- such as water, carbon dioxide and the noble gases -- come out of the earth's interior through volcanism and may be injected into the mantle from the atmosphere, a pair of processes called mantle degassing and regassing. The exchange controls the habitability of the planet. This transport could not have begun much before 2.5 billion years ago, according to new research that also establishes a range of dates during which the Earth shifted to a net regassing regime.
          Verizon lied about its 4G coverage to the FCC, trade group claims      Cache   Translate Page   Web Page Cache   
Wireless networks love to talk about their coverage, as we've mentioned countless times before. Normally, measuring coverage is only good for establishing bragging rights over the other networks, but occasionally, accurate coverage maps can matter a whole lot more. As Ars Technica spotted, the Rural Wireless Association (RWA) filed a complaint with the Federal Communications Commission (FCC) earlier this week, saying that Verizon has been filing misleading coverage maps claiming that its 4G coverage is much more comprehensive than it really is. Why does the RWA care if Verizon is making up maps of its own coverage? Well, because those maps are used in part by the FCC to determine how it spends billions of dollars to subsidize 4G LTE coverage for rural areas. The Mobility Fund Phase II will disburse $4.5 billion to provide better mobile broadband in rural areas; determining which areas are eligible for subsidies is done using maps of coverage that wireless companies submit. Unfortunately, under the framework the FCC set out, the FCC itself doesn't do anything to vet the maps; instead, other providers or associations have to challenge the coverage maps that providers submit:
Under the challenge process framework established by the Commission in the MF-II Challenge Process Order, mobile providers were required to submit current, standardized coverage data on qualified 4G LTE service.  These data will be used, in conjunction with subsidy data from the Universal Service Administrative Company (USAC), to establish the map of areas presumptively eligible for MF-II support (initial eligible areas map).  Interested parties will have an opportunity to challenge an initial determination that an area is ineligible for MF-II support, and challenged providers will then have an opportunity to respond to challenges.
The RWA says that "Verizon's claimed 4G LTE coverage is grossly overstated," and it's going through the challenge process. But that takes time, and more importantly a large amount of money. To prove that an area doesn't have sufficient coverage, the RWA has to show that 4G LTE service with a speed of at least 5Mbps is not available, and it has to do that over and over and over again, with each speed test only valid for an area of one square kilometer. The area that the RWA is trying to prove doesn't have coverage is much, much larger than that. "The Oklahoma Panhandle has a total area of 14,778.47 square kilometers – almost all of which Verizon claims to cover with 4G LTE coverage," the RWA wrote. To prove that the Verizon coverage map was misleading, a local organization, the Panhandle Telephone Cooperative, Inc., hired an engineering firm to collect data, at great expense:
Since this estimated propagation map was compiled, PTCI has driven more than 37,000 miles in order to compile data for the MF-II [Mobility Fund II] challenge process. PTCI's speed test data collection included a total of 402,573 test points—drive tests taken using Verizon-specified devices that are on plans not subject to network prioritization or throttling. Of the total test points collected, 357,374 (88.8 percent) tested below 5Mbps download speed or did not register 4G LTE service at all on Verizon-designated handsets. The results of the speed tests taken by PTCI largely bear out [the engineering firm's] initial Verizon propagation projections. Data submitted to the Commission indicates that Verizon has overstated its coverage by more than 50 percent in the Oklahoma Panhandle. As a result of Verizon claiming this coverage, PTCI has been forced to undertake significant drive-testing of the area – an undertaking that the company estimates will cost close to $1 million – more than half of which could have been avoided, but for overstated Verizon coverage. $1 million is a hefty price tag to test an area comprised of only three counties
By stating that an area already has 4G LTE coverage, Verizon can prevent that area being eligible for subsidies, which could go to a local company that could build out a network that would compete with Verizon's, costing Verizon customers. As the RWA points out, Verizon can generate these maps, say that they're accurate, and the only way to disprove Verizon is for the small local organizations to spend a vast amount of money. Instead, the RWA is asking the FCC to investigate Verizon's mapping, with the ultimate goal of not having to challenge vast areas in order to make them eligible for federal subsidies for 4G. Verizon issued a statement in response to Ars Technica's questions:
Verizon's letter to the FCC said that its map is accurate, and was based on "a sophisticated propagation model that incorporates industry best practices for propagation modeling." "The [PTCI's] consultants' coverage map underestimates Verizon's Mobility Fund coverage because it fails to take into account all of the Verizon cell sites that provide coverage to customers in the Oklahoma Panhandle," Verizon also wrote. "The consultants' coverage map reflects only the Verizon cell sites that are actually located in the Oklahoma Panhandle.... Because the Oklahoma Panhandle is only 34 miles across, Verizon cell sites in adjacent areas of neighboring states are able to provide coverage to a significant portion of the Oklahoma Panhandle."

          Talcum Powder Lawsuit Recovers BILLIONS For Cancer Patients      Cache   Translate Page   Web Page Cache   

Johnson & Johnson recently got hit with nearly five billion dollars by a jury for covering up the dangers of their talcum powder products. Ring of Fire’s Mike Papantonio and Farron Cousins discuss this issue. Click here to learn more about talcum powder lawsuits. Transcript: Mike Papantonio: Johnson & Johnson recently got hit with nearly […]

The post Talcum Powder Lawsuit Recovers BILLIONS For Cancer Patients appeared first on The Ring of Fire Network.


          Fear of Amazon fuels Icahn's disdain of Cigna-Express Scripts deal      Cache   Translate Page   Web Page Cache   
A fear of retailing behemoth Amazon.com Inc. is one big reason that investor Carl Icahn opposes the proposed $54 billion Cigna Corp. acquisition of Express Scripts Holding Corp. Icahn is a large shareholder of Bloomfield, Connecticut-based Cigna (NYSE: CI) who has expressed previous reservations about the Cigna-Express Scripts deal. On Tuesday he outlined additional concerns to his opposition to the $54 billion deal, specifically citing expressed worries about Seattle-b ased Amazon (Nasdaq: AMZN)… (Source: bizjournals.com Health Care:Pharmaceuticals headlines)

MedWorm Message: Have you tried our new medical search engine? More powerful than before. Log on with your social media account. 100% free.


          VOA Asia - 20180809 - August 08, 2018      Cache   Translate Page   Web Page Cache   
China is slapping additional tariffs of 25 percent on $16 billion worth of U.S.imports from fuel and steel products to autos and medical equipment. The move was announced by the Chinese commerce ministry as the world's largest economies escalate their trade dispute
          Quantum Energy Partners closes latest fund at $5.6 billion      Cache   Translate Page   Web Page Cache   
Quantum Energy Partners has closed its latest private equity fund, Quantum Energy Partners VII, at its $5.6 billion hard cap.
          Elon Musk May Take Tesla Private      Cache   Translate Page   Web Page Cache   
Chief Executive Elon Musk said on Twitter he is considering taking Tesla Inc private at $420 per share as the electric car maker faces the challenges of fast growth and financial constraints, sending its shares up more than 6 percent. At $420 per share, a deal would represent a 22.8 percent premium to Tesla’s closing price on Monday, making it one of the biggest go-private deals with a price tag of about $72 billion. Musk took to social media writing, 'Am considering taking Tesla private at $420. Funding secured,' When asked on Twitter whether he was serious, Musk replied: “Yes.... It saves a lot of headaches.” Tesla did not immediately respond to a request for clarification. Tesla’s shares jumped to $362.74 in afternoon trading. The company had a market value of $58 billion as of Monday’s close. Musk owns nearly 20 percent of the company. Earlier in the day, the Financial Times reported that Saudi Arabia’s sovereign wealth fund, overseen by Crown Prince Mohammed bin Salman, has built an undisclosed stake of between 3 and 5 percent stake in Tesla.
          Cities Are Taxing Ride-Hailing Services Like Uber and Lyft. Is This a Good Thing?      Cache   Translate Page   Web Page Cache   

Cities Are Taxing Ride-Hailing Services Like Uber and Lyft. Is This a Good Thing?

With ride-hailing services like Uber and Lyft continuing to gain popularity and drawing attention for their impact on congestion and other urban ills, cities from Washington to São Paulo are moving to the seemingly inevitable next step: special taxes.

This is unsurprising. Recent research shows that ride-hailing services are contributing to dropping public transport rates and increased private vehicle travel on already-clogged streets.

However, new taxes and fees shouldn't just raise revenue. They can do more than that: they can make cities more livable and transport more sustainable. If ride-hailing is taxed, the mechanism and revenue should be used in carefully targeted ways that improve urban mobility overall.

Taxes on Ride-Hailing Enter the Scene

More than a handful of governments have enacted or are considering fees or taxes, that range from flat-rate fees per ride to taxing as a percent of the ride to systems that target certain types and locations of trips.

These take a variety of forms. For example, Mexico City charges 1.5 percent of ride fare; Washington, D.C., recently raised its tax from 1 to 6 percent of ride fare. Massachusetts levies a 20-cent tax on every trip. Porto Alegre has a monthly fee per licensed vehicle.

A full inventory of city measures to gain revenue from ride-hailing services is provided in a spreadsheet compiled by WRI Ross Center for Sustainable Cities.

Improving Mobility for the City

While new taxes bring in new revenue, these monies aren't necessarily making it easier to get around. For example, in Rhode Island a 7 percent tax on ride-hailing sends revenue directly to the state's general fund. In Philadelphia, a 1.4 percent tax sends money mostly to schools and the remaining third to the city's parking authority. These taxes are also not high enough to change travel behavior in a meaningful way, since transport can sometimes be less sensitive to higher prices.

A tax or charge on ride-hailing—and private traffic as a whole—should improve cities' transport systems overall, as stated in the Shared Mobility Principles for Livable Cities: "Every vehicle and mode should pay their fair share for road use, congestion, pollution, and use of curb space. The fair share shall take the operating, maintenance and social costs into account."

While ride-hailing trends are still changing, and will continue to change as technologies evolve, here are considerations for any city to contemplate in levying taxes that not only raise money but improve mobility for residents too:

1. Encourage more sustainable trips for all users. Any discussion should begin with a consideration of allvehicle traffic. People driving their own private cars continue to dominate traffic, and cause congestion, in most cities.

Places like London, Singapore and Stockholm are known for their congestion charges, but no city has yet comprehensively factored in ride-hailing.

Efforts to charge all road users are bubbling up, however. New York City flirted with a proposal to implement a congestion charging zone coupled with ride-hailing fees, but the State of New York balked and implemented only the ride-hailing fees, leaving anyone driving their own personal car into Manhattan's central business district untouched.

If cities are going ahead with taxes only on ride-hailing, they should encourage sustainable and shared travel over single-occupant rides. This means taxing ride-hailing as a percent of the fare or indexing to distance travelled, rather than a flat fee that would be the same regardless of the ride fare or distance. Most cities are already going this route.

Moreover, shared rides can be taxed at a lower rate than solo rides, or rather, solo rides could be taxed more to incentivize pooled rides. A current proposal in Washington, D.C., aims to reduce the planned tax to 1 percent for pooled rides.

<p>São Paulo has some interesting wrinkles to its ridesharing tax. Flickr/Arnaud Matar</p>

São Paulo has some interesting wrinkles to its ridesharing tax. Flickr/Arnaud Matar

2. Promote equity and access. Taxes should encourage service to transit-poor areas of the city and connectivity to transit generally. Most especially, they shouldn't hinder new mobility services where they may provide low-cost rides to residents in low-income areas or areas poorly serviced by public transport.

São Paulo, the first city to regulate ride-hailing in Brazil, applies its tax according not only to vehicle miles traveled but also equity factors such as whether a driver is a woman and whether the vehicle is accessible to the handicapped. Shared, electric/hybrid, off-peak and weekend trips are all further discounted. A next consideration of cities may be how to incentivize integration with public transit or access to poorly service areas.

3. Invest revenue in multiple modes. Revenue from ride-hailing taxes, like many existing gas taxes or subway fares, should go toward improving mobility systems. It's also important to support other modes of transport beyond the large public transit systems most commonly assumed to suffer from ride-hailing (like metro rail and buses). Improving road safety or adding bicycle lanes and pedestrian spaces are also ways to support a more holistic approach to urban transport.

Washington, DC's 6 percent tax on all ride-hail fares will fund the metro area's public transport agency, yet it is limited to public transport and not aimed at increasing cycling or walking. Fortaleza, Brazil, on the other hand, reduces its 2 percent tax on every trip to 1 percent for companies that make contributions towards urban mobility projects, such as sidewalks, bus lanes, bicycle lanes and bikeshare stations.

Ironically, a more useful guide may be London's congestion charge, which exempts for-hire vehicles such as ride-hailing services. To reduce traffic in highly-congested areas, the city charges all cars entering central London and uses the £1.7 billion ($2.2 billion) revenue to improve bus services, bicycle commuting and walking, and road safety. And recently, Transport for London is proposing expansion of its congestion charge to for-hire vehicles.

How Does Ride-Hailing Fit the Bigger Picture?

As new mobility services change cities and the way people move, today's decisions on taxes and other regulations can help shape a more sustainable mobility for all. There is more to consider, in terms of how to tax, how much to charge and where to send revenues—but taking a more holistic approach to understanding the impact of those policies is a good start.


          ALIANSCE 2Q18 RESULTS: EBITDA expands by 8.0% and AFFO by 23.7%      Cache   Translate Page   Web Page Cache   

RIO DE JANEIRO, Aug. 8, 2018 /PRNewswire/ -- Aliansce Shopping Centers S.A. (B3: ALSC3), one of Brazil's largest shopping malls owners and operators, announced today its financial results for the second quarter of 2018. 2Q18 Highlights: Total sales reached R$1.4 billion during 2Q18, a...


          8/9/2018: TIMES SPORT: Billionaire Stroll comes to Force India’s rescue Mallya’s Decade-Long Ownership Comes To End      Cache   Translate Page   Web Page Cache   
London: The Force India Formula One team will come out of administration after a rescue deal involving a consortium of investors led by Canadian billionaire Lawrence Stroll, administrators and management said in a statement on Tuesday. They said...
          Scientists Find New Tricks For Old Drugs      Cache   Translate Page   Web Page Cache   
Most drugs have side effects, but sometimes they're actually good news. Researchers are now exploring whether some cheap and common drugs have side effects that could help people fight off the flu and other lung infections. This idea has a passionate advocate: Dr. David Fedson . About 10 years ago, this infectious disease specialist had a disturbing thought. He was working in the vaccine industry in France, and he started to wonder what would happen if, all of a sudden, the world was gripped with a flu pandemic. One hundred years ago, the 1918 Spanish flu pandemic swept the globe, killing 50 million people, or maybe more . Scientists fear a similar pandemic is only a matter of time. What then? Fedson wondered. "No company had a strategy for dealing with the pandemic," he says. "And also when you just looked at the arithmetic about how quickly they'd need literally billions of doses of the vaccine, which they couldn't make in time, it became very clear the you simply can't get there
          Technical Recruiter      Cache   Translate Page   Web Page Cache   
MA-Charlestown, About NTT DATA Inc. NTT DATA is a leading IT professional services provider and a regional operating unit of Japan-based NTT DATA Corporation, the 6th largest IT services provider in the world with $130 billion in revenues and over 130,000 employees across 50 countries in the Americas, Europe, Middle East, China and Asia Pacific. NTT DATA represents the North America business, which serves clients
          Starwood to Buy a GE Energy-Finance Business for $2.56 Billion      Cache   Translate Page   Web Page Cache   
The acquisition includes a roughly $2.1 billion portfolio of 51 loans backed by assets such as pipelines, power plants and wind farms, as well as $400 million of unfunded commitments.
          Newark Gets Ready to Pitch Amazon a $1 Billion Tax Package for HQ2      Cache   Translate Page   Web Page Cache   
Newark has four superhighways that run through it or near it, a big port, an international airport and two major commuter rail stations.
          Intel’s AI chip business hits $1 billion a year, with target of $10 billion by 2022      Cache   Translate Page   Web Page Cache   

Intel has sold more than 220 million Xeon processors over the past 20 years, generating $130 billion in revenues. But the latest $1 billion — generated by sales for artificial intelligence applications — may be the most important. Navin Shenoy, executive vice president at Intel, said at an Intel event that Intel’s AI chip business […]


          Samsung sets aside $22 billion for AI, 5G, and auto tech      Cache   Translate Page   Web Page Cache   

(Reuters) — Samsung Group will invest 25 trillion won ($22 billion) in artificial intelligence, 5G mobile technology, electronic components for autos, and the biopharmaceutical business in pursuit of new growth areas, Samsung Electronics said on Wednesday. In flagging specific areas of investment, the plan is the first of its kind for the conglomerate and suggests […]


          Metaari: Game-based learning market will reach $17 billion by 2023      Cache   Translate Page   Web Page Cache   
Improved VR, AR, and AI technology will drive further investment, development opportunity
          8/9/2018: World: Former PM charged with money laundering      Cache   Translate Page   Web Page Cache   
Former Malaysian Prime Minister Najib Razak has been charged with three counts of money laundering related to the alleged multibilliondollar looting of a state investment fund, adding to his troubles just three months after his stunning electoral...
          Bench Scientist      Cache   Translate Page   Web Page Cache   
MA-Andover, Bench Scientist Be part of a company that delivers life-changing healthcare solutions. Eclaro is looking for a Bench Scientist for our client in Andover, MA. Eclaro’s client is among the world’s largest pharmaceutical companies, trusted by billions to provide superior, cutting-edge, and inexpensive medicine that improves health and well-being. If you’re up to the challenge, then take a chance at t
          Fruit & Vegetable Ingredients Market worth $242.73 billion USD by 2023      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) Fruits and Vegetables are fundamental components of a solid eating routine, and their considerable day by day utilization could help counteract ailments, for example, cardiovascular sicknesses and certain malignancies. Around 1.7 million deaths over the world have...
          Comment on Musing about Losing Earth by Susan Anderson      Cache   Translate Page   Web Page Cache   
re Bret Stephens and the NYTimes: A lot of people think a public news vehicle should be a closed resource. Stephens is a fine wordsmith who presents as a rational Republican (though I'm not sure rational and Republican go together these days, still ...). Also, he's in "Opinion". Turning a blind eye to those with whom one disagrees is a mistake. Now, on climate, I've discovered he's a fan of Roger Pielke Jr. and Lomborg. The arguments sink (my opinion) but they're out there. Seriously, let's all get rich (never mind the billions subsisting on less than $2 per day, the underclass and environmental injustice) and we'll fix it later? Some technology unknown to humankind will emerge and our clever future will fix it? Not so's you'd notice. OTOH, on climate, sadly, it is reasonable to complain that the NYTimes has been facing an unreasonable situation with too much moderation. The goalposts keep moving, but intolerance from the left doesn't help. We have a huge problem across the board with the credibility and broad circulation offered to even the most extreme ideas (Qanon, for example). These days there's also a lot more excess and intolerance coming from the left. Still, somebody who can present the more civilized side of Republican ideology does belong in a major news outlet, whether we agree with him or not. He's bought the trickle-up is trickle-down arguments, but still ...
          The woman who just cost Google $5 billion revealed her next target, and it could spell trouble for Apple      Cache   Translate Page   Web Page Cache   

Silicon Valley’s greatest foe, Margrethe Vestager, has revealed her next target. The European Union’s competition commissioner wants to investigate the lack of standardization among phone chargers. The review has potential to spell trouble for Apple, as its proprietary Lightning connector is an obvious outlier in the market.

The post The woman who just cost Google $5 billion revealed her next target, and it could spell trouble for Apple appeared first on RocketNews | Top News Stories From Around the Globe.


          Saudi Billionaire Resumes Global Deal-Making      Cache   Translate Page   Web Page Cache   
Saudi Prince al-Waleed bin Talal’s $500 million spending spree on technology firms this week marks the billionaire’s return to international deal-making, after he was ensnared in a corruption crackdown at home.
          Advanced Visualization Market Analysis Report 2023      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) The global advanced Visualization market size is valued at USD 2.33 billion in 2018 and anticipated to be developing at a CAGR of 11%, to attain USD 3.93 billion by 2023. Advanced visualization systems are medical systems which are probably equipped with an advanced...
          Vascular Imaging Market is expected to reach USD 6.75 billion by 2023      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 08, 2018 ) Worldwide Vascular Imaging Market Research Report, the market is anticipated to grow at a 6.5% CAGR from 2018 to 2023 and it is estimated that the global market was valued at USD 4.93 billion in 2018 and is expected to reach USD 6.75 billion by 2023. Vascular...
          APPEA: Bight exploration could generate billions in taxes, thousands of jobs      Cache   Translate Page   Web Page Cache   
Oil exploration in the Great Australian Bight could generate over $7 billion in tax revenue and more than 2,000 jobs in South Australia, according to a new study commissioned by the Australian Petroleum Production and Exploration Association (APPEA).
          Sourcing Manager - SWEP - Saskatchewan      Cache   Translate Page   Web Page Cache   
Skipton, North Yorkshire || EMEA :. Dover is a diversified global manufacturer with annual revenue of approximately $7 billion....
From Dover Corporation - Wed, 04 Jul 2018 22:56:08 GMT - View all Saskatchewan jobs
          Andra Rush sells stake in Detroit Manufacturing Systems, steps down as CEO      Cache   Translate Page   Web Page Cache   
Andra Rush, who built Detroit Manufacturing Systems into a top-level auto supplier with $1 billion in annual revenue, has stepped down as CEO and sold her majority share in the company.
          US Senate Approves FAA Budget of $17.7 Billion for FY2019      Cache   Translate Page   Web Page Cache   
The US Senate approved a $17.7 billion FY2019 budget for the FAA Aug. 1. The funding bill was included as part of a “minibus” appropriations package, which consists of four separate appropriations bills. The minibus package passed the Senate by a 92-6 vote.
          Democratic Party's liberal insurgency hits a wall in Midwest primaries - Washington Post      Cache   Translate Page   Web Page Cache   

Washington Post

Democratic Party's liberal insurgency hits a wall in Midwest primaries
Washington Post
The Democratic Party's left-wing insurgency found its limits Tuesday night, with voters favoring establishment candidates over more liberal challengers in almost every closely watched race across several states. In Michigan, former state senator ...
Did Alexandria Ocasio-Cortez Say There's No Difference Between Billions and Trillions?Snopes.com

all 162 news articles »

          US China Trade Tariff Tit For Tat      Cache   Translate Page   Web Page Cache   
Another round of retaliatory trade tariffs was announced this week - Washington first, then Beijing responding - with 25 per cent tariffs on 16 billion dollars worth of goods. How are the markets responding? Susan Schmidt, senior portfolio manager at the Dallas-based Westwood Holdings Group, explains. California's biggest wildfire on record is expected to burn for the rest of the month. To understand the why we hear from Dr William Stewart, a Forest Management specialist at the University of California Berkeley. A new play called Lies has opened in London. The audience play the parts of bankers betting on the world economy and the actors are croupiers, who guide the bankers to financial triumph - or to worldwide financial disaster. The BBC's Vincent Dowd tried his luck.
          Puerto Rico sends costlier reconstruction plan to U.S. Congress      Cache   Translate Page   Web Page Cache   
Puerto Rico submitted a recovery plan to the U.S. Congress on Wednesday that carries an estimated price tag of $139 billion, which is 47 percent more than the bankrupt U.S. commonwealth requested in November.

          Assistant Mgr Trainee - Gillette WY - Walmart - Gillette, WY      Cache   Translate Page   Web Page Cache   
Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. With fiscal year 2017 revenue of $485.9 billion, Walmart...
From Walmart - Sat, 21 Jul 2018 12:41:10 GMT - View all Gillette, WY jobs
          Asst Mgr-WM - Gillette WY - Walmart - Gillette, WY      Cache   Translate Page   Web Page Cache   
Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. With fiscal year 2017 revenue of $485.9 billion, Walmart...
From Walmart - Sat, 21 Jul 2018 12:38:41 GMT - View all Gillette, WY jobs
          Freight Handler PAT - Walmart - Cheyenne, WY      Cache   Translate Page   Web Page Cache   
Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. With fiscal year 2017 revenue of $485.9 billion, Walmart...
From Walmart - Wed, 01 Aug 2018 18:25:00 GMT - View all Cheyenne, WY jobs
          Floor Clerical - Walmart - Cheyenne, WY      Cache   Translate Page   Web Page Cache   
Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. With fiscal year 2017 revenue of $485.9 billion, Walmart...
From Walmart - Fri, 20 Jul 2018 09:33:26 GMT - View all Cheyenne, WY jobs
          Grad Intern (hrly) - Walmart - New Martinsville, WV      Cache   Translate Page   Web Page Cache   
Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. With fiscal year 2017 revenue of $485.9 billion, Walmart...
From Walmart - Sat, 09 Jun 2018 10:04:33 GMT - View all New Martinsville, WV jobs
          Banks Maintain Mortgage Credit Standards      Cache   Translate Page   Web Page Cache   
For most single-family lending programs, credit standards at banks were little changed during the second quarter. While demand for residential loans was up at a good share of banks, it was also down at a good share.

In its July 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices, the Federal Reserve Board reported that 23 percent of large banks eased standards on loans considered eligible for the government-sponsored enterprises.

At the same time, demand for GSE-eligible mortgages increased at 23 percent of large banks -- those with at least $20 billion in domestic assets -- while it fell a 29 percent of non-large banks.



          Floating Teller - Shore United Bank - Centreville, MD      Cache   Translate Page   Web Page Cache   
In excess of $1 billion in assets, Shore United Bank is a member of the Shore Bancshares community of companies, the largest independent financial services...
From Indeed - Mon, 06 Aug 2018 20:40:06 GMT - View all Centreville, MD jobs
          Tesla board weighs Musk’s buyout bid as questions swirl      Cache   Translate Page   Web Page Cache   
Board members at Tesla are evaluating CEO and Chairman Elon Musk’s $72 billion proposal to take the electric car maker while government regulators look into whether the announcement of the potential deal meet legal requirements. Six of Tesla’s nine members said in a statement Wednesday that Musk began talking with the board about the move last week. This included discussing how being a private company could better serve Tesla’s long-term interests. Board members met several times and also addressed funding for the move, according to the statement. The eccentric Musk announced the bombshell move Tuesday on Twitter, writing that he had secured funding to buy Tesla Inc.’s shares at $420 each.
           Magic Leap's One Creator Edition can now be yours, for $2,295       Cache   Translate Page   Web Page Cache   

The Magic Leap One Creator's Edition is aimed at developers#source%3Dgooglier%2Ecom#https%3A%2F%2Fgooglier%2Ecom%2Fpage%2F%2F10000

After years of hype and billions of investment dollars, you can now buy Magic Leap's mixed reality headset – if you have deep pockets and live in one of the US cities that the device is shipping to. Aimed primarily at developers, the Magic Leap One Creator's Edition can be yours for US$2,295.

.. Continue Reading Magic Leap's One Creator Edition can now be yours, for $2,295

Category: VR

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          Europe Programmable Logic Controllers (PLC) Market, 2025 - PLC Systems In Europe Reached $2.61 Billion In 2017      Cache   Translate Page   Web Page Cache   


          AGL posts a $1 billion profit thanks to higher electricity prices      Cache   Translate Page   Web Page Cache   
The electricity provider saw its earnings jump 28 per cent as it benefited from higher wholesale electricity prices following the closure of rival-owned power stations such as Hazelwood.
          Attendant I - Discovery Co-op - North Battleford, SK      Cache   Translate Page   Web Page Cache   
The Co-operative Retailing System (CRS) is a unique, multi-billion dollar organization based on the fundamental principles of co-operation....
From Indeed - Mon, 30 Jul 2018 20:04:17 GMT - View all North Battleford, SK jobs
          Accounting Manager      Cache   Translate Page   Web Page Cache   
MA-Westwood, About the Company Our Client, a large privately held 3.5 Billion Dollar organization in Westwood, is seeking a detail oriented and dedicated Accounting Manager to be a part of their continued success and growth. Responsibilities You will be responsible for all general bookkeeping, month end close, journal entries, General Ledger, Bank Reconciliations, etc. You will have direct reports and will be
          Manager, Advertiser Analytics - Cardlytics - Atlanta, GA      Cache   Translate Page   Web Page Cache   
The big picture 1,500 banks. 120 million customers. 20 billion transactions per year. If you’re looking for big data, you found it. Cardlytics helps...
From Cardlytics - Thu, 28 Jun 2018 14:35:01 GMT - View all Atlanta, GA jobs
          California Wildfires Are Causing Billions in Damage. Who Will Pay? - TIME      Cache   Translate Page   Web Page Cache   

TIME

California Wildfires Are Causing Billions in Damage. Who Will Pay?
TIME
In the past few decades, wildfire season in California has expanded from a few months each year to a year-long phenomenon. This summer's Carr and Mendocino Complex fires — which together have burned more than 400,000 acres of land in Northern ...
The Latest: Norovirus breaks out at California fire shelterABC News
Democrats target California congressman over fire prevention stancesCNN
Largest California Wildfire Won't Be Contained Until September, Officials SayNPR
CBS News -Forbes
all 1,343 news articles »

          Yamaha Motor Earnings Continue to Rise in Second Quarter      Cache   Translate Page   Web Page Cache   
Yamaha Motor Co., Ltd. (TOKYO:7272)(ISIN:JP3942800008) announced today that in the first half of its fiscal year ending December 31, 2018, consolidated net sales of 851.3 billion yen were up 2.8% from the previous year. The company achieved all-time highs in operating income of 82.2 billion yen (up 0.1%), however saw a 5% decrease in ordinary income to 79.3 billion yen and 6.3% decrease in net income for the period attributable to parent company shareholders to 57.0 billion yen.

Yamaha Motor Earnings Continue to Rise in Second Quarter


          Drake breaks another huge streaming record following the release of ‘Scorpion’      Cache   Translate Page   Web Page Cache   

Insane numbers...

Drake

Drake has become the first artist to reach over 50 billion streams across music platforms, it has been reported. Read more: Drake, Scorpion – the NME review The Canadian rapper broke multiple streaming records following the release of his latest album, ‘Scorpion’. Just hours after it landed, Spotify announced that streams were hitting 10 million per […]

The post Drake breaks another huge streaming record following the release of ‘Scorpion’ appeared first on NME.


          Comment on Soon-to-be Released Film ‘American Circumcision’ Creating A Stir by Canine Dog      Cache   Translate Page   Web Page Cache   
I am waiting for the NETFLIX release in some months. Circumcision is not well understood and a century of false and exaggerated health benefit claims are in fact security for certain religious groups, the billion dollar a year industry and to protect medical law suites which could really over whelm the industry. That baby makes me almost afraid to watch because he is the trusting normal boy who gets betrayed and assaulted on a circumstarint.
          Farmers Continue Tariff Talk      Cache   Translate Page   Web Page Cache   
One Group Plans Ad Buys in Ag States Opposing ‘President Trump’s Trade War’ WASHINGTON (DTN) — Ag leaders in the Trump administration may have thought the announcement a couple of weeks ago of a $12 billion aid package might quell some farmer voices of unrest, but farmers remain split over the damage done by tariffs […]
          Elon Musk Wants To Take Tesla Private: Here’s Why      Cache   Translate Page   Web Page Cache   

If you pick up any list of the most impactful individuals who’d left an impact on the world, you will find that most of them are polymaths. Along the similar lines, Elon Musk has combined his knowledge of engineering, physics, programming, and business and created several multi-billion dollar companies. From time to time, he makes […]

The post Elon Musk Wants To Take Tesla Private: Here’s Why appeared first on Fossbytes.


          Crypto's $600 Billion Crash Hits New Low as Bitcoin Pain Spreads       Cache   Translate Page   Web Page Cache   

The pump and dump schemes which prevailed during the most aggressively bullish portion of the cryptocurrency bubble helped to attractive speculative flows but also act as a headwind to longer-term investors who might otherwise have had an interest.


          Record of Discussion of the Meeting of the Exchange Fund Advisory Committee Currency Board Sub-Committee held on June 28      Cache   Translate Page   Web Page Cache   
The following is issued on behalf of the Hong Kong Monetary Authority:
 
(Approved for issue by the Exchange Fund Advisory Committee on July 17)
 
Report on the Currency Board Operations (April 17 – June 14)
--------------------------------------------------------------------- 

     The Sub-Committee noted that during the review period, the Hong Kong dollar (HKD) traded within a range of 7.8427 – 7.8500 against the US dollar (USD). Since the first triggering on April 12, the weak-side Convertibility Undertaking (CU) was triggered 19 times and the Hong Kong Monetary Authority bought HK$70.4 billion under the weak-side CU. The Aggregate Balance and the Monetary Base fell correspondingly after the multiple triggering of the weak-side CU, with the Monetary Base declining to HK$1,643.77 billion at the end of the review period. The HKD firmed again towards the end of the review period, in part underpinned by seasonal demand for the HKD (e.g. corporate demand for dividend payments) and interbank demand in preparation for sizable initial public offering (IPO) activities. 
 
     The Sub-Committee noted that largely reflecting IPO-related demand, reduced interbank liquidity following triggering of the weak-side CU, expectation of US rate hikes and seasonal liquidity demand, HKD interbank interest rates picked up across the curve during the review period. 
 
     The Sub-Committee further noted that, in accordance with the Currency Board principles, all changes in the Monetary Base had been fully matched by changes in foreign reserves.
 
     The Report on Currency Board Operations for the period under review is at the Annex.
 
Monitoring of Risks and Vulnerabilities
------------------------------------------
 
     The Sub-Committee noted that in the US, although solid growth performance led the Federal Reserve Board (Fed) members to suggest a Dot Plot Median Forecast of four rate hikes in 2018, the Fed might need to weigh between rising inflationary pressures and downside risks to growth from trade conflicts further down the road. 
 
     The Sub-Committee noted that the US dollar strengthening and escalating trade tensions had put pressure on capital outflows from emerging market economies, and might weigh on their growth outlook.
 
     The Sub-Committee noted that in Mainland China, domestic demand showed signs of moderation but investment in high-value added manufacturing sectors remained solid. Rising trade tensions and signs of slower growth would pose challenges for Mainland authorities to calibrate policies to strike a balance between reducing financial risks and achieving stable growth.
 
     The Sub-Committee noted that in Hong Kong, economic growth accelerated in the first quarter and the growth momentum was expected to remain solid albeit at a slightly slower pace. The sanguine outlook was against the background of heightened uncertainties, particularly from the threat of trade tensions.
 
Interest Rate Sensitivity of Hong Kong Dollar Money Demand
--------------------------------------------------------------------
 
     The Sub-Committee noted a study which examined the lower interest rate sensitivity of HKD money demand since the global financial crisis.
          The Council on Smallholder Agricultural Finance releases ‘State of the Sector’ report      Cache   Translate Page   Web Page Cache   

CSAF2018-cover.jpgOikocredit is a member of the Council on Smallholder Agricultural Finance (CSAF), which just published its annual ‘State of the Sector’ report.

CSAF convenes 12 of the world's leading agricultural lenders, including Oikocredit, to exchange ideas, identify best practices, and develop industry standards. Its members aim to create a thriving, sustainable, and transparent market to serve the financing needs of agricultural small and medium-sized enterprises (SMEs) in low- and middle-income countries.

In 2017, CSAF members issued loans totalling $716 million to 794 businesses. These loans connected 2.2 million smallholder farmers in Africa, Asia, and Latin America to local and international markets. CSAF’s State of the Sector report was developed in partnership with MIX with support from the Small Foundation.

Read the report or view the annual State of the Sector webinar to learn more about the evolving credit market for agricultural SMEs, such as:

  • Growth and risk trends for agricultural SME lending 
  • Constraints to market growth and strategies for unlocking impact
  • CSAF’s collaboration with MIX to develop an online and publicly accessible platform where users can track trends and create customised reports on annual lending activity in the agricultural SME finance market, expected to launch in early 2019.

Together with the State of the Sector report, CSAF also launched a first-of-its-kind financial benchmarking study which provides insights into the financial performance of agricultural SME lending. The benchmarking study, conducted by Dalberg Advisors with support from USAID, analyses loan-level data for 3,500+ loans totalling over $2.3 billion made by nine CSAF members between 2010 and 2016.

Read the report or view the webinar
Read the financial benchmarking study


          GLOBAL MARKETS-Oil drops on China import data, weighing on equities      Cache   Translate Page   Web Page Cache   
*Oil tumbles on slowing China demand, trade spat. China announced retaliatory trade tariffs in response to the United States' decision to impose 25 percent tariffs on another $16 billion of Chinese goods starting on Aug. 23. "The S&P and the stock market are telling you how important the tariffs are, and the market is close to making new highs," said Bruce Bittles, chief...
          US STOCKS-Wall St flat as trade tensions mute earnings optimism      Cache   Translate Page   Web Page Cache   
*China retaliates to U.S. tariffs in equal measure. Aug 8- U.S. stocks were flat on Wednesday after China retaliated to Trump administration's latest tariffs, escalating trade tensions and muting strong corporate earnings. China said it was slapping additional import tariffs of 25 percent on $16 billion worth of U.S. goods, responding in equal measure to the...
          Braskem's EBITDA reaches R$3.2 billion in 2Q18, increasing 5% from 2Q17 and 20% from 1Q18      Cache   Translate Page   Web Page Cache   

SÃO PAULO, Aug. 8, 2018 /PRNewswire/ -- BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 2Q18. HIGHLIGHTS: Braskem - Consolidated: EBITDA amounted to US$877 million, 7% higher than in 1Q18, due to (i) higher spreads for key chemicals in...


          Japan’s ORIX to acquire 30% stake in Irish lessor Avolon       Cache   Translate Page   Web Page Cache   
Japanese financier ORIX is set to acquire 30% of Irish lessor Avolon from China’s Bohai Capital for $2.2 billion, with completion expected in the fourth quarter of 2018.

read more


          Cathay Pacific narrows loss in 1H; restructuring on track      Cache   Translate Page   Web Page Cache   
Cathay Pacific Airways reported a 2018 first-half net loss of HK$263 million ($33.5 million), narrowed from a net loss of HK$2.1 billion in the year-ago half as the Hong Kong-based carrier’s multi-year recovery and restructuring effort remains on track.

read more


          Sotheby’s Missed Out on Billionaire's $157 Million Windfall from Modigliani Sale      Cache   Translate Page   Web Page Cache   
Second-quarter commission margin at auction house declines. Shares sink 5.6 percent as Sotheby’s misses estimate

Billionaire John Magnier got a windfall from the sale of an Amedeo Modigliani nude at Sotheby’s in May. The auction house was not as fortunate.

The 1917 Nu couche (sur le cote gauche) fetched $157.2 million, an almost sixfold increase in value since 2003 when the Irish bloodstock tycoon bought it. Although Sotheby’s heralded the price as the highest auction result in its 274-year history, the painting was sold on a sole, prearranged bid. In the end, Sotheby’s didn’t keep much of its $18 million commission.

Things got worse a month later in London, when Pablo Picasso’s 1932 Buste de Femme de Profil (Femme Ecrivant) sold for about $10 million less than Sotheby’s pre-sale target.

The artworks were thrust back into focus on Monday, when Sotheby’s said its second-quarter auction commission margin fell to 14.1 percent from 16.3 percent a year ago. Investors watch the figure closely because “gross profit is really auction commission dollars,” said David Schick, managing partner at Consumer Edge Research.

The shares slipped 5.6 percent to close at $49.93, the most since February.

Michael Goss, Sotheby’s chief financial officer, attributed the decline in commission margin partly to the sale of two large guaranteed paintings. They weren’t identified during a call with investors and a Sotheby’s spokeswoman declined to comment.

The paintings show how unforgiving—and fickle—the auction business can be.

On the face of it, Sotheby’s and Christie’s sell staggering amounts. Sotheby’s tallied $3.5 billion of sales during the first six months of 2018, up 22 percent from last year and just shy of its best result at the top of the market in 2014.

As the market heats up though, auction houses are forced to give up more of their commission to win trophy artworks.

For one of the paintings, a couple of bids may have made a difference, said Chief Executive Officer Tad Smith. In the second, “we just made a pricing error.”

While Sotheby’s executives stressed that the market remains robust—with lots of supply up for grabs ahead of the next round of big New York sales in November—they conceded that it would be difficult to overcome the negative impact of the two paintings on the commission margin for the full year.

“It would be hard to make these two paintings back,” said Goss.

Sotheby’s Missed Out on Billionaire's $157 Million Windfall from Modigliani Sale

          Chip Lights Up Optical Neural Network Demo      Cache   Translate Page   Web Page Cache   
Researchers at the National Institute of Standards and Technology (NIST) have made a silicon chip that distributes optical signals precisely across a miniature brain-like grid, showcasing a potential new design for neural networks. The human brain has billions of neurons (nerve cells), each with thousands of connections to other neurons. Many computing research projects aim […]
          Construction Sealants Market 2024: Key Players Wacker Chemie AG, deVan Sealants, Inc. , McCoy Soudal , Adshead Ratcliffe & Co Ltd., Novagard Solutions, Hodgson Sealants      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 09, 2018 ) Construction Sealants Market may surpass USD 6.5 billion by 2024; according to a new research report.Positive outlook in residential and commercial infrastructure in China and India due to low VOC content, adhesion insolubility, and corrosion resistance accompanied...
          Attendant I - Discovery Co-op - North Battleford, SK      Cache   Translate Page   Web Page Cache   
The Co-operative Retailing System (CRS) is a unique, multi-billion dollar organization based on the fundamental principles of co-operation....
From Indeed - Mon, 30 Jul 2018 20:04:17 GMT - View all North Battleford, SK jobs
          Italian banking giant stops advertising on Facebook      Cache   Translate Page   Web Page Cache   
A multibillion-dollar Italian banking conglomerate has stopped advertising with Facebook until the social media company improves its ethical standards."Facebook is not acting in an ethical way," Unicredit CEO Jean Pierre Mustier said during a...
          How Dwayne 'The Rock' Johnson Became a Hollywood Sensation      Cache   Translate Page   Web Page Cache   
How Dwayne 'The Rock' Johnson Became a Hollywood Sensation
Alberto E. Rodriguez / Getty

We ask a lot of Dwayne Johnson. And he always comes through. Johnson has yet to encounter an obstacle he couldn’t overcome. He’s outlasted earthquakes (San Andreas), genetically modified rage animals (Rampage), scheming, murderous drivers (the Fast & Furious series), even mouthy comics (Central Intelligence and Jumanji). His screen heroics have made him one of the most bankable Hollywood stars in history—as close to a sure bet as you’ll find in today’s fragmented film industry. Over his career, Johnson’s movies have returned more than $8.9 billion in box office earnings worldwide.

In his newest adventure epic, Skyscraper, Johnson plays a former FBI agent and wounded amputee who must rescue his family from the tallest building in the world, which also happens to be set ablaze. We like his chances.

MAN OF THE CENTURY

From the first time he raised a taunting eyebrow from the squared circle of the WWE, Johnson has captivated a growing global audience of fans who can’t get enough of his physicality, wit, and outsize charisma. Producer, actor, wrestler, best-selling author, philanthropist—Johnson fills so many roles, you have to wonder if there’s more than one of him.

Despite his enormous success in the entertainment realm, Johnson never strays far from his athletic roots. He’s no green-screen concoction when it comes to strength and athleticism. Johnson looks the part because he works at it.

[RELATED1]

A former college football player at Miami, he still trains like an elite athlete. He lifts heavy. Stays lean year-round. Doesn’t skip leg day. A true Muscle & Fitness guy. In fact, he was named Man of the Century by this magazine in 2015.

Perhaps it’s his dedication to hard training that makes the Mr. Olympia contest so intriguing to Johnson. Unlike some who look down on bodybuilding, he’s an enthusiastic fan of the sport. His appearance at last year’s Mr. Olympia in Las Vegas was one of the weekend’s highlights, but Johnson made certain to keep the spotlight on the athletes competing.

Like Arnold Schwarzenegger before him, Johnson leveraged a distinct persona in a nonmainstream sport (or at least one not covered on ESPN) and became box office gold. Like Arnold, Johnson has expressed an interest in serving in political office, hinting at a desire to run for president.

It should be no surprise that Johnson would be intrigued by public service. He already generously gives back, using his social media platforms (e.g., 113 million followers on Instagram) to support numerous charitable causes, including The Rock Foundation, which is dedicated to the welfare of children.

Flaming skyscrapers are one thing, but can anyone fix our broken political system? Don’t count him out. Johnson is one of the few unifying forces left in a divided nation. After recent events, a Dwayne Johnson candidacy doesn’t seem so implausible.

Yes, it just may be time for the United States of The Rock. Because sometimes all you need is a big guy with a big heart.

[RELATED2]

No

          Network Engineer II - DISH Network - Cheyenne, WY      Cache   Translate Page   Web Page Cache   
Hands-on experience with the latest Cisco and Juniper switches. DISH is a Fortune 200 company with more than $15 billion in annual revenue that continues to...
From DISH - Sat, 26 May 2018 07:23:27 GMT - View all Cheyenne, WY jobs
          Comment on Aussie Agriculture Minister on Climate Change: “I don’t give a rat’s if it’s man-made or not … you shouldn’t feel afraid to turn on a heater or light at night.” by Tom Gelsthorpe      Cache   Translate Page   Web Page Cache   
"Surplus electricity?" What's that. More than a billion people have no electricity. Of the billions who do, many are so ungrateful, and so unaware of reliable electricity's importance to modern life, they're trying to make it more expensive and/or less reliable in order to "save the world." Who does that help, besides self-appointed martyrs to Mother Earth? Who does it hurt? The poor, even if they're consumed with martyr hunger and believe they deserve to suffer.
          Getting rid of the former USS Enterprise could cost the Navy more than $1.5 billion | WTKR.com      Cache   Translate Page   Web Page Cache   
Getting rid of the former USS Enterprise could cost the Navy more than $1.5 billion | WTKR.com
          Comment on Aussie Agriculture Minister on Climate Change: “I don’t give a rat’s if it’s man-made or not … you shouldn’t feel afraid to turn on a heater or light at night.” by Tom Gelsthorpe      Cache   Translate Page   Web Page Cache   
Australia is less than 1/3 of 1% of the world's population -- 25 million out of 7.6 billion on earth. That's less than Rhode Island's 1 million share of the 200 million Americans in the eastern third of the U.S. There is nothing measurable Aussies can do, or avoid doing, to change the carbon dioxide content of the atmosphere. Metropolitan Shanghai in China alone has more people than Australia. The most industrialized region in China surrounding the Pearl River delta in the Southeast, has 80 million people, more than three times the population of Australia, and almost double the population of California, the U.S. state turning the most somersaults to decrease their "carbon footprint." China imports much of Australia's coal and iron ore to continue China's modernization. China produces and consumes as much coal, steel, and cement -- all high carbon-footprint industrial materials -- as the rest of the world put together. If Australia tries to revert to a non-industrial lifestyle, China could buy all Australia's significant assets. China could demand a more generous immigration policy and recolonize Australia with four years worth of China's annual population growth, without touching their base population. When virtue-signaling becomes indistinguishable from futility-signaling, policies need to be re-examined.
          Jeff Greene attacks Gwen Graham’s ties to American Dream mega-mall      Cache   Translate Page   Web Page Cache   
The $4 billion American Dream Mall mega-mall project is now being used in the contentious fight to win the Democratic primary for Florida’s governor race. Billionaire real estate developer and Democratic gubernatorial candidate Jeff Greene released a campaign ad over the weekend, questioning U.S. Rep. Gwen Graham’s ties to the northwest Miami-Dade project and her family’s role and their neighboring development. Graham, Greene, former Miami Beach Mayor Philip Levine, Tallahassee Mayor Andrew Gillum and Winter ... [more]
          Airport Security Market By Analysis By Top Key Player: CEIA USA, Bosch Security and Safety Systems, IBM, G4S PLC, Hitachi, Lockheed Martin, Siemens, Vision-Box       Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 09, 2018 ) Market Overview: - Airport Security Market accounted for a revenue of over USD 16 billion over the forecast timespan. Continuous evolution of criminal activities, such as data thefts, cyber-attacks, and hijackings, in terms of technological complexity and method...
          FEC approves N348.6 billion for major inter-state roads      Cache   Translate Page   Web Page Cache   
The Federal Executive Council (FEC), has approved the reconstruction of Akwanga-Jos-Bauchi-Gombe road at the cost of N348.6 billion. The Minister of Works, Power and Housing, Babatunde Fashola, said the total length of the road is 420.6 kilometers. Mr Fashola, who stated this Wednesday while briefing journalists at the end of FEC meeting chaired by Acting […]
          Disney’s Streaming Plan Is Far From a ‘Dream Scenario,’ Says Analyst      Cache   Translate Page   Web Page Cache   
On Tuesday’s second-quarter-earnings call, Walt Disney (DIS) investors got a few hints of what the company’s upcoming direct-to-consumer (DTC) offering will look like when it launches in late 2019. The company has said that a major motivation behind its blockbuster $71 billion offer for the majority of 21st Century Fox’s (FOXA) entertainment assets is to acquire […]
          SEC delay on cryptocurrency ETF is more a speed bump than a red flag, market insiders say - MarketWatch      Cache   Translate Page   Web Page Cache   

Fortune

SEC delay on cryptocurrency ETF is more a speed bump than a red flag, market insiders say
MarketWatch
The cryptocurrency community was dealt another blow Tuesday when the Securities and Exchange Commission said it had pushed back the timing of a decision on the first-ever crypto-related exchange-traded fund. Despite the setback on the application ...
Bitcoin Is Plunging on Wednesday -- Here's WhyNasdaq
Crypto's $806 billion crash hits a new lowThe Sydney Morning Herald
Bitcoin ETF ruling delayed, cryptocurrency market plungesFox Business
CCN -Ethereum World News (blog) -SEC.gov
all 289 news articles »

          Tesla’s Phony Quarterly Numbers      Cache   Translate Page   Web Page Cache   
Tesla reported its Q2 numbers this past Wednesday. It reported $4 billion in revenue, up 43.4% year over year. Its net loss widened to $742 million, or $4.22 per share (some of you may have seen lower net loss and loss per share numbers but the numbers I’m using come directly from the SEC-filed 8-K, … Continue reading Tesla’s Phony Quarterly Numbers
          US stock indexes dip as oil prices sink energy companies      Cache   Translate Page   Web Page Cache   
Gains for Microsoft, Facebook and Alphabet helped technology companies finish higher. The U.S. and China both announced new tariffs: later this month each country will put a 25 percent tax on $16 billion in goods imported from the other. Karyn Cavanaugh, senior markets strategist at Voya Investment Management, said U.S. companies are expecting bigger profits in...
          Indian Regulator Clears Walmart's $16 Billion Acquisition of Flipkart      Cache   Translate Page   Web Page Cache   
The acquisition will give the US retail giant a stronger foothold in Asia's third-largest economy, where it has struggled to expand in the last decade.
          Fannie, Freddie stress test results improve significantly from last year      Cache   Translate Page   Web Page Cache   
The FHFA announced the results of the stress tests for Fannie Mae and Freddie Mac on Tuesday. And while the GSEs would still need a draw, the amount is improved from last year's amount, when they would have needed nearly $100 billion in the case of economic adversity.
          Traffic jams cost Swiss more than just time      Cache   Translate Page   Web Page Cache   
Various costs related to traffic jams totalled CHF1.9 billion ($1.9 billion) in 2015, up 7% from 2010, according to the Swiss Office for Spatial Development. In a statement released on Wednesday (link in French, German and Italian), the office said that costs stemming from wasted time accounted for 70% of the losses, having increased by 14% since 2010. However, other costs related to the climate (+12%) and the environment (+3%) also increased between 2010 and 2015. Energy costs went down slightly in the same period, dropping by 6%, while costs relating to accidents also decreased by 8%. However, the office noted, the accidents category still accounted for almost a quarter of all costs, clocking in at CHF450 million. Slow down to speed up? Calculating costs incurred due to congestion can aid in infrastructure development and the formulation of measures to reduce peak flows, the office said. In the short term, solutions could include more flexible working and teaching hours, as ...
          Aerojet Rocketdyne Leader Offers Upbeat Outlook      Cache   Translate Page   Web Page Cache   
Aerojet Rocketdyne expects to win its “fair share” of a potentially $5-6 billion amount of propulsion work for the DOD's GBSD program, a top executive says.

read more


          Magic Leap Has Launched, Hopefully With Parachutes      Cache   Translate Page   Web Page Cache   
Author: Joel Hruska ExtremeTechExtremeTech This site may earn affiliate commissions from the links on this page. Terms of use. After years of hype, closed-door demonstrations, and billions raised in funding, the Magic Leap is finally available to order, for $ 2,295. The new Creator Edition isn’t the mass market product supposedly launching later this year […]
          Asia set to open slightly lower amid US-China trade tensions      Cache   Translate Page   Web Page Cache   
China announced on Wednesday that it would retaliate against the United States by imposing a 25 percent charge on $16 billion worth of American goods. 
          Is Silicon Valley's Giant Foundation Just Hoarding Money?      Cache   Translate Page   Web Page Cache   
The Silicon Valley Community Foundation has collected billions from the tech elite. But some people complain that it's not spending enough on fixing the issues tech has created in its home.
          Samsung Investing $22,3 Billion in AI And Auto Electronics Development      Cache   Translate Page   Web Page Cache   
Samsung Investing $22,3 Billion in AI And Auto Electronics Development#source%3Dgooglier%2Ecom#https%3A%2F%2Fgooglier%2Ecom%2Fpage%2F%2F10000 Samsung, one of the biggest conglomerates on the planet, unveiled this week a huge investment plan, meant to place it at the front of several industries in the coming years. Convinced that the future lies with artificial intelligence, 5G networks, automotive electronics parts and ... Reported by autoevolution 9 hours ago.
          Elon Musk Made Himself $1.4 Billion Richer With One Tweet      Cache   Translate Page   Web Page Cache   
Elon Musk tweeted about taking Tesla private, sending shares, and Musk's net worth, soaring. Elizabeth Keatinge has more.
          Musk Wants To Take Tesla Private      Cache   Translate Page   Web Page Cache   
Tesla founder Elon Musk tweeted that he would push to take his all-electric automaker private in a deal worth billions.
          Elon Musk Now Worth $1.4 Billion      Cache   Translate Page   Web Page Cache   
On Tuesday Elon Musk's net worth rose as Tesla's stock surged after he tweeted that he was thinking of taking the company private. With a $25.8 billion net worth, he's the world's 31st richest person. He's also Tesla's largest shareholder. The tweet was only 61 characters long, but it was powerful enough to make Tesla CEO Elon Musk $1.4 billion richer. Business Insider reports Musk could climb the ranking faster if investors decide Tesla is worth more than its current $58 billion market cap.
          Tesla Shares Jump As Musk Considers Privatization      Cache   Translate Page   Web Page Cache   
SAN FRANCISCO (Reuters) - Chief Executive Elon Musk said on Tuesday he is considering taking Tesla Inc private in what would be the largest deal of its type, moving the electric car maker out of the glare of Wall Street as it goes through a period of rapid growth under tight financial constraints. 'Am considering taking Tesla private at $420. Funding secured,' Musk said on Twitter bit.ly/2Om3gn3. At $420 per share, a deal would be worth $72 billion overall.
          Tesla Board Evaluates Going Private      Cache   Translate Page   Web Page Cache   
On Wednesday Tesla Inc announced its board is evaluating Chief Executive Elon Musk’s idea of taking the company private after he brought the matter up for discussion last week. Reuters reports Musk took Tesla shareholders and the stock market by surprise on Tuesday by announcing on Twitter he was considering taking the loss-making electric car-maker private at $420 a share. This would mark the biggest such transaction in history, worth more than $70 billion.
          Tesla Costs Short Sellers $3 billion      Cache   Translate Page   Web Page Cache   
Despite the surge in its stock price, Tesla remains the most shorted US equity. Reuters reports investors betting against Tesla have lost $3 billion in August alone. The ' short burn of the century ' that Elon Musk promised back in May might have finally happened.
          Elon Musk Selling Tesla to This Fellow Billionaire Makes Sense for Both Parties      Cache   Translate Page   Web Page Cache   
Elon Musk should just sell Tesla to Berkshire Hathaway billionaire Warren Buffett. It makes sense for both parties. Musk could get paid and go about his business. Buffett could make a bet on the future of driving. Done. Meanwhile, markets continue to be hot. They are likely to stay that way for now. Register for the free 'Morning Jolt' daily newsletter here.
          Agencies encouraged to improve grant spending transparency      Cache   Translate Page   Web Page Cache   

The government's annual spending on grants dwarfs what it spends on contracts by $200 billion. Yet much of the effort devoted to spending transparency leaves out grants.

The post Agencies encouraged to improve grant spending transparency appeared first on FederalNewsRadio.com.


          National deficit grew 20% last year, partially due to Trump tax cuts      Cache   Translate Page   Web Page Cache   

The U.S. national deficit grew by 20% ($75 billion) over the past year, according to the latest report by the Congressional Budge Office, partially due to Trump's tax cuts as well as increased national spending.

Between the lines: Axios' Jonathan Swan has reported that there has been an ongoing tussle between debt-loving President Trump and his penny-pinching Budget Director Mick Mulvaney. Mulvaney has been privately pushing Trump to get more aggressive about cutting spending, but debt and deficits have, so far, only ballooned under Trump.


By the numbers:

  • Spending is up by $143 billion (4%) from last year.
  • 2018 saw a $66-billion drop in corporate taxes, largely due to Trump's newest tax policy, according to the CBO.
  • Revenue from individual income taxes, however, grew more than expected because of economic growth and wage increases, according to the CBO. But the growth was not nearly enough to compensate for increased spending.
  • The deficit, which is now at $685 billion, is expected to reach $793 billion by the end of the year and come close to $1 trillion next year.

          Scoop: UnitedHealth is buying pharmacy operator Genoa      Cache   Translate Page   Web Page Cache   

Health insurer UnitedHealth has at least a tentative agreement to buy specialty pharmacy operator Genoa Health from private equity firm Advent International, Axios has learned from a source familiar with the deal.

Bottom line: UnitedHealth is basically seeking to control a specialty channel by buying Genoa, whose 400 full-service pharmacies are located within community mental health centers.


  • We also hear that Genoa CEO John Figueroa will move on, with Genoa chief commercial officer Mark Peterson running the business for UnitedHealth.
  • Bloomberg yesterday reported that the sale price could be over $2 billion, but without naming UnitedHealth (instead it reported Walgreens as a possible suitors). No comment from any of the involved parties.
  • This is part of a broader trend of pharmacy/health insurer tie-ups, such as CVS buying Aetna.
  • No comment from Genoa, UnitedHealth or Advent.

          Behind Musk's tweet: Toying with taking Tesla private      Cache   Translate Page   Web Page Cache   

Elon Musk yesterday sent the tweet heard round the Street:

Bottom line: Only Elon Musk knows the full story here, and he isn't being very transparent with his shareholders, employees or us in the media. That's why shares today will open below $400, let alone below $420. The skepticism is on him, and will persist until he answers some pretty basic questions.


Lots to break down here:

"Am considering taking Tesla private at $420."

It's not really surprising that Musk would want to take Tesla private, given how prickly he can get when bank analysts question the company's performance. And there's always the standby argument about how long-term, strategic planning is easier at a private company than at a public one.

  • As for the $420 per share — that tracks fairly close to the market-standard 20% premium, even though it also tracks exactly to cannabis market slang.

"Funding secured."

This is where it gets really interesting. For starters, Musk doesn't identify the funders — neither in his tweet, nor in a follow-up blog post.

And multiple sources tell me it's none of the usual suspects on the debt side (i.e., big Wall Street banks). Nor many on the equity side, such as big strategics (not Apple or Uber), private equity (not KKR, Mithril, Silver Lake, TPG, etc.) nor deeper financial pockets (not SoftBank or Mubadala).

  • One big wildcard remains the Saudis, particularly since Musk's tweet came shortly after an FT report that a Saudi fund had acquired a $2 billion position in Tesla, and because the Saudis have major interest in solar energy.

No other reporter so far has managed to find any of Musk's financing partners either. Or perhaps I should say his supposed financing partners. Because...

Regulatory ruin

If Musk didn't actually have enough funding secured when he tweeted, then the SEC should come down on him like a bag of batteries. And the shorts will create a full employment act for plaintiffs' lawyers.

Companies are allowed to disclose material information via social media, but disclosing false or misleading information remains off-limits. The first part of Musk's tweet was aspirational, but the second part was factual.

Security concerns

If Musk is getting financing from a non-U.S. actor like the Saudis, expect any deal to undergo a CFIUS review. Not so much because Tesla makes connected cars or residential solar panels, but more because it's involved in utility-scale energy efforts. I'd also think the current trade tensions would eliminate any Chinese tech company from contention.

Precedent

There is none for buyout-by-tweet, but lots of folks have been comparing Musk's efforts to those of Michael Dell in 2013. But there are a lot of big differences:

  • Dell didn't publicly ponder an acquisition. He made a formal, detailed offer that named private equity and lending partners. And this led to the company forming a special committee, which hasn't happened yet at Tesla (although members of the board just said that Musk first broached the topic with them last week).
  • Dell didn't push himself to meet his quarterly number right before the takeover attempt, thus driving up the price.
  • Dell didn't offer to let existing shareholders roll over their equity (more on that in a minute), nor was there widespread belief that his company would need a subsequent cash infusion.

Structure

At $420 per share, Tesla's equity would be valued at $71.6 billion and its overall enterprise value would be around $85 billion (including debt). Musk currently holds a 19.87% equity stake, which means he'd theoretically need around $57 billion in financing. But Musk also wants to let existing shareholders roll over —maybe into a Fidelity-run special purpose vehicle, like exits has for the never-public SpaceX — so his ultimate needs could be much less.

  • It's worth noting that Musk reportedly didn't gauge major shareholder interest prior to his tweet, so the SEC should hold him to the full $57 billion when judging "funding secured."

Go deeper with today's Axios Pro Rata podcast.


          China retaliates with tariffs on $16 billion worth of U.S. goods      Cache   Translate Page   Web Page Cache   

The Chinese Ministry of Commerce announced it will levy a 25% tariff on $16 billion worth of U.S. goods, including crude oil and cars, reports CNBC.

Why it matters: This is a tit-for-tat response to the tariffs on $16 billion worth of Chinese goods announced by the Trump administration.


          Magic Leap launches its first product      Cache   Translate Page   Web Page Cache   

Magic Leap, the secretive virtual reality company, announced the launch of its long-awaited first commercial product on Wednesday.

The details: Priced at $2,295, the Magic Leap One Creator Edition is an augmented reality headset that "brings digital content to life here in the real world with us," per the company's press release, by superimposing computer-generated effects over the user's surroundings.


The big picture: Magic Leap has spent years raising billions of dollars from investors without a product to show for it. Now, the company will face its first real test as reactions roll in.

A quick take: CNBC reporter Todd Haselton, who was invited to test out the headset, writes the "experience with the goggles...was like a computer-generated 3-D world with real depth."

  • His bottom line: "The Magic Leap One is impressive, and it's unlike any computer I've used before. I see a real future in being able to interact with digital screens inside the real world around us, but Magic Leap is going to need to convince everyone else of that, too. ... I imagine we're years away from the Magic Leap that's ready for the rest of us."

          Everybody's Working On It      Cache   Translate Page   Web Page Cache   
I don't get the apparent belief that someone's going to "win" the self-driving vehicle technology race and then be the only player and collect monopoly rents. Everybody's working on it! Obviously I don't think anyone's going to "win" at all anytime soon, but there seems to be this "whoever gets to the finish line first collects the whole prize" belief.

A year after his initial estimate that Waymo was likely a $75 billion startup, Morgan Stanley analyst Adam Jonas raised it to a staggering $175 billion, citing greater revenue potential from passenger ride services and licensing of its tech. The biggest source of future revenue, however, is likely to come from autonomous trucking and delivery services, which Jonas thinks could generate as much as $90 billion.

          Business Analyst - Brookfield Asset Management - Toronto, ON      Cache   Translate Page   Web Page Cache   
Brookfield sponsors and manages funds, investment strategies and mandates on behalf of institutional clients totaling over $40 billion....
From Brookfield Asset Management - Wed, 01 Aug 2018 20:36:12 GMT - View all Toronto, ON jobs
          Gretchen Whitmer unveils education plan      Cache   Translate Page   Web Page Cache   
"I believe every Michigan kid has a birthright to a great public education," says Democratic candidate for governor Gretchen Whitmer, unveiling her campaign's plan for education on Friday. Whitmer says Michigan used to have one of the best public education systems in the country; now it's in the bottom ten. She says K - 12 schools have to get more money, so first and foremost, the state needs to stop "stealing" money from the School Aid Fund. "If we just drew a line and ensured that the School Aid Fund was used for its constitutionally intended purpose, we could infuse three-quarters of a billion dollars into our K-12 education system," she says. The plan also includes phasing in universal preschool, and tripling the number of literacy coaches in school to address the abysmal reading scores of Michigan's schoolchildren. "But you can't fix education if you don't support great people going into education," Whitmer adds, "and that's why part of the plan is getting back into a place where
          Intel sold US$1 billion of artificial intelligence chips in 2017      Cache   Translate Page   Web Page Cache   
Intel Corp on Wednesday said it sold US$1 billion of artificial intelligence processor chips in 2017, the first time the world's second-largest chipmaker disclosed revenue from the fast-growing computing segment that has fuelled sales expansions at rivals such as Nvidia Corp .
          Beer drinkers lose US appeal over Anheuser-SABMiller merger      Cache   Translate Page   Web Page Cache   
A federal appeals court on Wednesday rejected an antitrust challenge by 23 beer drinkers to Anheuser-Busch InBev SA's US$107 billion purchase in 2016 of SABMiller Plc, which they claimed would thwart competition and raise prices in the U.S. beer market.
          Tallow Fatty Acids Market to accrue huge gains via rubber & plastic applications over 2017-2024       Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 09, 2018 ) Tallow Fatty Acids Market size is poised to surpass USD 3 billion; according to a new research report. The global tallow fatty acids market size is positively influenced in the recent years due to elevating soaps & detergents across the globe. Superior conditioning...
          Tall Oil Fatty Acid Market 2018 Top Key Players - Clariant Corporation, Lanxess AG, The Weyl Chem Group, BIG SUN Chemical Corporation, Acar Chemicals       Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 09, 2018 ) Tall Oil Fatty Acid Market will likely surpass USD 1 billion by 2024 according to this new research report. Tall oil fatty acid market will be chiefly driven by products application as a corrosion inhibitor, lubricant and viscosity modifier in the oilfield sector....
          Synthetic Food Market applications and company’s active in the industry      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 09, 2018 ) The Synthetic Food Market size is estimated to exceed USD 20 Billion by 2024; according to a new research report by Global Market Insights, Inc. Having been profoundly successful in transforming the dynamics of F&B industry, synthetic food market is indeed turning...
          Non-Protein Nitrogen in Feed Market Analysis By Product, Livestock, Ammonia, Growth Potential & Forecast 2024      Cache   Translate Page   Web Page Cache   
(EMAILWIRE.COM, August 09, 2018 ) The Non-Protein Nitrogen in Feed Market size will exceed USD 1 Billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing preference to provide nutrient diet to animals is expected to propel non-protein nitrogen in feed market...
          China to slap additional tariffs on $16 billion of U.S. goods      Cache   Translate Page   Web Page Cache   
China is slapping additional tariffs of 25 percent on $16 billion (£12.4 billion) worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world's largest economies escalated their trade dispute.

          Cap Metro Wants Slice Of Federal Funding Pie To Help Ease Traffic Congestion      Cache   Translate Page   Web Page Cache   
Local money alone is not enough to improve public transit and ease traffic congestion in the region, Capital Metro CEO Randy Clarke said at a board of directors meeting Monday. For years, the region’s transit agency has been working to develop Project Connect , a plan to build a transit network that can move more people faster. Austin City Council members joined the Cap Metro board to explore how to pay for it. “The real element that we’ve got to remember is no matter what we do, local money is not going to be enough,” Clarke said, “and we need federal resources to come to the table.” Clarke noted that federal funding for transit projects is limited, and the process of getting that money is competitive. He said other cities have already requested a total of $4.5 billion from the government, and Cap Metro's proposed projects would have to get in line. “These are competitive grants,” he said. “So the pie may have gotten incrementally bigger, but the [number of] people wanting to eat the
          Could the Mayor's 'Go Big' Bond Go Bigger?      Cache   Translate Page   Web Page Cache   
Mayor Steve Adler has christened a $720 million transportation bond the " Go Big Corridor Plan ." So it begs the question, is this really that big? Seattle recently placed on a ballot a $54 billion transportation bond . But judging by other news reports, that number seems like an anomaly among municipal bond programs. Regardless, there's plenty to unpack when we discuss the "bigness" of this bond.
          Episode 7 - Anger. TV. Negativity. Oscars.      Cache   Translate Page   Web Page Cache   
Today's episode starts off angry as Tim is not a happy camper.  We then review all kinds of TV shows that we watched last night and get into another listener question about how we react to negative criticism and people just being dumb on social media. This is unscripted, real conversation. This is what happens off the air.  This is Off the Record. 0:38 - Tim is angry at everything. 3:42 - Recap of ABC's Castaways which premiered last night. 10:55 - Recap of HBO's Hard Knocks which also premiered last night. The show follows the Cleveland Browns this season. 14:23 - Recap of AMC's Lodge 49 which premiered Monday, plus comments about how the guys feel about other AMC shows like Breaking Bad. 21:33 - Jon recommends Billions to Tim and they get in a conversation about Ballers because Tim is confused. 25:50 - Tim talks about his hesitancy to watch The Tale on HBO, an Emmy nominated movie about childhood sexual abuse. 30:20 - Jon questions why violence is so widely accepted in movies and TV while sex is looked down on. 33:25 - Our "AJ Question of the Day": Is it difficult to hold your tongue some times, have you ever wanted to go off on a caller or someone online? 43:52 - Jon and Tim discuss the new changes to the Oscars such as shortening the show and adding a new "Popular Movie" category. Today's intro song is "Two Princes" by Spin Doctors.
          Samsung Plans $22 Billion for Artificial Intelligence      Cache   Translate Page   Web Page Cache   
SEOUL, South Korea (AP) — Samsung Electronics plans to spend $22 billion over the next three years on artificial intelligence, auto components and other future businesses as the company maps out its strategy under the restored leadership of Vice Chairman Lee Jae-yong after he was freed from prison. The announcement Wednesday by South Korea’s biggest business group was welcome news, coming at a time of deepening unease over slowing growth in Asia’s fourth largest economy. Samsung said it will spend the sum, amounting to 25 trillion won, on hiring artificial intelligence researchers, ensuring it will be a global player in next generation telecoms technology called 5G and deepening its involvement in electronic components for future cars. ...
          Tesla CEO's buyout bid raises eyebrows, legal concerns      Cache   Translate Page   Web Page Cache   
SAN FRANCISCO— Tesla CEO Elon Musk is seeking relief from the pressures of running a publicly held company with a $72 billion buyout of the electric car maker, but he may be acquiring new headaches with his peculiar handling of the proposed deal. If Musk can pull it off, he will have burnished his reputation as an eccentric visionary who has been compared to Tony...
          Demand for Behind the Wall Pipe Forecast to Grow 5% Annually      Cache   Translate Page   Web Page Cache   
August 8, 2018 (Investorideas.com Newswire) Demand for pipe in behind the wall (BTW) plumbing is expected to grow 5.0% annually to $6.5 billion in 2022.
          Film Review: ‘Generation Wealth’ Tells Us What We Already Know      Cache   Translate Page   Web Page Cache   

CHICAGO – When it comes to really being rich, what do we already know? Money doesn’t buy happiness. Family and friendship connections are more important than accumulation. Yet those simple lessons keep being broken up by the excess of more, the values of which are in the documentary “Generation Wealth.”

HollywoodChicago.com Oscarman rating: 4.0/5.0
Rating: 4.0/5.0

Directed by photographer/filmmaker Lauren Greenfield, “Generation Wealth” is a hodge podge of different stories that eventually add up to those truths that we all know. However, the journey to get there takes different paths, and often those paths are paved with gold. Attitudinally, we all currently live in a society that values the benefits of wealth over anything else (if we’re being honest with ourselves). And basically, the profiles in the film are about those values… the ones that elected a a “rich” (yet fundamentally sociopathic) man as president, the ones that have two billionaires running for a state governor’s office that becomes only an excuse to own something else, and the ones that have people waiting in line to buy a thousand dollar phone (trading in one that works perfectly fine) while in another part of the city 50 people are shot in one weekend. Yeah, the film will make you think about all this.

Lauren Greenfield has spent over 25 years as a successful photographer, cultural essayist and filmmaker. What she began to realize is that the major theme of all her work was the lifestyles of the wealthy in America and internationally. To make the film (along with the book companion and gallery display) she begins to examine the victims in the pursuit of wealth, and even herself as their photographer.

Profiled in the film is Cathy, who obsessed on plastic surgery; Florian (and his son Conrad), a hedge fund manager who eventually defrauded his clients; Kacey, a porn star who tasted the good life with Charlie Sheen; Valbjörn, an Icelandic fisherman turned banker turned fisherman; three now-grown high schoolers that were the subject of Greenfield’s first look at Los Angeles excess; and Suzanne, a driven hedge fund exec who finally had time for a baby at 40, but found she couldn’t get pregnant. All came to some conclusions, but do they all stick?

“Generation Wealth” is currently in limited nationwide release, including Chicago. See local listings for theaters and showtimes. Written and directed by Lauren Greenfield. Rated “R”

StarContinue reading for Patrick McDonald’s full review of “Generation Wealth”

GW1
Mother and Child Reunion on Display in ‘Generation Wealth’
Photo credit: Magnolia Pictures

StarContinue reading for Patrick McDonald’s full review of “Generation Wealth”


          Oil drops on US trade dispute with China      Cache   Translate Page   Web Page Cache   
China imposed additional tariffs of 25% on $16 billion worth of US imports
          Bench Scientist      Cache   Translate Page   Web Page Cache   
MA-Andover, Bench Scientist Be part of a company that delivers life-changing healthcare solutions. Eclaro is looking for a Bench Scientist for our client in Andover, MA. Eclaro’s client is among the world’s largest pharmaceutical companies, trusted by billions to provide superior, cutting-edge, and inexpensive medicine that improves health and well-being. If you’re up to the challenge, then take a chance at t
          The necessary priorities      Cache   Translate Page   Web Page Cache   
Kate Randall (WSWS) offers a really important article:
 
For an increasing number of older Americans, life in retirement is the diametric opposite of the “golden years.” Instead of being comfortably cushioned by a pension and Social Security, a significant section of the senior population faces dwindling income, vanishing pensions, inadequate savings, mounting health care costs and rising debt. Debt collectors are visiting them at their low-paying jobs or knocking at their door.
A new study by the Consumer Bankruptcy Project finds that this “perfect storm” of adversity is translating into desperation. “When the costs of aging are offloaded onto a population that simply does not have access to adequate resources, something has to give,” the study states, “and older Americans turn to what little is left of the social safety net—bankruptcy court.”
The research documented in “The Graying of US Bankruptcy: Fallout for Life in a Risk Society,” finds that the rate of people 65 and older filing for bankruptcy is three times what it was in 1991. The same age group also accounts for a far greater share of all bankruptcy filers. The study suggests that this surge in filings by seniors is being driven by a three-decade-long shift of financial risk from the government and employers to individuals.
Seniors must wait longer for full Social Security benefits (age 70 rather than 65), defined benefit pensions have been replaced with 401(k)s, and older people are spending more out of pocket for medical care not covered by Medicare. Stagnant and declining incomes, job loss and the inability to find a decent-paying job to make ends meet are compounding the problem. Many seniors are one illness, accident or income drop away from financial ruin.

That is so frightening.  And I immediately thought of several relatives and friends who are in that risk category.

There's no reason for this.  There is more than enough money for war.  There should be more than enough money to take care of the American people.

We really need to demand politicians start prioritizing our real needs -- we don't need a dime for war.

This is C.I.'s "Iraq snapshot" for Tuesday:


Tuesday, August 7, 2018.

We're going to start with something non-Iraq at all (we'll also be ending with something non-Iraq).  I know Illeana Douglas and have known her for years.  As Rebecca noted last month, I first heard of Leslie Moonves' assault of Illeana years ago.  At THIRD this week, we did "Unlike Alyssa Milano, we'll stand with Illeana Douglas."  (Ann offered "Alyssa Milano reveals she doesn't give a damn about women" last night.)

Alyssa Milano is not who she claims or self-presents as.  Rose McGowan rightly called her a lie.  Though Corey Feldman was sympathetic to her, he publicly mocked her -- rightly so -- when she claimed she never had any idea that he or Corey Haim had been molested as children.  She knew.  She claims she never knew that Brad Kern was abusive to women on the set of CHARMED -- where she was a producer.  Everyone else knew.  There were complaints.  Repeated complaints.  She took a producer's credit (and pay) and it was her job to provide a safe work environment.  She failed.  To TIME magazine and others, she has presented herself as the head of #MeToo (after stealing the phrase from African-American  woman Tarana Burke -- one of her many cultural appropriations).  Yet though she Tweets over and over daily, she's still not Tweeted about Illeana or any of the other women who spoke out in Ronan Farrow's NEW YORKER piece.


Not one Tweet.  CAA is the reason I'm not part of #MeToo.  CAA pimped out women constantly.  There's a foreign actress who appeared in several hit films and was used by CAA before and after.  They pimped her out.  She remains destroyed today.  (If she chooses to tell her story publicly, I will support her.  Currently, she's still in therapy attempting to deal with what they put her through.)  Alyssa's married to CAA's David Bugliari and Alyssa's a "CAA speaker" that you can 'book.'

Alyssa's silence backs up everything many of us have long said.  She's is not a friend to women, she is stilted actress determined to self-promote, desperate for a career.  She is not about empowering women.  She's is about co-opting anything she can.

As for CBS, Leslie is part of a long pattern there that began with William Paley and the hell he put his wife (Babe Paley through) -- one affair after another, while he stopped having sex with her early in their marriage, his refusal to allow her to raise their children or even hug them in front of him.  He was pure filth and set the tone all those years ago.  CBS has always been hostile to women.  Most networks would be thrilled to have a hit show but CBS has always only been thrilled to have a hit show if it starred men.  Whether we're talking DESIGNING WOMEN, CAGNEY & LACEY, CYBILL, THE NANNY or the now returning MURPHY BROWN, CBS repeatedly undercuts and undermines their programs with female leads, undercutting them, pushing them through one time change after another, etc., etc.  At THIRD, Ava and I have long documented the institutional sexism at CBS and we've done it for a reason.

Leslie is guilty and if I were Julie Chen, sleeping with my married boss and then lucky enough to get him to leave his wife for me, I guess I'd rush forward to defend him too.  I mean, what career would Julie have if she hadn't slept with Leslie?  None at all.  I could go on and on here.

The point is Illeana told the truth and has been telling it to a number of us over the years.  And CBS has made clear that they do not take harassment seriously by allowing Moonves to remain on the job while he is under investigation.  He should be put on administrative leave.  Anything less goes to CBS not taking the issue seriously.  He is accused of harassment and attempted rape.  These are serious charges.  If you take them seriously, you put him on administrative leave until the investigation is over.  Otherwise?  You're saying work safety and the right of women to be safe at work does not matter.

Grasp that fake ass Alyssa is not just refusing to stand up for Illeana, she's refusing to stand up for women who may encounter Leslie.  He needs to be removed during the investigation.


Meanwhile, protests continue in Iraq.

Why?  Each year, Iraq rakes in billion from oil sales.  And the World Bank estimates the current population of Iraq to be 37.2 million.

With that kind of money coming in and that small of a population, meeting the needs of the people should be easy.

But it hasn't been.  The World Bank notes, for example, "The poverty rate increased from 19.8 percent in 2012 to an estimated 22.5 percent in 2014."  How does that happen?  Government corruption.  Politicians and officials stealing the public's money.

And it leaves nothing for the people.  Hence the video below.



Another video of Iraqi children eating from the garbage.



0:19

142 views










Live Right: The Protests

Pockets of are ongoing throughout cities in the south of the country, perhaps not as large as in recent weeks, but will the same demands of electricity, potable water and employment. looks at the situation. 🇮🇶💪🏼



28 views
0:08 / 1:29


1:21

28 views







The corruption has enriched many.  Nouri al-Maliki's son, for example, has some really swank living spaces in England and some really sporty cars.  That's nice for a man who's never really worked in his life.  But that's awful for the Iraqi people.

The Iraqi people are protesting to save their lives.  They are risking their lives with these ongoing protests and 14 have already died.




The excessive violence and cruelty used by the Iraqi security forces ended the lives of 14 demonstrators in 10 days of ongoing protests calling for economic and service improvements," the Iraqi Observatory for Human Rights said."







They are demanding basic rights including access to electricity and potable water, including jobs.

These protests are now a month old and it's amazing how many of the Twitter 'social justice warriors' have ignored these protests.

Why do they have to protest?

Among other things because the US government destroyed Iraq with the (ongoing) war.  The US still bombs Iraq.  Monday, the US Defense Dept announced:




Strikes in Iraq
There were no reported strikes conducted in Iraq yesterday.
On Aug. 4 near Dulab, coalition military forces conducted a strike consisting of an engagement against ISIS targets, destroying two ISIS tunnels.
On Aug. 3 near Wadi Ashai, coalition military forces conducted a strike consisting of an engagement against an ISIS tactical unit.
There were no reported strikes conducted in Iraq on Aug. 2.
On Aug. 1 near Wadi Ashai, coalition military forces conducted a strike consisting of five engagements against ISIS targets, destroying two ISIS-held buildings and three ISIS supply caches.
On July 31 near Wadi Ashai and Wadi Zagatoon, coalition military forces conducted two strikes consisting of two engagements against ISIS targets, destroying an ISIS-held building.


On 30 July 30 near Wadi Ashai, coalition military forces conducted a strike consisting of an engagement against ISIS targets. The strike engaged an ISIS tactical unit.

The US government turned Iraq into a land of widows and orphans.  And it compounded the problems by 'selecting' Iraq's prime ministers.  Yesterday, we went over Nouri al-Maliki and Barack Obama, then-US president, selected Hayder al-Abadi to replace him in 2014.  (After Nouri's actions led to the rise of ISIS in Iraq.)




Supporting Abadi "was the easy way for the US to try to protect the gains it has made in Iraq over the last four years without having to do the substantial groundwork that would have been required to build up a range of political alternatives"
          Beer drinkers lose U.S. appeal over Anheuser-SABMiller merger      Cache   Translate Page   Web Page Cache   
A federal appeals court on Wednesday rejected an antitrust challenge by 23 beer drinkers to Anheuser-Busch InBev SA's $107 billion purchase in 2016 of SABMiller Plc, which they claimed would thwart competition and raise prices in the U.S. beer market.

          Birthright co-founder Charles Bronfman says if young Jews want to criticize Israel, they should pay their own way      Cache   Translate Page   Web Page Cache   

JERUSALEM (JTA) — Birthright Israel co-founder and billionaire philanthropist Charles Bronfman said that young Jews are free to criticize Israel — but not while enjoying a free trip. “If people want to call Israel names and say bad things about the country, they certainly have the right to free speech. But they don’t have the...

The post Birthright co-founder Charles Bronfman says if young Jews want to criticize Israel, they should pay their own way appeared first on Jewish Telegraphic Agency.


          Global Military Aircraft Engines Market Is Expected to Grow at a CAGR of 4.47% and Reach USD 16.7 Billion by 2028 from USD 10.8 Billion in 2018      Cache   Translate Page   Web Page Cache   

New The Global Military Aircraft Engines Market 2018-2028 Report Covers market forecast and top Companies like CFM International, Rostec, Rolls-Royce, Honeywell, General Electric and others.

Lewes, DE -- (SBWIRE) -- 08/08/2018 -- The Global Military Aircraft Engines Market 2018-2028, report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for military aircraft engine, key market trends, and challenges faced by industry participants.

The expenditure on military aircraft engines sector is expected to be driven by the need to replace ageing aircraft and rotorcraft fleets, growing geopolitical rivalry, and engine refit and replacement programs.

Scope
- The global military aircraft engines market, valued at US$10.8 billion in 2018, is projected to grow at a CAGR of 4.47% over the forecast period, to reach US$16.7 billion by 2028 and cumulatively value US$146.4 billion.
- The market consists of four categories: combat aircraft engines, transport aircraft engines, rotorcraft engines, and other aircraft engines.
- The market is expected to be dominated by the combat aircraft engines segment, which will account for 60.3% of the market, followed by transport aircraft engines, and rotorcraft engines segments with shares of 17.4% and 13.9% respectively.
- North America is forecasted to dominate among the regions in the sector with a share of 37.1%, followed by Asia Pacific and Europe, with shares of 24.1% and 21.6% respectively.

Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global military aircraft engine market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different military aircraft engine segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global military aircraft engine market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military aircraft engine market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top military aircraft engine solution providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available

Spanning over 173 pages "The Global Military Aircraft Engines Market 2018-2028" report covers Executive Summary, Global Military Aircraft Engines Market - Overview, Global Military Aircraft Engines By Region, 2018-2028, Global Military Aircraft By Engines Segment, 2018-2028, Global Military Aircraft Engines Market - Segment Analysis, Global Military Aircraft Engines Market - Regional Analysis, Global Military Aircraft Engines - Regional Overview, 2018 & 2028, Competitive Landscape Analysis, Appendix. This report Covered Companies - CFM International, Rostec, Rolls-Royce, Honeywell, General Electric, United Technologies Corporation, Safran S.A., Hindustan Aeronautics Limited, Aero Engine Corporation of China.

Please visit this link for more details: https://www.marketresearchreports.com/strategic-defence-intelligence/global-military-aircraft-engines-market-2018-2028

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          Dog Days! US Yield Curve Flattens      Cache   Translate Page   Web Page Cache   
Unlike the recent Treasury auctions, today’s $26 billion 10-year Note auction went off without a hitch.
          Bigger slice of $3b government ICT spend could go to small, young firms      Cache   Translate Page   Web Page Cache   
The Government is promising to make it much easier for younger and smaller businesses to win a larger share of the $3 billion it spends on information technology products and services each year.
          California Wildfires Are Causing Billions in Damage. Who Will Pay?      Cache   Translate Page   Web Page Cache   
In the past few decades, wildfire season in California has expanded from a few months each year to a year-long phenomenon. This summer’s Carr and Mendocino Complex fires — which together have burned more than 400,000 acres of land in Northern California — follow a string of smaller but still disastrous blazes earlier this year…
          China’s July exports accelerate despite U.S. tariff hike [UPDATED]      Cache   Translate Page   Web Page Cache   
The politically volatile trade surplus with the United States expanded by 11 per cent to US$28 billion
          AGL triples annual profit to $1.587b      Cache   Translate Page   Web Page Cache   
Energy retailer AGL's profit has shot up by nearly 200 per cent to $1.587 billion.
          Rain, high prices deliver expected $6b return for WA grain farmers      Cache   Translate Page   Web Page Cache   
WA’S grain farmers could pump a record-breaking $6 billion into the economy this harvest thanks to a combination of high prices and good rains.
          SC reopens Nandipur power project case      Cache   Translate Page   Web Page Cache   
ISLAMABAD: The Supreme Court on Wednesday reopened the Nandipur power project case. Nandipur power project was established in 2005 to generate 525 megawatts of electricity. It was estimated to cost Rs 22 billion but its cost went up to Rs 58 billion due t
          Pakistan defends economic partnership with China      Cache   Translate Page   Web Page Cache   
ISLAMABAD: Pakistan Wednesday defended its economic partnership with China, amid fears that the terms of multi-billion dollar investments by Beijing could be exacerbating Islamabad's economic woes as it considers a fresh International Monetary Fund (I
          Privatisation: need of the hour?      Cache   Translate Page   Web Page Cache   
As Pakistan accumulates more debt than it can handle, it is still in dire need of billions of dollars. The burning question on many minds, is if the new government should move towards privatisation? Privatisation is a neoliberal and imperialistic plan; sp
          Subnational regulations and competitive populism      Cache   Translate Page   Web Page Cache   
It was published in The Kathmandu Post, 07 August 2018.

Competitive populism

An emerging but entirely predictable major headache for federal government is the tendency of subnational governments to engage in a race-to-the-bottom revenue policy. Provincial and local governments have introduced overlapping tax regimes and are openly sparring with the federal government to assert their rights as per their own understating of power mentioned in the constitution. 

The uncertainty over tax regime and the subnational government’s jurisdiction with respect to mobilizing certain type of taxes have unnerved business community and potential investors. A competitive populism instead of cooperative and competitive federalism will have negative consequences on budget execution and investor sentiment. Note that this has happened even when the ruling Nepal Communist Party has two-thirds majority at federal as well as subnational levels. 

Subnational budget

All seven provinces as well a majority of local governments have introduced fiscal year 2018/19 (FY2019) budget, the first under the federal set up. Federal transfers (fiscal equalization, conditional, special and matching grants) and revenue sharing form the basis for their budget. In fact, total federal fiscal transfer and revenue sharing account for over 90% of provincial budget. They plan to cover remaining budget gap by raising revenue (province 2 and Karnali governments plan to borrow one billion rupees internally as well). Provincial and federal budget together tops Rs1552 billion, of which about 28.6% consists of capital budget. Similarly, a majority of the 753 local governments have presented FY2019 budget in line with federal and provincial fiscal transfers and revenue sharing. They plan to raise revenue by imposing local taxes when their expenditure plan is in excess of fiscal transfers and revenue sharing.

The whole process of designing expenditure priorities and revenue policy is supposed to be cooperative and competitive so that all tiers of government have synchronized and coherent plans to boost economic activities (and probably help the government realized its overarching motto “Prosperous Nepal, Happy Nepali”, irrespective of how that is measured or what is means!). This appears not to be the case right now. Several provincial and local governments are at loggerheads with the federal government over their jurisdiction in designing revenue policy. Note that they don’t have much say over expenditure priorities owing to the fact that the constitution is clear on what public services they must provide and how federal transfers are to be utilized for that purpose. 

Fiscal management

The subnational governments are aspirational and want to do more with larger budgets, which require more and bigger sources of revenue. Besides fiscal transfers and revenue sharing, they have limited options: internal loan, raising taxes and widening tax net as well as taxable economic or social activities. Currently there is a lack of clarity on procedures and regulatory framework to raise internal loans. So, most of the subnational governments have resorted to either raising taxes and/or including any economic activities under the tax net. This has pitted the subnational governments against the federal government, leading to a regulatory regime that looks like a race to the bottom and especially damaging to improving investment climate.  

For instance, province one has imposed district export tax on agricultural and forest items against the spirit of the constitution. Upon a challenge by the federal government that intra and inter province movement of goods should be free, province one government renamed it sales tax. All they did was to change the name of tax but keeping its distortive nature intact. Similarly, province two is imposing natural resources tax, province five is charging entry fee to Indian vehicles, province seven is imposing a fee on registration and renewal of industries, province three is imposing export tax, and Karnali province is imposing taxes on inter-district export of mining and quarrying items. Meanwhile, several local governments have drastically increased or introduced taxes on tourism, transport and small business activities— the lifeline of local economies and employment. 

This kind of uncertainty and tax policy disarray kills the spirit of federalism rooted in cooperative and competitive interaction among the three tiers of government. Two course corrections are important going forward. 

First, the federal government should immediately work to resolve this matter as this kind of uncooperative federalism harms local businesses and potential investment. Ministry of Finance, Prime Minister’s Office, National Planning commission and Ministry of Federal Affairs and General Administration need to work together with subnational governments to create not only a coherent and consistent expenditure plan, but also a revenue policy that is unambiguous to business community and one that is geared toward boosting local economic activities. Unfortunately, the federal government itself is weak in fiscal management and governance exercise, evidenced by the dismal capital budget execution record and its singular focus on mobilizing revenue. The subnational governments are thinking that their success lies in raising more revenue to fund more recurrent spending type commitments they made to voters before the elections. Alas, this is fiscally fatal, kills entrepreneurship and harms investment prospects. Confusion is also cropping up due to the delay by the federal government to introduce laws and policies to implement the constitution. 

Second, the federal government should facilitate competitive federalism between provincial and local governments to boost investment and commerce. They should be focusing on attracting investment in their region by rolling out regulations that eases cost of doing business, provides tax and land concessions, and raises productivity by supplying necessary infrastructure. Furthermore, the subnational governments should compete to attract more fiscal transfers by improving budget execution as more meaningful and efficient projects of subnational governments tend to attract more fiscal transfers. 

The subnational governments must compete to attract more investment and to boost growth instead of competing on regulatory regimes that sets them on a path to the bottom. 

          Nektar stock swings to after-hours loss following earnings beat      Cache   Translate Page   Web Page Cache   

Nektar Therapeutics shares swung lower in the extended session Wednesday after the biotech company reported quarterly earnings. Nektar shares, which had been up as much as 5% after hours, were last trading down 4.6% in the extended session, following a 2.5% gain to close the regular session at $55.96. The company reported second-quarter net income of $971.5 million, or $5.33 a share, compared with a loss of $59.9 million, or 39 cents a share, in the year-ago period. Revenue rose to $1.08 billion from $34.6 million in the year-ago period. Analysts surveyed by FactSet had estimated $5.22 a share on revenue of $1.03 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


          Sergio Marchionne, Who Guided Fiat Chrysler's Dramatic Turnaround, Dies       Cache   Translate Page   Web Page Cache   
Sergio Marchionne, who led Fiat Chrysler to prosperity in the face of a stubborn recession and a host of other challenges, has died. He was 66. Just days ago, he stepped down from his role leading one of the world's largest car companies because of health problems. Fiat Chrysler rushed to name a new CEO last weekend after it became clear that Marchionne would not be able to return to work. The widely admired executive had suffered complications from shoulder surgery, and his health rapidly deteriorated. He died at University Hospital in Zurich. Marchionne was a visionary at a time when the auto industry was sorely in need of one. He became Fiat's chief executive in 2004. The company had been hemorrhaging billions of dollars annually. Marchionne brought it back to profitability in just one year, recording income of nearly 1.5 billion euros in 2005. In the process, he slimmed down Fiat and sliced away many of its debts. Five years later, Marchionne became the CEO of the combined Fiat
          Hundreds Of People Missing After Dam Collapses In Laos      Cache   Translate Page   Web Page Cache   
Updated at 10 a.m. ET July 26 Several people reportedly were killed and hundreds of people were missing after the failure of a dam in the Xe Pian-Xe Namnoy hydroelectric project in southern Laos. The collapse of the dam, which is part of a larger dam network, has flooded villages and forced thousands of people to flee, state media report. The full scale of the disaster isn't yet known. The state news agency KPL initially reported that the collapse released 5 billion cubic meters of water, sweeping away several houses in the Sanamxay district of Attapeu province. It later changed that figure to say 0.5 billion cubic meters had been released. Photos from the area show people crowded onto long boats to escape the high water, while others climbed onto rooftops with the belongings they could carry. Officials were asking neighboring provinces for assistance — and for anyone with a boat to help ferry people to safety. The flash flooding happened Monday night, according to the state-sponsored
          Zuckerberg Looks To Clear Up Stance On Facebook, Fake News And The Holocaust      Cache   Translate Page   Web Page Cache   
Facebook CEO Mark Zuckerberg is clarifying remarks he made about whether his platform should remove content posted by Holocaust deniers, saying he wasn't defending them when he commented that it was hard to know their intentions. His initial comments set off intense criticism earlier this week. "I personally find Holocaust denial deeply offensive, and I absolutely didn't intend to defend the intent of people who deny that," Zuckerberg wrote to Kara Swisher of Recode on Wednesday, the day after the site published a lengthy interview with the billionaire. In the original interview, Swisher asked Zuckerberg about Facebook's policy of taking down fake news — something it has combated using a variety of approaches after fake news sources were found to have been used to manipulate voters in the 2016 presidential election. Swisher used the Sandy Hook school massacre as an example, asking Zuckerberg why Facebook would allow an organization to post a conspiracy theory that claims the killings
          Arsenal’s ‘silent Stan’ unfazed by unhappy fans      Cache   Translate Page   Web Page Cache   
London (AFP) – American businessman and entrepreneur Stan Kroenke is unlikely to be upset by the outpouring of heated opposition from Arsenal fans following his takeover of historic Premier League club. The hard-nosed multi-billionaire from...
          Floating Teller - Shore United Bank - Centreville, MD      Cache   Translate Page   Web Page Cache   
In excess of $1 billion in assets, Shore United Bank is a member of the Shore Bancshares community of companies, the largest independent financial services...
From Indeed - Mon, 06 Aug 2018 20:40:06 GMT - View all Centreville, MD jobs
          8/8/2018: FRONT PAGE: I’D BET MY £3.6BN EU WILL GIVE US TRADE DEAL      Cache   Translate Page   Web Page Cache   

TYCOON Peter Hargreaves yesterday insisted he would bet his vast fortune that a no-deal Brexit would force the EU to give us free trade afterwards. The financier, left, whose personal wealth is thought to be £3.6billion, dismissed the
          8/8/2018: NEWS: The £5billion palace restoration that can no longer be ignored...      Cache   Translate Page   Web Page Cache   
THE Houses of Parliament have been branded a near “death trap” which require a constant battle to keep in working order for staff and visitors. There has been an increase in incidents of falling stonework, while many MPs tell of unpleasant lavatory...
          8/9/2018: WORLD: DIRTY MONEY CHARGES      Cache   Translate Page   Web Page Cache   
FORMER prime minister Najib Razak has been charged with three counts of money laundering over the multi-billion-dollar looting of a state investment fund. Last month, he pleaded not guilty to abuse of power and breach of trust charges. All of the...
          Concern in Arkadelphia highlights trade fears in US states      Cache   Translate Page   Web Page Cache   
ARKADELPHIA -- A Chinese company's announcement two years ago that it would spend more than $1 billion and hire hundreds of workers for a paper mill on the outskirts of this rural college town was ... - Source: www.nwaonline.com
          As trade battle rages, an Arkansas town waits and worries      Cache   Translate Page   Web Page Cache   
ARKADELPHIA — A Chinese company's announcement two years ago that it would spend more than $1 billion and hire hundreds of workers for a paper mill on the outskirts of this rural college town was ... - Source: www.arkansasonline.com
          As Trade Battle Rages, Arkadelphia Waits, Worries      Cache   Translate Page   Web Page Cache   
The threat of a full-blown trade war has delayed the $1 billion Sun Paper project near Arkadelphia and prompted Gov. Asa Hutchinson to send his top economic development official to China to make sure ... - Source: www.arkansasbusiness.com
          8/8/2018: CITY & BUSINESS: MARKET REPORT      Cache   Translate Page   Web Page Cache   
INVESTMENT giant Standard Life Aberdeen was 14¾p richer at 321¼p despite a £16billion drop in funds under management over the half-year to £610.1billion as it said it would kick-start the first tranche of a £1.75billion share buyback within...
          HTC reports its lowest revenue numbers since 2003      Cache   Translate Page   Web Page Cache   
Things are still bad for HTC. HTC recently published its official earnings report for Q2 2018, and to not much surprise, things aren't looking too hot for the Tawainese company. During this past July, HTC saw just NT $ 1.4 billion in total sales. While that may sound like a big figure, it's down 37.23% from June's sales and 77.41% lower compared to July 2017 numbers. In other words, HTC just had its weakest month since August of 2003. Disappointing sales throughout the first seven months of 2018 has resulted in a 53.98% decrease in revenue compared to this time last year, and as such, HTC's reported total net losses of NT $2.09 billion, However, thanks to capital gains and completing the USD $1.1 billion sale of 2,000 employees from its smartphone division to Google, HTC still saw a net profit of NT $19 billion. If you've been following HTC's business performance for the past few weeks, you'll know that these numbers aren't surprising in the slightest. The last earnings report ...
          Samsung Announces $22 Billion Investment In Breakthrough 5G And AI Initiatives      Cache   Translate Page   Web Page Cache   
Samsung Announces $22 Billion Investment In Breakthrough 5G And AI Initiatives Samsung is betting big on artificial intelligence and 5G technologies to drive future growth (among a few other technology segments). Exactly how big are we walking? Well, the South Korean electronic giant announced plans to invest 25 trillion South Korean won (around $22.3 billion in US currency) over the next three years in AI, 5G, automotive
          The Cloud Is the New Normal [Comic]      Cache   Translate Page   Web Page Cache   

The Cloud Is the New Normal

A researcher reports that the $180 billion cloud services market is now growing three times faster than cloud infrastructure hardware and software.

Geez! We are depending on cloud provider environments more and more, day after day, isn’t it? Well, if it serves the purpose, then why not!


          China Tower - world's largest mobile infrastructure company goes IPO      Cache   Translate Page   Web Page Cache   
China Tower, which had been pitched as the world's largest IPO - and not just for telecoms, drew lacklustre investor enthusiasm this week as its shares began trading on the Hong Kong Exchange. Trading opened on Wednesday at the bottom of the forecasted range at HK$1.26 and closed at exactly the same price. This raised HK$54.3 billion (US$6.9 billion) for China Tower, funds that will be much needed for the very capital intensive undertaking of preparing China's physical infrastructure for 5G.

The $6.9 billion IPO makes China Tower's listing one of the biggest in recent years, but far below the record US$25 billion that Alibaba raised in its IPO in New York four years ago. 

In investor roadshow briefings last month, China Tower executives talked about raising as much as US$8.7 billion in the IPO. The pre-IPO chatter had also mentioned Alibaba as a cornerstone investor in China Tower, presumably bringing along with many other of the country's high-tech powerhouses. Joint bookrunners and lead managers for the IPO included a who's who in international finance: CICC, Goldman Sachs, J.P. Morgan, BNP Paribas, HSBC, UBS, etc. 

With this pedigree, many will be wondering whether China Tower's tepid IPO reception is the result of fundamental questions about the company's business, or unfortunate timing during a period of trade tensions and market uncertainty.

Some background

China Tower is the Beijing-based infrastructure business that consolidated the tower operations of the country's three mobile operators: China Telecom, China Unicom, and the leader, China Mobile. As such, China's mobile communications infrastructure is literally in this company's hands. 

As of March 31, 2018, China Tower operated and managed 1,886,454 sites and served 2,733,500 tenant equipment contracts from its investor/owners. This makes China Tower the number 1 tower company in the world in terms of sites, revenue, and contracts.

In terms of being a key component of the country's critical infrastructure, China Tower cannot fail or be disrupted in any financial or physical sense without harming the nation and its cyber ambitions. For this reason, it seems inconceivable that China Tower could be hindered by competition, legal disputes, or any lack of regulatory support in its mission. The prospectus for China Tower even states this as such:

"We are the world’s largest telecommunications tower infrastructure service provider with a commanding market position in the PRC. As the coordinator of the co-location of telecommunications tower infrastructure in the PRC, our site resources and services are essential and fundamental to the nationwide enhancement of 4G network and the future build-out of 5G network by China Mobile, China Unicom and China Telecom (the “Big Three TSPs”) in the PRC telecommunications market."

China Tower is present in all 31 provinces, municipalities and autonomous regions in the PRC, covering all cities and extensive rural areas. There are a few other, very minor tower companies in business, but it is safe to say that China Tower has the market pretty much wrapped up. Essentially, it is the dedicated utility in a rapidly expanding market.

In July's investor roadshow, China Tower estimated that 60% of the proceeds from the IPO would be dedicated to CAPEX for building new towers and upgrading existing ones. Under this plan, the now completed IPO yields a CAPEX budget of US$4.14 billion for the infrastructure program and US$2.76 billion for debt relief. 

China Tower's balance sheets lists current liabilities of 96.4 billion yuan (US$14.17 billion) and non-current liabilities of 48.2 billion yuan (US$7.08 billion). The budget for 2018 apparently is $34 billion

The CAPEX budget will be tight for 5G

China Tower has disclosed capital expenditures of 229 billion yuan (US$33.7 billion) for 2015, 64.1 billion yuan for 2016 (US$9.42 billion), and 43.8 billion yuan (US$6.43 billion) for 2017. The CAPEX trend clearly has been declining at a rapid pace over the recent years, reflecting the rapid 4G rollouts in China, which have significantly been completed.

The IPO money dedicated to CAPEX (US$4.14 billion) will be a big boost compared to 2018 spending, but nowhere near the banner year of 2015. The big questions will be "is it enough" given China's size and its goal to be a leader in 5G, as well as the ongoing maintenance that is always needed to keep equipment in good order, including moves/adds/changes, dealing with fiber cuts, fixing air conditioners, installing new sensors, testing, security, responding to outages, etc.

China Tower operates macro cell sites, small cells, and DAS installations. As of June 30, 2018, China Tower operated and managed 1,878,739 macro tower sites and 19,400 DAS sites. The overall tenancy ratio was 1.47 and the tenancy ratio of the TSP tenants for ground tower sites in operation was 1.54.

On the positive side, China's 4G rollout specified fibre to the tower in most installations. This implies that the majority of those 1.9 million sites currently in operation should be easily upgradeable for the additional backhaul needed for 5G. If so, a lot of the future CAPEX could go toward network densification, especially small cells.



China Tower is profitable when CAPEX is low



As mobile data usage continues to climb with no end in sight, China Tower will need to keep building. Its existing customers have nowhere else to go, so it is a pretty certain bet that China Tower will keep on expanding. 

As far as delivering a desirable return to investors, the business model comes with one big caveat. The prices that China Tower charges for allowing mobile operators to use its infrastructure is set by the customer/investors themselves. In other words, China Mobile, China Telecom and China Unicom set the common price they are willing to pay to their former infrastructure arms. 
          Equinix now has an 82% utilization rate across its global data centers      Cache   Translate Page   Web Page Cache   
Equinix reported quarterly revenue of $1.262 billion, up 18% year-over-year or up 9% yoy on a normalized and constant currency basis. Net income amounted to $68 million and adjusted EBITDA was $604 million, with a 48% adjusted EBITDA margin.

Peter Van Camp, Executive Chairman and Interim CEO and President, Equinix: “Equinix delivered another strong quarter with record bookings across all three regions and virtually all key operating metrics showing solid momentum in our go-to-market engine and interconnection strategy. Our unique global platform of 200 data centers, and the customer ecosystems within them, remain at the heart of our strategy, as evidenced by strong cross-regional sales and healthy interconnection activity in Q2."

Some highlights for the quarter:

  • Interconnection revenue continued to outpace colocation revenue, reflecting the rapid adoption of hybrid, multicloud as the preferred IT deployment model
  • Cross connects between customers increased to more than 288,000
  • The Equinix Cloud Exchange Fabric platform now serves more than 1,200 customers. 
  • Completed expansions in the Amsterdam, Denver and London metros
  • Achieved a utilization rate of 82% across the platform
  • There is an active pipeline of 32 expansion projects currently underway, including a partnership with Omantel
  • Key customer wins and expansions included China Mobile, Lithia Motors and Tencent
  • Customer deployments across multiple metros increased to 85% of total recurring revenue.


          Musk mulls taking Tesla private, valuing company at $82 billion — Bloomberg      Cache   Translate Page   Web Page Cache&