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Centre rushes 10,000 troops to Kashmir
NEW DELHI: The Centre has ordered rushing of about 10,000 central forces personnel to the Kashmir valley in order to strengthen counter-insurgency operations and law and order duties there, officials said Saturday.
They said the Union home ministry has ordered the deployment of 100 companies of the Central Armed Police Forces (CAPFs) on July 25 on an "immediate" basis.
Officials said that 100 more companies are expected to be sent to the valley.
One CAPF company comprises about 100 personnel.
The latest units will be drawn from the CRPF (50 companies), SSB (30) and ITBP and BSF will contribute 10 each, they said.
The ministry has said that these personnel will be deployed to strengthen the counter-insurgency grid and law and order duties in the Kashmir Valley, they said. They are being air lifted and sent by trains, officials said.
It is understood that the new units will reinforce the strength of the security forces already present in the valley who are conducting the annual Amarnath Yatra and carrying out counter-terrorism operations daily, they added.
The troops will be addition to about 65 regular battalions of the Central Reserve Police Force in the valley and over 20 other battalions of other forces deployed to conduct the yatra that will end on August 15.
One CAPF battalion has about 1,000 personnel.
The new strength of the troops will also help in the conduct of the assembly polls in the state that are expected to be held in some time, they said.
Source: https://economictimes.indiatimes.com/news/defence/centre-rushes-10000-troops-to-kashmir/articleshow/70409455.cms
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India's 2nd-largest job provider is gasping for growth
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
The new government would have to rethink its policy on turning around India’s second-largest job provider, as the textile sector continues to gasp for growth.
Three years after key regulatory and labour changes were put in place, India’s textile and apparel exports have declined from $ 38.60 billion in 2014 to $ 37.12 billion in 2018 while imports have increased from $ 5.85 billion to $ 7.31.
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
Trade troubles
Estimated at $ 16.2 billion in FY19, India’s apparel exports fell by 1.2 per cent from FY18, which in turn was 4 per cent lower than the previous year.
Even the share of apparel exports in the country’s total textile exports has fallen sharply from 51 per cent in FY17 to 45 per cent in FY19.
Even the share of apparel exports in the country’s total textile exports has fallen sharply from 51 per cent in FY17 to 45 per cent in FY19.
Industry experts attribute the fall to the ever tightening pressure on the exports markets by higher shipments from low-cost competitors like Bangladesh and Vietnam.
However, the recent slowdown in global demand has also increased competition in the markets which has coincided with taxation changes in India.
Barring few months, apparel exports are continuously declining since October 2017, mainly due to stiff competition, slowdown and discontinuation of certain export incentives.
Analysts say there was a 6-7 per cent impact on costs, which hurt profitability of garment makers too.
“A substantial drop in the import duty was observed after implementation of the GST which has encouraged cheaper imports.
"For imports from Bangladesh, there is a full exemption of basic customs duty and hence Chinese fabric is easily coming to India duty-free through Bangladesh in the form of garments,” said Sanjay Jain, chairman, Confederation of Indian Textile Industries.
The Central Board of Indirect Taxes and Customs (CBIC) had slashed duty drawback rates on cotton, man-made and blended garments.
“The new drawback rates are effective December 19. The policy support for the industry after GST has significantly declined by around 5.5 per cent,” the Apparel Export Promotion Council (AEPC) informed the finance ministry in a letter.
Jobs rise slowly
And despite the ministry nor industry bodies having requisite data, it is widely accepted that the promised 10 million jobs haven't been created, three years after the imaginatively designed Rs 6,000-crore mega-package for textiles was rolled out.
The bulk of the planned capital outlay, about Rs 5,500 crore, was earmarked for an additional 5 per cent duty drawback for garments, that is, a refund of duties on imported inputs used to make export goods.
The more radical element was the increased government funding for provident funds of new employees.
Those earning less than Rs 15,000 per month would be given additional government funding for the first three years on the job.
Against the earlier 8.33 per cent, the employer’s contribution was raised to 12 per cent with the government providing an additional 3.67 per cent.
The total bill for this was Rs 1,170 crore.
"We are set to create a database of total jobs in the sector, but data collection remains an issue since the majority of the sector remains concentrated in small and micro units,” a senior official at the Handloom Commissioners office said.
But textile is the most labour-intensive industry in the country and almost 65 per cent of total transactions were in physical form pre-demonetisation, he added.
This has also negated the chances of better salaries for workers and better opportunities for women, two prime focus of the government.
Hiring at firms has picked up since September last year but this is yet to make up for the massive demonetisation-induced lay-offs in most sub-sectors, said an AEPC official.
Photograph: Rupak De Chowdhury/Reuters
Source: https://www.rediff.com/business/report/indias-2nd-largest-job-provider-is-gasping-for-growth/20190607.htm
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Dow Jones Futures: Two Big Earnings Movers Late; Lawmakers Hammer Big Tech
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Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-rally-stalls-apple-facebook-united-airlines-csx-active-late/
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Weekly Roundup: October 19-25, 2018
This roundup contains a collection of the posts published on the Forum during the week of October 19-25, 2018.
Posted by Stephen T. Giove, Arielle L. Katzman and Daniel Yao, Shearman & Sterling LLP, on Friday, October 19, 2018
Posted by Claire Jeffwitz and Filip Gregor, Frank Bold, on Saturday, October 20, 2018
Posted by Steve W. Klemash, Les Brorsen, and Charles W. Seets Jr., EY Center for Board Matters, on Sunday, October 21, 2018
Posted by Barbara Becker, Jeffrey Chapman, and Stephen Glover, Gibson, Dunn & Crutcher LLP, on Monday, October 22, 2018
Posted by James J. Park (UCLA), on Monday, October 22, 2018
Posted by Jim Rossman, Lazard, on Monday, October 22, 2018
Posted by Christopher B. Chuff, Pepper Hamilton LLP, on Tuesday, October 23, 2018
Posted by Andy Call (Arizona State University), on Tuesday, October 23, 2018
Posted by Margaret Popper, Sard Verbinnen & Co, on Tuesday, October 23, 2018
Posted by David Felsenthal, Steven Gatti, and Jesse Overall, Clifford Chance US LLP , on Wednesday, October 24, 2018
Posted by Thomas J. Chemmanur (Boston College), Harshit Rajaiya (Boston College), Xuan Tian (Tsinghua University), Qianqian Yu (Lehigh University), on Wednesday, October 24, 2018
Posted by Victor Lewkow, Christopher E. Austin, and Paul M. Tiger, Cleary Gottlieb Steen & Hamilton LLP, on Wednesday, October 24, 2018
Posted by Matteo Tonello, The Conference Board, Inc. and Jason Schloetzer, Georgetown University, on Thursday, October 25, 2018
Posted by Jesse M. Fried (Harvard Law School), on Thursday, October 25, 2018
Posted by Kara M. Stein, U.S. Securities and Exchange Commission, on Thursday, October 25, 2018
Source: https://corpgov.law.harvard.edu/2018/10/26/weekly-roundup-october-19-25-2018/
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Top Stocks Today: Twitter Soars On Earnings; United Technologies Leads Dow Jones
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Sounds Of Music 2018 From Pandora's Music Genome Project
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The National Announce New Album 'I Am Easy To Find' & World Tour
The National announced a brand new album, I Am Easy To Find, on Tuesday (March 5) via a trailer for the project’s companion short film.
Directed by Mike Mills, the short film (also titled I Am Easy To Find) stars Oscar-winning actress Alicia Vikander and will be set to music from the album, though won’t function as a traditional music video for the project. The black-and-white trailer describes the film as “a life in 164 moments,” which will serve as a standalone sibling to the veteran rockers' new LP.
I Am Easy To Find will be the band’s eighth full-length studio album and is a follow-up to their Grammy-winning 2017 LP, Sleep Well Beast, which took home the award for best alternative music album.
In support of the project’s release, The National will also be embarking on a sprawling world tour, which begins this April with five sold-out, intimate dates in major cities around the globe billed as “A Very Special Evening With The National.”
The remainder of the tour will kick off starting June 11 at Philadelphia’s Mann Center. Courtney Barnett and Alvvays will open on select dates.
I Am Easy To Find is set to be released May 17 on 4AD. Check out The National’s short film trailer and full list of tour dates below.
The National on Tour:
4/16 - Paris, FR @ Olympia SOLD OUT
4/18 - London, UK @ Royal Festival Hall SOLD OUT
4/22 - New York, NY @ Beacon Theatre SOLD OUT
4/24 - Toronto, ON @ Roy Thomson Hall SOLD OUT
4/26 - Los Angeles, CA @ Orpheum Theatre SOLD OUT
6/11 - Philadelphia, PA @ Mann Center*
6/12 - Brooklyn, NY @ Prospect Park Bandshell*
6/15 - Manchester, TN @ Bonnaroo
6/16 - Atlanta, GA @ Coca-Cola Roxy*
6/17 - St Augustine, FL @ St Augustine Amphitheatre*
6/19 - Washington, DC @ The Anthem*
6/20 - Portland, ME @ Thompson's Point*
6/21 - Montreal, QC @ Place des Arts
6/22 - Hamilton, ON @ Pier 8**
6/24 - Columbus, OH @ Express Live*
6/25 - Ann Arbor, MI @ Hill Auditorium*
6/26 - Indianapolis, IN @ Lawn at White River*
6/28 - Chicago, IL @ Northerly Island**
7/10 - Manchester, UK @ Castlefield Bowl
7/12 - Madrid, ES @ Mad Cool Festival
7/13 - London, UK @ Hyde Park
7/15 - Frankfurt, DE @ Jahrhunderthalle
7/16 - Hamburg, DE @ Stadtpark
7/18 - Rättvik, SE @ Dalhalla
8/4 - Waterford, IE @ All Together Now
8/6 - Glasgow, UK @ Summer Nights at the Bandstand
8/7 - Glasgow, UK @ Summer Nights at the Bandstand
8/9 - Sicily, IT @ Ypsigrock
8/10 - Budapest, HU @ Sziget Festival
8/11 - Buftea, RO @ Summer Well
8/14 - Paredes de Coura, PT @ Paredes de Coura
8/16 - Hasselt, BE @ Pukkelpop
8/16 -- 8/18 - Biddinghuizen, NL @ Lowlands
8/18 - Hasselt, BE @ Pukkelpop
8/28 - Vancouver, BC @ Deer Lake Park**
8/29 - Seattle, WA @ Marymoor Park**
8/30 - Portland, OR @ Edgefield**
9/1 - Stanford, CA @ Frost Amphitheater**
9/2 - Los Angeles, CA @ Greek Theatre**
9/3 - Phoenix, AZ @ Comerica Theatre**
9/5 - Odgen, UT @ Ogden Amphitheater**
9/8 - Santa Fe, NM @ Santa Fe Opera House**
9/10 - Austin, TX @ 360 Amphitheatre**
9/11 - Houston, TX @ White Oak Music Hall**
11/25 - Warsaw, PL @ Torwar Hall
11/26 - Berlin, DE @ Columbiahalle
11/27 - Berlin, DE @ Columbiahalle
11/29 - Copenhagen, DK @ Royal Arena
12/1 - Bochum, DE @ Ruhrcongress
12/2 - Cologne, DE @ Palladium
12/3 - Zurich, SW @ Samsung Hall
12/4 - Munich, DE @ Zenith
12/5 - Stuttgart, DE @ Porsche Arena
*w/ Courtney Barnett
**w/ Alvvays
Source: https://www.billboard.com/biz/articles/8501161/the-national-announce-new-album-i-am-easy-to-find-world-tour
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Who wants to be a trillionaire? Microsoft
In the TV series Silicon Valley, fictional billionaire Russ Hanneman is obnoxiously proud to be in the “three comma club”. In tech’s real-life soap opera, bragging rights now require a fourth comma.
Amazon this week joined Apple in surpassing $1,000,000,000,000 in market capitalisation, the only companies to do so.
The next in line to join them is ancient compared with most of the tech sector. Founded in 1974, it is 30 years older than Facebook. It might be only two years older than Apple but that understates the gulf in youth appeal.
Microsoft’s efforts at keeping up with the kids are always embarrassing. Take an attempt to lure college students to a recruitment event in 2016. The invitation raided Urban Dictionary to promise: “hella noms, lots of dranks, the best beats and . . . beer pong tables!”
Efforts at propelling its market cap towards $1tn are more serious and successful: today it stands at about $830bn, third in the world behind Apple and Amazon.
That rekindles memories of the dotcom bubble, when Microsoft was the most valuable company in the world, peaking in December 1999 at $619bn, the equivalent of $930bn today.
There are big differences between the two generations of Microsoft, which is reassuring for anyone worrying that we are on the brink of another crash.
Back in 1999, Microsoft was making just $20bn of revenue. The valuation was divorced from reality and investors were merciless after the crash: it took until last year for Microsoft to surpass its 1999 peak. Now, though, it makes $20bn of net profit; revenues are $110bn a year.
In 1999, founder Bill Gates celebrated Windows Media’s ability to stream video via the internet and boasted that the Hotmail email service had 40m members.
Many of these products have withered. Alphabet’s YouTube, Gmail and Chrome have eclipsed Microsoft’s Windows Media, Hotmail and Internet Explorer. It is all the more remarkable, then, that Microsoft holds a slim lead over Alphabet in valuation.
Mr Gates saw new devices coming but he defined it as a “PC Plus” world. When Microsoft tried to catch up in smartphones, it stumbled badly, blowing billions on Nokia’s mobile business. With the PC in retreat and a failure to jump to the next platform, Microsoft lost its monopoly in operating systems.
What it did achieve was a jump to the cloud, which has risen from single-digit percentage to a third of sales in five years. While Apple is dangerously dependent for more than half of its revenues on the iPhone, Microsoft today is highly diverse, from applications to services to consumer hardware like the Xbox.
Unlike the other big cloud players, Microsoft’s business extends from giant corporations to individual consumers using its Office software online. (Although most of the applications from 1999 have been superseded by competitors, nobody has managed to kill Excel.)
A solid $1tn valuation would still require higher profits and faster growth. Otherwise, it would be dependent on price/earnings multiples expanding dangerously — where there are already signs of froth. But a fourth comma is a real prospect and a surprising achievement for the chronically uncool company.
Source: https://www.ft.com/content/d11cd636-b290-11e8-99ca-68cf89602132
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U.S. Job Openings Hit Record, as Quit Rate Reaches 17-Year High
U.S. job openings rose in July to a fresh record and the biggest share of workers since 2001 quit their positions, adding to signs of labor-market strength that may push wages higher, Labor Department data showed Tuesday.
Highlights of Job Openings (July)
Number of positions waiting to be filled increased by 117k to 6.94m (est. 6.68m) from an upwardly revised 6.82m in June, according to Job Openings and Labor Turnover Survey, or JOLTS Hiring little changed at 5.68m; hiring rate unchanged at 3.8% Quits rate rose to 17-year high of 2.4% from 2.3%; 3.58m Americans quit their jobs, up from 3.48m.
Key Takeaways
Job postings exceeded the number of unemployed people by 659,000 in July, the most in data back to 2000. Along with the number of quitters, the gap helps explain why wages rose in August at the fastest pace since 2009, as employers struggle to find qualified workers and Americans become more confident in leaving their jobs for better pay elsewhere amid Republican-backed tax cuts that have boosted the economy.
The rise in the quits rate was driven by private-sector employees, whose share of people voluntarily leaving their jobs rose to 2.7%, also the highest since 2001 and up from 2.4% in February. Federal Reserve Chairman Jerome Powell has highlighted the quits rate as suggesting that the economy is near full employment.
A separate survey from the National Federation of Independent Business showed 38% of U.S. small businesses had openings that they couldn’t fill in August, a record in data back to 1973.
Although it lags the Labor Department’s other jobs data by a month, the JOLTS report adds context to monthly employment figures by measuring dynamics such as resignations, help-wanted ads and the pace of hiring.
Other Details
Layoffs declined to 1.6m from 1.65m; layoffs rate unchanged at 1.1%. There was 0.91 unemployed person per job opening, compared with 1.9 people when the recession began at the end of 2007 Openings increased in manufacturing, leisure and hospitality, and finance and insurance; decreased in retail, educational services, federal government In the 12 months through July, the economy created a net 2.5 million jobs, representing 66.7 million hires and 64.2 million separations
Source: https://www.industryweek.com/talent/us-job-openings-hit-record-quit-rate-reaches-17-year-high
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Sweden is starting to talk about leaving the EU — here's what a 'Swexit' might look like
Sweden goes to the polls on Sunday to elect a new government in a vote that many commentators believe is the most contentious in decades.
The election is likely to see a strong performance from the Sweden Democrats, a right-wing, anti-immigration party with historical associations with the country's neo-Nazi movement.
It is expected to finish among the top three parties, and could find itself with some representation in the country's government.
Like many anti-immigration parties in Europe, the Sweden Democrats are highly Eurosceptic, with its leader Jimmie Åkesson frequently arguing that the country should hold a referendum on whether it should remain or leave in the European Union.
While a referendum is probably a long way off, it is now not impossible that Sweden could hold a vote for a so-called Swexit from the EU.
"Although the option of leaving the European Union (EU) does not hold majority support amongst the Swedish population," a report from Oxford Economics this week said, "the topic has garnered increasing attention since the Sweden Democrats announced their intention to hold a referendum on membership after the 2018 general election."
But what would Sweden, the EU's seventh-largest economy, leaving the EU actually mean economically?
Stockholm, Sweden.
chas B / Flickr Creative Commons
Like the UK, Sweden is somewhat peripheral to the EU. It is not part of the continental mainland, and is not part of the euro. Nevertheless, it would be a major event for both the nation and the EU as a whole.
Oxford Economics' report made clear that the possible outcomes surrounding Swexit are hugely unclear, but based its assumptions on Sweden voting to leave, before ultimately pursuing a most-favoured-nation relationship with the EU while trading on World Trade Organisation rules.
It also assumes Sweden triggering Article 50 — the mechanism for leaving the EU — in 2019, leading to a leaving date of 2021.
Slower growth, lowered migration, higher unemployment
The long and the short of Oxford's forecasts, which are based on a ten-year span to 2031, is that things would not be good for the Nordic nation.
"In the Swexit scenario Sweden's real GDP declines by 4.0% in real terms compared to our baseline forecast in which Sweden remains a member of the EU," the report, compiled by Henry Worthington, said.
Not only would Swexit lead to slower GDP growth going forward, it would also lead to lowered migration, the report said. That, in line with weak growth, would see unemployment increase significantly, the report said.
"In our baseline forecast employment is projected to grow at 0.16% per year during the scenario horizon, a rate which drops to virtually zero in the Swexit scenario," Oxford Economics wrote.
"As a result, the Swedish economy supports 73,000 fewer jobs in 2031 compared to baseline a decline of 1.4 percent."
Household finances would also suffer, losing a cumulative 30,300 krona on average in the 10 years after Swexit, equivalent to around $3,300.
Roman Sigaev/ Shutterstock
The positives
There would also be positives, however, thanks to the fact that after leaving the EU "Sweden would no longer have to contribute to the EU budget, freeing up fiscal resources to finance investment in public services or tax cuts."
Here's the key extract:
"As a relatively high-income member, Sweden has consistently been a net contributor to the EU budget, a pattern can be expected to continue going forward. In total, we forecast that Sweden's net contribution during the scenario horizon would total €51.3 billion.
"Despite an assumed 'divorce bill' of €24.3 billion this still yields a fiscal dividend of €27.0 billion equivalent to 0.4 percent of GDP over the scenario horizon."
Source: https://www.businessinsider.com/swexit-what-happens-if-sweden-leaves-eu-2018-9&%3Butm_medium=referral&IR=T
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Zion Williamson's Marketability Takes A Big Hit If He Lands With The Pelicans
The type of market a player lands in directly affects their ability to push product. No matter how fun the city might be, Zion Williamson landing in New Orleans isn't the outcome sneaker companies looking to sign the future NBA star to an endorsement deal are hoping for.
Luck Of The Draw
The NBA Draft lottery took place May 14. With the worst record in the league last season, many assumed the New York Knicks would land the No. 1 overall pick in the upcoming draft, Luck bounced down Bourbon Street instead, and the New Orleans Pelicans will have the No. 1 pick, while the Knicks pick No. 3.
Williamson going to the Pelicans could severely hurt his marketability.
“The ideal team in terms of the highest value would have been the Knicks. NYC is the epicenter of basketball sneaker culture. Some years ago we did a study that saw 25 percent of Nike basketball shoes were sold in NYC,” NPD Group's Matt Powell told Benzinga.
Regardless of talent level, signature athletes generally see their merchandise sales rise when they go to New York. “When Carmelo Anthony went from the Nuggets to the Knicks, his shoe sales got better,” Powell said.
No doubt Williamson will garner national interest, but it's the local interest that has the big payoff, added Powell.
Who Will Sign Zion?
Powell argues he believes a Chinese shoe company will sign Williamson. Li-Ning, Anta and Peak are all possible contenders in the bid to sign the most hyped NBA endorser since LeBron James.
“At the current trajectory, the Chinese basketball market is going to be larger than the U.S. market. The Chinese brands are all being very aggressive to try to get share back that they have lost to Nike Inc (NYSE: NKE) and Adidas AG (ADR) (OTC: ADDYY). To me it makes more sense for a Chinese brand to step up here,” Powell said.
“Whatever it is, it is going to be stupid money. There is no way to justify the contract by merchandise sales; whoever signs him will do so at a loss. At the end of the day they are competing against each other instead of trying to turn on merchandise.”
All in all, Powell says there are far more instances where big time athletes endorsement contracts haven't worked out then when they have.
“He could sell a lot of shoes, or he could be a Kevin Durant -- a great player that barely sells anything. He could be a Dame Lillard and [be] stuck in a tiny market. Lillard shoe sales are tiny,” he said.
Related Links:
What Broken Shoe? Nike Shares Rally, Brand Named Most Valuable After Zion Williamson Incident
Nike's 'Tanjun' Was The Bestselling Shoe Of 2018; Mid-Market Footwear Dominates Top 10
Photo credit: Keenan Hairston, Flickr
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Source: https://www.benzinga.com/news/19/05/13759612/zion-williamsons-marketability-takes-a-big-hit-if-he-lands-with-the-pelicans
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Stock Market Rallies On China Tariff News; Netflix Holds Tight Ahead Of Results
Stock market bulls were perfectly content with a quiet day of trading Thursday as major stock indexes bobbed and weaved around the break-even mark. But the bulls were in an even better mood after the Wall Street Journal reported that the U.S. is considering lifting China tariffs to speed up a trade deal. In stock market news today, Netflix (NFLX) held firm ahead of its earnings report after the close. After a powerful move off lows, it's been trading tightly above the 350 level in recent days.
X
The Nasdaq composite, S&P 500 and Dow Jones industrial average jumped 1% initially on the news but then cut those gains to around 0.5%. (For updates on this story and other market coverage, visit the Stock Market Today page.)
The S&P 500 and Nasdaq showed stalling action Wednesday, giving back early gains and ending near lows in higher volume. It was a subtle form of distribution but not enough to derail a new market uptrend. Distribution, or institutional selling, has been well-contained since the S&P 500 confirmed a new uptrend on Jan. 4.
After Wednesday's stalling session, it wouldn't have been surprising to see some continued selling Thursday. There was some selling early Thursday, but it didn't take long for buyers to take charge.
In other stock market news, solid gainers in the Dow Jones included DowDuPont (DWDP), Merck (MRK) and Nike (NKE). Nasdaq 100 winners included Fastenal (FAST), which was up nearly 5% on strong earnings. Biotech Regeneron (REGN) also outperformed with its 3% gain. It's trying to clear a bottoming base with a 416.59 entry.
In the stock market today, small-cap Attunity (ATTU) blasted out of a base with a 23.95 buy point. Shares jumped more than 6% to 24.90. The small cap was featured in Wednesday's Stock Spotlight column.
Horizon Pharma (HZNP), a member of the MarketSmith Growth 250, is near the top of a cup-shaped base with a 23.48 entry. Shares were up nearly 2% to 22.31.
Security software firm Okta (OKTA) soared to a new high, rising nearly 6% to 77.13. It's just above a conventional entry of 75.59.
Inside the IBD 50, Lululemon (LULU) was on pace for its 12th gain in 13 sessions as it works on the right side of a base. Shares gapped up Monday after the company gave bullish guidance thanks to strong holiday sales.
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Source: https://www.investors.com/market-trend/stock-market-today/stock-market-china-tariffs-netflix-earnings/
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Philippine Airlines: What it's like to fly in business class on new ... - Business Insider
Philippine Airlines employs more than 8,200 people across its routes.Philippine Airlines
Flying with a new airline can be scary if you don't know what to expect — particularly if you're shelling out on tickets.
However, it's worth a shot if it means flying direct to a location that would otherwise be a challenge to reach.
From September 15, Philippine Airlines will introduce its new Airbus A350 on its routes from London Heathrow and New York JFK to and from Manila, Philippines.
Ahead of the launch, we spoke to the airline to find out what passengers can expect from Business Class — as well as Premium Economy and Economy — on the new aircraft.
Scroll down for a look at what it's like to fly with Philippine Airlines, from beginning to end.
Source: https://www.businessinsider.de/philippine-airlines-business-class-airbus-a350-2018-8?r=US&IR=T
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Links 6/18/19
The League of Entropy Forms To Offer Acts of Public Randomness Duo
Dogs’ eyes evolve to appeal to humans BBC
Cheddar To The Rescue? UK Company Uses Cheese To Power 4,000 Homes OilPrice
Robocalls Are Overwhelming Hospitals and Patients, Threatening a New Kind of Health Crisis Washington Post
China?
Huawei Says US Ban Hurting More Than Expected, To Wipe $30 Billion Off Revenue Reuters
U.S. chipmakers quietly lobby to ease Huawei ban: sources Reuters (resilc)
The U.S. Is Purging Chinese Cancer Researchers From Top Institutions Bloomberg (Chuck L)
Free speech under fire in India Asia Times
Uncertainty over output gap and structural-balance estimates remains elevated Bruegel. More important for the EU than the geeky headline suggests.
From coup leaders to con artistry: Juan Guaidó’s gang exposed for massive humanitarian aid fraud Grayzone Project (Chuck L)
Brexit
From Politico’s morning newsletter:
BRUSSELS TO BOJO: YOU’ll CHANGE YOUR TUNE. Seven EU diplomats and officials who spoke to POLITICO offered a sanguine assessment of a Boris Johnson U.K. prime ministership. Johnson will turn out to be more pragmatic than his rhetoric suggests, they reckon. “Once in office he’ll change,” said one EU diplomat. “It’s very different when you have a country in your hands.”
Labour chaos over Brexit deepens as Tom Watson calls for special party conference Telegraph
New Cold War
Russia Expert’s 2017 Prophecy About The Nuclear Threat Of Russiagate Is Coming True Caitlin Johnstone (UserFriendly)
Bookstore politics Irrusianality (Chuck L)
Erdogan sees Russian S-400s delivery starting in July: NTV Al Jazeera (resilc)
Syraqistan
Gulf of Oman: US sends more troops amid tanker tension with Iran BBC
Officials Worldwide Are Skeptical of Claim that Iran Attacked Tankers In Gulf of Oman George Washington
EU warns against blaming Iran for oil tanker attacks DW
Iran To Exceed Some Nuclear Deal Limits Moon of Alabama (Chuck L)
Averting a Disastrous War with Iran American Conservative. Resilc: “Disastrous war is what USA USA does best.”
Accidental cat filter appears on Pakistan official’s briefing Guardian (Bill B)
Solidarity With Glenn Greenwald Jacobin
Big Brother is Watching You Watch
John Pilger: Extradition Process a ‘Very Long Uphill Road’ for Assange Real News
Trump Transition
As promised, Trump slashes aid to Central America over migrants Reuters
Trump: Obama ‘had to know’ of ‘setup’ to block presidential bid The Hill
Trump’s order to trim science advisory panels sparks outrage The Hill
It’s A Horrible Idea To Privatize The Tennessee Valley Authority And Other Public Energy Assets Forbes (UserFriendly)
Navy Contaminates Local Groundwater and Sewer System in Maryland Truthout
Health Care
The U.S. Leads the World in Health-Care Spending Atlantic. UserFriendly: “ROFL you don’t really want m4a.”
2020
Can Elizabeth Warren Win It All? New Yorker
Elizabeth Warren
• Says we need to "stand up to Assad"
• Supports the Venezuelan opposition
• Voted for and supports sanctions on Iran
• Voted to increase Trump's military budget
• Says we need to "hold Assange accountable"
• Says supporting Israel is a "moral imperative"
— Rob (@philosophrob) June 16, 2019
On Being Serious Current Affairs (UserFriendly)
What does Joe Biden mean when he calls for a “physical revolution”
— Senator John Cornyn (@JohnCornyn) June 17, 2019
As US-Iran tensions increase, Tulsi Gabbard calls her 2020 candidacy a ‘threat to the foreign policy lies sold to the American people’ Independent (resilc)
First Amendment Constraints Don’t Apply To Private Platforms, Supreme Court Affirms The Verge
Oberlin College case shows how universities are losing their way The Hill
Fake News
Adobe’s Experimental AI Tool Can Tell If Something’s Been Photoshopped The Inquirer
YouTube is Too Big To Fix Completely, Google CEO Says CNBC
Tech Companies Need To Take Responsibility For the ‘Chaos’ They Create, Tim Cook Says The Hill
Airbus Wins 100-Plane Order From Air Lease at Paris Air Show Bloomberg (resilc)
Class Warfare
The One Percent Have Gotten $21 Trillion Richer Since 1989. The Bottom 50% Have Gotten Poorer.https://t.co/64KOUjJIiR
— Gabriel Zucman (@gabriel_zucman) June 17, 2019
Amazon slams AOC for saying it pays ‘starvation wages’ New York Post
Antidote du jour. MGL: “As seen at La Serre aux Papillons at Parc Floral in Orléans, France. Sorry, can’t tell you what type of papillon; only that it’s lovely.”
and a bonus (guurst):
In otter news: This cute fella likes milk and needs a new home! pic.twitter.com/VUwfrlmwSi
— RT (@RT_com) April 14, 2019
See yesterday’s Links and Antidote du Jour here.
This entry was posted in Links on June 18, 2019 by Yves Smith.
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Source: https://www.nakedcapitalism.com/2019/06/links-6-18-19.html
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How I’m Finally Overcoming My Biggest Budget Problem (Spoiler: It’s Not Overspending)
I decided to get my financial shit together a little later than I probably should have. And, once I actually started making an effort to be more budget-conscious, I was surprised to find that the most difficult part wasn’t spending less money. It was dealing with the crushing sense of shame I felt whenever I failed.
I’m generally a pretty frugal person, probably because both of my parents are the same way. I figured for a long time that, because of this, I didn’t need to really track my spending. Then, I got a raise and my own apartment after splitting costs with a roommate for five years. When I started living on my own, most of my costs of living essentially doubled. I had started my emergency fund (thanks, TFD!) a few months before moving out, but it was nowhere near where I needed it to be. I decided to really commit to budgeting. I made myself a spreadsheet, set reasonable goals, tried to stick to it for two weeks, and then immediately abandoned the project.
I did this five months in a row.
I tallied my expenses on Sunday nights for the previous week so I wouldn’t be overwhelmed at the end of every month. Most categories were easy to track — I don’t spend much on shopping or entertainment, and I can usually talk myself out of ordering takeout when I need to. My real budget Kryptonite was groceries.
This was shocking to me. I’m not an adventurous eater, and I wasn’t taking home more than one of my reusable bags’ worth of groceries from each trip. Then I realized the problem: I live directly behind a grocery store. It’s about a two-minute walk from my front door, which makes it very easy to just pop out meaning to pick up one necessity (toilet paper, butter, maybe a carton of eggs) and come back with the necessity plus a bottle of wine, a frozen pizza, a tub of ice cream, and a bottle of nail polish I just had to have. This ended up happening multiple times a week.
When calculating my expenses, I would look at all the transactions in my bank account, see the sheer number of transactions at my grocery store, and immediately close the browser window and my spreadsheet. I was so ashamed of myself for a) spending all the money, b) wasting food, and c) not finishing this project I felt was crucial to my success as an adult living on my own. I felt like I was failing, not only at budgeting but also at trying in the first place. I knew I could get my spending under control if I tried, but I wasn’t really trying. I thought I could skate by on being cheap. The spending wasn’t the problem — it was my unwillingness to make an effort and hold myself accountable. I had the same problem in school: I made decent grades but rarely pushed myself to do the best I could. I hated that aspect of myself, and I hated seeing it reflected in this half-finished spreadsheet every month. But instead of seeing this as an opportunity for self-improvement, I would usually just pour myself a glass of wine and watch Bob’s Burgers until I forgot I was sad.
Each month, I would re-open the spreadsheet and change the name of the month on the tab at the bottom, convinced that I had magically developed the work ethic and mental toughness to finish it. I hadn’t, of course. The shame kept piling up.
At the end of last month, I got an unpleasant surprise when I checked in on my bank accounts. My balance was much lower than it normally was — so low that I had to put my biweekly auto-transfer to my savings account on hold for a couple of weeks. It was scary. I don’t have a complete emergency fund yet — a couple of months’ worth of expenses at best, and I don’t want to ever have to tap into that because I was just so wildly irresponsible at Kroger, of all places. So I had The Talk with myself. I opened my spreadsheet, changed the name of the month again, and told myself I would see it through.
So far, I have. I really think I’m going to make it this time. I’m learning to be both easier and tougher on myself. I’ve definitely slipped up this month and spent more than I should have. I’ve wasted some of my produce (the bell peppers are just so pretty — I can’t walk by them without picking one up), but I don’t beat myself up over these missteps. But every single cringe-worthy mistake goes on the spreadsheet. My shame over failing won’t motivate me to be better with money, but a clear map of previous mistakes will help me make fewer similar ones in the future.
Right now, my budget isn’t really about perfect spending habits or massively reducing my spending. It’s about understanding why I make the choices I make; you can’t solve a problem without knowing what caused it in the first place. I’m hoping that confronting my issues like this will have ripple effects in other parts of my life — maybe I’ll magically start going to the gym more and become the HBIC in my office — but for right now, I just want to finish this freakin’ spreadsheet.
Anna is a data analyst and aspiring writer living in the Midwest. She loves Harry Potter, Kurt Vonnegut, and Twitter, in that order.
Image via Unsplash
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Source: https://thefinancialdiet.com/how-im-finally-overcoming-my-biggest-budget-problem-spoiler-its-not-overspending/
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Deutsche Hospitality plans rapid expansion across Middle East
German luxury brand Deutsche Hospitality has announced robust expansion plans across the Middle East— around 250 properties are expected to be open by 2024 worldwide. The UAE, Oman and Saudi Arabia will form a major part of the hospitality group ‘s thriving global network.
Currently, Deutsche Hospitality is gearing up to open its lifestyle brand – Jaz in the City in Dubai. Located in Dubai’s Old Quarter, the hotel is set to launch in 2022. The 253-key hotel will offer a wide range of F&B outlets in addition to three meeting venues and recreational amenities.
Commenting on this development, Thomas Willms, Chief Executive Officer said, “Jaz in the City really comes into its own in places where a unique local cultural scene meets an international audience seeking a particular lifestyle and an inimitable experience.
“We have found just such a venue in the historic centre of Dubai in the United Arab Emirates. The Jaz in the City Dubai will be a lifestyle oasis for locals and travellers alike.”
Egypt is also on the brand’s radar with the launch of three new properties in the region this year. “Steigenberger has developed into one of the major hotel brands operating in Egypt over recent decades,” “We are confident that we can achieve more growth in this market and will be extending our presence on an ongoing basis,” expresses Willms.
At present, Deutsche Hospitality runs two Steigenberger and five IntercityHotel hotels in the Middle East.
deutschehospitality.com
Source: https://www.businesstraveller.com/business-travel/2019/05/02/deutsche-hospitality-plans-rapid-expansion-across-middle-east/
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The US military wants to hunt enemy subs with genetically-engineered sea life
The Nimitz-class aircraft carrier USS Carl Vinson (CVN 70), the Ticonderoga-class guided-missile cruiser USS Bunker Hill (CG 52), and the Arleigh Burke-class guided-missile destroyer USS Halsey (DDG 97) transit in formation with Indian navy ships during Exercise Malabar 2012.U.S. Navy photo by Mass Communication Specialist 2nd Class James R. Evans/Released
In age of great power competition in which adversarial powers are closing the gap in the undersea battlespace, the US military is looking to abundant ocean organisms for enhanced defense.
Researchers are looking at the potential military applications of genetically-modified sea creatures.
By modifying the genes of common ocean organisms to trigger a reaction when they come in contact with unnatural substances left behind by submarines, the US military may be able to use marine life to detect and track enemy subs.
The US military is supporting research focused on genetically-engineering marine life for the purpose of tracking enemy submarines.
Research supported by the Naval Research Laboratory indicates that the genetic makeup of a relatively common sea organism could be modified to react in a detectable way to certain non-natural substances, such as metal or fuel, left behind by passing submarines, Defense One reports.
If the reaction involves the loss of an electron, "you can create an electrical signal when the bacteria encounters some molecule in their environment," Sarah Glaven, an NRL researcher, said at a November event hosted by the John Hopkins University Applied Physics Lab, reportedly noting that the aim is to use this biotechnology to detect and track submarines.
"The reason we think we can accomplish this is because we have this vast database of info we’ve collected from growing these natural systems," she further articulated. "So after experiments where we look at switching gene potential, gene expression, regulatory networks, we are finding these sensors."
She said that hard evidence that this sort of biotechnology breakthrough is possible and capable of being used to serve the military is about a year away.
Earlier this year, the Defense Advanced Research Projects Agency (DARPA), the research and development arm of the Pentagon, revealed a desire to harness marine organisms for the monitoring of strategic waterways.
"The US Navy’s current approach to detecting and monitoring underwater vehicles is hardware-centric and resource intensive. As a result, the capability is mostly used at the tactical level to protect high-value assets like aircraft carriers, and less so at the broader strategic level," Lori Adornato, manager for the Persistent Aquatic Living Sensors (PALS) program, said in a statement.
"If we can tap into the innate sensing capabilities of living organisms that are ubiquitous in the oceans, we can extend our ability to track adversary activity and do so discreetly, on a persistent basis, and with enough precision to characterize the size and type of adversary vehicles."
As is, there is already a $45 million tri-service effort among Army, Navy, and Air Force researchers to use synthetic biology to advance US defense capabilities. "Our team is looking at ways we can reprogram cells that already exist in the environment to create environmentally friendly platforms for generating molecules and materials beneficial for defense needs," Dr. Claretta Sullivan, a research scientist at the Air Force Research Laboratory’s Materials and Manufacturing Directorate, explained in a statement.
There are apparently similar programs going on across the branches looking at everything from undewater sensing to living camouflage.
The US is once again in an age of great power competition, according to the 2018 National Defense Strategy. It faces new threats from adversarial powers like China and Russia beneath the waves. "In the undersea domain, the margins to victory are razor thin," Adm. James G. Foggo III, the commander of US Naval Forces Europe-Africa, told Pentagon reporters in October.
Source: https://www.businessinsider.de/us-military-wants-to-hunt-subs-with-genetically-engineered-sea-life-2018-12?r=US&IR=T
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