Major International Business Headlines Brief::: 02 September 2020

[Bulls n Bears]

 <http://www.bulls.co.zw/> Bulls.co.zw        <mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments        <http://www.bulls.co.zw/blog> Bullish Thoughts        <http://www.twitter.com/BullsBears2010> Twitter         <https://www.facebook.com/BullsBearsZimbabwe> Facebook           <http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn          <https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp         <mailto:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief::: 02 September 2020

 


 

 


 <mailto:info at bulls.co.zw> 

 


 

 


 

 

ü  Is Elon Musk over-hyping his brain-hacking Neuralink tech?

ü  Australia in first recession for nearly 30 years

ü  Apps for children must offer privacy by default

ü  Ann Summers threatens landlords over shop rents

ü  Rival powers jockey for the lead in hypersonic aircraft

ü  The search engine boss who wants to help us all plant trees

ü  Inverted Energy launches range of lithium-ion batteries

ü  Caribbean telecom sector revenue affected by COVID-19

ü  ‘We’re getting paid to produce Bitcoins’ reveals Texas BTC miner

ü  Ethereum Is Eating Bitcoin

ü  Canada to purchase 76 million doses of Novavax coronavirus vaccine, company says

ü  Walmart Reveals Paid Loyalty Program

ü  American, Delta And Alaska Airlines All Slashing Change Fees

ü  Oil Price Fundamental Daily Forecast – Speculative Buyers Reacting to Weaker Dollar

ü  McDonald’s Faces $1 Billion Discrimination Lawsuit From Dozens Of Black Ex-Franchise Owners

 


 <mailto:info at bulls.co.zw> 

 


 

Is Elon Musk over-hyping his brain-hacking Neuralink tech?

He is the most charismatic figure in technology with some amazing achievements to his name, from making electric cars desirable to developing rockets that can return to earth and be reused.

 

But dare to suggest that anything Elon Musk does is not groundbreaking or visionary and you can expect a backlash from the great man and his army of passionate fans.

That is what happened when a British academic criticised Musk's demo on Friday of his Neuralink project - and the retaliation he faced was largely my fault.

 

Neuralink is a hugely ambitious plan to link the human brain to a computer. It might eventually allow people with conditions such as Parkinson's disease to control their physical movements or manipulate machines via the power of thought.

 

There are plenty of scientists already at work in this field. But Musk has far greater ambitions than most, talking of developing "superhuman cognition" - enhancing the human brain in part to combat the threat he sees from artificial intelligence.

 

Friday night's demo involved a pig called Gertrude fitted with what the tech tycoon described as a "Fitbit in your skull". A tiny device recorded the animal's neural activity and sent it wirelessly to a screen.

 

A series of beeps happened every time her snout was touched, indicating activity in the part of her brain seeking out food. "I think this is incredibly profound", commented Musk.

 

Some neuroscience experts were not quite as impressed.

 

 

The UK's Science Media Centre, which does a good job of trying to make complex scientific stories accessible, put out a press release quoting Prof Andrew Jackson, professor of neural interfaces at Newcastle University.

"I don't think there was anything revolutionary in the presentation," he said.

"But they are working through the engineering challenges of placing multiple electrodes into the brain.

"In terms of their technology, 1,024 channels is not that impressive these days, but the electronics to relay them wirelessly is state-of-the-art, and the robotic implantation is nice.

 

"The biggest challenge is what you do with all this brain data. The demonstrations were actually quite underwhelming in this regard, and didn't show anything that hasn't been done before."

He went on to question why Neuralink's work was not being published in peer-reviewed papers.

I took his words and his summary of the demo - "this is solid engineering but mediocre neuroscience" - and posted a tweet.

 

Within hours Musk tweeted this reply: "It is unfortunately common for many in academia to overweight the value of ideas and underweight bringing them to fruition. For example, the idea of going to the moon is trivial, but going to the moon is hard."

 

Many of his 38 million followers appeared to agree, some rather forcefully.

 

"Academia's full of people who think they're the smartest guy in the room at any given moment, but are in fact kinda dumb," wrote one.

Another said: "If we waited for peer reviews for the Tesla we would still be waiting for the product. Make it and they will come."

And a tired cliche about teachers was also rolled out.

"That is the difference between an academic (those who can, do, and those that can't, teach) and an industrial visionary that gets things done."

 

Brain enhancing

This morning, I contacted Prof Jackson to apologise for provoking this Twitter pile-on.

He laughed and said he was not very active on social media. In any case, he added, Musk had said worse things about other people.

 

Far from being stuck in an ivory tower, Prof Jackson is involved in practical research. He has explored helping spinal injury patients by relaying signals from their brains to their spinal cords to restore some arm movements.

He makes no great claim to be at the forefront of human computer-interface research but knows the field well, and can point to academics who have made significant advances without receiving the publicity that Musk enjoys.

He stressed that he had not intended to appear negative.

 

"Everyone who's been working in this field for a while is excited by the possibilities that come when you get big tech companies and enthusiastic supporters trying to put money behind this," he said.

But while he was impressed by Neuralink's technology, he said he was sceptical about the talk of using it to read and write memories and otherwise enhance brain functions.

 

He explained that, while neuroscientists have made progress in understanding how the brain controls movement, how it processes thoughts and memories is still a mystery.

 

Neuralink: Elon Musk unveils pig with chip in its brain

Elon Musk reveals brain-hacking plans

Elon Musk creates Neuralink brain electrode firm

For all his achievements, Musk has a tendency to exaggerate how quickly his technology will advance.

Four years ago, he told me that within a couple of years, a Tesla would be able to drive itself solo across the US, stopping to recharge itself along the way. That has yet to happen.

 

And his prediction that Tesla would have one million robotaxis on the roads by this year now seems fanciful.

It was only this weekend that the firm's cars received a software update to their Autopilot system to recognise speed-limit signs, something you might have thought essential for safe autonomous driving.

The whole point of tech visionaries is that they think big.

 

But without the academics of whom he has been critical, Musk's dream of enhancing the human brain with a digital interface is unlikely to be realised.

 

And here's the irony - the stated aim of the demo with Gertrude the pig was to encourage scientists to come and join Neuralink. Those following him on Twitter may not be convinced it is worth coming along for the ride.--bbc

 

 

 

Australia in first recession for nearly 30 years

Australia's economy has plunged into its first recession in nearly 30 years, as it suffers the economic fallout from the coronavirus.

 

Gross domestic product (GDP) shrunk 7% in the April-to-June quarter compared to the previous three months.

 

This is the biggest fall since records began back in 1959 and comes after a fall of 0.3% in the first quarter.

 

An economy is considered to be in recession if it sees two consecutive quarters of negative growth.

 

Australia was the only major economy to avoid a recession during the 2008 global financial crisis - mainly due to demand from China for its natural resources.

 

At the start of this year, the economy was hit by falling economic growth due to an extreme bush fire season and the early stages of the coronavirus outbreak.

 

More recently the shutdowns of businesses across the country have taken their toll, despite measures by the government and central bank to support the economy.

 

This is the worst economic growth in 61 years due to a severe contraction in household spending on goods and services.

 

Australia set for first recession in three decades

The huge economic cost of Australia's bushfires

How reliant is Australia on China?

Resilient economy

Australia last fell into recession in mid-1990 which ran into late 1991.

 

But the coronavirus pandemic has been a major blow to the Australian economy, although the figure is slightly better than the 8% fall Australia's reserve bank had earlier forecast.

 

Despite the severe drop in economic activity, Australia is doing better than most other advanced economies that have experienced bigger downturns.

 

The US economy, the world's biggest, shrank 9.5% between April and June while the UK's shrank by 20.4% pushing it into recession as well.

 

France's economy fell by 13.8% and Japan's by 7.6%.--BBC

 

 

 

Apps for children must offer privacy by default

Apps, social media platforms and online games that are specifically targeted at children will now have to put privacy at the heart of their design.

 

A code of practice outlining how children's data should be protected has come into force and firms have 12 months to comply with the new rules.

 

If they do not, they could face huge fines imposed by the Information Commissioner's Office.

 

Some questioned whether the code would bring about real change.

Information commissioner Elizabeth Denham said it was an important step towards protecting children online.

"A generation from now we will all be astonished that there was ever a time when there wasn't specific regulation to protect kids online. It will be as normal as putting on a seatbelt.

 

"This code makes clear that kids are not like adults online, and their data needs greater protections."

She said the Information Commissioner's Office (ICO) recognised that it could be difficult for smaller businesses to comply with the code and would offer "help and support" over the coming year.

 

Among the tenets of the code are:

·         the best interests of the child should be a primary consideration when designing and developing online services

·         high levels of privacy must be set by default

·         only a minimum amount of personal data should be collected and retained

·         children's data should not be shared unless there is a compelling reason to do so

·         children's personal data should not be used in ways that could be detrimental to their wellbeing

·         geo-location should be switched off by default

·         Others who must conform to the code include educational websites, streaming services that use, analyse and profile children's data and the makers of connected toys.

 

'Well-intentioned'

The ICO has the power to fine firms up to 4% of their global turnover if they breach data protection guidelines. The organisation has previously said it will take more severe action when it sees harm to children.

In September last year, YouTube was fined $170m (£139m) for collecting data on children under 13 without the consent of their parents, following a US investigation by the Federal Trade Commission.

 

The scope of protections needed for children online was huge and the ICO might not be up to the job, said one digital rights campaigner, Jen Persson.

 

"The code is well-intentioned, and if enforced, may bring about some more focused change in the approach of some apps and platforms to stop collecting excessive data from children for example, and start to meet the requirements of core data protection law in place for over 20 years.

 

"The key risks are that since the ICO has not enforced to date on behalf of children in its current remit of concrete data protection law, that it may be seen as not having the capability to enforce those new things in the code that go beyond that and are subjective, such as the best interests of the child, or that outstrip the ICO technical knowledge and capacity."

 

Andy Burrows, head of child safety online policy at the NSPCC, said he hoped the code would force a rethink on the content provided to children.

 

"Tech firms have a year to prepare for this transformative code that will force them to take online harms seriously, so there can be no more excuses for putting children at risk.

 

"For the first time, high-risk social networks will have a legal duty to assess their sites for sexual abuse risks and no longer serve up harmful self-harm and suicide content to children." --BBC

 

 

 

 

Ann Summers threatens landlords over shop rents

Retailer Ann Summers has warned its stores' landlords they must take "a more pragmatic approach" to negotiations over rents.

 

The lingerie and sex toy chain said if this did not happen, it would ask to restructure its rent costs through a Company Voluntary Arrangement (CVA).

 

It fears sales could be slow to recover amid the pandemic, making it hard to pay rents and business rates.

 

Boss Jacqueline Gold said landlords needed to recognise things had changed.

 

"Ultimately no retailer can afford to run stores unprofitably, and with business rates set to return next spring, the challenge of property costs is going to become even more pressing than ever," she said.

 

Writing in Retail Week, Ms Gold said the threat of a CVA - a type of deal that enables retailers to shut unprofitable stores and reduce their rents on others - was "no idle threat".

 

Ms Gold said it was the only way to renegotiate leases on her 90 High Street shops if landlords did not compromise.

 

She said many landlords had been open to renegotiating rental costs, but that others continued "to bury their heads in the sand".

 

"I'm grateful to those landlords who have engaged in constructive discussions with us, and should we carry out a CVA, they will definitely not be compromised. To those who haven't yet, there is still time to come to the table," she wrote.

 

"It's a shame we have to threaten a CVA in order to do this, but this is no idle threat."

 

Ann Summers benefited from a boom in online orders during lockdown. As a result, the firm says it expects this year's results to show significant improvement from last year, when it posted a £16m loss. But its UK and Irish stores were forced to close temporarily.

 

Warnings of 'ghost towns' if offices stay empty

One in four BHS stores remain vacant four years on

How Ann Summers became respectable

Many retailers are concerned that store sales will be slow to recover, given the continuing impact of the pandemic, making it hard to pay rents and business rates.

 

Increasing numbers also considering CVAs, since running bricks-and-mortar outlets profitably is difficult because of lower footfall.

 

"All of us retailers acknowledge that the way customers shop isn't going to just go back to how it was before the pandemic," Ms Gold wrote.

 

"That's why we, like many retailers, think turnover-based rents are the way forward."

 

If the CVA goes ahead, it could lead to the closure of some stores, adding to the thousands of retail jobs lost in the wake of the pandemic.

 

Ms Gold said the chain could not afford to operate physical stores that were not profitable and said the challenge of property costs would be "more pressing than ever" when business rates were levied again next April.

 

However, Ms Gold said she was optimistic about the future, after reforms within the company and changes to product quality and price positioning.

 

She described 2019 as "the toughest year" in the company's history, leading to a £16m loss last year.

 

"My family has ploughed large sums of money into the business to help us address the issues which held us back last year and get Ann Summers back on an even footing, with plans to invest further," Ms Gold wrote.

 

"But there is no point doing that just to subsidise those landlords who continue to cling on to outdated terms."---BBC

 

 

 

 

Rival powers jockey for the lead in hypersonic aircraft

"I've spent my career on things flying fast," says Adam Dissel, who heads up the US operations of Reaction Engines.

 

This British company is building engines that can operate at dizzying speeds, under conditions that would melt existing jet engines.

 

The firm wants to reach hypersonic velocity, beyond five times the speed of sound, around 4,000mph (6,400km/h) or Mach 5.

 

The idea is to build a high-speed passenger transport by the 2030s. "It doesn't have to go at Mach 5. It can be Mach 4.5 which is easier physics," says Mr Dissel.

 

At those kinds of speeds you could fly from London to Sydney in four hours or Los Angeles to Tokyo in two hours.

 

However, most research into hypersonic flight is not for civil aviation. It originates from the military, where there's been a burst of activity in recent years.

 

'Zoo of systems'

James Acton is a UK physicist who works for the Carnegie Endowment for International Peace in Washington. Surveying the efforts of the US, China and Russia in hypersonic weapons he concludes that "there's a whole zoo of hypersonic systems on the drawing board".

 

Special materials that can withstand the extreme heat created around Mach 5, and a host of other technologies, are making hypersonic flight in the Earth's atmosphere possible.

 

Experiments in piloted hypersonic flight date back to America's X-15 rocket-plane of the 1960s. And Intercontinental Ballistic Missiles (ICBMs) also re-enter the atmosphere at very high hypersonic speeds.

 

Now rival powers are striving to create weapons that can stay within the atmosphere, without needing to utilise the cooling properties of outer space, and that can be manoeuvred - unlike a static ICBM aimed at a city - towards a target that might be moving itself.

 

Carrier-killers

Military spending is driving the hypersonic push by the three big national players.

 

In a recent Pentagon media briefing Mike White, assistant director for hypersonics in the US military, talked about development being driven by "our great power competitors and their attempts to challenge our domain dominance".

 

Accuracy is a major challenge for these hypersonic missiles.

 

Mere possession of hypersonic missiles, dubbed "carrier-killers", might force US aircraft carriers to stay far from the Chinese coast in the mid-Pacific.

 

But hitting a nuclear-powered aircraft carrier travelling at 30 knots or more (35mph or 56km/h) requires fine adjustments to a missile's course that are tough to achieve at Mach 5.

 

The heat generated around a missile's skin creates a sheath of plasma, or gaseous matter, at hypersonic speeds.

 

This can block off signals received from external sources, such as communications satellites and can also blind internal targeting systems trying to see outwards to locate a moving object.

 

Plasma only builds up where the highest temperature is found.

 

A conical-shaped missile will have a uniform coating of plasma, but missiles that resemble sleek-winged darts may push that plasma screen away from surfaces that contain the most sensitive antennae.

 

Shark jaws

As if hypersonic flight isn't difficult enough, chemical dissociation adds to the problems.

 

At extreme speeds and temperatures this phenomenon causes oxygen molecules to break down into their constituent atoms.

 

This in turn complicates the chemical model that any air-breathing engine is based on.

 

The X-51A flew at Mach 4.5

Progress in the hypersonic arms race has been dramatic. In 2010 the US flew a shark-jawed, unmanned aircraft across a stretch of the Pacific Ocean at hypersonic speeds for five minutes.

 

The goal was more than sheer speed. It was time.

 

Five minutes may not sound like a long flight time, but in terms of defeating hypersonic barriers it was a triumph.

 

This speed machine, the X-51A, was dropped from a high-flying B-52 bomber and used a rocket booster to reach Mach 4.5 before its main engine kicked in.

 

Known as a scramjet, this engine combined the rush of air into a jagged intake with jet fuel - to accelerate to hypersonic speeds.

 

That meant coping for several minutes with air temperatures entering the intake at 1,000C. Four X-51As eventually took a one-way trip over the Pacific between 2010 and 2013.

 

Shockwaves

Aerojet Rocketdyne is a California space and rocket engine specialist that worked on the X-51A. It is a measure of the secrecy surrounding this technology that its staff will only speak on condition of anonymity, even seven years after the project ended.

 

One hypersonics expert at the firm says of the X-51A: "The really hot part of the machine is at the front where shockwaves form, so that's where the investment in materials goes".

 

He says much was learned from the X-15 rocket-plane of the 1960s and from the subsequent Space Shuttle programme.

 

Reaction Engines has now demonstrated a process that should enable its aero-engine to ingest super-heated hypersonic air without hiccups.

 

Its Sabre engine incorporates what it calls a "pre-cooler". This is the first part of the engine to encounter the raging hot hypersonic air.

 

The challenge then is to mix it with fuel to create thrust.

 

As hot as lava

The Sabre engine was subject to an intensive test regime at a Colorado site in October 2019, during which Reaction Engines had to find a way to replicate hypersonic air speeds.

 

The firm took a supersonic engine, nailed it down and channelled the air blasting out of its rear into the Sabre engine's intake.

 

The Sabre pre-cooler did its job, piping coolant into the system at high pressure and allowing Sabre to mix that air with fuel.

 

The materials required here are not simple. The Space Shuttle relied on ceramic tiles comprised of composite materials known as ablatives to shield it during the white-hot re-entry into Earth's atmosphere.

 

An alternative approach to ablatives is to employ a nickel alloy called Inconel which can cope with airflow heated to the same intensity as a lava flow.

 

Mr Dissel says Reaction Engines is now going down this Inconel alloy route. "That's kind of where we are now, and also running cooling channels to sap the heat," he says.

 

So a sophisticated thermal management system paired with Inconel points the way forward.

 

Hypersonic leaders

If this combination works the vision of paying passengers on a hypersonic flight might become a reality within 15 years.

 

The potential for hypersonic travel to let VIPs arrive with maximum impact has been spotted by the US Air Force unit that deals with presidential jets.

 

It has commissioned Atlanta-based hypersonic start-up Hermeus to evaluate a Mach 5 transport design carrying up to 20 passengers.

 

It means that in the future, the president of the United States might one day join a very select band of Mach 5 travellers--BBC

 

 

 

The search engine boss who wants to help us all plant trees

The BBC's weekly The Boss series profiles different business leaders from around the world. This week we speak to Christian Kroll, the founder and chief executive of internet search engine Ecosia.

 

Christian Kroll wants nothing less than to change the world.

 

"I want to make the world a greener, better place," he says.

 

"I also want to prove that there is a more ethical alternative to the kind of greedy capitalism that is coming close to destroying the planet."

 

The 35-year-old German is the boss of search engine Ecosia, which has an unusual but very environmentally friendly business model - it gives away most of its profits to enable trees to be planted around the world.

 

Founded by Christian in 2009, Ecosia makes its money in the same way as Google - from advertising revenues. It earns cash every time someone clicks on one of the adverts that appears above and beside its search results.

 

Ecosia then donates 80% of the profits it makes from this to tree-planting charities. To date it has funded more than 105 million new trees, from Indonesia to Brazil, and Kenya to Haiti.

 

As obviously not everyone clicks on the adverts, the company estimates that, on average, it takes 45 searches to raise the 0.22 euro (20p; 26 US cents) cost of planting of one tree.

 

Today Berlin-based Ecosia says it has 15 million users. This is a tiny drop in the ocean compared with Google's estimated 5.6 billion searches per day, but Christian says he has grand ambitions to "scale massively, win more users, and plant billions of trees".

 

And unlike the billionaire founders of Google - Larry Page and Sergey Brin - he promises to never buy a super yacht. "While they have big yachts I have an inflatable dinghy that I take to lakes. Ego consumption is not appropriate in a world where there's climate change."

 

Christian would, in fact, struggle to buy a yacht if he ever wanted one, as he put two legally binding restrictions on the business - shareholders and staff cannot personally sell shares or take profits outside of the company.

 

Christian says he has no interest in super yachts, such as this one - Senses - which was bought by Google's Larry Page for $45m in 2011

Born in the former East Germany in 1985, Christian wasn't always so altruistic. As a teenager in the town of Wittenberg, he and his friends would play the stock markets, often trebling their investments.

 

He wanted to become a stockbroker, and so enrolled to study business administration at the University of Erlangen-Nuremberg in Bavaria.

 

However, his world view changed when aged 18 he went travelling for three months through India. "I met smarter people than me who didn't have the same opportunities because they weren't born in Germany," he says. "It started dawning on me that maybe I should do something to make the world a better place."

 

Then at university he first started to pay close attention to online advertising when he set up a website that compared different online brokers. "I was shocked at how much of my revenue I was spending on Google ads to bring traffic to the site," he says.

 

And so his idea for what would eventually become Ecosia was born. "It became clear to me that Google had a very smart business model, and it was also fairly obvious that there was space for a purpose-driven search engine to do something similar... to use the money to fund tree planting."

 

After university he spent six months in Nepal in 2007, where he first tried and failed to launch a search engine to raise funds for local charity and non-government projects. "I didn't know how to launch a business, funds were limited, and most days there were internet and electricity issues."

 

He then spent 10 months in South America where the level of deforestation that he saw gave him the determination to launch Ecosia in 2009 after he had returned to Germany. The name is a mixture of the words "eco" and "utopia".

 

Christian says he got the business up and running with the help of others. "The truth is that I didn't have the technical knowledge to do it, but I was able to rely upon the skillset of friends and family," he says.

 

Today Ecosia employs 70 people, and it publishes financial statements online every month. Last year it had annual revenues of €19.3m (£17.3m; $22.8m), and a pre-tax profit of €14.5m.

 

All of its electricity comes from solar power, and 80% of its users are said to be 29 or younger.

 

Its search engine uses Microsoft's Bing's technology, with whom it has a long-term arrangement. "They really like what we are doing," says Christian.

 

Eric Haggstrom, analyst at business research group Insider Intelligence, says that Ecosia and other smaller search engines face "significant obstacles".

 

"Most importantly, Google provides the default search for Android devices, and the Chrome browser," he says. "And it spends billions of dollars a year to be the default search provider for Apple devices.

 

"Most users won't use search engines other than their device or browser defaults. And on the ad side, advertisers use Google's search product because it performs [so] well."

 

Christian admits it "can be tricky", and wants regulators to do something to loosen Google's grip.

 

But more generally, he wants to see capitalism changed for the better. "This is really needed in the 21st Century," he says.

 

"What we're trying to do is reform capitalism. I think in its current state it's not healthy. I want us to rethink how business should be, what the role of business is."--BBC

 

 

 

Inverted Energy launches range of lithium-ion batteries

Delhi-based battery maker Inverted Energy on Tuesday launched a new range of lithium-ion batteries for electric vehicles and home energy storages, among others, claiming that its latest solution offers 20 per cent energy efficiency. These next-gen batteries will be unveiled on September 5 on Inverted Energy's website, while the commercial production is expected to start from October 2 for selected large projects and companies, Inverted Energy said in a release. The new products will be available in the open market once the patents are filed, it added.

 

Wholly designed and engineered in India, the altogether new range of batteries will be manufactured at the company's New Delhi-situated production facility, the release stated. "These batteries will be a step towards the future in which energy storage systems will be created and manufactured completely in India." said Gurfraraaz Singh, head of design and innovation, Inverted Energy.

 

The batteries with various applications, including in electric vehicles, solar plants, home storage and utility power, have a microprocessor that controls and uses advanced algorithms to make the batteries perform better. The chip was designed in-house at the Inverted R&D lab, the company said. The batteries have several advantages over lead-acid batteries such as lesser in size and weight, making them portable and mountable, lesser charging times, and quick energy discharge, among others, it said. The batteries will initially be supplied to the EV makers and solar projects but gradually will be rolled out for home users as well, Inverted Energy said.

 

These will be one of the first lithium batteries for home usage and will be highly efficient, with increased durability and affordability, it added.

 

 

 

 

Caribbean telecom sector revenue affected by COVID-19

(GLOBE NEWSWIRE) -- Just released, this edition of Paul Budde Communication’s focus report on the Caribbean outlines the major developments and key aspects in the telecoms markets.

 

In the long-term the sector remains one of steady growth, particularly in the mobile telephony and data segments. However, such is the dependence on tourism for many of the islands states that lockdowns associated with the COVID-19 pandemic, both within the Caribbean and among visitor countries, have had a dramatic effect on local economies. This has had a knock-on effect on consumer spending for telecom services and on operator revenue.

 

Although there are a number of smaller players operating, Digicel Group and Liberty Latin America are the dominant providers, with local business units spanning the region. Their fixed-line and mobile infrastructure assets have cemented their position as full-service providers. Competition between them has encouraged investments to expand the reach of fibre networks and LTE, while there is also goring interest in 5G infrastructure from Liberty’s mobile unit Flow.

 

Digicel has invested widely in fibre infrastructure, though at the expense of Group free-cash flow at a time when the Group has amassed considerable debt. As of mid-2020, the Group’s survival rests on its success in renegotiating loans of about $4.3 billion due by the end of 2022.

 

There have been ongoing changes in telecoms regulations across the region, with national regulators focussed on efforts to improve competition and facilitate investment.

 

BuddeComm notes that the outbreak of the Coronavirus in 2020 is having a significant impact on production and supply chains globally. During the coming year the telecoms sector to various degrees is likely to experience a downturn in mobile device production, while it may also be difficult for network operators to manage workflows when maintaining and upgrading existing infrastructure. Overall progress towards 5G may be postponed or slowed down in some countries.

 

On the consumer side, spending on telecoms services and devices is under pressure from the financial effect of large-scale job losses and the consequent restriction on disposable incomes. However, the crucial nature of telecom services, both for general communication as well as a tool for home-working, will offset such pressures. In many markets the net effect should be a steady though reduced increased in subscriber growth.

 

Although it is challenging to predict and interpret the long-term impacts of the crisis as it develops, these have been acknowledged in the industry forecasts contained in this report.

 

The report also covers the responses of the telecom operators as well as government agencies and regulators as they react to the crisis to ensure that citizens can continue to make optimum use of telecom services. This can be reflected in subsidy schemes and the promotion of tele-health and tele-education, among other solutions.

 

Key developments:

 

·         Digicel Group seeking to refinance debts;

·         Bahamas regulator imposes new wholesale broadband access regime on BTC and Cable Bahamas, issues revised National Spectrum Plan;

·         Bermudan regulator issues three new telecom licenses, calls temporary halt on 5G trials;

·         US government completes second subsea cable, linking Puerto Rico with Guantanamo Bay Naval Base;

·         Antigua government invests EC$80 million to improve state-owned telco’s market competitiveness;

·         New telecom regulator formed for Cayman Islands;

·         Digicel Jamaica launches MyCash m-banking service;

·         Haiti sets up digital incubator to foster digital economy growth;

·         Report update includes regulators’ annual reports and market updates, operator data to Q1 2020, ITU’s market data, Telecom Maturity Index charts and analyses, assessment of the global impact of COVID-19 on the telecoms sector, recent market developments.

Companies mentioned in this report:

Cable & Wireless, LIME, Flow, Liberty Global, Digicel Group, Orange Caraïbes, United Telecommunications Services (UTS), KeyTech, Puerto Rico Telephone Company, América Móvil, AT&T, Liberty Cablevision; OneLink Communications; T-Mobile; Open Mobile; Sprint PCS; Choice Cable-globenewswire

 

 

 

 

‘We’re getting paid to produce Bitcoins’ reveals Texas BTC miner

Texas crypto miner operator Layer1 Technologies has been able to sell back its power supply for 8X the price.

 

According to a Sept. 1 Bloomberg report, Layer1 reported nearly 700% profits from selling excess electricity from its 'Bitcoin Batteries' - large-scale energy storage systems used on the firm’s crypto farms in Texas.

 

When the power demand for air conditioning is highest in Texas — where it’s regularly above 37 degrees Celsius (100 in Fahrenheit) in the summer — Layer1 reduces or stops crypto mining as needed to send any unused power back onto the grid during the day. The excess heat coupled with little-to-no power from wind farms on certain days hasallowed Layer1 to reap up to 700% in profits, by taking advantage of power prices in the area exceeding $200 per megawatt-hour.

 

“We’re getting paid to produce Bitcoins,” said Layer1 co-founder and CEO Alexander Liegl.

 

Uniquely positioned in west Texas, where wind farms supply more than 15% power to the entire state — the highest proportion in the country — Bitcoin (BTC) miners like Layer1 have a viable alternative business as power plants.

 

It’s all part of the plan: Liegl stated earlier this year that Layer1 would be focusing on selling electricity during the summer months rather than crypto mining. The mining rigs are not cooled by air, but rather suspended in a non-conductive liquid.

 

Layer1’s foray into crypto mining is part of its overarching plan to return 30% of Bitcoin’s total hashrate power back to the U.S. by 2022. Liegl says the company will soon install 50 containers near Midland, capable of producing 100 megawatts of electricity and mining 27 BTC every day, or more than $320,000 worth at the time of writing.-cointelegraph

 

 

 

 

Ethereum Is Eating Bitcoin

I write about how bitcoin, crypto and blockchain can change the world.

Ethereum, having long played second fiddle to the number one cryptocurrency, bitcoin, is stepping into the limelight.

 

The ethereum price, climbing more than 10% over the last 24-hour trading period and adding to gains of all almost 300% so far this year, remains far behind the bitcoin price—but price isn't everything with the number of bitcoin tokens "wrapped" into ethereum doubling in August.

 

Ethereum Soars 10% Overnight — Implications For Bitcoin

A Radical New Crypto Just Blew Past The Bitcoin Price All-Time High—Up A Shocking 3,500% In Just One Month

10 Great Movies To Watch Before They Disappear From Netflix At The End Of August

Bitcoin can be wrapped onto the ethereum blockchain using a number of ethereum-based tokens, such as WBTC, which has surged in popularity since May, according to data from Dune Analytics. During some periods in August, more bitcoin was wrapped onto ethereum than was created by bitcoin miners.

 

Bitcoin wrapped onto the ethereum blockchain using WBTC is backed 1:1 by bitcoin and minted by locking up bitcoin on the bitcoin blockchain. It's thought that by wrapping bitcoin onto ethereum and making it compatible with smart contracts, users will be able to unlock tools such as lending, liquidity provision, and decentralized exchanges.

 

"This presents an interesting quandary for bitcoin. While it clearly has more utility after being converted onto the ethereum blockchain, its underlying value ostensibly comes from the 68 terawatt-hours of power that go into securing the bitcoin blockchain each year," Glassnode analysts wrote in their weekly newsletter.

 

"How much bitcoin has to migrate onto ethereum before the necessity of the bitcoin blockchain itself starts coming into question," Glassnode asks. "And, if this were to occur, what would back the value of bitcoin if not the massive amounts of energy that go into maintaining its existence?"

 

Meanwhile, the ethereum price is soaring, boosted by the decentralized finance (DeFi) craze that's currently sweeping the bitcoin and crypto world. DeFi is the idea that cryptocurrency technology can be used to recreate traditional financial instruments such as loans and insurance.

 

"Following a challenging number of weeks for many crypto-assets, ethereum’s price increase shows it is one of the main alts leading the market," Simon Peters, bitcoin and crypto analyst at investment platform eToro, said via email.

 

"I agree with Glassnote's reports that bitcoin is no longer investors’ first steps into crypto—many new investors may be entering the market directly into ethereum or DeFi protocols, rather than choosing bitcoin as their first or only crypto investment as they did in the 2017 crypto bull run."-forbes

 

 

 

 

Canada to purchase 76 million doses of Novavax coronavirus vaccine, company says

American vaccine developer Novavax announced Monday that it’s reached an agreement in principle with Canada to supply 76 million doses of its experimental coronavirus vaccine to the country.

 

The company said it expects to finalize an agreement to supply Canada with doses “as early as the second quarter of 2021.” The agreement is contingent on the vaccine getting a license from Health Canada, the company said.

 

Shares of Novavax closed more than 2% higher. 

 

The company’s vaccine, called NVX-CoV2373, is currently in phase two trials. It has previously said it could begin late-stage trials as early as October. 

 

“We are moving forward with clinical development of NVX-CoV2373 with a strong sense of urgency in our quest to deliver a vaccine to protect the world,” Novavax CEO Stanley Erck said in a statement.

 

The company did not disclose the financial terms of the agreement.

 

“This is an important step in our government’s efforts to secure a vaccine to keep Canadians safe and healthy, as the global pandemic evolves,” Anita Anand, Canada’s minister of public services and procurement, said in a statement.

 

The agreement is the latest example of countries, particularly wealthier Western nations, rushing to secure doses of a potential vaccine for the coronavirus, which has infected more than 25.2 million people around the world and killed at least 846,900 people, according to data compiled by Johns Hopkins University. Canada previously announced similar deals with Pfizer and Moderna, two front-runners in the race for a vaccine. 

 

Similarly, the U.S. has so far invested more than $10 billion in six vaccine candidates through Operation Warp Speed, the Trump Administration’s effort to accelerate the development, manufacturing, and distribution of vaccines and treatments to fight the coronavirus. The goal of the initiative is to provide 300 million doses of a safe and effective vaccine by January 2021.

 

Dr. Robert Redfield, director of the Centers for Disease Control and Prevention, said last week that vaccine doses will likely be in short supply once a candidate is cleared for public distribution in the U.S. 

 

“At first, there will likely be a limited supply of one or more of the Covid-19 vaccines, because limited doses will be available,” Redfield said Friday on a conference call with reporters. “It’s important that the early vaccines are distributed in a fair, ethical and transparent way.”

 

Countries are moving now to secure supply for their residents through deals like the one agreed to between Novavax and Canada.

 

In recent weeks, World Health Organization officials have repeatedly warned that high demand for a safe and effective vaccine is already causing competition between countries and could drive prices higher.

 

“When a successful new vaccine is found, there will be greater demand than there is supply. Excess demand and competition for supply is already creating vaccine nationalism and risk of price gouging,” WHO Director-General Tedros Adhanom Ghebreyesus said earlier this month. “This is the kind of market failure that only global solidarity, public sector investment and engagement can solve.”

 

Tedros has encouraged countries to allocate funding toward the Access to COVID-19 Tools (ACT) Accelerator, which is a group launched by the WHO and a variety of philanthropic and scientific groups, among others, to accelerate the development, production and distribution of Covid-19 tests, treatments and vaccines. He said greater investment in the program will bolster international collaboration and allow for a more effective response to the virus.

 

“Before spending another $10 trillion on the consequences of the next wave, we estimate that the world will need to spend at least $100 billion on new tools, especially any new vaccines that are developed,” Tedros said. “The development of vaccines is long, complex, risky and expensive. The vast majority of vaccines in early development fail. The world needs multiple vaccine candidates of different types to maximize the chances of finding a winning solution.”--cnbc

 

 

 

Walmart Reveals Paid Loyalty Program

Walmart this morning announced the launch its much-anticipated paid loyalty program, saying the newly christened Walmart+ will provide members-only benefits of unlimited home deliveries, fuel discounts and a scan-and-go shopping feature in Walmart stores for an annual $98 fee.

 

Membership will be available to customers beginning Sept. 15. Paid members of the retailer’s Delivery Unlimited program, which launched last year and is being absorbed by the Walmart+ program, will be automatically enrolled.

 

Walmart, which has encountered some scrutiny over how recent introductions of paid offerings fit within a historic emphasis on low prices and low costs, characterized Walmart+ as a kind of an everyday-low-price approach to consumer’s time and an offering that further leverages its 4,700 stores as assets in an burgeoning omnichannel retail approach.

 

“We are a company committed to meeting our customers’ needs,” Janey Whiteside, chief customer officer of Walmart, said in a statement. “Customers know they can trust us and depend on us, and we’ve designed this program as the ultimate life hack for them. Walmart+ will bring together a comprehensive set of benefits where we see the greatest needs from our customers and where our scale can bring solutions at an unprecedented value.”

 

Walmart+ benefits, which the company said it intends to add to over time, are as follows:

 

Unlimited free delivery: In-store prices as fast as same day on more than 160,000 items from tech and toys to household essentials and groceries. This service was previously known as Delivery Unlimited.

Scan & Go: Members will be able to “unlock” a Scan & Go feature in the Walmart app, which the company said was a faster way to shop in stores, enabled by Walmart Pay. Walmart has experimented with similar technologies in recent years but withdrew a wide-ranging free option available in some locations, reportedly due to concerns over shrink.

 

Fuel discounts: Shoppers can save up to 5 cents a gallon at nearly 2,000 Walmart, Murphy USA and Murphy Express fuel stations. Sam’s Club fuel stations will soon be added to this lineup.

 

“Life feels more complicated than ever. Walmart+ is designed to make it easier—giving customers an option to not have to sacrifice on cost or convenience,” Whiteside said. “We know shopping should fit customers’ needs, not the other way around. We have always been a champion for the right item at the right price, but now it’s more than that. We have the right shopping solutions at the right time too.”

 

Analysts see Walmart+ as a strike at competition from Amazon, whose Prime loyalty program has more than 100 million paid members realizing benefits ranging from fast deliveries to streaming TV and access to voice assistants.

 

“In order to compete, Walmart has to have Amazon-matching e-commerce capability. In order to win, Walmart also has to further leverage its omnichannel capabilities,” said Miya Knights, head of industry insight for Eagle Eye, a London-based digital marketing platform. “Walmart’s offer of same-day delivery bundled with other extras will appeal to online customers, particularly if they are already familiar with the convenience and scope of Amazon Prime. But the option to also buy online and pickup in store, of which Amazon has only in a limited capacity, may well be the game changer.”

 

Jefferies analyst Chris Mandeville said Walmart+ could represent a threat not so much to Amazon but to existing brick-and-mortar rivals like Kroger and Target, given what he described as “more limited” omnichannel offerings at the latter companies.

 

The news of the Walmart+ launch comes as the Bentonville, Ark.-based mass merchant has also acknowledged interest in pairing with Microsoft to acquire TikTok, the popular Chinese video-sharing app noted for a large base of young enthusiasts and leading e-commerce and advertising features. Analysts see this too as a potential to further differentiate Walmart from traditional rivals while developing marketplace e-commerce and advertising businesses that can better match up against Amazon.

 

“We believe a potential relationship with TikTok U.S. in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses,” Walmart said in a statement late last week.

 

TikTok sale speculation ratcheted up in the wake of an executive order issued  by President Donald Trump last month seeking to ban the app in the U.S. were it not sold to U.S.-based interests within 90 days, citing user privacy concerns.-winsightgrocerybusiness

 

 

 

 

American, Delta And Alaska Airlines All Slashing Change Fees

If you can’t beat ‘em, join ‘em. United Airlines delivered a disruptive message that it would no longer collect change fees from passengers that wish to change their tickets. This shook the industry, and put the other legacy carriers under pressure to match United’s offer. Sure enough, other carriers have now followed suit.

 

On Aug. 31, Delta Airlines and American Airlines announced they would eliminate change fees, effective immediately. On Sept. 1, Alaska Airlines did the same.

 

While change fees have been eliminated by United, Delta, American and Alaska Airlines, note that the difference in fare between the old ticket and the new ticket will still apply. 

 

Here’s what you need to know and how these changes may affect how you fly.

 

Delta Eliminates Change Fees

Delta Airlines has followed United Airlines’ lead by eliminating change fees. However, this may have already been in the cards for the Atlanta-based carrier. At Delta’s Investor Day in Dec. 2019, the intent to overhaul its change fee structure was announced. And now with the pandemic wreaking havoc on the airline industry, it proved to be the time to implement the adjustment.

 

Details Of Delta’s New Change Fee Policy

This new policy applies to domestic flights, including Puerto Rico and the U.S. Virgin Islands. 

For flights booked through the end of the year, you’ll receive a voucher for the difference in cost if you change to a cheaper flight. This applies to flights in 2020 only. Details for flights in 2021 have not yet been announced.

This policy does not apply award flights booked with Delta SkyMiles. Change fees to award tickets cost $150 but are waived for Delta Platinum and Diamond Medallion members.

 

Republicans Prepare New Stimulus Bill With No Student Loan Relief, Reduced Unemployment Benefits

American Eliminates Change Fees

American Airlines said it is eliminating the fees for those flying in first class, business or main economy. However, their changes are a bit more robust than Delta’s.

 

Details Of American Airlines’ New Policy

Basic economy fares will still be subject to change fees after Dec. 31.

The new policy applies to all domestic flights, and select short-haul international destinations, including between the U.S. and Mexico, Canada, the Caribbean, Puerto Rico and the U.S. Virgin Islands. Basic economy fares and other international flights are excluded from the new policy.

If you change flights and your new flight is cheaper, you will be given a credit for future use.

This new policy applies to award tickets that are purchased on or before Dec. 31, 2020. The policy for award tickets purchased after this date has not yet been announced. 

 

Alaska Eliminates Change Fees

Alaska Airlines has been known to have unique promotions to get customers in the sky. And recently, the airline joined the Oneworld alliance to expand their footprint to customers. Now, they announced on Tuesday they are following the pack by eliminating change fees, effectively immediately.

 

Airlines earned billions of dollars in revenue through these fees, but now that airlines are on the brink of bankruptcy due to the pandemic, they are pulling out all stops to ensure solvency by giving customers more reasons to fly, rather than fewer. On the front, it sounds like a great deal for consumers. 

 

Many customers are, rightfully so, worried about planning travel during the COVID-19 pandemic. These consumer-friendly policies should provide more confidence when it comes to booking upcoming travel. Potential travelers can now book a trip that they hope to take without having to worry whether or not COVID-specific change fee waivers are in place. Keep in mind any change in price between the fares. 

 

Overall, this is a great shift in the industry for travelers. No one enjoys paying extra fees, and certainly not a $200 fee to change dates of travel.-forbes.com

 

 

 

 

Oil Price Fundamental Daily Forecast – Speculative Buyers Reacting to Weaker Dollar

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading slightly higher on Tuesday after posting a dramatic reversal to the downside the previous sessions. Traders are saying that oil prices are being supported by investors moving into riskier assets as the traditional safe-haven U.S. Dollar continues to get hammered into multi-year lows.

 

At 08:41 GMT, October WTI crude oil futures are trading $43.05, up $0.44 or +1.03% and December Brent crude oil is at $46.16, up $0.50 or +1.10%.

 

Brent closed out August up 7.5% for a fifth successive monthly price rise. WTI logged a fourth monthly gain at 5.8% after hitting a five-month high of $43.78 a barrel on August 26 when Hurricane Laura struck.

 

Demand Worries, Oversupply Concerns

Crude oil prices fell on Monday, with Brent slipping from a five-month high as global demand remained below pre-COVID levels while U.S. production edged up.

 

Still, with key economies around the world limply recovering from coronavirus lockdowns, the market could remain oversupplied with fuel.

 

Traders fear the issue over demand isn’t going to go away over the near-term. Furthermore, U.S. oil production climbed 420,000 barrels per day in June to 10.44 million barrels a day, the U.S. Energy Information Administration said, putting further pressure on prices.

 

Weak Dollar – Good for Commodities?

Prices are up on Tuesday because text book traders are following the premise that a weaker U.S. Dollar is good for commodity prices. A lower greenback is supposed to be good for crude oil because the asset is priced in dollars which makes it more attractive to foreign buyers.

 

A weak U.S. Dollar is helping to draw fresh foreign demand for dollar-denominated crude oil after the Fed made an accommodative announcement last week that nearly guarantees interest rates would remain close to zero percent for several more years.

 

However, there are some who are questioning whether the weaker U.S. Dollar will actually help to drive up demand.

 

“We believe that the impact of a cheaper dollar from current levels will see a minimal impact on crude purchases, irrespective of slightly more favorable crude pricing,” RBC Capital’s Mike Tran said in an August 27 note.

 

“The relationship between demand and price elasticity is blunted in the current environment, because oil is already cheap and readily available and there currently exist a dearth of buyers.”

 

Short-Term Outlook

Crude oil continues to face hurdles going forward that could slow down the rally, or bring the move to a halt, namely demand struggles as COVID-19 cases continue to increase globally and excessive supplies, particularly gasoline and distillates. We continue to expect a rangebound trade although the weaker U.S. Dollar may start to attract speculative bulls into the market. The weaker U.S. Dollar is also likely to prevent a price collapse too.

 

Looking ahead to Tuesday’s American Petroleum Institute (API) and Wednesday’s Energy Information Administration (EIA) weekly inventories reports, inventories likely fell for a sixth straight week, while refined product stocks also declined last week, a preliminary Reuters poll showed on Monday.

 

For a look at all of today’s economic events, check out our economic calendar.--forbes.com

 

 

 

McDonald’s Faces $1 Billion Discrimination Lawsuit From Dozens Of Black Ex-Franchise Owners

TOPLINE McDonald’s is being sued for up to $1 billion by dozens of Black former franchise owners who claim that the fast food giant systematically placed them in “substandard locations” that hinder profitability and growth, saddling them with high insurance costs and leaving their restaurants performing below the national norm, according to the plaintiffs.

 

The lawsuit comes weeks after the world’s biggest fast food chain was among dozens of corporations to release a statement in support of Black Lives Matter and condemn racism following George Floyd’s death and nationwide anti-racism protests.

 

In June, new CEO Chris Kempczinski acknowledged McDonald’s had more work to do to improve racial equality and diversity within the company, after two executives filed a lawsuit against the company for allegedly pushing out Black managers and franchisees.

 

Despite this, Kempczinski claimed that the chain had created more millionaires in the Black community than any other company.

 

But the latest lawsuit, filed by 52 Black former franchise owners in a Chicago federal court, says their average sales of $2 million a year between 2011 and 2016 were $700,000 below the national average, often leading them to bankruptcy, Reuters reports.

 

Jim Ferraro, representing the plaintiffs, told Reuters that the number of Black franchise owners has halved to 186 over the past two decades, while a lawsuit earlier this year claims that almost a third of Black franchisees left under ex-CEO Steve Easterbrook’s tenure between 2015 and 2019.

 

No, Putting A Person Of Color On Your Panel Doesn’t Accomplish “Diversity”

McDonald’s said in a statement to Forbes: "Not only do we categorically deny the allegations that these franchisees were unable to succeed because of any form of discrimination by McDonald’s, we are confident that the facts will show how committed we are to the diversity and equal opportunity of the McDonald’s System, including across our franchisees, suppliers and employees.”

 

CRUCIAL COMMENT

Ferraro said in an interview with Reuters: “It’s systematic placement in substandard locations, because they’re Black. Revenue at McDonald’s is governed by one thing only: location.”

 

BIG NUMBER

20%. That’s how much of the chain’s revenue Black customers account for in the U.S., CNBC reports. 

 

KEY BACKGROUND

The lawsuit is the latest turn in McDonalds’ controversial history within the Black community and Black franchise owners. In her book Franchise: The Golden Arches in Black America author and Georgetown professor Marcia Chatelain explores how fast food expanded economic opportunity within the Black community amid a backdrop of racial inequality, and the role McDonald’s played by franchising in communities it had previously overlooked and helped to create wealthy Black franchise owners that in turn empowered their communities. But that legacy becomes complex when considering the bigger impact that the company has left within those communities: “The low wages, the health disparities or the access to fresh food in communities of colour,” Chatelain told Marketplace in July. “Race has always been at the core of McDonald’s and its ability to expand,” Chatelain said. The effects of that legacy, and questions about the company's commitment to Black employees came to a head earlier this year when Black senior executives Vicki Guster-Hines and Domineca Neal named Easterbrook, President Charles Strong and Kempczinski in a lawsuit alleging that they were victims of racial discrimination and a hostile work environment “in both words and deeds.” The lawsuit also alleged that Black franchise owners were driven “out of the system in record numbers,” and that the firm stopped advertising to Black customers.

 

CHIEF CRITIC

Chatelain added in her interview with Marketplace: “One of the things that I think a lot of these companies don’t understand is that when you declare that Black Lives matter, you shift the terrain of the debate. Now people are going to say: ‘well, prove it. Don’t just say it in terms of donations to organizations. How are you treating Black workers? How are you making sure that what you’re doing can actually enrich Black communities, instead of just exploit them?’”

 

WHAT TO WATCH FOR

How McDonald’s responds, and how the dispute unfolds. Pizza chain Papa Johns took a major hit after former CEO John Schnatter, who was at one point the face of the brand, used the n-word during a call with investors. He eventually stepped down, but the controversy wound up costing the chain $51 million in 2018.

 

TANGENT

The fast food giant is suing Easterbrook, over claims that he lied about the extent of his sexual relationship with three employees—claims that Easterbrook denies. McDonald’s is asking Easterbrook to return his $42 million in severance pay. That package was agreed as part of his exit deal last year, after the executive was fired for breaching company policy by entering into a relationship with an employee.--forbes.com

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:         <http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw&sa=D&sntz=1&usg=AFQjCNH8LYgdY55h-XKseuM8Kpr-JKdfhQ> www.bulls.co.zw 

Blog:            <http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw> www.bulls.co.zw/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:      <http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA> www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2020

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


SeedCo International

AGM

Virtual (https://eagm.creg.co.zw/eagmzim/Login.aspx#)

26 August 2020 | 9am

 


SeedCo

AGM

Virtual (https://eagm.creg.co.zw/eagmzim/Login.aspx#)

28 August 2020 | 9am

 


Companies under Cautionary

 

 

 


 

 

 

 


Bindura Nickel Corporation

 

 

 


Padenga Holdings

 

 

 


Delta Corporation

 

 

 


Meikles Limited

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from sources believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other  Indices quoted herein are for guideline purposes only and sourced from third parties.

 


 

 


(c) 2020 Web: <http:// www.bulls.co.zw >  www.bulls.co.zw Email:  <mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77 344 1674

 


 

 

 

 

 

 

Invest Wisely!

Bulls n Bears 

 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:         <http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw&sa=D&sntz=1&usg=AFQjCNH8LYgdY55h-XKseuM8Kpr-JKdfhQ> www.bulls.co.zw 

Blog:            <http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw> www.bulls.co.zw/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:      <http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA> www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 



 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200902/cbe840d7/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 31411 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200902/cbe840d7/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 31421 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200902/cbe840d7/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 4846 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200902/cbe840d7/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 31433 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200902/cbe840d7/attachment-0007.jpg>