US President Donald Trump says economy would ‘rocket’ if Fed cut rates

first_img US President Donald Trump said the Federal Reserve should cut interest rates, saying the economy would take off “like a rocket ship” if they did.Speaking following the release of US jobs data which showed a strong rebound in hiring in March, Trump said the US central bank “really slowed us down”, CNBC reported. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny Share whatsapp Friday 5 April 2019 4:27 pm Trump told a press conference he thought the Fed “should drop rates and get rid of quantitative tightening”, the selling of bonds and securities bought to stimulate the economy after the financial crisis.The Fed, under the leadership of Trump nominee Jay Powell, raised interest rates four times in 2018.At its last meeting, the central bank decided to hold interest rates amid a gloomy global economy and trade wars with China.Today’s figures from the Bureau of Labor Statistics showed that wage growth slowed to 3.2 per cent in March compared to a year earlier, from 3.4 per cent in February, but new jobs increased by 196,000. The mixed data will be seen by many as justifying the Fed’s decision to hold rates.On Thursday Trump announced that he had recommended ally Herman Cain, former chief executive of pizza chain Godfather’s, for a position on the board of the Federal Reserve. center_img Harry Robertson More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi US President Donald Trump says economy would ‘rocket’ if Fed cut rates Tags: Trading Archive whatsapplast_img read more

An F-Shaped recovery – How Freelancers are powering Britain’s brilliant bounce-back

first_img whatsapp This wasn’t just any ordinary crisis – the financial hit the UK has taken from COVID-19 has been shorter, sharper, and deeper than any we’ve seen before. According to the Resolution Foundation, the mere seven working days of lockdown in the first three months of 2020 gave the UK it’s biggest quarterly economic contraction since the financial crisis. And what many businesses appear to have done well is to move their offline businesses online – in new and interesting ways. Most entrepreneurs will tell you that the ability to adapt to changing circumstances is key to success. In fact, data suggests a high proportion of SMEs see flexibility and agility as their greatest asset. But it’s also true that many of the UK’s businesses deployed digital freelancers in interesting ways to help them through this crisis. And the impact of this dynamic new way of thinking may have had a big impact on productivity. The data also found further correlations between how prepared businesses felt for the crisis, and how optimistic they feel about the future.  And at the other end of the scale the opposite is true – here businesses in places like Manchester and Bristol felt more prepared, turned on freelance help at high rates, and now feel much more optimistic about what lies ahead. Their productivity tends to be higher, too.  An F-Shaped recovery – How Freelancers are powering Britain’s brilliant bounce-back Businesses in cities like Birmingham, Bristol, and Manchester were among those most likely to have turned to on-demand talent. These also tend to be the cities that have seen the biggest increases in productivity.  Sponsored Tuesday 7 July 2020 11:21 am And – for many of the businesses we speak to every day – it was. On-demand graphic design, or SEO, or social media management – or any other niche digital skill – allows SMEs to pivot quickly, without having to bet the house on a new, unexplored revenue stream. Moving into a completely new field, many businesses may find themselves without the talent to implement new ideas – a problem compounded by the fact that they don’t want to make any new hires in such challenging times. But the country is now starting to show signs of recovery. In fact, recent stats from both the PMI and ONS retail sales data show the UK economy may be bouncing back much faster than anyone could possibly have expected. At one end of the scale are places like Cardiff and Newcastle, where businesses were unprepared, were unable or unwilling to unlock freelance talent, and now feel less optimistic about the future.  And there are millions of online freelancers helping them to succeed. The key factor that does seem to run through all of this, though, is adaptability. And some cities bucked the trend – like Exeter, for example, who were very optimistic about the future, despite low productivity. The option to bring in a reasonably-priced web developer – who you don’t have to meet in-person – could be a real game-changer in such circumstances. In fact, many employers in our study found they felt closer to their regular staff during lockdown.  There are lots of reasons for this. Government intervention in furloughing millions of workers is clearly a major factor.  Surging subscription revenue partially offset a decline in advertising Fiverr partnered with Censuswide to survey 1,000 SME leaders at the height of lockdown and find out how this crucial segment of the economy was coping. The data found correlations across different UK cities showing those who pivoted quickly to use more freelance talent were able to reap a variety of unexpected benefits. It’s these areas that freelance staff are making the biggest impact. The fact that UK SMEs seem to be bouncing back so quickly shows that Britain’s famously swashbuckling entrepreneurs are solving problems and learning to win in this new normal. Share This switch has taken many forms. Take the pub in Staffordshire that became an on-demand cocktail delivery service. Or the co-working space in Brixton that devised a smart click-and-collect food service. Of course not. As any entrepreneur will tell you, there is no one-size-fits-all solution to fix every business. Tough times require creative problem solving and complex solutions. Liron Smadja, Director Local Marketing, Fiverr So, could it be that freelancers are the simple solution to all our lockdown woes?  Show Comments ▼last_img read more

Arctic climate change researchers still conflicted over UAF’s coal-fired powerplant

first_imgEnergy & Mining | Environment | Interior | University of AlaskaArctic climate change researchers still conflicted over UAF’s coal-fired powerplantSeptember 15, 2017 by Tim Ellis, KUAC-Fairbanks Share:Work on University of Alaska Fairbanks’ new 17-megawatt combined heat and power plant is about half done. University officials say it’s scheduled to go online in December 2018. (Photo by Tim Ellis/KUAC)The University of Alaska Fairbanks is building a heat and power plant to replace the old facility that went into service in 1964.The new $245 million powerplant, scheduled to come online next year, will feature updated technology that’ll reduce most pollutants – but it will continue to emit greenhouse gases blamed for warming the planet.Many on campus say that conflicts with UAF’s leadership in Arctic climate-change research. The work on university’s 17-megawatt combined heat and power plant is about halfway done.when the state-of-the-art facility goes online around December of next year, Senior Project Manager Mike Ruckhaus said it’ll be among the most environmentally friendly coal-fired power plants in the country.“From an environmental standpoint, this meets all the current regulations and criteria,” Ruckhaus said during a tour last week around the construction site.That includes regulations related to the tiny particles called PM 2.5, produced by combustion, which can foul Fairbanks’s air during winter inversions.“It’s about as clean as you can get on PM 2.5,” Ruckhaus said.But the plant will emit nearly 132,000 tons of carbon dioxide equivalent annually, about 3 percent less than the old facility, but still roughly the amount of CO2 generated by 26,000 cars annually.Coal-fired power plants are the main source of atmospheric CO2.The new power plant still bothers some university researchers who study climate change and its impact on the Arctic even though it’s a done deal and construction is well under way.“From a scientific perspective, I understand the consequences of burning fossil fuels – and particularly for people who live in the Arctic and the subarctic,” said Scott Rupp, a professor of forestry and deputy director of UAF’s International Arctic Research Center.He said when UAF officials were debating a decade ago over what kind of power plant to build to replace the old one, he and others favored renewable-energy options like hydro and solar.“It’s disappointing,” Rupp said in a recent interview. “My personal preference would be to have been able to continue to be a showcase of not only great science on climate change but be able to put some of our innovation into how we power the Arctic university that we are.”Rupp and others acknowledge that locally mined coal, from the Usibelli operation in Healy, was the only practical option for fueling power plants in Fairbanks.“We still don’t have natural gas in town, so obviously you can’t rely on that,” University Regent John Davies said.Davies favored that type of fuel for the new power plant.And because the need to replace the old facility was urgent, Davies added, “you have to at some point have a plan and move forward on it.”Davies said UAF’s old plant was well past its design life and that university officials had to make a decision.“We had replace the power plant because it was 50 years old and it was failing,” Davies said. “It could’ve been a major catastrophe if that plant had gone down in the middle of winter.”Davies is a longtime advocate for clean air and energy efficiency, and he said he still feels conflicted over the university’s decision to build another coal-fired power plant.“There certainly remains the irony that this is the only coal-fired power plant in the nation that’s being built – and we’re also the leading group on understanding climate change and the need to reduce the emissions of fossil fuels to reduce the amount of greenhouse warming,” Davies said.Davies referred to reports from two media outlets, ClimateWire and Alaska Dispatch News, that pointed out the UAF power plant is the only one under construction in the United States.Davies said he hopes university officials will be able to choose natural gas, or renewable energy, when UAF replaces the power plant again a half-century from now. Share this story:last_img read more

American Medical Association wants to ban drug ads to consumers

first_img @Pharmalot About the Author Reprints Benjamin Stone/Flickr PharmalotAmerican Medical Association wants to ban drug ads to consumers In fact, the AMA plans to convene a task force and launch an advocacy campaign to promote greater affordability for medicines and greater transparency in prescription drug prices. The AMA worries that patients are foregoing needed treatment due to rising costs and limitations on insurance coverage. Tags advertisingAmerican Medical Associationprescription drugs By Ed Silverman Nov. 17, 2015 Reprints Why doctors’ call to ban drug advertising is a dead end In a dramatic step, the American Medical Association is calling for a ban on advertising prescription drugs and medical devices directly to consumers. The move, however, is largely symbolic, because any ban would have to be authorized by Congress.The new AMA policy comes after years of complaints by physicians. Ever since the Food and Drug Administration revised guidelines in 1997 to permit drug firms and medical device manufacturers to use broadcasting advertising, doctors argued some ads too often encourage patients to seek medicines unnecessarily. They also resent the pressure the ads place on them to write prescriptions out of concern patients will switch physicians.Another rationale for the ban, however, is the rising cost of drugs. Doctors have long argued that many of the ads aimed directly at consumers promote more expensive medicines. This, in turn, raises overall health care costs.advertisement Related: Ed Silverman Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. [email protected] The new policy “reflects concerns among physicians about the negative impact of commercially driven promotions, and the role that marketing costs play in fueling escalating drug prices,” said AMA Board Chair-elect Dr. Patrice Harris, in a statement. “Direct-to-consumer advertising also inflates demand for new and more expensive drugs, even when these drugs may not be appropriate.”advertisement The AMA noted that prices on generic and brand-name drugs rose 4.7 percent this year, according to the Altarum Institute Center for Sustainable Health Spending. And the organization also pointed out that advertising dollars spent by drug makers increased by 30 percent in the last two years to $4.5 billion. The organization cited data from Kantar Media, a market research firm.By casting the issue in the context of rising drug prices, the AMA is clearly trying to create as much support as possible for a ban. The cost of pharmaceuticals, after all, is a hot-button issue that has galvanized much of the American public in recent months. The AMA proposal amounts to yet another indication that drug pricing will remain a policy issue for the near-term.Not surprisingly, industry reaction was scathing.One trade group that represents advertisers and marketers argues that a ban would violate free speech rights. “It flies in the face of the First Amendment,” John Kamp, who heads the Coalition for Healthcare Communication, told us. Companies, he explained, have a right to tell “the truth” about their products.He also maintained that patients and caregivers “want and deserve up-to-date information on the availability of drugs. The days of Dr. Kildare being the exclusive source of information about health and medicine have come and gone.”A spokeswoman for the Pharmaceutical Research and Manufacturers of America, the trade group for drug makers, sent us this: “Providing scientifically accurate information to patients so that they are better informed about their health care and treatment options is the goal of direct-to-consumer pharmaceutical advertising about prescription medicines.“Beyond increasing patient awareness of disease and available treatments, DTC advertising has been found to increase awareness of the benefits and risks of new medicines and encourage appropriate use of medicines. In addition, DTC advertising encourages patients to visit their doctors’ offices for important doctor-patient conversations about health that might otherwise not take place.”last_img read more

Sanofi, GSK announce positive early results for their Covid-19 vaccine candidate

first_imgHigh neutralizing antibody levels were generated after a single dose in participants with evidence of prior SARS-CoV-2 infection, which the companies said suggests the vaccine could be given as a booster used after an initial vaccination series.“We believe that this vaccine candidate can make a significant contribution to the ongoing fight against Covid-19 and will move to Phase 3 as soon as possible to meet our goal of making it available before the end of the year,” said Roger Connor, president of GSK Vaccines, said in a statement. The companies also plan to conduct additional studies targeting various variants of concern to see if a lower dose of the Sanofi-GSK vaccine would generate a strong booster response, regardless of the brand of vaccine individuals received in their initial Covid-19 vaccination series.The vaccine is made deploying a system used to make Sanofi’s Flublok, an influenza vaccine. It is what’s known as a recombinant protein vaccine; the SARS-2 spike protein, the target the vaccine uses to teach the immune system to recognize the virus, is generated in insect cells. The vaccine is given with an adjuvant — a compound that boosts the immune response the vaccine generates — that is made by GSK. Sanofi is also working on an mRNA vaccine, partnering with Translate Bio. That vaccine is currently in a Phase 1/2 trial. The company is also using its production capacity to help Moderna, Johnson & Johnson, and BioNTech — Pfizer’s partner — make their Covid-19 vaccines. STAT+: How Covid vaccines are faring against variants, rethinking tubes for ear infections, & tools for a better scoliosis surgery The companies said they will begin producing the vaccine “at risk” — meaning before they are certain it will work. While there is financial uncertainty in that approach, if the vaccine does prove to be efficacious, they will have product ready to distribute as soon as the vaccine is authorized for use. The companies are projecting a possible regulatory approval in the fourth quarter of 2021.The companies released limited information about the results of the trial, saying they will publish the data shortly in a peer-reviewed journal. But they reported the vaccine induced strong rates of neutralizing antibodies, in line with what is seen in people who have recovered from Covid-19. The favorable response was seen across all adult age groups, though there were higher levels observed in people 18 to 59 years old. There were no safety or tolerability concerns arising from the trial.advertisement Ruby Wallau for STAT Exclusive analysis of biopharma, health policy, and the life sciences. 5 pressing questions about the New York Yankees’ breakthrough Covid-19 infections Newsletters Sign up for Daily Recap A roundup of STAT’s top stories of the day. Related: Leave this field empty if you’re human: The Phase 3 trial, which is slated to enroll about 35,000 people in multiple countries, will compare the vaccine to a placebo — a plan that could face challenges as vaccine supplies increase globally. In countries where people can now or will soon be able to be vaccinated, there is little incentive to enroll in a trial where they might be assigned to receive a placebo.The Phase 3 trial will test two vaccine formulations — one targeting the original strain of SARS-2 that emerged in Wuhan, China, in late 2019 and a second targeting the B.1.351 variant, which was first spotted in South Africa. B.1.351 has been shown to have the capacity to evade some of the protection generated by several other vaccines. Helen Branswellcenter_img Related: HealthSanofi, GSK announce positive early results for their Covid-19 vaccine candidate About the Author Reprints Tags Coronaviruspublic healthVaccines Sanofi and GSK announced positive results on Monday from a Phase 2 clinical trial of their joint Covid-19 vaccine, saying it generated strong levels of neutralizing antibodies in recipients across all ages studied. The partners said a large international Phase 3 trial will begin in coming weeks.The duo, two of the world’s largest vaccine manufacturers, is far behind in the effort to produce a Covid vaccine and lock down markets for their product, having suffered a setback in an earlier Phase 1/2 trial last year. But with vaccine supplies expected to trail global need into the foreseeable future, the companies believe there is still a place for their vaccine.“Our Phase 2 data confirm the potential of this vaccine to play a role in addressing this ongoing global public health crisis, as we know multiple vaccines will be needed, especially as variants continue to emerge and the need for effective and booster vaccines, which can be stored at normal temperatures increases,” Thomas Triomphe, executive vice president and head of the vaccines division at Sanofi Pasteur, said in a statement.advertisement Please enter a valid email address. Senior Writer, Infectious Disease Helen covers issues broadly related to infectious diseases, including outbreaks, preparedness, research, and vaccine development. By Helen Branswell May 17, 2021 Reprints Privacy Policy @HelenBranswell Unlike the messenger RNA vaccines made by Pfizer and Moderna, this vaccine does not need an elaborate cold chain for storage and distribution. It is stored at fridge temperature.The companies suffered a disappointing setback last year when their initial Phase 1/2 trial suggested the vaccine wasn’t adequately protective in older adults. It was discovered that the reagents used to determine how much vaccine was in each dose had given false readings, leading to subjects in the trial receiving too little vaccine and forcing the companies to conduct a second Phase 2 trial.last_img read more

In Pictures: Clonenagh NS host wonderful Christmas Show

first_img By LaoisToday Reporter – 19th December 2018 Council Facebook WhatsApp Home Lifestyle In Pictures: Clonenagh NS host wonderful Christmas Show LifestyleOut and About Pinterest Pinterest WhatsApp Clonenagh National School, Mountrath, held their Christmas Show in the Convent Hall recently.The Mountrath Forum very kindly gave the school the hall for the night.It was the most perfect location as it added to the overall theatrical experience for everyone there, as it still has the majestic curtains and vast stage.The audience were treated to a welcoming glass of mulled wine and a mince pie when they came in, from the Clonenagh Parents’ Association.Junior, Senior Infants and First Class performed some lively Christmas tunes and a wonderful rendition of ‘When Santa Got Stuck in the Chimney!’.Second Class to Sixth Class performed “Alas in Blunderland”, a play based on a mixture of fairytales and humour.The audience thoroughly enjoyed the children’s efforts and in turn, they were rewarded with a rapturous applause. #The children finished off the Christmas Show by singing some well known carols. Laois secondary school announces scholarship winners for new academic year TAGSClonenagh National School It was a night that the pupils of Clonenagh National School are sure to never forget.Our photographer Julie Anne Miller went along and grabbed some great pictures: Community RELATED ARTICLESMORE FROM AUTHOR New Arles road opens but disquiet over who was invited to official opening Twitter Previous articleIn Pictures: Portlaoise AFC youngsters visit kids in Portlaoise HospitalNext articleDeaths in Laois – Wednesday, December 18, 2018 LaoisToday Reporter Facebook SEE ALSO – ‘I just can’t understand why lads would not want to hurl for their county,’ Brennan speaks after Carlow defeat Community Twitter Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ In Pictures: Clonenagh NS host wonderful Christmas Showlast_img read more

Canada issues more ultra-long bonds

first_imgJames Langton Catastrophe bond market gains momentum The government said Thursday that the additional issuance of bonds in the ultra-long sector is in line with its commitment “to reallocate short-term bond issuance towards long-term bonds to help reduce refinancing risk and to lock in low funding costs for Canadian taxpayers.” The ultra-long bonds issued by the government mature on December 1, 2064, and carry a yield of 2.575%. Once again, it reports that it received “exceptionally strong demand” for the issue from both domestic and international investors, with 36 individual accounts participating in the deal. This is the second time that an issue that was originally launched in April has been reopened by the government. “I am pleased to announce another successful reopening of Canada’s 50-year long-term bond,” said federal Finance minister, Joe Oliver. “With this transaction, the government continues to deliver on its commitment to secure low-cost funding for Canadians. We have also seen growing diversity in our investor base, which is a testament to Canada’s strong economic and fiscal position and to the flexibility and options associated with Canada’s debt securities program.” The federal government has raised another $1 billion with its third issue of 50-year bonds so far this year. The latest issuance of ultra-long bonds brings the total raised this year through these new debt instruments to $3.5 billion. Keywords Bond Facebook LinkedIn Twittercenter_img When bond ratings slip, investors shrug Related news Share this article and your comments with peers on social media With bond yields low and rising, what is the price of safety?last_img read more

PM and Finance Minister to Discuss IMF Funding Arrangement with Social Partnership Group

first_imgAdvertisements FacebookTwitterWhatsAppEmail Prime Minister the Hon. Bruce Golding and Minister of Finance and the Public Service, Hon. Audley Shaw, will meet with the social partnership group on June 25 to discuss the terms under which the country should enter into a funding arrangement with the International Monetary Fund (IMF).This follows a directive from Cabinet for Government to explore the IMF stand-by facility in order to keep the country’s medium-term economic programme on track. This decision arose from a technical report submitted by Mr. Shaw on the possible need for additional financing through the IMF. The social partnership group comprises representatives from the private sector, trade unions and the opposition.Minister without Portfolio in the Office of the Prime Minister with responsibility for Information and Telecommunications, Hon. Daryl Vaz addressing the Wednesday (June 24) post-Cabinet press briefing at Jamaica House, said that a team from the Ministry of Finance would be going to Washington during the first week of July, following which, an IMF team would visit the island. All discussions emanating from these deliberations will be reviewed by Cabinet toward the end of July.“What (Cabinet) mandated the (Finance) Ministry to do is to continue the exploratory discussions with the IMF. Whether or not we go back to the IMF is all dependent on what comes out in relation to these discussions, in relation to the specific terms, which is what has to be nailed down, so that the Government clearly understands what it would mean to the Government and the people of Jamaica for a return to the IMF,” Mr. Vaz outlined.In his budget presentation last month, Prime Minister Golding said that while the Government was not in a hurry to borrow from the IMF, it must lay the groundwork to cushion the economy.“I am approaching it reluctantly, but if the circumstances require that we do it, we would have to. The reasons why we might have to go back there has to do with our balance of payment…remember that we have lost more than two thirds of our bauxite earnings, and bauxite accounted for 60 per cent of our total earning, that’s a major blow,” he told the House.Mr. Golding, at the time, pointed out that the Net International Reserves (NIR) have been under pressure, and that the Government wanted to be in a position where, if funds from the NIR were being drawn down to the point where a market confidence crisis might occur, a funding facility would be in place. RelatedPM and Finance Minister to Discuss IMF Funding Arrangement with Social Partnership Group RelatedPM and Finance Minister to Discuss IMF Funding Arrangement with Social Partnership Groupcenter_img RelatedPM and Finance Minister to Discuss IMF Funding Arrangement with Social Partnership Group PM and Finance Minister to Discuss IMF Funding Arrangement with Social Partnership Group Finance & Public ServiceJune 24, 2009last_img read more

How broadband and digitization impact global economy

first_imgHow broadband and digitization impact global economy ITUAs the global economy reels from the shock of COVID-19, decisions taken now that impact social and economic recovery and growth will be of the utmost importance for the decade ahead.The ITU report ‘How broadband, digitization and ICT regulation impact the global economy‘ looks at how fixed and mobile broadband as well as digital transformation impact the economy, globally and at regional levels.This report shows how broadband technologies and effective ICT regulation can both help grow national economies and power prosperity. Countries should leverage regulatory frameworks and institutions in accelerating digitization – forging sound ICT policies that maximize economic impact within a simplified institutional structure.At a glance: Key findingsMobile broadband generates a larger economic contribution than fixed broadband, when examined globally.Developing countries benefit more from mobile broadband than industrialized countries.Developed countries with a high penetration of fixed broadband enjoy a greater benefit from technology than developing nations.The economic contribution of digitization is higher in advanced economies than in emerging countries.Digitization contributes significantly to labour and total factor productivity.The development of digitization is driven by institutional and regulatory factors and not only by variables such as economic development.Digitization accelerates when a country introduces structural changes in policy and institutions which are related to digital technologies – after a time lag.Key recommendationsDeveloping countries should accelerate the development of mobile broadband to maximize economic impact.In addition to putting a strong focus on mobile broadband, developing country governments should consider the following concrete steps: Encourage policy and regulatory measures to boost infrastructure deployment in rural and isolated areas – for example the sharing of infrastructure, interconnectivity, and effective use of spectrum. Promote emerging technologies that help provide affordable digital infrastructure and services. Promote mobile broadband infrastructure in remote and rural areas through incentives for the private sector. Stimulate collaboration across private sector firms within your digital ecosystem. Boost mobile broadband affordability of non-adopters through government initiatives that target the most vulnerable populations. Reinforce the impact of economic measures with the promotion of Internet content that is meaningful and relevant to your population – and ensure this is in local languages. Build the digital skills of non-adopters to address digital illiteracy.Developed countries should focus on technologies that accelerate the digitization of production as well as: Promote commercial and investment cases that combine the benefits of telecommunications infrastructure with technologies such as AI, AR/VR to grow infrastructure and ICT demand from enterprises. Use regulatory sandboxes enabling enterprises to test emerging technologies free of regulation. Spectrum allocation and new services. Launch 5G pilot projects to support the design of future spectrum allocations – at the same time stimulating the adoption of new services. Balance new technologies with re-skilling. Recognize that advanced technologies can eliminate jobs – ensure digital skills requirements are identified and retraining put in place. Maintain flexibility on regulatory rules and procedures (for example the use of spectrum) to foster innovation and new technologies. Recognize that building infrastructure is long term and requires long-term policies for predictability and regulatory certainty. Recognize that competition needs to protect consumers, while delivering returns to commercial players making the investment in a balanced way.Get the regional story Related to this report are six regional analyses that offer rich detail and important local insights for Africa, the Americas, Arab States, Asia-Pacific, Commonwealth Independent States (CIS) and Europe.The report lays down important markers as we help reinvent and recast the shape of post-COVID-19 economies worldwide.Learn more about the economic contribution of broadband, digitization and ICT regulation and discover the six regional analyses here.For more ITU Publications on economics and finance, visit /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:affordability, Africa, america, Asia, broadband, building, commonwealth, covid-19, Europe, Government, infrastructure, innovation, Investment, ITU, production, regulation, technologylast_img read more

CMA clears Uber and Autocab deal

first_imgCMA clears Uber and Autocab deal The CMA (Competition and Markets Authority) opened its Phase 1 merger investigation into ride-hailing company Uber’s acquisition of GPC Software Limited (Autocab) in January 2021. Autocab supplies booking and dispatch technology software (BDT) to taxi companies. It also operates a referral network for taxi and private hire operators called iGo, where those companies can send and receive jobs to each other.The investigation considered the deal’s possible effect on competition in the supply of BDT, as well as referral networks, and any potential impact of the merger on taxi companies who are Autocab’s current BDT customers. After thorough scrutiny, the CMA has found that there is only limited indirect competition between Uber and Autocab, and the CMA did not find evidence to indicate that Autocab was likely to become a significant and more direct competitor to Uber in the future.The CMA also considered whether Autocab and Uber could try to put Autocab’s taxi company customers that compete against Uber at a disadvantage by reducing the quality of the BDT software sold to them, or by forcing them to pass on data to Uber. However, the CMA found that there are other credible suppliers of BDT and referral networks that these taxi companies could switch to if Uber were to reduce the quality of the Autocab service or force them to share their data.Joel Bamford, Senior Director of Mergers said:Millions of people across the UK rely on taxis every day and technology has transformed the way this industry works. It is therefore important that mergers like these are properly scrutinised to ensure that customers aren’t negatively affected.After a thorough investigation, the CMA has found no competition concerns as a result of this deal. This is because the companies are not close competitors, the two businesses will continue to face competition from rivals and Autocab’s customer taxi companies can switch to credible alternative providers if they wish. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:acquisition, director, Effect, Force, future, Government, hire, Impact, industry, investigation, jobs, quality, software, technology, Uber, UK, UK Governmentlast_img read more