Export Pessimism – Louth Online http://louthonline.com/ Fri, 11 Jun 2021 05:02:45 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 http://louthonline.com/wp-content/uploads/2021/03/louthonline-icon-70x70.png Export Pessimism – Louth Online http://louthonline.com/ 32 32 China Considered a Military Threat by 88% of Japanese and 72% of South Koreans | Taiwan News http://louthonline.com/china-considered-a-military-threat-by-88-of-japanese-and-72-of-south-koreans-taiwan-news/ http://louthonline.com/china-considered-a-military-threat-by-88-of-japanese-and-72-of-south-koreans-taiwan-news/#respond Wed, 09 Jun 2021 12:25:00 +0000 http://louthonline.com/china-considered-a-military-threat-by-88-of-japanese-and-72-of-south-koreans-taiwan-news/

TAIPEI (Taiwan News) – Almost 90% of Japanese and more than 70% of South Koreans see China’s growing military influence in the region as a threat, according to the results of a joint poll conducted in the two countries last month.

The poll, conducted in Japan by the Yomiuri Shimbun newspaper and in South Korea by Hankook Ilbo, asked adults about the state of Japan-Seoul relations and the ongoing points of contention between the two countries. Respondents were also asked to rate their country’s relations with China, North Korea and the United States.

When asked about their country’s relations with China, 61% of Japanese and 48% of South Koreans said it was “pretty bad”, with 17% of Japanese and 10% of Koreans describing it as “very bad” .

Still, only a minority in either country wants to cut economic ties with China, their biggest common export partner. On this point, 48% of Japanese and 33% of Koreans said “leave it as is”, while 23 and 42% of Japanese and Koreans, respectively, said economic ties with China should be strengthened.

When asked if China’s growing military pressure on East and South China Sea countries poses a threat to their country, 88% of Japanese and 72% of Koreans replied that they thought so.

A smaller majority also said their government should be “in tune” with the United States as Washington ramps up pressure on Beijing over security, diplomatic and human rights disputes. On this question, 59% of Japanese and 64% of Koreans agree.

A large majority in Japan (81%) and South Korea (80%) called Xi Jinping (習近平) “unreliable”, suggesting that the Chinese leader is seen as barely more reliable than North Korean Kim Jong -a.

However, the poll also found that roughly the same number of Japanese and South Koreans regard their respective presidents as suspiciously as President Xi. In addition, more than 80% of both sides believe that their country’s relations with the other are either “rather bad” or very “bad”.

Survey respondents were also asked about the historical issues behind the diplomatic schism between the two nations, including Korean “comfort women” forced into prostitution by the Empire of Japan during World War II. A majority of Japanese (59%) and Koreans (79%) did not think it was necessary to “go further on the issue of historical consciousness” to mend the relationship and expressed the pessimism that it was. ‘would improve in the future, with 73% of Japanese and 58% of Koreans expecting “no change”.

The survey was conducted by landline phone and used the Random Dialing Survey (RDD) method to reach both landline and mobile phones. It collected responses from 1,063 Japanese over 18 from May 21 to 23 and from 1,000 South Korean adults on May 21 and 22.


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WHO adviser expresses pessimism over success of COVID-19 vaccine patent exemption http://louthonline.com/who-adviser-expresses-pessimism-over-success-of-covid-19-vaccine-patent-exemption/ http://louthonline.com/who-adviser-expresses-pessimism-over-success-of-covid-19-vaccine-patent-exemption/#respond Wed, 09 Jun 2021 08:36:49 +0000 http://louthonline.com/who-adviser-expresses-pessimism-over-success-of-covid-19-vaccine-patent-exemption/

Covid-19 vaccine

Plans to grant a patent waiver on COVID-19 vaccines as a way to boost global production, which should be assessed by the World Trade Organization (WTO), are unlikely to materialize given the slow pace of progress and the danger that such a move could remove the incentive for pharmaceutical companies to develop more vaccines, Robert Steffen, professor emeritus of epidemiology at the University of Zurich, told Sputnik.

South Africa and India launched the proposal for a temporary waiver of trade-related aspects of intellectual property rights (TRIPS) late last year, arguing it would help boost vaccine production. , especially in low income countries. The proposal received support from the leaders of the World Health Organization (WHO).

“I am not very optimistic on this issue, not only because the pharmaceutical industry in Switzerland, and elsewhere, does not like it, but also for the good reason that the World Trade Organization is only scheduling this discussion to the end of this year, ”said Steffen, a frequent WHO advisor, on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

The European Commission issued a statement on Friday saying it was “not convinced” that a TRIPS waiver would ensure widespread and rapid delivery of COVID-19 vaccines, and Steffen said suspension of patent protections could deter pharmaceutical companies to further develop their current vaccines. .

“And then, of course, we also have to listen to the whispers of the pharmaceutical industry, which tells us that if it can’t patent a new vaccine, it has no incentive to develop it, and whether such regulation would cripple the production and development of new vaccines would, of course, be very bad, ”Steffen said.

Nonetheless, the University of Zurich epidemiologist said a solution must be found to ensure equitable access to vaccines, especially as low-income countries have only received 0.2% of global doses. COVID-19 vaccine, according to WHO data.

“The situation is totally unsatisfactory. Just in a meeting an hour ago [on Friday] Dr Tedros, Director-General of the World Health Organization, again commented on the tragedy that in low-income countries very often less than 1%, or at most 4-5%, of the population is vaccinated, compared to more than 40% in industrialized countries, ”commented Steffen.

Speaking on Monday, the WHO director general expressed hope that several new manufacturing sites in Africa would be ready to start producing COVID-19 vaccines by the end of the year.

René Awambeng, head of customer relations at the African Import-Export Bank, told Sputnik at SPIEF that the pan-African financial institution was working to support the Pasteur Institute in Senegal to strengthen the production of COVID vaccines. 19, as well as vaccines against other diseases, on the African continent.

This year’s edition of SPIEF was held from June 2-5 in the Russian city of Saint Petersburg. Rossiya Segodnya was an official media partner of the event.

Warning: News Ghana is not responsible for any reports or opinions of contributors posted on the website.

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Indian consumer confidence drops to all-time high, RBI, Auto News, ET Auto poll finds http://louthonline.com/indian-consumer-confidence-drops-to-all-time-high-rbi-auto-news-et-auto-poll-finds/ http://louthonline.com/indian-consumer-confidence-drops-to-all-time-high-rbi-auto-news-et-auto-poll-finds/#respond Sat, 05 Jun 2021 03:15:21 +0000 http://louthonline.com/indian-consumer-confidence-drops-to-all-time-high-rbi-auto-news-et-auto-poll-finds/

Indian consumer confidence is deepening new lows, adding to a string of grim data in an economy crushed by the world’s worst coronavirus outbreak.

The current situation index fell to a record 48.5 in May from 53.1 in March, according to the Reserve Bank of India’s consumer confidence survey, where 100 is the level separating pessimism optimism.

Respondents were also gloomy about the outlook for the coming year, with the Future Expectations Index falling to 96.4 from 108.8 during the period under review, the RBI said.

“Household spending also weakened in the latest survey,” according to the RBI, which cited consumer concerns about the economic situation and job prospects. Even essential spending “showed signs of moderation while non-essential spending continued to contract.”

Indian consumer confidence drops to all-time high, RBI survey finds

This is bad news for an economy primarily driven by consumption, with high-frequency indicators gradually showing weakness in everything from retail activity to road congestion and demand for electricity to electricity. rising unemployment levels.

Another survey indicated that inflation expectations were well entrenched, adding to the challenge for monetary policy makers who halted interest rates more than a year ago due to the gains in price growth. Since then, persistent underlying price pressures have kept rate-setters from resuming easing, including during their last meeting which ended on Friday.

The median perception of household inflation for the current period jumped 150 basis points to 10.2% while three-month inflation expectations rose 70 basis points to 10.8%, compared to the March 2021 investigation, the RBI said. One-year median inflation expectations also remained high at 10.9%.


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Indian consumer confidence drops to all-time high, RBI, Retail News, ET Retail poll finds http://louthonline.com/indian-consumer-confidence-drops-to-all-time-high-rbi-retail-news-et-retail-poll-finds/ http://louthonline.com/indian-consumer-confidence-drops-to-all-time-high-rbi-retail-news-et-retail-poll-finds/#respond Sat, 05 Jun 2021 02:31:17 +0000 http://louthonline.com/indian-consumer-confidence-drops-to-all-time-high-rbi-retail-news-et-retail-poll-finds/

(Representative image)

Indian consumer confidence is deepening new lows, adding to a string of grim data in an economy crushed by the world’s worst coronavirus outbreak.

The current situation index fell to a record 48.5 in May from 53.1 in March, according to the Reserve Bank of India’s consumer confidence survey, where 100 is the level separating pessimism optimism.

Respondents were also gloomy about the outlook for the coming year, with the Future Expectations Index falling to 96.4 from 108.8 during the period under review, the RBI said.

“Household spending also weakened in the latest survey,” according to the RBI, which cited consumer concerns about the economic situation and job prospects. Even essential spending “showed signs of moderating while non-essential spending continued to contract.”

Indian consumer confidence drops to all-time high, RBI survey finds

This is bad news for an economy primarily driven by consumption, with high-frequency indicators gradually showing weakness in everything from retail activity to road congestion and electricity demand to electricity. rising unemployment levels.

Another survey indicated that inflation expectations were well anchored, adding to the challenge for monetary policy makers who halted interest rates more than a year ago due to the gains in price growth. Since then, persistent underlying price pressures have kept rate-setters from resuming easing, including during their last meeting which ended on Friday.

The median perception of household inflation for the current period jumped 150 basis points to 10.2% while three-month inflation expectations rose 70 basis points to 10.8%, compared to the March 2021 investigation, the RBI said. One-year median inflation expectations also remained high at 10.9%.


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Colorado traffic deaths increased 12% in 2021 http://louthonline.com/colorado-traffic-deaths-increased-12-in-2021/ http://louthonline.com/colorado-traffic-deaths-increased-12-in-2021/#respond Thu, 03 Jun 2021 11:28:44 +0000 http://louthonline.com/colorado-traffic-deaths-increased-12-in-2021/

So far this year, 193 Colorado residents have been on the road – and never made it home.

Colorado traffic fatalities on the rise

According to the Colorado Department of Transportation, the 193 road fatalities in Colorado represent a 12% increase over the same period last year.

In 2020, a total of 612 people, including pedestrians, were killed on Colorado roads. The CDOT indicates that 365 of them were in passenger vehicles and that more than half were not cordoned off at the time of the accident. This means that up to 203 Coloradians could still be alive today if they had only buckled up. Just think of all the Colorado family members who have faced the tragedy of losing a loved one in a traffic accident.

El Paso County recorded the highest number of fatalities on unlooped roads with 25, followed by Weld County with 23 and Arapahoe County with 20.

Click on it or Ticket

Each year, the CDOT and state law enforcement engage in safety campaigns to encourage Colorado residents to wear their seat belts. The current “Click It or Ticket” campaign runs through this weekend. The next application period will take place during the first week of August.

The National Highway Safety Administration says seat belts reduce the risk of injury or death by 50% in a crash. Despite these numbers, only 86% of Coloradans buckle up when taking this route. This figure is 4% lower than the national average of 90% for seat belt compliance.

Colorado Seat Belt Laws

Colorado has seat belt laws, but these are secondary enforcement laws for adult drivers and front passengers. This means that drivers can be fined for not wearing their seat belts if they are pulled over for another traffic violation. Fines for seat belt violations start at $ 65.

On the other hand, the seat belt law is a primary application when it comes to teenagers. Colorado drivers under the age of 18 and their passengers, regardless of age, are required to wear seat belts.

Seat belts save lives

For many people, like me, wearing a seat belt is a natural thing to do. We’ve been buckling up for so many years now that we have been doing it out of habit and it feels really weird not wearing a seat belt. Of course, automakers have helped increase seat belt compliance with that annoying ringing noise you hear until your seat belt is buckled. Some vehicles won’t even let you drive past unless you are strapped in.

Wearing a seat belt is such an easy thing to do, yet it is the very thing that could save you from serious injury or death if you were ever involved in an accident. More than 200 Colorado residents thought it would never happen to them – but it does, and now it’s too late.

With more traffic on the road during the summer months, the danger is greater than ever. Let this remind you to always wear your seat belt – and make sure your passengers are buckled up as well. No one wants to be the next death statistic.

LOOK: See how much gasoline cost the year you started driving

To learn more about how the price of gasoline has changed over the years, Stacker has calculated the figures for the cost of a gallon of gasoline for each of the past 84 years. Using data from the Bureau of Labor Statistics (released April 2020), we analyzed the average price of a gallon of regular unleaded gasoline from 1976 to 2020 as well as the Consumer Price Index (CPI ) for regular unleaded gasoline from 1937 to 1976, including absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gasoline over time and rediscover how bad a gallon was when you first started driving.


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At the Gates releases dark new song ‘The Paradox’ http://louthonline.com/at-the-gates-releases-dark-new-song-the-paradox/ http://louthonline.com/at-the-gates-releases-dark-new-song-the-paradox/#respond Fri, 28 May 2021 11:53:52 +0000 http://louthonline.com/at-the-gates-releases-dark-new-song-the-paradox/

A little over a month after the release of The nightmare of being, melodic death metal icons At the Gates made their debut with the new track “The Paradox”.

The grim new song is the second single to be released from the record and follows the equally grim “Specter of Extinction”. Both tracks appear at the top of the 10-track album and it’s clear that At the Gates is navigating new sonic territory through their latest pair of singles, emphasizing an extremely loathsome vibe, even using some elements. choir in the last offering.

Listen to “The Paradox” towards the bottom of the page and also read the lyrics (via Genius) below.

  • PLAYLIST: Early Death Metal: The First 15 Years – Includes 150 songs from At the Gates and many more. Follow here.

“The general theme deals with the subject of pessimism, and I have delved deep into pessimistic philosophers,” previously said leader Tomas Lindberg, whom we interviewed about also being a teacher, of the themes The nightmare of being.

“Trying to understand this way of seeing the world. It’s not a negative album, but rather a gateway to new ideas for me personally, trying different perspectives. You could call the album an introduction to pessimism as a concept, I guess. It’s a very dark album, but not negative, ”he continued.

The nightmare of being releases July 2 on Century Media. Pre-order your copy here.

At the Gates, “The Paradox” Lyrics

Wonderful, tangled and dark dreams
Coiled in the corners of life
Hallucinations, etched in our bones
Futile and monotonous lives

The circle of poison, eye to eye
As our madness is black
Spectral hi, unfolding
Through labyrinthine nights

To carry those dead notes
As we look into the abyss
Our ruin, twisted and black
In the hungry void

Dehumanization of our art and culture
Parent of horrors to be
Humanity is nothing but flesh conscious of itself
The triumph of our own deception

The structures they are collapsing now
The first liturgy
Black with the scars of madness
We hide in our crypts

Through mad winds of terror
Dreams are disturbed
In the pulse after the heavenly pulse
Older than darkness, unknown colors
In the abyss of death

Heroic dreams now trampled on
By figures dressed in rust-colored dresses
An illuminated region
Into the nuclear dawn

The structures they are collapsing now
The feverish liturgy
Black with the scars of madness
We hide in our crypts

And as all hope turns to black
In the dreamless night
As all hope turns black
Of pessimism and paradox

No hope – all black
No hope – all black

And as all hope turns to black
In the dreamless night
As all hope turns black
Of pessimism and paradox

Of pessimism and paradox
Of pessimism and paradox

At the gates, “The paradox”

Best Metal Songs of 2021 (So Far)

Loudwire’s picks for the best metal songs of 2021 to date.


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California drought silver lining for selected crops http://louthonline.com/california-drought-silver-lining-for-selected-crops/ http://louthonline.com/california-drought-silver-lining-for-selected-crops/#respond Thu, 27 May 2021 07:00:00 +0000 http://louthonline.com/california-drought-silver-lining-for-selected-crops/

Australia | 11:25 a.m.

Beyond the current low in prices and earnings that led to the horrific, though unsurprisingly first-half result of Select Harvests, brokers remain confident that a multi-year cyclical recovery in almond prices is imminent.

-Management’s pessimism on almond prices is linked to the increase in Californian production
-Citi predicts an average almond price of $ 7.05 / kg in FY 22
-Wilsons expects almond segment profits to decline from -7 to 45%

By Mark Story

Watching the embers of what was arguably a dismal semester for Select Harvests, the management of the fruit and nut grower attempted to put a brave face to the result by reassuring shareholders that tree health remains good with strong vegetative growth. in 2021 and a high head load.

Select Harvests operates a diverse portfolio of almond orchards, as well as a state-of-the-art processing facility in Carina, Victoria and value-added processing in Thomastown, Victoria.

At first glance, the result of Select’s first half was the story of two diametrically different stories. First, the good news: In line with the underlying sustained improvements in yields over several years, the company’s almond harvest increased by 21% for the six months ending March 31, 2021, resulting in a total revenue increase of 37.4% to $ 84.8 million.

Helped by delayed sales from the second half of 2020, operating cash flow of $ 4.7 million also improved significantly from the prior period.

However, due to falling world almond prices – down -20% to $ 6.00 / kg – and higher production costs, the company’s net profit fell by -93% from $ 17.4 million to $ 1.3 million. Almonds’ profits of $ 3.1 million fell -89% and were -74% lower than Wilsons forecast.

In comments accompanying the first half result, management expects low price levels for its main product, almonds, for the remainder of 2021.

Hollow prices and incomes

Much of management’s pessimism about future almond prices relates to an expected increase in production in California, which is largely responsible for pricing. After a record California harvest in 2020, the USDA’s subjective estimate of almonds points to another significant harvest this year. As a result, almond prices in US dollars are expected to fall -5% in FY21 and -4% in FY22.

Select predicts that the second half of 2021 will be broadly consistent with the first half of 2021 based on an almond pool price of $ 6.00 / kg.

However, Wilsons notes that a significant deterioration in seasonal conditions, coupled with any flow of negative news about the California crop, could significantly alter the price forecast for almonds.

Beyond FY21, Citi continues to remain constructive on the outlook for kernel prices. Much of the broker’s multi-year cyclical recovery in the outlook for world almond prices is based on weaker California supply.

Despite the increased production expected by the USDA this year, the broker remains aligned with the prevailing industry sentiment that worsening drought and water supplies in California will affect crop yields. With 75% of the state currently in extreme drought and 26% in exceptional drought, the broker believes conditions are likely to impact 2021 crop yields.

Citi expects U.S. almond prices to rise due to lower supply, with continued strength in export demand seen in calendar year 2021 reaching US $ 2.32 / lb or slightly below pre-covid levels.

However, Bell Potter reminds investors that over the past decade, USDA’s U.S. crop estimates have averaged 98 percent accuracy. The broker also notes that the new 66,000-acre plantings have exceeded the 48,000-acre deletions, implying that there is still a tail of crop growth in subsequent years.

Meanwhile, the weaker H1 2021 result and FY 21 average kernel price results in a $ 19 million (-40%) reduction in Citi’s FY 21 profit forecast. But the broker predicts an average kernel price of $ 7.05 / kg for Select in FY22, which the broker says will mark FY21 in retrospect as a low in both price and profits.

Citi notes, an average almond price of $ 6.00 / kg for fiscal year 21 – on the back of the record 3.1 billion pounds. The 2020 U.S. almond harvest, along with disruption in the covid market – will be the lowest price since 2012.

As a result of the lower than expected average kernel price and the resulting greater operational deleveraging, Citi lowered its FY21 profit by -40%. Based on a slightly lower kernel price in FY22, a lower water saving benefit and a higher horticultural cost assumption, the broker also expects a decrease in profits for fiscal years 22 and 23 by -17% and -5% respectively.

Robust results

Due primarily to the lower kernel price assumptions in FY21 and FY22, as well as a slightly higher cost of production, Wilsons also expects Kernel segment profit to decline by -7-45%. But with improved food profits and lower depreciation and amortization partially offsetting Almond’s lower profits, the broker expects group profits (EBIT) to decline by 0-44%.

However, beyond the half-year result, Wilsons is encouraged by an increase in profits in the food segment, which, in the broker’s opinion, is proof of the first benefits of Select’s strategic review. As a result, the broker continues to view the risk / reward equation as skewed upward.

Aided by the reclassification of parts of the Food segment as a discontinued business, food revenues of $ 5.7 million increased significantly from the previous period, while company costs decreased by -26% due to reduced employee payments and discretionary spending.

Broker reminds investors that over key factors Select has some control, including crop yield and cost of production, the company continues to deliver robust results as these continue to compare well to the past seven years .


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9 things the chip shortage has made rare – or expensive http://louthonline.com/9-things-the-chip-shortage-has-made-rare-or-expensive/ http://louthonline.com/9-things-the-chip-shortage-has-made-rare-or-expensive/#respond Wed, 26 May 2021 10:00:36 +0000 http://louthonline.com/9-things-the-chip-shortage-has-made-rare-or-expensive/

Bloomberg

Pipelines rocked when ‘flashing red’ hack alert went off in 2012

(Bloomberg) – Ten years ago, after hackers were caught infiltrating pipeline operations and an Al Qaeda video emerged calling for an “electronic jihad” on US infrastructure , Senator Joseph Lieberman tried to sound the alarm. “Flashing red,” Lieberman warned his Senate colleagues during the 2012 threat debate. “Private and exploited cyber infrastructure may well be, and will likely someday be, the target of an enemy attack.” Led by independent Connecticut and the sole running mate, lawmakers have sought to demand energy companies to tighten up IT security. But the effort faded under fierce lobbying from oil companies and other corporate interests who managed to kill the legislation. This left a system of voluntary guidelines in place that failed to stop last month’s ransomware attack on Colonial Pipeline Co., which crippled a major fuel artery along the East Coast. Kasowitz Benson Torres LLP. “The attack on the colonial pipeline might not have happened if we had passed the legislation.” Now, in response to the attack, the Department of Homeland Security is preparing to abandon the voluntary approach and impose cybersecurity requirements on pipelines, according to a familiar person. with the plans asking not to be identified until an official announcement, which would be a defeat for oil companies and pipeline operators who, for more than a decade, have successfully battled federal standards to thwart cyber attacks legislation or regulatory agencies. Unlike power plants, US pipelines are not required to meet federal cybersecurity mandates, although Homeland Security was given the power to enforce them when it was created in the aftermath of the September 11, 2001 attacks. protecting the nation’s pipelines, will issue a directive this week requiring pipeline companies to report cyber incidents, according to the person familiar with the plans. “The Biden administration is taking new steps to better secure critical infrastructure in our country,” DHS said in a statement Tuesday. “We will release further details in the coming days.” Until now, the TSA had resisted using its authority to impose cyber protection measures. in many cases minimum safety standards and the industry was doing more than that, ”said Jack Fox, who was responsible for the agency’s pipeline safety before retiring in 2016. The Bill Lieberman reportedly imposed cybersecurity performance requirements on private critical infrastructure – and fines on companies that failed. The rules would have been applied to more than just pipelines: sectors where a hostile dismantling of computer systems could lead to massive losses, collapse of financial markets or disruption of energy and water supplies had to be included. This version of the bill failed to overcome a Republican-led filibuster. Pipeline companies For Lieberman, failure is still stinging. “We would kind of ask ourselves who is causing this aggressive opposition and the response we were getting was the energy companies and the pipeline companies. “, Did he declare. All major US oil companies – including Exxon Mobil Corp., Chevron Corp. and ConocoPhillips – lobbied the legislation, alongside some refiners and at least one pipeline operator. Colonial did not press the measure in 2012, according to disclosure forms it filed with Congress. However, groups he belonged to, including the American Petroleum Institute, the Association of Oil Pipe Lines and the Chamber of Commerce – a political titan who said he spent $ 103.9 million to influence government policies in 2012 Calling it an overly broad and harsh regulatory approach that threatened to create an “adversarial” relationship between government and the private sector instead of fostering collaboration against cyber attacks. The group supported an alternative approach focused on greater sharing of threat intelligence, a position it continues to support today. “We are supporting a public-private collaboration that strengthens our cybersecurity in all sectors, including pipelines, for the benefit of all Americans,” said Matthew Eggers, vice president of the House’s cybersecurity policy. Cyber ​​security and government officials have warned for years about the consequences of a pipeline hack, including in 2019 when the Office of the Director of National Intelligence released a report warning that a cyber attack could disrupt a pipeline. for days or weeks. Nonetheless, there was general corporate opposition to the Lieberman Bill, with nearly every industry affected, from financial services to communications, getting involved to warn the proposed cybersecurity mandates would put the government’s heavy hand in the affairs of companies. the promoters warned that the warrants were essential to ensure the existence of sufficient collateral. amid a barrage of increasingly sophisticated attacks on private companies operating power plants, dams and other critical infrastructure.Al-Qaeda VideoWeeks after the bill was introduced, the Security Ministry Interior warned that hackers had spent months trying to infiltrate computer systems operating the gas pipelines. ABC News reported that the FBI obtained a video from Al Qaeda calling for “electronic jihad” against US critical infrastructure. And the computer security company McAfee Corp. warned of coordinated and ongoing cyber attacks against global energy companies in 2011 Hacking episodes have heralded just how attractive fuel delivery systems are to cybercriminals, such as the Russia-linked group that used DarkSide ransomware to contain Colonial’s computer systems. held hostage around May 7. The company was forced to shut down its approximately 5,500-mile-long (8,851-kilometer) pipeline system, which supplies about 45 percent of the fuel used on the East Coast, causing outages at gas stations and the payment of a ransom of $ 5 million before resuming service five days later. It is not known whether the warrants would have thwarted the attack, and investigations are still ongoing. Colonial is committed to “consider any proposal that draws lessons from this event that strengthens or hardens our infrastructure.” Oil and pipeline trade groups firmly insist the time is not for prescriptive federal mandates. a full understanding of the details surrounding the colonial attack, ”said Suzanne Lemieux, Operations Security and Emergency Response Manager at API. “But we are determined to continue our strong coordination with all levels of government.” The trade association added in a statement that it was generally aligned with the House on the issue in 2012 and warned of a universal prescriptive regulatory approach that John Stoody, a spokesperson for the Association of Oil Pipe Lines , whose members include Colonial Pipeline, said, “We want TSA to do whatever it plans to do.” “For example, too broad a reporting requirement could overwhelm TSA with hundreds of thousands of reports of cyber attacks every day that would do no one any good,” he said. And Exxon noted that the rapid evolution of cyber threats means that “all formal and prescriptive cybersecurity requirements for the industry are often exceeded when completed.” The Transportation Security Administration has long taken a similar approach. A branch manager in the agency’s surface operations office boasted last year that this involved “very few regulations” and a “cooperative approach to industry adoption of security measures.” according to a presentation archived on the agency’s website. “A regulation takes months or years to change,” Fox said in a telephone interview. “With this partnership, we could make a phone call and say we need you to do this or that and we would respond to it the next day.” Republican FilibusterFox said he didn’t think Bill Lieberman would have prevented the colonial cyberattack. You can regulate whatever you want, ”Fox said. “We have regulations on speed limits and gun control and all kinds of things, so if you regulate something, that doesn’t mean it won’t happen.” Eventually, in 2012, Lieberman and Collins watered down their bill in a desperate attempt to win over Republicans. to get it through. They ditched warrants and fines in favor of a measure that would only create optional requirements, but even the reduced bill was not enough. Persistent liability and privacy concerns haunted the legislation, and the House also opposed the new version. He was twice beaten by a Republican-led filibuster, ultimately losing nine out of the 60 votes needed to interrupt the debate in November 2012. Amy Myers Jaffe, professor at Tufts University and author of “Energy’s Digital Future The colonial cyberattack could be a reference to the Gulf of Mexico oil well that exploded in 2010, killing 11 workers and triggering the worst oil spill in US history. for contributing to the disaster, Jaffe said. “It’s shocking to me to think that an industry that likes to brag about its safety performance would ever have lobbied against the adoption of mandatory government standards for cybersecurity in vital energy infrastructure.” More articles like this are available on Bloomberg. Subscribe now to stay ahead with the most trusted source of business news. © 2021 Bloomberg LP


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CANADA STOCKS-TSX opens higher on energy stocks surge http://louthonline.com/canada-stocks-tsx-opens-higher-on-energy-stocks-surge/ http://louthonline.com/canada-stocks-tsx-opens-higher-on-energy-stocks-surge/#respond Tue, 25 May 2021 13:46:18 +0000 http://louthonline.com/canada-stocks-tsx-opens-higher-on-energy-stocks-surge/

Bloomberg

Chinese companies’ listing boom in the US suddenly comes to a halt

(Bloomberg) – At least three Chinese companies have suspended their plans to list in the United States, announcing a slowdown in what was a record start to the year for initial public offerings by companies on the mainland and in Hong Kong. , a podcaster and cloud computing company are among popular Chinese companies refusing to launch an American float, discouraged by recent market declines, souring investor sentiment towards fast-growing companies and poor debuts by peers like Waterdrop Inc. Inc. and Qiniu Ltd. are postponing their investor order-taking plans, even though the three had filed documents with the Securities and Exchange Commission more than two weeks ago. In the United States, companies can launch roadshows two weeks after public filing and more often than not stick to that schedule. The recent massive sell-off in the market, combined with the correction in the IPO market since early last month, when some new issuers are debuting, may make market conditions less predictable for new entrants who are “physically” loans – meaning they’ve cleared all the regulatory hurdles for the IPO – to come out the door, ”said Stephanie Tang, head of private equity for Greater China at law firm Hogan Lovells. “Some participants may choose to watch the market for more stable conditions.” The delays put the brakes on a flood of Chinese and Hong Kong business listings in the United States which have already reached $ 7.1 billion since the start of the year – the fastest pace on record. – after exploding in 2020. IPO demand surged as a wave of global stimulus funds, ultra-low interest rates and rising stock markets attracted investors despite Sino tensions- and the continued risk of mainland equities withdrawing from the US stock markets. The S&P 500 Index capped its biggest two-week drop since February on Friday, as investors increasingly fear inflation and its impact on tech and growth stocks. China’s CSI 300 index remains in a technical correction, after falling 10% from its February high, while the Nasdaq Golden Dragon China index, which tracks Chinese companies listed in the United States, fell by more than 30% from its peak this month. , which offers a bike-sharing platform and electric scooters for sale, has delayed its planned launch and remains undecided on its potential valuation given growing investors’ caution over new stocks, Bloomberg News reported. He had planned to raise between $ 500 million and $ 1 billion in the offer, although the final number will depend on evaluations, according to a person with knowledge of the matter. their announcements were put on hold after they started gauging investor interest at the end of April, people with knowledge of the matter said, asking not to be identified as the information is not public. comes after the filing of an IPO and before the formal order taking at a roadshow. Hello declined to comment while Qiniu did not immediately respond to an email request for comment. Ximalaya’s IPO process is underway and the company will seek to be publicly traded at the appropriate time depending on market conditions, he said in response to questions. Weak beginnings The poor performance of recent Chinese debutants also undermined investor confidence. Insurance tech firm Waterdrop has plunged 38% from its offering price since going public earlier this month. Onion Global Ltd., a lifestyle brand platform, fell more than 8% below its IPO price. Bloomberg shows, among them, the two largest IPOs – electronic cigarette maker RLX Technology Inc. and online question-and-answer site Zhihu Inc. Of those that were listed in 2020, only 40% are trading in below their IPO prices. has also scared American companies. They have also delayed floats or faced weak beginnings. For some, the current challenges facing Chinese listing candidates are likely to be transitory, with the much-anticipated IPO of giant Didi Chuxing Inc., which has filed a confidential multibillion-dollar bid, intended to prove the real test of investor appetite for Chinese history, apart from Hello and the two other companies reportedly delaying IPO plans after the launch of their pre-commercialization process, the Chinese road freight platform ForU Worldwide Inc., which submitted an offer in the United States on May 13, and the online education company Zhangmen Education Inc., who filed on May 19, are waiting behind the scenes although they have not yet passed the two-week deadline. strong growth in China in which international investors will always want to invest for the longer term, ”said Gary Dugan, Managing Director of the Global CIO Office in Singapore. -last paragraph.) More stories like this are available at bloomberg.com Subscribe now to stay ahead with the most trusted source of business news. © 2021 Bloomberg LP


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Oil prices post slight gain as traders watch Iran nuclear talks http://louthonline.com/oil-prices-post-slight-gain-as-traders-watch-iran-nuclear-talks/ http://louthonline.com/oil-prices-post-slight-gain-as-traders-watch-iran-nuclear-talks/#respond Tue, 25 May 2021 12:14:00 +0000 http://louthonline.com/oil-prices-post-slight-gain-as-traders-watch-iran-nuclear-talks/

Oil futures posted a modest gain on Tuesday, with US prices holding their highest level in about a week, as traders kept tabs on developments in negotiations to revive the Iran nuclear deal .

Prices “remain at high levels as the peak oil demand season approaches and restrictions are lifted across much of Europe and the United States,” said Louise Dickson, oil markets analyst at Rystad Energy, in a market update.

The oil market has “factored in the last bits of pessimism from traders, coming from the prospect of a nuclear deal with Iran, which will allow the sanctions-hit country to export more oil, adding to the supply. global, ”she said.

“However, the bearish fumes of the prospect of a nuclear deal with Iran may have run their course, as the reality of an additional million bpd or more has gradually been taken into account since officials Diplomatic began to meet in Vienna this year, ”Dickson said.

Crude West Texas Intermediate for delivery in July CL00,
-0.38%

CLN21,
-0.36%
rose 2 cents, or 0.03%, to $ 66.07 a barrel on the New York Mercantile Exchange. First-month contract prices rose for a third straight session and ended at their highest since May 17, according to Dow Jones Market Data.

First month of July Brent BRNN21,
-0.29%
tacked on 19 cents, or 0.3%, at $ 68.65 a barrel on ICE Futures Europe. Brent August Brent BRN00,
-0.29%

BRNQ21,
-0.29%,
the most actively traded contract, added 12 cents, or 0.2%, to $ 68.49 a barrel.

Crude ended sharply higher on Monday as doubts emerged over the timing of any deal that would see the United States revert to the nuclear deal and lift sanctions on Iran, which would allow the country’s crude exports to come back to the market. US Secretary of State Antony Blinken said on Sunday that the United States has yet to see whether Iran is “ready and willing to make the decision to do what it needs to do” for the sanctions to be lifted. .

Iran agreed this weekend to extend a deal allowing the International Atomic Energy Agency to monitor its nuclear program for an additional month, but the window of opportunity for a deal ahead of Iran’s presidential elections in June seems too small, said Eugen Weinberg, analyst at Commerzbank. , in a note.

Despite Tuesday’s softer tone in the crude oil market, bullish analysts said the market is likely to take a comeback in Iranian barrels in the wake and continue to cut production cuts by the Organization of the Exporting Countries. of oil and its allies, known together as OPEC +. The group of producers will hold their next one on June 1st.

A possible deal with Iran is seen “as a global risk rather than an overhaul of physical balances,” said Michael Tran, analyst at RBC Capital Markets.

Between the deal with Iran and the OPEC + reduction schedule, “the two politically motivated bearish hurdles are being lifted, and the market may return to focusing on oil demand,” the cycle ahead and more quantifiable factors that can be modeled, ”he said.

Back to Nymex, the June contract for RBM21 gasoline,
-0.28%
slightly decreased by 0.02% to $ 2.12 per gallon and June HOM21 fuel oil
-0.23%
threw 0.3% to nearly $ 2.04 a gallon.

June NGM21 natural gas,
+ 0.79%,
which expires at the end of Wednesday’s session, stands at $ 2.91 per million British thermal units, up 0.9%.

The U.S. Energy Information Administration will release its oil supply data on Wednesday, covering the week ending May 21. On average, analysts polled by S&P Global Platts predict a drop of 2.2 million barrels of US crude inventories, as well as a drop in supply of 700,000 barrels of gasoline and 1.6 million barrels of distillates .


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