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Macron Seeks New ‘Progressive’ Coalition For 2019 European Elections

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By Georgi Gotev

(EurActiv) — French President Emmanuel Macron wants to shake up the EU political ecosystem, hoping to forge a new progressive alliance at the end of this year for the 2019 European Parliament elections, a source in his office said on Wednesday (5 September).

France’s Europhile leader is seeking to build a loose, pan-European campaign of like-minded progressives to hold back the tide of anti-immigrant nationalists.

“The idea is to make a coalition that brings progressives together around a joint platform transcending well-structured existing political families,” a source at the Élysée presidential palace said, as quoted by Reuters.

“We are at an important moment for Europe where we’ve got to rebuild ourselves because the nationalists won’t hesitate to rebuild themselves. So we must not remain prisoners of political badges,” the source added.

Campaigning for the 23 and 26 May election is likely to get under way in earnest early next year, which means the joint platform has to be thrashed out “around December-January”, the source said.

Manfred Weber said on Wednesday he would seek nomination as the European Peoples’ Party’s lead candidate for the election with the aim of taking over as president of the European Commission.

Meanwhile, Macron has been active in reaching out to possible allies around Europe for a campaign confounding traditional party moulds, much as he did in his successful bid for the French presidency in 2017.

The Élysée source downplayed the importance of having a lead candidate to embody the new political movement, saying that was not voters’ priority.

“What they want to see is five or six themes that the candidates want to make happen in Europe and that they are able to do it. That’s what we’re going to work on,” the source said.

*Odd man out*

In fact, Macron hasn’t decided to join any of the existing political families, and hasn’t attempted to create his own group either. The Spitzenkandidaten system is therefore a game in which he cannot participate.

The Spitzenkandidaten process was first used in the 2014 election, when Commission President Jean-Claude Juncker was appointed.

The Lisbon Treaty stipulates that the European Council, acting by a qualified majority, nominates a Commission president for the European Parliament’s approval while taking into account the results of the European Parliament election.

The EU Treaty does not make any reference to the Spitzenkandidaten procedure. In 2014, it was used following a “gentlemen’s agreement” among EU leaders. However, German Chancellor Angela Merkel had initially expressed concerns.

The term “progressives” favoured by Macron is already in use by the group of Socialists and Democrats in the European Parliament, whose official Twitter handle is even @TheProgressives.

Christophe Castaner, who acts as spokesperson to the French government, recently told a gathering of Frenchmen in Brussels that the Spitzenkandidaten system was a “democratic anomaly”.

The French president is possibly attempting to repeat his national experience at European level: breaking the political mould and creating a dominant force in which politicians both from the centre left and the centre right are in command.

This strategy has weakened the French traditional centre-left and centre-right.

*Macronists of all countries, unite!*

Some new political forces in EU countries have declared themselves close to Macron’s “En Marche!”.

And while Macron is trying the change the rules of the game by trying to rally pro-European forces, anti-EU forces are getting organised as well. A clash between “Macronists” and supporters of the Spitzenkandidaten system risks to play in the hands of the anti-immigrant, anti-EU and anti-system forces. Reported by Eurasia Review 3 hours ago.

Cornwall is the SECOND poorest region in all of northern Europe

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Cornwall is the SECOND poorest region in all of northern Europe Cornwall receives more economic aid from the EU than any other part of the UK Reported by Cornish Guardian 3 hours ago.

KOKUYO to Open Limited-time Pop-up Store of 'THINK OF THINGS' in London's Shoreditch District

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KOKUYO to Open Limited-time Pop-up Store of 'THINK OF THINGS' in London's Shoreditch District TOKYO, Sept. 7, 2018 /PRNewswire/ -- KOKUYO Co., Ltd. will run a pop-up store of its Tokyo-based lifestyle shop & cafe "THINK OF THINGS" in the Shoreditch district, east London, Britain, from October 3 to 14.

(Image: https://kyodonewsprwire.jp/release/201809057613?p=images)

THINK OF THINGS is a foothold for KOKUYO, engaged in businesses targeting mainly corporations, such as production and sale of stationary and office furniture and configuration of office space, to repeat business experiments, proposals and verifications through points of direct contact with ordinary citizens. Holding out the concept of "Going beyond the border between work and life," THINK OF THINGS proposes tools and experiences that provide inspirations and discoveries for one's life and work.

Since its opening in May 2017, THINK OF THINGS has received more feedback than expected not only from Japan but from many customers, media organizations and retailers in the United States, Europe and Asia as it has been offering KOKUYO's long-selling products and THINK OF THINGS' original products, and actively sharing cultural content using conceptual space. KOKUYO is considering launching pop-up shops in the United States, Europe and Asia with the aim of verifying the possibility of the brand's reputation spreading throughout the world.

In London, the first venue for the THINK OF THINGS project overseas, a small-scale event space will be leased in the Shoreditch district to sell mainly original and selected KOKUYO products in the space design reflecting the concept. The company is focusing on the fact that Shoreditch is an area where start-up companies and creators such as designers and artists are gathering to pursue new workstyles and lifestyles while linking business and creativity together. While sensing common traits between Shoreditch and Tokyo's Sendagaya district, home to THINK OF THINGS in Japan, KOKUYO will take this opportunity to confirm and verify responses to THINK OF THINGS' proposals in Shoreditch, which is gaining attention from around the world for being a more active and sensitive district, with a view to overseas expansion in the future.

OUTLINE
Opening days: Oct. 3 (Wed) - 14 (Sun), 2018
Operating hours: 11:00 - 18:00 (Mon - Sat); 11:00 - 17:00 (Sun)
Venue: IN-HOUSE (67 Redchurch Street, London E2 7DJ)
Floor space: about 10 square meters
Website: http://www.think-of-things.com

View original content:http://www.prnewswire.com/news-releases/kokuyo-to-open-limited-time-pop-up-store-of-think-of-things-in-londons-shoreditch-district-300708688.html

Related Links :

http://www.think-of-things.com Reported by PR Newswire Asia 3 hours ago.

Fast Europe Open: Germany trade, UK house prices

Meeting Of Russian And German Leaders Confirms Their Desire For Dialogue And Cooperation – Analysis

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Russian President Vladimir Putin and Federal Chancellor of Germany Angela Merkel held talks at Meseberg residence for the honorary guests on August 18, where they discussed a number of topical issues, including situation in Syria, Iranian nuclear dossier, settlement of Ukrainian conflict and Nord Stream-2 gas pipeline project.

According to Angela Merkel, the meeting became a continuation of the conversation that took place between the leaders of the two states three months earlier in Sochi.

“I believe that disputable issues can be resolved through dialogue, and this is why I am very happy to welcome Mr. Putin,” German Chancellor said prior to the talks.

After the meeting, some foreign media reported on the rapprochement between Europe and Moscow.

“It was the Russian president’s first one-on-one meeting on the home turf of his most implacable European opponent since relations froze in 2014 after his annexation of Crimea. If not a breakthrough, it was at least a thawing of the ice,” says Bloomberg article titled Europe Is Warming Up to Putin.

Commenting on the results of the talks, Patrick Sensburg, German MP from the CDU/CSU fraction, stressed the depth of the dialogue.

“The meeting between Russian President Vladimir Putin and German Chancellor Angela Merkel last Saturday in Meseberg was a continuation of the discussion in the Black Sea resort of Sochi in May – therefore the conversations were intensively deepened. Of course, one important topic was the stabilization of Syria. In this context it has been discussed that the preparations for an exchange between Germany, France, Turkey and Russia are being promoted,” the politician told PenzaNews.

Both Moscow and Berlin have a responsibility when it comes to international conflicts such as those in Syria, he said.

“It is always important to stay in dialogue, because it is the only way to achieve rapprochement in conflicts,” Patrick Sensburg noted, adding that “nations have to talk to each other,” especially when the situation is particularly difficult.

He also stressed that Russia is an indispensable player regarding to solve major conflicts.

“Germany has a strong interest in good relations with Russia and therefore will continue to seek dialogue,” he said.

In turn, Jonathan Stern, Distinguished Research Fellow and Founder, Natural Gas Research Programme, Oxford Institute for Energy Studies, drew particular attention to the discussion of the Nord Stream-2 gas pipeline project.

“Possibly the meeting between Putin and Merkel can be important for the Nord Stream-2 gas pipeline project but we won’t know that until we see whether and how the trilateral negotiations on Ukrainian transit of Russian gas progress,” the British analyst said.

In his opinion, there won’t be a quick start of this project.

“At least one line of Nord Stream-2 will be built but even this first will not be operational until at least mid or late 2020. It has become a political issue which will need a political solution,” Jonathan Stern explained and added that the meeting won’t change the political atmosphere between Russia and Germany.

Meanwhile, Roberto Castaldi, Research Director of International Centre for European and global governance, Director of the Research Centre on Multi-Level Integration and Governance Processes at eCampus University, noted that the relationship between Russia and Europe are still at a low point.

“There are common trade interests, but diverging geopolitical interests from Ukraine to Syria. [European] public opinion is worried by alleged Russian interference in the democratic processes in many countries and by the murder attempt of a former Russia spy in the UK. However, the fact that Trump is such an erratic President creates an incentive for Europeans to talk with anybody else,” the expert said.

From his point of view, the meeting in Meseberg was very important.

“It signaled Germany’s willingness to consider Russia an indispensable interlocutor on many international crises and issues, beside the trade and economic aspect,” Roberto Castaldi stressed and added that in the past Germany was among the countries more keen on anti-Russian economic sanctions.

“I don’t expect any rapid or dramatic change in the relationship between the EU countries and Russia. But they all have an interest in keeping an open dialogue though,” the analyst said.

Meanwhile, according to him, the position of some EU political parties on relations with Moscow will not be able to provide practical efforts to review anti-Russian sanctions.

“Unless there is a real implementation of the Minsk agreement in Ukraine a significant improvement of the relationship is unlikely. The idea that the Italian, Austrian and Hungarian governments can change the overall European position is based on an overstatement of their influence and ability to work together and build coalitions in the EU,” Roberto Castaldi added.

In turn, William Courtney, former US Ambassador to Georgia and Kazakhstan, Adjunct Senior Fellow at RAND, shared the opinion that Russian relations with Europe, as well as America, are more strained than ever.

“Europeans see the annexation of Crimea, and war in eastern Ukraine as a direct affront to European values. In the European view, this aggression contravenes the post-World War II security order in Europe, which opposes the use of coercion to seize territory from another country. Europeans are upset that Russia denies responsibility for shooting down Malaysian Airlines flight 17 over occupied eastern Ukraine in 2014, and for poisoning Sergey Skripal and his daughter and for the death of British bystander Dawn Burgess earlier this year,” the analyst described the situation.

He reminded that Russian and Germany are the two most populous countries in Europe, which are central to some of the major issues that affect Europe.

At the same time, William Courtney suggested that the meeting may not change the political atmosphere between the two countries unless progress was made on specific issues, and called the Ukraine issue the most important one.

From his point of view, “Europe is determined to maintain sanctions on Russia” until it changes its policies, including with regard to Syria – however, the progress on this issue “may be no more than modest.”

Meanwhile, Pal Steigan, Norwegian politician, publisher, writer, independent entrepreneur in the field of culture and information technology, shared the opinion that the relations between Moscow and Brussels are absolutely not productive and this runs counter to both European and Russian interests.

“The abnormal sanctions regime which was installed by the US was in fact given as an order from Washington to reluctant European allies, former vice president Joe Biden boasted in a speech in 2014. This regime has destroyed European jobs in the hundreds of thousands and harmed industry and agriculture both in Europe and in Russia,” the politician explained.

However, the fact that the meeting was held is a small positive sign, he believes.

“Germany is the second biggest exporter in the world. German industry has lost jobs, incomes and future opportunities by the sanctions regime. German exporters have long been pleading for a change. Also Ms Merkel has come to understand that when the US says America first, it is also directed against Europe and Germany,” Pal Steigan said.

At the same time, in his opinion, Russia is an ideal economic partner for Germany.

“The energy and investment possibilities of Russia combined with the excellence of German industry is a strong combination,” he stressed and added that it will take time for potential changes in relations between countries.

“Also the Helsinki meeting between Trump and Putin gave some hopes for détente, but almost nothing has happened so far. Of course Merkel doesn’t have the same opposition on the home front, but she has the so called ally over the Atlantic to consider. Will she be allowed to make a new version of the Rapallo Treaty of 1922?” Pal Steigan said, pointing out that the general international development works for rapprochement between Russia and Germany.

“The BRICS+ meeting in Johannesburg, the accord between Russia, China and Iran on economic development, the de-dollarisation of global economy and the Chinese Belt and Road Initiative all work for a multipolar world in which the US no longer has a veto,” the politician concluded.

Source: https://penzanews.ru/en/analysis/65646-2018 Reported by Eurasia Review 3 hours ago.

‘Chicken and egg’ electric cars spark debate about battery charging

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Carmakers and e-mobility advocates continue to be at odds over whether lack of choice of electric vehicles or lack of charging infrastructure is the main thing holding Europe back from embracing a transport revolution. A new study insists that there are chargers-a-plenty already. Reported by EurActiv 2 hours ago.

Forex Today: Aussie sold-off into fresh trade tensions, eyes on Eurozone GDP, US payrolls

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Forex today was mainly driven by broad-based risk-aversion, triggered by the overnight comments from the US President Trump, suggesting that Japan is the next line of fire amidst ongoing US-Sino trade row. Safe-havens such as US dollar, the Yen and gold were boosted at the expense of the higher-yielding/ risk assets such as the Antipodeans, Asian equities, copper and oil prices.

The Aussie was the worst hit by risk-aversion, knocked-off almost near 2018 lows of 0.7143. Meanwhile, the USD/JPY pair tumbled to 110.40 before recovering to 110.60 towards Asia closing. The Canadian dollar also picked up some strength on Trump’s upbeat remarks on the NAFTA deal, having dragged USD/CAD down to 1.3115 level.

*Main topics in Asia*

Trump possibly turning an eye towards Japan - WSJ

As reported by the Wall Street Journal, US President Donald Trump may be gearing up to get into another trade row amidst a deepening trade war with China, this time with Japan, as noted by a reporter for the WSJ who received a phone call from the US president.

Fed Evans: Fed likely to push rates beyond 'neutral' - Reuters

According to Reuters, Chicago Federal Reserve head Charles Evans, one of the more hawkish Fed presidents, suggested that the US will likely have to lift rates above the neutral rate to keep inflation in check.

China threatens UK trade talks on warship sail-by - Reuters

As reported by Reuters, China's state-run media outlets are taking warning shots at the United Kingdom regarding trade talks after a British warship made a sail-by in contested waters in the South China Sea.

Canada Official: It’s unlikely a Nafta deal to be agreed to this week

Bloomberg quoted a Canadian government official, as saying that a North Atlantic Free Trade Agreement (NAFTA) deal is unlikely to be reached to this week.

Trump: ‘We're in a little bit of a skirmish with China, but doing well’

While addressing a rally in Billings, Montana last minutes, the US President Donald Trump noted that “we're in a little bit of a skirmish with China, but doing well”.

Trump says believe Canada will be a part of the NAFTA - Source

An unnamed source out of Washington cites that the US President Trump said that he believes Canada will be a part of the North Atlantic Free Trade Agreement (NAFTA).

Source: Japan ministries seek record $930 billion budget for fiscal 2019 - Reuters

Reuters cited a Japanese government official with the direct knowledge of the matter, noting that the budget requests from Japan’s government offices have hit a record $930 billion for the next fiscal year starting in April.

Japan’s Aso: No comment regarding Trump remarks on US-Japan trade

Japanese Finance Minister Taro Aso is on the wires now, via Reuters, declining to comments on Trump’s overnight remarks that probably sparked US-Japan row.

Gold Technical Analysis: Hourly MAs adopting bull bias, focus on dollar index

The bullish crossover between the 50-hour and 100-hour moving averages (MAs) adds credence to higher highs charted by gold from the Sep. 4 low of $1,189 and the upside break of the falling trendline.

*Key Focus ahead*

We are heading into a busy calendar that will wrap up a fairly eventful week. Ahead of the EU open, the German industrial production and trade figures will be closely eyed after June’s awful readings. Both the German data will be reported at 0600 GMT. In Europe, the final GDP numbers from the Euroland will headline amid a couple of second-liner UK macro updates. The UK sees the Halifax house prices and consumer inflation expectations gauge at 0730 GMT and 0830 GMT respectively.

Moving on, the NA session offers the key US payrolls and earnings data which will emerge as the main event risk for today. Also, in focus will be the Canadian jobs report amid the NAFTA talks deadline. Oil traders will await the Bakers and Hughes US oil rig count data for fresh impetus on oil prices.

EUR/USD: Trade tensions could keep gains under check ahead of US NFP release

A big beat on the wage growth figure would reinforce hawkish Fed expectations, driving the US dollar higher across the board. The Eurozone second-quarter GDP, due for release at 09:00 GMT, could also move the EUR pairs.

GBP/USD on pause just above 1.29 ahead of Friday's US NFP

The GBP/USD is heading into a dense Friday trading tightly just above the 1.2900 handle, and Sterling traders will be bracing for a London market session that will be seeing potential knock-on volatility from a top-tier GDP reading for the European Union.

Nonfarm Payrolls preview: too much trouble somewhere else

The US *Nonfarm Payrolls* report will be out this Friday, as usual, at 12.30 GMT. The government jobs' report is expected to show that the US economy added 191,000 new jobs in August.

How to trade the US Non-Farm Payrolls with EUR/USD

The US NFP is one of the most market-moving events, and wages remain in the limelight. The Market Impact Tool shows trading opportunities in both upside and downside surprises on this event.

Canadian jobs preview: Key point for CAD at a sensitive timing

Canada publishes the labor market report for August on September 7th, at 12:30 GMT. The level of employment is a major market mover everywhere, and also in Canada, it has a significant effect on the value of the Canadian Dollar.

  Reported by FXstreet.com 2 hours ago.

France, Benelux to propose EU aid for Africa in return for migrant help

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France and the three Benelux countries on Thursday (6 September) launched a plan to offer EU funds to African countries in return for help stemming the flow of migrants to Europe. Reported by EurActiv 2 hours ago.

Friend wants Connacht to buck trend against Zebre

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Connacht won their first 15 games against Zebre in the league and Europe but have gone down on the last three occasions they have met. Reported by RTE.ie 2 hours ago.

Governments Default On Debt More Than You Think – OpEd

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Governments Default On Debt More Than You Think – OpEd By Daniel Lacalle*

In this era of monetary fiction, one tends to read all types of undocumented and misguided views on monetary policy. However, if there is one that really is infuriating: MMT science fiction.

One of its main principles is based on a fallacy: “A country with monetary sovereignty can issue all the debt it needs without default risk.”

First, it is untrue. A report by David Beers at the Bank Of Canada has identified 27 sovereigns involved in local currency defaults between 1960 and 2016 (database here).

(source: Bank of Canada, David Beers)

David Beers explains: “A long-held view by some investors is that governments rarely default on local or domestic currency sovereign debt. After all, they say, governments can service these obligations by printing money, which in turn can reduce the real burden of debt through inflation and dramatically so in cases like Germany in the 1923 and Yugoslavia in 1993-94. Of course, it’s true that high inflation can be a form of de facto default on local currency debt. Still, contractual defaults and restructurings occur and are more common than is often supposed.”

No, a country with monetary sovereignty cannot issue all the debt it needs without default risk. It needs to issue in foreign currency precisely because few trust their monetary policies. Most local citizens are the first ones to avoid the domestic currency exposure and buy US dollars, gold or (now) cryptocurrencies, fearing the inevitable.

Most governments will try to cover their fiscal and trade imbalances by devaluing and making all savers poorer.

“A country with monetary sovereignty can issue all the currency it needs” is also a fallacy.

Monetary sovereignty is not something government decides. Confidence and use of a fiat currency is not dictated by government nor does it give said government the power to do what it wants with monetary policies.

There are 152 fiat currencies that have failed due to excess inflation. Their average lifespan was 24.6 years and the median lifespan was 7 years. In fact, 82 of these currencies lasted less than a decade and 15 of them lasted less than 1 year.

Given that the world of currencies is a relative one, the average citizen of the world will prefer gold, cryptocurrencies, US dollars, or Euros and Yen despite their own imbalances rather than their own currencies.

Why is this? When governments and central banks worldwide try to implement the same mistaken monetary policy of the US and Europe or Japan but without their investment security, institutions and capital freedom, then they fall into their own trap. They weaken their own citizens’ trust in the purchasing power of the currency.

The MMT answer would be that all that is needed then is stable and trustworthy institutions. Well, it does not work then either. The first crack in that trust is precisely the currency manipulation needed to finance bloated government spending. The average citizen may not understand monetary debasement, but certainly understands that their currency is not a valid reserve of value or payment system. The value of the currency is not dictated by the government, but by the latest purchase agreements made with such means of payment.

(source World Bank, Deutsche Bank)

Governments always see economic cycles as a problem of lack of demand that they need to “stimulate.” They see debt and asset bubbles as small “collateral damages” worth assuming in the quest for inflation. And crises become more frequent while debt soars and recoveries are weaker.

The imbalances of the US, Eurozone or Japan are also evident in the weak productivity growth, high debt, and diminishing effectiveness of policies (read “Monetary Stimulus Does Not Work, The Evidence Is In“).

(source IIF, BIS)

Countries don’t borrow in foreign currency because they are dumb or ignore MMT science fiction, but because savers don’t want government currency debasement risk, no matter what yield. The first ones that avoid domestic currency debt tend to be domestic savers and investors, precisely because they understand the history of purchasing power destruction of their governments’ own monetary policies.

Some 48% of the world’s $30T in cross-border loans are priced in US dollars, up from 40% a decade ago, according to the Bank of International Settlements. Again, not because countries are stupid and don’t want to issue in local currency. Because there is little real demand.

As such, governments cannot unilaterally decide to issue “all the debt they need in local currency” precisely because of the widespread lack of confidence in the central bank or the governments’ perverse incentive to devalue at will.

As reserves dry up, and citizens see that their government is destroying purchasing power of the currency, the local savers read their minister’s talk about “economic war” and “foreign interference,” but they know what really happens. Monetary imbalances are soaring. And they run away.

*Inflation Is not Solved with (More) Taxation*

Many MMT proponents solve this equation of inflation caused by monetary excess by denying that inflation is always a monetary phenomenon, and that inflation can be solved by taxation. Is it not fantastic?

The government benefits the first from new money creation, massively increases its imbalances and blames inflation on the last recipients of the new money created: savers and the private sector. Then it “solves” the inflation created by government by taxing citizens again. Inflation is taxation without legislation, as Milton Friedman said.

First, the government policy makes a transfer of wealth from savers to the political sector, and then it increases taxes to “solve” inflation it created. It’s double taxation.

How did that work in Argentina? That is exactly what governments implemented, only to destroy the currency, create more inflation and send the economy to stagflation (See more here).

These two factors, inflation and high taxation, negatively impact competitiveness and ease to attract capital, invest and create jobs. This relegates a nation of enormous potential, such as Argentina, to the final positions of the World Economic Forum index, when it should be at the top.

Excessive inflation and high taxes are two almost identical factors that hide an excessive public expenditure that has acted as a brake on economic activity, since it is not considered as a service to facilitate economic activity, but as an end in itself. The consolidated public expenditure reached 47.9% of GDP in 2016, a figure that is clearly disproportionate. Even if we consider primary public expenditure, that is, excluding the cost of debt, it doubled between 2002 and 2017.

The idea that a country’s debt is not a liability but simply an asset that will be absorbed by savers no matter what, is incorrect as it does not consider three factors.

1. No debt is an asset because government says so, but because there is real demand for it. The government does not decide the demand for that bond or credit instrument, the savers do. And savings are not unlimited, hence deficit spending is not endless either.
2. No debt instrument is an attractive asset if it is imposed onto savers through repression. Even if the government imposes the confiscation of savings to cover its imbalances, the capital flight intensifies. it is like making a human body stop breathing in order to conserve oxygen.
3. That debt is simply impossible to assume when the investor and saver knows that government will destroy purchasing power at any cost to benefit from “inflating its way out of debt.” The reaction is immediate.

The Socialist idea that governments artificially creating money will not cause inflation, because the supply of money will rise in tandem with supply and demand of goods and services, is simply science fiction.

The government does not have a better or more accurate understanding of the needs and demand for goods and services or the productive capacity of the economy. In fact it has all the incentives to overspend and transfer its inefficiencies to everyone else.

As such, like any perverse incentive under the so-called “stimulate internal demand” fallacy, the government simply creates larger monetary imbalances to disguise the fiscal deficit created by spending and lending without real economic return.  Creating massive inflation, economic stagnation as productivity collapses and impoverishing everyone.

The reality is that currency strength and real long-term demand for bonds are the ultimate signs of the health of a monetary system. When everyone tries to play the Fed without the US economic freedom and institutions, they only play the fool. Monetary illusion may delay the inevitable, a crisis, but it happens faster and harder if imbalances are ignored.

However, when it fails, the MMT crowd will tell you that it was not done properly. And that it is YOU, not they, who do not understand what money is.

Originally published by DLacalle.com

*
About the author:
*Daniel Lacalle* has a PhD in Economics and is author of Escape from the Central Bank Trap, Life In The Financial Markets and The Energy World Is Flat.

*Source:*
This article was published by the MISES Institute. Reported by Eurasia Review 2 hours ago.

Germany’s ‘strategic reserves’ for coal under fire in EU Council

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A group of seven countries – comprising France, Poland, Italy, Hungary, Greece, Ireland and the UK – have issued a common position on the reform of Europe’s electricity market, saying “strategic reserves” for electricity should not receive favourable treatment from regulators. Reported by EurActiv 2 hours ago.

Infosys and Temasek Announce Joint Venture in Singapore

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Infosys and Temasek Announce Joint Venture in Singapore SINGAPORE, Sept. 7, 2018 /PRNewswire/ --

New entity to support Temasek's Digital Transformation Journey  

Infosys (NYSE: INFY), a global leader in consulting, technology and next-generation services, today announced the formation of a joint venture with Temasek, the global investment company headquartered in Singapore. The joint venture will integrate teams from Infosys and the operations of Temasek's wholly owned subsidiary in Singapore, Trusted Source Pte Ltd ("Trusted Source" or the "joint venture"), which currently delivers IT services to Temasek and a number of other clients.

As part of the transaction, Infosys will acquire a 60% stake in the joint venture and Temasek will hold 40%. The agreement was signed by the parties last night and is effective immediately.  

Infosys and Temasek see important synergy and strategic alignment in the joint venture. Infosys gains significant capacity in terms of workforce as it focuses on strengthening its footprint in Southeast Asia, while Temasek will see a rapid enhancement of its IT services through the augmented capabilities of the joint venture entity. Trusted Source will provide Temasek and its other clients in the region solutions and technologies across Cloud, Data & Analytics, Cybersecurity, Digital Experiences and AI & automation, and more.

The joint venture will support Temasek's digital transformation journey, managing a complex Cloud migration program that will enable Temasek to host its applications on a cloud platform.

Infosys and Temasek have named Shveta Arora, Vice President at Infosys, as Chief Executive Officer. The joint venture will be headquartered in Singapore, and more than 200 employees and contractors from Trusted Source will be part of it on establishment, in addition to Infosys staff who will join over time.

In line with Infosys' commitment to invest in advanced technologies and skills for its workforce, employees of the joint venture will have access to the company's world class education and training capabilities that will enable them to provide excellent professional services and have rewarding career paths.  

*Mohit Joshi, President**, Infosys**,* said, "Infosys will leverage its digital skills, learning capabilities and transformation experience to help enhance operations across Temasek's global business. Our joint venture with Temasek will accelerate our efforts in the region, enhancing our existing presence, as we help clients navigate the next journey in their business transformation. This development is a key element of our continued efforts to invest and have a presence in the regions in which we operate."

*Jon Allaway, Chief Technology Officer, Temasek*, said "We warmly welcome the opportunity to build this joint venture with Infosys, and provide those who support our business, at Trusted Source, the ability to further develop their careers with one of the world's leading technology service providers. The partnership will also help unlock new capabilities and technology platforms that help Temasek as the organization continues our growth as a Singapore-headquartered investor, with a global presence."

*About Temasek * 

Incorporated in 1974, Temasek is a global investment company headquartered in Singapore.  

Supported by a network of international offices in 11 locations in Asia, Americas and Europe, Temasek is the owner of a US$235 billion (S$308 billion) portfolio as at 31 March 2018, with two thirds underlying exposure to Singapore and the rest of Asia. Its investment activities are guided by four key themes and the long term trends they represent:

· Transforming Economies;
· Growing Middle Income Populations;
· Deepening Comparative Advantages; and
· Emerging Champions.

Temasek has offices in Singapore; and in New York, San Francisco, Washington D.C., Sao Paulo and Mexico City in the Americas; London in Europe; Beijing and Shanghai in China; Mumbai in India; and Hanoi in Vietnam.

For more information on Temasek, please visit http://www.temasek.com.sg. Connect with Temasek on social media: Facebook (Temasek); Twitter (@Temasek); Instagram (@temasekseen); LinkedIn (Temasek) and YouTube (Temasek Digital)

*About Infosys* 

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit http://www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2018. These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that the date of this press release is mentioned at the beginning of the release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.

Related Links :

http://www.infosys.com Reported by PR Newswire Asia 2 hours ago.

Tethered To The US Financial System – Analysis

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Tethered To The US Financial System – Analysis US interest-rate hikes put the Turkish lira and the currencies of other emerging economies in peril, and the United States may not be a good role model.

By Will Hickey*

The lira has collapsed after Turkey borrowed foreign currency, namely US dollars, at low interest rates to fund increasing economic expansion. Such borrowing, an example of what Berkeley economist Barry Eichengreen has called “original sin,” works fine until conditions derail economic patterns – in Turkey’s case, the US Federal Reserve increasing interest rates. As of this writing, the currencies of not only Turkey, but also Argentina, India and Indonesia continue on a volatile slope, pointing largely downward due to US rate increases.

Pundits are quick to point out that Turkey’s currency woes are not spreading, yet other countries do confront similar challenges. More so, fund managers reduce exposure to all emerging market assets as a matter of course, as one bad apple can spoil the whole basket: Emerging economies must raise interest rates, contain domestic debt, rein in inflation and more.

Economists must consider the social ramifications of what they preach. Turkey has many features of so-called vibrant economies: an entrepreneurial mindset, a youthful population with a median age of 30, social media usage, internet penetration greater than 50 percent, and an export-oriented mindset along with a Blue Oceans strategy. Turks are also a large part of new business formation and innovation in Europe, with more than 4 million in Germany and 1 million in France, doing the jobs many Europeans don’t want to do. Further, Turkey has absorbed the brunt of refugees from Syria, sheltering more than 3 million, and helped refugees from as far away as Myanmar. Overall, Turks display what economist John Maynard Keynes called “animal spirits,” engaging in investment even during times of uncertainty. Not being an EU member, not being shackled to stifling Brussels dictates, may be a blessing in disguise for Turkey.

Still, Turkey has problems, some unpalatable for Western analysts. Foremost, Turkey shares borders with conflict-ridden Syria, Iran and Iraq, not to mention a thriving Kurdish insurrection in Anatolia. Easy foreign money has created a false housing boom that enriched a few while many Turks struggle economically. An increasingly authoritarian leader disrupts freedom of the press and speech and blocks social media. Turkey’s conflicts with the Kurds, about 20 percent of the country’s population, has led to accusations of human rights violations. Even so, when the dollar is removed from the equation, Turkey has much to offer investors over the long term, perhaps even more than some developed Western countries with plateaued markets.

Turkey has been among the world’s biggest booming economies during the past 15 years. No country can fake economic growth for 15 years. Turkey’s President Recep Tayyip Erdoğan faces market pressures, and issues such as tension with Washington over an imprisoned US pastor, tit-for-tat tariffs or a religious leader hiding out in the United States are sideshows, distracting from Turkey’s economic complexities.

Surrender to the US dollar is often the only game in town for many emerging economies. Currencies ultimately are linked to the dollar, and even the euro, pound and Japanese yen are kept “range-bound” by their respective central banks – meaning that they fluctuate within a band. For example, the Korean won rarely deviates below 1000 or above 1200 won per dollar to protect the export industry from instability. This is similar with other Asian currencies, such as the Singapore dollar, ranging from $1.30 to 1.50 per US dollar.

However, the US economy depends on a mind-boggling national debt overhang, approaching $22 trillion, and a widening current account trade deficit – with more imports than exports to most countries, not just China. Also, the country has an overheated housing market, growing public indebtedness of mandatory entitlements of Social Security and Medicare, not to mention an overextended military policing much of the world on borrowed money.

Other countries being told to reform their economies have similar problems. By using the US dollar as a borrowing currency, other countries also import US economic policy. But the United States, as the world’s largest economy with a reserve currency, can resist adopting others’ policies.

Orthodox economic wisdom suggests that the United States can continue to run large trade deficits as it has the potential to “grow” itself out of debt with innovation, productivity and its status accounting for 60 percent of global currency reserves. Other countries do not have these advantages. Other economies are advised to rely on dollar pegs and fixed exchange rate such as the Hong Kong/US dollar or outright dollarization of an economy as in Ecuador. These arguments are growing old as the United States confronts its own social and political problems including inequality, automation replacing jobs, subsidies and the debt burden.

Other countries exhibiting dollar fatigue are in the same boat as Turkey and should not be judged on dollar scarcity alone. Venezuela has a politically tested population lean and hungry for change. Iran wants to develop its fossil fuel deposits and has cheap, youthful labor. India has a huge market potential ripe for expansion. Russia has vast tracts of land in need of development to feed other booming populations, including those in nearby China. Indonesia, an island nation, offers significant infrastructure and development opportunities, and Argentina has vast natural and agrarian resources.

The global economy should not rise and fall based on one apex factor of dollarization, not when the dollar is flawed. Countries will seek alternatives. such as Zimbabwe with “dollar bonds,” or Venezuela and Russia with cryptocurrency backed by oil – though for the latter, the response is mostly to vast oil exports, crude oil priced in dollars worldwide and US sanctions.

In the information age, entrepreneurship and innovation are increasingly becoming real currency, more so than any devalued fiat money, with nothing behind it in many cases except a printing press. Logically, countries may then ask if it is necessary to continue borrowing in foreign currencies and instead seek domestic advantages via restructured institutions.

In the 21^st century, societies must consider what they can offer and how these opportunities can be monetized. Emerging economies want to free themselves from hanging on every US Federal Reserve interest hike or inflation worry. Countries must start restructuring their own economies to utilize and institutionalize these advantages. For all countries, in particular those seeking to escape the middle-income trap such as Turkey, China, Argentina and Indonesia, upgrading their labor markets to promote domestic demand and value-added activity, as opposed to dependence on raw commodity exports or low value-added manufactured goods, is a consistent theme.

There is no free lunch. Reliance on US dollars to kick domestic problems down the road can quickly turn into a double edged sword in a world of rising US rates. Just ask Turkey.

**Will Hickey* is a Visiting ASEAN Professor with Guangdong University of Foreign Studies, Canton, China. He is also author of Energy and Human Resource Development in Developing Countries: Towards Effective Localization, Macmillan, 2017.  Reported by Eurasia Review 1 hour ago.

Passengers fall ill on two flights from Europe to Philadelphia

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By Dan Whitcomb (Reuters) - Passengers and crew on two flights arriving in Philadelphia from Europe on Thursday were screened by medical teams after 12 people aboard became ill with flu-like symptoms, a day after a similar outbreak on a flight from Dubai to New York. All 250 people on separate American Airlines flights from Munich and Paris were "held for a medical review" as a precaution, and the U.S. Centers for Disease Control and Prevention (CDC) was notified, Philadelphia International Airport spokeswoman Diane Gerace said. Reported by Firstpost 2 hours ago.

Global Laboratory Information Systems (LIS) Market Will Reach USD 2.9 Billion By 2024: Zion Market Research

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According to the report, global laboratory information systems (LIS) market was valued at approximately USD 1.5 billion in 2017 and is expected to generate revenue of around USD 2.9 billion by end of 2024, growing at a CAGR of around 9.3% between 2018 and 2024.

New York, NY, Sept. 07, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled *“Laboratory Information Systems (LIS) Market by Component (Service, Hardware, and Software), by Delivery Mode (Cloud-Based and On-Premises Delivery Mode), and by End-User (Clinics, Hospitals, Independent Laboratories, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”*. According to the report, global laboratory information systems (LIS) market was valued at approximately USD 1.5 billion in 2017 and is expected to generate revenue of around USD 2.9 billion by end of 2024, growing at a CAGR of around 9.3% between 2018 and 2024.

Increasing the dependability of software and cloud-based solutions in the healthcare industry along with trending healthcare management solutions is estimated to accelerate the growth of laboratory information systems (LIS) market over the estimated time.

*Browse through 54 Tables & 26 Figures spread over 110 Pages and in-depth TOC on “Global Laboratory Information Systems (LIS) Market Size, Share, Growth Analysis Report Forecast, 2017 – 2024”.*

*Request Free Sample Report of Global Laboratory Information Systems (LIS) Market Report @* https://www.zionmarketresearch.com/sample/laboratory-information-systems-market

Laboratory information systems (LIS) market is mainly driven by its prominent characteristics which include enhanced productivity, reduced diagnostic errors, and précised and quality diagnosis which has increased consumer satisfaction. Furthermore, laboratory information systems market is driven by the upsurge demand of digital platform to maintain, store, and retrieve data in real time through various interfaces of the large patient pool. Additionally, improved features of the laboratory information systems (LIS) services which include innovative and efficient analytic tools that provide a solution to the complex healthcare problems increases the overall productivity and satisfaction. These factors are estimated to propel the laboratory information systems (LIS) market in the near future. However, lack of trained professionals and the high cost of the system are acting as hurdles for the laboratory information systems (LIS) market and it is expected that these factors may affect the market growth in the long term also. Nonetheless, significant investment by the government in laboratory information systems (LIS) to provide more advanced & improved version of the system coupled with the growing requirement for customized system embedded with data security features are likely to disclose the new avenues for the market.

The global laboratory information systems market is divided into components, delivery mode, and the end user. On the basis of the component, the market is divided into services, hardware, and software. By component, the service segment is estimated to hold the prominent market value share and software segment is expected to show the highest CAGR growth. 

*Download Free Report PDF Brochure: *https://www.zionmarketresearch.com/requestbrochure/laboratory-information-systems-market

Based on delivery mode, the laboratory information system (LIS) market is segmented into cloud-based and on-premises delivery mode. By delivery mode, the on-premise segment is estimated to hold the largest market value share because of the increasing demand for the customized systems embedded with enhanced security features. 

On the basis of the end user, the laboratory information system (LIS) market is segregated into hospitals, clinics, independent laboratories, and others. By end user, the hospital segment is estimated to cover the largest market value share and independent laboratories are expected to show a significant CAGR growth.

*Request for Discount on This Report: *https://www.zionmarketresearch.com/requestdiscount/laboratory-information-systems-market

In the laboratory information systems (LIS) market, North America is anticipated to cover the prominent market value share over the estimated time. The U.S. is by far the leading laboratory information systems (LIS) market by country in North America. The U.S. market is anticipated to grow with significant CAGR over the near future. Increasing digitalization dependency along with the significant investments by the government in healthcare IT solutions is supporting the growth of laboratory information systems (LIS) market in North America.

North America is anticipated to be followed by Europe and is expected to show a significant growth in the near future. This growth is mainly driven by the increasing demand for enhanced productivity, reduced diagnostic errors, and précised and quality diagnosis.

Browse the full *"Laboratory Information Systems (LIS) Market by Component (Service, Hardware, and Software), by Delivery Mode (Cloud-Based and On-Premises Delivery Mode), and by End-User (Clinics, Hospitals, Independent Laboratories, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" *report at https://www.zionmarketresearch.com/report/laboratory-information-systems-market

The Asia Pacific is expected to accelerate with a significant growth rate in the near future. Developing and developed countries of the Asia Pacific such as India, China, and Japan are expected to show significant growth in the laboratory information systems (LIS) market. Growth in Asia Pacific market is supported by the upsurge need for a more reliable platform for record maintenance of large patient pool which, in turn, has resulted in the adoption of an advanced platform for the storage of laboratory information systems (LIS).

*Inquire more about this report before purchase @ *https://www.zionmarketresearch.com/inquiry/laboratory-information-systems-market

The Middle East & Africa region is anticipated to register low to moderate growth rate due to low per capita income which results in the lack of accessibility to the laboratory information systems (LIS). Latin America is another prominent region witnessing moderate growth in laboratory information systems (LIS) market.

Some of the key players in laboratory information systems (LIS) market include Medical Information Technology, LabWare, Cerner Corp., McKesson, CompuGroup Medical, SCC Soft Computer, Evident, Epic Systems Corporation, Sunquest Information Systems Inc., and others.

*Request customized copy of report @ *https://www.zionmarketresearch.com/custom/2180

*This report segments the global laboratory information systems (LIS) market as follows:*

*Global Laboratory Information Systems (LIS) Market: By Components*

· Service
· Hardware
· Software 

*Global Laboratory Information Systems (LIS) Market: By Delivery Mode*

· Cloud-Based
· On-Premises Delivery Mode

*Global Laboratory Information Systems (LIS) Market: By End User*

· Clinics
· Hospitals
· Independent Laboratories
· Others

*Global Laboratory Information Systems (LIS) Market: By Region*

· North America

· The U.S.

· Europe

· UK
· France
· Germany

· Asia Pacific

· China
· Japan
· India

· Latin America

· Brazil

· The Middle East and Africa

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*Blog: *http://zmrblog.com Reported by GlobeNewswire 1 hour ago.

Intershop and Microsoft Strengthen Partnership to Drive Retail Commerce Transformation

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DGAP-News: Intershop Communications AG / Key word(s): Miscellaneous

07.09.2018 / 08:56
The issuer is solely responsible for the content of this announcement.
--------------------

*- Advances global visibility of Intershop's solution portfolio on Microsoft Azure Cloud Platform*

*- Increases customer benefit of growing cooperation through joint co-sales and enhanced support*

*Jena, Redmond, 7 September 2018*: Intershop Communications AG and Microsoft Corporation today announced a deepening of their cooperative strategic partnership to better serve customers by transforming the retail commerce market. Intershop will continue to work with Microsoft's regional sales and marketing organizations, but will now be centrally supported and managed by a Microsoft team from the company's headquarters in Redmond as part of making Intershop's solutions more easily available to Microsoft customers and partners throughout the world.

This latest advancement in the successful two-and-a-half-year collaboration between Microsoft and Intershop is further evidence of the substantial potential of Intershop's ecommerce offerings as a complement to Microsoft's portfolio. Microsoft Deutschland GmbH and Intershop Communications AG collaborative teams have been jointly enhancing a portfolio of Microsoft Azure Cloud products and services combined with the Intershop commerce solution for several years in response to customers' needs. Some of these advanced solutions have already been successfully sold to customers in Germany and other countries.

"We are proud to see that the efforts to combine our offering and make it available as part of Microsoft Azure is being so well received by both our customers and Microsoft," said Dr. Jochen Wiechen, CEO of Intershop. "Working on this new level of partnership with the team at Microsoft will have a significant impact on the global visibility of this offering. The integration of the Intershop Commerce solution with the business applications of the Microsoft Dynamics 365 product family is another customer benefit of our close cooperation. Our customers will also enjoy the additional benefit of Intershop's standard support of the Microsoft SQL Server database".

"We are pleased with our collaboration with Intershop, enabling retailers to deliver an enhanced and unique customer experience," said Greg Jones, Director Industry Solutions World Wide Retail at Microsoft "The Microsoft Azure Cloud solution combined with Intershop is a building block that further compliments the portfolio of retail solutions that Microsoft is bringing to market with our partners."

 

*About Intershop*

Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.

This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.*Press Contact:*

Heide Rausch
Tel: +49 3641 50-1000, pr@intershop.com

 
--------------------

07.09.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------

Language: English
Company: Intershop Communications AG
Intershop Tower
07740 Jena
Germany
Phone: +49 (0)3641-50-0
Fax: +49 (0)3641-50-1309
E-mail: ir@intershop.de
Internet: www.intershop.de
ISIN: DE000A0EPUH1
WKN: A0EPUH
Indices: CDAX, PRIMEALL, TECHALLSHARE
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
 
End of News DGAP News Service Reported by EQS Group 27 minutes ago.

USD/JPY stalls recovery near 110.70 amid fresh US dollar selling

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· *Weighed down by the US-Japan trade worries, US dollar weakness. *
· *110 or 111.50 on US payrolls and wages data?*

The *USD/JPY* pair faded the recovery from two-week lows of 110.38 last hour, now heading back towards the midpoint of the 110 handle amid fresh selling seen in the US dollar across the board.

The greenback came under renewed selling pressure in early Europe, as markets continue to book profits off the table ahead of the all-important US labor markets, with the main focus likely to be on the average hourly earnings figures. The USD index reversed sharply from 95.07 highs to now print daily lows of 94.91, as investors await the sentiment on the European open for fresh impetus.

Earlier in the Asian session, the spot accelerated its overnight declines and reached two-week lows, as the Yen was broadly boosted by increased safe-haven flows fuelled after Trump’s overnight comments that suggested Japan is in the next line of fire regarding the trade issues.

More so, the 2-year US-JP yield differential remains in favor of the JPY bulls while upbeat Japanese real wage growth data also underpinned the sentiment around the Yen.

Looking ahead, the pair will continue to get influenced by the upcoming US jobs data while broader market sentiment amidst ongoing trade angst will continue to drive the Yen flows.

*USD/JPY Technical Analysis*

FXStreet’s Analyst, Omkar Godbole noted: “A weekly close below 110.00 would neutralize the bullish outlook and shift risk in favor of a drop below 109.77 (Aug. 21 low). A daily close below that level would confirm a bullish-to-bearish trend change, that is, the rally from the March low of 104.63 has ended and would open up downside towards 108.90 (50% Fib R of 104.63/113.18). On the higher side, 111.83 is the level to beat for the bulls.” Reported by FXstreet.com 46 minutes ago.

TELUS Health and Babylon to bring advanced digital health technologies to Canada

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Canadians will have more options for accessing quality care and communicating efficiently with healthcare professionals no matter where they are located

VANCOUVER, British Columbia and LONDON, Sept. 07, 2018 (GLOBE NEWSWIRE) -- TELUS Health, a Canadian organization committed to driving healthcare efficiencies and enhanced patient experiences through the use of advanced technology; and Babylon, one of the world’s leading digital health companies, have come together to provide doctors and patients in Canada with access to virtual healthcare technology solutions and services. The partnership aims to support continuity of care by delivering more options to Canadians for accessing quality healthcare and communicating more efficiently with healthcare practitioners from anywhere, at any time.The service will complement existing healthcare services across the country for people in rural areas or living with mobility issues, those who are unable to access non-emergency healthcare on evenings, weekends or holidays, and for the *five million* Canadians who do not have a family physician.

A recent study by the Canadian Medical Association, found that *three out of four* Canadians (75 per cent) believe that new technologies could solve existing issues in our healthcare system. Further, *seven in 10* Canadians would take advantage of virtual physician visits and many believe that it would lead to more timely and convenient care.
                  
“At TELUS Health, we leverage the power of technology to deliver better health outcomes, empowering Canadians with the right tools, information and support they need to live healthier and happier lives. Our partnership with Babylon, through a globally-leading virtual care solution, will enable consumers to get access to healthcare anywhere and anytime they need it,” said Juggy Sihota, vice president, TELUS Health. “Together, we are not only helping to improve the options Canadians have for accessing healthcare, but also providing them with a digital tool that makes communicating with healthcare professionals more efficient.”

Both organizations are committed to delivering the most trusted and reliable service to Canadians with all patient data being stored in Canada. Work is also underway to establish an advisory council of medical professionals to provide guidance into the roll out of this innovative service, and ministries of health across the country will also be engaged for their input.

Babylon’s suite of digital solutions is currently being used by approximately three million direct members outside of Canada and is accessible to tens of millions more through the organization’s worldwide partnerships. The virtual care technology will be made available to Canadians via a version of the mobile app developed specifically for Canada. Powered by artificial intelligence (AI), the app will include an easy-to-use, chat-style symptom checker that patients can use to better understand their symptoms or healthcare concerns. This highly intuitive and accurate interface can also be used to have a video consultation with a licensed Canadian healthcare provider.

“Canada is building a reputation worldwide for innovation and desires to be at the cutting-edge of development,” said Dr. Ali Parsa, Babylon’s Founder & CEO. “TELUS’ consumer-centric approach coupled with its success in creating a more connected healthcare ecosystem through the use of innovative digital health technology solutions makes them the perfect partner for Babylon as we begin to serve this great country. Together, we will build on the brilliant work that Canada’s federal and provincial governments, departments of health and clinicians are doing to tackle issues of primary care access and affordability. Babylon’s mission is to put accessible and affordable healthcare services into the hands of every person on earth and entering the Canadian market is an exciting step for us. We look forward to extending our services to all Canadians via this game-changing announcement with TELUS.”

The TELUS-Babylon service in Canada will be made available in English at launch with French to follow in 2019. More details will be announced later this year, including information regarding its staggered rollout across the country.

*About Babylon*
Babylon’s Mission is to put an accessible and affordable health service in the hands of every person on Earth. Babylon uses a combination of cutting-edge technology and the best available medical expertise to deliver 24-hours-a-day, 7-days-a-week access to digital health tools (including health assessment, triage and medical information tools), to people across Europe, North America, Asia, the Middle East and Africa, as well as video doctor consultations.

For more information, please visit: www.babylonhealth.com.

*About TELUS Health and Payment Solutions*
TELUS Health is a leader in home health monitoring, electronic medical and health records, as well as consumer health, benefits management and pharmacy management solutions. TELUS Health leverages the power of technology to enable better health outcomes for Canadians with innovative digital solutions that enable collaboration, efficiency and productivity for physicians, pharmacists, health authorities, allied health care professionals, insurers, employers and citizens. TELUS Payment Solutions complements our health solutions by delivering secure, industry-compliant payment and lending solutions that connect lenders, payors, insurers, extended health care providers and financial institutions to their customers across Canada.

For more information please visit: www.telushealth.com and www.telus.com/payment-solutions.

*For media inquiries, please contact*:

Jill Yetman
Senior Communications Manager
TELUS Social and Media Relations
416-992-2639
jill.yetman@telus.com

Michael Herrmann
Global Public Relations Director
Babylon
+44 (0) 7792 692 945
michael.herrmann@babylonhealth.com Reported by GlobeNewswire 40 minutes ago.

SMPTE 2018 Annual Technical Conference & Exhibition to Highlight Technologies Fueling the Future of Motion Imaging

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October Event to Feature World-Class Lineup of Technical Sessions, Advanced Technology Exhibitions, and Popular Networking Events

LOS ANGELES and WHITE PLAINS. N.Y. (PRWEB) September 07, 2018

SMPTE®, the organization whose standards work has supported more than a century of advances in entertainment technology and whose membership spans the globe, today announced the full conference program for the SMPTE 2018 Annual Technical Conference & Exhibition (SMPTE 2018). SMPTE 2018 will be held Oct. 23-25 at an all-new location: the Westin Bonaventure Hotel & Suites in downtown Los Angeles. The SMPTE 2018 Symposium on Oct. 22 will precede the Society's annual conference, which is recognized as the world's premier forum for the exploration of media and entertainment technology.

Co-chairs of the SMPTE 2018 technical conference program committee are SMPTE Fellows Thomas Edwards, vice president of engineering and development at Fox, and SMPTE Education Director Sara J. Kudrle, product marketing manager for playout at Imagine Communications. The technical conference program will include 78 paper presentations spread over three days — this year in up to three concurrent sessions rather than just two.

"Every year, the SMPTE Annual Technical Conference & Exhibition delivers an unprecedented lineup of sessions and popular networking events. Presenters and attendees alike are world-renowned technology thought leaders," said SMPTE Education Vice President Richard Welsh, CEO and co-founder of Sundog Media Toolkit. "With a record number of paper proposals submitted this year, SMPTE 2018 will be better than ever — promising unparalleled opportunities for professional development, relationship-building, and mind-sharing. The conference is a must-attend for anyone working on the technical side of media and entertainment and looking to future-proof their organization and career."

Preconference Events on Oct. 22
On Monday, Oct. 22, the conference and exhibition will be preceded by the daylong SMPTE 2018 Symposium — Driving the Entertainment Revolution: Autonomous Cars, Machine Intelligence, and Mixed Reality. Chaired by Michael Zink, vice president of technology at Warner Bros., the Symposium will provide attendees with a fresh and uniquely rich perspective on the future of entertainment experiences. Intel Corporation Automated Driving Group Senior Vice President Douglas Davis will present the keynote, titled "Safety Today for the Autonomous Tomorrow." Davis will discuss the potential of autonomous vehicles in saving lives by reducing or eliminating human error on the roads. He also will consider how consumers' embrace of autonomous vehicles may potentially provide a massive new passenger economy and, in turn, propel a transformation that impacts a variety of industries. Further Symposium details and registration information are available at http://www.smpte2018.org/symposium.html.

The annual Women in Technology Luncheon, presented by SMPTE and the Hollywood Professional Association (HPA), will also take place Oct. 22. Luncheon tickets are available separately or as an add-on to SMPTE 2018 conference registration. Lunch will also be provided for Symposium attendees who do not attend the Women in Technology Luncheon. Monday's events will conclude with an Evening Luau reception. The Luau is included in packages that include Symposium registration, and tickets may also be purchased separately as an add-on to other registration types.

Overview of Technical Sessions
Papers presented over the three-day SMPTE 2018 conference will address topics including professional media networking; Better Pixels Projects; managing complex, seemingly unmanageable workflows; evaluating image quality for brighter displays, immersive visual experiences and high-dynamic-range (HDR); AI algorithms and why they will become a must for any content producer and provider; the evolution of streaming services; the cloud; the metamorphosis of today's encoding technologies; advances in display technologies; and taming metadata by harnessing the power of media asset management (MAM).

The three-part session Better Pixels, chaired by Sally Hattori of Twentieth Century Fox Film and David Long of the Rochester Institute of Technology (RIT), will go beyond physics and engineering to consider the holistic quality of experience for the human observer adequately. Presentations will include HDR Image Analysis for Better Storytelling, Production and Distribution Technologies for a Better Pixel Ecosystem, and Image Processing Technologies for Better Pixels. Presenters will include Andrew Cotton and Simon Thompson of the BBC, JD Vandenberg of The Walt Disney Studios, and Edward G. Callway of AMD.

Another three-part session, Artificial Intelligence, will ask the question, "Is AI more than automation in our industry?" Chaired by Yvonne Thomas of Arvato Systems, the session will explain why AI algorithms will become a must for any content producer and provider and an integrated component in our system landscapes. Presentations will offer practical examples of AI's use in the media industry and will show how to create and develop machine-learning practices to ensure the highest-quality metadata. Presenters will include Ray Thompson of Avid, Thomas Gunkel of Skyline Communications, and Christopher Witmayer of NASCAR.

Chaired by Mark Zorn of HBO USA, the companion sessions Will Blockchain Solve All Our Problems in M&E? and Exploring Security and Blockchain in New Media Space will provide use cases exploring whether there is a practical use for blockchain in media and entertainment and if operators can embed security technologies that will protect against new threats. Presenters will include Leigh Whitcomb of Imagine Communications, Shruti Tripathi of Techtel, and Eric Diehl of Sony Pictures Entertainment.

Increasing video resolution, high frame rates (HFR), and numbers of 360-degree cameras are pushing the boundaries of storage solutions. From acquisition to postproduction to archiving, now more than ever, storage remains an essential component of the media industry. The session Storage: From Production to Archiving, chaired by Massimiliano Gasparri of elev8+ Inc. (formerly eCare Manage), will present case studies, survey results, trends, and insights on the future of digital storage for the entertainment industry. Presenters will include Thomas Coughlin of Coughlin Associates and Brian Campanotti of Cloudfirst.io.

Many recent advances in professional media production, such as HDR and Ultra HDTV, are being driven by display technology. In the session Advances in Display Technology, chaired by Peter H. Putnam of ROAM Consulting LLC, presenters will explore new ways to format and show electronic images in the home and at the cinema, and perhaps even in viewers' heads. Presenters will include Trevor Canham of RIT and Universitat Pompeu Fabra, Scott Daly of Dolby Laboratories, and SMPTE Past President Peter Ludé of Mission Rock Digital.

The continued adoption of the SMPTE ST 2110 suite of standards for professional media over managed IP (internet protocol) networks will likely be a popular focus of discussion at SMPTE 2018. Thomas Edwards of Fox Networks Engineering and Operations and SMPTE Finance Vice President Hans Hoffmann, who is also of the European Broadcasting Union (EBU), will chair a four-part IP session that includes Practical Implementation of SMPTE ST 2110, Timing and Documentation of IP Plants, Higher-Level IP Functionality, and Advances in IP. Presenters will include Robert Porter and Gareth Sylvester-Bradley of Sony Europe Limited, John Mailhot of Imagine Communications, and Jean Lapierre of Matrox.

Scott Barella of PESA will chair the session Encoding: The Never-Ending Story, with presenters taking a look at the new wrinkles confronting codec developers — UHD, streaming, HDR, and mezzanine compression — as the tug-of-war between bandwidth, bit rate, and "buck$" continues. Presenters such as Jill Boyce of Intel, Gary Clow of Videastream, and Julien Le Tanou of Ericsson Media Solutions will offer the latest technical developments from the front lines of encoding.

The Cloud will be the subject of a multi-part session chaired by Willem Vermost of the EBU, with papers covering a wide range of media production applications making use of the cloud's flexibility, scalability, and sharing ability. Attendees will discover how the building blocks of the media industry are moving away from dedicated 19-inch equipment in a rack and toward a dematerialized version in the cloud. Presenters will include Jack Wenzinger of Amazon Web Services (AWS), Karsten Schragmann of Arvato Systems, Naruaki Kato of NHK, Julie McDonald of Nimble Collective, Christopher Witmayer of NASCAR, and Alex Giladi of Comcast.

Chaired by Blue Collar Post Collective (BCPC) President Kylee Peña, also of Netflix, the session Image Quality will answer the question, "What does image quality look like?" Presenters will explore the various issues at stake for the present and future of evaluating image quality, from black levels and visibility thresholds to monitoring across platforms and assessing brightness and contrast in an HDR setting.

In three sessions chaired by SMPTE Secretary/Treasurer and industry consultant John E. Ferder — The Global Impact of OTT, I Want My OTT! Meeting the Growing Demand for OTT Services, and Rollin' on the OTT River: Avoiding the Rocks and Shoals in Your Content Delivery Stream — presenters will examine the explosion of global internet users and the development of OTT penetration in the world's largest markets. Papers will also describe the latest approaches and innovations for the improvement of delivery of OTT content to the ever-growing number of subscribers, as well as new techniques in monitoring, transmission schemes, and piracy prevention.

Managing the seemingly unmanageable is the essence of a session on File-Based Workflows, especially as workflows continue to evolve and the size and complexity of productions continue to increase. Chaired by Massimiliano Gasparri of elev8+ Inc. and SMPTE Education Director Sara J. Kudrle of Imagine Communications, the session will include papers covering new tools, techniques, and technologies for managing even the most complex workflows.

The session Innovating People: Management, Culture, and Inclusion, chaired by John McCoskey of Eagle Hill Consulting and Kylee Peña of Netflix and BCPC, will explore the often-overlooked importance of understanding, caring for, feeding, and nurturing the most essential resource in a media and technology organization: people. Presenters will examine the roles of culture, core values, and inclusivity as tools to help understand and address the requirements of today's workforce.

New immersive technologies such as omnidirectional videos or augmented scene displays mandate new forms of storytelling. The session Living in a Virtual World, chaired by Siegfried Foessel of Fraunhofer IIS, will highlight observed user behavior in omnidirectional videos and offer guidance for immersive virtual-world experiences.

Renard Jenkins of PBS will chair a session on Production and Postproduction, with presentations including Berlin Leichtathletik-EM: Lessons from a Live, HDR, HFR, UHD, and Object-Based Audio Sports Event and Case Study — The Mother of All Tests for UHD Introduction at the Canadian Broadcasting Corporation. Jenkins will also chair the Image Acquisition session, featuring presentations such as In-Camera, Photorealistic Style Transfer for On-Set Automatic Grading and Creative Grading — Or Why a New Way of Broadcast Camera Control Is Needed.

Presenters will channel Rod Serling from "The Twilight Zone" in the sessions The Future of Light and Sound and The Future of Time and Space, chaired by William Redmann of Technicolor. Presentations include Sound and Fury: Bringing Dolby Atmos to the National Hot Rod Association (NHRA), Architectural and Engineering Considerations for Direct View LED as Applied to the Cinema, Beyond SMPTE Timecode, and Broadcast Channel Origination as a Service.

SMPTE 2018 Special Events
In addition to a wealth of technical sessions and exhibitions of advanced technologies, SMPTE 2018 will include special events that offer numerous opportunities for face-to-face interaction between attendees, exhibitors, and speakers. The first day of the technical conference, Oct. 23, will include the Fellows Luncheon, open exclusively to SMPTE Fellows and Life Fellows, as well as the SMPTE Annual General Membership Meeting in the morning and Oktoberfest Reception in the evening, both open to all registered attendees. On Oct. 24, all registered attendees are invited to a Trick or Treat Spooktacular reception in the exhibit hall. The SMPTE 2018 Annual Awards Gala on Oct. 25 will treat guests to a red carpet, reception, and dinner honoring industry leaders. The announcement of honorees is available here: https://www.smpte.org/news-events/news-releases/smpte-announces-annual-a.... Awards Gala tickets are available at an additional charge or as a stand-alone purchase.

Registration
SMPTE 2018 registration includes the keynote presentation, access to the exhibition hall and all conference sessions, lunch each day of attendance (a first for 2018), and evening events including the Welcome Luau reception (Monday), popular Oktoberfest Reception (Tuesday), and Trick or Treat Spooktacular (Wednesday). SMPTE 2018 will conclude with Thursday's SMPTE Annual Awards Gala, available at an additional charge.

Tickets for many SMPTE 2018 events are limited, and early registration is encouraged. Attendees also can save by taking advantage of the SMPTE group room rate at the Westin Bonaventure, where a limited block of reduced-rate rooms will be available through Sept. 28, or while rooms remain available.

Additional information about SMPTE 2018 and registration is available at http://www.smpte2018.org.

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About SMPTE®
For more than a century, the people of the Society of Motion Picture and Television Engineers, or SMPTE (pronounced "simp-tee"), have sorted out the details of many significant advances in media and entertainment technology, from the introduction of "talkies" and color television to HD and UHD (4K, 8K) TV. Since its founding in 1916, SMPTE has received an Oscar® and multiple Emmy® Awards for its work in advancing moving-imagery engineering across the industry. SMPTE has developed thousands of standards, recommended practices, and engineering guidelines, more than 800 of which are currently in force today. SMPTE Time Code™ and the ubiquitous SMPTE Color Bars™ are just two examples of SMPTE's notable work. Now in its second century, SMPTE is shaping the next generation of standards and providing education for the industry to ensure interoperability as the industry evolves further into IT- and IP-based workflows.

SMPTE is a global professional association of technologists and creatives who drive the quality and evolution of motion imaging. Its membership today includes more than 7,000 individuals: motion-imaging executives, creatives, technologists, researchers, and students who volunteer their time and expertise to SMPTE's standards development and educational initiatives. A partnership with the Hollywood Professional Association (HPA) connects SMPTE and its membership with the businesses and individuals who support the creation and finishing of media content. Information on joining SMPTE is available at smpte.org/join.

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