Light up your home with these illuminating tips #SootinClaimon.Com

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Light up your home with these illuminating tips (nationthailand.com)

Light up your home with these illuminating tips

Arts & CultureDec 07. 2020Colter Zimmer, 13, puts up Christmas lights with his mom, Julie Zimmer, at their home in Crofton, Md., on Nov. 22. MUST CREDIT: Photo for The Washington Post by Evelyn HocksteinColter Zimmer, 13, puts up Christmas lights with his mom, Julie Zimmer, at their home in Crofton, Md., on Nov. 22. MUST CREDIT: Photo for The Washington Post by Evelyn Hockstein 

By Special To The Washington Post · Laura Daily · FEATURES, HOMEGARDEN 

What’s Christmas without holiday lights? For starters . . . no worries that a hot bulb will melt your favorite plastic Snoopy ornament, or fears that adding one more string of lights will plunge your den into darkness. And maybe your heart won’t skip a beat when you receive your December utility bill.

Yes, they have a reputation for being a hassle. But holiday lights have changed. Thanks to LED technology, the nightmares of Christmases past have largely been resolved. Even Clark Griswold would approve of the more reliable, energy-efficient options available these days. 

As a consumer expert, I know how to find a great deal, but I haven’t untangled a string of lights in years – since I moved to the city from a larger home in the mountains. So I asked several experts for their advice on light features, safety, storage and more. Here are our illuminating tips.

– Make a plan. It doesn’t have to be elaborate. Mike and Jenn Onstott, whose spectacularly lit Commerce City, Colo., home attracts thousands of spectators annually, suggest asking yourself: Do I want lights everywhere or in a few select spots? A classic look or more modern? Showy or subdued? Take some measurements. Remember: A 10-foot rail may need 16 feet of lights if you plan to wrap it tightly so the lights are close together. Choose a theme or color scheme.

Frank Skinner, director of marketing for online retailer Christmas Lights, Etc, says: “If you know you like Christmas and will be decorating for years to come, build up a collection. Initially, you might buy clear lights and then add colors in subsequent years. You aren’t locked in, because you can mix and match and rearrange strings.” 

– Choose your bulb. With their soft, warm glow, traditional incandescent lights evoke cozy memories for many. But the more vibrant LEDs have come a long way. LEDs use far less electricity, stay cool to the touch, last longer and come in a wide variety of shapes, sizes, lens styles, colors and finishes. 

Over the past six years, the Onstotts have converted 90% of their 27,000 lights to LED, mostly to save on electricity, reserving the remaining incandescent lights for special displays. 

Whether you opt for incandescent or LED, experts agree it’s best not to mix the two in one display. Not only will the lights visually clash, but you may also experience power issues.

– Decide how much you want to spend. Would you rather save money now or over time? A box of 50 mini-incandescent lights can cost as little as $3 in a big-box store, whereas a 50-count string of LED lights may start at $10. Outdoor-specific or commercial-grade lights will cost more. Although incandescent lights are less expensive, they use significantly more electricity and typically last one to three seasons. Though pricier, LED lights are energy-efficient, allowing you to plug more lights in to one outlet. And although most LED light manufacturers say they will last up to five seasons, Skinner says test sets lit 24/7 at his company offices are still burning bright after seven years. 

– Buy with confidence. Take note if lights are rated “indoor” or “indoor/outdoor.” The latter are usually more durable. Depending on your local climate, you may want to buy commercial-grade lights that hold up to extreme heat or cold. If you are especially picky, check a sample light string if the lights are on display in the store. Major brands, such as Wintergreen or Kringle Traditions, that supply detailed specifications (such as wire style, color or plug) to manufacturers will stamp their name on the tube near the plug. That’s a clue that the product is of a higher quality.

– Try outside-the-box tricks. Substitute icicle lights (normally used outside) for traditional strings if you want a well-lit indoor tree, suggests Albie Mushaney, host of the HGTV holiday special “You’ll be Home for Christmas.” Instead of wrapping your tree 20 times, you may only need two strands and three to four wraps to achieve the same amount of coverage and light.

Jenn Onstott says to look for lights with faceted bulbs and add reflective ornaments to your tree, so you don’t need as many lights. If you have children or pets, consider erecting and decorating some sort of barricade around your lit tree. Incandescent lights do get hot to the touch, and pets that chew may find light strings tempting. The Onstotts use a baby gate. Mushaney, who has two Great Danes, built a small picket fence.

– Know your power. I’ve said it before, but it bears repeating: The biggest difference between LED and incandescent lights is the amount of electricity used. For example, Mike Onstott redid a reindeer display at his home. The original, with 300 incandescent lights, used 122 watts; the new version, with 360 LED lights, uses three watts. “When you’re not pulling as much power, you can put up more lights without short-circuiting your home,” Jenn Onstott says. You need to determine not only what outlets are available, but also what else in your home – lamps, electronics, appliances – is being powered by that circuit. A kilowatt meter ($20 to $30) easily monitors an outlet’s power usage, so you don’t overload it and trip the breaker. 

– Minimize hazards. Remember: Water and electricity do not mix. For outdoor displays, buy lights with a “sealed connection.” That means the base of each bulb has an acrylic seal to permanently affix it to the wire, keeping moisture out. To avoid standing water (or snow), Mike Onstott recommends using stakes to keep plugs above the ground. He also wraps any electrical connections in plastic bags secured by a rubber band.

And Skinner says you shouldn’t use a staple gun to hang lights. “You risk nicking or ripping off the wire coating, causing a potential electrical short.” Instead, use inexpensive clips to attach lights to your roof or gutters. As a timesaver, in lieu of clips, Mushaney rims his house and windows with small screw-in hooks and leaves them up year-round. 

– Take the easy route. Sure, you could invest the time, money and effort in hand-wrapping lights around the trunks of outdoor trees or artfully decorating bushes, but you don’t have to. Manufacturers have developed reasonably priced trunk-wrap lights (essentially lights woven into netting with loop clasps) that expand and stretch around a tree trunk. Net lights can be easily draped over bushes and hedges. So he doesn’t have to run out nightly, Mushaney uses a solar switch on a timer. At sunset, his outdoor lights automatically turn on, then turn off a few hours later.

– Store lights properly. Everyone has their own preferred method for keeping their lights organized when they aren’t in use. Skinner says to simply wrap lights in a circular pattern or roll them into a ball. Then store them in a box. The Onstotts suggest looping them, but instead of using the “palm and elbow” technique commonly used to store extension cords, start by dangling the strand and make decent-size loops, as if you were spooling a cord onto a vacuum cleaner without a hook at the bottom. Use Velcro or zip ties to keep cords together. Sort lights into plastic bins, and label either by location or specific tree. Mushaney hangs outdoor lights over chairs to dry, then puts lights in plastic grocery bags – one strand per bag – with the plug hanging out. Bags go into storage tubs labeled “inside” or “outside.”

– Take advantage of post-Christmas sales. Although retailers run sales in November and December, to get the best deals, shop right after Christmas. You can often find lights and other decorations discounted by as much as 75 percent to 90 percent. Mushaney says he sets the following year’s theme based on what he scores at a discount.

– Look into recycling options. Christmas lights are made from copper, glass and plastic – valuable materials that can actually be recycled and reclaimed. Contact your city’s municipal solid waste office. Many will recycle the lights if you bring them in. They may even run collection days for old lights or point you to a drop-off spot. If you live in Maryland, Pennsylvania, Virginia or the District, you can drop off your lights at any Mom’s Organic Market.

– Get online help. You’ll find all sorts of guides for holiday lighting on topics including artfully wrapping tree trunks, safely hanging lights on gutters or calculating wattage. Christmas Lights, Etc has a collection of lighting and decorating resources on its website, christmaslightsetc.com. Serious decorators should check out the Planet Christmas Forum (planetchristmas.com) or search for fellow holiday light enthusiasts in Facebook groups.

– Make memories. No matter the design, Christmas lights brighten the holidays, and they may spread joy far beyond your front yard. “I grew up poor, and my family had to find ways to entertain us kids, so we drove around looking at holiday lights on houses,” Mushaney says. “That created wonderful memories I’ll always remember. Now, maybe my house will be one that families drive by and build memories, too.” 

The U.S. Air Force is entering a robotic future #SootinClaimon.Com

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The U.S. Air Force is entering a robotic future (nationthailand.com)

The U.S. Air Force is entering a robotic future

Dec 08. 2020In January, Department of Defense contractor Ghost Robotics will be unleashing four of its semi-autonomous robots at Tyndall Air Force Base in Florida. MUST CREDIT: Ghost RoboticsIn January, Department of Defense contractor Ghost Robotics will be unleashing four of its semi-autonomous robots at Tyndall Air Force Base in Florida. MUST CREDIT: Ghost Robotics 

By The Washington Post · Dalvin Brown

Over the past five years, robotic dogs have gone viral in captivating online videos showing them opening doors, performing aerobics, hauling trucks and pulling other stunts. In the pandemic era, they’ve been used to promote social distancing and reduce risks to medical staff hospitals.

In January, Department of Defense contractor Ghost Robotics will be unleashing four of its semi-autonomous robots at Tyndall Air Force Base in Florida. MUST CREDIT: Ghost Robotics

Massachusetts-based Boston Dynamics was behind most of these examples. However, there is another company revolutionizing what robotic versions of man’s best friend can do, and it says its latest creation might be ready for war.

In January, Department of Defense contractor Ghost Robotics will be unleashing four of its semi-autonomous robots at Tyndall Air Force Base in Florida in what could be a step toward introducing robot dogs to conflict zones.

The hi-tech canines, known as Vision 60, are being touted as a security enhancement and are part of a plan to replace stationary surveillance cameras at the air force base, according to the military. However, Ghost Robotics envisions a scenario in the not-too-distant future where the machines go beyond just patrolling.

“We can see them in war zones, working with bombs, scouting, targeting, probably in 2022,” said Jiren Parikh, CEO of Ghost Robotics. “These can really become a war fighter’s best friend.” The military says the robots have the potential to be used in a “contingency, disaster or deployed environment.” On the Air Force base, the robots will enable human beings to focus on other tasks.

Founded in 2015, Philadelphia-based Ghost Robotics designed the four-legged drone alternative to “feel the world” and remain balanced when prowling through water, tall grass and other terrain. The computerized canines can operate in sub-zero temperatures and were made to move like real animals, the company says. Also referred to as “unmanned ground vehicles” or UGVs, they can climb steps, run and turn themselves upright if knocked over.

The secret sauce is motors that control the legs and adjust based on changes in ground pressure. Relying primarily on motors for navigation sets Ghost Robotics’ machines apart from Boston Dynamics’ devices, which depend on a host of sensors.

“A core design principle for our legged robots is reduced mechanical complexity when compared to other legged robots, and even traditional wheeled-tracked UGVs,” Ghost Robotics says on its website.

Semi-autonomous robots tested by the Australian army are being picked up by the U.S. Air Force. MUST CREDIT: Ghost Robotics

Semi-autonomous robots tested by the Australian army are being picked up by the U.S. Air Force. MUST CREDIT: Ghost Robotics

Boston Dynamics, a robotic dog pioneer, is a much larger company, employing up to 4,000 people across nine regional offices. Ghost Robotics has fewer than 25 employees.

Ghost Robotics’ dog-sized machines have onboard cameras and sensors to monitor for intruders along the base’s perimeter. The robots can trot along for up to seven and a half hours before needing a recharge. The machines, which are not meant to replace real military dogs, can be assembled in 15 minutes, while damaged limbs can be replaced even faster, Parikh said. The machines are equipped with Wi-Fi and 4g LTE to send live information to its operator.

Ghost Robotics has shipped over 100 of its robot dogs in 2020 and plans to send more than 250 in 2021.

The robots are part of the military’s ambition for an Advanced Battle Management System that uses a network of innovations such as artificial intelligence and robotics to detect and defend against threats.

Last month, the canines showcased their abilities during a test run at Tyndall, where they were operated using a remote control. Once they are programmed with a patrol path to follow, they will roam semi-autonomously with their handlers able to control them via virtual reality headsets when necessary, the Air Force says. The military-grade canines allow defenders that would otherwise be patrolling to focus on training, security and overall situational awareness across the base.

In September, Vision 60 robots were also used during a security exercise at Nellis Air Force Base in Nevada.

Ghost Robotics isn’t aware of immediate plans to weaponize the robots, though there are bomb-disabling applications. There’s also a concerted Human Rights Watch effort to keep lethal autonomous robots from being deployed; the U.S., to date, has declined to sign on.

Tyndall is the first military base in the United States to integrate the robots full time; however, the move follows a collaboration between Ghost Robotics and the Australian Army. In 2019, Australia experimented to find out how the country could leverage the robots in the “future of land warfare.”

Prices for one robot start around $100,000.

Apple preps next Mac chips with aim to outclass highest-end PCs #SootinClaimon.Com

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Apple preps next Mac chips with aim to outclass highest-end PCs (nationthailand.com)

Apple preps next Mac chips with aim to outclass highest-end PCs

Dec 07. 2020

By Syndication Washington Post, Bloomberg · Mark Gurman, Ian King · BUSINESS 

Apple Inc. is planning a series of new Mac processors for introduction as early as 2021 that are aimed at outperforming Intel Corp.’s fastest.

Chip engineers at the Cupertino, California-based technology giant are working on several successors to the M1 custom chip, Apple’s first Mac main processor that debuted in November. If they live up to expectations, they will significantly outpace the performance of the latest machines running Intel chips, according to people familiar with the matter who asked not to be named because the plans aren’t yet public.

Apple’s M1 chip was unveiled in a new entry-level MacBook Pro laptop, a refreshed Mac mini desktop and across the MacBook Air range. The company’s next series of chips, planned for release as early as the spring and later in the fall, are destined to be placed across upgraded versions of the MacBook Pro, both entry-level and high-end iMac desktops, and later a new Mac Pro workstation, the people said.

The road map indicates Apple’s confidence that it can differentiate its products on the strength of its own engineering and is taking decisive steps to design Intel components out of its devices. The next two lines of Apple chips are also planned to be more ambitious than some industry watchers expected for next year. The company said it expects to finish the transition away from Intel and to its own silicon in 2022.

While Intel gets less than 10% of its revenue from furnishing Apple with Mac chips, the rest of its PC business is liable to face turbulence if the iPhone maker is able to deliver demonstrably better-performing computers. It could accelerate a shake-up in an industry that has long been dependent on Intel’s pace of innovation. For Apple, the move sheds that dependency, deepens its distinction from the rest of the PC market and gives it a chance to add to its small, but growing share in PCs.

An Apple spokesman declined to comment. Chip development and production is complex with changes being common throughout the development process. Apple could still choose to hold back these chips in favor of lesser versions for next year’s Macs, the people said, but the plans nonetheless indicate Apple’s vast ambitions.

Apple’s Mac chips, like those in its iPhone, iPad and Apple Watch, use technology licensed from Arm Ltd., the chip design firm whose blueprints underpin much of the mobile industry and which Nvidia Corp. is in the process of acquiring. Apple designs the chips and outsources their production to Taiwan Semiconductor Manufacturing Co., which has taken the lead from Intel in chip manufacturing.

The current M1 chip inherits a mobile-centric design built around four high-performance processing cores to accelerate tasks like video editing and four power-saving cores that can handle less intensive jobs like web browsing. For its next generation chip targeting MacBook Pro and iMac models, Apple is working on designs with as many as 16 power cores and four efficiency cores, the people said.

While that component is in development, Apple could choose to first release variations with only eight or 12 of the high-performance cores enabled depending on production, they said. Chipmakers are often forced to offer some models with lower specifications than they originally intended because of problems that emerge during fabrication.

For higher-end desktop computers, planned for later in 2021 and a new half-sized Mac Pro planned to launch by 2022, Apple is testing a chip design with as many as 32 high-performance cores.

With today’s Intel systems, Apple’s highest-end laptops offer a maximum of eight cores, a high-end iMac Pro is available with as many as 18 and the priciest Mac Pro desktop features as much as a 28-core system. Though architecturally different, Apple and Intel’s chips rely on the segmentation of workloads into smaller, serialized tasks that several processing cores can work on at once.

Advanced Micro Devices Inc., which has been gaining market share at Intel’s expense, offers standard desktop parts with as many as 16 cores, with some of its high-end chips for gaming PCs going as high as 64 cores.

While the M1 silicon has been well received, the Macs using it are Apple’s lower-end systems with less memory and fewer ports. The company still sells higher-end, Intel-based versions of some of the lines that received M1 updates. The M1 chip is a variation of a new iPad processor destined to be included in a new iPad Pro arriving next year.

Apple engineers are also developing more ambitious graphics processors. Today’s M1 processors are offered with a custom Apple graphics engine that comes in either 7- or 8-core variations. For its future high-end laptops and midrange desktops, Apple is testing 16-core and 32-core graphics parts.

For later in 2021 or potentially 2022, Apple is working on pricier graphics upgrades with 64 and 128 dedicated cores aimed at its highest-end machines, the people said. Those graphics chips would be several times faster than the current graphics modules Apple uses from Nvidia and AMD in its Intel-powered hardware.

U.S., states poised to sue Facebook for monopoly abuse #SootinClaimon.Com

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U.S., states poised to sue Facebook for monopoly abuse (nationthailand.com)

U.S., states poised to sue Facebook for monopoly abuse

Dec 07. 2020

By Syndication Washington Post, Bloomberg · David McLaughlin, Ben Brody · NATIONAL, BUSINESS, COURTSLAW 

Facebook Inc. soon will be hit by federal and state antitrust lawsuits accusing the social media giant of abusing its dominance and thwarting competition, according to three people familiar with the matter.

Lawsuits are expected as soon as this week from the Republican-led Federal Trade Commission and a group of state attorneys general led by New York’s Letitia James, a Democrat, according to the people, who described the plans under condition of anonymity.

The complaints will mark the second time in less than two months that the U.S. and state officials have leveled monopoly charges against a U.S. technology giant. Combined with the Justice Department’s October complaint against Alphabet Inc.’s Google, the lawsuits mark the most significant monopoly cases filed in the U.S. in 20 years.

For Facebook, the lawsuits will represent the biggest regulatory attack in the company’s history, potentially imperiling its ownership of Instagram and WhatsApp. The cases culminate investigations into Facebook that began last year, part of a wave of antitrust scrutiny directed at U.S. tech firms that promises to carry over into the Biden administration.

Facebook became a prime target for President Donald Trump in the last two months of his administration. Last week, he threatened to veto the annual U.S. defense authorization bill unless Congress adds a rider to abolish the law that protects technology companies, including Facebook, from liability over most content posted by users. The demand followed months of attacks by Trump and other Republicans, who claim the technology platforms suppress conservative views.

In addition to the Facebook case, states are planning new lawsuits against Google in the coming weeks, according to two people familiar with the matter. Texas Attorney General Ken Paxton is targeting Google’s advertising business, while another group that includes Colorado, Iowa and New York has been investigating the company’s search monopoly, the subject of the Justice Department’s complaint.

It will be up to Biden’s Justice Department to carry the Google case forward, while the Facebook case will fall to whomever Biden picks as FTC chairman if Joe Simons, who was appointed by Trump, leaves the agency.

The cases reflect how public sentiment has turned on companies that have gone from scrappy start-ups to digital behemoths, said Rebecca Haw Allensworth, who teaches antitrust law at Vanderbilt University.

“We like the underdogs and the upstarts and competition, and when those companies were the underdogs and shaking things up they were a lot more popular,” she said. “Now they look like the big barons of industry that created the political will that led to the first antitrust laws.”

New York’s James said in an interview on Bloomberg TV Thursday that the states could combine their case with the FTC’s. The states’ investigation of Google, which initially included nearly every state, eventually fractured along partisan lines.

“I am confident that it will be a bipartisan matter as we move forward,” she said in response to a question about the states’ Facebook inquiry. “And in the event that we do file, we look forward to the possibility of consolidating with the FTC.”

No final decisions have been made and the filings could be delayed. The FTC declined to comment. James declined to discuss further details of the states’ Facebook probe.

The FTC case has focused in part on the company’s 2012 acquisition of Instagram and its 2014 purchase of WhatsApp — and whether they were intended to choke off competition.

That was among the findings of a 16-month House investigation of Facebook and other tech giants. The House report, released in October, accused Facebook of buying smaller companies that it viewed as competitive threats to protect and expand its dominant market position. Since its founding in 2004, Facebook has acquired at least 63 companies, according to the report.

The report cited internal documents showing that once Facebook identified competitive threats, “it attempted to buy or crush them by cloning their product features” or blocking them from connecting to the company’s platform.

“Facebook took these steps to harm competitors and insulate Facebook from competition, not just to grow or offer better products and services,” it said.

According to the report, Facebook Chief Executive Officer Mark Zuckerberg said in a message to a colleague that “Instagram can hurt us meaningfully without becoming a huge business.” When Facebook’s chief financial officer asked if the goal of buying Instagram was to “neutralize a potential competitor,” Zuckerberg responded that that was a motivation for the deal.

Facebook has long denied it’s a threat to competition. Zuckerberg told Congress in July that the company faces intense competition around the world and is constantly innovating to develop products users will like and to avoid falling behind.

Instagram’s success was far from guaranteed, he told lawmakers. It was Facebook’s investments in the company that made it successful.

“With hindsight it probably looks like obvious that Instagram would have reached the scale that it has today, but at the time it was far from obvious,” he told Rep. Jerrold Nadler, D-N.Y., chairman of the Judiciary Committee, which oversaw the panel’s antitrust report. “This has been an American success story.”

The Facebook complaint is the most significant antitrust action under the FTC’s Simons, who has led the agency since 2018. Last year, Simons reached a $5 billion settlement against Facebook for privacy infractions, an agreement that was widely criticized by privacy advocates, Democratic lawmakers and the agency’s two Democratic commissioners for not requiring changes in the way Facebook operates.

Cisco agrees to buy British cloud company for $721 million #SootinClaimon.Com

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Cisco agrees to buy British cloud company for $721 million (nationthailand.com)

Cisco agrees to buy British cloud company for $721 million

Dec 07. 2020

By Syndication The Washington Post, Bloomberg · Linus Chua

Cisco Systems agreed to buy British customer service software maker IMImobile Plc in a deal valued at about 543 million pounds ($721 million) as part of a plan to enhance tools to help companies keep track of and interacting with users. IMImobile shares rose the most on record.

The deal, Cisco’s largest British acquisition in about three years, offers IMImobile investors 595 pence per share in cash, the company said in a statement on Monday. That’s a 48% premium to the company’s Friday closing price of 402.50 pence.

Cisco is seeking to push further into automation to improve the way its customers reach out to their end-users, enabling them to make their pitches and services more effective. And it wants to add those capabilities to its existing customer-relationship management offerings.

IMImobile shares jumped 47% to 593 pence in early London trading on Monday, their biggest ever gain, according to data compiled by Bloomberg. San Jose, California-based Cisco, down 7.5% this year, rose 27 cents to $44.38 in New York on Friday.

Cisco’s Chief Executive Officer Chuck Robbins is seeking to recast the company — whose hardware is the backbone of the internet — as a networking software and services provider. He’s responding to an industrywide shift that has seen more of the functions traditionally provided by in-house hardware migrate to outsourcing offered by remote data centers.

With IMImobile, it sees an opportunity to use artificial intelligence software to automate the outreach process more effectively than is currently possible. For example, it will help customers channel their offerings into the approach that they prefer, such as through text messages, social media or a voice call. Another instance is to provide a company representative with more contextual information about the customer they’re dealing with to make sure that they tailor that interaction in a way that the customer wants.

“A great customer relationship is built on consistently enjoyable interactions where every touchpoint on every channel is an opportunity for businesses to deliver rich, engaging and intuitive experiences,” Cisco Senior Vice President Jeetu Patel said in the release.

The acquisition adds to a growing list of deals as technology companies seek to strengthen their AI capabilities. A week ago, ServiceNow Inc. said will buy Canadian startup Element AI Inc., marking the software maker’s fourth AI-related acquisition this year.

Asia News Network begins new chapter as legal entity in Singapore #SootinClaimon.Com

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Asia News Network begins new chapter as legal entity in Singapore (nationthailand.com)

Asia News Network begins new chapter as legal entity in Singapore

Dec 08. 2020

By Shefali Rekhi
Asian Insider & Asia News Network editor

Twenty-one years after a group of regional editors sealed an agreement in Bangkok to form a voluntary alliance, Asia News Network (ANN) has taken a major step forward with its formal registration as a legal entity, based in Singapore.

The new company, Asia News Network Ltd, will strive to bring Asia closer through an active sharing of news content on developments in the region between the 23 members of the alliance.

Becoming a formal legal entity was also considered necessary to enable the grouping to take a step forward in working on joint projects, such as hosting conferences and the syndication of content.

Born as a grouping of nine media titles, ANN now includes 23 leading titles of the region, based in major locations in the region.

The network’s members hail from the 10 Southeast Asian economies, China, Japan and South Korea as well as India, Bangladesh, Pakistan and other countries in South Asia.

The Straits Times is a founding member of the alliance.

Said Warren Fernandez, editor-in-chief of Singapore Press Holdings’ English/Malay/Tamil Media Group and editor of ST, who is also chairman of the network: “After 20 years of working together, all of us felt it was time for us to take things forward, by forming a company limited by guarantee, based in Singapore.

“This opens up new opportunities for us to collaborate on editorial projects, working with partners and sponsors, and other initiatives, all with a view to promoting good journalism and credible content on the region, across the ANN grouping.”

The registration means the “institutionalisation as an entity whose permanence is guaranteed by the commitment of its members,” added Ravindra Kumar, editor and managing director of The Statesman in India.

The change in ANN’s status is “an opportunity for the alliance to seek new partners and sponsors, opening up a whole new dimension for the grouping”, said Esther Ng, chief content officer for Malaysia’s Star Media Group.

“This is new territory, so it is exciting,” she added.

The founding members of the network aimed to promote coverage of Asian affairs through regional journalists for an Asian audience, at the time of inception.

The rising costs of subscribing to international wire services in the years after the 1997 Asian financial crisis weighed among considerations of the editors to establish the grouping.

The alliance’s members now see bringing Asia closer as their key challenge as the grouping begins a new chapter as a company limited by guarantee in Singapore.

“Given the many challenges facing the media industry, there is much scope, and need, for media organisations to work more closely together, from training and developing our journalists, to working on joint editorial projects and events,” Fernandez said.

“It is my hope that in the coming years we will really be able to bring Asia closer through a more intense exchange of news and views to create a partnership of growth and prosperity that will make the coming Asian Century truly remarkable,” added Mahfuz Anam, editor and publisher of Bangladesh’s The Daily Star.

The process of transforming the voluntary alliance into a legal entity commenced soon after the network marked its 20th anniversary in Seoul in April last year.

Members of the alliance debated two other prominent locations –Tokyo and Perth – recommended by international professional services firm KPMG before voting in favour of moving the alliance from Bangkok to Singapore.

Readers can expect “a projection of an Asia bound together by ideas, greater cooperation and collaborative projects that concern the region”, Kumar said.

“In coming years, ANN will establish a global footprint as Asia’s most authoritative media voice.”

Over the years, members have collaborated on several editorial projects, hosted conferences in different countries and engage heads of government in conversation, including Singapore’s Prime Minister Lee Hsien Loong, Chinese Premier Li Keqiang and former Japanese prime minister Junichiro Koizumi.

ANN members also exchanged views with South Korean President Moon Jae-in at the Blue House during its 20th anniversary celebrations in Seoul.

ANN can offer more original news analyses and there will be more organisational collaboration between members to offer in-depth analyses on issues affecting the region, Ng said.

“For example, a new partner could fund an in-depth coverage of the South China Sea conflict or how Covid-19 is affecting the region,” she noted, adding that “readers would want to get an insight into Asia through the eyes of Asians”.

KTC expects improvement in credit card business this month #SootinClaimon.Com

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KTC expects improvement in credit card business this month (nationthailand.com)

KTC expects improvement in credit card business this month

CorporateDec 08. 2020

By The Nation

Krungthai Card Pcl (KTC) expects its credit card business to improve in the remainder of this year, benefiting from the company’s campaigns to attract people with high purchasing power and the government’s “Shop Dee Mee Kuen” (Shop and Payback) scheme.

KTC executive vice president – credit card, Pittaya Vorapanyasakul, said that transactions via credit cards in the first 10 months amounted to Bt213 billion, while the volume of credit card subscriptions was 210,000 cards.

She expected transactions via credit cards this year to drop by 8-10 per cent year on year from a 15 per cent rise, while the volume of credit card subscriptions is expected to be at 250,000 cards, down from 270,000.

“In the past 10 months, the company’s revenue from the credit card business dropped due to the Covid-19 impact on people’s income, but we believe that it would improve in the remainder of this year from our campaigns to attract people with high purchasing power and the government’s ‘Shop Dee Mee Kuen’ [Shop and Payback] scheme,” she said. She added that the improvement, however, would not compensate for the loss in the previous months.

She said the company’s non-performing loans (NPLs) were currently at 2.7 per cent, up from 1 per cent due to a change in financial reporting standards.

She said the company would closely monitor non-performing loans and the approval of new credit cards for customers, especially those who were affected by the Covid-19 crisis.

“The company’s business plan next year is currently under consideration,” she added.

In a blow to New York, Goldman considers basing asset management in Florida #SootinClaimon.Com

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In a blow to New York, Goldman considers basing asset management in Florida (nationthailand.com)

In a blow to New York, Goldman considers basing asset management in Florida

CorporateDec 07. 2020Goldman Sachs headquarters, center, in New York on July 12, 2020. MUST CREDIT: Bloomberg photo by Jeenah Moon
Goldman Sachs headquarters, center, in New York on July 12, 2020. MUST CREDIT: Bloomberg photo by Jeenah Moon 

By Syndication Washington Post, Bloomberg · Sridhar Natarajan · BUSINESS 

Goldman Sachs Group Inc. is weighing plans for a new Florida hub to house one of its key divisions, in another potential blow to New York’s stature as the de facto home of the U.S. financial industry.

Executives have been scouting office locations in South Florida, speaking with local officials and exploring tax advantages as they consider creating a base there for its asset management arm, according to people with knowledge of the matter. The bank’s success in operating remotely during the pandemic has persuaded members of the leadership team that they can move more roles out of the New York area to save money.

Goldman may yet decide against centering asset management in Florida, where it would join a growing list of firms seeking tax and lifestyle advantages. It also may opt for another destination like Dallas, where it has been accelerating its expansion, the people said.

The deliberations at the Wall Street icon, often a trendsetter for the industry, adds to the cloud over New York’s future. As restaurants and stores fight to survive, the city is trying to stem the flight of white collar jobs to states with lax tax regimes and lower costs of living.

Manhattan now has the most office space available since the aftermath of the Sept. 11 attacks. This time, the trend began even before the pandemic struck, with AllianceBernstein Holding LP shaking up city boosters in 2018 with plans to move its headquarters to Nashville.

Inside Goldman, sentimental attachment to the city where it rose to prominence is taking a back seat to the company’s ambitious target unveiled early this year to cut $1.3 billion in costs, in part by shifting employees to cheaper locales. It’s unclear how many people could eventually go to Florida. In the last decade, Goldman has incrementally expanded offices in places like Dallas and Salt Lake City to thousands of jobs in an effort to trim expenses. The virus has cemented its resolve to accelerate that shift.

“We are executing on the strategy of locating more jobs in high-value locations throughout the U.S., but we have no specific plans to announce at this time,” a spokesman for Goldman Sachs said in an emailed statement.

The firm’s newly reconfigured asset-management division pulls in about $8 billion in annual revenue and is a critical pillar of Goldman’s plans to diversify its ways of making money. Goldman Sachs, which employed almost 41,000 people at the end of September, doesn’t disclose its divisional head count. Asset management has accounted for about a quarter of the firm’s revenue in recent years.

A decision to create a central location for the business in Florida would not only include back-office staff but also some investment professionals, two of the people said. The shift would be carried out over time.

Goldman has looked at potential office space in the corridor north of Miami that covers places like Palm Beach County and Fort Lauderdale, the people said.

Florida’s warm weather and lack of a state income tax have lured wealthy Americans for years. But until 2020, the region struggled to peel away the rainmaking class from Wall Street’s most elite firms. Most hedge funds that relocated to the state were relatively small. And while Deutsche Bank AG built a Jacksonville campus, many personnel there have focused on back-office and other support functions.

Now the migration of larger financial firms and money managers is showing signs of gaining momentum. Some employers are trying to accommodate owners or top talent who prefer the state. Such pressure may build as throngs of New Yorkers decamp to the Sunshine State as they wait for a vaccine in spacious homes with private pools.

Already, Paul Singer’s Elliott Management Corp. plans to move its headquarters to West Palm Beach from midtown Manhattan. Other investing powerhouses like Blackstone Group Inc. and Ken Griffin’s Citadel have been bulking up their presence in the state.

Meanwhile, New York’s defenders have been calling on business leaders to stand by the metropolis, predicting it will rebound once the pandemic passes.

“With all due respect to Florida, no place can compare to New York City’s concentration of talent, education, innovation and next-generation technology,” said Bill Neidhardt, press secretary to New York Mayor Bill de Blasio. “The city continues to see new expansions and investments from the leading industries and we expect more to come.”

Goldman’s top competitors have flirted with the idea in the past. JPMorgan Chase & Co. CEO Jamie Dimon in 2013 praised Florida’s business-friendly policies and joked that he sometimes wonders aloud why the nation’s biggest bank doesn’t relocate to Miami. Executives at one point floated the possibility of moving the firm’s headquarters to the state but dismissed the proposal over issues including the quality of Florida’s schools.

The coronavirus has stoked more serious conversation inside boardrooms, especially as executives fret about the new Democratic administration raising taxes and look to cut expenses to improve returns in an ailing economy.

Airbnb to boost IPO price range, aims for $42 billion value #SootinClaimon.Com

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Airbnb to boost IPO price range, aims for $42 billion value (nationthailand.com)

Airbnb to boost IPO price range, aims for $42 billion value

CorporateDec 07. 2020

By Syndication Washington Post, Bloomberg · Olivia Carville, Katie Roof, Crystal Tse · BUSINESS 

Airbnb Inc. boosted the price range of its initial public offering, pushing its potential valuation to as much as $42 billion.

The San Francisco-based company will now offer its shares for $56 to $60 apiece, up from a previous price range of $44 to $50 each, according to a filing Monday. That would increase the amount Airbnb is expected to raise to as much as $3.1 billion, and push its fully diluted valuation to $42 billion from $35 billion at the top of the earlier range. The home-rental company, which has seen a bounce back in domestic bookings since the early days of the pandemic crushed demand, still plans to offer 51.6 million shares.

Morgan Stanley and Goldman Sachs Group Inc. are leading the IPO. Airbnb plans to trade on the Nasdaq Global Select Market under the symbol ABNB

Moncler to buy Stone Island Sportswear brand for $1.4 billion #SootinClaimon.Com

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Moncler to buy Stone Island Sportswear brand for $1.4 billion (nationthailand.com)

Moncler to buy Stone Island Sportswear brand for $1.4 billion

CorporateDec 07. 2020Pedestrians pass a Moncler luxury fashion store in London on Oct. 15, 2018. MUST CREDIT: Bloomberg photo by Jason AldenPedestrians pass a Moncler luxury fashion store in London on Oct. 15, 2018. MUST CREDIT: Bloomberg photo by Jason Alden 

By Syndication Washington Post, Bloomberg · Tommaso Ebhardt, Flavia Rotondi · BUSINESS, RETAIL 

Moncler SpA agreed to buy Stone Island, a rival maker of high-end sportswear, for $1.4 billion (1.15 billion euros) in cash and shares, investing in a new platform for growth as the pandemic erodes demand for skiwear.

Moncler said Monday it will purchase 70% of Stone Island’s parent company SPW from Chief Executive Officer Carlo Rivetti and other members of his family. The skiwear maker will then buy the remaining 30% from Singapore’s state investor Temasek. Moncler shares rose as much as 3.8%.

With Stone Island, Moncler is diversifying after a streak of double-digit sales growth ended. The purchase also gives the Italian company, known for expensive winter jackets, a bigger presence in its home territory and a sportswear brand that appeals to younger customers after a takeover approach by French fashion company Kering SA last year.

The brand, founded in 1982, is known for colorful edgy sport jackets, which can cost more than $1,000. It also specializes in high-tech fabrics and has made garments that change colors depending on temperature.

Most European countries besides Switzerland have ordered ski resorts to shut down, undercutting one of the markets Moncler depends on. Chairman Remo Ruffini, 59, said that while the deal comes at a challenging moment, he sees potential in expanding Stone Island’s reach.

“I can see Stone Island growing in essential markets, such as Asia and the Americas, still unexplored by them, which we know well,” he said on a conference call. “It is precisely in these moments that we need new energy and new inspiration to build our tomorrow.”

Covid-19 has accelerated the luxury industry’s dependence on e-commerce and underlines the importance of younger shoppers from Generation Z, who were first to return to stores after lockdowns, Bain & Co. said in a report last month.

The deal values Stone Island at 16.6 times 2020 expected earnings before interest, taxes, depreciation and amortization of 68 million euros. The Rivetti family plans to reinvest part of the proceeds to become a shareholder in Moncler.

The deal is the latest in the luxury industry this year after LVMH salvaged plans to buy Tiffany & Co. in a record $16 billion acquisition. Luxury-goods makers are betting that demand for high-end products will rebound as consumers cut back on travel spending during the pandemic.

Moncler may be able to help Stone Island improve its distribution. The acquirer gets 77% of its revenue through its own network of 218 stores, while Stone Island only has 24 shops and gets three-quarters of sales from wholesale partners.

Moncler and Stone Island have benefited from growing demand for so-called athleisure wear, which may be accentuated by the switch to working from home. McKinsey and Business of Fashion forecast a strong market for the segment in 2021 in a report published last week.