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19 января, 18:48

Marseille turn their attentions to Crystal Palace midfielder Yohan Cabaye

• Fresh target halfway through three-year deal at Palace • Sam Allardyce considering new bid for Sunderland’s Patrick van AanholtMarseille’s eagerness to secure reinforcements from the Premier League extends beyond a desire to re-sign the West Ham United forward Dimitri Payet, with the French club having indicated an interest in securing Yohan Cabaye from Crystal Palace.Marseille are sixth in Ligue 1 but, having been purchased by the American businessman Frank McCourt in October, are seeking to add to the manager Rudi Garcia’s options this month. The Montpellier midfielder Morgan Sanson was signed this week for €12m (£10.3m), while two bids have been submitted, and rejected, for Payet. The second was worth £20m but West Ham would only countenance a sale for a fee of more than £30m for a player who cost £10.7m when prised from Stade Vélodrome only 18 months ago. Continue reading...

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19 января, 03:01

Manchester United’s record revenue unseats Real Madrid at top of rich list

• United head Deloitte Football Money League with revenue of £515.3m• Barcelona are second while eight Premier League sides feature in top 20Manchester United have regained the top spot in the Deloitte rich list from Real Madrid with record revenue of £515.3m for the 2015-16 season. Having topped the Football Money League for 11 consecutive seasons, Real posted revenue of £463.8m to slip down to third behind Barcelona, despite winning the Champions League.Leicester City, the Premier League champions, are one of eight English clubs to feature in the top 20 having generated combined revenues of nearly £2.4bn. Continue reading...

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17 января, 13:10

Райффайзенбанк: Дефицит валютной ликвидности снизился, но роль приватизации Роснефти невелика

Валютный и денежный рынок Дефицит валютной ликвидности снизился, но роль приватизации Роснефти невелика Как мы и ожидали (см. наши комментарии с октября прошлого года), в декабре в банковской системе образовался дефицит валютной ликвидности, связанный, главным образом, с прохождением пика выплат по внешнему долгу при отсутствии у банков достаточного объема свободных валютных активов для их компенсации (размер ликвидных валютных активов в течение года сократился до уровня остатков на текущих валютных счетах корпоративных клиентов). В результате этого дефицита стоимость валютной ликвидности (=MosPrime - FX Swap) на локальном рынке выросла на 150-200 б.п. по сравнению с уровнями октября - до 250-300 б.п. (так, спред 3M MosPrime - 3M FX Swap расширился до 260 б.п.), что обусловило всплеск спроса банков на валютное РЕПО ЦБ РФ (которое стоит 3%+ на 28 дней). Долг банков перед ЦБ РФ 29 декабря возрос на 4,3 млрд долл. (до 11,4 млрд долл.). Отметим, что по итогам приватизации Роснефти, о закрытии сделки было объявлено еще 16 декабря (когда и прошли расчеты с бюджетом), валютная ликвидность поступила на локальный рынок только в начале этого года, когда консорциум Glencore и QIA стал владельцем доли в Роснефти (данные СМИ). По-видимому, до этого момента, как пишут Ведомости, рублевые средства в бюджет были перечислены за счет рублевого бридж-кредита, выданного консорциуму ВТБ, права требования по которому затем перешли Роснефтегазу (участие ВТБ потребовалось на период, в течение которого Роснефтегаз смог изъять свою рублевую ликвидность с банковских депозитов). По данным СМИ, собственные средства акционеров консорциума на покупку пакета Роснефти стоимостью 10,2 млрд евро (которые в этом году были перечислены покупателем в Роснефтегаз) составили всего 2,2 млрд евро. Примерно на такую же величину в этом году и произошло сокращение задолженности банков по валютному РЕПО ЦБ (на 2,8 млрд долл. до 8,54 млрд долл.), из чего можно сделать вывод о том, что чистый приток иностранного капитала от сделки по приватизации Роснефти оказался довольно скромным 2,4-2,8 млрд долл. (по данным пресс-релиза Glencore, участие в ее финансировании приняли российские банки). Тем не менее, этих средств, а также притока ликвидности вследствие большого сальдо счета текущих операций (по нашим оценкам, в январе оно может составить 12,4 млрд долл. при средней цене Brent и курсе рубля на уровнях 55,6 долл./барр. и 60 руб./долл., соответственно) оказалось достаточно для заметного сокращения дефицита валюты на локальном рынке (спреды MosPrime - FX Swap сузились до 150-200 б.п.). При сохранении текущей благоприятной конъюнктуры на рынке нефти в феврале и марте мы ожидаем сальдо счета текущих операций в 1 кв. в объеме 25 млрд долл., что покрывает объем погашений по внешнему долгу нефинансовых организаций (20,7 млрд долл., по оценке ЦБ), большая часть которого, как и в прошлом году, скорее всего, будет рефинансирована за рубежом. В этой связи стоимость валютной ликвидности, скорее всего, еще снизится (на 25-50 б.п. от текущих уровней). Также мы не исключаем в январе и феврале дальнейшее укрепление рубля (из-за сезонного спада импорта), но весьма умеренными темпами (на 0,5-1 руб. от текущих уровней). Потенциал для укрепления ограничен низким запасом валютных активов у банков, а также вероятным повышением спроса корпоративного сектора на иностранные активы (из-за повышения долларовой ставки). ЦБ умеренно изымает ликвидность в преддверии налоговых выплат Лимит на сегодняшнем депозитном аукционе увеличен до 720 млрд руб. (против 600 млрд руб. на прошлой неделе). Столь высокий объем средств, который ЦБ ожидает изъять из системы, полностью объясняется притоком ликвидности за счет автономных факторов, прогнозируемым регулятором: с одной стороны, большая часть средств высвобождается вследствие погашения недельного депозита прошлой недели (630 млрд руб.), а с другой – приток ликвидности обеспечит бюджет (90 млрд руб.) и снижение наличности в обращении (44 млрд руб.). Отметим, что уровень корсчетов хотя и снижается в последние дни, все еще остается повышенным (2,2 трлн руб.), соответственно, у банков сохраняется возможность для его снижения. В этой связи тот факт, что ЦБ в рамках депозитного аукциона изымает лишь необходимый минимум (дает возможность пролонгировать недельный депозит и изымает приток ликвидности от бюджета и наличности), а не действует более агрессивно, может быть сигналом того, что регулятор не спешит оказывать повышательное давление на ставки МБК, учитывая приближение налогового периода. На начало недели RUONIA уже подросла до уровней, близких к ключевой ставке (10,06%), и скорее всего вряд ли опустится ниже этих уровней ближайшие дни.

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14 января, 10:00

A grand investment idea from Kevin McCloud, but it’s not without its risks

The TV presenter is behind a mini-bond launch seeking backing for social and environmental housing schemesWould you be tempted to sign up for an investment offering an 8% return if Grand Designs frontman Kevin McCloud was involved in it?The Channel 4 presenter and designer is director of a company that has launched a £3m “mini-bond” scheme, which is basically a way of raising money from private investors. This one is targeting people looking for something “social and environmental” as well as a decent interest rate. Continue reading...

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12 января, 05:28

A look back at the 2016 Public Relations Winners and Losers

Colin Kaepernick: The political and social climate and rhetoric in the US has been more divisive this past year than any other in recent memory. Utilizing social media and organizing nation-wide protests, more Americans - particularly minorities and the underserved - are waking up to, exposing, rejecting, and fighting against the structural inequalities and widespread injustices that still plague our country. From actors to athletes, celebrities across the spectrum have leveraged their platform to speak out against these injustices, but perhaps no other has raised more discussion this past year than Colin Kaepernick. Once the 49ers star quarterback, Colin has become more known for his political activism than his prowess on the field. His national anthem protest, in which he kneels during the national anthem at the start of games to protest police brutality against black Americans and other people of color, has garnered both support and harsh criticism. Other NFL players and professional athletes have joined in Kaepernick's protest, including the Seattle Seahawks and US women's soccer team player Megan Rapinoe. Verdict: Winner. His public and unbowed commitment to the cause has expanded beyond the protest. Soon after the beginning of his protest, his jerseys became the top sellers in the NFL. He has since promised (and begun) to donate $100K per month for the next ten months to community organizations focused on ending racial inequality and oppression, working towards police reform, and aiding with community engagement and growth. All donated funds can be tracked on Kaepernick's website. He organized and hosted a "Know Your Rights" camp to educate underprivileged Bay Area children about their rights as citizens, financial literacy, health and wellness, and higher education. Samsung: After reclaiming the number one spot as top smartphone maker in 2015, Samsung seemed poised to continue its dominance into 2016 with the new Galaxy Note 7. Water resistant, armed with an iris scanner, and bolstered by successful viral marketing campaigns featuring Oscar winner Christoph Waltz and rapper Lil Wayne, the Galaxy Note 7 looked like the It phone for 2016. Then they started exploding. Between the unveiling of the phone in August to the suspension of production and subsequent recall in October, Samsung fielded over 90 incidents of catastrophic phone failure as a result of defective batteries overheating, exploding, and causing fires in homes, cars, hotel rooms, and even planes. While the tech giant attempted to rectify the situation through a series of recalls and exchange programs (even offering full refunds and incentives for returns on the $850 device), bans placed on the phones by government regulators and consumer protection groups forced them to recall all 2.5 million phones worldwide to the tune of a loss of $2B USD. Verdict: Loser. Samsung's inability to effectively fix the problem as soon as it surfaced, including issuing new phones that displayed the same faulty (and explosive) battery issues as those replaced, coupled with unfortunate timing (with the first reports of explosions appearing just days before the unveiling of Apple's competing iPhone 7), ultimately resulted in one of the biggest financial and reputational blows to a tech company in recent memory. Leslie Jones: Being subjected to online hate is an unfortunate side-effect of reaching any kind of celebrity status - especially if you happen to be a woman. The SNL comedian learned just how dark the online world can be when she was subjected to abhorrent abuse and a series of cyber attacks following her turn as Patty Tolan in the 2016 reboot of the Ghostbusters franchise. Unfortunately, it's not surprising that many will stop at nothing to punish someone for having the gaul to be a successful black woman. Lack of shock aside, the level of vitriol faced by Jones reached new heights. The announcement of an all-female reboot of the franchise - starring some of the biggest names in comedy - was quickly met with virulent misogyny and racism masquerading as the mere pushback of concerned "fans." Hoards of angry, primarily young white men lashed out against the offense of having women star in a popular franchise reboot (the entitlement was palpable), with the trailer becoming one of the most disliked videos on Youtube (ever). Leslie, as the only black woman in the cast, bore even greater amounts of vitriol, bombarded with taunts, physical threats of violence, and abuse based on both her race and gender. Following this, Jones (understandably needing a reprieve from the abuse) briefly quit Twitter before making an applauded comeback (receiving an outpouring of love and support from celebrity friends and the general public alike) after meeting with Twitter founder Jack Dorsey. Following their meeting, Dorsey took some of Twitter's first ever serious action against the abuse that runs rampant on its platform by banning some of the microblogging site's most notorious and vile trolls. Verdict: Winner. Despite enduring maddening and disgusting levels of abuse and invasion, Leslie Jones managed to not only rise above, but to also utilize her platform to push forward some much-needed change. Moreover, after returning to Twitter, her comedic tweets on the 2016 Olympics were so popular that she was invited to be an NBC special commentator covering swimming, gymnastics, and beach volleyball. Since the hack, she's been featured on each episode of Saturday Night Live, while also landing an advertising campaign with Allstate. Following the hack of her website, she stuck to her guns and addressed the trolls in a hilarious and empowering SNL Weekend Update segment. She stood up for herself, controlled the narrative, and served as an inspiration for countless others while staying funny as hell doing it (and to no surprise, she continues to be a highly successful, absolutely hilarious, and ever popular comedian and actor). Pokemon/Nintendo: Nintendo massively cashed in on the nostalgia trend in the entertainment industry this year with the release of its mobile app, Pokemon Go, in which it brought one of its most popular franchises to phones worldwide. The augmented reality game uses smartphone's GPS technology to allow players to seek out, collect, and train Pokemon at locations in the real world (with the pocket monsters appearing on their screens). One of the most downloaded (over 500 million worldwide) and most profitable ($600M in revenue as of late 2016) mobile applications ever, Pokemon Go brought the franchise back to heights of ubiquity last seen in the early aughts. An absolute cultural phenomenon since its release in July 2016, Pokemon Go managed to: catch criminals, support local businesses, bring players closer to God (whoever you praise) and one another, kickstart weight-loss goals, be featured in an MMA bout, and appear on the campaign trail. Of course, as with any craze there were a few negative stories, but certainly not enough to dissuade Nintendo from transforming another one of its legendary titles into a mobile application with the release of its latest record-breaking app. Verdict: Winner. By capitalizing on our love of nostalgia (the trend of reboots, rehashes and revisits doesn't seem to be going away anytime soon), Pokemon Go was a perfect addition to the Pokemon franchise (and one that has certainly found itself a home in pop-culture history). Seamlessly blending new technology with a beloved franchise, Pokemon Go revitalized the Nintendo brand, bringing in a newer and younger audience while also engaging with longtime fans who had been with the series since its inception. President Obama: With his approval rating at a four-year high, it's fair to say that President Obama will go down as a not just a good, but a truly great president. At the end of his historic presidential run, President Obama has reached his highest approval rating since 2012, with more Americans feeling confident about his job performance as President as well as how his legacy will be remembered by history and perceived by future generations. He dealt with a tough and tumultuous (but often promising) second term that saw the deadliest mass shooting in US history, the proliferation and spread of the Islamic State, a government shutdown, the passing of the Universal Healthcare Act, and increased diversity in the federal government. Through the highs and lows, Obama has still managed (and deservedly so) to maintain and inspire confidence in the American people as well as the world abroad. With a 57% approval rating at the end of his second term, he's seen a massive upswing from December 2012, when his rating languished at 40% in some national polls. Perhaps it's due to this very emotionally and mentally draining election cycle or the knowledge that the incoming President lost the popular vote by almost 3 million votes, but the American people are really appreciating these last few months of the Obama presidency (and mourning their passing). Verdict: Winner. Regardless of personal political beliefs, Obama has been a truly great President, and there is no doubt that history will remember him as such. When he took office eight years ago, our nation was in the midst of the greatest economic crisis since the Great Depression - there were no jobs, banks were failing after running roughshod over the general population, the auto industry was failing, and the country was in disarray. We needed hope, and Obama brought that and so much more throughout his presidency. Our economy is flourishing, consumer confidence is at it's highest level since 2001, we're no longer at war, and despite all of the negativity and turmoil, we are still optimistic about the future. Donald Trump: Despite winning the electoral vote, President-elect Trump lost the popular vote. The official numbers are in and nearly 3M more Americans voted for Hillary Clinton for President (giving her 48.2% of the popular vote to his 46.1%). Now he has to do one of the most strenuous jobs on Earth, with no experience that the majority didn't actually vote for. Good luck with that. And I do mean, good luck. Politics aside, all of us who didn't vote for Trump have to hope for the well being of the country. I'd love to be wrong. That said, Donald Trump is entering office with a favorability rating of 44% before his first official presidential tweet. Where's that favorability rating going to go next? And I do want to be wrong here. Badly. Since winning the election on November 8th, the President-Elect hasn't slowed down his assault, and it's seems difficult to fathom that it won't fall short of expectations placed upon the Presidency. He shirks intelligence briefings and uses his Twitter as a personal diary/bulletin board to air out his middle of the night grievances, go on wild tirades, and defend his often sensitive ego. And while no one knows exactly what his policy stances are (as they seem to change with the weather), it's probably a good bet that they'll do little to help the poor and middle-class (which unfortunately include many of those who most-vehemently supported him). Verdict: I'm pleading the fifth. I never thought Trump actually wanted this job. Despite winning the election, Trump did in fact lose the actual popular vote. Regardless of how much he tries to deny that, he now has to take on one of the most difficult, strenuous, and thankless jobs there is, all while knowing that the popular vote and majority of Americans didn't actually support him. I'd bet he would have preferred to have won that popular vote but lose the election (à la Hillary) so he could continue to point out how "rigged' the system is. Instead, he's now facing the reality of being held to a much different standard - the President of the United States simply cannot afford to be anything but poised and adeptly diplomatic. The global-scale embarrassment the country stands to face is, well, "unpresidented." Donald Trump is the next President. While I'm going to be an optimist and root for a successful term, I do strongly believe that we should all be more politically vigilant and active. Inform yourself, know his policies and stances, and keep the administration accountable. Call your Senators and other elected representatives, write to Congress, and please do vote in local, state, and midterm elections. #Onward and #Upward -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

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10 января, 23:00

Ancestry.com DNA Database Tops 3M, Sales Rise To $850M Ahead Of Likely 2017 IPO

Ancestry's DNA kit sales have grown hand-in-hand with its core genealogy research subscriptions, putting the profitable company on a path to its second IPO

10 января, 11:44

The sterling conundrum

Yesterday’s early weakness in sterling, on the back of the latest comments from PM May surrounding Brexit, took cable close to key support levels and the resilience seen through most of the post US election period has been unwound. You can see that better illustrated on EURGBP, where we have seen all of the move down to near the 0.83 level unwound as the cross has pushed above 0.87 to pre-election levels. The conundrum is between the uncertainties created by Brexit, against the fact that sterling has already weakened substantially over the past twelve months, making it look far more attractive from a valuation perspective, especially with cable trading near to levels last seen thirty or more years ago. In this context, it’s perhaps not surprising that we’ve see a divergence between 3M volatilities in cable and EURUSD, with expectations of future volatility in cable rising, the same measure for the euro falling. It’s hard to see calmer see for Cable, especially with this quarter seeing the anticipated triggering of Article 50 and possible parliament ratification of the Brexit decision, should the Supreme Court appeal not go the government’s way. Overnight, we’ve seen mixed inflation data from China, with headline consumer prices falling to 2.1% (from 2.3%) on annualised measure, whilst PPI (largely commodity prices) rising further to 5.5% (from 3.3% previously). The data is indicative of more prices pressures to come, but for now the yuan has remained relatively stable after the increased volatility seen last week. Attention is turning towards Trump’s scheduled news conference tomorrow and the prospect of getting statements of more than 140 characters, this coming after Obama’s scheduled farewell speech today and the inauguration of Trump next week. As discussed yesterday, it’s pretty clear that we are seeing a stalling of dollar momentum, so the question is whether Trump can put further wind into the sails over the coming week. It could prove to be a hard task. Otherwise, the data calendar is on the light side today.

10 января, 11:44

The sterling conundrum

Yesterday’s early weakness in sterling, on the back of the latest comments from PM May surrounding Brexit, took cable close to key support levels and the resilience seen through most of the post US election period has been unwound. You can see that better illustrated on EURGBP, where we have seen all of the move down to near the 0.83 level unwound as the cross has pushed above 0.87 to pre-election levels. The conundrum is between the uncertainties created by Brexit, against the fact that sterling has already weakened substantially over the past twelve months, making it look far more attractive from a valuation perspective, especially with cable trading near to levels last seen thirty or more years ago. In this context, it’s perhaps not surprising that we’ve see a divergence between 3M volatilities in cable and EURUSD, with expectations of future volatility in cable rising, the same measure for the euro falling. It’s hard to see calmer see for Cable, especially with this quarter seeing the anticipated triggering of Article 50 and possible parliament ratification of the Brexit decision, should the Supreme Court appeal not go the government’s way. Overnight, we’ve seen mixed inflation data from China, with headline consumer prices falling to 2.1% (from 2.3%) on annualised measure, whilst PPI (largely commodity prices) rising further to 5.5% (from 3.3% previously). The data is indicative of more prices pressures to come, but for now the yuan has remained relatively stable after the increased volatility seen last week. Attention is turning towards Trump’s scheduled news conference tomorrow and the prospect of getting statements of more than 140 characters, this coming after Obama’s scheduled farewell speech today and the inauguration of Trump next week. As discussed yesterday, it’s pretty clear that we are seeing a stalling of dollar momentum, so the question is whether Trump can put further wind into the sails over the coming week. It could prove to be a hard task. Otherwise, the data calendar is on the light side today.

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10 января, 03:01

UK throwing away £13bn of food each year, latest figures show

Waste and recycling advisory body says 4.4m tonnes of household food waste thrown away in 2015 could have been eatenUK households binned £13bn worth of food in 2015 that could have been eaten, according to new figures which suggest that progress in reducing the national food waste mountain has stalled. Despite concerted efforts to reduce food waste through the entire supply chain, a new national update from the waste and recycling advisory body Wrap revealed that an estimated 7.3m tonnes of household food waste was thrown away in 2015 – up from 7m tonnes in 2012. Continue reading...

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09 января, 17:27

Meryl Streep, Drew Barrymore, Lily Collins Wear $3M, 300 Carats of Harry Winston Jewelry at Awards

At last night's Golden Globe Awards, following in a long tradition to "dress the stars," top jewelry brands walked the Red Carpet.Meryl Streep and Drew Barrymore donned more than $3 Million of Harry Winston jewelry, while other stars like Natalie Portman and Matt Damon wore Tiffany and Piaget.

09 января, 16:07

Breaking Free Of The Trump Trap

As progressives rally to resist him, Trump is building support in key swing states by fighting for American jobs. He is using the bully pulpit to pressure manufacturers to keep jobs here rather than relocating them to low-wage areas. The list of Trump target companies is growing ― Carrier, Rexnord, Ford, GM, Toyota ―- with no end in sight. His message is clear ― either make the product in the U.S. or we’ll slap a major tariff on the product if you try to import it back into the U.S. Progressives are flummoxed about how to respond. Some argue that these Trump moves are nothing but phony PR stunts: Carrier was a bribe, Ford wasn’t moving the jobs anyway and so on. New York Times columnist Paul Krugman is leading this charge: In other words, it may have sounded as if Mr. Trump was doing something substantive by intervening with Carrier [and Ford], but he wasn’t. This was fake policy — a show intended to impress the rubes, not to achieve real results. But those “rubes” (dictionary definition, “country bumpkins”) who believe their jobs were actually saved, “lined up on the factory floor [and] cheered the news [of a new $700 million investment at the Flat Rock Michigan Ford facility.] United Auto Workers Vice President Jimmy Settles, the union’s chief negotiator for Ford, told workers he cried when he heard about the investment,” reports ABC News. Krugman correctly points out the number of jobs saved by Trump’s tweets is miniscule, but again he is far too dismissive of the workers involved: Can political pressure change G.M.’s strategy? It hardly matters: Case-by-case intervention from the top is never going to have a significant impact on a $19 trillion economy. By saying “it hardly matters” Krugman, along with many progressives, are falling right into the Trump Trap: Either they give some credit to Trump’s efforts to keep jobs in the U.S., or they ridicule him for trying to do so, and thereby appear not to care about the real flesh and blood workers whose jobs actually are saved. The net result is that Trump is fully capturing the trade/jobs issue. He can claim that he alone is rewriting the rules of trade and forcing companies to keep jobs here. If progressives don’t wake up soon, we can kiss goodbye to Pennsylvania, Ohio, Michigan, Iowa and Wisconsin four years from now. It wasn’t always this way When the deindustrialization process first began in the 1980s to undermine manufacturing, hundreds of progressive activist groups fought to keep manufacturing facilities from leaving. They tried boycotts, worker buyouts, and even sit-ins. The tactics got more and more creative and the energy put forth by progressives of all stripes was impressive. Collectively, they called for a new industrial policy that would rebuild the manufacturing sector and save decent paying jobs, much as Germany had done. The Labor Institute where I work was drafted in one such struggle in 1985 at a 3M facility in Freehold, N.J.. The local union president, Stanley Fisher, asked us to write to Bruce Springsteen in their behalf. Springsteen, who had just recorded “My Hometown,” (a song about a plant closing in the very same town) responded positively. Over the next year he would donate money, perform for the workers at the Stone Pony in Asbury Park, and provide public support including a support ad with Willie Nelson in the New York Times. This star power turned that struggle into a massive publicity campaign against 3M. Thanks to Fisher’s tireless efforts, we also reached out to Black 3M workers in South Africa ― then still an Apartheid state ― who courageously staged a half-day strike in behalf of the mostly white New Jersey 3M workers. But the campaign ended like so many others: 3M closed the facility. The main point is this: the fight against plant closings by any and all means necessary has always been a progressive cause. It should be again. What happened? Neoliberalism happened. By the time Bill Clinton was elected president both political parties had imbibed the Kool-Aid of tax cuts, deregulation, reductions in government social spending and the undermining of unions. So-called “free-trade” agreements were the centerpiece of the new neoliberal order. All boats were supposed to rise. But instead of good paying jobs, neoliberalism created runaway inequality with no end in sight. The biggest victims were the poor in declining urban areas, displaced manufacturing workers, and Mexican farmers. Unions that represented manufacturing workers (like the United Steelworkers, the United Autoworkers and the Communications Workers of America) fought like hell against these trade agreements and took every opportunity to protest against unfair trade. But enough Democrats always sided with the Republicans to pass NAFTA and other corporate-friendly trade measures. Meanwhile U.S. manufacturing fell from 20.1 percent of all jobs in 1980 to only 8.8 percent by 2013. All along, pundits and academics never tired of telling us that it was inevitable. Erroneously, they said the job loss was really caused by automation and skills mismatches between dislocated workers and the new jobs that supposedly were waiting to be filled. Few bothered to look at Germany which has at least the same level of technology but instead developed a booming manufacturing sector. (See here) Instead both political parties placed all their bets on the rise of high finance. Deregulating Wall Street would make our IRAs and pensions soar (and fill party campaign coffers as well.) It would build a new service economy and lead the U.S. into a new era of prosperity. You know what happened. Unfortunately, the neoliberal order impacted the work of progressives as well. Working class issues became less important as organizational silos were created around identity and environmental issues. Philanthropic funding for plant closings fights waned. And as good working class jobs become increasingly insecure, manufacturing workers feared that the fight against climate change could cost them their jobs. Enter Trump Progressives are struggling to understand what went wrong: Was it the Russians hackers? the FBI surprise? the electoral college? racism, sexism, and xenophobia? Even taken together, these factors do not sufficiently account for how poorly Clinton underperformed Obama: minus 290,000 votes in Pennsylvania, minus 222,000 votes in Wisconsin and a whopping minus 500,000 votes in Michigan. It’s difficult to claim that all those who switched from Obama to Trump were racists, misogynists, etc. The alternative account is that the neoliberal Democratic Party, exemplified by Hillary, had done nothing to save manufacturing jobs (except the GM bailout during the crash). Worse still, Obama, the party’s leader, was pushing hard for another corporate-friendly trade bonanza (the Trans-Pacific Partnership Act), and everyone knew Hillary was for it before she was against it. The election might have turned out very differently if Obama had spent the last eight years blasting the likes of GM, Ford, Carrier and hundreds of other companies for shipping good paying jobs to Mexico. It would have helped if the Democrats had proposed legislation to prevent the off-shoring of good manufacturing jobs. But Obama and the Democratic Party establishment sipped from the same neo-liberal Kool-Aid: They believed in the blessings of corporate trade, and too many working people believed they were wrong. Jobs for poor Mexican workers versus jobs for higher paid U.S. workers? The abdication of the jobs issue to Trump also is connected to the mistaken notion that protecting jobs in the U.S. harms low income people in developing countries like Mexico. But NAFTA has failed to help impoverished factory workers and farmers in Mexico, reports the New York Times. It is painfully obvious that the threat of factory relocations has harmed the bargaining power of workers here and abroad. The big NAFTA winners are financial and corporate elites. How to break free from the Trump Trap 1. Recognize the scope of the problem: The first step is to understand that the off-shoring of jobs to low wage areas is an enormous problem. “Somewhere between 22 and 29 percent of all U.S. jobs are, or will be, potentially off-shorable within a decade or two,” reports Princeton economist Alan Blinder. It is very telling that the government does not keep separate off-shoring data so we don’t know exactly how many layoffs are caused by moving jobs abroad. But it is undoubtedly the case that hundreds of thousands of working people are finding out each year that their jobs will be leaving the U.S. to lower wage areas. 2. Renounce the free movement of capital: We need to challenge capital mobility ― the neoliberal holy sacrament that claims nothing ever should limit the ability of capital to move whenever and wherever it wants. Over 40 years ago, Nobel laureate James Tobin argued that this would inevitably lead to the destruction of social programs and the downward pressure of wages. He was right then and still is. We need to say loud and clear that corporations and their Wall Street puppeteers, shall not be allowed to simply pick up and go to another country for the purpose of securing lower wages and fewer health, safety and environmental regulations. There is nothing sacred about the free flow of capital when it devastates community after community. 3. Organize those threatened with off-shoring: Our job is to reach those workers ― millions of them ― with a very simple message: We demand that Donald Trump and Congress save our jobs as well. This is a golden opportunity for progressive organizing. Unions and community groups should locate these workers, encourage them to sign petitions, recruit them to show up at Trump events, picket the White House, pressure their congressional representatives and fight for their jobs. Also, support should be built for the kind of anti-offshoring legislation Sanders is offering in the Senate. 4. Off-shoring as an environmental issue. Moving jobs to low-wage areas inevitably means moving towards lower regulatory environments. The factories in China, Mexico and Vietnam do not have anything like the environmental and health/safety protections found in the U.S. So not only are we off-shoring jobs, but we are off-shoring pollution, especially carbon emissions. In addition, by shifting jobs abroad and then re-importing the goods back to the U.S., the extra transportation increases the carbon footprint of each product. In short, if you care about climate change, you have to care about the off-shoring of U.S. jobs. For the first time since neoliberalism infected the minds of the political and media establishments, the issue of off-shoring is on the national agenda. This is the ideal time for unions and progressive organizations to mobilize impacted workers and raise hell. Resisting Trump is not enough. We have to build a national movement to reclaim the off-shoring issue as our own. Millions of working people and their communities are waiting for leadership. If we don’t provide it, Trump will. (This piece was originally produced for Alternet.org) Les Leopold, the director of the Labor Institute, is currently working with unions and community organizations to build the educational infrastructure of a new anti-Wall Street movement. His new book Runaway Inequality: An Activist Guide to Economic Justice serves as a text for this campaign. All proceeds go to support these educational efforts.   -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

09 января, 16:07

Breaking Free Of The Trump Trap

As progressives rally to resist him, Trump is building support in key swing states by fighting for American jobs. He is using the bully pulpit to pressure manufacturers to keep jobs here rather than relocating them to low-wage areas. The list of Trump target companies is growing ― Carrier, Rexnord, Ford, GM, Toyota ―- with no end in sight. His message is clear ― either make the product in the U.S. or we’ll slap a major tariff on the product if you try to import it back into the U.S. Progressives are flummoxed about how to respond. Some argue that these Trump moves are nothing but phony PR stunts: Carrier was a bribe, Ford wasn’t moving the jobs anyway and so on. New York Times columnist Paul Krugman is leading this charge: In other words, it may have sounded as if Mr. Trump was doing something substantive by intervening with Carrier [and Ford], but he wasn’t. This was fake policy — a show intended to impress the rubes, not to achieve real results. But those “rubes” (dictionary definition, “country bumpkins”) who believe their jobs were actually saved, “lined up on the factory floor [and] cheered the news [of a new $700 million investment at the Flat Rock Michigan Ford facility.] United Auto Workers Vice President Jimmy Settles, the union’s chief negotiator for Ford, told workers he cried when he heard about the investment,” reports ABC News. Krugman correctly points out the number of jobs saved by Trump’s tweets is miniscule, but again he is far too dismissive of the workers involved: Can political pressure change G.M.’s strategy? It hardly matters: Case-by-case intervention from the top is never going to have a significant impact on a $19 trillion economy. By saying “it hardly matters” Krugman, along with many progressives, are falling right into the Trump Trap: Either they give some credit to Trump’s efforts to keep jobs in the U.S., or they ridicule him for trying to do so, and thereby appear not to care about the real flesh and blood workers whose jobs actually are saved. The net result is that Trump is fully capturing the trade/jobs issue. He can claim that he alone is rewriting the rules of trade and forcing companies to keep jobs here. If progressives don’t wake up soon, we can kiss goodbye to Pennsylvania, Ohio, Michigan, Iowa and Wisconsin four years from now. It wasn’t always this way When the deindustrialization process first began in the 1980s to undermine manufacturing, hundreds of progressive activist groups fought to keep manufacturing facilities from leaving. They tried boycotts, worker buyouts, and even sit-ins. The tactics got more and more creative and the energy put forth by progressives of all stripes was impressive. Collectively, they called for a new industrial policy that would rebuild the manufacturing sector and save decent paying jobs, much as Germany had done. The Labor Institute where I work was drafted in one such struggle in 1985 at a 3M facility in Freehold, N.J.. The local union president, Stanley Fisher, asked us to write to Bruce Springsteen in their behalf. Springsteen, who had just recorded “My Hometown,” (a song about a plant closing in the very same town) responded positively. Over the next year he would donate money, perform for the workers at the Stone Pony in Asbury Park, and provide public support including a support ad with Willie Nelson in the New York Times. This star power turned that struggle into a massive publicity campaign against 3M. Thanks to Fisher’s tireless efforts, we also reached out to Black 3M workers in South Africa ― then still an Apartheid state ― who courageously staged a half-day strike in behalf of the mostly white New Jersey 3M workers. But the campaign ended like so many others: 3M closed the facility. The main point is this: the fight against plant closings by any and all means necessary has always been a progressive cause. It should be again. What happened? Neoliberalism happened. By the time Bill Clinton was elected president both political parties had imbibed the Kool-Aid of tax cuts, deregulation, reductions in government social spending and the undermining of unions. So-called “free-trade” agreements were the centerpiece of the new neoliberal order. All boats were supposed to rise. But instead of good paying jobs, neoliberalism created runaway inequality with no end in sight. The biggest victims were the poor in declining urban areas, displaced manufacturing workers, and Mexican farmers. Unions that represented manufacturing workers (like the United Steelworkers, the United Autoworkers and the Communications Workers of America) fought like hell against these trade agreements and took every opportunity to protest against unfair trade. But enough Democrats always sided with the Republicans to pass NAFTA and other corporate-friendly trade measures. Meanwhile U.S. manufacturing fell from 20.1 percent of all jobs in 1980 to only 8.8 percent by 2013. All along, pundits and academics never tired of telling us that it was inevitable. Erroneously, they said the job loss was really caused by automation and skills mismatches between dislocated workers and the new jobs that supposedly were waiting to be filled. Few bothered to look at Germany which has at least the same level of technology but instead developed a booming manufacturing sector. (See here) Instead both political parties placed all their bets on the rise of high finance. Deregulating Wall Street would make our IRAs and pensions soar (and fill party campaign coffers as well.) It would build a new service economy and lead the U.S. into a new era of prosperity. You know what happened. Unfortunately, the neoliberal order impacted the work of progressives as well. Working class issues became less important as organizational silos were created around identity and environmental issues. Philanthropic funding for plant closings fights waned. And as good working class jobs become increasingly insecure, manufacturing workers feared that the fight against climate change could cost them their jobs. Enter Trump Progressives are struggling to understand what went wrong: Was it the Russians hackers? the FBI surprise? the electoral college? racism, sexism, and xenophobia? Even taken together, these factors do not sufficiently account for how poorly Clinton underperformed Obama: minus 290,000 votes in Pennsylvania, minus 222,000 votes in Wisconsin and a whopping minus 500,000 votes in Michigan. It’s difficult to claim that all those who switched from Obama to Trump were racists, misogynists, etc. The alternative account is that the neoliberal Democratic Party, exemplified by Hillary, had done nothing to save manufacturing jobs (except the GM bailout during the crash). Worse still, Obama, the party’s leader, was pushing hard for another corporate-friendly trade bonanza (the Trans-Pacific Partnership Act), and everyone knew Hillary was for it before she was against it. The election might have turned out very differently if Obama had spent the last eight years blasting the likes of GM, Ford, Carrier and hundreds of other companies for shipping good paying jobs to Mexico. It would have helped if the Democrats had proposed legislation to prevent the off-shoring of good manufacturing jobs. But Obama and the Democratic Party establishment sipped from the same neo-liberal Kool-Aid: They believed in the blessings of corporate trade, and too many working people believed they were wrong. Jobs for poor Mexican workers versus jobs for higher paid U.S. workers? The abdication of the jobs issue to Trump also is connected to the mistaken notion that protecting jobs in the U.S. harms low income people in developing countries like Mexico. But NAFTA has failed to help impoverished factory workers and farmers in Mexico, reports the New York Times. It is painfully obvious that the threat of factory relocations has harmed the bargaining power of workers here and abroad. The big NAFTA winners are financial and corporate elites. How to break free from the Trump Trap 1. Recognize the scope of the problem: The first step is to understand that the off-shoring of jobs to low wage areas is an enormous problem. “Somewhere between 22 and 29 percent of all U.S. jobs are, or will be, potentially off-shorable within a decade or two,” reports Princeton economist Alan Blinder. It is very telling that the government does not keep separate off-shoring data so we don’t know exactly how many layoffs are caused by moving jobs abroad. But it is undoubtedly the case that hundreds of thousands of working people are finding out each year that their jobs will be leaving the U.S. to lower wage areas. 2. Renounce the free movement of capital: We need to challenge capital mobility ― the neoliberal holy sacrament that claims nothing ever should limit the ability of capital to move whenever and wherever it wants. Over 40 years ago, Nobel laureate James Tobin argued that this would inevitably lead to the destruction of social programs and the downward pressure of wages. He was right then and still is. We need to say loud and clear that corporations and their Wall Street puppeteers, shall not be allowed to simply pick up and go to another country for the purpose of securing lower wages and fewer health, safety and environmental regulations. There is nothing sacred about the free flow of capital when it devastates community after community. 3. Organize those threatened with off-shoring: Our job is to reach those workers ― millions of them ― with a very simple message: We demand that Donald Trump and Congress save our jobs as well. This is a golden opportunity for progressive organizing. Unions and community groups should locate these workers, encourage them to sign petitions, recruit them to show up at Trump events, picket the White House, pressure their congressional representatives and fight for their jobs. Also, support should be built for the kind of anti-offshoring legislation Sanders is offering in the Senate. 4. Off-shoring as an environmental issue. Moving jobs to low-wage areas inevitably means moving towards lower regulatory environments. The factories in China, Mexico and Vietnam do not have anything like the environmental and health/safety protections found in the U.S. So not only are we off-shoring jobs, but we are off-shoring pollution, especially carbon emissions. In addition, by shifting jobs abroad and then re-importing the goods back to the U.S., the extra transportation increases the carbon footprint of each product. In short, if you care about climate change, you have to care about the off-shoring of U.S. jobs. For the first time since neoliberalism infected the minds of the political and media establishments, the issue of off-shoring is on the national agenda. This is the ideal time for unions and progressive organizations to mobilize impacted workers and raise hell. Resisting Trump is not enough. We have to build a national movement to reclaim the off-shoring issue as our own. Millions of working people and their communities are waiting for leadership. If we don’t provide it, Trump will. (This piece was originally produced for Alternet.org) Les Leopold, the director of the Labor Institute, is currently working with unions and community organizations to build the educational infrastructure of a new anti-Wall Street movement. His new book Runaway Inequality: An Activist Guide to Economic Justice serves as a text for this campaign. All proceeds go to support these educational efforts.   -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

09 января, 06:03

Marmon-Herrington. Все, что вы хотели узнать

Если немножечко углубиться в историю американского танкостроения, то рано или поздно наткнешься на дивное и переливчатое название - «Мармон-Херрингтон». Не сказать, чтобы очень уж мелодичное, но интригующее. Особенно интригует тем, что и танки они делали, и бронеавтомобили, а какие, когда и сколько - непонятно. Ну, думаешь, потом как-нибудь разберусь... Но доколе откладывать? Вот оно, это «потом». Итак, позвольте представить вашему вниманию - история американской семьи Мармон и инженера-конструктора Артура Херрингтона.

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08 января, 15:44

Nearly 3m UK couples missing out on free tax break

HMRC campaign bids to reverse low take-up on George Osborne tax break worth up to £220 a yearMore than 2.9 m couples across the UK are missing out on a free tax break worth up to £220 a year, according to HM Revenue and Customs which has launched a campaign to get more people to apply for its transferrable marriage allowance.Since April 2015, couples in which one person pays no tax because their income is less than the personal allowance – currently £11,000 – have been able to transfer £1,100 of that allowance to their tax-paying partner. Continue reading...

06 января, 21:11

Crystal Palace ready to rival West Ham for Hull’s Robert Snodgrass

• West Ham’s £3m offer for Scotland international was rejected on Friday• Palace also interested in Robbie Brady, James Collins and Jérôme RoussillonCrystal Palace are ready to rival West Ham United’s attempts to sign the Hull City winger Robert Snodgrass, with the Scotland international expected to cost up to £9m despite having just 18 months remaining on his contract.West Ham saw a £3m bid for the 29-year-old rejected on Friday, with Slaven Bilic’s side expected to return with a new offer over the weekend. Sam Allardyce, the Palace manager, is also keen on signing Snodgrass, who refused to sign a new three-year contract at Hull last month, although the club recently triggered a one-year contract extension that means he is tied to the club until the summer of 2018. Continue reading...

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06 января, 19:00

China Box Office: 'Rogue One' Nabs Okay $10.3M Opening Day

If 'Rogue One' has legs in China, it will be because of star power rather than brand interest.

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06 января, 10:33

Lottery windfall stuns office in Australia

Twenty-one government employees claim a lottery jackpot worth A$55m (£32.5m; $40.3m) in Queensland.

06 января, 09:44

Metamason Becomes Fundable Through Application of Design

Co-written by Les Karpas Entrepreneurs thrive on competition and just as in elite sports, "winner takes all." One way of increasing the odds of success for startups is to become design-centric, and designers and design accelerators may offer a viable path. The first tech startup from The Design Accelerator in Pasadena, California, moves into Seed Early Stage after three years in business and over one thousand pitches. Metamason's founder and CEO Les Karpa, reflects on the journey from non-fundable to fundable, applying design strategy from Art Center's College of Design. Les has always been fascinated by the potential for 3D technology to affect design. It wasn't until he realized its potential for revolutionizing medicine, however, that he decided to start his own new entrepreneurial venture. Metamason uses cutting-edge 3D technology to scan, fit and print personalized medical devices. Its flagship product is a custom fit, 3D-printed CPAP mask designed to revolutionize treatment for Obstructive Sleep Apnea--the first of its kind. These customized products are not only beautiful and unique--they can have a massive impact on people's health and longevity. Les was invited to participate in The Design Accelerator (TDA), in the winter of 2013, by Mark Breitenberg, TDA's Co-Founder and then Special Assistant to the President of Art Center College of Design. Not only did Mark provide valuable design strategy input, he also connected Metamason up with a wealth of strong mentors who continue to advise and coach the company today on branding, corporate governance, market positioning, and design. TDA's advisory capacity helped optimize Metamason to make itself palatable to the company's recent Series Seed Investors. Fred Farina and the Office of Technology Transfer at Caltech have also helped Metamason surmount challenging technical hurdles by connecting them with experts in materials science and chemistry, as well as, securing quality interns from Caltech. Most importantly, TDA was instrumental in giving Metamason the momentum to cross 'the chasm' by solidifying a relationship with the Pasadena Angels, from whom he initially raised $220K within the Pre-Seed Friends & Family Round. Metamason then went on to raise $3M in a Series Seed Round in 2016. Karpas took the self-evaluative Founders Assessment on Applied Design Science's online crowdsourcing platform, where he received top marks in design and scored above average as an entrepreneur in the key performance metrics for founders: Self-management, Adaptability, and Grit. The success he achieved in securing initial funding was also evident in his performance in the categories of Design and Combined Risk when we compared it with the averaged assessment scores of three industry experts. These results showed high scores for Metamason in the area of design, and suggested that the company has taken on a somewhat above-average amount of risk for a first-time startup. As such, Metamason more strongly resembles a High-Impact venture than a regular Early Phase Tech venture. Les acknowledges it has been quite a journey from pitching his first conceptual designs to the Pasadena Angels, to holding a fully funded prototype in his hands today. Metamason now holds two patents and clinical trials are underway, with a limited market release scheduled for later this year. Building a startup is far from a solo sport, and being design-centric with a strong Why, How and What has helped galvanize the sustained support of investors and advisors, as well as generate an outpouring of interest and enthusiasm from sleep doctors and patients. Now, Les and his team stand ready to bring the world a truly personalized, life-changing product. Special thanks to Les Karpas for researching and co-writing this article. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.