To counter China, Australia plans $1.5 billion Pacific infrastructure fund

Australia will create a A$2 billion ($1.46 billion) fund to provide loans to Pacific nations to build infrastructure, Prime Minister Scott Morrison is expected to announce on Thursday, as Canberra seeks to counter China’s influence in the region. Australia and China have been vying for influence in sparsely populated Pacific island countries that control vast swathes of resource-rich oceans. To counter, Morrison plans to announce that Australia will renew its focus on the Pacific, primarily thro


Australia will create a A$2 billion ($1.46 billion) fund to provide loans to Pacific nations to build infrastructure, Prime Minister Scott Morrison is expected to announce on Thursday, as Canberra seeks to counter China’s influence in the region. Australia and China have been vying for influence in sparsely populated Pacific island countries that control vast swathes of resource-rich oceans. To counter, Morrison plans to announce that Australia will renew its focus on the Pacific, primarily thro
To counter China, Australia plans $1.5 billion Pacific infrastructure fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: brendon thorne, bloomberg, getty images
Keywords: news, cnbc, companies, 15, morrison, develop, fund, relations, infrastructure, billion, pacific, countries, australia, china, counter, plans


To counter China, Australia plans $1.5 billion Pacific infrastructure fund

Australia will create a A$2 billion ($1.46 billion) fund to provide loans to Pacific nations to build infrastructure, Prime Minister Scott Morrison is expected to announce on Thursday, as Canberra seeks to counter China’s influence in the region.

Australia and China have been vying for influence in sparsely populated Pacific island countries that control vast swathes of resource-rich oceans.

China has spent $1.3 billion on confessional loans and gifts since 2011 to become the Pacific’s second-largest donor after Australia, stoking concern in the West that several tiny nations could end up overburdened and in debt to Beijing.

To counter, Morrison plans to announce that Australia will renew its focus on the Pacific, primarily through a new infrastructure fund.

“This $2 billion infrastructure initiative will significantly boost Australia’s support for infrastructure development in Pacific countries and Timor Leste,” according to a speech Morrison is due to deliver in the state of Queensland and seen by Reuters.

“It will invest in essential infrastructure such as telecommunications, energy, transport, water, and it will stretch our aid dollars further.”

Foreign policy analysts say Australia’s new infrastructure fund will test Australia’s already cool relations with China, its largest trading partner.

“This announcement will be a gauge of whether Australia can improve relations with Beijing while doing things that would have previously annoyed China,” said Nick Bisley, professor of international relations at Melbourne’s La Trobe University.

Ties between the two countries have been strained since Australia accused China of meddling in its domestic affairs late last year.

Australia’s Foreign Minister Marise Payne will on Thursday meet her Chinese counterpart in Beijing, the first visit by a senior Canberra in two years after bilateral relations soured.

Australia has already this year pledged to develop several infrastructure projects in the Pacific but it has been forced to raid its aid budget to fund the projects.

In May, Australia said it would spend about A$200 million to develop an undersea internet cables to Papua New Guinea (PNG) and the Solomon Islands amid national security concerns about China’s Huawei Technologies.

Earlier this month, Australia said it would help PNG develop a naval base, beating out China as a possible partner for the port development.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: brendon thorne, bloomberg, getty images
Keywords: news, cnbc, companies, 15, morrison, develop, fund, relations, infrastructure, billion, pacific, countries, australia, china, counter, plans


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Russia having trouble building hypersonic weapon Putin hyped

he added, noting Moscow’s ambition to develop hypersonic weapons. Read more: Hypersonic weapons: What they are, and why the U.S. can’t defend against themA spokesman for the Pentagon expressed skepticism about Russia’s hypersonic development. The latest revelations come less than eight months after Putin touted his nation’s growing hypersonic arsenal as “invincible.” The hypersonic glide vehicle, dubbed Avangard, was one of the six weapons Putin presented in March. Putin claimed Avangard was cap


he added, noting Moscow’s ambition to develop hypersonic weapons. Read more: Hypersonic weapons: What they are, and why the U.S. can’t defend against themA spokesman for the Pentagon expressed skepticism about Russia’s hypersonic development. The latest revelations come less than eight months after Putin touted his nation’s growing hypersonic arsenal as “invincible.” The hypersonic glide vehicle, dubbed Avangard, was one of the six weapons Putin presented in March. Putin claimed Avangard was cap
Russia having trouble building hypersonic weapon Putin hyped Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: amanda macias, video screen grab, tass, getty images
Keywords: news, cnbc, companies, avangard, weapons, spokesman, run, russia, challenge, hypersonic, having, develop, trouble, speed, weapon, hyped, building, putin


Russia having trouble building hypersonic weapon Putin hyped

Russia expects the carbon fiber components to be produced within 12 months of selection and still expects to meet its 2020 deadline, according to the person.

“It’s intriguing that they continue to run into problems, because they’ve been flight-testing this system for a long time,” said Hans Kristensen, director of the Nuclear Information Project at the Federation of American Scientists.

“They’re running into the same problems that anyone else would run into if they would do this, and it gets back to the issue, of course, how important is this for Russia?” he added, noting Moscow’s ambition to develop hypersonic weapons.

Read more: Hypersonic weapons: What they are, and why the U.S. can’t defend against them

A spokesman for the Pentagon expressed skepticism about Russia’s hypersonic development.

“Obviously, Russian attempts to develop high-tech weaponry is something we watch closely. To this point, however, we’ve seen more grandiose claims of success than actual proof,” said Defense Department spokesman Eric Pahon. “We are continuing to develop our own defensive capabilities and improve readiness for both ourselves and our allies to counter any threats the Russians may develop.”

The latest revelations come less than eight months after Putin touted his nation’s growing hypersonic arsenal as “invincible.”

The hypersonic glide vehicle, dubbed Avangard, was one of the six weapons Putin presented in March. Avangard is designed to sit atop an intercontinental ballistic missile and uses aerodynamic forces to sail on top of the atmosphere.

Putin claimed Avangard was capable of reaching targets at a speed of 20 times the speed of sound and strikes “like a fireball.” He also said that the hypersonic warhead had already entered serial production.

“Certainly, heat management is a huge challenge; you know, you have this thing that is going through the atmosphere at very high speeds and potentially for a long period of time,” said James Acton, co-director of the Nuclear Policy Program at the Carnegie Endowment for International Peace.

“The longer you are in the atmosphere, the more heat you have to manage, and that’s been a huge challenge for the U.S. in hypersonics, and, in part, it’s really a material science challenge,” Acton added, noting the significant costs associated with testing and producing hypersonic weapons.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: amanda macias, video screen grab, tass, getty images
Keywords: news, cnbc, companies, avangard, weapons, spokesman, run, russia, challenge, hypersonic, having, develop, trouble, speed, weapon, hyped, building, putin


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Pot stocks jump after report says Coca-Cola and Aurora in talks to brew marijuana-infused drinks

Aurora Cannabis, a Vancouver, Canada-based cannabis producer, rallied more than 14 percent in early Canadian trading Monday after Canadian news service BNN Bloomberg reported Coca-Cola is in talks with Aurora to develop weed-infused beverages. Any partnership between the two would likely develop health-focused beverages aimed at easing inflammation, pain and cramping, the report said. Other companies with exposure to the cannabis market, including Tilray and Scotts Miracle-Gro, also gained on th


Aurora Cannabis, a Vancouver, Canada-based cannabis producer, rallied more than 14 percent in early Canadian trading Monday after Canadian news service BNN Bloomberg reported Coca-Cola is in talks with Aurora to develop weed-infused beverages. Any partnership between the two would likely develop health-focused beverages aimed at easing inflammation, pain and cramping, the report said. Other companies with exposure to the cannabis market, including Tilray and Scotts Miracle-Gro, also gained on th
Pot stocks jump after report says Coca-Cola and Aurora in talks to brew marijuana-infused drinks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: thomas franck, jason franson, bloomberg, getty images
Keywords: news, cnbc, companies, industry, talks, canadian, market, beverage, develop, jump, drinks, cocacola, brew, stocks, marijuanainfused, trading, pot, report, tilray, beverages, cannabis, aurora


Pot stocks jump after report says Coca-Cola and Aurora in talks to brew marijuana-infused drinks

Marijuana stocks soared Monday after a report yet another beverage giant is looking to get into the industry — and this time it was the biggest beverage company of them all.

Aurora Cannabis, a Vancouver, Canada-based cannabis producer, rallied more than 14 percent in early Canadian trading Monday after Canadian news service BNN Bloomberg reported Coca-Cola is in talks with Aurora to develop weed-infused beverages. Any partnership between the two would likely develop health-focused beverages aimed at easing inflammation, pain and cramping, the report said.

Other companies with exposure to the cannabis market, including Tilray and Scotts Miracle-Gro, also gained on the week’s first day of trading. Tilray climbed 9.7 percent and Scotts added 2.5 percent in U.S. trading. Canopy shares added 3.5 percent in Canadian trading.

Aurora offered the following statement to CNBC:

“Aurora has expressed specific interest in the infused beverage space, and we intend to enter that market. There is so much happening in this area right now and we think it has incredible potential. As a rule, we do not discuss business development initiatives until they are finalized, however we have a responsibility to our shareholders to give proper consideration to all relevant opportunities that are presented.”

Coca-Cola offered this statement:

“Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”

Though the move in marijuana stocks is mostly headline-driven thus far, Coca-Cola wouldn’t be the first beverage titan to test the waters with an investment in a cannabis producer.

Corona beer maker Constellation, for example, upped its bet on the industry last month, announcing an additional $4 billion stake in Canopy Growth. Molson Coors, too, announced in August that its Canadian unit is entering into a deal that will develop cannabis-infused beverages in Canada.

The Denver brewer said Molson Coors Canada is partnering with Canadian cannabis producer The Hydropothecary Corporation (HEXO) to create a joint partnership “to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization.”

Marijuana use in Canada will be legal in mid-October after legislation cleared regulatory hurdles in June.

The headlines have caused these stocks to soar. Canopy shares have doubled this year in Canada. Tilray, which made its debut in July, has more than tripled in the last one month alone.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: thomas franck, jason franson, bloomberg, getty images
Keywords: news, cnbc, companies, industry, talks, canadian, market, beverage, develop, jump, drinks, cocacola, brew, stocks, marijuanainfused, trading, pot, report, tilray, beverages, cannabis, aurora


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Wall Street pros develop fantasy NFL game that allows users to trade athletes like stocks

Two traders have developed a futures market to appeal to fantasy sports junkies and Wall Street lifers who want to bet on professional athletes. Founded by longtime options traders Eric Wilkinson and Wesley Harr, Draft Hedge is a mobile app that offers users a cross between fantasy football and financial markets. The futures pricing is loosely based on fantasy valuations, with players earning points depending on their performance in each game. Known as “The Wolfman” around the Chicago Board of T


Two traders have developed a futures market to appeal to fantasy sports junkies and Wall Street lifers who want to bet on professional athletes. Founded by longtime options traders Eric Wilkinson and Wesley Harr, Draft Hedge is a mobile app that offers users a cross between fantasy football and financial markets. The futures pricing is loosely based on fantasy valuations, with players earning points depending on their performance in each game. Known as “The Wolfman” around the Chicago Board of T
Wall Street pros develop fantasy NFL game that allows users to trade athletes like stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-16  Authors: thomas franck, getty images
Keywords: news, cnbc, companies, stocks, futures, pros, wall, betting, street, worried, nfl, financial, game, going, value, trade, fantasy, wilkinson, traders, users, develop


Wall Street pros develop fantasy NFL game that allows users to trade athletes like stocks

Two traders have developed a futures market to appeal to fantasy sports junkies and Wall Street lifers who want to bet on professional athletes.

Founded by longtime options traders Eric Wilkinson and Wesley Harr, Draft Hedge is a mobile app that offers users a cross between fantasy football and financial markets.

The futures pricing is loosely based on fantasy valuations, with players earning points depending on their performance in each game. Users can buy or sell-short athletes at any time, including the off-season.

“Whether it’s an e-gaming event or whether it’s football or soccer, or baseball – as long as there’s a quantifiable value, we can create futures around that,” Wilkinson told CNBC.

“Analysts are doing the same thing,” he said. “They’re going ‘OK: he’s going to score two touchdowns and 150 yards, and I think this is what his scores are going to be,'” he added. “The overall market probably has a better idea as to what that value is.”

Known as “The Wolfman” around the Chicago Board of Trade, Wilkinson has been trading financial futures, commodities, stocks and options on a variety of products for about 25 years. CNBC viewers may recognize him as the trader who stood next to CNBC’s Rick Santelli during many of his lively appearances from the CME floor.

The CNBC regular also commented on the U.S. Supreme Court’s recent decision to strike down a 1992 federal law that effectively banned commercial sports betting in most states. The ruling sets the stage for the gradual legalization of the millions of dollars of illicit wagers on professional sports Americans make each year.

The trader said that he and Harr were initially worried about the game appearing too much like gambling, and then the court decision came out.

“It was a really big deal for us because we were always thinking that we landed in between financial and betting,” he said. “We were originally worried about our lexicon, whether we ever said betting and things of that nature whereas now we can say whatever we want.”


Company: cnbc, Activity: cnbc, Date: 2018-09-16  Authors: thomas franck, getty images
Keywords: news, cnbc, companies, stocks, futures, pros, wall, betting, street, worried, nfl, financial, game, going, value, trade, fantasy, wilkinson, traders, users, develop


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Saudi stock exchange will continue to develop its markets for Aramco IPO, stock market boss says

The chief executive of Saudi Arabia’s stock exchange told CNBC Wednesday that it is well-placed to cope with the pressures of the world’s largest ever initial public offering (IPO). Saudi Arabia recently shelved plans to sell a 5 percent stake in state-owned energy giant Aramco, reportedly amid valuation and regulatory concerns. So far, Saudi Arabia’s stock market — also known as Tadawul — is the only confirmed listing exchange for Aramco. “I think the Saudi stock exchange will continue to devel


The chief executive of Saudi Arabia’s stock exchange told CNBC Wednesday that it is well-placed to cope with the pressures of the world’s largest ever initial public offering (IPO). Saudi Arabia recently shelved plans to sell a 5 percent stake in state-owned energy giant Aramco, reportedly amid valuation and regulatory concerns. So far, Saudi Arabia’s stock market — also known as Tadawul — is the only confirmed listing exchange for Aramco. “I think the Saudi stock exchange will continue to devel
Saudi stock exchange will continue to develop its markets for Aramco IPO, stock market boss says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-05  Authors: sam meredith, ahmed jadallah
Keywords: news, cnbc, companies, listing, stock, develop, saudi, markets, continue, worlds, public, exchange, boss, aramco, offering, valuation, ipo, told, market


Saudi stock exchange will continue to develop its markets for Aramco IPO, stock market boss says

The chief executive of Saudi Arabia’s stock exchange told CNBC Wednesday that it is well-placed to cope with the pressures of the world’s largest ever initial public offering (IPO).

Saudi Arabia recently shelved plans to sell a 5 percent stake in state-owned energy giant Aramco, reportedly amid valuation and regulatory concerns. Nonetheless, the IPO remains critical to Crown Prince Mohammed bin Salman’s ambitious plan to overhaul the kingdom’s economy.

So far, Saudi Arabia’s stock market — also known as Tadawul — is the only confirmed listing exchange for Aramco.

“I think the Saudi stock exchange will continue to develop its markets to be ready for Aramco and other issues,” Khalid Al Hussan, who heads the exchange, told CNBC’s “Street Signs” on Wednesday.

Saudi Arabia hopes to attract a $2 trillion valuation for Aramco — the world’s largest oil company — though some external observers have pegged its value at half that amount.

Amin Nasser, CEO of Aramco, told CNBC earlier this year that his company was prepared for a public offering in the second half of 2018, but was waiting for the government to choose an exchange. Indecision over the listing venue is widely thought to have snarled the process.


Company: cnbc, Activity: cnbc, Date: 2018-09-05  Authors: sam meredith, ahmed jadallah
Keywords: news, cnbc, companies, listing, stock, develop, saudi, markets, continue, worlds, public, exchange, boss, aramco, offering, valuation, ipo, told, market


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London police develop biometrics device to confirm a suspect’s identity in 60 seconds

London’s Metropolitan Police has developed a mobile fingerprinting device that it says will save time and money. The mobile biometric device is called INK (Identity Not Known) Biometrics, the police force said in a statement Tuesday. It can scan a suspect’s fingerprints and, providing he or she is on a police database, reveal their identity within 60 seconds. The device uses software that is placed on an Android smartphone and then paired with a Crossmatch fingerprint reader. Officers with relev


London’s Metropolitan Police has developed a mobile fingerprinting device that it says will save time and money. The mobile biometric device is called INK (Identity Not Known) Biometrics, the police force said in a statement Tuesday. It can scan a suspect’s fingerprints and, providing he or she is on a police database, reveal their identity within 60 seconds. The device uses software that is placed on an Android smartphone and then paired with a Crossmatch fingerprint reader. Officers with relev
London police develop biometrics device to confirm a suspect’s identity in 60 seconds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-14  Authors: anmar frangoul, ktsdesign, science photo library, getty images
Keywords: news, cnbc, companies, device, met, 60, technology, identity, office, london, confirm, suspect, metropolitan, biometrics, save, develop, seconds, mobile, officers, suspects


London police develop biometrics device to confirm a suspect's identity in 60 seconds

London’s Metropolitan Police has developed a mobile fingerprinting device that it says will save time and money.

The mobile biometric device is called INK (Identity Not Known) Biometrics, the police force said in a statement Tuesday.

It can scan a suspect’s fingerprints and, providing he or she is on a police database, reveal their identity within 60 seconds.

The device uses software that is placed on an Android smartphone and then paired with a Crossmatch fingerprint reader. Using a secure connection, it can communicate with the Biometric Services Gateway, which has been developed by the Home Office. This then searches databases from the Criminal Records Office and immigration enforcement.

If a suspect has a criminal record or is known to immigration enforcement, their identity can be confirmed at the roadside. Officers with relevant clearance are also able to use the device to see if a suspect is wanted for any outstanding offences. Fingerprints recorded on the device are automatically deleted when an officer logs off, the Met said.

“I have always been clear in my ambition to make the best possible use of technology to fight crime,” Metropolitan Police Commissioner Cressida Dick said. “The speed of analysis of information that this device will offer will drive effectiveness and efficiency and allow officers to spend more time in our communities and fighting crime.”

The Met said that similar technology had been used by its officers, and those from other forces, since 2012. The new device is cheaper, meaning that six times as many can be deployed. During the next six months, 600 devices will be sent to frontline officers in London. INK, the Met added, was expected to save an estimated £200,000 ($255,000) in support costs per year.

Follow CNBC International on Twitter and Facebook.


Company: cnbc, Activity: cnbc, Date: 2018-08-14  Authors: anmar frangoul, ktsdesign, science photo library, getty images
Keywords: news, cnbc, companies, device, met, 60, technology, identity, office, london, confirm, suspect, metropolitan, biometrics, save, develop, seconds, mobile, officers, suspects


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Hope for Lyme disease victims: Researchers race to develop new tests — and a vaccine

Blacklegged ticks infected with the Lyme disease bacterium Borrelia burgdorferi are wreaking havoc in the northeastern, mid-Atlantic, and north-central states, as well as the West Coast, particularly in northern California. Lyme disease accounts for more than 80 percent of tick-borne diseases and, even if caught and treated, can cause long-lasting and debilitating symptoms. And last year a French company, Valneva, received fast-track status from the FDA for a vaccine for Lyme disease. Researcher


Blacklegged ticks infected with the Lyme disease bacterium Borrelia burgdorferi are wreaking havoc in the northeastern, mid-Atlantic, and north-central states, as well as the West Coast, particularly in northern California. Lyme disease accounts for more than 80 percent of tick-borne diseases and, even if caught and treated, can cause long-lasting and debilitating symptoms. And last year a French company, Valneva, received fast-track status from the FDA for a vaccine for Lyme disease. Researcher
Hope for Lyme disease victims: Researchers race to develop new tests — and a vaccine Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-07  Authors: susan caminiti, stegerphoto, getty images, mark peterson, pedro castellano, bariscan celik, yvonne hemsey, hulton archive, ullstein bild dtl
Keywords: news, cnbc, companies, researchers, state, quickly, victims, states, develop, prevention, lyme, disease, ticks, tests, reported, diseases, race, say, hope, vaccine


Hope for Lyme disease victims: Researchers race to develop new tests — and a vaccine

In the midst of relaxing summer days and long-awaited vacations, there’s a tiny enemy that’s causing oversize worry: ticks.

Blacklegged ticks infected with the Lyme disease bacterium Borrelia burgdorferi are wreaking havoc in the northeastern, mid-Atlantic, and north-central states, as well as the West Coast, particularly in northern California. Lyme disease accounts for more than 80 percent of tick-borne diseases and, even if caught and treated, can cause long-lasting and debilitating symptoms.

In May the Centers for Disease Control and Prevention reported that the number of people getting diseases from ticks, mosquitoes and fleas has more than tripled in the United States, with more than 640,000 cases reported during the 13 years from 2004 through 2016.

In just the past year, celebrities Kelly Osbourne and The Real Housewives of Beverly Hills star Yolanda Hadid both released memoirs detailing their agonizing struggle with the disease and why it took so long for doctors to diagnose it. In fact, before finally testing positive for Lyme, Osbourne’s doctors told her she had epilepsy.

But there are glimmers of hope, experts say. New tests to more accurately detect Lyme are in the works, including one that uses a urine sample to more quickly detect the presence of the bacteria that causes the disease. And last year a French company, Valneva, received fast-track status from the FDA for a vaccine for Lyme disease.

In the meantime, Lyme is affecting more people and is spreading to more states across the country. If left untreated, the disease can cause fever, fatigue, joint pain and eventually damage to the nervous system and heart. Fourteen states in the Northeast and upper Midwest, including Minnesota, Michigan, Maine and New Hampshire, have the greatest number of reported cases, according to the CDC, but nearly every state has been touched by it.

Researchers at the CDC say there are several reasons why Lyme is on the rise. For starters, we’re a more mobile society. As goods and humans increasingly move around the world, ticks travel with them, introducing the disease to new locales quickly. Couple that with environmental changes, like global warming, and woefully inadequate prevention efforts on both the federal and state level, and it’s no wonder why Amy Schwartz, an epidemiologist with the CDC’s division of vector-borne diseases, said Lyme disease is “not going away anytime soon.”


Company: cnbc, Activity: cnbc, Date: 2018-08-07  Authors: susan caminiti, stegerphoto, getty images, mark peterson, pedro castellano, bariscan celik, yvonne hemsey, hulton archive, ullstein bild dtl
Keywords: news, cnbc, companies, researchers, state, quickly, victims, states, develop, prevention, lyme, disease, ticks, tests, reported, diseases, race, say, hope, vaccine


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McDonald’s and Starbucks team up to develop a more sustainable cup

Fast food rivals Starbucks and McDonald’s are now on the same team — at least when it comes to developing a cup from sustainable materials. On Tuesday, McDonald’s said it would join with Starbucks and Closed Loop Partners to develop a cup that could be mass produced from materials that are recyclable, compostable or both. Starbucks and Closed Loop began a collaboration in March to launch the NextGen Cup Consortium and Challenge. In the U.S., Seattle has already instituted a ban on plastic straws


Fast food rivals Starbucks and McDonald’s are now on the same team — at least when it comes to developing a cup from sustainable materials. On Tuesday, McDonald’s said it would join with Starbucks and Closed Loop Partners to develop a cup that could be mass produced from materials that are recyclable, compostable or both. Starbucks and Closed Loop began a collaboration in March to launch the NextGen Cup Consortium and Challenge. In the U.S., Seattle has already instituted a ban on plastic straws
McDonald’s and Starbucks team up to develop a more sustainable cup Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: sarah whitten, philippe huguen, afp, getty images
Keywords: news, cnbc, companies, team, starbucks, sustainable, cup, singleuse, develop, mcdonalds, nextgen, straws, join, loop, plastic


McDonald's and Starbucks team up to develop a more sustainable cup

Fast food rivals Starbucks and McDonald’s are now on the same team — at least when it comes to developing a cup from sustainable materials.

On Tuesday, McDonald’s said it would join with Starbucks and Closed Loop Partners to develop a cup that could be mass produced from materials that are recyclable, compostable or both.

The partnership comes as the food industry finds itself increasingly under pressure to reduce plastic in packaging and single-use items such as straws.

Starbucks and Closed Loop began a collaboration in March to launch the NextGen Cup Consortium and Challenge. The program kicks off in September and invites innovators, entrepreneurs and other experts to submit their plans. To start, NextGen will focus on creating sustainable fiber-based hot and cold cups before seeking solutions for lids and straws.

The brands estimate that 600 billion cups wind up in landfills each year.

McDonald’s is committing $5 million to the NextGen partnership, matching Starbucks’ pledge. Starbucks also is investing $5 million to join the Closed Loop Fund, which will help fund its infrastructure.

“McDonald’s is committed to using our scale for good to make positive changes that impact our planet and the communities we serve,” Marion Gross, senior vice president and chief supply chain officer at McDonald’s USA, said in a statement.

In the U.S., Seattle has already instituted a ban on plastic straws, utensils and cocktail picks, setting into motion Starbucks’ plan to eliminate single-use plastic straws from all of its cafes globally within the next two years. The company already uses plastic lids nationally for some of its drinks, such as Nitro Cold Brew and any beverages topped with cold foam.

The United Kingdom has also announced plans to ban single-use plastic as early as next year, prompting global companies to look for sustainable alternatives. McDonald’s said in June that it would begin a phased rollout of paper straws in its U.K. and Ireland restaurants in September.

“A better cup will benefit the entire industry and we invite others to join us as we move these efforts forward,” Colleen Chapman, vice president of global social impact at Starbucks, said in a statement.


Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: sarah whitten, philippe huguen, afp, getty images
Keywords: news, cnbc, companies, team, starbucks, sustainable, cup, singleuse, develop, mcdonalds, nextgen, straws, join, loop, plastic


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Rolls-Royce joins the race to develop a flying taxi

Rolls-Royce has taken the wraps off an electric “flying taxi” concept that it claims could be in full production by the early 2020s. Rolls-Royce said it is now looking for partners to build an airframe and develop some of the electrics in readiness for a full commercial version. Rolls-Royce said once cruise height is reached, propellers on the wing fold away to reduce drag and cabin noise. The company said the EVTOL concept could be adapted for personal transport, public transport, logistics or


Rolls-Royce has taken the wraps off an electric “flying taxi” concept that it claims could be in full production by the early 2020s. Rolls-Royce said it is now looking for partners to build an airframe and develop some of the electrics in readiness for a full commercial version. Rolls-Royce said once cruise height is reached, propellers on the wing fold away to reduce drag and cabin noise. The company said the EVTOL concept could be adapted for personal transport, public transport, logistics or
Rolls-Royce joins the race to develop a flying taxi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-16  Authors: david reid
Keywords: news, cnbc, companies, flying, develop, concept, propellers, taxi, development, transport, uk, joins, rollsroyce, evtol, wraps, race, electric


Rolls-Royce joins the race to develop a flying taxi

Rolls-Royce has taken the wraps off an electric “flying taxi” concept that it claims could be in full production by the early 2020s.

The U.K. engine manufacturer teased the new development on Twitter over the weekend before displaying the vehicle at the Farnborough International Airshow on Monday. Rolls-Royce said it is now looking for partners to build an airframe and develop some of the electrics in readiness for a full commercial version.

Rolls-Royce said once cruise height is reached, propellers on the wing fold away to reduce drag and cabin noise. The craft then switches to two rear propellers for thrust.

Four or five passengers could be accommodated at speeds of up to 250mph for a range of around 500 miles, according to an accompanying specification sheet.

The U.K. engineering firm added the electric vertical take-off and landing (EVTOL) concept uses existing gas turbine technology to generate electricity, negating the need for recharging.

Rob Watson, who leads Rolls-Royce’s electrical team, said in a statement that the development is part of an electrification trend that will “ultimately be a revolution.”

The company said the EVTOL concept could be adapted for personal transport, public transport, logistics or military applications.

The concept of flying “cars” is fast developing as aviation and tech firms compete to make them a reality. Google co-founder Larry Page, ride-sharing app Uber and Airbus are just three others that have announced competing concepts.


Company: cnbc, Activity: cnbc, Date: 2018-07-16  Authors: david reid
Keywords: news, cnbc, companies, flying, develop, concept, propellers, taxi, development, transport, uk, joins, rollsroyce, evtol, wraps, race, electric


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Why China is spending billions to develop an army of robots to turbocharge its economy

Shanghai’s minimum monthly wage, for example, the highest in China, is 2,420 yuan (US$366.62), two and a half times what it was a decade ago. You have to elevate the manufacturing capabilities as a whole,” said Jing Bing Zhang, research director of market intelligence and consulting firm IDC. According to the International Federation of Robotics, China added 87,000 industrial robots in 2016, slightly below Europe and the United States combined. “The focus now is to encourage innovation, encourag


Shanghai’s minimum monthly wage, for example, the highest in China, is 2,420 yuan (US$366.62), two and a half times what it was a decade ago. You have to elevate the manufacturing capabilities as a whole,” said Jing Bing Zhang, research director of market intelligence and consulting firm IDC. According to the International Federation of Robotics, China added 87,000 industrial robots in 2016, slightly below Europe and the United States combined. “The focus now is to encourage innovation, encourag
Why China is spending billions to develop an army of robots to turbocharge its economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-22  Authors: joshua bateman, cnbc contributor, zhang peng, lightrocket, getty images, source, geek plus
Keywords: news, cnbc, companies, army, robotics, billions, encourage, spending, china, economy, robot, zhang, slightly, manufacturing, develop, turbocharge, companies, automation, robots


Why China is spending billions to develop an army of robots to turbocharge its economy

In 2014 Chinese President Xi Jinping called for a “robot revolution” in manufacturing. It’s now under way and boosting productivity, but there are adverse consequences.

After decades of growth, rising wages are consuming profits and pushing manufacturing to Southeast Asia. Shanghai’s minimum monthly wage, for example, the highest in China, is 2,420 yuan (US$366.62), two and a half times what it was a decade ago.

“They realize you cannot just compete with cheap labor. You have to elevate the manufacturing capabilities as a whole,” said Jing Bing Zhang, research director of market intelligence and consulting firm IDC.

An aging demographic also necessitates automation. China’s working-age population, people age 15 to 64, is 998 million. It started declining in 2014 and could drop to 800 million by 2050.

According to the International Federation of Robotics, China added 87,000 industrial robots in 2016, slightly below Europe and the United States combined. Chinese growth is forecast to exceed 20 percent annually through 2020.

One example is massive iPhone producer Foxconn, officially known as Hon Hai Precision Industry. Between 2012 and 2016, Foxconn’s operating revenues increased slightly, but its headcount declined by almost one-third. More than 400,000 jobs were eliminated as tens of thousands of “Foxbots,” factory robots, were deployed. Foxconn is targeting 30 percent automation by 2020.

Droids spray, press, assemble, disassemble, weld, package and track goods. They work 24-7, don’t require holidays and do as programmed. They increase efficiency, improve quality and reduce risk.

Chinese companies not only adopt robots, they also manufacture them. A national campaign, Made in China 2025, encourages automated processes and intelligent manufacturing. Last summer Premier Li Keqiang called on domestic companies to make more robots. With local and national government funding and policy support, approximately 3,000 robot makers or solutions providers launched between 2014 and 2016.

“The focus now is to encourage innovation, encourage development of automation and robotics technologies. And also encourage manufacturing companies to adopt robotics in the production line,” Zhang said.

Beijing-based Geelus Robotics develops logistics and warehousing applications, which e-commerce sites, manufacturers, express deliverers, supermarkets, retailers and pharmaceutical companies use to sort, pick and move inventory.


Company: cnbc, Activity: cnbc, Date: 2018-06-22  Authors: joshua bateman, cnbc contributor, zhang peng, lightrocket, getty images, source, geek plus
Keywords: news, cnbc, companies, army, robotics, billions, encourage, spending, china, economy, robot, zhang, slightly, manufacturing, develop, turbocharge, companies, automation, robots


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