Carrier, the Farmington, CT-based factory Trump ‘saved’ nine months ago, announced a first round of layoffs, with 338 employees expected to lose their jobs. The plant was at the center of a national discussion last November when Trump cut a deal that prevented it from moving hundreds of jobs to Mexico.

On Thursday, the 338 workers will be let go under a plan that was announced months ago. The company made the layoffs public Wednesday, and announced that it still plans to give Mexicans some of the jobs since they make in a day what American workers make in an hour.

Carrier plans a second round of layoffs for December 22, when 290 more workers will lose their jobs three days before Christmas. A representative for the manufacturing plant said the company remains committed to hiring around 1,100 people in Indianapolis.

Nearly 30 employees will undergo retraining programs under the new restructuring plans. All other employees will be given a one-time payment and the possibility to apply for any other positions within the company.

Trump decided to help the company during the campaign after a video taken by a worker showed an executive announcing the relocation. Trump supporters who wanted their jobs to stay in the country were shocked.

Carrier to Remain in Indiana

In April 2016, Trump promised that the company would not be leaving Indiana, if he were president. The factory was then often cited during the campaign, and several days after winning the election, Trump announced that he and former Indiana Governor Mike Pence were able to convince Carrier to keep the 1,100 in the Hoosier State.

Trump fans were excited about the deal, because they hoped Trump to intervene in the lives of other workers and put American worker interests first. Other companies announced new investments in the U.S. and the jobs they created. Meanwhile, the president took credit for part of the jobs generated.

As part of the deal, Carrier got $7 million in tax cuts from the state of Indiana. In return, the firm pledged to pour $16 million in new investment projects and leave the 1,100 jobs in the state. However, the $16 million will boost automation at the plant which will result in even more lost jobs.
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The U.S. Department of Energy announced that its experts would help U.S. power companies, of which at least one is a nuclear-powered, to help build a defense against hackers. The Feds warned that hackers have run a hacking campaign aimed at these companies recently, but the attacks have not reached the grid or electricity production.

Reuters reported the the attacks a week ago after the FBI and the Department of Homeland Security warned industrial firms of hackers trying to breach the nuclear and power infrastructure.

“DOE is working with our government and industry partners to mitigate any impact from a cyber intrusion affecting entities in the energy sector,”

a DOE official told reporters Friday.

The official also said that the past attacks only affected the business and administrative networks; no critical infrastructure was impacted.

The federal government couldn’t tell who the hackers were. They did say that the hacking campaign is “an advanced persistent threat.” This phrase is usually used in official documents to describe operations conducted by culprits.

Hackers Target Kansas Nuclear Plant

The DOE made the announcement after Bloomberg News reported that one of the power companies affected by the cyber-attack was the Kansas-based Wolf Creek nuclear facility. Bloomberg cited unnamed officials in the report.

The management of Wolf Creek power plant refused to confirm the news. They did say that the facility is out of harm’s way since the plant’s computer systems are not connected to the corporate network.

The DHS unveiled the hacking tools used in the attack, which revealed that hackers tried to use the password of one of the nuclear facility’s employees to breach the complex. It is unclear if hackers had compromised the employee’s account.

Authorities said hackers likely used phishing tactics to harvest credentials from employees. The official report reads that, traditionally, hackers are interested in power systems for cyber espionage or simply to disrupt the infrastructure in the event of an armed conflict.
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Over the last few weeks, the U.S. government has been asking many cybersecurity firms to unveil their products’ source code if they plan to stay in business. Now, U.S. authorities force Russian anti-virus maker Kaspersky Labs to do the same thing.

On Sunday, the firm announced that they are willing to share the code with U.S. authorities to prove that they have no ties to the Russian government or Russian spies.

“Anything I can do to prove that we don’t behave maliciously I will do it,”

the company’s chief executive Eugene Kaspersky said.

Mr. Kaspersky even said that he would gladly testify before the U.S. Congress to prove that his firm is not involved in anything shady. The company made the announcement a couple of days after the Senate unveiled a proposed bill to bar the Defense Department from using the Russian firm’s products on its computers. U.S. lawmakers are concerned that the anti-virus solutions may contain malware or security breaches that can be exploited by the Russian intelligence community.

Kaspersky Labs Cannot Be Trusted

Sources within Congress confirmed that the White House and Capitol Hill agree that Kaspersky Labs is not trustworthy due to its close ties to the Kremlin. The firm’s products cannot be used to shield critical infrastructure, lawmakers decided.

Kaspersky’s headquarters are located in Russia but the firm has helped both the FBI and the Russian government in past probes. The cyber security giant said it has no ties to any government, and dismissed allegations that it had helped a government spy on another.

Russia’ Communications Minister Nikolay Nikiforov warned that such measures directed at one of its companies might trigger retaliatory actions. Nikiforok thinks that the sanctions have a political origin. The Russian official underlined that his government uses a huge proportion of hardware and software which was made in the U.S.A. even in “sensitive areas”.
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The main chemical in Monsanto’s popular weed killer Roundup will be added to a list of cancer-causing ingredients by California authorities. The pesticide and seed maker Monsanto vowed to fight the decision in court.

California regulators want to label glyphosate as a carcinogen because it has been proven to cause cancer. The Office of Environmental Health Hazard Assessment broke the news Monday, but the measure will take effect next month.

The seed making giant sued the state for the same reason earlier this year but lost the legal battle. The company said it would appeal the ruling, but in the meantime, any firm that uses the ingredient will have to put a warning label on packaging.

California regulators argued that the labeling is legal because the company was not awarded a stay in court. The listing will be done July 7.

A spokesperson for Monsanto noted that the ruling is not final, and the company is committed to “aggressively” fight the “improper decision” in court. The firm criticized regulators for listing glyphosate as a carcinogen when there is not enough scientific evidence to back that claim.

WHO Labels Glyphosate As “Possible” Cancer-Causing

In 2015, the World Health Organization’s cancer research arm labeled the chemical as “possible carcinogen”. The decision has been contested by Monsanto, but California thinks it is scientifically valid.

Reuters investigators have challenged the findings in a recent report, noting that the director of the International Agency for Research on Cancer (IARC), which conducted the research, used data from a large, unpublished study which unveiled that Roundup is not cancer-causing.

However, multiple other studies in recent years suggest an association between the weed-killing ingredient and some types of cancer. IARC announced that it wouldn’t alter its findings.

Under the Safe Drinking Water and Toxic Enforcement Act, California authorities are required to keep an updated list of chemicals that may be linked to cancer or birth defects.
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A new study suggests Ethiopia coffee farmers need to relocate their crops or go out of business as in the next few decades, 60 percent of the sub-Saharan country’s farm land could no longer be used for agriculture.

The study recommends coffee farm owners to change the location of their farms as they risk losing their crops in the near future. Researchers also found that relocating crops could benefit coffee production more as other regions could give higher yields.

Ethiopian coffee production has been on the decrease in recent years, and farmers are looking for farm land in other areas. The country’s $800-million-per-year coffee industry has 15 million employees. Loss of production is already affecting communities and the economy in general. In some parts across Ethiopia, less rainfall and harsher dry seasons are increasingly hard to withstand.

The latest research also found that Harar, one of the African nation’s largest coffee production centers, will be gone over the next century. Study authors, however, are confident the production could be saved if it is relocated to higher grounds where there are ample parcels of land. These higher altitudes are projected to remain suitable for coffee production decades more than the lower lands. Nevertheless, researchers warn that the transition should start as soon as possible.

There’s Still Hope

Lead author of the research Justin Moat confirmed all is not lost as Ethiopia is abundant in lands that provide coffee the right conditions to grow. Moat underlined that his team has been conducting similar studies for years, and most results were negative.

For the latest study, the research team built computer models of coffee-growing regions across the country, and the results confirmed past models: from 40 to 60 percent of the land in use for coffee production could become unusable by the end of the century. Ethiopia is the producer of Coffea arabica which unlike Coffea Robusta generates the good tasting coffee we are all accustomed with.

The study was published this week in Nature Plants.

If you are living in a big city you have probably experienced at least one traffic jam. A new report focused on the money US drivers lose while they are stuck in a traffic jam. Although many people might not realize that traffic jams cost money, this report might show otherwise.

INRIX Inc conducted a report that shows just how much money spent the US drivers when they are stuck in traffic jams. The report also showed which cities have the most traffic jams. The city that it considered to be the most clogged one is Los Angeles. The report showed that this city has the worst traffic jams.

These traffic delays affect people and cost them money. The report conducted by INRIX showed that more than $1000 is spent, every year, by US drivers. The money is wasted on fuel and time. Despite the fact that Thailand was the most congested city last year, this new report shows that the US has the worst traffic among developed countries.

5 of the top 10 most congested cities in the world are in the US. Despite the fact that this is not a new problem, this report shows that the issue of traffic delays is getting bigger and bigger in the US. Some cities have taken measures to stop the traffic delays by not allowing private vehicle access in central areas of the city.

In some parts of these cities, only public transportation is allowed and sometimes cabs. In the US, people spend a lot of money and energy stuck in traffic. When it comes to rush hours, Los Angeles is the cities where people spend most of their time stuck in traffic.

There are other parts of the world where people experience this type of problem. For instance, in Moscow people spend more than 25% of their total driving time on congested roads. In Bogota, the numbers are even bigger. Drivers there spend more than 31.8% of their time driving in traffic jams. Some of the cities that have been declared as congested include San Francisco, Miami, New York, and Atlanta.

What is your opinion about this report? Did you know that Los Angeles has the most traffic jams?

Image source: Pixabay

FedEx, the courier giant, reported a lower than expected earnings call as the company is believed to have been weighted down by its investments.

FedEx came with a surprise this past week. It was mostly for market analysts, as the company did not exactly meet market expectations.

The FedEx Corporation is a United States-based multinational. It was funded in 1971 and is headquartered in Memphis, Tennessee. The company is specialized in courier delivery services.

It is very well known for its overnight shipping services. They were also the first to introduce package tracking. Initially, this was designed to help with lost packages. Now, it has become a standard feature.

The courier’s services and renown span at a global level. However, its expansion might have potentially weighed it down.

FedEx released a lower than expected earnings report. Their second quarter adjusted earnings were reported this Tuesday.

On December 20, the company both confirmed and infirmed market expectations.

The reported revenue numbers reached $14.93 billion. They marked an almost 20 percent rise compared to the same period in 2015. Market estimates would have placed the revenue at $14.91 billion.

However, the adjusted earnings per share were well below estimates. They came to a $2.80 value share. Analysts had predicted a $2.91 sum per share.

FedEx reported increased revenues for most of its package options. As such, the United States domestic package revenue rose by 3 percent. United States freight per pound revenue increased well over 6 percent.

International export revenues also increased by 1 percent. And the Express revenue rose by 2 percent. This was based on the higher volume and increased rates.

The FedEx Ground daily revenue marked a 5 percent daily increase in the second quarter. This was helped along by a number of factors. They include the commercial package growth and also e-commerce increases.

FedEx Freight revenues also rose by 3 percent. The courier giant expressed an optimistic full-year outlook. However, their adjusted earnings call did not meet market expectations.

Their 2017 full-year EPS guidance was placed at $11.85 – $12.35. Market estimates had a $12.06 value. FedEx reported a net income of $700 million or a $2.59 value per share. Their second quarter ended on November 30.

The company reported a higher income as compared to the same quarter, last year. In 2015, FedEx reported a $691 million Q2 net income. Their then share value was of $2.44.

However, FedEx’s operating expenses also rose. The company has an operating sum of up to $13.8 billion. This is 22 percent higher when compared to 2015.

Following the Tuesday report, company shares value were seen to fall. After-market trading reported an almost $193.20 value per share. They fell by about $5.54 as compared to early Tuesday.

One of the reasons for FedEx’s rise in expenses is its heavy investments. The company is opening new or investing in existing distribution hubs. It has also been hiring more employees.

These were all moves taken in order to meet market demands. FedEx is currently trying to meet market demands for the holiday season. This is expected to be yet another record-breaking shipping season.

The fact that Christmas Day will fall on a Sunday is also believed to influence demands. In November, the company stated that it was expecting higher numbers when compared to 2015. A 10 percent increase is expected. However, specific numbers are yet to be released.

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Japan is currently considering the introduction of a new gambling bill as the decision which should be made today may make casino gambling legal.

The Rising Sun nation has mixed relation with casino practices. Although its financial merits are recognized, some consider them to be against their cultural habits.

A new gambling bill was presented this earlier this week, on Tuesday. Put for the by a committee of the House of Councilors, it is expected to face full chamber on Wednesday.

According to public reports, the bill has the backing of the government. Shinzo Abe, the Japan Prime Minister, and his cabinet have reportedly expressed their agreement of the new bill.

They see as a way of increasing tourists and tourism values, in general. Such a new tourism area could come to help the country’s economy, as it is flagging.

Even the mere presentation of the potential new bill was quick to produce a response. Following its announcement, equity trading gambling shares registered a higher value on Tuesday.

Amongst the most probable and already proposed casino constructions areas are a number of important cities. As such, up to 4 casinos may be built in either greater Tokyo, Osaka, or Yokohama areas.

This is not the first gambling bill submission. Back in 2013, and later in 2015, the first such proposals were advanced. They targeted the larger scale development of casino venues.

The envisioned plans saw a combination between hotels and casinos. Such venues would have also hosted conference and shopping facilities. If the bill would have passed, its regulators would have also started developing industry licensing plans.

However, previous and current gambling bills have been met with both political and population mixed reviews.

Renho, the head of Democratic Party opposition, expressed his opposition to the new bill. According to him, legal gambling should not be considered a growth industry for their nation. He feels that such practices would come in conflict with the Japanese dignity.

According to an NHK broadcaster survey, the questioned population is not happier. Whilst only 12 percent were in favor of lifting the casino ban, around 44 percent opposed it. The remaining questioned population percentage showed their indecisiveness.

However, following yesterday’s vote, the gambling bill passed by a key parliamentary section. Although it has faced fierce opposition, the bill is expected to most likely be approved.

As it gained the Cabinet Affair’s panel approval, it will potentially and probably be enacted into laws. An enacting of the gambling bill could create a high-stakes such environment.

The high values gaming areas could as such enter the world’s third biggest economy.

One of the major concerns raised by the opposition pointed out addiction problems. The country is already encountering some gambling addiction issues over its similar such legal activities.

Still, by having the Prime Minister’s approval, the bill is expected to pass. Abe’s coalition government has a strong majority in the country’s upper house.

As such, the gambling bill will reportedly most likely be approved this Wednesday. December 14 also marks the last day of the respective National Diet session.

Although the bill’s fate remains to be seen, a fact is almost certain. Estimates show that such potential casino venues will most likely not be operational during the Olympics. In 2020, Tokyo will host the Olympic Games.

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Equinix has announced its intention of acquiring 29 data centers currently controlled by Verizon as the two companies have entered into a definitive purchase agreement.

Equinix Inc. is a California-based colocation provider and IBX data center. As one if not the largest such services provider, the company has expanded and has a worldwide outreach.

Verizon Commmunications Inc, more commonly known as Verizon, is a Delaware-based broadband telecommunications company. It is also considered as being the largest United States service provider of wireless communications.

The purchase agreement between the two companies, which has been declared as being definitive, will target 24 data centers.

Details about the acquisition have been offered and state as follows. Equinix is seeking to buy a 29 data centers portfolio which will include the respective sites and also all their operations.

The acquisition price was set at a $3.6 billion sum and is expected to be an all cash transaction.

The 24 sites are spread out throughout 15 metro areas and include 29 such center buildings. As the details of the acquisitions and its definitive status have been confirmed, the sale is expected to bring benefits to Equinix.

Through the data centers acquisition, the company is expected to strengthen its existing global platform. As such, the centers are expected to increase its United States and also Latin America interconnections.

It should also contribute to the opening of three new market areas in Houston, Culpeper, Virginia and Columbia’s capital, Bogota.

The sale may also contribute to the company’s accelerated access into the strategic and enterprise market areas. Such areas also include the energy and government sectors.

Equinix will be adding an estimated number of 900 new customers to its platform. This value also includes a significant number of enterprise customers which will be new to their platform.

It will also be expanding the company’s gross square feet global footprint with an additional 2.4 million footage. As such, Equinix will reach an approximated total 17 million gross global square footage.

The value is calculated based on its 175 data centers which span across 43 market areas in the Americas, Europe, and the Asia-Pacific zones.

The equinox-Verizon transaction is expected to close sometime in 2017, by the mid of the year, after it satisfied the customary closing conditions.

Amongst the 29 new data centers, one will include the following locations. Culpeper, Bogota, Houston, Los Angeles (Torrance), Miami (Miami and Doral), and New York (Carteret, Piscataway, and Elmsford).

These are just a few of the new data centers to be acquired by Equinix from Verizon. Besides being beneficial for the company’s development, the sale will also advantage customers.

As such, existing and future Equinix customers will beneficiate from a larger coverage. The acquisition will come to translate as the access to new partners, locations, and ecosystems.

Karl Strohmeyer, Equinix’s Americas President, also pointed out the advantage that the acquisition will bring to partner companies.

New or existing companies will be able to leverage the company’s global footprint and also it interconnection services.

As such, companies will be able to construct and base globally consistent platform from within their local metro area.

Steve Smith, the Equinix CEO and President, also presented the company’s market expectations. As such, the acquisition is expected to also advantage shareholders.

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An interesting lawsuit will take place as the Iceland versus Iceland trial is the country’s try to take back the rights for its name from the food store which already owns them.

Iceland is a Northern European country famous for its lush, green environment and great natural beauty.

Iceland Foods Ltd. is a United Kingdom-based grocery and frozen-food products retailer company which was founded in 1970.

The food products company is the second biggest retailer in Britain, just behind the giant grocery company Tesco PLC.

Back in 2002, Iceland Foods requested and applied to the European Union for the trademark ownership over the name “Iceland”. As of 2014, the trademark request was approved.

The effects of this trademark grant are stated as being amongst the causes behind the Iceland versus Iceland lawsuit.

According to declarations, the Icelandic country government feels that the Iceland Food Store is using this new right in an aggressive manner.

The country’s government declared that the grocer is trying to stop authentic Icelandic companies from using the name of their birthplace.

Reykjavik, as the country’s capital, maintains that Iceland Foods has been filing quite aggressive lawsuits against any company that uses “Iceland” in its trademark.

The company states that these lawsuits are targeting real Icelandic companies that are trying to use their origin as part of their marketing methods.

According to the same statement, as all previous discussion failed to garner a result, the country decided to sue the store. As such, the Iceland versus Iceland trial was born.

Iceland Foods representatives responded to the claims by saying that no recent discussion attempts have been made.

The company declared that it too would have also preferred an amicable resolution to the problem. It also maintained that it has been trading under the same name for the past 46 years.

As such, it finds it hard to believe that anyone could mistake the country for the food products company.

Iceland Foods has a total number of approximately 800 stores which amount to about 25,000 people, or about 10 percent of Iceland’s total population numbers.

The frozen foods supermarket has had a mixed history as it has passed through both successful periods in the 1980’s and rather unprofitable times in the early 2000’s.

As of 2005, the company has been registering an increase is now considered to be the second biggest United Kingdom food retailer.

Their stores are estimated to process an approximated number of 5.5 million daily transactions.

With Iceland’s total population amounting to about 323,000 people, the company finds it unlikely that anyone could have mixed the two entities.

Still, the European Union Intellectual Property Office or EUIOP website shows that the Iceland trademark owned by Iceland Foods Ltd. is currently being disputed.

If the Iceland versus Iceland charges are approved, the trademark could be removed from the registry and the food company will lose its rights over it.

This could potentially bring losses to the company’s profits, but perhaps more importantly, it could generate a precedence.

If the country’s claim is approved, it could potentially lead to other such cases for companies such as Canada Dry or maybe the Chicago Town pizzas.

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