Netflix in India: Will it be a Blockbuster

first_imgOn January 6, Netflix co-founder and CEO Reed Hastings unveiled his campaign to conquer the world. At the 2016 Consumer Electronics Show in Las Vegas, the on-demand Internet streaming media provider added 130 countries to the list of 60 where its services are already available. “Today, you are witnessing the birth of a new global Internet TV network,” said Hastings.There were no cheers from China, which has been left out of the Netflix plan (along with North Korea, Syria and Crimea). There was some dismay in India, where Netflix is initially offering only around 7% of its U.S. library and limited local content. China and India are potentially two of the largest markets for Netflix. India’s mobile subscriber base crossed one billion in October, making it the second country after China to reach that landmark. The younger generation is comfortable watching movies and TV shows on smartphones. India is expected to record 500 million Internet users by the end of 2016, 60% of them accessing the web on mobile phones. China is the clear leader here with 668 million Internet users.So is Netflix wrong in treating India on a par with Anguilla and Aruba? Kartik Hosanagar, Wharton professor of operations, information and decisions, says there is something to be said for a slow-and-steady approach in a market like India. “Netflix probably acknowledges that the Indian market has to be built up slowly rather than in a big-bang fashion,” he notes.“We have launched in new countries by region or individually in the past,” says U.S.-based Anne Marie Squeo, director of corporate communications at Netflix. “We’ve learned a lot from those launches and will learn a lot from this one as well. Given the consumer demand for great content delivered over the Internet, we wanted to start meeting that need now rather than waiting.”Not a Game-changerHosanagar doesn’t think Netflix will be a game-changer in India anytime soon. “In the short term, it won’t disrupt the market,” he says. “Netflix has to solve a number of issues tied to infrastructure. That said, the long-term indicators are that it will have a huge impact on the market. YouTube is already big in India, albeit for short-form content. Netflix will need to adapt. A technology solution made for the U.S. won’t work in India. But once it is adapted, I think it can have a great impact on content production and consumption patterns.”“I think India is a large and important market for most content and distribution platforms, including Netflix,” adds Jehil Thakkar, head of media practice at KPMG India. “Given the nuances of the market, a softer launch will help in terms of learning lessons, evolving practices, building relationships and understanding consumer behavior before a larger and higher profile rollout is made. China continues to be a controlled Internet and content market that does not allow free competition or entry in the media space and this, in fact, heightens India’s importance in the media and entertainment space for the long term…. [Today] Netflix is not necessarily a strong brand in India. Its entry will not have a significant effect — at least in the short term.”“It is too early to even think of disruption,” says Smita Jha, leader-entertainment & media practice, PwC India. “The Indian consumer base is very diverse.” But, she notes, “the launch of Netflix in India has opened up the debate on OTT [over-the-top content, which refers to audio, video or other media delivered over the Internet without users needing a cable or satellite subscription] in a more serious manner in India. Prior launches by some local players did not create such an impact.” Gurpreet Singh Bhasin, co-founder and COO at One Digital Entertainment, expects that Netflix’s entry will “ensure that domestic players and media giants get more serious about the business and invest for a long-term play.” However, Rajiv Vaidya, CEO of local player Spuul says: “We don’t think Netflix will disrupt the space; it is still a U.S. product, which doesn’t take into account the complexities of India.”The likes of Spuul, BigFlix and Hooq were expecting Netflix to enter the market later this year, says Gaurav Gandhi, COO of the newly-formed Viacom18 Digital Ventures, another Netflix competitor. “Naturally, everyone is evaluating the entry strategy.”A Costly PropositionAccording to Gandhi and other experts, some key factors need to be considered when examining Netflix’s strategy for India:Price: The U.S. cable TV average revenue per user (ARPU) is around $80-$100 while Netflix’s subscription rates are $8-$10. But the Indian cable TV market has one of the lowest ARPUs in the world at $4-$5. At current pricing, Netflix’s basic subscription plan is virtually double.Data costs: Telecom data costs are very high. In fact, some telecom firms are mulling a model in which voice calls are free. Data is used to balance the books. Prices for voice calls are very low: Tata Docomo, for instance, has unlimited voice plans (free calls during the period of the scheme) which start at less than $3.The delivery mechanism: “Globally, Netflix consumption is higher via fixed broadband lines [and larger screen viewing at home]. In India, it is primarily on the mobile. In fact, the entire digital boom is mobile-driven,” says Gandhi. This means even higher data costs.Content: “Netflix will need to grapple with its strategy — whether to be a mass or niche player,” says Jha. “If it is the former, the challenge will be to include [a large amount of] local content so as to effectively compete with the Indian TV broadcast and film fraternity; if the strategy is to go mass, pricing plans may also need to be reviewed as they are currently higher when compared to the average television subscription or film ticket.” Currently, Netflix is offering three plans for India. The basic plan allows users to watch on one screen and costs Rs. 500 ($7.40 at the current exchange rate of $1 = Rs. 67.59) per month. The standard plan (two screens at the same time) is Rs. 650 and the premium plan (four screens) is Rs. 800.U.S. companies in this space have earlier found they cannot take Western pricing models and extrapolate them to India. Facebook’s second-largest market is India with 125 million users. Out of them, 114 million are mobile users. In the year ended March 31, 2015, the social media giant saw its India revenues jump 27% to $18.26 million and net income rose 33% to $2.4 million. However, revenue per user was 15 cents compared to $10 in the U.S.If Netflix decides to cut rates, some local rivals may meet it head on. Viacom18 can pick up the gauntlet if it needs a deep-pocket response; the company is owned by the wealthiest Indian, Mukesh Ambani. Hotstar is part of Rupert Murdoch’s far-flung empire. Besides, Hotstar is free. It offers a mix of cricket and local content.Cricket and Cinema“India loves cricket and cinema,” says S. Sadagopan, founder-director of the International Institute of Information Technology, Bangalore. “Netflix has the potential to disrupt, provided it is able to source Indian content, price it right and manage the speed of delivery. A small number would love the Netflix U.S. content, but the real disruption will need ‘Made in India, Made for India’ content.”“We are producing local TV shows in Italy, Brazil, the U.K. and a number of other countries, and expect that list to grow globally along with our service,” says Squeo, the Netflix spokesperson. “In 2016, we plan to spend about $5 billion on programming rights, including many titles that will be exclusive to Netflix around the world. However, content licensing has traditionally been very fragmented and regionalized. It will take some time, several years at least, to get to an offering that is the same everywhere.”Content matters, experts note. It dictates strategy, pricing and positioning. Local content will have a market in rural areas. But affordability remains an issue and will require out-of-the-box thinking.In addition, there are other basic hurdles to cope with. One major issue is bandwidth. “The biggest challenge is bandwidth availability,” says Sadagopan. “Hopefully … enough bandwidth will be available soon.” Adds Mohit Jain, research analyst-technology at securities firm Anand Rathi: “Expensive and inconsistent Internet speeds are the biggest challenge for Netflix in India.”“I suspect the low-key entry reflects the fact that India’s broadband penetration is low,” says Hosanagar. “Even where a household has broadband, speeds are not true broadband. Netflix will need to make the same kinds of investments in infrastructure in India as it has made in the West. This will include investing in content delivery networks so that its content is stored as close to the end-user as possible. It will need to invest in some additional infrastructure in India to adapt to the mobile. It will need to partner heavily with telecom operators in India. With all of that, Netflix will have a fair shot.” Reliance Jio will be launching 4G services in the country soon (it is in beta now). So, the Netflix launch may be anticipating that.Squeo of Netflix has an answer to the infrastructure issue. “Netflix automatically adapts the data rate of the video stream to meet the bandwidth available to the member at any point in time,” she says. “Our adaptive streaming engine allows us to automatically adjust the bit-rate of the video stream based on a member’s bandwidth so we can eliminate buffering. We do this by encoding video content for a multitude of devices and formats so we can deliver the one that will provide the best viewing experience.”There could be other hiccups. Censorship, for one. “The latest James Bond installment has had its license to thrill revoked after [Indian] certification board orders scenes with kissing to be cut by 50%,” said a recent report in U.K. newspaper The Guardian. House of Cards and other programs available on Netflix may face backlash due to the use of four-letter words and other racier content. Then there is piracy; in India, sharing and downloading of copyrighted material is rampant. And credit card frauds have spread to the extent that people are wary of giving information online. Netflix requires card details for even the one-month free trial period, which may prevent many from trying the service.Is the hurried globalization plan a result of subscriber saturation in its existing markets and shareholder unease as a consequence? Baird Equity Research downgraded Netflix’s stock from “buy” to “neutral” on January 4. “The push toward increased original programming and content costs generally could pressure profitability and cash flow more than expected,” wrote Baird in a note. “…The international markets have lower broadband penetration rates, lower credit usage and lower TV ARPU, all of which could hamper Netflix’s growth in those markets.”Zacks Investment Research put the Nasdaq-listed stock on its “sell” list. Netflix shares dropped some 7% after the downgrades. However, Netfilx’s stock price doubled in 2015 and the fall may be the result of overly high valuations and investors booking profits.“It appears Netflix has not done enough homework — the way it is priced initially and the content available at launch time is anything but rich,” says Sadagopan. But Netflix changed the rules of the game and adapted along with its customer base in the U.S. and elsewhere. It is capable of doing so again.   Related Itemslast_img read more

After Rajya Sabha washout, govt ready for debate on Gaza

first_imgYielding to the opposition demand, government on Thursday agreed for a discussion in the Rajya Sabha on Gaza situation on July 21.Doubts, however, remain on whether the House will function even on Friday as the opposition wants discussion at the earliest.The opposition contended that a “wrong message” has already gone out to the world about the “silence” of Indian Parliament on such a serious issue.For the last two consecutive days, the issue echoed in the House which saw a deadlock as the opposition persisted with its demand for an early debate while the government resisted strongly, arguing that any discourteous remark could affect India’s relations with Israel and Palestine.External Affairs Minister Sushma Swaraj even wrote to Rajya Sabha Chairman Hamid Ansari, saying that the notices given by opposition members for a debate are inadmissible but her contention was rejected.Ansari, however, did not give a ruling in favour of immediate discussion even, saying a date will be fixed for it in consultation with the government.After the ruckus ensured washout of the proceedings of Rajya Sabha with opposition parties like Congress, Left, SP, JD(U) and Trinamool Congress remaining adamant, the government on Thursday agreed to have a discussion on Monday.Official sources said the debate will take place at 12 pm on Monday.last_img read more

The story of English football’s first £1 million man

first_imgTransfers The story of English football’s first £1 million man, Trevor Francis Ryan Kelly 00:42 2/8/18 FacebookTwitterRedditcopy Comments(2) Trevor Francis Nottingham Forest 1979 European Cup Getty Images Transfers Nottingham Forest Birmingham City England Neymar and Philippe Coutinho have been bought for fees in the hundreds of millions, but there was a time when a single million got you the top talent In an era when footballers are traded between clubs for hundreds of millions, the idea of a £1 million transfer probably doesn’t seem that interesting.But, nearly four decades ago, it was an historic fee and one that Nottingham Forest paid to Birmingham City to secure the talents of Trevor Francis.The striker became known as England’s first £1 million player and his career subsequently took him to a number of different countries. Editors’ Picks Lyon treble & England heartbreak: The full story behind Lucy Bronze’s dramatic 2019 Liverpool v Man City is now the league’s biggest rivalry and the bitterness is growing Megan Rapinoe: Born & brilliant in the U.S.A. A Liverpool legend in the making: Behind Virgil van Dijk’s remarkable rise to world’s best player With the anniversary of Francis’ famous transfer coming up, Goal looks back at the story.Trevor Francis: The £1 million transferNottingham Forest bought Francis, then 24, from Birmingham City on February 9, 1979 – a mid-season signing. While it was heralded as the first £1m signing, the fee actually exceeded the £1m mark, rising to £1.18m following the addition of taxes.The transfer naturally caused a stir in the United Kingdom, but it was not a world record, since Giuseppe Savoldi and Paolo Rossi had each been transferred for over two billion Lira – which was equivalent to over £1m – in 1975 and 1976 respectively.The move came after Francis had enjoyed a number of fruitful seasons with the Blues, in which he scored plenty of goals, earning a place in the Professional Footballers Association (PFA) First Division Team of the Year for two seasons in a row in 1977 and 1978.When the signing was announced and Francis was unveiled to the media, then Forest manager Brian Clough showed up late to the event wearing a tracksuit and toting a squash racket, a move that has been interpreted as a deliberate attempt to downplay the significance of the moment. Indeed, Clough even circulated a story that the fee wasn’t actually £1m at all, but £999,999. Trevor Francis Nottingham ForestIn Nottingham Forest, Francis was joining the reigning English champions who had designs on retaining their title and challenging in Europe. The expectations were high at the club and Francis later admitted that his price-tag weighed heavy on his mind.”I found myself trying to justify the £1m,” he told the Daily Mail in 2009. “You have to be yourself and play your own game. There was a pressure lifted when I got my first goal against Bolton.”However, he went some way towards justifying the historic fee some four months after arriving at the City Ground when he scored the winning goal in the 1979 European Cup final against Malmo in Munich – his European debut for the club.How much would Trevor Francis be worth today?It is difficult, if not impossible, to quantify how much Francis would be worth in modern-day terms, given that the transfer market has exploded in a seemingly exponential curve.Taking into account inflation, £1m in 1979 would be equal to about £5m in 2018, which is a relatively paltry figure for a player deemed worthy of going down in history. The truth is that Francis’ theoretical value could fall into a wide spectrum, with so many factors and considerations at play in modern-day transfers.Manchester United forked out £29m for Rio Ferdinand in 2002, while Real Madrid paid £24.5m to the Red Devils for David Beckham in 2003 and Wayne Rooney cost £30m in 2004.Those figures for English players have risen in recent years, with Liverpool paying £35m for Andy Carroll in 2011, while Manchester City paid a combined £137.5m for Raheem Sterling (£49m), John Stones (£47.5m) and Kyle Walker (£50m) in the last three years.Of course, the records for player transfer fees was obliterated in 2017 when Paris Saint-Germain spent €222m on Neymar, filling Barcelona’s coffers sufficiently so that they could sign Ousmane Dembele and Philippe Coutinho for €150m and €160m respectively.How much would Francis be worth today? It’s anybody’s guess!Trevor Francis’ football careerMarius Tresor France Trevor Francis England World Cup 1982Francis has commented on the fact that he is still widely referred to as “The £1m Man” by media and fans, joking that you would be forgiven for thinking that it was the only thing he did.”To this day whether it be a luncheon or an evening dinner, I’m always introduced as: ‘The £1m man’,” he told the Daily Mail. “I played first-team football at 16. I was 39 when I finished at Sheffield Wednesday. That’s a long career, longer than most. I had nine years with England winning 52 caps. I played in the World Cup.”I also played in Italy and Scotland for very big, prestigious clubs. But sometimes you’d think the only thing I did was to be transferred for £1m. And, do you know, I’m quite proud of it.”Indeed, as he said himself, Francis’ playing career lasted an amazing 24 years and he won two European Cups. He scored 12 goals in 52 appearances for England and featured at the 1982 World Cup.His career began at Birmingham City when he burst onto the scene as a 16-year-old with an eye for goal. He spent nine seasons with Birmingham before making the historic move to Nottingham Forest in 1979.Francis remained at the City Ground for three full seasons, winning two European Cups, before signing for Man City in 1981, but his time there was brief as he moved to Italy to join Sampdoria in 1982. Then 28, he spent four seasons with the Genoa club, helping them to a Coppa Italia triumph in 1985 before moving on to Atalanta in 1986. Francis returned to the UK in 1987, linking up with Graeme Souness at Rangers, before moving south to Queens Park Rangers in the spring of 1988. He finished his career at Sheffield Wednesday, winding down his playing days from 1990 to 1994.Francis briefly served as player-manager at QPR during his time there and was also player-manager of Wednesday from 1991 until 1995, guiding them to the final of the FA Cup and League Cup in 1993. He later had spells at the helm of Birmingham City (1996-2001) and Crystal Palace (2001-2003).Other £1 million playersBryan Robson Manchester UnitedAfter Nottingham Forest made history by signing Francis in early 1979, the £1m mark was again surpassed on a number of occasions that year.Manchester City broke the English record in September when they signed Steve Daley from Wolverhampton Wanderers for £1.45m. That same month, Wolves broke the record again when they secured the services of Andy Gray from Aston Villa for £1.5m.Another player who commanded a fee over the £1m mark during that period was Bryan Robson, who joined Manchester United from West Brom for £1.5m in 1981.The fees paid by British clubs remained relatively stable until the mid-1990s, but continental European clubs were paying more for players throughout the 1980s.AC Milan bought Ray Wilkins from Manchester United for £1.5m in 1984, Barcelona bought Mark Hughes from Man United for £2.3m in 1986 and Juventus paid £3.2m to Liverpool for Ian Rush in 1987. Chris Waddle, David Platt and Paul Gascoigne followed, with Marseille, Bari and Lazio all paying big money.last_img read more

10 months agoSampdoria defender Andersen draws inspiration from Skriniar

first_imgSampdoria defender Andersen draws inspiration from Skriniarby Paul Vegas10 months agoSend to a friendShare the loveSampdoria defender Joachim Andersen admits he’s drawing inspiration from Inter Milan stopper Milan Skriniar.The Dane welcomes comparisons with the former Samp defender.“I’ve read and heard these comparisons many times before, but they don’t bother me,” the Dane told Sky Sport Italia.“I’m my own person, even if I understand the comparisons because we’ve played for the same club at a young age and, like me, didn’t play at first.“Now he’s continuing to grow and becoming a great player. I hope to take the same route as him.“Giampaolo? I’ve learned a lot from him and I’m very happy that he’s my Coach. He’s one of the reasons I came here because I knew he was a great Coach.“He’s someone who really takes care of the smallest details. For me, that’s very important as a defender.“I don’t know what the future holds, I’m just thinking about doing my best. After that, of course it’s nice that other clubs are interested in me, but right now I’m only thinking about playing well for Samp, where I’m happy.“I like Italian football and Samp play great football.” About the authorPaul VegasShare the loveHave your saylast_img read more

ESPN Has Released Its College Football Preseason Power Rankings

first_imgA generic picture of three footballs next to a pylonThe 2018 college football season officially starts this month, and as such, ESPN has gone ahead and released its final Power Rankings heading into the season. Alabama, you won’t be surprised to hear, is the No. 1 team in the country.The rankings were released a few hours before Brett McMurphy’s bombshell report on Urban Meyer. At the moment, it’s unclear what kind of situation Ohio State will be dealing with regarding its head coach heading into the season.Following Alabama in the rankings is Clemson, which returns a number of stars from its defense. ESPN believes it’s very possible the Crimson Tide and the Tigers meet again – for the fourth year in a row – in the College Football Playoff.Ohio State, Georgia and Washington round out the top five. Again, if Ohio State is forced to make a coaching change, the Buckeyes could be looking at a tumultuous season instead.Here are the 25 teams in ESPN’s rankings. There are five teams in the top 13 that hail from the Big Ten.AlabamaClemsonOhio StateGeorgiaWashingtonWisconsinOklahomaPenn StateMiamiAuburnNotre DameMichiganMichigan StateStanfordVirginia TechUSCMississippi StateFlorida StateBoise StateWest VirginiaTCUTexasOregonUCFSouth CarolinaLast year’s College Football Playoff consisted of Clemson, Georgia, Oklahoma and Alabama. All four of those teams are ranked in the top seven heading into this season as well.The Coaches’ Poll is expected to come out this Thursday, while the AP Poll is set to be released on August 20.The 2018 season kicks off in just four weeks.last_img read more

St. Elizabeth to Get Agro-Economic Zone

first_imgMinister without Portfolio in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. J.C. Hutchinson, has announced that the first Agro-Economic Zone for the parish of St. Elizabeth is expected to be opened in August this year.He was speaking at the official launch of the Elliot Farmers Community Enterprise Greenhouse Project in Cromwell, St. Mary, on Wednesday (February 27).“We are looking to see if we can set up four others throughout the country, and one of the areas we are looking to set up an agro-economic zone is in St. Mary, because you [the farmers] have the land and you are able to produce,” Mr. Hutchinson said.The agro-economic zone will be a place where farmers can take their fruits for grading, packaging, cold storage and processing into purées and juices for sale.Mr. Hutchinson explained that one of the reasons the Government is looking at setting up agro-economic zones is to help farmers to make a profit from their Grade B and Grade C crops, which they have reaped and have been rejected in markets, and usually become waste.“I am appalled when I see the fruits that go to waste here [in St. Mary] and in the eastern section of this country… mangoes, guavas and June plums, all of these go to waste. I want to see the collection of all these made into juice. The juice can be sent to the schools for a breakfast programme, as 30 per cent of the students throughout the country go to school without a breakfast,” he said.The Minister emphasised that breakfast is the most important meal of the day, and in keeping with this, the Government wants to provide good breakfast programmes from local produce.last_img read more

Korea Grants Further Class Approval for Drone Inspections

first_imgzoom Korean Register of Shipping (KRS) has granted a further class approval for the use of drones in inspections of enclosed spaces aboard ships.The KRS certification, which was awarded to Robotics In Maintenance Strategies (RIMS), means that even more shipowners and managers can now reap benefits which this new technology offers during class surveys.The use of drones during surveys enables remote live on-screen object inspection, which can result in the elimination of the use of costly access equipment such as scaffolding and cherry pickers.Additionally, such techonology offers additional substantial benefits to shipowners and managers, including reduction in the time to carry out a survey, minimising of risk, as well as cost savings, according to RIMS.“We have come a long way in our quest in the practical integration of drone technology in the world maritime surveying. Having now gained five class approvals over the past six months, it has demonstrated to us a major shift for the maritime world in both awareness and attitude,” David Knukkel, CEO of RIMS, said.last_img read more

Two held for killing transport broker

first_imgNew Delhi: Delhi Police on Sunday claimed to have arrested two persons for abduction and murder case of transport broker in Narela Industrial area in Outer North district. The accused were working the deceased. Deputy Commissioner of Police (outer north) Gaurav Sharma claimed that on September 13 deceased’ wife informed that her husband Manish was missing. A case was registered in this regard. “On September 14, deceased’s wife came again and shown suspicion about the circumstances in which her husband disappeared. She further alleged that her husband had gone with his friend Atul. She had suspicion on Atul that he alongwith someother person has abducted her husband, ” DCP Gaurav said. Later a case under section 365 IPC was registered. Also Read – After eight years, businessman arrested for kidnap & murder During investigation the main suspect Atul was traced. On his instance co accused Shivam was also apprehended. Police added that upon enquiry , Shivam disclosed that Atul had asked him to get money from Manish. For that purpose they hatched conspiracy to kill Manish. When deceased left his home for work at night around 11pm alongwith Atul. Meanwhile, Atul messeged Shivam that they had left the home on Manish’s bike and would reach at Swaroop nagar. Atul also asked Shivam to come at Swaroop Nagar. There they met and suddenly Atul hit Manish with an iron Pipe.Then Shivam also started hitting him with the same iron pipe. Thereafter, Manish got unconscious and the accused burnt his (deceased) bike with petrol to destroy evidence. “Then both accused took Manish with them at Alipur Nala. There accused tied both hands and feet of Manish with his cloths and thrown him in drain, ” police said.last_img read more

Powells bullish outlook on US economy rattles markets

first_imgWASHINGTON – New Federal Reserve Chairman Jerome Powell delivered a message Tuesday that wasn’t quite what Wall Street had expected: The U.S. economy is doing well, maybe even better than he thought late last year.Powell emphasized in his first Congressional testimony that the central bank plans to raise rates gradually. Nonetheless, his growing optimism about the economy rattled investors. Treasury yields climbed and stocks fell amid fresh speculation that the Fed would accelerate the pace of hikes in its benchmark policy rate this year. The Dow Jones industrial average closed down 299 points.The Fed raised rates three times in 2017 and had projected in December that it would raise rates another three times this year. However, many private economists said they now expected the Fed will boost rates four times this year rather than three.“My personal outlook for the economy has strengthened since December,” Powell said when asked whether the Fed might boost its projection for rate hikes from three to four when it updates its outlook next month.Powell would not say whether the Fed’s projection for rate hikes would change. But he noted a number of ways that the economic outlook has improved since December, including stronger data on growth and inflation, the passage of a $1.5 trillion tax cut in late December and an increase in government spending in a January budget deal.Powell said that he would not speculate on whether the number of hikes would be boosted since any change will depend on the individual forecasts of each of the 15 members of the Fed’s policy committee.But private economists said they saw Powell’s comments as a strong signal that the Fed will be raising its rate forecast at its next meeting in March.Powell’s comments came as he delivered the Fed’s semi-annual monetary report to the House Financial Committee. He will appear before the Senate Banking Committee on Thursday.His reception before the House panel stood in marked contrast to how the committee interacted with Janet Yellen. Republicans often challenged Yellen, a Democrat, during exchanges in which she was often interrupted by male lawmakers who dismissed her answers on a wide variety of topics.A frequent flash-point was Yellen’s objection to GOP-sponsored legislation to limit the Fed’s independence by requiring the Fed to follow a specific monetary rule in setting interest-rate policies.Powell, a Republican tapped by President Donald Trump in November when the president decided against giving Yellen a second term, expressed support in his opening statement for using various monetary formulas to help guide setting interest rates.During a hearing that lasted more than three hours, Powell enjoyed a far more placid exchange with the GOP-controlled committee. A number of Democrats, however, sought to force Powell to criticize a range of Trump economic policies, from tax cuts the Democrats claimed would worsen income inequality, to huge budget deficits that are expected to make deficits climb toward $1 trillion annually.Powell, however, was adept at staying out of political controversies, frequently saying that the subjects he was being asked about were in the realm of policies controlled by Congress and the administration and not the Federal Reserve.In his statement, Powell praised Yellen for the important contributions she made during her four years as the first woman to lead the Fed. He said the two had worked together to ensure “a smooth leadership transition and provide for continuity in monetary policy.”Referring to the wild swings in the stock market that occurred earlier this month, Powell said the Fed does “not see these developments as weighing heavily on the outlook for economic activity, the labour market and inflation.”Powell, who took office on Feb. 5, had been an investment banker before joining the Fed board in 2012.Even with three hikes last year, the Fed’s policy rate remains at a still-low 1.25 per cent to 1.50 per cent. But various market rates, including home mortgage rates, have begun rising in anticipation of further Fed rate increases.In his comments, Powell did not express worries that the economy was starting to overheat, stressing instead a number of developments showing economic strength.“The robust job market should continue to support growth in household incomes and consumer spending,” Powell said.Some economists have raised concerns that recent moves by the Trump administration and Congress to boost economic growth through tax cuts and spending increases could raise the risks of overheating and inflation.But Powell said that the government’s fiscal policy was now “more stimulative,” which he said would help to boost chronically low inflation in recent years. He said that the Fed expected inflation to move up this year and then stabilize around the Fed’s 2 per cent target.last_img read more

Central forces conduct route march in the city

first_imgKolkata: Central forces conducted route march in various parts of the city on Monday as part of area domination and confidence building measure among the people ahead of the Lok Sabha polls. A contingent of central forces along with officials of Kolkata police conducted route march in various parts of north Kolkata. Ten companies of central paramilitary forces had arrived in the state since Friday and are conducting flag marches in different parts of Kolkata and elsewhere before the seven-phase polls in the state beginning on April 11. Also Read – Centuries-old Durga Pujas continue to be hit among revellers On Saturday during their route march the central forces personnel knocked at the doors of the people and assuring them not to be afraid of hooligans. The ruling Trinamool Congress Sunday said the central paramilitary personnel should not “terrorise” the people in the “name of making them feel safe and secure”. The BJP has alleged that TMC is afraid that due to presence of central forces their plans to rig the polls might fall flat.last_img read more

From Golan Heights to access to water UN Human Rights Council resumes

The United Nations Human Rights Council passed three resolutions and adopted seven decisions as it resumed its second session today, considering subjects ranging from the occupied Syrian Golan Heights to the integrity of judicial systems to access to water.Meeting in Geneva, the 47-member body – which replaced the discredited Commission on Human Rights earlier this year – resumed work on resolutions and decisions that were deferred when the second session was adjourned on 6 October.In a resolution on human rights in the occupied Golan Heights, Council members – by a vote of 32 to 14 with one country abstaining – criticized Israel’s 1981 annexation of the area and declared “null and void” any attempts to impose Israeli laws and jurisdiction.Syria’s delegate Khalit Bitar told the Council meeting that Israel had undertaken a deliberate “Judaicisation” of the area following the annexation, changing the Arab Syrian identity of the region’s people.Israeli representative Itzhak Levanon said Syria had on several occasions rejected Israel’s efforts to find a peaceful settlement of the Golan question, and it had also initiated the Six-Day War in 1967 that led to the occupation.In a resolution on a review of the mandates of the Council, members voted 30 to 15 (with two abstentions) to ask an intergovernmental working group on the issue to review a revised draft manual and make recommendations on possible additions or amendments.Turning to a resolution on the issue of human rights and extreme poverty, adopted without a vote, Council members requested that the UN High Commissioner for Human Rights (OHCHR) circulate a set of draft guiding principles among Member States, relevant UN agencies, non-governmental organizations (NGOs) and others on the rights of the poor.In its seven decisions, the Council also:asked the OHCHR to conduct a study on the content and scope of human rights obligations related to equitable access to safe drinking water and sanitation; called on the OHCHR to prepare a follow-up report on the study on the right to the truth;requested the Special Rapporteur on contemporary forms of racism, racial discrimination, xenophobia and related intolerance, when submitting future reports, to include the issue of political participation and representation of vulnerable groups;called on the Secretary-General to study the exploration of new and innovative forms of financing to improve access to medications that fight pandemics such as HIV/AIDS, tuberculosis and malaria;requested the Special Rapporteur on the right of everyone to the enjoyment of the highest attainable standard of physical and mental health, when presenting future reports, to consider identifying and exploring the key features of an effective, integrated and accessible health system;asked the OHCHR to convene an expert consultation to discuss proposed draft guidelines on the effects of economic reform policies and foreign debt on the full enjoyment of all human rights;and called on the Special Rapporteur on the Independence of Judges and Lawyers, when discharging his mandate, to take full account of relevant resolutions on the administration of justice through military tribunals. read more

Princess Charlotte learning ballet after a little introduction from the Royal Opera

The Duchess of Cambridge visits the Royal Opera House The Duchess of Cambridge watches Royal Ballet Principal Dancers Lauren Cuthbertson and Vadim Muntagirov  rehearsing The Two Pigeons  The Duchess of Cambridge watches Royal Ballet Principal Dancers Lauren Cuthbertson and Vadim Muntagirov  rehearsing The Two Pigeons Credit:Heathcliff O’Malley The royal visitor also commented on the build of the dancers, saying: “I was asking if the men’s costumes had shoulder pads and they said ‘no they don’t need them’,” adding that after seeing the dancers the reply now “makes more sense”. Duchess of Cambridge looks at a costume with head of dye deparment Parveen Banga Princess Charlotte has developed an interest in ballet after being given a “little introduction” by a member of the Royal Opera House, the Duchess of Cambridge has disclosed.The Duchess mentioned three-year-old Charlotte’s interest as she thanked a member of the Royal Opera House, adding that her “lucky” daughter has been “so keen ever since”.It is understood that she was referring to her mother and daughter trip to the Royal Ballet’s production of The Nutcracker at the Royal Opera House in December, when they watched a rehearsal ahead of the opening night.According to royal staff, the duchess is “passionate” about learning more on textiles and costume design due to her family history, with her great-great grandfather running the family’s successful textile manufacturing company, Francis Martineau Lupton, in Leeds.–– ADVERTISEMENT ––Principal dancers from The Royal Ballet, Lauren Cuthbertson, Laura Morera, Vadim Muntagirov and Tomas Mock, met the Duchess to explain how their costumes work as they perform, before she watched a rehearsal of the Two Pigeons ballet, which premieres on Friday. Duchess of Cambridge looks at a costume with head of dye deparment Parveen BangaCredit:Heathcliff O’Malley Ms Morera explained her excitement at fitting into a costume she had first worn when she graduated from the Royal Ballet School in 1995, joking: “It was rewarding as a woman.”Later, the Duchess asked the dancers if they “like having the feeling of structure” in their costumes, to which Ms Cuthbertson quipped: “I like to have as much stretch as possible!” Artists from The Royal Ballet and The Royal Opera House use up to 10,000 costumes each year.The costumes department is responsible for storing and refurbishing opera and ballet costumes, some dating back to 1861. Many of these are used time and time again, with the entire refurbishment of a costume taking the workroom around 1,500 hours.During her visit the duchess also visited the pattern room, where she was shown the process of working and creating costumes for a new production with designers, including sourcing fabrics and samples. The Duchess of Cambridge visits the Royal Opera HouseCredit:PA The Duchess was then shown the dye shop, where staff showcased different techniques including dyeing, hand-painting, staining garments and digital printing which allows the team to reproduce historic fabrics no longer available.As designers explained the process of creating each costume, she said: “It’s wonderful to see the detail and the skill set involved.”She added the team were “so talented” and the costumes were “amazing”. read more

Heres What Happened Today Sunday

first_img Source: Manuel Balce Ceneta#TRAVEL BAN: A federal judge issued an emergency order temporarily barring the US from deporting people from nations subject to President Donald Trump’s travel ban.#US: Trump’s travel ban has sparked protests in airports around the country.#UK: Prince William and Prince Harry have commissioned a London statue of Princess Diana.PARTING SHOT Irish actor Aidan Gillen has accidentally become part of a bizarre ‘alt-right meme’. Source: Empics EntertainmentThe Daily Edge explains how. Share Tweet Email Jan 29th 2017, 7:52 PM 12,099 Views By Cliodhna Russell NEED TO CATCH up? brings you a round-up of today’s news.IRELAND Source: AP/Press Association Images 10 Comments center_img Short URL There have been calls for Taoiseach Enda Kenny to cancel his upcoming visit to the White House to mark St Patrick’s Day.Cocaine and heroin worth €3 million were seized in a house in Kildare.Fianna Fáil is the most popular political party in the country, according to the latest opinion poll.A woman was seriously injured in a crash in Lucan village in Dublin this morning.A man in his 20s has died after the car he was driving collided with a bus in Mallow, Co Cork.Daniel O’Donnell’s former manager and business partner of 30 years has been replaced by Majella.Two priests have said the Vatican should change how it deals with clergy and lay people.One of Ireland’s biggest mushroom farms has bought a major rival – all because of Brexit.INTERNATIONAL Here’s What Happened Today: Sunday Calls for Kenny to cancel White House trip, protests continue over Trump’s ban and €3 million worth of cocaine and heroin seized in Kildare – it’s the Evening Fix. Tweet thisShare on FacebookEmail this article Get our daily news round up: Sunday 29 Jan 2017, 7:52 PMlast_img read more

Lutter contre la déforestation pour réduire les émissions de CO2

first_imgLutter contre la déforestation pour réduire les émissions de CO2Un tiers du CO2 est absorbé par le parc forestier de la planète, selon une étude internationale. Dans le contexte du réchauffement climatique, l’étude pointe du doigt les effets catastrophiques de la déforestation tout en rappelant les bienfaits de son arrêt immédiat.Limiter les dégâts de la déforestation c’est encore possible. “Si demain on arrêtait la déforestation, les forêts existantes et celles au stade de la reconstitution absorberaient alors la moitié des émissions des combustibles fossiles”, a expliqué Pep Canadell, coauteur de l’étude publiée par la revue américaine Science. Pour étudier la participation des arbres au cycle du carbone, les chercheurs experts du réchauffement climatique ont réuni des données datant de 1990 à 2007 puis les ont analysées. Les résultats ont alors permis de montrer que les forêts boréales, tropicales comme celles des régions tempérées absorbent 2,4 milliards de tonnes de carbone par an. La déforestation, elle, est responsable de l’émission de 2,9 milliards de tonnes par an, soit environ 26% du total des émissions qui se chiffrent à plus de 8 milliards de tonnes par an. Ainsi, l’étude a montré que pour la première fois, dans les régions tropicales le volume de carbone émis du fait de la déforestation a été contrebalancé par celui absorbé par les forêts primaires intactes avec, au final, un bilan carbone presque nul. Les chercheurs ont alors mis en évidence que les rejets de CO2 lors de la déforestation ont été compensés par l’absorption de CO2 issue de la repousse des forêts secondaires dans les zones où l’agriculture a été abandonnée, explique l’AFP.Des conclusions qui demandent des actionsÀ lire aussiQui est Greta Thunberg, proposée pour un prix Nobel à seulement 16 ans ?D’après Pep Canadell, deux principaux enseignements sont à retenir de cette étude. D’une part, “les forêts ne sont pas seulement de très importants réservoirs de carbone mais elles absorbent également très activement le CO2 produit par les activités humaines, aussi les forêts prennent de plus en plus le devant de la scène dans une stratégie pour protéger notre climat,” confirme t-il. D’autre part, une solution financière est tout à fait abordable dans le cadre de la REDD+ (Réduction des émissions dues à la déforestation et à la dégradation des forêts). En effet, des économies découlant d’une meilleure gestion de la forêt sont, “plus importantes que ce que l’on pensait”, affirme t-il. Pourtant, selon le rapport “Situation de la gestion des forêts tropicales 2011”, plus de 90% des forêts tropicales sont aujourd’hui mal voire pas du tout gérées. Ce dispositif permet de tirer profit des réductions de la déforestation par des engagements de compensations financières. Le but est de conduire les pays ayant des forêts tropicales à les gérer de manière durable. Ce procédé d’investissement dans un économat vert a été adopté  lors de la conférence de l’ONU sur le climat à Cancun (Mexique) fin 2010. Un niveau très élevé en 2010 Par ailleurs, le 1er juin, carfree rapportait que les émissions de CO2 ont atteint un niveau jamais connu : 1,6 gigatonnes pour l’année 2010, faisant craindre une élévation de la température au delà du seuil “dangereux” de 2 degrés Celsius, selon une estimation de l’Agence internationale de l’énergie (AIE), citée par le Guardian fin mai. La lutte contre la déforestation pourrait ainsi être un bon moyen de rabaisser le niveau des émissions.  Le 17 juillet 2011 à 10:07 • Maxime Lambertlast_img read more

Mourinho Liverpool must win the title

first_imgManchester United boss Jose Mourinho has piled the pressure on counterpart Jurgen Klopp by declaring that Liverpool will have to win the Premier League this season after all the money they have spent this yearLast season’s Champions League finalists have now spent over £250m on new players this year following the arrival of AS Roma’s Alisson, that saw the Brazilian become the world’s most expensive goalkeeper after Liverpool had agreed to buy him for £66m.And Mourinho, who himself has spent heavily in marquee signings in the past for Chelsea, knows exactly what kind of pressure Klopp will under this season and he insists that delivering silverware will be a must for him.Just earlier this week, Klopp himself confessed that Liverpool have to win trophies in the new season.“I think if you have the money, if you invest well, is better than to have it in the bank, because the interests are very low,” Mourinho told reporters with a smirk after his side’s 9-8 penalty win over AC Milan in the International Champions Cup,” said Mourinho, according to Goal.harry maguire, manchester UnitedMaguire says United need to build on today’s win George Patchias – September 14, 2019 Harry Maguire wants his United teammates to build on the victory over Leicester City.During the summer, Harry Maguire was referred to as the ultimate…“The problem is you have to invest well and honestly I think they did very well because every player they bought are quality players and I’m happy for them.“And I’m also happy to smile and to see that, you know, you can change your opinion and change as a person. It’s funny. But that’s okay.“But maybe this season finally you demand that they win. You, I think, you have to be fair and now you have to demand and say the team with investments you are making with investments that you start making last season, not just this season, last season.“That you made in January, that you make now, that will probably be the record of the Premier League this season, I don’t see another team getting close to that level of investment, a team that was a finalist in the Champions League, you have to say you are a big candidate. You have to win.”The last time Liverpool lifted a major piece of silverware came in 2012, where they defeated Cardiff City 3-2 on penalties to win the League Cup.last_img read more

Man steals 800 worth of whitening strips at Weston CVS

first_imgWESTON, FLA. (WSVN) – – A bandit apparently concerned with hygiene stole hundreds of dollars worth of teeth whitening strips.Surveillance video captured the man stealing a dozen boxes of Crest Whitening Strips from a drug store, on Nov. 27.The video showed the man as he walked in and then ran out of the store with $800 worth of the supplies after an employee tried to stop him.The robbery happened at a CVS Pharmacy located near Indian Trace and Saddle Club Road in Weston.Police believe the thief fled in a van with a Florida tag of EAJ742.If you have any information on this theft, call Broward County Crime Stoppers at 954-493-TIPS. Remember, you can always remain anonymous, and you may be eligible for a $3,000 reward.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.last_img read more

FPL crews work to restore power in Puerto Rico after Maria

first_img“Getting the lights back on in Puerto Rico is personal.” For Frank, his role in restoring power will impact the lives of many of his friends and family on the island. @AEEONLINE @Edison_Electric @USACEHQ @femaregion2 #OneTeamOneMission #PoweringPR— FPL (@insideFPL) January 15, 2018Thousands of residents have been left in the dark for months since the devastating Category 4 storm roared through last September.A full restoration of power isn’t expected until May.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. BAYAMON, Puerto Rico (WSVN) — Florida Power and Lights crews flew to Puerto Rico to help parts of the island still recovering from Hurricane Maria.Crews worked to restore electricity in Bayamón, a city near San Juan. They said they will remain in the U.S. territory for as long as they’re needed.last_img read more

Dog rescued from Lauderhill canal officials search for owners

first_imgLAUDERHILL, FLA. (WSVN) – Firefighters came to the rescue of a dog in distress in a Lauderhill canal.Lauderhill firefighters worked to pull the helpless Rottweiler mix to safety from the canal, located near the 3500 block of Inverrary Drive, Monday afternoon. Now they want to find her owners.“It’s like what we live for,” said Lauderhill Fire Rescue Capt. Josh Shuch.Officials found the dog walking in and out of the water along the canal’s edge. With help from a crew at a nearby golf course, officials were able to rescue the canine.“We made every attempt possible,” said Lauderhill firefighter Jake Marchese. “We got a boat from the golf course and put our efforts together. We were able to get the dog out. It was very rewarding.”Shuch said that they had to work all angles of the situation. “We had to coordinate both sides, went in with a boat, and that’s how we basically lassoed the dog and assisted it to the south side of the bank,” Shuch said.Crews named the dog Shivers because when they got a hold of her, she was actually shivering from the water. The firefighters who rushed to Shivers’ aid said they are grateful they could make the save before she got into more serious trouble.“It’s different than our normal call, which is normally rescuing a person, so for us to make a difference with an animal, a different type of call, it’s more rewarding,” Shuch said. “A change of the norm.”Broward Animal Care and Control was called in to take Shivers to the county shelter. They are working to find the dog’s family.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.last_img read more