Month: November 2017

As India starts to use blockchain technology for land deals, it must protect the rights of the most vulnerable with policies for the responsible use of big data, analysts said. At least two Indian states are testing blockchain — a ledger system tracking digital information — to record land deals and bring transparency to a system that is rife with fraud and leaves the poor at risk of eviction. Putting India’s land records on blockchain — the technology behind the bitcoin currency — would greatly increase efficiency, reduce corruption and boost economic growth, experts say. But fears about the misuse of data persist. “One of the biggest challenges with respect to big data is the fear of discrimination and profiling based on religion, caste or income level,” said Nikhil Narendran, a partner at the law firm Trilegal. “The government should engage in responsible and ethical big data processing, and have adequate mechanisms to retain ownership and confidentiality,” he said in Blockchain for Property, a handbook for its adoption, released Tuesday. Land records in most Indian states date to the colonial era, and most land holdings have uncertain ownership. Fraud is rampant, and disputes over titles often end up in court. Torn maps, old disputes A national land record modernization program, launched in 2008 to survey lands, update records and establish ownership, has been delayed by torn maps and disputes dating back decades. Blockchain works by creating permanent, public “ledgers” of all transactions, potentially replacing a mass of overlapping records with …

The fashion industry urgently needs to reform its wasteful, polluting ways, British designer Stella McCartney and record-breaking sailor Ellen MacArthur said Tuesday. With global clothing sales doubling since 2000, people now wear each item far fewer times, the Ellen MacArthur Foundation said, calling for items ranging from T-shirts to jeans to be designed differently and reused more. The charity, established in 2010, has pioneered the shift toward a “circular economy” in which raw materials and products are repeatedly reused to reduce waste and pollution. “In a new textiles economy, clothes would be designed to last longer, be worn more and be easily rented or resold and recycled, and would not release toxins or pollution,” it said. The fashion industry is worth about $2.4 trillion a year, according to the global consultancy McKinsey. The equivalent of one garbage truck of textiles is wasted every second, and less than 1 percent of clothing is recycled into new clothes, MacArthur’s foundation said in a report. If nothing changes, the fashion industry will consume a quarter of the world’s annual carbon budget by 2050, it said, referring to the emissions the world can make while keeping the global temperature rise at no more than 1.5 degrees Celsius. ‘Take-make-dispose’ Fashion must abandon its “take-make-dispose” model, where unwanted clothes are sent to landfill sites or incinerated, and start using nonpolluting materials that are designed to last and could save the industry $500 billion, it said. “The report presents a road map for us to create better …

Women need to be given a greater role in industries in poorer nations to meet the global goal of cutting poverty by 2030, the head of the United Nations industrial development agency said on Monday after being voted in for a second term. Li Yong said empowering women will be a priority in his second four-year stint as director general of the United Nations Industrial Development Organization (UNIDO), which oversees about 860 projects to boost economic growth and tackle poverty. Data shows about half of the world’s women are in the labor force compared with about 75 percent of men, hold less senior roles and earn on average 60 to 75 percent of what men make. But studies repeatedly show that more women working accelerates economic growth, while women also invest more of their income into families to educate children and end poverty. “We need to look at how our projects help women’s empowerment and job creation,” Li, formerly of China’s Ministry of Finance, told the Thomson Reuters Foundation in an interview at UNIDO’s 17th General Conference in Vienna. “Lots of projects like agro-industry are related to women’s empowerment … and one part of our evaluation is to look at women’s empowerment, at training, at jobs, all those things that are very concrete measures.” Li was widely praised in his first term in office for re-establishing UNIDO as a key development organization in the U.N. system with a mission to promote industry as a driver to create jobs, boost prosperity, …

Diplomats are searching for ways to prevent the global trade dispute resolution system from freezing up, after the Trump administration blocked appointments to the body that acts as the supreme court for global trade. U.S. President Donald Trump has vetoed the appointment of judges to fill vacancies on the seven-member Apellate Body of the World Trade Organization, which provides final decisions in arguments between countries over trade. “Members are already having a conversation about what to do with this situation,” WTO Director General Roberto Azevedo told reporters. “They are floating ideas, they are discussing. We have to see how that evolves.” The WTO normally has seven judges and needs three to sign off on every appeal ruling. But two have left and another goes in December, leaving only four — just one above the minimum — to deal with a growing backlog of trade disputes. Azevedo said he did not think the situation was a threat to the WTO’s survival but it was already having an impact, and the longer it went on the more acutely it would be felt. In a confidential note sent to all WTO members on Monday, a copy of which was reviewed by Reuters, the Appellate Body said departing judges would continue working after they left on appeals filed before their terms ended. The United States has objected to that practice in the past. Appointments to the Appellate Body are meant to be unanimously agreed by all 164 members, like all decisions at the WTO. …

A general appointed at the weekend to run Venezuela’s energy sector will name more military officers to senior management posts at state oil company PDVSA as part of a shakeup the government says is aimed at fighting corruption, two company sources told Reuters on Monday. In a surprise move, unpopular leftist President Nicolas Maduro on Sunday tapped Major General Manuel Quevedo to lead PDVSA and the Oil Ministry, giving the already powerful military control of the OPEC nation’s dominant industry. Besides the corruption scandals, Quevedo will have to tackle an attempted debt restructuring, within the context of a deep recession and debilitating U.S. sanctions. Sources in the sector said Quevedo’s appointment could quicken a white-collar exodus from PDVSA and worsen operational problems at a time when production has already tumbled to near 30-year lows of under 2 million barrels per day. About 50 officials at state oil company PDVSA have been arrested since August in what the state prosecutor says is a “crusade” against corruption. Sources within PDVSA and the oil industry said Maduro’s administration was using corruption allegations to sideline rivals and deepen its control of the industry, which accounts for over 90 percent of export revenue. “The order given is to militarize PDVSA in key areas,” said a PDVSA employee, asking to remain anonymous because he was not authorized to speak to the media. A second source said he was told military officials would take over key production divisions in Venezuela’s east and west. Venezuela’s president, a former …

In the United States, it’s Cyber Monday, a day when holiday shoppers could set a new spending record for online purchases from work, home or anywhere with their cellphones. With rising wages in the U.S., low unemployment and strong consumer confidence, research firm Adobe Analytics predicted shoppers could spend $6.6 billion on Monday, more than a 16 percent jump over last year’s record-setting total. Online shopping has been increasing steadily in the U.S. for years as many consumers stay away from traditional brick-and-mortar stores in favor of the convenience of shopping from laptop computers, hand-held devices or, to the dismay of their employers, workplace computers. Black Friday Black Friday, the day after last week’s Thanksgiving holiday in the U.S., is traditionally the biggest holiday shopping day of the year, coming a few weeks ahead of gift-giving at Christmas and Hanukkah. Equity firm Consumer Growth Partners estimated Friday’s sales, both in stores and online, at about $33 billion, a 4.8 percent advance over 2016. Even as shoppers, lured by discounted prices, thronged to stores on Friday to buy the latest tech gadgets, toys and clothing, retailers reported that overall, the number of shoppers in their stores dipped a bit, an indication that many buyers were instead shopping online. The National Retail Federation is predicting that U.S. consumer spending in November and December could climb 4 percent over a year ago to $682 billion, which would make this the strongest holiday shopping season since 2014. Competition Two of the biggest online retailers …

Startup founders, investors and tech leaders from around the world are heading to Hyderabad, India for the 8th annual Global Entrepreneurship Summit, co-hosted by the U.S. and Indian governments. Ivanka Trump, adviser to U.S. President Donald Trump and his daughter, will join host Prime Minister Narendra Modi in kicking off the three-day event, which will focus on women in business. More than 1,500 participants from 150 countries are expected at the event, which runs from November 28 through 30.   It had not been clear whether the Trump administration would continue the annual summit that was launched at the White House by the Obama administration in 2010. Trump has focused on domestic growth and U.S. job creation with an “America first” message. But in June, Prime Minister Modi, while visiting the White House, announced that the two countries would co-host the summit.   America first, global partners   The gathering comes as the U.S. and India appear to be working to strengthen ties.   Having an “America first” economic policy is “not exclusive of collaboration, partnership and strong economic security and social relationships around the world,” said a senior administration official, speaking anonymously.   The summit is “a testament to the strong friendship between our two people and the growing economic and security partnership between our two nations,” said Ivanka Trump during a news conference this week. Participants at this year’s summit will represent four industry sectors — energy and infrastructure, health care and life sciences, financial technology and digital economy, and …

Guillermo Miranda Vazquez starts his day in a parking lot near the Home Depot where he easily finds work alongside other day laborers who are cleaning up Houston after Hurricane Harvey. Some days, he clears rotted drywall and hauls out furniture and carpet destroyed by Harvey’s floodwaters. Other days, he chops fallen trees or helps to lay the foundations for new homes. He ventures daily into homes wearing a T-shirt, work pants and tennis shoes, often while surrounded by the pungent stench and raw sewage that flowed into homes during the flooding.   “I always wash and scrub myself, and I use alcohol or something similar so that I don’t get infected,” said Miranda, a native of Guatemala. “I haven’t gotten sick yet.”   Hundreds of day laborers like Miranda have quietly become an integral part of the recovery from Harvey, toiling in dangerous conditions amid the fear of being picked up by immigration authorities.   Harvey damaged or destroyed 200,000 homes and flooded much of Houston and smaller coastal communities with record amounts of rain and high winds. In a construction industry that already had labor shortages before the storm, it created a massive demand for the kind of work that day laborers have long performed after hurricanes and tropical storms. Day laborers interviewed by The Associated Press said they’ve been hired by a mix of individual homeowners, work crews from out of state, and subcontractors working on residential and commercial buildings. Mostly immigrants, they operate in plain sight, …

The driest Thanksgiving weekend in five years may have helped holiday shopping, despite an overall decline in foot traffic. But some shoppers just took notes in the hopes of finding an even better deal online.   That’s a consequence of Amazon continuing to squeeze prices, exacerbating the “showrooming” practice of people getting ideas at brick-and-mortar stores, then buying online.   Heather Just and husband Dominic of Rockford, Illinois, brought their twin 11-year-old boys and 13-year-old son to the giant Water Tower Place on Chicago’s Magnificent Mile on Saturday to see “what their eyes get big about.”   The excursion was more recon mission than shopping spree. “We’re watching, we’re watching,” she told her sons, who focused their attention on a Nintendo Switch portable game console.   Amaz-ing prices   Amazon continues to beat prices at other retailers in many cases, according to marketing technology company Boomerang Commerce.   For example, it pointed out that Amazon cut prices on Beats Solo 3 wireless headphones. The Associated Press found them on Amazon selling for $200, $10 below BestBuy.com, and $40 below the Black Friday deal at Target.   But Walmart isn’t far behind in high-tech price matching. Following its purchase of Jet.com last year for $3.3 billion, the company can now quickly ratchet prices down on popular items using machine-learning algorithms, while maintaining profit margins on lesser-trafficked items.   The technology has set up Walmart and Amazon for a “clash of the titans” in online sales where consumer perceptions of prices are …

Wildfires that swept through Northern California in early October killed 42 people, destroyed hundreds of homes, and caused an estimated $6 billion in damage to the region. The fires have also frozen an income stream the region relies on: tourism. VOA’s Kevin Enochs reports. …

Black Friday and Thanksgiving online sales in the United States surged to record highs as shoppers bagged deep discounts and bought more on their mobile devices, heralding a promising start to the key holiday season, according to retail analytics firms. U.S. retailers raked in a record $7.9 billion in online sales on Black Friday and Thanksgiving, up 17.9 percent from a year ago, according to Adobe Analytics, which measures transactions at the largest 100 U.S. web retailers, Saturday. Adobe said Cyber Monday is expected to drive $6.6 billion in internet sales, which would make it the largest U.S. online shopping day in history. Traditional retailers prepared In the run-up to the holiday weekend, traditional retailers invested heavily in improving their websites and bulking up delivery options, pre-empting a decline in visits to brick-and-mortar stores. Several chains tightened store inventories as well, to ward off any post-holiday liquidation that would weigh on profits. TVs, laptops, toys and gaming consoles — particularly the PlayStation 4 — were among the most heavily discounted and the biggest sellers, according to retail analysts and consultants. Commerce marketing firm Criteo said 40 percent of Black Friday online purchases were made on mobile phones, up from 29 percent last year. No brick-and-mortar data yet No brick-and-mortar sales data for Thanksgiving or Black Friday was immediately available, but Reuters reporters and industry analysts noted anecdotal signs of muted activity — fewer cars in mall parking lots, shoppers leaving stores without purchases in hand. Stores offered heavy discounts, creative …

Who’s the boss? That’s the awkward question after the departing head of a government agency charged with looking after consumer rights appointed a deputy to temporarily fill his spot. The White House then named its own interim leader. One job, two people — and two very different views on how to do it. The first pick is expected to continue the aggressive policing of banks and other lenders that have angered Republicans. The second, President Donald Trump’s choice, has called the agency a “joke,” an example of bureaucracy run amok, and is expected to dismantle much of what the agency has done. So come Monday, who will be leading the Consumer Financial Protection Bureau? ​Both say law on their side Senior Trump administration officials said Saturday that the law was on their side and they expect no trouble when Trump’s pick for temporary director of the CFPB shows up for work. Departing director Richard Cordray, an Obama appointee long criticized by Congressional Republicans as overzealous, had cited a different rule in saying the law was on his side. In tendering his resignation Friday, Cordray elevated Leandra English, who was the agency’s chief of staff, into the deputy director position. Citing the Dodd-Frank Act that created the CFPB, he said English, an ally of his, would become acting director upon his departure. Corday’s move was widely seen as an attempt to stop Trump from shaping the agency in the months ahead. The White House cites the Federal Vacancies Reform Act of …