Aug 10, 2023

US Consumer Prices Data Set to Show Subdued Core Inflation Again From Robots to Recycled Vapes, Ukraine’s War Effort Gets Inventive Japan, Korea Tourism Stocks Rise on Prospect of Chinese Visitors China Allows Group Tours to US, UK, Japan in Major Travel Boost Deflation in China: Why Prices Are Falling and What Beijing Can Do Osaka Gas, Sumitomo Near Deal for Think Gas Stake, Sources Say Australia Labor Strikes Risk 10% of Global LNG in Threat of New Energy Shock Ecuador Presidential Candidate Villavicencio Shot Dead: Expreso Global Funds, Japan Banks Have Big Opposing Bets on JGB Futures Chinese Appliance Giant Midea Picks BofA, CICC for Hong Kong Listing SEC Seeks to Appeal Ruling That Ripple XRP Isn't a Security Alibaba’s Options Signal Increasing Optimism Ahead of Earnings Philippine Economy Rises 4.3% Last Quarter, Below All Estimates China Mpox Cases Surge as Virus Spreads to More Parts of Country City Developments Profit Drops Despite Jump in Property Business Singapore’s OK Lim Faces Liquidators, Banks in $3.5 Billion Case Country Garden Chair Has Lost More Wealth Than Any Billionaire Sony Falls Most in a Year on Pessimism Over Smartphone Demand New Zealand Concrete Industry Sets Emissions Reduction Target From Robots to Recycled Vapes, Ukraine’s War Effort Gets Inventive Osaka Gas, Sumitomo Near Deal for Think Gas Stake, Sources Say Asian Stock Futures Lower After Wall Street Drops: Markets Wrap Australia Labor Strikes Risk 10% of Global LNG in Threat of New Energy Shock Philippine Economy Rises 4.3% Last Quarter, Below All Estimates Oil Holds Nine-Month High as Supply Risks Offset US Stockpiles Singapore’s OK Lim Faces Liquidators, Banks in $3.5 Billion Case New Zealand Concrete Industry Sets Emissions Reduction Target Founder of Failed Commodity Trader Noble Sues Over Restructuring Soaring Rice Prices Stretch Budgets for Billions in Asia, Africa Maduro Regime Wins €1.35 Billion Order to Return Venezuela Funds Occidental Names Strategy Head Sunil Mathew as CFO US, Saudis Agree to Broad Terms for Israel Normalization: WSJ Bitcoin Miner Riot Made Millions From Credits During Heat Wave Maui Wildfires Kill 6, Destroy Historic Town as Residents Flee Into Sea Biden’s Economy Is Bringing ‘Supply Chains Back Home,’ He Says Biden-Backed Bus Maker Got Millions in US Aid Before Bankruptcy TSX recap: Index rebounds up 0.34% on energy stocks Biden Supports Aid for Victims of ‘Oppenheimer’ Nuclear Test U.S. stocks close well off lows as dip buyers emerge The Daily Chase: 13 companies on the TSX report results today ​Long awaited economic slowdown has begun: Economists ​The Daily Chase: Canada loses jobs in July; Amazon earnings impress Canada’s economy sheds jobs but wage growth stays high ​This is what economists are expecting from Friday's national jobs report Toronto home sales and prices up from last July, down from June: TRREB ​The Daily Chase: It's a big earnings day on the TSX ​Expect interest rates to remain high until 2025: former BoC governor The Daily Chase: U.S. credit rating downgraded; Cameco quarterly results New condo prices in Toronto drop for the first time in a decade: Urbanation 6.6 million 'unsafe vehicles' ply the roads despite safety recalls: Transport Canada Rejected agreements show workers are fighting to catch up: experts The Daily Chase: Uber shares surge; TFI reports results U.S. stock traders refrain from big bets after rally The Daily Chase: Tentative deal in port strike; Salesforce pressure point Economy grew in May despite wildfire effects, looks to have slowed in June: StatCan Federal government posts $1.5B surplus for first two months of fiscal year Softness is starting to creep into the Canadian economy: Economists Bumper Year for Banks Draws Political Backlash as Slowdown Nears Deflation in China: Why Prices Are Falling and What Beijing Can Do Ecuador Presidential Candidate Villavicencio Shot Dead: Expreso Pakistan Dissolves Parliament as Election-Delay Speculation Mounts Pelosi to Let Husband’s Alleged Attacker Inspect Her Home American VCs Fought Back Strict Biden Rules on China Investments. But More May Be Coming Trump Says He Won’t Sign Pledge to Back Nominee Ahead of Republican Debate Kim Jong Un Reviews Attack Plans Before South Korea-US Drills US, Saudis Agree to Broad Terms for Israel Normalization: WSJ Biden-Backed Bus Maker Got Millions in US Aid Before Bankruptcy Biden issues an executive order restricting U.S. investments in Chinese technology Twitter Fined $350,000 in Secret Justice Department Fight Over Trump Records Ukraine Recap: Talks Ongoing to Restart Grain Deal, Erdogan Says After a Win in Ohio, Abortion Rights Groups Are Backing Ballot Measures in 2024 Lawmakers Probe Nonprofit Hospitals, Challenge Tax-Exempt Status Census workers logged hundreds of cases of violence, harassment by public: documents Brazil Moves to Allow Amazon Oil Drilling, Marring Lula’s Summit Trump Blames Early Voting Methods for 2020. Now His Allies Are Embracing Them for 2024 NYC Faces $12 Billion Price Tag to Handle Migrant Crisis Japan, Korea Tourism Stocks Rise on Prospect of Chinese Visitors SEC Seeks to Appeal Ruling That Ripple XRP Isn't a Security Alibaba’s Options Signal Increasing Optimism Ahead of Earnings Sony Falls Most in a Year on Pessimism Over Smartphone Demand American VCs Fought Back Strict Biden Rules on China Investments. But More May Be Coming Biden Signs Narrow China Investing Rules as US Seeks Better Ties Viasat Says Troubled Satellite to Delay Growth, Seeks Cause ‘I Never Talked Business’ With Hunter Biden’s Partners, President Says Virgin Galactic Is Set to Fly First Private Tourists to Space Avid to Be Acquired by Private Equity Firm STG for $1.4 Billion Bitcoin Miner Riot Made Millions From Credits During Heat Wave WeWork’s ‘Substantial Doubt’ About Its Future Marks a Stunning Fall Biden’s Economy Is Bringing ‘Supply Chains Back Home,’ He Says AI Lender Upstart’s 445% Rally Fades After Outlook Dampens Frenzy Apple can keep App Store rules for now as top U.S. court spurns Epic Ukraine Recap: Talks Ongoing to Restart Grain Deal, Erdogan Says Fitch Sees Mexican Corporate Downgrades Rising on High Rates Private Credit Firms Build Cash Hoards to Gain Share of $5.2 Trillion Consumer Debt Market GM Throws Down Luxury SUV Gauntlet With $130,000 Cadillac Escalade IQ EV The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Bitcoin Flashes Signals of Possible Spike in Volatility After Historic Lull Exuberant Homebuilder Rally Runs Counter to Housing Market Woes Cathie Wood Says SEC Will Approve Multiple Bitcoin ETFs at Once Fired-Up Traders Get Burned in 'Everything Selloff' Bitcoin Loses Mojo After First-Half Rally Fails to Reignite Enthusiasm Atlassian Jumps on Cloud Forecast, Quieting Slowdown Fears Introducing the ‘No Downside’ Exchange-Traded Fund Coinbase Rally Leaves Analysts Divided on the Crypto Exchange Money Flows Into Commodities Again as Growth Fears Start to Ease MicroStrategy’s Saylor Expects to Retain Appeal Even If Bitcoin ETF Is Approved Ether-Futures ETF Filings Return En Masse Amid Crypto Optimism Lack of ‘Catalyst’ Leaves Crypto Volatility At Multi-Year Lows State Street Undercuts BlackRock, Vanguard With Cheapest S&P ETF Bitcoin Turns Less Volatile Than S&P 500, Tech Stocks and Gold Nomura’s Digital-Asset Subsidiary Gets Full Dubai Crypto License Biggest Oil ETF Sees Record Cash Withdrawal as Crude Tops $80 The Psychedelics Stock Universe Is Shrinking, Despite the Hype BlackRock, Worldcoin, Ripple: Bitcoin Bull Mike Novogratz Dishes on Crypto Traders Are Risking It All on Bets That Market Boom Will Last BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Marc Champion and Olesia Safronova, Bloomberg News Mykhailo Fedorov. Photographer: Andrew Kravchenko/Bloomberg , Bloomberg (Bloomberg) -- The science conference had all the hot topics you’d expect, from artificial intelligence to gene therapy. But this year’s annual gathering of brains in Kyiv had a decidedly Ukrainian twist — the innovations on exhibit were for war. A maker of attack drones was diversifying to unmanned ground combat vehicles. From the Academy of Sciences came a prototype underwater robot for finding and collecting submerged land mines. One startup was developing low-cost combat communications; another, a web-based test to find warning signs of post-traumatic stress disorder, or PTSD. In the 18 months since Russia’s invasion, Ukraine’s resilience with the help of mainly NATO-member weaponry has come to define the war. Less noticed is a cottage industry of battlefield gadgetry that’s starting to bear fruit. Ukraine, like Russia, has a strong science base, a legacy of the Soviet-era focus on math and engineering. While no single device will change the course of the conflict, the government is trying to consolidate the nation’s sometimes chaotic entrepreneurial output in the belief that — taken together — it can make a difference. One such innovation, explosive sea drones, has been under intense development in Ukraine since last year. At the weekend, the newest iterations were able to strike and cripple both a Russian warship and oil tanker in the Black Sea. That followed the success of a year-old project that helped accelerate the development and production of aerial drones. To package everything in one place, Ukraine’s government in April started an incubator for all forms of military innovation, called Brave 1. Organizers say they’ve registered about 400 projects in four months, and Ukraine’s armed forces have so far vetted 186 as potentially useful. Sixty are in robotics, more than 25 in AI, and 70 are for unmanned aerial vehicles, or UAVs. “Our task is to develop military technologies in Ukraine,” said Mykhailo Fedorov, Ukraine’s minister for digital transformation, who described Brave 1 as the institutionalization of his Army of Drones program. Success ultimately will be judged on how many projects get state contracts, he said.There are plenty of contenders. Some are adapting existing kit, others are making cheaper versions of Western equipment Ukraine can’t afford, and others again just respond to feedback from friends on the battlefield. Take Himera Tech. It set out to build affordable, jam-resistant radio handsets shortly after Russian President Vladimir Putin’s forces attacked in February 2022. It took until April this year for the first units to roll off their production line and about 600 are now in use at the front, according to co-founder Misha Rudominski. The company registered with Brave 1 in May. The trick to building cheaper is the software the company developed to maximize performance in commercially available chips, Rudominski  said. Radio sets made with military grade chips are more secure, but also cost thousands of dollars apiece. With as many as 250,000 combat soldiers to equip, that’s a bill Ukraine can’t foot. “We wanted to build a solution that is just good enough,” Rudominski said at his stall at June’s Inscience conference in Kyiv. “This wouldn’t defeat US or Chinese electronic warfare systems, but it doesn’t need to. We’re fighting the Russians.” Himera Tech expects to produce 2,000-3,000 units per month by the end of the year. It isn’t yet selling to the Ukrainian Defense Ministry, but that’s the aim and the company reckons it could then scale to 10,000 units per month. A model that can compete with military grade kit is in development, according to Rudominski. Another Kyiv-based outfit, Power Kit, uses discarded electronic cigarettes to make power banks. Ivan Volynets, who founded the nonprofit together with five other IT specialists, described how in the first days of the Russian invasion they asked friends on the front line what they needed. The answers boiled down to night vision, power banks and weapons. They made a night vision device paired with its own power bank and took it to the defense ministry. To their surprise, it was the power bank the army wanted, because they charge all the electronics front-line soldiers rely on, including night-vision gear, drones and communications. The first Power Kit emerged in May 2022, built in the kitchen of the hotel the team were staying at in Lviv, western Ukraine, said Volynets, 30. They’ve since made more than 2,100 at a cost of about $15 each and distribute them free of charge to soldiers.Read More:Europe Can’t Supply Ukraine With Weapons Fast Enough, Here’s WhyUkrainians Dig Into Their Own Pockets to Fund Drones and MortarsUkraine Arms Chief Ramps Up Production Despite Missile Strikes Yevhenii Rvachov was IT specialist working with civilian drones in the northern city of Kharkiv before the invasion. He too consulted with soldiers after co-founding a company, Skylab UA, to make a bomb-dropping quadrocopter — a drone with four rotors — in April last year. They told him they needed ground robots to make supplying forward positions less dangerous. So Skylab built the Sirko-S, a remote-controlled go-cart-like carrier with thermal cameras that can be used to bring up supplies or evacuate wounded. They’ll cost of $8,000-$10,000 each. The company’s $5,000 “Johnny” is a shoe-box-size version, with a view to forward surveillance, kamikaze bombing runs or to help emergency services find survivors in collapsed buildings, according to Rvachov. All three products are registered with Brave 1, with grants approved, according to the organizers. Ten quadrocopters are in action at the front. Close to the Polish border, a company called Citius-S is converting six-wheel drive cargo trucks into armored vehicles for clearing land mines and unexploded ordinance. The State Emergency Service of Ukraine saw the prototype in action last month and ordered 33 units, according to the company. For underwater mines, the Institute for Problems of Artificial Intelligence at Ukraine’s Academy of Sciences is developing a submersible device to find and retrieve ordinance left behind by the Russians. A prototype of the cuboid robot just began tests of its electronic systems, according to Sergii Simchenko, a PhD candidate in physics and math at the institute, who is working on the project. Not every innovation or adaptation is about weapons, though. The Bohun amphibious all-terrain vehicle has huge tires with fin-like tread to climb over fallen trees or cross lakes and rivers. It was designed for Ukraine’s hunters and fishermen, and since the Russian invasion a number were adapted for military use and sent to the front. But in June, six of the newer Bohun-2 model also were converted to help evacuate victims of the flooding around the city of Kherson that followed destruction of a  dam on Ukraine’s massive Dnipro River. Lights and loudhailers were added outside the cabins, as well as extra batteries, removable seats and helicopter-ready metal stretchers inside. Back at the Inscience conference, Sergiy Danylov was showing off the software his team at Anima have created. It uses an image-based test to measure levels of depression and anxiety with a web cam that follows eye movement to add objectivity. The test involves looking at a series of trigger images, such as snakes, spiders and mutilated corpses, in each case on a split screen with more emotionally neutral options opposite. The key lies in how subjects respond, with some looking away to avoid the danger signals and others unable to take their eyes off them. That helps with diagnosis of battle stress, which if caught early can be prevented from developing into PTSD, said Danylov, who has a PhD in neurobiology. The Anima program is for now aimed at soldiers and refugees, but the Ukrainian Health Ministry said last year that PTSD could end up affecting 57% of the population. Anima has given the software to combat psychologists, who are using it unofficially to measure stress levels among troops and rest those at risk. The program has not yet been approved and licensed by the regulator, a years-long process. But it’s already on the radar of the Brave 1 program. “Know this team,” Iryna Supruniuk, Communications Lead at Brave 1, said in an emailed response to questions. Anima wasn’t yet on her platform, she said, but it seems only a question of time. “Really nice solution.”