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You are here: Home / Archives for Business & Financials

Chinese Drug Dealers Shipping Drugs to U.S. via Postal Service

January 28, 2018 By Dean Lamori Leave a Comment

USPS vanOn Thursday, Beijing seemed willing to cooperate with U.S. authorities on an investigation into illegal drug shipments via the U.S. Postal Service from China to domestic drug dealers. Opioid manufacturers in China reportedly exploited the weak screening practices in the U.S. to introduce large quantities of illega; opioids into the U.S. market.

A spokesperson for the foreign ministry said that China is ready to boost coordination with the U.S. in that field. On Wednesday, the U.S. Congress had unveiled a year-long probe into the issue.

U.S. investigators found that Chinese sellers are delivering powerful opioids like fentanyl via the U.S. postal system to local drug dealers. The Chinese are exploiting the fact that the postal service lacks an electronic screening system that could help authorities detect illegal shipments.

USPS Screening Just One-Third of Chinese Shipments

Chinese drug manufacturers are also taking advantage of a surge in Chinese shipments to the United States due to a growth in e-commerce. U.S. authorities found that the U.S. Postal Service can electronically screen just one third of the total shipments coming from China.

This means that around 300 million packets per year are not properly screened. Congress found that the postal system has not improved its screening system in the last year despite the probe.

By contrast, the postal service claims that there has been a rise in the number of packages containing illegal drugs detected by the US Customs and Border Protection. A spokesperson for the service said the “serious societal problem” needs to be addressed and the Postal service is tirelessly working to fix it. The spokesperson explained that the electronic screening system cannot be fully implemented because there are some issues left that need to be negotiated with international partners first.
Image Source: Wikimedia

Filed Under: Business & Financials

Philip Morris Wants to Help You Quit Smoking

January 6, 2018 By Dean Lamori Leave a Comment

Marlboro cigarette packsApparently, Philip Morris’s New Year’s resolution is to help you quit smoking and maybe, why not, convince you to switch to electronic cigarettes instead.

The largest publicly traded tobacco company announced Thursday that it plans to put on hold cigarette sales in the U.K. soon. However, that will be easier said than done since the company expects huge customer backlash.

The firm also plans to launch a new website with helpful tips for quitting smoking and detailed info on the alternatives.

Philip Morris also pledged to invests millions of dollars in the U.K. government’s efforts to help people quit. The U.K. has the highest smoking rates in Europe. The company also seeks regulatory approval for inserting info on smoke cessation and e-cigarettes into cigarette packs.

We believe we have an important role to play in helping the U.K. become smoke-free,

the company wrote in a formal letter to the U.K. Prime Minister Theresa May.

Critics Are Unimpressed

However, anti Big Tobacco’s advocates were unimpressed. A spokesperson for the American Lung Association compared Philip Morris with a “convicted racketeer” that promises once more to change his ways. Smoke cessation advocates warned that Philip Morris is still doing tons of cash out of the tobacco business, which include cigars and electronic cigarettes.

Philip Morris claims that e-cigs can help people quit smoking, while critics claim that the electronic devices get teens hooked on tobacco and represents a gateway to smoking. What’s more, tobacco critics say that there is no scientific evidence to back the claims that e-cigarettes can help smokers quit.

Still, Philip Morris has obtained regulatory approval for a new tech dubbed iQOS in two dozen states. The tech reportedly reduces the number of poisonous byproducts of cigarettes smoke. The company now seeks regulatory approval for the U.S.A.
Image Source: Wikimedia

Filed Under: Business & Financials

Drug Company Sued for Bribing Doctors to Prescribe Potent Opioid

December 24, 2017 By Dean Lamori Leave a Comment

Drugs and moneyThe state of North Carolina has just sued a famous drug maker for conducting a bribery scheme that enticed doctors to prescribe an extremely powerful opioid to their patients.

The drug, Subsys, is usually prescribed only to cancer patients as it is 50 times more potent than heroin and twice as much than morphine.

Attorney General Josh Stein filed a lawsuit against Insys Therapeutics over the illegal marketing campaign that has likely gotten thousands of people hooked on the mouth spray. Subsys is recommended only to cancer patients since the ingredient fentanyl can alleviate extreme pain.

According to the lawsuit, Insys representatives bribed the doctors who gave the drug to noncancer patients. The company also held conferences across North Carolina to convince other physicians to join in the scheme.

Insys’ Actions Have Just Fueled the Opioid Epidemic

The lawsuit wants the drug company to give up all the profits derived from the scheme and to pay penalties. Insys is also accused of misleading insurers into covering the drug for noncancer patients.

Stein who also leads a major investigation into similar schemes nationwide deemed Insys’ actions ‘unacceptable’ especially at a time when the nation is  struggling with an opioid epidemic. In North Carolina, four people die from an unintended opioid overdose every day.

Stein underlined that these kinds of powerful pain killers have made millions of Americans addicted to them. He added that the drug company unlawfully promoted the drugs to make more money.

In October, the company’s billionaire founder, John Kapoor, was indicted in Massachusetts for offering kickbacks to physicians to prescribe the drug to noncancer patients just to boost sales. Kapoor is listed as one of the richest billionaires in Arizona. His lawyer said he would fight all charges.
Image Source: Flickr

Filed Under: Business & Financials

Calif. Health Dept: Excess Smartphone Use Can Cause Brain Cancer

December 17, 2017 By Dean Lamori Leave a Comment

Smartphone user sitting on sidewalkThe California Department of Public Health’s recently released guidelines reveals that prolonged and frequent smartphone use could boost the risk of brain cancer, impaired sperm production, and issues with learning and sleeping.

Even though authorities admitted that the research linking cell phone use to these conditions is not definitive, there are legit concerns and people should be warned. The guidelines, which had been in the making for three years, were released after the department lost a lawsuit urging it to publish them, in March.

UC Berkeley researcher Joel Moskowitz who sued the department has authored numerous papers on wireless radiation and the health risks of cell phone use.

The department cautioned that the risk could be higher in teens and kids, and dismissed claims that it has released the document because of Moskowitz’s lawsuit.

Smartphone Use Seems to Pose Hidden Health Risks

Smartphone users are advised to not keep their phones in their pockets or close to their beds at night because of radiation.

In a recent interview, Moskowitz criticized the department for taking so long to publicize the risks.

I think it means they’re very concerned, and they’re just being conservative in their language,

the professor said.

It is worth noting that the release of the guidelines means that health professionals working at CDPH were able to convince their superiors about the health risks.

Many researchers and public health advocates believe the risks are not imagined. Several California municipalities have their own rules that require stores and other outlets to display phone health warnings despite wireless industry pressure.

The wireless industry claims that cell phone use is not linked to any health risks. It underlined that the FCC considers the RF exposure to which an average American phone user gets exposed is within ‘safe’ limits.
Image Source: Pexels

Filed Under: Business & Financials

Kushner Plans to Revamp 666 Fifth Avenue Skyscraper, Partner Isn’t Supportive

November 2, 2017 By Tom Hager Leave a Comment

jared kushner

Jared Kushner allotted a budget of $7.5 billion to change a Manhattan tower completely. Ivanka Trump’s husband eyed the skyscraper on 666 Fifth Avenue for this transformation. The project will begin with the demolition of the building. Kushner will raise in its place a high-end block of residences with access to in building retail stores. However, Kushner’s business partner doubts the success of such a property revamp.

Kushner Wants to Double the Height of the 666 Fifth Avenue Property and Turn It into a High-End Hotel

Steven Roth is chairman of company Vornado Realty Trust. He shares with Jared Kushner rights over the Fifth Avenue building.

On Tuesday, Roth claimed that Kushner’s rebranding plans are unlikely to succeed. He believes the mission relies too much on major changes. The bigger the risks are taken in this business, the more vulnerable the feasibility becomes.

“I think that something that requires heavy development on the site would be poorly received by shareholders.”

Roth’s doubts might turn into serious hurdles with the power to impair Kushner’s plan. Roth owns 49.5% of the offices and will have a saying in the restoration of the real estate. In the meantime, Kushner is willing to spend $7.5 billion in doubling the height of the building and turning it into a top-notch hotel.

Donald Trump’s son-in-law believes this transformation would help the property escape its debt of $1.2 billion. The building has been losing valuable customers for years.

Kushner and His Financial Moves Are Under Mueller’s Radar

Roth’s view on this business is not without foundation. The businessman has been trying to keep the project alive, while Kushner was in talks with investors. On the other hand, interested parties are hesitant in supporting Kushner as special counsel Robert S. Mueller III is reviewing all his financial moves.

Mueller is interested more in uncovering the connections Kushner grew with investors in China and Qatar. Businesspersons from these countries are usually under the influence of their governments. On top of that, Kushner admitted to meeting with a Russian banker only weeks before Trump’s win of the presidential seat.

In the meantime, Roth is considering plans to revive the 66 Fifth Avenue skyscraper to its former glory. To him, it would be more feasible to decide on small changes in order to reach a better return on investment.

Image source: 1

Filed Under: Business & Financials

Elon Musk Shares Progress He Made with Boring Company on Twitter

October 30, 2017 By John Cooper Leave a Comment

elon musk

Elon Musk is a visionary with various interests. He first changed the way people make payments online with PayPal. Afterwards, he wanted to offer space exploration to people, and he founded SpaceX. When he understood how much good electric, self-driving vehicles can do to the world, he created Tesla. His latest mission is to curb traffic congestion that freezes all metropolises. For this problem, he no longer searched the skies for a solution, but he considered that a Boring Company is an ideal fix.

Musk’s Boring Company Is Working on an Underground Alternative to Interstate 405

Picture of The Boring Company LA tunnel taken yesterday pic.twitter.com/TfdVKyXFsJ

— Elon Musk (@elonmusk) October 28, 2017

On Saturday, Elon Musk decided to share with his Twitter community the first evidence that his boring plans are taking shape. Instead of words, he chose a one-day-old picture of the Los Angeles tunnel that his company is working on.

His post revealed the fact that the company started its activity with one of the most congested highways in the United States. This is about Interstate 405. The first underground tunnel will start from Los Angeles International Airport and will follow the highway all the way to U.S. Route 101.

Elon Musk announced that the corridor measures so far 500 feet. However, it will take at least one year to reach Route 101. Furthermore, Tesla CEO explained that his subterranean corridor is going to work differently than subways.

Los Angeles Might Open Its First Underground Tunnel in 2019

In fact, both pedestrians and vehicles will be able to take advantage of this underground shortcuts. All passengers and machines will fit on pods which are powered by electric skates.

The main artery will encourage a speed of 150 mph. People will enter and exit this principal corridor by opting for a side tunnel. On top of that, there will be an inclination positioned after each mile that will streamline the traffic.

The Boring Company revealed its plans to solve the traffic problem back in April during a TED2017 conference in Vancouver. Los Angeles mayor Eric Garcetti contacted Musk after less than a month for collaboration. It turns out that the second most populous city in the United States will open its first underground highway in 2019.

Image source: 1

Filed Under: Business & Financials

Starbucks Takes Halloween Seriously with New Zombie Frappuccino

October 28, 2017 By Kurt Cottrell Leave a Comment

starbucks mugs

Starbucks is one coffee shop chain that likes to support annual holidays. Behind these efforts hide extremely appealing special beverages. What makes them a real treat is their limited time nature. Once the magic of the holidays spoils, the special recipe will follow in its footsteps. For this Halloween, Starbucks introduced Zombie Frappuccino which will disappear into thin air when you least expect.

The Zombie Frappuccino Nailed Halloween Themed Colors

Sharing is scaring. ? #ZombieFrappuccino
(U.S. & Canada, while supplies last) pic.twitter.com/1n9nJEBEpb

— Starbucks Coffee (@Starbucks) October 26, 2017

The new drink seems ambitious enough to compete with the famed Unicorn Frappuccino. The large cup of coffee sparked a frenzy on Instagram for its looks. Its aesthetics created a sick combination between pinkish foam that looks like a living brain and a ghostlike green for the rest of the content.

On top of that, the edge of the cup is embossed with bloodlike trails that resemble a vampire’s after dinner look. However, the smudge is nothing but delicious syrup with a lot of sugar.

As for the taste of it, Starbucks resorted to a combination of apple syrup and caramel to set the right tone for the spooky holiday. It seems to be a recipe that only particular clients with a fondness for apples would love. Some customers call it another sugar bomb on social media.

On the other hand, customers have to pay attention to the nutrition information for this one. The smallest size comes with 190 calories, the middle version has around 290 calories while the Venti iced cup has 390 calories.

The Special Offer Will Disappear on Tuesday

However, this Halloween treat can also be turned from a nemesis to lactose intolerant coffee consumers’ best friend. Baristas claim that they can make a dairy-free Halloween-themed drink if customers ask them so. The best part about it is that they don’t have a lot of ingredients to change.

In fact, the Zombie Frappuccino hates dairy products except for the milk that keeps the blend together. Nonetheless, Starbucks baristas usually have milk made of soy, almond or coconut at hand. After just one swap, vegan customers can partake in this celebration as well.

The special drink this time will be available for less than a week. Sales started on Thursday, and the zombie will vanish at midnight on Tuesday.

Image source: 1

Filed Under: Business & Financials

New York to Treat eCigarettes Same Way as Regular Cigarettes in Public Indoor Areas

October 26, 2017 By Tom Hager Leave a Comment

ecigarette

New York will no longer tolerate vapers in public indoor areas. The eCigarette won’t be welcome anymore in most workplaces, bars, restaurants, and other buildings open to the public.

Democratic Gov. Andrew Cuomo signed a new bill on Monday that introduces eCigarettes to the indoor smoking ban. The new rules will support the already instated prohibition of vaping in areas mentioned in the smoking ban. Therefore, the new healthcare direction will enjoy consistency.

The New Ban on Vaping within Public Indoor Areas Will Become Effective in One Month

“These products are marketed as a healthier alternative to cigarettes, but the reality is they also carry long-term risks to the health of users and those around them.”

Cuomo is of the opinion that this new interdiction was a necessary step to ensure a healthy environment within New York for all citizens. There are a few other states that have already taken similar measures, such as New Jersey, Connecticut, and California.

eCigarettes represent electronic devices loaded with liquid that contains nicotine. By drawing in the vapors it releases, people can mimic the act of smoking tobacco. Companies advertise these products as healthier alternatives to regular cigarettes.

The new rules of the New York are going to enter into effect in 30 days. Cuomo already updated legislation earlier this year with literature that forbids the use of electronic cigarettes in private and public schools. The new appendix adds all the other public indoor areas to the list.

The Topic Continues to Be Controversial

The American Lung Association and the American Cancer Society endorsed the new ban. Jeff Seyler from the American Lung Association claimed that the new law is going to incorporate in public culture the idea that such vaping devices are not safe. Therefore, young people will enjoy protection from nicotine addiction.

On the other hand, the upcoming changes rallied criticism already. The co-owner of an eCigarette company and founder of the Tobacco Vapor Electronic Cigarette Association, Thomas Kikas, has a different view on this modern habit. Kikas claims that he spoke with physicians that sided with benefits of vaping. eCigarettes are a better alternative to regular cigarettes, and they can even help people to break this bad habit.

Image source: 1

Filed Under: Business & Financials

Amazon Warehouse Delivered Couple’s Requested Storage Containers with 65 Pounds of Weed

October 25, 2017 By Kurt Cottrell Leave a Comment

amazon box

Amazon is willing to go the extra mile in order to obtain high customer satisfaction rates. Yet how can one cheer up a couple who has only ordered some empty second-hand storage containers? Amazon’s answer was a bonus of 65 pounds of weed.

While Amazon claims that it was aware of the content of this delivery, the Florida household was struck with awe. They immediately informed the police that they received more than they bargained for.

Drug Traffickers Might Have Used Same Storage Containers for Illegal Activities

The story starts with a woman and her fiancé who both remained anonymous for identity protection. They took advantage of an Amazon Warehouse Deal and ordered 27-gallon containers. The ad claimed that this is an offer they can’t refuse.

However, when the order reached their home, they became suspicious. The packages weighed 93.5 pounds when the storage containers were supposed to be empty. The moment they opened the lids, the couple understood that they were right. A powerful smell of marijuana informed them that they received unwanted dried hallucinogenic plants.

The couple contacted the police immediately. However, it was not easy to explain to the officers what happened in reality. Authorities had enough reasons to suspect them of illegal activities at a first glimpse.

Their reason to seek justice was influenced by a grain of fear as well. They believed that drug traffickers used the goods of the online retailer. However, something went wrong, and the illegal merchandise reaches their door.

If the true owner of the products figures out where the material ended up, they might come to reclaim it. Therefore, the couple decided to abandon their Florida residency for several nights.

Amazon Didn’t Offer Clear Justification

The accident happened one month ago, yet details about it surfaced only recently. Amazon was reluctant to offer a thorough explanation of what happened.

“Our customer service team worked directly with the customer to address concerns and will work with law enforcement to investigate the case, as needed.”

This silence can only underline a concerning supposition that the retail giant cannot be in control of all activities. The 65 pounds of pot could have come from a third party. However, such illegal activities have still crossed paths with Amazon services.

Image source: 1

Filed Under: Business & Financials

IBM’s Q3 Report Encourages Greater Sales Expectations for the First Time in Years

October 19, 2017 By Kurt Cottrell Leave a Comment

ibm offices

International Business Machines Corporation or IBM for short has been dealing with disappointing numbers for the last five years. However, the latest fiscal quarter report proved investors that the organization still holds a lot of value to them. Therefore, the company announced greater sales expectations for the last quarter of the year.

As of lately, IBM redirected all its efforts towards modern services such as cloud and data analytics. However, the expected boost in sales is slated to come from one of its legacy hardware projects.

IBM Had the Luxury to Set Higher Sales Expectations for the Fourth Quarter of the Year

The fourth-quarter revenue is expected to extend to somewhere between $22 billion to $22.1 billion. This projection marks a 1.5% boost by comparison to same period last year’s income. The target is also defying analysts’ average estimates of $21.8 million.

The report on third-quarter performance improved confidence in the last three months of the year. Sales expectations will be topped thanks to IBM’s new mainframe server. On Tuesday, Chief Financial Officer Martin Schroeter claimed that the last quarter of the year is going to receive waves of revenue boost that can come to an addition of $2.9 billion.

If IBM manages to deliver this target revenue, the company will end a 22-quarter streak of low sales. Chief Executive Officer Ginny Rometty has been working towards growth since the beginning. The performance of this year’s third quarter is the proof investors have been waiting for to confirm that the company has the capacity to recover from its five-year decline.

On the other hand, analysts know that the mainframe business does not provide long-term effects. Therefore, the latest positive numbers might signal just a temporary improvement. IBM has to develop other projects such as cloud software and services to be able to sustain constant growth.

The third quarter recorded $19.5 billion which is only 1% below the performance attained one year ago. Nonetheless, this number beat analysts’ estimations of $18.6 billion. Most of the sales came from hardware department, yet the software products didn’t underperform either. Cognitive solutions which include innovative products such as Watson analytics grew 3.9%. In the end, late trading increased shares by 5.3% to $154.33.

Image source: 1

Filed Under: Business & Financials

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