March 2007 Edition
DIET
Low-glycemic foods and beverages have carved out their own niche in the mainstream U.S. market, with year-end sales reaching US$350-million in 2006. Sales are expected to keep growing at a compound annual growth of over 45 per cent from 2007 to 2011, with sales projected to hit $1.8-billion in 2011. Low-glycemic products target the over 20 million diabetics in the U.S. in addition to consumers concerned about boosting their energy level and losing weight.
CARS
Rolling off the production lines in India this year will be a budget car for around US$2200 which will be within the reach of tens of millions of Indians who until now could only afford a motor scooter. This is alarming environmentalists who argue that the last thing India's choked roads and notoriously polluted cities need is yet more cars. The vehicle will be available in four or five-seat versions with an engine of just 30 horsepower.
LOSS
It is estimated that over US$80-billion was spent in the U.S. on gift cards last year, an increase of 20 per cent over 2005. However, over $8-billion will go unredeemed, a windfall to retailers, due to expiration, or loss of cards. This is more than twice the amount of loss to credit or debit card loss in the U.S. in 2006.
FRUIT
A tangerine was introduced into the U.K last Christmas about the size of a cherry tomato. It is one of the smallest and oldest varieties of tangerine in existence. While it has been grown in China for over 1300 years, it is virtually unknown in Europe. It was so popular among the upper classes in China that most of the production was reserved for the Chinese royal family and the fruit was dubbed The Emperor's Delicacy.
SAFETY
The National Park Service has agreed to experiment with using wristwatch-size radio transmitters being provided by a non-profit search and rescue group. The equipment will be tried out on Alaska's Mount McKinley. Although some argue transmitters can provide a false sense of security, others believe their use will save valuable time and money in wilderness searches.
CHOCOLATE
A French chocolatier is attempting to help his country's struggling Bordeaux winemakers by using their surplus stocks to make chocolate wine. Vino Cacao is technically a fortified wine made by combining dark chocolate and red or white wine with a splash of extra alcohol, sugar and cocoa butter. It is hoped to sell 40,000 bottles in the first year.
RICH
A three-day "camp" for the offspring of families that have a fortune of over US$50-million or more was held last month. The agenda, for rich kids between 25 and 35 included sessions on the psychology of money, building an investment portfolio and issues surrounding inheritance.
ALLERGIES
A leading industry group has given scientists the go-ahead to build genetically engineered peanuts that could be safer, more nutritious and easier to grow than conventional ones. The work could also lead to peanuts that yield more oil for biofuel production, need less rainfall and grow more efficiently, with built-in herbicide and pest resistance, traits that have already been engineered into major crops such as cotton, corn, soybeans and canola.
MORSE
Amateur radio enthusiasts are fighting to save Morse Code. The language of dots and dashes has always been popular with the amateur radio community who have provided a communications lifeline in emergencies and disasters. But now the U.S. government will no longer require Morse Code proficiency as a condition for an amateur licence. There are about 660,000 licensed "ham" radio operators in the U.S.
PHONES
Four countries in Europe have more cellphones than people: Luxembourg (120 phones per 100 people), Sweden (108), Italy (107) and the Czech Republic (103).
PAPER
A major Canadian producer of paper is tapping into a heightened concern over nasty workplace germs with the introduction of what it claims is North America's first antimicrobial office paper. The paper is treated with a patented, silver-based compound that kills most bacteria that comes into contact with it. Silver has been shown to be highly effective in inhibiting the growth of micro-organisms
INNOVATION
A British company has introduced a traditional AA battery that recharges itself while plugged into a personal computer USB port. Until now, rechargeable batteries have never been all that portable because they have to travel with a charger.
CHARITY
Americans donate more than twice as much as Canadians in money and time to charitable causes. They give US$900 per person, Canadians give $400. Voluntary donations in the U.S. now exceed $250-billion a year. Seventy-five per cent of these donations are made by families and 25 per cent by corporations, foundations and bequests.
PORK
Producers of pork in the U.S. are preparing for fluctuating prices in light of increased demand for corn, a staple in hog feed, to make ethanol fuel. Nearly 2.15 million bushels of corn will be used to produce ethanol during the 2006-07 crop year, a half million bushel increase over the previous year. The recent increase in corn prices has increased hog production by roughly US$20 for each 250-pound hog.
FLAVOURS
The annual Flavour Forecast is meant to highlight combinations that will influence foods prepared at restaurants as well as at home. In 2007, the top five flavour pairings are: clove and green apple; thyme and tangerine; telicherry black pepper and berries; sea salt and smoked tea and lavender and honey.
RIDES
According to a recent survey, rides are the No. 1 reason that Americans visit approximately 600 U.S. amusement parks. The most popular types of rides are: Roller coaster (46%), Bumper cars (13%); Log flume (10%) Ferris Wheel (9%) and Carousel (7%). The most popular foods consumed at amusement parks are: Funnel cake (28%); Ice cream (17%); Pizza (14%) Hot dogs (13%) and Cotton Candy (12%).
COAL
The great coal rush underway in China is on a scale not seen anywhere since the 19th century. The Chinese plan to build no fewer than 500 new coal-fired power stations, adding to some 2,000 of them, most of them unmodernised, that spew smoke, carbon dioxide and sulphur dioxide into the atmosphere. The consequences have been detected half a world away in toxic clouds so big they can be seen from space drifting across the Pacific to California laden with microscopic particles of chemicals that cause cancer and lung and heart diseases.
TOURISM
Every year, according to the World Tourism Organization, some 700-million people leave for foreign lands. They spend more than US$575-billion, making tourism the world's leading item of foreign trade.
PROGRESS
The last ceremonial bucket of cement was recently poured as India completed construction of the massive and controversial US$7.7-billion Sarder Sarover dam in Gujarat State which was begun in 1987. The dam is designed as a centrepiece of a series of dams, reservoirs and canals that will utilize the Narmada, India's fifth-largest river, to irrigate crops, provide power and drinking water, and control floods.
METERS
For most, electricity meters are mundane devices. In the eyes of utility companies they are bursting with untapped potential. Newer designs will transmit instant readings back to the power company, doing away with expensive visits to each customer. Also, they could allow utilities to charge different rates at different times of the day. Enel, the Italian utility company has provided smart meters to nearly all of its 30-million customers.
APPLIANCES
Driven by such factors as an upsurge in home remodelling and renewed interest in home coffee and tea brewing, small kitchen appliances have enjoyed steady growth. This market is expected to reach US$2.7-billion annually by 2010. The market relies mainly on low-priced imports. Electromechanical appliances, among them blenders, mixers, food processors and juice extractors accounted for almost two-thirds of the value of small kitchen appliance imports in 2005.
CHIPS
A British electronics company is to spend US$100-million to build the first factory that will make semiconductors out of plastic instead of silicon for use in displays in electronic reading devices. The devices allow users to download newspapers or books and read them in a form closer to paper than any other electronic product.
VEHICLES
Honda is expecting to sell hydrogen fuel-cell cars to the general public by 2018. Fuel-cell cars produce electricity through a chemical reaction between hydrogen and oxygen. Since the fuel-cells leave only harmless water vapour as a byproduct, they are considered a cleaner alternative to internal combustion than using fossil fuels. Finding an effective method of storing the hydrogen is one of the current challenges in fuel-cell design.
JETS
Deliveries of business jets hit a record last year, spurred by a surge in corporate earnings, the emergence of a new class of super-wealthy individuals and a boom in transnational takeovers. Aviation sources say that the business-jet industry recorded its first 1,000-plane year in 2006. About 14,000 business jets are in service worldwide, 1,670 of which are based in Europe.
DEALS
Global corporate mergers and buyout activity reached a value of US$4-trillion in 2006, surpassing record levels reached in 2000 just before a bear market and recession of 2001. Some financial experts predict another record year in 2007.
ACCIDENTS
A contractor's worker accidentally tripped a shutoff switch while working at an Ontario plastics plant, causing a two-week shutdown that reduced profits by $11-million.
ENERGY
A licence to build the world's largest offshore windfarm in the Thames estuary has been granted by the U.K government. Sited 12 miles off Kent and Essex, it should eventually consist of 341 turbines and occupy an area of 90 square miles and generate enough power for a third of London's homes. It is claimed that the windfarm will produce an amount of energy that, if generated by conventional means, would result in 1.9-million tonnes of carbon dioxide emissions every year.
SANDWICHES
Americans' fondness for sandwiches resulted in a market worth more than US$121-billion last year. It is predicted that the market for prepared sandwiches will keep growing exponentially, attributable in part to the popularity of sandwich chains such as Quizno's and Subway.
Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.
Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp
Posts
