June 2013 Edition
BOOKS
The book industry has felt more pain than pleasure in the past few years, largely thanks to technology. But in only three years, things have changed for electronic books. American publishers generated US$2.1-billion in revenue from them in 2012, up more than 3,200 per cent since 2008. In theory e-books offer better margins because they are cheaper to produce but publishers worry that customers will soon expect to pay less for all books which will impact profits. However, if piracy hits publishing as it did music, profits could evaporate anyway.
FISH
The international organization of fishing countries has decided to follow scientific recommendations and maintain strict quotas on the fishing of endangered Atlantic bluefin tuna resisting the call for a major increase in quotas. The quota will rise from 12,900 tonnes a year to 13,500, within the limits recommended by scientists. Lax quotas resulted in stocks of bluefin falling by 60 per cent from 1997 to 2007.
LIGHT
A group of University of Toronto graduates claim to have built the most energy-efficient light bulb in the world. At about 200 per cent more efficiency than the current wave of energy-saving LED technology, the Nanolight doesn't even look like a regular bulb.The 10-or 12-watt bulbs which cost C$30 and $40 respectively, pump out the equivalent of 75 or 100 watts, and pay for themselves over their lifespan, about 20 years at three hours per day. The first bulbs will be shipped by September. It is not a bad time to revolutionize the LED business which is estimated to be worth $1-billion by 2014.
COMPUTERS
The number of personal computers shipped in the first three months of this year decreased by almost 14 per cent, the largest drop since worldwide sales began to be tracked by International Data Corp. in 1984. The drop highlights a generational shift among users who have turned to the convenience and portability of tablets and smartphones for most of their computing needs.
BUILDING
China is building a high eco-city where no one will need to drive. Outside Chengdu in central China, a 78-million square foot site has been allocated for an unconventional construction project: It will be a city built from scratch for 80,000 people, none of whom will need a car to get around.The ambitious urban centre is designed to limit its residents environmental impact by producing clean energy, reducing waste and promoting public transportation over individual car use. The project expects to reduce energy use by 48 per cent, water use by 58 per cent and produce 89 per cent less waste compared to a conventional development.
EUROPE
Households in Europe's fragile southern countries have far higher paper wealth than in Germany. A report compiled through a survey of over 60,000 households across the euro zone between 2009 and 2010 shows a dichotomy between cash strapped governments and wealth citizens. Households in Cyprus, whose government recently agreed to a 10-billion euro (US$13-billion) rescue from the European Union and the IMF, are the second wealthiest in the euro zone with an average net wealth of 670,000 euros, trailing only Luxembourg whose households had accumulated net wealth of more than 700,000 euros. German households had just under 200,000 euros in net wealth.
PORTS
Until recently, Duqm was a dusty fishing village and little else. Home to Bedouin tribes it lies 450km south of Muscat, Oman's capital. But in the next decade it is to be turned into a vast port and international business hub. A dry dock, the second biggest in the Middle East, has already been built at a cost of US$1.5-billion. Its quays stretch for 4km and a special economic zone is to be ringed with a petro chemical factory, a refinery, an airport, beach front hotels, and housing for more than 100,000 people. The project is to use this export hub to make Oman's economy less reliant on dwindling reserves of oil.
RIVERS
More than half the rivers previously thought to have existed in China appear to be missing, according to 80,000 surveyors who compiled the first national water census. Only 22,909 rivers were located, compared with the more than 50,000 in the 1990s. Officials are blaming the apparent loss on climate change, arguing it has caused waterways to vanish and on mistakes by earlier cartographers. Environmental experts though say the disappearance of the rivers is real and a result of headlong, ill-conceived development where projects are often imposed without public consultation.
PAY
Australia, Norway and Canada lead the world with the highest salaries in the oil and natural gas industry, according to a new survey. Average annual salaries for locally employed professionals in the industry are highest in Australia at the equivalent of US$163,600, while Norwegians earned $152,600. Average salaries in the U.S. were $121,400 ranking below Canada, New Zealand and the Netherlands. The average global annual salary was $87,300, an 8.5 per cent increase from the previous year.Local workers in the Sudan earned the least at $31,100.
LAND
Between 2001 and 2011, corporations bought or leased an estimated 227-million hectares of property around the world, a land grab that's about equal to Quebec and Alberta combined. The top countries where land was purchased were: Indonesia, Malaysia and India for agriculture and forestry and Brazil and the Philippines for agriculture and resources extraction. An Alberta based corporation purchased 2,500 square kilometres of forestry land in Australia for C$412-million in 2011 and a Toronto company bought $28.7-million of agricultural landholdings in Uruguay.
CASH
Moody's Investor Service estimates that at the end of 2012 non-financial companies in America had amassed a record cash pile of US$1.45-trillion, much of it because of the swelling coffers at tech companies. Apple had by far the most cash , with $137-billion in hand which is facing investor pressure to return more of its money mountain to shareholders. The next cash-rich companies were Microsoft, Google, Pfizer and Cisco Systems.
E-COMMERCE
As China is set to become the world's biggest economy, it's e-commerce market is overtaking America's. One giant company dominates the market: Alibaba, by some measures already the world's largest e-commerce company. Last year, two of Alibaba's portals together handled US$170-billion in sales, more than eBay and Amazon combined. Alibaba is on track to become the world's first e-commerce firm to handle $1-trillion a year in sales. Alibaba's sites account for over 60 per cent of parcels delivered in China. The company is expected to go public shortly and estimates for the initial public offering range from $55-billion to $120-billion.
TRENDS
In 1980, more than half French adults were consuming wine on a near-daily basis. Today that figure has fallen to 17 per cent. Meanwhile, the proportion of French who never drink wine has doubled to 38 per cent.
BEES
The mysterious malady that has been killing honey bees for several years appears to have expanded drastically last year. U.S. commercial beekeepers say it has wiped out 40- to 50-per cent of the hives needed to pollinate many of the nation's fruits and vegetables. A conclusive explanation has so far eluded scientists studying the ailment since it surfaced in 2005. A quarter of the American diet, from apples to cherries, to watermelons to onions depends on pollination by honeybees. Fewer bees mean smaller harvests and higher food prices.
NEWS
Canadians are increasingly choosing pixels over paper and ink when it comes to getting their news. A new survey found that while fewer people are reading traditional newspapers, they are still turning to established publications when looking for their news online. The Globe and Mail leads all publications in terms of national readership, with a national audience of 3.5-million in print and online. Online readership is 1.7-million readers weekly and is steadily gaining on print readership of 2.5-million. Numbers add up to more than 3.5-million because many readers consume both print and online versions.
E-CIGARETTES
Electronic cigarettes are now posing a serious threat to the large tobacco companies. In 2012, sales of e-cigarettes in America were between $300- and $500-million. This is paltry compared with the $80-billion-plus market for conventional cigarettes in the country. But e-cigarette sales doubled last year and are expected to double again in 2013 and it is believed that sales of e-cigarettes could overtake sales of normal cigarettes within a decade. E-cigarettes work by turning nicotine-infused liquid into vapour, which is then inhaled. A user is said to be "vaping," not smoking. Last year, one large U.S. tobacco company bought an e-cigarette maker for $135-million.
COUPONS
Ninety-five per cent of Americans use coupons when shopping and 73 per cent say they use them at least a couple of times a month. While 78 per cent of respondents named the Sunday paper as the source for their coupons, 61 per cent also use online sites for coupons and promotion codes. Age is a factor with 85 per cent of those 45 or older clipping coupons from the Sunday paper. When shopping 67 per cent of respondents say they check their smart phones to see if there is a better deal elsewhere.
TRAVEL
The UN World Tourism Organization reports that the Chinese have now become the single biggest source of global tourism after spending US$102-billion on travelling abroad in 2012. Higher incomes, looser travel restrictions and a strengthening economy are behind the surge which is 45 per cent higher than the year before and puts China well above the next two highest spending countries, Germany and the U.S. The Russian Federation also saw spending rise by 32 per cent to $43-billion.
APPLIANCES
The real estate boom is being credited with the boom in the sales of small appliances in Canada. Sales of products such as blenders, mixers, deep fryers and coffee makers grew to C$122-million in 2012, from $22-million in 2009. In the same period, sales of consumer electronics, excluding smartphones and tablets were down 17 per cent. Sales of traditional drip coffee makers dropped to $52-million from $59-million in 2009.
FISH
Global consumption of fish and seafood per person is rising steeply, but research also shows that much of what gets sold turns out to be not as described on the packaging. Cheap fish is being substituted for expensive fish and new varieties, never being consumed are being detected in fish dishes. Researchers believe there is large-scale deception going on. For example, scientists found that seven per cent of cod and haddock, the staples of British fish and chips are actually cheaper fish substituted to save costs.
SPENDING
The City of Waterloo, Ont, plans to spend as much as C$90,000 studying whether to erect a wind turbine despite a report saying the city wasn't windy enough. Ottawa is giving another $63,000 to keep studying the project.
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