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Markets and Commodities

October 17, 2024

Australian Dollar: $0.6670 USD (down $0.0030 USD)

Iron Ore Nov Spot Price (SGX): $104.55 USD (down $1.85 USD)

Oil Price (WTI): $70.52 USD (down $0.39 USD)

Gold Price: $2,673.95 USD (up $12.93 USD)

Copper Price (CME): $4.3665 USD (up 0.0270 USD)

Bitcoin: $67,856.42 USD (up 1.50% in last 24 hours)

Dow Jones: 43,077.70 at 4.20pm NY time (up 337.28 points on yesterday's close)

 

 

 

Markets and Commodities

October 10, 2024

Australian Dollar: $0.6710 USD (down $0.0040 USD)

Iron Ore Nov Spot Price (SGX): $105.15 USD (unchanged - public holiday)

Oil Price (WTI): $73.36 USD (down $0.55 USD)

Gold Price: $2,607.14 USD (down $15.75 USD)

Copper Price (CME): $4.4080 USD (down 0.0605 USD)

Bitcoin: $60,908.07 USD (down 2.11% in last 24 hours)

Dow Jones: 42,512.00 at 4.20pm NY time (up 431.63 points on yesterday's close)

 

 

 

 

Market, Commodities and Financial News Snapshot via Media Man

October 7, 2024

ASX futures up 26 points or 0.3% to 8215 near 6am AEST

AUD +0.1% to US68.01¢

Bitcoin +1.3% to $US62,692

US 10-year yield +13bp to 3.97%

Dow +0.8% S&P +0.9% Nasdaq +1.2%

FTSE flat DAX +0.6% CAC +0.9%

Gold -0.1% to $US2653.60 an ounce

Brent oil +0.6% to $US78.05 a barrel

Iron ore -0.3% to $US108.70 a tonne

 

 

Markets and Commodities

October 7, 2024

Australian Dollar: $0.6786 USD (down $.0054 USD)

Iron Ore Nov Spot Price (SGX): $108.70 USD (down $0.05 USD)

Oil Price (WTI): $74.38 USD (up $0.67 USD)

Gold Price: $2,653.25 USD (down $2.79 USD)

Copper Price (CME): $4.5675 USD (up 0.0240 USD)

Bitcoin: $62,679.21USD (up 1.48% in last 24 hours)

Dow Jones: 42,352.75 (up 341.16 points on Thursday's close)

 

 

 

Markets and Commodities

October 4, 2024

Australian Dollar: $0.6840 USD (down $.0040 USD)

Iron Ore Nov Spot Price (SGX): $108.75 USD (down $0.20 USD)

Oil Price (WTI): $73.71 USD (up $2.70 USD)

Gold Price: $2,656.04 USD (down $2.97 USD)

Copper Price (CME): $4.5435 USD (down 0.1195 USD)

Bitcoin: $60,801.67 USD (up 0.09% in last 24 hours)

Dow Jones: 42,011.59 (down 184.93 points on yesterday's close)

Market, Commodities and Financial News

Snapshot via Media Man

October 4, 2024

ASX futures down 33 points or 0.4% to 8209 near 6am AEST

AUD -0.6% to $US68.44¢

Bitcoin +1.3% to $US60,954

Dow -0.6%

S&P -0.4%

Nasdaq -0.3%

FTSE -0.1%

DAX -0.8%

CAC -1.3%

Gold -0.1% to $US2657.32 an ounce

Brent oil +5.2% to $US77.77 a barrel

Iron ore +0.6% to $US108.75 a tonne

 

 

 

 

 

 

Hotel, Casino And Gaming News: U.S, Global

October 9, 2024

Hard Rock Casino Rockford has 2nd largest GGR

Illinois

Hard Rock Casino Rockford brought in the 2nd highest casino gambling revenue of any casino operating in Illinois. In September 2024, Hard Rock Casino Rockford brought in $13,717,722 in revenue. That makes Rockford’s casino the second largest in revenue in the state, behind the Rivers Casino Des Planes, which brought in $41.5 million in September. The total GGR for Illinois in September was $138.9 million with 1,140,023 admissions; the 2023 GGR was $132.1 million with 1,038,436 admissions.

News

Tropicana implosion paves way for A's stadium

Nevada

The Tropicana Casino and Resort, one of the last true mob buildings on the Las Vegas Strip, was reduced to rubble Wednesday morning. The implosion cleared land for the proposed $1.5 billion baseball stadium for the relocating Athletics, which is part of the city's latest rebrand into a sports hub.

News

Shift to attract millennials to casinos

Nevada

Innovations in gaming space and expanding technology in the postpandemic era continue to attract a new, younger generation to Las Vegas and its casinos, MGM Resorts International President Bill Hornbuckle said Tuesday at the Global Gaming Expo.

News

Allegiant Stadium to host Gold Cup soccer matches

Nevada

International soccer will once again kick off at Allegiant Stadium next summer. The Las Vegas Convention and Visitors Authority approved an event production agreement during its Tuesday board meeting, including matches in the CONCACAF Gold Cup tournament in June 2025.

News

Ten Vegas restaurants together grossed almost $200M in 2023

Nevada

Never underestimate the power of a seat on the Las Vegas Strip. Alexxa’s in Paris Las Vegas, which offers some of the best street-side dining on the boulevard, was the highest-grossing independent restaurant in the city in 2023, according to Restaurant Business. Alexxa’s brought in $28.8 million in food and drink sales, and about 600,000 meals served. The restaurant ranked No. 9 on the list…The 10 Vegas restaurants (all but one on the Strip) in the top 100 together racked up nearly $200 million in sales for 2023.

News

Revenue Surges 48% Year-Over-Year in September 2024

West Virginia

West Virginia’s sports betting revenue surged in September 2024, seeing a 48% increase compared to the same month last year…the state generated $7.1 million in revenue from a $46.4 million handle, marking the second-highest monthly revenue ever recorded for the state’s sportsbooks…the total handle—$46.4 million wagered—was down 7% compared to September 2023.


Casino And Gaming News

Macau

October 2024

Macau's gaming revenue jumps 15 percent

Macau's gaming revenue rose 15.5 percent year-on-year in September, exceeding analysts' forecast as casinos gear up for one of China's biggest holidays, which usually fuels travel to the gambling hub.

Gross gaming revenue reached 17.25 billion patacas (HK$16.73 billion) for the month, according to data released by the Gaming Inspection and Coordination Bureau. The result is compared to the median analyst estimate of a 14.2 percent increase and has returned to 78 percent of the pre-pandemic level seen in 2019.

The reporting was still lower than in the previous month, as September - when children go back to school and it being a peak typhoon month - is historically a weak season for Macau.

Expectations for the Golden Week holiday, which started yesterday, are high. Advanced bookings for hotel rooms are strong, with bigger gamblers making reservations earlier than usual, Citigroup analyst George Choi wrote in a note.

Affluent players remain able and willing to spend, and the trend seems to be accelerating, Choi said, citing a survey of gaming table performances.

Still, retail sales in Macau have shown signs of weakness. Lower-spending players appear to be betting less for the first time since China's reopening from Covid early last year, according to Choi. It is expected that this trend will ease as Beijing's recent announcement of a series of economic stimulus measures boosts disposable income, he added.

News

Global Gaming

Eklutna tribe clears land for anticipated casino

Alaska

A tribe near Anchorage has begun clearing land for the possibility that it will soon win federal approval to build a 50,000-square-foot facility with a tribal gaming operation. The casino would be the first of its kind outside Southeast Alaska. The Native Village of Eklutna has long pursued the idea of building the gaming hall on 8 acres of land…The parcel is in Birchwood, about 20 miles northeast of downtown Anchorage.

News

Julapun pushes for talks on casino complex plan

Thailand

Deputy Finance Minister Julapun Amornvivat is calling on all relevant state agencies to discuss the government's push to allow casinos to operate within entertainment complexes. He hopes the discussion can be concluded by the middle of the month. He said the discussion will focus on the mechanism for tax collection, as there are restrictions in the State Fiscal and Financial Disciplines Act that the government must adhere to.

News

Nevada

Sports Betting Revenue Grows in August

Nevada sports betting posted August gains in handle and revenue, total August volume surpassed $455.2 million, a boost from the $431.6 million bet during the same month last year. Nevada sports betting operators cleared $25 million behind a 5.5% August win rate…The 5.5% hold for NV sportsbooks is one of the lowest this year, though on par with the market’s average win rate of less than 6%.

News

Florida

Slot revenue rises to $54.9 million in August

Florida Gaming Control Commission has revealed that the state’s non-tribal casinos collected almost $54.9 million in net slot revenue in August from around $825.6 million in wagers. That’s a 1.5 percent year-on-year increase from the $54.1 million generated in August 2023. With 1,236 machines, Harrah’s Pompano Beach Casino, reported as the Isle Casino & Racing at Pompano Park, led with $9.8 million of the total.

News

Pete Rose dies at age 83

Pete Rose, baseball’s career hits leader and fallen idol who undermined his historic achievements and Hall of Fame dreams by gambling on the game he loved and once embodied, has died. He was 83. Stephanie Wheatley, a spokesperson for Clark County in Nevada, confirmed on behalf of the medical examiner that Rose died Monday. Wheatley said his cause and manner of death had not yet been determined. Rose is in the WWE Hall of Fame (Celebrity Wing) Rose was grabbed around the neck in a staged skit by the late, great, Andre The Giant. And yes, there are some WWE themed slot games, mainly found in Vegas, Atlantic City and Florida from what the foot soldiers tell us.

News

Australia

Star Sydney could be worth as little as $8m: Barrenjoey consultants; Star Entertainment’s Sydney casino has emerged as a laggard in the troubled company’s property portfolio with one estimate putting its valuation as low as $8m!

News

Atlantic City

Atlantic City hotels defeat latest class action over casino room rates

Major casino-hotel operators in Atlantic City including Caesars Entertainment and MGM Resorts have persuaded a U.S. judge to dismiss a proposed consumer class action accusing them and a revenue management platform of overcharging for room rentals.

U.S. District Judge Karen Williams in Camden, New Jersey, ruled, opens new tab on Tuesday that the consumers had failed to present enough evidence to let their price-fixing lawsuit move ahead.

Williams dismissed the consumers’ lawsuit with prejudice, meaning it cannot be filed again. The case was part of a wave of new lawsuits claiming the use of revenue management platforms that rely on rivals' data can be deemed price-fixing.

The judge’s ruling marked a second setback for plaintiffs claiming that major hotels schemed to artificially jack up room rates. Consumers in a related case have appealed a Nevada federal judge’s order dismissing their lawsuit against Wynn Resorts, Caesars and others.

In both cases, the plaintiffs alleged hotel owners fed sensitive internal information — such as real-time price and occupancy data — to a shared software platform that offered pricing recommendations.

The hotels and the software maker, Cendyn, which was also a defendant, have denied any wrongdoing.

Representatives from Cendyn, Caesars Entertainment, MGM Resorts and Hard Rock on Tuesday did not immediately respond to messages seeking comment.

The plaintiffs’ attorneys in the New Jersey case at law firms Lite DePalma Greenberg & Afanador; Burns Charest; and Susman Godfrey did not immediately respond to a similar request.

The consumers said in their lawsuit that the hotels used Cendyn’s “Rainmaker” software “as their shared pricing brain” that “does all the hard work for them.”

They said “while the AI-driven technology at issue may be fairly novel, the underlying conduct is not.” (Wires)

Casinos/Profile via Grok

Here's an overview of the latest updates and trends regarding casinos as of October 2024, based on the information available:

Global Expansion and New Developments:

Jamaica is re-opening the application period for an integrated casino-resort license, indicating interest in expanding its tourism and entertainment offerings through casino gaming.

Norfolk, Virginia has given final approval for a new casino project, which will likely contribute to local tourism and economy, reflecting a trend where cities are increasingly seeing casinos as economic development tools.

Japan and UAE are among the regions moving towards establishing casino facilities, aiming to attract tourists. However, these might be restricted to non-locals, a common practice to control potential social impacts of gambling within the local population.

New York continues to explore online gambling legislation, which could significantly expand the casino industry's reach in the state by legalizing online casinos.

Economic Performance:

Nevada, particularly Las Vegas, reported a slight decline in casino winnings for August 2024 compared to the previous year, suggesting possible market saturation or shifts in gambling preferences towards other forms like online betting.

Innovation and Entertainment:

Steve Cohen, the owner of the New York Mets, has proposed an $8 billion casino and entertainment complex next to Citi Field, illustrating how casinos are increasingly integrated with sports and entertainment complexes to offer multifaceted experiences.

Technological and Gaming Trends:

There's a noted trend towards tightening up on various casino offerings like comps, free play, and even slot machine payouts, possibly in response to increased competition from online gambling platforms and a need to adjust profit margins.

Online Gambling continues to grow, with platforms like Ignition Casino, Cafe Casino, and DuckyLuck Casino highlighted for their offerings in the U.S. This reflects a broader shift towards digital platforms, where convenience, a variety of games, and bonuses are key attractions.

Security and Social Responsibility:

Casinos globally are enhancing their surveillance and security measures, often referred to as "the eye in the sky," to combat cheating and fraud, ensuring a safer environment for all patrons.

There's an ongoing emphasis on responsible gambling, with various regions implementing measures and support systems for gamblers, recognizing the potential social and economic impacts of casino gambling.

Market Sentiment:

From posts on X (formerly Twitter), there's a mix of excitement about new casino developments and concerns over the tightening of casino offerings, suggesting a complex relationship between gamblers and the industry.

In summary, the casino industry in 2024 is witnessing expansion into new markets, integration with broader entertainment complexes, technological adaptation towards online platforms, and a strategic focus on security and responsible gambling. This reflects an industry evolving to meet new consumer behaviors, technological capabilities, and regulatory environments. (Grok)


Casino News/Profile via Grok

The term "casino" refers to a facility where gambling activities take place, which often integrates with other entertainment options like hotels, restaurants, and live shows, making it a central hub for leisure and gambling. Here's an overview based on current insights and historical context:

Evolution of Casinos: Originating from the Venetian Ridotto in 1638, casinos have evolved from exclusive gambling houses to multifaceted entertainment centers. Today, they are known for merging traditional gambling with modern technology, offering everything from classic table games to digital slots and live dealer sessions.

Modern Online Casinos: The digital age has ushered in online casinos, providing an accessible platform for gambling from anywhere. These platforms, like those highlighted in recent promotions on X, offer various incentives such as bonuses for new sign-ups, free spins, and the integration of cryptocurrencies for transactions, enhancing user engagement with promises like "deposit now and receive FREE BTC!" This reflects a trend towards digital currencies in gambling for increased security, anonymity, and efficiency.

Cultural Impact and Controversy: Casinos, both physical and online, are not without controversy. They're often discussed in terms of their societal impact, including issues like gambling addiction. A perspective shared on X questions the legality and morality of state-run casinos like Holland Casino in the Netherlands, pointing out the potential for addiction due to high stakes gambling, contrasting it with smaller community events like bingo nights.

Entertainment Beyond Gambling: Besides gambling, casinos are pivotal in the entertainment industry, hosting concerts, stand-up comedy, and even sports events. This diversification aims at attracting a broader audience, not just gamblers, enhancing their appeal as comprehensive entertainment hubs.

Global Presence: Casinos like Marina Bay Sands in Singapore and those along the Las Vegas Strip are not just gambling venues but architectural marvels and economic powerhouses, contributing significantly to local economies through tourism.

Technological and Thematic Innovation: Modern casinos incorporate advanced technology for surveillance and game fairness, alongside themes that range from historical to futuristic, creating immersive environments for visitors.

Community and Legal Perspectives: There's an ongoing debate about the accessibility of casinos to locals, especially in regions where gambling might be viewed as culturally or legally sensitive. This reflects in discussions on platforms like X, where the impact of allowing locals into casinos like in Vietnam is pondered, weighing tourism benefits against social costs.

In summary, "casino" in today's context represents more than just gambling; it's a convergence of technology, entertainment, and sometimes, societal debate. The integration of online platforms and cryptocurrencies is pushing the boundaries of traditional gambling, making it more inclusive yet sparking discussions on regulation, addiction, and societal impact. (Grok)

 

 

Cryptocurrency News via Media Man and FxPro

September 18. 2024

The crypto market gets a boost from stocks

Market Picture

The crypto market has gained 2.1% in the last 24 hours to reach $2.08 trillion. The rise in the stock market has brought buyers back to Bitcoin, which has positively impacted cryptocurrencies. The sentiment index is still in the fear zone, but at 45, it is already close to neutral territory. This shows that it is lagging stocks where sentiment has shifted to 'greed'.

Bitcoin surpassed $60K, accelerating sharply at the start of the US session. The price peaked at $61.3K before retreating to $60.4K at the time of writing.

Despite some pullback, bitcoin has broken above its 50-day moving average, suggesting significant upside potential. However, it isn't easy to rely on today's technical picture ahead of the Fed's interest rate decision on Wednesday evening. The next important level is likely to be around the $64K, where the late August high and the 200-day average are located.

News Background

JPMorgan sees bitcoin hash rate growth slowing as miner revenues remain at historic lows. Meanwhile, US Bitcoin miners' share of the network hash rate rose for the fifth consecutive month to 26.7%, an all-time high.

MicroStrategy will place $700 million in four-year unsecured convertible notes to acquire additional bitcoins and fund general corporate purposes.

According to Arkham, the Bhutanese government's bitcoin holdings amount to 13,036 BTC ($770 million), almost three times El Salvador's reserves. The country has the world's fourth-largest stockpile of BTCs, derived from mining by a sovereign wealth fund.

The crypto industry is no longer able to provide 'dopamine' to either developers or traders. That is why it is in crisis, said CryptoQuant CEO Ki Young Ju. According to him, the crypto industry is gradually turning into a 'gambling den'.

Developers Curve Finance and TON Foundation will create a platform for trading stablecoins on the TON blockchain. The new initiative will meet the growing demand for stablecoins and increase the liquidity and popularity of the network's Web3 ecosystem.

 

 

Markets and Commodities

September 11, 2024

Australian Dollar: $0.6650 USD (down $0.0010 USD)

Iron Ore Oct Spot Price (SGX): $91.00 USD (down $1.35 USD)

Oil Price (WTI): $66.31 USD (down $2.49 USD)

Gold Price: $2,516.51 USD (up $11.13 USD

Copper Price (CME): $4.1050 USD (down 0.0365 USD)

Bitcoin: $57,669.72 USD (down 0.38% in last 24 hours)

Dow Jones: 40,736.96 at 4.59pm NY time (down 92.63 points on yesterday's close)

 

 

Market, Commodities and Financial News

Snapshot via Media Man

September 11, 2024

ASX futures down 3 points or 0.04% to 7997 near 6am AEST

AUD -0.1% to 66.58 US cents

Bitcoin +1.4% to $US57,885

Dow -0.3%

S&P +0.4%

Nasdaq +0.8%

FTSE -0.8%

DAX -1.0%

CAC -0.2%

Gold +0.3% to $US2514.88 an ounce

Brent oil -3.2% to $US69.52 a barrel

Iron ore -0.8% to $US91.00 a tonne

 

 

 

Gaming, Hotel And Casino News: U.S

September 2024

 

New Jersey Internet gambling sets new record at $198M in revenue, but land casinos lag

Internet gambling in New Jersey had its best month ever in August, bringing in over $198 million in revenue even as most of Atlantic City’s land-based casinos continued to win less than they did before the COVID-19 pandemic. Figures released Monday by the New Jersey Division of Gaming Enforcement show that internet gambling brought in $198.4 million, the highest monthly total ever recorded in the state and an increase of nearly 28% from a year earlier. That was the good news for Atlantic City’s gambling industry.

News

BetMGM impresses in NFL Week One, Jefferies analyst says

BetMGM handily outperformed the field in New York state in the first week of NFL wagering, according to data published September 15 in a Jefferies Equity Research investor note penned by analyst James Wheatcroft. According to Wheatcroft’s analysis, BetMGM grew its handle 54 percent from last year, revenue 24 percent, and winning margins 8.2 percent. For the market overall, the handle grew by 14 percent, but revenue dropped 43 percent and margin was down 6.8 percent. FanDuel recorded a seven percent decrease in handle and 54 percent lower revenue.

News

llinois: Casino revenue shoots up 3.1% in August after a slow summer

Illinois casinos posted positive monthly revenue for the first time since the spring. The state’s 15 casinos combined for a win of $140 million in August, up 3.1% from July’s total of $135.8 million. Revenue totals do not include online casinos because iGaming is illegal in the Prairie State. Illinois is a leading earner for land-based revenue and sports betting handle (total amount bet). But, is nowhere to be found in the world of online casinos. The state’s legislators made two attempts to legalize IL online gaming this year, but both fell short.

News

F1 not moving the Vegas needle, Truist analyst says

“F1 stuck in neutral for now,” wrote Truist Securities analyst Barry Jonas, leading off a September 16 investor note on the subject of Las Vegas room rates. He deemed them “fairly stable but soft” into the fourth quarter. A Truist survey of Las Vegas hotel-room prices had shown growth in August followed by slowness throughout the fall. Jonas said these findings were congruent with MGM Resorts International’s forward-looking commentary during its second-quarter earnings call. Wrote Jonas, “While our survey is just one facet of the market and can change, we note continuing investor concerns around slowing growth amidst tough comparisons.”

News

August casino revenue $63 million

Virginia (results) - Lottery Commission - The Virginia Lottery released its report on casino gaming activity for the month of August 2024. There are three operating casinos in Virginia: HR Bristol, Rivers Casino Portsmouth, and Caesars Virginia. During August, gaming revenues from Virginia casinos totaled $63.1 million. Hard Rock Bristol $15.9 million, Rivers Casino Portsmouth $26.6 million, and Caesars Virginia $20.4 million. Virginia law assesses a graduated tax on a casino’s AGR, or wagers minus winnings, and $11.8 million in taxes were paid to the Gaming Proceeds Fund.

News

MGM getting more solar energy with rural Nevada solar farm

Nevada (Las Vegas) - A solar farm in the remote Nevada desert will double MGM International’s capacity to use solar energy. It entered a power purchase agreement with a utility-scale solar company to use its forthcoming facility in Lincoln County. The company is expected to begin using that boost in green energy in 2026. MGM uses 90 percent renewable energy for 11 of its Las Vegas resorts’ daytime needs, the company said, but the new solar farm and battery storage facility will power 100 percent of daytime needs and some of what’s needed for nighttime.

News

Three Strip casinos get new top exec

Nevada (Las Vegas) - Three casino properties on the Las Vegas Strip will soon have a new boss following the company departure of the trio’s former top executive. Ken Ostempowski will be assuming the role of senior vice president and general manager of Paris Las Vegas, Planet Hollywood and Horseshoe. Ostempowski currently holds similar roles overseeing The ROW Reno, a three-casino resort destination in Northern Nevada operated by Caesars. According to Ostempowski’s LinkedIn profile, he has held executive-level positions in multiple gaming markets, including Las Vegas, the Gulf Coast, the Midwest and Colorado.

News

Strip resort reveals rare tier-match offer

Nevada (Las Vegas) - For the first time since introducing a new player rewards program, a Las Vegas Strip casino is offering to upgrade gamblers’ loyalty cards to a comparable level from other casinos. The Venetian casino-hotel is launching a tier-match promotion that will allow customers to receive a Venetian Rewards card status that is on par with or better than what they currently have with another casino operator. The Venetian Resort Las Vegas’ tier-match event begins Oct. 1, according to a recent email, and will run through Jan. 1.

News

Boyd bets big on large sportsbooks even as mobile betting flourishes

Nevada (Las Vegas) - The largest sportsbook operated by Boyd Gaming Corp. may not be the place “where everybody knows your name.” But that sentiment is the reason the company (with its nine Las Vegas casinos) and other gaming operators continue to invest millions of dollars into expanding or modernizing large sportsbooks with massive viewing screens, comfortable seating areas and food and beverage options. Those expenditures happen even as more than 65 percent of Nevada’s $8 billion sports gaming industry come through mobile wagering accounts — bets made anywhere outside the casino. “A sportsbook is more than just a place to make wagers,” said Boyd Gaming Vice President of Race & Sports Bob Scucci. “At our properties, the sportsbook is the place where people come four or five times a week. It’s where they go to meet their friends and congregate.”

News

Opening sportsbook with Jay-Z at Ocean Casino, Fanatics CEO Michael Rubin explains Atlantic City’s appeal

Michael Rubin’s love for Atlantic City goes back to when he was about 12 years old. “The gambling age was 18 when I was a kid,” the once-small kid from Philadelphia recalled. “I remember when I was 12 years old, I went to an Atlantic City casino, to Caesars. It was 40 years ago. I won $2,500. I called my mom from a pay phone and said, ‘Mom, I got great news! I just won $2,500!’ She asked how, and I said, ‘I’m in a casino in Atlantic City,’ and she goes, ‘You’re grounded, get home.’ That’s my favorite story.”

News

A jobs boon from a casino at Manhattan’s Hudson Yards? Experts aren’t betting on it.

When casino giant Wynn showed off plans for its Hudson Yards West casino proposal last month, it enlisted progressive heavyweights to make the case that the venture would be a jobs bonanza for poor and working-class New Yorkers. The endorsements were full-throated and infused with hope and promise. Leaders from the NAACP, National Urban League and Win, New York City’s largest provider of family shelter and permanent supportive housing, were among the groups that said the proposal would bring significant career opportunities.

News

Maine’s first in-person sports betting bar opens in Portland

Maine’s first, in-person sports-betting bar is officially open. “Oddfellahs” opened on Market Street on Friday… The bar has partnered with Caesars Sportsbook, one of two sportsbooks authorized under Maine’s new law to run sports betting, the other being DraftKings. The founder of “Oddfellahs” says there’s more to the bar than just sports betting.

News

IIlinois Gaming Board renews Rivers Casino’s license

The Illinois Gaming Board on Thursday renewed Rivers Casino’s gaming license as well as Hawthorne Race Course’s master sports wagering license. Both renewals by the state agency came via unanimous 4-0 votes and are good for four years, with Rivers now licensed through August 2028 and Hawthorne through September of that year.

News

Bellagio removing trees as F1 prep begins on the Las Vegas Strip

The Las Vegas Grand Prix is around the corner and the Bellagio casino-hotel is days away from starting race preparations. On Monday, work crews will begin removing the trees in front of the Fountains of Bellagio along Las Vegas Boulevard to make room for the construction of the Bellagio Fountain Club (an F1 spectator area for VIPs). (Wires, A.I News)

 

 

Streaming Media Industry Disruptions Continue

Additional Mergers And Acquisitions Forecast

Live Sport Major Draw As Per Netflix

Compelling Storylines And Series Keeps Audience Coming Back For More As Per WWE

Combat Sports Storytelling And Talent Elevation As Per Dana Whites Contenders Series

Free Services With Ads Supported Has Taken Some Audience As Per Tubi

YouTube Cemented As Major Challenge To Netflix

Paramount's Quality And Iconic Movies Keep Them Valuable Commodity, Despite Bottom Line Loss

X Corp's X Platform One To Watch For Major Industry Disruption; WWE Speed Deal With WWE Just A Minor Preview Of What's On The Cards

 

Markets And Commodities

August 20, 2024

Australian Dollar: $0.6728 USD (up $0.0063 USD)

Iron Ore Sep Spot Price (SGX): $95.00 USD (up $2.70 USD)

Oil Price (WTI): $74.43 USD (down $2.22 USD)

Gold Price: $2,504.11 USD (down $4.07 USD)

Copper Price (CME): $4.1975 USD (up $0.0470 USD)

Bitcoin: $59,144.75 USD (down 1.09% in last 24 hours)

Dow Jones: 40,896.53 (up 236.77 points on Friday's close)

 

Markets And Commodities

August 19, 2024

Australian Dollar: $0.6665 USD (up $0.0055 USD)

Iron Ore Sep Spot Price (SGX): $92.30 USD (down $1.25 USD)

Oil Price (WTI): $76.65 USD (down $1.46 USD)

Gold Price: $2,508.18 USD (up $51.88 USD)

Copper Price (CME): $4.1505 USD (up $0.0100 USD)

Bitcoin: $59,792.97 USD (up 0.64% in last 24 hours)

Dow Jones: 440,659.76 (up 96.70 points on Thursday's close)

 

 

 

News (Australia) via Roy Morgan

Shares climb for fifth session; miners drop

August 16, 2024

(Roy Morgan Summary)

The Australian sharemarket posted another modest gain on Thursday, with the S&P/ASX 200 adding 0.2 per cent to close at 7,865.5 points. NRW Holdings rose 9.7 per cent to $3.50, Magellan Financial Group was up 7.6 per cent at $10.44. However, a fall in the iron ore price weighed on local producers of the steel input, with Fortescue down 2.9 per cent at $16.82 and Rio Tinto retreating 3.6 per cent to end the session at $108.40.

(Roy Morgan Summary)

News

Apple opens up tap-and-go but banks wary

Westpac CEO Peter King has welcomed an announcement by Apple that it will allow banks to offer payments directly from their customers' iPhones without the use of its Apple Pay platform. Apple's decision appears to have been forced upon it by a European antitrust deal in July, with Australia's banks having been involved in an ongoing stoush with Apple in a bid to force it to open up its devices to other financial services operators. King said Apple's decision could result in more competition and choice for consumers.

News

ASIC 'was warned about problems with ASX CHESS upgrade'

The Australian Securities & Investments Commission launched legal action against the ASX this week, alleging it made "misleading and deceptive" statements to investors about the status of the upgrade of the CHESS clearing and settlement system. It has been revealed that a technology vendor that was liaising with the ASX in regard to the CHESS upgrade wrote a letter to ASIC in 2021 outlining various concerns it had about the upgrade, while former Sydney Futures Exchange and ASX senior manager Phillip Galvin raised concerns over the CHESS program with the then Reserve Bank assistant governor Michele Bullock in 2021.

News

Qld govt, Rio forge deal to keep smelter viable

Rio Tinto wrote off the value of its stake in the Boyne smelter aluminium smelter in 2023, citing high energy costs. However, the resources group has committed to operating Boyne at full capacity until the end of 2040 after securing a deal with the Queensland government that is believed to include subsidised energy costs for the smelter. Premier Steven Miles says the Rio Tinto deal will help protect Queensland jobs; the Gladstone smelter directly employs more than 1,000 people and boasts annual production capacity of more than 500,000 tonnes of aluminium.

News

Virtual power plant as big as coal power station

Origin Energy has used the release of its annual results on Thursday to advise that its virtual power plant had grown to 1.385 gigawatts from 815 megawatts last year, with 1.385 gigawatts equating to the size of an average coal-fired power station. It comes a day after AGL stated that its virtual power plant had grown to 1.25GW from 1.1GW last year. Virtual power plants are 'aggregations' of customer-owned energy resources such as solar panels, home batteries and electric vehicle chargers; they can be commandeered by an energy retailer with the customer's permission during grid 'squeezes' to avert blackouts and moderate prices.

News

KPMG partner income slides 9pc to $650,000

Consulting firm KPMG has reported 2023-24 revenue of $2.2 billion, down 3.6 per cent, while average partner income was down nine per cent to $650,000; KPMG's average partner income compares to average partner income of about $814,000 at EY and between $430,000 and $516,000 at Deloitte. Like its consulting firm rivals, KPMG has been hit by the downturn in demand for advisory services from the public sector, while private sector demand is down as a result of companies cutting costs in response to higher interest rates.

News

Judge slams Victoria over class actions

NSW Chief Justice Andrew Bell has told the Association of Litigation Funders that 2020 legislation in Victoria that introduced contingency fees had "skewed" the market for class actions. He noted there had been a blanket prohibition on contingency fees prior to then, and that the new class action regime in Victoria had overridden both solicitor conduct rules and the Legal Profession Uniform Law (LUPL) of 2015. Bell claims the recent increase in the number of class actions being filed in Victoria was not because of the quality of its judges but because of the opportunity for solicitors "to take a slice of the outcome of litigation".

News

Telstra rejigs game plan

Telstra is to ask the federal government to reconsider the so-called universal service obligation, which requires it to connect Australians through a copper network at a time when the use of home phones is on the decline. The network is still used for home phones and some NBN connections, but Telstra is suggesting it could be replaced in some areas with quicker satellite connections or other technologies that make it easier to download data. Telstra's call for the universal service obligation to be changed came as it reported its latest annual results, with its net profit for the 12 months to June 30 down 13 per cent to $1.79 billion.

News

'Woefully short': Dearth of cyber security specialists leaves Australians vulnerable

A report by security firm StickmanCyber claims Australia has just 11,300 cyber security workers spread across hundreds of thousands of businesses, with StickmanCyber CEO Ajay Unni saying the number of cyber security specialists is "woefully short" of what is required to combat modern cyber security threats. StickmanCyber's report also found that just 16 per cent of cyber security workers in Australia are female, while the majority of them are migrant workers; its report comes at a time when Australia has experienced a big increase in cyber attacks on companies in recent times, with those on Optus and Medibank two of the more notable ones.

News

IV scandal: excuses are fluid

The Therapeutic Goods Administration is claiming that there is a global shortage of intravenous fluids such as saline, but health authorities in other parts of the world do not seem to be having the same problems as Australia, where hospitals are experiencing a severe shortage of IV fluid bags. People from within the pharmaceutical industry contend the IV crisis is due to the lack of a functional national procurement policy, with state governments each having contracts for the supply of saline fluid. For its part, the TGA states that the federal government is working with state and territory governments, and with private hospitals, to minimise any impact on patient care.

News

Bookies join call to ban gambling ads on jerseys

Bookmaking firms Sportsbet, Pointsbet and Entain contend that excluding wagering companies' logos on jerseys and signs at stadiums from a clampdown on gambling advertising on TV is "illogical". Sportsbet is the biggest online bookmaker and the sector's largest advertiser, and it is the first time it has publicly backed a ban on wagering logos on jerseys and signs. Their comments come as the federal government continues to come under attack for its apparent reluctance to implement a complete ban on gambling advertising, as recommended by a bipartisan inquiry led by late Labor MP Peta Murphy.

News

Casinos to get cash reprieve in NSW after carded play delay

A spokesperson for NSW Gaming Minister David Harris has confirmed that The Star Sydney and Crown Barangaroo casinos will be able to accept cash bets of up to $5,000 for another 12 months, instead being limited to $1,000 from Monday as was previously planned. The spokesman also said that Harris had agreed to extend The Star's deadline to roll out mandatory carded play across its operations until 19 October, with the extension of the deadline by a month coming as a result of a request from new Star CEO Steve McCann.

News

United States

Signed up to Disney+? Disney says you can never sue the company, even for wrongful death

An American man is suing Walt Disney Parks and Resorts over the death of his wife, with Jeffrey Piccolo claiming she died as a result of an allergic reaction to food served at an eatery in Walt Disney World Resort. Disney is seeking to have the case thrown out because Piccolo had previously signed up to a free trial of Disney+, and that in doing so he had agreed never to sue it. His lawyers have described Disney's argument as "absurd", while they also argue while he may have agreed to its term, he did not do so on behalf of his wife or her estate.

News

Live music industry on its knees and pleading for a government lifeline on insurance costs

An increasing number of Australian music festivals are being cancelled or deferred, with many citing increased insurance costs as one of the main reasons for their action. Live music venues are also being hit by higher insurance costs, with one Adelaide pub reporting an increase in its public liability insurance from $10,000 to $40,000 as a result of it offering live music. The National Cultural Policy Senate inquiry used its interim report to recommend that the federal government work with festival providers and the insurance sector to reduce insurance premiums for festivals, as well as investigating options to ensure "access to insurance is available to small and medium operators".

News

Mining And Resources

Pilbara takes $560m punt on Brazil lithium project

Lithium producer Pilbara Minerals will diversity its operations beyond Western Australia with a takeover bid for Latin Resources, which owns the Salinas project in Brazil. Pilbara Minerals is offering 0.07 of its shares for every share in Latin Resources, valuing the latter at about $560m. Pilbara Minerals CEO Dale Henderson has defended the takeover bid for Latin Resources, amid doubts among some analysts about the merits of the deal. Kaan Peker from RBC Capital Markets contends that there may be few synergies given the distance between WA and Brazil.

News

Indonesia learns a lesson from cosying up to China

Chinese investments have helped Indonesia to become the world's dominant producer of nickel, which is a key mineral in the production of electric vehicles. However, the Chinese investment in its nickel sector makes it difficult for Indonesia to access the tax credits available under the US Inflation Reduction Act; tax credits are not available to minerals produced by companies with more than 25 per cent Chinese ownership, with China viewed as a 'foreign entity of concern". Another problem that Indonesia has in regard to accessing the IRA tax credits is that it does not have a free trade agreement with the US, which is a requirement for its nickel to be IRA-compliant.

News

Inquiry leaves door ajar for WA gas exports

A Western Australian parliamentary inquiry has concluded that the state's onshore gas producers should be permitted to export their output, so long as the sector can address a looming domestic shortage, with WA facing a shortfall of up to 30 per cent of its total gas demand in the next decade. Onshore gas producers have argued that being able to export gas would make it easier for them to access greater international investment, and produce more domestic gas, while Wesfarmers and other large gas consumers oppose overturning the current ban on onshore producers exporting their gas.

News

Chinese cuts drive iron ore price to 21-month low

The price of iron ore has fallen to its lowest point since November 2022, being at $95.25 a tonne, with the price of iron ore having topped $US144 on 3 January. It comes after the National Bureau of Statistics of China revealed that steel production in July was 82.94 million tonnes, down nine per cent on the previous month, while production for the first seven months of 2024 was down 2.2 per cent on the same seven months in 2023; China Baowu Steel, the country's largest steel maker, has warned the sector faces a crisis more severe than the downturns of 2008 and 2015.

(Roy Morgan Summary)

 

 

 

Mining, Energy and Resources: Australia and Oceania

August 9, 2024

News

Legal fees for BHP class action top $680m

Law firm Pogust Goodhead is representing about 600,000 participants in a class action over Brazil's Samarco iron ore tailings dam collapse in 2015. The firm estimates that its legal fees could be around Stg250m, while total legal fees arising from the case could exceed Stg350m. Documents filed with the UK's High Court show that BHP's share of the legal costs have been forecast at around Stg108m; however, this is just for the first stage of the trial, and BHP will face a further legal bill if the resources group is found liable for the disaster in Brazil. Samarco is a joint venture between BHP and Vale.

(Roy Morgan Summary)

News

Win for Fortescue in private eye battle

Federal Court judge Brigitte Markovic has dismissed an application by Element Zero's founders to access the instructions that Fortescue gave to private investigators who had been hired to put them under surveillance. Fortescue alleges that its former employees Bart Kolodziejczyk, Bjorn Winther-Jensen and Michael Masterman used its intellectual property to develop Element Zero's rival green steel technology. Justice Markovic ruled that the instructions given to the private investigators are likely to be subject to legal professional privilege.

News

Creasy in talks for Macquarie's $148m debt at miner Calidus

Macquarie Bank has a four per cent stake in Calidus Resources, while it holds $148m of the failed gold producer's debt. Sources have indicated that Macquarie has finalised the terms of a deal to sell its Calidus loan at a price that is at or near its carrying value. The buyer of the debt is believed to be Yandal Investments, the private investment vehicle of Western Australian billionaire Mark Creasy. His deal to acquire Macquarie's debt could give Creasy an edge over other potential bidders for Calidus or its assets, which include the Warrawoona gold project and a 40 per cent stake in the Pirra lithium joint venture.

News

Win for Whitehaven, MACH as court rejects climate bid

The High Court has dismissed the Environment Council of Central Queensland's application for special leave to appeal the Federal Court's decision to allow two NSW coal mine extension projects to proceed. The court had ruled in May that federal Environment Minister Tanya Plibersek had acted lawfully in handling the environmental approvals process for the Whitehaven Coal and MACH Energy projects. The ECCQ had initiated legal action against the proposed mine expansions in 2022.

(Roy Morgan Summary)

Mining, Energy and Resources: Australia and Oceania

August 7, 2024

News

Liontown wants lithium breaks as prices teeter

Association of Mining & Exploration Companies CEO Warren Pearce says it is holding talks with the Western Australian government with regard to royalty relief for lithium producers. The price of spodumene has fallen to $US870 ($1,337) per tonne, and Liontown Resources CEO Tony Ottaviano contends that the government should intervene in order to avert a similar crisis to the rout that hit the nation's industry. He has also suggested that the federal government should expand its production tax credit scheme to include the upstream processing of spodumene.

(Roy Morgan Summary)

News

MinRes job cuts add to thousands lost in WA's mining sector route

A spokesman for Mineral Resources has confirmed that the iron ore and lithium producer will reduce its head count, although the bulk of the job cuts will be at its Perth head office. Mineral Resources has not disclosed the extent of the job losses, although it is believed to be about 100. The move follows the company's recent decision to mothball its high-cost iron ore mines in Western Australia's Yilgarn region and a delay in the expansion of the Wodgina lithium mine. WA's mining sector has already been hit by massive job losses in the nickel industry in 2024.

(Roy Morgan Summary)

News

Iron ore 'must learn from nickel pain'

Dino Otranto, the CEO of Fortescue's mining arm, has warned that Australia risks missing out amid the global shift to 'green' steel'. He has called for increased collaboration between industry and government to ensure that the nation capitalises on the decarbonisation of the steel industry. He adds that the demise of Australia's nickel industry provides a timely warning for iron ore producers.

News

Jilted ERA heads to court over Jabiluka mine axing

Energy Resources of Australia wants the Federal Court to undertake a judicial review of the Northern Territory government's decision to not renew its mining lease for the Jabiluka uranium deposit. ERA contends that it was denied "procedural fairness and natural justice" in the decision to permanently ban mining at Jabiluka. Amongst other things, ERA has questioned the haste with which federal Resources Minister Madeleine King advised the NT government to reject an extension of the mining lease, which is slated to expire on 11 August.

News

Newmont fights $130m 'restructuring' tax bill

The Australian Taxation Office contends that Newmont Corporation owes it some $132.6m in capital gains tax liabilities arising from a restructuring in 2011. The tax dispute is believed to centre on Newmont's decision to consolidate ownership of its local mines under its Newmont Australia subsidiary; this included a transaction in which two of the mining giant's North American subsidiaries sold their holdings in Newmont Australia back to it. Newmont contends that the transfer was an internal restructure rather than a share sale, and it should therefore not attract capital gain taxes

News

Watchdog threatens 'critical' Browse

Woodside Energy's CEO Meg O'Neill has emphasised the importance of the company's Browse LNG project. She contends that Browse is the only gas field of sufficient size to meet the forecast demand for energy over the near-term. The Browse project's future is under scrutiny following a preliminary ruling from Western Australia's Environmental Protection Authority that it presents a "unacceptable risk" to marine ecology. The EPA is expected to make a final recommendation on the project in 2025, although it can be overruled by the federal government. O'Neill has also defended Woodside's deal to acquire a low-carbon ammonia project in the US.

(Roy Morgan Summary)

 

 

 

Market, Commodities and Financial News

Snapshot via Media Man

July 29, 2024

ASX futures up 60 points or 0.8% to 7938 near 3am AEST

AUD +0.2% to 65.48 US cents

Bitcoin -0.6% to $US67,636

Dow +1.6%

S&P +1.1%

Nasdaq +1%

FTSE +1.2%

DAX +0.7%

CAC +1.2%

Gold +1.0% to $US2387.19 an ounce

Brent oil -1.5% to $US81.13 a barrel

Iron ore +2.5% to $US102.40 a tonne

 

Bitcoin drops 10pc as rout deepens

August 5, 2024

 

Bitcoin is under pressure from a bout of risk aversion in global markets that saddled the largest digital asset with its heftiest weekly loss since the collapse of the FTX exchange in 2022.

The original cryptocurrency sank more than 10 per cent at one point before paring some of the decline to trade at $US54,333 ($83,590). The token lost 13.1 per cent in the seven days through Sunday, the most since the FTX bankruptcy period. Smaller tokens such as ether and meme-crowd favourite dogecoin also nursed heavy losses.

The declines come as a global stock sell-off intensifies, reflecting concerns about the economic outlook and questions over whether heavy investment into artificial intelligence will live up to the hype surrounding the technology. Geopolitical tension is rising in the Middle East, adding to investor skittishness.

Bitcoin exchange traded funds in the US suffered their largest outflows in about three months on August 2. The digital asset has also tumbled through its 200-day moving average price.

The latter technical chart pattern “opens the way for a deeper pullback” towards $54,000, Tony Sycamore, market analyst at IG Australia, wrote in a note.

Bitcoin has been buffeted by a range of factors since hitting a record of $US73,798 in March, including shifting political fortunes in the US as pro-crypto Republican Donald Trump and his Democratic opponent, Vice President Kamala Harris – who has yet to detail a digital-asset policy stance – lock horns in the presidential race. (AI News, Wires)

 

 

Media Man Int

Media Man Int X



Elon Musk’s X Files Antitrust Suit Against Global Advertising Alliance

August 6, 2024



Elon Musk’s social media platform X has launched a significant antitrust lawsuit against the Global Alliance for Responsible Media (GARM) and several of its member companies, alleging an illegal ad boycott that targeted the platform. The lawsuit, filed in Texas, is aimed at GARM, its parent firm World Federation of Advertisers (WFA), and members including CVS Health, Mars, Orsted and Unilever.

In an open letter to advertisers, X CEO Linda Yaccarino highlighted the reasons behind the lawsuit, stating that it was a direct response to GARM’s actions which allegedly cost the company billions of dollars. “This is not a decision we took lightly, but it is a direct consequence of their actions,” Yaccarino wrote. “The illegal behavior of these organizations and their executives cost X billions of dollars” per The New York Post.

The lawsuit is seeking trebled compensatory damages and injunctive relief, according to a complaint viewed by The New York Post. GARM, led by Robert Rakowitz, is an initiative of the WFA, which represents many of the world’s largest companies and ad organizations, including Disney and Coca-Cola. Its members control 90% of global marketing spending, nearly $1 trillion per year.

Yaccarino emphasized that the issue extends beyond financial damages. “This case is about more than damages — we have to fix a broken ecosystem that allows this illegal activity to occur,” she added.

According to The New York Post, the suit argues that the boycott undermined the marketplace of ideas by financially harming certain viewpoints over others. (Credit: PYMNTS)

Full article and coverage via PYMNTS

https://pymnts.com/cpi-posts/elon-musks-x-files-antitrust-suit-against-global-advertising-alliance/

PYMNTS is a former Media Man 'Business News Outlet Of The Month' award winner and finalist

 

News

Elon Musk takes GARM, several companies to court over alleged advertising boycott of X outlined in bombshell report

August 7, 2024

Tech billionaire Elon Musk has taken several companies and an advertising alliance to court over allegations of a "boycott" of X.

Elon Musk has waged “war” against advertisers as his social media platform X filed an antitrust lawsuit against a global ad alliance and several major companies, accusing them of illegally boycotting the site.

X filed a suit in a federal court in Texas against the World Federation of Advertisers (WFA), the Global Alliance for Responsible Media (GARM) and its members CVS Health, Mars, Orsted and Unilever.

The suit comes after a report from the US House of Representatives Judiciary Committee found GARM and its members “directly organised boycotts” and employed other indirect tactics to target disfavoured “platforms, content creators” and news organisations to demonetise them.

It alleges that GARM’s boycott led advertisers to pull money from X under the guise of “brand safety” concerns.

X’s CEO Linda Yaccarino argued this tactic hindered users on the social media platform from accessing a wide breadth of ideas by funding alternative viewpoints.

“The consequence - perhaps the intent - of this boycott was to seek to deprive X’s users, be they sports fans, gamers, journalists, activists, parents or political and corporate leaders, of the Global Town Square,” she wrote.

“To put it simply, people are hurt when the marketplace of ideas is undermined and some viewpoints are not funded over others as part of an illegal boycott.”

Mr Musk shared his colleague’s statement to the platform and boldly declared: “We tried peace for 2 years, now it is war.”

He later encouraged “any company who has been systematically boycotted” to file a suit.

Following his post, video sharing platform Rumble joined Mr Musk’s lawsuit, claiming it has also been impacted towards GARM’s alleged skew away from right wing voices and ideologies.

The platform announced its move on X where it accused GARM of being “a conspiracy to perpetrate an advertiser boycott of Rumble and others, and that's illegal”.

Since Musk took over the social media platform in October 2022, X has suffered a serious dive in ad dollars with the platform taking in US$2.5 billion in 2023, according to Bloomberg.

This was down from the US$1bn it was bringing in every quarter of 2022.

Musk triggered controversy again in November 2023 when he endorsed an anti-Semitic conspiracy theory that Jewish communities push “hatred against whites”.

The X owner responded: “You have said the actual truth,” sparking an advertiser exodus that was reported to have lost the company as much as $75m, per The New York Times.

He made headlines again in the same month after blasting advertisers boycotting the social media platform, boldly declaring: “Go f**k yourself”.

“If somebody is going to try to blackmail me with advertising, blackmail me with money, go f**k yourself. Go f**k yourself. Is that clear? I hope it is,” he said. (Sky News Australia)

Full article and coverage via Sky News Australia

https://www.skynews.com.au/business/media/elon-musk-takes-garm-several-companies-to-court-over-alleged-advertising-boycott-of-x-outlined-in-bombshell-report/news-story/7bac6243aada770042d14ca84afc23e7

Technology News (Media Man Int) https://mediamanint.com/news3.html

Advertising News (Media Man Int) https://mediamanint.com/advertising_news.html

Media News (Media Man Int) https://mediamanint.com/news2.html

 

Yahoo Finance wins Media Man 'Business News Outlet Of The Month' award

 

 

PYMNTS wins Media Man 'Businees News Outlet Of The Month' award

Market, Commodities and Financial News Snapshot via Media Man

August 7, 2024

Australian Dollar: $0.6520 USD (up $0.0024 USD)

Iron Ore Sep Spot Price (SGX): $102.85 USD (down $0.70 USD)

Oil Price (WTI): $72.96 USD (down $1.02 USD)

Gold Price: $2,389.45 USD (down $19.96 USD)

Copper Price (CME): $4.0095 USD (up $0.0085 USD)

Bitcoin: $56,485.71 USD (up 3.10% in last 24 hours)

Dow Jones: 38,997.66 at 5.02pm NY time (up 294.39 points on yesterday's close)

(Roy Morgan Summary)

 

 

 

 

Markets and Commodities

 

July 18, 2024

Australian Dollar: $0.6730 USD (unchanged)

Iron Ore Aug Spot Price (SGX): $105.05 USD (down $2.10 USD)

Oil Price (WTI): $83.10 USD (up $2.28 USD)

Gold Price: $2,458.69 USD (down $10.15 USD)

Copper Price (CME): $4.4165 USD (down $0.0405 USD)

Bitcoin: $64,196.81 USD (down 0.80% in last 24 hours)

Dow Jones: 41,198.08 at 4.20pm NY time (up 243.60 points on yesterday's close)

(Roy Morgan Summary)

 

 

 

Donald Trump Bitcoin Conference Keynote
https://youtube.com/watch?v=9UxAUryUKXM&ab_channel=BitcoinMagazine

Donald Trump delivers his keynote address at the Bitcoin Conference 2024. In a groundbreaking speech at the Bitcoin 2024 conference in Nashville, former President Donald Trump outlines his vision for a crypto-friendly America. Trump promises to end the current administration's "anti-crypto crusade" and positions himself as the first major party nominee to accept Bitcoin donations. He pledges to fire SEC Chairman Gary Gensler, create a Presidential Crypto Advisory Council, and keep all government-held Bitcoin. Trump's address covers a wide range of topics, from energy policy to inflation, connecting them all to the future of Bitcoin and cryptocurrency in America. He vows to make the U.S. the "crypto capital of the planet" and a "Bitcoin superpower," promising regulatory clarity and economic prosperity for the industry.

This video is a must-watch for anyone interested in the intersection of politics and cryptocurrency. Lower your time preference and lock-in your Bitcoin 2025 conference tickets today!!! (Credit: Bitcoin Magazine
@BitcoinMagazine
/Bitcoin 2024)

Click Here: http://b.tc/conference/2025 #djt

Websites

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NEWS: DONALD TRUMP TO SPEAK AT BITCOIN 2024 CONFERENCE IN NASHVILLE
https://bitcoinmagazine.com/business/donald-trump-to-speak-at-bitcoin-2024-conference-in-nashville

Bitcoin Magazine YouTube
https://youtube.com/@BitcoinMagazine

 

 

 

Business News: Australia

 

(Roy Morgan Summary)

ASX to fall as investors await big tech earnings

July 22, 2024

Futures pricing suggests that Australian equities will shed about 0.8 per cent when the market opens on Monday, following a negative lead from Wall Street. A dearth of local economic data means that investors will be focused on offshore markets over the coming week; the quarterly reporting season in the US is likely to attract scrutiny, with two of the seven major technology companies set to release their latest financial results in coming days. The S&P/ASX 200 fell 0.8 per cent to 7,961.6 points on Friday.

(Roy Morgan Summary)


News

Lithium stocks targeted by short sellers

Australian Securities & Investments Commission data has revealed that seven companies on the ASX had more than 10 per cent of their shares reported as shorted as at 12 July, compared to just one in the previous year. Companies involved in the mining of lithium and other materials used in the manufacture of electric vehicles account for seven of the 10 most shorted stocks on the ASX, with 21.06 per cent of Pilbara Minerals shares reported as shorted. Oscar Oberg from Wilson Asset Management says Pilbara Minerals' reported short position is unheard of; he adds that Pilbara Minerals is being shorted because demand for electric vehicles is not as strong as had been forecast.

News

Mortgage cliff turns into a subsiding wave

PEXA Group's chief economist Julie Toth believes that the rush for Australians to refinance their mortgage loans has peaked. She adds that rather than a 'mortgage cliff', the nation has experienced only a 'wave' as borrowers have shifted their loans to variable interest rates after their fixed-loan period expired. Toth adds that there has been a slight increase in mortgage arrears and distressed sales in response to the Reserve Bank's aggressive monetary policy tightening cycle; she expects arrears to remain stable if there are no more interest rate increases.


News

CSR's insulation price rise 'could be gouging'

Insulation distributor Consolidated Energy alleges that building materials group CSR misused its market power to 'gouge' suppliers with huge increases in the price of insulation; it is seeking internal documents and board papers in order to prove its claim. Consolidated Energy is asking the Federal Court to grant its request that CSR be required to hand over information relating to price increases between June 2021 and June 2022; Consolidated Energy alleges that CSR was limiting supply to distributors and imposing big price increases in order to benefit its own business.


News

Coal boss: use gas to ease the transition

Data from the Australian Energy Market Operator has revealed that no renewable energy project that was in the commissioning stage reached full output in June. This was despite an increase in renewable energy projects being ready to come online, prompting calls from Delta Electricity CEO Richard Wrightson for gas to be included in the federal government's Capacity Investment Scheme. With Delta being the owner of the Vales Point coal plant in NSW, Wrightson says gas is the only technology available now that can solve the firming problem, but it is the only technology that is being supported by the government's scheme.


News

Fortescue now marching 'to the one beat'

July 20, 2024

(Roy Morgan Summary)

Andrew Forrest surprised investors at its 2020 AGM when he outlined a vision for the iron ore mining company that would see it become a green energy behemoth. He said Fortescue would be targeting production of as much as 235 gigawatts or renewable energy, more than five times the capacity of Australia's National Electricity Market at the time. However, Forrest has now conceded it cannot achieve its target of producing 15 million tonnes of green hydrogen a year by 2030 because of soaring energy costs, although he contends Fortescue's green energy dream is still alive. Fortescue will now bring its iron ore and green energy units back together, with Forrest saying that all of the company are "all marching in the same direction, to the same drum beat".

(Roy Morgan Summary)

 

 

Shares In Hot Fintch Company Block Fall After Latest Hindenburg Report
(Chartr)

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July 8, 2024

Crypto Bargain-hunters are back

 

Market picture

Bargain hunters are showing themselves in full force in crypto. Cryptocurrency market capitalisation rose 3.6% in 24 hours to $2.11 trillion, climbing back to the top of the range of the past five days. It will take the market to rise another 2% before we can say that the bear attack has been repelled. Until then, we can only talk about consolidation after the sell-off.

Bitcoin rebounded to $57.3K after a couple of dips to $54K, sticking to its descending channel that has been in force since March, but the price is very dangerously stuck at the bottom of this corridor. This situation makes us fear an acceleration of the sell-off with a potential target in the $50-51K area, where the crypto market was stagnant in February.

Ethereum trades at $3050 and remains below the 200-day moving average but has not given up trying to climb higher. Here, ETH has a strong support line, which also attracted buyers in April and May. More on the bulls' side is that the RSI on daily timeframes rises from oversold territory. These are promising technical signals, but the sustained sell-off from the US and German governments and the overhang of selling from Mt Gox lenders is clearly undermining the confidence of too many buyers.

News background

According to CoinShares, investments in crypto funds rose by $441 million last week for the first time after three weeks of outflows. Bitcoin investments increased by $398 million, Solana by $16 million, Ethereum by $10 million.

Recent price declines, driven by potential selling pressure from Mt Gox and the German government, were probably seen as a buying opportunity. Inflows into BTC accounted for only 90% of the total inflows, as investors chose to invest in a much broader set of altcoins. The most notable of these was Solana, which has received $57 million in investments since the beginning of the year, making it the most efficient altcoin in terms of flows, CoinShares noted.

German authorities continue to transfer Bitcoins to exchanges. On 8 July, two 250 BTC transfers were made to Coinbase and Bitstamp platforms. Transactions of 700 BTC and 500 BTC followed to unidentified Arkham numbers.

The Bitstamp exchange promised to distribute the payments from Mt Gox "as soon as possible," despite having a 60-day deadline. So far, only Japanese BitBank and SBI VC Trade addresses have been distributed coins. The three remaining recipients - Bitstamp, Kraken and BitGo - are still awaiting their turn. The trustee has 94,771 BTC (~$5.4bn) left to send.

Bitfinex points out signs of a potential end to the market correction. Short-term investor selling is potentially close to exhaustion. Meanwhile, the funding rate for perpetual BTC contracts has turned negative for the first time since 1 May.


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Donald Trump to Headline Bitcoin 2024 Conference in Nashville

July 11, 2024

Former President Donald Trump has been confirmed as a keynote speaker at the upcoming Bitcoin 2024 conference set to take place in Nashville, Tennessee.

This news comes as a significant development for the event, known for its major industry announcements and influential speakers. The conference, which has previously been hosted in Miami, has established itself as a platform for groundbreaking news within the cryptocurrency space.

Bitcoin 2021, the inaugural conference, made headlines when El Salvador officially declared Bitcoin as legal tender. The subsequent Bitcoin 2022 and Bitcoin 2023 conferences continued the trend of notable moments, including a powerful speech by U.S. Presidential candidate Robert F. Kennedy Jr. in support of the Bitcoin industry.

This year, the shift of the conference location from Miami to Nashville signifies its increasing prominence on the global stage. With two former U.S. Presidential candidates, Robert F. Kennedy Jr. and Donald Trump, slated to speak, Bitcoin 2024 is anticipated to be a pivotal event that could potentially impact the future trajectory of Bitcoin and cryptocurrency policies in the United States.

Donald Trump’s participation in the conference is especially noteworthy considering his recent engagements with the Bitcoin community. Earlier this year, Trump met with prominent U.S. Bitcoin miners, including representatives from CleanSpark, where he reiterated his support for Bitcoin mining both domestically and internationally. In a statement, Trump pledged to prioritize the development of Bitcoin and crypto initiatives in the United States and safeguard the rights of the nation’s 50 million crypto holders if re-elected as president.

As Trump embarks on his presidential campaign, his alignment with the Bitcoin industry stands in contrast to the position of his potential rival, President Joe Biden, who has shown less enthusiasm towards the cryptocurrency sector. While Biden’s participation in Bitcoin 2024 remains unconfirmed, the event could underscore the divergent approaches of the two candidates towards Bitcoin and its implications for U.S. policies.

For additional details on the Bitcoin 2024 conference and to secure a discounted ticket using a promotional code, interested individuals can visit the official event website. Bitcoin Magazine, a subsidiary of BTC Inc, the organizer of the largest Bitcoin conference, The Bitcoin Conference, will be overseeing the event.

Websites

Bitcoin 2024
https://b.tc/conference/2024

Bitcoin Magazine
https://bitcoinmagazine.com

 

 

 

July 1, 2024

Buyers failed to pick up on the crypto market

Market picture

The crypto market has been enjoying an influx of buyers since Saturday, with a visible acceleration on Monday. Over the past 24 hours, capitalisation has risen 3.6% to $2.33 trillion. Last week’s drop in the crypto sentiment index to 30 (fear zone) reversed the price twice, showing that the market is dominated by a ‘buy the dip’ pattern.

Bitcoin is trading near $63.3K, adding 5% since Saturday morning and reaffirming the importance of support at 61.8% of the Jan-March rally. From another perspective, Bitcoin is adding and bouncing off the lower boundary of the downward channel. Likely, the price is now moving towards the upper boundary at $67K. However, cautious buyers may prefer to wait for confirmation with the price rising above $72-73K - the pivot area of the last four months - which would be confirmation of the start of a new impulsive wave of growth.

Bitcoin ended June down 8.5% to $61.9K. In terms of seasonality, July is considered quite successful for BTC, adding eight times (22.3% on average) out of the last 13 and declining on five occasions (-7.8% on average).

News background

In terms of on-chain analysis, quotes have crossed the realised price level of short-term holders at $62,000, which historically can act as support during corrections in bull markets.

According to Arkham data, German authorities sent another 595 BTC worth ~$36.6 million to crypto exchanges on 26 June. Authorities began actively moving the cryptocurrency on 19 June, when some of it first hit the Kraken and Bitstamp exchanges.

Bitwise forecasts net inflows into spot ETH-ETFs in the US of $15bn in the first 18 months. Bloomberg expects trading in the new product to start on 2 July.

Solana Foundation has launched tools that enable it to turn any website or app into a gateway for cryptocurrency payments and other blockchain transactions.

On 26 June, the Blast development team completed the first phase of an airdrop, distributing 17 billion BLAST tokens (17% of the total issuance). Blast is an Ethereum-based layer 2 (L2) network that was launched in November 2023 by Blur founder under the pseudonym Pacman. In terms of blockchain value locked (TVL), the Blast ecosystem is ranked sixth in the DeFi Llama ranking with a value of $1.58bn.


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News

Finance / World Business News

Euro, Gold, Crypto and more via Media Man and FX Pro

A strong current account surplus may not help euro

The eurozone's current account surplus climbed to a six-month high of 31.9bn in December. Analysts, on average, had expected a decline to 20.3 bn from 22.5 bn the previous month. The current level was seen in the eurozone during the relatively benign pre-Covid period and sometime before Natural Gas prices spiked in the second half of 2021.

The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.

The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.

Gold

Gold rises but within a downward channel

Gold rallied for the fourth consecutive session to reach $2023, recovering almost all the losses suffered the week before on the back of the inflation report. Gold's ability to rally suggests continued domestic demand, as some investors are clearly rushing to buy back any losses.

At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.

The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.

Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.

Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.

However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.

Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.

On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.

 

Cryptocurrency

Crypto market growth halted amid capital inflows

Market picture

The crypto market has corrected 0.46% in the last 24 hours, fluctuating within a narrow range without a clear direction. Bitcoin is down 1% but up 3.7% over seven days, Ethereum is flat for the day but up 10.6% over the week. The top coins are mixed with BNB +2% and Solana -2.5%.

Bitcoin is currently drawing its fourth daily candle with opening and closing levels close to each other. Such sideways consolidations are characteristic of strong bull markets, as opposed to corrective pullbacks on smoother rallies.

Ethereum hit local highs on rumours of a positive regulatory decision before the end of March. Bloomberg analyst James Seyffarth bet 4 ETH that the SEC will not approve a spot Ethereum ETF next month.

According to data from CoinShares, investment in crypto funds rose by a record $2.452 billion last week, following inflows of $1.116 billion the previous week.
Bitcoin investments increased by $2.424 billion, Ethereum by $21 million, Cardano lost $6 million, and Solana lost $1.6 million.

Since the beginning of the year, crypto funds have seen inflows of an impressive $5.2 billion, with total AUM rising to $67 billion, the highest since December 2021.

News background

Bitcoin will see institutional support in the next three to six months, according to Coinbase. Bitcoin ETFs could eventually become a major competitor to gold funds.
According to IntoTheBlock, there is an 85% chance that Bitcoin will reach a new all-time high within the next six months. Five factors could contribute to this: the halving of the price, ETFs, monetary easing, the US election, and companies accumulating BTC as part of their treasuries.

Former CIA contractor Edward Snowden, who has been living in Russia since 2013, called bitcoin the most significant achievement of the financial system in the entire existence of money and means of exchange.

Amberdata admitted that Ethereum will outpace Bitcoin in terms of growth due to more constructive deflationary policies. The supply of ETH has been decreasing since September 2022, thanks to the update of The Merge, as well as the implementation of a mechanism to burn part of the commissions. During this time, around 0.36 million ETH, or 0.3% of the total supply of 120 million coins, have been removed from circulation.

 

Via Roy Morgan Research and Media Man social media

Copper, gold, and Bitcoin rise; Iron ore and oil fall; ASX to fall in response to selling on Wall Street; US vetoes Arab-backed UN resolution demanding ceasefire in Gaza; Assange's lawyers warn that he risks 'flagrant denial of justice' if he is tried in US

Latest updates on Key Economic Indicators

21 February 2024

Roy Morgan Summary

Australian Dollar: $0.6550 USD (up 0.0011 USD)
Iron Ore Mar Spot Price (SGX): $120.85 USD (down $6.40 USD)

Oil Price (WTI): $78.27 USD (down $1.02 USD)

Gold Price: $2,024.37 USD (up $6.43 USD)

Copper Price (CME): $3.8595 (up $0.0465 USD)

Bitcoin: $52,059.35 (up 0.35% in last 24 hours)

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

 

Market Research Update

20 February 2024

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians. One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family".

Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.: 38,582.12 at 3.22pm NY time (down 45.87 points on Friday's close)

 

Roy Morgan wins three-year contract to deliver domestic tourism statistics for Austrade

21 February 2024

Roy Morgan Summary

From 2025, Roy Morgan will provide Austrade with the world's best practice survey methodology, big data integration and modelling techniques to deliver accurate domestic tourism statistics. Roy Morgan has reimagined the future of domestic tourism statistics to move Austrade and its stakeholders to the forefront of tourism intelligence with a new platform that will drive the future of Australia's tourism industry, which is estimated to be worth in excess of $160 billion. Portia Morgan, the Head of Client Services at Roy Morgan, says that using face-to-face interviewing, which is the gold-standard for surveying the population, enhanced with big data and cutting-edge data science techniques, Roy Morgan will be delivering a future-proofed system that will be cost effective, reliable, and accurate. She adds that Roy Morgan has been delivering survey-based tourism insights via its Holiday Tracking Survey for 20+ years and the company is thrilled to be working with Austrade and the broader industry to provide a deeper of understanding of how many people are travelling, where they go, what they do and how they spend their valuable tourism dollars.

 

Anti-mining PM pushes BHP's cash offshore

Roy Morgan Summary

It is somewhat hypocritical of the federal government to flag possible support for Australia's nickel industry, given that Labor's anti-mining legislation may jeopardise the expansion of BHP's copper operations in South Australia. BHP is still likely to proceed with an expansion, but the previously touted investment of between $10bn and $15bn is now only a 50 per cent chance. The new labour laws in the government's industrial relations reforms mean that BHP is now more likely to redirect much of this capital investment to its criticals minerals projects in other countries; rival miner Rio Tinto is already doing this.

 

More than 2.7 million New Zealanders now read newspapers and magazine audiences surge to over 1.7 million

21 February 2024

Roy Morgan has released its readership results for New Zealand's newspapers and magazines for the 12 months to December 2023. The data shows that 2.73 million New Zealanders aged 14+ (64.4%) now read or access newspapers in an average 7-day period via print or online (website or app) platforms. In addition, 1.71 million New Zealanders aged 14+ (40.3%) read magazines, whether in print or online either via the web or an app. The New Zealand Herald is still the nation's most widely-read publication, with a total cross-platform audience of 1,720,000 in the 12 months to June 2023 - almost five times as many as the second placed Dominion Post with a readership of 341,000. Meanwhile, New Zealand's most widely read magazine is still the driving magazine AA Directions, which had an average issue readership of 379,000 during the year to December (an increase of 63,000 on a year ago).

These are the latest findings from the Roy Morgan New Zealand Single Source survey of 6,254 New Zealanders aged 14+ over the 12 months to December 2023.

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians. One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family". Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.

(Credit: Roy Morgan Research)

 

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians.

One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family". Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.

(Credit: Roy Morgan Research)

 

 

 

The Saudi National Manual for Assets and Facilities Management Released by EXPRO

It will serve as a comprehensive reference enhancing quality, efficiency, and sustainability in Saudi Arabia Government entities.

RIYADH, SAUDI ARABIA, June 5, 2024 /EINPresswire.com/ -- The National Manual for Assets and Facilities Management (NMA&FM) represents a comprehensive reference that enhances quality, efficiency, and sustainability in the management of assets and facilities in Saudi government entities. This reflects the value of the citizens’ combined efforts to establish a unified reference in this field, which is considered the first of its kind on the national and regional levels.

The manual, which is prepared by the Government Expenditure & Projects Efficiency Authority “EXPRO” combined effort with success partners from the concerned government entities, aims to unify the different procedures for managing assets and public facilities, ensuring compliance with local legislation, and building asset management systems by registering and evaluating them to support optimal decision-making. The goal is to extend the life cycle of assets, manage public facilities effectively and efficiently based on the principle of cost and quality and relying on continuous improvement, and preserve resources by activating the concept of financial planning for asset and facility management and effective management of supply chains and contracts.

The manual serves as a technical reference for public entities on how to utilize each entity’s asset and facility management resources impeccably and manage them efficiently. It also covers the entire business life cycle of assets and facilities, starting with planning, constructing, and receiving the project, through contracting and purchasing stages, to operating and maintaining and ending with the decision to stop using and dispose of the facility or asset.

The implementation of this manual has documented success stories in various government entities, Including the Hygiene Performance Contracts transformation Initiative For Riyadh City in cooperation with Riyadh Region Municipality. This initiative resulted in the preparation and development of 16 integrated performance contract brochures for the hygiene of Riyadh city, with an estimated value of over 6 billion riyals, and the development of 11 performance indicators to improve service implementation and quality.

To increase operational efficiency and service quality at the Ministry of Environment, Water, and Agriculture, a system for facilities management was established according to best practices. This included automating assets and facilities management processes, creating an indicator board with over 10 indicators, and setting a standard for classifying dams based on urgency and risk levels according to the global best practices. Additionally, a complete asset registry for dams was built, and the computerized operations and maintenance system was activated.

The collaboration with the Ministry of Human Resources and Social Development led to an increase in operating efficiency and improvement in the quality of service by establishing a facilities management system based on best practices and automating five main and supportive processes for managing assets and facilities. This reduced operational and maintenance costs and increased beneficiary satisfaction rates.

Furthermore, the cooperation with King Saud University has improved operational efficiency and service quality. The university’s assets were counted and inventoried, the effectiveness of the computerized asset management program system was enhanced, and it was linked to other systems at the university in line with the requirements of the national manual. Additionally, an occupational health and safety policy was developed and approved, measurement indicators were identified, and seven procedures for operation and maintenance were implemented. These measures contributed to accelerating and facilitating the operation and field maintenance processes, as well as merging with inventory management to raise the efficiency of purchasing operations.

In addition, Imam Muhammad bin Saud Islamic University has succeeded in developing and launching a computerized system for managing assets and facilities. This system includes the operation automation and maintenance processes and ordering spare parts through computerised systems, increasing spending efficiency on annual operation and maintenance costs. It also accelerated service provision, monitored implementation, and provided data and technical and financial indicator panels to support decision-makers. This cooperation resulted in a qualitative leap in the satisfaction rate of users of university facilities, as well as the complete automation of the inventory and spare parts management process.

The Riyadh Region Municipality developed 13 integrated performance contract brochures for the operation and maintenance of Riyadh’s roads, with an estimated value of 2 billion riyals, and established nine performance indicators to measure the service performance, implementation, and quality.

EXPRO has made the manual available to its partners from public entities, their asset and facility departments, and specialized contractors and consulting offices via the website. EXPRO is committed to providing partners with all necessary knowledge for the manual's application through a training package for each volume, on-the-job training, and experiential learning.

The manual consists of 17 volumes upon which the asset and facilities management methodology is based. Each volume addresses a specific function of asset and facilities management and takes into account the best global practices for accomplishing these functions. It is reviewed and updated periodically based on accumulated experiences and the contributions of a committee of government entities’ representatives, as well as global developments in the field of asset and facilities management.

The first volume includes an introduction to the manual, covering the calibres and guidelines necessary for management. The second volume is devoted to managing assets and the business requirements while achieving a balance between risks, performance and cost to ensure the proper use of assets. It also focuses on effectively monitoring assets during their life cycle to guarantee proper utilization, as well as relying on specialized asset management systems and software.

The third volume explains how assessment, as an organizational process, is useful in determining an asset's condition and establishing an appropriate life cycle. This supports the proper direction of the asset and subsequent maintenance activities, ultimately achieving the required value.

The fourth volume includes guidelines for defining the financial policy framework, including planning the asset’s life cycle with regard to the necessary funding to maintain its operation at the required service level. It also covers the integration of strategic asset management with financial planning procedures, which helps in making decisions between investment and funding options and determining the achievable service level.

The fifth volume focuses on managing the processes of planning, organizing, and work control, as well as maximizing the use of resources to manage facilities and assets. This is based on written procedures that support the preservation of resources and limit any shortcomings or inconsistencies in the services provided, thus helping to avoid a negative impact on the entity’s reputation. It also emphasizes aspects that must be taken into account in future planning and development.

The sixth volume is concerned with managing maintenance by applying best practices to develop tools for planning maintenance and applying methodologies in their management. This contributes to determining the design life of the assets and the continuity of their services to maintain the safe and reliable operation of the assets. Additionally, it focuses on optimizing the benefits of its operational processes.

The seventh volume guides the procedures for adjusting the work and managing the requests related to maintenance activities. It prioritizes and plans these activities, fixes malfunctions, estimates costs, schedules work, and oversees testing and closure.

The supply chain management volume focuses on the strategic planning, implementation, control, and monitoring of supply chain activities, such as warehouse and inventory management. Effective supply chain management contributes to achieving optimal value and promotes competitive infrastructure as well as logistics services worldwide while measuring performance and linking supply to demand.

The Contract Management volume focuses on planning, implementing, managing and supplying asset and facility contracts that ensure legal compliance, meet required service levels, maximize financial and operational performance, and reduce potential risks.

The tenth volume focuses on safety, health, and the environment by providing a guideline to the procedures and controls relied upon to protect employees, visitors, public property, and the environment. It includes procedures for monitoring compliance, risk assessment, safety reviews, and safety training.

The eleventh volume presents the core pillars of quality management, which include monitoring daily work, conducting audits to measure the service provider’s compliance with its contractual obligations, and addressing inconsistencies. The effective application of quality management promotes strategies, policies, procedures, and plans.

The manual makers devoted a volume to managing risks and reducing the potential impact of events that may hinder the stakeholder or user from achieving asset and facilities management objectives, with the possibility of applying risk management to all comprehensive management procedures.

The thirteenth volume guides and directs users on the procedures and principles that must be applied to establish effective document management. Document and records management services are useful for obtaining, circulating and retrieving approved information when needed.

Volume Fourteen pays attention to emergency management, strategic organization of personnel, and allocation of resources to reduce the impact of emergencies and restore operations effectively.

The performance control volume explains the foundations of operating and managing operations and activities in accordance with the entity’s mission, vision, goals and requirements. This allows changes to be made when needed in order to maintain the consistency and effectiveness of performance to achieve the desired business objectives.

The asset and facility management of construction project volume identifies the procedures required during the construction stages to ensure the best results of operation and maintenance throughout the life cycle of the asset’s construction or restoration project.

The Energy Management and Sustainability Guideline outlines the optimal means for the strategic application of energy efficiency in buildings, in addition to sustainability, which represents an approach to integrating the environment, human needs, and costs.

EXPRO has recently launched the “Evolution of Tradition” awareness campaign to publicize the importance of the National Manual for Assets and Facilities Management. This includes a series of multimedia explaining the importance of following the manual’s guidelines to organize and facilitate the work of government entities, achieving many benefits on the national level in terms of efficiency and quality. These have a direct impact on performance of the entity and citizens. The campaign presents some government entities’ success stories following the implementation of Manual. Expenditure efficiency teams within government entities also organize activities to publicize the importance and content of the manual.

For more details, contact Turki Bukhari, Executive vice president, A&FM at media@expro.gov.sa.

Learn more at: https://expro.gov.sa

Turki Bukhari
Expenditure & Projects Efficiency Authority (EXPRO)

 

 

Media Man

Warrner Bros

Profile

In 2010, the Warner Bros. Pictures Group broke the all-time industry worldwide box office record with receipts of $4.814 billion, which surpassed the prior record of $4.010 billion (set by the Studio in 2009). Warner Bros. also established a new industry benchmark for the international box office with a total of $2.93 billion (marking a record third time of crossing the $2 billion threshold) and retained its leading domestic box office ranking with receipts of $1.884 billion. 2010 also marked the 10th consecutive year Warner Bros. Pictures passed the billion dollar mark at both the domestic and international box offices. Warner Home Video was, once again, the industry’s leader, with an overall 20.6 percent marketshare in total DVD and Blu-ray sales. The companies comprising the Warner Bros. Television Group and Warner Bros. Home Entertainment Group remain category leaders, working across all platforms and outlets, and are trendsetters in the digital realm with video-on-demand (transaction and ad-supported), branded channels, original content, anti-piracy technology and broadband and wireless destinations.

The Warner Bros. Pictures Group brings together the Studio’s motion picture production, marketing and distribution operations into a single entity. The Group, which includes Warner Bros. Pictures and Warner Bros. Pictures International, was formed to streamline the Studio’s film production process and bring those businesses’ organizational structures in line with Warner Bros.’ television and home entertainment operations.

Warner Bros. Pictures produces and distributes a wide-ranging slate of some 18-22 films each year, employing a business paradigm that mitigates risk while maximizing productivity and capital. Warner Bros. Pictures either fully finances or co-finances the films it produces and maintains worldwide distribution rights. It also monetizes its distribution and marketing operations by distributing films that are totally financed and produced by third-parties. The Studio’s 2011 slate includes “Sucker Punch,” “The Hangover Part II,” “Green Lantern,” “Harry Potter and the Deathly Hallows – Part 2,” “Happy Feet 2” and “Sherlock Holmes: A Game of Shadows.”

Warner Bros. Pictures International is a global leader in the marketing and distribution of feature films, operating offices in more than 30 countries and releasing films in over 120 international territories, either directly to theaters or in conjunction with partner companies and co-ventures.

New Line Cinema, part of Warner Bros. Entertainment since 2008, coordinates its development, production, marketing, distribution and business affairs activities with Warner Bros. Pictures to maximize film performance and operating efficiencies. Highlights of New Line’s 2011 release slate, distributed by Warner Bros., include “Horrible Bosses,” “Final Destination 5,” “A Very Harold & Kumar 3D Christmas” and “New Year’s Eve.”

The Warner Bros. Television Group oversees and grows the entire portfolio of Warner Bros.’ television businesses, including worldwide production, traditional and digital distribution, and broadcasting. In the traditional television arena, WBTVG produces primetime and cable (Warner Bros. Television and Warner Horizon Television), first-run syndication (Telepictures Productions) and animated (Warner Bros. Animation) programming, which is distributed worldwide by two category-leading distribution arms/operations (Warner Bros. Domestic Television Distribution and Warner Bros. International Television Distribution).

Among the primetime series produced by divisions of the Warner Bros. Television Group are “Two and a Half Men,” “The Big Bang Theory,” “The Mentalist,” “Mike & Molly,” “Fringe,” “Gossip Girl,” “The Vampire Diaries,” “Nikita,” “The Middle,” “Southland,” “The Closer,” “Rizzoli & Isles,” “Supernatural,” “The Bachelor,” “Pretty Little Liars,” “Randy Jackson Presents America’s Best Dance Crew” and many more. Also produced by the company are first-run syndicated programs such as “The Ellen DeGeneres Show,” “TMZ” and “Extra,” among others, as well as animated shows “Scooby-Doo! Mystery Incorporated” and “Young Justice.”

WBTVG is an innovative leader in developing new business models for the evolving television landscape, including ad-supported video-on-demand, broadband and wireless, and has digital distribution agreements in place with all of the broadcast networks. Internationally, the Studio is one of the world’s largest distributors of feature films, television programs and animation to the worldwide television marketplace, licensing some 50,000 hours of television programming, including more than 6,000 feature films and 50 current series, dubbed or subtitled in more than 40 languages, to telecasters and cablecasters in more than 175 countries.

WBTVG provides original shortform programming for the broadband and wireless marketplace through its Studio 2.0 digital venture, and its digital media sales unit is devoted specifically to multiplatform domestic advertiser sales for both broadband and wireless. WBTVG continues its strategic expansion into digital production and distribution with the launch of several advertiser-supported entertainment destinations, including TheWB.com, a premium, video-on-demand interactive and personalized network and KidsWB.com, a premium destination built around youth-oriented immersive entertainment.

The final component of WBTVG is broadcasting: The CW Television Network, launched (in partnership with CBS) in September 2006 with quality, diverse programming, is targeted to the 18–34 audience.

Warner Bros. Animation’s combined classic and contemporary library currently boasts 14,000 animated episodes and shorts which air on domestic broadcast networks, as well as cable networks and in direct-to-video releases around the world. The classic library includes such brands as Looney Tunes, Merrie Melodies, Hanna-Barbera and Ruby-Spears as well as such beloved characters as Bugs Bunny, Daffy Duck, Sylvester, Tweety, Taz, Tom and Jerry, Popeye, Batman, Superman, the Flintstones, the Jetsons and Scooby-Doo.

Warner Bros. Home Entertainment Group brings together Warner Bros. Entertainment’s home video (Warner Home Video), digital distribution (Warner Bros. Digital Distribution), interactive entertainment/videogames (Warner Bros. Interactive Entertainment), direct-to-consumer production (Warner Premiere), technical operations (Warner Bros. Technical Operations) and anti-piracy (Warner Bros. Anti-Piracy Operations) businesses in order to maximize current and next-generation distribution scenarios. WBHEG is responsible for the global distribution of content through DVD, electronic sell-through and transactional VOD, and delivery of theatrical content to wireless and online channels. It is also a significant worldwide publisher for both internal and third party videogame titles.

In 2010, Warner Home Video dominated the U.S. market as the number one company in total sell-through video (DVD and Blu-ray combined) with 20.6% marketshare, theatrical catalog, TV on DVD, non-theatrical family and animation, Blu-ray and VOD. WHV has been the number one studio in overall DVD sales 14 consecutive years, and is also the leading studio in the international home video space.

With more than 3,700 active licensees worldwide, Warner Bros. Consumer Products licenses the rights to names, likenesses and logos for all of the intellectual properties in Warner Bros. Entertainment’s vast film and television library. With a global network of offices and agents in key regions throughout the world, including North America, Latin America, Asia and Europe, WBCP maintains an ongoing commitment to expand and build the power of its core brands’ recognition in the international marketplace through strong and creative merchandising, promotional marketing and retail programs.

DC Entertainment’s DC Comics has been in continuous publication for more than 60 years, and is the leading comic book publisher in the industry and the creator of some of the world’s most recognized icons. DC’s characters continue to headline blockbuster feature films, live-action and animated television series, direct-to-video releases, collectors’ books, online entertainment, digital publishing, countless licensing and marketing arrangements and, most recently, graphic novels. DC continues to attract new readers and fans all over the world with its signature characters Superman, Batman, Wonder Woman and Justice League leading the way.

Warner Bros. International Cinemas provides a true state-of-the-art movie experience to audiences in Japan with more than 60 multiplex cinemas and more than 600 screens internationally. One of the pioneers in multiplex development for the international marketplace, WBIC is continually exploring new markets for expansion. (Credit: Warner Bros. Entertainment)

 

Press Release

09 August 2010


MICROGAMING SET TO LAUNCH THE LORD OF THE RINGS™: THE FELLOWSHIP OF THE RING ONLINE VIDEO SLOT GAME


First Title to Utilize Proprietary Cinematic Spins™ Technology Allowing Players to Experience the Film with Every Spin


ISLE OF MAN – Microgaming today announced the imminent launch of a new flagship game, The Lord of the Rings: The Fellowship of the Ring Online Video Slot Game. This slot game is the first to utilise Microgaming’s new Cinematic Spins™ technology, allowing gamers to see clips from the films with every spin.

The Lord of the Rings: The Fellowship of the Ring is a new online slot game that is part of a multi-year licensing agreement Microgaming signed with Warner Bros. Digital Distribution in 2009. The company is developing a series of cutting-edge, graphic rich video slots based on this popular movie trilogy and will use animation material, themes, and characters, from the trilogy of The Lord of the Rings™ motion pictures that include The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers and The Lord of the Rings: The Return of the King. These online slot games will be available to adults only in countries where online gaming is permitted.

The Lord of the Rings: The Fellowship of the Ring is the first online video slot to use Microgaming’s Cinematic Spins™ state-of-the-art gaming technology. This allows movie clips to act as moving backgrounds behind the reels during spins providing players an unprecedented level of excitement and immersion.

Win sequences and expanding wilds also use cinematic clips, instead of traditional animated graphics. The slots feature famous scenes from the film including Ringwraiths during the attack at Weathertop, Balrog in the Mines of Moria, and Uruk-hai in the woods of Middle-earth. Players will also enjoy seeing characters from the films that include Frodo, Aragorn, Saruman and the deadly Black Riders.

Roger Raatgever, CEO Microgaming comments: “Microgaming has always been ahead of the curve with innovative offerings, but this game really does push the boundaries of what an online slot can do. The Lord of the Rings: The Fellowship of the Ring looks and feels like an extension of the big screen film experience and we’re confident that our operators will see a great deal of demand from their players, when the game is released. This is an important deal for Microgaming and highlights our commitment to partner with the right brands, at the right time. The Lord of the Rings is one of the most successful and well loved brands on the planet and we are excited about combining this widespread appeal with Microgaming’s groundbreaking software.”

The Lord of the Rings Trilogy generated $3 billion in worldwide box office receipts and was nominated for a total of 30 Academy Awards®; of which they won 17, including Best Picture.

- Ends -
Notes to editors:
*Cinematic Spins is a trademark held by Microgaming

© 2010 New Line Productions, Inc. All rights reserved. The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers, The Lord of the Rings: The Return of the King and the names of the characters, items, events and places therein are trademarks of The Saul Zaentz Company d/b/a Middle-earth Enterprises under license to New Line Productions, Inc.

For further information please contact:
Duncan Skehens / Laura Moss/ Lyndsay Haywood
Lansons Communications
020 7490 8828
DuncanS@lansons.com / LauraM@lansons.com / LyndsayH@lansons.com
Warner Bros. Digital Distribution

Peter Binazeski
818-977-5701
peter.binazeski@warnerbros.com
About Microgaming (www.microgaming.com)
Since the company developed the first true online Casino software over a decade ago, it has led the industry in providing innovative, reliable gaming solutions. Thanks to an unrivalled R&D programme, that averages 60 games per year and a unique ‘partnership’ approach to working with operators; Microgaming software powers over 160 market-leading online gaming sites.
The company’s front and back-end software supports multi-player, multi-language games - over 500 of them, all uniquely branded and provides platforms for land-based and wireless gaming. Microgaming powers the world’s largest Progressive Jackpot Network and has paid out over €265million. In May 2009 it created the biggest ever online jackpot winner with a single payment win of €6.37m.

As a founding member of eCOGRA, Microgaming is at the forefront of an initiative focused on setting the highest standards in the gaming industry, and leads in the areas of fair gaming, responsible operator conduct and player protection. Microgaming has been awarded eCOGRA’s Certified Software Seal following a rigorous onsite assessment to ensure that the development, implementation and maintenance of the software is representative of industry best practice standards Microgaming licensees are therefore eligible to apply for the eCOGRA Safe & Fair Seal.

About Warner Bros. Digital Distribution
Warner Bros. Digital Distribution (WBDD) manages Warner Bros. Home Entertainment Group's (WBHEG) electronic distribution over existing, new and emerging digital platforms, including pay-per-view, electronic sell-through, video-on-demand, wireless and more. WBDD also oversees the WBHEG's worldwide digital strategy, partnerships in digital services and emerging new clients and business activities in the digital space.

 

News

2009

With Time Warner sitting on $7 billion in cash, the Marvel deal has ignited rumours of a second wave of consolidation in the media industry. Dream Works Animation, home of Shrek, is seen as a potential takeover candidate, as is MGM with its huge library of classic films. The games firms Electronic Arts and Take Two Interactive, with its Grand Theft Auto franchise, are also being touted as potential buys.


Profile

Warner Bros. Entertainment, Inc. (also known as Warner Bros. Pictures, or simply Warner Bros.) is one of the world's largest producers of film and television entertainment.

It is a subsidiary of Time Warner, with its headquarters in Burbank, California and New York City. Warner Bros. has several subsidiary companies, including Warner Bros. Studios, Warner Bros. Pictures, Warner Bros. Interactive Entertainment, Warner Bros. Television, Warner Bros. Animation, Warner Home Video, TheWB.com and DC Comics. Warner owns half of The CW Television Network.


Founded in 1918 by Jewish immigrants from Poland, Warner Bros. is the third-oldest American movie studio in continuous operation, after Paramount Pictures, founded in 1912 as Famous Players, and Universal Studios, also founded in 1912.