April 27, 2024

Archives for February 2021

Ad With Realistic Take on Breastfeeding Airing at Golden Globes

Frida worked with the network on a 30-second edit that blurs or covers nipples that are visible in the original 75-second ad — a “fairly robust editing process at NBCU’s insistence,” said Chelsea Hirschhorn, the company’s chief executive, in a statement.

She added that the point of the ad remained intact — “that the physical and emotional breastfeeding journey puts an unrivaled pressure on women to ‘perform,’ and no longer should women be expected to prioritize making milk over their own physical discomfort.”

On YouTube, the original ad, which was posted on Feb. 24, already has more than 1.4 million views.

The spot was created by the ad agency Mekanism, a San Francisco shop that has created campaigns for Ben Jerry’s, HBO and, famously, Peloton. It was directed by Rachel Morrison, who was the first woman to be nominated for a cinematography Oscar for her work on the 2017 drama “Mudbound.”

Last year, Frida produced an ad showing an exhausted new mother in diaperlike postpartum underwear plodding to the bathroom. The commercial, according to the company, was blocked from airing during the Oscars because it was considered too graphic.

As pregnant women form purchasing preferences that often extend for years after their babies are born, they become a highly desirable demographic to marketers. Janet Vertesi, an associate professor of sociology at Princeton who experimented with hiding her pregnancy from internet trackers, estimated in 2014 that an average pregnant woman’s marketing data is worth $1.50, while a regular person’s is worth 10 cents. This month, the diaper brand Huggies aired a commercial during the Super Bowl that cost millions of dollars to place.

Article source: https://www.nytimes.com/2021/02/28/business/media/breastfeeding-ad-frida-golden-globes.html

Forget ‘Succession.’ You Can Watch ‘90 Day Fiancé’ for 100 Hours Straight.

Mr. Zaslav, too, is the last of his kind — the “last tycoon,” his old friend, the former HBO chief executive Richard Plepler, told me. He’s a relentless, fleece-vested mogul who likes to call reporters to talk his own book (and caught me on Tuesday morning in a moment of panic about what I would write this week). He likes to visit his stars at home, and to keep them close. He pals around with Disney’s former chief, Bob Iger, and Mr. Plepler, and others who rose by creating television and films. But those companies are now run by people who come out of other parts of the business — telecommunications or apps or theme parks. He’s a Hamptons mainstay who also holds an annual “boys’ dinner” for 50 of his closest male friends, including Apple’s content chief Eddy Cue and the Netflix co-chief executive Ted Sarandos, in Los Angeles. The dinner is held during a golf tournament to which Discovery holds the television rights.

The smooth start of Discovery+ comes as streamers closer to the heart of the media class are struggling. Apple’s service is off to a slow start. WarnerMedia’s HBO Max has been defined by stumbles. But Discovery remains in an odd position in the media business: The company, which is valued at more than $23 billion, is far smaller than the handful of dominant media and telecommunications conglomerates. But it is too big to be acquired by any but a few companies. There’s a running debate among those who know Mr. Zaslav about whether he’s buying or selling — that is, whether Discovery+ is another move to make the company more attractive for a giant to swallow before the bottom really falls out of the U.S. cable business or whether the company’s current high stock price will prompt Mr. Zaslav to acquire other businesses.

“He should use this opportunity to make his business stronger,” said Mr. Nathanson, the media analyst, who suggested that Discovery “buy CNN.”

Mr. Zaslav, who was involved in the creation of CNBC and MSNBC as an executive at NBC from 1989 to 2006, has begun to play in the global news business. Discovery is an investor in GB News, a right-of-center television challenger to the BBC. In Poland this year, the Discovery-owned channel TVN went dark along with other media outlets to protest the latest government attempt to hobble independent media. Mr. Zaslav said the investments in those channels were part of a strategy to sell streaming services as a bundle with news and sports.

But he said he hadn’t talked to CNN’s president, Jeff Zucker, an East Hampton golf partner, about buying the network from its parent company, ATT, and signaled that he was leery of the political charge that comes with top-shelf American cable news.

Article source: https://www.nytimes.com/2021/02/28/business/media/cable-tv-streaming-discovery.html

The Little Magazine That Incubated Team Biden

“There’s not much pizazz,” said Michael Tomasky, the journal’s editor since 2009.

But if The New Republic of the 1990s was “the in-flight magazine of Air Force One” during the Bill Clinton years, as it was described in the film “Shattered Glass,” then Democracy could play a similar role in the Biden era.

In a 2016 essay for Democracy, “Confronting the Pandemic Threat,” Ron Klain, Mr. Biden’s chief of staff, sounded a warning that now seems prescient. Jake Sullivan, the national security adviser, argued in a 2018 Democracy essay that, despite the anti-Washington rhetoric that had energized many voters in recent years, most Americans would welcome ambitious federal programs.

Cabinet-level officials from the administration of President Barack Obama have lately used Democracy as a medium for sending advice to their successors. The economist Jason Furman, the chairman of the Council of Economic Advisers under Mr. Obama, directly addressed Mr. Biden’s team members in an essay that adopted an older-sibling tone.

“No one needs to check anything with you or listen to you, let alone do what you say,” he wrote. “You do have one power: the opportunity to persuade. If people think you have some useful insights or inputs, might be right in what you say, and are generally a helpful member of the team, then you just might be able to shape some of the most important decisions the president will make and help to make positive policy happen.”

Under the last Democratic president, the journal helped make political careers. Elizabeth Warren, then a Harvard Law School professor, published an essay in the Summer 2007 issue arguing for the creation of a federal agency to regulate mortgages and credit cards. She later helped advise Mr. Obama as the idea was realized as the Consumer Financial Protection Bureau.

Article source: https://www.nytimes.com/2021/02/28/business/media/democracy-magazine-biden.html

How the Pandemic Stalled Peak TV

One reason for the drop is obvious: With productions shut down, new seasons could not be completed in time. But there was another reason, executives and agents said. When filming resumed, extensive safety protocols for actors and crews added roughly 30 percent to most production budgets, said Chris Silbermann, the chief executive of ICM Partners, a major Hollywood talent agency.

“Everyone saw these costs pulling through the system and realized, ‘Oh, no, we’re going to have to do less,’” Mr. Silbermann said. “Stuff that was on the bubble, a lot of that stuff just went away.”

The slowdown also meant a change in Hollywood negotiations.

“I am now having tough production budget conversations with the streamers that I used to have with NBC, CBS, ABC and Fox,” Mr. Silbermann said. “These are like old-school budget conversations.”

Several outlets fed the maw in another way, by turning to international programming. Netflix’s “Lupin,” a French thriller series, and “Call My Agent!” a French workplace dramedy, have connected with American audiences. Their success was part of a larger lockdown trend: The viewing of non-English-language titles by U.S. Netflix subscribers shot up more than 50 percent in 2020, a Netflix spokesman said.

“Every show in another language is immediately better for us, because you can’t be on your phone,” Ms. Paskin, the Slate critic, said. “It just makes you pay attention.”

To fill the void left by the lack of scripted fare, nearly all outlets have also turned to reality programs, documentary series and even game shows, all of which are cheaper to make. Broadcast networks have given prime-time hours to shows like “Celebrity Wheel of Fortune” and “The Price Is Right at Night.” The number of unscripted shows making their debuts in 2020 increased 19 percent over the previous year, Ampere said.

“Everywhere you look, there’s a game show,” said Mr. Roush, the TV Guide critic. He added that his readers had pestered him about the lack of new episodes of network standbys like “NCIS” and “Grey’s Anatomy.”

Article source: https://www.nytimes.com/2021/02/28/business/media/pandemic-streaming-tv-shows.html

Russia’s national payment system Mir to launch Apple Pay support

Users of Apple devices will be able to add Mir cards to their Apple Wallet, according to a letter sent by Russia’s national payment system (NSPK) to banks and lending agencies.

“We are working on bringing Apple Pay to our customers. More details will be announced later,” a representative of the National Payment Card System, which operates the Mir cards, told Russian business daily RBK.

Also on rt.com Russia’s national payment system MIR looks to expand to Europe

Apple Pay was launched in Russia in 2016, but the service hasn’t been available for Russian Mir cards that could be added to Samsung Pay, as well as to Mir Pay, developed by the Mir national payment system. Mir Pay is available on Android smartphones destined for sale in Russia.

Payment systems provide users with an opportunity to tie their bank cards to smartphones and pay for goods and services via contactless payment by tapping or hovering the device on or over the POS terminal’s sensor for a couple of seconds.

In 2020, Russia was ranked second in a global rating based on the number of Apple Pay users across the nation, outpaced only by the US.

Also on rt.com New Russian invasion? Coronavirus fallout fuels domestic e-commerce boom, with companies poised to expand across Europe

Russian banks, along with local technology giants, have started to launch their own payment services. Last summer, the biggest state-run lender Sberbank introduced the SberPay wallet for Android smartphones. The country’s biggest private bank Tinkoff Bank also announced plans to launch its own wallet. Yandex is reportedly also preparing to launch a contactless payment service.

Russia had to quickly develop its own card payment system Mir, which means “world” or “peace” in Russian, in 2014 after Washington and Brussels added several Russian banks and businesspeople to their sanction list. The step came as a part of anti-Russian penalties introduced after the country’s reunification with Crimea. Back then, the Western nations reportedly threatened to block transactions via US-based Mastercard and Visa.

Also on rt.com New Russian invasion? Coronavirus fallout fuels domestic e-commerce boom, with companies poised to expand across Europe

In 2020, NSPK, created and operated by the central bank of Russia, reported that the share of Mir cards in the country amounted to 30 percent. At the same time, the volume of transactions using the cards totaled 24 percent.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516802-apple-pay-accept-mir-cards/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Bitcoin’s record rally minting thousands of crypto millionaires…at least in virtual reality

Statistics also showed there are 8,214 accounts that own bitcoins valued at more than $10 million. That is 102,076 bitcoin accounts that can call themselves diamond hands, in the parlance of Redditors who refer to investment outperformance in that way. Also, 422,104 accounts can boast bitcoin accounts valued at more than $100,000.

The world’s largest cryptocurrency, bitcoin, broke above a $50,000 price milestone for the first time this month after Tesla announced a $1.5 billion bitcoin investment. Despite this week’s slide, bitcoin is up over 60 percent so far in 2021. 

Also on rt.com Bitcoin to top $100,000 this year as more companies adopt cryptocurrency, says investor Mike Novogratz

With a market cap of around $850 billion, bitcoin’s value is bigger than that of either Tesla or Facebook, and almost twice as large as Warren Buffett’s Berkshire Hathaway. In 2021 alone, bitcoin added over $400 billion to its market cap, outperforming most traditional assets.

The digital asset’s surge was driven by signs it is winning broader institutional acceptance as it attracted a number of high-profile Wall Street investors, including Stanley Druckenmiller and Paul Tudor Jones. Earlier this week, Jack Dorsey’s financial services company Square extended its bitcoin holdings by $170 million as part of an ongoing commitment to the cryptocurrency.

Also on rt.com Bitcoin at $50k is the BIGGEST BUBBLE of them all, says gold bug Peter Schiff

In another major step, America’s oldest bank, BNY Mellon, said it would transfer and issue bitcoin for its institutional clients. Credit card major Mastercard announced it will begin allowing clients to make payments in certain cryptocurrencies on its network this year. Visa also said it is considering allowing payments in crypto in countries where it is legal.

However, skeptics still say bitcoin’s rally is unsustainable and warn that the crypto market is another bubble ready to pop. JP Morgan recently called the token an “economic sideshow,” noting that mainstream adoption actually reduces the benefits of diversifying into bitcoin.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516539-bitcoin-rally-diamond-hands-millionaires/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Vaccine passports to bolster British economy and combat impacts of Covid-19 crisis – finance minister

Sunak said the documents would potentially allow people to visit venues or events, thus, helping the economy to get back on track after a series of lockdowns imposed to contain the pandemic dragged it into its steepest crash in 300 years.

“Obviously, it is a complicated but potentially very relevant question for helping us reopen those parts of our country like mass events,” Sunak said in an interview with the BBC on Sunday.

Also on rt.com Covid cases fall across UK to last October’s levels, statistics office reports

Last week, UK Prime Minister Boris Johnson said the government would discuss the scientific, moral, philosophical and ethical issues of introducing vaccine passports for immunized people, stressing that the move may help entertainment and hospitality venues to reopen. 

The UK’s mass vaccination program was launched on December 8. Over 19 million people have reportedly received at least one dose of a coronavirus vaccine as of February 27. British authorities expect the immunization campaign to help in easing the third national lockdown and protect the most vulnerable groups by spring.

Also on rt.com British pound extends relentless rally to multiyear highs amid hopes of economic recovery

Earlier this week, the UK Office for National Statistics (ONS) reported that Covid-19 levels have fallen across the UK to rates similar to mid-October 2020, with slightly more than 421,000 cases in the community for the week ending February 19.

The economy shrank 9.9 percent in 2020, the latest report by the ONS revealed earlier this month. Moreover, the UK was the first nation to face one of the new and more contagious variants of the coronavirus.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516804-uk-vaccine-passports-economy-sunak/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

The $7 TRILLION cost of upgrading the US power grid

We have just witnessed the damage caused by poorly designed energy grids—rolling blackouts, skyrocketing electricity prices, people sleeping in their cars and in one insulated room to keep warm. At the same time a weaponized right wing media swings into action blaming wind turbines and the green new deal for Texas’s energy woes. There is a pattern here. These are variants of stories told after California’s forest fires and resulting power outages. But we see no easy end of power outages that have plagued electricity supply in recent years while adverse weather events seem to get more frequent and impactful. (See Figure 1)

But this is the bottom line. In a way an electric system is like maintaining a car. Spend adequately on repairs maintenance etc. and reliable performance is reasonably assured. Or one could skimp repeatedly on maintenance, save a lot of money over the years and take one’s chances on vehicle reliability. The electric system in Texas was built it appears around the latter proposition. Their reserve margins are the lowest in the country (about eight percent). And this is the third time the electric system failed to perform adequately in winter (1989, 2011 and 2021). Our point here is that any system that consistently fails in this manner regardless of the governance regime is designed that way— despite claims and protests to the contrary. This is a big problem for any region because an increasingly digital economy requires highly reliable electricity service. And what is being provided at present in ERCOT is anything but.

Figure 1. Major disturbances and unusual occurrences on USA electric grids

RT

Now let’s add another ingredient to the mix. Automobile makers are in a very clear transition from internal combustion to electric vehicles. A key step we believe to decarbonize the economy. But first as a society we have to decarbonize our electricity supply, and then sell decarbonized electricity to the transportation sector (which plan, if successfully executed could reduce carbon emissions by 40 percent or more). 

But how will the electricity grid handle this incremental demand from the transportation sector well as the needs of existing customers under the increasingly stressful conditions imposed by climate change? One obvious answer: upgrade and expand. If the grid does not, outsiders — including industrial consumers acting to protect their individual electric supply — will.

We have previously written that decarbonizing and modernizing the US’s existing electricity plant (whose average age is 35 years) could cost $7-8 trillion. Electricity suppliers might need 20 years to complete the job, meaning $350-400 billion per year to get into shape. Currently, they spend about $150 billion per year which means a lot of catching up to do.

Also on rt.com Natural gas production plunged 45% during the Texas freeze

Those numbers look huge, but the actual payments will stretch out over decades like a mortgage. And financings of this magnitude will make little dent in US capital markets, where the electricity industry accounts for only 3-4 percent of total capital expenditures and financing. In order to pay for new equipment, without government subsidy, we calculate that electricity suppliers would have to raise prices by 3 – 4 percent per year in real terms. (Academic studies optimistically calculate no price increase under the right operating conditions.) The electric bill equals about two percent of the US’s gross domestic product and the household bill about two percent of household income. Paying for modernization and decarbonization together, spread over decades, would add about $45 each year to the average household electric bill. Not an enormous burden, and one that could be spread to mitigate financial hardship.

Admittedly, we should view long term projections with caution. Markets, technology, institutions and solutions change over time. What the numbers show, at best, is that the electric industry can finance modernization and decarbonization without placing undue burdens on consumers. That should be enough to encourage faster action.

What will encourage the industry to raise the ante? Legislation in Congress reprises Obama administration policies: a mix of emissions restrictions, generous tax handouts and regulatory incentives. The industry pushed back then and might do so again, considering that the courts have become friendlier to business. Overall, greenhouse gas emissions per kwh generated fell about two percent per year during the Obama presidency and three percent per year during Trump’s term, largely for economic reasons. Generators shifted from burning coal (high carbon content) to natural gas (lower carbon content) because gas was cheaper. In order to approach zero in 20 years, greenhouse gas emissions per kwh must fall more than ten percent a year.

Also on rt.com Four board members of Texas grid operator RESIGN over blackouts during deadly winter storm

We believe that policy makers would accelerate decarbonization and modernization of the electricity sector by making it a business opportunity for electric companies to embrace rather than as an environmental compliance problem, using tried and true components such as securitization to pay for the most polluting regulated power stations if retired promptly, granting higher returns on assets that support decarbonization, and a bonus to electric companies for the fossil-free electricity that they produce or deliver. Add a Federal guarantee for the securitization bonds or any other deferrals designed to smooth the price impact of the capital program, and that will lower costs to consumers at practically no cost to the government.

(For details of proposed policies, see blog page, lenhyman.com.) Businesspeople do not oppose or stall policies that might raise their profits.

We can’t argue that with the notion that recent polar vortex events or summer wildfires reveal serious shortfalls in electricity regulation, governance and market structure. And this includes lack of financial accountability. But from an operating perspective we also see inadequate reserve capacity, plants in the wrong place or unable to stand up to severe weather. Combine those inadequacies with the need to decarbonize, and it all adds up to a lot of capital spending. Even if the energy market decentralizes—we would think the ERCOT disaster drives people away—some public or private corporation has to spend money for a modernized electricity grid. And needless to say energy consumers will eventually pay. However the good news is if we start this massive grid redesign and rebuilding process now at least the cost of money is very low.

By Leonard Hyman and William Tilles for Oilprice.com

Article source: https://www.rt.com/business/516669-us-power-grid-upgrading-cost/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

China’s economy could double in size by 2035, eclipsing US along the way – Bank of America

She told CNBC that some reform measures would help China get there. The doubling of China’s GDP would require an average annual growth of 4.7 percent for the next 15 years. “We think China would be able to achieve it,” Qiao said.

The economist predicted that, in addition to doubling its gross domestic product, the Asian nation will surpass the United States as the world’s largest economy in around 2027 to 2028.

Also on rt.com China partners with SWIFT to boost global use of yuan cut reliance on US dollar

The Chinese economy expanded by 2.3 percent last year, official data showed. The International Monetary Fund (IMF) has said China will grow 8.1 percent this year. Meanwhile, the United States contracted by 3.5 percent in 2020, according to the latest government estimates. The IMF expects the US economy to grow by 5.1 percent this year.

In a report published earlier this month, Qiao addressed the common concerns – such as aging population, high debt-to-GDP ratio, and the country’s investment-led growth model – that could prevent China from reaching its 2035 economic goals. Those concerns will slow, but not derail, China’s overall growth trajectory, Qiao said.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/516624-china-economy-double-surpass-us/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Golden Globes 2021: What to Watch For

LOS ANGELES — “Mank,” David Fincher’s black-and-white tale of Old Hollywood, is nominated for six trophies at Sunday’s Golden Globe Awards, the most of any film. It has been available for viewing on Netflix since Dec. 4.

Seen it yet?

That’s OK. Neither have a lot of people in Hollywood.

What about “The Father,” about the devastation of dementia? It is a contender for best drama and three other prizes. Or perhaps “The Mauritanian,” set at Guantánamo and vying for two Globes in acting categories? Or the twice-nominated “Judas and the Black Messiah,” about Black political radicals in the 1960s? It actually received a national release in theaters (about 1,900 of the operating ones) this month.

Seen any of them?

Well, I don’t know what to tell you. Pretend like you have at least heard of a couple.

In a year when almost all of the nominated films have bypassed theaters because of the pandemic, the Globes — the biggest-tent awards show there is, given its dual focus on film and television — may feel rather small. Nominees have struggled to get noticed. For many people, including some in Hollywood, it is hard to care about little golden thingamabobs at a time when the coronavirus is still killing roughly 2,000 Americans on most days.

Article source: https://www.nytimes.com/2021/02/27/movies/golden-globes.html