Dow Jones Futures Fall: Apple Hits New Buy Point; 4 Tech Giants In Or Near Buy Zones

Dow Jones futures, along with S&P 500 and Nasdaq 100 futures, were lower early Wednesday after the stock market rally set more record highs. Dow Jones leader Apple hit a new buy point, while Tesla neared all-time highs. Chinese EV leaders Nio and Xpeng Motors dived over 10% each, while Nikola plunged nearly 15%.

Tech giants Advanced Micro Devices, Facebook, PayPal and Taiwan Semiconductor are in or near buy zones.


The Dow Jones Industrial Average advanced 0.6%, or 185 points. The S&P 500 rallied 1.1%, while the tech-heavy Nasdaq composite moved up 1.3%. The S&P 500 and Nasdaq notched more all-time highs.

Among the Dow Jones leaders, Apple (AAPL) rose 3.1%, while Microsoft (MSFT) advanced 1%.

Dow Jones stock (CRM) tumbled after reporting earnings and announcing the acquisition of Slack Technologies (WORK) late Tuesday. Meanwhile, Veeva Systems (VEEV) topped Q3 estimates late, but shares fell over 2.5%.

Tesla (TSLA) advanced 3% on S&P 500 addition news and is just shy of Monday’s record high. Chinese EV leaders Nio (NIO) and Xpeng Motors (XPEV) dived despite reporting strong monthly delivery numbers. Meanwhile, Li Auto (LI) is expected to report monthly figures this week as well.

Stocks in or near buy zones in the stock market rally are Advanced Micro Devices (AMD), Facebook (FB), PayPal (PYPL) and Taiwan Semiconductor (TSM).

Apple, Microsoft, PayPal and Tesla are IBD Leaderboard stocks. AMD and Facebook were featured in this week’s Stocks Near A Buy Zone column.

Dow Jones Futures Today

Early Wednesday, Dow Jones futures fell 0.4% vs. fair value, while S&P 500 futures moved down 0.2%. Nasdaq 100 futures traded down 0.1% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Among exchange traded funds, Innovator IBD 50 (FFTY) rose 0.8% Tuesday. The Nasdaq 100-linked Invesco QQQ Trust (QQQ) ETF traded up 1.3%. Meanwhile, the SPDR S&P 500 ETF (SPY) climbed 1.1%.

Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 37.7% for the year through Tuesday’s close. Meanwhile, the S&P 500 is up 13.4%, while the DJIA is up 4.5% year to date, through the Dec. 1 close.

U.S. Stock Market Today Overview

IndexSymbolPriceGain/Loss% Change
Dow Jones(0DJIA)29823.52+184.88+0.62
S&P 500(0S&P5)3662.41+40.78+1.13
Nasdaq(0NDQC )12355.11+156.37+1.28
Russell 2000 (IWM)182.63+1.61+0.89
IBD 50 (FFTY)39.82+0.32+0.81
Last Update: 4:48 PM ET 12/1/2020

Coronavirus Updates

According to the Worldometer data tracker, the cumulative number of confirmed coronavirus cases in the U.S. topped 14 million on Tuesday. Total virus-related deaths rose past 276,000.

The cumulative total of worldwide Covid-19 cases confirmed since the start of the outbreak topped 64 million Tuesday, with more than 1.48 million virus-related deaths.

Coronavirus Stock Market Rally

November became a key month for the stock market, after IBD’s The Big Picture noted the market had returned to a new uptrend following a bullish follow-through day on Nov. 4.

Monday’s Big Picture commented, “So, technically speaking, the S&P 500 added a fresh distribution day to its count over the past 25 trading sessions. Yet it’s far more meaningful to compare Monday’s turnover with other full-day trading sessions in recent days.”

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Dow Jones Earnings: Salesforce

Dow Jones stock Salesforce reported better-than-expected Q3 results late Tuesday.

The company also announced the acquisition of Slack Technologies in a deal valued at $27.7 billion. Salesforce will use a combination of cash and stock to pay for the deal: For one share of Slack, Slack shareholders will receive $26.79 a share and .0776 shares of Salesforce.

Salesforce stock tumbled more than 4% in extended trade.

The cloud software company is the No. 2-performing stock on the Dow Jones Industrial Average, advancing 48.4% year to date.

Apple Stock Hits New Buy Point

Dow Jones stock Apple broke out above an aggressive entry at 122.09. Shares rallied 3.1% Tuesday and are just above the early entry. Another aggressive entry exists at 125.49 while the conventional buy point, for now, is 138.08, according to MarketSmith chart analysis.

The blue-chip giant is the No. 1-performing Dow Jones stock for 2020, with a 66.6% advance through Tuesday.

Stocks In Or Near Buy Zones: AMD, Facebook, PayPal, TSMC

Friday’s IBD Stock Of The Day, Advanced Micro Devices, is in the 5% buy zone above an 88.82 buy point in a double bottom, according to MarketSmith chart analysis. Shares eased less than 0.1% Tuesday. The 5% buy area goes up to 93.26.

According to IBD Stock Checkup, AMD stock boasts a perfect 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.

FANG stock Facebook continues to trace a cup with handle, which shows a 297.48 buy point. Shares rallied 3.5% to move within 4% of the entry. A key flaw is the stock’s lagging RS line. It remains far from its old highs despite Tuesday’s advance.

PayPal broke out and closed in the 5% buy zone above a 215.93 buy point in a cup base. Shares gained 1.1% Tuesday. The buy zone tops out at 226.73.

Taiwan Semiconductor tried to break out past a new 102.54 buy point Tuesday, but closed about 2% below the entry. Shares briefly cleared a buy point in a rare ascending base.

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Nikola Stock

Nikola plunged for a fourth straight session Tuesday, plunging nearly 15%. The stock closed more than 80% off its 52-week high. This week, the stock is already down 37.8%.

On Monday, Nikola scrapped plans to build the Badger electric pickup truck in a drastically scaled-down partnership deal with General Motors.

Nio, Xpeng Tumble; Li Auto Deliveries On Tap

Early Tuesday, Chinese EV leaders Nio and Xpeng reported monthly delivery numbers. Monthly figures from Li Auto are expected later this week as well.

Nio delivered 5,291 electric vehicles in November, up 109% vs. a year earlier. The Chinese Tesla rival tumbled 10.2%, adding to Monday’s 6.4% skid.

Xpeng Motors delivered 4,224 electric vehicles, up 342% vs. a year earlier. The company’s smart sports sedan, the P7, led the gains. The P7 competes against the made-in-China Tesla Model 3.

Shares dived nearly 11%, following Monday’s 8.6% fall, and are about 30% off their 52-week high.

Li Auto stock fell 3.1% Tuesday, ending more than 25% off its 52-week high. Shares remain well above a 21.96 buy point in a cup with handle.

Tesla Stock

IBD Leaderboard stock Tesla advanced 3% Tuesday after the S&P Dow Jones Indices decided to add the stock to the S&P 500 index in a single step. Tesla stock will join the S&P 500 before the open on Dec. 21.

On Nov. 18, shares broke out above a 466 buy point in an awkward cup with handle and are already more than 20% from the buy point. On Monday, Tesla stock set a record high at 607.80 before reversing lower.

Stock Market Earnings: Veeva Systems

Veeva Systems reported third-quarter results late Tuesday above Wall Street estimates. The company reported adjusted earnings of 78 cents per share on revenue of $377.5 million. Wall Street expected earnings of 68 cents on revenue of $361.9 million.

Shares fell about 2.5% in extended trade. The stock is tracing a short cup base with a 314.09 buy point.

Dow Jones Leaders: Microsoft

Among the top Dow Jones stocks, software giant Microsoft moved up 1% Tuesday. Shares are moving further above the 50-day support level.

Year to date, Microsoft is one of the top Dow Jones stocks, advancing 35.7% through the Nov. 30 close.

Stock Market Rally: What To Do Next

Investors should continue to use the stock market’s strength to buy breakouts. Be patient and wait for powerful breakouts instead of chasing extended stocks. If new breakouts work, then add more exposure. But if breakouts start to fail, then you can back away.

In particular, focus on stocks with strong relative strength. Find them by using the relative strength line. The RS line measures a stock’s price performance vs. the S&P 500. If the stock is outperforming the broader market, then the RS line angles upward. If a stock is performing worse than the broad market, then the line will point lower.

Stocks to watch include IBD Long-Term Leaders, companies with stable earnings growth and price performance. Fair Isaac (FICO) is the most recent addition to the list, added on Nov. 13. Shares are extended after they cleared resistance around 450.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones futures.


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How COVID-19 has changed online shopping forever – Ecommerce, Tech

The pandemic has accelerated the shift towards a more digital world and triggered changes in online shopping behaviours that are likely to have lasting effects.

The COVID-19 pandemic has forever changed online shopping behaviours, according to a survey of about 3,700 consumers in nine emerging and developed economies.

The survey, entitled “COVID-19 and E-commerce”, examined how the pandemic has changed the way consumers use e-commerce and digital solutions. It covered Brazil, China, Germany, Italy, the Republic of Korea, Russian Federation, South Africa, Switzerland and Turkey.

Following the pandemic, more than half of the survey’s respondents now shop online more frequently and rely on the internet more for news, health-related information and digital entertainment.

Consumers in emerging economies have made the greatest shift to online shopping, the survey shows.

The COVID-19 pandemic has accelerated the shift towards a more digital world. The changes we make now will have lasting effects as the world economy begins to recover.

UNCTAD Secretary-General Mukhisa Kituyi.

He said the acceleration of online shopping globally underscores the urgency of ensuring all countries can seize the opportunities offered by digitalization as the world moves from pandemic response to recovery.

Online purchases rise but consumer spending falls

The survey conducted by UNCTAD and Netcomm Suisse eCommerce Association, in collaboration with the Brazilian Network Information Center ( and Inveon, shows that online purchases have increased by 6 to 10 percentage points across most product categories.

The biggest gainers are ICT/electronics, gardening/do-it-yourself, pharmaceuticals, education, furniture/household products and cosmetics/personal care categories (Figure 1).

Figure 1: Percentage of online shoppers making at least one online purchase every two months

Source: UNCTAD and NetComm Suisse eCommerce Association

However, average online monthly spending per shopper has dropped markedly (Figure 2). Consumers in both emerging and developed economies have postponed larger expenditures, with those in emerging economies focusing more on essential products.

Tourism and travel sectors have suffered the strongest decline, with average spending per online shopper dropping by 75%.

Figure 2: Fall of average online spending per month since COVID-19, per product category

Figure 2 Fall of average online spending per month since COVID-19, per product category
Source: UNCTAD and NetComm Suisse eCommerce Association

“During the pandemic, online consumption habits in Brazil have changed significantly, with a greater proportion of internet users buying essential products, such as food and beverages, cosmetics and medicines,” said Alexandre Barbosa, manager of the Regional Center of Studies on the Development of Information Society ( at the Brazilian Network Information Center (

Increases in online shopping during COVID-19 differ between countries, with the strongest rise noted in China and Turkey and the weakest in Switzerland and Germany, where more people were already engaging in e-commerce.

The survey found that women and people with tertiary education increased their online purchases more than others. People aged 25 to 44 reported a stronger increase compared with younger ones.

In the case of Brazil, the increase was highest among the most vulnerable population and women.

Also, according to survey responses, small merchants in China were most equipped to sell their products online and those in South Africa were least prepared.

“Companies that put e-commerce at the heart of their business strategies are prepared for the post-COVID-19 era,” said Yomi Kastro, founder and CEO of Inveon. “There is an enormous opportunity for industries that are still more used to physical shopping, such as fast-moving consumer goods and pharmaceuticals.”

“In the post-COVID-19 world, the unparalleled growth of e-commerce will disrupt national and international retail frameworks,” said Carlo Terreni, President, NetComm Suisse eCommerce Association.

“This is why policymakers should adopt concrete measures to facilitate e-commerce adoption among small and medium enterprises, create specialized talent pools and attract international e-commerce investors.”

Digital giants grow stronger

According to the survey, the most used communication platforms are WhatsApp, Instagram and Facebook Messenger, all owned by Facebook.

However, Zoom and Microsoft Teams have benefitted the most from increases in the use of video calling applications in workplaces.

In China, the top communication platforms are WeChat, DingTalk and Tencent Conference, the survey shows.

Changes are here to stay

The survey results suggest that changes in online activities are likely to outlast the COVID-19 pandemic.

Most respondents, especially those in China and Turkey, said they’d continue shopping online and focusing on essential products in the future.

They’d also continue to travel more locally, suggesting a lasting impact on international tourism.

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EU seeks anti-China alliance on tech with Biden – POLITICO

Europe on Monday proposed teaming up with incoming U.S. President Joe Biden to squeeze China out of the global technology trade. 

Exhausted by four years of trade tensions on two fronts, fighting against both U.S. President Donald Trump on one flank and Beijing on the other, Europe is trying to seize an early initiative ahead of Biden’s inauguration on January 20 by rolling out geostrategic plans for closer transatlantic cooperation.

At a closed-door meeting to discuss Europe’s strategy, Sabine Weyand, Brussels’ top trade bureaucrat, told lawmakers from the European Parliament that the European Commission would propose a “Transatlantic Trade and Technology Council” to set joint standards on new technologies, according to two people in the room.

This would target one of the big objectives of both the Europeans and Americans: Preventing China from establishing economic dominance across a number of high-value sectors by developing its own widely used technological and industrial standards.

A Commission paper to EU countries mapping out a strategy for a transatlantic alliance against Beijing also mentioned that proposal.

“The EU is proposing to establish a new EU-U.S. Trade and Technology Council (TTC),” the paper read.

“The aim will be to … strengthen our technological and industrial leadership and expand bilateral trade and investment. It will focus on reducing trade barriers, developing compatible standards and regulatory approaches for new technologies … As part of this, there should be … closer cooperation on … investment screening, Intellectual Property rights, forced transfers of technology and export controls.”

Valdis Dombrovskis, the EU’s super-commissioner for economy and trade, first floated the plan at a meeting with EU trade ministers this month, where he said the EU and U.S. should “cooperate on new technologies and digital services and be aligned on regulation and standards.”

EU officials said the plan was to resuscitate those parts of the failed Transatlantic Trade and Investment Partnership (TTIP) negotiations that focused on regulatory cooperation on emerging technologies such as artificial intelligence and self-driving cars, where both Washington and Brussels fear that China stands to become the global standard setter.

One senior Commission official described the tech alliance as a “low-hanging fruit,” since the EU and U.S. had already planned to establish a joint committee that would coordinate regulations on future technologies as part of their frozen negotiations on their earlier TTIP mega deal. “It’s very hard to align rules on products that already exist, but it is fairly easy to do it on emerging technologies,” the official said.

Both Weyand and the other senior official argued a resumption of TTIP negotiations was not back on the cards, both because of fierce public opposition to the deal and because negotiations had become stuck over things like EU protections for agriculture and U.S. public procurement discrimination with the Buy America Act, which Biden has said he wants to ramp up rather than dismantle.

But the thinking in Brussels now is that disagreements on chemical rinses for chicken and public infrastructure contracts should not hinder the EU and U.S. from working on joint rules for technologies like next-generation wireless networks.

As part of that new “positive agenda,” Brussels would also seek to set common rules on industrial subsidies and investment screening, while working with Washington to reform the World Trade Organization, the senior Commission official said.

Much will depend, however, on the overarching political atmosphere between Brussels and Washington, which could well sour over what the U.S. sees as unfair regulatory action against its biggest digital champions, both in terms of competition cases and tax.

Diplomats from EU countries will on Tuesday discuss the Commission plan along with proposals to work more closely on coronavirus vaccine distribution, climate change, and foreign policy, including a proposed “Summit of Democracies” that the EU wants to organize with the U.S. next year, according to one of the diplomats.

Jacopo Barigazzi and Barbara Moens contributed reporting.

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3 Can’t-Go-Wrong Tech Gifts That Everyone on Your List Will Love

This article was produced in partnership with Western Digital.

Gift cards? A knitted scarf? Another pair of socks? Sometimes it’s hard to think beyond the usual suspects when shopping for gifts, but don’t fall into the same old rut this holiday season. Instead, give the socks a rest and go with something that your friends and family will use every day: some high-quality, always handy digital storage.

Allow us to make your holiday shopping just a little bit easier. The picks below from Western Digital run the gamut from gaming to personal cloud storage, so no matter who you’re shopping for, you’ll find something they’ll love.

Best for Photographers

Courtesy Image

The SanDisk Extreme Portable SSD packs a hefty amount of memory into a portable, ultra-tough package. This external solid state drive offers up to 2TB of storage space and features blazing fast 1050 MB/s read and 1000 MB/s write speeds for lightning-quick file transfers. It also includes password protection and 256-bit AES encryption to keep your data safe from prying eyes. On top of all that, it’s built for adventure: The drive is IP55-rated for water and dust resistance, and it comes surrounded with a durable silicone shell. It even has a built-in carabiner loop for strapping onto a backpack. For the photographer or content creator whose typical workday takes place in the wild, this is a must-have.

Best for Gamers

tech gifts
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Gaming can put a heavy burden on a computer, especially a laptop, but you can lighten the load with the WD_BLACK D50 Game Dock NVMe SSD, sleek game dock equipped with RGB lighting that also serves as an external drive. It includes up to 2TB of capacity to store all your favorite games, and comes with Thunderbolt, USB-C, USB-A, ethernet, and audio ports to connect all your gaming accessories—all powered by a single Thunderbolt 3 cord to minimize clutter. With read and write speeds up to 3000 and 2500 MB/s, respectively, it’ll minimize load times and help create seamless gameplay. And with its 5-year warranty, you’ll have a gaming setup that’ll last for years to come.

Best for Everyone Else

tech gifts
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Organizing your closet is hard, but when’s the last time you organized your digital life? The My Cloud Home makes it easy. This personal cloud storage device plugs directly into a Wi-Fi router and allows you to save, view, and share photos, videos, and files from all of your devices. Once uploaded, you can access that data from anywhere just by pulling up the My Cloud Home app—and there’s no subscription fee, either. Setup is a cinch (you can do it right from your phone) and a built-in USB port allows you to backup files from all those thumb drives you have lying around. With up to 8TB of storage available, you can back up a whole family’s worth of files.

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Emirati Al-Dahra to bring Israeli Watergen’s Water Making Tech To The Gulf – Jewish Business News

Emirati Al-Dahra to bring Israeli Watergen’s Water Making Tech To The Gulf

Watergen can turn the water vapor in humidity into drinking water.

Emirati Al-Dahra with Michael Mirilashvili CEO of Watergen/ PR

Israel’s Watergen , a company which turns humidity in the air into drinking water, has entered into a strategic partnership  agreement with the Emirati company Al-Dahra to bring Watergen’s new tech to the UAE and other countries in the region.

Have you ever seen all the water that drips out of an air conditioner. That’s from the water vapor which is taken out of the air as its cooled. Now think about collecting all of that water from the humidity to just water your plants or clean the floor. That’s Watergen, only it develops mobile devices for use outdoors.

Leave it up to Startup Nation to come up with new ways to solve the world’s water shortage crisis. Desert countries like Israel are always in need of new sources of fresh drinking water. While recent years of plentiful rain have seen the Sea of Galilee’s levels rise, there is still a likelihood of a return of many years of continuous drought.

Drought has been a serious problem worldwide with Southern California’s underground water sources practically all dried up. And, of Course, the UAE and the entire Arabian Peninsula is one big desert with a need for more drinking water.

The agreement was signed last Wednesday in Abu Dhabi by Watergen’s president and CEO, Dr. Michael Mirilashvili, and HE Khadim Al Darei, vice chairman and co-founder of Al-Dahra. This new partnership will cover many sectors, including agriculture, offices and apartment buildings, hotels, and more. The agreement comes on the heels of a memorandum of understanding (MOU) signed in Israel in October by the two firms at the time of a visit by a high-ranking delegation of Al-Dahra executives in Israel.

“From the moment that we signed this agreement, it has shown how important the signing of the Abraham Accords was and the tremendous wisdom of our leaders in making this breakthrough for our region and the world. Though I had other plans, as soon as I learned of the accords I rushed here in order to show the world the tremendous impact and importance of this historic step. With this agreement, were showing our two nations, the region, and the world, what is possible with peace” says Dr. Mirilashvili. 

Watergen in Guatamala

Watergen, an innovative Israeli company that has developed a unique cutting-edge patented technology  which enables to generate clean drinking water from the air we breathe using cost-effective energy consumption. Watergen’s impact is in creating both an additional clean drinking water source and accomplishing it in the most economically efficient manner. High temperatures and humidity of Emirates’ air are ideal conditions for Watergen’s large-scale water from air devices which can produce up to 5,000 liters of clean drinking water per day.

Al-Dahra is an Abu Dhabi based multinational company, one of the leaders in agribusiness, specializing in the cultivation, production, and trading of animal feed and essential food commodities and end-to-end supply chain management. Serving a large customer base spanning the government  and commercial sectors, Al-Dahra has a widespread geographic footprint, with a workforce of 5,000 employees, operating in over 20 countries and catering to more than 45 markets, with a leading position in Asia and the Middle East. The group manages and operates a land bank in excess of 400 thousand acres of land with 1,200 pivots and a fleet comprising more than 2,000 farming assets.

Read more about: startup nation, Watergen

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Soldiers could one day ‘communicate through brainwaves’, say researchers | Science & Tech News

A breakthrough in decoding brain signals could be the first step towards soldiers communicating without having to speak aloud during military operations.

New research has “successfully” separated brain signals that influence behaviour and actions from those that do not, according to the publication C4ISRNET, which covers emerging trends in military warfare technology.

Funded by the US Army Research Office, the study used an algorithm and complex mathematics to identify which brain signals were directing movement, or behaviour-relevant signals, and then were able to remove those signals from the other more stagnant brain signals unrelated to behaviour.

In the experiment, researchers monitored a monkey’s brain signals as it was repeatedly reaching for a ball.

“Here we’re not only measuring signals, but we’re interpreting them,” Hamid Krim, a programme manager from the Army Research Office, told the outlet.

Researchers are keen to further develop their findings to the point a machine could provide feedback to soldier’s brains, giving them the opportunity to take “corrective action” before something happens – a feature that could one day protect the health of service people.

One example of this is the machine calculating whether a soldier’s brain is stressed or tired – before the brain sends the signals that makes them aware that they are, so they can take a break without overtiring.

Mr Krim said that the only limit to the possibilities “is the imagination”.

He added that, building on the findings, another potential benefit to the military could be that the brain and computers communicate through the brain signals – allowing soldiers to silently talk through their brainwaves while in the field.

Mr Krim said that, in the field, you could have two people talking to each other without “even whispering a word”.

He said: “So you and I are out there in the theatre and we have to… talk about something that we’re confronting.

“I basically talked to my computer – your computer can be in your pocket, it can be your mobile phone or whatever – and that computer talks to… your teammate’s computer.

“And then his or her computer is going to talk to your teammate.”

However, Mr Krim said he thought the development was “likely decades away”.

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New UK tech regulator set to limit power of Google and Facebook

A new tech regulator will work to limit the power of Google, Facebook and other tech platforms, the government has announced, in an effort to ensure a level playing field for smaller competitors and a fair market for consumers.

Under the plans, the Competition and Markets Authority (CMA) will gain a dedicated Digital Markets Unit, empowered to write and enforce a new code of practice on technology companies which will set out the limits of acceptable behaviour.

The code will only affect those companies deemed to have “strategic market status”, though it has not yet been decided what that means, nor what restrictions will be imposed.

The business secretary, Alok Sharma, said: “Digital platforms like Google and Facebook make a significant contribution to our economy and play a massive role in our day-to-day lives – whether it’s helping us stay in touch with our loved ones, share creative content or access the latest news.

“But the dominance of just a few big tech companies is leading to less innovation, higher advertising prices and less choice and control for consumers. Our new, pro-competition regime for digital markets will ensure consumers have choice, and mean smaller firms aren’t pushed out.”

The government’s plans come in response to an investigation from the CMA which began as a narrow look at the digital advertising industry, but was later broadened out to cover Google and Facebook’s dominance of the market. The code will seek to mediate between platforms and news publishers, for instance, to try to ensure they are able to monetise their content; it may also require platforms to give consumers a choice over whether to receive personalised advertising, or force them to work harder to improve how they operate with rival platforms.

Andrea Coscelli, the chief executive of the CMA, welcomed the move. “Only through a new pro-competition regulatory regime can we tackle the market power of tech giants like Facebook and Google and ensure that businesses and consumers are protected.

“We will soon be providing advice to government on how this new regime should work, as requested earlier this year, and stand ready to support the setup of the Digital Markets Unit.”

Oliver Dowden, the digital secretary, said: “There is growing consensus in the UK and abroad that the concentration of power among a small number of tech companies is curtailing growth of the sector, reducing innovation and having negative impacts on the people and businesses that rely on them. It’s time to address that and unleash a new age of tech growth.”

But in trying to impose strict terms on multinational companies, the UK may have an uphill battle on its hands. In France, for instance, digital tax payments levied on big tech have been seen by the US government as unfair discrimination, leading to threats of retaliatory tariffs on French goods such as handbags and cosmetics.

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SavorEat Scores More Than $13 Million in First Ever Food Tech IPO On Israeli Exchange – Jewish Business News

SavorEat Scores More Than $13 Million in First Ever Food Tech IPO On Israeli Exchange

The funds brought in give SavorEat a $51 million valuation.

SavorEat Team (LinkedIn)

Israeli food-tech startup SvaorEat brought in NIS 42.6 million (about $13 million) in an IPO on the Tel Aviv Stock Exchange (TASE). This was the first time that a food-tech firm went public on the Israeli exchange.

The IPO was led by Psagot Provident and conducted by Leumi Partners Underwriters and gave SavorEat a valuation of $51 million. This would be amazing for any company which to date had only $3 million in investments and is only two years old as is true with SavorEat.

SavorEat boasts that it is all about creating the perfect plant-based products. It states that its meatless product is “created and cooked by a robot chef according to your exact preference, all at the touch of a button. Sounds futuristic? It’s already here.”

Statup Nation is no stranger to the development of eco-friendly vegetarian foods. Its local companies like Tivall have offered the local consumers such products for decades. But these are plant based alternatives usually made with soy products.

But there now seems to be an explosion of local Israeli firms working on other types of meat and poultry alternatives made from vegetables or cloned animal cells.

Aleph Farms cultivates steaks directly from the cells of a living animal. And is even trying to grow its product in space. Zero Egg produces an egg alternative made from plants for foodservice and food manufacturers. The company asserts that its product tastes, looks, and functions like a real egg. And SuperMeat offers vegetarian chicken meat grown directly from chicken cells.

In a time when environmentalists point out the hidden costs of worldwide meat consumption, companies like Meat-Tech are finding solutions. The expansion in beef and poultry production has had the unintended consequence of adding to world pollution.

This new type of “fake” meat harms no animals. And it is also great for Jews who keep kosher which means no mixing of any dairy with meat and poultry. This machine-made meat is not considered to be real meat for the purpose of kashrut and as such may be mixed with dairy.

Founded just two years ago by its chief scientist Oded Shosayev,company CEO Racheli Vizman and Ido Braslevsky, SavorEat develops meat replacing products which it says can recreate the unique experience, taste and texture of meat in a convenient way and without a single animal. The product is made through a combination of the company’s proprietary 3D printing technology, automatic cooking machine and unique plant-based ingredients that allow the creation of a variety of textures and designs that characterize meat.

In addition, SavorEat’s solution offers the ability to cook or grill the product during the printing process and the ability to personalize the dish to fit consumer’s specific diet, lifestyle or medical condition.

Read more about: Aleph Farms, SavorEat, Statup Nation, SuperMeat, TASE, Zero Egg

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3 ways manufacturing will rebound with tech in 2021

When an economy begins to grind, manufacturing gets the full, immediate brunt of the slowdown.

A PwC study of CFOs found that 80% of those in manufacturing expect the pandemic will have a financial impact on their business. For other cross-industry companies, it’s around 48%.

Manufacturing is affected so badly for two reasons: First, many manufacturing jobs are on-site and cannot be carried out remotely. Second, slowed economic activity has reduced demand for industrial products in the US and globally.

Employing 13 million workers in the US, damage to this part of the economy is severe.

After the 2008 financial crisis, a return to pre-recession levels took the industry several years, if not longer.

But the journey ahead following a worldwide pandemic promises a longer, tougher slog.

And while companies may have more cash and equity available than they did a decade ago, simultaneous shock on both the supply- and demand-side due to global shutdowns have led to deep slumps and a turbulent up-and-down recovery to come.

In the face of this drawn-out crisis, safeguarding the health of the workforce is a number priority, but this means plant closures, which could continue for prolonged periods in the worst-hit areas.

How manufacturing will invest in tech post-Covid-19

For many businesses prone to a viral outbreak, now is the time to invest in new technologies that can enable business continuity and agility in a period of uncertainty — and ultimately resilience to future crises.

With that in mind, Rafi Billurcu, Partner, Head of Manufacturing at Infosys Consulting, pointed to three ways that manufacturers might adopt technology to enable a faster recovery as we head into 2021.

Remote working will put robots to work

Manufacturing firms will increasingly look towards technologies that enable the remote operation of facilities, meaning they can run with fewer human staff on-site.

“The application of automation and other Industry 4.0 technologies such as AR, VR, and analytics can ensure efficiencies are achieved with minimal impact, impacting both the top and bottom line of organizations,” said Billurcu.

Teleoperation is fast becoming the norm in many sites, with machinery like forklifts being operated from a remote location. Specialists can join in-the-field operators remotely via AR headsets across multiple locations without the need to be there physically.

“[…] remote working and automation will provide manufacturing organizations with better access to talent pipelines irrespective of geographical location – something that is becoming increasingly important in an age of digital skills post-pandemic.”

5G’s time to shine

The development of Industry 4.0 has slowed somewhat in specific verticals, due to the economic impact of the pandemic deterring some manufacturers from investing in new technologies. In 2021, however, we’ll see things speeding up again as the industry tries to get back to pre-COVID levels.

“From big data analytics to connected devices, 5G, in particular, will provide the key building block to next-generation factories, providing the ultra-reliable low latency connectivity on which Industry 4.0 depends,” said Billurcu.

Thanks to the speed and reliability of networks provided by 5G, manufacturers will be able to move closer to their vision of the smart factory, realizing the full potential of disruptive technologies and digital.”

‘Black swan’ events bring predictive technologies

“2020 has been a major learning experience for the manufacturing industry, and a key lesson from the coronavirus crisis is to think of risk as inevitable,” said Billurcu.

Next year, we’re likely to see increased adoption of artificial intelligence (AI) within manufacturing and supply chains to better predict risks and solve them quickly.

“The use of AI tools will help bring automated insights in a fraction of a second – insights like how to manage the logistics network, how to re-route the fleet, and how to make a delivery happen,” Billurcu said.

“There will also be greater uptake in other digital technologies like 3D printing and blockchain, as organizations look to better prepare themselves in anticipation of future, similar black swan events.”

Innovation from a crisis

It’s hard to overstate the impact COVID-19 has had and will to continue to have, on the economy, industry, and livelihoods. If there’s a crumb of comfort, it’s that the crises of the past have left long-lasting legacies of technological innovation.

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France starts collecting tax on tech giants – TechCrunch

France is going forward with its plan to tax big tech companies. The government has sent out notices to tech giants, as reported by the Financial Times, Reuters and AFP. There could be retaliation tariffs on French goods in the U.S.

For the past couple of years, France’s Economy Minister Bruno Le Maire has been pushing hard for a tax reform. Many economy ministers in Europe think tech companies aren’t taxed properly. They generate revenue in one country, but report to tax authorities in another country. They take advantage of countries with low corporate tax to optimize the bottom line.

Le Maire first pitched the idea of a European tax on big tech companies based on local revenue. But he failed to get support from other European countries — European tax policies require a unanimous decision from members of the European Union.

The French government chose not to wait for other European countries and started working on its own local tax. There are two requirements:

  • You generate more than €750 million in revenue globally and €25 million in France.
  • And you’re operating a marketplace (Amazon’s marketplace, Uber, Airbnb…) or an advertising business (Facebook, Google, Criteo…).

If you meet those two requirements, you have to pay 3% of your French revenue in taxes.

At the same time, the OECD has been working on a way to properly tax tech companies with a standardized set of rules that would work across the globe. But OECD members have yet to reach a compromise.

France and the U.S. have been arguing on and off for the past couple of years about the tech tax. In August 2019, then U.S. President Donald Trump and French President Emmanuel Macron reached a deal by promising that the French government would scrap the French tax as soon as the OECD finds a way to properly tax tech companies in countries where they operate.

In December 2019, the U.S. promised 100% tariffs on French wine, cheese and handbags because the previous deal wasn’t good enough. In January 2020, the two sides agreed to wait a little bit to see if the OECD framework would come through.

And here we are. According to the French government, OECD negotiations have failed, so it’s time to start collecting the French digital tax. Let’s s see how the U.S. reacts during the Trump-Biden transition.

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