Tradewind Finance Supports Businesses with Fast and Flexible Financing Solutions

NEW YORK, April 21, 2020 /PRNewswire/ — Tradewind Finance, an international trade finance company, is offering more flexible financing solutions to address the economic and operational upheaval businesses are presently facing due to the COVID-19 pandemic. The solutions that have been rolled out are intended to help buyers and sellers overcome cash flow and supply chain challenges during a time of global disruption. This includes Tradewind Finance’s move to finance payment terms of up to 180 days for new shipments. With a longer financing period available, suppliers can offer extended payment terms to their buyers. Overall, suppliers and buyers can build a more transparent and trusting relationship with the help of international trade finance companies who can work with both business partners to grow and succeed together.

As supply chains are rattled, the firm is staying attuned to their clients’ needs and is maximizing their efforts to curb these disruptions. They are providing creative solutions to their clients faced with various scenarios, such as those who are forced to hold onto goods that have already been produced.

Not only is Tradewind Finance creating working capital for their clients and alleviating stress on supply chains with more lenient financing parameters, but they are also offering these solutions to new businesses who are interested in their services to help them through the impacts of the current global crisis. The firm works with exporters and importers across a myriad of industries, including medical supplies, seafood, electronics, and apparel.

Tradewind’s trade finance services have helped companies for over 20 years by accelerating cash flow to their businesses. During this challenging period for companies everywhere, Tradewind’s global chief financial officer and senior executive officer Peter Maerevoet insists that trust and collaboration between buyers and suppliers is the key to viability over other immediate fixes that can destroy companies in the long run.

Recently, Maerevoet was approached by Sourcing Journal, a leading apparel and textile publication that serves a worldwide readership of sourcing executives, supply chain executives and others within the industry, to weigh in on the havoc that has been wrought on retailers and suppliers in the fashion sector.  Tradewind Finance has been instrumental in financing the apparel and textile industry for two decades and can help charter fashion companies to safer waters during the current period.

With the unprecedented impacts of COVID-19, retailers and suppliers have to choose whether to cooperate under these new circumstances to preserve partnerships, or instead think of their own survival in the short term, no matter the cost. Maerevoet shares his thoughts on why trust and collaboration are critical in the Sourcing Journal article titled, “Collaboration, Compassion Key for Supply Chain Crisis Management”, in which he was featured:

“Relationships with mutual trust have a much better chance to survive crises than some opportunistic or tactical price-driven relationships.” “I think that’s something you will see in the next couple of months that a lot of these opportunistic relationships… will stop forever or at least for a couple of years. And those strategic relationships where people have had mutual trust for many years will survive the crisis and they’ll even be stronger.”

As businesses look to survive — and even thrive — in a period with negative impacts that permeate all facets of the world, Tradewind Finance is providing much-needed support to weather the storm. With the firm’s cash flow solutions, credit protection, and facilitation of longer payment terms, buyers and suppliers can maintain their business partnerships and overcome cash flow hurdles.

Contact info:
Tradewind Finance
contact@tradewindfinance.com
212-765-4349
https://www.tradewindfinance.com/

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Tech & Tonic Episode 10 – Apple and Google on the Same Page?

In this week’s Tech & Tonic Podcast, which was also a livestream in the morning, it is just the two of us again. We explored plenty of things that came out last week though. We spoke about the collaboration between Google and Apple. We think that there is going to be a significant long-term benefit to the collaboration for the health care industry.

Apple also launched their brand-new Apple iPhone SE last week. The iPhone SE is meant to be their latest, and most affordable Apple iPhone. It still packs an A13 Bionic processor though, so it comes packing with power.

We also discussed about OnePlus’ new flagship, the OnePlus 8. In that, we spoke about how similar it is to another flagship that was launched earlier this year. Still, it seems like a good flagship contender for 2020.

We finally unboxed the HUAWEI MatePad Pro too (unboxing later this week). We discussed about how we actually liked the device. Of course, without Google’s Mobile Services, we feel that it is a little lacking somehow. Still, we like it.

That brought us to another topic of mobile ecosystems though. Is HUAWEI Mobile Services a good alternative to the Google Play ecosystem? Should you even consider it. We spoke about that, and more in the latest Tech & Tonic!

Is Privacy Our Sole Concern With Contact Tracing Technology?

This week the Guardian reported an alleged ‘standoff’ between the NHSX (the digital innovation arm of the NHS) and tech giants Google and Apple regarding the deployment of contact tracing technology aimed at curbing the spread of the Covid-19 virus. The debate is on two predominant issues; first, the base technology to be used and second, how the data will be stored.

Sidestepping the first issue which sees Google and Apple aiming to implement their feature directly on a device’s operating system while the NHSX version requires a downloadable dedicated application, this article will focus on the issue of privacy arising from the second issue.

In essence, Apple and Google have insisted that if there is to be any collaboration between the NHSX and them for the purposes of contact tracing the storage of all data will have to be decentralised. The NHSX, on the other hand, is pushing for centralised storage of data.

What’s the difference?

Before deciding on one system or another, it’s best to understand the basics of the distinction between these systems.

A centralised system has a single storage point and controller of the data collected. The central controller of the data may grant access to other users but remains ultimately responsible for the system as a whole. A centralized system is relatively easy to set up and can be developed quickly. Such a system is very useful where continuous modifications to the parameters of the system are expected or where the use of the data needs to be adapted for different purposes.

In contrast, a decentralised system has multiple controllers of data all of whom collect and store copies of the data on their respective systems. This system allows for quicker access to data and less risk of downtime as a fault with one controller will not necessarily affect the others.

The third form known as a distributed system in which there is no single central owner at all and instead gives collective ownership and control to each user on the network is unlikely to be used by either party.

Each system has its advantages and disadvantages and to make a decision between a centralised and a decentralised system the NHS and the tech giants will need to take into consideration a range of issues including:-

  1. The overall effectiveness of the technology;
  2. The adaptability of the system to the shifting demands of research;
  3. The cost of deployment and maintenance;
  4. Whether or not the system is a security risk for the user;
  5. Whether there are compliance concerns.

Why is a decentralised system so important?

Google and Apple have been clear that the reason for a proposed decentralised system is to avoid the risk of mass government surveillance presently or in the future. This is a genuine concern as the data being collected will be directly related to a user’s location and medical history. Although not absent from criticism, this position is the preferred option and has been supported by academics and numerous civil rights groups including the Electronic Frontier Foundation and the American Civil Liberties Union. 

Still, the European position is split with the seven governments supporting the project known as the Pan-European Privacy-Preserving Proximity Tracing (PEPP-PT) which proposes a centralised repository of data and a growing following for the Decentralised Privacy-Preserving Proximity Tracing (DP-3T) advocating a decentralised system.

The NHS itself may not be intent on surveillance however being publicly funded draws immediate speculation to its government links. In addition, both the NHS and the UK government have had a poor record of handling large scale IT projects such as the failed £11bn National Programme for IT, scrapped in 2011 and the plans for a paperless NHS by 2018 which could not even take off.

What about the NHS position?

Unfortunately, the focus on privacy risks coupled with the NHS’s bad track record in the field of technology projects have detracted from the core issue at hand – What does the NHS need right now to curb the spread of the Covid-19 virus?

Ross Anderson, an advisor to the NHS on its contact tracing application highlighted the problem with a decentralised system:-

…on the systems front, decentralised systems are all very nice in theory but are a complete pain in practice as they’re too hard to update. We’re still using Internet infrastructure from 30 years ago (BGP, DNS, SMTP…) because it’s just too hard to change… Relying on cryptography tends to make things even more complex, fragile and hard to change. In the pandemic, the public health folks may have to tweak all sorts of parameters weekly or even daily. You can’t do that with apps on 169 different types of phone and with peer-to-peer communications.

(https://www.lightbluetouchpaper.org/2020/04/12/contact-tracing-in-the-real-world/)

The Covid-19 virus took approximately 2 months to infect 100,000 UK residents and the spread has shown few signs of a slowing infection rate. Time is critical in this situation and correspondingly, flexibility in adapting to the constantly changing nature of the infection is a necessity. Decentralised systems do not allow for rapid evolution.

In addition, we should consider that unlike centralised systems, decentralised systems are often unencrypted. While trying to prevent a government from carrying out surveillance, the Google and Apple system may inadvertently open itself up to more security problems than expected. In fact, they have themselves admitted this risk stating that nothing is “unhackable”.     

As a second consideration, the API that Google and Apple will release will likely have strict limitations on the type of data that may be collected. For example, the NHS would not be able to gather a list of every person a user has been in contact with based on user proximity. Instead, it will utilise a more manual version of contact tracing involving sending every phone in the system a list of other phones that have been reported as contagious, and asking the user whether they have “seen this user” Such a system relies heavily on user verification which is often incorrect or simply disregarded.

Key location data which may be used for developing population flow maps and anticipating the further spread of the virus will likely not be made available under Google and Apple’s current proposal. It is also important to note that data from contact tracing could be used beyond the scope of curbing the spread of the virus i.e. for decisions on directing the flow of emergency aid, development of temporary healthcare facilities, deployment of healthcare equipment and personnel.   

What has been going on elsewhere?

Contrasting the UK’s situation, the Asian experience, having less stringent data protection regulations, have taken remarkably different approaches to Europe in general.

Hong Kong, for example, introduced the mandatory use of an electronic wristband connected to a smartphone application to enforce quarantine for arrivals from overseas. Users refusing to adopt this requirement are refused entry into the country.

South Korea won praise for both tracking and publishing data relating to affected person’s travel routes and affected areas, the data being collected through the government’s application as well as numerous independent applications. Residents also receive numerous location-based emergency messages and are not allowed to opt-out of this function.

China’s measures, which have come under considerable question, see a private entity collaboration through the Alipay Health Code. Citizens are given a ‘traffic light’ status that determines the restrictions that will be imposed on them. Although the exact basis for determining a person’s status is not known the status has widespread application including restriction of access to certain public facilities and payment systems.

Privacy concerns of these measures aside, all these countries have seen a considerable reduction in the spread of the Covid-19 virus. While it would be premature to suggest that this is solely attributable to the contact tracing measures implemented there is no doubt that the quick and extensive deployment of the technology has contributed to the battle against the virus’ spread which begs the question:

Is privacy getting in the way?

In 1890, Brandais and Wallace, pioneers of modern day privacy wrote:-

…To determine in advance of experience the exact line at which the dignity and convenience of the individual must yield to the demands of the public welfare or of private justice would be a difficult task…

The UK and indeed Europe are at this juncture and need to decide on the cost of the compromise as the death toll and infection rate continue to increase. History reminds us that the greatest privacy and surveillance violations occurred when the world was focused on a raging war and in fact it is times like this that we must be most vigilant about rights.    

Xinhua Silk Road: International economic, trade, tourism festival spurs dev. of E China’s Yangzhou

BEIJING, April 21, 2020 /PRNewswire/ — The 2020 China Yangzhou Flowery March International Economic, Trade and Tourism Festival kicked off on April 18 in Yangzhou of east China’s Jiangsu Province with 36 key projects contracted at the opening ceremony.

It is learned that 178 projects with a gross investment of 187.83 billion yuan will be contracted during the festival, involving advanced manufacturing, modern services and sci-tech cooperation.

The project signing ceremony at the 2020 China Yangzhou Flowery March International Economic, Trade and Tourism Festival. (Photo/Voice of Yangzhou)
The project signing ceremony at the 2020 China Yangzhou Flowery March International Economic, Trade and Tourism Festival. (Photo/Voice of Yangzhou)

During the festival, the city will issue tourism and catering cards to visitors through online and offline channels to let them enjoy a cash rebate, aiming at expediting the building of a well-known international cultural tourism city and fostering the recovery of the service sector.

The festival also witnessed the unveiling ceremony of “Food Capital of the World”.

As a city with a history of 2,500-odd years, Yangzhou was rated as China’s fourth “Food Capital of the World” in 2019 after Chengdu in southwest China’s Sichuan, Shunde District of Foshan in south China’s Guangdong, and Macao.

As a member of the UNESCO Creative Cities Network, Yangzhou has taken a comprehensive set of actions in response to the COVID-19 outbreak, and introduced specific measures to support local catering sector, Ernesto Ottone Ramírez, Assistant Director-General for Culture of UNESCO, said via video connection.

He believed Yangzhou has the ability to get through the crisis with its strong cultural resources and gastronomic traditions.

Yangzhou will ramp up efforts in developing industrial clusters involving automobiles and parts, high-end equipment, and new power equipment, microelectronics and software and information service, and high-end textiles and clothing, ocean engineering equipment and high-tech ships, biomedicine and new medical devices, food, and aviation, said Zhang Baojuan, Mayor of Yangzhou.

The city is facing unprecedented development opportunities brought by the Yangtze River Delta integration, the Grand Canal Cultural Belt and other national development plans. The convenient modern transport, profound cultural heritage and sci-tech innovation, international and standardized business environment, and convenient living environment together make Yangzhou an ideal place to live, work and start businesses, said Xia Xinmin, Secretary of CPC Yangzhou Municipal Committee.

It’s reported that the Flowery March International Economic, Trade and Tourism Festival has been held for 19 consecutive years, and has become an important platform for promoting Yangzhou’s economic and trade cooperation and cultural exchanges at home and abroad.

See the original link: https://en.imsilkroad.com/p/312895.html

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Tencent Music Entertainment Group to Report First Quarter 2020 Financial Results on May 11, 2020 Eastern Time

SHENZHEN, China, April 21, 2020 /PRNewswire/ — Tencent Music Entertainment Group (“Tencent Music”, “TME”, or the “Company”) (NYSE: TME), the leading online music entertainment platform in China, today announced that it will report its unaudited financial results for the first quarter of 2020 after the U.S. market closes on Monday, May 11, 2020.

Tencent Music’s management will hold a conference call on Monday, May 11, 2020, at 8:00 P.M. Eastern Time or 8:00 A.M. Beijing Time on Tuesday, May 12, 2020, to discuss the financial results. Listeners may access the call by dialing the following numbers:

United States Toll Free: 

+1-888-317-6003

International:

+1-412-317-6061

Mainland China Toll Free:

400-120-6115

Hong Kong Toll Free: 

800-963-976

Access Code:

4624371

The replay will be accessible through May 18, 2020, by dialing the following numbers:

United States Toll Free:

+1-877-344-7529

International:

+1-412-317-0088

Access Code:

10142408

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.tencentmusic.com/.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) is the leading online music entertainment platform in China, operating the country’s highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music’s mission is to use technology to elevate the role of music in people’s lives by enabling them to create, enjoy, share and interact with music. Tencent Music’s platform comprises online music, online karaoke and music-centric live streaming services, enabling music fans to discover, listen, sing, watch, perform and socialize around music.

For more information, please visit ir.tencentmusic.com.

Investor Relations Contact

Tencent Music Entertainment Group
ir@tencentmusic.com
+86 (755) 8601-3388 ext.871720

Cision View original content:http://www.prnewswire.com/news-releases/tencent-music-entertainment-group-to-report-first-quarter-2020-financial-results-on-may-11-2020-eastern-time-301044104.html

Vestiaire Collective Raises €59 Million to Support Its Community in Changing the Fashion Industry for a Better Tomorrow

PARIS, April 21, 2020 /PRNewswire/ —

  • The new round brings on board Korelya Capital, funds managed by Fidelity International, Vaultier7 and Cuir Invest
  • Existing shareholders Eurazeo (Eurazeo Growth & Idinvest Venture funds), Bpifrance, Vitruvian Partners, Conde Nast, Luxury Tech Fund and Vestiaire Collective’s CEO, Max Bittner also reinvest
  •  The round will be used to:
    Continue transforming the fashion system while offering a smart, circular and responsible alternative to throw-away fashion
    Jointly explore the expansion of the global business into Japan and Korea through Korelya Capital, backed by Naver
    Expand the launch of Direct Shipping service in the US

Ahead of Earth Day’s 50th anniversary and in this unprecedented period of uncertainty, Vestiaire Collective, the leading global platform for desirable pre-owned fashion today announces the completion of a €59 million round of financing, existing shareholders reinvest alongside new investors Korelya Capital, which is backed by Korean technology conglomerate Naver, funds managed by Fidelity International,  Vaultier7, a specialist female-led consumer fund, and Cuir Invest, which is backed by the French Leather industry.

The current economic and ecological crisis are accelerating an existing shift in consumer mindset, driven by growing criticism of waste-producing business models, and increased desire for purpose-driven brand action. As a company, Vestiaire Collective is committed to limiting the waste produced by the fashion industry, by keeping clothes out of landfill and increasing the number of times they are worn today, for a better tomorrow.

As the leading global resale platform, this round demonstrates that the Vestiaire Collective model embodies the future of the fashion industry and unifies growing consumer sentiments. Following the COVID-19 crisis, we expect:

  • Further adoption of online shopping, but more importantly an increased focus on social values and communities, with more people supporting each other.
  • Consumers are set to become increasingly resourceful as they look to resale as an additional way to raise funds and find unexpected value in their wardrobe.
  • Environmental concerns will further drive a more conscious approach to consumption, as 20% of consumers expect to reduce their clothing consumption following the crisis*.

Vestiaire Collective has seen deposits and orders quickly rebound to the pre-COVID 19 baseline or above. During this challenging period this clearly demonstrates customer demand for circular business models, both now and looking ahead to the future of the rapidly evolving retail landscape.  

Vestiaire Collective encourages a move away from throwaway fashion towards quality that lasts and holds value. We believe that today, our community of over 9 million fashion activists will be proud to lead by example and spread the word converting more consumers to the cause. Because in the end, it’s not the big, impressive statements that will make the most impact, but the meaningful change taken every day by individuals, no matter how small or large. We trust Vaultier7 as members and ambassadors of the Vestiaire Collective community to help us build on this momentum by expanding in the most thoughtful way. We are also excited by their extraordinary network which will  support us in further unlocking underutilized personal luxury goods to meet the demand of buyers globally.

This new round of funding will also allow for further acceleration of Vestiaire Collective international business beyond the countries where the company’s community is already well established. Currently, over 80% of the French headquartered company’s transactions are already generated cross-border.

Thanks to Korelya Capital, which is backed by Korean technology conglomerate Naver, Vestiaire Collective will jointly explore the expansion towards Japan, the biggest resale market in the world, and Korea in 2020 and beyond.

Finally, this round will help us continue to drive ambitious growth in the US market and further develop our successful Direct Shipping model. Launched in Europe in September 2019 the service is increasingly popular with a growing number of customers. Currently already over 50% of orders in the EU are fulfilled through the new service, which is also growing at a rate of +60% MoM. The model will be launched in the United States in early summer followed by Asia before the end of 2020.

Max Bittner, CEO of Vestiaire Collective - Investment Announcement
Max Bittner, CEO of Vestiaire Collective – Investment Announcement

Max Bittner, Vestiaire Collective’s CEO comments:

“I am personally convinced that this unprecedented period of disruption will not only challenge where we shop but how we shop. Vestiaire Collective was built during the 2008 crisis, and proves today how it can help people in their daily life to make the most out of their belongings, but also to access fashion in a sustainable and conscious way. Everyday, I feel proud and amazed by our global community of fashion activists who are leading the way towards a brighter future.”

Paul Degueuse, General Partner of Korelya Capital says,

“As we all take a step back and contemplate the way we live, we believe consumption patterns are on the verge of a deep structural evolution, and C2C platforms have a strong role to play here. We see in Vestiaire Collective an emerging leader and catalyst of this upcoming disruption. We are extremely enthusiastic to support Vestiaire Collective and its founders in its expansion. There are tremendous opportunities for growth in Asia, and we look forward to helping the company accelerate its expansion in this part of the globe.”

Vaultier7 comments:

“Vestiaire Collective has transformed the way people consume desirable and luxury fashion with its trusted and inspirational resale model and we are truly proud to be there at this time to support them in their mission, and support buyers and sellers across the globe on their path to cautious, minded consumption, values which are more important than ever and which are at the core of Vaultier7.”

Frank Boehly, Président of SIC SA investor Cuir Invest, says,

“Cuir Invest is happy to support Vestiaire Collective, as it is a company with an impressive management team, and huge growth potential. We have been impressed by the technological quality of the solution, by the quality and the dynamism of the management team, and by their intelligent and sustainable approach to fashion. We truly believe that Vestiaire Collective can become the world leader in their sector.”

NOTES TO EDITORS:
*McKinsey Covid-19 response in Apparel and fashion study 

About

About Vestiairecollective.com Vestiaire Collective is the leading global platform for desirable pre-owned fashion. Curated by its trusted community of fashion lovers, members inspire one another whilst selling and buying unique pieces from each other’s wardrobes. Encouraging consumers to join the circular economy as a sustainable alternative to throw-away fashion, the platform is unique due to its highly engaged community, its rare desirable inventory and its authenticity and quality control process. Launched in Paris in October 2009, Vestiairecollective.com has over 9 million members across 90 countries worldwide with offices in Paris, London, New York, Milan, Berlin and Hong Kong. Over 60,000 new items are submitted by its community of sellers every week, which enables buyers to search amongst highly coveted and sold out fashion pieces whilst participating in the circular fashion movement. @vestiaireco

ABOUT VAULTIER7

Founded by experienced dealmakers Montse Suarez and Anna Sweeting, and backed by elite investors, Vaultier7 is the UK’s first specialist investment fund dedicated to partnering high growth category creators and disrupters in the converging sectors of Beauty & Personal Care, Health & Wellness and Lifestyle.

Vestiaire Collective - Investment Announcement
Vestiaire Collective – Investment Announcement

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Facebook Looks to Help Track COVID-19 Spread with Worldwide Rollout of Symptom Tracker

The COVID-19 pandemic has rewritten the way we approach pandemics in so many ways. It has brought to light new dimensions that also have a part in pandemics in the age of social media and the internet. However, it has, more importantly, highlighted the importance of data and technology in managing the spread of a deadly virus.

Facebook is looking to help with the data portion of the equation when it comes to managing the COVID-19 outbreak. With many country’s public health sectors being bogged down and overwhelmed, the company is looking to step in to help monitor hotspots and predict infection clusters before they occur. Partnering with Carnegie Mellon University Delphi Research Center, the company has developed a symptom tracker which can help predict hotspots based on surveys.

These opt-in survey ask participants if they have experienced any of the symptoms currently associated with a SARS-CoV-2 infection. These include coughing, shortness of breath, loss of smell, loss of taste and fevers. Using these symptoms are precursor markers, the data collected is able to help forecast potential patient loads for hospitals during the outbreak and if the curve is being flattened. These responses are sent directly to researchers in Carnegie Mellon University.

This is work that social networks are well-situated to do. By distributing surveys to large numbers of people whose identities we know, we can quickly generate enough signal to correct for biases and ensure sampling is done properly. 

Mark Zuckerberg, CEO of Facebook

Facebook is facilitating this research as part of its Data for Good program. The social media platform is proving its efficacy as a platform for data collection. On a daily basis, about 2 billion users interact on the platform; making it uniquely suited as a potential data silo. This application could potentially help countries still struggling with COVID-19 predict and manage outbreaks and disease clusters more effectively. It can also be a game changer for countries which do not have the resources to deal with the pandemic effectively.

After a month of trials, Facebook is looking to make the survey available internationally. During the trails, the company saw the efficacy of using the collected data to create a county-by-county heat map for COVID-19 spread; something that was apparently hard to get in the U.S.

Android Stability Flaw May Be Causing Phones to Freeze Up

It seems like Google may have a little bit of a problem when it comes to Android. There are an increasing number of reports coming in from users about random app freezes and UI lock ups. These reports were initially thought to be isolated to Google’s Pixel devices. However, OnePlus and Xiaomi users have begun reporting the issue too.

The bug appears to be initiated by an app freezing. This has been reported to cause the whole Android UI to freeze up; leaving the device unusable. So far, users have been able to alleviate the issue by simply turning off the display and locking the device. Unlocking the device thereafter solves the problem. The bug can also be dealt with by pulling the notification shade down by using the fingerprint sensor. However, this is not supported on all devices.

The issue was highlighted on Twitter by user @ArtemR and @CBuzle. However, it seems like the issue has been around for quite a while. Staff from Android Authority and Android Police have reported the issue as well. The issue doesn’t seem to be linked to any one OEM or company as it even occurs on devices with Nova Launcher and Action Launcher. Most commonly, the issue occurs when YouTube, Amazon, Twitter, YouTube Music and the Play Store are in use. However, reports of it occurring while using other apps are increasing.

It looks like the issue seems to be plaguing devices running on Android 10. However, Android Police notes that there has been a report of it occurring on a Pixel 3 running the Android 11 developer preview. They also note that the issue seems to be similar to a memory management bug that was seemingly fixed with the December 2019 patch from Google.

Italian Chamber of Commerce Rolls out New Initiatives to Battle COVID-19

SINGAPORE, April 21, 2020 /PRNewswire/ — In light of the COVID-19 pandemic bringing about an unprecedented impact on businesses and workers around the world, companies need to adapt faster than ever before by showing how business can be done differently.

With a mission to foster and strengthen bilateral business, economic, commercial and industrial relations between Italy and Singapore, the Italian Chamber of Commerce (ICCS), a non-profit association, has unveiled the necessary measures implemented in accordance with guidance on social distancing during these trying times.

The series of initiatives for its Italian members kicks off with an e-commerce strategy, with ICCS engaging the help of online stores such as Shopee, Lazada and RedMart. Through these partnerships, Italian companies protected under the ICCS umbrella are able to sustain brand presence in the respective markets, with the ability to reach out to consumers through virtual experiences.

Amplifying on the efforts to transform to a digital workspace, ICCS has increased its digitised offerings, with Webinars in place of events. The Webinars is scheduled to take place in the Asian afternoon time, in order to allow participation from a European audience.

“As a result of the lockdown measures, we have seen a clear increase in interest and demand for information and training from Italy,” comments Alberto Maria Martinelli, President of ICCS.

With determination to make a difference on ground, ICCS takes a step further to support the Italian Civil Protection Agency by granting further economic assistance to battle the crisis in Italy. Through this meaningful initiative, the ICCS Management and their Board Members have collectively contributed on behalf of the Chambers.

Building on these humanitarian efforts, ICCS announced that they have engaged a reliable and efficient channel to purchase sanitary products, to be sent to Italy to provide urgent help for emergency services and caregivers, to strengthen healthcare systems.

“We will continue to show ongoing support of the Italian business community in Singapore and in Italy with the launch of our e-commerce and business-to-consumer projects, focused on expansion in the Asian region,” Mr. Martinelli signs off with these words to reassure the community.

To find out more about Italian Chamber of Commerce, please visit: http://www.italchamber.org.sg

About Italian Chamber of Commerce (ICCS)

The Italian Chamber of Commerce is a non-profit association recognized by the Italian Government and member of Assocamerestero, apex body of over 70 Italian Chambers abroad. The Chamber aims to strengthen bilateral relations between Italy and Singapore in collaboration with strategic partners from the two Countries.

The Italian Chamber of Commerce in Singapore is geared to provide a wide range of business services tailored to the requirements of its members, as well as Italian and Singaporean companies. Thanks to strategic partnerships with Institutions, Chambers of Commerce and Agencies in the ASEAN region, the Chamber is a springboard for business in South-East Asia beyond Singapore.

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Facebook and Google Could Have to Pay for News Content in Australia

Facebook and Google are arguably the largest content providers in the world. They have, in some cases, become the sole source of content for users. The companies have played the role of content aggregator and ad providers for many years. However, some countries are beginning to take a hard look at how they could have played a role in the slow demise of news outlets over the years.

The main issue being looked at in a lot of countries is the distribution of ad revenue. In most of these countries, the argument is that Facebook and Google’s hold on an unprecedented share of ad revenue has led to the decline in overall revenue for news outlets. This has led to an increased scrutiny by governments. Unsurprisingly, governments are beginning to argue that companies such as Google and Facebook should be paying for the content they are using on the platform.

The latest country to seriously consider the possibility of introducing such laws is Australia. The country has ordered that its Competitions and Consumer Commission (ACCC) create a mandatory code of conduct to address the issue. The code of conduct would, essentially, require companies like Facebook and Google to pay for using content generated by others; this would include listing the content. While we’ve already seen similar measures adopted in countries like France, the ACCC’s code of conduct would also require companies to share data, algorithm changes, news ranking and adopt some form of revenue sharing with content companies.

The move to introduce some form of legislation is spurred by the economic impact of COVID-19 on the news and content sectors. The country is also citing the disproportionately large share of online revenue taken by Facebook and Google in the country. A draft of the Australian code of conduct is expected to be prepared by July 2020. However, there is no clear indication of when the code of conduct will finalised.