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Money & Finance

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  1. Today, Starbucks (+0.78%) is opening its first location in Italy—a "Reserve Roastery" in Milan—as an homage to the very country that inspired its espresso-fueled vision (and ~28,000 stores worldwide). But this isn't your corner coffeehouse Look back at the picture. That's what the very upscale, 25,000-square-foot Milan Roastery looks like. Plus, it offers locally roasted coffee from 30 countries alongside freshly baked pizzas and pastries...and alcoholic drinks so you won't miss your after-work aperitivo. There's a backstory: Starbucks Chairman Emeritus Howard Schultz first traveled to Milan in 1983...when there were only four Starbucks locations, all of them in Seattle. Italy's cafe culture inspired him to "build a company with the same nucleus of warmth, community, and human connection," Starbucks wrote in a release literally called, "Starbucks comes to Italy: An opera verismo in seven acts." Italy worked its magic Now, Starbucks opens a coffee shop chock full of human connection (if someone writing your name on a cup counts) every four hours on average, and it clocked in $22.4 billion in net revenue last year. This is just its third Roastery (after Seattle and Shanghai). But Starbucks plans to open Roasteries in New York, Tokyo, and Chicago this year and next. FWIW: The Milan Roastery might not be an easy sell for the proud Italian coffee-lover. Starbucks will charge more than 3x the going price for espresso and cappuccino in Milan (at least visitors from NYC will be used to overpaying). Already, one consumer group has filed a complaint over prices. Plus, Italians are deeply protective of their coffee culture. Good luck defending why your "grande" size is only a medium. So why open the Roastery? Starbucks is trying to expand abroad as U.S. sales stagnate (and force store closures). In China, for example, Starbucks opens a new location every 15 hours. And expanding its global footprint is as important as ever—$13 billion of Starbucks's $73 billion valuation is tied to opening stores over the next few years, per Forbes. h/t Daily Roast
  2. Stock repurchases by U.S. companies are leading to a “self-cannibalization” of the equity market, Pavilion Global Markets Ltd. wrote in a report Tuesday. The firm cited the S&P 500 IndexÂ’s divisor, which falls when companies reduce the number of shares outstanding and vice versa, as an indicator of this trend. The divisor dropped in July to its lowest level since March 2000, according to data compiled by Bloomberg, and was just above the low this week. - David Wilson / Bloomberg
  3. If your cabinets are looking a little bare these days, you might want to stock up soon. Consumer goods leader P&G (+0.82%) is raising prices on some of its major brands. The price of Pampers diapers in North America will increase 4% on average. Charmin toilet paper, Bounty paper towels, and Puffs tissues will all see an average price increase of 5%. And surprise! Tariffs aren't contributing to higher costs. Instead, P&G is hoping to ride a wave of rising consumer confidence to give its thinning margins a little room to breathe. Want another reason prices are going up? Here's one answer: pulp. No, not the kind that ruins an otherwise refreshing glass of orange juice...but the wood-based raw material that's used to make products from tissues to diapers. Since late 2016, hardwood pulp prices have jumped around 60%. Did you know? You can make 1,000 rolls of toilet paper from the pulp of just one eucalyptus tree. Become a pulp expert.
  4. Consumer prices edged up 0.1%, according to new CPI data. That effectively cancels out the wage growth from June.  But you already knew this.....
  5. Investors would have done much better keeping an eye on Tandem Diabetes Care, a small, promising -- yet still risky -- medical products company that is growing sales, but also losing money. In the first quarter, it sold a few thousand of its next-generation insulin pump, the t:slim X2, and says it needs an installed base of 80,000 pumps to break even on a cash flow basis, though it believes it can hit that milestone some time next year. Because diabetes is a huge growth market, with the incidence of the disease expected to grow 165% in the U.S. by 2050, Tandem has a promising technology that analysts believe, if successful, could challenge Medtronic (NYSE:MDT) for industry leadership. Medtronic offers a competing technology called a continuous glucose monitor (CGM) that tracks a patient's blood sugar over time to let them better manage their disease. As diabetics seek alternatives to insulin injections to regulate their condition, Tandem has partnered with DexCom to bring its insulin pump system (that works with DexCom's monitoring system) to market early next year. The artificial pancreas monitors patients' blood glucose levels and uses an algorithm to know when to deliver an appropriate dose of insulin. At least one analyst thinks highly of Tandem's prospects for being able to grab market share when its system is commercialized. He upgraded the stock, which sent shares soaring. Although Medtronic is many times larger than Tandem, its CGM device is also much larger than Tandem's t:slim X2, and thus more cumbersome. And DexCom's monitors, which work with both systems, can be used for longer periods of time with Tandem's pump, making them more convenient. Also, the need for finger pricks for dosing decisions isn't needed with the t:slim X2 whereas they're still necessary with Medtronic's MiniMed system. While the potential for Tandem Diabetes Care may be more promising than for NII Holdings, it also is a risky proposition. Even though the FDA just approved Tandem's pump with its newest technology that predicts where insulin level needs and adjusts production accordingly, Medtronic also received regulatory approval for its own enhanced CGM system that now allows for treating patients between ages seven and 13. It removes a competitive advantage Tandem had with its pump being able to be used on those as young as six. Tandem's finances are probably not going to look pretty either for awhile yet. Still, by the t:slim X2 getting approved for use with DexCom's more feature-rich monitoring technology, a development that wasn't expected, there's good reason why Tandem Diabetes Care shares are soaring.
  6. The Global Diabetes Care Devices Market is expected to exceed more than US$ 30.25 Billion by 2022 at a CAGR of 5.9% in the given forecast period Browse Full Report:https://www.marketresearchengine.com/diabetes-care-devices-market The Global Diabetes Care Devices Market is segmented on the lines of its glucose monitoring devices, insulin delivery device, type and regional. Based on glucose monitoring device segmentation it covers blood glucose meters, blood glucose test strips, lancing devices, continuous glucose monitoring devices, HbA1c testing kits. Based on insulin delivery device segmentation it covers insulin pumps, insulin syringes and insulin pens. Based on type segmentation it covers therapy type, inject able, oral drugs. The major driving factors of Global Diabetes Care Devices Market are as follows: Increasing prevalence of diabetes care patients Development of technologies for diabetes Rising minimum or non-invasive products Growing awareness of diabetes care devices Development need for faster, safer and effective method of diagnosis and treatment of diabetes The restraining factors of Global Diabetes Care Devices Market are as follows: Expensive related with diagnosis and treatment Compensation issues and patent expiry This report provides: 1) An overview of the global market for Global Diabetes Care Devices Market and related technologies. 2) Analyses of global market trends, with data from 2013, estimates for 2014 and 2015, and projections of compound annual growth rates (CAGRs) through 2022. 3) Identifications of new market opportunities and targeted promotional plans for Global Diabetes Care Devices Market. 4) Discussion of research and development, and the demand for new products and new applications. 5) Comprehensive company profiles of major players in the industry. The Global Diabetes Care Devices Market has been segmented as below: By Glucose Monitoring Devices Analysis: Blood Glucose Meters Blood Glucose Test Strips Lancing Devices Continuous Glucose Monitoring Devices HbA1c Testing Kits By Insulin Delivery Devices Analysis: Insulin Pumps Insulin Syringes Insulin Pens By Type Analysis: Therapy Type Injectable Oral Drugs By Regional Analysis: North America Europe Asia-Pacific Rest of the World Reasons to Buy this Report: 1) Obtain the most up to date information available on all Global Diabetes Care Devices Market. 2) Identify growth segments and opportunities in the industry. 3) Facilitate decision making on the basis of strong historic and forecast of Global Diabetes Care Devices Market data. 4) Assess your competitor's refining portfolio and its evolution.
  7. In November 2011, the company received FDA clearance to market the t:slim Insulin Pump, the first ever touch-screen insulin pump.[7] In February 2013, the company received FDA clearance to market the t:connect Diabetes Management Application, a Mac and PC-compatible data management application that provides t:slim Pump users and their healthcare providers a way to display data from the pump and supported blood glucose meters on a cloud-based platform. In January 2015, Tandem announced FDA clearance of the t:flex Insulin Pump, the largest capacity insulin pump on the market. In July 2014, Tandem announced that it had submitted a PMA for the t:slim G4, which integrates t:slim Pump technology with the Dexcom G4 Platinum CGM System. This device was approved by the FDA in September 2015.The FDA approved a tool to update the software on Tandem's pumps in July, 2016. The Tandem Product Updater is designed to deliver software updates to Tandem's pumps to provide new features and interface improvements. In announcing the approval, Tandem stated that the first use of the new tool will be to update t:slim pumps which were shipped prior to April, 2015 with a new version of the firmware which speeds the loading process and offers other enhancements. In late October 2016, Tandem began shipping its next-generation pump platform, the t:slim X2. The X2 will receive updates via the Tandem Product Updater product, with planned updates initially including integration with Dexcom's G5 and G6 Continuous Glucose Monitors, and eventually the integration of closed-loop technology which Tandem licensed from TypeZero in July 2016
  8. In 2006, a group of engineers recognized the need for new and improved methods of pumping insulin and incorporated as Phluid, Inc. In 2007, Kim Blickenstaff joined the organization as President and CEO, bringing his philosophy of using market research as the inspiration for product development and started on the development of the t:slim Insulin Pump. In 2008, this predecessor company became the newly incorporated Tandem Diabetes Care, Inc. that was formed with a focus on promoting a comprehensive, user-centric, and integrated approach to diabetes product development and customer care. Tandem Diabetes Care felt that incorporating enhanced ease of use and attractive design—often associated with consumer electronics development—would also encourage more patients to consider the clinical benefits of insulin pump therapy. Tandem Diabetes Care interviewed more than 4,000 insulin pump users and health care providers to design its first device, the t:slim Insulin Pump. In 2016, the company was ranked #39 on the Deloitte Fast 500 North America list
  9. John Mc Avoy, chairman, president and chief executive officer, Consolidated Edison, Inc. Timothy P. Cawley, president, Consolidated Edison Company of New York Robert Sanchez, president and CEO, Orange and Rockland Utilities, Inc. Mark Noyes, president and CEO, Con Edison Energy, Con Edison Development, and Con Edison Solutions Joseph P. Oates, president and CEO, Con Edison Transmission Robert N. Hoglund, senior vice president and chief financial officer Jeanmarie Schieler, vice president and corporate secretary Robert Muccilo, vice president, controller and chief accounting officer Yukari Saegusa, vice president and treasurer Elizabeth D. Moore, senior vice president and general counsel Scott Sanders, vice president, Business Finance ConEd Solutions is a member of Real Estate Board of New York.
  10. 1989: A steam pipe explosion in Gramercy Park killed three, injured 24, and required the evacuation of a damaged apartment building due to high levels of asbestos in the air. Workers had failed to drain water from the pipe before turning the steam on. The utility also eventually pleaded guilty to lying about the absence of asbestos contamination, and paid a $2 million fine. 2004: In Manhattan, stray voltage killed a woman walking her dog in the East Village when she stepped on an electrified metal plate. 2006: After the blackout in Queens, the company was criticized by public officials for a poor record in the restoration of service to its customers. 2007: On July 18, an explosion occurred in midtown Manhattan near Grand Central Terminal when an 83-year-old Con Edison steam pipe failed, resulting in one death, over 40 injuries, as well as subway and surface disruptions. 2007: The day before Thanksgiving, an explosion critically burned Queens resident Kunta Oza when an 80-year-old cast iron gas main ruptured. Oza died on Thanksgiving Day, and her family later settled with Con Edison for $3.75 million. 2009: Another gas explosion claimed a life in Queens while Con Edison personnel were on the scene. There was a leak in a manhole and a fault in an electrical feeder at the same time. The fault in the feeder caused the explosion due to the sparks being generated. When the mechanic opened the manhole more oxygen entered and the explosion took place.[citation needed] Due to that event Con Edison has changed its procedure on outside gas leak calls. 2012:On October 29, flooding from Hurricane Sandy caused a transformer explosion at a Con-Ed plant on New York City's East Side. During the storm, Con Edison used social media to get outage and restoration information out to customers. The company’s Twitter account gained an extra 16,000 followers during the storm. Con Edison's subsidiary, Orange & Rockland Utilities, was criticized for its response to Hurricane Sandy. Some customers experienced a loss of electrical power for 11 days. 2014: On March 12, two apartment buildings exploded in East Harlem after a reported Con Edison gas leak. Eight people were killed in the massive explosion that reduced the conjoining buildings to rubble.
  11. Con Edison produces 30 billion pounds of steam each year through its seven power plants which boil water to 1,000 °F (538 °C) before distributing it to hundreds of buildings in the New York City steam system, which is the biggest district steam system in the world. Steam traveling through the system is used to heat and cool some of New York’s most famous addresses, including the United Nations complex, the Empire State Building, and the Metropolitan Museum of Art.
  12. The Con Edison gas system has nearly 7,200 miles (11,600 km) of pipes—if laid end to end, long enough to reach Paris and back to New York City, and serves Westchester County, the Bronx, Manhattan and parts of Queens and Westchester County. Gas service in Brooklyn, Staten Island and the rest of Queens is provided by National Grid USA's New York City operations, with the exception of the Rockaway peninsula, which is serviced by National Grid's Long Island operations. The average volume of gas that travels through Con Edison’s gas system annually could fill the Empire State Building nearly 6,100 times.
  13. The Con Edison electrical transmission system utilizes voltages of 138 kilovolts (kV), 345 kV, and 500 kV. The company has two 345 kV interconnections with upstate New York that enable it to import power from Hydro-Québec in Canada and one 345 kV interconnection each with Public Service Electric and Gas in New Jersey and LIPA on Long Island. Con Edison is also interconnected with Public Service Electric and Gas via the Branchburg-Ramapo 500 kV line. Con Ed's distribution voltages are 33 kV, 27 kV, 13 kV, and 4 kV. The 93,000 miles (150,000 km) of underground cable in the Con Edison system could wrap around the Earth 3.6 times. Nearly 36,000 miles (58,000 km) of overhead electric wires complement the underground system—enough cable to stretch between New York and Los Angeles 13 times.
  14. To date, Con Edison has invested $3 billion in solar and wind projects. In September 2017 it was announced that the company would invest $1.25 billion in “renewable energy production facilities over the next three years.” The company’s “renewable portfolio” contains more than 1.5 gigawatts of operating capacity. Seventy-five percent of that capacity comes from solar energy. Clean energy accounts for around eight percent of the company’s earnings, as of fall 2017.
  15. In 1823, Con Edison’s earliest corporate predecessor, the New York Gas Light Company, was founded by a consortium of New York City investors. A year later, it was listed on the New York Stock Exchange. In 1884, six gas companies combined into the Consolidated Gas Company. A sketch of an early power plant on Pearl Street The New York Steam Company began providing service in lower Manhattan in 1882. Today, Con Edison operates the largest commercial steam system in the world, providing steam service to nearly 1,600 commercial and residential establishments in Manhattan from Battery Park to 96th Street.[2] Con EdisonÂ’s electric business also dates back to 1882, when Thomas EdisonÂ’s Edison Illuminating Company of New York began supplying electricity to 59 customers in a square-mile area in lower Manhattan. After the “War of Currents”, there were more than 30 companies generating and distributing electricity in New York City and Westchester County. But by 1920 there were far fewer, and the New York Edison Company (then part of Consolidated Gas) was clearly the leader. In 1936, with electric sales far outstripping gas sales, the company incorporated and the name was changed to Consolidated Edison Company of New York, Inc. The years that followed brought further amalgamations as Consolidated Edison acquired or merged with more than a dozen companies between 1936 and 1960. Con Edison today is the result of acquisitions, dissolutions and mergers of more than 170 individual electric, gas and steam companies. On January 1, 1998, following the deregulation of the utility industry in New York state, a holding company, Consolidated Edison, Inc., was formed. It is one of the nationÂ’s largest investor-owned energy companies, with approximately $13 billion in annual revenues and $47 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and three competitive energy businesses. Under a number of corporate names, the company has been traded on the NYSE without interruption since 1824—longer than any other NYSE stock. Its largest subsidiary, Consolidated Edison Company of New York, Inc. provides electric, gas and steam service to more than 3 million customers in New York City and Westchester County, New York, an area of 660 square miles (1,700 km2) with a population of nearly 9 million. Â

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