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Techlife News #437

Read the most relevant news of the week about the world of technology and its influence on our lives. New products, Apps, acquisitions in the industry, highlights about the digital world and everything about your favorite iGadgets and upgrades. Everything you need to keep well informed. A new concept of light, intelligent, innovative reading at your fingertips. A global view of Tech LifeStyle and its influence on our lives.

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Ivan Castilho de Almeida
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2 minutos
las vegas movie exhibition cinemacon canceled due to virus

The annual movie exhibition and trade show CinemaCon has been canceled in Las Vegas due to coronavirus, scuttling one of Hollywood’s premier hype machines. The week-long conference, which brings together everyone from Hollywood studio executives and celebrities to movie theater owners and equipment and concession manufacturers, had been scheduled to begin March 30 at Caesars Palace. Theater owners, however, have not yet closed their doors. While cinemas have been shuttered in several other nations, including China, Italy and Poland, they remain open in North America. The cancellation was announced in a joint statement by John Fithian, president of the National Association of Theater Owners, and CinemaCon’s managing director, Mitch Neuhauser. “While local outbreaks vary widely in severity, the global circumstances make it impossible for us to mount the show that our attendees have come…

1 minutos
us wholesale prices fall 0.6%, biggest decline in 5 years

U.S. wholesale prices fell 0.6% in February, the biggest decline in five years, led by a sharp drop in energy costs. The Labor Department said the decline in its producer price index, which measures price pressures before they reach the consumer, followed a 0.5% rise in January. It was the sharpest decline since a similar 0.6% drop in January 2015. Core inflation, which excludes energy and food, was also down in February, dropping 0.3%. Over the past year, producer prices have risen a modest 1.3% and core prices are up just 1.4%. On Wednesday, the government had reported that consumer prices edged up a slightly 0.1% and are up 2.3% over the past year. The Federal Reserve seeks to manage monetary policy to hit its target of 2% annual increases in inflation. The central bank…

2 minutos
boeing shares suffer worst one-day drop since 1974

Boeing’s stock tumbled 18% on Wednesday, its biggest one-day percentage drop since 1974, and company leaders painted a sobering picture for the business in 2020. The Chicago-based company said it has imposed a hiring freeze in response to the virus outbreak that is undercutting air travel and threatening to kill airlines’ appetite for new planes. Boeing said it received 18 orders last month for new large planes, but 46 orders were canceled, most of them for the grounded 737 Max, leaving the company with a net loss of 28 orders in February. The company is also restricting employees’ travel and discretionary spending and limiting overtime to work on getting the Max back in flight. Shares of Boeing Co. fell below $200 for the first time since mid-2017, closing at $189.08. They have plunged 58%…

1 minutos
california man will plead guilty in fake modern art fraud

A Southern California man has agreed to plead guilty to trying to sell $6 million worth of phony paintings he claimed were created by Andy Warhol, Jean-Michel Basquiat and other modern masters, prosecutors said Tuesday. Philip Righter, 43, of West Hollywood acknowledged that he used some fakes as collateral for loans he never repaid and for phony income tax write-offs, according to the U.S. Attorney’s Office, which said the plea agreement was filed Tuesday in Los Angeles federal court. Righter tried to bilk victims out of $6 million and caused more than $758,000 in losses, along with more than $100,000 in costs to the federal government through tax fraud, prosecutors said. Richter sold the bogus artworks from 2016 through June of 2018, creating phony documents to back up his claims that they were…

3 minutos
saudi aramco to boost capacity; abu dhabi to increase supply

Saudi Arabia steamed ahead with its new energy play by directing the kingdom’s oil company Aramco on Wednesday to increase its maximum production capacity, while Abu Dhabi’s oil and gas company ADNOC followed suit by saying it was boosting output by 25% to 4 million barrels per day. Abu Dhabi’s decision to increase production comes after Saudi Arabia took steps to essentially flood the market to dominate a greater share, after major oil producer Russia refused to go along with more production cuts. Meanwhile, global demand for oil is slowing down due to the outbreak of a new virus that’s hampered travel and business. Saudi Arabia said this week it would increase its crude oil production to 12.3 million barrels a day starting in April. That’s 300,000 barrels per day more than…

2 minutos
china auto sales plunge in february amid virus shutdown

China’s auto sales plunged 81.7% in February from a year ago after much of the economy was shut down to fight a virus outbreak, an industry group reported Thursday, adding to problems for automakers already struggling with shrinking demand. Sales of SUVs, sedans and minivans fell to 224,000, according to the China Association of Automobile Manufacturers. Total vehicle sales, including trucks and buses, fell 79.1% to 310,000. Auto dealerships, cinemas and other consumer businesses were ordered to stay closed after the Lunar New Year holiday to help contain the virus that emerged in central China in December. Sales “fell sharply due to the severe impact of the new coronavirus epidemic,” a CAAM statement said. The government is easing controls in many areas to revive economic activity. Auto factories are reopening, but tens of millions…