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[Misc] 2018 Reuters News - June 25 ~ June 29
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Beer makers set for World Cup kick
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Bookmakers are tipping Brazil or Germany to win the World Cup. And the other winners are beer makers. 2-3 percent more beer gets drunk in a host country during a World Cup year, according to Morgan Stanley which looked at the previous four hosts. Carlsberg, the market leader in Russia, is likely to be a top scorer, along with Budweiser-maker ABInBev. It's an official sponsor and also estimates a ¨ö to 1 percent sales boost in soccer-mad Argentina and Brazil. As for the losers – financial trading may take a hit. "Most dealing rooms do have televisions which will be switched onto the World Cup games during the coverage and inevitably people will particularly in games that are involving their own countries find that there is an interest in an attraction in watching the television rather than catering business and trading." Two thirds of the 64 games in this year's tournament will be played during European or Latin American trading hours. That's similar to the 2010 World Cup in South Africa where trading volumes apparently dropped by an average of 55 percent when the country's team was playing. It could be different this time though with more automation and perhaps more professionalism. "It is far simpler to trade than it used to be. So I think that this myth that markets grind to a halt during any time that England takes the field, that's no longer the case." But results may have an impact. One survey showed going out of the World Cup can knock 50 basis points off a national index the next day. While winning can see an index outperform a global benchmark by an average of 3.5 percent for as long as a month. 

Elon Musk's Boring Co to build high-speed commuter system in Chicago
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Chicago has selected billionaire entrepreneur Elon Musk's Boring Co to build a high-speed underground commuter system. It¡¯ll connect the downtown Loop district with O'Hare International Airport. It will include 16-passenger vehicles called "skates" traveling up to 150 miles an hour through a tunnel. The trip will take 12 minutes, down from up to 45 minutes now. Boring said it will cost less than half of a taxi or ride share price, but more than on the current train system. The skates will leave every 30 seconds and the system will operate 20 hours a day, seven days a week. Boring said the project will be funded by the company with no taxpayer subsidies. Phoenix Group's Max Wolff: "Sure, look. It's an amazing opportunity here. I think it's going to be a prototype. Lots of American cities have noticed a re-concentration of population in urban areas, and there tends to be bad bottlenecks around moving people between airports and city hubs because our airports are pretty distant from our city hubs in America. So, very lucrative if you can wash and repeat this many times which you should be able to do. And a lot of kind of surprises here because they were the least experienced bidder, and they're going to get paid to learn how to do this." Musk unveiled a similar plan for Los Angeles last month. Both projects come as Musk wrestles with production problems involving Tesla's mass market sedan, the Model 3. Some investors are concerned his leadership roles at Boring and his rocket-building firm SpaceX have spread him too thin. 

Microsoft unveils 50 games at E3
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Microsoft unveiled its new video games at the E3 conference in Los Angeles Sunday. It's showing 50 new games at the show like the latest version of "Halo Infinite". More than a third of those are exclusives for Microsoft's console, the Xbox, which has been trailing Sony's PlayStation 4 in sales. Xbox chief Phil Spencer said the company is also forming a new studio: "I'm proud to introduce the creation of a brand new Microsoft studio: The Initiative, led by Daryl Gallagher, a visionary storyteller who has worked across some of the most iconic franchises for over 20 years." He said it would operate like an independent studio to foster creativity and innovation in creating content. Morgan Stanley analyst Keith Weiss says investors have undervalued Microsoft's gaming business. He notes its shift from hardware and one-time video game sales to subscription services should set it up for the future of gaming.

Apple to make 20 pct fewer iPhones - Nikkei
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Apple expects to ship 80 million new model iPhones it's launching in the second half of 2018. That's 20 percent fewer than what it had planned at the same time last year for its iPhone X and iPhone 8 models, according to the Japanese daily, Nikkei. Apple has already asked its suppliers to make less components. The company did not immediately respond to a request for comment. Its shares as well as those of its suppliers fell on the news. Reuters reporter Stephen Nellis is covering the story: "Well, what I make of it is it's getting harder and harder to tell what exactly is going on with Apple by tracking its supply chain. The real problem here is that Apple used to have one, two, or three models of phones, so you could go to a relatively small number of suppliers, kind of feel things out, and have a pretty good idea of where the company's performance was going ahead. Now they have nine phones from $350 to a $1000. Lots of different models and depending on who's supplying various things for different models, things can look really different." Analysts say the high $1,000 price of the iPhone X is muting demand. And, as improvements made to the iPhone each year are marginal, there is not much of an incentive for customers to pay for upgrades. In the meantime, Apple's market value has continued to rise and is now close to hitting $1 trillion. 

Virtual Reality to take the hospital pains away?
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This isn't a Japanese garden. It's actually a French hospital, the latest clinic experimenting with virtual reality headsets to help patients through otherwise very stressful visits. "A bit like a hypnosis technique, which is another way to lower doses of anesthetics or painkillers and to offer patients more comfort, especially those with anxiety." The concept is straightforward: It distracts you from the pain or nervousness. And here at Saint-Joseph hospital in Paris it's being used with relatively simple treatments like fixing a dislocated shoulder or the unpleasant procedure of having a urinary catheter inserted. VR headsets are being used at several hospitals in the United States already, including Mount Sinai in Los Angeles. But it's a new concept here in France. Saint-Joseph believes it will become commonplace within a decade.