Tuesday, August 30, 2016

The 15 most innovative countries in the world

The 15 most innovative countries in the world

swiss bank dave brunoDave Bruno, head of the innovation lab at Swiss bank UBS, poses with two tablet computers in his office in Zurich.Arnd Wiegmann/Reuters
Since 2008, Cornell University,INSEAD, and the World Intellectual Property Organizationhave released the annual Global Innovation Index.
Basically, it's a list of the most innovative countries in the world.
This year's winners are no strangers to the top of the list, dominating in seven general categories: research, infrastructure, institutions, market and business sophistication, and a commitment to knowledge and creativity.
The most innovative countries teach creatively, enforce progressive laws, do business intelligently, and live on the cutting edge.
Keep scrolling to find out which countries will lead us into the future.

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15. Canada — Over the last several years, Canada has become a well-respected country in tech, especially in cities like Montreal and Vancouver.

14. Hong Kong — Though it has dipped four spots since 2014, Hong Kong is playing an ever-expanding role in the world's economy.

14. Hong Kong — Though it has dipped four spots since 2014, Hong Kong is playing an ever-expanding role in the world's economy.
Bobby Yip/Reuters

13. Iceland — A country that's bouncing back from financial woes is making storage of the world's internet data its primary goal, coming in 13th for the second straight year.

13. Iceland — A country that's bouncing back from financial woes is making storage of the world's internet data its primary goal, coming in 13th for the second straight year.
Stringer/Reuters

12. Luxembourg — The tiny country's ranking comes from high scores in the trade, investment, and education categories.

12. Luxembourg — The tiny country's ranking comes from high scores in the trade, investment, and education categories.
Charles Platiau/Reuters

12. Republic of Korea — The Global Innovation Index says South Korea's greatest growth is in its booming research and development sector.

12. Republic of Korea — The Global Innovation Index says South Korea's greatest growth is in its booming research and development sector.
POOL New/Reuters

10. Germany — The country ranks at the top of the list's measurement of patent creation, and also has strong technology output, especially in automobile tech.

10. Germany — The country ranks at the top of the list's measurement of patent creation, and also has strong technology output, especially in automobile tech.
Ralph Orlowski/Reuters

9. Netherlands — With its strong online culture, the Netherlands ranks at the top of the survey's "e-participation" rankings (for interacting with the government online), and near the top in research and technology outputs.

9. Netherlands — With its strong online culture, the Netherlands ranks at the top of the survey's "e-participation" rankings (for interacting with the government online), and near the top in research and technology outputs.
Cris Toala Olivares/Reuters

8. Denmark — Denmark leads for its efficient system of government, large number of researchers in the country, and quality of education.

8. Denmark — Denmark leads for its efficient system of government, large number of researchers in the country, and quality of education.
Scanpix Denmark/Reuters

7. Ireland — Up three places in the ranking since 2014, Ireland is recognized for its infrastructure and creative outputs, like its thriving design culture.

7. Ireland — Up three places in the ranking since 2014, Ireland is recognized for its infrastructure and creative outputs,  like its thriving design culture.
Giuseppe Milo/Flickr

6. Singapore — One of the most consistently highly ranked countries, Singapore stands out for its political environment and ecological sustainability.

6. Singapore — One of the most consistently highly ranked countries, Singapore stands out for its political environment and ecological sustainability.
Edgar Su/Reuters

5. Finland — Hovering around the top five for the last several years, Finland is recognized for its successful work in technology, research, and higher education.

5. Finland — Hovering around the top five for the last several years, Finland is recognized for its successful work in technology, research, and higher education.
Lehtikuva Lehtikuva/Reuters

4. United States — The US jumped six spots since 2012, most notably due to the strength of its global-facing markets, value of stock trades, and widespread implementation of internet technology.

4. United States — The US jumped six spots since 2012, most notably due to the strength of its global-facing markets, value of stock trades, and widespread implementation of internet technology.
Carlo Allegri/Reuters

3. United Kingdom — Education and productivity hold the UK back, the Index says, while its well-roundedness in all other aspects keeps it ranked high overall.

3. United Kingdom — Education and productivity hold the UK back, the Index says, while its well-roundedness in all other aspects keeps it ranked high overall.
Toby Melville/Reuters

2. Sweden — Well-designed universities and high-achieving graduates have kept Sweden in the top 3 for the last five years.

2. Sweden — Well-designed universities and high-achieving graduates have kept Sweden in the top 3 for the last five years.
Gunnar Grimnes/Flickr

1. Switzerland — The country has been number one since 2011 because of its knowledge-based economy and ability to turn innovative thinking into lucrative projects. For example, local bank UBS is now using virtual reality to project investment portfolios to clients.

1. Switzerland — The country has been number one since 2011 because of its knowledge-based economy and ability to turn innovative thinking into lucrative projects.  For example, local bank UBS is now using virtual reality to project investment portfolios to clients.
Arnd Wiegmann/Reuters

Monday, August 29, 2016

Japan remains entrenched in deflation as core inflation falls to a 3-year low

Japan remains entrenched in deflation as core inflation falls to a 3-year low

inflationMatt Cardy/Getty Images
Japanese deflationary pressures intensified unexpectedly in July, heaping pressure on the Bank of Japan ahead of it’s highly anticipated monetary policy meeting in mid-September.
According to the government, core consumer price inflation (CPI) — that which excludes fresh food prices — fell by 0.5% in July compared to the levels of a year earlier.
The figure missed expectations for a decline of 0.4%, and was below the -0.4% rate seen in June. It was also the largest year-on-year fall since March 2013.
Japan Consumer Price InflationJapan Statistics Bureau
Suggesting that deflationary pressures will persist for sometime yet, core inflation in Tokyo — released one month ahead of the national figure — fell by 0.4% from a year earlier, the same level seen in July and bucking expectations for an increase to -0.3%.
So-called core-core inflation, stripping out price movements for volatile items such as food and energy, rose by 0.3% over the same period, below the 0.4% increase seen in June.
This reading is more akin to core CPI measures used in other advanced economies.
Overall headline inflation was unchanged at -0.4%.
The Japanese yen has barely budged following the release of the data, indicating that many traders believe the weak reading merely confirms the view that the BOJ will announce additional easing measures at its upcoming policy meeting.
As at 9.38am AEST, the USD/JPY currently buys 100.56, up 0.05% for the session.
Read the original article on Business Insider Australia. Copyright 2016. Follow Business Insider Australia on Twitter.

Oil prices dip as Saudi Arabia dampens prospects of output freeze

Oil prices dip as Saudi Arabia dampens prospects of output freeze

A fuel pump assistant stands next to an old fuel pump during the early hours near the village of Salwa at the Qatari-Saudi border, south of the eastern provience of Khobar, Saudi Arabia January 29, 2016. REUTERS/Hamad I MohammedA fuel pump assistant stands next to an old fuel pump during the early hours near the village of Salwa at the Qatari-Saudi border, south of the eastern provience of Khobar Thomson Reuters
By Henning Gloystein
SINGAPORE (Reuters) - Oil prices dipped in early trading on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month.
International benchmark Brent crude oil prices were trading at $49.55 per barrel at 2114 ET, down 12 cents from their previous close.
U.S. West Texas Intermediate (WTI) crude was down 7 cents at $47.26 a barrel.
Saudi Arabian Energy Minister Khalid Al-Falih told Reuters late on Thursday that "we don't believe any significant intervention in the market is necessary other than to allow the forces of supply and demand to do the work for us," adding that the "market is moving in the right direction" already.
Members of the Organization of Petroleum Exporting Countries (OPEC) will meet on the sidelines of the International Energy Forum (IEF), which groups producers and consumers, in Algeria from Sept. 26-28.
The minister's comments put a dampener on expectations of a meaningful intervention into the market which has been dogged by oversupply for more than two years.
(Reporting by Henning Gloystein; Editing by Richard Pullin)
Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

Cheap gas has Americans driving more than ever

Cheap gas has Americans driving more than ever

gas pumpGas is pumped into a car at the Eastcoast filling station Thursday, Dec. 18, 2014, in Pennsauken N.J. Matt Rourke
With the summer travel season more than halfway over and gas prices still quite low, U.S drivers have already logged a record-breaking number of miles traveled.
The nation's vehicles collectively logged 1.58 trillion miles in the first six months of this year, according to U.S. Department of Transportation (DOT) data.
That's up 3.3 percent from the same period last year.
It's also a record number of miles for the first six months of any year, notes  The Hill .
Between January and June 2015, U.S. drivers covered 1.54 trillion miles, which was its own record at the time.
In June of this year alone, drivers covered 282.3 billion miles, which represents a slight increase from June 2015, according to the DoT data.
The consistent increase in mileage is due to a number of factors, with cheap gas likely chief among them.
It's also worth noting that, when planning summer vacations, driving may be a more attractive option for some travelers than flying.
While long spells behind the wheel can be taxing, flying has gotten more annoying, painful, and pricey than ever.
Issues caused by airlines themselves are now the biggest cause of flight delays, notes Bloomberg.
Those include mechanical breakdowns and system glitches such as the computer failure that grounded thousands of Delta Airlines flights earlier this year,
That means that even with clear weather and manageable levels of traffic, travelers aren't guaranteed a timely flight.
At the same time, the average airline ticket buys precious few amenities, and flying requires submitting to tedious and time-consuming security checks.
But more miles traveled isn't necessarily as bad as it used to be. While U.S. drivers are logging more miles than ever, they still use less fuel than in previous decades.
New-car average fuel economy has declined somewhat in recent months due to increased sales of SUVs, but it remains far higher than it was a decade ago.
The average for July was 25.4 mpg, according to a running tally kept by University of Michigan Transportation Research Institute (UMTRI) researchers Michael Sivak and Brandon Schoettle.
That's up 5.3 mpg—or more than 25 percent—from October 2007, when the survey began.
Carmakers have consistently improved the rated fuel efficiency of virtually all new vehicles, solely in response to fuel-economy standards that increase continuously through 2025.
This story originally appeared on GreenCarReports .
Read the original article on Christian Science Monitor. Copyright 2016.

Amazon is opening another bookstore and this one is in Chicago

Amazon is opening another bookstore and this one is in Chicago

Amazon CEO Jeff BezosAmazon CEO Jeff BezosAP Photo/Reed Saxon
Amazon.Com  $771.29
AMZN+/-+2.29%+0.30
Disclaimer
Amazon's next bookstore will be in Chicago, showing the e-commerce giant's growing ambition in the physical retail space.
According to the Chicago Tribune, Amazon is planning to open its next bookstore in the Lake View region of Chicago by 2017. Amazon's first bookstoreopened in Seattle's upscale University Village mall last fall.
"We are excited to be bringing Amazon Books to Southport in Chicago, IL in 2017. Stay tuned for additional details down the road," Amazon's spokesperson told us in an email.
Chicago would be Amazon's fourth bookstore location, after Seattle, San Diego, and Portland. There are also rumors of a New York location being in the works.
This is the latest in the web company's expansion into brick-and-mortar retail. Amazon CEOJeff Bezos said in May that he "definitely" plans to open "additional stores," without specifying exactly where or what type of stores it'll be.
Recode's Jason Del Rey previously reported that Amazon is putting a lot more focus on its bookstore business, putting long-time exec Steve Kessel in charge of the whole operation. The team is planning to open stores that sell things other than books, although it's unclear what they will be, according to the report.
Amazon's bookstores are slightly different from the traditional stores. No prices are shown next to the items, because prices fluctuates based on the price online. Each book comes with a user review and ratings from the Amazon website. Amazon is even working on an app that lets you pay without having to go through a checkout counter, according to Re/code.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.

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