None of this makes recent numbers any more tolerable, really. Closings and the subsequent job loss in any situation are horrible. But the MPA is attempting to take a big-picture view and attach the numbers to the economy rather than a specific loss of consumer interest, which would be really bad.PIB revenue declines, for example, occurred only in recession years. ABC average circ dropped during these same periods, but by far lower percentages. Therefore, concludes MPA, advertising is the “dominant factor in magazine closings.”Yet looking at the Ulrich numbers only makes things more confusing. Yes, 2000 and 2001 saw unprecedented closure rates—125 and 166, respectively—but that recession period was an anomaly, if anything. The years between the indicated 1991 to 1992 and 2008 recession years experienced much higher closure rates, and are comparatively high even to 2000 and 2001 standards.In other words, Ulrich’s numbers don’t necessarily jibe with the idea that closures are tied to a recession—there are lots of closings every year. As I mentioned earlier, 2006, not a recession year, had 104 magazine closings—twice as many as last year.Plus, it would make a lot more sense to dig deeper and examine the kinds of magazines that close. Say, big mass-market mags versus smaller niche enthusiast titles. The MPA wants to make a few things clear about the unfortunate string of magazine closures we’ve been experiencing.It’s the economy, stupid. That’s not what they said, exactly, but they’d like to remind everyone that the readers are still there—it’s the advertisers that are jumping ship. A data sheet posted on MPA’s site in early August attempts to point out that consumer interest, via circ levels, is maintaining while advertising declines correspond with shutdowns.Also, last year wasn’t all that bad compared to other years. In fact, we didn’t even come close to 2000-2001 levels.The MPA cites closure metrics from Ulrich’s Periodicals Directory. Apparently, there were 54 magazines closed in 2008, which is 11 less than 2007 and, interestingly, 50 less than 2006, which was the peak for mag closings after 2001.
Formerly known as the Google Home Hub, Google’s Nest Hub packs a wealth of Google Assistant goodness into a 7-inch screen. At $59, this is within a buck of the best price we’ve seen. It lists for $129 and sells elsewhere in the $89-to-$99 range.This is one item of many available as part of eBay’s Labor Day Sale (which, at this writing, doesn’t specifically mention Labor Day, but that’s how it was pitched to us). 8 Spotify and most other streaming services rely on compressed audio, which robs the listener of full fidelity. Enter Tidal, the only “major” service that delivers lossless audio — meaning at least on par with CD quality, if not better. Want to see (er, hear) the difference for yourself? Grab this excellent extended trial while you can. It’s just $6 for three months, and it’s good for up to six listeners. Comments An Echo Dot makes a fine match for any Fire edition TV, because you can use the latter to say things like, “Alexa, turn on the TV.” Right now, the 24-inch Insignia Fire TV Edition starts at just $100, while the 32-inch Toshiba Fire TV Editions is on sale for $130. Just add any Fire TV Edition to your cart, then add a third-gen Echo Dot, and presto: The latter is free. Chris Monroe/CNET Comments Tags Apple AirPods with Wireless Charging Case: $155 (save $45) Share your voice $999 $90 at Daily Steals via Google Express The problem with most entry-level laptops: They come with mechanical hard drives. That makes for a mighty slow Windows experience. This Lenovo model features a 128GB solid-state drive, so it should be pretty quick to boot and load software, even with its basic processor. Plus, it has a DVD-burner! That’s not something you see in many modern laptops, especially at this price. The Cheapskate Free Echo Dot with an Insignia or Toshiba TV (save $50) Share your voice Best Buy $155 at Google Express Sarah Tew/CNET Sprint Lenovo Smart Clock: $59.99 (save $20) Recently updated to include digital-photo-frame capabilities, the Lenovo Smart Clock brings Google Assistant goodness to your nightstand. It’s a little smaller than the Amazon Echo Show 5, but also a full $30 less (and tied with Prime Day pricing) during this Best Buy Labor Day sale. Use promo code 19LABOR10 to get an unusually good deal on JBL’s interesting hybrid product — not quite headphones, and not quite a traditional speaker, but something you wear like neckphones to listen to music on the go. See it Read DJI Osmo Action preview Turo is kind of like Uber meets Airbnb: You borrow someone’s car, but you do all the driving. I’ve used it many times and found it a great alternative to traditional car-rental services — in part because you get to choose exactly the vehicle you want (not just, say, “midsize”) and in part because you can often do pickup and dropoff right outside baggage claim.Between now and Sept. 1, the first 300 people to check out can get $30 off any Turo rental with promo code LDW30. Review • iPhone XS review, updated: A few luxury upgrades over the XR CNET may get a commission from retail offers. $999 Computers Gadgets Tablets Computer Accessories,I’m shocked — shocked! — to learn that stores are turning Labor Day into an excuse to sell stuff. Wait — no, I’m not. As much as I respect the original intent of the holiday (which became official back in 1894), to most of us, it’s just a bonus day off — one that’s blissfully tacked onto a weekend. So, yeah, stores; go ahead, run your sales. I’m listening. Perhaps unsurprisingly, Labor Day doesn’t bring out bargains to compete with the likes of Black Friday (which will be here before you know it), but there are definitely some sales worth your time.For example:We’ve rounded up the best Labor Day mattress deals.We’ve also gathered the best Labor Day laptop deals at Best Buy.The 2019 Vizio P Series Quantum is back under $999.Be sure to check out Amazon’s roughly three dozen Labor Day deals on TVs and audio. Google Express is having a big sale as well, one that includes deals on game consoles, AirPods, iPhones, laptops and more.Below I’ve rounded up a handful of individual items I consider to be the cream of the crop, followed by a handy reference guide to other Labor Day sales. Keep in mind, of course, that products may sell out at any time, even if the sale itself is still running. Note that CNET may get a share of revenue from the sale of the products featured on this page. I thought this might be a mistake, but, no, the weirdly named HP Laptop 15t Value is indeed quite the value at this price. Specs include an Intel Core i7 processor, 12GB of RAM, a 256GB solid-state drive and a 15.6-inch display. However, I strongly recommend paying an extra $50 to upgrade that display to FHD (1,920×1,080), because you’re not likely to be happy with the native 1,366×768 resolution. $6 at Tidal Read the AirPods review Tidal 3-month family subscription: $5.99 (save $54) Other Labor Day sales you should check out Best Buy: In addition to some pretty solid MacBook deals that have been running for about a week already, Best Buy is offering up to 40% off major appliances like washers, dryers and stoves. There are also gift cards available with the purchase of select appliances. See it at Best BuyDell: Through Aug. 28, Dell is offering an extra 12% off various laptops, desktops and electronics. And check back starting Aug. 29 for a big batch of Labor Day doorbusters. See it at DellGlassesUSA: Aug. 29 – Sept. 3 only, you can save 65% on all frames with promo code labor65. See it at GlassesUSALenovo: The tech company is offering a large assortment of deals and doorbusters through Labor Day, with the promise of up to 56% off certain items — including, at this writing, the IdeaPad 730S laptop for $700 (save $300).See it at LenovoLensabl: Want to keep the frames you already love and paid for? Lensabl lets you mail them in for new lenses, based on your prescription. From now through Sept. 2 only, you can save 20% on the blue light-blocking lens option with promo code BLOCKBLUE. See it at LensablSears: Between now and Sept. 7, you can save up to 40% on appliances (plus an additional 10% if you shop online), up to 60% on mattresses, up to 50% on Craftsman products and more. The store is also offering some fairly hefty cashback bonuses. See it at SearsNote: This post was published previously and is continuously updated with new information.CNET’s Cheapskate scours the web for great deals on tech products and much more. For the latest deals and updates, follow the Cheapskate on Facebook and Twitter. Questions about the Cheapskate blog? Find the answers on our FAQ page, and find more great buys on the CNET Deals page. See all the best laptops of CES 2019 DJI’s answer to GoPro’s action cameras is rugged little model that’s shockproof, dustproof and waterproof down to 11 meters. It normally runs $350, but this deal drops it to $261 when you apply promo code 19LABOR10 at checkout. Mentioned Above Apple iPhone XS (64GB, space gray) Rylo 5.8K 360 Video Camera: $250 (save $250) Though not technically a Labor Day sale, it’s happening during Labor Day sale season — and it’s too good not to share. Nationwide Distributors, via Google Express, has just about the best AirPods deal we’ve seen (when you apply promo code ZBEDWZ at checkout). This is for the second-gen AirPods with the wireless charging case. Can’t imagine these will last long at this price, so if you’re interested, act fast. Best laptops for college students: We’ve got an affordable laptop for every student. Best live TV streaming services: Ditch your cable company but keep the live channels and DVR. JBL Soundgear wearable speaker: $90 (save $160) See at Amazon Now playing: Watch this: Turo Sarah Tew/CNET 7 Rylo DJI Osmo Action camera: $261 (save $89) $520 at HP Turo: Save $30 on any car rental Read the Rylo camera preview $299 at Amazon What’s cooler: A snapshot of a firework exploding in front of you, or full 360-degree video of all the fireworks and all the reactions to seeing them? Oooh, ahhh, indeed. At $250, the compact Rylo dual-lens camera is selling for its lowest price yet. And for an extra $50, you can get the bundle that includes the waterproof housing.This deal runs through Sept. 3; it usually costs $500. Read Google Home Hub review TVs Speakers Mobile Accessories Cameras Laptops Automobiles Smart Speakers & Displays Preview • iPhone XS is the new $1,000 iPhone X Angela Lang/CNET $261 at Daily Steals via Google Express $59 at eBay $999 See It $999 Read Lenovo Smart Clock review See It See It See at Turo HP Laptop 15t Value: $520 (save $780) Sarah Tew/CNET $60 at Best Buy Apple iPhone XS Lenovo 130-15AST 15.6-inch laptop: $210 (save $90) Boost Mobile Google Nest Hub: $59 (save $70) $210 at Best Buy 17:56 Tags Well, that’s one PC out there, at least. Sarah Tew/CNET The long retreat continues for the PC market.In 2019, sales of computing devices, including desktops, laptops and tablets, are expected to drop 3.3 percent around the world, according to a new forecast from market researcher IDC. That continues a trend that’s been going on for years now.The computing device market will shrink to 372.6 million shipments in 2023, according to IDC’s release. Detachables, notebooks and mobile workstation will increase their market share in the next five years. “While the long-run [personal computing device] market remains in persistent decline, the constitution of the market continues to churn for the better,” said Linn Huang, research director for devices and displays at IDC, in the release. “And with ray-tracing ramping up and 5G-connected, dual-screen, and foldable devices on the not-too-distant horizon, consumers and professionals will likely find something compelling at the premium end.” Sarah Tew/CNET Amazon
Asian shares fell within sight of a fresh 1-1/2 year low while commodity currencies such as the Malaysian ringgit fell further on Monday after Chinese data highlighted a deepening slowdown in demand in the world’s industrial powerhouse.News of another monthly decline in Chinese exports – its biggest fall in four months – and a collapse in producer prices shows how China’s faltering industrial demand has hit global trade and sent emerging market assets reeling.MSCI’s broadest index of Asia-Pacific shares outside Japan edged lower and held near a 1-1/2 year low hit last month. It has fallen 16 percent since May.”The markets are beginning to price in structurally lower growth in China and an end to the so-called commodity super-cycle,” said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management.While economists have long predicted a slowdown in the pace of China’s economic expansion after years of turbocharged growth, investors have been taken aback by the scale of the slowdown and the impact it has had on emerging markets.In the six months to May, world trade volumes have shrunk by around 4 percent annualized, a pace of decline that hasn’t been seen since the global recessions of 2001 and 2009, according to BNP Paribas economists. Much of that decline this year has been caused by a sustained slowdown in China.Emerging market equities have been among the hardest hit as companies struggle to deal with the China factor.Year to date, MSCI’s Asia ex-Japan index is down nearly 7.5 percent in U.S. dollar terms compared to a flat performance from its U.S. counterpart, according to Thomson Reuters data.Though early days yet, corporate earnings in Asia have so far only confirmed that trend.Of the nearly 32 percent of the companies in MSCI Asia-ex Japan index reporting results so far, more than half have led to downgraded estimates for their earnings per share, according to Credit Suisse strategists.China’s slowdown comes at a particularly sensitive time for emerging markets as expectations that the U.S. Federal Reserve will end nearly a decade of its zero interest rates soon have gained momentum in recent weeks, dealing a further blow to emerging market currencies and commodities.Malaysia’s ringgit hit at a 17-year low as its foreign exchange reserves fell below the $100 billion mark while leveraged funds have increased their short bets on other commodity-linked currencies such as the Canadian dollar and the Australian dollar in recent days.Recent data have confirmed the economic recovery underway in the United States.The U.S. Department of Labor said on Friday employers added 215,000 jobs in July, only slightly below a Reuters poll while the unemployment rate held at a seven-year low of 5.3 percent, with signs that wages were beginning to pick up.On Wall Street the Dow Jones industrial average fell 0.3 percent, hitting a six-month low. The S&P 500 shed also about 0.3 percent.Prospects of higher U.S. interest rates have made the dollar more attractive to investors with the U.S. dollar index, which tracks the greenback’s performance versus a basket of currencies, rising after the U.S. jobs data o 98.334, its highest since late April, before turning lower. On Monday, it stood at 97.670.The euro traded at $1.0957 while the yen was 124.35 to the dollar.Oil prices kept sliding on the global slowdown, a U.S. gasoline glut and a rise in the U.S. oil rig count.Crude futures prices fell to fresh multi-month lows early on Monday. Brent fell to $48.26 per barrel, not far from a six-year low of $45.19 hit in January.The 19-commodity Thomson Reuters/Core Commodity CRB Index plumbed fresh lows not seen since 2003 with a year-to-date decline of nearly 14 percent.
Investors may witness another year of high volatility in stock markets in 2016 as a slew of negative factors could lead to further selling by overseas investors.Factors such as interest rate hike in the US, rupee depreciation and delay in reforms that resulted in aggressive of shares by foreign investors this year are also expected to rattle markets in the coming year.However, mid- and small-cap stocks will continued to be favoured by domestic investors next year until they realise the rally in the stocks is overdone.The sell-off, driven mainly by these factors, in domestic stock markets so far in 2015 has made benchmark indices head towards registering their worst yearly performance in four years. Foreign institutional investors (FIIs) have sold shares worth Rs 30,000 crore since June.Both the BSE Sensex and Nifty indices, which have hit all-time highs earlier this year, are mostly to end 2015 at nearly 5% below the closing levels on the last trading day in the previous year. The Sensex gained nearly 30% in 2014 when investors’ optimism on the Narendra Modi government was at its peak.Analysts expect FII selling to continue in 2016 largely due to concerns over additional monetary tightening in the US that could lead in weakening of rupee against the dollar.”We expect equity and currency markets to remain volatile in 2016 because of liquidity adjustment post US Federal Reserve rate hike and global economic slowdown,” The Economic Times quoted Rashesh Shah, chairman of the Edelweiss Group, as saying.Signs of slowdown in China and its authorities opting for yuan devaluation are also expected to weigh on investor sentiment. But passing of reforms by the government to boost business environment in the country may mitigate the impact of FII-selling in the markets.The Modi government was forced to delay the passage the Goods & Services Tax (GST) Bill in the past three sessions of Parliament, as it got struck in Rajya Sabha, where the BJP-led NDA does not have a majority.”If the GST Bill does not get passed within the first few months of the coming calendar (year), it will be a very bad sign and we would not want to increase our India allocation. But if it is passed, we would probably want to double our weight on India,” said Mark Mobius, executive chairman, Templeton Emerging Markets Group, Franklin Templeton Investments.”Stock-specific approach to markets will continue to work in 2016,” said Nilesh Shah, managing director at Kotak Mahindra Asset Management Co. “It’s not what the asset class is going to do, it’s what you do within that asset class in terms of picking stocks that’s going to give returns.”
The crisis-hit firm said it was moving for bankruptcy protection after its attempts to pare Rs 42,000 crore debt failed despite attempts over the last 18 months to sell assets and negotiate with the lenders.While RCom investors saw the share price tanking, other Reliance companies also faced heavy selling pressure. Reliance Capital dropped 20 percent, Reliance Power plunged 35 percent and Reliance Naval and Engineering Ltd. fell 15 percent on Monday. Airtel vs Reliance Jio: Which network is faster in India? File photo of Chairman of Reliance Industries Ltd Mukesh Ambani speaking as his brother Anil Ambani watches in 2004. A dispute between the siblings over dues to Department of Telecommunications has stalled a spectrum deal between the companies of the siblings.ReutersReliance Communications (RCom) shares came crashing like nine pins on Monday after the Anil Ambani-led company filed for bankruptcy in the face of inability to resolve mounting debt. And it’s clear that Anil Ambani’s pain is brother Mukesh Ambani’s gain, in many ways.The fierce tariff war launched by Mukesh Ambani’s Reliance Jio was one of the reasons behind the unravelling of Reliance Communications, an earlier entrant to the telecom sector than Reliance Jio.RCom, which was racing against time to settle debt amounting to more than Rs 42,000 crore, was banking on a potential spectrum sale to Jio. The company finally took the bankruptcy route after legal wrangles prevented a timely conclusion of the sale process.Now that RCom has initiated bankruptcy proceedings, the plan to sell spectrum and towers to Mukeh Ambani-led Reliance Jio would stand cancelled.However, when the debt resolution process restarts under the interim resolution professionals, Reliance Jio would be able to bid for RCom assets again, at a cheaper price. Thus it turns out that RCom’s spectacular undoing is a straightway gain for Reliance Jio.For debt-laden RCom, which decided to wind up its wireless business in December 2017, the sale of spectrum to Mukesh Ambani-controlled Reliance Jio was crucial for survival. The Supreme Court had approved the sale on 30 November subject to conditions. However, protracted legal wrangles delayed the deal, effectively leading the failed firm to choke up finally.Group companies take hitThe spectrum sale to Jio, which would have brought nearly Rs 18,000-crore to the debt laden company, floundered after RCom’s creditors demanded payment ahead of the sale.Now, Mukesh Ambani can bid for RCom assets as the supreme court relaxed rules in January, allowing family members to bid for assets of a company going through insolvency. Reliance Communications chairman Anil Ambani with his son Anmol Ambani during Reliance Capital’s annual general meeting (AGM) in Mumbai, on Sept 26, 2016.IANSAnd, with the fortunes of RCom dwindling, the assets would come at a cheaper price. “The value of RCom if it goes into liquidation will be destroyed and with this sword hanging, the bidders may negotiate harder in the insolvency process with creditors and bring down prices,” Apurva Jayant, a partner at law firm L&L Partners, told Bloomberg.Shares of Reliance Communications Ltd, which was once India’s No. 2 wireless carrier, plumbed the depths on Monday, crashing at one point more than 50 percent on the National Stock Exchange. Close