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Companies appear to be gaining market power

Companies appear to be gaining market power

Finance
COMPETITION forces companies to keep prices low to attract customers. But if a few firms become powerful enough, they can see off competitors and charge more. A new working paper by Jan De Loecker of the University of Leuven and Jan Eeckhout of University College London presents evidence that this is happening across the rich world.The researchers examine markups—selling prices divided by production costs. At 1, products are sold at cost; above 1, there is a gross profit. Using the financial statements of 70,000 firms in 134 countries, the authors find average markups rose from 1.1 in 1980 to 1.6 in 2016.America and Europe saw the biggest increases (see chart). But in many emerging markets markups barely rose. In China they fell. That suggests rich-world firms may have been able to i...
Napoli goalkeeper Pepe Reina to appear in front of disciplinary panel over association with individuals linked to the mafia

Napoli goalkeeper Pepe Reina to appear in front of disciplinary panel over association with individuals linked to the mafia

Sports
Reina in action for Napoli this season Monday, May 21, 2018 Former Liverpool goalkeeper Pepe Reina has been summoned to a hearing at the Italian Football Federation over his association with individuals linked to the mafia. The outgoing Napoli goalkeeper, who will join AC Milan next season, will face the FICG disciplinary committee alongside former Napoli stars Paolo Cannavaro and Salvatore Aronica. An investigation by Naples’ anti-mafia department named the three footballers in a report leading to the calling of the disciplinary panel. According to reports in the Italian media, it is one of the reasons why the Neapolitans decided not to renew Reina’s contract. The FIGC says Reina "has had and continues to have inopportune as...
Ant McPartlin WON'T appear in court tomorrow despite drink-drive charge

Ant McPartlin WON'T appear in court tomorrow despite drink-drive charge

Entertainment
The planned court hearing has been delayed.In a statement,Wimbledon Magistrates Court said: "A adjournment in this case has been agreed, therefore Ant McPartlin will not be appearing at Wimbledon Magistrates’ Court, on Wednesday 4th April 2018."The new date of hearing has not yet been confirmed."Last month, Ant, 42, was arrested after crashing his Mini into two cars as he headed home from walking his dog Hurley.PATROUBLED: Ant McPartlin is currently in rehabWENNDELAYED: Ant McPartlin's court hearing has been delayedAnt and Dec's Saturday Night Takeaway's best moments See the funniest moments on the best loved show Ant and Dec's Saturday Night Takeaway.WENN Ant and Dec perform with Kylie Minogue on Ant and Dec's Saturday Night Takeaway “A adjourn
Some species more vulnerable to climate change than they appear

Some species more vulnerable to climate change than they appear

Science
Nov. 22 (UPI) -- Research suggests some species are more vulnerable to climate change they appear.In analyzing the ecosystems within tidal pools and shallow waters along the West Coast, researchers realized beds of mussels and seaweed provide protection against climate change for a variety of small marine species.According to the latest research -- published this week in the journal Ecology Letters -- seaweed and mussel beds essentially offer air conditioning to the communities of species they shelter. As a result, many species as far south as Southern California and as far north as Puget Sound have experienced equally minimal amounts of heat stress.Cursory evaluations might suggest these species are resilient to climate change or able to adapt to dramatic temperature variation, but in rea...