UK inflation set to reach 4% next year

Consumer price inflation in the UK is set to accelerate next year, according to the National Institute of Economic and Social Research (NIESR).

The think tank said on Wednesday that it expects the UK economy to grow by 2% in 2016 before slowing to 1.4% in 2017. With the planned triggering of Article 50 in March, formally launching the Brexit process, there are downside risks to next year’s outlook, the think tank added.

Meanwhile, there are signs of “substantial impending inflationary pressure”, much of which is driven by the dramatic fall in sterling.

As this depreciation is passed through to consumer prices, NIESR expects consumer price inflation to accelerate rapidly, reaching a peak of around 4% in the second half of 2017. The think tank warned that this will impact on real disposable income.

“Households have really got a choice. Do they spend less or do they start saving less?” Dr Angus Armstrong, director of macroeconomics at NIESR, told BBC Radio 4’s Today programme.

A separate report on Wednesday showed that high-street prices have not yet started rising.

The British Retail Consortium (BRC) found that overall shop prices were down 1.7% year-on-year in October, compared with a 1.8% decline in September. This was the smallest decrease in prices since July.

Food prices in October were 1.2% lower than a year earlier, compared with a 1.3% fall in the year to September.

The BRC expects shop price deflation to move closer to zero at the turn of the year and said that it could move into inflationary territory at some point during the first half of 2017.

Helen Dickinson, BRC chief executive, said:

“While we know that the devaluation of sterling since the Brexit vote is stoking inflationary pressures, the good news for consumers is that retailers have been successful in managing this to date and there is still no impact visible in shop prices. However, it is inevitable that imported inflation will begin to make its mark and we would expect to start to see this effect coming through in the first quarter of 2017.”

Hawthorne Global acquires Bama Air FBO in Tuscaloosa

Hawthorne Global Aviation Services has acquired Bama Air, a Tuscaloosa, Ala. FBO at Tuscaloosa Regional Airport (KTCL), the company said.

The operation has more than 75,000 square feet of hangar space and a 5,000 square foot passenger terminal. It features a spacious lobby complete with a fireplace, wall mounted widescreen TV, wireless internet access, meeting room facilities and flight planning.

Hawthorne Global Aviation Services is a provider of general aviation services, dating back to 1932. Hawthorne operates five premier fixed based operators (FBO) located at L.I. MacArthur Airport, NY (KISP); Cobb County International Airport in Atlanta, Ga. (KRYY), Chicago Executive Airport in Chicago, Ill. (KPWK), Chippewa Valley Regional Airport in Eau Claire, Wis. (KEAU) and Tuscaloosa Regional Airport in Tuscaloosa, AL (KTCL).

Universal Aviation opens location in Dominican Republic

Universal Aviation, the worldwide ground support division of Universal Weather and Aviation, Inc. has expanded its global network with the opening of Universal Aviation Dominican Republic at La Romana International Airport (MDLR), the company said.

Based at the MDLR Executive Aviation Terminal, Universal Aviation Dominican Republic is the network´s 18th location in Latin America and the Caribbean and its 65th location worldwide.

Universal Aviation Dominican Republic is coordinating ground handling operations at MDLR, including managing arrangements and facilitating any changes or last-minute requests.

Universal Weather and Aviation, Inc. is a privately held company headquartered in Houston, Texas that provides products and services for the general aviation industry. The company offers products and services including international flight planning and scheduling, weather briefings, fueling programs, aircraft ground handling, and aviation security.

Playing Forward launches augmented-reality, virtual-reality platform for Kids

Education developer Playing Forward, with content from Stan Lee´s Kids Universe, has launched a new interactive platform, “The VROOM,” a kid-centric app universe powered by Augmented Reality and Virtual Reality, the company said.

The VROOM works on Apple, Android, and Windows 10 and is built to run on smartphones as easily as on tablets.

The VROOM´s initial round of immersive activities and experiences will be offered at no charge and include 3D animated stories and interactive adventures from premiere Playing Forward partners, including Dex T-Rex, a virtual pop-up book from Stan Lee´s Kids Universe.

Augmented reality and virtual reality will multiply the fun-factor for kids while making best use of kids´ daily allowance of screen time through games and stories that promote empathy, problem-solving abilities, personal resilience, and the management of emotions–what educators call “social-emotional learning” (SEL).

Stan Lee´s Kids Universe properties can be found as picture books, interactive and digital books, graphic novels, augmented and virtual reality projects, mobile games, and mobile apps. An expansion of Stan Lee´s Kids Universe into the world of film and television is already underway.

The VROOM´s app can be downloaded for free at Apple´s App Store and Google Play by searching PF VROOM.

Liquid Robotics, Boeing demo maritime warfare capabilities before British Royal Navy

Liquid Robotics and Boeing (NYSE: BA) have demonstrated a network of persistent USVs to detect, report and track a live submarine in a naval demonstration, the company said.

Four Sensor Hosting Autonomous Remote Craft (SHARCs) were deployed off the coast of Northern Scotland during the British Royal Navy´s Unmanned Warrior 2016 demonstration. The autonomous surface vehicles used advanced Boeing acoustic sensors in the live anti-submarine warfare (ASW) mission.

Over the two-week demonstration, the SHARCs detected and tracked an advancing unmanned underwater vehicle and a manned diesel submarine. The SHARCs provided detailed and actionable intelligence to commanders through more than 100 automated contact reports, proving the USVs efficacy to autonomously conduct ASW missions and exchange data in real time.

Liquid Robotics designs and manufactures the SHARC (Sensor Hosting Autonomous Remote Craft) Wave Glider platform. The Wave Glider and SHARC are wave and solar-powered unmanned surface vehicles.

Lexmark declares USD0.36 dividend

Lexmark International (NYSE: LXK) has declared a quarterly cash dividend of USD0.36 per share of Lexmark Class A Common Stock.

The dividend is payable on Dec. 16, 2016, to shareholders of record as of the close of business on Dec. 2, 2016.

In the event the closing of the acquisition of Lexmark by a consortium of investors led by Apex Technology Co., Ltd. and PAG Asia Capital (the Consortium) occurs prior to the record date, no quarterly cash dividend will be paid.

Lexmark creates enterprise software, hardware and services that remove the inefficiencies of information silos and disconnected processes, connecting people to the information they need at the moment they need it.

Delta, Virgin Atlantic expand cooperation with Jet Airways for US/India passengers traveling via London Heathrow

Delta Air Lines (NYSE: DAL) and Virgin Atlantic have expanded cooperation with Jet Airways to provide codeshare connections for customers between destinations across North America and India via London Heathrow, the companies said.

Customers flying between North America and India on either of the two airlines will be able to connect with Delta codeshare onto Jet Airways´ flights to Mumbai and Delhi via London Heathrow and onward to 20 destinations within India.

Delta Air Lines serves nearly 180 million customers each year. Delta and the Delta Connection carriers offer service to 319 destinations in 57 countries on six continents.

Jet Airways is an India-based international airline operating flights to 73 destinations, including 51 in India and 22 across the world. The Jet Airways Group operates a fleet of 115 aircraft.

Virgin Atlantic flies to 33 destinations worldwide, with a fleet of 39 aircraft, comprised of Boeing 747s, Boeing 787s, Airbus A340-600s and A330-300s.

Latest Chelsio T6 adapters show lowest UDP, TCP, RDMA over Ethernet latency

Chelsio Communications, Inc. has released preliminary results on low latency testing of its latest-generation Terminator 6 (T6) adapters, the company said.

Chelsio Unified Wire adapters fully offload all protocol traffic, providing no-compromise performance for the range of leading operating systems, including Windows Server 2016, VMware ESXi 6.0, and RedHat Enterprise Linux 7.

Chelsio T6 100GbE adapters demonstrate a user mode UDP latency of 1.6 micro-second and user mode TCP latency of 1.5 micro-second using its WireDirect software suite, both numbers representing industry record performance.

Chelsio WireDirect provides direct network access to user-space, is binary compatible with existing TCP and UDP socket applications, and is also available in full source code form. User mode UDP showed 4.25 million messages/second with excellent jitter profile and no dropped packets. User mode TCP similarly demonstrated 2.8 million messages/second with nearly zero packet jitter, thanks to the use of T6´s offload engine.

Chelsio T6 100GbE adapters also offer the industry´s lowest RDMA over Ethernet (iWARP) latency at 1.2 micro-second user-space to user-space, with true kernel bypass, zero copy, and processing fully offloaded to the server adapter resulting in very low CPU utilization.

Chelsio provides Ethernet adapters for networking and storage within virtualized enterprise datacenters, public and private hyperscale clouds, and cluster computing environments.

Airborne Wireless files for FAA certification for Infinitus broadband

Airborne Wireless Network (OTC QB: ABWN) has submitted its application and related documentation to the Federal Aviation Administration (FAA) for initial certification for a civilian air-to-air communication system, the company said.

The company said the application is for a supplemental type certificate (STC) for a broadband transceiver system to be installed in Boeing 757-200 aircraft. The new system provides a chain of airborne repeaters providing communications along the entire flight paths. The purpose of the new project is to replace low-earth orbit (LEO) communication satellites with broadband wireless communications networks linking aircraft to aircraft and ground stations.

The company said it intends to expand on this initial certification program to include multiple aircraft types, including all major airframes actively flying in the worlds airline fleets.

Airborne Wireless Network, a development stage company, focuses on selling hard-to-find ergonomic products for the physically disabled. The company was formerly known as Ample-Tee, Inc. and changed its name to Airborne Wireless Network in May 2016.

Deribit announces zero-fee trading through end of year

Full-featured Bitcoin futures and options platform Deribit has announced the removal of all trading fees for the remainder of 2016, the company said.

Few key features of Deribit trading platform includes: trading plain vanilla European style cash-settled options on the Deribit BTC index with margin; trading BTC futures that settle on the Deribit BTC index, with up to 20x leverage; allowance for placing volatility orders, where the Deribit price engine continuously updates the price of the order as to keep the implied volatility of the order fixed.

Deribit is a Bitcoin-only derivatives exchange for vanilla options and futures trading. It has been created as an answer to those in search for a professional fully dedicated (vanilla) Bitcoin options trading platform; a service that can create a fully liquid marketplace with the same standards as a normal derivatives market.