ATP’s New High-Endurance, Low-Latency SD/microSD Cards Built for Dashcams, DVRs Offer Over 109K Hours of Continuous Video Recording

ATP’s New High-Endurance, Low-Latency SD/microSD Cards Built for Dashcams, DVRs Offer Over 109K Hours of Continuous Video Recording

ATPs New High-Endurance, Low-Latency SD_microSD Cards_S750_S650

S650 Series in native TLC surpasses other cards with 1.6X higher endurance;
S750 Series in pSLC mode achieves 2X higher endurance

TAIPEI, Taiwan, July 12, 2022 (GLOBE NEWSWIRE) —  ATP Electronics, the global leader in specialized storage and memory solutions, introduces its new 3D triple level cell (TLC) S750/S650 Series SD and microSD memory cards built for the rigors of non-stop video recording. They meet the high endurance, low latency, and built-to-last data storage requirements of dashcams and digital video recorders (DVRs), as well as surveillance systems, autonomous vehicles, and other write-intensive applications.

High Endurance Over 109K Hours1 of Recording Time in Native TLC
Video evidence can prove critical in many scenarios; hence, it is very important for SD/microSD cards to record non-stop without compromising image quality and integrity. The S650 Series can record Full HD videos continuously up to 109,401 hours — far longer than similar cards marketed as “high endurance.” The S650 Series is based on 5K program/erase (P/E) cycles, which translate to 1.6X higher endurance than typical memory cards with 3K P/E cycles. The S750 Series, configured as pseudo single-level cell (pSLC) is based on 60K P/E cycles, while typical pSLC memory cards are rated for around 20K to 30K P/E cycles.

Comparison for high Endurance Maximum Recording Hours: ATP S650 vs. Other High-Endurance Cards

High-Endurance-Maximum-Recording-Hours-ATP-S650-vs-Other-High-Endurance-Cards

The following graph2 shows the endurance simulation result of ATP S650 128 GB microSD compared with other high-endurance branded cards of the same capacity, in full HD mode.

High Endurance Maximum Recording Hours: ATP S650 vs. Other High-Endurance Cards
——————
Notes:
1 Tested using 128 GB ATP S650 TLC card based on 13 Mbps (lowest bitrate of HD recording) in best-case/ideal scenario, with no other influencing factors.
2 Information sourced by ATP from publicly available data.

  • To record new data, the oldest data will be overwritten when the card is full.
  • 1Mbps=1,000,000 bps

Low Latency: Ready to Record in <1 Second, Writes 50% Faster
After power on, drive recorders may have to wait a few seconds to be ready for recording. The time between the first read command and the first write command from host is the “response time.” ATP S650 and S750 Series cards take less than 1 second response time while normal cards may take 7 to 12 seconds based on real tests on a DVR at room temperature.

While recording 16 MB data sequentially, ATP S650 cards take less than 0.1 second, saving 50% of writing time compared with consumer-rated cards and enabling high-speed backup without data loss.

Own HW/FW Design Features Offer Precise Reliability
As a true manufacturer with its own hardware/firmware capability, ATP can adjust to a variety of usages to fulfill customers’ specific application requirements and conditions. Based on customers’ applications, ATP does its best to meet the requirements by unique FW and HW design.

  • Auto-Read Calibration (ARC). Over time and with constant use, NAND flash memory cells degrade, causing voltage shifts that increase bit error rates (BER). When the normal Read Retry function is not enough to recover the errors, a more precise “Auto Read Calibration” (ARC) is applied to assure data integrity at extreme temperature or degraded NAND cells.
  • ATP Methodology for Advanced Card Analysis. ATP memory cards are IP67/IP57-certified and manufactured using System-in-Package (SiP) wafer/die process, making it difficult to do component analysis compared to SMT (surface- mount technology) process. ATP’s uniquely designed substrate and debug tool make this mission “possible.”
    1. ATP-Developed Hardware Design – Substrate with reserved testing pin is available for future component analysis.
    2. Solder Mask Removal by Laser – Precise and efficient method to remove solder mask so as to reach the reserved testing pins on the substrate.
    3. ATP’s Own Customized Debug Tool – This is connected to the HW reserved testing pin and then linked to the SW analysis system.

For further information on ATP’s advanced card analysis methodology, please go to: https://www.youtube.com/watch?v=89Lm_eC3mSU

Specifications

SD microSD
Product Line Premium Superior Premium Superior
S750Pi S750Sc S650Si S650Sc S750Pi S750Sc S650Si S650Sc
Interface UHS-I UHS-I UHS-I UHS-I UHS-I UHS-I UHS-I UHS-I
Flash Type 3D pSLC 3D pSLC 3D TLC 3D TLC 3D pSLC 3D pSLC 3D TLC 3D TLC
Form Factor SD Card microSD Card
Operating Temperature -40°C to 85°C -25°C to 85°C -40°C to 85°C -25°C to 85°C -40°C to 85°C -25°C to 85°C -40°C to 85°C -25°C to 85°C
Power Loss Protection Options Firmware Based Firmware Based
Capacity 8GB to 32GB 8GB to 32GB 32 GB to 128 GB 32 GB to 128 GB 8GB to 64GB 8GB to 64GB 32 GB to 256 GB 32 GB to 256 GB
Performance
Sequential Read (MB/s) up to 99 99 96 96 99 99 96 96
Sequential Write (MB/s) up to 78 78 62 62 82 82 65 65
Endurance (TBW)1 up to 1920 1920 640 640 3840 3840 1280 1280
Reliability
MTBF @ 25°C
>2,000,000 hours >2,000,000 hours >2,000,000 hours >2,000,000 hours >2,000,000 hours >2,000,000 hours >2,000,000 hours >2,000,000 hours
Reliability
Number of Insertions
20,000 (SDA spec minimum 10,000) 20,000 (SDA spec minimum 10,000)
Others
Dimensions: L x W x H (mm) 32.0 x 24.0 x 2.1 32.0 x 24.0 x 2.1 32.0 x 24.0 x 2.1 32.0 x 24.0 x 2.1 15.0 x 11.0 x 1.0 15.0 x 11.0 x 1.0 15.0 x 11.0 x 1.0 15.0 x 11.0 x 1.0
Certifications CE, FCC, UKCA, RoHS CE, FCC, UKCA, RoHS CE, FCC, UKCA, RoHS CE, FCC, UKCA, RoHS CE, FCC, UKCA, RoHS CE, FCC, UKCA, RoHS CE, FCC, UKCA, RoHS CE, FCC, UKCA, RoHS
Warranty 5 years 2 years 3 years 3 years 5 years 2 years 3 years 3 years
1 Under highest Sequential write value. May vary by density, configuration and applications.

For customers requiring application-specific features or technologies, ATP offers value-added customization services encompassing firmware and hardware as well as packaging and appearance (labels, printing and marking).

For more information on the S750/S650 Series SD/microSD cards, visit:

https://www.atpinc.com/products/industrial-sd-cards
https://www.atpinc.com/products/industrial-microsd-usd-cards

Media Contact on the Press Release: Kelly Lin (Kellylin@tw.atpinc.com)
Follow ATP Electronics on LinkedIn: https://www.linkedin.com/company/atp-electronics

About ATP
ATP Electronics (“ATP”) has dedicated 30 years of manufacturing excellence as the premier provider of memory and NAND flash storage products for rigorous embedded/industrial/automotive applications. As the “Global Leader in Specialized Storage and Memory Solutions,” ATP is known for its expertise in thermal and high-endurance solutions. ATP is committed to delivering add-on value, differentiation and best TCO for customers. A true manufacturer, ATP manages every stage of the manufacturing process to ensure quality and product longevity. ATP upholds the highest standards of corporate social responsibility by ensuring sustainable value for workers, the environment, and business throughout the global supply chain. For more information on ATP Electronics, please visit www.atpinc.com or contact us at info@atpinc.com.

Photos accompanying this announcement is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/bba3f651-5d95-43f6-b8bb-cd7d2e1f639c

https://www.globenewswire.com/NewsRoom/AttachmentNg/1222a5e7-fcc0-4927-a482-13df5f61720e

Sophi.io dá as boas-vindas ao seu mais recente cliente Global News

TORONTO, July 12, 2022 (GLOBE NEWSWIRE) — A Global News, uma das principais organizações de notícias do Canadá, escolheu a Sophi.io, uma plataforma de automação, otimização e previsão alimentada por IA desenvolvida pela The Globe and Mail, para automatizar a curadoria de conteúdo dos seus sites. Dando seguimento ao seu forte valor de inovação, a empresa usará a Sophi Site Automation para colocar conteúdo digital de forma autônoma no seu site.

A Global News é extremamente inovadora na sua abordagem à cultura e trabalhou intensamente com a Sophi para impulsionar tanto a mudança da cultura que a sua equipe editorial passou a ver o valor de trazer a IA para a redação que está ansiosa para trabalhar com essa nova tecnologia.

A Sophi Site Automation analisa todo o seu conteúdo, de vídeo a texto, e embaralha cada conteúdo para colocar o conteúdo mais valioso nos lugares mais valiosos das suas propriedades digitais, a fim de garantir que o conteúdo os ajude a atingir os objetivos da empresa.

Sonia Verma, Editora-Chefe da Global News, disse: “Nossa equipe editorial inovadora e orientada por dados está ansiosa para trabalhar lado a lado com Sophi para trazer a automação para nossa redação e conduzir decisões poderosas que nos ajudarão a atender melhor o nosso público.”

Gabe Gonda, vice-presidente da Sophi.io, comentou: “A Global News, uma das empresas de notícias e informações proeminentes do Canadá, é uma adição fenomenal à nossa base de clientes. Estamos muito contentes em poder ajudá-los a combinar seu alto nível de talento com a tecnologia de ponta de ML, que ajudará a gerar resultados substanciais para a empresa.”

Sobre a Global News

A Global News oferece aos canadenses, de costa a costa, uma série de notícias e informações – desde as notícias de última hora na sua comunidade até o conteúdo profundo e envolvente que coloca questões complexas do mundo em perspectiva. A Global News continua empenhada em atender o público com cobertura de notícias com base em fatos, de forma precisa e abrangente. Os canadenses podem contar com a Global News como uma fonte confiável de informações na televisão, rádio e online, incluindo o noticiário principal Global National e os noticiários locais diários em todo o país. A Global News é uma rede da Corus Entertainment.

Sobre a Sophi.io

Sophi.io (https://www.sophi.io) foi desenvolvida pela The Globe and Mail para ajudar os editores de conteúdo a tomar decisões estratégicas e táticas importantes. A empresa oferece um conjunto de soluções de automação, otimização e previsão com base em IA e ML, incluindo Sophi Site Automation, Sophi for Paywalls e Sophi for First Party Data. A Sophi também capacita o laydown automatizado de um clique para publicação impressa sem modelos. A Sophi foi projetada para aprimorar as métricas que mais importam para sua empresa, como retenção e aquisição de assinantes, engajamento, recentidade, frequência e volume.

Contato

Jamie Rubenovitch
Dirigente de Marketing, Sophi.io
The Globe and Mail
jrubenovitch@globeandmail.com
416-585-3355

Global News devient le tout récent client de Sophi.io

TORONTO, 12 juill. 2022 (GLOBE NEWSWIRE) — Global News, l’un des principaux organes de presse au Canada, a choisi Sophi.io, une plateforme d’automatisation, d’optimisation et de prédiction basée sur l’IA développée par The Globe and Mail, pour automatiser la conservation du contenu de son site Web. Suite à sa forte valeur d’innovation, la société utilisera Sophi Site Automation pour placer de manière autonome du contenu numérique sur son site Web.

Global News est extrêmement innovant dans son approche de la culture. L’organe de presse a travaillé intensivement avec Sophi pour apporter un changement culturel si important que son équipe éditoriale constate désormais la valeur de l’introduction de l’IA dans la salle de rédaction et est impatiente de travailler avec cette nouvelle technologie.

Sophi Site Automation analyse l’ensemble de ses contenus, de la vidéo au texte, et annule chaque élément de contenu pour le remplacer par un autre élément plus précieux dans les endroits les plus bénéfiques de leurs propriétés numériques afin de s’assurer que ses contenus l’aide à atteindre ses objectifs commerciaux.

Sonia Verma, rédactrice en chef de Global News, a déclaré : « Notre équipe éditoriale innovante et axée sur les données est impatiente de travailler main dans la main avec Sophi pour intégrer l’automatisation dans notre salle de rédaction et prendre des décisions fortes qui nous aideront à mieux servir nos audiences. »

Gabe Gonda, vice-présidente de Sophi.io, a commenté : « Global News, l’une des principales sociétés d’informations et d’actualités du Canada, est un ajout phénoménal à notre clientèle. Nous sommes ravis de les aider à combiner leur haut niveau de talent avec une technologie ML de pointe qui contribuera à générer des résultats commerciaux significatifs. »

À propos de Global News

Global News offre aux Canadiens d’un océan à l’autre une multitude d’actualités et d’informations : des flashs infos dans leur communauté à un contenu approfondi et captivant qui met en perspective la complexité des problèmes mondiaux. Global News reste déterminée à servir les audiences avec une couverture d’actualités factuelle, précise et complète. Les Canadiens peuvent se tourner vers Global News pour disposer d’une source d’informations fiable à la télévision, à la radio et sur Internet, y compris via le bulletin d’information phare Global National et les bulletins d’information locaux quotidiens diffusés à travers le pays. Global News est un réseau de Corus Entertainment.

À propos de Sophi.io

Sophi.io (https://www.sophi.io) a été développée par The Globe et Mail pour aider les éditeurs de contenu à prendre des décisions stratégiques et tactiques importantes. Il s’agit d’une suite de solutions d’automatisation, d’optimisation et de prévision basées sur l’IA et l’AM qui comprend Sophi Site Automation, Sophi for Paywall et Sophi for First Party Data. Sophi permet également la mise en page automatisée en un clic de l’édition imprimée sans modèle. Sophi vise à améliorer les mesures qui comptent le plus pour votre entreprise, telles que la rétention et l’acquisition d’abonnés, l’engagement, la récence, la fréquence et le volume.

Contactez-nous

Jamie Rubenovitch
Directrice du marketing, Sophi.io
The Globe and Mail
jrubenovitch@globeandmail.com
416-585-3355

Curtis “50 Cent” Jackson Through His G-Unit Film & Television Will Serve as a Producer for Proxima Media’s ‘Skill House’ Alongside Ryan Kavanaugh

Jackson will also join the cast, starring alongside the UFC’s Veteran Paige VanZant, Leah Pipes, McCarrie McCausland, Ivan Leung, Caitlin Carmichael, Emily Mei, Jacob Skidmore, Dani Oliveros, John DeLuca, and Neal McDonough. As previously announced, the film stars Bryce Hall, one of the largest social media influencers with over 50 million followers

Curtis 50 Cent Jackson

Curtis 50 Cent Jackson

Ryan Kavanaugh

Ryan Kavanaugh

Bryce Hall

Bryce Hall

LOS ANGELES, July 12, 2022 (GLOBE NEWSWIRE) — Ryan Kavanaugh’s Proxima Media is officially in production on SKILL HOUSE, the first installment in the R-rated horror film franchise starring social media phenomenon and TikTok star Bryce Hall. Since its spring announcement, CURTIS “50 Cent” JACKSON will also produce through his G-Unit Film & Television and star in the film. UFC veteran and BKFC and AEW star Paige VanZant has also joined the cast. And renowned Emmy-winning special effects artist Steve Johnson (GHOSTBUSTERS, BICENTENNIAL MAN, SPIDER-MAN 2) is delivering some of the most realistic guts and gore fans will ever see.

Josh Stolberg – Director

Josh Stolberg – Director

Additional cast includes Leah Pipes (SORORITY ROW, The Originals), McCarrie McCausland (Army Wives, The Originals), Ivan Leung (THE TENDER BAR, All American, Grey’s Anatomy), Neal McDonough (CAPTAIN AMERICA, MINORITY REPORT, Yellowstone, Suits), John DeLuca (Spree, American Horror Story), and Caitlin Carmichael (MIDNIGHT IN THE SWITCHGRASS, EPIPHANY).

Caitlin Carmichael

Caitlin Carmichael

“This film is bursting with mavericks of entertainment, many of them spanning multiple genres and platforms,” notes Kavanaugh. Regarding producing with 50 Cent, Kavanaugh adds, “From a global rap and hip-hop music icon to a businessman, actor, writer, and producer – if anyone knows a thing or two about breaking the boundaries, it’s 50 Cent. I’m honored to work alongside him as we watch Bryce do the same with his career.”

Dani Oliveros

Dani Oliveros

A saw-like take that breaks into the phenomenon of social media fame and culture, SKILL HOUSE offers an unflinching take on fame and what new celebrities are willing to do to attain it.

Emily Mei

Emily Mei

The Los Angeles-based film, which is being primarily shot in the original “Sway House,” looks at the world of social media fame and pushes the limits when “clicks” and “clout” become life or death literally.Ivan Leung

Ivan Leung

With an expected early 2023 release date, the project is financed and controlled by Proxima Media, owned and operated by Emmy, Grammy, Oscar, and Tony-nominated mega-producer Ryan Kavanaugh. It is written and directed by horror film legend Josh Stolberg, co-writer of horror films such as SPIRAL: FROM THE BOOK OF SAW (starring Chris Rock and Samuel L Jackson), JIGSAW, PIRANHA 3D, SORORITY ROW, as well as the next SAW film (tentatively titled SAW X). Through his G-Unit Film & Television, Jackson will also produce alongside Kavanaugh, Alex Baskin, and Lifeboat Productions’ Amy Kim and Jaime Burke. Daniel Herther, who oversees production and creative development at Proxima, will serve as executive producer alongside Jason Barhydt and Bobby Sarnevesht.

Jacob Skidmore

Jacob Skidmore

About Curtis “50 Cent” Jackson
Curtis “50 Cent” Jackson has carved out a thriving television and film career as both a best-in-class producer and star. In 2005, he founded G-Unit Film & Television, Inc., which produced a wide variety of content across numerous platforms and sold a myriad of shows to various networks. Among these is the critically-acclaimed #1 show on Starz, “Power,” in which he not only co-starred in but also served as executive producer and director. In October 2018, Jackson and Starz/Lionsgate closed an unprecedented deal for Jackson’s G-Unit Film & Television, Inc. The partnership, touted as among the most significant deals to date for an Executive Producer in premium television, will focus on the expansion of the “Power” universe, recently announced spin-offs “Power Book II: Ghost,” “Power Book III: Raising Kanan,” and “Power Book IV: Force.” G-Unit Film & Television also produced the ABC hit “For Life” and recently launched the first season of the widely anticipated series “Black Mafia Family” for Starz, which was immediately renewed for a second season. G-Unit is also in development on scripted series “Family Affair” ABC, “The 50th Law” Netflix, Let Me Hear a Rhyme” at Peacock and “Unseen,” “Angel’s Playbook,” “Moment in Time,” and “Queen Nzinga” at Starz. It was announced in May 2021 that “Confessions of A Crime Queen” was a straight-to-series order on Discovery+. Jackson is also currently in production on a BMF Docuseries at Starz and unscripted series, “Hip Hop Homicides,” at WeTV. The company is also building out its feature slate, starting with a 3 picture Horror deal in collaboration with Horror phenom Eli Roth and 3BlackDot.

John Deluca

John Deluca

About Paige VanZant
Paige VanZant is a mixed martial arts artist, former UFC fighter, bare-knuckle boxer, professional wrestler, author, and model. She has appeared on television in Dancing with the Stars and Chopped.

Leah Pipes

Leah Pipes

About Josh Stolberg
Josh Stolberg is a writer, director, and producer responsible for some of the most popular horror films today, including JIGSAW, PIRANHA 3D, SORORITY ROW, and most recently, SPIRAL. He has written films for Netflix, Disney, Lionsgate, and more. He is currently writing a Dwayne Johnson actioner at Netflix as well as the next installment of the popular Saw franchise.

Mcarrie Mccausland

Mcarrie Mccausland

About Lifeboat Productions
Amy Kim and Jaime Burke are award-winning producers with over 20 years of diverse experience. They have produced original content for all the leading streamers and studios with their most recent credits, including the upcoming series Surfside Girls for Apple+ and Amazon’s Undone. Kim got her producing start with the Academy Award Winning Short Film, WEST BANK STORY and served as Head of Production for Michael Eisner’s digital studio Vuguru before forming Lifeboat Productions with Jaime Burke in 2012. Burke started her film-producing career with such titles as THE POSSESSION OF MICHAEL KING and the indie horror classic, THE PACT. This is their second collaboration with writer/director Josh Stolberg.

Neal McDonough

Neal McDonough

About Proxima and Ryan Kavanaugh
Founder of Proxima Media, the controlling shareholder of Triller, Ryan Kavanaugh is one of the most accomplished, prolific, and honored executives in entertainment industry history. Using an intelligent model of film finance, he was dubbed the creator of “Moneyball for movies.” He produced, distributed, and/or structured financing for more than 200 films, generating more than $20 billion in worldwide box office revenue and earning 60 Oscar nominations. He is the 25th highest-grossing film producer of all time. His productions include Fast and Furious 2-6, 300, Social Network, Limitless, Fighter, Talladega Nights, Step Brothers, and Mama Mia! Kavanaugh and Proxima pioneered an innovative finance deal for post-bankruptcy Marvel, making the studio and finance structure that led to Marvel Cinematic Universe. He built the SVOD (streaming) category with Netflix, which boosted that company’s market capitalization from $2 to $10 billion. Kavanaugh is the co-founder of Triller, one of the three fastest-growing social media apps. He recently led the acquisition, merger, and re-launch of the social media and music app.
He also created the powerhouse television company, now known as Critical Content, producing hit shows like Catfish on MTV and Limitless on CBS, which he sold for $200M. The company had 40 television series across 19 networks before its sale. Kavanaugh has earned several achievements and awards, from Variety’s Producer of the Year Award to The Hollywood Reporter’s Leadership Award, from Fortune’s 40 Under 40 Most Influential People in Business to Forbes’ Fortune 400, Billion-Dollar Producer by the Daily Variety and the 100 Most Influential People in the World by Vanity Fair. Proxima and Kavanaugh are repped by Neil Sacker.

Paige VanZant

Paige VanZant

Attachments

Media Contacts
Jive PR + Digital
http://www.jiveprdigital.com/
Lynsey Gray, lgray@jiveprdigital.com
Michelle Vieyra, michelle@jiveprdigital.com

Synchronoss Extends Platform Support for Alibaba and Google Cloud

Certifications Address the Need to Provide Customers with Multi-Cloud Environments to Deploy Synchronoss Personal Cloud and Synchronoss Email Suite Worldwide

BRIDGEWATER, N.J., July 12, 2022 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (Nasdaq: SNCR), a global leader and innovator in cloud, messaging and digital products and platforms, today announced that its namesake personal cloud and email suite have been certified on the Alibaba Cloud and Google Cloud, respectively. In addition to Amazon AWS and Oracle OCI already in use, the new certifications provide customers with multi-cloud environments to deploy and scale Synchronoss Personal Cloud and Synchronoss Email Suite globally.

Synchronoss Personal Cloud and Synchronoss Email Suite are utilized by leading service providers around the world, supporting more than 250 million subscribers. Each service provider has its own specific requirements, including content security, data sovereignty, compliance, and cost. Supporting Alibaba and Google Cloud allows service providers to extend their deployment across multi-cloud environments and geographies while ensuring security, accessibility, and reliability. Synchronoss is well-positioned to deliver its products to customers throughout Asia and beyond now that Personal Cloud is certified on the Alibaba and Google platforms.

“Our global customers have specific requirements when it comes to performance, cost, compliance, and critically, data sovereignty,” said Patrick Doran, Chief Technology Officer at Synchronoss. “By extending Personal Cloud on Alibaba and Email Suite on Google Cloud, Synchronoss is able to deliver secure, cost-optimized, in-country solutions that are reliable and scalable, upholding our strategy of supporting hybrid and multiple cloud environments.”

“The combination of Synchronoss Email Suite delivered via Google Cloud provides customers with a highly-scalable and reliable solution that is easily accessible globally,” said Gia Winters, Managing Director, Google Cloud. “We look forward to supporting Synchronoss with our infrastructure to keep pace with demand in key territories around the world across their product portfolio.”

Leading Tier One service providers utilize Synchronoss Personal Cloud, Synchronoss Email Suite, or both to manage 250 million plus subscribers worldwide, storing and managing more than 142 petabytes of data.

About Synchronoss
Synchronoss Technologies (Nasdaq SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services, and content they love. That’s why more than 1,300 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com.

Media Relations Contact:
Domenick Cilea
Springboard
dcilea@springboardpr.com

Investor Relations Contact:
Matt Glover / Tom Colton
Gateway Group, Inc.
SNCR@gatewayir.com

US Consumer Prices Surged 9.1% in June

U.S. consumer prices are still surging, up 9.1% in June compared to a year ago, the government reported Wednesday, the fastest increase in four decades.

The Bureau of Labor Statistics said prices were up 1.3% in June compared to May. That figure is also considered to be a big jump, following increases in previous months that are squeezing the household budgets of millions of American families, which include food, gasoline and housing.

The largest increase from May to June was the 7.5% increase in the energy index, which contributed nearly half of the overall increase in inflation. The energy index, which includes prices for fuel, oil, gasoline and electricity, is up 41.6% for the year, the largest 12-month increase since April 1980.

The cost of gasoline was up 11.2% in June, partly reflecting the turmoil in world oil prices brought on by Russia’s invasion of Ukraine, now in its fifth month. Prices at service station pumps, however, have been declining since the time frame of the latest inflation report.

“While today’s headline inflation reading is unacceptably high, it is also out-of-date,” U.S. President Joe Biden said in a statement. “Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June.

Inflation is our most pressing economic challenge,” he said. “It is hitting almost every country in the world. It is little comfort to Americans to know that inflation is also high in Europe, and higher in many countries there than in America. But it is a reminder that all major economies are battling this COVID-related challenge, made worse by [Russian President Vladimir] Putin’s unconscionable aggression” in his Ukraine invasion.

Aside from the cost of gasoline, most American families are most concerned about increasing food costs, up 1% in June over May and 10.4% compared to a year ago, which is the largest annual increase since February 1981. Apartment rents were eight-tenths of a percent higher in June compared to the month before.

Officials at the Federal Reserve and the White House have expressed ongoing concern about the rapid increase in consumer prices. Polls show it is the single biggest economic concern for American voters four months ahead of a nationwide congressional election, even as U.S. employers are still adding hundreds of thousands of new jobs to the economy each month.

Approval ratings for Democratic President Biden’s performance in office have plummeted, to a large degree over inflation concerns, leading to widespread predictions that Republicans will win control of the House of Representatives and possibly the Senate.

Policymakers at the Fed, the country’s central bank, have embarked on stiff hikes of their benchmark interest rate on the theory that action will curb inflation by increasing borrowing rates for consumers on mortgages, car loans and credit purchases.

That in turn could cut consumer demand and cool off the economy. But the Fed is hoping to impose the higher interest rates without sending the U.S. economy, the world’s largest, into a recession.

Source: Voice of America

US, Allies Aim to Cap Russian Oil Prices to Hinder Invasion

With thousands of sanctions already imposed on Russia to flatten its economy, the U.S. and its allies are working on new measures to starve the Russian war machine while also stopping the price of oil and gasoline from soaring to levels that could crush the global economy.

The Kremlin’s main pillar of financial revenue — oil — has kept the Russian economy afloat despite export bans, sanctions and the freezing of central bank assets. America’s European allies plan to follow the Biden administration and take steps to stop their use of Russian oil by the end of this year, a move that some economists say could cause the supply of oil worldwide to drop and push prices as high as $200 a barrel.

Washington and its allies want to form a buyers’ cartel to force Russia to accept below-market prices for oil. Group of Seven leaders have tentatively agreed to back a cap on the price of Russian oil. Simply speaking, participating countries would agree to purchase the oil at lower-than-market price.

Russia has given no sign whether it might go along with this. The Kremlin also has the option of retaliating by taking its oil off the market, which would cause more turmoil.

High energy costs are straining economies and threatening fissures among the countries opposing Russian President Vladimir Putin for the invasion of Ukraine in February. President Joe Biden has seen his public approval slip to levels that hurt Democrats’ chances in the midterm elections, while leaders in the United Kingdom, Germany and Italy are coping with the economic devastation caused by trying to move away from Russian natural gas and petroleum.

The idea behind the cap is to lower gas prices for consumers and help bring the war in Ukraine to a halt. Treasury Secretary Janet Yellen is currently touring Indo-Pacific countries to lobby for the proposal. In Japan on Tuesday, Yellen and Japanese Finance Minister Suzuki Shunichi said in a joint statement that the countries have agreed to explore “the feasibility of price caps where appropriate.”

However, China and India, two countries that have maintained business relationships with Russia during the war, will need to get on board. The administration is confident China and India, already buying from Russia at discounted prices, can be enticed to embrace the plan for price caps.

“We think that ultimately countries around the world that are currently purchasing Russian oil will be very interested in paying as little as possible for that Russian oil,” Treasury Deputy Secretary Wally Adeyemo told The Associated Press.

The Russian price cap plan has support among some leading economic thinkers. Harvard economist Jason Furman tweeted that if the plan works, it would be a “win-win: maximizing damage to the Russian war machine while minimizing damage to the rest of the world.” And David Wessel at the Brookings Institution said an “unpleasant alternative” is not attempting the price cap plan.

If a price cap is not implemented, oil prices will almost certainly spike because of a European Union decision to ban nearly all oil from Russia. The EU also plans to ban insuring and financing the maritime transport of Russian oil to third parties by the end of the year.

Without a price cap mechanism to reduce some Russian revenues, “there would be a greater risk that some Russian supply comes off the market. That could lead to higher prices, which would increase prices for Americans,” Adeyemo said.

A June Barclay’s report warns that with the EU oil embargo and other restrictions in place, Russian oil could rise to $150 per barrel or even $200 per barrel if most of its sea-borne exports are disrupted.

Brent crude on Tuesday was trading just under $100 per barrel.

James Hamilton, an economist at the University of California, San Diego, said garnering the participation of China and India will be important to enforcing any price cap plan.

“It’s an international diplomatic challenge on how you get people to agree. It’s one thing if you get the U.S. to stop buying oil, but if India and China continue to buy” at elevated prices, “there’s no impact on Russian revenues,” Hamilton told the AP.

“The less revenue Russia gets from selling oil, the less money they have to send these bombs on Ukraine,” he said.

One possibility is that Russia could retaliate and take its oil off the market completely.

In that case, “the main question is will countries have enough time to find alternatives” to prevent massive price increases, said Christiane Baumeister, an economist at the University of Notre Dame who studies the dynamics of energy markets.

With five months until the end of the year, when EU bans begin to take effect, a Russian price cap plan would likely need to be in place and operating effectively to avoid further spikes in gas prices that have frustrated U.S. drivers. Biden has warned that high gas prices this summer were the cost of stopping Putin, but prices could climb to new records and lead to economic and political pain for the president.

Without the price cap, “if the EU import ban goes into effect together with the insurance ban,” Baumeister said, the impacts “will be passed onto consumers through gasoline prices.”

Source: Voice of America