Afternoon Coffee: IBM Food Trust Blockchain Nabs 2 More Companies; California Ports Post Solid Reports

Thomas Foods International and Drakes Supermarket have both signed up to join the IBM Food Trust blockchain. This blockchain is a pilot program that uses technology to trace the life cycle of food products from start to finish.

Thomas Foods International is the largest family-owned meant processor in Australia, while Drakes Supermarket is the largest independent grocery retailer in the country. They will now, along with other participating companies, upload data onto a shared platform as part of the blockchain.

This collaboration allows for greater understanding, traceability, and efficiency in the food ecosystem.

Ports of Long Beach and Los Angeles Post Solid Reports

Both the Port of Long Beach and the Port of Los Angeles posted solid numbers for the month of February in their respective reports last week. Comparing these statistics annually proves difficult, due to the timing of the lunar year. Around this time, some Asian countries see a slowdown, and large quantities of goods move in January rather than February.

The Port of Los Angeles recorded January volumes of 852,440 TEU and February numbers of 705,306. While the February numbers did decrease from January, as well as being 2.7% down annually, this was still the third-highest-volume February ever for the port. Long Beach reported February numbers of 596,616, a 9.8% annual decline.

Third Brexit Vote Ruled out by UK Speaker

Speaker of the House John Bercow has ruled out a third vote on the rejected Brexit agreement if the motion remains substantially the same.

MPs have already rejected Theresa May’s Brexit deal this session, voting it down by 149 votes last week. The Members of Parliament then voted to push back the Brexit date last week. However, May will now have to change her deal substantially if she is allowed to have it voted upon again, according to Bercow.

He has cited a parliamentary convention dating back to 1604 that bans a vote of the same proposal twice in the same session. This could have a huge impact on the Brexit process, with just 11 days to go until the UK is supposed to be leaving the EU.

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