Daily Business Report: Sept. 26, 2023
Nanoparticles made from plant viruses
could be farmers’ new ally in pest control
By Liezel Labios | UC San Diego
A new form of agricultural pest control could one day take root—one that treats crop infestations deep under the ground in a targeted manner with less pesticide.
Engineers at the University of California San Diego have developed nanoparticles, fashioned from plant viruses, that can deliver pesticide molecules to soil depths that were previously unreachable. This advance could potentially help farmers effectively combat parasitic nematodes that plague the root zones of crops, all while minimizing costs, pesticide use and environmental toxicity.
Controlling infestations caused by root-damaging nematodes has long been a challenge in agriculture. One reason is that the types of pesticides used against nematodes tend to cling to the top layers of soil, making it tough to reach the root level where nematodes wreak havoc. As a result, farmers often resort to applying excessive amounts of pesticide, as well as water to wash pesticides down to the root zone. This can lead to contamination of soil and groundwater.
Photo: Image by iStock/Standart, via UC San Diego
Insurance commissioner: to increase
their premiums, insurers must
write more policies in wildfire zones
By Douglas Page
While Insurance Commissioner Ricardo Lara says his plan – to make California a better market financially for major home insurance providers by December 2024 – there’s a chance, says one state government official, it could be implemented sooner.
As laid out last week, the plan is that state Department of Insurance will be more welcoming to consumer insurance providers’ desired premium increases if they combine to write 85 percent of their property insurance policies in high-risk fire zones so there will be fewer policy holders on California’s FAIR Plan, which covers wildfire risk.
Many homeowners, especially those considered to be in high-risk fire zones, are purchasing two policies: One from the California FAIR Plan so their home is covered for wildfire risks and another that covers for other risks. In some cases, homeowners are seeing a 100 percent or more increase in their property insurance costs because they had to buy the two policies, some California-based insurance executives told SD METRO.
According to Lara’s office, State Farm, which has the most market share in California, is seeking a 28.1 percent increase in its homeowners’ annual premiums this year while Allstate wants 39.6 percent. Farmers sought a 17.7 percent increase but was only approved for a 12.5 percent increase. Lara’s office says Farmers is only writing 7,000 new homeowner policies each month.
Qualcomm to reduce staff in China amid
dwindling smartphone demand
By Catherine Sbeglia Nin | RCR Wireless News
While Qualcomm has denied rumors that it plans to shut its Shanghai R&D facility or enact “large-scale” layoffs in China, it did reveal that will reduce the facility’s staff, citing weak demand for smartphones and the country’s slowing economy.
The Shanghai facility opened in 2010 and employs nearly 400 staff. The chip company told Chinese news outlet Yicai Global that the impact won’t be much of a cut, but instead, more like a job trim. Most of the layoffs, said Qualcomm, will occur this quarter and the rest will follow over the next six months.
China is experiencing ongoing slump in smartphone demand, and more pointedly, the government has banned its officials from using Apple’s iPhone, with further reaching bans rumored — although not confirmed — threatening to greatly impact Qualcomm, which supplies iPhone modem chips.
Airport certifies more than half of all restaurants
and retail shops as SAN Green Concessions
More than half of all restaurants and retail shops at San Diego International Airport have been certified as SAN Green Concessions in recognition of their significant efforts to conserve energy and water and reduce waste.
The certification, earned by 12 restaurants and 18 retail shops, lasts for one year and requires an annual check-in to ensure continued participation in the program. Certified businesses display a SAN Green Concessions logo at their storefront.
The San Diego County Regional Airport Authority launched the SAN Green Concessions Certification program in 2017 to evaluate and recognize concessionaires that demonstrate sustainable business practices.
Boosting representation in brain research
By Bryana Quintana | SDSU
Millions of people worldwide are affected by neurological disorders including Alzheimer’s disease, a form of dementia that currently has no cure and for which treatments are still under development. The impact of Alzeimer’s varies across communities, as factors like sex, ethnicity and socioeconomic status can be associated with individuals’ risk for the disease.
Researchers from San Diego State University and UC San Diego work to mitigate these inequities by investigating the social and behavioral science of neurological disorders, while advancing minority researchers in this field.
The San Diego Alzheimer’s Disease Resource Center for Minority Aging Research supports early-career researchers from diverse, underrepresented groups who study how Alzheimer’s disease and related disorders impact underrepresented communities. The center, managed jointly by SDSU and UCSD, is funded by a grant from NIH’s National Institute on Aging which has been renewed to provide over $3 million in funding over the next five years.
1st Century Bank expands into San Diego
1st Century Bank, a division of MidFirst Bank, the largest privately owned bank in the nation, announced its expansion into the San Diego market. This effort is being led by experienced banking professional Jason Shidler and his team, who have joined 1st Century Bank from the former First Republic Bank and bring a proven track record of success in the San Diego market. The addition of this team furthers 1st Century Bank’s growth strategy in Southern California.
Arthur J. Gallagher & Co. acquires Hartley
Cylke Pacific Insurance Services
Arthur J. Gallagher & Co. announced the acquisition of San Diego-based Hartley Cylke Pacific Insurance Services Inc. Hartley Cylke Pacific Insurance is a retail insurance broker specializing in transportation for clients throughout California and Arizona. Michael Hartley, John Cylke, James Hawes and their team will remain in their current location under the direction of Scott Firestone, head of Gallagher’s Southwest region retail property/casualty brokerage operations.
Greenbutts and H.I.E. announce distribution agreement
Greenbutts Inc., a science-driven leader in biodegradable filter technology, announced that it has entered into a strategic agreement with H.I.E Handelsgesellschaft mbH, which was appointed as the company’s exclusive distributor for Poland in the European Union. Since 2010, Greenbutts has worked with R&D institutions, multinational tobacco companies, and industry experts to develop a natural filter technology, capable of replacing the most littered plastic in the world, cigarette filters.
Simplilearn joins forces with UCSD Division of Extended Studies
Simplilearn announced a partnership with the UC San Diego Division of Extended Studies to bring enhanced digital economy skills training to professionals and students in the United States, providing them with the competitive advantage for well-paying, in-demand jobs in California and beyond. The Division of Extended Studies is housed within UC San Diego, ranked #1 among the world’s “Golden Age” universities.
Kintara Therapeutics presents at European
Association for Neuro-Oncology
Kintara Therapeutics Inc., a biopharmaceutical company focused on the development of new solid tumor therapies, announced the presentation of compelling patient case studies in a poster at the 2023 European Association for Neuro-Oncology Annual Meeting in Rotterdam. Presented on Sept. 23, the poster focused on two patient cases from Kintara’s Phase 2 study evaluating the safety and tolerability of VAL-083 when administered concurrently with radiation therapy (RT) in newly diagnosed MGMT-unmethylated glioblastoma multiforme following surgical resection.
Vial to sponsor 21st Precision in Clinical Trials Summit
Vial, a global full-service CRO providing tech-forward clinical trial management services, announced its participation as a sponsor, exhibitor, and speaker at the 21st Precision in Clinical Trials Summit, taking place in San Diego on Oct. 16-17, 2023, at the Westin San Diego Bayview. The summit serves as a platform for the largest bio-pharmaceutical hub in the region to network and discuss collaboration strategies aimed at achieving their outsourcing and operational goals.
TeachMe.To raises $2 million in seed funding
TeachMe.To, the lesson hub for beginners, announced that it has raised $2 million in seed funding, led by 1984 Ventures and with participation from Common Metal, Alumni Ventures, as well as a syndicate of angel investors, including Sam Altman, CEO of OpenAI; Ben Lauzier, former VP of product & growth at Thumbtack; Vivek Patel, former CPO at Yelp; and Brent Turner, president of Rover. The funding will be used to accelerate growth and introduce new improvements that complete an end-to-end lesson experience.
EOT signs strategic collaboration agreement with AWS
EOT, a leading intelligent industrial software provider, announced it signed a multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to help industrial companies unlock the promise of artificial intelligence (AI)-optimized industrial plants with a no-code cloud historian and digital twins residing exclusively on AWS. The SCA expands EOT’s Twin Fusion product suite offering on AWS and availability in AWS Marketplace.
San Diego’s wildest Oktoberfest set for Ocean Beach
Ocean Beach Oktoberfest, promoted as “San Diego’s wildest,” returns this year for its 21st installment on Friday and Saturday, Oct. 6-7. Sponsored by Jägermeister, the fall classic event is one of only seven the liquor giant chose to sponsor this year out of hundreds of applications nationwide. Live music, activities, and drinks will be flowing on Friday, Oct. 6, from 4-11:30 p.m. and Saturday, Oct. 7, from noon-11:30 p.m. To celebrate OB Oktoberfest, visit OBOktoberfest.com or follow on Instagram and Facebook.
SBA offers disaster assisance
Low-interest federal disaster loans are available to California businesses and residents affected by Tropical Storm Hilary that occurred Aug. 19 – 21. The U.S. Small Business Administration acted under its own authority to declare a disaster in response to a request SBA received from Gov. Gavin Newsom’s authorized representative, Nancy Ward, director of the California Office of Emergency Services on Sept. 20. Get applications
