The private sector has created a variety of commercial weather products that range from specialized forecasts for weather-sensitive businesses, such as resorts and commodities traders, to those consumer-friendly weather maps seen in newspapers and on television.
This has also meant working closely with the British Met Office on sophisticated weather routing products.
Kingfisher blamed weak consumer confidence, unfavourable currency exchange rates, and bad UK weather hitting sales of "seasonal products".
Whether it was a new speaker system, smartphone-controlled drone or weather sensor, many of the products on show were being controlled by a mobile app.
First, on May 19th, energy risk analysis leader 3TIER and weather risk management firm Galileo announced that they would be offering financial products to hedge the risk of wind variability.
Traders would love to turn the risks faced by suppliers, transmitters and retailers of electricity into financial products, so that they could hedge the hazards of weather, fuel supply and wind, and settle up in cash rather than in actual electricity.
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The bad weather does not bode well for Chinese inflation, as important agricultural products like cabbage and rape leaf prices have risen 16.1% and 18.2%, respectively, in the May 21 to May 30 period because of the drought, according to the National Bureau of Statistics.
With many markets, such as aerospace, industrial gas turbine and commercial building remaining soft, and the residential construction market being hampered by severe winter weather, Alcoa says that it will strengthen its performance by developing innovative products that add value for its customers.
Climate-services companies are developing new modeling and observational tools, innovative forecasting products and advanced information dissemination methods designed to master the mechanics of climate and weather.
Weak traffic and off-mark products led to slower than expected sales in May, when wet, chilly weather may have provided too weak inspiration for consumers to start shopping for summer items, analysts at RBC Capital Markets say.
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