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Retail News Breaks Archives
Ex-drugstore.com CEO joins AOL board
October 25th, 2012
NEW YORK – Former drugstore.com chairman and chief executive officer Dawn Lepore has become a member of the board of directors at AOL Inc.
"AOL has an impressive collection of world-class brands and is a clear industry leader in creating cutting-edge digital advertising solutions," Lepore said in a statement. "Joining the board allows me to be a part of its future, and that's exciting."
The Internet services giant said Thursday that Lepore — currently CEO at Prosper Marketplace Inc., a peer-to-peer lending marketplace — brings more than three decades of experience in building and operating online businesses, including drugstore.com and at The Charles Schwab Co.
Lepore led drugstore.com from 2004 until its acquisition by Walgreen Co. in 2011. Before that, she held leadership positions at Charles Schwab, where she was pivotal in building the financial services company's e-commerce business. In 21 years at Schwab, she served as vice chairman of technology, operations, administration, strategy and active trader, chief information officer, a member of Schwab's executive committee and a trustee of SchwabFunds.
Currently, Lepore serves on the boards of eBay Inc., Limos.com and Coupons.com. She previously served on the boards of Walmart and The New York Times Co.
"Dawn's unique experience serving as both a board member and operator for media, technology and retail brands makes her a natural fit for the AOL Board," stated Tim Armstrong, chairman and CEO of AOL. "Her deep industry expertise will be instrumental as we continue to evolve our business model and create value for our shareholders."


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CEAT launches 'Rhino Plus' tyres
A new radial tyre specially designed to provide higher mileage and
deliver greater comfort to van users has been manufactured at CEAT Sri
Lanka's hi-tech radial plant.
Branded CEAT 'Rhino Plus', the new range replaces CEAT's 'Rhino'
tyres, and the 'Plus' denotes new benefits and features, the company
An enhanced design, improved compounds and an eye-catching tread
pattern contribute to safety and passenger comfort.
The greater tread depth of the new design delivers better mileage
adding the advantage of lower cost per kilometer, a spokesperson for
CEAT Sri Lanka said. The new tyre is available in five key van sizes.
Sales of CEAT radial tyres increased by 55 percent in the last financial
year making CEAT the highest-selling single radial tyre brand in Sri
Lanka, the spokesperson said.
The radial tyre plant of CEAT Sri Lanka now manufactures hi-tech
radial tyres in 15 popular car and van sizes, offering a range that will
fit most small and mid size cars and vans.
CEAT Sri Lanka's radial tyres are backed by a one of a kind
comprehensive no-questions-asked warranty that is valid for up to 50
percent of tyre wear.

domain: news


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Speaking off-stage to reporters at the AllThingsD D11 conference, Sony CEO Kaz Hirai confirmed the Xperia Z will be launching in the US in the coming weeks. He didn't give specifics on pricing, carriers or exact availability, but Sony fans stateside can now sit comfortably knowing Sony's best smartphone is soon landing.
TmoNews scooped photos of the Xperia Z with T-Mobile branding in April, indicating that the nation's fourth-largest carrier is at least one among the fray.
To help fuel sales for the Xperia Z, Hirai says Sony will increase its marketing efforts. Furthermore, the executive revealed that the Xperia Z has been the top-selling phone in Japan for the sixth week in a row. No word on other markets.
In our review of the Xperia Z, we noted that it is the strongest Android phone that Sony has produced to date, fusing power, design and features. We weren't big fans of Sony's software customisations and camera.


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Dubai to host fragrance summit in September.
DUBAI -- The first ever Middle East Fragrance Summit will be held in Dubai that will provide regional industry players with tremendous opportunities to showcase the rich and authentic fragrance culture of the Middle East.
The Fragrance Foundation Arabia (FFA), the Middle East wing of The Fragrance Foundation, the international industry body, announced on Sunday the launch of the summit which will be held on September 26 and 27, 2011. The announcement was made by Shahzad Haider, Chairman, FFA at a Press conference in the presence of fragrance industry leaders from the region.
The Middle East fragrance market has high potential for growth, and is set to touch $10 billion by 2015, backed by a young and largely fashion-conscious population with a growing trend towards consumer urbanization and higher spending propensity.
Organised under the theme, "Bridging Innovation," the summit, which aims to bring together the leading international and regional players of the fast growing fragrance industry under one roof, will initiate an innovative dialogue on a global platform, with a view from the Middle East. It will also provide regional industry players with tremendous opportunities to showcase the rich and authentic fragrance culture of the Middle East.
"Despite the recession, the market for perfumes in the Middle East was not impacted adversely" FFA Chairman Shahzad Haider said. The per capita consumption of perfumes in the region is among the highest in the world, and this is estimated to be $380 per person, Haider added.
The fragrance summit has been organised at an opportune time when the global and regional fragrance industry is witnessing significant growth, with the global market set to almost double from $17 billion in 2010, to touch $33.5 billion by 2015. Industry experts also estimate that over the next five years the Middle East fragrance market, which is currently valued at $3.5 billion, will prove to be one of the fastest growing segments of the industry worldwide.
Uniquely characterised by a mixture of both traditional Arabian perfumes and well known international brands, the Middle East Fragrance industry is at a significant point in its growth trajectory.
"Well known international brands have begun to recognise the untapped potential in the regional market, and are beginning to target Arab clientele. At the same time, the growing interest in traditional Arabian scents offers regional perfumers a huge opportunity to extend their reach beyond Middle Eastern shores to the more developed markets of the West. We believe the summit is crucial for the industry, and presents the ideal platform for a dialogue between the two seemingly emerging elements of tradition and modernity," Haider said.
"While fragrances have always been an integral part of life in the Arab World, there has never been such a depth of awareness about their importance in personal care programmes, as is seen today. We believe it is important to leverage this awareness to grow the market further in a streamlined manner and the fragrance summit is our first step in this direction," said Abdulla Ajmal, Deputy General Manager, Ajmal Perfumes.
The MEFS will enable international and regional industry players to meet and discuss mutual challenges and opportunities in the Middle East fragrance industry, and integrate the innovation aspect of the developed world with the expertise of the region.
Focus will be on the tilt towards oriental notes and trends in international brands, and the corresponding shift towards global packaging and marketing among oriental brands, with a view to encourage knowledge sharing. Some of the leading industry names speaking at the event Abdulla Ajmal, Deputy General Manager, Ajmal Perfumes; Jean-Pierre Houri -- Past-President, International Fragrance Association (IFRA), Roger Schmid, Founder, Nose About LLC, Sheherazade-Chamlou, V.P. Sales & Marketing Perfumery, SGD North America, USA and Grant Osborne, Editor in Chief, Basenotes, UK.
Copyright 2011 Khaleej Times. All Rights Reserved.
Provided by Syndigate.info an Albawaba.com company


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January 21, 2015 Travis Kalanick is ready to go all out: while driving through Paris, the American Uber boss must convince the two big cats of French capitalism to invest in his company, which for many still remains nothing more than a curious UFO halfway between a transportation company and a tech startup .
Seduction operation starts at noon at Apicius, a posh restaurant for 8e arrondissement of Paris, where Xavier Niel, founder of the Free telephone company, who is also an individual shareholder World. It continues a few hours later, on the other side of the Champs Elysées, at LVMH headquarters, where he meets Bernard Arnault, the omnipotent boss of the luxury giant. Alone, two Frenchmen weigh more than 35 billion euros. But Mr. Kalanick is not interested in their wealth, but in their political influence.
This is the stated goal of Project Cheetah, as revealed in an Uber Files survey that World participated with various media partners, including The keeper. Launched a few months earlier by Uber management, this multi-hundred-million-dollar funding round is designed to recruit employees around the world. “strategic investors” endowed with sufficient weight to defend the unceremonious methods of the American group in the face of recalcitrant governments.
“We want them to help us, and if they invest personally, it’s a good way to put your skin on the line. We don’t really need their money, but they can be useful allies.”summarizes in an e-mail Pierre-Dimitri Gore-Cauty, general manager of the group in Western Europe.
“Uber Files”, an international investigation
The Uber Files is an investigation based on thousands of internal Uber documents sent by an anonymous source to a British daily newspaper. The keeperand sent to the International Consortium of Investigative Journalists (ICIJ) and 42 media partners, including World.
Emails, presentations, meeting minutes… These 124,000 documents, dated between 2013 and 2017, offer a rare insight into a startup that has sought to establish itself in cities around the world despite an unfavorable regulatory context. They detail how Uber used in France, as elsewhere, all the tricks of lobbying to try and change the law in its favor.
The Uber Files also reveals how a Californian group, determined to impose itself as a fait accompli and, acting illegally if necessary, used methods that deliberately played with the rule of law or that could amount to a legal obstruction of the investigation it was the subject of.
Find all of our articles from the Uber Files survey
Role of temporary ambassadors
The company wants to repeat the Australian example, where the support of a wealthy family of investors “played a key role in obtaining our license to operate”, as another leader recalls. Much more useful than “passive investors who promise a lot but deliver nothing”.
In every high-stakes country, Uber executives identify profiles that can become their VIP lobbyists: in Italy, former chairman Silvio Berlusconi; in Spain footballers Cristiano Ronaldo and Leo Messi; Russian oligarch Roman Abramovich. On the French side, Uber is testing several CAC 40 heavyweights, from Vincent Bolloret to François Pinault, through the Dassault and Decaux families. Their preference, however, is given to the first tricolor millionaire, Bernard Arnault, who is considered capable“to influence the French legal situation” – requested Worldhe didn’t answer.
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The PlayStation world was recently taken by a wave of nostalgia and pride as Jim Ryan, the outgoing PlayStation boss, made a significant revelation. During his final days at the helm of the gaming giant, Ryan shared that the PlayStation 2, a console that many of us grew up adoring, has sold an astonishing 160 million units worldwide. This updated figure, announced on the Official PlayStation Podcast, not only underscores the PS2's monumental success but also solidifies its position as the best-selling console of all time.
The PlayStation 2's journey from its launch in 2000 to becoming an icon is nothing short of extraordinary. With a library boasting thousands of games, the PS2 introduced players to numerous franchises that have since become staples in the gaming world. It was not just a gaming console; it was a cultural phenomenon that shaped the tastes and preferences of an entire generation. The console's enduring appeal, supported until 2013, is a testament to its quality, versatility, and the deep emotional connection it forged with its audience.
The achievement of reaching 160 million units surpasses previous estimates of around 155 million, reminding us of the PS2's unparalleled dominance in the gaming industry. Its success not only cemented Sony's reputation as a leading console manufacturer but also put considerable pressure on its rivals, contributing to a reshaping of the market dynamics during its heyday. This console was more than a machine; it was a gateway to worlds that captivated and enthralled, leaving an indelible mark on gaming history.
Jim Ryan's departure from PlayStation marks the end of an era but also highlights the enduring legacy of the PlayStation 2. As Ryan pointed out, while the PlayStation 5 is on its path to success, reaching the monumental sales figures of the PS2 is a lofty goal. The PS2's record is not just about numbers; it's about the console's impact on the gaming industry and its ability to connect with millions of gamers around the world on a deeply personal level.
In conclusion, the PlayStation 2's ascent to 160 million units sold is a remarkable milestone that celebrates the console's enduring legacy. As we bid farewell to Jim Ryan, his parting gift of this news serves as a reminder of the PS2's unmatched influence and the joy it brought to countless gamers. It stands as a towering achievement in gaming history, a testament to innovation, creativity, and the timeless appeal of immersive storytelling. The PlayStation 2 may no longer be in production, but its spirit lives on, cherished by those who had the privilege to experience its magic.


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Panasonic buys St. Catharines, Ont., software firm
Quickservice Technologies Inc. makes sales terminals and software for restaurants
MISSISSAUGA, Ont.—Panasonic Canada has a deal to buy Quickservice Technologies Inc., an Ontario company that developed the iQTouch sales terminals and software for restaurants.
Financial terms weren’t disclosed but the Japanese electronics company is expected to gain nearly 100 employees when it completes the purchase of the St. Catharines-based company at the end of February.
Quickservice, founded in 1960, will operate as a separate division of Panasonic Canada.
“This will be very positive for our team and our clients,” Philip Turner, president of Quickservice Technologies, said in a Feb. 8 statement.


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Transcript for TechBytes: Smartphone Kill Switch, Smartwatch
In today's tech bytes of Minnesota has an -- of the nation's first law requiring Smartphones and tablets static kill switch. The ideas cut down on the soaring after the devices with a feature that would shut them off remotely. Samsung has just released its next generation Smart watch the gear to. Lets users makes calls listen to music take pictures and monitor their heart rates but. Do consumers really need one more device USA today's Ed -- has some serious reservations. The problem here is 300 dollars is still alive to pay for device that really is a companion or takes on a subsidiary rolled through the Smartphone or tablet -- in your pocket. Good news for fans flapping bird popular game that disappeared from the market early this -- is coming back in August creator pulled the game over concerns it was just too addictive he says the new version. Will be less addictive. Does it tick bites make a great day I'm John Mueller.
This transcript has been automatically generated and may not be 100% accurate.


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Oneupweb : The New Look of Facebook Timeline Brand Pages
Facebook is planning on releasing its Timeline interface within the next few weeks. Marketers are already curious about how Timeline is going to affect brand pages.
Designers have mocked up some examples of what brand pages could look like. Remember these aren’t necessarily what the brand pages are going to end up as, they are just creative concepts of possible outcomes.
Design by Skinny:
Design by Ryan Kennedy:
I think the artist took some liberty on the Coke mock-up, as I don’t ever see Facebook allowing custom background images, but for the most part these are believable examples of what brand pages could look like after the Facebook Timeline update is implemented.


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The new XE diesel variant will be positioned below the XL variant which is currently priced at Rs 11.09 lakh.
Nissan and EVgo will jointly install 200 direct current fast chargers across the US, claims the company in a release.
Japanese cars sold 2,674 units in South Korea in July compared to June bringing down market share by 6 per cent, reveals report.
Fiat Chrysler is open to re-starting merger negotiations with French automaker Renault, Manley said.
Now, you are free to "subscribe" for a car — an offering that carmakers hope will help them survive slump.
Nissan and Renault are considering changes to their partnership in order to reinvigorate merger negotiations with US-Italian automaker Fiat Chrysler, US media reported on Friday.
The company will do a "service campaign" to fix nearly 200,000 Altima midsize cars because a suspension part can come loose from the frame due to corrosion.
Mazda posted global sales of 353,000 units for the quarter, down 12% from a year ago.
Investment in Britain's car industry has slumped due to fears about a disorderly no-deal Brexit, adding to signs of a manufacturing downturn even as consumers stay relatively resilient.
Nissan and Renault have set up a joint venture (JV) car plant near here by the name of Renault Nissan Automotive India Private Ltd (RNAIPL). The 4.4-lakh-unit production capacity plant rolls out Nissan and Renault branded cars.
In the 250 days since the arrest of former Chairman Carlos Ghosn for alleged financial crimes, focus has shifted to the deteriorating business and the ability of Ghosn-protege-turned-accuser Hiroto Saikawa to revive the company.
Nissan saw a 2.6% sales decline in Japan, while it recorded a 2.3% growth in China.
The auto giant confirmed the Nikkei business daily story amid separate reports that it was also planning to slash more than 10,000 jobs worldwide.
US WTI crude were 12 cents, or 0.2 per cent, higher at $55.99 a barrel.
The move comes as a part of company's path of turning around its business and indicates tough road ahead with management upheaval.
In the last few weeks, the industry witnessed top-level changes companies including Mahindra & Mahindra, Audi, BMW, Hero MotoCorp, Ashok Leyland, Cummins, and Visteon etc.
According to the letter by Nissan to the government, the time period for registration of the leased property expires on Monday and any delay would have attracted penalty and also affect the company’s benefits from functioning in special economic zone (SEZ).
Hot Trends ›
Editor's Picks ›
India to become world's third-largest car market by 2025: Report / Hero Electric launches Optima ER and Nyx ER electric scooters / Bajaj Auto to conduct free service camps in flood-affected states / UK to invest £2 million autonomous vehicle cybersecurity / Queensland government unveils Renault Zoe autonomous car / Mahindra Bolero pick up range 15th lakh unit rolls out / Passenger vehicle inventories down to 25 days: FADA / SmartE appoints Palash Roy Chowdhury as CMD / US and European safety regulators may mandate child presence detection system / Infiniti announces name of upcoming luxury sports utility coupe


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(Bloomberg) -- Portugal said it will remove limits on the size of groups that can be seated at restaurants from Oct. 1 as it takes the next step in a plan to gradually lift restrictions that were put in place to contain the coronavirus pandemic.
Nightclubs will be allowed to reopen, with a EU digital certificate required at the entrance, Prime Minister Antonio Costa said at a press conference in Lisbon on Friday.
Portugal accelerated its Covid-19 inoculation campaign amid a new surge of cases in June, and more than 80% of the population has now completed vaccination, among the highest rates in the world.
©2021 Bloomberg L.P.
BNN Bloomberg Picks
Upper Deck signs long-term trading card deal with NHL
Huawei employees sing and dance to welcome back CFO
PayPal says it's currently not pursuing Pinterest deal
The Facebook papers: Social network shaken by content, user woe
Think everything's expensive now? Wait until you see what's next
Nova Scotia eyeing taxes for homebuyers coming from outside the province


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The New York National Conference is off to a great start with over 7,000 attendees coming together for networking and dealmaking. Jones Lang LaSalle was on hand to speak with some of the attendees. Special thanks to JLL for guest video blogging the latest and greatest from the New York National Conference.
A Retail Portfolio for Christmas?
Unlike year’s past, an extraordinary number of retail portfolios and assets are coming to market before year end due to uncertainty in the 2013 economy. Kris Cooper, co-lead of Jones Lang LaSalle’s retail investment team, discusses this trend along with where the money will come from in the coming year.
DC – A Hotbed of Retail
DC and surrounding markets like Baltimore seem to be immune to the cyclical nature of the economy and continue to prosper. Food concepts such as Pret A Manger are doing extremely well and continue to grow in and around the DC market.
Kris Kringle Comes to Atlanta
Atlanta must be on the “good” list as it had a strong Black Friday weekend and that is expected to continue through the holiday season, according to John Bemis, Retail Market Lead for Atlanta/Southeast region.
Possible Hiccups on the Horizon for Retail
Port strikes coupled with the looming fiscal cliff and Euro crisis could put a damper on retail growth throughout the U.S in 2013., says Michael Niemira, Chief Economist with ICSC. While the sector continues to improve at a slow but steady pace, uncertainty and shallow consumer confidence may detract from the upward momentum gained over the past few years.


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Introduction to a New Era of Digital Identity in the EU
In an age where digital transactions are becoming the norm, the European Union has taken a significant leap forward with the introduction of eIDAS 2.0, aiming to revolutionize how individuals and organizations authenticate their identities online. This update to the Electronic Identification, Authentication, and Trust Services (eIDAS) regulation is not merely a policy update; it’s a foundational shift towards creating a more integrated, secure, and user-centric digital ecosystem across EU member states.
The EUDI Wallet: Central Pillar of eIDAS 2.0
Central to the eIDAS 2.0 framework is the European Digital Identity Wallet (EUDI Wallet), a digital platform that allows EU citizens to store, manage, and use their identity credentials across the continent seamlessly. This innovation is poised to offer unprecedented mobility and flexibility in accessing services, making digital verification a breeze for citizens, irrespective of their location within the EU.
Broadening the Horizons of Digital Verification
eIDAS 2.0 expands the canvas of digital verification by introducing new trust services and enhancing the functionality of existing ones. With the inclusion of electronic certificates for authentication and electronic seals for documents, eIDAS 2.0 is set to cover a broader spectrum of digital transactions. Moreover, the regulation introduces Qualified Trust Service Providers (QTSPs), entities charged with the crucial task of ensuring that digital identities adhere to the updated regulation’s stringent security standards. This ensures a more secure and trustworthy digital space for all EU citizens.
Revolutionizing Identity Verification
The implications of eIDAS 2.0 for identity verification are vast and multifaceted. By providing a standardized, secure, and universally recognized digital identity system, the regulation aims to streamline online services across banking, healthcare, education, and more. The introduction of the EUDI Wallet represents a paradigm shift, offering individuals a secure digital repository for their identity information, thus empowering them with greater control over their personal data.
The Road Ahead: Embracing Security, Privacy, and Widespread Adoption
As the EU gears up for the full implementation of eIDAS 2.0, key focus areas include ensuring the security and privacy of the digital identity framework and achieving widespread adoption of the EUDI Wallet. The regulation’s alignment with the General Data Protection Regulation (GDPR) and the European Cybersecurity Act underscores the EU’s commitment to safeguarding data and enhancing cybersecurity. Achieving the ambitious goal of equipping over 80% of the European population with a digital wallet within the next three years will be pivotal for the success of eIDAS 2.0.
Expanding the Scope and Impact of eIDAS 2.0
Beyond the immediate benefits for individual users, eIDAS 2.0 has the potential to significantly impact businesses, governments, and the broader economy. By facilitating smoother cross-border transactions, enhancing the efficiency of public services, and boosting consumer trust in digital services, eIDAS 2.0 could serve as a catalyst for digital innovation and economic growth within the EU. The regulation’s focus on interoperability ensures that digital identities and credentials issued in one member state will be recognized across the entire EU, thereby promoting a truly single digital market.
Challenges and Considerations for Implementation
While eIDAS 2.0 promises a host of benefits, its implementation is not without challenges. Ensuring the technical readiness of member states, addressing privacy and security concerns, and fostering trust among citizens and businesses will be critical for the successful rollout of the EUDI Wallet. Additionally, navigating the regulatory and legal complexities of harmonizing digital identity standards across diverse jurisdictions requires careful consideration and collaboration among all stakeholders.
Conclusion: Charting the Future of Digital Identity in the EU
eIDAS 2.0 represents a significant milestone in the EU’s journey towards a more secure, integrated, and user-friendly digital future. By addressing the limitations of the current digital identity framework and introducing the EUDI Wallet, the regulation aims to set a new standard for digital identity verification, making it more accessible, secure, and convenient for all EU citizens. As we move closer to the 2024 implementation deadline, the focus will be on ensuring that this ambitious vision becomes a reality, paving the way for a digital Europe that is more connected, secure, and inclusive.
IDcentral is the next-generation digital identity platform, that helps businesses across various domains to increase their profitability and reduce risk. IDcentral forays Subex’s vision to expand Digital Trust business beyond its core area of interest ‘Telecom’.


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In a world of virtual money where many of us pay for everything on contactless cards and direct debits it can be hard to remember that real cash still exists.
Monthly spending on contactless cards is now more than £4.3 billion with more than 110 million in use across the UK. Paying for items worth less than £30 in cash now seems a bit quaint.
Adults can remember a time before digital money when we used cash and cheques. Using cash, of course, has not necessarily made us financially capable as regular research on how well we understand debt, mortgages, pensions and savings shows.
Financial advisers at the frontline of financial education will be aware of the need to increase general financial capability.
However, it is tougher for children growing up now in a digital age struggling to understand the value of money and to become financially capable when their experience of paying in shops is seeing their parents tap a card on a machine.
Likewise online and “virtual” purchases – such as new avatars in a video game – are made in a click of a button behind which the real money payment remains invisible to children.
Prudential research underlines how this can be made even harder as it found that around one in four primary school children have used parents’ cards to shop online and nearly one in five know their parents’ PINs.
The study found 16 per cent of parents allow seven-to-11-year olds to click and go in shops with their cards.
The way children use and understand money is changing fast. Parents and teachers need to work together and be given the tools to ensure the opportunities created by digital payment technology are accompanied by an understanding of the responsibilities that come with it.
There is an emerging digital problem for children in learning how to become a financially capable adult able to make complex decisions throughout life.
Part of the solution to the digital divide is to embrace digital learning as Prudential is discovering through its free educational resource Cha-Ching in partnership with Young Money.
Cha-Ching is available online to families to learn together at home and help them discuss finance and money as well as in schools.
Parents can probably benefit as much as children as research we have commissioned among parents of seven to 11-year-olds, children themselves and teachers demonstrates.
Their children may already be talking about it – the free resource aimed at seven to 11-year-olds in Key Stage 2 is being used in 650 schools and the feedback from teachers who are integrating it into lessons has been impressive.
The resource, which was developed with educational psychologists and first launched in Asia in 2011, is built around animated music videos based on six characters and how they earn, save, spend and donate.


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Published Jul 08, 2021
Ron Ruffinott, VP, Head of Research Solutions at Toluna Corporate
Today, we’re delivering an up-close look at how American consumers are feeling and behaving at this stage, and what brands can expect to see from them. This intel is based on Wave 16 of the Global Barometer Study, which surveyed 1,000 people in the U.S. Here’s what we uncovered.
Employment shortages and the re-opening of the economy make two-thirds of Americans feel more secure in their employment. While nearly half of respondents say they’re still concerned about their financial security, the large majority feel confident about spending money in the coming months, at 77%.
So how will they spend, and where will they save? In the wake of pandemic life;
Sound investments are a top priority, too. One-third of respondents feel it’s important to invest with well-known providers, and one-fourth are looking to invest in socially responsible ESG companies.
Americans are also looking to return to shopping for select items in-store, particularly everyday items including groceries (34%); drinks (29%); household cleaning products (26%); personal care, toiletries, and hygiene products (25%). Twenty-three percent will return to shopping for clothing in stores, while 22% cite cosmetics and 19% technology as their anticipated in-store purchases.
From grocery shopping to cooking, meal prep, and beyond, U.S. consumers’ food habits remain changed months after the pandemic hit. Consumers still report more experimentation in the kitchen at home, as well as ordering food from their favorite restaurants to be picked up (46%) or delivered (42%). Thirty-eight percent of Americans remain open to trying new brands, and these trends appear to be sticking around.
But when it comes to buying groceries and household items going forward, nearly half of respondents say they’re looking forward to in-store grocery shopping (45%), and 40% prefer big supermarket shopping. Thirty-seven percent say they prefer to buy in-store items at local shops.
When it comes to other pandemic-related food trends, here’s an overview of U.S. consumers’ current habits:
The pandemic changed lots of things about personal care and put a spotlight on health and wellness, which doesn’t seem to be disappearing anytime soon. Twenty-one percent of Americans say they’ve bought more products to continue at-home beauty and hair treatments, and 28% will continue their in-home routines. Still, another 28% report being eager to return to salons, spas, and the like.
In terms of wellness, 60% of Americans report a continued interest in products and solutions that help improve well-being, and 61% say they’re keeping medications well-stocked. Another 29% are interested in natural remedies.
Of the many lifestyle shifts, the pandemic brought on, research shows that several are sticking around. One is online financial management, with almost half of Americans reporting more online money management in the past year, with no plans to go back to traditional options.
This digital-first trend has made its way into healthcare, too, and 50% of respondents use digital methods to communicate with healthcare professionals.
Beyond relacing in-person with online options in several key areas, consumers continue to expect more from the brands they support. Americans are looking for businesses that show strong customer support and sustainability values, with 42% listing environmentalism as the most important brand value; 34% listing humanitarian efforts, and 31% a sense of community and community support.
That sense of community translates into consumers’ lives as well, and 31% of Americans report being more interested in buying locally produced products.
As they continue to evolve, count on us to keep you posted on the latest trends and developments informing U.S. consumers’ shopping and spending habits.


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CBank moving from downtown to Madeira
Business bank CBank is moving its single location out of downtown to Madeira in the Kenwood area.
CBank hopes to open the branch at 8100 Montgomery Road by May 1, said CEO Dean Meiszer. But the opening depends on how fast CBank can receive approval from regulators.
The move from CBank’s location at 30 W. Third St. will give the bank more exposure and convenience, Meiszer said. The retail branch, which will employ five, will be located in a 2,000-square-foot former Ritz Camera shop at Montgomery and Hosbrook roads. That location gets 44,000 vehicles a day passing it, he said.
“We wanted to open a private banking center,” Meiszer said. “Our target market is still the same.”
CBank also plans to move its executive offices out of the downtown location in July to office space in the West Shell Office Park near its new retail branch, Meiszer said. That office faces Interstate 71.
The location gives CBank closer access to its target market of households with annual incomes of more than $100,000, Meiszer said. People in Indian Hill, Madeira, Montgomery and Symmes Township live nearby.
CBank, which has $84 million in assets, provides private banking services to those high-income customers and also makes loans to businesses.
Watkins covers banking and finance, insurance and sports business
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BOULDER, CO (BRAIN)—Bikes Belong is moving to a new, larger headquarters next week.
Its new 3,348-square-foot space at 207 Canyon Boulevard in Boulder, Colorado, is in the same building as the International Mountain Biking Association (IMBA). Bikes Belong current space was 2,500 square feet.
CAMARILLO, CA (BRAIN)—SmartEtailing has added retail-industry veterans Bill Duprey and Jim Rayburn to the SmartEtailing client services staff that assists and advises the company’s clients to help them achieve optimum results.
BOSTON, MA (BRAIN)—BMC has hired Karim Pine as general manager of its U.S. subsidiary.
Pine, who most recently worked as marketing director for Cadence Cycling and Multisport, replaces Fabio Selvig.
"The 2011 Amgen Tour of California route will not only showcase the beautiful and unique landscape of California, including some of the state's most scenic landmarks, but will provide some exciting new firsts for the race as well."
—Race organizer and AEG sports president Andrew Messick
CHICAGO, IL (BRAIN)—SRAM has hired Altino Lourenco as its marketing coordinator for France, Spain and Portugal.
ANTWERP, Belgium (BRAIN)—Lazer Sport has hired three new staff members at its headquarters in Antwerp, Belgium.
WETTER, Germany (BRAIN)—Abus, the market leader for locks in Germany, has set up a U.S. subsidiary to help grow its bicycle, motorcycle and marine security business in North America.
The company, named Abus Mobile Security, Inc., is based in Chicago.
CHICOUTIMI, Quebec (BRAIN)—Cycles Devinci will now be made available online in the United States through Competitive Cyclist (www.competitivecyclist.com).
VISTA, CA (BRAIN)—Canari Cyclewear has appointed Erik DeKold as its custom sales director. This change redirects DeKold's focus from IBD sales management to custom team, club and shop sales and department management.
OSAKA, Japan (BRAIN)—Shimano’s sales hit $2.6 billion last year (213.6 billion Yen), with the bicycle division contributing $2.1 billion (169.4 billion Yen) in sales, or 79 percent of total sales. Shimano’s net income doubled to $232.3 million (19.1 billion Yen).
MONTGOMERYVILLE, PA (BRAIN)—The Bicycle Products Suppliers Association has hired Ray Keener as its part-time executive marketing director.
LONG BEACH, CA (BRAIN)—Park Tool is wrapping up its annual mechanics training program today in Long Beach, California, a new city added to its Tech Summit series this year.
LAGUNA HILLS, CA (BRAIN)—Australian dealers and wholesalers are fighting back against what they believe to be unfair pricing from Internet retailers, particularly Chain Reaction Cycles, Wiggle and PBK (Pro Bike Kit.)
NEWBURY PARK, CA (BRAIN)—Industry veteran Jeff Schneider has joined Giant Bicycle as global gear marketing manager.
BLOOMINGTON, MN (BRAIN)—Quality Bicycle Products will no longer offer walk-in registration for its annual Frostbike gathering due to an at-capacity crowd expected in Bloomington later this month.
SAN FRANCISCO, CA (BRAIN)—In wrapping up the holiday season, the world’s leading athletic identification provider announced that its Holiday Giveaway generated $41,000 to complete a year-long and wide-ranging philanthropic initiative from three promotions that resulted in $110,000 in cash donations to its charitable
SEATTLE, WA (BRAIN)—Nuun has hired Casey Otley as its chief financial officer.
COLUMBUS, OH (BRAIN)—A new study conducted by researchers at the Center for Injury Research and Policy of The Research Institute at Nationwide Children’s Hospital found the number of mountain bike-related injuries decreased 56 percent over the 14-year study period (1994 to 2007), going from a high of more than 23,00
BLOOMINGTON, MN (BRAIN)—Quality Bicycle Products recently honored the top commuters among its Q-central warehouse staff of 480 for seeking means of getting to work beyond the single occupancy vehicle commute.


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Frost's passing a loss for Chicago tech
November 21, 2005
BY MICHAEL KRAUSS
The Chicago tech community
lost an amazing resource last week with the sudden passing of
Geoffrey Frost, Motorola executive vice president and chief marketing
family hasn't disclosed the cause of death, and when he was alive,
Frost himself refused to reveal his age.
Frost was the marketing
visionary who helped Motorola CEO Ed Zander turn the once stodgy
engineering company into a tech marketing powerhouse.
If the RAZR phone is
the product most emblematic of Motorola's renaissance, Frost was
the cerebral and intuitive brand stylist whose hand guided the
revitalization of the public face of Motorola.
Frost joined Motorola
in 1999 following a highly successful tour at Nike. He reinvigorated
the Motorola brand, making the batwing logo cool again. Frost's
enthusiasm and energy resounded across the Motorola product line
and across the globe. Frost understood success for Motorola was
as much about brand image and iconic product design as "best
in class" product engineering. Frost brought much needed
balance to Motorola's engineering-dominated culture.
Frost spoke recently
to a packed house at a Business Marketing Association luncheon.
He reminded the audience, "You can't simply declare your
brand cool. It is a title that others bestow upon you." He
talked about the importance of taking risks, and not walking away
from controversy. He understood trends and popular culture. He
knew that "cell phones are the new running shoes." His
ads and product promotions for Motorola were bold, creative and
While Frost reinvigorated
Motorola's brand, making it powerful again, he was also a highly
analytical technology marketer who never lost sight of Motorola's
roots. Frost called the 77-year-old Motorola "the world's
first high-tech startup."
Frost was as comfortable
talking about the genius of Motorola founder Paul Galvin as he
was the latest pop star. Frost seemed to glow with energy when
he described Galvin's "bet-the-company idea of miniaturizing
a radio to fit in the dashboard of a car."
Frost also was a Chicago
tech revolutionary. His vision and his insight will be deeply
and the IT Resource Center are teaming up to honor technology
excellence in Chicago's nonprofit community. Today, IT Resource
Center Executive Director Deborah Strauss announces creation of
the IT Resource Center Technology Leadership Award.
expected to be accountable for the dollars they receive,"
says Strauss, who worries spending often lags on tech infrastructure
that would support accountability. "We want to recognize
organizations who think through the role of technology in furthering
Chicago area nonprofits
that are leading the way in the application of technology are
eligible for the award. Applications will be taken online until
Dec. 20 at www.ITresourcecenter.org/tla. The award winner and
the runner up will receive grants of cash, software and services
totaling more than $15,000 and $10,000 respectively, according
to Strauss. The winners will be feted at the IT Resource Center's
annual bash in March 2006.
Judging the nonprofit's
nominations is an all star panel of five Chicago notables: Allstate
CIO Cathy Brune; Chicago Board of Trade CIO Bill Farrow; United
Way CEO Janet Froetscher; Exelon CIO Dan Hill, and Accenture CIO
"We want to encourage
and recognize technology leadership in the nonprofit community
through this award," said Dean Teglia, managing director
of Accenture's Chicago office, which put up the cash to fund the
Over 300 local nonprofit
organizations benefit from Chicago's IT Resource Center, which
provides technology training and consulting for local organizations.
The center was founded in 1984 with major support from the Chicago
forget the Boilermakers
The Association of
University Research Parks recognized Purdue Research Park in West
Lafayette, Ind., for Excellence in Technology Transfer. There
are 19 start-ups in residence at the park.
Jeanine Phipps wants to strengthen the connection with Chicago.
"You've got to
look at the triangle of Purdue, the University of Illinois at
Urbana/Champaign and Chicago as another emerging biotech triangle,"
says Phipps. "West Lafayette is just a two-hour drive from
Plus the University
has a satellite incubator in Merrillville.
Krauss is a Chicago area tech writer and consultant.


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3222 M Street, NW courtesy Forever 21
From a press release:
“Forever 21 is set to open its newest location within Georgetown Park, Washington, DC. A grand opening event is scheduled for Saturday, January 17, 2015 at 10 a.m. On grand opening day, a DJ will be spinning from 10 a.m. – 3 p.m. and shoppers can have their photo taken in a complimentary photo booth. The first 300 people in line at 10 a.m. will receive a free gift card valued from $10 to $210.
The new space will offer customers of Georgetown Park a large selection of merchandise in more than 20,000 square feet of retail space. Complementing Forever 21® apparel and accessories, the store will also feature the retailer’s other brands, including F21 Contemporary, Forever 21+™, Forever 21 MEN™, Forever 21® cosmetics, and accessories including Forever 21’s lingerie and shoe line.”
Forever 21 currently has a location downtown at 1020 G St, NW.


text:
Nov 24- Activist investor Sandell Asset Management Corp said its nominees were not elected to Ethan Allen Interiors Inc's board, dealing a blow to the hedge fund's intense, four-month effort to drive changes at the storied home furniture company. Tuesday's early results hand a victory to Ethan Allen's long time CEO, Farooq Kathwari, who has led the company in...» Read More
LONDON, July 17- European stock markets slipped on Friday, with a recent Greece- driven relief rally showing signs of fading, while a drop in the shares of truck maker Volvo also weighed on equities. The earnings season is only just getting under way in Europe, with Friday's batch of results bringing forecast-beating numbers from mobile network supplier Ericsson,...
LONDON, July 17- Blue-chip euro zone stocks slipped on Friday, with a recent Greece- driven relief rally showing signs of fading as investor focus shifts to the corporate earnings season and the timing of a U.S. interest rate hike. The trading day looked set to be dominated by U.S. inflation data due later as well as General Electric's earnings.
LONDON, July 17- Blue-chip euro zone stocks slipped on Friday, with a recent Greece- driven relief rally showing signs of fading as investor focus shifts to the corporate earnings season and the timing of a U.S. interest rate hike. The earnings season is only just getting underway in Europe, with Friday's batch of results bringing forecast-beating numbers from...
HONG KONG/ BEIJING, July 14- The call of the world's biggest smartphone market is proving irresistible for entrepreneurs in China, where even purveyors of concrete mixers, refrigerators and rock music are mimicking local trailblazer Xiaomi Inc with their own handsets. China had 155 smartphone brands selling over 1,000 handsets a month as at end-March, from 110...
WASHINGTON, July 1- The United States filed a lawsuit on Wednesday to stop Sweden's Electrolux AB, which owns the Frigidaire and Tappan brands, from buying General Electric Co's appliance business, the Justice Department said in a statement. "Electrolux's proposed acquisition of General Electric's appliance business would leave millions of Americans...
WASHINGTON, July 1- The United States filed a lawsuit on Wednesday aimed at stopping Electrolux AB from buying General Electric Co's appliance business, the Justice Department said in a statement.
Japan's households opened their wallets a bit wider than expected in May, with household expenditures jumping for the first time in more than a year.
HONG KONG, June 24- China's GOME Electrical Appliances Holding Ltd plans to buy Beijing Dazhong Home Appliances Retail Co Ltd for 3.83 billion yuan, formalizing its control of a company it has been managing for around eight years. GOME said it would buy the whole of Beijing Dazhong from Beijing Zhansheng Investment Co Ltd in a deal set off against a 3.6 billion...
June 15- Lumber Liquidators Holdings Inc terminated the employment of its chief merchandising officer, making him the latest top-level executive to leave the wood floorings retailer amid allegations it sourced laminates from China that contained excessive levels of a known carcinogen. A report by CBS's "60 Minutes" in March alleged that the company's...
Home appliances maker Electrolux reported a smaller-than-expected fall in first-quarter earnings on Friday.
Whirlpool on Wednesday said its fourth-quarter profit fell due to costs from recent acquisitions, but excluding costs, the results beat expectations.
Whirlpool posted a higher profit on increased sales of its washers and dryers, cooktops, stoves, and refrigerators in North America and Europe.
Samsung has accused the head of rival LG Electronics' appliances business of damaging Samsung washing machines at retail stores.
U.S. household net worth hit a record high in the third quarter as home prices marched higher and the value of stocks and mutual funds surged.
To ease temperature-related complaints, mattress sellers have launched several new products after noticing that couples and hot flash-suffering women were having restless nights.
Graham Stock, chief strategist at Insparo Asset Management, talks about African growth opportunities, which sectors to tap into and how investors' perception is worse than reality.
Swedish home appliances maker Electrolux said booming emerging markets and an improvement in North America would help offset poor sales and price pressure in Europe in 2013.
It might have a broken stock, but “Mad Money” host says it’s not a broken company.
We pulled together a list of Cramer's favorite dividend plays. Read on and pick one or two for your portfolio. They could offer just the kind of defense that you need.


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By Wendy Pugh
AUSTRALIA'S standards authority has asked for restrictions to be placed on some food products from Japanese prefectures near the stricken Fukushima nuclear plant.
The request covers milk and milk products, fresh fruit and vegetables, seaweed and seafood, Food Standards Australia New Zealand said, although it also said milk and milk products and fresh produce were not imported into Australia.
Australia's move follows action by other countries including the US, which barred milk and fresh produce from four Japanese prefectures on March 22.
Hong Kong also took action this week after finding levels of radioactive iodine in turnip and spinach samples as high as 10 times above permitted levels.
The agency ''remains of the view that the risk of Australian consumers being exposed to radionuclides in food imported from Japan is negligible'', Food Standards Australia New Zealand said.
''Imports of seaweed and seafood represent a very small proportion (5.5 per cent and 0.46 per cent respectively) of Australia's total imports of these products.''
The authority said it had asked the Australian Quarantine and Inspection Service to introduce a holding order for the listed foods from the prefectures of Fukushima, Gunma, Ibaraki and Tochigi. Produce from the affected region would be held at the border until food and nuclear regulators decided it was safe to be distributed into the Australian market.
Singapore has suspended imports of milk and products, fruit and vegetables, seafood and meat from areas in Japan affected by the nuclear accident.
The European Union said it had no immediate plans to ban Japanese imports. New Zealand Agriculture Ministry spokesman David Crowe said yesterday that the country was not taking action but would continue to monitor the situation.


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In a twist that sounds like something straight out of a movie on FX, American retailer CVS has taken a dramatic new turn in an effort to fend off soaring retail theft threat(s). According to reports (we can’t link to the WSJ here because we don’t support them), the chain is moving into the private security arena of sorts amid reports that it is using a 13-person private team to stop shoplifting.
The chain apparently employs the militia like squad who is also armed with equally odd high-tech telescopes. Initially, the chain reportedly fought internal backlash over the sudden acquisition of such security considering private citizens generally shouldn’t be arresting people.
In places like San Francisco, where petty theft is essentially legal, it has become increasingly hard for shoplifting to be prosecuted. Officials in cities like those have made it to where theft under a certain amount generally is no longer a chargeable offense. Police officials, however, feel fairly differently laying the blame on sites like Amazon who they in turn say doesn’t verify where a seller got its items from.


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Unilever announced yesterday that it would stay unified, squelching rumors that an intense review after it fended off a takeover bid from Kraft Heinz would lead to its splitting into two companies. Instead, it will sell off its venerable margarine and spreads business, slash costs and initiate a share buyback of €5 billion.
Or, as its communication team deftly puts it in the headline of its news release, it will embark on “Accelerating sustainable shareholder value creation.”
Indeed, CEO Paul Polman believes divvying up the company “would only harm the consumer goods maker's value creation,” according toCNBC.com. “The splitting of our food business from the rest of our business would frankly lead to an enormous amount of dis-synergies and less opportunity of value creation in our opinion,” he said during a live interview with the network.
“Unilever, one of Europe's biggest blue-chip stocks, called the Kraft episode a ‘trigger moment’ to deeply review its business, as global packaged goods makers face slowing growth and more competition from start-ups exploiting evolving tastes for natural and healthy products,” writes Martinne Geller for Reuters.
“There is no doubt that however … opportunistic [the Kraft approach] was, it did raise expectations,” Polman said, Geller reports. “We are absolutely determined to use it as an opportunity to place Unilever on an even stronger footing.”
Polman, a Dutchman who has led Unilever since 2009, said that it would “continue to invest in its brands for long-term growth. Two-thirds of planned savings of €6 billion by 2019 — up from €4 billion before Thursday’s announcement — will be reinvested,” reports Scheherazade Daneshkhu for Financial Times.
“Explaining how Unilever had managed to find the additional savings since last year, Graeme Pitkethly, finance director, said: ‘There is no doubt that we erred on the cautious side. It’s in the nature of a Scotchman and a Dutchman, I think, to do that.’”
But now that it is feeling bolder, it will cut the number of advertisements by 30%, slash its worldwide roster of 3,000 agencies by half and curtail consultants by 40%, Daneshkhu writes.
The proposed sale of the spreads business, which the company has been in for 145 years, “represents the latest blow for butter alternatives, which most think of as ‘margarine,’ even if some don’t technically conform to the federal definition of the word,” according to an AP story in USA Today.
Among its brands are Country Crock and I Can’t Believe It’s Not Butter; ConAgra, which sells Blue Bonnet and Parkay, would be one prospective buyer. If the company can’t find a buyer, the business will be spun off, Unilever said.
“The company has had ‘lots and lots’ of approaches from private-equity firms and is confident it can sell the unit at a favorable price,” Pitkethly told Bloomberg’s Thomas Buckley by phone. It is worth about €7.5 billion, according to Natixis analyst Pierre Tegner.
“Margarine enjoyed popularity for decades before research emerged in the 1990s about the harms of the trans fats. Many manufacturers have since reformulated their spreads sold in tubs to remove trans fats, but the bad health associations have persisted,” the AP story continues. “In the meantime, butter has benefited from the trend toward foods people see as ‘real’ and consumers’ greater willingness to accept more fat in diets.”
“The decision to part ways with margarine … comes as packaged-food and beverage companies around the world are struggling to appeal to shoppers now favoring fresher food. Smaller brands, meanwhile, are stealing shelf space. And food prices in many markets have been falling, making it hard to compensate for lower volumes,” observe Denise Roland and Annie Gasparro for the Wall Street Journal.
“Unilever’s move adds to the array of food assets already up for sale as rivals pivot toward faster-growing personal-care and home products or focus on building up certain food lines,” they continue, citing several prominent examples.
Meanwhile, Unilever’s Dove brand is rolling out its new Baby Dove line in the United States. Marketing Daily’s Sarah Mahoney tells us all about its #RealMoms campaign.


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Generative AI has been around for a while before Altman’s company showed the world a better way of interacting with machines, much in the way Jobs popularised the graphical user interface (GUI) in personal computers. He has, thus, come to represent the human face of a zeitgeist technology, particularly the fear of job losses. This makes Altman a powerful evangelist who investors, including Microsoft, would want to hold on to. Irrespective of the outcome of the boardroom battle at OpenAI, work on large language models (LLMs) is unlikely to suffer. AI has powered Big Tech valuations this year to dizzying heights as industrial use cases grew exponentially.
The technology and its advancement is in the hands of a clutch of trillion-dollar companies that should be able to paper over corporate cracks. Think 19th-20th-century electricity technology not being stopped in its tracks after Nikola Tesla got shunted by Thomas Edison. The challenge of AI, as Altman himself pointed out when he compared it to nuclear science, is more about making it responsible, possibly by slowing it down. Altman is a votary of social antibodies to AI, among which is corporate ethics. This should be of the highest order in a company whose products are expected to upend corporate functioning.


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Swiss Franc and Yen weaken broadly again today as risk appetite returns to markets. In particular, US stocks are set to challenge record high, on trade optimism, as well as expectation of another Fed rate cut. European stocks, except FTSE, also rise mildly as EU agreed on a three-month Brexit flextension. Staying in the currency markets, Euro is currently the strongest for today, followed by Australian Dollar.
Technically, USD/JPY will likely challenge 108.93 temporary top. Break will resume recent rise from 104.45 to 109.31 key structural resistance next. USD/CHF is on track to retest 1.0027 resistance. EUR/CHF will be a pair to watch today. It’s staying below 1.1062 key cluster resistance so far, even though the choppy recovery form 1.0811 extended. Sustained break of 1.1062 will carry larger bullish implication and be an early sign of trend reversal. Focus will immediately be back on 1.1162 support turned resistance. That will be a strong sign of easing medium term risk aversion.
In Europe, FTSE is up 0.02%. DAX is up 0.47%. CAC is up 0.23%. German 10-year yield is up 0.022 at -0.34. Earlier in Asia, Nikkei rose 0.30%. Hong Kong HSI rose 0.84%. China Shanghai SSE rose 0.85%. Japan 10-year JGB yield rose 0.0136 to -0.132.
US goods trade deficit narrowed to USD 70.4B, down -3.6%
US goods trade deficit narrowed by -3.6% mom to USD -70.4B in September, down USD -2.7B from October’s 73.1B. Exports of goods were USD 135.9B, USD 2.2B less than August exports. Imports of goods were USD 206.3B, USD 4.9 than August imports. Advanced wholesale inventories dropped -0.3% mom in September, versus expectation of 0.3% mom.
EU Tusk confirmed approval of 3-month Brexit flextension
European Council President Donald Tusk announced that EU27 has agreed that it will accept UK’s request for Brexit “flextension” until January 31, 2020. He expected to formalize the decision through a written procedure. The decision was made after a 30-minutes meeting of European ambassadors. It’s reported that the conditions attached to the extension including the “non-renegotiability” of the deal agreed.
UK CBI retail sales rose to -10, retailers contend with looming Brexit deadline
UK CBI realized sales improved to -10 in October, but remained in decline for the sixth consecutive months. Rain Newton-Smith, CBI Chief Economist, said: “Retailers have now endured six months of falling sales, the longest period of decline since the financial crisis. The sector is struggling with ongoing digital disruption, layered on top of cost pressures from a weak pound and the cumulative burden of an outdated business rates regime.
“Retailers have also had to contend with the looming Brexit deadline, which has partly driven a record spike in stocks. The timing could not be worse: the run-up to Christmas is a crucial time of year for the retail sector, and not knowing where we will be on November 1st is adding more strain to an already beleaguered sector.”
Also released, Eurozone M3 money supply rose 5.5% yoy in September, below expectation of 5.7% yoy. Germany import price rose 0.6% mom in September, much higher than expectation of 0.1% mom.
Former BoJ Shirakawa saw Japanification of policy in the world
Former BoJ Governor Masaaki Shirakawa said in a summit in Shanghai that there is a “Japanification” of monetary and fiscal policy in the world. And, “policy makers and mainstream academics are still obsessed with a specter of deflation.” He added that the goal of monetary and fiscal stimulus should only be to “bring future demand to the present”. But, “the capacity to front-load will be restrained by the country’s potential growth rate, which will be kept low as perpetual low interest rates keep inefficient firms alive.”
USD/JPY Mid-Day Outlook
Daily Pivots: (S1) 108.53; (P) 108.65; (R1) 108.79; More…
At this point, intraday bias in USD/JPY remains neutral first, with focus on 108.93 temporary top. Break there will resume recent rise from 104.45. Intraday bias will be turned back to the upside for 109.31 key resistance. Decisive break there will carry larger bullish implications next target will be 100% projection of 104.45 to 108.47 from 106.48 at 110.50. On the downside, in case of another retreat, downside should be contained by 55 day EMA (now at 107.85) to bring rebound.
In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.
Economic Indicators Update
|23:50||JPY||Corporate Service Price Index Y/Y Sep||0.50%||0.50%||0.60%||0.50%|
|07:00||EUR||Germany Import Price Index M/M Sep||0.60%||0.10%||-0.60%|
|09:00||EUR||Eurozone M3 Money Supply Y/Y Sep||5.50%||5.70%||5.70%||5.80%|
|11:00||GBP||CBI Realized Sales M/M Oct||-10||-20||-16|
|12:30||USD||Wholesale Inventories Aug P||-0.30%||0.30%||0.20%||0.00%|
|12:30||USD||Goods Trade Balance (USD) Sep||-70.4B||-73.5B||-72.8B||-73.1B|


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Getnow is a startup that delivers groceries to your home. In vain, so for lukewarm, that is not. Only from an order value of 40 euros, the delivery fee is waived, including 3.99 or 6.99 euros, if the food should arrive at home within 90 minutes. Of course, you also have to pay for the goods yourself.
As misleading as the advertising messages from Getnow may be, the current plans of the start-up are as ambitious. Because the company, which was founded in Berlin in 2015 and relocated to Munich at the beginning of the year, is currently in the process of rolling out its service nationwide.
“At the end of the year, we want to achieve a status that we call nationwide nationwide,” Thorsten Eder, Marketing Manager at Getnow, announces in a conversation with the Tagesspiegel. In Berlin getnow is available “in large parts” of the city.
Metro products, DHL deliveries
In this expansion, the start-up has a prominent partner at its side: Metro. The wholesaler supports Getnow in the form of a strategic cooperation. In concrete terms, this means that Getnow currently buys all its goods from Metro. Because the business model of the startup works – simply speaking – like this: When a customer places an order on the website of Getnow, a so-called shopper buys the desired products from Metro and hands them over to a supplier who brings them to the customer.
There are 10 to 15 shoppers in each participating Metro store to purchase Getnow orders, delivered through a DHL subsidiary. “We do not create any additional packaging waste,” emphasizes Eder. “Just a paper bag in which the purchase is delivered.”
There is a prominent role model for this type of food delivery. In the US, Startup Instacart is already operating in 25 states with a similar business model. Since its inception in 2012, the company has raised nearly $ 2 billion in venture capital, bringing it to a $ 7.6 billion company valuation.
Is e-food making the breakthrough?
Getnow is still a long way from such dimensions. The company currently supplies customers in the vicinity of the Metro branches in Munich-Pasing, Neuss and Frankfurt-Rödelheim. In Berlin, the deliveries from Metro in Spandau go out. “We are planning to add another metro location to our shop each month, thereby opening up a new delivery area,” Eder outlines the short-term plans.
The turnover of e-food, that is food ordered on the internet, is growing faster than the rest of the online trade, but it still accounts for a negligible share of the total food trade. Even big players like Rewe or Amazon Fresh see their investments in this field as a bet on the future.
The same applies to the supermarket chain Edeka, which took over after the crushing of Kaisers-Tengelmann the delivery start-up Bringmeister and which is said to exert considerable pressure here to finally write the black. Kaufland and Lidl have completely stopped their supply due to lack of profitability. It may be assumed that Getnow is not profitable yet. So what makes the start-up believe it can turn e-food into a profitable business?
“We have decisive advantages over other delivery services,” says Eder confidently: “We have no warehouse, no own logistics, no own trucks and no own drivers.” That means for the 43-year-old: “Our costs are limited in principle the staff at the headquarters. “He therefore sees” a very, very realistic opportunity to operate profitably in the long term “.
In addition, Metro should not remain the only cooperation partner. “We will list more partners in our shop who are not just from the food trade,” says Eder. In the future, household and drugstore items will also be available at Getnow. “We want to play a role in which traders offer their goods and customers find all the goods for their daily needs.”
More about ordering fresh food online Six delivery services in the field trial
Meanwhile, the founders of Getnow have not been active in the operating business of their company since the middle of last year. Instead, they brought managers to Getnow, who already have experience in the field of grocery delivery.
The latest newcomer is Robert Schambach, who was previously managing director of the online supermarket Allyouneed Fresh. In total, around 100 people work at Getnow, and about 15,000 items are listed in the online shop. Over the next two months, a Getnow app will also be launched.


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(Reuters) - Coffee drinkers have no more risk of getting illnesses such as heart disease or cancer, and are less likely to develop type 2 diabetes, according to a German study involving more than 40,000 people over nearly a decade.
The findings, published in the American Journal of Clinical Nutrition, came in the wake of many previous studies that produced conflicting results, with some tying coffee drinking to an increase in heart disease, cancer, stroke and more.
"Our results suggest that coffee consumption is not harmful for healthy adults in respect of risk of major chronic disease," said Anna Floegel, lead author of the study and an epidemiologist at the German Institute of Human Nutrition Potsdam-Rehbruecke.
The researchers collected information at the beginning of the study on coffee drinking habits, diet, exercise and health from more than 42,000 German adults without any chronic conditions.
For the next nine years, the team followed up on the participants every two or three years to see whether they developed any health problems, particularly cardiovascular disease, stroke, heart attack, diabetes and cancer.
They found that coffee drinkers and non-drinkers were similarly likely to develop one of those illnesses.
For instance, 871 out of 8,689 non-drinkers developed a chronic disease, compared to 1,124 out of 12,137 people who drank more than four cups of caffeinated coffee a day -- about 10 percent in both groups.
On the other hand, the researchers found that coffee drinkers were less likely to develop type 2 diabetes, the form that does not need insulin and is linked with obesity, than those who didn't drink coffee.
Among those who drank four cups a day, 3.2 percent later reported that they had type 2 diabetes, compared to 3.6 percent of people who drank no coffee.
After taking into account factors that could influence diabetes, such as weight and smoking, the researchers determined that frequent coffee drinkers were 23 percent less likely to develop diabetes, a result that squares with other studies.
That doesn't mean that coffee is responsible for preventing type 2 diabetes, but experiments in animals have hinted that certain chemicals found within coffee could positively affect metabolism.
"We do not encourage people to start drinking coffee if they do not enjoy this, but the overall evidence on coffee and health suggests that there is no reason for persons without specific health conditions to reduce their coffee consumption in order to reduce their risk of chronic diseases," said Rob van Damn, a professor at National University of Singapore, who was not involved in the study.
(Reporting from New York by Kerry Grens at Reuters Health; Editing by Elaine Lies and Michael Perry)
(Coffee photo via Shutterstock)


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Valero still wants to split off convenience stores, but how isn’t decided yet
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Would-be buyers are eying a chance to bid on locally based Valero Energy Corp.’s Corner Store chain, Reuters has reported. Relying on unnamed sources, the wire service says the potential sale has drawn the attention of private equity firms and convenience store operators.
The auction could yield more than $3.5 billion — if that’s how the refining giant decides to divest its convenience stores.
That’s perhaps a big “if.”
On July 31, Valero announced plans to split off its retail business and said it had hired Credit Suisse Securities LLC as an advisor.
“The company is currently reviewing several potential separation transactions, including a tax-efficient distribution of the retail business to Valero shareholders,” officials said. By “tax-efficient distribution,” they meant spinning off Valero’s retail business — which saw second-quarter operating income of $172 million — as opposed to selling the stores to a third party.
The tax bill for a spinoff is supposed to be less than it would be for an outright sale.
“We’re exploring options, so that would include all the options,” Valero spokesman Bill Day said in an interview with San Antonio Business Journal. “There are certain tax advantages to Valero to do a spinoff to our shareholders rather than a sale to an outside entity. So that tax advantage would have to be surmounted if another company were to come and make an offer.”
San Antonio-based Valero, the largest independent U.S. refiner, operates 1,027 stores in the United States and 775 in Canada, and has a roster of about 4,000 Valero-branded locations. One of the aims of the split is to allow Valero to focus more on the production and wholesale marketing of fuels.
Greg Jefferson covers finance, energy, transportation and international trade.
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- Law Firms
- High court to decide if exemption applies outside transportation industry
- Case involves delivery workers for a bakery
- Scope of exemption has been litigated extensively
Sept 29 (Reuters) – The U.S. Supreme Court on Friday said it would decide whether an exemption from mandatory arbitration of employment-related legal claims for transportation workers is limited only to employees of companies in the transportation industry.
The court granted a petition by Neal Bissonnette, a former delivery driver for LePage Bakeries Park St. LLC, for review of an appeals court ruling that said an exemption in the Federal Arbitration Act (FAA) did not apply to him because he worked in the bakery industry.
The question, which has divided appeals courts, could have major consequences for companies such as retailers and manufacturers that employ many truck drivers and other delivery workers but do not make money from providing transportation services.
Workers who sign agreements to arbitrate legal claims generally cannot file or join class action lawsuits, and individual claims brought under wage laws are often too small to be worth pursuing. More than half of private-sector U.S. workers have signed arbitration agreements.
Lawyers for Bissonnette and LePage, a subsidiary of Georgia-based Flowers Foods, did not immediately respond to requests for comment.
The FAA requires arbitration agreements to be enforced according to their terms, but includes an exception for employment contracts “of seamen, railroad employees, and any other class of workers engaged in foreign or interstate commerce.” In a 2001 ruling, the Supreme Court said the exemption applied only to transportation workers.
In the LePage case, Bissonnette claims the company misclassified delivery drivers as independent contractors and violated various wage laws.
The 2nd U.S. Circuit Court of Appeals last year said drivers had to bring those claims in individual arbitration. The court said that in order for workers to qualify for the FAA exemption, they must be employed in the transportation industry.
The 11th Circuit has come to a similar conclusion. But the 1st and 7th Circuits in cases involving a retailer and a cement company have held that the FAA exemption applies to any class of workers engaged in interstate commerce.
The scope of the FAA exemption has been litigated extensively in recent years, including its application to “gig economy” companies like Uber Technologies Inc. Last year, the Supreme Court in a case involving Southwest Airlines baggage handler supervisors said the exemption applies to workers who help move goods across state lines, even if they never do so themselves.
Meanwhile, the high court has twice refused to review rulings that said Amazon.com Inc drivers who make local deliveries are involved in interstate commerce and exempt from the FAA.
The case is Bissonnette v. LePage Bakeries Park St. LLC, U.S. Supreme Court, No. 23-51.
For Bissonnette: Jennifer Bennett of Gupta Wessler
For LePage: Traci Lovitt of Jones Day
Amazon again loses bid for SCOTUS review on FAA exemption
U.S. Supreme Court rules Southwest Airlines cannot force wage suit into arbitration
Uber drivers are not interstate workers exempt from arbitration, US court rules
Reporting by Daniel Wiessner
Our Standards: The Thomson Reuters Trust Principles.


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State Rep. Jose Solorio has had it with the State of Nevada’s aggressive ad campaign to woo California businesses that he’s taken the initiative to fight fire with fire according to this report in today’s LA Times.
Solorio, upset at Nevada ad campaigns depicting Californians as clueless, is taking the high road with a new ad campaign that is decidedly pro-California.Â From the story:
“A week after the Nevada Development Authority ran a series of advertisements urging California companies to jump ship, Assemblyman Jose Solorio (D-Santa Ana) is retaliating.
“I was pretty outraged by the nastiness of their tone,” he said. “It’s one thing to compare states in a factual way, but when you’re doing nasty ads veiled in humor which dehumanize Californians, that’s over the top.”
On Friday, Solorio launched his own offensive: a multimedia blitz of pro-California ads proclaiming that “What happens in Vegas stays in Vegas, but what happens in California makes the world go ’round.”
In the video, sweeping shots of state landmarks and a list of prominent California businesses including Gap Inc. and EBay Inc. are interspersed with arid images attributed to Nevada.”
The interesting things about the pro-California ads being run by Solorio is that they aren’t coming form any taxpyaer funded state agency — they are coming form his own campaign account.Â Now imagine one of these pro-business Republican legislators actually taking money out of their campaign coffers to promote the state as a destination for business. You’re right, I can’t either.


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It's not every day that we get to see real women celebrate their bodies — the kind of women you meet day to day as opposed to the models or celebs you see on the web or on your Netflix stream. It's not every day you see those gals with all their so-called flaws and imperfections, like stretch marks, cellulite, scars or bumpy bits, snap a picture and share it with the world. It's just not normal for normal women to take a selfie in a bra and underwear and post it on social media for all of cyberspace to see — which is why Curvy Girl Lingerie (CGL) of San Jose, C.A. decided to do something pretty remarkable.
On Nov. 14, CGL launched their "Regular Women" campaign after receiving requests to showcase their products on non-models. Chrystal Bougon, founder and owner of CGL, said in a press release, "Inspired by a customer, I wanted to show that women with rolls, bumps, lumps, scars, stretch marks, surgery scars and natural breasts that have nursed babies can be stunning and beautiful." So in order to do that, what better than to let dozens of women post lingerie photos of themselves on CGL's Facebook page showcasing their natural, untouched, unedited bodies? Within three days of the campaign launch, the site had 3,500 new followers and a ton of lingerie shots of real women flooding their newsfeed.
No matter what you find attractive, there's no denying that this campaign is cool. Whether or not you like curvy women or men, the basic premise that all bodies are beautiful is indisputable, since how we perceive beauty is such an individual thing and (gasps) everyone has their own opinion. And that's what Bougon has tried to demonstrate. At no point did she say "big is better" or "let's promote obesity." She just said it's time to celebrate ordinary people.
Here are some photos of participants in the "Real Women" campaign.
Images: Curvy Girl Inc./Facebook


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Thursday, January 28, 2016
Alert Logic Approaching $100M Run Rate
Houston-based AlertLogic says it is approaching a $100M run rate, with $81M in revenues in 2015 and $98M run rate in December. According to the company, it had 40 percent growth in 2015 over 2014. Alert Logic, led by Gray Hall, develops security-as-a-service to data center customers. The company said that, in particular, it saw growth in the number of customers running on Amazon Web Services and other cloud platforms. The privately held company has been trumpeting its growth rate since January; the company is owned by private equity investor Welsh, Carson, Anderson & Stowe.


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Scion has unveiled their new xD rally car which will compete in the Rally America National Championship.
Set to celebrate its racing debut at the Sno*Drift Rally on January 25th, the car features a new front bumper, a raised ride height and off-road tires. There's also Brembo brakes and enough LED lights to make Audi jealous.
The striped out interior has Sparco seats, a digital instrument cluster and a roll cage.
Detailed performance specifications were not released, but Scion says the car has a "dog engagement transmission and more horsepower."
According to Scion marketing and special events manager Steve Hatanaka, “Scion Racing is ready and thrilled to be a part of the 2013 Rally America National Championship. The combination of the xD subcompact, a top-notch team race team and one of rally’s best drivers, Andrew Comrie-Picard, is sure to create a competitive and exciting series.”


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The subcompact vehicles produced in recent years are becoming more popular with consumers who are seeking better fuel mileage and lower retail prices for new vehicles
Dallas, TX (PRWEB) June 22, 2014
Spark is one of the builds introduced by General Motors to promote subcompact vehicles in the U.S. this year. To help current vehicle owners find replacement motors easier, the Got Engines company is discounting its Chevy Spark used 1.2L engines for sale.
The production of the "city car" builds by GM over the past several years has introduced both smaller gasoline and electric engines to the public. The Ecotec 1.2L motors that are available for sale in the retail section of the GotEngines.com website maintain quality and a low mileage ratio.
"The subcompact vehicles produced in recent years are becoming more popular with consumers who are seeking better fuel mileage and lower retail prices for new vehicles," said a GotEngines.com source.
The Ecotec DOHC inventory that is positioned inside the Got Engines company inventory includes more than the 1.2L editions. Recent partner changes have taken place and have made it easier to acquire the 2.0, 2.2 and 2.4 series I4 motors that are used in other Chevrolet vehicle brands.
"The used Chevy Spark engines that a person can access while researching our inventory do come complete with an extended service warranty that is included in the retail price," the source said.
The Got Engines company is expected to improve other inventory brands this year aside from the General Motors units now offered. Customer assistance is now being provided daily by way of a new toll-free access line at 1-866-320-1065 to activate warranties, deliver prices and introduce other incentives.
The GotEngines.com company is now a national source for locating used motor vehicle engines that are sold under retail pricing in North America. The company policies for establishing discounts have changed this year to expand better price points for the public. The GotEngines.com company has intelligently designed its engine quotation system that consumers instantly access on the homepage to find sale prices for all inventory shippable this year.


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Planned obsolescence. A practice by which some companies they limit the useful life of a product in order to force consumers to buy a new one. This is achieved by using low-quality materials or implementing software updates that make the product less functional over time.
And what does planned obsolescence have to do with Apple? Nothing. And let them say it in the software update that Apple has released for none other than the iPhone 5S. An iPhone that has been on the market for 10 years and that continues to receive the company’s attention.
Safety is first, and second and third
It’s strange to hear about a software update for a mobile phone that’s almost 10 years old, but that’s exactly what Apple has done with the iPhone 5S. Although the iPhone 5S received its last major operating system update in 2018 with the introduction of iOS 12, continues to receive security updates. This is shown by the recently released version of 12.5.7 which is now available for this and other iPhones.
Alongside the release of iOS 16.3, the iOS 12.5.7 security update closes a security gap that could have allowed attackers execute arbitrary code on devices. Something we can’t overlook at a time when we store our entire lives inside our iPhones.
The iPhone 5S is not the only older device to receive this security update, the iPhone 6 and 6 Plus also enjoy it. And they do it by staying far away from other devices on the phone market, then compared to other Android phone manufacturersApple is noted for providing security updates and support for its older devices going as far back as the iPhone 5S: 10 years.
The security update for the iPhone 5S is a sign of Apple’s commitment to providing security and support to customers even after their devices are listed as obsolete by the company itself. Great news for users of old devices, which they know they can continue to use the devices safely and reliably. As we said at the beginning, obsolescence what?
In Applesphere | AudioOS 16.3 is here: How to use HomePod and HomePod mini’s temperature and humidity sensors to automate anything


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New owner confirms their won’t be any more store closures, saving 3,200 jobs.
Over the weekend OpCapita has purchased GAME, bringing the struggling retailer out of administration.
The acquisition will keep 333 stores open across the UK, securing 3,200 jobs. OpCapita has a habit of purchasing struggling retailers with Comet also owned by the private investment firm.
“We strongly believe there is a place on the high street for a video gaming specialist and GAME is the leading brand in a £2.8 billion market in the UK,” commented Henry Jackson, MD of OpCapita to gamesindustry.biz.
“We have assembled a strong team of experienced industry operators to implement the programme of operational change that is needed. There is a huge amount to do but we look forward to the challenge of restoring GAME’s fortunes in partnership with its employees and suppliers.”
The next challenge for GAME will be winning back the trust of games publishers like EA, Activision and Ubisoft who refused to do business with the specialist retailer after their financial woes became apparent.
Nevertheless we’re glad another well known games retailer won’t be disapearing from the high street.
Hands-on with The Elder Scrolls Online plus in-depth previews for Wildstar, The Evil Within, Wolfenstein: The New Order and Dead Rising 3.Download Now!


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Home Tags Earnings
The SEC is looking into changing the way American companies report earnings — months after Trump tweeted about it
The Securities and Exchange Commission wants to know how to make required financial disclosures easier for publicly listed companies.
Oracle's revenue stayed flat in Q2 FY19 — but this actually beat Wall Street expectations, as analysts were expecting a drop in revenue this quarter.
Nvidia's near-term trading dynamics are under pressure as Softbank is reportedly exploring a sale of its Nvidia stake for early next year, RBC says.
Dave & Buster's reported third-quarter results that beat on both the top and bottom lines, but same-store sales fell short of estimates.
Lululemon shares fell after reporting third-quarter earnings.
The cosmetics retailer Ulta Beauty plunged as much as 5.55% to $276.5 a share after the company reported a worse-than-expected guidance.
Restoration Hardware surged as much as 16.78% to $144.40 a share Tuesday after it reported better-than-expected earnings for the third quarter.
Toll Brothers, one of America's biggest homebuilders, warned Tuesday that the housing market is feeling pain due to rising interest rates.
Abercrombie & Fitch beat on the top and bottom lines, and delivered strong same-store sales for the third quarter.
Tiffany reported third-quarter comparable sales that fell short of Wall Street estimates as spending by Chinese tourists slowed in some areas.


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"We are almost there!" The 2014 World Footwear Congress presented at theMICAM
Milan – No better scenario than the new “theMICAM Square” for offering another international press conference with the latest news about the awaited 2014 World Footwear Congress to be held in Leon, Mexico, on the 24th and 25th November 2014.
Following a warm welcome by Cleto Sagripanti, president of theMICAM, the World Footwear Congress organizers represented by the President of the European Confederation of the Footwear Industry (CEC), Jean-Pierre Renaudin, and the President of the Local Organizing Committee, Miguel Plasencia, thanked all journalists for their last year support in major fashion and footwear trade fairs around the world. A special thanks was also given to Vito Artioli, former CEC president, for setting the grounds of this edition, and selecting who has proven to be the perfect Congress host.
“We are almost there!”- added Renaudin after announcing that “39 renowned speakers from 17 different countries have already confirmed their intervention in an event that cannot be missed”. He called for stakeholders from around the world to participate in Leon because “we All have something to say, something to share, something to contribute with…” Plasencia underlined such message by indicating that the Congress represented a unique opportunity for interchanging ideas and knowledge, and for facilitating the dialogue leading to future business alliances between major worldwide stakeholders. “All this is relevant in this changing economy if we want to reach a sustainable growth of the sector with no boundaries”, added Plasencia.
The 2014 World Footwear Congress promises to be a great success and Leon is ready to host the key players of the footwear sector. Seats are limited and the Congress organizers invite devoted footwear stakeholders to urgently register on the Congress website www.worldfootwearcongressleon2014.com when there are less than 90 days to go.
Come to Leon and make sure to have your voice heard in the 2014 footwear event!


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Thursday 21st March 2019 - Della Bentham
The 2019 Art Market Report has been released and shows that the market has grown for the second consecutive year. We take a look at some of the findings here...
Last year we looked back at the successful growth in the industry, you can read that report here. We are pleased to report that 2018 was another good year for the art and antiques market with 6% growth up to $67.4 billion. This is the second consecutive year of growth for the market which is fantastic news. Sales the previous year had a larger growth of 12%, but the upward trend in the market provides optimism for the industry.
The auction sector, both public and private makes up 45% of the market, this is down 1% on last. The dealer sector accounts for the remaining 54% of the market, this consists of dealer, galleries and online retail sales.
The three largest markets are still the US, the UK and China which combined take up 85% of the global markets value in 2018. The UK was actually knocked from second position last year by China but has recovered in 2018 with a 21% share. The US accounts for 44% and China 19%. Sales in the US totalled $29.9 billion, which is the highest recorded level to date.
Despite the uncertainty of Brexit the UK managed to regain its second position with a strong year of sales, which rose by 8% to $14 billion. The market generally in the EU fell to a 10 year low of 32% and was held up by the UK and their 21%. This is EU's market share is expected to keep shrinking as a result of Brexit as the UK made up 66% of the EU market share. The author of the report Clare McAndrew says “it’s the most obvious effect of Brexit”, McAndrew finds British dealers that she interviewed last year felt that larger businesses, with multiple galleries and less intra-EU trade, would be relatively unaffected by Brexit, and perhaps even benefit, while smaller businesses, “particularly those with less capital to ride out any periods of volatility”, could feel the pressure.
Sales in China declined by 3% on the previous year and amounted to a still very respectable $12.9 billion.
Sales at public auction of fine and decorative art and antiques (excluding auction house private sales) reached $29.1 billion in 2018, this is an increase of 3% year-on-year, and an increase of nearly 30% on 2016!
Again, the 3 largest auction markets are again dominated by the 3 major players the US, China and the UK who have a combined share of 88%. This is a rise of 4% on the previous year. The US accounts for 40%, China 29% and the UK 19%.
Auction sales in the US increased by 18% to $11.8 billion and sales in the UK rose by 15% year-on-year to $5.3 billion. China who remain in second place in terms of auction sales actually saw a decline on the previous year’s results of 9% with $8.5 billion in sales.
The report finds that “Although less extreme than in 2017, growth in 2018 continued to be driven by the high-priced end of the auction market, particularly works priced over $10 million.” The auction sector is multi-tiered, with value highly concentrated in the top-tier businesses. The top five auction houses (Christie’s, Sotheby’s, Poly Auction, China Guardian, and Phillips) accounted for over half of the value of global sales. There are more than 500 mid- to large-sized second-tier auction houses that also generate a significant share of value, dominating the national markets where they operate and often engaging in international trade. A survey of these mid-tier auctioneers reveals that 91% of the respondents believe sales will increase or remain stable over the next five years. The majority were optimistic online sales would increase and 20% felt online sales would increase significantly over those five years. It's great to see such optimism and positive news.
One of the biggest key takeaways from the report is that there seems to be some gender equality. It seems that despite increased visibility of female artists the value of their work lags far behind their male counterparts.
The highest ranked female artist for an individual work in 2018 was the late American artist Joan Mitchell, in the 68th spot according to Sotheby’s, for her “Blueberry” (1969), which sold for $16.6m in May. And in October, Jenny Saville’s “Propped” (1992) fetched $12.4m, setting the record for the highest price achieved for a living female artist at auction. However, leading the field last year by some distance were Amedeo Modigliani ($157.2m), Pablo Picasso ($115m), Edward Hopper ($91.9m) and the costliest living artist, David Hockney ($90.3m).
It's fantastic to see that for the second consecutive year the market has continued to grow, the UK has managed to regain its number 2 spot and that despite Brexit sales are still strong. It is also encouraging that the auction market has continued to see growth and that mid-tier auctioneers are overwhelmingly optimistic about the next five years. We will, of course, be back next year when the 2020 Art Market Report is released. We hope to see another great year of results! You can read the full 2019 Art Market Report here.


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(Bloomberg) -- Passenger-car deliveries in Europe increased for a 15th month in October even as inflation and higher borrowing costs weighed on consumer demand.
New-car registrations rose 14% from a year earlier to 1.04 million units, the European Automobile Manufacturers’ Association said Tuesday, as manufacturers continued to work through order backlogs. Sales of electric vehicles made up about 15% of total deliveries.
Years of supply-chain disruptions have left Europe’s car market with high order banks that have buoyed sales as the economic outlook weakened. While the 20-nation euro-zone is likely to dodge a recession, consumer demand for EVs has shown weakness and the region’s biggest economy, Germany, has stagnated.
In France, where registrations jumped 22% in October, government subsidies are offsetting lackluster demand and supporting the country’s EV transition. Sales growth in Germany, Europe’s largest car market, dwindled to less than 5% last month after Berlin ended state subsidies for company EV purchases and leases. EV sales there grew a meager 4.3%.
Read more: German Economy Chief Warns of Major Blow From Budget Ruling
Home to Volkswagen, BMW, Mercedes-Benz and Tesla’s sole European manufacturing hub, Germany faces more uncertainty about its green initiatives after a ruling from the country’s top court last week jeopardized some climate spending plans. The fallout for the car industry remains unclear, but the decision could affect future investment in the country’s chip industry and the rollout of charging stations, developments that could impede the transition to EVs.
Europe’s car industry is still bracing for the possibility that trade terms with China could worsen after the European Commission started a probe into Beijing’s support for Tesla Inc., BYD Co. and other local carmakers. The investigation, which also involves BMW AG and other western manufacturers exporting EVs to the EU, is expected to last roughly a year and could see Brussels impose additional import duties and retaliatory measures from China.
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